# EDGAR Filing Document

**Accession Number:** 0001045701
**File Stem:** 0001162044-26-000415
**Filing Date:** 2026-5
**Character Count:** 248979
**Document Hash:** 63fd58dc4b4effdaefd2f49de504c4b8
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-26-000415.hdr.sgml**: 20260504

**ACCESSION NUMBER**: 0001162044-26-000415

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 29

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260504

**DATE AS OF CHANGE**: 20260504

**EFFECTIVENESS DATE**: 20260504

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Monteagle Funds
- **CENTRAL INDEX KEY:** 0001045701

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08529
- **FILM NUMBER:** 26936274

**BUSINESS ADDRESS:**
- **STREET 1:** 2728 19TH PLACE SOUTH
- **STREET 2:** SUITE 160
- **CITY:** HOMEWOOD
- **STATE:** AL
- **ZIP:** 35209
- **BUSINESS PHONE:** 888-263-5593

**MAIL ADDRESS:**
- **STREET 1:** 2728 19TH PLACE SOUTH
- **STREET 2:** SUITE 160
- **CITY:** HOMEWOOD
- **STATE:** AL
- **ZIP:** 35209

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Memorial Funds
- **DATE OF NAME CHANGE:** 20060420

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Monteagle Funds
- **DATE OF NAME CHANGE:** 20060420

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MEMORIAL FUNDS
- **DATE OF NAME CHANGE:** 19971208

## Series and Classes Contracts Data

### Monteagle Select Value Fund (Series ID: S000001612)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000004359 | Institutional Class | MVEIX           |

### The Texas Fund (Series ID: S000041935)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000130230 | Class I      | BIGTX           |

### Monteagle Opportunity Equity Fund (Series ID: S000065162)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000210931 | Investor Class      | HEQFX           |
| C000210932 | Institutional Class | HEQCX           |

### Monteagle Enhanced Equity Income Fund (Series ID: S000075200)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000234043 | Institutional Class |  |

?xml version='1.0' encoding='ASCII'? FORM N-CSRS

**united states securities and exchange commission washington, d.c. 20549**

 **form N-CSR certified shareholder report of registered management investment companies**

Investment Company Act file number <u>811-08529</u>

<u>Monteagle Funds</u>

(Exact name of registrant as specified in charter)

<u>2728 19<sup>th</sup> Place South, Suite 160, Homewood, AL 35209</u>

(Address of principal executive offices) (Zip code)

The Corporation Trust Company

<u>Corporation Trust Center, 1209 Orange Street, Wilmington, DE 19801</u>

(Name and address of agent for service)

With copies to:

C. Richard Ropka, Esq.

Law Office of C. Richard Ropka

215 Fries Mill Road

Turnersville, NJ 08012

Registrant's telephone number, including area code: (800)238-7701

Date of fiscal year end: August 31

Date of reporting period: <u>February 28, 2026</u>

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

**Item 1. Reports to Stockholders.**![](image_016.gif)

SEMI-ANNUAL SHAREHOLDER REPORT

**February 28, 2026 (Unaudited)**

MONTEAGLE SELECT VALUE FUND – INSTITUTIONAL CLASS

***MVEIX***

**<u>ADDITIONAL INFORMATION</u>**

This semi-annual shareholder report contains important information about the Monteagle Select Value Fund – MVEIX (the "Fund") for the period September 1, 2025 to February 28, 2026.

You can find additional information about the Fund at https://monteaglefunds.com. You can also request this information by contacting us at 1-888-263-5593.

**<u>expense Information</u>**

**What were the Fund costs for the past six months?**

(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Fund Name | &nbsp;&nbsp;**Costs of a $10,000 investment** | &nbsp;&nbsp;**Costs paid as a percentage of a $10,000 investment\*** |
| &nbsp;&nbsp;Monteagle Select Value Fund - Institutional Class | &nbsp;&nbsp;$75 | &nbsp;&nbsp;1.42% |

---

\*Annualized

**<u>Performance graph</u>**

**AVERAGE ANNUAL RETURNS**

(for the periods ended February 28, 2026)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Five Year** | &nbsp;&nbsp;**Ten Year** | **Dollar Value** |
| **Monteagle Select Value Fund - Institutional Class** | &nbsp;&nbsp;22.72% | &nbsp;&nbsp;8.75% | &nbsp;&nbsp;10.70% | $27631 |
| **S&P 500 Index** | &nbsp;&nbsp;16.99% | &nbsp;&nbsp;14.17% | &nbsp;&nbsp;15.50% | $42224 |

---

**Cumulative Performance Comparison of $10,000 Investment**

**Past performance is not a good predictor of future performance**. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-888-263-5593.

**<u>Fund statistics</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;NET | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;FEES PAID TO |
| &nbsp;&nbsp;ASSETS: | &nbsp;&nbsp;HOLDINGS | &nbsp;&nbsp;TURNOVER | &nbsp;&nbsp;THE ADVISER |
| &nbsp;&nbsp;$19278539 | &nbsp;&nbsp;50 | &nbsp;&nbsp;43.37% | &nbsp;&nbsp;$45162 |

---

**<u>PORTFOLIO ILLUSTRATION</u>**

The following chart gives a visual breakdown of the Fund by the sectors the underlying securities represent as a percentage of the portfolio of investments.

![](image_003.gif)

Sectors are categorized using Global Industry Classification Standard

**<u>top ten holdings</u>**

% of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Federated Hermes Government Obligations Fund - Institutional Class | &nbsp;&nbsp;10.48% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;3.28% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;The Campbell's Co. | &nbsp;&nbsp;3.16% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;2.92% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;2.83% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;2.72% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;2.72% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Fortinet, Inc | &nbsp;&nbsp;2.71% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Qnity Electronics, Inc. | &nbsp;&nbsp;2.66% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Zoetis, Inc | &nbsp;&nbsp;2.62% |
|  | &nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;36.10% |

---

**<u>Householding</u>**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact Monteagle Funds at 1-888-263-5593, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit https://monteaglefunds.com or contact us at 1-888-263-5593.

![](image_016.gif)

SEMI-ANNUAL SHAREHOLDER REPORT

**February 28, 2026 (Unaudited)**

MONTEAGLE OPPORTUNITY EQUITY FUND – INVESTOR CLASS

***HEQFX***

**<u>ADDITIONAL INFORMATION</u>**

This semi-annual shareholder report contains important information about the Monteagle Opportunity Equity Fund – Investor Class – HEQFX (the "Fund") for the period September 1, 2025 to February 28, 2026.

You can find additional information about the Fund at https://monteaglefunds.com. You can also request this information by contacting us at 1-888-263-5593.

**<u>expense Information</u>**

**What were the Fund costs for the past six months?**

(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Fund Name | &nbsp;&nbsp;**Costs of a $10,000 investment** | &nbsp;&nbsp;**Costs paid as a percentage of a $10,000 investment\*** |
| &nbsp;&nbsp;Monteagle Opportunity Equity Fund - Investor Class | &nbsp;&nbsp;$92 | &nbsp;&nbsp;1.77% |

---

\*Annualized

**<u>Performance graph</u>**

**AVERAGE ANNUAL RETURNS**

(for the periods ended February 28, 2026)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Five Year** | &nbsp;&nbsp;**Ten Year** | **Dollar Value** |
| **Monteagle Opportunity Equity Fund – Investor Class** | &nbsp;&nbsp;16.67% | &nbsp;&nbsp;8.85% | &nbsp;&nbsp;10.07% | $26103 |
| **S&P 500 Index** | &nbsp;&nbsp;16.99% | &nbsp;&nbsp;14.17% | &nbsp;&nbsp;15.50% | $42226 |

---

**Cumulative Performance Comparison of $10,000 Investment**

Past performance is not a good predictor of future performance. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-888-263-5593.

**<u>Fund statistics</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;NET | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;FEES PAID TO |
| &nbsp;&nbsp;ASSETS: | &nbsp;&nbsp;HOLDINGS | &nbsp;&nbsp;TURNOVER | &nbsp;&nbsp;THE ADVISER |
| &nbsp;&nbsp;$16664656 | &nbsp;&nbsp;119 | &nbsp;&nbsp;8.45% | &nbsp;&nbsp;$20102 |

---

**<u>PORTFOLIO ILLUSTRATION</u>**

The following chart gives a visual breakdown of the Fund by the sectors the underlying securities represent as a percentage of the portfolio of investments.

![](image_005.gif)

Sectors are categorized using Global Industry Classification Standard.

**<u>top ten holdings</u>**

% of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Landstar System, Inc. | &nbsp;&nbsp;1.67% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Matson, Inc. | &nbsp;&nbsp;1.58% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp;1.46% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Brady Corp. Class A | &nbsp;&nbsp;1.42% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;A.O. Smith Corp. | &nbsp;&nbsp;1.35% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Fluor Corp. | &nbsp;&nbsp;1.32% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Mueller Industries, Inc. | &nbsp;&nbsp;1.30% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;1.27% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;1.25% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Toro Co. | &nbsp;&nbsp;1.23% |
|  | &nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;13.85% |

---

**<u>Householding</u>**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact Monteagle Funds at 1-888-263-5593, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit https://monteaglefunds.com or contact us at 1-888-263-5593.

![](image_016.gif)

SEMI-ANNUAL SHAREHOLDER REPORT

**February 28, 2026 (Unaudited)**

MONTEAGLE OPPORTUNITY EQUITY FUND – INSTITUTIONAL CLASS

***HEQCX***

**<u>ADDITIONAL INFORMATION</u>**

This semi-annual shareholder report contains important information about the Monteagle Opportunity Equity Fund – Institutional Class – HEQCX (the "Fund") for the period September 1, 2025 to February 28, 2026.

You can find additional information about the Fund at https://monteaglefunds.com. You can also request this information by contacting us at 1-888-263-5593.

**<u>expense Information</u>**

**What were the Fund costs for the past six months?**

(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Fund Name | &nbsp;&nbsp;**Costs of a $10,000 investment** | &nbsp;&nbsp;**Costs paid as a percentage of a $10,000 investment\*** |
| &nbsp;&nbsp;Monteagle Opportunity Equity Fund - Institutional Class | &nbsp;&nbsp;$66 | &nbsp;&nbsp;1.27% |

---

\*Annualized

**<u>Performance graph</u>**

**AVERAGE ANNUAL RETURNS**

(for the periods ended February 28, 2026)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Five Year** | &nbsp;&nbsp;**Ten Year** | **Dollar**<br> **Value** |
| **Monteagle Opportunity Equity Fund - Institutional Class** | &nbsp;&nbsp;17.41% | &nbsp;&nbsp;9.40% | &nbsp;&nbsp;10.61% | $2739734 |
| **S&P 500 Index** | &nbsp;&nbsp;16.99% | &nbsp;&nbsp;14.17% | &nbsp;&nbsp;15.50% | $4222438 |

---

**Cumulative Performance Comparison of $1,000,000 Investment**

**Past performance is not a good predictor of future performance**. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-888-263-5593.

**<u>Fund statistics</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;NET | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;FEES PAID TO |
| &nbsp;&nbsp;ASSETS: | &nbsp;&nbsp;HOLDINGS | &nbsp;&nbsp;TURNOVER | &nbsp;&nbsp;THE ADVISER |
| &nbsp;&nbsp;$16664656 | &nbsp;&nbsp;119 | &nbsp;&nbsp;8.45% | &nbsp;&nbsp;$20102 |

---

**<u>PORTFOLIO ILLUSTRATION</u>**

The following chart gives a visual breakdown of the Fund by the sectors the underlying securities represent as a percentage of the portfolio of investments.

![](image_005.gif)

Sectors are categorized using Global Industry Classification Standard.

**<u>top ten holdings</u>**

% of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Landstar System, Inc. | &nbsp;&nbsp;1.67% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Matson, Inc. | &nbsp;&nbsp;1.58% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp;1.46% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Brady Corp. Class A | &nbsp;&nbsp;1.42% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;A.O. Smith Corp. | &nbsp;&nbsp;1.35% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Fluor Corp. | &nbsp;&nbsp;1.32% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Mueller Industries, Inc. | &nbsp;&nbsp;1.30% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;1.27% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;1.25% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Toro Co. | &nbsp;&nbsp;1.23% |
|  | &nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;13.85% |

---

**<u>Householding</u>**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact Monteagle Funds at 1-888-263-5593, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit https://monteaglefunds.com or contact us at 1-888-263-5593.

![](image_016.gif)

SEMI-ANNUAL SHAREHOLDER REPORT

**February 28, 2026 (Unaudited)**

MONTEAGLE ENHANCED EQUITY INCOME FUND – INSTITUTIONAL CLASS

***EEIFX***

**<u>ADDITIONAL INFORMATION</u>**

This semi-annual shareholder report contains important information about the Monteagle Enhanced Equity Income Fund – Institutional Class - EEIFX (the "Fund") for the period September 1, 2025 to February 28, 2026.

You can find additional information about the Fund at https://monteaglefunds.com. You can also request this information by contacting us at 1-888-263-5593.

**<u>expense Information</u>**

**What were the Fund costs for the past six months?**

(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Fund Name | &nbsp;&nbsp;**Costs of a $10,000 investment** | &nbsp;&nbsp;**Costs paid as a percentage of a $10,000 investment\*** |
| &nbsp;&nbsp;Monteagle Enhanced Equity Income Fund - Institutional Class | &nbsp;&nbsp;$67 | &nbsp;&nbsp;1.32% |

---

\*Annualized

**<u>Performance graph</u>**

**AVERAGE ANNUAL RETURNS**

(for the periods ended February 28, 2026)

---

| | | | |
|:---|:---|:---|:---|
| | &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Since Inception\*** | **Dollar Value** |
| **Monteagle Enhanced Equity Income Fund – Institutional Class** | &nbsp;&nbsp;8.53% | &nbsp;&nbsp;11.92% | $14172 |
| **CBOE S&P 500 BuyWrite Monthly Index** | &nbsp;&nbsp;9.38% | &nbsp;&nbsp;12.52% | $14413 |
| **S&P 500 Index** | &nbsp;&nbsp;16.99% | &nbsp;&nbsp;20.63% | $17883 |

---

**Cumulative Performance Comparison of $10,000 Investment**

**\* Inception date: 01/23/2023**

**Past performance is not a good predictor of future performance**. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-888-263-5593.

**<u>Fund statistics</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;NET | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;FEES PAID TO |
| &nbsp;&nbsp;ASSETS: | &nbsp;&nbsp;HOLDINGS | &nbsp;&nbsp;TURNOVER | &nbsp;&nbsp;THE ADVISER |
| &nbsp;&nbsp;$14096582 | &nbsp;&nbsp;40 | &nbsp;&nbsp;48.05% | &nbsp;&nbsp;$21054 |

---

**<u>PORTFOLIO ILLUSTRATION</u>**

The following chart gives a visual breakdown of the Fund by the sectors the underlying securities represent as a percentage of the portfolio of investments.

![](image_011.gif)

Sectors are categorized using Global Industry Classification Standard.

Excludes written options.

**<u>top ten holdings</u>**

% of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;State Street S&P 500 ETF Trust | &nbsp;&nbsp;7.30% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Microsoft Corp. | &nbsp;&nbsp;5.57% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Alphabet, Inc. | &nbsp;&nbsp;5.53% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;4.92% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;NVDIA Corp. | &nbsp;&nbsp;4.40% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Meta Platforms, Inc. | &nbsp;&nbsp;4.14% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Intuitive Surgical, Inc. | &nbsp;&nbsp;3.57% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;3.57% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;3.56% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;3.40% |
|  | &nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;45.96% |

---

**<u>Householding</u>**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact Monteagle Funds at 1-888-263-5593, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit https://monteaglefunds.com or contact us at 1-888-263-5593.

![](image_016.gif)

SEMI-ANNUAL SHAREHOLDER REPORT

**February 28, 2026 (Unaudited)**

THE TEXAS FUND – INSTITUTIONAL CLASS

***BIGTX***

**<u>ADDITIONAL INFORMATION</u>**

This semi-annual shareholder report contains important information about The Texas Fund – Institutional Class – BIGTX (the "Fund") for the period September 1, 2025 to February 28, 2026.

You can find additional information about the Fund at https://monteaglefunds.com. You can also request this information by contacting us at 1-888-263-5593.

**<u>expense Information</u>**

**What were the Fund costs for the past six months?**

(based on a hypothetical $10,000 investment)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;Fund Name | &nbsp;&nbsp;**Costs of a $10,000 investment** | &nbsp;&nbsp;**Costs paid as a percentage of a $10,000 investment\*** |
| &nbsp;&nbsp;The Texas Fund - Institutional Class | &nbsp;&nbsp;$85 | &nbsp;&nbsp;1.63% |

---

\*Annualized

**<u>Performance graph</u>**

**AVERAGE ANNUAL RETURNS**

(for the periods ended February 28, 2026)

---

| | | | | |
|:---|:---|:---|:---|:---|
| | &nbsp;&nbsp;**One Year** | &nbsp;&nbsp;**Five Year** | &nbsp;&nbsp;**Ten Year** | **Dollar Value** |
| **The Texas Fund – Institutional Class** | &nbsp;&nbsp;21.61% | &nbsp;&nbsp;8.78% | &nbsp;&nbsp;10.48% | $27076 |
| **S&P 500 Index** | &nbsp;&nbsp;16.99% | &nbsp;&nbsp;14.17% | &nbsp;&nbsp;15.50% | $42224 |

---

**Cumulative Performance Comparison of $10,000 Investment**

**Past performance is not a good predictor of future performance**. The returns shown do not reflect taxes that a shareholder would pay on Fund distributions or on the redemption of Fund shares. Updated performance data current to the most recent month-end can be obtained by calling 1-888-263-5593.

**<u>Fund statistics</u>**

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;NET | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;PORTFOLIO | &nbsp;&nbsp;FEES PAID TO |
| &nbsp;&nbsp;ASSETS: | &nbsp;&nbsp;HOLDINGS | &nbsp;&nbsp;TURNOVER | &nbsp;&nbsp;THE ADVISER |
| &nbsp;&nbsp;$19216214 | &nbsp;&nbsp;79 | &nbsp;&nbsp;45.34% | &nbsp;&nbsp;$34832 |

---

**<u>PORTFOLIO ILLUSTRATION</u>**

The following chart gives a visual breakdown of the Fund by the sectors the underlying securities represent as a percentage of the portfolio of investments.

![](image_014.gif)

Sectors are categorized using Global Industry Classification Standard

**<u>top ten holdings</u>**

% of Net Assets

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;4.83% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;4.20% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;3.94% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Toyota Motor Corp. ADR | &nbsp;&nbsp;3.68% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Tesla, Inc. | &nbsp;&nbsp;3.63% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;3.59% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;3.53% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;3.35% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;The Charles Schwab Corp. | &nbsp;&nbsp;3.33% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;3.23% |
|  | &nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;37.31% |

---

**<u>Householding</u>**

To reduce Fund expenses, only one copy of most shareholder documents may be mailed to shareholders with multiple accounts at the same address (Householding). If you would prefer that your Fund documents not be householded, please contact Monteagle Funds at 1-888-263-5593, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by the Fund or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit https://monteaglefunds.com or contact us at 1-888-263-5593.

**Item 2. Code of Ethics** Not applicable.

**Item 3. Audit Committee Financial Expert** Not applicable.

**Item 4. Principal Accountant Fees and Services** Not applicable.

**Item 5. Audit Committee of Listed Companies.** Not applicable.

**Item 6. Schedule of Investments.** Schedule filed with Item 7.

**Item 7. Financial Statements and Financial Highlights for Open-End Management Companies.**

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Monteagle Select Value Fund**<br>&nbsp;&nbsp;**Schedule of Investments**<br>&nbsp;&nbsp;**February 28, 2026 (Unaudited)** |  |
| &nbsp;&nbsp;**<u>Shares</u>** |  | &nbsp;&nbsp;**<u>Fair Value</u>** |
| &nbsp;&nbsp;**COMMON STOCKS - 87.73%** | &nbsp;&nbsp;**COMMON STOCKS - 87.73%** |  |
| &nbsp;&nbsp;**Banks - 0.74%** | &nbsp;&nbsp;**Banks - 0.74%** |  |
| &nbsp;&nbsp;2600 | &nbsp;&nbsp;U.S. Bancorp | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;142116 |
| &nbsp;&nbsp;**Capital Goods - 4.46%** | &nbsp;&nbsp;**Capital Goods - 4.46%** |  |
| &nbsp;&nbsp;3000 | &nbsp;&nbsp;Builders FirstSource, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 312870 |
| &nbsp;&nbsp;650 | &nbsp;&nbsp;United Rentals, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 546000 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 858870 |
| &nbsp;&nbsp;**Chemicals - 2.66%** | &nbsp;&nbsp;**Chemicals - 2.66%** |  |
| &nbsp;&nbsp;4050 | &nbsp;&nbsp;Qnity Electronics, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 513378 |
| &nbsp;&nbsp;**Commercial & Professional Services - 2.72%** | &nbsp;&nbsp;**Commercial & Professional Services - 2.72%** |  |
| &nbsp;&nbsp;3000 | &nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;525300 |
| &nbsp;&nbsp;**Consumer Durables & Apparel - 5.76%** | &nbsp;&nbsp;**Consumer Durables & Apparel - 5.76%** |  |
| &nbsp;&nbsp;2400 | &nbsp;&nbsp;D.R. Horton, Inc. | &nbsp;&nbsp;384936 |
| &nbsp;&nbsp;2900 | &nbsp;&nbsp;Deckers Outdoor Corp. \* | &nbsp;&nbsp;340083 |
| &nbsp;&nbsp;6200 | &nbsp;&nbsp;NIKE, Inc. Class B | &nbsp;&nbsp;385516 |
|  |  | &nbsp;&nbsp;1110535 |
| &nbsp;&nbsp;**Consumer Services - 1.04%** | &nbsp;&nbsp;**Consumer Services - 1.04%** |  |
| &nbsp;&nbsp;5400 | &nbsp;&nbsp;Chipotle Mexican Grill, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200988 |
| &nbsp;&nbsp;**Containers & Packaging - 2.84%** | &nbsp;&nbsp;**Containers & Packaging - 2.84%** |  |
| &nbsp;&nbsp;4100 | &nbsp;&nbsp;Ball Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 275233 |
| &nbsp;&nbsp;5800 | &nbsp;&nbsp;Smurfit Westrock PLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 272658 |
|  |  | &nbsp;&nbsp;547891 |
| &nbsp;&nbsp;**Diversified Financials - 2.72%** | &nbsp;&nbsp;**Diversified Financials - 2.72%** |  |
| &nbsp;&nbsp;1000 | &nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 524290 |
| &nbsp;&nbsp;**Financial Services - 3.71%** | &nbsp;&nbsp;**Financial Services - 3.71%** |  |
| &nbsp;&nbsp;700 | &nbsp;&nbsp;Factset Research Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 151767 |
| &nbsp;&nbsp;3000 | &nbsp;&nbsp;Fiserv, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186870 |
| &nbsp;&nbsp;3980 | &nbsp;&nbsp;T Rowe Price Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376627 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 715264 |
| &nbsp;&nbsp;**Food, Beverage & Tobacco - 7.39%** | &nbsp;&nbsp;**Food, Beverage & Tobacco - 7.39%** |  |
| &nbsp;&nbsp;11500 | &nbsp;&nbsp;Conagra Brands, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221375 |
| &nbsp;&nbsp;1834 | &nbsp;&nbsp;J.M. Smucker Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 212652 |
| &nbsp;&nbsp;7900 | &nbsp;&nbsp;Lamb Weston Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 380701 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;22600 | &nbsp;&nbsp;The Campbell's Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 609070 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1423798 |
| &nbsp;&nbsp;**Healthcare Equipment & Services - 2.24%** | &nbsp;&nbsp;**Healthcare Equipment & Services - 2.24%** |  |
| &nbsp;&nbsp;930 | &nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;297600 |
| &nbsp;&nbsp;700 | &nbsp;&nbsp;Humana, Inc. | &nbsp;&nbsp;133378 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 430978 |
| &nbsp;&nbsp;**Household & Personal Products - 4.63%** | &nbsp;&nbsp;**Household & Personal Products - 4.63%** |  |
| &nbsp;&nbsp;12000 | &nbsp;&nbsp;Kenvue, Inc. | &nbsp;&nbsp;229440 |
| &nbsp;&nbsp;1900 | &nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;211736 |
| &nbsp;&nbsp;2700 | &nbsp;&nbsp;Procter & Gamble Co. | &nbsp;&nbsp;451440 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 892616 |
| &nbsp;&nbsp;**Insurance - 3.26%** | &nbsp;&nbsp;**Insurance - 3.26%** |  |
| &nbsp;&nbsp;600 | &nbsp;&nbsp;Everest Group Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201294 |
| &nbsp;&nbsp;2000 | &nbsp;&nbsp;Progressive Corp. | &nbsp;&nbsp;427320 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 628614 |
| &nbsp;&nbsp;**Integrated Oil & Gas - 1.30%** | &nbsp;&nbsp;**Integrated Oil & Gas - 1.30%** |  |
| &nbsp;&nbsp;4730 | &nbsp;&nbsp;Occidental Petroleum Corp. | &nbsp;&nbsp;251068 |
| &nbsp;&nbsp;**Media & Entertainment - 3.09%** | &nbsp;&nbsp;**Media & Entertainment - 3.09%** |  |
| &nbsp;&nbsp;950 | &nbsp;&nbsp;Charter Communications, Inc. Class A \* | &nbsp;&nbsp;222899 |
| &nbsp;&nbsp;4361 | &nbsp;&nbsp;Omnicom Group, Inc. | &nbsp;&nbsp;371950 |
|  |  | &nbsp;&nbsp;594849 |
| &nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 2.14%** | &nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 2.14%** |  |
| &nbsp;&nbsp;13612 | &nbsp;&nbsp;APA Corp. | &nbsp;&nbsp;413397 |
| &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Science - 5.98%** | &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Science - 5.98%** |  |
| &nbsp;&nbsp;4300 | &nbsp;&nbsp;Bristol-Myers Squibb Co. | &nbsp;&nbsp;268191 |
| &nbsp;&nbsp;485 | &nbsp;&nbsp;Regeneron Pharmaceuticals, Inc. | &nbsp;&nbsp;379110 |
| &nbsp;&nbsp;3850 | &nbsp;&nbsp;Zoetis, Inc. | &nbsp;&nbsp;504735 |
|  |  | &nbsp;&nbsp;1152036 |
| &nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 8.14%** | &nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 8.14%** |  |
| &nbsp;&nbsp;1100 | &nbsp;&nbsp;Micron Technology, Inc. | &nbsp;&nbsp;453607 |
| &nbsp;&nbsp;430 | &nbsp;&nbsp;Monolithic Power Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 491378 |
| &nbsp;&nbsp;5550 | &nbsp;&nbsp;ON Semiconductor Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 368964 |
| &nbsp;&nbsp;4296 | &nbsp;&nbsp;Skyworks Solutions, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 255956 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1569905 |
| &nbsp;&nbsp;**Software & Services - 10.94%** | &nbsp;&nbsp;**Software & Services - 10.94%** |  |
| &nbsp;&nbsp;1000 | &nbsp;&nbsp;Adobe Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 262410 |
| &nbsp;&nbsp;3220 | &nbsp;&nbsp;Akamai Technologies, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 316816 |
| &nbsp;&nbsp;2253 | &nbsp;&nbsp;EPAM Systems, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 317673 |
| &nbsp;&nbsp;6600 | &nbsp;&nbsp;Fortinet, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 521598 |
| &nbsp;&nbsp;2400 | &nbsp;&nbsp;PTC, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 375816 |
| &nbsp;&nbsp;2500 | &nbsp;&nbsp;Paycom Software, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314575 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2108888 |
| &nbsp;&nbsp;**Technology Hardware & Equipment - 3.44%** | &nbsp;&nbsp;**Technology Hardware & Equipment - 3.44%** |  |
| &nbsp;&nbsp;5800 | &nbsp;&nbsp;Cisco Systems, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 460868 |
| &nbsp;&nbsp;900 | &nbsp;&nbsp;Zebra Technologies Corp. Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201564 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 662432 |
| &nbsp;&nbsp;**Utilities - 8.53%** | &nbsp;&nbsp;**Utilities - 8.53%** |  |
| &nbsp;&nbsp;36600 | &nbsp;&nbsp;AES Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 632448 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;5900 | &nbsp;&nbsp;Eversource Energy | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 449639 |
| &nbsp;&nbsp;6000 | &nbsp;&nbsp;NextEra Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 562620 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1644707 |
| &nbsp;&nbsp;TOTAL FOR COMMON STOCKS (Cost $15,471,230) - 87.73% | &nbsp;&nbsp;TOTAL FOR COMMON STOCKS (Cost $15,471,230) - 87.73% | &nbsp;&nbsp;16911920 |
| &nbsp;&nbsp;**REAL ESTATE INVESTMENT TRUSTS - 1.80%** | &nbsp;&nbsp;**REAL ESTATE INVESTMENT TRUSTS - 1.80%** |  |
| &nbsp;&nbsp;2300 | &nbsp;&nbsp;Extra Space Storage, Inc. | &nbsp;&nbsp;347369 |
| &nbsp;&nbsp;TOTAL FOR REAL ESTATE INVESTMENT TRUSTS (Cost $304,756) - 1.80% | &nbsp;&nbsp;TOTAL FOR REAL ESTATE INVESTMENT TRUSTS (Cost $304,756) - 1.80% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 347369 |
| &nbsp;&nbsp;**MONEY MARKET FUND - 10.48%** | &nbsp;&nbsp;**MONEY MARKET FUND - 10.48%** |  |
| &nbsp;&nbsp;2020378 | &nbsp;&nbsp;Federated Hermes Government Obligations Fund - Institutional Class, 3.54% \*\* | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 2020378 |
| &nbsp;&nbsp;TOTAL FOR MONEY MARKET FUND (Cost $2,020,378) - 10.48% | &nbsp;&nbsp;TOTAL FOR MONEY MARKET FUND (Cost $2,020,378) - 10.48% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2020378 |
| &nbsp;&nbsp;**TOTAL INVESTMENTS (Cost $17,796,364) - 100.01%** | &nbsp;&nbsp;**TOTAL INVESTMENTS (Cost $17,796,364) - 100.01%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19279667 |
| &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITIES - (0.01)%** | &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITIES - (0.01)%** | &nbsp;&nbsp;(1128) |
| &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;$19278539 |
| &nbsp;&nbsp;\* Non-Income producing. | &nbsp;&nbsp;\* Non-Income producing. |  |
| &nbsp;&nbsp;\*\* 7-day yield as of February 28, 2026. | &nbsp;&nbsp;\*\* 7-day yield as of February 28, 2026. |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund**<br>&nbsp;&nbsp;**Schedule of Investments**<br>&nbsp;&nbsp;**February 28, 2026 (Unaudited)** |  |
| &nbsp;&nbsp;**<u>Shares</u>** |  | &nbsp;&nbsp;**<u>Fair Value</u>** |
| &nbsp;&nbsp;**COMMON STOCKS - 94.45%** | &nbsp;&nbsp;**COMMON STOCKS - 94.45%** |  |
| &nbsp;&nbsp;**Agricultural Products-Livestock & Animal Specialties - 0.94%** | &nbsp;&nbsp;**Agricultural Products-Livestock & Animal Specialties - 0.94%** |  |
| &nbsp;&nbsp;1802 | &nbsp;&nbsp;Cal-Maine Foods, Inc. | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;156972 |
| &nbsp;&nbsp;**Arrangement of Transportation of Freight & Cargo - 1.46%** | &nbsp;&nbsp;**Arrangement of Transportation of Freight & Cargo - 1.46%** |  |
| &nbsp;&nbsp;1314 | &nbsp;&nbsp;C.H. Robinson Worldwide, Inc. | &nbsp;&nbsp;243419 |
| &nbsp;&nbsp;**Banks - 1.63%** | &nbsp;&nbsp;**Banks - 1.63%** |  |
| &nbsp;&nbsp;2633 | &nbsp;&nbsp;Bank OZK | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 122592 |
| &nbsp;&nbsp;1080 | &nbsp;&nbsp;Cullen/Frost Bankers, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 149278 |
|  |  | &nbsp;&nbsp;271870 |
| &nbsp;&nbsp;**Capital Goods - 5.81%** | &nbsp;&nbsp;**Capital Goods - 5.81%** |  |
| &nbsp;&nbsp;2880 | &nbsp;&nbsp;A.O. Smith Corp. | &nbsp;&nbsp;224640 |
| &nbsp;&nbsp;217 | &nbsp;&nbsp;EMCOR Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157243 |
| &nbsp;&nbsp;4214 | &nbsp;&nbsp;Fluor Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 220434 |
| &nbsp;&nbsp;407 | &nbsp;&nbsp;Hubbell, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 208233 |
| &nbsp;&nbsp;2199 | &nbsp;&nbsp;Masco Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157492 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 968042 |
| &nbsp;&nbsp;**Commercial & Professional Services - 0.86%** | &nbsp;&nbsp;**Commercial & Professional Services - 0.86%** |  |
| &nbsp;&nbsp;3774 | &nbsp;&nbsp;Copart, Inc. \* | &nbsp;&nbsp;143752 |
| &nbsp;&nbsp;**Computer Peripheral Equipment - 0.46%** | &nbsp;&nbsp;**Computer Peripheral Equipment - 0.46%** |  |
| &nbsp;&nbsp;972 | &nbsp;&nbsp;Fortinet, Inc. \* | &nbsp;&nbsp;76817 |
| &nbsp;&nbsp;**Consumer Durables & Apparel - 0.95%** | &nbsp;&nbsp;**Consumer Durables & Apparel - 0.95%** |  |
| &nbsp;&nbsp;1150 | &nbsp;&nbsp;PulteGroup, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157780 |
| &nbsp;&nbsp;**Containers & Packaging - 0.85%** | &nbsp;&nbsp;**Containers & Packaging - 0.85%** |  |
| &nbsp;&nbsp;722 | &nbsp;&nbsp;Avery Dennison Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 141765 |
| &nbsp;&nbsp;**Crude Petroleum & Natural Gas - 1.72%** | &nbsp;&nbsp;**Crude Petroleum & Natural Gas - 1.72%** |  |
| &nbsp;&nbsp;3135 | &nbsp;&nbsp;Ovintiv, Inc. | &nbsp;&nbsp;158600 |
| &nbsp;&nbsp;7021 | &nbsp;&nbsp;Permian Resources Corp. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128414 |
|  |  | &nbsp;&nbsp;287014 |
| &nbsp;&nbsp;**Deep Sea Foreign Transportation of Freight - 0.83%** | &nbsp;&nbsp;**Deep Sea Foreign Transportation of Freight - 0.83%** |  |
| &nbsp;&nbsp;4604 | &nbsp;&nbsp;Torm PLC Class A | &nbsp;&nbsp;138719 |
| &nbsp;&nbsp;**Diversified Financials - 0.95%** | &nbsp;&nbsp;**Diversified Financials - 0.95%** |  |
| &nbsp;&nbsp;526 | &nbsp;&nbsp;Cboe Global Markets, Inc. | &nbsp;&nbsp;157653 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Electric Services - 0.90%** | &nbsp;&nbsp;**Electric Services - 0.90%** |  |
| &nbsp;&nbsp;2031 | &nbsp;&nbsp;Black Hills Corp. | &nbsp;&nbsp;149603 |
| &nbsp;&nbsp;**Electric Utilities - 1.96%** | &nbsp;&nbsp;**Electric Utilities - 1.96%** |  |
| &nbsp;&nbsp;3107 | &nbsp;&nbsp;OGE Energy Corp. | &nbsp;&nbsp;152678 |
| &nbsp;&nbsp;2037 | &nbsp;&nbsp;Otter Tail Corp. | &nbsp;&nbsp;173349 |
|  |  | &nbsp;&nbsp;326027 |
| &nbsp;&nbsp;**Electromedical & Electrotherapeutic Apparatus - 0.77%** | &nbsp;&nbsp;**Electromedical & Electrotherapeutic Apparatus - 0.77%** |  |
| &nbsp;&nbsp;9389 | &nbsp;&nbsp;InMode Ltd. \* | &nbsp;&nbsp;129099 |
| &nbsp;&nbsp;**Fire, Marine & Casualty Insurance - 2.39%** | &nbsp;&nbsp;**Fire, Marine & Casualty Insurance - 2.39%** |  |
| &nbsp;&nbsp;1843 | &nbsp;&nbsp;Axis Capital Holdings Ltd. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;194842 |
| &nbsp;&nbsp;673 | &nbsp;&nbsp;Renaissancere Holdings Ltd. | &nbsp;&nbsp;203556 |
|  |  | &nbsp;&nbsp;398398 |
| &nbsp;&nbsp;**Food, Beverage & Tobacco - 0.97%** | &nbsp;&nbsp;**Food, Beverage & Tobacco - 0.97%** |  |
| &nbsp;&nbsp;1381 | &nbsp;&nbsp;Ingredion, Inc. | &nbsp;&nbsp;162212 |
| &nbsp;&nbsp;**Health Care Equipment & Services - 0.76%** | &nbsp;&nbsp;**Health Care Equipment & Services - 0.76%** |  |
| &nbsp;&nbsp;615 | &nbsp;&nbsp;Universal Health Services, Inc. Class B | &nbsp;&nbsp;126751 |
| &nbsp;&nbsp;**Hospital & Medical Service Plans - 1.63%** | &nbsp;&nbsp;**Hospital & Medical Service Plans - 1.63%** |  |
| &nbsp;&nbsp;438 | &nbsp;&nbsp;Elevance Health, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 140160 |
| &nbsp;&nbsp;453 | &nbsp;&nbsp;The Cigna Group | &nbsp;&nbsp;131288 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 271448 |
| &nbsp;&nbsp;**Industrial Instruments for Measurement, Display & Control - 1.12%** | &nbsp;&nbsp;**Industrial Instruments for Measurement, Display & Control - 1.12%** |  |
| &nbsp;&nbsp;3154 | &nbsp;&nbsp;Fortive Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 186717 |
| &nbsp;&nbsp;**Industrial Trucks, Tractors, Trailors & Stackers - 1.27%** | &nbsp;&nbsp;**Industrial Trucks, Tractors, Trailors & Stackers - 1.27%** |  |
| &nbsp;&nbsp;3081 | &nbsp;&nbsp;Terex Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 211942 |
| &nbsp;&nbsp;**Instruments for Measuring & Testing of Electricity & Electrical Signals - 0.53%** | &nbsp;&nbsp;**Instruments for Measuring & Testing of Electricity & Electrical Signals - 0.53%** |  |
| &nbsp;&nbsp;276 | &nbsp;&nbsp;Teradyne, Inc. | &nbsp;&nbsp;88328 |
| &nbsp;&nbsp;**Insurance - 2.26%** | &nbsp;&nbsp;**Insurance - 2.26%** |  |
| &nbsp;&nbsp;1334 | &nbsp;&nbsp;The Hartford Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 187867 |
| &nbsp;&nbsp;610 | &nbsp;&nbsp;The Travelers Cos., Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 188270 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 376137 |
| &nbsp;&nbsp;**Investment Advice - 3.33%** | &nbsp;&nbsp;**Investment Advice - 3.33%** |  |
| &nbsp;&nbsp;432 | &nbsp;&nbsp;Evercore, Inc. Class A | &nbsp;&nbsp;133419 |
| &nbsp;&nbsp;2464 | &nbsp;&nbsp;Moelis & Co. Class A | &nbsp;&nbsp;146263 |
| &nbsp;&nbsp;1659 | &nbsp;&nbsp;T. Rowe Price Group, Inc. | &nbsp;&nbsp;156991 |
| &nbsp;&nbsp;2285 | &nbsp;&nbsp;The Carlyle Group, Inc. | &nbsp;&nbsp;118797 |
|  |  | &nbsp;&nbsp;555470 |
| &nbsp;&nbsp;**In Vitro & In Vivo Diagnostic Substances - 0.66%** | &nbsp;&nbsp;**In Vitro & In Vivo Diagnostic Substances - 0.66%** |  |
| &nbsp;&nbsp;167 | &nbsp;&nbsp;Idexx Laboratories, Inc. \* | &nbsp;&nbsp;109674 |
| &nbsp;&nbsp;**Lawn & Garden Tractors & Home Lawn & Garden Equipment - 1.23%** | &nbsp;&nbsp;**Lawn & Garden Tractors & Home Lawn & Garden Equipment - 1.23%** |  |
| &nbsp;&nbsp;2074 | &nbsp;&nbsp;Toro Co. | &nbsp;&nbsp;205036 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Malt Beverages - 0.77%** | &nbsp;&nbsp;**Malt Beverages - 0.77%** |  |
| &nbsp;&nbsp;2605 | &nbsp;&nbsp;Molson Coors Beverage Co. Class B | &nbsp;&nbsp;127619 |
| &nbsp;&nbsp;**Media & Entertainment - 0.26%** | &nbsp;&nbsp;**Media & Entertainment - 0.26%** |  |
| &nbsp;&nbsp;1497 | &nbsp;&nbsp;Warner Music Group Corp. Class A | &nbsp;&nbsp;42814 |
| &nbsp;&nbsp;**Metals & Mining - 1.05%** | &nbsp;&nbsp;**Metals & Mining - 1.05%** |  |
| &nbsp;&nbsp;699 | &nbsp;&nbsp;Agnico Eagle Mines Ltd. (Canada) | &nbsp;&nbsp;175868 |
| &nbsp;&nbsp;**Mineral Royalty Traders - 0.81%** | &nbsp;&nbsp;**Mineral Royalty Traders - 0.81%** |  |
| &nbsp;&nbsp;448 | &nbsp;&nbsp;Royal Gold, Inc. | &nbsp;&nbsp;134306 |
| &nbsp;&nbsp;**Miscellaneous Manufacturing Industries - 1.42%** | &nbsp;&nbsp;**Miscellaneous Manufacturing Industries - 1.42%** |  |
| &nbsp;&nbsp;2571 | &nbsp;&nbsp;Brady Corp. Class A | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;237406 |
| &nbsp;&nbsp;**Motor Vehicle Parts & Accessories - 0.88%** | &nbsp;&nbsp;**Motor Vehicle Parts & Accessories - 0.88%** |  |
| &nbsp;&nbsp;1537 | &nbsp;&nbsp;Visteon Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 147045 |
| &nbsp;&nbsp;**National Commercial Banks - 1.89%** | &nbsp;&nbsp;**National Commercial Banks - 1.89%** |  |
| &nbsp;&nbsp;752 | &nbsp;&nbsp;PNC Financial Services Group, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 159687 |
| &nbsp;&nbsp;2838 | &nbsp;&nbsp;U.S. Bancorp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 155125 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 314812 |
| &nbsp;&nbsp;**Natural Gas Distribution - 0.86%** | &nbsp;&nbsp;**Natural Gas Distribution - 0.86%** |  |
| &nbsp;&nbsp;1568 | &nbsp;&nbsp;National Fuel Gas Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 142735 |
| &nbsp;&nbsp;**Natural Gas Transmission - 0.82%** | &nbsp;&nbsp;**Natural Gas Transmission - 0.82%** |  |
| &nbsp;&nbsp;3864 | &nbsp;&nbsp;Archrock, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 136515 |
| &nbsp;&nbsp;**Oil & Gas Services - 0.76%** | &nbsp;&nbsp;**Oil & Gas Services - 0.76%** |  |
| &nbsp;&nbsp;2463 | &nbsp;&nbsp;SLB Ltd. | &nbsp;&nbsp;126450 |
| &nbsp;&nbsp;**Operative Builders - 0.24%** | &nbsp;&nbsp;**Operative Builders - 0.24%** |  |
| &nbsp;&nbsp;530 | &nbsp;&nbsp;Meritage Homes Corp. | &nbsp;&nbsp;39973 |
| &nbsp;&nbsp;**Perfumes, Cosmetics & Other Toilet Preparations - 0.77%** | &nbsp;&nbsp;**Perfumes, Cosmetics & Other Toilet Preparations - 0.77%** |  |
| &nbsp;&nbsp;1280 | &nbsp;&nbsp;Interparfums, Inc. | &nbsp;&nbsp;128998 |
| &nbsp;&nbsp;**Petroleum Refining - 0.88%** | &nbsp;&nbsp;**Petroleum Refining - 0.88%** |  |
| &nbsp;&nbsp;4900 | &nbsp;&nbsp;Equinor ASA ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 146167 |
| &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Science - 1.79%** | &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Science - 1.79%** |  |
| &nbsp;&nbsp;4393 | &nbsp;&nbsp;Alkermes PLC \* | &nbsp;&nbsp;132229 |
| &nbsp;&nbsp;330 | &nbsp;&nbsp;United Therapeutics Corp. \* | &nbsp;&nbsp;166287 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 298516 |
| &nbsp;&nbsp;**Plastic Materials, Synthetic Resins & Nonvulcan Elastomers - 0.75%** | &nbsp;&nbsp;**Plastic Materials, Synthetic Resins & Nonvulcan Elastomers - 0.75%** |  |
| &nbsp;&nbsp;1663 | &nbsp;&nbsp;Eastman Chemical Co. | &nbsp;&nbsp;125573 |
| &nbsp;&nbsp;**Printed Circuit Boards - 1.91%** | &nbsp;&nbsp;**Printed Circuit Boards - 1.91%** |  |
| &nbsp;&nbsp;225 | &nbsp;&nbsp;Celestica, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;62467 |
| &nbsp;&nbsp;2387 | &nbsp;&nbsp;CTS Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125699 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;668 | &nbsp;&nbsp;Plexus Corp. \* | &nbsp;&nbsp;129679 |
|  |  | &nbsp;&nbsp;317845 |
| &nbsp;&nbsp;**Pumps & Pumping Equipment - 1.09%** | &nbsp;&nbsp;**Pumps & Pumping Equipment - 1.09%** |  |
| &nbsp;&nbsp;1927 | &nbsp;&nbsp;Graco, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180984 |
| &nbsp;&nbsp;**Radio & TV Broadcasting & Communications Equipment - 0.64%** | &nbsp;&nbsp;**Radio & TV Broadcasting & Communications Equipment - 0.64%** |  |
| &nbsp;&nbsp;13874 | &nbsp;&nbsp;Nokia Corp. | &nbsp;&nbsp;107107 |
| &nbsp;&nbsp;**Radio Telephone Communications - 0.27%** | &nbsp;&nbsp;**Radio Telephone Communications - 0.27%** |  |
| &nbsp;&nbsp;3261 | &nbsp;&nbsp;TELUS Corp. | &nbsp;&nbsp;44806 |
| &nbsp;&nbsp;**Railroads, Line-Haul Operating - 1.07%** | &nbsp;&nbsp;**Railroads, Line-Haul Operating - 1.07%** |  |
| &nbsp;&nbsp;2028 | &nbsp;&nbsp;Canadian Pacific Kansas City Ltd. (Canada) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177632 |
| &nbsp;&nbsp;**Real Estate - 0.68%** | &nbsp;&nbsp;**Real Estate - 0.68%** |  |
| &nbsp;&nbsp;2132 | &nbsp;&nbsp;Innovative Industrial Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 112911 |
| &nbsp;&nbsp;**Real Estate Management & Development - 0.96%** | &nbsp;&nbsp;**Real Estate Management & Development - 0.96%** |  |
| &nbsp;&nbsp;505 | &nbsp;&nbsp;Jones Lang Lasalle, Inc. \* | &nbsp;&nbsp;159353 |
| &nbsp;&nbsp;**Refuse Systems - 0.93%** | &nbsp;&nbsp;**Refuse Systems - 0.93%** |  |
| &nbsp;&nbsp;899 | &nbsp;&nbsp;Waste Connections, Inc. | &nbsp;&nbsp;154745 |
| &nbsp;&nbsp;**Retail-Catalog & Mail-Order Houses - 0.52%** | &nbsp;&nbsp;**Retail-Catalog & Mail-Order Houses - 0.52%** |  |
| &nbsp;&nbsp;4577 | &nbsp;&nbsp;Coupang, Inc. Class A \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87329 |
| &nbsp;&nbsp;**Retail-Eating Places - 2.96%** | &nbsp;&nbsp;**Retail-Eating Places - 2.96%** |  |
| &nbsp;&nbsp;3520 | &nbsp;&nbsp;Chipotle Mexican Grill, Inc. \* | &nbsp;&nbsp;131014 |
| &nbsp;&nbsp;886 | &nbsp;&nbsp;Darden Restaurants, Inc. | &nbsp;&nbsp;189471 |
| &nbsp;&nbsp;3153 | &nbsp;&nbsp;Yum China Holdings, Inc. (China) | &nbsp;&nbsp;173131 |
|  |  | &nbsp;&nbsp;493616 |
| &nbsp;&nbsp;**Retail-Family Clothing Stores - 1.85%** | &nbsp;&nbsp;**Retail-Family Clothing Stores - 1.85%** |  |
| &nbsp;&nbsp;1378 | &nbsp;&nbsp;Abercrombie & Fitch Co. \* | &nbsp;&nbsp;134768 |
| &nbsp;&nbsp;840 | &nbsp;&nbsp;Ross Stores, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 172738 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 307506 |
| &nbsp;&nbsp;**Retail-Grocery Stores - 0.58%** | &nbsp;&nbsp;**Retail-Grocery Stores - 0.58%** |  |
| &nbsp;&nbsp;1308 | &nbsp;&nbsp;Sprouts Farmers Market, Inc. \* | &nbsp;&nbsp;96622 |
| &nbsp;&nbsp;**Retail-Home Furniture, Furnishings & Equipment Stores - 0.92%** | &nbsp;&nbsp;**Retail-Home Furniture, Furnishings & Equipment Stores - 0.92%** |  |
| &nbsp;&nbsp;746 | &nbsp;&nbsp;Williams-Sonoma, Inc. | &nbsp;&nbsp;153415 |
| &nbsp;&nbsp;**Retail-Jewelry Stores - 0.99%** | &nbsp;&nbsp;**Retail-Jewelry Stores - 0.99%** |  |
| &nbsp;&nbsp;1718 | &nbsp;&nbsp;Signet Jewelers Ltd. (Bermuda) | &nbsp;&nbsp;165254 |
| &nbsp;&nbsp;**Retail-Retail Stores - 0.83%** | &nbsp;&nbsp;**Retail-Retail Stores - 0.83%** |  |
| &nbsp;&nbsp;5247 | &nbsp;&nbsp;JD.Com, Inc. ADR \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 139203 |
| &nbsp;&nbsp;**Rolling Drawing & Extruding Of Nonferrous Metals - 1.30%** | &nbsp;&nbsp;**Rolling Drawing & Extruding Of Nonferrous Metals - 1.30%** |  |
| &nbsp;&nbsp;1830 | &nbsp;&nbsp;Mueller Industries, Inc. | &nbsp;&nbsp;215867 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Rubber & Plastic Footwear - 0.94%** | &nbsp;&nbsp;**Rubber & Plastic Footwear - 0.94%** |  |
| &nbsp;&nbsp;1342 | &nbsp;&nbsp;Deckers Outdoor Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 157376 |
| &nbsp;&nbsp;**Search, Detection, Navigation, Guidance, Aeronautical Systems - 2.01%** | &nbsp;&nbsp;**Search, Detection, Navigation, Guidance, Aeronautical Systems - 2.01%** |  |
| &nbsp;&nbsp;559 | &nbsp;&nbsp;Garmin Ltd. | &nbsp;&nbsp;141332 |
| &nbsp;&nbsp;1848 | &nbsp;&nbsp;Nextpower, Inc. | &nbsp;&nbsp;194225 |
|  |  | &nbsp;&nbsp;335557 |
| &nbsp;&nbsp;**Security Brokers, Dealers & Flotation Companies - 0.84%** | &nbsp;&nbsp;**Security Brokers, Dealers & Flotation Companies - 0.84%** |  |
| &nbsp;&nbsp;1962 | &nbsp;&nbsp;A10 Networks, Inc. | &nbsp;&nbsp;139675 |
| &nbsp;&nbsp;**Semiconductors & Related Devices - 1.77%** | &nbsp;&nbsp;**Semiconductors & Related Devices - 1.77%** |  |
| &nbsp;&nbsp;2158 | &nbsp;&nbsp;Enphase Energy, Inc. \* | &nbsp;&nbsp;91219 |
| &nbsp;&nbsp;1530 | &nbsp;&nbsp;On Semiconductor Corp. \* | &nbsp;&nbsp;101714 |
| &nbsp;&nbsp;815 | &nbsp;&nbsp;Tower Semiconductor Ltd. (Israel) \* | &nbsp;&nbsp;101769 |
|  |  | &nbsp;&nbsp;294702 |
| &nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 0.54%** | &nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 0.54%** |  |
| &nbsp;&nbsp;635 | &nbsp;&nbsp;Cirrus Logic, Inc. \* | &nbsp;&nbsp;89611 |
| &nbsp;&nbsp;**Services-Business Services - 0.66%** | &nbsp;&nbsp;**Services-Business Services - 0.66%** |  |
| &nbsp;&nbsp;2374 | &nbsp;&nbsp;PayPal Holdings, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;109703 |
| &nbsp;&nbsp;**Services-Computer Integrated Systems Design - 1.34%** | &nbsp;&nbsp;**Services-Computer Integrated Systems Design - 1.34%** |  |
| &nbsp;&nbsp;849 | &nbsp;&nbsp;Leidos Holdings, Inc. | &nbsp;&nbsp;148660 |
| &nbsp;&nbsp;6769 | &nbsp;&nbsp;OneSpan, Inc. | &nbsp;&nbsp;74730 |
|  |  | &nbsp;&nbsp;223390 |
| &nbsp;&nbsp;**Services-Computer Processing & Data Preparation - 1.48%** | &nbsp;&nbsp;**Services-Computer Processing & Data Preparation - 1.48%** |  |
| &nbsp;&nbsp;3793 | &nbsp;&nbsp;Toast, Inc. Class A \* | &nbsp;&nbsp;103587 |
| &nbsp;&nbsp;689 | &nbsp;&nbsp;Verisk Analytics, Inc. | &nbsp;&nbsp;143016 |
|  |  | &nbsp;&nbsp;246603 |
| &nbsp;&nbsp;**Services-Computer Programming, Data Processing, Etc. - 0.75%** | &nbsp;&nbsp;**Services-Computer Programming, Data Processing, Etc. - 0.75%** |  |
| &nbsp;&nbsp;2370 | &nbsp;&nbsp;Everquote, Inc. Class A \* | &nbsp;&nbsp;37446 |
| &nbsp;&nbsp;1182 | &nbsp;&nbsp;Zoom Communications, Inc. Class A \* | &nbsp;&nbsp;87397 |
|  |  | &nbsp;&nbsp;124843 |
| &nbsp;&nbsp;**Services-Management Consulting Services - 0.41%** | &nbsp;&nbsp;**Services-Management Consulting Services - 0.41%** |  |
| &nbsp;&nbsp;4962 | &nbsp;&nbsp;The Hackett Group, Inc. | &nbsp;&nbsp;67781 |
| &nbsp;&nbsp;**Services-Prepackaged Software - 2.09%** | &nbsp;&nbsp;**Services-Prepackaged Software - 2.09%** |  |
| &nbsp;&nbsp;1405 | &nbsp;&nbsp;Docusign, Inc. \* | &nbsp;&nbsp;63323 |
| &nbsp;&nbsp;757 | &nbsp;&nbsp;Nice Ltd. ADR \* | &nbsp;&nbsp;88001 |
| &nbsp;&nbsp;978 | &nbsp;&nbsp;Procore Technologies, Inc. \* | &nbsp;&nbsp;53829 |
| &nbsp;&nbsp;12672 | &nbsp;&nbsp;Sprinklr, Inc. Class A \* | &nbsp;&nbsp;73751 |
| &nbsp;&nbsp;384 | &nbsp;&nbsp;Veeva Systems, Inc. Class A \* | &nbsp;&nbsp;69892 |
|  |  | &nbsp;&nbsp;348796 |
| &nbsp;&nbsp;**Software & Services - 2.44%** | &nbsp;&nbsp;**Software & Services - 2.44%** |  |
| &nbsp;&nbsp;5515 | &nbsp;&nbsp;A10 Networks, Inc. | &nbsp;&nbsp;106219 |
| &nbsp;&nbsp;973 | &nbsp;&nbsp;Amdocs Ltd. | &nbsp;&nbsp;67915 |
| &nbsp;&nbsp;1415 | &nbsp;&nbsp;Dolby Laboratories, Inc. Class A | &nbsp;&nbsp;94197 |
| &nbsp;&nbsp;13065 | &nbsp;&nbsp;PagSeguro Digital Ltd. Class A (Brazil) | &nbsp;&nbsp;138620 |
|  |  | &nbsp;&nbsp;406951 |
| &nbsp;&nbsp;**Sporting & Athletic Goods - 1.97%** | &nbsp;&nbsp;**Sporting & Athletic Goods - 1.97%** |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1666 | &nbsp;&nbsp;Acushnet Holdings Corp. | &nbsp;&nbsp;170482 |
| &nbsp;&nbsp;3616 | &nbsp;&nbsp;YETI Holdings, Inc. \* | &nbsp;&nbsp;158055 |
|  |  | &nbsp;&nbsp;328537 |
| &nbsp;&nbsp;**State Commercial Banks - 0.98%** | &nbsp;&nbsp;**State Commercial Banks - 0.98%** |  |
| &nbsp;&nbsp;3302 | &nbsp;&nbsp;Fifth Third Bancorp. | &nbsp;&nbsp;163350 |
| &nbsp;&nbsp;**Steel Works, Blast Furnaces & Rolling & Finishing Mills - 1.20%** | &nbsp;&nbsp;**Steel Works, Blast Furnaces & Rolling & Finishing Mills - 1.20%** |  |
| &nbsp;&nbsp;4812 | &nbsp;&nbsp;Worthington Steel, Inc. | &nbsp;&nbsp;199987 |
| &nbsp;&nbsp;**Surgical & Medical Instruments & Apparatus - 1.46%** | &nbsp;&nbsp;**Surgical & Medical Instruments & Apparatus - 1.46%** |  |
| &nbsp;&nbsp;1099 | &nbsp;&nbsp;TeleFlex, Inc. | &nbsp;&nbsp;134144 |
| &nbsp;&nbsp;427 | &nbsp;&nbsp;Resmed, Inc. | &nbsp;&nbsp;109423 |
|  |  | &nbsp;&nbsp;243567 |
| &nbsp;&nbsp;**Tobacco - 1.02%** | &nbsp;&nbsp;**Tobacco - 1.02%** |  |
| &nbsp;&nbsp;1235 | &nbsp;&nbsp;Turning Point Brands, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 169183 |
| &nbsp;&nbsp;**Transportation - 1.67%** | &nbsp;&nbsp;**Transportation - 1.67%** |  |
| &nbsp;&nbsp;1709 | &nbsp;&nbsp;Landstar System, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 278482 |
| &nbsp;&nbsp;**Transportation Services - 0.78%** | &nbsp;&nbsp;**Transportation Services - 0.78%** |  |
| &nbsp;&nbsp;603 | &nbsp;&nbsp;Expedia Group, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 130061 |
| &nbsp;&nbsp;**Water Supply - 0.83%** | &nbsp;&nbsp;**Water Supply - 0.83%** |  |
| &nbsp;&nbsp;1857 | &nbsp;&nbsp;American States Water Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;138402 |
| &nbsp;&nbsp;**Water Transportation - 1.58%** | &nbsp;&nbsp;**Water Transportation - 1.58%** |  |
| &nbsp;&nbsp;1589 | &nbsp;&nbsp;Matson, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 263981 |
| &nbsp;&nbsp;TOTAL FOR COMMON STOCKS (Cost $13,503,507) - 94.45% | &nbsp;&nbsp;TOTAL FOR COMMON STOCKS (Cost $13,503,507) - 94.45% | &nbsp;&nbsp;15740175 |
| &nbsp;&nbsp;**REAL ESTATE INVESTMENT TRUSTS - 5.19%** | &nbsp;&nbsp;**REAL ESTATE INVESTMENT TRUSTS - 5.19%** |  |
| &nbsp;&nbsp;3764 | &nbsp;&nbsp;CubeSmart | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154851 |
| &nbsp;&nbsp;3272 | &nbsp;&nbsp;Gaming & Leisure Properties, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160034 |
| &nbsp;&nbsp;3608 | &nbsp;&nbsp;Kilroy Realty Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 107591 |
| &nbsp;&nbsp;887 | &nbsp;&nbsp;Mid-America Apartment Communities, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 118734 |
| &nbsp;&nbsp;3611 | &nbsp;&nbsp;NNN Reit, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163650 |
| &nbsp;&nbsp;2153 | &nbsp;&nbsp;W.P. Carey, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 160721 |
| &nbsp;&nbsp;TOTAL FOR REAL ESTATE INVESTMENT TRUSTS (Cost $829,127) - 5.19% | &nbsp;&nbsp;TOTAL FOR REAL ESTATE INVESTMENT TRUSTS (Cost $829,127) - 5.19% | &nbsp;&nbsp;865581 |
| &nbsp;&nbsp;**MONEY MARKET FUND - 0.53%** | &nbsp;&nbsp;**MONEY MARKET FUND - 0.53%** |  |
| &nbsp;&nbsp;87641 | &nbsp;&nbsp;Federated Hermes Government Obligations Fund - Institutional Class, 3.54% \*\* | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87641 |
| &nbsp;&nbsp;TOTAL FOR MONEY MARKET FUND (Cost $87,641) - 0.53% | &nbsp;&nbsp;TOTAL FOR MONEY MARKET FUND (Cost $87,641) - 0.53% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87641 |
| &nbsp;&nbsp;**TOTAL INVESTMENTS (Cost $14,420,275) - 100.17%** | &nbsp;&nbsp;**TOTAL INVESTMENTS (Cost $14,420,275) - 100.17%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16693397 |
| &nbsp;&nbsp;**LIABILITIES IN EXCESS OF OTHER ASSETS - (0.17)%** | &nbsp;&nbsp;**LIABILITIES IN EXCESS OF OTHER ASSETS - (0.17)%** | &nbsp;&nbsp;(28741) |
| &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;$16664656 |

---

---

| |
|:---|
| &nbsp;&nbsp;\* Non-Income producing. |
| &nbsp;&nbsp;\*\* 7-day yield as of February 28, 2026. |
| &nbsp;&nbsp;NV - Naamloze Vennootschap, a Dutch term for public limited company. |
| &nbsp;&nbsp;PLC - Public Limited Company |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |

---

**Computer & Office Equipment - 1.36%** 

**Computer Peripheral Equipment - 3.17%** 

**Crude Petroleum & Natural Gas - 2.90%** 

**Data & Transaction Processing- 0.88%** 

**Defense Primes - 3.29%** 

**Diversified Banks - 3.18%** 

**Diversified Financials - 2.22%** 

**Food, Beverage & Tobacco - 2.89%** 

**Healthcare Equipment & Services - 2.29%** 

**Internet - 5.53%** 

**Internet Media & Services - 2.05%** 

**Medical Devices - 2.45%** 

**Oil & Gas Storage & Transportation - 2.43%** 

**Oil, Gas & Consumable Fuels - 3.57%** 

**Pharmaceutical Preparations - 2.32%** 

**Radio & Tv Broadcasting & Communications - 2.02%** 

**Retail-Apparel & Specialty - 3.28%** 

**Semiconductors - 3.40%** 

**Semiconductors & Related Devices - 4.40%** 

**Services-Computer Programming, Data Processing, Etc. - 4.14%** 

**Services-Miscellaneous Amusement & Recreation - 1.93%** 

**Services-Business Services - 2.96%** 

**Software & Services - 13.24%** 

**State Commercial Banks - 2.81%** 

**Surgical & Medical Instruments & Apparatus - 3.57%** 

**Technology Hardware & Equipment - 3.56%** 

TOTAL FOR COMMON STOCKS (Cost $11,860,082) - 85.84% 12,106,908

TOTAL FOR EXCHANGE TRADED FUND (Cost $1,035,212) - 7.30% &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,028,985

TOTAL FOR MONEY MARKET FUND (Cost $305,186) - 2.16% &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 305,186

(a) Subject to written option contracts. 

\* Non-Income producing. 

\*\* 7-day yield as of February 28, 2026. 

● All or a portion of this security is held as collateral for written options. 

Total value of collateral for written options is $7,658,139 representing 54.33% of net assets. 

ETF - Exchange Traded Fund 

PLC - Public Limited Company 

*The accompanying notes are an integral part of these financial statements.* 

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** |
| &nbsp;&nbsp;**Schedule of Written Options** | &nbsp;&nbsp;**Schedule of Written Options** | &nbsp;&nbsp;**Schedule of Written Options** | &nbsp;&nbsp;**Schedule of Written Options** | &nbsp;&nbsp;**Schedule of Written Options** | &nbsp;&nbsp;**Schedule of Written Options** | &nbsp;&nbsp;**Schedule of Written Options** |
| &nbsp;&nbsp;**February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**February 28, 2026 (Unaudited)** |
| &nbsp;&nbsp;**WRITTEN OPTIONS - (0.19)%** |  |  |  |  |  |  |
| &nbsp;&nbsp;**CALL OPTIONS - (0.19)% \*** |  |  |  |  |  |  |
| &nbsp;&nbsp;**<u>Underlying Security</u>** | &nbsp;&nbsp;**<u>Counterparty</u>** | &nbsp;&nbsp;**<u>Contracts +</u>** | &nbsp;&nbsp;**<u>Notional Amount\*\*</u>** | &nbsp;&nbsp;**<u>Exercise Price</u>** | &nbsp;&nbsp;**<u>Expiration</u>** | &nbsp;&nbsp;**<u>Fair Value</u>** |
| &nbsp;&nbsp;Amazon.com, Inc. | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(33) | &nbsp;&nbsp;(759000) | &nbsp;&nbsp;230.00 | &nbsp;&nbsp;3/27/2026 | &nbsp;&nbsp; (4620) |
| &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(19) | &nbsp;&nbsp;(551000) | &nbsp;&nbsp;290.00 | &nbsp;&nbsp;3/20/2026 | &nbsp;&nbsp; (665) |
| &nbsp;&nbsp;Broadcom, Inc. | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) | &nbsp;&nbsp;(540000) | &nbsp;&nbsp;360.00 | &nbsp;&nbsp;3/27/2026 | &nbsp;&nbsp;(11325) |
| &nbsp;&nbsp;General Dynamics Corp. | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(13) | &nbsp;&nbsp;(494000) | &nbsp;&nbsp;380.00 | &nbsp;&nbsp;3/20/2026 | &nbsp;&nbsp; (3250) |
| &nbsp;&nbsp;Intuitive Surgical, Inc. • | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) | &nbsp;&nbsp;(575000) | &nbsp;&nbsp;575.00 | &nbsp;&nbsp;3/6/2026 | &nbsp;&nbsp; (4800) |
| &nbsp;&nbsp;Meta Platforms, Inc. | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(9) | &nbsp;&nbsp;(675000) | &nbsp;&nbsp;750.00 | &nbsp;&nbsp;3/13/2026 | &nbsp;&nbsp; (162) |
| &nbsp;&nbsp;NVIDIA Corp. | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(15) | &nbsp;&nbsp;(300000) | &nbsp;&nbsp;200.00 | &nbsp;&nbsp;3/13/2026 | &nbsp;&nbsp; (900) |
| &nbsp;&nbsp;Salesforce.com, Inc. • | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(20) | &nbsp;&nbsp;(520000) | &nbsp;&nbsp;260.00 | &nbsp;&nbsp;3/6/2026 | &nbsp;&nbsp; (40) |
| &nbsp;&nbsp;State Street SPDR S&P 500 ETF Trust | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(10) | &nbsp;&nbsp;(710000) | &nbsp;&nbsp;710.00 | &nbsp;&nbsp;3/6/2026 | &nbsp;&nbsp; (20) |
| &nbsp;&nbsp;State Street SPDR S&P 500 ETF Trust | &nbsp;&nbsp;Interactive Brokers, LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(5) | &nbsp;&nbsp;(357000) | &nbsp;&nbsp;714.00 | &nbsp;&nbsp;4/17/2026 | &nbsp;&nbsp; (1715) |
| &nbsp;&nbsp;Total Call Options (Premiums Received $67,952) - (0.19)% | &nbsp;&nbsp;Total Call Options (Premiums Received $67,952) - (0.19)% |  |  |  |  | &nbsp;&nbsp;(27497) |
| &nbsp;&nbsp;**TOTAL WRITEN OPTIONS (Premiums Received $67,952) - (0.19)%** | &nbsp;&nbsp;**TOTAL WRITEN OPTIONS (Premiums Received $67,952) - (0.19)%** | &nbsp;&nbsp;**TOTAL WRITEN OPTIONS (Premiums Received $67,952) - (0.19)%** |  |  |  | &nbsp;&nbsp; **$(27497)** |
| &nbsp;&nbsp;\* Non-income producing securities during the period. | &nbsp;&nbsp;\* Non-income producing securities during the period. |  |  |  |  |  |
| &nbsp;&nbsp;\*\*The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at February 28, 2026. | &nbsp;&nbsp;\*\*The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at February 28, 2026. | &nbsp;&nbsp;\*\*The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at February 28, 2026. | &nbsp;&nbsp;\*\*The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at February 28, 2026. | &nbsp;&nbsp;\*\*The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at February 28, 2026. | &nbsp;&nbsp;\*\*The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at February 28, 2026. | &nbsp;&nbsp;\*\*The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at February 28, 2026. |
| &nbsp;&nbsp;+ Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. | &nbsp;&nbsp;+ Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. | &nbsp;&nbsp;+ Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. | &nbsp;&nbsp;+ Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. | &nbsp;&nbsp;+ Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. | &nbsp;&nbsp;+ Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security. |  |
| &nbsp;&nbsp;• Level 2 security. |  |  |  |  |  |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**The Texas Fund**<br>&nbsp;&nbsp;**Schedule of Investments**<br>&nbsp;&nbsp;**February 28, 2026 (Unaudited)** |  |
| &nbsp;&nbsp;**<u>Shares</u>** |  | &nbsp;&nbsp;**<u>Fair Value</u>** |
| &nbsp;&nbsp;**COMMON STOCKS - 97.66%** | &nbsp;&nbsp;**COMMON STOCKS - 97.66%** |  |
| &nbsp;&nbsp;**Automobiles - 3.63%** | &nbsp;&nbsp;**Automobiles - 3.63%** |  |
| &nbsp;&nbsp;1733 | &nbsp;&nbsp;Tesla, Inc. \* | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;697550 |
| &nbsp;&nbsp;**Automobiles & Components - 3.68%** | &nbsp;&nbsp;**Automobiles & Components - 3.68%** |  |
| &nbsp;&nbsp;2915 | &nbsp;&nbsp;Toyota Motor Corp. ADR | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 706538 |
| &nbsp;&nbsp;**Banks - 0.78%** | &nbsp;&nbsp;**Banks - 0.78%** |  |
| &nbsp;&nbsp;2450 | &nbsp;&nbsp;First Financial Bankshares, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;75778 |
| &nbsp;&nbsp;775 | &nbsp;&nbsp;Texas Capital Bancshares, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73858 |
|  |  | &nbsp;&nbsp;149636 |
| &nbsp;&nbsp;**Capital Goods - 17.57%** | &nbsp;&nbsp;**Capital Goods - 17.57%** |  |
| &nbsp;&nbsp;780 | &nbsp;&nbsp;Builders FirstSource, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;81346 |
| &nbsp;&nbsp;1250 | &nbsp;&nbsp;Caterpillar, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 928538 |
| &nbsp;&nbsp;228 | &nbsp;&nbsp;Comfort Systems USA, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 325896 |
| &nbsp;&nbsp;364 | &nbsp;&nbsp;IES Holdings, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180307 |
| &nbsp;&nbsp;540 | &nbsp;&nbsp;Jacobs Solutions Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;74444 |
| &nbsp;&nbsp;2242 | &nbsp;&nbsp;Kratos Defense & Security Solutions, Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 193216 |
| &nbsp;&nbsp;195 | &nbsp;&nbsp;Lennox International, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 111138 |
| &nbsp;&nbsp;677 | &nbsp;&nbsp;Lockheed Martin Corp. | &nbsp;&nbsp;445520 |
| &nbsp;&nbsp;8722 | &nbsp;&nbsp;NOW, Inc. \* | &nbsp;&nbsp;102745 |
| &nbsp;&nbsp;444 | &nbsp;&nbsp;Powell Industries, Inc. | &nbsp;&nbsp;232478 |
| &nbsp;&nbsp;5280 | &nbsp;&nbsp;Quanex Building Products Corp. | &nbsp;&nbsp;108398 |
| &nbsp;&nbsp;520 | &nbsp;&nbsp;Quanta Services, Inc. | &nbsp;&nbsp;292802 |
| &nbsp;&nbsp;2550 | &nbsp;&nbsp;Rush Enterprises, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 180973 |
| &nbsp;&nbsp;275 | &nbsp;&nbsp;Sterling Construction Co., Inc. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 117736 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3375537 |
| &nbsp;&nbsp;**Commercial & Professional Services - 3.44%** | &nbsp;&nbsp;**Commercial & Professional Services - 3.44%** |  |
| &nbsp;&nbsp;1630 | &nbsp;&nbsp;CECO Environmental Corp. \* | &nbsp;&nbsp;98533 |
| &nbsp;&nbsp;4205 | &nbsp;&nbsp;Copart, Inc. \* | &nbsp;&nbsp;160168 |
| &nbsp;&nbsp;1670 | &nbsp;&nbsp;Waste Management, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 402203 |
|  |  | &nbsp;&nbsp;660904 |
| &nbsp;&nbsp;**Construction & Engineering - 0.71%** | &nbsp;&nbsp;**Construction & Engineering - 0.71%** |  |
| &nbsp;&nbsp;1399 | &nbsp;&nbsp;AECOM | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 137074 |
| &nbsp;&nbsp;**Construction Materials - 1.45%** | &nbsp;&nbsp;**Construction Materials - 1.45%** |  |
| &nbsp;&nbsp;559 | &nbsp;&nbsp;Eagle Materials, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 125104 |
| &nbsp;&nbsp;1350 | &nbsp;&nbsp;United States Lime & Mineral, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 154116 |

---

---

| | | |
|:---|:---|:---|
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 279220 |
| &nbsp;&nbsp;**Consumer Durables & Apparel - 1.79%** | &nbsp;&nbsp;**Consumer Durables & Apparel - 1.79%** |  |
| &nbsp;&nbsp;1103 | &nbsp;&nbsp;D.R. Horton, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 176910 |
| &nbsp;&nbsp;2275 | &nbsp;&nbsp;Green Brick Partners, Inc. \* | &nbsp;&nbsp;167576 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 344486 |
| &nbsp;&nbsp;**Diversified Financials - 5.34%** | &nbsp;&nbsp;**Diversified Financials - 5.34%** |  |
| &nbsp;&nbsp;588 | &nbsp;&nbsp;Texas Pacific Land Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 308283 |
| &nbsp;&nbsp;6720 | &nbsp;&nbsp;The Charles Schwab Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 639744 |
| &nbsp;&nbsp;1125 | &nbsp;&nbsp;Victory Capital Holdings, Inc. Class A | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;77828 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025855 |
| &nbsp;&nbsp;**Energy Equipment & Services - 0.94%** | &nbsp;&nbsp;**Energy Equipment & Services - 0.94%** |  |
| &nbsp;&nbsp;2780 | &nbsp;&nbsp;Baker Hughes Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 181423 |
| &nbsp;&nbsp;**Financial Services - 0.41%** | &nbsp;&nbsp;**Financial Services - 0.41%** |  |
| &nbsp;&nbsp;1000 | &nbsp;&nbsp;AST SpaceMobile, Inc. Class A \* | &nbsp;&nbsp;79190 |
| &nbsp;&nbsp;**Food & Staples Retailing - 0.77%** | &nbsp;&nbsp;**Food & Staples Retailing - 0.77%** |  |
| &nbsp;&nbsp;1625 | &nbsp;&nbsp;Sysco Corp. | &nbsp;&nbsp;148135 |
| &nbsp;&nbsp;**Food, Beverage & Tobacco - 0.51%** | &nbsp;&nbsp;**Food, Beverage & Tobacco - 0.51%** |  |
| &nbsp;&nbsp;3265 | &nbsp;&nbsp;Keurig Dr. Pepper, Inc. | &nbsp;&nbsp;98864 |
| &nbsp;&nbsp;**Gas Utilities - 0.46%** | &nbsp;&nbsp;**Gas Utilities - 0.46%** |  |
| &nbsp;&nbsp;470 | &nbsp;&nbsp;Atmos Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;87791 |
| &nbsp;&nbsp;**Health Care Equipment & Services - 3.03%** | &nbsp;&nbsp;**Health Care Equipment & Services - 3.03%** |  |
| &nbsp;&nbsp;430 | &nbsp;&nbsp;McKesson Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 424569 |
| &nbsp;&nbsp;655 | &nbsp;&nbsp;Tenet Healthcare Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156800 |
|  |  | &nbsp;&nbsp;581369 |
| &nbsp;&nbsp;**Household & Personal Products - 0.95%** | &nbsp;&nbsp;**Household & Personal Products - 0.95%** |  |
| &nbsp;&nbsp;1646 | &nbsp;&nbsp;Kimberly-Clark Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 183430 |
| &nbsp;&nbsp;**Independent Power & Renewable Electricity Producers - 0.44%** | &nbsp;&nbsp;**Independent Power & Renewable Electricity Producers - 0.44%** |  |
| &nbsp;&nbsp;230 | &nbsp;&nbsp;Talen Energy Corp. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85323 |
| &nbsp;&nbsp;**Integrated Oil & Gas - 4.48%** | &nbsp;&nbsp;**Integrated Oil & Gas - 4.48%** |  |
| &nbsp;&nbsp;4454 | &nbsp;&nbsp;Exxon Mobil Corp. | &nbsp;&nbsp;679235 |
| &nbsp;&nbsp;3428 | &nbsp;&nbsp;Occidental Petroleum Corp. | &nbsp;&nbsp;181958 |
|  |  | &nbsp;&nbsp;861193 |
| &nbsp;&nbsp;**Leisure Products - 0.76%** | &nbsp;&nbsp;**Leisure Products - 0.76%** |  |
| &nbsp;&nbsp;3360 | &nbsp;&nbsp;YETI Holdings, Inc. \* | &nbsp;&nbsp;146866 |
| &nbsp;&nbsp;**Machinery-Diversified - 0.55%** | &nbsp;&nbsp;**Machinery-Diversified - 0.55%** |  |
| &nbsp;&nbsp;1202 | &nbsp;&nbsp;Flowserve Corp. | &nbsp;&nbsp;106401 |
| &nbsp;&nbsp;**Oil & Gas Equipment Services - 1.48%** | &nbsp;&nbsp;**Oil & Gas Equipment Services - 1.48%** |  |
| &nbsp;&nbsp;1990 | &nbsp;&nbsp;Halliburton Co. | &nbsp;&nbsp;71640 |
| &nbsp;&nbsp;2015 | &nbsp;&nbsp;SLB N.V. | &nbsp;&nbsp;103450 |
| &nbsp;&nbsp;1652 | &nbsp;&nbsp;TechnipFMC PLC (United Kingdom) | &nbsp;&nbsp;109544 |
|  |  | &nbsp;&nbsp;284634 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Oil & Gas Exploration & Production - 3.56%** | &nbsp;&nbsp;**Oil & Gas Exploration & Production - 3.56%** |  |
| &nbsp;&nbsp;2990 | &nbsp;&nbsp;ConocoPhillips | &nbsp;&nbsp;339245 |
| &nbsp;&nbsp;1001 | &nbsp;&nbsp;Diamondback Energy, Inc. | &nbsp;&nbsp;174254 |
| &nbsp;&nbsp;1375 | &nbsp;&nbsp;EOG Resources, Inc. | &nbsp;&nbsp;170610 |
|  |  | &nbsp;&nbsp;684109 |
| &nbsp;&nbsp;**Oil & Gas Refining & Marketing - 2.13%** | &nbsp;&nbsp;**Oil & Gas Refining & Marketing - 2.13%** |  |
| &nbsp;&nbsp;1391 | &nbsp;&nbsp;Phillips 66 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 214673 |
| &nbsp;&nbsp;950 | &nbsp;&nbsp;Valero Energy Corp. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 194408 |
|  |  | &nbsp;&nbsp;409081 |
| &nbsp;&nbsp;**Oil & Gas Storage & Transportation - 3.20%** | &nbsp;&nbsp;**Oil & Gas Storage & Transportation - 3.20%** |  |
| &nbsp;&nbsp;751 | &nbsp;&nbsp;Cheniere Energy, Inc. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177033 |
| &nbsp;&nbsp;7776 | &nbsp;&nbsp;Kinder Morgan, Inc. | &nbsp;&nbsp;258708 |
| &nbsp;&nbsp;760 | &nbsp;&nbsp;Targa Resources Corp. | &nbsp;&nbsp;179208 |
|  |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 614949 |
| &nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 6.06%** | &nbsp;&nbsp;**Oil, Gas & Consumable Fuels - 6.06%** |  |
| &nbsp;&nbsp;3693 | &nbsp;&nbsp;Chevron Corp. | &nbsp;&nbsp;689705 |
| &nbsp;&nbsp;888 | &nbsp;&nbsp;Chord Energy Corp. | &nbsp;&nbsp;96233 |
| &nbsp;&nbsp;3330 | &nbsp;&nbsp;Corterra Energy, Inc. | &nbsp;&nbsp;101865 |
| &nbsp;&nbsp;18030 | &nbsp;&nbsp;Uranium Energy Corp. \* | &nbsp;&nbsp;276400 |
|  |  | &nbsp;&nbsp;1164203 |
| &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Science - 0.57%** | &nbsp;&nbsp;**Pharmaceuticals, Biotechnology & Life Science - 0.57%** |  |
| &nbsp;&nbsp;1340 | &nbsp;&nbsp;Caris Life Sciences, Inc. \* | &nbsp;&nbsp;26988 |
| &nbsp;&nbsp;400 | &nbsp;&nbsp;Natera, Inc. \* | &nbsp;&nbsp;83216 |
|  |  | &nbsp;&nbsp;110204 |
| &nbsp;&nbsp;**Retail & Wholesale-Discretionary - 0.90%** | &nbsp;&nbsp;**Retail & Wholesale-Discretionary - 0.90%** |  |
| &nbsp;&nbsp;2865 | &nbsp;&nbsp;Academy Sports & Outdoors, Inc. | &nbsp;&nbsp;172272 |
| &nbsp;&nbsp;**Retailing - 4.70%** | &nbsp;&nbsp;**Retailing - 4.70%** |  |
| &nbsp;&nbsp;3950 | &nbsp;&nbsp;GameStop Corp. Class A \* | &nbsp;&nbsp;94919 |
| &nbsp;&nbsp;2120 | &nbsp;&nbsp;Home Depot, Inc. | &nbsp;&nbsp;807126 |
|  |  | &nbsp;&nbsp;902045 |
| &nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 5.72%** | &nbsp;&nbsp;**Semiconductors & Semiconductor Equipment - 5.72%** |  |
| &nbsp;&nbsp;1080 | &nbsp;&nbsp;Cirrus Logic, Inc. \* | &nbsp;&nbsp;152410 |
| &nbsp;&nbsp;2800 | &nbsp;&nbsp;Diodes, Inc. \* | &nbsp;&nbsp;191044 |
| &nbsp;&nbsp;3565 | &nbsp;&nbsp;Texas Instruments, Inc. | &nbsp;&nbsp;756172 |
|  |  | &nbsp;&nbsp;1099626 |
| &nbsp;&nbsp;**Software & Services - 4.89%** | &nbsp;&nbsp;**Software & Services - 4.89%** |  |
| &nbsp;&nbsp;910 | &nbsp;&nbsp;Crowdstrike Holdings, Inc. Class A \* | &nbsp;&nbsp;338502 |
| &nbsp;&nbsp;3759 | &nbsp;&nbsp;Oracle Corp. | &nbsp;&nbsp;546559 |
| &nbsp;&nbsp;154 | &nbsp;&nbsp;Tyler Technologies, Inc. \* | &nbsp;&nbsp;54622 |
|  |  | &nbsp;&nbsp;939683 |
| &nbsp;&nbsp;**Technology Hardware & Equipment - 6.99%** | &nbsp;&nbsp;**Technology Hardware & Equipment - 6.99%** |  |
| &nbsp;&nbsp;2350 | &nbsp;&nbsp;Apple, Inc. | &nbsp;&nbsp;620823 |
| &nbsp;&nbsp;2100 | &nbsp;&nbsp;Applied Optoelectronics, Inc. \* | &nbsp;&nbsp;176883 |
| &nbsp;&nbsp;2550 | &nbsp;&nbsp;Dell Technologies, Inc. Class C | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 377604 |
| &nbsp;&nbsp;1330 | &nbsp;&nbsp;Flex Ltd. \* | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83817 |
| &nbsp;&nbsp;3900 | &nbsp;&nbsp;Hewlett Packard Enterprise Co. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;83733 |
|  |  | &nbsp;&nbsp;1342860 |
| &nbsp;&nbsp;**Telecommunication Services - 3.35%** | &nbsp;&nbsp;**Telecommunication Services - 3.35%** |  |
| &nbsp;&nbsp;22951 | &nbsp;&nbsp;AT&T, Inc. | &nbsp;&nbsp;642858 |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Transportation - 0.62%** | &nbsp;&nbsp;**Transportation - 0.62%** |  |
| &nbsp;&nbsp;2415 | &nbsp;&nbsp;Southwest Airlines Co. | &nbsp;&nbsp;118963 |
| &nbsp;&nbsp;**Utilities - 1.80%** | &nbsp;&nbsp;**Utilities - 1.80%** |  |
| &nbsp;&nbsp;2075 | &nbsp;&nbsp;CenterPoint Energy, Inc. | &nbsp;&nbsp;90263 |
| &nbsp;&nbsp;1465 | &nbsp;&nbsp;Vistra Corp. | &nbsp;&nbsp;254749 |
|  |  | &nbsp;&nbsp;345012 |
| &nbsp;&nbsp;TOTAL FOR COMMON STOCKS (Cost $13,746,127) - 97.66% | &nbsp;&nbsp;TOTAL FOR COMMON STOCKS (Cost $13,746,127) - 97.66% | &nbsp;&nbsp;18767284 |
| &nbsp;&nbsp;**WARRANT - 0.05%** | &nbsp;&nbsp;**WARRANT - 0.05%** |  |
| &nbsp;&nbsp;301 | &nbsp;&nbsp;Occidental Petroleum Corp., 08/03/2027 @ $22.00 (Notional Value $15,977) \* | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9346 |
| &nbsp;&nbsp;TOTAL FOR WARRANT (Cost $0) - 0.05% | &nbsp;&nbsp;TOTAL FOR WARRANT (Cost $0) - 0.05% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9346 |
| &nbsp;&nbsp;**MONEY MARKET FUND - 2.31%** | &nbsp;&nbsp;**MONEY MARKET FUND - 2.31%** |  |
| &nbsp;&nbsp;443763 | &nbsp;&nbsp;Federated Hermes Government Obligations Fund - Institutional Class, 4.17% \*\* | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;443763 |
| &nbsp;&nbsp;TOTAL FOR MONEY MARKET FUND (Cost $443,763) - 2.31% | &nbsp;&nbsp;TOTAL FOR MONEY MARKET FUND (Cost $443,763) - 2.31% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 443763 |
| &nbsp;&nbsp;**TOTAL INVESTMENTS (Cost $14,189,890) - 100.02%** | &nbsp;&nbsp;**TOTAL INVESTMENTS (Cost $14,189,890) - 100.02%** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19220393 |
| &nbsp;&nbsp;**LIABILITIES IN EXCESS OF OTHER ASSETS - (0.02)%** | &nbsp;&nbsp;**LIABILITIES IN EXCESS OF OTHER ASSETS - (0.02)%** | &nbsp;&nbsp;(4179) |
| &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;$19216214 |
| &nbsp;&nbsp;\* Non-Income producing. | &nbsp;&nbsp;\* Non-Income producing. |  |
| &nbsp;&nbsp;\*\* 7-day yield as of February 28, 2026. | &nbsp;&nbsp;\*\* 7-day yield as of February 28, 2026. |  |
| &nbsp;&nbsp;N.V. - Naamloze Vennootschap, a Dutch term for a public limited liability company, commonly used in the Netherlands and Belgium. | &nbsp;&nbsp;N.V. - Naamloze Vennootschap, a Dutch term for a public limited liability company, commonly used in the Netherlands and Belgium. |  |
| &nbsp;&nbsp;PLC - Public Limited Company | &nbsp;&nbsp;PLC - Public Limited Company |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** |
| &nbsp;&nbsp;**Statements of Assets and Liabilities** | &nbsp;&nbsp;**Statements of Assets and Liabilities** | &nbsp;&nbsp;**Statements of Assets and Liabilities** | &nbsp;&nbsp;**Statements of Assets and Liabilities** | &nbsp;&nbsp;**Statements of Assets and Liabilities** |
| &nbsp;&nbsp;**As of February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**As of February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**As of February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**As of February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**As of February 28, 2026 (Unaudited)** |
| &nbsp;&nbsp;**Assets:** | &nbsp;&nbsp; **Monteagle**<br> **Select Value**<br> **Fund** | &nbsp;&nbsp; **Monteagle**<br> **Opportunity**<br> **Equity Fund** | &nbsp;&nbsp; **Enhanced**<br> **Equity Income**<br> **Fund** | &nbsp;&nbsp; **The Texas**<br> **Fund** |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investment Securities |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At Cost | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;17796364</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;14420275</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;13200480</u> | &nbsp;&nbsp; <u>$14189890</u> |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;At Fair Value | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;19279667 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;16693397 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;13441079 | &nbsp;&nbsp;$19220393 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash | &nbsp;&nbsp;500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp; - | &nbsp;&nbsp; 500 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Deposits with Broker | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp; 695260 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivables: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholder Subscriptions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; 3076 | &nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends | &nbsp;&nbsp;19281 | &nbsp;&nbsp;12231 | &nbsp;&nbsp;6279 | &nbsp;&nbsp;18516 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Interest Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp;4268 | &nbsp;&nbsp; 634 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Prepaid Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1743 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1691 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19301191 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 16710418 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14148041 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19241734 |
| &nbsp;&nbsp;**Liabilities:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Options Written at Fair Value | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;27497 | &nbsp;&nbsp; - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (Premiums received $67,952) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payables: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Due to Adviser | &nbsp;&nbsp;7301 | &nbsp;&nbsp; 3123 | &nbsp;&nbsp; 3266 | &nbsp;&nbsp; 6403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Chief Compliance Officer Fees | &nbsp;&nbsp;2344 | &nbsp;&nbsp; 2246 | &nbsp;&nbsp;1861 | &nbsp;&nbsp;1905 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Trustee Fees | &nbsp;&nbsp;2397 | &nbsp;&nbsp;4355 | &nbsp;&nbsp;2657 | &nbsp;&nbsp;2399 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Operating Services Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;10221 | &nbsp;&nbsp;13813 | &nbsp;&nbsp; 8387 | &nbsp;&nbsp; 14813 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;ICI Membership Fees | &nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp; 456 | &nbsp;&nbsp; - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shareholder Redemptions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22225 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total Liabilities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22652 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45762 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 44124 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25520 |
| &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;19278539</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;16664656</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;14103917</u> | &nbsp;&nbsp; <u>$19216214</u> |
| &nbsp;&nbsp;**Net Assets Consist of:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paid In Capital | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;17006122 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;14015417 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;13870940 | &nbsp;&nbsp;$13313261 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributable Earnings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2272417 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2649239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;232977 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5902953 |
| &nbsp;&nbsp;**Net Assets** | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;19278539</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;16664656</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;14103917</u> | &nbsp;&nbsp; <u>$19216214</u> |
| &nbsp;&nbsp;**Institutional Class Shares** |  |  |  |  |
| &nbsp;&nbsp;Net Assets | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;19278539 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 6518038 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;14103917 | &nbsp;&nbsp;$19216214 |
| &nbsp;&nbsp;Shares of beneficial interest outstanding <sup>(1)</sup> | &nbsp;&nbsp;1558154 | &nbsp;&nbsp;1119198 | &nbsp;&nbsp;1377759 | &nbsp;&nbsp;1159668 |
| &nbsp;&nbsp;Net asset value, offering and redemption price per share | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.37</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.82</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10.24</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16.57</u> |
| &nbsp;&nbsp;**Investor Class Shares** |  |  |  |  |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;Net Assets | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10146618 |
| &nbsp;&nbsp;Shares of beneficial interest outstanding <sup>(1)</sup> | &nbsp;&nbsp;2023659 |
| &nbsp;&nbsp;Net asset value, offering and redemption price per share | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.01</u> |

---

(1) Unlimited number of shares of beneficial interest with no par value, authorized.

*The accompanying notes are an integral part of these financial statements.*

 

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** | &nbsp;&nbsp;**Monteagle Funds** |
| &nbsp;&nbsp;**Statements of Operations** | &nbsp;&nbsp;**Statements of Operations** | &nbsp;&nbsp;**Statements of Operations** | &nbsp;&nbsp;**Statements of Operations** | &nbsp;&nbsp;**Statements of Operations** |
| &nbsp;&nbsp;**For the six months ended February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**For the six months ended February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**For the six months ended February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**For the six months ended February 28, 2026 (Unaudited)** | &nbsp;&nbsp;**For the six months ended February 28, 2026 (Unaudited)** |
|  | &nbsp;&nbsp; **Monteagle**<br> **Select Value**<br> **Fund** | &nbsp;&nbsp; **Monteagle**<br> **Opportunity**<br> **Equity Fund** | &nbsp;&nbsp; **Monteagle**<br> **Enhanced Equity**<br> **Income Fund** | &nbsp;&nbsp; **The Texas**<br> **Fund** |
| &nbsp;&nbsp;**Investment Income:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends (net of $0, $1,870, $0, and $664 of foreign tax withheld) | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; 203015 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; 154587 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 98038 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; 124467 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Broker Interest Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20462 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11743 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 203015 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;154587 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;118500 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;136210 |
| &nbsp;&nbsp;**Expenses:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advisory Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45162 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21054 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 34832 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Chief Compliance Officer Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14745 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13451 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12235 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14034 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Trustee Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4972 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4997 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Operating Services Fees: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 63227 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 24675 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 54085 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 87761 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investor Class |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 64434 |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ICI Membership Fees | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;460 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 221 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 529 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 364 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 128593 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127855 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 92902 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141988 |
| &nbsp;&nbsp;**Net Investment Income (Loss)** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74422 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26732 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25598 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5778) |
| &nbsp;&nbsp;**Realized and Unrealized Gain (Loss) on Investments and Options:** |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized Gain (Loss) from Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 929360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;358156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(43385) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1745403 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Realized Gain from Written Options | &nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;201643 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7696 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1187111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1060353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;352540 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240955 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Change in Unrealized Appreciation on Written Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 31842 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;**Net Realized and Unrealized Gain on Investments** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2116471 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1418509 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;542640 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1994054 |
| &nbsp;&nbsp;**Net Increase in Net Assets Resulting from Operations** | &nbsp;&nbsp; <u>$2190893</u> | &nbsp;&nbsp; <u>$1445241</u> | &nbsp;&nbsp; <u>$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 568238</u> | &nbsp;&nbsp; <u>$1988276</u> |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |  |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** |
| &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** |
|  | &nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;(Unaudited) |  |
|  | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;For the |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;8/31/2025 |
| &nbsp;&nbsp;**Increase in Net Assets From Operations:** | &nbsp;&nbsp;**Increase in Net Assets From Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 74422 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 156171 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 929360 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;518907 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1187111 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;311819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2190893 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;986897 |
| &nbsp;&nbsp;**Distributions to Shareholders from:** | &nbsp;&nbsp;**Distributions to Shareholders from:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (766214) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (766214) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1237387) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (766214) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1237387) |
| &nbsp;&nbsp;**Capital Share Transactions:** | &nbsp;&nbsp;**Capital Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 76870 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;127646 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 297832 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;456269 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (49992) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(52955) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 324710 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;530960 |
| &nbsp;&nbsp;**Net Assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1749389 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;280470 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17529150 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 17248680 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp; $19278539 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;17529150 |
| &nbsp;&nbsp;**Share Transactions:** | &nbsp;&nbsp;**Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Sold |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6556 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 11775 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43165 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (4980) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 28117 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49960 |
| &nbsp;&nbsp;**Ending Shares:** | &nbsp;&nbsp;**Ending Shares:** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1558154 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1530037 |
| &nbsp;&nbsp;&nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;&nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;&nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** |
| &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** |
|  | &nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;(Unaudited) |  |
|  | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;For the |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;8/31/2025 |
| &nbsp;&nbsp;**Increase in Net Assets From Operations:** | &nbsp;&nbsp;**Increase in Net Assets From Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 26732 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73312 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 358156 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1484702 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1060353 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (435609) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1445241 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1122405 |
| &nbsp;&nbsp;**Distributions to Shareholders from:** | &nbsp;&nbsp;**Distributions to Shareholders from:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings: |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (558795) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (266420) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (952863) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (476760) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1511658) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (743180) |
| &nbsp;&nbsp;**Capital Share Transactions:** | &nbsp;&nbsp;**Capital Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1512651 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 548084 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 102912 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 219391 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 557999 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 266378 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 948612 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 472257 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1038383) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1241605) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1118955) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1452245) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Inclrease (Decrease) from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Inclrease (Decrease) from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 964836 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1187740) |
| &nbsp;&nbsp;**Net Assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase (Decrease) in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase (Decrease) in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 898419 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (808515) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15766237 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;16574752 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; 16664656 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; 15766237 |
| &nbsp;&nbsp;**Share Transactions:** | &nbsp;&nbsp;**Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Sold |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 260667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99049 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20667 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 45878 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 101824 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 49040 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 200976 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 99650 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed |  |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (181582) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (231684) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (224778) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (298375) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase (Decrease) in Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 177774 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (236442) |
| &nbsp;&nbsp;**Ending Shares:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1119198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 938289 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Investor Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2023659 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2026794 |
| &nbsp;&nbsp;&nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;&nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** |
| &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** |
|  | &nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;(Unaudited) |  |
|  | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;For the |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;8/31/2025 |
| &nbsp;&nbsp;**Increase in Net Assets From Operations:** | &nbsp;&nbsp;**Increase in Net Assets From Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 25598 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 56741 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 158258 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1166340 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation (Depreciation) on Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 384382 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (142393) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 568238 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1080688 |
| &nbsp;&nbsp;**Distributions to Shareholders from:** | &nbsp;&nbsp;**Distributions to Shareholders from:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (282054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (282054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1921963) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (282054) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1921963) |
| &nbsp;&nbsp;**Capital Share Transactions:** | &nbsp;&nbsp;**Capital Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10626 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;242899 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 249876 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1708819 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (159995) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1233418) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 100507 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;718300 |
| &nbsp;&nbsp;**Net Assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase (Decrease) in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase (Decrease) in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 386691 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (122975) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13717226 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13840201 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp; $14103917 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;13717226 |
| &nbsp;&nbsp;**Share Transactions:** | &nbsp;&nbsp;**Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Sold |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1029 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23792 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 23957 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;168431 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (15275) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (122762) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9711 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 69461 |
| &nbsp;&nbsp;**Ending Shares:** | &nbsp;&nbsp;**Ending Shares:** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1377759 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1368048 |

---

 <br> *The accompanying notes are an integral part of these financial statements.* <br>

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** |
| &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** | &nbsp;&nbsp;**Statements of Changes in Net Assets** |
|  | &nbsp;&nbsp;(Unaudited) | &nbsp;&nbsp;(Unaudited) |  |
|  | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;Six Months | &nbsp;&nbsp;For the |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;8/31/2025 |
| &nbsp;&nbsp;**Increase in Net Assets From Operations:** | &nbsp;&nbsp;**Increase in Net Assets From Operations:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Loss | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Loss | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (5778) | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (7896) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain from Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1753099 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;627585 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments and Options | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;240955 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;876705 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1988276 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1496394 |
| &nbsp;&nbsp;**Distributions to Shareholders from:** | &nbsp;&nbsp;**Distributions to Shareholders from:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Earnings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1257078) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1257078) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (491464) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Change in Net Assets from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1257078) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (491464) |
| &nbsp;&nbsp;**Capital Share Transactions:** | &nbsp;&nbsp;**Capital Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Proceeds from Sale of Shares: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5835148 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1691509 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Issued on Reinvestment of Dividends |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1164404 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;450203 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost of Shares Redeemed: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3780693) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1481939) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase from Shareholder Activity | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3218859 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;659773 |
| &nbsp;&nbsp;**Net Assets:** |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3950057 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1664703 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 15266157 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13601454 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;19216214 | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;15266157 |
| &nbsp;&nbsp;**Share Transactions:** | &nbsp;&nbsp;**Share Transactions:** |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Sold |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;361119 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;111411 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Reinvestment of Shares |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 77939 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 29834 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Shares Redeemed |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Institutional Class | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (231956) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (102495) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Shares | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;207102 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 38750 |
| &nbsp;&nbsp;**Ending Shares:** | &nbsp;&nbsp;**Ending Shares:** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1159668 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;952566 |

---

*The accompanying notes are an integral part of these financial statements.*

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** | &nbsp;&nbsp;**Monteagle Select Value Fund** |
| &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** |
| &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** |
|  | &nbsp;&nbsp;(Unaudited) |  |  |  |  |  |
|  | &nbsp;&nbsp;Six Months |  |  |  |  |  |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended |
| &nbsp;&nbsp;**Institutional Class Shares** | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;8/31/2025 | &nbsp;&nbsp;8/31/2024 | &nbsp;&nbsp;8/31/2023 | &nbsp;&nbsp;8/31/2022 | &nbsp;&nbsp;8/31/2021 |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 11.46 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 11.65 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.62 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 10.04 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 12.42 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 10.23 |
| &nbsp;&nbsp;Income (Loss) From Investment Operations: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income \* | &nbsp;&nbsp; 0.05 | &nbsp;&nbsp; 0.10 | &nbsp;&nbsp; 0.08 | &nbsp;&nbsp; 0.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.06 |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.37 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.54 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.02) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.78) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.55 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp; 1.42 | &nbsp;&nbsp; 0.64 | &nbsp;&nbsp; 2.09 | &nbsp;&nbsp; 0.03 | &nbsp;&nbsp; (0.76) | &nbsp;&nbsp; 5.61 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |
| &nbsp;&nbsp; From Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.05) | &nbsp;&nbsp; (0.11) | &nbsp;&nbsp; (0.06) | &nbsp;&nbsp; (0.03) | &nbsp;&nbsp; (0.03) | &nbsp;&nbsp; (0.09) |
| &nbsp;&nbsp; From Net Realized Gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.46) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.72) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.42) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.59) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (3.33) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.51) | &nbsp;&nbsp; (0.83) | &nbsp;&nbsp; (0.06) | &nbsp;&nbsp; (0.45) | &nbsp;&nbsp; (1.62) | &nbsp;&nbsp; (3.42) |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 12.37 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 11.46 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 11.65 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9.62 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 10.04 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 12.42 |
| &nbsp;&nbsp;Total Return \*\* | &nbsp;&nbsp; 12.63% &nbsp;&nbsp;(b) | &nbsp;&nbsp; 6.17% | &nbsp;&nbsp; 21.76% | &nbsp;&nbsp; 0.28% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(7.81)% | &nbsp;&nbsp; 66.48% |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 19279 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;17529 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;17249 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;14233 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;15203 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;16921 |
| &nbsp;&nbsp; Ratio of Expenses to Average Net Assets | &nbsp;&nbsp;1.42% &nbsp;&nbsp;(a) | &nbsp;&nbsp;1.45% | &nbsp;&nbsp;1.46% | &nbsp;&nbsp;1.39% | &nbsp;&nbsp;1.40% | &nbsp;&nbsp;1.44% |
| &nbsp;&nbsp; Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;0.82% &nbsp;&nbsp;(a) | &nbsp;&nbsp;0.95% | &nbsp;&nbsp;0.79% | &nbsp;&nbsp;0.50% | &nbsp;&nbsp;0.15% | &nbsp;&nbsp;0.52% |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;43% &nbsp;&nbsp;(b) | &nbsp;&nbsp;54% | &nbsp;&nbsp;31% | &nbsp;&nbsp;4% | &nbsp;&nbsp;47% | &nbsp;&nbsp;178% |
| &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. |  |
| &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. |  |  |  |
| &nbsp;&nbsp;(a) Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;(b) Not Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |  |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** |
| &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** |
| &nbsp;&nbsp;**Selected data for a Institutional Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a Institutional Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a Institutional Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a Institutional Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a Institutional Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a Institutional Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a Institutional Class share outstanding throughout each period/year.** |
|  | &nbsp;&nbsp;(Unaudited) |  |  |  |  |  |
|  | &nbsp;&nbsp;Six Months |  |  |  |  |  |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended |
| &nbsp;&nbsp;**Institutional Class Shares** | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;8/31/2025 | &nbsp;&nbsp;8/31/2024 | &nbsp;&nbsp;8/31/2023 | &nbsp;&nbsp;8/31/2022 | &nbsp;&nbsp;8/31/2021 |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.82 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.64 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 6.18 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 6.02 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7.85 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.86 |
| &nbsp;&nbsp;Income (Loss) From Investment Operations: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income \* | &nbsp;&nbsp; 0.02 | &nbsp;&nbsp; 0.04 | &nbsp;&nbsp; 0.02 | &nbsp;&nbsp; 0.06 | &nbsp;&nbsp; 0.04 | &nbsp;&nbsp; 0.03 |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.50 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.39 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.84 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.49 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.23) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.01 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp; 0.52 | &nbsp;&nbsp; 0.43 | &nbsp;&nbsp; 0.86 | &nbsp;&nbsp; 0.55 | &nbsp;&nbsp; (0.19) | &nbsp;&nbsp; 2.04 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |
| &nbsp;&nbsp; From Net Investment Income | &nbsp;&nbsp; (0.02) | &nbsp;&nbsp; (0.03) | &nbsp;&nbsp; (0.04) | &nbsp;&nbsp; (0.06) | &nbsp;&nbsp; (0.03) | &nbsp;&nbsp; (0.05) |
| &nbsp;&nbsp; From Net Realized Gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.50) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.61) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp; (0.52) | &nbsp;&nbsp; (0.25) | &nbsp;&nbsp; (1.40) | &nbsp;&nbsp; (0.39) | &nbsp;&nbsp; (1.64) | &nbsp;&nbsp; (0.05) |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.82 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.82 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.64 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 6.18 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 6.02 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7.85 |
| &nbsp;&nbsp;Total Return \*\* | &nbsp;&nbsp; 9.40% &nbsp;&nbsp;(b) | &nbsp;&nbsp; 8.06% | &nbsp;&nbsp;15.68% | &nbsp;&nbsp; 9.60% | &nbsp;&nbsp; (3.98)% | &nbsp;&nbsp; 35.00% |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 6518 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;5465 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5768 | &nbsp;&nbsp;$14323 | &nbsp;&nbsp;$17446 | &nbsp;&nbsp;$22128 |
| &nbsp;&nbsp; Ratio of Expenses to Average Net Assets | &nbsp;&nbsp;1.27% &nbsp;&nbsp;(a) | &nbsp;&nbsp;1.31% | &nbsp;&nbsp;1.31% | &nbsp;&nbsp;1.20% | &nbsp;&nbsp;1.19% | &nbsp;&nbsp;1.20% |
| &nbsp;&nbsp; Ratio of Net Investment Income to Average Net Assets | &nbsp;&nbsp;0.62% &nbsp;&nbsp;(a) | &nbsp;&nbsp;0.79% | &nbsp;&nbsp;0.43% | &nbsp;&nbsp;0.99% | &nbsp;&nbsp;0.65% | &nbsp;&nbsp;0.43% |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;8% &nbsp;&nbsp;(b) | &nbsp;&nbsp;69% | &nbsp;&nbsp;54% | &nbsp;&nbsp;80% | &nbsp;&nbsp;46% | &nbsp;&nbsp;58% |
| &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. |
| &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming |  |
| &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction |  |
| &nbsp;&nbsp;of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. |  |  |  |  |
| &nbsp;&nbsp;(a) Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;(b) Not Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |  |  |  |

---

---

| | | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** | &nbsp;&nbsp;**Monteagle Opportunity Equity Fund** |
| &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** |
| &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for an Investor Class share outstanding throughout each period/year.** |
|  | &nbsp;&nbsp;(Unaudited) |  |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;Six Months |  |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;Ended |  | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended |  |
| &nbsp;&nbsp;**Investor Class Shares** | &nbsp;&nbsp;2/28/2026 |  | &nbsp;&nbsp;8/31/2025 | &nbsp;&nbsp;8/31/2024 |  | &nbsp;&nbsp;8/31/2023 | &nbsp;&nbsp;8/31/2022 | &nbsp;&nbsp;8/31/2021 |  |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.08 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 4.96 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.59 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.48 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7.30 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.45 |  |
| &nbsp;&nbsp;Income (Loss) From Investment Operations: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income \* | &nbsp;&nbsp; - | &nbsp;&nbsp; \*\*\* | &nbsp;&nbsp;0.01 | &nbsp;&nbsp; - | &nbsp;&nbsp; \*\*\* | &nbsp;&nbsp; 0.03 | &nbsp;&nbsp; 0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp; \*\*\* |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.43 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.34 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.21) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.87 |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp; 0.43 |  | &nbsp;&nbsp; 0.35 | &nbsp;&nbsp; 0.75 |  | &nbsp;&nbsp; 0.47 | &nbsp;&nbsp; (0.20) | &nbsp;&nbsp;1.87 |  |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; From Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp; \*\*\* | &nbsp;&nbsp; (0.01) | &nbsp;&nbsp; (0.02) |  | &nbsp;&nbsp; (0.03) | &nbsp;&nbsp; (0.01) | &nbsp;&nbsp; (0.02) |  |
| &nbsp;&nbsp; From Net Realized Gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.50) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.22) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.36) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.61) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp; (0.50) |  | &nbsp;&nbsp; (0.23) | &nbsp;&nbsp; (1.38) |  | &nbsp;&nbsp; (0.36) | &nbsp;&nbsp; (1.62) | &nbsp;&nbsp; (0.02) |  |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.01 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;5.08 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 4.96 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.59 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5.48 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7.30 |  |
| &nbsp;&nbsp;Total Return \*\* | &nbsp;&nbsp; 9.08% | &nbsp;&nbsp;(b) | &nbsp;&nbsp; 7.43% | &nbsp;&nbsp; 15.37% |  | &nbsp;&nbsp; 9.00% | &nbsp;&nbsp; (4.44)% | &nbsp;&nbsp; 34.31% |  |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10147 |  | &nbsp;&nbsp;$10301 | &nbsp;&nbsp;$10807 |  | &nbsp;&nbsp;$11072 | &nbsp;&nbsp;$10669 | &nbsp;&nbsp;$12558 |  |
| &nbsp;&nbsp; Ratio of Expenses to Average Net Assets | &nbsp;&nbsp;1.77% | &nbsp;&nbsp;(a) | &nbsp;&nbsp;1.81% | &nbsp;&nbsp;1.78% |  | &nbsp;&nbsp;1.70% | &nbsp;&nbsp;1.69% | &nbsp;&nbsp;1.71% |  |
| &nbsp;&nbsp; Ratio of Net Investment Income (Loss) to Average Net Assets | &nbsp;&nbsp;0.15% | &nbsp;&nbsp;(a) | &nbsp;&nbsp;0.28% | &nbsp;&nbsp;0.08% |  | &nbsp;&nbsp;0.50% | &nbsp;&nbsp;0.15% | &nbsp;&nbsp; (0.05)% |  |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;8% | &nbsp;&nbsp;(b) | &nbsp;&nbsp;69% | &nbsp;&nbsp;54% |  | &nbsp;&nbsp;80% | &nbsp;&nbsp;46% | &nbsp;&nbsp;58% |  |
| &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the year or period. |  |  |
| &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming |  |  |  |
| &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction |  |  |  |
| &nbsp;&nbsp;of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. |  |  |  |  |  |  |
| &nbsp;&nbsp;\*\*\* Amount less than $0.005 per share. |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;(a) Annualized. |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;(b) Not Annualized. |  |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |  |  |  |  |  |  |  |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** | &nbsp;&nbsp;**Monteagle Enhanced Equity Income Fund** |
| &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** |
| &nbsp;&nbsp;**Selected data for a share outstanding throughout the period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout the period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout the period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout the period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout the period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout the period/year.** |
|  | &nbsp;&nbsp;(Unaudited) |  |  |  |  |
|  | &nbsp;&nbsp;Six Months |  |  |  | &nbsp;&nbsp;Period |
|  | &nbsp;&nbsp;Ended |  | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Ended |
| &nbsp;&nbsp;**Institutional Class Shares** | &nbsp;&nbsp;2/28/2026 |  | &nbsp;&nbsp;8/31/2025 | &nbsp;&nbsp;8/31/2024 | &nbsp;&nbsp;8/31/2023 &nbsp;&nbsp;(a) |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 10.03 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10.66 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10.00 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10.00 |
| &nbsp;&nbsp;Income From Investment Operations: |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income \* | &nbsp;&nbsp; 0.02 |  | &nbsp;&nbsp; 0.04 | &nbsp;&nbsp; 0.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 |
| &nbsp;&nbsp; Net Gain on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.39 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.78 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.71 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.43 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp; 0.41 |  | &nbsp;&nbsp;0.82 | &nbsp;&nbsp; 1.82 | &nbsp;&nbsp; 0.51 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |
| &nbsp;&nbsp; From Net Investment Income | &nbsp;&nbsp; (0.02) |  | &nbsp;&nbsp; (0.04) | &nbsp;&nbsp; (0.11) | &nbsp;&nbsp; (0.51) |
| &nbsp;&nbsp; From Net Realized Gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.41) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.05) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp; (0.21) |  | &nbsp;&nbsp; (1.45) | &nbsp;&nbsp; (1.16) | &nbsp;&nbsp; (0.51) |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 10.23 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10.03 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10.66 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;10.00 |
| &nbsp;&nbsp;Total Return \*\* | &nbsp;&nbsp;4.03% | &nbsp;&nbsp;(c) | &nbsp;&nbsp;8.41% | &nbsp;&nbsp;19.44% | &nbsp;&nbsp;5.21% &nbsp;&nbsp;(c) |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 14104 |  | &nbsp;&nbsp;$13717 | &nbsp;&nbsp;$13840 | &nbsp;&nbsp;$12998 |
| &nbsp;&nbsp; Ratio of Expenses to Average Net Assets \*\*\* | &nbsp;&nbsp;1.32% | &nbsp;&nbsp;(b) | &nbsp;&nbsp;1.35% | &nbsp;&nbsp;1.36% | &nbsp;&nbsp;1.25% &nbsp;&nbsp;(b) |
| &nbsp;&nbsp; Ratio of Net Investment Income to Average Net Assets \*\*\* | &nbsp;&nbsp;0.36% | &nbsp;&nbsp;(b) | &nbsp;&nbsp;0.42% | &nbsp;&nbsp;1.05% | &nbsp;&nbsp;1.38% &nbsp;&nbsp;(b) |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;48% | &nbsp;&nbsp;(c) | &nbsp;&nbsp;171% | &nbsp;&nbsp;234% | &nbsp;&nbsp;124% &nbsp;&nbsp;(c) |
| &nbsp;&nbsp;(a) For period January 23, 2023 (commencement of operations) through August 31, 2023. | &nbsp;&nbsp;(a) For period January 23, 2023 (commencement of operations) through August 31, 2023. | &nbsp;&nbsp;(a) For period January 23, 2023 (commencement of operations) through August 31, 2023. |  |  |  |
| &nbsp;&nbsp;(b) Annualized. |  |  |  |  |  |
| &nbsp;&nbsp;(c) Not Annualized. |  |  |  |  |  |
| &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income has been determined on the basis of average shares outstanding during the period. |  |
| &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. |  |  |  |
| &nbsp;&nbsp;\*\*\* The ratios of expenses and net investment income to average net assets do not reflect the proportionate share of | &nbsp;&nbsp;\*\*\* The ratios of expenses and net investment income to average net assets do not reflect the proportionate share of | &nbsp;&nbsp;\*\*\* The ratios of expenses and net investment income to average net assets do not reflect the proportionate share of | &nbsp;&nbsp;\*\*\* The ratios of expenses and net investment income to average net assets do not reflect the proportionate share of | &nbsp;&nbsp;\*\*\* The ratios of expenses and net investment income to average net assets do not reflect the proportionate share of |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; expenses and income of the underlying funds in which the Fund invests. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; expenses and income of the underlying funds in which the Fund invests. |  |  |  |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |  |  |  |

---

---

| | | | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** | &nbsp;&nbsp;**The Texas Fund** |
| &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** | &nbsp;&nbsp;**Financial Highlights** |
| &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** | &nbsp;&nbsp;**Selected data for a share outstanding throughout each period/year.** |
|  | &nbsp;&nbsp;(Unaudited) |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;Six Months |  |  |  |  |  |  |  |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended | &nbsp;&nbsp;Years Ended |
| &nbsp;&nbsp;**Institutional Class Shares** | &nbsp;&nbsp;2/28/2026 | &nbsp;&nbsp;8/31/2025 |  | &nbsp;&nbsp;8/31/2024 | &nbsp;&nbsp;8/31/2023 | &nbsp;&nbsp;8/31/2022 |  | &nbsp;&nbsp;8/31/2021 |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 16.03 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 14.88 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 12.88 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 12.81 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 13.81 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 9.73 |
| &nbsp;&nbsp;Income (Loss) From Investment Operations: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income (Loss) \* | &nbsp;&nbsp; (0.01) | &nbsp;&nbsp; (0.01) |  | &nbsp;&nbsp; (0.01) | &nbsp;&nbsp; 0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;\*\*\* | &nbsp;&nbsp; (0.05) |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.64 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.68 |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.28) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.13 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp; 1.63 | &nbsp;&nbsp; 1.67 |  | &nbsp;&nbsp; 2.34 | &nbsp;&nbsp; 0.45 | &nbsp;&nbsp; (0.28) |  | &nbsp;&nbsp; 4.08 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; From Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;\*\*\* | &nbsp;&nbsp; (0.01) | &nbsp;&nbsp; (0.02) | &nbsp;&nbsp; - |  | &nbsp;&nbsp; - |
| &nbsp;&nbsp; From Return of Capital | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |  | &nbsp;&nbsp; - | &nbsp;&nbsp; - | &nbsp;&nbsp; (0.15) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp; From Net Realized Gain | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.09) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.52) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.33) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.36) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.57) |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp; (1.09) | &nbsp;&nbsp; (0.52) |  | &nbsp;&nbsp; (0.34) | &nbsp;&nbsp; (0.38) | &nbsp;&nbsp; (0.72) |  | &nbsp;&nbsp; - |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 16.57 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 16.03 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 14.88 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 12.88 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 12.81 |  | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;13.81 |
| &nbsp;&nbsp;Total Return \*\* | &nbsp;&nbsp; 10.91% &nbsp;&nbsp;(b) | &nbsp;&nbsp; 11.44% |  | &nbsp;&nbsp; 18.39% | &nbsp;&nbsp; 3.71% | &nbsp;&nbsp; (2.37)% |  | &nbsp;&nbsp; 41.93% |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 19216 | &nbsp;&nbsp;$15266 |  | &nbsp;&nbsp;$13601 | &nbsp;&nbsp;$12013 | &nbsp;&nbsp;$14408 |  | &nbsp;&nbsp;$13974 |
| &nbsp;&nbsp; Ratio of Expenses to Average Net Assets | &nbsp;&nbsp;1.63% &nbsp;&nbsp;(a) | &nbsp;&nbsp;1.69% |  | &nbsp;&nbsp;1.73% | &nbsp;&nbsp;1.66% | &nbsp;&nbsp;1.60% |  | &nbsp;&nbsp;1.67% |
| &nbsp;&nbsp; Ratio of Net Investment Income (Loss) to Average Net Assets | &nbsp;&nbsp; (0.07)% &nbsp;&nbsp;(a) | &nbsp;&nbsp; (0.06)% |  | &nbsp;&nbsp; (0.07)% | &nbsp;&nbsp;0.10% | &nbsp;&nbsp; (0.03)% |  | &nbsp;&nbsp; (0.36)% |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;45% &nbsp;&nbsp;(b) | &nbsp;&nbsp;59% |  | &nbsp;&nbsp;52% | &nbsp;&nbsp;61% | &nbsp;&nbsp;56% |  | &nbsp;&nbsp;94% |
| &nbsp;&nbsp;\* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period. | &nbsp;&nbsp;\* Per share net investment income (loss) has been determined on the basis of average shares outstanding during the period. |  |  |
| &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming | &nbsp;&nbsp;\*\* Total return represents the rate that the investor would have earned or lost on an investment in the Fund assuming |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; reinvestment of dividends, and is not annualized for periods of less than one year. Returns do not reflect the deduction |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; of taxes a shareholder would pay on Fund distributions or in redemption of Fund shares. |  |  |  |  |  |  |
| &nbsp;&nbsp;\*\*\* Amount less than $0.005 per share. |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;(a) Annualized. |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;(b) Not Annualized. |  |  |  |  |  |  |  |  |
| &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* | &nbsp;&nbsp;*The accompanying notes are an integral part of these financial statements.* |  |  |  |  |  |  |  |

---

**Monteagle Funds**

Notes to Financial Statements

February 28, 2026 (Unaudited)

**1. ORGANIZATION** 

Monteagle Funds ("the Trust") was organized as a business trust under the laws of the State of Delaware on November 26, 1997 as Memorial Funds. The Trust changed its name to Monteagle Funds in July, 2006.

The Trust is registered with the Securities and Exchange Commission ("SEC") as an open-end, management investment company under the Investment Company Act of 1940. The Trust is authorized by its Declaration of Trust to issue an unlimited number of shares of beneficial interest in each series. The Trust currently consists of the following series (each a "Fund" and collectively the "Funds"):

Monteagle Select Value Fund

Monteagle Opportunity Equity Fund

Monteagle Enhanced Equity Income Fund

The Texas Fund

The Smart Diversification Fund, previously offered, was closed by the investment adviser, Park Place Capital Corporation, on November 24, 2023.

The Monteagle Select Value Fund ("Select Value Fund"), Monteagle Opportunity Equity Fund ("Opportunity Equity Fund"), Monteagle Enhanced Equity Income Fund ("Enhanced Equity Income Fund"), and The Texas Fund ("Texas Fund") are each a diversified series of Monteagle Funds. The principal investment objective of each of Select Value Fund, Opportunity Equity Fund and The Texas Fund (collectively the "Equity Funds") is long-term capital appreciation. The principal investment objective of the Enhanced Equity Income Fund is to seek high current income while maintaining prospects for capital appreciation.

The Funds are authorized to offer one class of shares, Institutional Class shares, except the Opportunity Equity Fund has an Investor Class and Institutional Class shares. Each class differs as to operating service fees, such that Institutional Class shares have lower fees but there is a higher minimum initial investment required.

The Enhanced Equity Income Fund commenced investment operations on January 23, 2023.

**2. SIGNIFICANT ACCOUNTING POLICIES** 

The following is a summary of significant accounting policies followed by the Funds in preparation of their financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America ("GAAP").

The Funds follow the investment company accounting and reporting guidance of the Financial Accounting Standards Board ("FASB") Accounting Standards Codification Topic 946 Financial Services - Investment Companies.

The following is a summary of the Funds' significant accounting policies:

**Securities Valuation** — Equity securities, including common stocks, exchange traded funds and real estate investment trusts, held by the Funds for which market quotations are readily available are valued using the last reported sales price or the official closing price provided by independent pricing services as of the close of trading on the New York Stock Exchange (normally 4:00 p.m. Eastern time) on each Fund's business day, which is deemed to be the fair value. If no sales are reported, the average of the last bid and ask price is used. If no average price is available, the last bid price is used. To the extent these securities are actively traded and valuation adjustments are not applied, they are categorized in level 1 of the fair value hierarchy described below. When an equity security is valued by the independent pricing service using factors other than market quotations or the market is considered inactive, they will be categorized in level 2.

Options contracts that are actively traded are valued based on quoted prices from the exchange and categorized in level 1 of the fair value hierarchy. Options held by the Funds for which no current quotations are readily available and which are not traded on the valuation date are valued at the average of the last bid and ask price and are categorized within level 2 of the fair value hierarchy. Depending on the product and terms of the transaction, the fair value of options can be modeled taking into account the counterparties' creditworthiness and using a series of techniques, including simulation models. Many pricing models do not entail material subjectivity because the methodologies employed do not necessitate significant judgments, and the pricing inputs are observed from actively quoted markets, as is the case of options contracts. Options contracts valued using pricing models are categorized within level 2 of the fair value hierarchy.

Warrants that are actively traded, and valuation adjustments are not applied, are categorized in level 1 of the fair value hierarchy. Warrants traded on inactive markets or valued by reference to similar instruments are categorized in level 2 of the fair value hierarchy.

Money market funds are valued at their net asset value of $1.00 per share and are categorized as level 1. Securities with maturities of 60 days or less may be valued at amortized cost, which approximates fair value and would be categorized as level 2.

Various inputs are used in determining the value of each of the Fund's investments. These inputs are summarized in the three broad levels listed below:

&nbsp;&nbsp;&nbsp;&nbsp;· Level 1 – quoted prices in active markets for identical
securities that the Funds have the ability to access

&nbsp;&nbsp;&nbsp;&nbsp;· Level 2 – other significant observable inputs

&nbsp;&nbsp;&nbsp;&nbsp;· Level 3 – significant unobservable inputs

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following is a summary of the inputs used to value the Funds' investments at fair value as of February 28, 2026:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;<br>**Select Value Fund**<br>&nbsp;&nbsp;**Security Classification <sup>(a)</sup>** | <br>&nbsp;&nbsp; **Level 1**<br> **(Quoted Prices)** | &nbsp;&nbsp;**Level 2**<br>&nbsp;&nbsp;**(Other Significant Observable Inputs)** | <br>&nbsp;&nbsp;**Totals** |
| &nbsp;&nbsp;Common Stocks **<sup>(b)</sup>** | &nbsp;&nbsp; $16911920 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $16911920 |
| &nbsp;&nbsp;Real Estate Investment Trusts | &nbsp;&nbsp;347369 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;347369 |
| &nbsp;&nbsp;Money Market Fund | &nbsp;&nbsp;2020378 | - | &nbsp;&nbsp;2020378 |
| &nbsp;&nbsp;Totals | &nbsp;&nbsp; $19279667 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $19279667 |
| &nbsp;&nbsp;**Opportunity Equity Fund** |  | &nbsp;&nbsp;**Level 2** |  |
|  | &nbsp;&nbsp; **Level 1**<br> **(Quoted Prices)** | &nbsp;&nbsp;**(Other Significant Observable Inputs)** | &nbsp;&nbsp;**Totals** |
| &nbsp;&nbsp;**Security Classification <sup>(a)</sup>** | &nbsp;&nbsp; **Level 1**<br> **(Quoted Prices)** | &nbsp;&nbsp;**(Other Significant Observable Inputs)** | &nbsp;&nbsp;**Totals** |
| &nbsp;&nbsp;Common Stocks **<sup>(b)</sup>** | &nbsp;&nbsp; $15740175 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $15740175 |
| &nbsp;&nbsp;Real Estate Investment Trusts | &nbsp;&nbsp;865581 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;865581 |
| &nbsp;&nbsp;Money Market Fund | &nbsp;&nbsp;87641 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;87641 |
| &nbsp;&nbsp;Totals | &nbsp;&nbsp; $16693397 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $16693397 |
| &nbsp;&nbsp;<br>**Enhanced Equity Income Fund** |  | &nbsp;&nbsp;**Level 2** |  |
| &nbsp;&nbsp;**Security Classification <sup>(a)</sup>** | &nbsp;&nbsp; **Level 1**<br> **(Quoted Prices)** | &nbsp;&nbsp;**(Other Significant Observable Inputs)** | &nbsp;&nbsp;**Totals** |
| &nbsp;&nbsp;Common Stocks **<sup>(b)</sup>** | &nbsp;&nbsp; $12106908 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $12106908 |
| &nbsp;&nbsp;Exchange Traded Fund | &nbsp;&nbsp;1028985 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;1028985 |
| &nbsp;&nbsp;Money Market Fund | &nbsp;&nbsp;305186 | - | &nbsp;&nbsp;305186 |
| &nbsp;&nbsp;Totals | &nbsp;&nbsp; $13441079 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $13441079 |
| &nbsp;&nbsp;Written Call Options | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; (27497) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; (27497) |
| &nbsp;&nbsp;Total | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; (27497) | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp; (27497) |
| &nbsp;&nbsp;**Texas Fund** |  | &nbsp;&nbsp;**Level 2** |  |
| &nbsp;&nbsp;**Security Classification <sup>(a)</sup>** | &nbsp;&nbsp; **Level 1**<br> **(Quoted Prices)** | &nbsp;&nbsp;**(Other Significant Observable Inputs)** | &nbsp;&nbsp;**Totals** |
| &nbsp;&nbsp;Common Stocks **<sup>(b)</sup>** | &nbsp;&nbsp; $18767284 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $18767284 |
| &nbsp;&nbsp;Warrant | &nbsp;&nbsp;9346 |  | &nbsp;&nbsp;9346 |
| &nbsp;&nbsp;Money Market Fund | &nbsp;&nbsp;443763 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;443763 |
| &nbsp;&nbsp;Totals | &nbsp;&nbsp; $19220393 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp; $19220393 |

---

 <sup>(a)</sup> As of and during the six months ended February 28, 2026, the Funds held no securities that were considered to be "Level 3" securities (those valued using significant unobservable inputs). Therefore, a reconciliation of assets in which significant unobservable inputs (Level 3) were used in determining fair value is not applicable.

<sup>(b)</sup> For a detailed break-out of securities by major industry classification, please refer to the Schedules of Investments.

**Options transactions** — The Enhanced Equity Income Fund and the Texas Fund may purchase put and call options written by others and sell put and call options covering specified individual securities, securities or financial indices or currencies. A put option (sometimes called a "standby commitment") gives the buyer of the option, upon payment of a premium, the right to deliver a specified amount of a security, index or currency to the writer of the option on or before a fixed date at a predetermined price. A call option (sometimes called a "reverse standby commitment") gives the purchaser of the option, upon payment of a premium, the right to call upon the writer to deliver a specified amount of a security, index or currency on or before a fixed date, at a predetermined price. The predetermined prices may be higher or lower than the market value of the underlying security, index or currency. The Funds may buy or sell both exchange-traded and over-the-counter ("OTC") options. The Funds will purchase or write an option only if that option is traded on a recognized U.S. options exchange or if the Adviser or Sub-adviser believes that a liquid secondary market for the option exists. When the Fund purchases an OTC option, it relies on the dealer from whom it has purchased the OTC option to make or take delivery of the security, index or currency underlying the option. Failure by the dealer to do so would result in the loss of the premium paid by the Fund as well as the loss of the expected benefit of the transaction. OTC options and the securities underlying these options currently are treated as illiquid securities by the Funds.

Upon selling an option, the Fund receives a premium from the purchaser of the option. Upon purchasing an option, the Fund pays a premium to the seller of the option. The amount of premium received or paid by the Fund is based upon certain factors, including the market price of the underlying securities, index or currency, the relationship of the exercise price to the market price, the historical price volatility of the underlying assets, the option period, supply and demand and interest rates.

The Funds may purchase call options on equity securities that the Fund's Adviser or Sub-adviser intends to include in the Fund's portfolio in order to fix the cost of a future purchase. Call options may also be purchased to participate in an anticipated price increase of a security on a more limited risk basis than would be possible if the security itself were purchased. If the price of the underlying security declines, this strategy would serve to limit the potential loss to the Fund to the option premium paid. Conversely, if the market price of the underlying security increases above the exercise price and the Fund either sells or exercises the option, any profit eventually realized will be reduced by the premium paid. The Funds may similarly purchase put options in order to hedge against a decline in market value of securities held in its portfolio. The put enables the Fund to sell the underlying security at the predetermined exercise price; thus the potential for loss to the Fund is limited to the option premium paid. If the market price of the underlying security is lower than the exercise price of the put, any profit the Fund realizes on the sale of the security would be reduced by the premium paid for the put option less any amount for which the put may be sold.

The Adviser or Sub-adviser may write call options when it believes that the market value of the underlying security will not rise to a value greater than the exercise price plus the premium received. Call options may also be written to provide limited protection against a decrease in the market price of a security, in an amount equal to the call premium received less any transaction costs.

The Funds may purchase and write put and call options on fixed income or equity security indexes in much the same manner as the options discussed above, except that index options may serve as a hedge against overall fluctuations in the fixed income or equity securities markets (or market sectors) or as a means of participating in an anticipated price increase in those markets. The effectiveness of hedging techniques using index options will depend on the extent to which price movements in the index selected correlate with price movements of the securities, which are being hedged. Index options are settled exclusively in cash. See Note 9 for additional risks associated with options transactions.

Cash that has been segregated or delivered to cover the Funds' collateral or margin obligations under derivative contracts, if any, will be reported separately in the Statements of Assets and Liabilities as restricted cash. Securities pledged as collateral or margin for the same purpose, if any, are noted in the Schedules of Investments.

All options purchased by the Texas Fund and written by Enhanced Equity Income Fund during the year were equity securities including exchange traded funds. The derivatives are not accounted for as hedging instruments under GAAP.

At February 28, 2026, the Enhanced Equity Income Fund had written call options valued at $27,497, which are presented as Covered Call Options Written at Fair Value on the Statement of Assets and Liabilities.

The effect of derivative instruments on the Statements of Operations during the six months ended February 28, 2026 were as follows:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp; <br>**Fund** | &nbsp;&nbsp; **Derivatives not accounted for as** <br> **hedging instruments**<br> **under GAAP** | &nbsp;&nbsp; **Location of**<br> **gain (loss) on**<br> **Derivatives recognized** <br> **in income** | &nbsp;&nbsp;**Realized and unrealized gain (loss) on Derivatives recognized in income** |
| &nbsp;&nbsp;Enhanced Equity Income Fund | &nbsp;&nbsp;Call and put options written | &nbsp;&nbsp;Net realized gain from written options | $201643 |
| &nbsp;&nbsp;Enhanced Equity Income Fund | &nbsp;&nbsp;Call and put options written | &nbsp;&nbsp;Net change in unrealized appreciation on written options | $&nbsp;&nbsp;&nbsp;&nbsp;31842 |
| &nbsp;&nbsp;Texas Fund | &nbsp;&nbsp;Call and put options purchased | &nbsp;&nbsp;Net realized loss from investments | $&nbsp;&nbsp;&nbsp;&nbsp; 7696 |
| &nbsp;&nbsp;Texas Fund | &nbsp;&nbsp;Call and put options purchased | &nbsp;&nbsp;Net change in unrealized appreciation on investments | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |

---

For the six months ended February 28, 2026, the Enhanced Equity Income Fund purchased no option contracts. For the six months ended February 28, 2026, the Enhanced Equity Income Fund wrote 1,241 call contracts. For the six months ended February 28, 2026, the Texas Fund purchased 1,000 call contracts. For the six months ended February 28, 2025 the Texas Fund wrote 15 put contracts. The number of purchased and written contracts is representative of the volume of activity for these derivative types during the period.

**Security Transactions** — Security transactions are accounted for on trade date and realized gains and losses on investments sold are determined on a specific identification basis.

**Real Estate Investment Trusts (REIT)** — Investing in real estate investment trusts, or "REITs", involves certain unique risks in addition to those associated with the real estate sector generally. REITs, whose underlying properties are concentrated in a particular industry or region, are also subject to risks affecting such industries and regions. REITs (especially mortgage REITs) are also subject to interest rate risks. By investing in REITs through the Fund, a shareholder will bear expenses of the REITs in addition to Fund expenses. Distributions received from the Funds' investments in REITs may be characterized as ordinary income, net capital gain, or a return of capital. The proper characterization of REIT distributions is generally not known until after the end of each calendar year. As such, the Fund must use estimates in reporting the character of its income and distributions received for financial statement purposes. The actual character of distributions to a Fund's shareholders will be reflected on the Form 1099 received by shareholders after the end of the calendar year. Due to the nature of REIT investments, a portion of the distributions received by a Fund's shareholders may represent a return of capital.

The Funds may not purchase or sell real estate or interests in real estate, including real estate limited partnerships; provided, however, that the Funds may invest in securities secured by real estate or interests therein or issued by companies, including real estate investment trusts, which invest in real estate or interests therein.

**Interest and Dividend Income** — Interest income is accrued as earned. Dividends on securities held by the Funds are recorded on the ex-dividend date. Discounts and premiums on securities purchased are amortized over the lives of the respective securities using the effective interest method. Withholding taxes on foreign dividends have been provided for in accordance with the Funds' understanding of the applicable country's tax rules and rates.

**Dividends and Distributions to Shareholders** — Net investment income distributions, if any, for Select Value Fund, Opportunity Equity Fund, Enhanced Equity Income Fund, and Texas Fund are declared and paid quarterly at the discretion of each Fund's adviser. Net capital gains for the Funds, if any, are distributed to shareholders at least annually. Distributions to shareholders, which are determined in accordance with income tax regulations, are recorded on the ex-dividend date.

The tax character of distributions paid by the Select Value Fund, Opportunity Equity Fund, Enhanced Equity Income Fund, and Texas Fund during six months ended February 28, 2026 and year ended August 31, 2025 were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**Ordinary Income** | &nbsp;&nbsp;**Ordinary Income** | &nbsp;&nbsp;**Long-Term Capital Gain** | &nbsp;&nbsp;**Long-Term Capital Gain** |
|  | &nbsp;&nbsp;**2026** | &nbsp;&nbsp;**2025** | &nbsp;&nbsp;**2026** | &nbsp;&nbsp;**2025** |
| Select Value Fund | &nbsp;&nbsp;$520596 | &nbsp;&nbsp;$175006 | &nbsp;&nbsp;$245618 | &nbsp;&nbsp;$1062381 |
| Opportunity Equity Fund | &nbsp;&nbsp;351172 | &nbsp;&nbsp;55088 | &nbsp;&nbsp;1160486 | &nbsp;&nbsp;688092 |
| Enhanced Equity Income Fund | 282054 | 1921963 |  |  |
| Texas Fund | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;1257078 | &nbsp;&nbsp;491464 |

---

**Estimates** — These financial statements are prepared in accordance with GAAP, which requires management to make certain estimates and assumptions that affect the reported amounts of assets and liabilities, disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

**Common Expenses** — Common expenses of the Trust are allocated among the Funds within the Trust based on relative net assets of each Fund or the nature of the services performed and the relative applicability to each Fund. Other allocations may also be approved from time to time by the Trustees.

**Allocation of Income and Expenses, Realized and Unrealized Capital Gains and Losses** — Income, realized and unrealized capital gains and losses on investments, and Fund-wide expenses are allocated on a daily basis to each class of shares of the Opportunity Equity Fund based upon their relative net assets. Class-specific expenses are charged directly to the respective share class.

**3. ADVISORY, SERVICING FEES AND OTHER TRANSACTIONS WITH AFFILIATES**

**Investment Advisory Agreement** 

Park Place Capital Corporation ("Park Place Capital" or the "Adviser") serves as the investment adviser to the Funds pursuant to a Management Agreement ("Management Agreement") with the Trust. Subject to the general oversight of the Trustees, the Adviser is responsible for, among other things, developing a continuing investment program for the Funds in accordance with their investment objectives, reviewing the investment strategies and policies of the Funds and advising the Trustees on the selection of sub-advisers.

Each Fund is authorized to pay the Adviser a fee based on average daily net assets at the following annual rates:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Assets** | **Select** <br> **Value Fund** | **Opportunity** **Equity Fund** | **Enhanced Equity Income Fund** | **Texas Fund** |
| Up to and including $10 million | 0.50% | 0.25% | 0.30% | 0.25% |
| From $10 million up to and including $25 million | 0.50% | 0.25% | 0.30% | 0.60% |
| From $25 up to and including $50 million | 0.50% | 0.50% | 0.30% | 0.60% |
| From $50 up to and including $100 million | 0.50% | 0.50% | 0.30% | 0.60% |
| Over $100 million | 0.50% | 0.50% | 0.30% | 0.60% |

---

For the six months ended February 28, 2026, the amounts earned by and payable to the Adviser were as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Advisory Fees Earned** | &nbsp;&nbsp;**Advisory Fees Payable as of February 28, 2026** |
| &nbsp;&nbsp;Select Value Fund | $45162 | $7301 |
| &nbsp;&nbsp;Opportunity Equity Fund | 20102 | 3123 |
| &nbsp;&nbsp;Enhanced Equity Income Fund | 21054 | 3266 |
| &nbsp;&nbsp;Texas Fund | 34832 | 6403 |

---

An officer of Park Place Capital is also an officer of the Trust.

**<u>Select Value Fund</u>** — Park Place Capital has retained Parkway Advisors, L.P. ("Parkway") to serve as the sub-adviser to Select Value Fund. Park Place Capital has agreed to pay Parkway an annual advisory fee of 0.50% of average daily net assets.

**<u>Opportunity Equity Fund</u>** — Park Place Capital has retained G.W. Henssler & Associates, Ltd. ("Henssler") to serve as the sub-adviser to Opportunity Equity Fund. Park Place Capital has agreed to pay Henssler an annual advisory fee of 0.25% of average daily net assets up to $25 million, 0.50% of such assets over $25 million.

**<u>Texas Fund</u>** — Park Place Capital has retained J. Team Financial, Inc. d/b/a Team Financial Strategies ("Team"), to serve as the sub-adviser to Texas Fund. Park Place Capital has agreed to pay Team an annual advisory fee of 0.25% of average daily net assets up to $10 million and 0.60% of such assets over $10 million.

**Investment Company Services Agreement** 

Mutual Shareholder Services, LLC ("MSS") provides fund accounting and transfer agency services to each Fund. Pursuant to services agreements, the Adviser will pay MSS customary fees for its services from the advisory fee it receives from the Funds. MSS will also provide certain shareholder report production, and EDGAR conversion and filing services. Officers of MSS are also officers of the Trust.

**Operating Service Agreement** 

The Trust has entered into an Operating Service Agreement (the "Servicing Agreement") with the Adviser. Under the Servicing Agreement, the Adviser provides all of the Funds' day-to-day operational services, excluding cost of brokerage, interest, taxes, litigation, independent trustees' fees and expenses, independent trustees' legal fees, the Trust's allocable share of the salary and related costs for the Trust's Chief Compliance Officer, and extraordinary expenses.

The Adviser is entitled to receive a fee, based on average daily net assets at the following annual rates:

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| **Assets** | **Select**<br> **Value Fund** | **Opportunity**<br> **Equity Fund**<br> **Institutional Class** | **Opportunity** **Equity Fund**<br> **Investor Class** | **Enhanced Equity Income Fund** | **Texas Fund** |
| Up to and including $10 million | 0.700% | 0.800% | 1.300% | 0.800% | 1.200% |
| From $10 million up to and including $25 million | 0.700% | 0.800% | 1.300% | 0.700% | 0.750% |
| From $25 up to and including $50 million | 0.615% | 0.500% | 1.000% | 0.600% | 0.650% |
| From $50 up to and including $100 million | 0.475% | 0.450% | 0.950% | 0.500% | 0.500% |
| Over $100 million | 0.375% | 0.400% | 0.900% | 0.450% | 0.350% |

---

As of and for the six months ended February 28, 2026, Servicing Agreement fees earned and payable to the Adviser were as follows:

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**Servicing Agreement Fees Earned** | &nbsp;&nbsp;**Servicing Agreement Fees Payable as of February 28, 2026** |
| &nbsp;&nbsp;Select Value Fund | $63227 | $10221 |
| &nbsp;&nbsp;Opportunity Equity Fund | 89109 | 13813 |
| &nbsp;&nbsp;Enhanced Equity Income Fund | 54085 | 8387 |
| &nbsp;&nbsp;Texas Fund | 87761 | 14813 |

---

**Distribution Agreement**

Arbor Court Capital serves as each Fund's distributor (the "Distributor"). The Distributor is not affiliated with the Adviser but is an affiliate of MSS. Pursuant to the agreement, the Adviser will pay Arbor Court Capital customary fees for its services from the advisory fee it receives from the Funds.

**Compliance Services** 

An affiliated Contractor (the "Contractor") serves as the CCO of the Trust. The Funds pay $110,000 annually and a discretionary bonus of $4,000 to the Contractor for providing CCO services. Each Fund pays an annual fee of $5,000 with the remaining amount allocated to the Funds based on aggregate average daily net assets. For the six months ended February 28, 2026, the CCO received a total of $54,465.

**4. SECURITIES TRANSACTIONS**

During the six months ended February 28, 2026, cost of purchases and proceeds from sales and maturities of investment securities, excluding short-term investments, U.S. government securities, and securities sold short, were as follows:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;**Sales** |
| Select Value Fund | &nbsp;&nbsp;$6891959 | &nbsp;&nbsp;$6821250 |
| Opportunity Equity Fund | &nbsp;&nbsp;1359464 | &nbsp;&nbsp;2016608 |
| Enhanced Equity Income Fund | &nbsp;&nbsp;6703967 | &nbsp;&nbsp;6244916 |
| Texas Fund | &nbsp;&nbsp;9351344 | &nbsp;&nbsp;7616463 |

---

There were no purchases or sales of U.S. government securities made by the Funds.

**5. TAX MATTERS** 

It is each Fund's intention to comply with the special provisions of Subchapter M of the Internal Revenue Code applicable to regulated investment companies. As provided therein, in any fiscal year in which a Fund so qualifies and distributes at least 90% of its taxable income, such Fund (but not the shareholders) will be relieved of federal income tax on the income distributed. Accordingly, no provision for income taxes has been made.

In order to avoid imposition of the excise tax applicable to regulated investment companies, it is also each Fund's intention to declare as dividends, in each calendar year, at least 98% of its net investment income and 98.2% of its net realized capital gains plus undistributed amounts from prior years.

The Funds' tax basis distributable earnings (deficit) are determined only at the end of each fiscal year. The tax character of distributable earnings (deficit) at August 31, 2025, the Funds' most recent fiscal year end, was as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Tax character of distributable earnings (deficit)** | &nbsp;&nbsp;**Select Value Fund** | &nbsp;&nbsp;**Opportunity Equity Fund** | &nbsp;&nbsp; **Enhanced Equity** <br> **Income Fund** | &nbsp;&nbsp;**Texas Fund** |
| Unrealized Appreciation (Depreciation) | &nbsp;&nbsp;$306406 | &nbsp;&nbsp;$1212798 | &nbsp;&nbsp;$(187370) | &nbsp;&nbsp;$4784895 |
| Undistributed Ordinary Income (Loss) | &nbsp;&nbsp;304532 | &nbsp;&nbsp;342376 | &nbsp;&nbsp;134163 | &nbsp;&nbsp;- |
| Undistributed Capital Gains (Losses) | &nbsp;&nbsp;236800 | &nbsp;&nbsp;1160482 | &nbsp;&nbsp;- | &nbsp;&nbsp;393747 |
| Capital Loss Carryforward | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| Post-December Ordinary Loss | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;(6887) |
| Post-October Capital Loss | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| Total Distributable Earnings/(Deficit) | &nbsp;&nbsp;$847738 | &nbsp;&nbsp;$2715656 | &nbsp;&nbsp;$(53207) | &nbsp;&nbsp;$5171755 |

---

The difference between book basis and tax basis unrealized appreciation (depreciation) from investments is primarily attributable to the tax deferral of losses on wash sales and return of capital from underlying investments. Permanent book and tax differences, primarily attributable to net operating losses resulted in reclassification for the Texas Fund for the fiscal year ended August 31, 2025 as follows:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**Paid-in Capital** | &nbsp;&nbsp; **Total Distributable** <br> **Earnings/(Deficit)** |
| &nbsp;&nbsp;Texas Fund | &nbsp;&nbsp;$(1009) | $&nbsp;&nbsp;&nbsp;&nbsp;1009 |

---

Under current tax law, certain capital losses realized after October 31, and certain ordinary losses realized after December 31 but before the end of the fiscal year ("Post-October Losses" and "Late Year Losses", respectively) may be deferred and treated as occurring on the first business day of the following fiscal year. The Texas Fund incurred and elected to defer $6,887 of such post-December losses.

The following information is based upon the federal income tax cost of the investment securities as of August 31, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; <br>**Fund** | &nbsp;&nbsp; <br>**Cost** | &nbsp;&nbsp;**Gross Unrealized Appreciation** | &nbsp;&nbsp;**Gross Unrealized Depreciation** | &nbsp;&nbsp;**Net Unrealized Appreciation (Depreciation)** |
| Select Value Fund | &nbsp;&nbsp;$17215906 | &nbsp;&nbsp;$2088618 | &nbsp;&nbsp;$(1782212) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 306406 |
| Opportunity Equity Fund | &nbsp;&nbsp;14567537 | &nbsp;&nbsp;1512238 | &nbsp;&nbsp;(299440) | &nbsp;&nbsp;1212798 |
| Enhanced Equity Income Fund | &nbsp;&nbsp;13108207 | &nbsp;&nbsp;880022 | &nbsp;&nbsp;(1067392) | &nbsp;&nbsp;(187370) |
| Texas Fund | &nbsp;&nbsp;10486395 | &nbsp;&nbsp;4890677 | &nbsp;&nbsp;(105782) | &nbsp;&nbsp;4784895 |

---

The Funds recognize the tax benefits of uncertain tax positions only when the position is "more likely than not" to be sustained assuming examination by tax authorities. Management has reviewed the tax positions in all open tax years and has concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken in open tax years. The Funds identify their major tax jurisdictions as U.S. Federal and Delaware. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statements of Operations as incurred. During the year ended August 31, 2025 the Funds did not incur any interest or penalties. The Funds are not subject to examination by U.S. Federal tax authorities for tax years before 2022.

**6. CONTROL OWNERSHIP**

The beneficial ownership, either directly or indirectly, of more than 25% of the voting securities of a fund creates presumption of control of the fund under Section 2(a)(9) of the Investment Company Act of 1940. As of February 28, 2026, the shareholders listed in the table immediately below held, for the benefit of their customers, the following percentages of the outstanding shares of each Fund.

---

| | | |
|:---|:---|:---|
| **Fund** | **Shareholder** | **Percent Owned as of <br> February 28, 2026** |
| Select Value Fund | NFS, LLC | 60% |
| Select Value Fund | Raymond James & Assoc., Inc. | 35% |
| Opportunity Equity Fund | Charles Schwab & Co., Inc. | 31% |
| Enhanced Equity Income Fund | Fifth Third Bank | 83% |
| Texas Fund | Charles Schwab & Co., Inc. | 29% |
| Texas Fund | NFS, LLC | 69% |

---

**7. CONTINGENCIES AND COMMITMENTS**

The Funds indemnify the Trust's officers and Trustees for certain liabilities that might arise from the performance of their duties to the Funds. Additionally, in the normal course of business the Funds enter into contracts that contain a variety of representations and warranties and which provide general indemnifications. Each Fund's maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Funds that have not yet occurred. However, based on experience, the Funds expect the risk of loss to be remote.

**8. SECTOR AND GEOGRAPHIC RISKS**

When the Funds emphasize one or more economic sectors, it may be more susceptible to the financial, market, or economic events affecting the particular issuers and industries in which they invest than funds that do not emphasize particular sectors. The more a fund diversifies, the more it spreads risk and potentially reduces the risks of loss and volatility.

The Texas Fund's investments are concentrated in Texas, and therefore the Fund will be susceptible to adverse market, political, regulatory, social, economic and geographic events affecting Texas. The Fund's performance may be more volatile than the performance of more geographically diverse funds. Since one of the main industries in Texas is mining and logging, including the oil and gas sectors, Texas is particularly susceptible to economic, environmental and political activities affecting this industry.

**9. OPTIONS RISK**

The Enhanced Equity Income and Texas Funds' use of options subjects the Funds to certain investment risks and transaction costs to which it might not otherwise be subject. These risks include: (i) dependence on the Adviser or Sub-adviser's ability to predict movements in the prices of individual securities and fluctuations in the general securities markets; (ii) imperfect correlations between movements in the prices of options and movements in the price of the securities (or indices) hedged or used for cover, which may cause a given hedge not to achieve its objective; (iii) the fact that the skills and techniques needed to trade these instruments are different from those needed to select the securities in which the Funds invest; (iv) lack of assurance that a liquid secondary market will exist for any particular instrument at any particular time, which, among other things, may hinder the Funds' ability to limit exposures by closing its positions; and, (v) the possible need to defer closing out of certain options to avoid adverse tax consequences. Other risks include the inability of the Funds, as the writer of covered call options, to benefit from any appreciation of the underlying securities above the exercise price, and the possible loss of the entire premium paid for options purchased by the Funds. See Note 2 for additional disclosures related to options transactions.

**10. MARKET RISK**

Overall market risks may also affect the value of the Fund. Factors such as domestic economic growth and market conditions, interest rate levels and political events affect the securities markets. Local, regional or global events such as war, acts of terrorism, the spread of infectious illness or other public health issue, recessions and depressions, or other events could have a significant impact on the Fund and its investments and could result in increased liquidity risk. The Fund could lose money over short periods due to short-term market movements and over longer periods during more prolonged market downturns. During a general market downturn, multiple asset classes may be negatively affected. Changes in market conditions and interest rates can have the same impact on all types of securities and instruments.

**11. SUBSEQUENT EVENTS** 

On March 26, 2026, the Select Value Fund declared a dividend from net investment income of $33,278, which was payable on March 27, 2026. On March 26, 2026, the Opportunity Equity Fund declared a dividend from net investment income of $7,177, which was payable on March 27, 2026. On March 26, 2026, the Enhanced Equity Income Fund declared a dividend from net investment income of $5,988 and a short-term capital gain distribution of $35,000, which were payable on March 27, 2026. On March 26, 2026, the Texas Fund declared a dividend from net investment income of $1,558, which was payable on March 27, 2026.

Management has evaluated subsequent events through the issuance of the financial statements and, other than those already disclosed in the notes to the financial statements, has noted no other such events that would require recognition or disclosure.

**Monteagle Funds**

Additional Information

February 28, 2026 (Unaudited)

**Proxy Policies** — The Trust has adopted Proxy Voting Policies and Procedures under which the Funds vote proxies related to securities held by the Funds. A description of the Funds' policies and procedures is available without charge, upon request, by calling the Funds toll free at 1-888-263-5593, on the Funds' website at http://www.monteaglefunds.com or on the SEC website at http://www.sec.gov.

In addition, the Funds are required to file Form N-PX, with their complete voting record for the 12 months ended June 30th, no later than August 31st of each year. The Funds' Form N-PX is available without charge, upon request, by calling the Funds toll free at 1-888-263-5593, on the Funds' website at http://www.monteaglefunds.com or on the SEC's website at http://www.sec.gov.

**N-PORT Filing** — The SEC has adopted the requirement that all mutual funds file a complete schedule of investments with the SEC for their first and third fiscal quarters on Form N-PORT. For the Monteagle Funds, this would be for the fiscal quarters ending November 30 and May 31. The Form N-PORT filing must be made within 60 days of the end of the quarter. The Funds' Forms N-PORT are available on the SEC's website at http://www.sec.gov., or they may be reviewed and copied at the SEC's Public Reference Room in Washington, DC (call 1-800-732-0330 for information on the operation of the Public Reference Room).

**Annual Renewal of the Management Services Agreement between Park Place Capital Corporation and the Monteagle Funds, and the Sub-advisory Agreements between Park Place Capital Corporation and each Monteagle Funds' Sub-Advisor.** 

At an initial meeting held on October 7, 2025 and the subsequent meeting October 23, 2025, (the Meetings"), the Board of Trustees (the "Board" or the "Trustees") of the Monteagle Funds (the "Trust"), including a majority of the Trustees who are neither parties to the Monteagle Management Services Agreement **n**or a sub-advisory agreement of a Monteagle Fund, or "interested persons" of any such party (the "Independent Trustees"), unanimously determined to renew the Management Services Agreement (the "Advisory Agreement"), between the Trust, on behalf of its respective series (each, a "Fund" and together, the "Funds") and Park Place Capital Corporation ("PPCC" or the "Advisor") and the Investment Sub-Advisory Agreements (the "Sub-Advisory Agreements"), between the Advisor and Parkway Advisors, L.P. with respect to the Monteagle Select Value Fund; the Advisor and J. Team Financial, Inc. with respect to The Texas Fund; and the Advisor and G.W. Henssler & Associates, Ltd. with respect to the Monteagle Opportunity Equity Fund (each, a "Sub-Advisor"). The Independent Trustees, represented by their independent legal counsel ("Counsel"), met on two (2) separate occasions, considered the approval of the renewal of these Agreements, during which they discussed and evaluated responsive materials which the Advisor and each Sub-advisor provided by their respective specific requests relating to the review process.

In reviewing the Advisory Agreement and each Sub-advisory Agreement, the Trustees considered its legal duties and responsibilities under the Investment Company Act of 1940, as amended (the "1940 Act"); the requirements of the 1940 Act in such matters; the fiduciary duty of Advisor with respect to the Advisory and Sub-advisory Agreements and their compensation under such agreements; the standards used by the courts in determining whether investment company boards have fulfilled their duties; and the factors to be considered by the Trustees in voting on the approval of such agreements. The Trustees requested and received various reports from the Advisor and each Sub-advisor in advance of the Trustees meeting that, among other things, outlined the services provided by the Advisor and each Sub-Advisor to the Funds (including the relevant personnel responsible for these services and their experience); performance information for each Fund; the advisory fees for the Funds as compared to fees charged by investment Advisors to comparable funds; the expense ratio of each Fund as compared to expense ratios of comparable funds; the potential for economies of scale, if any; financial data on the Advisor and each Sub-Advisor; any fall out benefits to the Advisor; and the Advisor's and each Sub-advisor's compliance program.

In considering the renewal of the Advisory and each Fund's Sub-advisory Agreement, the Trustees, at the Meetings, reviewed with the Advisor the materials provided in advance of the Meetings. The Trustees, composed entirely of Independent Trustees, also met independently of management to review and discuss the materials received from the Advisor, each Sub-Advisor and Trust counsel. Each Trustee applied their reasonable business judgment to determine whether the continuation of the Advisory Agreement and each Sub-advisory Agreement, independently, is a reasonable business arrangement. The Trustees determined that, given the totality of the information provided with respect to the Advisory Agreement and each Sub-advisory Agreement, exercising their reasonable business judgment, received sufficient information to renew the Advisory Agreement and each Sub-advisory Agreement. In determining to renew the Agreements for each Fund, the Trustees did not identify any single factor or group of factors as all important or controlling and considered all factors together, and each Trustee may have afforded different weight to a range of factors set forth below.

At the Meetings, Counsel advised the Trustees, all of which are Independent Trustees, of their statutory and fiduciary obligations in determining whether to approve the renewal of the Advisory Agreement and Sub-advisory Agreement. In connection with their consideration of these matters, the Independent Trustees, through their Counsel, requested such information in accordance with Section 15(c) of the 1940 Act, as well as information received throughout the year, both in writing and discussions during the regular quarterly Board meetings, regarding each Fund, provided by the Advisor and each Sub-Advisor as they deemed reasonably necessary to evaluate the terms of the Advisory Agreement and Sub-advisory Agreement, and whether the continuation of each Agreement continue is in the best interest of each Fund and its shareholders, and the Advisor provided both written and oral information responsive to the Trustees' requests.

The Trustees reviewed various materials they deemed relevant or necessary to consider the approval of the continuation of the Advisory Agreement and each Sub-advisory Agreement. Such materials were received in advance of the meeting. The materials received addressed the nature, extent and quality of services provided by the Advisor and each Sub-Advisor, the comparative investment performance of each Fund, the fees of each Fund, and the expense information for an appropriate peer group of similar mutual funds for each Fund (each, a "Peer Group"), the investment performance information for the relevant benchmark for each Fund (each, a "Fund Benchmark"), other relevant matters, and other information which was provided to the Trustees on a periodic basis throughout the year. Prior to voting on the approval of the renewals, the Independent Trustees: (a) received materials from their independent legal counsel discussing the legal standards applicable to their consideration of the Advisory Agreement and each Sub-advisory Agreement; (b) reviewed the foregoing information with their independent legal counsel; and (c) met in two (2) separate meetings with their independent legal counsel, during which one (1) meeting was in a private sessions at which no representatives of management were present. Throughout the process, the Trustees had the opportunity to ask questions and receive answers from representatives of the Advisor and each Subadvisor the Trustees deemed relevant from the materials provided and comments made through various discussions of relevant evaluative factors.

The following summary reflects the Trustees' consideration of certain of these factors:

*Nature, Extent and Quality of the Services Provided*. The Trustees considered various aspects of the nature, extent, and quality of the services provided by the Advisor and each Sub-Advisor of the Monteagle Funds. The Trustees noted that the responsibilities of the Advisor and each Sub-Advisor under each Agreement had not changed since the last renewal, the Board considered the following items as part of their determination: (i) the quality of the investment advisory and sub-advisory services (including research and recommendations with respect to each Fund's portfolio holdings); (ii) the background, experience and professional ability and skill of the portfolio management personnel assigned to the particular Fund, noting the commitment to hire and retain qualified personnel to work on behalf of the Monteagle Funds and their shareholders; (iii) the processes used for formulating investment recommendations and assuring compliance with each Fund's investment objectives and limitations, (iv) ensuring the compliance with regulatory requirements, specifically noting that neither the Advisor nor any Sub-Advisor reported any material compliance matter over the last year; (v) the way the Sub-Advisors seek to satisfy their obligation to assure "best execution" in connection with securities transactions placed for the Funds, noting that each of the Sub-Advisors has provided its policies and procedures related to trading and brokerage; (vi) the investment strategies and sources of information upon which the Advisor and each Sub-Advisor relies in making investment decisions for the Funds; (vii) the oversight of the Funds' portfolios by the Sub-Advisors and the Advisor and the oversight of the Sub-Advisors by the Advisor; (viii) each Sub-Advisor's succession plans and business continuity plans; and (viii) the coordination of services for the Funds among the service providers, Trust management and the Trustees.

The Trustees confirmed that the Advisor and each Monteagle Fund's Sub-Advisor has taken appropriate safeguards to ensure that each Fund's investment objective, strategy and limitations have been met and that there have been no compliance issues found with either the Advisor or any Sub-Advisor over the past year. The Trustees acknowledged that the Advisor has raised no concerns or objections to the continuation of the agreements with each Monteagle Fund's subadvisor. After reviewing and considering the foregoing information, along with further information derived from their long-standing relationship with each, the Trustees concluded that the nature, extent and quality of the services provided by the Advisor and each of the Sub-Advisors, were satisfactory and adequate for each respective Fund.

*Investment Performance of the Funds, the Advisor and the Sub-Advisors*. The Trustees acknowledged that the Advisor has delegated day-to-day portfolio management to each Sub-Advisor of its sub-advised Fund and that the Advisor's role regarding investment performance was largely one of oversight. The Trustees also recognized that, unlike the other Monteagle Funds, the Advisor was responsible for the day-to-day management of the Monteagle Enhanced Equity Income Fund. The Trustees considered the information regarding the Advisor's personnel fulfilling these roles, as well as the information about each Sub-Advisor's investment team managing each of the Funds' portfolios day-to-day.

In their evaluation of performance, the Trustees compared the short- and long-term performance of each Monteagle Fund with the performance of its benchmark, its peer group with similar objectives managed by other investment Advisors, and aggregated data by category. The Trustees both annually and during their regular quarterly meetings, considered year-to-date and annual performance analytics for 1-, 3-, 5-, and 10-year(s) periods as well as performance since each Fund's inception. In general, the Trustees emphasized the long-term investment performance.

In this regard, the Trustees made the following observations:

As to the *Monteagle Select Value Fund*, the Trustees, among other performance metrics, noted that the Fund's comparative index is the S&P 500 and its comparative category was the mid-cap value category. They recognized that the dispersion of return is relatively narrow relative to the year-to-date comparisons. The Trustees noted that the Fund's standard deviation was lower than the benchmark and it was also lower on a 5-year and 10-year basis in the Fund's risk/return statistics compared to its mid-cap value category. The Trustees noted that the Fund had $17.5M in assets under management as of August 31, 2025 and that the Fund enjoyed positive returns during the end of this period due to the Fund's equity performance and stock selection. The Trustees recognized that growth stocks outperformed value, accordingly, the Fund's returns were below the S&P 500's return of 15.88% yet still returned 6.17% during the fiscal year. However, this return was slightly higher than the S&P 500 Value Index (SVX) return of 6.07%.. In addition, the Trustees noted that the Fund's 1-, 5- and 10-year performance figures comparatively to the S&P 500 Index were 6.17%, 14.75% and 8.57 to 15.88%, 14.75 and 14.60%, respectively.

As to the *Monteagle Opportunity Equity Fund*, the Trustees recognized that the Fund is a multi-class fund with an Institutional Class and an Investor Class. The Trustees noted that as of August 31, 2025, the Investor Class and the Institutional Class held $15.7M of assets under management. Among other statistically performance figures, the Trustees noted that the year to date through August 31<sup>st</sup>, the Fund's Investor Class returned 8.09% compared to 10.78% for the S&P 500 and 5.27% for the S&P 400 while the Institutional Class returned 10.19% compared to 9.62% for the S&P 500 and 8.83% for the S&P Mid 400. The Trustees noted that on a one-year lookback the Fund returned 7.43% against a 15.88% gain for the S&P 500 and a 6.84% gain for the S&P Mid 400. The Trustees noted that with regard to the Fund's Investor Class, the 1-, 5- and 10-year performance figures comparatively to the S&P 500 Index were 7.43%, 11.64% and 9.06% to 15.88%, 14.75 and 14.60%, respectively, while the Institutional Class 8.06%, 12.17% and 9.59% to 15.88%, 14.75 and 14.60%, respectively.

As to the *Texas Fund*, the Trustees noted that the Fund had $13.7M assets under management as of September 1, 2024 and the Fund was up 19.87% over the last thirty-six (36) months. The Trustees noted that although the Fund is underperforming the S&P 500 in all reported time periods, it is outperforming its Mid-Cap Blend category on a 3- and 5-year basis. The Trustees recognized that Fund's unique investment strategy does not afford the Fund a readily comparable group. They further noted that the Fund's higher risk exposure and underperformance can be attributed to the higher exposure to more volatile small cap holdings and a lower R<sup>2</sup> and high tracking error, highlighting how the Fund is not necessarily aligned with the S&P 500 or the Mid-Cap Blend category.

As to the *Monteagle Enhanced Equity Income Fund*, the Trustees noted that the Fund's inception date was February 1, 2023. The Trustees recognized that the performance comparable figures were short-term. The Fund enjoyed positive returns for the year ended August 31, 2025 noting that the 1-year and since inception performance figures comparatively to the CBOE S&P 500 Buy Write Monthly Index and S&P 500 Index were 8.41% and 12.61%, 7.72% and 10.68, and 15.88%, 21.79, respectively.

After considering and discussing the performance of each of the Funds further, the Advisor's and each Sub-Advisor's experience and the historical and comparative performance data provided, and other relevant information, the Trustees concluded that the investment performance of each of the Monteagle Funds was satisfactory.

*The Costs of the Services Provided and Profits Realized by the Advisor and the Sub-Advisors from their Relationships with the Funds.* As to the costs of the services provided and the profits realized by the Advisor and each Sub-Advisor from their relationships with the Funds, the Trustees considered the overall expenses of each Fund including those associated with the Operating Services Agreement between the Advisor and each Fund, as compared to its peer group and the level of commitment to the Funds by the principals of the Advisor and Sub-Advisors with respect to their roles for the Funds. The Trustees reviewed and considered financial information relating to the profitability of the Advisor and each Sub-Advisor. The Trustees also considered the nature and frequency of the advisory and sub-advisory fee payments, the asset levels of each Fund, and the expenses of each Fund as compared to the expenses of each Fund's category and those Funds which may be considered similar.

Upon further consideration, the Trustees concluded, considering all the facts and circumstances, that the costs of the services provided to the Funds and the profits realized by the Advisor and each Sub-Advisor from its respective relationships with the Funds, were satisfactory.

*Economies of Scale*. The Trustees next considered the extent to which economies of scale would be realized if the Funds grow and whether the advisory fee levels reflect those economies of scale for the benefit of the Funds' shareholders. In this regard, the Trustees considered the breakpoints in effect on the advisory fee schedule for each of the Funds at various asset levels, which are aimed at sharing with shareholders any economies of scale that are realized from Fund growth. The Trustees also noted that certain of the Sub-advisory fee schedules also have breakpoints at various asset levels. As stated earlier in the meeting. The Board recognized that such breakpoints will only be afforded by the shareholder as the assets of the Fund grow.

After considering these factors, the Trustees concluded that the fee levels and breakpoints were satisfactory and adequate to reflect economies of scale for the benefit of each Fund's shareholders as the Fund grows.

*Other Benefits Derived by the Advisor or Sub-Advisors from their Relationships with the Funds and Conflicts of Interest.* The Trustees also considered other benefits that the Advisor or Sub-Advisors derive from their relationship with the Funds (sometimes referred to as "fall-out" benefits) and potential conflicts of interest. The Board indicated, and as confirmed by the Advisor and each Subadvisor, that it is not aware of any conflicts of interest existing with the Advisor and each Subadvisor's representation of the Monteagle Funds. The Board noted that the Advisor also is contractually engaged under an Operating Services Agreement with each Monteagle Fund which is an added benefit to the Advisor resulting from their relationship with the Monteagle Funds.

After reviewing and considering the foregoing information and other information they deemed relevant regarding these matters, the Trustees concluded that the benefits derived by the Advisor or Sub-Advisors from their relationships with the Funds were satisfactory.

In addition to the foregoing, management of the Monteagle Funds confirmed that the Advisor recommends to the Board that each of the Sub-advisor Agreements be renewed as proposed.

*Conclusion.* Having requested and received such information from the Advisor and each Sub-Advisor as the Independent Trustees of the Board of Trustees believed to be reasonably necessary to evaluate the renewal of each Advisory Agreement and each Sub-Advisory Agreement, independent of the other, and upon the advice of their legal counsel, the Trustees, using their reasonable business judgment, unanimously concluded that the terms of each Advisory Agreement and each Sub-Advisory Agreement is a reasonable business arrangement and that the approval of each Advisory Agreement and each Sub-Advisory Agreement is in the best interests of the Trust and each Fund's shareholders.

![](image_016.gif)

**THE MONTEAGLE FUNDS**

**Investment Adviser** 

Park Place Capital Corporation

2728 19<sup>th</sup> Place South, Suite 160

Homewood, AL 35209

**Distributor** 

Arbor Court Capital, LLC.

8000 Town Centre Drive, Suite 400

Broadview Heights, OH 44147

**Transfer Agent, Administrator** 

**& Shareholder Servicing Agent** 

Mutual Shareholder Services, LLC.

8000 Town Centre Drive, Suite 400

Broadview Heights, OH 44147

**(888) 263-5593** 

**www.monteaglefunds.com**

This report is submitted for the general information of the shareholders of the Funds. It is not authorized for distribution to prospective investors in the Funds unless preceded or accompanied by a current prospectus, which includes information regarding each Fund's objectives and policies, experience of its management, marketability of shares, and other information.

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.** Not applicable.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.** Not applicable.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.** The information is included as part of the material filed under Item 7 of this Form.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract**. The information is included as part of the material filed under Item 7 of this Form.

**Item 12. Disclosure of Closed End fund Proxy Voting Policies/Procedures.** Not applicable.

**Item 13. Portfolio Managers of Closed-End Funds.** Not applicable.

**Item 14. Purchases of Equity Securities by Closed End Funds.** Not applicable.

**Item 15. Submission of Matters to a Vote of Security Holders.** Not applicable.

**Item 16. Controls and Procedures.**

(a)&nbsp;&nbsp;&nbsp;&nbsp; Disclosure Controls & Procedures. Principal executive and financial officers have concluded that Registrant's disclosure controls & procedures are effective based on their evaluation as of a date within 90 days of the filing date of this report.

(b)&nbsp;&nbsp;&nbsp;&nbsp; Internal Controls. There were no significant changes in Registrant's internal controls of in other factors that could significantly effect these controls subsequent to the date of their evaluation, including any corrective actions with regard to significant deficiencies and material weaknesses.

**Item 17. Securities Lending Activities for Closed-End Management Investment Companies.** Not applicable.

**Item 18. Recovery of Erroneously Awarded Compensation.**

(a) Not applicable.

(b) Not applicable.

**Item 19. Exhibits.**

(a)(1) EX-99.CODE ETH. Not Applicable.

(a)(2) EX-99.CERT. Filed herewith.

(a)(3) Any written solicitation to purchase securities under Rule 23c-1 under the Act (17 CFR 270.23c-1) sent or given during the period covered by the report by or on behalf of the registrant to 10 or more persons. Not applicable.

(b)&nbsp;&nbsp;&nbsp;&nbsp; EX-99.906CERT. Filed herewith.

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

<u>Monteagle Funds</u>

By <u>/s/ Paul B. Ordonio</u>

&nbsp;&nbsp;&nbsp;&nbsp;\* Paul B. Ordonio

&nbsp;&nbsp;&nbsp;&nbsp; President and Principal Executive Officer

Date <u>May 4, 2026</u>

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

By <u>/s/ Paul B. Ordonio</u>

&nbsp;&nbsp;&nbsp;&nbsp;\* Paul B. Ordonio

&nbsp;&nbsp;&nbsp;&nbsp; President and Principal Executive Officer

Date <u>May 4, 2026</u>

By <u>/s/ Umberto Anastasi</u>

&nbsp;&nbsp;&nbsp;&nbsp;\* Umberto Anastasi

&nbsp;&nbsp;&nbsp;&nbsp; Treasurer and Principal Financial Officer

Date <u>May 4, 2026</u>

\* Print the name and title of each signing officer under his or her signature.

## Ex-99.Cert

<u>CERTIFICATION</u>

I, Paul B. Ordonio, certify that:

1. I have reviewed this report on Form N-CSR of Monteagle Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: <u>May 4, 2026</u>

<u>/s/ Paul B. Ordonio</u>

Paul B. Ordonio

President and Principal Executive Officer

<u>CERTIFICATION</u>

I, Umberto Anastasi, certify that:

1. I have reviewed this report on Form N-CSR of Monteagle Funds;

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations, changes in net assets, and cash flows (if the financial statements are required to include a statement of cash flows) of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have:

(a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

(b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

(c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report based on such evaluation; and

(d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and

5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions):

(a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and

(b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting.

Date: <u>May 4, 2026</u>

<u>/s/ Umberto Anastasi</u>

Umberto Anastasi

Treasurer and Principal Financial Officer

## Exhibit 99.906

EX-99.906CERT

**CERTIFICATION**

<u>Paul B. Ordonio</u>, President and Principal Executive Officer, and <u>Umberto Anastasi</u>, Treasurer and Principal Financial Officer of <u>Monteagle Funds</u> (the "Registrant"), each certify to the best of his or her knowledge that:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1. The Registrant's periodic report on Form N-CSR for the period ended February 28, 2026 (the "Form N-CSR") fully complies with the requirements of Sections 15(d) of the Securities Exchange Act of 1934, as amended; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of the Registrant.

President and Principal Executive

Treasurer and Principal Financial

Officer Officer

Monteagle Funds

Monteagle Funds

/s/ <u>Paul B. Ordonio</u>

/s/ <u>Umberto Anastasi</u>

Paul B. Ordonio

Umberto Anastasi

Date: May 4, 2026

Date: May 4, 2026

A signed original of this written statement required by Section 906 of the Sarbanes-Oxley Act of 2002 has been provided to <u>Monteagle Funds</u> and will be retained by <u>Monteagle Funds</u> and furnished to the Securities and Exchange Commission (the "Commission") or its staff upon request.

This certification is being furnished to the Commission solely pursuant to 18 U.S.C. § 1350 and is not being filed as part of the Form N-CSR filed with the Commission.

<br>