13D Activist Fund

Tuesday, June 30, 2026

Fund Net Performance(1)(2)

Fund Prices & YTD Returns as of 6/29/2026				Performance Through 6/29/2026			Average Annual Returns Through 3/31/2026
NAV	NAV Daily Change	% Daily Change	% YTD Return	One Month	Three Months	Since Inception(4)	YTD	One Year	Three Years	Five Years	Ten Years	Since Inception(4)
13D Activist Fund Class I
26.97	0.48	1.81%	29.48%	1.89%	31.82%	11.57%	0.24%	15.00%	3.52%	0.55%	8.16%	9.79%
13D Activist Fund Class A
25.65	0.46	1.83%	29.28%	1.87%	31.67%	11.28%	0.15%	14.69%	3.25%	0.30%	7.90%	9.51%
13D Activist Fund Class C
23.81	0.42	1.80%	28.77%	1.80%	31.40%	9.81%	-0.05%	13.85%	2.48%	-0.45%	7.09%	7.92%
Russell 2000 Total Return(5)
16591.87	2.33	0.01%	21.96%	3.22%	23.25%	—	0.89%	25.72%	13.05%	3.77%	9.88%	—
13D Activist Fund Class A
With Sales Charge(3)				-4.00%	24.09%	10.83%	-5.61%	8.08%	1.23%	-0.88%	7.26%	9.06%
13D Activist Fund Class C
With Sales Charge(3)				0.80%	30.40%	9.81%	-1.05%	12.85%	2.48%	-0.45%	7.09%	7.92%

Past performance does not guarantee future results. The fund performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. There is no guarantee that any investment strategy will achieve its objectives, generate profits or avoid losses. For the most recent month-end performance information, please call 1-877-413-3228.

(1) Returns are shown net of the Total Expense Ratio. Returns for periods longer than one year are calculated on an annualized basis using daily performance. All returns include dividend and capital gain distributions.

(2) The Total Expense Ratio is 1.51%, 1.76% and 2.51% for Class I, Class A and Class C shares, respectively. The Total Expense Ratio represents the expense ratio applicable to investors and is comprised of the Adviser's management fee, indirect expenses such as the costs of investing in underlying funds and other expenses as noted in the Fund's Prospectus.

(3) Class A shares are subject to a maximum sales charge (load) of 5.75% (waivable). Class A and C shares are subject to a maximum deferred sales charge (load) of 1.00% on any shares sold within 12 months of purchasing them. Please see the Fund's Prospectus.

(4) Class I & A shares launched on December 28, 2011, and Class C shares launched on December 11, 2012. Inception to date returns for the Russell 2000 Total Return are as of December 28, 2011.

(5) The Russell 2000 Total Return is provided for general comparison purposes only. Indices may include holdings that are substantially different than investments held by the Fund and do not reflect the strategy of the Fund. Comparisons to indices have limitations because indices have risk profiles, volatility, asset composition and other material characteristics that may differ from the Fund. Indices do not reflect the deduction of fees or expenses. Performance of equity indices reflects the reinvestment of dividends. The data is not guaranteed. Indices are unmanaged and an investor cannot invest in an index.

The information on this site is not intended, nor should it be construed as, investment, tax, or legal advice, or a recommendation, offer or solicitation of an investment. All investors should consider the investment objectives, risks, charges and expenses of the 13D Activist Fund carefully before investing. This and other information about the Fund is contained in the Fund's prospectus and the summary prospectus, which can be obtained on the web at www.13DActivistFund.com or by calling 1-877-413-3228. Read the prospectus carefully before investing.

Past performance is not necessarily indicative of future results. Investment returns and principal values may fluctuate so that an investor's shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than the performance data quoted. There can be no assurance that the Fund will achieve its goals or avoid losses. Information about the Fund, including current month-end performance, is available on the Fund's website at www.13DActivistFund.com or by calling 1-877-413-3228.

Important Risks: Mutual Fund investing involves risk including loss of principal. Overall stock market risks will affect the value of individual instruments in which the Fund invests. Factors such as economic growth, market conditions, interest rate levels, and political events affect the U.S. securities markets. When the value of the Fund's investments goes down, your investment in the Fund decreases in value and you could lose money. Investments in foreign securities could subject the Fund to greater risks including currency fluctuation, economic conditions, and different governmental and accounting standards. The Fund is a non-diversified investment company, which makes the value of the Fund's shares more susceptible to certain risks than shares of a diversified investment company. The Fund has a greater potential to realize losses upon the occurrence of adverse events affecting a particular issuer. The value of small or medium capitalization company stocks may be subject to more abrupt or erratic market movements than those of larger, more established companies or the market averages in general. An investor should also consider the Fund's investment objective, charges, expenses, and risk carefully before investing. The adviser's consideration of ESG factors could cause it to perform differently compared to funds that do not have such a policy and may not produce the desired results.

The foregoing information has not been provided in a fiduciary capacity under ERISA, and it is not intended to be, and should not be considered as, impartial investment advice. If you are an individual retirement investor, contact your financial advisor or other fiduciary unrelated to 13D Management about whether any given investment idea, strategy, product or service described herein may be appropriate for your circumstances.

Analysis and research are provided for informational purposes only, not for trading or investing purposes. All opinions expressed are as of the date of publication and subject to change. 13D Management and its affiliates are not liable for the accuracy, usefulness or availability of any such information or liable for any trading or investing based on such information.

The information and services provided on this web site are intended for persons in the US only.

The 13D Activist Fund is distributed by Foreside Financial Services, LLC, a member of FINRA. 13D Management LLC is not affiliated with Foreside Financial Services LLC.