# EDGAR Filing Document

**Accession Number:** 0001314414
**File Stem:** 0001580642-26-000870
**Filing Date:** 2026-2
**Character Count:** 31077
**Document Hash:** 45adc01dd371736eeb2c37c989839470
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001580642-26-000870.hdr.sgml**: 20260206

**ACCESSION NUMBER**: 0001580642-26-000870

**CONFORMED SUBMISSION TYPE**: 497K

**PUBLIC DOCUMENT COUNT**: 2

**FILED AS OF DATE**: 20260206

**DATE AS OF CHANGE**: 20260206

**EFFECTIVENESS DATE**: 20260206

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Northern Lights Fund Trust
- **CENTRAL INDEX KEY:** 0001314414

**ORGANIZATION NAME:**
- **EIN:** 043023766
- **FISCAL YEAR END:** 0430

**FILING VALUES:**
- **FORM TYPE:** 497K
- **SEC ACT:** 1933 Act
- **SEC FILE NUMBER:** 333-122917
- **FILM NUMBER:** 26606094

**BUSINESS ADDRESS:**
- **STREET 1:** 225 PICTORIA DRIVE
- **STREET 2:** SUITE 450
- **CITY:** CINCINNATI
- **STATE:** OH
- **ZIP:** 45246
- **BUSINESS PHONE:** 631-470-2600

**MAIL ADDRESS:**
- **STREET 1:** 17605 WRIGHT STREET
- **STREET 2:** SUITE 200
- **CITY:** OMAHA
- **STATE:** NE
- **ZIP:** 68130

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Strategy Shares
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Mutual Fund & Variable Insurance Trust
- **DATE OF NAME CHANGE:** 20160223

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Northern Lights Fund Trust
- **DATE OF NAME CHANGE:** 20050121

## Series and Classes Contracts Data

### Ocean Park Tactical Risk Spectrum 70 Fund (Series ID: S000071868)

| Class ID   | Class Name                                               | Ticker Symbol   |
|:---|:---|:---|
| C000227424 | Ocean Park Tactical Risk Spectrum 70 Fund Class C Shares |  |
| C000227425 | Ocean Park Tactical Risk Spectrum 70 Fund Investor Class |  |
| C000227426 | Ocean Park Tactical Risk Spectrum 70 Fund Instl Class    |  |
| C000227427 | Ocean Park Tactical Risk Spectrum 70 Fund Class A Shares |  |

*Ocean Park Tactical Risk Spectrum 70 Fund*

---

| | |
|:---|:---|
| &nbsp;&nbsp;**Class A Shares** | &nbsp;&nbsp;**SRSBX** |
| &nbsp;&nbsp;**Class C Shares** | &nbsp;&nbsp;**SRSKX** |
| &nbsp;&nbsp;**Investor Class** | &nbsp;&nbsp;**SRSNX** |
| &nbsp;&nbsp;**Instl Class** | &nbsp;&nbsp;**SRSJX** |

---

**Summary Prospectus**

**January 28, 2026**

Before you invest, you may want to review the Fund's prospectus, which contains more information about the Fund and its risks. The Fund's prospectus and Statement of Additional Information, both dated January 28, 2026, are incorporated by reference into this Summary Prospectus. You can obtain these documents and other information about the Fund online at www.oceanparkmutualfunds.com/fund-documents/. You can also obtain these documents at no cost by calling 1-866-738-4363 or by sending an email request to fulfillment@ultimusfundsolutions.com.

**Investment Objectives:** The Fund has two objectives, to provide total return and to limit exposure to downside risk.

**Fees and Expenses of the Fund:** This table describes the fees and expenses that you may pay if you buy and hold shares of the Fund. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables and examples below. You may qualify for sales charge discounts on purchases of Class A shares if you and your family invest, or agree to invest in the future, at least $250,000 in the Fund. More information about these and other discounts is available from your financial intermediary and in **How to Purchase Shares** on page 62 of the Prospectus and in **Purchase, Redemption and Pricing of Shares** on page 56 of the Statement of Additional Information.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;**Shareholder Fees**<br> (fees paid directly from your investment) | **Class<br> A** | **Class<br> C** | **Investor Class** | **Instl Class** |
| &nbsp;&nbsp;&nbsp;Maximum Sales Charge (Load) <br> Imposed on Purchases (as a % of offering price) | 3.75% |  |  |  |
| &nbsp;&nbsp;&nbsp;Maximum Deferred Sales Charge (Load)<br> (as a % of the lower of purchase price or redemption proceeds) | 1.00% |  |  |  |
| &nbsp;&nbsp;&nbsp;Maximum Sales Charge (Load) <br> Imposed on Reinvested Dividends and other Distributions |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Redemption Fee<br> (as a % of amount redeemed, if applicable) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;**Annual Fund Operating Expenses**<br> (expenses that you pay each year as a <br> percentage of the value of your investment) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;Management Fees | 1.05% | 1.05% | 1.05% | 1.05% |
| &nbsp;&nbsp;&nbsp;Distribution and/or Service (12b-1) Fees | 0.25% | 1.00% | 0.40% |  |
| &nbsp;&nbsp;&nbsp;Other Expenses | 0.39% | 0.39% | 0.39% | 0.39% |
| &nbsp;&nbsp;&nbsp;Acquired Fund Fees and Expenses<sup>(1)</sup> | 0.33% | 0.33% | 0.33% | 0.33% |
| &nbsp;&nbsp;&nbsp;Total Annual Fund Operating Expenses | 2.02% | 2.77% | 2.17% | 1.77% |
| &nbsp;&nbsp;&nbsp;Fee Waiver and/or Expense Reimbursement<sup>(2)</sup> | (0.13)% | (0.13)% | (0.13)% | (0.13)% |
| &nbsp;&nbsp;&nbsp;Total Annual Fund Operating Expenses <br> After Fee Waiver and/or Expenses Reimbursement | 1.89% | 2.64% | 2.04% | 1.64% |

---

(1) Acquired Fund Fees and Expenses are the estimated average indirect costs of investing in other investment
companies (the "Underlying Funds"). The operating expenses in this fee table will not correlate to the expense ratio in the
Fund's financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.

(2) Ocean Park Asset Management, LLC (the "Adviser"), has contractually agreed to waive management
fees and to make payments to limit Fund expenses, until at least January 31, 2027 so that the total annual operating expenses (exclusive
of any (i) front end or contingent deferred loads, (ii) brokerage fees and commissions, (iii) acquired fund fees and expenses,
(iv) fees and expenses associated with investments including investments in other collective investment vehicles or derivative instruments
(for example options fees and expenses); (v) borrowing costs (such as interest and dividend expense on securities sold short); (vi) taxes;
and (vii) extraordinary expenses, such as litigation expenses (which may include indemnification of Fund officers and Trustees, contractual
indemnification of Fund service providers (other than the Adviser))) do not exceed 1.56%, 2.31%, 1.71% and 1.31% of average daily net
assets attributable to Class A, Class C, Investor Class and Institutional Class, respectively. These fee waivers and expense reimbursements
are subject to possible recoupment from the Fund in future years on a rolling three-year basis (within the three years from the date
when the amount is waived or reimbursed) if such recoupment can be achieved within the lesser of the foregoing expense limits or the then-current
expense limits. This agreement may be terminated only by the Fund's Board of Trustees, on 60 days' written notice to the Adviser.

***Example:*** This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds.

The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund's operating expenses remain the same. The Example assumes the impact of the fee waiver in 1 Year example. Although your actual costs may be higher or lower, based upon these assumptions your costs would be:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **<u>Class</u>** | **<u>1 Year</u>** | **<u>3 Years</u>** | **<u>5 Years</u>** | **<u>10 Years</u>** |
| Class A | $560 | $973 | $1411 | $2625 |
| Class C | $267 | $847 | $1453 | $3090 |
| Investor Class | $207 | $667 | $1153 | $2493 |
| Institutional Class | $167 | $545 | $947 | $2073 |

---

 ****

***Portfolio Turnover:*** The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal period, the Fund's portfolio turnover rate was 217% of the average value of its portfolio.

**Principal Investment Strategies:** The Fund is a "fund of funds." The Adviser seeks to achieve the Fund's investment objective by investing in a combination of unaffiliated mutual funds and exchange traded funds ("ETFs"), (collectively, "Underlying Funds").

Among the types of underlying instruments in which this Fund will invest, through Underlying Funds, are the following:

&nbsp;&nbsp;&nbsp;&nbsp;· U.S. common stocks

&nbsp;&nbsp;&nbsp;&nbsp;· Foreign common stocks, including
from emerging markets

&nbsp;&nbsp;&nbsp;&nbsp;· U.S. fixed income securities

&nbsp;&nbsp;&nbsp;&nbsp;· Foreign fixed income securities,
including from emerging markets

&nbsp;&nbsp;&nbsp;&nbsp;· High yield (or "junk) corporate
bonds

&nbsp;&nbsp;&nbsp;&nbsp;· Preferred securities

&nbsp;&nbsp;&nbsp;&nbsp;· Municipal bonds

&nbsp;&nbsp;&nbsp;&nbsp;· Physical commodities, such as
crude oil, copper and wheat, through mutual funds and ETFs that invest in commodity-linked derivatives

Under normal market conditions, the Fund's target exposure over a three-year period to equity securities, of any market capitalization, through the Underlying Funds will average between 50%-70% of the Fund's assets. The Fund does not have a target allocation for non-equity securities exposure and may invest in underlying fixed income funds without constraint as to maturity or credit quality. The Fund may purchase Treasury securities directly. The Adviser may make changes in the target allocations across asset classes and fund categories, and the specific Underlying Funds in the Fund's portfolio that in its view would be in the best interest of the Fund.

The Fund defines high yield securities, also known as "junk bonds," as fixed-income securities rated below investment grade and whose issuers generally have a non-investment grade rating or are not rated.

The Adviser employs a proprietary trend following strategy to generate buy and sell signals for Underlying Funds. The Adviser calculates upper and lower bands for each Underlying Fund. The upper and lower bands are offset above and below a short-term exponential moving average. A "buy" signal, which identifies a potential uptrend for an Underlying Fund candidate, is determined by a security's price rising above both the recent low of its upper band and a secondary moving average. The Adviser uses quantitative analysis to determine which Underlying Funds to purchase.

An Underlying Fund is sold when a security's price falls below the recent high of its lower band (a "sell" signal), the goal being to limit drawdowns of the overall Fund. When a position is sold, the proceeds may be invested in an alternative Underlying Fund or temporarily invested in cash equivalents. Cash equivalents may include, but are not limited to, U.S. Treasury bills, money market funds and funds that primarily invest in investment grade short-term bonds. The Adviser periodically reviews the allocation of the Underlying Funds and may make adjustments to the Underlying Fund holdings, including adding or removing Underlying Funds.

The Fund may engage in securities lending.

**Principal Investment Risks:** ***As with all mutual funds, there is the risk that you could lose money through your investment in the Fund. The Fund is not intended to be a complete investment program. Many factors affect the Fund's net asset value and performance.***

Performance of the Fund during future periods will definitely vary. Some months and some quarters will result in negative performance; indeed, some future years may have negative performance.

&nbsp;&nbsp;&nbsp;&nbsp;· *Commodity-Linked Derivative Risk.* When the Fund invests in commodities through Underlying Funds that invest in commodity-linked derivative instruments the Fund
is exposed to risks affecting a particular industry or commodity, such as drought, floods, and adverse regulatory developments. Commodity-linked
derivatives may also have leverage risk, which amplifies the effect of a small movement in commodity prices on the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;· *Emerging Markets Risk.* Underlying
Funds may invest in emerging market countries. Investing in emerging markets involves not only the risks described below with respect
to investing in foreign securities, but also other risks, including exposure to economic structures that are generally less diverse and
mature, limited availability and reliability of information material to an investment decision, and exposure to political systems that
can be expected to have less stability than those of developed countries. The market for the securities of issuers in emerging market
typically is small, and a low or nonexistent trading volume in those securities may result in a lack of liquidity and price volatility.

&nbsp;&nbsp;&nbsp;&nbsp;· *Equity Risk.* The net asset
value of the Fund will fluctuate based on changes in the value of the equity securities held by those Underlying Funds that invest in
U.S. and/or foreign stocks. Equity prices can fall rapidly in response to developments affecting a specific company or industry, or to
changing economic, political or market conditions.

&nbsp;&nbsp;&nbsp;&nbsp;· *ETF Risk.* Shares of ETFs
may trade at a discount or a premium in market price if there is a limited market in such shares and are also subject to brokerage and
other trading costs, which could result in greater expenses to the Fund. The index-tracking ETFs in which the Fund invests will not be
able to replicate exactly the performance of the indices they track because the total return generated by the securities will be reduced
by transaction costs incurred in adjusting the actual balance of the securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Fixed Income Risk.* When
the Fund invests in Underlying Funds that invest in fixed-income securities, the value of your investment in the Fund will generally
decline when interest rates rise. Defaults by fixed income issuers in which the Underlying Funds invest may also harm performance.

&nbsp;&nbsp;&nbsp;&nbsp;· *Foreign Risk.* Foreign
markets can be more volatile than the U.S. market due to increased risks of adverse issuer, political, regulatory, market, economic developments
or currency exchange rates and can perform differently from the U.S. market. The net asset value of the Fund will fluctuate based on changes
in the value of the foreign securities held by any Underlying Funds that invest in such securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Government Securities Risk.* It is possible that the U.S. Government would not provide financial support to its agencies or instrumentalities if it is not required
to do so by law. The ability of foreign governments to repay their obligations is adversely impacted by default, insolvency, bankruptcy
or by political instability, including authoritarian and/or military involvement in governmental decision-making, armed conflict,
civil war, social instability and the impact of these events and circumstances on a country's economy and its government's
revenues.

&nbsp;&nbsp;&nbsp;&nbsp;· *High Yield (Junk Bond) Risk.* Underlying Fund investments in lower quality bonds, also known as "junk" bonds, present greater risk than bonds of higher
quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely affect the market
for these bonds and reduce liquidity in these bonds. High yield bonds are considered speculative and issuers are more sensitive to economic
conditions than high quality issuers and more likely to seek bankruptcy protection which will delay resolution of bondholder claims and
may eliminate liquidity. Underlying Fund investments in lower-quality bonds, known as high yield or junk bonds, present greater risk
than bonds of higher quality, including an increased risk of default. An economic downturn or period of rising interest rates could adversely
affect the market for these bonds and reduce liquidity in these bonds. Junk bonds are considered speculative and issuers are more sensitive
to economic conditions than high quality issuers and more likely to seek bankruptcy protection which will delay resolution of bondholder
claims and may eliminate liquidity.

&nbsp;&nbsp;&nbsp;&nbsp;· *Interest Rate Risk.* Fixed
income securities are subject to the risk that securities could lose value because of interest rate changes. Fixed income securities with
longer maturities are subject to greater price shifts as a result of interest rate changes than fixed income securities with shorter maturities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Inverse Risk.* The Fund
engages in hedging or declining-market strategies by investing in inverse Underlying Funds. Any strategy that includes inverse securities
could cause the Fund to suffer significant losses. The Fund will not participate in market gains to the extent it holds inverse Underlying
Funds.

&nbsp;&nbsp;&nbsp;&nbsp;· *Large Capitalization Company Risk.* Large-cap companies may be unable to respond quickly to new competitive challenges, such as changes in technology and consumer
tastes, and also may not be able to attain the high growth rate of successful smaller companies, especially during extended periods of
economic expansion.

&nbsp;&nbsp;&nbsp;&nbsp;· *Management Risk.* The Adviser's
dependence on its investment strategy and judgments about the attractiveness, value and potential appreciation of particular mutual funds
and ETFs in which the Fund invests will in some cases prove to be incorrect and have negative impacts on performance.

&nbsp;&nbsp;&nbsp;&nbsp;· *Market and Geopolitical Risk.* The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions
in one region or financial market may adversely impact issuers in a different country, region or financial market. Securities in the Fund
may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or resources,
natural disasters, pandemics, epidemics, climate change or climate change related events, terrorism, international conflicts, regulatory
events and governmental or quasi-governmental actions. The occurrence of global events similar to those in recent years, such as a
worldwide pandemic, terrorist attacks, natural disasters, social and political discord or debt crises and downgrades, among others, may
result in market volatility and may have long term effects on both the U.S. and global financial markets. It is difficult to predict when
similar events affecting the U.S. or global financial markets may occur, the effects that such events may have and the duration of those
effects. Any such event(s) could have a significant adverse impact on the value and risk profile of the Fund. For example, the COVID-19
global pandemic had negative impacts, and in many cases severe negative impacts, on markets worldwide. It is not known how long the impacts
of the events described above, will last, but there could be a prolonged period of global economic slowdown, which may impact your investment.
Therefore, the Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged
market downturns. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and
interest rates can have the same impact on all types of securities and instruments. In times of severe market disruptions, you could lose
your entire investment.

&nbsp;&nbsp;&nbsp;&nbsp;· *Master Limited Partnership ("MLP") Risk.* Investments in MLPs involve risks different from those of investing in common stock including risks related
to limited control and limited rights to vote on matters affecting the MLP, risks related to potential conflicts of interest between an
MLP and the MLP's general partner, cash flow risks, dilution risks and risks related to the general partner's limited call
right. MLPs are generally considered interest-rate sensitive investments. During periods of interest rate volatility, these investments
may not provide attractive returns. MLPs, typically, do not pay U.S. federal income tax at the partnership level. Instead, each partner
is allocated a share of the partnership's income, gains, losses, deductions and expenses. A change in current tax law or in the
underlying business mix of a given MLP could result in an MLP being treated as a corporation for U.S. federal income tax purposes, which
would result in such MLP being required to pay U.S. federal income tax on its taxable income. The classification of an MLP as a corporation
for U.S. federal income tax purposes would have the effect of reducing the amount of cash available for distribution by the MLP. Thus,
if any of the MLPs owned by the Fund were treated as corporations for U.S. federal income tax purposes, it could result in a reduction
of the value of your investment in the Fund and lower income, as compared to an MLP that is not taxed as a corporation.

&nbsp;&nbsp;&nbsp;&nbsp;· *Municipal Risk.* Municipal
securities are subject to the risk that legislative changes and local and business developments may adversely affect the yield or value
of the Fund's investments in such securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Portfolio Turnover Risk.* As
to the portion of the portfolio invested in ETFs and other investment companies, turnover may result in higher brokerage commissions,
dealer mark-ups and other transaction costs. The Fund's investment style may result in most capital gains within the portfolio
being realized as short-term capital gains.

&nbsp;&nbsp;&nbsp;&nbsp;· *Preferred Security Risk.* The
value of preferred securities will fluctuate with changes in interest rates. Typically, a rise in interest rates causes a decline in the
value of preferred securities. Preferred securities are also subject to credit risk, which is the possibility that an issuer of preferred
securities will fail to make its dividend payments.

&nbsp;&nbsp;&nbsp;&nbsp;· *REIT Risk*. The Fund's
investment exposure to REITs may subject the Fund to risks of declines in the value of real estate, changes in interest rates, lack of
available mortgage funds or other limits on obtaining capital, overbuilding, extended vacancies of properties, increases in property taxes
and operating expenses, changes in zoning laws and regulations, casualty or condemnation losses and tax consequences of the failure of
a REIT to comply with tax law requirements. The Fund will bear a proportionate share of the REIT's ongoing operating fees and expenses,
which may include management, operating and administrative expenses in addition to the expenses of the Fund.

&nbsp;&nbsp;&nbsp;&nbsp;· *Small and Mid-Capitalization Company Risk.* Investments in Underlying Funds that own securities of small- and mid-capitalization companies may be more vulnerable
than larger, more established organizations to adverse business or economic developments. These companies often have narrower markets,
fewer products, or services to offer and more limited managerial and financial resources than do larger, more established companies.

&nbsp;&nbsp;&nbsp;&nbsp;· *Treasury Securities Risk.* U.S. Treasury obligations may differ from other securities in their interest rates, maturities, times of issuance and other characteristics
and may provide relatively lower returns than those of other securities. Similar to other issuers, changes to the financial condition
or credit rating of the U.S. government may cause the value of the Fund's investment exposure to U.S. Treasury obligations to decline.

&nbsp;&nbsp;&nbsp;&nbsp;· *Underlying Fund Risk.* Each
Underlying Fund is subject to specific risks, depending on its investments. Underlying Funds are also subject to investment advisory fees
and other expenses, which are indirectly borne by the Fund. As a result, your overall cost of investing in the underlying stocks,
bonds and other basic assets will be higher than the cost of investing directly in them, and may be higher than other mutual funds that
invest directly in securities.

&nbsp;&nbsp;&nbsp;&nbsp;· *Securities Lending Risk*.
Securities lending involves a possible delay in recovery of the loaned securities, a possible delay in receiving additional collateral
(to cover an increase in the market value of the loaned securities or a decrease in the value of any securities collateral), or a possible
loss of rights in the collateral should the borrower fail financially. There is a risk that a borrower may default on its obligations
to return loaned securities, which could negatively impact the Fund. The Fund could also lose money if the value of the collateral decreases.

&nbsp;&nbsp;&nbsp;&nbsp;· *Whipsaw Risk.* Whipsaw
risk is the possibility of experiencing losses or missed gains when the market quickly reverses direction after a trend signal triggers
an entry or exit. For example, an adviser might sell a security because a downtrend is detected, only to have the market rebound, forcing
it to buy back at a higher price (loss or missed gain). Conversely, a fund could buy due to an uptrend, and the market reverses downward,
resulting in a loss. As such, trend-following strategies may be subject to frequent losses from whipsaw movements, and the Fund may experience
short-term losses due to sudden reversals in prevailing trends. Therefore, trend-following strategy results, such as those utilized by
the Fund's adviser may differ from traditional buy-and-hold strategies and shareholders should expect periods of underperformance
due to rapid market fluctuations.

**Performance:** The bar chart and performance table below show the variability of the Fund's returns, which is some indication of the risks of investing in the Fund. The bar chart shows performance of Instl Class shares of the Fund for each full calendar year since the Fund's inception. The performance table compares the performance of the share classes of the Fund over time to the performance of a broad-based securities market index and a supplement index. You should be aware that the Fund's past performance (before and after taxes) may not be an indication of how the Fund will perform in the future. Updated performance information is available at no cost by calling 1-866-738-4363 or visiting www.Ocean ParkMutualFunds.com.

**Institutional Class Annual Total Return For Calendar Years Ended December 31<sup>1</sup>**

![](image_001.gif)

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| | |
|:---|:---|
| 1 | The returns are for Institutional Class, which would have substantially similar annual returns as the other share classes because the shares are invested in the same portfolio of securities and the returns for each class would differ only to the extent that the classes do not have the same expenses. |

---

---

| | |
|:---|:---|
| Best Quarter: | 5.83% |
| Worst Quarter: 4<sup>th</sup> Quarter 2024 | (2.07)% |

---

**Performance Table**

**Average Annual Total Returns**

(For periods ended December 31, 2025)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp; **One**<br> **Year** | &nbsp;&nbsp; **Since**<br> **Inception (3/31/2023)** |
| &nbsp;&nbsp;&nbsp;**Institutional Class** |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 6.07% | 7.44% |
| &nbsp;&nbsp;&nbsp;Return after taxes on distributions | 5.48% | 6.76% |
| &nbsp;&nbsp;&nbsp;Return after taxes on distributions and sale of Fund shares | 3.83% | 5.56% |
| &nbsp;&nbsp;&nbsp;**Investor Class** |  |  |
| &nbsp;&nbsp;&nbsp;Return before taxes | 5.61% | 6.93% |
| &nbsp;&nbsp;&nbsp;**Morningstar Moderate Target Risk Index** | 15.95% | 11.89% |

---

The Morningstar Moderate Target Risk Index (Total Return) is an index designed to meet the benchmarking needs of target risk investors by offering an objective yardstick for performance comparison. The index invests in 60% global equity exposure and 40% global bond exposure. Investors cannot invest directly in an index.

After-tax returns were calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown, and after-tax returns shown are not relevant to investors who hold shares of the Fund through tax-deferred arrangements, such as 401(k) plans or Individual Retirement Accounts (IRAs). After tax returns are not shown for Investor shares and would differ from those of Instl Class.

**Investment Adviser:** Ocean Park Asset Management, LLC (the "Adviser") is the Fund's investment adviser.

**Investment Adviser Portfolio Managers:** Kenneth L. Sleeper, MBA, PhD, Managing Director, James St. Aubin, CFA®, CAIA®, Chief Investment Officer, Ryan Harder, CFA®, Chief Investment Strategist and Marshall Quan, Portfolio Manager, are the portfolio managers of the Fund. Dr. Sleeper, Messrs. Harder and Quan have served the Fund as portfolio manager since it commenced operations in March 2023. Mr. St. Aubin has served the Fund as portfolio manager since July 2024. Each portfolio manager is jointly and primarily responsible for the day-to-day management of the Fund.

**Purchase and Sale of Fund Shares:** For all Classes, the minimum initial investment is $10,000 and the minimum subsequent investment is $1,000. You may purchase and redeem shares of the Fund on any day that the New York Stock Exchange is open. Redemption requests may be made in writing, by telephone, or through a financial intermediary and will be paid by Automatic Clearing House ("ACH"), check or wire transfer. The Fund reserves the right to waive any investment minimum.

**Tax Information:** Dividends and capital gain distributions you receive from the Fund, whether you reinvest your distributions in additional Fund shares or receive them in cash, are taxable to you at either ordinary income or capital gains tax rates unless you are investing through a tax-deferred account such as an IRA or 401(k). However, these dividend and capital gain distributions may be taxable upon their eventual withdrawal from tax-deferred plans.

**Payments to Broker-Dealers and Other Financial Intermediaries:** If you purchase shares of the Fund through a broker-dealer or other financial intermediary (such as a bank), the Fund and its related companies may pay the intermediary for the sale of Fund shares and related services. These payments may create a conflict of interest by influencing the broker-dealer or other intermediary and your salesperson to recommend the Fund over another investment. Ask your salesperson or visit your financial intermediary's website for more information.