0001281790 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:CashAndCashEquivalentsRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:CommonStockRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:ManagementRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:MarketAndGeopoliticalRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:PortfolioTurnoverRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:SectorRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:ConsumerDefensiveSectorRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:ShareholderConcentrationRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:SmallcapAndMidcapRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:SpecialSituationRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:ValueInvestingRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:NameOfTrusteeDollarRangeOfSecuritiesInFundAggregateDollarRangeOfSecuritiesInTrustBrianJMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:ActivistInvestmentRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:AdrRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:CapitalStructureArbitrageRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:ChineseSecuritiesRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:CounterpartyRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:DebtInstrumentsRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:DistressedSecuritiesRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:ForeignSecuritiesRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:HighYieldRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member us-gaap:InterestRateRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:LiquidityRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:ManagementRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:MarketAndGeopoliticalRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:MergerArbitrageRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:PortfolioTurnoverRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:SectorRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:HealthcareSectorRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:ShareholderConcentrationRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:ShortSellingRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:StructuredNoteInvestmentRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:SpecialSituationsRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:C000093501Member 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:C000093502Member 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:C000200196Member 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member oef:RiskLoseMoneyMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member oef:RiskLoseMoneyMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:DeriviativeInstrumentsRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000061828Member frnkx:InitialPublicOfferingRiskMember 2026-11-01 2026-11-01 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2016-01-01 2016-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2017-01-01 2017-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2018-01-01 2018-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2019-01-01 2019-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2020-01-01 2020-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2021-01-01 2021-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2022-01-01 2022-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2023-01-01 2023-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2024-01-01 2024-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2016-01-01 2016-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2017-01-01 2017-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2018-01-01 2018-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2019-01-01 2019-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2020-01-01 2020-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2021-01-01 2021-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2022-01-01 2022-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2023-01-01 2023-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2024-01-01 2024-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member frnkx:Russell3000Member 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member frnkx:Russell3000Member 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member frnkx:Russell3000Member 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member frnkx:RussellMidCapMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member frnkx:RussellMidCapMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000012947Member frnkx:RussellMidCapMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member frnkx:Russell3000Member 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member frnkx:Russell3000Member 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member frnkx:Russell3000Member 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member frnkx:RussellMidCapMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member frnkx:RussellMidCapMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093501Member frnkx:RussellMidCapMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member frnkx:Russell3000Member 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member frnkx:Russell3000Member 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member frnkx:Russell3000Member 2016-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member frnkx:RussellMidCapMember 2025-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member frnkx:RussellMidCapMember 2021-01-01 2025-12-31 0001281790 frnkx:S000004757Member frnkx:C000093502Member frnkx:RussellMidCapMember 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member frnkx:Russell3000Member 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member frnkx:Russell3000Member 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member frnkx:Russell3000Member 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member frnkx:HFRXIndexMember 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member frnkx:HFRXIndexMember 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200195Member frnkx:HFRXIndexMember 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member oef:AfterTaxesOnDistributionsMember 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member oef:AfterTaxesOnDistributionsMember 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member oef:AfterTaxesOnDistributionsMember 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member oef:AfterTaxesOnDistributionsAndSalesMember 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member oef:AfterTaxesOnDistributionsAndSalesMember 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member oef:AfterTaxesOnDistributionsAndSalesMember 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member frnkx:Russell3000Member 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member frnkx:Russell3000Member 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member frnkx:Russell3000Member 2016-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member frnkx:HFRXIndexMember 2025-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member frnkx:HFRXIndexMember 2021-01-01 2025-12-31 0001281790 frnkx:S000061828Member frnkx:C000200196Member frnkx:HFRXIndexMember 2016-01-01 2025-12-31 iso4217:USD pure false 2026-11-01 485BPOS N-1A Frank Funds 0001281790 2022-12-31 2022-06-30 2020-09-30 2020-03-31 Investment Objective. The Frank Value Fund’s (the “Fund”) investment objective is to provide long-term capital appreciation. Fees and Expenses. This table describes fees and expenses that you may pay if you buy, hold and sell the Fund’s shares. You may be required to pay commission and/or other forms of compensation to a broker for transactions in Institutional Class shares, which are not reflected in the tables or the examples below. Shareholder Fees (fees paid directly from your investment) <div id="xdx_A88_eoef--ShareholderFeesTableTextBlock_zTyYo6Sbj2M3"></div> <table cellpadding="0" cellspacing="0" id="xdx_A58_dU_zjH4qnYnv2i1" style="border: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: bottom; background-color: #D9D9D9"> <td style="border: Black 1pt solid; padding: 0.75pt; width: 61%"> </td> <td id="xdx_49F_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zfjGNTOamtIb" style="border: Black 1pt solid; padding: 0.75pt; width: 12%; text-align: center">Investor Class</td> <td id="xdx_49F_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member_znDB8s2b8YDj" style="border: Black 1pt solid; padding: 0.75pt; width: 12%; text-align: center">Class C</td> <td id="xdx_493_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member_zFujP4lewjg" style="border: Black 1pt solid; padding: 0.75pt; width: 15%; text-align: center">Institutional Class</td></tr> <tr id="xdx_40F_eoef--RedemptionFeeOverRedemption_iN_dpin_zD20Z1I13ZUf"> <td style="border: Black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 9pt">Redemption Fee (as a percentage of amount redeemed on shares held less than 5 business days) </td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center; text-indent: 1.5pt">2.00%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center; text-indent: 1.5pt">2.00%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center; text-indent: 1.5pt">2.00%</td></tr> </table> -0.0200 -0.0200 -0.0200 Annual Fund Operating Expenses (expenses that you pay each year as a percentage of the value of your investment) <div id="xdx_A8E_eoef--AnnualFundOperatingExpensesTableTextBlock_zJkuWLXssdx6"></div> <table cellpadding="0" cellspacing="0" id="xdx_A57_dU_zOgmLyx8QC2d" style="border: Black 1pt solid; font: 12pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: bottom; background-color: #D9D9D9"> <td style="border: Black 1pt solid; padding: 0.75pt; width: 61%"> </td> <td id="xdx_496_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zaccl7jbPKe4" style="border: Black 1pt solid; padding: 0.75pt; width: 12%; text-align: center">Investor Class</td> <td id="xdx_49D_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member_zmutlhHCn6y2" style="border: Black 1pt solid; padding: 0.75pt; width: 12%; text-align: center">Class C</td> <td id="xdx_495_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member_zPddF1j41rA7" style="border: Black 1pt solid; padding: 0.75pt; width: 15%; text-align: center">Institutional Class</td></tr> <tr id="xdx_407_eoef--ManagementFeesOverAssets_dpn_zVRVGguvndm7" style="vertical-align: bottom"> <td style="border: Black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 9pt">Management Fees 1</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.89%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.89%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.89%</td></tr> <tr id="xdx_405_eoef--DistributionAndService12b1FeesOverAssets_dpn_zZkukFfn6DY2" style="vertical-align: bottom"> <td style="border: Black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 9pt">Distribution and/or Service (12b-1) Fees</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.25%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">1.00%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.00%</td></tr> <tr id="xdx_40C_eoef--OtherExpensesOverAssets_dpn_z0u0rzqn0eE2" style="vertical-align: bottom"> <td style="border: Black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 9pt">Other Expenses 1</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.09%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.09%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.09%</td></tr> <tr id="xdx_404_eoef--AcquiredFundFeesAndExpensesOverAssets_dpn_zHBJkontPe4h" style="vertical-align: bottom"> <td style="border: Black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 9pt">Acquired Fund Fees and Expenses 2</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.01%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.01%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.01%</td></tr> <tr id="xdx_400_eoef--NetExpensesOverAssets_dpn_zIq3hru0zQe5" style="vertical-align: bottom"> <td style="border: Black 1pt solid; padding: 0.75pt 0.75pt 0.75pt 9pt">Total Annual Fund Operating Expenses</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">1.24%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">1.99%</td> <td style="border: Black 1pt solid; padding: 0.75pt; text-align: center">0.99%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in">(1)</td><td>Restated to reflect the reduced management fee.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.25in">(2)</td><td>Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund.</td></tr></table> 0.0089 0.0089 0.0089 0.0025 0.0100 0.0000 0.0009 0.0009 0.0009 0.0001 0.0001 0.0001 0.0124 0.0199 0.0099 Example: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A85_eoef--ExpenseExampleWithRedemptionTableTextBlock_zkqAIbNccjxk"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_zkvHGhuXNVRi" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top"> <td style="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td id="xdx_483_eoef--ExpenseExampleYear01_zHpt3LDpRVP1" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1 Year</td> <td id="xdx_486_eoef--ExpenseExampleYear03_z30Q59EUis4l" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">3 Years</td> <td id="xdx_483_eoef--ExpenseExampleYear05_zKGyn7BMTmR2" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">5 Years</td> <td id="xdx_489_eoef--ExpenseExampleYear10_zoahoCxq0Th9" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">10 Years</td></tr> <tr id="xdx_412_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zeNnFiVIJn7" style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Investor Class</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$126</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$393</td> <td style="padding-right: 22.65pt; padding-left: 5.4pt; text-align: justify">$681</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$1,500</td></tr> <tr id="xdx_417_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member_zNpgsIvihoAk" style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Class C</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$202</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$624</td> <td style="padding-right: 22.65pt; padding-left: 5.4pt; text-align: justify">$1,073</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$2,317</td></tr> <tr id="xdx_413_20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member_zfjncSsiq9Sb" style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Institutional Class</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$101</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$315</td> <td style="padding-right: 22.65pt; padding-left: 5.4pt; text-align: justify">$547</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$1,213</td></tr> </table> 126 393 681 1500 202 624 1073 2317 101 315 547 1213 Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund's portfolio turnover rate was 95.89% of the average value of its portfolio. 0.9589 Principal Investment Strategies. The Fund’s principal investment strategy is value investing. The Fund invests in common stock of U.S. companies that the Fund’s adviser, Frank Capital Partners LLC (the “Adviser”), believes are underpriced based on the company’s intrinsic value. The Adviser defines intrinsic value as the price an intelligent and informed business owner would pay for the enterprise, and is independent from the current selling price in the stock markets. The Adviser uses quantitative analysis to identify undervalued companies, examining such traditional value criteria as: <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">price-to-earnings, price-to-book value and price-to-cash flow ratios;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">the discounted value of future cash flows;</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">acquisition values of similar companies; and</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0.75in"></td><td style="width: 0.25in">·</td><td style="text-align: justify">the value stockholders would receive if the company was liquidated.</td></tr></table> The Adviser then performs subjective analysis, including the review of trade magazines, annual reports, and regulatory filings. The Adviser considers the future growth potential of the company, its products and services, its industry position, and the quality of its management before making a final determination of the company’s intrinsic value. The Fund invests in common stocks of companies that have strong financial positions, evidenced by balance sheets without significant debt or other liabilities compared to cash reserves. The Adviser believes financial markets place undue emphasis on a company’s income, often ignoring the balance sheet. Therefore, companies with strong balance sheets may have significantly discounted market prices. The Fund may invest in companies regardless of size, including small- and micro-cap companies. The Adviser sells common stocks when the market price exceeds its estimate of intrinsic value. From time to time the Fund may be invested more heavily in a particular sector if the Adviser determines that companies in that sector present the best value. The Adviser may invest in “special situation” companies, including spin-offs and companies recently emerging from bankruptcy. The Fund may hold a significant portion of its assets in cash and cash equivalents if sufficient value opportunities are not present in the market. Principal Investment Risks As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (FDIC) or any other government agency. The risks associated with an investment in the Fund can increase during times of significant market volatility, and there can be no assurance that the Fund will achieve its investment objective. The principal risks of investing in the Fund are: loss of money is a risk of investing <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--CashAndCashEquivalentsRiskMember_zN0BHKCyDBbh" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Cash and Cash Equivalents Risk: At any time, the Fund may have significant investments in cash or cash equivalents. When a substantial portion of a portfolio is held in cash or cash equivalents, there is the risk that the value of the cash account, including interest, will not keep pace with inflation, thus reducing purchasing power over time. Common Stock Risk: The Fund invests the majority of its assets in common stocks. Historically, common stocks are more volatile than other securities such as bonds. The common stock of a company that experiences financial distress may lose significant value or become worthless. The rights of common stockholders are subordinate to all other claims on a company’s assets including debt holders and preferred stockholders; therefore, the Fund could lose money if a company in which it invests becomes financially distressed. Management Risk: A risk of investing in the Fund is that the Adviser’s strategy of investing in undervalued securities may fail. The Adviser may be incorrect in its assessment of the intrinsic value of the companies in which the Fund invests, or value stocks may be out of favor with investors. <p id="xdx_A8D_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_zgNrejo6cACg" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Market and Geopolitical Risk: The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market. Securities in the Fund’s portfolio may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters, climate-change and climate-related events, pandemics, epidemics, terrorism, international conflicts, regulatory events, tariffs and trade wars and governmental or quasi-governmental actions. The occurrence of global events similar to those in recent years, such as terrorist attacks around the world, natural disasters, pandemics, social and political discord or debt crises and downgrades, among others, may result in market volatility and may have long term effects on both the U.S. and global financial markets. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have and the duration of those effects. Any such event(s) could have a significant adverse impact on the value and risk profile of the Fund’s portfolio. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--PortfolioTurnoverRiskMember_z6SoRI7XjFm" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Portfolio Turnover Risk: A higher portfolio turnover results in higher transactional and brokerage costs. Sector Risk. If the Fund’s portfolio is overweighted in a certain sector, any negative development affecting that sector will have a greater impact on the Fund than it would have on a fund that is not overweighted in that sector. The Fund may from time to time have a greater focus in certain sectors, and weakness in those sectors could result in significant losses to the Fund. Consumer Defensive Sector Risk. Companies in the consumer defensive sector face risks related to fluctuating consumer demand, private-label competition, supply chain disruptions, raw material and labor cost inflation, and evolving regulatory requirements. Although demand for essential goods is generally more stable than in other sectors, changing consumer preferences, increased emphasis on sustainability, and heightened price sensitivity may pressure margins and market share. In addition, adverse economic conditions, trade restrictions, and geopolitical events can disrupt operations, sourcing, and distribution. Any of these factors could materially and adversely affect the business, financial condition, and results of operations. <p id="xdx_A85_eoef--RiskTextBlock_hoef--RiskAxis__custom--ShareholderConcentrationRiskMember_zLLiUNJMfy3" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Shareholder Concentration Risk. When a small number of shareholders account for a disproportionate share of the Fund’s assets, the Fund could be vulnerable to a very large redemption request from a significant shareholder who wants to redeem. Such redemption may increase the expense ratio of the Fund. The decision-making process may also be controlled by a limited number of shareholders which may be biased in favor of said small group. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--SmallcapAndMidcapRiskMember_zZeAGCwQr4I7" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Small-Cap and Mid-Cap Risk: Because the Fund may invest in smaller and mid-capitalization companies, the Fund will be subject to additional risks. The earnings and prospects of such companies are more volatile than larger companies, and they may experience higher failure rates than larger companies. The trading volume of securities of smaller companies is normally less than that of larger companies and, therefore, may disproportionately affect their market price, tending to make them fall more in response to selling pressure than is the case with larger companies. Smaller and mid-capitalization companies may also have limited markets, product lines, or financial resources and may lack management experience. <p id="xdx_A83_eoef--RiskTextBlock_hoef--RiskAxis__custom--SpecialSituationRiskMember_zvIHxTYhP6bl" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Special Situation Risk: The Fund may invest a significant portion of assets in special situations, such as spin-offs, companies recently emerging from bankruptcy, and merger securities. Spin-off companies may encounter difficulties because they are operating on their own for the first time, without the protection of their parent company. Spin-offs also may be created for the purpose of moving liabilities from the parent company to the spin-off. These potential problems may impair operating results, leading to losses to the Fund. Additionally, there is a possibility that the spin-off company may incur the business risk of the parent. Companies that have recently emerged from bankruptcy may still have the problems that caused the initial bankruptcy filing, leading to poor operating results or possibly another bankruptcy filing. These companies also may have weak financial positions. Merger securities may encounter complications arising from the expected transaction. Finally, the Adviser may incorrectly evaluate any of these special situation stocks, resulting in losses to the Fund. <p id="xdx_A80_eoef--RiskTextBlock_hoef--RiskAxis__custom--ValueInvestingRiskMember_zkzbMBUNqIO3" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0.5in">Value Investing Risk: Value stocks may remain undervalued during a given time period and may not ever realize their full value. Performance The bar chart and performance table below show the variability of the returns of the Fund’s Investor Class shares, which is some indication of the risks of investing in the Fund. The bar chart shows performance of the Fund’s Investor Class shares for each of the last 10 calendar years. The performance table compares the performance of the Fund's Investor Class, Class C, and Institutional Class shares over time to the performance of a broad-based securities market index and a supplemental index. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future. Updated performance information is available on the Fund’s website at www.frankfunds.com. The Fund’s past performance (before and after taxes) is not necessarily an indication of how the Fund will perform in the future www.frankfunds.com TOTAL RETURNS FOR INVESTOR CLASS SHARES (for the years ended December 31) The Fund's Investor Class year-to-date return through September 30, 2026 was 11.02%. <div id="xdx_A82_eoef--BarChartClosingTextBlock_zZUGuH7HdAj8"></div> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 70%; border-collapse: collapse"> <tr style="vertical-align: top"> <td id="xdx_983_eoef--HighestQuarterlyReturnLabel_c20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member_zt8utFISUkp3" style="border: Black 1pt solid; width: 39%; padding-top: 6pt; padding-bottom: 6pt; text-align: center">Best Quarter:</td> <td id="xdx_98D_eoef--BarChartHighestQuarterlyReturnDate_dxL_c20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member_za4MVjwyLVac" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 36%; padding-top: 6pt; padding-bottom: 6pt; text-align: center" title="::XDX::2022-12-31">4th quarter 2022</td> <td id="xdx_989_eoef--BarChartHighestQuarterlyReturn_c20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member_zcMmEcOeFEm8" style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 25%; padding-top: 6pt; padding-bottom: 6pt; text-align: center">13.43%</td></tr> <tr style="vertical-align: top"> <td id="xdx_986_eoef--LowestQuarterlyReturnLabel_c20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member_zrgBT5y0Rpo7" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: center">Worst Quarter:</td> <td id="xdx_984_eoef--BarChartLowestQuarterlyReturnDate_dxL_c20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member_zRaDMNjgkjIk" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: center" title="::XDX::2022-06-30">2nd quarter 2022</td> <td id="xdx_987_eoef--BarChartLowestQuarterlyReturn_c20261101__20261101__dei--LegalEntityAxis__custom--S000004757Member_zFkfnov3KC3j" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 6pt; padding-bottom: 6pt; text-align: center">-9.73%</td></tr> </table> Best Quarter: 0.1343 Worst Quarter: -0.0973 In the performance table below, after-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor's tax situation and may differ from those shown. After-tax returns shown in the table are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. after-tax returns are calculated using the historical highest individual federal marginal income tax rates After-tax returns shown in the table are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts <div id="xdx_A86_eoef--BarChartTableTextBlock_zVwFIuWMxOUe"></div> <table cellpadding="0" cellspacing="0" id="xdx_A52_dU_zrufMoDRJzr3" style="font: 12pt Times New Roman, Times, Serif; display: none; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Total Returns"> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; width: 62%; padding-right: 5.4pt; padding-left: 5.4pt">Year</td> <td style="white-space: nowrap; width: 38%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">Percentage</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2016</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_c20160101__20161231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zPuf9V9oBL81" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0356</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2017</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_c20170101__20171231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zMkVU15R2Ek5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">-0.0281</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2018</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_c20180101__20181231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zoiSzWyLRaWb" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">-0.0223</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2019</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_c20190101__20191231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zjwh9JtfWDSh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0415</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2020</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_c20200101__20201231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_z4wCnq0knQBe" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.1284</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2021</td> <td id="xdx_988_eoef--AvgAnnlRtrPct_c20210101__20211231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zw612vMnku27" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.064</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2022</td> <td id="xdx_983_eoef--AvgAnnlRtrPct_c20220101__20221231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zTYWsFB7pNu8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0418</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2023</td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_c20230101__20231231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zptDuRvArSr" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.1478</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2024</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_c20240101__20241231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zYnvwZAYH4r9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.1922</td></tr> <tr style="vertical-align: bottom"> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2025</td> <td id="xdx_989_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_zqN1c3xMVOmi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.1229</td></tr> </table> 0.0356 -0.0281 -0.0223 0.0415 0.1284 0.064 0.0418 0.1478 0.1922 0.1229 Average Annual Total Returns for the periods ended December 31, 2025: <div id="xdx_A83_eoef--PerformanceTableTextBlock_zaju0zW8uFf9"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5A_dU_zduSpn6sQ4Ya" style="font: 12pt 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: 52%; padding-right: 5.4pt; padding-left: 5.4pt">Investor Class</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1 year</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 16%; 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; border-bottom: Black 1pt solid; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">10 Years</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return Before Taxes</td> <td id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member_zBHRhIS2tKIc" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">12.04%</td> <td id="xdx_983_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_z44xu4N8uiMb" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">11.19%</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member_z8nIkagAV9Ik" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">6.99%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return After Taxes on Distributions</td> <td id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zzFOw2V3iLcc" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.97%</td> <td id="xdx_981_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zoQNLznN7Vm1" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.90%</td> <td id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zgbsL6A4iIzf" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">5.69%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return After Taxes on Distributions and Sale of Fund Shares</td> <td id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z8YXv7SX7jx5" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.94%</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zw0Twwffn3je" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.25%</td> <td id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zsbr7HMMqNx4" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">5.25%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Russell 3000 Index* (reflects no deduction for fees, expenses, or taxes)</td> <td id="xdx_986_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____z9nbEtdRkbR6" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">17.15%</td> <td id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____zSWgyWRD5321" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">13.15%</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____zIoMJ0ERA1dk" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">14.29%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">Russell Midcap Value Index** (reflects no deduction for fees, expenses, or taxes)</td> <td id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___z6Awr9jcF6A1" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">11.05%</td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___z4wmzpKmI1t7" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.83%</td> <td id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000012947Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___zbyJMDKyrZ7k" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.78%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">Class C</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">1 year</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">5 years</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">10 Years</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return Before Taxes</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member_zQ0X0TDLTDJl" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">11.18%</td> <td id="xdx_989_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member_zWvNYQ7Co962" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">10.35%</td> <td id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member_zqlROHm0qhcj" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">6.19%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return After Taxes on Distributions</td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zsIOJIbcHL28" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.17%</td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zyCvwGFrDx42" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.29%</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zk5MXHRSOtWe" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">5.01%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return After Taxes on Distributions and Sale of Fund Shares</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z8dnuztr3K3c" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.61%</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zT9cmdw2QHz5" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">7.75%</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zFT8XGQNRDQk" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">4.67%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Russell 3000 Index* (reflects no deduction for fees, expenses, or taxes)</td> <td id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____z9ILSSedj6Qa" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">17.15%</td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____zYdW2zvTiQG5" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">13.15%</td> <td id="xdx_986_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____zQHUwP2a0Xe6" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">14.29%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">Russell Midcap Value Index** (reflects no deduction for fees, expenses, or taxes)</td> <td id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___zyCwGAreegxi" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">11.05%</td> <td id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___zkyuy83pmd76" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.83%</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093501Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___ztLRd52dfKK7" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.78%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">Institutional Class</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">1 year</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">5 years</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">10 Years</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return Before Taxes</td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member_zuH8RHgIE4b6" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">12.29%</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member_zPVAe6OqbuFb" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">11.46%</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member_zWn7zwamFjhk" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">7.25%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return After Taxes on Distributions</td> <td id="xdx_988_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zB2v4N46iMn1" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.21%</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zStLwsaNt7b8" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.18%</td> <td id="xdx_984_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_zDiBK8k4XTl9" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">5.94%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Return After Taxes on Distributions and Sale of Fund Shares</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z9leh7E2O3ue" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.04%</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zZTjZifTkDhg" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">8.47%</td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zXVSjKZktoU5" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">5.45%</td></tr> <tr> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; vertical-align: top; padding-top: 2pt; padding-bottom: 2pt">Russell 3000 Index* (reflects no deduction for fees, expenses, or taxes)</td> <td id="xdx_98C_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____zEuBsk2ew1m3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">17.15%</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____zSVkQqn2qNJ7" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">13.15%</td> <td id="xdx_987_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKg_____z7ynqpqUGohe" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">14.29%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt">Russell Midcap Value Index** (reflects no deduction for fees, expenses, or taxes)</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_dp_c20250101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___zlJK3WzGXtWj" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">11.05%</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20210101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___z1p3fUuTnpF" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.83%</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_dp_c20160101__20251231__dei--LegalEntityAxis__custom--S000004757Member__oef--ClassAxis__custom--C000093502Member__oef--PerformanceMeasureAxis__custom--RussellMidCapMember_fKio___z9aL2c88M8ne" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-top: 2pt; padding-bottom: 2pt; text-align: center">9.78%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">*</td><td style="text-align: justify">The Russell 3000® Index is a capitalization-weighted stock market index, maintained by FTSE Russell, that seeks to be a benchmark of the entire U.S. stock market. It measures the performance of the 3,000 largest publicly held companies incorporated in America as measured by total market capitalization, and represents approximately 98% of the American public equity market. Investors cannot invest directly in an index or benchmark.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">**</td><td style="text-align: justify">The Russell Midcap Value Index measures performance of the mid-cap value segment of the U.S. equity universe. Investors may not invest in the index directly.</td></tr></table> 0.1204 0.1119 0.0699 0.0897 0.0890 0.0569 0.0894 0.0825 0.0525 0.1715 0.1315 0.1429 0.1105 0.0983 0.0978 0.1118 0.1035 0.0619 0.0817 0.0829 0.0501 0.0861 0.0775 0.0467 0.1715 0.1315 0.1429 0.1105 0.0983 0.0978 0.1229 0.1146 0.0725 0.0921 0.0918 0.0594 0.0904 0.0847 0.0545 0.1715 0.1315 0.1429 0.1105 0.0983 0.0978 Investment Objective. The Camelot Event-Driven Fund’s (the “Fund”) investment objective is to provide long-term growth of capital. Fees and Expenses. This table describes fees and expenses that you may pay if you buy, hold and sell Fund shares. You may qualify for sales charge discounts if you and your family invest, or agree to invest in the future, at least $100,000 in the Frank Funds (the “Trust”). More information about these and other discounts is available from your financial professional and in the “Reduction or Waiver of Front-End Sales Charges” section on page 23 of the Fund’s Prospectus. You may pay other fees, such as brokerage commissions and other fees to financial intermediaries, which are not reflected in the tables or the examples below. Shareholder Fees (fees paid directly from your investment) <div id="xdx_A82_eoef--ShareholderFeesTableTextBlock_zKvrMhecU6md"></div> <table cellpadding="0" cellspacing="0" id="xdx_A59_dU_znWrV9lZtEti" style="font: 12pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Shareholder Fees"> <tr style="vertical-align: top"> <td style="border-bottom: black 1.5pt solid; width: 46%"> </td> <td id="xdx_495_20261101__20261101__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_z2AUK49lKqQ1" style="border-bottom: black 1.5pt solid; width: 17%; text-align: right">Class A </td> <td style="border-bottom: black 1.5pt solid; width: 19%"> </td> <td id="xdx_494_20261101__20261101__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member_zLxw5yI7WDx5" style="border-bottom: black 1.5pt solid; width: 18%; text-align: right">Institutional Class </td></tr> <tr id="xdx_401_eoef--MaximumSalesChargeImposedOnPurchasesOverOfferingPrice_dpn_zR2T6S5WIUFa"> <td style="border-bottom: black 1.5pt solid; vertical-align: top"> Maximum Sales Charge (Load) Imposed on Purchases (as a percentage of the offering price)</td> <td style="border-bottom: black 1.5pt solid; text-align: right">2.50% </td> <td style="border-bottom: black 1.5pt solid"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">None </td></tr> <tr id="xdx_40A_eoef--MaximumDeferredSalesChargeOverOther_dpn_zJZUFR9Q8Yu3"> <td style="border-bottom: black 1.5pt solid; vertical-align: top">Maximum Deferred Sales Charge (Load) (as a percentage of the original purchase price)(1)</td> <td style="border-bottom: black 1.5pt solid; text-align: right">1.00%</td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">None</td></tr> <tr id="xdx_404_eoef--RedemptionFeeOverRedemption_iN_dpin_z3n4pyC6icy9"> <td style="border-bottom: black 1.5pt solid; vertical-align: top">Redemption Fee (as a percentage of amount redeemed on shares held less than 5 business days)</td> <td style="border-bottom: black 1.5pt solid; text-align: right">2.00%</td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">2.00%</td></tr> </table> 0.0250 0 0.0100 0 -0.0200 -0.0200 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_zpBXYhQfOSv9"></div> <table cellpadding="0" cellspacing="0" id="xdx_A5D_dU_z002TK8cl0K2" style="font: 12pt Times New Roman, Times, Serif; width: 100%" summary="xdx: Disclosure - Annual Fund Operating Expenses"> <tr style="vertical-align: top"> <td colspan="2" style="border-bottom: black 1.5pt solid"> </td> <td id="xdx_495_20261101__20261101__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zBNAo0tp9Dk9" style="border-bottom: black 1.5pt solid; text-align: right">Class A </td> <td style="border-bottom: black 1.5pt solid"> </td> <td id="xdx_494_20261101__20261101__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member_zzdv1ylE4Dob" style="border-bottom: black 1.5pt solid; text-align: right">Institutional Class </td></tr> <tr style="vertical-align: top"> <td colspan="5" style="border-bottom: black 1.5pt solid"> </td></tr> <tr id="xdx_405_eoef--ManagementFeesOverAssets_dpn_zkNDmrRO52i4" style="vertical-align: top"> <td style="border-bottom: black 1.5pt solid">Management Fees</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right">1.30% </td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">1.30% </td></tr> <tr id="xdx_40C_eoef--DistributionAndService12b1FeesOverAssets_dpn_zbMkjc0rPowf" style="vertical-align: top"> <td style="border-bottom: black 1.5pt solid">Distribution (12b-1) Fees</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right">0.25% </td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">None </td></tr> <tr id="xdx_408_eoef--OtherExpensesOverAssets_dpn_zwgjrVCGPHYh" style="vertical-align: top"> <td style="border-bottom: black 1.5pt solid">Total Other Expenses</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right">0.66%</td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">0.63%</td></tr> <tr id="xdx_405_eoef--Component1OtherExpensesOverAssets_dpn_zh0GLi8o9wLj" style="vertical-align: top"> <td style="border-bottom: black 1.5pt solid; padding-left: 27pt">Shareholder Servicing Fees</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right">0.09%</td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">0.09% </td></tr> <tr id="xdx_407_eoef--Component2OtherExpensesOverAssets_dpn_zFRjqnxH3Gq4" style="vertical-align: top"> <td style="border-bottom: black 1.5pt solid; padding-left: 27pt">Dividends on Short Positions</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right">0.00% </td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">0.00% </td></tr> <tr id="xdx_405_eoef--Component3OtherExpensesOverAssets_dpn_zTFppx2UVnv9" style="vertical-align: top"> <td style="border-bottom: black 1.5pt solid; padding-left: 27pt">Remaining Other Expenses (2)</td> <td colspan="2" style="border-bottom: black 1.5pt solid; text-align: right">0.57%</td> <td style="border-bottom: black 1.5pt solid; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; text-align: right">0.54%</td></tr> <tr id="xdx_40B_eoef--ExpensesOverAssets_dpn_znBZQalGgof6"> <td style="border-bottom: black 1.5pt solid; vertical-align: top">Total Annual Fund Operating Expenses</td> <td colspan="2" style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right">2.21% </td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right">1.93% </td></tr> <tr id="xdx_40C_eoef--FeeWaiverOrReimbursementOverAssets_dpn_zge8Mivz5nd2"> <td style="border-bottom: black 1.5pt solid; vertical-align: top">Fee Waiver and/or Expense Reimbursement (3)</td> <td colspan="2" style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right">0.09% </td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right">0.06% </td></tr> <tr id="xdx_40A_eoef--NetExpensesOverAssets_dpn_zSwikRNdsBld"> <td style="border-bottom: black 1.5pt solid; vertical-align: top">Total Annual Fund Operating Expenses After Fee Waiver and/or Expense Reimbursement</td> <td colspan="2" style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right">1.99% </td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right"> </td> <td style="border-bottom: black 1.5pt solid; vertical-align: bottom; text-align: right">1.74% </td></tr> <tr> <td style="width: 43%"> </td> <td style="width: 3%"> </td> <td style="width: 17%"> </td> <td style="width: 19%"> </td> <td style="width: 18%"> </td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(1)</td><td style="text-align: justify">The 1.00% maximum deferred sales charge may be assessed in the case of investments at or above the $250,000 breakpoint (where you do not pay an initial sales charge) on shares redeemed within 18 months of purchase.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(2)</td><td style="text-align: justify">“Other Expenses” includes litigation expenses of 0.13%, which are excluded from the fee waiver, as discussed below.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">(3)</td><td style="text-align: justify">Camelot Event-Driven Advisors, LLC (the “Adviser”), has contractually agreed to waive its management fees and/or assume expenses to the extent necessary to reduce the Total Annual Fund Operating Expenses (exclusive of any front-end or contingent deferred loads, taxes, all interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, underlying fund fees, 12b-1 fees and expenses, and extraordinary expenses such as litigation) when they exceed 1.74% of the Fund’s average daily net assets (the “Annualized Expense Ratio”). This agreement will continue in effect until October 31, 2027. Any waivers and reimbursements made by the Adviser to the Fund are subject to recoupment by the Adviser within three (3) fiscal years following the date of such waiver or reimbursement, provided that such recoupment does not cause the Total Annual Fund Operating Expenses to exceed the Annualized Expense Ratio in effect at the time of the (i) fee waiver and/or expense assumption, or (ii) the fee recoupment. This agreement shall be terminated upon the termination of the advisory agreement or, with respect to the Fund, in the event of its merger or liquidation.</td></tr></table> 0.0130 0.0130 0.0025 0 0.0066 0.0063 0.0009 0.0009 0.0000 0.0000 0.0057 0.0054 0.0221 0.0193 0.0009 0.0006 0.0199 0.0174 Example: This example is intended to help you compare the cost of investing in the Fund with the cost of investing in other mutual funds. The example assumes that you invest $10,000 in the Fund for the time periods indicated and then redeem all of your shares at the end of those periods. The example also assumes that your investment has a 5% return each year and that the Fund’s operating expenses remain the same. Although your actual costs may be higher or lower, based on these assumptions your costs would be: <div id="xdx_A89_eoef--ExpenseExampleWithRedemptionTableTextBlock_zJiVZQYYB5wf"></div> <table cellpadding="0" cellspacing="0" id="xdx_A50_dU_zVB9MMFQHDAd" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Expense Example"> <tr style="vertical-align: top"> <td style="width: 28%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify"> </td> <td id="xdx_48C_eoef--ExpenseExampleYear01_znGgdnwV3835" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">1 Year</td> <td id="xdx_482_eoef--ExpenseExampleYear03_zDGnnMoa0yM3" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">3 Years</td> <td id="xdx_48F_eoef--ExpenseExampleYear05_zumeb9146TFa" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">5 Years</td> <td id="xdx_48E_eoef--ExpenseExampleYear10_ztWwpJdTp9D8" style="width: 18%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">10 Years</td></tr> <tr id="xdx_41A_20261101__20261101__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zuGaINu85GZg" style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Class A</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$202</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$624</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$1,073</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$2,317</td></tr> <tr id="xdx_41D_20261101__20261101__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member_zUgVTijWSnB" style="vertical-align: top"> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">Institutional Class</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$177</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$548</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$944</td> <td style="padding-right: 5.4pt; padding-left: 5.4pt; text-align: justify">$2,052</td></tr> </table> 202 624 1073 2317 177 548 944 2052 Portfolio Turnover. The Fund pays transaction costs, such as commissions, when it buys and sells securities (or "turns over" its portfolio). A higher portfolio turnover may indicate higher transaction costs and may result in higher taxes when Fund shares are held in a taxable account. These costs, which are not reflected in annual fund operating expenses or in the Example, affect the Fund's performance. During the most recent fiscal year, the Fund’s portfolio turnover rate was 53.18% of the average value of its portfolio. 0.5318 Principal Investment Strategies. To achieve the Fund’s investment objective, the Adviser invests in the securities of publicly traded companies involved in mergers, takeovers, tender offers, leveraged buyouts, spin-offs, liquidations, or similar events (“corporate reorganizations”). A variety of strategies can be employed to capitalize on the mispricing of corporate securities during corporate reorganizations, including transactions involving common and preferred stock, debt instruments and derivative securities. In addition, the Fund may invest in a variety of debt instruments, including U.S. Government securities and structured notes. <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Merger Arbitrage. The Fund invests in the securities of companies subject to publicly announced corporate reorganizations.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Capital Structure Arbitrage. A variety of strategies can be employed to capitalize on the mispricing of corporate securities during reorganizations, including transactions involving common and preferred stock, debt instruments and derivative securities. Many companies issue different types of securities in addition to equity securities, and sometimes issue different types of equity securities. Capital structure arbitrage involves investing in two different types of securities issued by the same company if they are believed to be mispriced relative to each other. The securities typically differ in their voting rights, dividend or interest rates and rights, liquidation preference, liquidity in the financial markets, seniority or other factors. Typically, one of these securities is purchased, while the other is sold short. The profit or loss realized by the Fund will depend on the relative price performance of the two securities as well as their relative dividend rates.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Distressed Securities Investments. The Fund invests in distressed securities, which are securities of companies that are in or believed to be near bankruptcy or whose securities are otherwise undergoing extreme financial situations that put the continuation of the issuer as a going concern at risk. Distressed securities include below investment-grade securities.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Special Situation Securities. The Fund may also invest in “special situation” securities when the Fund’s Adviser believes such investments will benefit the Fund. A special situation arises when, in the Adviser’s opinion, the securities of a company will experience an unusual gain or loss solely by reason of a development particularly or uniquely applicable to that company. Such situations include, but are not limited to: material litigation, technological breakthroughs and new management or management policies, spin-offs, break-ups, or divestitures. Special situation investments may include illiquid or restricted securities, such as private equity investments, and initial public offerings.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Activist Investments. The Fund invests in securities of issuers that in the opinion of the Adviser may become subject to a change of control fight. These are typically proxy fights by minority investors seeking to have their representatives elected to the board of trustees or directors, often with the intention of replacing existing management, new capital allocation policies, or selling the company. Profits are expected from the eventual success of the new board of trustees or directors in increasing the company’s value. The Fund may invest with the intention of participating actively in the change of control, or staying passive. Although some of the companies the Fund targets as an “activist investment” may be considered potential candidates for a merger takeover, proxy fights differ from merger arbitrage in that no concrete acquisition may have been proposed yet, and may not be proposed in the future.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Short Sales. The Fund may invest up to 50% of its net assets in short sales on equities at any given time.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Debt Instruments. The Fund may invest in all types of fixed-income securities including convertible debt, options, as well as privately negotiated options. The Fund may invest without restriction as to credit rating, maturity or duration. The Fund may purchase below investment grade securities, commonly referred to as “junk.”</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Tactical Allocation. Because the Fund is a tactical allocation fund, the assets of the Fund will shift on a short-term basis to take advantage of perceived differences in relative values of the various asset classes in which the Fund invests. The Fund will tactically allocate capital among a diverse range of trading strategies and markets, wherever the Adviser perceives opportunity.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Foreign Securities Investments. The Fund may invest in securities of foreign issuers, securities traded principally in securities markets outside the United States, U.S. traded securities of foreign issuers and/or securities denominated in foreign currencies (together, “foreign securities”). The Fund may seek exposure to foreign securities by investing in Depositary Receipts.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 0"><tr style="vertical-align: top"> <td style="width: 0"></td><td style="width: 0.25in">·</td><td style="text-align: justify">Derivative Instruments (Including Options and Swaps). The event arbitrage strategy employed by the Fund may include the use of derivatives. Options and swaps may be used for hedging purposes, as a substitute for investments in the underlying securities, to increase or decrease exposure (leverage), or for the purpose of generating income. The Fund may buy call or put options to implement its principal investment strategies. The Fund may write (sell) call options on securities that it owns. This allows the Fund to generate income on securities that the Adviser believes have a low likelihood of appreciating significantly until the option expiration. Similarly, options may be written (sold) if the Adviser is willing to purchase the underlying securities at a lower price. Hedging through derivatives may be done on underlying securities such as individual securities, market indices, as well as foreign currency or commodity exposure. Options contracts may be used to decrease (hedge) or increase market exposure, exposure to specific securities or exposure to other factors that may influence an event.</td></tr></table> Some of these strategies involve the use of arbitrage, which involves taking advantage of small price differences between two otherwise equivalent assets. As compared with conventional investing, the Adviser considers the Fund’s investment strategies to be less dependent on the overall direction of stock prices. In managing the Fund, the Adviser may engage in frequent buying and selling, resulting in a high portfolio turnover rate. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--NameOfTrusteeDollarRangeOfSecuritiesInFundAggregateDollarRangeOfSecuritiesInTrustBrianJMember_zCCsvzvJzpq9" style="font: bold 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-transform: uppercase; text-align: left">Principal Investment Risks As with any mutual fund investment, loss of money is a risk of investing. An investment in the Fund is not a deposit in a bank and is not insured or guaranteed by the Federal Deposit Insurance Corporation (“FDIC”) or any other government agency. The risks associated with an investment in the Fund can increase during times of significant market volatility, and there can be no assurance that the Fund will achieve its investment objective. The principal risks of investing in the Fund are: loss of money is a risk of investing <p id="xdx_A8C_eoef--RiskTextBlock_hoef--RiskAxis__custom--ActivistInvestmentRiskMember_zniaqu80Hly" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Activist Investment Risk. A proxy fight may not be concluded successfully, or the increase in value anticipated through the change of control may not materialize, in which case losses may be realized. ADR Risk. ADRs may be subject to some of the same risks as direct investment in foreign companies, which includes international trade, currency, political, regulatory and diplomatic risks. In a sponsored ADR arrangement, the foreign issuer assumes the obligation to pay some or all of the depositary’s transaction fees. Under an unsponsored ADR arrangement, the foreign issuer assumes no obligations and the depositary’s transaction fees are paid directly by the ADR holders. Because unsponsored ADR arrangements are organized independently and without the cooperation of the issuer of the underlying securities, available information concerning the foreign issuer may not be as current as for sponsored ADRs and voting rights with respect to the deposited securities are not passed through. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--CapitalStructureArbitrageRiskMember_z7CFobV25pu6" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Capital Structure Arbitrage Risk. The perceived mispricing identified by the Adviser may not disappear or may even increase, in which case losses may be realized. Chinese Securities Risk. The Fund may invest in securities of companies conducting business in the People's Republic of China (“PRC”). While these securities are listed on U.S. or other Western exchanges, they often are Variable Interest Entities (“VIE”) organized in third jurisdictions and which do not have direct ownership of assets in China. Instead, assets in the PRC are owned by PRC nationals, who assign their economic interest in the underlying business to the VIE. Such assignment contracts may not be enforceable in the courts of the PRC. Counterparty Risk. A counterparty (the other party to a transaction or an agreement or the party with whom the Fund executes transactions) to a transaction with the Fund may be unable or unwilling to make timely principal, interest or settlement payments, or otherwise honor its obligations. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--DebtInstrumentsRiskMember_z2HFrNsnn0Z5" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Debt Instruments Risk. Debt instruments are generally subject to the risk that the issuer will default on interest or principal payments. The Fund could lose money if an issuer of a fixed income security cannot meet its financial obligations or goes bankrupt. Adverse changes in the creditworthiness of an issuer can have an adverse effect on the value of the issuer’s securities. Derivative Instruments (Including Options and Swaps) Risk. Derivatives may entail investment exposures that are greater than their cost would suggest, meaning that a small investment in a derivative could have a large potential impact on the performance of the Fund. The Fund could experience a loss if derivatives do not perform as anticipated, are notcorrelated with the performance of other investments which they are used to hedge, or if the Fund is unable to liquidate a position because of an illiquid secondary market. The market for many derivatives is, or may suddenly become, illiquid. Changes in liquidity may result in significant, rapid and unpredictable changes in the prices of derivatives. Derivatives may entail investment exposures that are greater than their cost would suggest, meaning that a small investment in a derivative could have a large potential impact on the performance of the Fund. The Fund could experience a loss if derivatives do not perform as anticipated, are notcorrelated with the performance of other investments which they are used to hedge, or if the Fund is unable to liquidate a position because of an illiquid secondary market. The market for many derivatives is, or may suddenly become, illiquid. Changes in liquidity may result in significant, rapid and unpredictable changes in the prices of derivatives <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--DistressedSecuritiesRiskMember_z0qm8djSIoyg" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Distressed Securities Risk. Investment in distressed securities may be considered speculative and may present substantial risk of loss. Below investment-grade securities involve greater risks of default or downgrade and are more volatile than investment-grade securities. Additionally, below investment-grade securities involve greater risk of price declines than investment-grade securities due to actual or perceived changes in the issuer’s creditworthiness. Such securities are subject to the risk that the issuer may not be able to pay interest or dividends and ultimately to repay principal upon maturity. Discontinuation of these payments could adversely affect the market value of the securities. <p id="xdx_A87_eoef--RiskTextBlock_hoef--RiskAxis__custom--ForeignSecuritiesRiskMember_zULHFRh0PJP4" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Foreign Securities Risk. Investments in foreign securities involve greater risks compared to domestic investments for the following reasons: foreign companies may not be subject to the regulatory requirements of U.S. companies, so there may be less publicly available information about foreign issuers than U.S. companies; foreign companies generally are not subject to uniform accounting, auditing and financial reporting standards; dividends and interest on foreign securities may be subject to foreign withholding taxes and such taxes may reduce the net return to Fund shareholders; and foreign securities are often denominated in a currency other than the U.S. dollar, which will subject the Fund to the risks associated with fluctuations in currency values. High Yield Risk. Lower-quality bonds, known as "high yield" or "junk" bonds, present a significant risk for loss of principal and interest. These bonds offer the potential for higher return, but also involve greater risk than bonds of higher quality, including an increased possibility that the bond's issuer, obligor or guarantor may not be able to make its payments of interest and principal. If that happens, the value of the bond may decrease, the Fund's share price may decrease and its income may be reduced. An economic downturn or period of rising interest rates could adversely affect the market for these bonds and reduce the Fund's ability to sell its bonds. Such securities also may include "Rule 144A" securities, which are subject to resale restrictions. The lack of a liquid market for these bonds could decrease the Fund's share price. Initial Public Offering (“IPO”) Risk. IPO shares frequently are volatile in price, and may be held for only a short period of time, leading to increased portfolio turnover and expenses, such as commissions and transaction costs. When sold, IPO shares may result in realized taxable gains. IPO shares frequently are volatile in price, and may be held for only a short period of time, leading to increased portfolio turnover and expenses, such as commissions and transaction costs. When sold, IPO shares may result in realized taxable gains Interest Rate Risk. Fixed-income securities are subject to the risk that the securities could lose value because of interest rate changes. For example, bonds tend to decrease in value if interest rates rise. Debt obligations with longer maturities sometimes offer higher yields, but are subject to greater price shifts as a result of interest rate changes than debt obligations with shorter maturities. Liquidity Risk. This is the risk that the market for a security or other investment cannot accommodate an order to buy or sell the security or other investment in the desired timeframe and/or at the desired price. The values of illiquid investments are often more volatile than the values of more liquid investments. It may be more difficult for the Fund to determine a fair value of an illiquid investment than that of a more liquid comparable investment. Management Risk. The Adviser applies its investment techniques and risk analyses in making investment decisions for the Fund; there is no guarantee that its decisions will produce the intended result. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--MarketAndGeopoliticalRiskMember_z24zzaqKF1lf" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Market and Geopolitical Risk. The increasing interconnectivity between global economies and financial markets increases the likelihood that events or conditions in one region or financial market may adversely impact issuers in a different country, region or financial market. Securities in the Fund’s portfolio may underperform due to inflation (or expectations for inflation), interest rates, global demand for particular products or resources, natural disasters, climate-change and climate-related events, pandemics, epidemics, terrorism, international conflicts, regulatory events, tariffs and trade wars and governmental or quasi-governmental actions. The occurrence of global events similar to those in recent years, such as terrorist attacks around the world, natural disasters, pandemics, social and political discord or debt crises and downgrades, among others, may result in market volatility and may have long term effects on both the U.S. and global financial markets. It is difficult to predict when similar events affecting the U.S. or global financial markets may occur, the effects that such events may have and the duration of those effects. Any such event(s) could have a significant adverse impact on the value and risk profile of the Fund’s portfolio. <p id="xdx_A8A_eoef--RiskTextBlock_hoef--RiskAxis__custom--MergerArbitrageRiskMember_zwbUESstmtPj" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Merger Arbitrage Risk. Certain of the proposed reorganizations in which the Fund invests may be renegotiated or terminated, in which case losses may be realized. <p id="xdx_A86_eoef--RiskTextBlock_hoef--RiskAxis__custom--PortfolioTurnoverRiskMember_zzFTsJDy3yJk" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Portfolio Turnover Risk. A higher portfolio turnover results in higher transactional and brokerage costs. Sector Risk. If the Fund’s portfolio is overweighted in a certain sector, any negative development affecting that sector will have a greater impact on the Fund than it would have on a fund that is not overweighted in that sector. The Fund may from time to time have a greater focus in certain sectors, and weakness in those sectors could result in significant losses to the Fund. <p id="xdx_A84_eoef--RiskTextBlock_hoef--RiskAxis__custom--HealthcareSectorRiskMember_z9u81sEn7zb3" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Healthcare Sector Risk. The health care sector is subject to government regulation and reimbursement rates, as well as government approval of products and services, which could have a significant effect on price and availability, and can be significantly affected by product liability claims, rapid obsolescence, and patent expirations. <p id="xdx_A89_eoef--RiskTextBlock_hoef--RiskAxis__custom--ShareholderConcentrationRiskMember_zjniYGM2s0Y1" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Shareholder Concentration Risk. When a small number of shareholders account for a disproportionate share of the Fund’s assets, the Fund could be vulnerable to a very large redemption request from a significant shareholder who wants to redeem. Such redemption may increase the expense ratio of the Fund. The decision-making process may also be controlled by a limited number of shareholders which may be biased in favor of said small group. Short Selling Risk. Positions in shorted securities are speculative and more risky than long positions. Such investments involve the risk of an unlimited increase in the market price of the security sold short, which could result in a theoretically unlimited loss. Short sale strategies are often categorized as a form of leveraging or speculative investment. The use of leverage may multiply small price movements in securities into large changes in value. As a result of using leverage, the Fund’s share price may be more volatile than if no leverage were used. <p id="xdx_A8E_eoef--RiskTextBlock_hoef--RiskAxis__custom--StructuredNoteInvestmentRiskMember_zIxksc6jmvrb" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Structured Note Investment Risk. Principal repayments and/or interest payments on structured notes are dependent upon one or more of the following factors: currency exchange rates, interest rates, stock and stock indices, which may cause the principal repayments and/or payments to be subject to the related risks of each applicable factor. <p id="xdx_A81_eoef--RiskTextBlock_hoef--RiskAxis__custom--SpecialSituationsRiskMember_zCfnC13jg1m7" style="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-align: justify; text-indent: 0in">Special Situations Risk. Special situations often involve much greater risk than is found in the normal course of investing. Special situation investments may not have the effect on a company’s price that the Adviser expects, which could negatively impact the Fund. Performance The following bar chart displays the annual return of the Fund’s Class A shares over the past ten years. The bar chart also illustrates the variability of the performance from year to year and provides some indication of the risks of investing in the Fund by comparing the Fund’s performance with a broad-based securities market index and a supplemental index. Fund performance shown does not reflect Class A Shares sales charges. Performance would be lower if sales charges were included. Past performance does not guarantee or predict future results. The Fund acquired all of the assets and liabilities of Quaker Event Arbitrage Fund (the “Predecessor Fund”), a former series of Quaker Investment Trust, in a tax-free reorganization on June 22, 2018. In connection with this acquisition, shares of the Predecessor Fund’s Class A, Class C and Institutional Class Shares were exchanged for Class A, Class A and Institutional Class Shares of the Fund, respectively. The Predecessor Fund had an investment objective and strategies that were, in all material respects, the same as those of the Fund, and was managed in a manner that, in all material respects, complied with the investment guidelines and restrictions of the Fund. The performance information set forth below reflects the historical performance for the period after June 22, 2018 and for the Predecessor Fund shares for periods prior to June 22, 2018. Updated performance information will be available at no cost by calling 1-800-869-1679. Past performance does not guarantee or predict future results. 1-800-869-1679 Annual Total Returns (For the calendar years ended December 31) During the period shown, the Fund’s highest return for a quarter was 35.55% during the third quarter 2020, and the Fund’s lowest return was -26.97% during the first quarter 2020. The Fund’s Class A shares’ total year-to-date return through September 30, 2026 was 2.98% on a load-waived basis. highest return 0.3555 lowest return -0.2697 <div id="xdx_A8F_eoef--BarChartTableTextBlock_zqzZx8tGQ9e5"></div> <table cellpadding="0" cellspacing="0" id="xdx_A59_dU_zOhKmIX9ARl" style="font: 12pt Times New Roman, Times, Serif; display: none; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Annual Total Returns"> <tr> <td style="white-space: nowrap; width: 63%; padding-right: 5.4pt; padding-left: 5.4pt">Year</td> <td style="white-space: nowrap; width: 37%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">Percentage</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2016</td> <td id="xdx_986_eoef--AvgAnnlRtrPct_c20160101__20161231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zZBdVn8t0kri" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.138</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2017</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_c20170101__20171231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zQmj4F7WWPVe" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0816</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2018</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_c20180101__20181231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zYQ1BH4UYuel" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.017</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2019</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_c20190101__20191231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zJV2GpaAMdOc" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.149</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2020</td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_c20200101__20201231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zU7yWyc8h5Ok" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.1884</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2021</td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_c20210101__20211231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zuzCsn585Gx7" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.2287</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2022</td> <td id="xdx_981_eoef--AvgAnnlRtrPct_c20220101__20221231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zJLHJNKTvbv1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0351</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2023</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_c20230101__20231231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zvPjj3nkgh4d" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0224</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2024</td> <td id="xdx_988_eoef--AvgAnnlRtrPct_c20240101__20241231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zebws9mTR2zh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0626</td></tr> <tr> <td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Annual Return 2025</td> <td id="xdx_98E_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zP3Crn8ljdy" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.0939</td></tr> </table> 0.138 0.0816 0.017 0.149 0.1884 0.2287 0.0351 0.0224 0.0626 0.0939 Performance Table Average Annual Total Returns (For periods ended December 31, 2025) <div id="xdx_A82_eoef--PerformanceTableTextBlock_z0NcJPUHdoMi"></div> <table cellpadding="0" cellspacing="0" id="xdx_A51_dU_zWIg1j9NYASj" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse" summary="xdx: Disclosure - Average Annual Total Returns"> <tr style="vertical-align: top; background-color: #D9D9D9"> <td style="border: Black 1pt solid; width: 54%; padding-right: 0in; padding-left: 5.4pt"> </td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">One Year</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 16%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Five Year</td> <td style="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; width: 15%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Ten Year</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">Class A Return Before Taxes</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member_zo2sQrgQwjJ2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6.41%</td> <td id="xdx_986_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zQ7SP0OuNq6h" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">8.02%</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member_zHEFLmj9Rz5d" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">9.65%</td></tr> <tr 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"> Class A Return After Taxes on Distributions*</td> <td id="xdx_988_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_fKg_____zeaXkdgX6m7k" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6.08%</td> <td id="xdx_98C_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_fKg_____zuM41CFQa0A8" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6.74%</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_fKg_____zRrw3gVIA6Y2" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">8.65%</td></tr> <tr 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"> Class A Return After Taxes on Distributions and Sale of Fund Shares</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zUV81atTE6a3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">3.80%</td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_z2aqY99tj0Wd" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.86%</td> <td id="xdx_986_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zmDCd3Pg261b" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">7.48%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">Russell 3000 Index**</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKio___zSV8Mur5rjz" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">17.15%</td> <td id="xdx_98D_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKio___zgQY3c2kXbM5" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">13.15%</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKio___zpwaIzEMPfJl" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">14.29%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">HFRX Event-Driven Index***</td> <td id="xdx_982_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__custom--HFRXIndexMember_fKioq_zZN9VDfXasv3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.90%</td> <td id="xdx_98F_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__custom--HFRXIndexMember_fKioq_zAUtgnDfEl0i" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.56%</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200195Member__oef--PerformanceMeasureAxis__custom--HFRXIndexMember_fKioq_z0Dg0x7dR6pl" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">2.54%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td></tr> <tr style="vertical-align: top; background-color: #D1D1D1"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt"> </td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">One Year</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Five Year</td> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">Ten Year</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">Institutional Class Return Before Taxes (Inception Date: June 7, 2010)</td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member_zhNUuqCMado5" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">9.39%</td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member_zJhFTyCdiHyi" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">8.84%</td> <td id="xdx_983_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member_zc3EZL8cdcD3" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">10.24%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">Institutional Class Return After Taxes on Distributions*</td> <td id="xdx_981_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_fKg_____zR4JArJUJoib" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">8.99%</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_fKg_____zbfJP88SBrD9" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">7.53%</td> <td id="xdx_985_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsMember_fKg_____zln0kg5P5sGa" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">9.18%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">Institutional Class Return After Taxes on Distributions and Sale of Fund Shares</td> <td id="xdx_981_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zTUzMs4KYTNe" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.56%</td> <td id="xdx_980_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zaWviSyE6KTh" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">6.51%</td> <td id="xdx_98C_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__oef--AfterTaxesOnDistributionsAndSalesMember_zybBP7jk7Z26" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">7.95%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">Russell 3000 Index**</td> <td id="xdx_98A_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKio___ziB2yJZwvS3f" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">17.15%</td> <td id="xdx_984_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKio___ztL8fQTbB138" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">13.15%</td> <td id="xdx_983_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__custom--Russell3000Member_fKio___z6N6fXtSLF9g" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">14.29%</td></tr> <tr style="vertical-align: top"> <td style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; padding-right: 0in; padding-left: 5.4pt">HFRX Event-Driven Index***</td> <td id="xdx_98B_eoef--AvgAnnlRtrPct_c20250101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__custom--HFRXIndexMember_fKioq_zY27vXXugSOd" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">5.90%</td> <td id="xdx_983_eoef--AvgAnnlRtrPct_c20210101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__custom--HFRXIndexMember_fKioq_zfo3UCOnABfc" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.56%</td> <td id="xdx_986_eoef--AvgAnnlRtrPct_c20160101__20251231__dei--LegalEntityAxis__custom--S000061828Member__oef--ClassAxis__custom--C000200196Member__oef--PerformanceMeasureAxis__custom--HFRXIndexMember_fKioq_z46CuHpAbHGf" style="border-right: Black 1pt solid; border-bottom: Black 1pt solid; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">2.54%</td></tr> </table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><tr style="vertical-align: top"> <td style="width: 0.25in">*</td><td style="text-align: justify">After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class; after-tax returns for the other class will vary.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><tr style="vertical-align: top"> <td style="width: 0.25in">**</td><td style="text-align: justify">The Russell 3000® Index is a capitalization-weighted stock market index, maintained by FTSE Russell, that seeks to be a benchmark of the entire U.S. stock market. It measures the performance of the 3,000 largest publicly held companies incorporated in America as measured by total market capitalization, and represents approximately 98% of the American public equity market. Investors cannot invest directly in an index or benchmark. Unlike the Fund’s returns, the index does not reflect any fees or expenses.</td></tr></table> <table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; margin-top: 0; margin-bottom: 12pt"><tr style="vertical-align: top"> <td style="width: 0.25in">***</td><td style="text-align: justify">The HFRX Event-Driven Index is comprised of daily-reporting liquid alternative UCITS funds. Event driven managers maintain positions in companies currently or prospectively involved in corporate transactions of a wide variety, including but not limited to mergers, restructurings, financial distress, tender offers, shareholder buybacks, debt exchanges, security issuance, or other capital structure adjustments. Investors cannot invest directly in an index or benchmark. Unlike the Fund’s returns, the index does not reflect any fees or expenses.</td></tr></table> 0.0641 0.0802 0.0965 0.0608 0.0674 0.0865 0.0380 0.0586 0.0748 0.1715 0.1315 0.1429 0.0590 0.0056 0.0254 0.0939 0.0884 0.1024 0.0899 0.0753 0.0918 0.0556 0.0651 0.0795 0.1715 0.1315 0.1429 0.0590 0.0056 0.0254 Restated to reflect the reduced management fee. Acquired Fund Fees and Expenses are the indirect costs of investing in other investment companies. The operating expenses in this fee table will not correlate to the expense ratio in the Fund’s financial highlights because the financial statements include only the direct operating expenses incurred by the Fund. The Russell 3000® Index is a capitalization-weighted stock market index, maintained by FTSE Russell, that seeks to be a benchmark of the entire U.S. stock market. It measures the performance of the 3,000 largest publicly held companies incorporated in America as measured by total market capitalization, and represents approximately 98% of the American public equity market. Investors cannot invest directly in an index or benchmark. The Russell Midcap Value Index measures performance of the mid-cap value segment of the U.S. equity universe. Investors may not invest in the index directly. The 1.00% maximum deferred sales charge may be assessed in the case of investments at or above the $250,000 breakpoint (where you do not pay an initial sales charge) on shares redeemed within 18 months of purchase. “Other Expenses” includes litigation expenses of 0.13%, which are excluded from the fee waiver, as discussed below. Camelot Event-Driven Advisors, LLC (the “Adviser”), has contractually agreed to waive its management fees and/or assume expenses to the extent necessary to reduce the Total Annual Fund Operating Expenses (exclusive of any front-end or contingent deferred loads, taxes, all interest, brokerage commissions, expenses incurred in connection with any merger or reorganization, dividend expense on securities sold short, underlying fund fees, 12b-1 fees and expenses, and extraordinary expenses such as litigation) when they exceed 1.74% of the Fund’s average daily net assets (the “Annualized Expense Ratio”). This agreement will continue in effect until October 31, 2027. Any waivers and reimbursements made by the Adviser to the Fund are subject to recoupment by the Adviser within three (3) fiscal years following the date of such waiver or reimbursement, provided that such recoupment does not cause the Total Annual Fund Operating Expenses to exceed the Annualized Expense Ratio in effect at the time of the (i) fee waiver and/or expense assumption, or (ii) the fee recoupment. This agreement shall be terminated upon the termination of the advisory agreement or, with respect to the Fund, in the event of its merger or liquidation. After-tax returns are calculated using the historical highest individual federal marginal income tax rates and do not reflect the impact of state and local taxes. Actual after-tax returns depend on an investor’s tax situation and may differ from those shown. After-tax returns shown are not relevant to investors who hold their Fund shares through tax-deferred arrangements, such as 401(k) plans or individual retirement accounts. After-tax returns are shown for only one class; after-tax returns for the other class will vary. The Russell 3000® Index is a capitalization-weighted stock market index, maintained by FTSE Russell, that seeks to be a benchmark of the entire U.S. stock market. It measures the performance of the 3,000 largest publicly held companies incorporated in America as measured by total market capitalization, and represents approximately 98% of the American public equity market. Investors cannot invest directly in an index or benchmark. Unlike the Fund’s returns, the index does not reflect any fees or expenses. The HFRX Event-Driven Index is comprised of daily-reporting liquid alternative UCITS funds. Event driven managers maintain positions in companies currently or prospectively involved in corporate transactions of a wide variety, including but not limited to mergers, restructurings, financial distress, tender offers, shareholder buybacks, debt exchanges, security issuance, or other capital structure adjustments. Investors cannot invest directly in an index or benchmark. Unlike the Fund’s returns, the index does not reflect any fees or expenses.