# EDGAR Filing Document

**Accession Number:** 0001045701
**File Stem:** 0001162044-23-000036
**Filing Date:** 2023-1
**Character Count:** 16113
**Document Hash:** d6b3344691c5a9adeb49caf04a95f805
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-23-000036.hdr.sgml**: 20230110

**ACCESSION NUMBER**: 0001162044-23-000036

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221130

**FILED AS OF DATE**: 20230110

**DATE AS OF CHANGE**: 20230110

**PERIOD START**: 20230831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Monteagle Funds
- **CENTRAL INDEX KEY:** 0001045701
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08529
- **FILM NUMBER:** 23520996

**BUSINESS ADDRESS:**
- **STREET 1:** 2506 WINFORD AVENUE
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37211
- **BUSINESS PHONE:** 888-263-5593

**MAIL ADDRESS:**
- **STREET 1:** 2506 WINFORD AVENUE
- **CITY:** NASHVILLE
- **STATE:** TN
- **ZIP:** 37211

**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

### Smart Diversification Fund (Series ID: S000065233)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000211156 | Class I      | SMDFX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **November 30, 2022 (unaudited)** | **November 30, 2022 (unaudited)** | **November 30, 2022 (unaudited)** |
| **<u>Monteagle Smart Diversification Fund</u>** | **<u>Monteagle Smart Diversification Fund</u>** | **<u>Monteagle Smart Diversification Fund</u>** |
|  | **Shares or Principal** |  |
| **Security Description** | **Amount ($)** | **Fair Value ($)(1)** |
| **Registered Investment Companies - 65.56%** | **Registered Investment Companies - 65.56%** | **Registered Investment Companies - 65.56%** |
| First Trust Brazil AlphaDEX Fund  | 100000  | 1092000  |
| First Trust Emerging Markets AlphaDEX Fund | 2796  | 59834  |
| Invesco QQQ Trust, Series 1 ETF | 6000  | 1760160  |
| iShares China Large-Cap ETF (2) | 60000  | 1689600  |
| iShares MSCI Brazil ETF (2) | 30000  | 944400  |
| iShares MSCI Brazil Small Cap ETF (2) | 35000  | 445550  |
| iShares MSCI Emerging Markets ETF (2) | 10000  | 395200  |
| SPDR Bloomberg Short Term High Yield Bond ETF (2) | 10000  | 248300  |
| SPDR Portfolio Developed World ex-US ETF (2) | 86483  | 2661947  |
| SPDR Portfolio Emerging Markets ETF (2) | 20000  | 688200  |
| SPDR S&P 500 ETF Trust | 9725  | 3964688  |
| Total Registered Investment Companies | (Cost $12,875,525) | 13949879  |
| **Money Market Registered Investment Companies - 34.38%** | **Money Market Registered Investment Companies - 34.38%** | **Money Market Registered Investment Companies - 34.38%** |
| Federated Hermes Government Obligations Fund - Institutional Class, 3.61% (3) | 7316228  | 7316228  |
| Total Money Market Registered Investment Companies | (Cost $7,316,228) | 7316228  |
| **Total Investments - 99.95%** | (Cost $20,191,753) | 21266107  |
| Other Assets Less Liabilities (0.05%) |  | 11641  |
| Total Net Assets - 100.00% |  | 21277748  |
| (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. | (1) ***Statement on Financial Accounting Standard No. 157 "Fair Value Measurements"*** - Various inputs are used in determining the value of the Fund's investments. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;These inputs are summarized in the three broad levels listed below. |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 1 - quoted prices in active markets for identical securities |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;The following is a summary of the inputs used as of November 30, 2022 in valuing the Fund's assets carried at fair value: |
|  | Investments in  | Other Financial |
| Valuation Inputs | Securities | Instruments |
| Level 1 - Quoted Prices | $21266107 | $- |
| Level 2 - Other Significant Observable Inputs | - | - |
| Level 3 - Significant Unobservable Inputs | - | - |
| Total | $21266107 | $- |
| The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term | The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term | The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term |
| debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment | debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment | debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment |
| Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active | Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active | Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active |
| market, such securities are reflected as Level 2. | market, such securities are reflected as Level 2. | market, such securities are reflected as Level 2. |
| (2) Represents non-income producing securities. | (2) Represents non-income producing securities. | (2) Represents non-income producing securities. |
| (3) 7-day yield as of November 30, 2022 | (3) 7-day yield as of November 30, 2022 | (3) 7-day yield as of November 30, 2022 |

---

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** Monteagle Funds

- **b. Investment Company Act file number:** 811-08529

- **c. CIK number of Registrant:** 0001045701

- **d. LEI of Registrant:** 5493009CWKBRMKVZD520

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

  - **Street Address 1:** 2506 Winford Avenue

  - **City:** Nashville

  - **State:** TN

  - **Foreign country:** US

  - **Zip / Postal Code:** 37211

  - **Telephone number:** 888-263-5593

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

- **a. Name of Series:** Monteagle Smart Diversification Fund

- **b. EDGAR series identifier (if any):** S000065233

- **c. LEI of Series:** 5493007RMUOMJ68W9L91

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

- **a. Date of fiscal year-end:** 2023-08-31

- **b. Date as of which information is reported:** 2022-11-30

**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:** $21302435.12

**Total Liabilities:** $24686.78

**Net Assets:** $21277748.34

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000211156 | -10.23%              | 3.43%                | 3.05%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1596209.85             | $-883782.04                                |
| Month 2  | $89997.97                | $603833.09                                 |
| Month 3  | $1595.16                 | $616785.26                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Federated Hermes Money Market Obligations Trust               | Federated Hermes Government Obligations Fund - Institutional Class | CUSIP: 60934N104<br>LEI: 25490005VWJDWX717014 | Long             | STIV             | RF                | US        |   7316228 | NS      | $7316228.43   | 34.38%            |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Exchange Traded AlphaDEX Fund II                  | First Trust Brazil AlphaDEX Fund                                   | CUSIP: 33737J133<br>LEI: 549300HROUDUV84QFV64 | Long             | EC               | CORP              | US        |    100000 | NS      | $1092000.00   | 5.13%             |  |  |  | No            |                  1 | On Loan: No      |
| First Trust Exchange Traded AlphaDEX Fund II                  | First Trust Emerging Markets AlphaDEX Fund                         | CUSIP: 33737J182<br>LEI: 549300HROUDUV84QFV64 | Long             | EC               | RF                | US        |      2796 | NS      | $59834.40     | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco QQQ Trust, Series 1                                   | Invesco QQQ Trust, Series 1 ETF                                    | CUSIP: 46090E103<br>LEI: 549300VY6FEJBCIMET58 | Long             | EC               | RF                | US        |      6000 | NS      | $1760160.00   | 8.27%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Series Trust                                             | SPDR Bloomberg Short Term High Yield Bond ETF                      | CUSIP: 78468R408<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     10000 | NS      | $248300.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Index Shares Funds                                       | SPDR Portfolio Developed World ex-US ETF                           | CUSIP: 78463X889<br>LEI: 549300NVXJXJCDK35U34 | Long             | EC               | RF                | US        |     86483 | NS      | $2661946.74   | 12.51%            |  |  |  | No            |                  1 | On Loan: No      |
| SPDR Index Shares Funds - SPDR Portfolio Emerging Markets ETF | SPDR Portfolio Emerging Markets ETF                                | CUSIP: 78463X509<br>LEI: N/A                  | Long             | EC               | RF                | US        |     20000 | NS      | $688200.00    | 3.23%             |  |  |  | No            |                  1 | On Loan: No      |
| SPDR S&P 500 ETF Trust                                        | SPDR S&P 500 ETF Trust                                             | CUSIP: 78462F103<br>LEI: 549300NZAMSJ8FXPQQ63 | Long             | EC               | RF                | US        |      9725 | NS      | $3964688.00   | 18.63%            |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | iShares China Large-Cap ETF                                        | CUSIP: 464287184<br>LEI: 5493001YVWP025CNKN94 | Long             | EC               | CORP              | US        |     60000 | NS      | $1689600.00   | 7.94%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares, Inc.                                                 | iShares MSCI Brazil ETF                                            | CUSIP: 464286400<br>LEI: 549300MGJZCNMJLBAJ67 | Long             | EC               | RF                | US        |     30000 | NS      | $944400.00    | 4.44%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | iShares MSCI Brazil Small Cap ETF                                  | CUSIP: 464289131<br>LEI: 5493006PCB0FN0Z1IP98 | Long             | EC               | CORP              | US        |     35000 | NS      | $445550.00    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                                                 | iShares MSCI Emerging Markets ETF                                  | CUSIP: 464287234<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |     10000 | NS      | $395200.00    | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2022-11-30

**Name of Applicant:** Monteagle Funds

**Signature:** /s/ Paul B. Ordonio

**Name of Signer:** Paul B. Ordonio

**Title:** President and Principal Executive Officer