Holdings KL Allocation Fund, as of 3/31/20 Equity Securities % of Net Assets Country Sector CHUGAI PHARM CO 2.33 Japan Health Care FISHER & PAYKEL HE 1.79 New Zealand Health Care L'OREAL 1.72 France Consumer Staples COLOPLAST A/S 1.53 Denmark Health Care KONINKLIJKE DSM NV 1.44 Netherlands Materials INTEL CORP COM 1.13 United States Information Technology STERICYCLE INC 1.08 United States Industrials KAO CORP 1.08 Japan Consumer Staples SMC CORP 1.08 Japan Industrials UNI-CHARM CORP. 1.08 Japan Consumer Staples BIO-TECHNE CORP 1.07 United States Health Care DAIICHI SANKYO COM 1.06 Japan Health Care NOVARTIS AG 1.05 Switzerland Health Care GENTEX CORP 1.05 United States Consumer Discretionary JOHNSON & JOHNSON 1.04 United States Health Care 3M CO COM 1.04 United States Industrials SHIMADZU CORP 1.04 Japan Information Technology ALPHABET INC CAP STK CL A 1.04 United States Communication Services MERCK & CO INC COM 1.03 United States Health Care HISAMITSU PHARM CO 1.03 Japan Health Care PROCTER AND GAMBLE CO COM 1.03 United States Consumer Staples NISSIN FOOD HOLDINGS CO LTD 1.02 Japan Consumer Staples IROBOT CORP 1.01 United States Consumer Discretionary DAIKIN INDUSTRIES LTD 1.01 Japan Industrials NTT DOCOMO 1.00 Japan Communication Services GRIFOLS SA 1.00 Spain Health Care AIR LIQUIDE S.A. 1.00 France Materials BECTON DICKINSON & CO COM 1.00 United States Health Care NICE SYSTEMS LTD 0.99 Israel Information Technology VARIAN MED SYS INC COM 0.99 United States Health Care SYMRISE AG 0.98 Denmark Materials RECKITT BENCK GRP 0.98 United Kingdom Consumer Staples SUNTORY BEVERAGE & FOOD LTD 0.97 Japan Consumer Staples NOVO NORDISK A/S-B 0.94 Denmark Health Care SCHNEIDER ELECTRIC S.A. 0.89 France Industrials FRANCO NEVADA CORP 0.87 Canada Materials SWEDISH ORPHAN BIO 0.87 Sweden Health Care ROYAL GOLD INC 0.87 United States Materials ELISA OYJ 0.86 Finland Communication Services HOYA CORP 0.85 Japan Health Care CAE INC (CANADA) 0.84 Canada Industrials HARMONIC DRIVE SYS 0.82 Japan Industrials DANAHER CORP DEL COM 0.79 United States Health Care ASTELLAS PHARMA 0.79 Japan Health Care ADVANTEST CORP 0.78 Japan Information Technology SANOFI 0.77 France Health Care RINNAI CORP 0.77 Japan Consumer Discretionary HERMES INTL 0.76 France Consumer Discretionary NIPPON SHINYAKU CO 0.76 Japan Health Care FUJIFILM HOLDINGS CORP 0.72 Japan Information Technology ASTRAZENECA PLC 0.72 United Kingdom Health Care ABBOTT LABS COM 0.67 United States Health Care GLORY LTD 0.67 Japan Industrials MOWI ASA 0.64 Norway Consumer Staples SMITH & NEPHEW PLC 0.60 United Kingdom Health Care SONOVA HOLDING AG 0.60 Switzerland Health Care SMITHS GROUP 0.60 United Kingdom Industrials STRYKER CORP COM 0.58 United States Health Care TELE2 AB 0.56 Sweden Communication Services HELLA GMBH & CO.KG 0.47 Germany Consumer Discretionary MEGGITT PLC 0.38 United Kingdom Industrials Fixed Income % of Net Assets Country SCHWAB US TIPS ETF 5.52 United States ISHARES US TREAS 0-1YR USD A ETF 5.24 United States Precious Metals SPROTT PHYSICAL GOLD TRUST UNIT 9.29 Canada Cash Holdings United States Dollar 21.88 United States Portfolio composition will change due to ongoing management of the Fund. References to specific securities or sectors should not be construed as recommendations by the Fund, its Advisor or Distributor. The KL Allocation Fund is distributed by IMST Distributors, LLC. Please consider the Fund’s investment objectives, risks, charges and expenses before investing. The prospectus or summary prospectus that contains this and other information about the Fund, is available by calling 888.998.9890 and should be read carefully. When current market, economic, political or other conditions are unsuitable and would impair the pursuit of the Fund's investment objective, the Fund may temporarily invest its assets in cash or high-quality short-term money market instruments. When the Fund takes a temporary defensive position, it may not achieve its investment objective. The risk country was used for the country specification..