0001761511 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member ncgxx:StableNavRiskMember 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member us-gaap:InterestRateRiskMember 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member ncgxx:MarketRiskMember 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member ncgxx:ManagementRiskMember 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member us-gaap:CreditRiskMember 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member ncgxx:RepurchaseAgreementsRiskMember 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member ncgxx:UsGovernmentSecuritiesRiskMember 2026-08-28 2026-08-28 0001761511 ncgxx:C000210425Member 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member oef:RiskLoseMoneyMember 2026-08-28 2026-08-28 0001761511 ncgxx:S000064982Member oef:RiskNotInsuredMember 2026-08-28 2026-08-28 0001761511 ncgxx:C000210425Member 2020-01-01 2020-12-31 0001761511 ncgxx:C000210425Member 2021-01-01 2021-12-31 0001761511 ncgxx:C000210425Member 2022-01-01 2022-12-31 0001761511 ncgxx:C000210425Member 2023-01-01 2023-12-31 0001761511 ncgxx:C000210425Member 2024-01-01 2024-12-31 0001761511 ncgxx:C000210425Member 2025-01-01 2025-12-31 0001761511 ncgxx:C000210425Member 2021-01-01 2025-12-31 0001761511 ncgxx:C000210425Member 2019-07-17 2025-12-31 0001761511 ncgxx:ThreemonthTreasuryBillinSecondaryMarketTransactionsMember 2025-01-01 2025-12-31 0001761511 ncgxx:ThreemonthTreasuryBillinSecondaryMarketTransactionsMember 2021-01-01 2025-12-31 0001761511 ncgxx:ThreemonthTreasuryBillinSecondaryMarketTransactionsMember 2019-07-17 2025-12-31 iso4217:USD pure false 485BPOS 0001761511 2026-08-28 N-1A NORTH CAPITAL FUNDS TRUST 2026-08-28 FUND SUMMARY Investment Objective: The North Capital Treasury Money Market Fund (the “Fund”) seeks to maximize current income to the extent consistent with the preservation of capital and the maintenance of liquidity. 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 table and example below. <div id="xdx_A86_eoef--ShareholderFeesTableTextBlock_zLqIbop3qZB4"></div> <table cellpadding="0" cellspacing="0" id="xdx_A55_dU_zLxwmaJIgEOe" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td style="width: 85%; text-align: justify">Shareholder Fees  </td> <td id="xdx_49B_20260828__20260828__oef--ClassAxis__custom--C000210425Member_z8vx6H0e36Ea" style="width: 15%; text-align: center">Institutional</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">(fees paid directly from your investment)</td> <td style="text-align: center">Class</td></tr> <tr id="xdx_405_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zSKq21A8qUpd" style="vertical-align: top"> <td> Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of offering price)</td> <td style="text-align: center">None</td></tr> <tr id="xdx_408_eoef--MaximumDeferredSalesChargeOverOfferingPrice_dpn_z5yrt8IZFHS5" style="vertical-align: top"> <td> Maximum Deferred Sales Charge (Load) (as a percentage of offering price)</td> <td style="text-align: center">None</td></tr> <tr id="xdx_400_eoef--MaximumSalesChargeOnReinvestedDividendsAndDistributionsOverOther_dpn_znYS2odINwag" style="vertical-align: top"> <td style="text-align: justify">Maximum Sales Charge (Load) Imposed on Reinvested Dividends and other Distributions (as a percentage of offering price)</td> <td style="text-align: center">None</td></tr> <tr id="xdx_404_eoef--RedemptionFeeOverRedemption_dn_zPkZRALYzBC1" style="vertical-align: top"> <td style="text-align: justify">Redemption Fee</td> <td style="text-align: center">None</td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">(as a % of amount redeemed on shares held less than 90 days)</td> <td style="text-align: center"> </td></tr> </table> Shareholder Fees (fees paid directly from your investment) 0 0 0 0 <div id="xdx_A83_eoef--AnnualFundOperatingExpensesTableTextBlock_z39nIpUjCVHa"></div> <table cellpadding="0" cellspacing="0" id="xdx_A52_dU_zT14sSdaVG8j" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td style="width: 85%; text-align: justify">Annual Fund Operating Expenses  </td> <td id="xdx_49B_20260828__20260828__oef--ClassAxis__custom--C000210425Member_zLE7hjD8D54i" style="width: 15%; text-align: center"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">(expenses that you pay each year </td> <td style="text-align: center"> </td></tr> <tr style="vertical-align: top"> <td style="text-align: justify">as a percentage of the value of your investment)</td> <td style="text-align: center"> </td></tr> <tr id="xdx_40B_eoef--ManagementFeesOverAssets_dpn_zY2yd3oXS0n6" style="vertical-align: top"> <td style="text-align: justify">Management Fees</td> <td style="text-align: center">0.25%</td></tr> <tr id="xdx_404_eoef--DistributionAndService12b1FeesOverAssets_dpn_z2tWZUvIiDE7" style="vertical-align: top"> <td style="text-align: justify">Distribution and Service (12b-1) Fees</td> <td style="text-align: center">0.00%</td></tr> <tr id="xdx_408_eoef--OtherExpensesOverAssets_dpn_z2VY7J5U3bae" style="vertical-align: top"> <td style="text-align: justify">Other Expenses</td> <td style="text-align: center">0.62%</td></tr> <tr id="xdx_40D_eoef--ExpensesOverAssets_dpn_zCjIHZ9RPAc3" style="vertical-align: top"> <td style="text-align: justify">Total Annual Fund Operating Expenses</td> <td style="border-bottom: black 1pt solid; text-align: center">0.87%</td></tr> <tr id="xdx_409_eoef--FeeWaiverOrReimbursementOverAssets_dp_za4x2oZRIr33" style="vertical-align: top"> <td style="text-align: justify">Fee Waiver(1)</td> <td style="text-align: center">(0.42%)</td></tr> <tr id="xdx_404_eoef--NetExpensesOverAssets_dpn_zdD3krv7Fjb3" style="vertical-align: top"> <td style="text-align: justify">Total Annual Fund Operating Expenses After Fee Waiver(1)</td> <td style="text-align: center">0.45%*</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 30px">(1)</td> <td style="text-align: justify">North Capital, Inc., the Fund’s investment adviser (the “Adviser”) has contractually agreed to waive its fees and reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions; (iii) unaffiliated acquired fund fees and expenses; (iv) fees and expenses associated with investments in other collective investment vehicles or derivative instruments (including for example option and swap fees and expenses); (v) borrowing costs (such as interest and dividend expense on securities sold short) (vi) taxes; (vii) extraordinary expenses such as litigation expenses (which may include indemnification of Fund officers and Trustees, and contractual indemnification of Fund service providers, including the Adviser)) will not exceed (i) 0.45% of average daily net assets of Institutional Class shares until at least August 31, 2027 and (ii) 1.00% of average daily net assets of Institutional Class Shares until at least August 31, 2036. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if there are waived amounts that have not been recouped outstanding and such recoupment, after giving effect to the recouped amounts, can be achieved within the lower of the foregoing expense limits and the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees (the “Board”) of North Capital Funds Trust (the “Trust”), of which the Fund is a series, on 60 days’ written notice to the Adviser.</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 2%; text-align: justify">*</td> <td style="width: 98%; text-align: justify">The total net operating expense ratio will not match the Fund’s financial statements because the financial statements reflect the application of the Adviser’s voluntary expense limitation agreement.</td></tr> </table> Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) 0.0025 0.0000 0.0062 0.0087 -0.0042 0.0045 August 31, 2036 Example: This Example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The Example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem or continue to hold all of your shares at the end of those periods. The Example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. The Example reflects the fee waiver and expense reimbursements for the duration of the waiver/reimbursement period only. Although your actual costs may be higher or lower, based upon these assumptions your costs would be: <div id="xdx_A84_eoef--ExpenseExampleWithRedemptionTableTextBlock_zaVr7G6Bkvkc"></div> <table cellpadding="0" cellspacing="0" id="xdx_A56_dU_zeVMimZ9yqZ9" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top"> <td style="width: 20%; text-align: justify"> </td> <td id="xdx_485_eoef--ExpenseExampleYear01_zYcKe4wjHmB8" style="width: 20%; text-align: center">1 Year</td> <td id="xdx_484_eoef--ExpenseExampleYear03_z2NIb5kpjOhd" style="width: 20%; text-align: center">3 Years</td> <td id="xdx_488_eoef--ExpenseExampleYear05_z8LB8voo9wh6" style="width: 20%; text-align: center">5 Years</td> <td id="xdx_483_eoef--ExpenseExampleYear10_z7AmbjfF9dnd" style="width: 20%; text-align: center">10 Years</td></tr> <tr id="xdx_41D_20260828__20260828__oef--ClassAxis__custom--C000210425Member_zpjfeIeJdXQg" style="vertical-align: top"> <td style="text-align: justify">Institutional Class</td> <td style="text-align: center">$46</td> <td style="text-align: center">$264</td> <td style="text-align: center">$499</td> <td style="text-align: center">$1,175</td></tr> </table> 46 264 499 1175 Principal Investment Strategies: In pursuing its investment objective, the Fund will operate as a “government money market fund,” as such term is defined in or interpreted under Rule 2a-7 under the Investment Company Act of 1940, as amended (the “1940 Act”). Government money market funds are required to invest at least 99.5% of their total assets in: (i) cash; (ii) securities issued or guaranteed by the United States or certain U.S. government agencies or instrumentalities; and/or (iii) repurchase agreements that are fully collateralized (i.e., backed by cash or government securities). Government money market funds are exempt from requirements to impose liquidity fees and/or temporary redemption gates, however, government money market funds may elect to impose these fees. The Fund has elected to not impose liquidity fees or redemption gates at this time. As a government money market fund, the Fund values its securities using the amortized cost method. The Fund seeks to maintain a stable net asset value (“NAV”) of $1.00 per share. Under normal circumstances, the Fund will invest at least 80% of its assets (net assets plus the amount of any borrowing for investment purposes) in securities issued or guaranteed by the U.S. Treasury and/or repurchase agreements that are fully collateralized by securities issued or guaranteed by the U.S. Treasury. The Fund will notify shareholders at least 60 days in advance of any change in this investment policy. Under normal circumstances, the Fund will invest at least 80% of its assets (net assets plus the amount of any borrowing for investment purposes) in securities issued or guaranteed by the U.S. Treasury and/or repurchase agreements that are fully collateralized by securities issued or guaranteed by the U.S. Treasury. You could lose money by investing in the Fund. An investment in the Fund is not a bank deposit and is not insured or guaranteed by the Federal Deposit Insurance Corporation or any other government agency. Stable NAV Risk. The Fund may not be able to maintain a stable $1.00 share price at all times. If any money market fund that intends to maintain a stable NAV fails to do so (or if there is a perceived threat of such a failure), other such money market funds, including the Fund, could be subject to increased redemption activity, which could adversely affect the Fund’s NAV. Interest Rate Risk. Increases in interest rates adversely affects the Fund’s yield relative to prevailing market rates and the market value of its securities or instruments. Fluctuations in interest rates may also affect the liquidity of fixed income securities and instruments held by the Fund. Market Risk. Overall market risks may affect the value of the Fund. Securities in the Fund’s portfolio may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters, pandemics, climate change and climate related events, epidemics, terrorism, regulatory events and governmental or quasi-governmental actions. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets. Management Risk. The Fund is subject to the risk that the Adviser’s investment management strategy may cause the Fund to underperform the market or its relevant benchmark or adversely affect the ability of the Fund to achieve its investment objective. The Adviser had not previously managed a mutual fund before launching the fund in 2019. Credit Risk. An issuer or guarantor of a security held by the Fund, or a bank or other financial institution that has entered into a repurchase agreement with the Fund, may default on its obligation to pay interest and repay principal or default on any other obligation. Additionally, the credit quality of securities may deteriorate rapidly, which may impair the Fund’s liquidity and cause significant deterioration in NAV. <p id="xdx_A88_eoef--RiskTextBlock_hoef--RiskAxis__custom--RepurchaseAgreementsRiskMember_z9LT2ovmMwC" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">Repurchase Agreements Risk. Repurchase agreements are transactions in which the Fund buys a security from a dealer or bank and agrees to sell the security back at a mutually agreed upon time and price. Repurchase agreements are subject to market risk with respect to the collateral securing the repurchase agreements and credit risk with respect to the counterparty. In the event of a bankruptcy or other default by the counterparty, the Fund could experience delays and potential losses in liquidating the underlying security. <p id="xdx_A82_eoef--RiskTextBlock_hoef--RiskAxis__custom--UsGovernmentSecuritiesRiskMember_zGhfcvxM9104" style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify; text-indent: 0.5in">U.S. Government Securities Risk. The U.S. government may not provide financial support to U.S. government agencies, instrumentalities or sponsored enterprises if it is not obligated to do so by law. Certain U.S. Government securities are neither issued nor guaranteed by the U.S. Treasury and, therefore, are not backed by the full faith and credit of the United States. To the extent the Fund invests in securities that are not U.S. Treasuries or repurchase agreements that are not collateralized by U.S. Treasuries, it may be subject to the foregoing risks. Additionally, the U.S. government and its agencies and instrumentalities do not guarantee the market values of their securities, which may fluctuate. Performance: The following bar chart and table provide some indication of the potential risks of investing in the Fund. The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The bar chart shows you the variability of the Fund’s returns from year to year. The table illustrates the Fund’s average annual total returns over the time periods indicated. Updated performance information will be available at no cost by visiting www.northcapital.com/northcapitalfunds or by calling 833-2-NCFUND or 833-262-3863. The Fund’s past performance is not necessarily an indication of how the Fund will perform in the future. The bar chart shows you the variability of the Fund’s returns from year to year. The table illustrates the Fund’s average annual total returns over the time periods indicated. www.northcapital.com/northcapitalfunds 833-262-3863 Annual Returns for Year Ended December 31 <table cellpadding="0" cellspacing="0" id="xdx_A53_zreHmroNAifc" style="font: 10pt Times New Roman, Times, Serif; display: none; border-collapse: collapse; width: 100%; visibility: hidden" summary="xdx: Disclosure - Annual Total Returns"> <tr style="visibility: hidden; display: none; vertical-align: bottom; text-align: center"> <th style="visibility: hidden; display: none">Years</th> <th style="visibility: hidden; display: none">Returns</th></tr> <tr style="visibility: hidden; display: none; vertical-align: top; text-align: left"> <td style="visibility: hidden; display: none">2020</td> <td id="xdx_981_eoef--AnnlRtrPct_dp_c20200101__20201231__oef--ClassAxis__custom--C000210425Member_zSRnlxNGBJsd" style="visibility: hidden; display: none">0.37%</td></tr> <tr style="visibility: hidden; display: none; vertical-align: top; text-align: left"> <td style="visibility: hidden; display: none; width: 50%">2021</td> <td id="xdx_982_eoef--AnnlRtrPct_dp_c20210101__20211231__oef--ClassAxis__custom--C000210425Member_ziznM2hix5E5" style="visibility: hidden; display: none; width: 50%">0.04%</td></tr> <tr style="visibility: hidden; display: none; vertical-align: top; text-align: left"> <td style="visibility: hidden; display: none">2022</td> <td id="xdx_98E_eoef--AnnlRtrPct_dp_c20220101__20221231__oef--ClassAxis__custom--C000210425Member_z9upX2yFHIPh" style="visibility: hidden; display: none">1.56%</td></tr> <tr style="visibility: hidden; display: none; vertical-align: top; text-align: left"> <td style="visibility: hidden; display: none">2023</td> <td id="xdx_988_eoef--AnnlRtrPct_dp_c20230101__20231231__oef--ClassAxis__custom--C000210425Member_zpxcxHWiVHx4" style="visibility: hidden; display: none">5.10%</td></tr> <tr style="visibility: hidden; display: none; vertical-align: top; text-align: left"> <td style="visibility: hidden; display: none">2024</td> <td id="xdx_986_eoef--AnnlRtrPct_dp_c20240101__20241231__oef--ClassAxis__custom--C000210425Member_zHTA3PMwsxo9" style="visibility: hidden; display: none">5.33%</td></tr> <tr style="visibility: hidden; display: none; vertical-align: top; text-align: left"> <td style="visibility: hidden; display: none">2025</td> <td id="xdx_98F_eoef--AnnlRtrPct_dp_c20250101__20251231__oef--ClassAxis__custom--C000210425Member_zipEyzPGKged" style="visibility: hidden; display: none">4.31%</td></tr> </table> <img alt="" src="ncgxx-chart.jpg"/> 0.0037 0.0004 0.0156 0.0510 0.0533 0.0431 <div id="xdx_A88_eoef--BarChartClosingTextBlock_zNL7mwvof1Jl"></div> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse"> <tr> <td style="border: black 1pt solid; vertical-align: bottom; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Best Quarter</td> <td style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 50%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1.37% (Quarter Ended December 31, 2023)</td></tr> <tr> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Worst Quarter</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.00% (Quarter Ended June 30, 2021)</td></tr> <tr> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Year to Date Return as of: June 30, 2026</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1.84%</td></tr> <tr> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; vertical-align: top; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">7-Day Yield on December 31, 2025</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">3.85%</td></tr> </table> Best Quarter 0.0137 2023-12-31 Worst Quarter 0.0000 2021-06-30 Year to Date Return 2026-06-30 0.0184 7-Day Yield on December 31, 2025 0.0385 Average Annual Total Returns (For Periods Ended December 31, 2025) <div id="xdx_A8F_eoef--PerformanceTableTextBlock_zGXkNT3PNoBe"></div> <table cellpadding="0" cellspacing="0" id="xdx_A52_dU_z9wsX457v4E6" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: top"> <td style="border: black 1pt solid; width: 68%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td id="xdx_49B_20250101__20251231_zilowvErtZTl" style="border-top: black 1pt solid; border-right: black 1pt solid; border-bottom: black 1pt solid; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1 Year</td> <td id="xdx_490_20210101__20251231_zMZszNV4f4Rj" style="border-top: black 1pt solid; border-bottom: black 1pt solid; width: 8%; text-align: center">5 Year </td> <td id="xdx_49C_20190717__20251231_zpbt2GXmvwx2" style="border: black 1pt solid; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Since Inception*</td></tr> <tr id="xdx_40C_eoef--AvgAnnlRtrPct_dp_hoef--ClassAxis__custom--C000210425Member_ziPhCahiivFj" style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">North Capital Treasury Money Market Fund (Institutional Class Shares)</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.31%</td> <td style="border-bottom: black 1pt solid; text-align: center">3.25%</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">2.67%</td></tr> <tr id="xdx_400_eoef--AvgAnnlRtrPct_dp_hoef--PerformanceMeasureAxis__custom--ThreemonthTreasuryBillinSecondaryMarketTransactionsMember_z6WNcbXtIRw8" style="vertical-align: top"> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt">3-month Treasury Bill in Secondary Market Transactions**</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">4.26%</td> <td style="border-bottom: black 1pt solid; text-align: center">3.37%</td> <td style="border-right: black 1pt solid; border-bottom: black 1pt solid; border-left: black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">2.79%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%"> <tr style="vertical-align: top"> <td style="width: 2%">*</td> <td style="width: 98%">The Fund’s Institutional Class Shares commenced operations on July 17, 2019.</td></tr> <tr style="vertical-align: top"> <td>**</td> <td>Data provided by the Federal Reserve Bank of St. Louis.</td></tr> </table> 0.0431 0.0325 0.0267 0.0426 0.0337 0.0279 2019-07-17 North Capital, Inc., the Fund’s investment adviser (the “Adviser”) has contractually agreed to waive its fees and reimburse expenses of the Fund to ensure that Total Annual Fund Operating Expenses After Fee Waiver and Reimbursement (exclusive of (i) any front-end or contingent deferred loads; (ii) brokerage fees and commissions; (iii) unaffiliated acquired fund fees and expenses; (iv) fees and expenses associated with investments in other collective investment vehicles or derivative instruments (including for example option and swap fees and expenses); (v) borrowing costs (such as interest and dividend expense on securities sold short) (vi) taxes; (vii) extraordinary expenses such as litigation expenses (which may include indemnification of Fund officers and Trustees, and contractual indemnification of Fund service providers, including the Adviser)) will not exceed (i) 0.45% of average daily net assets of Institutional Class shares until at least August 31, 2027 and (ii) 1.00% of average daily net assets of Institutional Class Shares until at least August 31, 2036. These fee waivers and expense reimbursements are subject to possible recoupment from the Fund within the three years after the fees have been waived or reimbursed, if there are waived amounts that have not been recouped outstanding and such recoupment, after giving effect to the recouped amounts, can be achieved within the lower of the foregoing expense limits and the expense limits in place at the time of recoupment. This agreement may be terminated only by the Board of Trustees (the “Board”) of North Capital Funds Trust (the “Trust”), of which the Fund is a series, on 60 days’ written notice to the Adviser. The total net operating expense ratio will not match the Fund’s financial statements because the financial statements reflect the application of the Adviser’s voluntary expense limitation agreement. The Fund’s Institutional Class Shares commenced operations on July 17, 2019. Data provided by the Federal Reserve Bank of St. Louis.