0001506980 2025-06-01 2026-05-31 0001506980 tarkx:C000097869Member 2025-06-01 2026-05-31 0001506980 tarkx:C000097869Member 2021-06-01 2026-05-31 0001506980 tarkx:C000097869Member 2016-06-01 2026-05-31 0001506980 tarkx:SP500IndexMember 2025-06-01 2026-05-31 0001506980 tarkx:SP500IndexMember 2021-06-01 2026-05-31 0001506980 tarkx:SP500IndexMember 2016-06-01 2026-05-31 0001506980 tarkx:C000097869Member 2026-05-31 0001506980 tarkx:C000097869Member tarkx:BasicMaterialsMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:CommunicationServicesMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:ConsumerCyclicalMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:ConsumerDefensiveMember 2026-05-31 0001506980 tarkx:C000097869Member us-gaap:FinancialServicesSectorMember 2026-05-31 0001506980 tarkx:C000097869Member us-gaap:HealthcareSectorMember 2026-05-31 0001506980 tarkx:C000097869Member oef:IndustrialSectorMember 2026-05-31 0001506980 tarkx:C000097869Member us-gaap:MoneyMarketFundsMember 2026-05-31 0001506980 tarkx:C000097869Member us-gaap:RealEstateSectorMember 2026-05-31 0001506980 tarkx:C000097869Member us-gaap:TechnologySectorMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:LumenTechnologiesIncMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:CongexCorpMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:GeneralElectricCoMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:TheMantiowocCompanyIncMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:GEVernovaLLCMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:ModineManufacturingCoMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:InternationalPaperCoMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:BaxterInternationalIncMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:AzentaIncMember 2026-05-31 0001506980 tarkx:C000097869Member tarkx:CoherentCorpMember 2026-05-31 0001506980 tarkx:C000097869Member 2016-05-01 2016-05-31 0001506980 tarkx:SP500IndexMember 2016-05-01 2016-05-31 0001506980 tarkx:C000097869Member 2016-11-01 2016-11-30 0001506980 tarkx:SP500IndexMember 2016-11-01 2016-11-30 0001506980 tarkx:C000097869Member 2017-05-01 2017-05-31 0001506980 tarkx:SP500IndexMember 2017-05-01 2017-05-31 0001506980 tarkx:C000097869Member 2017-11-01 2017-11-30 0001506980 tarkx:SP500IndexMember 2017-11-01 2017-11-30 0001506980 tarkx:C000097869Member 2018-05-01 2018-05-31 0001506980 tarkx:SP500IndexMember 2018-05-01 2018-05-31 0001506980 tarkx:C000097869Member 2018-11-01 2018-11-30 0001506980 tarkx:SP500IndexMember 2018-11-01 2018-11-30 0001506980 tarkx:C000097869Member 2019-05-01 2019-05-31 0001506980 tarkx:SP500IndexMember 2019-05-01 2019-05-31 0001506980 tarkx:C000097869Member 2019-11-01 2019-11-30 0001506980 tarkx:SP500IndexMember 2019-11-01 2019-11-30 0001506980 tarkx:C000097869Member 2020-05-01 2020-05-31 0001506980 tarkx:SP500IndexMember 2020-05-01 2020-05-31 0001506980 tarkx:C000097869Member 2020-11-01 2020-11-30 0001506980 tarkx:SP500IndexMember 2020-11-01 2020-11-30 0001506980 tarkx:C000097869Member 2021-05-01 2021-05-31 0001506980 tarkx:SP500IndexMember 2021-05-01 2021-05-31 0001506980 tarkx:C000097869Member 2021-11-01 2021-11-30 0001506980 tarkx:SP500IndexMember 2021-11-01 2021-11-30 0001506980 tarkx:C000097869Member 2022-05-01 2022-05-31 0001506980 tarkx:SP500IndexMember 2022-05-01 2022-05-31 0001506980 tarkx:C000097869Member 2022-11-01 2022-11-30 0001506980 tarkx:SP500IndexMember 2022-11-01 2022-11-30 0001506980 tarkx:C000097869Member 2023-05-01 2023-05-31 0001506980 tarkx:SP500IndexMember 2023-05-01 2023-05-31 0001506980 tarkx:C000097869Member 2023-11-01 2023-11-30 0001506980 tarkx:SP500IndexMember 2023-11-01 2023-11-30 0001506980 tarkx:C000097869Member 2024-05-01 2024-05-31 0001506980 tarkx:SP500IndexMember 2024-05-01 2024-05-31 0001506980 tarkx:C000097869Member 2024-11-01 2024-11-30 0001506980 tarkx:SP500IndexMember 2024-11-01 2024-11-30 0001506980 tarkx:C000097869Member 2025-05-01 2025-05-31 0001506980 tarkx:SP500IndexMember 2025-05-01 2025-05-31 0001506980 tarkx:C000097869Member 2025-11-01 2025-11-30 0001506980 tarkx:SP500IndexMember 2025-11-01 2025-11-30 0001506980 tarkx:C000097869Member 2026-05-01 2026-05-31 0001506980 tarkx:SP500IndexMember 2026-05-01 2026-05-31 iso4217:USD pure tarkx:Holdings false N-1A 0001506980 N-CSR Clark Fork Trust 2026-05-31 TARKIO FUND TARKX ADDITIONAL INFORMATION This annual shareholder report contains important information about the Tarkio Fund - TARKX (the “Fund”) for the period June 1, 2025 to May 31, 2026. annual shareholder report Tarkio Fund You can find additional information about the Fund at https://tarkiofund.com. You can also request this information by contacting us at 1-866-738-3629. https://tarkiofund.com 1-866-738-3629 What were the Fund costs for the past year? (based on a hypothetical $10,000 investment) <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 35%; padding-right: 5.4pt; padding-left: 5.4pt">Fund Name</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 23%; padding-right: -7.5pt; padding-left: 5.4pt; text-align: center">Costs of a $10,000 investment</td> <td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 42%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Costs paid as a percentage of a $10,000 investment *</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Tarkio Fund</td> <td id="xdx_98E_eoef--ExpensesPaidAmt_c20250601__20260531__oef--ClassAxis__custom--C000097869Member_zKSXE5xOWnq" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$133</td> <td id="xdx_98C_eoef--ExpenseRatioPct_c20250601__20260531__oef--ClassAxis__custom--C000097869Member_zVdNBZf3Kgok" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1.00%</td></tr> </table> *Annualized 133 0.0100 managment’s discussion of fund performance The Tarkio Fund (the “Fund”) seeks to identify companies whose leaders and cultures create long term competitive advantage by engaging employees, delighting customers, adapting and innovating, and continuously improving. Our criteria focus on six attributes: (1) Humility, Integrity, and Trust; (2) Long Term Focus; (3) Purpose and Passion; (4) Teamwork—Cooperation, Not Competition; (5) Employee Empowerment—Driving Fear Out of the Organization; and (6) Disciplined Capital Allocation. We reduce or exit positions only when a company’s culture or leadership drifts from these principles; otherwise, our intention is to hold through short term economic cycles and geopolitical or macroeconomic events. For the 1 year period ending May 31, 2026, the S&P 500 Index rose 29.78%. The Tarkio Fund increased 65.07% over the same period. Performance was meaningfully aided by several long held optical communications companies, including Lumentum (LITE, +1027.02%), Ciena (CIEN, +609.76%), Coherent (COHR, +370.79%), and Corning (GLW, +214.12%). During the period, we aggressively pared back these positions to reallocate capital toward newer holdings discussed in recent quarterly letters. These companies—Azenta, Baxter, Enovis, International Paper, HNI Corp., and Gentherm—are in early stages of Lean cultural transformation and currently trade at significantly lower valuations than the companies we have been trimming. As a result, the average valuation of the overall portfolio has been reduced by a meaningful amount. The Fund’s weakest performers for the same period were International Paper (IP, –29.09%), ESAB Corp. (ESAB, –24.37%), and Enovis (ENOV, –23.51%). We believe these price movements primarily reflected short term reactions to temporary geopolitical and macroeconomic conditions rather than changes in long term business quality. In response, we purchased substantial additional shares in what we believe to be high quality holdings at prices that represent compelling Lean turnaround opportunities. We are very comfortable with the current composition of the Fund and believe it is well positioned to continue compounding meaningful wealth for our long term partners. Our focus remains on investing in organizations whose cultures are improving and whose leaders are committed to long term value creation. We thank you for your investment in the Tarkio Fund. HOW DID THE FUND PERFORM DURING THE LAST TEN YEARS? AVERAGE ANNUAL RETURNS <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="border-top: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; width: 39%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="border-top: Black 1pt solid; white-space: nowrap; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1 Year</td> <td style="border-top: Black 1pt solid; width: 20%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5 Years</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; width: 21%; padding-right: -5.55pt; padding-left: 5.4pt; text-align: center">10 Years</td></tr> <tr style="vertical-align: bottom"> <td style="border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Tarkio Fund</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_c20250601__20260531__oef--ClassAxis__custom--C000097869Member_zUum5znZrZTl" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">65.07%</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_c20210601__20260531__oef--ClassAxis__custom--C000097869Member_zKHXJqgeQJEi" style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">11.19%</td> <td id="xdx_986_eoef--AvgAnnlRtrPct_c20160601__20260531__oef--ClassAxis__custom--C000097869Member_zJwCcLRRYukd" style="border-right: Black 1pt solid; padding-right: 1.3pt; padding-left: 5.4pt; text-align: center">15.33%</td></tr> <tr style="vertical-align: bottom"> <td style="border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: -4.05pt; padding-left: 5.4pt">S&P 500 ® Index</td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_c20250601__20260531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zSQWvoriy6s" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">29.78%</td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_c20210601__20260531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_z2W2xa4w5yI7" style="border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">14.16%</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_c20160601__20260531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zazj45dkoOt6" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 1.3pt; padding-left: 5.4pt; text-align: center">15.65%</td></tr> </table> Cumulative Performance Comparison of $10,000 Investment <img alt="" src="image_002.gif" style="height: 273px; width: 455px"/> Past performance is not a good predictor of future performance. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-866-738-3629. 0.6507 0.1119 0.1533 0.2978 0.1416 0.1565 Past performance is not a good predictor of future performance Fund statistics <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 27%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">PORTFOLIO</td> <td style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">PORTFOLIO</td> <td style="white-space: nowrap; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">ADVISORY FEES</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">NET ASSETS:</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">HOLDINGS:</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">TURNOVER:</td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">PAID BY FUND:</td></tr> <tr style="vertical-align: bottom"> <td id="xdx_988_eus-gaap--AssetsNet_iI_c20260531__oef--ClassAxis__custom--C000097869Member_z16JeQMhmxkf" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$257,789,059</td> <td id="xdx_98E_eoef--HoldingsCount_iI_uHoldings_c20260531__oef--ClassAxis__custom--C000097869Member_zHPEYwsYQWj9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">36</td> <td id="xdx_982_eus-gaap--InvestmentCompanyPortfolioTurnover_c20250601__20260531__oef--ClassAxis__custom--C000097869Member_zL1GGOfGhlZh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">24.43%</td> <td id="xdx_98E_eoef--AdvisoryFeesPaidAmt_c20250601__20260531__oef--ClassAxis__custom--C000097869Member_z1kalFb2o3oe" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$1,564,632</td></tr> </table>

257789059

0.2443

1564632 WHAT ARE THE FUND’S HOLDINGS? PORTFOLIO ILLUSTRATION The following chart gives a visual breakdown of the Fund by the sectors the underlying securities represent as a percentage of the portfolio of investments. <img alt="" src="image_003.gif" style="height: 314px; width: 457px"/> Sectors are categorized using Morningstar® classifications <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; display: none; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 72%; padding-right: 5.4pt; padding-left: 5.4pt">Basic Materials</td> <td id="xdx_983_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__custom--BasicMaterialsMember_z4kSfcDR1Oil" style="white-space: nowrap; width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.02%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Communication Services</td> <td id="xdx_987_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__custom--CommunicationServicesMember_zr2xpB02xwL7" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">17.27%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Consumer Cyclical</td> <td id="xdx_98A_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__custom--ConsumerCyclicalMember_zymZQBb7ZwHh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">15.25%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Consumer Defensive</td> <td id="xdx_988_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__custom--ConsumerDefensiveMember_zIaEcR67Y3bh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.31%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Financial Services</td> <td id="xdx_986_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__us-gaap--FinancialServicesSectorMember_zLdY6VesaGLd" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.37%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Healthcare</td> <td id="xdx_989_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__us-gaap--HealthcareSectorMember_zr6KyTck8vqh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">14.56%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Industrials</td> <td id="xdx_98A_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__oef--IndustrialSectorMember_z2HhRov0PxAf" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">28.37%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Money Market Fund</td> <td id="xdx_981_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__us-gaap--MoneyMarketFundsMember_zEjnysdA4M2e" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.46%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Real Estate</td> <td id="xdx_987_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__us-gaap--RealEstateSectorMember_zoOekpSQbL5f" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">54.00%</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Technology</td> <td id="xdx_988_eoef--PctOfTotalInv_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--IndustrySectorAxis__us-gaap--TechnologySectorMember_z5908VOf0Bs3" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">21.85%</td></tr> </table> 0.0102 0.1727 0.1525 0.0031 0.0037 0.1456 0.2837 0.0046 0.5400 0.2185 TOP TEN HOLDINGS (% OF NET ASSETS) <table cellpadding="0" cellspacing="0" style="font: 11pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td style="width: 11%; padding-right: 5.4pt; padding-left: 5.4pt">1.</td> <td style="white-space: nowrap; width: 65%; padding-right: -9.75pt; padding-left: 5.4pt">Lumen Technologies, Inc.</td> <td id="xdx_988_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--LumenTechnologiesIncMember_zS5JcoRY1Iyb" style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">17.27%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">2.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">Cognex Corp.</td> <td id="xdx_98A_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--CongexCorpMember_zzM2lu7r7Q2c" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">11.22%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">3.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">General Electric Co.</td> <td id="xdx_987_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--GeneralElectricCoMember_zKxp6fnOAyT9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">9.98%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">4.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">The Manitowoc Company, Inc.</td> <td id="xdx_981_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--TheMantiowocCompanyIncMember_z529jOT9IObc" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.98%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">5.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">GE Vernova, LLC</td> <td id="xdx_983_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--GEVernovaLLCMember_z3Hyqrp48K4l" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.68%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">6.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">Modine Manufacturing Co.</td> <td id="xdx_98A_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--ModineManufacturingCoMember_zVWRSMqniOe1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.89%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">7.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">International Paper Co.</td> <td id="xdx_989_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--InternationalPaperCoMember_zAgtvtt17mnl" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.30%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">8.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">Baxter International, Inc.</td> <td id="xdx_989_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--BaxterInternationalIncMember_z3OqoB3W36X7" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.29%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt">9.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">Azenta, Inc.</td> <td id="xdx_98A_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--AzentaIncMember_zS19e1fDhH8i" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.26%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: -2.45pt; padding-left: 5.4pt">10.</td> <td style="white-space: nowrap; padding-right: -9.75pt; padding-left: 5.4pt">Coherent Corp.</td> <td id="xdx_98D_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member__oef--LargestHoldingAxis__custom--CoherentCorpMember_z5ERvMhiIdZa" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.28%</td></tr> <tr style="vertical-align: bottom"> <td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> Total % of Net Assets</td> <td id="xdx_984_eoef--PctOfNav_iI_c20260531__oef--ClassAxis__custom--C000097869Member_z8gHdroQpvyd" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">71.15%</td></tr> </table> 0.1727 0.1122 0.0998 0.0598 0.0568 0.0489 0.0430 0.0429 0.0426 0.0328 0.7115 https://tarkiofund.com 1-866-738-3629 <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; display: none; width: 100%; border-collapse: collapse"> <tr style="vertical-align: bottom"> <td colspan="3" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Tarkio Cumulative Performance Comparison Line Graph</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt"> </td> <td style="white-space: nowrap; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">Tarkio Fund</td> <td style="white-space: nowrap; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">S&P 500 Index</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">05/31/16</td> <td id="xdx_98F_eoef--AccmVal_c20160501__20160531__oef--ClassAxis__custom--C000097869Member_ztn1UjhfnBk9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10,000</td> <td id="xdx_980_eoef--AccmVal_c20160501__20160531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zpQDPFqUeyN2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10,000</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/16</td> <td id="xdx_981_eoef--AccmVal_c20161101__20161130__oef--ClassAxis__custom--C000097869Member_zmcwhO3Sajah" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">11,785</td> <td id="xdx_987_eoef--AccmVal_c20161101__20161130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zp2jrw6iF4Pi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10,601</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">05/31/17</td> <td id="xdx_986_eoef--AccmVal_c20170501__20170531__oef--ClassAxis__custom--C000097869Member_zjFYUbwGp99e" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13,207</td> <td id="xdx_989_eoef--AccmVal_c20170501__20170531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zUWkG7PewCT9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">11,746</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/17</td> <td id="xdx_986_eoef--AccmVal_c20171101__20171130__oef--ClassAxis__custom--C000097869Member_zNVQuGsfu0E6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">15,216</td> <td id="xdx_988_eoef--AccmVal_c20171101__20171130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_z7mEaPrBE8fi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13,025</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">05/31/18</td> <td id="xdx_986_eoef--AccmVal_c20180501__20180531__oef--ClassAxis__custom--C000097869Member_zGlXstIKVkYh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">14,554</td> <td id="xdx_982_eoef--AccmVal_c20180501__20180531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zNgYzx6qIxr2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13,434</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2018</td> <td id="xdx_981_eoef--AccmVal_c20181101__20181130__oef--ClassAxis__custom--C000097869Member_zUhEogjMn4g1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13,845</td> <td id="xdx_984_eoef--AccmVal_c20181101__20181130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zximqThlI6pa" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13,840</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2019</td> <td id="xdx_98E_eoef--AccmVal_c20190501__20190531__oef--ClassAxis__custom--C000097869Member_z82BoNrZy2A3" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13,192</td> <td id="xdx_981_eoef--AccmVal_c20190501__20190531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zJpqUIXccQZj" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13,942</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2019</td> <td id="xdx_98A_eoef--AccmVal_c20191101__20191130__oef--ClassAxis__custom--C000097869Member_zxKEAr0L0Bmk" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">15,135</td> <td id="xdx_987_eoef--AccmVal_c20191101__20191130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zZCe7eyaXMn6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">16,069</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2020</td> <td id="xdx_988_eoef--AccmVal_c20200501__20200531__oef--ClassAxis__custom--C000097869Member_z2y7NT82SNHi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">12,709</td> <td id="xdx_984_eoef--AccmVal_c20200501__20200531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zn9NIDxCSiA4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">15,732</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2020</td> <td id="xdx_98F_eoef--AccmVal_c20201101__20201130__oef--ClassAxis__custom--C000097869Member_zHXIgjJCJeo8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">17,991</td> <td id="xdx_985_eoef--AccmVal_c20201101__20201130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_z3CHou9a2mw5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">18,874</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2021</td> <td id="xdx_984_eoef--AccmVal_c20210501__20210531__oef--ClassAxis__custom--C000097869Member_zuCc6z0Q5yag" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">24,490</td> <td id="xdx_984_eoef--AccmVal_c20210501__20210531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zz8jZoybx6h1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">22,071</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2021</td> <td id="xdx_98F_eoef--AccmVal_c20211101__20211130__oef--ClassAxis__custom--C000097869Member_zmw44n38S8nl" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">23,420</td> <td id="xdx_980_eoef--AccmVal_c20211101__20211130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zJtCisqk65w3" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">24,140</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2022</td> <td id="xdx_984_eoef--AccmVal_c20220501__20220531__oef--ClassAxis__custom--C000097869Member_zHICSN0MPlf4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">20,340</td> <td id="xdx_983_eoef--AccmVal_c20220501__20220531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zuSOIfUSjKK6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">22,002</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2022</td> <td id="xdx_98A_eoef--AccmVal_c20221101__20221130__oef--ClassAxis__custom--C000097869Member_z5Ew6oC8ApN1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">17,525</td> <td id="xdx_985_eoef--AccmVal_c20221101__20221130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zejf1KBICTi6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">21,914</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2023</td> <td id="xdx_98E_eoef--AccmVal_c20230501__20230531__oef--ClassAxis__custom--C000097869Member_zZRmXPZrC5Tk" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">18,382</td> <td id="xdx_984_eoef--AccmVal_c20230501__20230531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zsvVqaY2MiZf" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">22,645</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2023</td> <td id="xdx_98C_eoef--AccmVal_c20231101__20231130__oef--ClassAxis__custom--C000097869Member_zDsxRMUhecfe" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">19,279</td> <td id="xdx_989_eoef--AccmVal_c20231101__20231130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zS72OKUh7OOa" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">24,947</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2024</td> <td id="xdx_989_eoef--AccmVal_c20240501__20240531__oef--ClassAxis__custom--C000097869Member_zh4hubqBvJSj" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">22,991</td> <td id="xdx_981_eoef--AccmVal_c20240501__20240531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zEK4HdezeLMb" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">29,027</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2024</td> <td id="xdx_983_eoef--AccmVal_c20241101__20241130__oef--ClassAxis__custom--C000097869Member_zGo8wnkpeLsh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">29,135</td> <td id="xdx_987_eoef--AccmVal_c20241101__20241130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zjJ1Cc8wexw" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">33,402</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2025</td> <td id="xdx_985_eoef--AccmVal_c20250501__20250531__oef--ClassAxis__custom--C000097869Member_zq6N6H7b1oca" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">25,216</td> <td id="xdx_98C_eoef--AccmVal_c20250501__20250531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zCw98TyzcNf2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">32,953</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">11/30/2025</td> <td id="xdx_98F_eoef--AccmVal_c20251101__20251130__oef--ClassAxis__custom--C000097869Member_zP1yuY8wS4pi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">33,239</td> <td id="xdx_98D_eoef--AccmVal_c20251101__20251130__oef--BroadBasedIndexAxis__custom--SP500IndexMember_z86hKE4gM562" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">38,412</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">5/31/2026</td> <td id="xdx_981_eoef--AccmVal_c20260501__20260531__oef--ClassAxis__custom--C000097869Member_zpXRe3QQ69Ki" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">41,624</td> <td id="xdx_982_eoef--AccmVal_c20260501__20260531__oef--BroadBasedIndexAxis__custom--SP500IndexMember_zH7KUiOQdjK6" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">42,767</td></tr> </table> 10000 10000 11785 10601 13207 11746 15216 13025 14554 13434 13845 13840 13192 13942 15135 16069 12709 15732 17991 18874 24490 22071 23420 24140 20340 22002 17525 21914 18382 22645 19279 24947 22991 29027 29135 33402 25216 32953 33239 38412 41624 42767