Fund Facts

Top 10 Holdings
(as of 03/31/2025)
% of Net Assets
Cash & Cash Equivalents 27.85%
AutoZone 10.59%
Ross Stores 7.59%
O’Reilly Automotive 7.16%
Mastercard 5.23%
Cummins 5.18%
Visa 5.05%
Domino’s Pizza 4.70%
Arch Capital Group 4.14%
Progressive 3.77%

The current and future portfolio holdings are subject to risk.

Cash Position

28%

80

Upside Capture 1

0.63

Beta 2

24

Downside Capture 1

12.9%

Turnover 3

5 year data as of 03/31/25

Performance As of 03/31/25

1 Year 3 Year* 5 Year* Since Inception
(12/28/15)*
MRFOX 6.94% 15.58% 19.09% 16.15%
S & P 500 Index 8.25% 9.06% 18.59% 13.32%

The performance data quoted represents past performance. Past performance does not guarantee future results. Investment returns and principal value of an investment will 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. Call 1-855-691-5288 for current month-end data. *Annualized.

The Adviser has contractually agreed, until January 1, 2026, to reduce Management Fees and reimburse Other Expenses to the extent necessary to limit Total Annual Fund Operating Expenses (excluding brokerage costs and related expenses) to an amount not exceeding 0.99% of the Fund’s average daily net assets. Net Expense Ratio 1.02%. Gross Expense Ratio 1.12%.

Minimum Initial Investment

$10,000

Personal Accounts

$1,000

IRA or Gift to Minor

Additional purchase of Fund Shares may be made at any time in any amount

Strategy All-Cap Value Equity
Share Class Institutional Share
Ticker MRFOX
Benchmark S&P 500 Index
Morningstar Rating™
Inception date 12/28/2015
Typical number of holdings 16-24

Effective as of 03/31/25, MRFOX was rated 5 stars for the the 3-year, 5-year and overall periods (among 1,272, 1,169 and 1,272 Large Blend Funds, respectively), based on risk-adjusted returns.