AdvisorOne CLS Shelter Fund Class N 

The primary objective of this fund is to mitigate the adverse effects of significant downturns in the equity market, with a secondary aim of generating capital appreciation for investors. The fund predominantly allocates its assets across a diverse range of instruments: U.S. Treasury bills, direct holdings of individual common stocks, money market funds, and various pooled investment vehicles. These pooled vehicles—comprising Exchange Traded Funds (ETFs), open-end mutual funds, and closed-end funds—each primarily focus on investing in equity securities, including common stock and convertible securities. This category of equity-focused ETFs and funds is collectively known as 'underlying funds.' Importantly, the equity securities acquired, whether directly or through these underlying funds, are not subject to restrictions based on the issuer's market capitalization or country of origin.