Caldwell & Orkin – Gator Capital Long/Short Fund Returns

FEES AND EXPENSES

Ticker	COAGX
CUSIP	128819307
Minimum Initial Investment	$5,000
Management Fee	1.00%
Gross Expense Ratio	3.40%
Adjusted Expense Ratio (Operating Expense)	3.09%

The Total Annual Fund Operating Expenses do not correlate to the ratio of total expenses provided in the Financial Highlights table for the period ended April 30, 2022, as the Financial Highlights table does not include Acquired Fund Fees and Expenses.

Gator Capital Management, LLC has agreed to reimburse the Fund through August 30, 2023, to the extent necessary to prevent the Fund’s annual ordinary operating expenses (excluding taxes, expenses related to the execution of portfolio transactions and the investment activities of the Fund such as, for example, interest, dividend expenses on securities sold short, brokerage commissions and fees and expenses charged to the Fund by any investment company in which the Fund invests and extraordinary charges such as litigation costs) from exceeding 2.00% of the Fund’s average net asset.

Period and average annual total returns (as of MARCH 31, 2024)

RETURNS AT NAV (Without Sales Charge)¹	3 Months	YTD	1 YR	3 YR	5 YR	10 YR
Caldwell & Orkin – Gator Capital Long/Short Fund	12.65%	12.65%	43.31%	14.81%	16.56%	7.78%
Benchmark
S&P 500 Index	10.56%	10.56%	29.88%	11.49%	15.05%	12.96%
Eurekahedge Long Short Equities Hedge Fund Index	4.91%	4.91%	11.36%	2.90%	7.36%	6.13%
¹Returns greater than one year are annualized

Calendar Year Returns (%)

	2024	2023	2022	2021	2020	2019	2018	2017	2016	2015	2014	2013	2012	2011	2010	2009
Caldwell & Orkin – Gator Capital Long/Short Fund	12.65%	31.98%	-7.18%	27.18%	15.96%	24.20%	-15.53%	0.93%	-10.17%	5.11%	6.82%	3.46%	9.83%	-0.66%	-1.01%	-3.39%
S&P 500	10.56%	26.29%	-18.11%	28.71%	6.17%	31.49%	-4.38%	21.83%	11.96%	1.38%	13.69%	32.39%	16.00%	2.11%	15.06%	26.46%
Eurekahedge Long Short Equities Hedge Fund Index	4.91%	8.55%	-8.39%	10.22%	5.96%	-6.29%	12.90%	3.90%	3.54%	3.91%	16.29%	8.56%	-5.84%	10.79%	25.89%

The performance data quoted represents past performance; past performance does not guarantee future results. The investment return and principal value of an investment will fluctuate so that an investor’s shares, when redeemed, may be worth more or less than their original cost. The Fund’s current performance may be lower or higher than the performance data quoted. Investors may obtain performance information current to the most recent month end at 1-800-467-7903.

Investing involves risk, including loss of principal. The Fund uses aggressive investment strategies (including short positions and options) that have the potential for yielding high returns; however, these strategies may also result in losses. Stocks sold short have unlimited risk. Investment return and principal value will fluctuate so that an investors shares, when redeemed, may be worth more or less than their original cost. Options are not suitable for all investors.

The Fund is distributed by Ultimus Fund Distributors, LLC.

An investor should consider the Fund’s investment objectives, risk, charges and expenses carefully before investing. The prospectus or summary prospectus contain this and other important information about the Fund(s) and are available at caldwellorkin.comor by calling (813) 282-7870. Please read the prospectus or summary prospectus carefully before investing.

Definitions and Data Notes:
Eurekahedge Long Short Equities Hedge Fund Index: An equally weighted index of 966 constituent funds. The index is designed to provide a broad measure of the performance of underlying hedge fund managers. The index is base weighted at 100 at Dec 1999, does not contain duplicate funds and is denominated in local currencies.
S&P 500 Total Return Index: An unmanaged index of U.S. stocks. Its performance fights reflect total return, but do not reflect any fees or expenses. You many not invest directly in an index.
Standard Deviation: A statistical measure of the volatility of the fund’s returns. The larger the standard deviation is, the greater the volatility of return.