# EDGAR Filing Document

**Accession Number:** 0000778206
**File Stem:** 0002000324-25-004160
**Filing Date:** 2025-10
**Character Count:** 20275
**Document Hash:** ebf96a29f9478a1f9d406bb1c6554fc9
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004160.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0002000324-25-004160

**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:** 251436140

**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

### Shelton Sustainable Equity Fund (Series ID: S000039758)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000123237 | Investor Shares      | NEXTX           |
| C000238256 | Institutional Shares | NEXIX           |

## 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:** Shelton Sustainable Equity Fund

- **b. EDGAR series identifier (if any):** S000039758

- **c. LEI of Series:** 254900PZH514P2M57196

**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:** $76304617.22

**Total Liabilities:** $125457.20

**Net Assets:** $76179160.02

**Cash Not Reported:** $4464.24

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000123237 | 1.39%                | 1.86%                | 5.61%                |
| Class ID C000238256 | 1.41%                | 1.88%                | 5.65%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $2631857.75              | $-1603196.82                               |
| Month 2  | $-7321.26                | $1553503.07                                |
| Month 3  | $2288208.54              | $1936871.26                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Teledyne Technologies Inc                 | Teledyne Technologies Inc COM USD0.01                 | CUSIP: 879360105<br>LEI: 549300VSMO9KYQWDND94 | Long             | EC               | CORP              | US        |      4500 | NS      | $2421765.00   | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United States Treasury Bills              | B 0 09/18/25                                          | CUSIP: 912797PX9<br>LEI: 254900HROIFWPRGM1V77 | Long             | DBT              | UST               | US        |   2400000 | PA      | $2395461.34   | 3.14%             | 2025-09-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Ag Growth International Inc.              | Ag Growth International Inc. COM NPV                  | CUSIP: 001181106<br>LEI: 549300ZCF9VG3Z4PHL09 | Long             | EC               | CORP              | CA        |     54900 | NS      | $1683357.48   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| AECOM                                     | AECOM COM STK USD0.01                                 | CUSIP: 00766T100<br>LEI: 0EEB8GF0W0NPCIHZX097 | Long             | EC               | CORP              | US        |     16850 | NS      | $2104396.50   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Darling Ingredients, Inc                  | Darling Ingredients, Inc COM USD0.01                  | CUSIP: 237266101<br>LEI: L1N0SPPKS7EXZYUMZ898 | Long             | EC               | CORP              | US        |     60000 | NS      | $2037600.00   | 2.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Deere & Company                           | Deere & Company COM USD1                              | CUSIP: 244199105<br>LEI: PWFTNG3EI0Y73OXWDH08 | Long             | EC               | CORP              | US        |      5500 | NS      | $2632520.00   | 3.46%             |  |  |  | No            |                  1 | On Loan: No      |
| DexCom Inc                                | DexCom Inc COM USD0.001                               | CUSIP: 252131107<br>LEI: 549300YSK3QDSFR5EU59 | Long             | EC               | CORP              | US        |     16000 | NS      | $1205440.00   | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| EnerSys                                   | EnerSys COM USD0.01                                   | CUSIP: 29275Y102<br>LEI: 7ZS3DE5PN30BYUJFWP05 | Long             | EC               | CORP              | US        |     10000 | NS      | $1026500.00   | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Energy Recovery Inc.                      | Energy Recovery Inc. USD0.001                         | CUSIP: 29270J100<br>LEI: 549300ZEQL52Z525WJ22 | Long             | EC               | CORP              | US        |     46000 | NS      | $653660.00    | 0.86%             |  |  |  | No            |                  1 | On Loan: No      |
| First Solar Inc                           | First Solar Inc COM STK USD0.001                      | CUSIP: 336433107<br>LEI: 549300NPYMLM4NHTOF27 | Long             | EC               | CORP              | US        |     13222 | NS      | $2580802.18   | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| HA Sustainable Infrastructure Capital Inc | HA Sustainable Infrastructure Capital Inc COM USD0.01 | CUSIP: 41068X100<br>LEI: 254900ZZRL7MWL1X8E92 | Long             | EC               | CORP              | US        |     89500 | NS      | $2527480.00   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Gibraltar Industries, Inc.                | Gibraltar Industries, Inc. COM USD0.01                | CUSIP: 374689107<br>LEI: 549300AE5O3GN0YBLM57 | Long             | EC               | CORP              | US        |     24000 | NS      | $1502160.00   | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Itron, Inc.                               | Itron, Inc. COM NPV                                   | CUSIP: 465741106<br>LEI: 24F6LSZD18II6ICG6S41 | Long             | EC               | CORP              | US        |      7000 | NS      | $860580.00    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| KBR Inc                                   | KBR Inc COM USD0.001                                  | CUSIP: 48242W106<br>LEI: 254900OFQDXZRKRCV808 | Long             | EC               | CORP              | US        |     23000 | NS      | $1160580.00   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Ryerson Holding Corporation               | Ryerson Holding Corporation COM USD0.01               | CUSIP: 783754104<br>LEI: 549300JMA41B3ZHOVE45 | Long             | EC               | CORP              | US        |     46266 | NS      | $1054864.80   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Ormat Technologies Inc.                   | Ormat Technologies Inc. COM STK USD0.001              | CUSIP: 686688102<br>LEI: 5493000TSHHWY24VHM09 | Long             | EC               | CORP              | US        |     34000 | NS      | $3124260.00   | 4.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem, Inc.                               | Xylem, Inc. COM USD0.01                               | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |     13000 | NS      | $1840280.00   | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                | Siemens AG NPV(REGD)                                  | CUSIP: D69671218<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     10000 | NS      | $2767575.15   | 3.63%             |  |  |  | No            |                  2 | On Loan: No      |
| Schneider Electric SE                     | Schneider Electric SE EUR4.00                         | CUSIP: F86921107<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     10000 | NS      | $2457012.52   | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| Valmont Industries, Inc.                  | Valmont Industries, Inc. COM USD1                     | CUSIP: 920253101<br>LEI: 5493009ZGZJJ8F77JN08 | Long             | EC               | CORP              | US        |      4000 | NS      | $1468480.00   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Gaztransport Et Technigaz SA              | Gaztransport Et Technigaz SA EUR0.01                  | CUSIP: F42674113<br>LEI: 969500BVOHVZUUFWDT54 | Long             | EC               | CORP              | FR        |     15000 | NS      | $2796818.34   | 3.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Freshpet Inc                              | Freshpet Inc COM USD0.001                             | CUSIP: 358039105<br>LEI: 549300S4ZK8ZQ6HNPN59 | Long             | EC               | CORP              | US        |      8000 | NS      | $446560.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| E L F Beauty Inc                          | E L F Beauty Inc COM USD0.01                          | CUSIP: 26856L103<br>LEI: 549300U2K9TCON25C029 | Long             | EC               | CORP              | US        |     14400 | NS      | $1800000.00   | 2.36%             |  |  |  | No            |                  1 | On Loan: No      |
| Johnson Controls International PLC        | Johnson Controls International PLC COM USD1.00        | CUSIP: G51502105<br>LEI: 549300XQ6S1GYKGBL205 | Long             | EC               | CORP              | IE        |     18000 | NS      | $1924020.00   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Simply Good Foods Company                 | Simply Good Foods Company COM USD0.01                 | CUSIP: 82900L102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     19000 | NS      | $543970.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens Healthineers AG                   | Siemens Healthineers AG NPV                           | CUSIP: D6T479107<br>LEI: 529900QBVWXMWANH7H45 | Long             | EC               | CORP              | DE        |     40000 | NS      | $2213592.23   | 2.91%             |  |  |  | Yes           |                  2 | On Loan: No      |
| Moderna Inc                               | Moderna Inc COM USD0.0001                             | CUSIP: 60770K107<br>LEI: 549300EI6OKH5K5Q2G38 | Long             | EC               | CORP              | US        |      6720 | NS      | $161884.80    | 0.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Corteva Inc                               | Corteva Inc COM USD0.01                               | CUSIP: 22052L104<br>LEI: 549300WZN9I2QKLS0O94 | Long             | EC               | CORP              | US        |     20000 | NS      | $1483800.00   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinterest Inc                             | Pinterest Inc COM USD0.00001 CL A                     | CUSIP: 72352L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $1098900.00   | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                   | Essential Utilities Inc COM                           | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |     38400 | NS      | $1517184.00   | 1.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Vertiv Holdings Co                        | Vertiv Holdings Co COM CL A                           | CUSIP: 92537N108<br>LEI: 549300KTTIRAOGXCRV69 | Long             | EC               | CORP              | US        |     10000 | NS      | $1275500.00   | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Vital Farms Inc.                          | Vital Farms Inc. COM                                  | CUSIP: 92847W103<br>LEI: 549300S6NYY7ER3XOT61 | Long             | EC               | CORP              | US        |     22000 | NS      | $1123980.00   | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Trane Technologies PLC                    | Trane Technologies PLC COM USD1                       | CUSIP: G8994E103<br>LEI: 549300BURLR9SLYY2705 | Long             | EC               | CORP              | IE        |      3000 | NS      | $1246800.00   | 1.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Shoals Technologies Group Inc             | Shoals Technologies Group Inc CL A                    | CUSIP: 82489W107<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     90000 | NS      | $585900.00    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Warby Parker Inc                          | Warby Parker Inc CL A COM                             | CUSIP: 93403J106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     32000 | NS      | $838400.00    | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| On Holding AG                             | On Holding AG NAMEN AKT A                             | CUSIP: H5919C104<br>LEI: N/A                  | Long             | EC               | CORP              | CH        |     50000 | NS      | $2254000.00   | 2.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Samsara Inc                               | Samsara Inc COM CL A                                  | CUSIP: 79589L106<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     30000 | NS      | $1084200.00   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| NET Power Inc                             | NET Power Inc COM CL A                                | CUSIP: 64107A105<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    200000 | NS      | $510000.00    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Bunge Global SA                           | Bunge Global SA COM SHS                               | CUSIP: H11356104<br>LEI: 254900IVXSV9K0B7PO26 | Long             | EC               | CORP              | CH        |     30000 | NS      | $2526600.00   | 3.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Clearway Energy Inc                       | Clearway Energy Inc COM USD0.01 CLASS C               | CUSIP: 18539C204<br>LEI: 549300LHAZ9HA9G3XC48 | Long             | EC               | CORP              | US        |     15000 | NS      | $447150.00    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Clean Harbors, Inc.                       | Clean Harbors, Inc. COM USD0.01                       | CUSIP: 184496107<br>LEI: 5493000SJVZVZJKHJF48 | Long             | EC               | CORP              | US        |      6000 | NS      | $1453260.00   | 1.91%             |  |  |  | No            |                  1 | On Loan: No      |
| The Chemours Company LLC                  | The Chemours Company LLC COM USD0.01 WI               | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     95100 | NS      | $1464540.00   | 1.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Centrus Energy Corp.                      | Centrus Energy Corp. CL A                             | CUSIP: 15643U104<br>LEI: 549300G6VDK9G8276661 | Long             | EC               | CORP              | US        |     11200 | NS      | $2259376.00   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Cabot Corporation                         | Cabot Corporation COM USD1                            | CUSIP: 127055101<br>LEI: K05C0SER542GQ6VLRO68 | Long             | EC               | CORP              | US        |     14272 | NS      | $1164024.32   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| CF Industries Holdings, Inc.              | CF Industries Holdings, Inc. COM USD0.01              | CUSIP: 125269100<br>LEI: 529900CG8YAQFZ2JMV97 | Long             | EC               | CORP              | US        |     29000 | NS      | $2512270.00   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Aramark                                   | Aramark COM USD0.01                                   | CUSIP: 03852U106<br>LEI: 549300MR6PG2DWZUIL39 | Long             | EC               | CORP              | US        |     65700 | NS      | $2569527.00   | 3.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Box Inc.                                  | Box Inc. COM USD0.0001 CL 'A'                         | CUSIP: 10316T104<br>LEI: 549300KQUCPD8687YS68 | Long             | EC               | CORP              | US        |     40000 | NS      | $1305200.00   | 1.71%             |  |  |  | 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