Yes, it should do this. But keep in mind the curl and lift function will be slower than if you had only activated one function at a time. If you throttle up the engine to at least around 2000 rpm, the hydraulic pump will put out full flow, and can make this a bit faster. On your KL401 loader since it has larger diameter cylinders than my KL351 loader, but the flow rate from the pump is still about 10gpm, they will fill slower as there is more space to have to pump fluid into. The upside to the larger cylinders is your loader can lift more than mine, but it is slower than mine.