0001319067 2026-03-30 2026-03-30 0001319067 fin:S000052123Member 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:MarketRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:ActiveManagementRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:InterestRatesRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:IssuerRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:EquityRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:LargeCompanyRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:SmallcapAndMidcapStockRisksMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:PortfolioTurnoverRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:SpecialSituationsRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:ShortSaleRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:OtherInvestmentCompaniesIncludingETFSRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:OptionsRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:LimitsOnOptionSellingRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:OptionsStrategyRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:DerivativesRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:ConvertibleSecuritiesRiskMember 2026-03-30 2026-03-30 0001319067 fin:S000052123Member fin:GeneralFundInvestingRiskMember 2026-03-30 2026-03-30 0001319067 fin:C000164029Member 2026-03-30 2026-03-30 0001319067 fin:C000164030Member 2026-03-30 2026-03-30 0001319067 fin:S000052123Member oef:RiskLoseMoneyMember 2026-03-30 2026-03-30 0001319067 fin:C000164030Member 2017-01-01 2017-12-31 0001319067 fin:C000164030Member 2018-01-01 2018-12-31 0001319067 fin:C000164030Member 2019-01-01 2019-12-31 0001319067 fin:C000164030Member 2020-01-01 2020-12-31 0001319067 fin:C000164030Member 2021-01-01 2021-12-31 0001319067 fin:C000164030Member 2022-01-01 2022-12-31 0001319067 fin:C000164030Member 2023-01-01 2023-12-31 0001319067 fin:C000164030Member 2024-01-01 2024-12-31 0001319067 fin:C000164030Member 2025-01-01 2025-12-31 0001319067 fin:C000164029Member 2016-01-21 2025-12-31 0001319067 fin:C000164030Member 2016-01-21 2025-12-31 0001319067 fin:C000164030Member 2021-01-01 2025-12-31 0001319067 fin:C000164030Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0001319067 fin:C000164030Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0001319067 fin:C000164030Member oef:AfterTaxesOnDistributionsMember 2016-01-21 2025-12-31 0001319067 fin:C000164030Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0001319067 fin:C000164030Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0001319067 fin:C000164030Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-21 2025-12-31 0001319067 fin:C000164029Member 2025-01-01 2025-12-31 0001319067 fin:C000164029Member 2021-01-01 2025-12-31 0001319067 fin:SAndPIndexMember 2025-01-01 2025-12-31 0001319067 fin:SAndPIndexMember 2021-01-01 2025-12-31 0001319067 fin:SAndPIndexMember 2016-01-21 2025-12-31 iso4217:USD pure false 485BPOS 0001319067 2026-03-30 N-1A 360 FUNDS 2026-03-30 SUMMARY Investment Objective. The investment objective of the M3Sixty Income and Opportunity Fund (the “Fund”) is total return comprised of income and capital appreciation. Fees and Expenses of the Fund. This table describes the fees and expenses that you may pay if you buy, hold, and sell 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 if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. More information about these and other discounts is available from your financial professional and in the section captioned “Purchasing Shares” on page 17 of this prospectus and the section captioned “Purchases, Redemptions, and Special Shareholder Services” beginning on page 33 of the Fund’s statement of additional information (“SAI”). You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $50,000 in the Fund. 50000 Shareholder Fees (fees paid directly from your investment) <div id="xdx_A8F_eoef--ShareholderFeesTableTextBlock_zaBhKwBRv003"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zDi0ruWnMHh" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Shareholder Fees"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 70%"> </td> <td id="xdx_49C_20260330__20260330__oef--ClassAxis__custom--C000164029Member_zjwVbS8ry8T" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 15%">Class A shares</td> <td id="xdx_495_20260330__20260330__oef--ClassAxis__custom--C000164030Member_zs4JbOvW9SKf" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%">Institutional Class shares</td></tr> <tr id="xdx_40A_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zruPs06iloak" style="font: 10pt Times New Roman, Times, Serif; background-color: gainsboro"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 0.25in; text-indent: -0.25in">Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">5.50%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">None</td></tr> <tr id="xdx_403_eoef--MaximumDeferredSalesChargeOverOther_dpn_zXqqqwBrBur7" style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 0.25in; text-indent: -0.25in">Maximum Contingent Deferred Sales Charge (Load) (as a percentage of original purchase price or the amount redeemed, whichever is less)1</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">1.00%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">None</td></tr> </table> 0.0550 0 0.0100 0 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A8D_eoef--AnnualFundOperatingExpensesTableTextBlock_z81fc2n4fJ25"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5A_dU_znDqYzytiS4c" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="font: 10pt Times New Roman, Times, Serif"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 70%"> </td> <td id="xdx_49C_20260330__20260330__oef--ClassAxis__custom--C000164029Member_zFIG0h0jMqc" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; width: 15%">Class A shares</td> <td id="xdx_495_20260330__20260330__oef--ClassAxis__custom--C000164030Member_zCfgyxqjoZ6b" style="border-bottom: black 1pt solid; font: 10pt Times New Roman, Times, Serif; vertical-align: top; width: 15%">Institutional Class shares</td></tr> <tr id="xdx_408_eoef--ManagementFeesOverAssets_dpn_zzSIuOk3cjej" style="font: 10pt Times New Roman, Times, Serif; background-color: gainsboro"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Management Fees</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">1.25%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">1.25%</td></tr> <tr id="xdx_405_eoef--DistributionAndService12b1FeesOverAssets_dpn_zsk95f3asSm4" style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Distribution and Service (12b-1) Fees</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">0.25%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">None</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: gainsboro"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Other Expenses</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom"> </td></tr> <tr id="xdx_405_eoef--Component1OtherExpensesOverAssets_dpn_zfiR7fBs2E3b" style="font: 10pt Times New Roman, Times, Serif; background-color: gainsboro"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 21pt; text-align: justify">Interest and Dividend Expense on Securities Sold Short</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">0.00%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">0.00%</td></tr> <tr id="xdx_405_eoef--Component2OtherExpensesOverAssets_dpn_zkelAJge3sXi" style="font: 10pt Times New Roman, Times, Serif; background-color: gainsboro"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; padding-left: 21pt; text-align: justify">Other Operating Expenses</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">1.21%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">1.21%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center"> </td></tr> <tr id="xdx_407_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_z32ww4v85xA3" style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Acquired Fund Fees and Expenses</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">0.08%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">0.08%</td></tr> <tr id="xdx_401_eoef--ExpensesOverAssets_iT_dpn_zDXHx07VkKD9" style="font: 10pt Times New Roman, Times, Serif; background-color: gainsboro"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Total Annual Fund Operating Expenses</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">2.79%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">2.54%</td></tr> <tr id="xdx_401_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zdBGFKNVk2c6" style="font: 10pt Times New Roman, Times, Serif; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Fee Waivers and Expense Reimbursement2</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">(0.51)%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">(0.51)%</td></tr> <tr id="xdx_409_eoef--NetExpensesOverAssets_iT_dpn_zpnnxXMRnMk2" style="font: 10pt Times New Roman, Times, Serif; background-color: #D9D9D9"> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; text-align: justify">Total Annual Fund Operating Expenses After Waivers and/or Expense Reimbursements</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">2.28%</td> <td style="font: 10pt Times New Roman, Times, Serif; vertical-align: bottom; text-align: center">2.03%</td></tr> </table> 0.0125 0.0125 0.0025 0 0.0000 0.0000 0.0121 0.0121 0.0008 0.0008 0.0279 0.0254 -0.0051 -0.0051 0.0228 0.0203 <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 27pt">1</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Contingent Deferred Sales Charge applies only when a shareholder purchase in the Fund totals $1 million or more, and shares are redeemed within one year from the date of purchase.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; margin-top: 0pt; margin-bottom: 0pt"><tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 0"></td><td style="font: 10pt Times New Roman, Times, Serif; width: 27pt">2</td><td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">M3Sixty Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Fund, if necessary, in an amount that limits the Fund’s annual operating expenses (excluding interest, borrowing expenses, distribution fees pursuant to Rule 12b-1 Plans, taxes, acquired fund fees and expenses, brokerage fees and commissions, dividend expenses on short sales, litigation expenses, expenditures which are capitalized following generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of such Fund’s business) to not more than 1.95% through at least March 31, 2027. Each waiver or reimbursement of an expense by the Adviser is subject to repayment by the Fund within three years from the date of the waiver or reimbursement, provided that the Fund can make the repayment without exceeding the expense limitation in place at the time of the waiver or reimbursement and at the time of recoupment. The current contractual agreement cannot be terminated for at least one year after the effective date without the Board of Trustees’ (the “Board”) approval.</td></tr></table> March 31, 2027 March 31, 2027 Example. The following Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. This expense example assumes that you invest $10,000 in the Fund for the periods indicated and then redeem all of your shares at the end of those periods. The expense example also assumes that your investment has a 5% return each year, the Fund’s operating expenses remain the same, and the contractual agreement to limit expenses remains in effect only through March 31, 2027. Although your actual costs may be higher or lower, based on these assumptions, your cost would be: <div id="xdx_A83_eoef--ExpenseExampleWithRedemptionTableTextBlock_zcQwK3S7YMQg"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zlA4kASAYSW4" style="font: 10pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Expense Example"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="font: 10pt Times New Roman, Times, Serif; width: 28%; text-align: justify">Period Invested</td> <td id="xdx_481_eoef--ExpenseExampleYear01_zRShKdVBA0Rb" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center">1 Year</td> <td id="xdx_484_eoef--ExpenseExampleYear03_zwzignU1x2V6" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center">3 Years</td> <td id="xdx_488_eoef--ExpenseExampleYear05_zYVNCgWcwLDk" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center">5 Years</td> <td id="xdx_484_eoef--ExpenseExampleYear10_zUIZSK1bqq2c" style="font: 10pt Times New Roman, Times, Serif; width: 18%; text-align: center">10 Years</td></tr> <tr id="xdx_413_20260330__20260330__oef--ClassAxis__custom--C000164029Member_zMWqKFMVxGrl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: gainsboro"> <td style="font: 10pt Times New Roman, Times, Serif; text-align: justify">Class A Shares</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$768</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$1,322</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$1,901</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$3,462</td></tr> <tr id="xdx_416_20260330__20260330__oef--ClassAxis__custom--C000164030Member_za1YGSv9MQlj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top; background-color: white"> <td style="font: 10pt Times New Roman, Times, Serif">Institutional Class Shares</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$206</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$742</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$1,305</td> <td style="font: 10pt Times New Roman, Times, Serif; text-align: center">$2,837</td></tr> </table> 768 1322 1901 3462 206 742 1305 2837 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 rate 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 the example, affect the Fund’s performance. For the fiscal year ended November 30, 2025, the Fund’s portfolio turnover rate was 141.08% of the average value of the portfolio. 1.4108 Principal Investment Strategy of the Fund. The Fund’s investment objective is total return comprised of income and capital appreciation. To meet its investment objective, the Fund will invest primarily in domestic equity securities that, in the opinion of the manager, have above-average intellectual property portfolios and other characteristics, like strong earnings and dividend growth relative to their sector competitors, and that are members of the S&P 1500 Composite. The S&P 1500 Composite combines the S&P 500, an index of large-capitalization issuers, the S&P Midcap 400, and the S&P Small Cap 600 to cover approximately 90% of the U.S. market capitalization. As of November 30, 2025, the capitalization of companies in the S&P 1500 Composite ranged from $350 million to $3.2 trillion. The Fund also engages in short selling to the extent permitted under the Investment Company Act of 1940 (the “1940 Act’). The Fund may invest in the securities of other investment companies, including exchange-traded funds (“ETFs”), to the extent that such investments are consistent with the Fund’s investment objective and the policies are permissible under the 1940 Act. The Fund will seek to produce income through dividends paid on securities and options (e.g., premium income on the sale of an option) and total return through an options strategy. The Fund will typically invest in issuers that have established markets and operations and generate excess cash flow. The Fund looks for stocks with attributes that suggest they will thrive in good markets and survive potential economic setbacks. The Fund employs detailed quantitative assessments to construct its equity portfolio. Portfolio parameters include but are not limited to, a quantitative valuation of the strength of the company’s intellectual property portfolio, steady growing earnings, dividend yield with a tendency to raise such yield, and availability at reasonable price-earnings ratios. The Fund seeks to invest in stocks that are undervalued by the market but with strong business models, which may provide for lower levels of market volatility or non-correlated volatility. The Fund also prefers to invest in stocks that have options traded on them. The Fund will rebalance and adjust its equity portfolio as the Adviser deems necessary and appropriate. The Fund may also invest in companies that are experiencing a “special situation” that makes them undervalued relative to their long-term potential. Developments creating special situations may include new intellectual property developments, intellectual property licensing deals, mergers, spin-offs, litigation resolutions, new products, or management changes. The Fund may also invest in convertible securities. The Fund also seeks to generate income for shareholders by selling options against the risk taken by owning common stocks. For example, the Fund intends to sell covered call options on a portion of its stock holdings. This income is designed to, over time, add to portfolio stability and improve returns. The Fund also uses option strategies to limit market exposure and volatility. The extent of option selling will depend upon market conditions and the Adviser’s judgment as to the advantages of selling call options on the Fund’s equity investments. The Fund is actively managed, and its portfolio is therefore expected to be traded frequently and will likely experience high portfolio turnover. Frequent and active trading may result in greater expenses to the Fund, which may lower its performance. You may lose money on your investment in the Fund. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketRiskMember_zrdsensWJMHl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; text-indent: 35.9pt">Market risk – Stock prices are volatile. Market risk refers to the risk that the value of securities in the Fund’s portfolio may decline due to daily fluctuations in the securities markets. The Fund’s performance per share will change daily based on many factors that may generally affect the stock market, including fluctuation in interest rates, national and international economic conditions, and general equity market conditions. In a declining stock market, stock prices for all companies (including those in the Fund’s portfolio) may decline, regardless of their long-term prospects. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActiveManagementRiskMember_z9a6zoiTvN9e" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Active management risk – The investment adviser’s judgments about the attractiveness, value, or potential appreciation of the Fund’s investments may prove to be incorrect. The Fund could underperform in comparison to other funds with a similar benchmark or similar objectives and investment strategies if the Fund’s overall investment selections or strategies fail to produce the intended results. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--InterestRatesRiskMember_zEOBEnNSK8id" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt"> Interest rate risk – Increases in interest rates typically lower the present value of a company’s future earnings stream. Since the market price of a stock changes continuously based on investors’ collective perceptions of future earnings, stock prices will generally decline when investors anticipate or experience rising interest rates. The level of premiums from call options selling and the amounts available for distribution from the Fund’s options activity may decrease in declining interest rate environments. Any preferred stocks paying fixed dividend rates in which the Fund invests will likely change in value as market interest rates move. When interest rates rise, the market value of such securities generally falls. If the Fund invests in preferred stocks, the net asset value and price of the common stock may decline if market interest rates rise. During periods of declining interest rates, an issuer of preferred stock may exercise its option to redeem securities prior to maturity, forcing the Fund to reinvest in lower-yielding securities. <p id="xdx_A8F_eoef--RiskTextBlock_hoef--RiskAxis__custom--IssuerRiskMember_zyoi7qA9YIAb" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Issuer risk – The value of an individual security or particular type of security can be more volatile than the market as a whole and can perform differently from the value of the market as a whole. When the Fund sells shares, they may be worth more or less than what the Fund paid for them, which means that the Fund could lose money and the value of your investment in the Fund could decrease. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--EquityRiskMember_z8v35fvDcFc1" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt 0pt 0.3pt; text-align: justify; text-indent: 35.7pt">Equity risk – Equity risk is the risk that securities held by the Fund will fall due to general market or economic conditions, perceptions regarding the industries in which the issuers of securities held by the Fund participate, and the particular circumstances and performance of particular companies whose securities the Fund holds. Although common stocks have historically generated higher average returns than fixed-income securities over the long term, common stocks also have experienced significantly more volatility in returns. An adverse event, such as an unfavorable earnings report, may depress the value of equity securities of an issuer held by the Fund; the price of common stock of an issuer may be particularly sensitive to general movements in the stock market; or a drop in the stock market may depress the price of most or all of the common stocks and other equity securities held by the Fund. Also, the common stock of an issuer in the Fund’s portfolio may decline in price if the issuer fails to make anticipated dividend payments because, among other reasons, the issuer of the security experiences a decline in its financial condition. Common equity securities in which the Fund will invest are structurally subordinated to preferred stocks, bonds, and other debt instruments in a company’s capital structure, in terms of priority to corporate income and liquidation preference, and therefore will be subject to greater dividend risk than preferred stocks or debt instruments of such issuers. Additionally, common stock prices may be sensitive to rising interest rates as the costs of capital rise and borrowing costs increase. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--LargeCompanyRiskMember_zMUKRjoCkPXk" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0.1pt 0pt 0.3pt; text-align: justify; text-indent: 35.7pt">Large company risk – The Fund may invest in larger, more established companies, which may be unable to respond quickly to new competitive challenges, such as changes in consumer tastes or innovative smaller competitors. Also, large companies are sometimes unable to attain the high growth rates of successful, smaller companies, especially during extended periods of economic expansion. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallcapAndMidcapStockRisksMember_zLnDgKarQVt2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Small-cap and Mid-cap stock risks – Investing in issuers within these categories carries the risk that the category may be out of favor due to current market conditions or investor sentiment. Because the Fund invests in securities issued by small-cap and mid-cap companies, it is likely to be more volatile than a fund that focuses on securities issued by larger companies. Small- and mid-cap-sized companies have less experienced management, narrower product lines, more limited financial resources, and less publicly available information than larger companies. In addition, small- and mid-cap-sized companies are typically more sensitive to changes in overall economic conditions, and their securities may be difficult to trade. <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--PortfolioTurnoverRiskMember_zVbNLuXm1i1h" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.3pt; text-align: justify; text-indent: 27.5pt; background-color: white">Portfolio Turnover Risk – The Fund may incur high portfolio turnover in connection with managing its investment exposure. High levels of portfolio transactions increase transaction costs and may result in increased taxable gains. Additionally, such trading may result in the realization of capital gains, including net short-term capital gains, which must generally be distributed to shareholders. Therefore, high portfolio turnover may reduce the Fund’s returns and increase taxable distributions to shareholders. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--SpecialSituationsRiskMember_zbq2W5Pk8Fu2" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Special Situations Risk – Investments in special situations (undervalued equities, merger arbitrage situations, distressed companies, etc.) may involve greater risks when compared to other investments the Fund may make due to a variety of factors. For example, mergers, acquisitions, reorganizations, liquidations, or recapitalizations may fail or not be completed on the terms originally contemplated, and expected developments may not occur in a timely manner, if at all. Short Sale Risk – The Fund may incur a loss (without limit) because of a short sale if the market value of the borrowed security (i.e., the Fund’s short position) increases between the date of the short sale and the date the Fund replaces the security. The Fund may be unable to repurchase the borrowed security at a particular time or at an acceptable price. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--OtherInvestmentCompaniesIncludingETFSRiskMember_zcavCYhEYv3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Other Investment Companies (Including ETFs) Risk – Investments in the securities of other investment companies, including ETFs, may involve duplication of advisory fees and certain other expenses. Additionally, if the investment company or ETF fails to achieve its investment objective, the value of the Fund’s investment will decline, adversely affecting the Fund’s performance. In addition, closed-end investment companies and ETF shares may potentially trade at a discount or a premium and are subject to brokerage and other trading costs, which could result in greater expenses to the Fund. In addition, the Fund may engage in short sales of the securities of other investment companies. When the Fund shorts securities of another investment company, it borrows shares of that investment company, which it then sells. The Fund closes out a short sale by purchasing the security that it has sold short and returning that security to the entity that lent the security. <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsRiskMember_zWFlE2JFHMk3" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.1pt; text-align: justify; text-indent: 35.9pt">Options risk – Purchasing and writing put and call options are highly specialized activities and entail greater than ordinary investment risks. The successful use of options depends in part on the ability of the Adviser to manage future price fluctuations and the degree of correlation between the options and securities markets. By writing put options on equity securities, the Fund strikes prices of the written put options but continues to bear the risk of declines in the value of its common stock portfolio. The Fund will receive a premium from writing a call option that it retains whether or not the option is exercised. The premium received from the written options may not be sufficient to offset any losses sustained from the volatility of the underlying equity securities over time. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--LimitsOnOptionSellingRiskMember_ztcjkHRbX5Sl" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Limits on Option Selling risk – The number of call options the Fund can sell is limited by the number of shares of common stock the Fund holds or cash collateral posted and further limited by the fact that the listed call options on individual common stocks generally trade in units representing 100 shares of the underlying stock. Furthermore, the Fund’s options transactions will be subject to limitations established by each of the exchanges, boards of trade, or other trading facilities on which such options are traded. Such limitations govern the maximum number of options in each class that may be sold or purchased by a single investor or group of investors acting in concert, regardless of whether the options are sold or purchased on the same or different exchanges, boards of trade, or other trading facilities or are held or sold in one or more accounts or through one or more brokers. So, the number of options that the Fund may sell or purchase may be affected by options sold or purchased by other investment advisory clients of the Adviser. An exchange, board of trade, or another trading facility may order the liquidation of positions found to be in excess of these limits and may impose certain other sanctions. <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--OptionsStrategyRiskMember_zuMfyJDLGFYf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Options Strategy risk – The Fund’s option strategies consist of selling and purchasing put and call options on equity indexes and ETFs and equity securities. The sale of put options generates income for the Fund but exposes it to the risk of declines in the value of the underlying assets. The risk in purchasing options is limited to the premium paid by the Fund for the options. The sale of call options generates income for the Fund but may limit the Fund’s participation in equity market gains. The Fund’s investment adviser seeks to reduce the overall volatility of returns for the Fund by managing a portfolio of options. <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--DerivativesRiskMember_zt0u9uedEZyi" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Derivatives risk – The use of derivatives can lead to losses because of adverse movements in the price or value of the asset, index, rate, or instrument underlying a derivative or due to the failure of a counterparty or due to tax or regulatory constraints. Derivatives may create economic leverage in the Fund, which magnifies the Fund’s exposure to the underlying investment. Derivatives risk may be more significant when derivatives are used to enhance return or as a substitute for a cash investment position rather than solely to hedge the risk of a position held by the Fund. When derivatives are used to gain or limit exposure to a particular market or market segment, their performance may not correlate as expected to the performance of such market, thereby causing the Fund to fail to achieve its original purpose for using such derivatives. The use of derivatives involves the exercise of specialized skill and judgment, and a transaction may be unsuccessful in whole or in part because of market behavior or unexpected events. Derivative instruments may be difficult to value, may be illiquid, and may be subject to wide swings in valuation caused by changes in the value of the underlying instrument. If a derivative’s counterparty is unable to honor its commitments, the value of the Fund shares may decline, and the Fund could experience delays in the return of collateral or other assets held by the counterparty. The loss on derivative transactions may significantly exceed the initial investment. <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--ConvertibleSecuritiesRiskMember_zkiM60r7ri94" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">Convertible Securities Risk – The values of convertible securities in which the Fund may invest may be affected by market interest rates. The values of convertible securities may also be affected by the risk of actual issuer default on interest or principal payments and the value of the underlying stock. Additionally, an issuer may retain the right to buy back its convertible securities at a time and price unfavorable to the Fund. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--GeneralFundInvestingRiskMember_zLVgVLTXvaNf" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.2pt; text-align: justify; text-indent: 35.8pt">General Fund Investing risk – The Fund is not a complete investment program, and you may lose money by investing in the Fund. All investments carry a certain amount of risk, and there is no guarantee that the Fund will be able to achieve its investment objective. Annual Fund operating expenses expressed as a percentage of the Fund’s average daily net assets may change as Fund assets increase and decrease, and Annual Fund operating expenses may differ in the future. Purchase and redemption activities by Fund shareholders may impact the management of the Fund and its ability to achieve its investment objective. Also, the redemption by one or more large shareholders or groups of shareholders of their holdings in the Fund could have an adverse impact on the remaining shareholders in the Fund. Investors in the Fund should have a long-term investment perspective and should be able to tolerate potentially sharp declines in value. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency, entity, or individual. Mutual funds, investment advisers, other market participants, and many securities markets are subject to rules and regulations and the jurisdiction of one or more regulators. Changes to applicable rules and regulations could have an adverse impact on securities markets and market participants, as well as on the Fund’s ability to execute its investment strategy. Performance. The bar chart below shows how the Fund’s investment results vary from year to year. The table below shows how the Fund’s average annual total returns compare over time to those of a broad-based securities market index. This information provides some indication of the risks of investing in the Fund. Past performance (before and after taxes) of the Fund is not necessarily an indication of how it will perform in the future. Updated performance information will be available at no cost by calling (877) 244-6235 or at the Fund’s website at www.m3sixtycapital.com. The bar chart below shows how the Fund’s investment results vary from year to year. Past performance (before and after taxes) of the Fund is not necessarily an indication of how it will perform in the future. (877) 244-6235 www.m3sixtycapital.com Institutional Class: Year-by-Year Total Return (for periods ended December 31) <div id="xdx_A8C_eoef--BarChartTableTextBlock_zZpVZjtZ1cZ3"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zD48sV4SPtOd" style="font: 10pt Times New Roman, Times, Serif; border-collapse: collapse; width: 100%" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: top; text-align: left"> <td style="width: 50%"> </td> <td style="display: none; width: 50%; visibility: hidden"> </td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2017</td> <td id="xdx_981_eoef--AnnlRtrPct_dp_c20170101__20171231__oef--ClassAxis__custom--C000164030Member_zG8TNEsG9Tz4" style="display: none; visibility: hidden" title="2023">8.69</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2018</td> <td id="xdx_989_eoef--AnnlRtrPct_dp_c20180101__20181231__oef--ClassAxis__custom--C000164030Member_zQS3sY3fqkFe" style="display: none; visibility: hidden" title="2023">-6.46</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2019</td> <td id="xdx_98C_eoef--AnnlRtrPct_dp_c20190101__20191231__oef--ClassAxis__custom--C000164030Member_zCjeKFIYUwLg" style="display: none; visibility: hidden" title="2023">13.28</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2020</td> <td id="xdx_98C_eoef--AnnlRtrPct_dp_c20200101__20201231__oef--ClassAxis__custom--C000164030Member_zqRFOLWxWcMi" style="display: none; visibility: hidden" title="2023">10.65</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2021</td> <td id="xdx_986_eoef--AnnlRtrPct_dp_c20210101__20211231__oef--ClassAxis__custom--C000164030Member_zgTJzbcbNcdh" style="display: none; visibility: hidden" title="2023">-1.24</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2022</td> <td id="xdx_985_eoef--AnnlRtrPct_dp_c20220101__20221231__oef--ClassAxis__custom--C000164030Member_zgpJ0adlpH8d" style="display: none; visibility: hidden" title="2023">-9.11</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2023</td> <td id="xdx_983_eoef--AnnlRtrPct_dp_c20230101__20231231__oef--ClassAxis__custom--C000164030Member_zU1c7XhClZja" style="display: none; visibility: hidden" title="2023">15.35</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2024</td> <td id="xdx_986_eoef--AnnlRtrPct_dp_c20240101__20241231__oef--ClassAxis__custom--C000164030Member_zRVdTvrOZ6r8" style="display: none; visibility: hidden" title="2023">18.58</td></tr> <tr style="display: none; vertical-align: top; text-align: left; visibility: hidden"> <td style="display: none; visibility: hidden">2025</td> <td id="xdx_98E_eoef--AnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000164030Member_zuaVSAgeLF03" style="display: none; visibility: hidden" title="2023">11.40</td></tr> </table> <img alt="" src="bpos001.jpg"/> 0.0869 -0.0646 0.1328 0.1065 -0.0124 -0.0911 0.1535 0.1858 0.1140 During the period shown in the bar chart, the highest return for a quarter was 18.99% during the quarter ended June 30, 2020, and the lowest return for a quarter was (19.92)% during the quarter ended March 31, 2020. highest return for a quarter 0.1899 2020-06-30 lowest return for a quarter -0.1992 2020-03-31 Average Annual Total Returns (for the periods ended December 31, 2025) <div id="xdx_A89_eoef--PerformanceTableTextBlock_zQZ58PAc21Rk"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zAp78Gxqn1A8" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Total Returns"> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 46%; text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">M3Sixty Income and Opportunity Fund</td> <td id="xdx_499_20250101__20251231_zFcMm3NMDq8d" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">One Year</td> <td id="xdx_49E_20210101__20251231_znkv5Uk8Eao6" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 16%; text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Five Years</td> <td id="xdx_497_20160121__20251231_zgEkngEded84" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; width: 22%; text-align: center; vertical-align: bottom; padding-right: 5.4pt; padding-left: 5.4pt">Since Inception (January 21, 2016)</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: bold 10pt Times New Roman, Times, Serif; text-align: justify; padding-right: 5.4pt; padding-left: 5.4pt">Institutional Class</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_hoef--ClassAxis__custom--C000164030Member_zzy44R2YJON6" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Return Before Taxes</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">11.40%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">6.46%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">6.98%</td></tr> <tr id="xdx_408_eoef--AvgAnnlRtrPct_hoef--ClassAxis__custom--C000164030Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zVP4k0AKdGa2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Return After Taxes on Distributions</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">8.53%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">5.22%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">5.44%</td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_hoef--ClassAxis__custom--C000164030Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zTovbGbYP3k2" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Return After Taxes on Distributions and Sale of Fund Shares</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">7.76%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">4.77%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">5.06%</td></tr> <tr style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Class A</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt"> </td></tr> <tr id="xdx_405_eoef--AvgAnnlRtrPct_hoef--ClassAxis__custom--C000164029Member_zDApJbMe45Aj" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">Return Before Taxes</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">5.01%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">5.01%</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; text-align: center; padding-right: 5.4pt; padding-left: 5.4pt">6.11%</td></tr> <tr id="xdx_40E_eoef--AvgAnnlRtrPct_hoef--PerformanceMeasureAxis__custom--SAndPIndexMember_z4tlUAaf0LIl" style="font: 10pt Times New Roman, Times, Serif; vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">S&P 500® Total Return Index1 (reflects no deduction for fees, expenses, or taxes)</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">17.88% </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">14.42% </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; font: 10pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">15.93% </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; margin-top: 0; margin-bottom: 6pt; width: 100%"><tr style="vertical-align: top; text-align: justify"> <td style="width: 15pt; text-align: right">1</td><td style="width: 5pt"></td><td style="text-align: justify">The S&P 500® Total Return Index is a broad unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. Please note that indices do not take into account any fees and expenses for investing in the individual securities that they track, and individuals cannot invest directly in any index.</td> </tr></table> 2016-01-21 2016-01-21 0.1140 0.0646 0.0698 0.0853 0.0522 0.0544 0.0776 0.0477 0.0506 0.0501 0.0501 0.0611 (reflects no deduction for fees, expenses, or taxes) 0.1788 0.1442 0.1593 The average annual total returns for the Fund’s Class A shares are reduced to reflect the maximum applicable sales charge. After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2025, 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. After-tax returns are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). After-tax returns are shown for only the Institutional Class shares, and after-tax returns for the Class A shares will vary. The average annual total returns for the Fund’s Class A shares are reduced to reflect the maximum applicable sales charge. After-tax returns are calculated using the historical highest individual federal income tax rates in effect as of December 31, 2025, and do not reflect the impact of state and local taxes. After-tax returns are not relevant to investors who hold their fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts (“IRAs”). After-tax returns are shown for only the Institutional Class shares, and after-tax returns for the Class A shares will vary. Contingent Deferred Sales Charge applies only when a shareholder purchase in the Fund totals $1 million or more, and shares are redeemed within one year from the date of purchase. M3Sixty Capital, LLC (the “Adviser”) has entered into an Expense Limitation Agreement with the Fund under which it has agreed to waive or reduce its fees and to assume other expenses of the Fund, if necessary, in an amount that limits the Fund’s annual operating expenses (excluding interest, borrowing expenses, distribution fees pursuant to Rule 12b-1 Plans, taxes, acquired fund fees and expenses, brokerage fees and commissions, dividend expenses on short sales, litigation expenses, expenditures which are capitalized following generally accepted accounting principles, and other extraordinary expenses not incurred in the ordinary course of such Fund’s business) to not more than 1.95% through at least March 31, 2027. Each waiver or reimbursement of an expense by the Adviser is subject to repayment by the Fund within three years from the date of the waiver or reimbursement, provided that the Fund can make the repayment without exceeding the expense limitation in place at the time of the waiver or reimbursement and at the time of recoupment. The current contractual agreement cannot be terminated for at least one year after the effective date without the Board of Trustees’ (the “Board”) approval. The S&P 500® Total Return Index is a broad unmanaged index of 500 stocks, which is widely recognized as representative of the equity market in general. Please note that indices do not take into account any fees and expenses for investing in the individual securities that they track, and individuals cannot invest directly in any index.