X-energy Investment

(11/24/25)  We’re pleased to share that the Hood River Small-Cap Growth Fund and Hood River New Opportunities Fund have made an investment in X-energy, a company developing advanced small modular nuclear reactors (SMRs) and TRISO fuel technology.  This investment reflects our current view that next-generation nuclear technologies could play a meaningful role in supporting reliable energy supply and decarbonization over time.

X-energy Closes Oversubscribed $700 Million Series D Financing Round to Continue Expansion to Meet Global Energy Demand — X-energy

Investment Considerations:

All investing includes risk, including the loss of principal. The Small Cap Growth Fund invests in small-cap securities which present a greater risk of loss than large-cap securities, and in growth companies which can be more sensitive to the company’s earnings and more volatile than the stock market in general.  The Fund also invests in foreign securities which are subject to risks including currency fluctuations, economic and political change and differing accounting standards.  The Fund may invest in derivatives and IPOs, which are highly volatile.  Additional risk information may be found in the prospectusClick here for top 10 holdings.  Current and future holdings are subject to risk.

The New Opportunities Fund invests in small-cap and mid-cap securities which present a greater risk of loss than large-cap securities, and in growth companies which can be more sensitive to the company’s earnings and more volatile than the stock market in general. The Fund may also invest in foreign securities which are subject to risks including currency fluctuations, economic and political change and differing accounting standards. The Fund may invest in derivatives and IPOs, which are highly volatile. Additional risk information may be found in the prospectusClick here for top 10 holdings.  Current and future holdings are subject to risk.

Investors should carefully consider the Fund’s investment objective, risks, charges and expenses before investing. For a prospectus, which contains this and other important information about the Fund, please call 800-497-2960. Please read the prospectus carefully before investing or sending money.

The Hood River Small Cap Growth Fund and the Hood River New Opportunities Fund are distributed by Quasar Distributors, LLC. Hood River Capital Management LLC serves as the advisor to the Hood River Small Cap Growth Fund and the Hood River New Opportunities Fund.

NOT FDIC INSURED-NO BANK GUARANTEE-MAY LOSE VALUE

Hood River Capital Management LLC serves as the advisor to the Fund.