# EDGAR Filing Document

**Accession Number:** 0000778206
**File Stem:** 0002000324-25-004157
**Filing Date:** 2025-10
**Character Count:** 39272
**Document Hash:** 2abba230e1ff67489986303117e8030b
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004157.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0002000324-25-004157

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SHELTON FUNDS
- **CENTRAL INDEX KEY:** 0000778206

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04417
- **FILM NUMBER:** 251436026

**BUSINESS ADDRESS:**
- **STREET 1:** 1875 LAWRENCE STREET
- **STREET 2:** SUITE 300
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-1805
- **BUSINESS PHONE:** 4153982727

**MAIL ADDRESS:**
- **STREET 1:** 1875 LAWRENCE STREET
- **STREET 2:** SUITE 300
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-1805

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CALIFORNIA INVESTMENT TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** CALIFORNIA INVESTMENT TRUST I
- **DATE OF NAME CHANGE:** 19870115

## Series and Classes Contracts Data

### Nasdaq-100 Index Fund (Series ID: S000016026)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000044037 | K Shares        | NDXKX           |
| C000044038 | Investor Shares | NASDX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SHELTON FUNDS

- **b. Investment Company Act file number:** 811-04417

- **c. CIK number of Registrant:** 0000778206

- **d. LEI of Registrant:** 254900S73SCF59AAL583

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1125 17th Street, Ste. 2550

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80202-1805

  - **Telephone number:** 800-955-9888

**Item A.2. Information about the Series.**

- **a. Name of Series:** Nasdaq-100 Index Fund

- **b. EDGAR series identifier (if any):** S000016026

- **c. LEI of Series:** 2549005MCC0WV388D103

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $1989583004.98

**Total Liabilities:** $985963.81

**Net Assets:** $1988597041.17

**Cash Not Reported:** $562133.47

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000044038 | 0.86%                | 2.35%                | 6.31%                |
| Class ID C000044037 | 0.83%                | 2.37%                | 6.26%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-8053774.94             | $24566581.27                               |
| Month 2  | $4777652.45              | $41302369.16                               |
| Month 3  | $1992479.27              | $113590530.54                              |

### Schedule of Portfolio Investments

| Name                                 | Title                                                 | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Mercadolibre Inc                     | Mercadolibre Inc COM USD0.001                         | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |      5600 | NS      | $13848296.00  | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Advanced Micro Devices Inc.          | Advanced Micro Devices Inc. COM USD0.01               | CUSIP: 007903107<br>LEI: R2I72C950HOYXII45366 | Long             | EC               | CORP              | US        |    179121 | NS      | $29130448.23  | 1.46%             |  |  |  | No            |                  1 | On Loan: No      |
| QUALCOMM Inc.                        | QUALCOMM Inc. COM USD0.0001                           | CUSIP: 747525103<br>LEI: H1J8DDZKZP6H7RWC0H53 | Long             | EC               | CORP              | US        |    121299 | NS      | $19496388.27  | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Pepsico Inc                          | Pepsico Inc CAP USD0.016666                           | CUSIP: 713448108<br>LEI: FJSUNZKFNQ5YPJ5OT455 | Long             | EC               | CORP              | US        |    135535 | NS      | $20147277.75  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Microsoft Corp.                      | Microsoft Corp. COM USD0.00000625                     | CUSIP: 594918104<br>LEI: INR2EJN1ERAN0W5ZP974 | Long             | EC               | CORP              | US        |    335861 | NS      | $170177410.10 | 8.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Booking Holdings Inc                 | Booking Holdings Inc COM USD0.008                     | CUSIP: 09857L108<br>LEI: FXM8FAOHMYDIPD38UZ17 | Long             | EC               | CORP              | US        |      3594 | NS      | $20122985.70  | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Atlassian Corporation                | Atlassian Corporation CL A                            | CUSIP: 049468101<br>LEI: 549300V7ZY5P02D2MY38 | Long             | EC               | CORP              | US        |      8067 | NS      | $1434151.26   | 0.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertex Pharmaceuticals Incorporated  | Vertex Pharmaceuticals Incorporated COM USD0.01       | CUSIP: 92532F100<br>LEI: 54930015RAQRRZ5ZGJ91 | Long             | EC               | CORP              | US        |     28369 | NS      | $11092846.38  | 0.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Take-Two Interactive Software Inc.   | Take-Two Interactive Software Inc. COM USD0.01        | CUSIP: 874054109<br>LEI: BOMSTHHJK882EWYX3334 | Long             | EC               | CORP              | US        |     19960 | NS      | $4656069.20   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV                | NXP Semiconductors NV EUR0.20                         | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |     28200 | NS      | $6622770.00   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Gilead Sciences Inc.                 | Gilead Sciences Inc. COM USD0.001                     | CUSIP: 375558103<br>LEI: 549300WTZWR07K8MNV44 | Long             | EC               | CORP              | US        |    137420 | NS      | $15524337.40  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Tesla Inc                            | Tesla Inc COM USD0.001                                | CUSIP: 88160R101<br>LEI: 54930043XZGB27CTOV49 | Long             | EC               | CORP              | US        |    163432 | NS      | $54565041.84  | 2.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Netflix, Inc.                        | Netflix, Inc. COM USD0.001                            | CUSIP: 64110L106<br>LEI: 549300Y7VHGU0I7CE873 | Long             | EC               | CORP              | US        |     47014 | NS      | $56804665.50  | 2.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Shopify Inc                          | Shopify Inc COM NPV CL A                              | CUSIP: 82509L107<br>LEI: 549300HGQ43STJLLP808 | Long             | EC               | CORP              | CA        |    134571 | NS      | $19012190.88  | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems, Inc.         | Cadence Design Systems, Inc. COM USD0.01              | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |     30163 | NS      | $10570020.09  | 0.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                      | Xcel Energy Inc COM USD2.5                            | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     63716 | NS      | $4612401.24   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Workday Inc                          | Workday Inc COM USD0.001 CL A                         | CUSIP: 98138H101<br>LEI: 549300J0DYC0N31V7G13 | Long             | EC               | CORP              | US        |     23369 | NS      | $5394032.58   | 0.27%             |  |  |  | No            |                  1 | On Loan: —       |
| ASML Holding N.V.                    | ASML Holding N.V. NY REGISTRY SHS                     | CUSIP: N07059210<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |      9655 | NS      | $7169996.10   | 0.36%             |  |  |  | No            |                  1 | On Loan: —       |
| Verisk Analytics, Inc.               | Verisk Analytics, Inc. COM USD0.001                   | CUSIP: 92345Y106<br>LEI: 549300I1YSWNIRKBWP67 | Long             | EC               | CORP              | US        |     15453 | NS      | $4143258.36   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Coca-Cola Europacific Partners PLC   | Coca-Cola Europacific Partners PLC COM EUR0.01        | CUSIP: G25839104<br>LEI: 549300LTH67W4GWMRF57 | Long             | EC               | CORP              | GB        |     50734 | NS      | $4508223.24   | 0.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Zscaler Inc                          | Zscaler Inc COM USD0.001                              | CUSIP: 98980G102<br>LEI: 529900MZ0RTK1BWRNF46 | Long             | EC               | CORP              | US        |     17352 | NS      | $4807371.60   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Globalfoundries Inc                  | Globalfoundries Inc ORDINARY SHARES                   | CUSIP: G39387108<br>LEI: 549300BA76VK784VMX48 | Long             | EC               | CORP              | KY        |     62500 | NS      | $2086875.00   | 0.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros. Discovery Inc.          | Warner Bros. Discovery Inc. COM SER A                 | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |    277613 | NS      | $3231415.32   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                            | Linde PLC COM EUR0.001                                | CUSIP: G54950103<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     52002 | NS      | $24872036.58  | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CHICAGO MERCANTILE EXCHANGE          | E-mini Nasdaq-100 Futures,Sep-2025,ETH                | CUSIP: N/A<br>LEI: LCZ7XYGSLJUHFXXNXD88       | Long             | DE               | CORP              | US        |       117 | NC      | $54900495.00  | 2.76%             |  |  |  | No            |                  2 | On Loan: No      |
| United States Treasury Bills         | B 0 09/18/25                                          | CUSIP: 912797PX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |  54600000 | PA      | $54496745.39  | 2.74%             | 2025-09-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CSX Corporation                      | CSX Corporation COM USD1                              | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |    209697 | NS      | $6817249.47   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuitive Surgical Inc.              | Intuitive Surgical Inc. COM USD0.001                  | CUSIP: 46120E602<br>LEI: 54930052SRG011710797 | Long             | EC               | CORP              | US        |     39595 | NS      | $18740115.53  | 0.94%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                        | Alphabet Inc. CAP STK USD0.001 CL A                   | CUSIP: 02079K305<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    261335 | NS      | $55640834.85  | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Meta Platforms Inc                   | Meta Platforms Inc COM USD0.000006 CL 'A'             | CUSIP: 30303M102<br>LEI: BQ4BKCS1HXDV9HN80Z93 | Long             | EC               | CORP              | US        |     97491 | NS      | $72016601.70  | 3.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Amazon.com, Inc.                     | Amazon.com, Inc. COM USD0.01                          | CUSIP: 023135106<br>LEI: ZXTILKJKG63JELOEG630 | Long             | EC               | CORP              | US        |    479731 | NS      | $109858399.00 | 5.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Airbnb Inc                           | Airbnb Inc COM CL A                                   | CUSIP: 009066101<br>LEI: 549300HMUDNO0RY56D37 | Long             | EC               | CORP              | US        |     33334 | NS      | $4351087.02   | 0.22%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                      | T-Mobile US Inc COM USD0.00001                        | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |    125436 | NS      | $31608617.64  | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Intuit Inc                           | Intuit Inc COM USD0.01                                | CUSIP: 461202103<br>LEI: VI90HBPH7XSFMB9E4M29 | Long             | EC               | CORP              | US        |     30816 | NS      | $20554272.00  | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Apple Inc.                           | Apple Inc. COM USD0.00001                             | CUSIP: 037833100<br>LEI: HWUPKR0MPOU8FGXBT394 | Long             | EC               | CORP              | US        |    674919 | NS      | $156675696.70 | 7.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Thomson Reuters Corp                 | Thomson Reuters Corp COM                              | CUSIP: 884903808<br>LEI: 549300561UZND4C7B569 | Long             | EC               | CORP              | CA        |     49723 | NS      | $8831302.03   | 0.44%             |  |  |  | No            |                  1 | On Loan: No      |
| The Trade Desk Inc                   | The Trade Desk Inc COM USD0.000001 CL A               | CUSIP: 88339J105<br>LEI: 549300GXPD31VT3E0P46 | Long             | EC               | CORP              | US        |     43376 | NS      | $2370932.16   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Texas Instruments Inc.               | Texas Instruments Inc. COM USD1.00                    | CUSIP: 882508104<br>LEI: WDJNR2L6D8RWOEB8T652 | Long             | EC               | CORP              | US        |    100361 | NS      | $20321095.28  | 1.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Synopsys Inc                         | Synopsys Inc COM USD0.01                              | CUSIP: 871607107<br>LEI: QG7T915N9S0NY5UKNE63 | Long             | EC               | CORP              | US        |     20442 | NS      | $12337155.84  | 0.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Starbucks Corp.                      | Starbucks Corp. COM USD0.001                          | CUSIP: 855244109<br>LEI: OQSJ1DU9TAOC51A47K68 | Long             | EC               | CORP              | US        |    104475 | NS      | $9213650.25   | 0.46%             |  |  |  | No            |                  1 | On Loan: No      |
| Ross Stores Inc                      | Ross Stores Inc COM USD0.01                           | CUSIP: 778296103<br>LEI: 549300ENZFLPGRDFZQ60 | Long             | EC               | CORP              | US        |     36327 | NS      | $5345881.32   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Roper Technologies Inc               | Roper Technologies Inc COM USD0.01                    | CUSIP: 776696106<br>LEI: 54930003T4SXCIWVXY35 | Long             | EC               | CORP              | US        |     12001 | NS      | $6316246.31   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Regeneron Pharmaceuticals, Inc.      | Regeneron Pharmaceuticals, Inc. COM USD0.001          | CUSIP: 75886F107<br>LEI: 549300RCBFWIRX3HYQ56 | Long             | EC               | CORP              | US        |      8917 | NS      | $5178101.90   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| PDD Holdings Inc.                    | PDD Holdings Inc. SPON ADS EACH REP 4 ORD SHS         | CUSIP: 722304102<br>LEI: 5493000573DS7005T657 | Long             | EC               | CORP              | KY        |     69280 | NS      | $8328841.60   | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Paypal Holdings Inc.                 | Paypal Holdings Inc. COM USD0.0001                    | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |     93516 | NS      | $6563888.04   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Paychex Inc                          | Paychex Inc COM USD0.01                               | CUSIP: 704326107<br>LEI: 529900K900DW6SUBM174 | Long             | EC               | CORP              | US        |     39791 | NS      | $5549053.91   | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Palo Alto Networks Inc               | Palo Alto Networks Inc COM USD0.0001                  | CUSIP: 697435105<br>LEI: 549300QXR2YVZV231H43 | Long             | EC               | CORP              | US        |     73663 | NS      | $14034274.76  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Palantir Technologies Inc            | Palantir Technologies Inc CL A                        | CUSIP: 69608A108<br>LEI: 549300UVN46B3BBDHO85 | Long             | EC               | CORP              | US        |    249990 | NS      | $39175932.90  | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Paccar Inc                           | Paccar Inc COM USD1.00                                | CUSIP: 693718108<br>LEI: KDTEY8BWE486IKZ3CC07 | Long             | EC               | CORP              | US        |     58599 | NS      | $5858728.02   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| ON Semiconductor Corp.               | ON Semiconductor Corp. COM USD0.01                    | CUSIP: 682189105<br>LEI: ZV20P4CNJVT8V1ZGJ064 | Long             | EC               | CORP              | US        |     36073 | NS      | $1788860.07   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Old Dominion Freight Line Inc.       | Old Dominion Freight Line Inc. COM USD0.10            | CUSIP: 679580100<br>LEI: 5299009TWK32WE417T96 | Long             | EC               | CORP              | US        |     18516 | NS      | $2795360.52   | 0.14%             |  |  |  | No            |                  1 | On Loan: No      |
| O'Reilly Automotive Inc.             | O'Reilly Automotive Inc. USD0.01                      | CUSIP: 67103H107<br>LEI: 549300K2RLMQL149Q332 | Long             | EC               | CORP              | US        |     94437 | NS      | $9791228.16   | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| NVIDIA Corp.                         | NVIDIA Corp. COM USD0.001                             | CUSIP: 67066G104<br>LEI: 549300S4KLFTLO7GSQ80 | Long             | EC               | CORP              | US        |   1102586 | NS      | $192048429.50 | 9.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Monster Beverage Corp                | Monster Beverage Corp COM USD0.005                    | CUSIP: 61174X109<br>LEI: 52990090AP0E7HCB6F33 | Long             | EC               | CORP              | US        |    107738 | NS      | $6723928.58   | 0.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Mondelez International, Inc.         | Mondelez International, Inc. COM NPV                  | CUSIP: 609207105<br>LEI: 549300DV9GIB88LZ5P30 | Long             | EC               | CORP              | US        |    124187 | NS      | $7630049.28   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Micron Technology Inc.               | Micron Technology Inc. COM USD0.10                    | CUSIP: 595112103<br>LEI: B3DXGBC8GAIYWI2Z0172 | Long             | EC               | CORP              | US        |    123461 | NS      | $14693093.61  | 0.74%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Incorporated    | Microchip Technology Incorporated COM USD0.001        | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |     46093 | NS      | $2996045.00   | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Strategy Inc.                        | Strategy Inc. COM USD0.001 CLASS A                    | CUSIP: 594972408<br>LEI: 549300WQTWEJUEHXQX21 | Long             | EC               | CORP              | US        |     27035 | NS      | $9040774.35   | 0.45%             |  |  |  | No            |                  1 | On Loan: —       |
| Marvell Technology Inc               | Marvell Technology Inc COM                            | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     96245 | NS      | $6050441.93   | 0.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Marriott International, Inc.         | Marriott International, Inc. COM USD0.01 CLASS A      | CUSIP: 571903202<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | EC               | CORP              | US        |     30574 | NS      | $8189551.64   | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Lululemon Athletica Inc.             | Lululemon Athletica Inc. COM USD0.005                 | CUSIP: 550021109<br>LEI: 549300D9GZ4BMLDW5T40 | Long             | EC               | CORP              | US        |      9208 | NS      | $1861857.60   | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Lam Research Corporation             | Lam Research Corporation COM NEW                      | CUSIP: 512807306<br>LEI: 549300I4GMO6D34U1T02 | Long             | EC               | CORP              | US        |    141308 | NS      | $14151996.20  | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| The Kraft Heinz Co.                  | The Kraft Heinz Co. COM USD0.01                       | CUSIP: 500754106<br>LEI: 9845007488EC87F5AF14 | Long             | EC               | CORP              | US        |     81071 | NS      | $2267555.87   | 0.11%             |  |  |  | No            |                  1 | On Loan: —       |
| Keurig Dr Pepper Inc                 | Keurig Dr Pepper Inc COM USD0.01                      | CUSIP: 49271V100<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | EC               | CORP              | US        |    124173 | NS      | $3612192.57   | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| KLA Corp.                            | KLA Corp. COM USD0.001                                | CUSIP: 482480100<br>LEI: 549300H0BF5JCG96TJ81 | Long             | EC               | CORP              | US        |     14609 | NS      | $12739048.00  | 0.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Intel Corporation                    | Intel Corporation COM USD0.001                        | CUSIP: 458140100<br>LEI: KNX4USFCNGPY45LOCE31 | Long             | EC               | CORP              | US        |    410258 | NS      | $9989782.30   | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| IDEXX Laboratories Inc.              | IDEXX Laboratories Inc. COM USD0.10                   | CUSIP: 45168D104<br>LEI: OGMTXK0LUU1HKV2P0J84 | Long             | EC               | CORP              | US        |      8977 | NS      | $5808926.93   | 0.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Honeywell International Inc.         | Honeywell International Inc. COM USD1                 | CUSIP: 438516106<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | EC               | CORP              | US        |     70999 | NS      | $15584280.50  | 0.78%             |  |  |  | No            |                  1 | On Loan: No      |
| GE Healthcare Technologies Inc.      | GE Healthcare Technologies Inc. COMMON STOCK          | CUSIP: 36266G107<br>LEI: 549300OI9J7XOWZMUN85 | Long             | EC               | CORP              | US        |     42397 | NS      | $3125930.81   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortinet Inc                         | Fortinet Inc COM USD0.001                             | CUSIP: 34959E109<br>LEI: 549300O0QJWDBAS0QX03 | Long             | EC               | CORP              | US        |     84557 | NS      | $6660554.89   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Fastenal Co.                         | Fastenal Co. COM USD0.01                              | CUSIP: 311900104<br>LEI: 529900PP0C7H2HHPSJ32 | Long             | EC               | CORP              | US        |    128063 | NS      | $6359608.58   | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp.                         | Exelon Corp. COM NPV                                  | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |    111526 | NS      | $4871455.68   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc.                 | Electronic Arts Inc. COM USD0.01                      | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |     27702 | NS      | $4763358.90   | 0.24%             |  |  |  | No            |                  1 | On Loan: No      |
| DoorDash Inc                         | DoorDash Inc CL A                                     | CUSIP: 25809K105<br>LEI: 549300NUQ43FGGSK5051 | Long             | EC               | CORP              | US        |     44043 | NS      | $10801545.75  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Diamondback Energy Inc               | Diamondback Energy Inc COM USD0.01                    | CUSIP: 25278X109<br>LEI: 549300R22LSX6OHWEN64 | Long             | EC               | CORP              | US        |     20977 | NS      | $3120538.52   | 0.16%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                           | DexCom Inc COM USD0.001                               | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     27882 | NS      | $2100629.88   | 0.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Datadog Inc                          | Datadog Inc COM USD0.00001 CL A                       | CUSIP: 23804L103<br>LEI: 549300F6JNO0KRPO1K63 | Long             | EC               | CORP              | US        |     35879 | NS      | $4903941.72   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Crowdstrike Holdings Inc             | Crowdstrike Holdings Inc COM USD0.0005 CL A           | CUSIP: 22788C105<br>LEI: 549300YBY08K9KM4HX32 | Long             | EC               | CORP              | US        |     26596 | NS      | $11268725.20  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Costar Group Inc                     | Costar Group Inc COM USD0.01                          | CUSIP: 22160N109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     46405 | NS      | $4152783.45   | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Costco Wholesale Corporation         | Costco Wholesale Corporation COM USD0.01              | CUSIP: 22160K105<br>LEI: 29DX7H14B9S6O3FD6V18 | Long             | EC               | CORP              | US        |     49015 | NS      | $46236829.80  | 2.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Copart Inc                           | Copart Inc COM USD0.0001                              | CUSIP: 217204106<br>LEI: 549300KVYX3JWMYEHU61 | Long             | EC               | CORP              | US        |    106727 | NS      | $5209344.87   | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Constellation Energy Corp.           | Constellation Energy Corp. COM                        | CUSIP: 21037T109<br>LEI: 549300F8Y20RYGNGV346 | Long             | EC               | CORP              | US        |     34624 | NS      | $10663499.52  | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Comcast Corporation                  | Comcast Corporation COM USD0.01 CL A                  | CUSIP: 20030N101<br>LEI: 51M0QTTNCGUN7KFCFZ59 | Long             | EC               | CORP              | US        |    350625 | NS      | $11910731.25  | 0.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Cognizant Technology Solutions Corp. | Cognizant Technology Solutions Corp. COM CL A USD0.01 | CUSIP: 192446102<br>LEI: 5493006IEVQEFQO40L83 | Long             | EC               | CORP              | US        |     54456 | NS      | $3934446.00   | 0.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Cintas Corporation                   | Cintas Corporation COM NPV                            | CUSIP: 172908105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     44607 | NS      | $9368808.21   | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Cisco Systems, Inc.                  | Cisco Systems, Inc. COM USD0.001                      | CUSIP: 17275R102<br>LEI: 549300LKFJ962MZ46593 | Long             | EC               | CORP              | US        |    437472 | NS      | $30224940.48  | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Charter Communications, Inc.         | Charter Communications, Inc. COM USD0.001 CLASS A     | CUSIP: 16119P108<br>LEI: 0J0XRGZE3PBRFEZ7MV65 | Long             | EC               | CORP              | US        |     12561 | NS      | $3335950.38   | 0.17%             |  |  |  | No            |                  1 | On Loan: —       |
| CDW Corp                             | CDW Corp COM USD0.01                                  | CUSIP: 12514G108<br>LEI: 9845001B052ABF0B6755 | Long             | EC               | CORP              | US        |     14442 | NS      | $2379463.92   | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Broadcom Inc                         | Broadcom Inc COM USD0.001                             | CUSIP: 11135F101<br>LEI: 549300WV6GIDOZJTV909 | Long             | EC               | CORP              | US        |    351407 | NS      | $104504927.70 | 5.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Biogen Inc                           | Biogen Inc COM USD0.0005                              | CUSIP: 09062X103<br>LEI: W8J5WZB5IY3K0NDQT671 | Long             | EC               | CORP              | US        |      8629 | NS      | $1140926.38   | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company                 | Baker Hughes Company COM USD0.0001 CL A               | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    109451 | NS      | $4969075.40   | 0.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Axon Enterprise Inc                  | Axon Enterprise Inc COM USD0.00001                    | CUSIP: 05464C101<br>LEI: 549300QP2IEEGFE16681 | Long             | EC               | CORP              | US        |      8665 | NS      | $6475267.85   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Automatic Data Processing, Inc.      | Automatic Data Processing, Inc. COM USD0.10           | CUSIP: 053015103<br>LEI: HGBOLILQXWER4SAL2I23 | Long             | EC               | CORP              | US        |     44843 | NS      | $13634514.15  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Autodesk Inc                         | Autodesk Inc COM USD0.01                              | CUSIP: 052769106<br>LEI: FRKKVKAIQEF3FCSTPG55 | Long             | EC               | CORP              | US        |     23888 | NS      | $7517553.60   | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                      | AstraZeneca PLC SPON ADR EACH REP 0.50 ORD            | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |     66251 | NS      | $5293454.90   | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Arm Holdings PLC                     | Arm Holdings PLC SPONSORED ADS                        | CUSIP: 042068205<br>LEI: 2138001E66EELTE7Y904 | Long             | EC               | CORP              | GB        |     14889 | NS      | $2059297.59   | 0.10%             |  |  |  | No            |                  1 | On Loan: —       |
| Applovin Corp.                       | Applovin Corp. COM CL A                               | CUSIP: 03831W108<br>LEI: 549300LLVXMUAOL3SQ07 | Long             | EC               | CORP              | US        |     33992 | NS      | $16268231.28  | 0.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Applied Materials Inc.               | Applied Materials Inc. COM USD0.01                    | CUSIP: 038222105<br>LEI: 41BNNE1AFPNAZELZ6K07 | Long             | EC               | CORP              | US        |     88654 | NS      | $14252017.04  | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Analog Devices Inc.                  | Analog Devices Inc. COM USD0.16 2/3                   | CUSIP: 032654105<br>LEI: GYVOE5EZ4GDAVTU4CQ61 | Long             | EC               | CORP              | US        |     54822 | NS      | $13777316.82  | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Adobe Inc                            | Adobe Inc COM USD0.0001                               | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |     40890 | NS      | $14585463.00  | 0.73%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co, Inc.     | American Electric Power Co, Inc. COM USD6.50          | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     59014 | NS      | $6551734.28   | 0.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Alphabet Inc.                        | Alphabet Inc. CAP USD0.001 CL C                       | CUSIP: 02079K107<br>LEI: 5493006MHB84DD0ZWV18 | Long             | EC               | CORP              | US        |    245125 | NS      | $52341541.25  | 2.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                           | Amgen Inc. COM USD0.0001                              | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |     59402 | NS      | $17090549.42  | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| MOUNT VERNON LIQUID ASSETS PORTFOLIO | MOUNT VERNON LIQUID ASSETS PORTFOLIO                  | CUSIP: 990VR1110<br>LEI: 549300HR54NVNP038048 | Long             | STIV             | RF                | US        |  11369209 | OU      | $11369209.00  | 0.57%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-30

**Name of Applicant:** SHELTON FUNDS

**Signature:** /s/ Gregory Pusch

**Name of Signer:** Gregory Pusch

**Title:** General Counsel and CCO