Today is Saturday, August 14th 2026 and I am a day late but not a dollar short.

Before July, in the last runup of momentum stocks, good earnings reports lacked follow through on value stocks.

What Worked in Value:

Frank Value Fund holdings H&R Block had a great week, appreciating over 16% on a fantastic earnings report.

What didn't work?

While my portfolio had a nice week, it still feels like we are running against the wind with momentum stocks regaining excitement.

Next up is On the Hunting Trail for Value

The Lion had a good meal this week as I found a compelling idea for a chunk of my clients' capital. This time we bought a spinoff company.

Website: https://frankfunds.com

Brian X Account: https://x.com/bfrankvalue

Performance data quoted represents past performance and 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. Current performance may be lower or higher than the performance data quoted. You may obtain performance data current to the most recent month-end by calling the Fund at 1-888-217-5426 or visiting our website at www.frankfunds.com. Returns include reinvestment of any dividends and capital gain distributions.

Non-FDIC insured. May lose value. No bank guarantee. The Fund's investment objectives, risks, charges and expenses must be considered carefully before investing. The prospectus contains this and other important information about the Fund, and it may be obtained by calling 1-888-217-5426. Please read it carefully before you invest or send money.

This publication does not constitute an offer or solicitation of any transaction in any securities. Any recommendation contained herein may not be suitable for all investors. Information contained in this publication has been obtained from sources we believe to be reliable, but cannot be guaranteed.

The information in this portfolio manager letter represents the opinions of the individual portfolio managers and is not intended to be a forecast of future events, a guarantee of future results or investment advice. Also, please note that any discussion of the Fund's holdings, the Fund's performance, and the portfolio managers' views are as of the date of this recording and are subject to change without notice.