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      <regStreet1>17605 WRIGHT STREET</regStreet1>
      <regCity>OMAHA</regCity>
      <regStateConditional regCountry="US" regState="US-NE"/>
      <regZipOrPostalCode>68130</regZipOrPostalCode>
      <regPhone>631-470-2600</regPhone>
      <seriesName>CLS Global Aggressive Equity Fund</seriesName>
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      <repPdEnd>2020-04-30</repPdEnd>
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        <balance>271000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>14151620.00000000</valUSD>
        <pctVal>9.623551111607</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5969680.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES MSCI ALL COUNTRY</title>
        <cusip>464288182</cusip>
        <identifiers>
          <isin value="US4642881829"/>
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        <balance>121000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8385300.00000000</valUSD>
        <pctVal>5.702270350402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4260298.56000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vanguard/Wellingtn</name>
        <lei>549300X1E8M3H6XRMS84</lei>
        <title>VANGUARD US LIQUIDITY FAC</title>
        <cusip>921935300</cusip>
        <identifiers>
          <isin value="US9219353003"/>
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        <balance>3500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>292171.25000000</valUSD>
        <pctVal>0.198685730518</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>United Sts Commodi</name>
        <lei>N/A</lei>
        <title>UNITED STATES COMMODITY I</title>
        <cusip>911717106</cusip>
        <identifiers>
          <isin value="US9117171069"/>
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        <balance>28000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1016960.00000000</valUSD>
        <pctVal>0.691565102685</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES GLOBAL CLEAN ENER</title>
        <cusip>464288224</cusip>
        <identifiers>
          <isin value="US4642882249"/>
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        <balance>315000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3357900.00000000</valUSD>
        <pctVal>2.283478660228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vaneck Vectors Etf Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK VECTORS PHARMACEUT</title>
        <cusip>92189F692</cusip>
        <identifiers>
          <isin value="US92189F6925"/>
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        <balance>129000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>7647120.00000000</valUSD>
        <pctVal>5.200284502876</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="4298788.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Ark Etf Tr</name>
        <lei>2549000Z0EWMH3U0CQ16</lei>
        <title>ARK INNOVATION ETF</title>
        <cusip>00214Q104</cusip>
        <identifiers>
          <isin value="US00214Q1040"/>
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        <balance>70448.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3115915.04000000</valUSD>
        <pctVal>2.118921201026</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Money Market</name>
        <lei>25490005VWJDWX717014</lei>
        <title>FEDERATED GOVERNMENT OBL</title>
        <cusip>60934N104</cusip>
        <identifiers>
          <isin value="US60934N1046"/>
        </identifiers>
        <balance>66394.28000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>66394.28000000</valUSD>
        <pctVal>0.045150219345</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Spdr Index Shs Fds</name>
        <lei>5493004JVD6CQEEJSS37</lei>
        <title>SPDR S&amp;P EMERGING ASIA PA</title>
        <cusip>78463X301</cusip>
        <identifiers>
          <isin value="US78463X3017"/>
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        <balance>38000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>3692840.00000000</valUSD>
        <pctVal>2.511248499252</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="68252.80000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Legg Mason Etf Investment Trust</name>
        <lei>549300D7ZZ1A7JJ9G964</lei>
        <title>LEGG MASON SMALL-CAP QUAL</title>
        <cusip>52468L877</cusip>
        <identifiers>
          <isin value="US52468L8770"/>
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        <balance>50000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1323500.00000000</valUSD>
        <pctVal>0.900022039611</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES EDGE MSCI INTL VA</title>
        <cusip>46435G409</cusip>
        <identifiers>
          <isin value="US46435G4091"/>
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        <balance>365000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8643200.00000000</valUSD>
        <pctVal>5.877650542329</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="147374.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>Indexiq Etf Tr</name>
        <lei>549300RB5MLWJ1UN5M66</lei>
        <title>IQ US REAL ESTATE SMALL C</title>
        <cusip>45409B628</cusip>
        <identifiers>
          <isin value="US45409B6285"/>
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        <balance>32000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>845552.00000000</valUSD>
        <pctVal>0.575002218086</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Vaneck Vectors Etf Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK VECTORS RETAIL ETF</title>
        <cusip>92189F684</cusip>
        <identifiers>
          <isin value="US92189F6842"/>
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        <balance>72000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>8372606.40000000</valUSD>
        <pctVal>5.693638299203</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="621319.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>ISHARES TRUST</name>
        <lei>5493000860OXIC4B5K91</lei>
        <title>ISHARES PHLX SEMICONDUCTO</title>
        <cusip>464287523</cusip>
        <identifiers>
          <isin value="US4642875235"/>
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        <balance>25500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5720925.00000000</valUSD>
        <pctVal>3.890410719279</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="5344113.00000000"/>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LATTICE STRATEGIES TR</name>
        <lei>549300X74R262ISYFF63</lei>
        <title>HARTFORD MULTIFACTOR EMER</title>
        <cusip>518416201</cusip>
        <identifiers>
          <isin value="US5184162015"/>
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        <balance>177000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4024201.20000000</valUSD>
        <pctVal>2.736584640598</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Global X Fds</name>
        <lei>5493003RA4QUTSYF1N15</lei>
        <title>GLOBAL X FUNDS GLOBAL X S</title>
        <cusip>37950E416</cusip>
        <identifiers>
          <isin value="US37950E4162"/>
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        <balance>15000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>476700.00000000</valUSD>
        <pctVal>0.324171141883</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Vaneck Vectors Etf Trust</name>
        <lei>549300ZLFKNTXC51ZN76</lei>
        <title>VANECK VECTORS GOLD MINER</title>
        <cusip>92189F106</cusip>
        <identifiers>
          <isin value="US92189F1066"/>
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        <balance>18000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>506700.00000000</valUSD>
        <pctVal>0.344572094802</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>First Trust Exchange-Traded AlphaDEX Fund</name>
        <lei>549300HY3NFBU00W8S30</lei>
        <title>FIRST TRUST CLOUD COMPUTI</title>
        <cusip>33734X192</cusip>
        <identifiers>
          <isin value="US33734X1928"/>
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        <balance>100000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5750000.00000000</valUSD>
        <pctVal>3.910182642816</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <loanByFundCondition isLoanByFund="Y" loanVal="23264.00000000"/>
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      </invstOrSec>
      <invstOrSec>
        <name>DREYFUS GOVERNMENT CASH MANAGEMENT</name>
        <lei>N/A</lei>
        <title>DREYFUS GOV'T CASH MGMT -INSTITUTIONAL CUSIP 262006208 DGCXX (#289)</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CASHCOLLREINV"/>
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        <balance>0.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="REINVESTED COLLATERAL" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="682037.33000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>MILESTONE TREASURY OBLIG-INS</name>
        <lei>N/A</lei>
        <title>MILESTONE TREASURY OBLIG-INS</title>
        <cusip>N/A</cusip>
        <identifiers>
          <other otherDesc="Internal ID" value="CASHCOLLREINV"/>
        </identifiers>
        <balance>0.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>0.00000000</valUSD>
        <pctVal>0.000000</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="REINVESTED COLLATERAL" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>N/A</fairValLevel>
        <securityLending>
          <cashCollateralCondition cashCollateralVal="23155000.00000000" isCashCollateral="Y"/>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2019-11-28</ncom:dateSigned>
      <ncom:nameOfApplicant>AdvisorOne Funds</ncom:nameOfApplicant>
      <ncom:signature>Brian Curley</ncom:signature>
      <ncom:signerName>Brian Curley</ncom:signerName>
      <ncom:title>Assistant Treasurer</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
