North Capital Funds Trust

The registered money market fund of the North Capital group. North Capital, Inc. has advised it since operations began on July 17, 2019, at a loss, waiving its fee and reimbursing all expenses since inception. Institutional Class net assets were $92,173,314.83 at September 30, 2026 (92,176,655.34 shares), after $100.6 million at July 31, 2026, which was up 51% in three months from $66.7 million; September 2026 gross subscriptions were $4,011,536.65 against $1,957,885.66 of redemptions, and the 7-day net yield was 3.73% through the month. On October 6, 2026 the trust filed a preliminary proxy (accession 0001999371-26-022221) for a special meeting to approve a new advisory agreement with North Capital, Inc., unchanged as to strategy, objective, portfolio manager and fees, because on September 15, 2026 the adviser's parent, North Capital Investment Technology, Inc., entered into a definitive merger agreement with MoonPay Inc under which NCIT becomes a wholly owned MoonPay subsidiary; completion needs FINRA and South Dakota Division of Banking approval and is expected by early 2027, and the change of control terminates the current agreement under the Investment Company Act. James P. Dowd, the group's founder and chief executive, is a trustee and holds an ownership interest in NCIT. The fund's profile, a $1 minimum, no net fee and rapid growth, is consistent with a cash-management role for money on North Capital's rails; no public document describes a sweep relationship, and this profile does not assert one.

Cash management: a Delaware statutory trust advised by North Capital, Inc. of Salt Lake City, the investment adviser in the six-entity North Capital complex whose broker-dealer, escrow, transfer agent and PPEX alternative trading system serve retail alternatives platforms. The fund holds Treasuries at a $1.00 stable net asset value with a $1.00 minimum initial investment, a fully waived advisory fee and reimbursed expenses, and is the complex's only public monthly window into its scale. U.S. Bank Global Fund Services, Milwaukee, is the administrator named in the proxy.