# EDGAR Filing Document

**Accession Number:** 0001054816
**File Stem:** 0001162044-26-000269
**Filing Date:** 2026-3
**Character Count:** 137434
**Document Hash:** 3149a95cf732f54534c7f82df8cb312c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001162044-26-000269.hdr.sgml**: 20260313

**ACCESSION NUMBER**: 0001162044-26-000269

**CONFORMED SUBMISSION TYPE**: N-CSRS

**PUBLIC DOCUMENT COUNT**: 24

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20260313

**DATE AS OF CHANGE**: 20260313

**EFFECTIVENESS DATE**: 20260313

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MH ELITE PORTFOLIO OF FUNDS TRUST
- **CENTRAL INDEX KEY:** 0001054816

**ORGANIZATION NAME:**
- **EIN:** 223545308
- **STATE OF INCORPORATION:** NJ
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CSRS
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-08763
- **FILM NUMBER:** 26750793

**BUSINESS ADDRESS:**
- **STREET 1:** 43 HIGHLANDER DRIVE
- **CITY:** SCOTCH PLAINS
- **STATE:** NJ
- **ZIP:** 07076
- **BUSINESS PHONE:** 1.800.318.7969

**MAIL ADDRESS:**
- **STREET 1:** 43 HIGHLANDER DRIVE
- **CITY:** SCOTCH PLAINS
- **STATE:** NJ
- **ZIP:** 07076

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MH ELITE PORTFOLIO OF FUNDS INC
- **DATE OF NAME CHANGE:** 19980206

## Series and Classes Contracts Data

### MH Elite Small Cap Fund of Funds (Series ID: S000009924)

| Class ID   | Class Name                       | Ticker Symbol   |
|:---|:---|:---|
| C000027442 | MH Elite Small Cap Fund of Funds | MHELX           |

### MH Elite Fund of Funds (Series ID: S000009925)

| Class ID   | Class Name             | Ticker Symbol   |
|:---|:---|:---|
| C000027443 | MH Elite Fund of Funds | MHEFX           |

### MH Elite Select Portfolio of Funds (Series ID: S000012513)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000034026 | MH Elite Select Portfolio of Funds | MHESX           |

### MH Elite Income Fund of Funds (Series ID: S000034218)

| Class ID   | Class Name                    | Ticker Symbol   |
|:---|:---|:---|
| C000105482 | MH Elite Income Fund of Funds | MHEIX           |

?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>811-08763</u>

<u>MH Elite Portfolio of Funds Trust</u>

(Exact Name of Registrant as Specified in Charter)

<u>43 Highlander Drive</u>

<u>Scotch Plains, NJ 07076</u>

(Address of Principal Executive Offices) (Zip Code)

<u>Harvey Merson</u>

<u>or</u>

<u>Jeff Holcombe</u>

<u>43 Highlander Drive</u>

<u>Scotch Plains, NJ 07076</u>

(Name and Address of Agent for Service)

Registrant's Telephone Number, including Area Code: 1-800-318-7969

Date of fiscal year end: <u>December 31</u>

Date of reporting period: <u>June 30, 2025</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.**

SEMI-ANNUAL SHAREHOLDER REPORT

**June 30, 2025 (Unaudited)**

MH ELITE SMALL CAP FUND OF FUNDS

***MHELX***

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

This semi-annual shareholder report contains important information about the MH Elite Small Cap Fund of Funds – MHELX (the "Fund") for the period January 1, 2025 to June 30, 2025, as well as certain changes to the Fund.

You can find additional information about the Fund at www.mhelite.com. You can also request this information by contacting us at 1-800-318-7969.

**<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;MH Elite Small Cap Fund of Funds | &nbsp;&nbsp;$62 | &nbsp;&nbsp;1.25% |

---

\*Annualized

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;NET ASSETS: | &nbsp;&nbsp;$11012657 |
| &nbsp;&nbsp;PORTFOLIO HOLDINGS: | &nbsp;&nbsp;16 |
| &nbsp;&nbsp;PORTFOLIO TURNOVER: | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;ADVISORY FEES PAID BY FUND: | &nbsp;&nbsp;$52792 |

---

**<u>portfolio illustration</u>**

The following chart gives a visual breakdown of the Fund by Morningstar® categories of the underlying funds. Percentages are based on net asset value.

![](image_002.gif)

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

(% of Net Assets)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Schwab Fundamental US Small Company Index - Class I | &nbsp;&nbsp;7.90% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Hennesey Cornerstone Mid Cap 30 - Class I | &nbsp;&nbsp;7.85% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Aegis Value - Class I | &nbsp;&nbsp;7.78% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;Oberweis Micro Cap –<br> Investor Class | &nbsp;&nbsp;7.08% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Congress Small Cap Growth - Class I | &nbsp;&nbsp;6.99% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Fuller &Thaler Behavioral Small Cap Equity - Class I | &nbsp;&nbsp;6.76% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Invesco Small Cap Value -<br> Class Y | &nbsp;&nbsp;6.75% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Natixis Vaughan Nelson Small Cap Value - Class Y | &nbsp;&nbsp;6.59% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Vanguard Small Cap Value Index - Admiral Class | &nbsp;&nbsp;6.56% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Hood River Small Cap Growth - Class I | &nbsp;&nbsp;6.46% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;70.72% |

---

\*Excludes Short-Term Investments.

**<u>HOW HAS THE FUND CHANGED</u>**

The Fund has not had any material changes during the six months ended June 30, 2025.

**<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 MH Elite Funds at 1-800-318-7969, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Funds or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit www.mhelite.com. or contact us at 1-800-318-7969.

SEMI-ANNUAL SHAREHOLDER REPORT

**June 30, 2025 (Unaudited)**

MH ELITE FUND OF FUNDS

***MHEFX***

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

This semi-annual shareholder report contains important information about the MH Elite Fund of Funds - MHEFX (the "Fund") for the period January 1, 2025 to June 30, 2025, as well as certain changes to the Fund.

You can find additional information about the Fund at www.mhelite.com. You can also request this information by contacting us at 1-800-318-7969.

**<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;MH Elite Fund of Funds | &nbsp;&nbsp;$64 | &nbsp;&nbsp;1.25% |

---

\*Annualized

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;NET ASSETS: | &nbsp;&nbsp;$27730254 |
| &nbsp;&nbsp;PORTFOLIO HOLDINGS: | &nbsp;&nbsp;18 |
| &nbsp;&nbsp;PORTFOLIO TURNOVER: | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;ADVISORY FEES PAID BY FUND: | &nbsp;&nbsp;$131183 |

---

**<u>portfolio illustration</u>**

The following chart gives a visual breakdown of the Fund by Morningstar® categories of the underlying funds. Percentages are based on net asset value.

![](image_004.gif)

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

(% of Net Assets)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Shelton Capital Management Nasdaq-100 Index - Investor Class | &nbsp;&nbsp;10.36% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Vanguard Tax-Managed Capital Appreciation - Admiral Class | &nbsp;&nbsp;7.66% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Putnam Large Cap Value - Class Y | &nbsp;&nbsp;7.47% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;BNY Mellon Dynamic Value - Class I | &nbsp;&nbsp;7.17% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Pear Tree Quality - Class I | &nbsp;&nbsp;7.11% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Putnam Core Equity - Class R6 | &nbsp;&nbsp;6.98% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Huber Select Large Cap Value - Class I | &nbsp;&nbsp;5.72% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Fidelity Large Cap Growth Index | &nbsp;&nbsp;5.63% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;GQG Partners U.S. Select Quality Equity - Class I | &nbsp;&nbsp;5.33% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Fidelity Mega Cap Stock | &nbsp;&nbsp;5.21% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;68.64% |

---

\*Excludes Short-Term Investments.

**<u>HOW HAS THE FUND CHANGED</u>**

The Fund has not had any material changes during the six months ended June 30, 2025.

**<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 MH Elite Funds at 1-800-318-7969, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Funds or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit www.mhelite.com. or contact us at 1-800-318-7969.

SEMI-ANNUAL SHAREHOLDER REPORT

**June 30, 2025 (Unaudited)**

MH ELITE SELECT PORTFOLIO OF FUNDS

***MHESX***

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

This semi-annual shareholder report contains important information about the MH Elite Select Portfolio of Funds – MHESX (the "Fund") for the period January 1, 2025 to June 30, 2025, as well as certain changes to the Fund.

You can find additional information about the Fund at www.mhelite.com. You can also request this information by contacting us at 1-800-318-7969.

**<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;MH Elite Select Portfolio of Funds | &nbsp;&nbsp;$67 | &nbsp;&nbsp;1.25% |

---

\*Annualized

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;NET ASSETS: | &nbsp;&nbsp;$8166313 |
| &nbsp;&nbsp;PORTFOLIO HOLDINGS: | &nbsp;&nbsp;15 |
| &nbsp;&nbsp;PORTFOLIO TURNOVER: | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;ADVISORY FEES PAID BY FUND: | &nbsp;&nbsp;$37603 |

---

**<u>portfolio illustration</u>**

The following chart gives a visual breakdown of the Fund by Morningstar® categories of the underlying funds. Percentages are based on net asset value.

![](image_006.gif)

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

(% of Net Assets)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Thornburg Global Opportunities - Class I | &nbsp;&nbsp;9.89% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Driehaus Emerging Markets Small Cap Growth | &nbsp;&nbsp;9.30% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;WCM Focused International Growth - Class I | &nbsp;&nbsp;8.47% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;GQG Partners Emerging Markets Equity - Class I | &nbsp;&nbsp;8.45% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Goldman Sachs GQG Partners International Opportunities - Investor Class | &nbsp;&nbsp;7.80% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;State Street Hedged International Developed Equity Index - Class K | &nbsp;&nbsp;7.70% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Schwab Fundamental International Equity Index | &nbsp;&nbsp;6.88% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Vanguard Industrials Index - Admiral Class | &nbsp;&nbsp;6.84% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;Third Avenue Value - Class I | &nbsp;&nbsp;6.73% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Hartford International Value - Class I | &nbsp;&nbsp;6.70% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;78.76% |

---

\*Excludes Short-Term Investments.

**<u>HOW HAS THE FUND CHANGED</u>**

The Fund has not had any material changes during the six months ended June 30, 2025.

**<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 MH Elite Funds at 1-800-318-7969, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Funds or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit www.mhelite.com. or contact us at 1-800-318-7969.

SEMI-ANNUAL SHAREHOLDER REPORT

**June 30, 2025 (Unaudited)**

MH ELITE INCOME FUND OF FUNDS

***MHEIX***

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

This semi-annual shareholder report contains important information about the MH Elite Income Fund of Funds – MHEIX (the "Fund") for the period January 1, 2025 to June 30, 2025, as well as certain changes to the Fund.

You can find additional information about the Fund at www.mhelite.com. You can also request this information by contacting us at 1-800-318-7969.

**<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;MH Elite Income Fund of Funds | &nbsp;&nbsp;$64 | &nbsp;&nbsp;1.25% |

---

\*Annualized

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

---

| | |
|:---|:---|
| &nbsp;&nbsp;NET ASSETS: | &nbsp;&nbsp;$14597426 |
| &nbsp;&nbsp;PORTFOLIO HOLDINGS: | &nbsp;&nbsp;22 |
| &nbsp;&nbsp;PORTFOLIO TURNOVER: | &nbsp;&nbsp;0.00% |
| &nbsp;&nbsp;ADVISORY FEES PAID BY FUND: | &nbsp;&nbsp;$72306 |

---

**<u>portfolio illustration</u>**

The following chart gives a visual breakdown of the Fund by Morningstar® categories of the underlying funds. Percentages are based on net asset value.

![](image_008.gif)

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

(% of Net Assets)

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;1. | &nbsp;&nbsp;Dodge & Cox Global Bond - Class I | &nbsp;&nbsp;5.79% |
| &nbsp;&nbsp;2. | &nbsp;&nbsp;Victory Core Plus Intermediate Bond | &nbsp;&nbsp;5.73% |
| &nbsp;&nbsp;3. | &nbsp;&nbsp;Vanguard Tax-Managed Balanced - Admiral Class | &nbsp;&nbsp;5.60% |
| &nbsp;&nbsp;4. | &nbsp;&nbsp;BrandywineGLOBAL High Yield - Class I | &nbsp;&nbsp;5.53% |
| &nbsp;&nbsp;5. | &nbsp;&nbsp;Dodge & Cox Income - Class I | &nbsp;&nbsp;5.52% |
| &nbsp;&nbsp;6. | &nbsp;&nbsp;Fidelity Multi-Asset Income | &nbsp;&nbsp;5.50% |
| &nbsp;&nbsp;7. | &nbsp;&nbsp;Fidelity Select Utilities Portfolio | &nbsp;&nbsp;5.14% |
| &nbsp;&nbsp;8. | &nbsp;&nbsp;Vanguard Emerging Markets Bond - Admiral Class | &nbsp;&nbsp;4.97% |
| &nbsp;&nbsp;9. | &nbsp;&nbsp;River Canyon Total Return Bond Class I | &nbsp;&nbsp;4.71% |
| &nbsp;&nbsp;10. | &nbsp;&nbsp;Franklin Convertible Securities Advisor Class | &nbsp;&nbsp;4.68% |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total % of Net Assets | &nbsp;&nbsp;53.17% |

---

\*Excludes Short-Term Investments.

**<u>HOW HAS THE FUND CHANGED</u>**

The Fund has not had any material changes during the six months ended June 30, 2025.

**<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 MH Elite Funds at 1-800-318-7969, or contact your financial intermediary. Your instructions will typically be effective within 30 days of receipt by Funds or your financial intermediary.

For additional information about the Fund; including its prospectus, financial information, holdings and proxy information, visit www.mhelite.com. or contact us at 1-800-318-7969.

**Item 2. Code of Ethics.**

Not required in Semi-Annual Reports on Form N-CSR.

**Item 3. Audit Committee Financial Expert.**

Not required in Semi-Annual Reports on Form N-CSR.

**Item 4. Principal Accountant Fees and Services.**

Not required in Semi-Annual Reports on Form N-CSR.

**Item 5. Audit Committee of Listed Registrants.**

Not required in Semi-Annual Reports on Form N-CSR.

**Item 6. Investments.**

&nbsp;&nbsp;&nbsp;&nbsp;(a) Schedule 7 - Investment in Securities of Unaffiliated Issuers. The complete schedule of investments is included in the report to shareholders in Item 7 of this Form N-CSR.

&nbsp;&nbsp;&nbsp;&nbsp;(b) The Registrant made no divestments of securities in accordance with Section 13(c) of the Investment Company Act of 1940.

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

MH Elite Portfolio of Funds Trust

---

| | |
|:---|:---|
| &nbsp;&nbsp;MH Elite Small Cap Fund of Funds | &nbsp;&nbsp;(MHELX) |
| &nbsp;&nbsp;MH Elite Fund of Funds | &nbsp;&nbsp;(MHEFX) |
| &nbsp;&nbsp;MH Elite Select Portfolio of Funds | &nbsp;&nbsp;(MHESX) |
| &nbsp;&nbsp;MH Elite Income Fund of Funds | &nbsp;&nbsp;(MHEIX) |

---

Semi-Annual Financial Statements

June 30, 2025

(Unaudited)

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** |  |
| &nbsp;&nbsp;**Schedule of Investments** | &nbsp;&nbsp;**Schedule of Investments** |  |
| &nbsp;&nbsp;**June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**June 30, 2025 (Unaudited)** |  |
| &nbsp;&nbsp;**<u>Shares</u>** |  | &nbsp;&nbsp;**<u>Value</u>** |
| &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 98.73%** | &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 98.73%** |  |
| &nbsp;&nbsp;**Mid Growth - 6.01%** | &nbsp;&nbsp;**Mid Growth - 6.01%** |  |
| &nbsp;&nbsp;11864 | &nbsp;&nbsp;Virtus KAR Small Cap Core - Class I \* | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 661645 |
| &nbsp;&nbsp;**Small Blend - 38.12%** | &nbsp;&nbsp;**Small Blend - 38.12%** |  |
| &nbsp;&nbsp;15439 | &nbsp;&nbsp;Fidelity Stock Selector Small Cap \* | &nbsp;&nbsp;571233 |
| &nbsp;&nbsp;16605 | &nbsp;&nbsp;Fuller &Thaler Behavioral Small Cap Equity - Class I \* | &nbsp;&nbsp;744914 |
| &nbsp;&nbsp;13943 | &nbsp;&nbsp;Paradigm Micro Cap \* | &nbsp;&nbsp;679143 |
| &nbsp;&nbsp;50466 | &nbsp;&nbsp;Schwab Fundamental US Small Company Index - Class I \* | &nbsp;&nbsp;869527 |
| &nbsp;&nbsp;19894 | &nbsp;&nbsp;Thrivent Small Cap Stock - Class S \* | &nbsp;&nbsp;607747 |
| &nbsp;&nbsp;35434 | &nbsp;&nbsp;Vaughan Nelson Small Cap - Class Y \* | &nbsp;&nbsp;725684 |
|  |  | &nbsp;&nbsp;4198248 |
| &nbsp;&nbsp;**Small Growth - 25.65%** | &nbsp;&nbsp;**Small Growth - 25.65%** |  |
| &nbsp;&nbsp;16248 | &nbsp;&nbsp;Congress Small Cap Growth - Class I \* | &nbsp;&nbsp;770144 |
| &nbsp;&nbsp;9653 | &nbsp;&nbsp;Hood River Small Cap Growth - Class I \* | &nbsp;&nbsp;711521 |
| &nbsp;&nbsp;17228 | &nbsp;&nbsp;Oberweis Micro Cap - Investor Class \* | &nbsp;&nbsp;779383 |
| &nbsp;&nbsp;21096 | &nbsp;&nbsp;Oberweis Small-Cap Opportunities - Class I \* | &nbsp;&nbsp;563695 |
|  |  | &nbsp;&nbsp;2824743 |
| &nbsp;&nbsp;**Small Value - 28.95%** | &nbsp;&nbsp;**Small Value - 28.95%** |  |
| &nbsp;&nbsp;18719 | &nbsp;&nbsp;Aegis Value - Class I \* | &nbsp;&nbsp;856565 |
| &nbsp;&nbsp;36870 | &nbsp;&nbsp;Hennesey Cornerstone Mid Cap 30 - Class I \* | &nbsp;&nbsp;864971 |
| &nbsp;&nbsp;28660 | &nbsp;&nbsp;Invesco Small Cap Value Index - Class Y \* | &nbsp;&nbsp;743441 |
| &nbsp;&nbsp;8626 | &nbsp;&nbsp;Vanguard Small Cap Value Index - Admiral Class | &nbsp;&nbsp;722773 |
|  |  | &nbsp;&nbsp;3187750 |
| &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $8,608,445) - 98.73% | &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $8,608,445) - 98.73% | &nbsp;&nbsp;$10872386 |
| &nbsp;&nbsp;**MONEY MARKET FUND - 0.51%** | &nbsp;&nbsp;**MONEY MARKET FUND - 0.51%** |  |
| &nbsp;&nbsp;56677 | &nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio - Class I 4.23% \*\* | &nbsp;&nbsp;56677 |
| &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $56,677) - 0.51% | &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $56,677) - 0.51% | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 56677 |
| &nbsp;&nbsp;**INVESTMENTS IN SECURITIES, AT VALUE (Cost $8,665,122) - 99.24%** | &nbsp;&nbsp;**INVESTMENTS IN SECURITIES, AT VALUE (Cost $8,665,122) - 99.24%** | &nbsp;&nbsp;$10929063 |
| &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITES - 0.76%** | &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITES - 0.76%** | &nbsp;&nbsp;83594 |
| &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;$11012657 |

---

---

| |
|:---|
| &nbsp;&nbsp;\* Non-income producing securities during the period. |
| &nbsp;&nbsp;\*\* Variable rate security; the money market rate shown represents the seven day yield at June 30, 2025 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Fund of Funds** |  |
| &nbsp;&nbsp;**Schedule of Investments** | &nbsp;&nbsp;**Schedule of Investments** |  |
| &nbsp;&nbsp;**June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**June 30, 2025 (Unaudited)** |  |
| &nbsp;&nbsp;**<u>Shares</u>** |  | &nbsp;&nbsp;**<u>Value</u>** |
| &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 97.87%** | &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 97.87%** |  |
| &nbsp;&nbsp;**Financial - 5.04%** | &nbsp;&nbsp;**Financial - 5.04%** |  |
| &nbsp;&nbsp;7230 | &nbsp;&nbsp;Fidelity Select Brokerage & Investment Management | &nbsp;&nbsp;$1397646 |
|  |  | &nbsp;&nbsp;1397646 |
| &nbsp;&nbsp;**Large Blend - 40.23%** | &nbsp;&nbsp;**Large Blend - 40.23%** |  |
| &nbsp;&nbsp;66707 | &nbsp;&nbsp;GQG Partners US Select Quality Equity - Class I \* | &nbsp;&nbsp;1478223 |
| &nbsp;&nbsp;50283 | &nbsp;&nbsp;Fidelity Mega Cap Stock \* | &nbsp;&nbsp;1445642 |
| &nbsp;&nbsp;71589 | &nbsp;&nbsp;Pear Tree Quality - Class I \* | &nbsp;&nbsp;1972986 |
| &nbsp;&nbsp;23053 | &nbsp;&nbsp;Federated Hermes MDT All Cap Core - Class R6 \* | &nbsp;&nbsp;1129597 |
| &nbsp;&nbsp;42745 | &nbsp;&nbsp;Putnam Core Equity - Class R6 \* | &nbsp;&nbsp;1934203 |
| &nbsp;&nbsp;13000 | &nbsp;&nbsp;T. Rowe Price Dividend Growth - Investor Class | &nbsp;&nbsp;1070810 |
| &nbsp;&nbsp;6665 | &nbsp;&nbsp;Vanguard Tax-Managed Capital Appreciation - Admiral Class | &nbsp;&nbsp;2124380 |
|  |  | &nbsp;&nbsp;11155841 |
| &nbsp;&nbsp;**Large Growth - 28.16%** | &nbsp;&nbsp;**Large Growth - 28.16%** |  |
| &nbsp;&nbsp;37539 | &nbsp;&nbsp;Fidelity Large Cap Growth Index \* | &nbsp;&nbsp;1560106 |
| &nbsp;&nbsp;30000 | &nbsp;&nbsp;Loomis Sayles Growth - Class I \* | &nbsp;&nbsp;953400 |
| &nbsp;&nbsp;19950 | &nbsp;&nbsp;Principal Blue Chip - Class I \* | &nbsp;&nbsp;991322 |
| &nbsp;&nbsp;68322 | &nbsp;&nbsp;Shelton Capital Management Nasdaq-100 Index - Investor Class | &nbsp;&nbsp;2873622 |
| &nbsp;&nbsp;18147 | &nbsp;&nbsp;T. Rowe Price All-Cap Opportunities - Investor Class \* | &nbsp;&nbsp;1430181 |
|  |  | &nbsp;&nbsp;7808631 |
| &nbsp;&nbsp;**Large Value - 24.44%** | &nbsp;&nbsp;**Large Value - 24.44%** |  |
| &nbsp;&nbsp;31956 | &nbsp;&nbsp;Columbia Dividend Income - Class I2 | &nbsp;&nbsp;1136367 |
| &nbsp;&nbsp;41457 | &nbsp;&nbsp;BNY Mellon Dynamic Value - Class I \* | &nbsp;&nbsp;1987048 |
| &nbsp;&nbsp;47006 | &nbsp;&nbsp;Huber Select Large Cap Value - Class I \* | &nbsp;&nbsp;1585046 |
| &nbsp;&nbsp;56286 | &nbsp;&nbsp;Putnam Large Cap Value - Class Y | &nbsp;&nbsp;2070216 |
|  |  | &nbsp;&nbsp;6778677 |
| &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $19,001,270) - 97.87% | &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $19,001,270) - 97.87% | &nbsp;&nbsp;$27140795 |
| &nbsp;&nbsp;**MONEY MARKET FUND - 1.89%** | &nbsp;&nbsp;**MONEY MARKET FUND - 1.89%** |  |
| &nbsp;&nbsp;523834 | &nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio - Class I 4.23% \*\* | &nbsp;&nbsp;523834 |
| &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $523,834) - 1.89% | &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $523,834) - 1.89% | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 523834 |
| &nbsp;&nbsp;**INVESTMENTS IN SECURITIES, AT VALUE (Cost $19,525,104) - 99.76%** | &nbsp;&nbsp;**INVESTMENTS IN SECURITIES, AT VALUE (Cost $19,525,104) - 99.76%** | &nbsp;&nbsp;$27664629 |
| &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITES - 0.24%** | &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITES - 0.24%** | &nbsp;&nbsp;65625 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;$27730254 |
| &nbsp;&nbsp;\* Non-income producing securities during the period. |  |
| &nbsp;&nbsp;\*\* Variable rate security; the money market rate shown represents the seven day yield at June 30, 2025. |  |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |  |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** |  |
| &nbsp;&nbsp;**Schedule of Investments** | &nbsp;&nbsp;**Schedule of Investments** |  |
| &nbsp;&nbsp;**June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**June 30, 2025 (Unaudited)** |  |
| &nbsp;&nbsp;**<u>Shares</u>** |  | &nbsp;&nbsp;**<u>Value</u>** |
| &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 99.74%** | &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 99.74%** |  |
| &nbsp;&nbsp;**Diversified Emerging Markets - 23.52%** | &nbsp;&nbsp;**Diversified Emerging Markets - 23.52%** |  |
| &nbsp;&nbsp;31683 | &nbsp;&nbsp;Driehaus Emerging Markets Small Cap Growth \* | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 759756 |
| &nbsp;&nbsp;39727 | &nbsp;&nbsp;GQG Partners Emerging Markets Equity - Class I \* | &nbsp;&nbsp;690449 |
| &nbsp;&nbsp;18167 | &nbsp;&nbsp;Matthews Emerging Markets Small Companies - Class I \* | &nbsp;&nbsp;470172 |
|  |  | &nbsp;&nbsp;1920377 |
| &nbsp;&nbsp;**Foreign Large Blend - 13.93%** | &nbsp;&nbsp;**Foreign Large Blend - 13.93%** |  |
| &nbsp;&nbsp;12810 | &nbsp;&nbsp;MFS International Equity - Class R6 \* | &nbsp;&nbsp;508419 |
| &nbsp;&nbsp;4776 | &nbsp;&nbsp;State Street Hedged International Developed Equity Index - Class K \* | &nbsp;&nbsp;628853 |
|  |  | &nbsp;&nbsp;1137272 |
| &nbsp;&nbsp;**Foreign Large Growth - 16.27%** | &nbsp;&nbsp;**Foreign Large Growth - 16.27%** |  |
| &nbsp;&nbsp;28242 | &nbsp;&nbsp;Goldman Sachs GQG Partners Inernational Opportunities - Investor Class \* | &nbsp;&nbsp;637143 |
| &nbsp;&nbsp;25304 | &nbsp;&nbsp;WCM Focused International Growth - Class I \* | &nbsp;&nbsp;691825 |
|  |  | &nbsp;&nbsp;1328968 |
| &nbsp;&nbsp;**Foreign Large Value - 13.58%** | &nbsp;&nbsp;**Foreign Large Value - 13.58%** |  |
| &nbsp;&nbsp;24426 | &nbsp;&nbsp;Hartford International Value - Class I \* | &nbsp;&nbsp;547389 |
| &nbsp;&nbsp;44749 | &nbsp;&nbsp;Schwab Fundamental International Equity Index \* | &nbsp;&nbsp;561600 |
|  |  | &nbsp;&nbsp;1108989 |
| &nbsp;&nbsp;**Global Large Blend - 9.89%** | &nbsp;&nbsp;**Global Large Blend - 9.89%** |  |
| &nbsp;&nbsp;18767 | &nbsp;&nbsp;Thornburg Global Opportunities - Class I \* | &nbsp;&nbsp;807548 |
| &nbsp;&nbsp;**Global Small/Mid Stock - 6.73%** | &nbsp;&nbsp;**Global Small/Mid Stock - 6.73%** |  |
| &nbsp;&nbsp;8459 | &nbsp;&nbsp;Third Avenue Value - Class I \* | &nbsp;&nbsp;549812 |
| &nbsp;&nbsp;**Industrials - 10.35%** | &nbsp;&nbsp;**Industrials - 10.35%** |  |
| &nbsp;&nbsp;3880 | &nbsp;&nbsp;Vanguard Industrials Index - Admiral Class | &nbsp;&nbsp;558299 |
| &nbsp;&nbsp;6111 | &nbsp;&nbsp;Fidelity Select Industrial Portfolio | &nbsp;&nbsp;287216 |
|  |  | &nbsp;&nbsp;845515 |
| &nbsp;&nbsp;**Natural Resources - 5.47%** | &nbsp;&nbsp;**Natural Resources - 5.47%** |  |
| &nbsp;&nbsp;4499 | &nbsp;&nbsp;Vanguard Materials Index - Admiral Class | &nbsp;&nbsp;446569 |
| &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $6,895,525) - 99.74% | &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $6,895,525) - 99.74% | &nbsp;&nbsp;$8145050 |
| &nbsp;&nbsp;**MONEY MARKET FUND - 0.09%** | &nbsp;&nbsp;**MONEY MARKET FUND - 0.09%** |  |
| &nbsp;&nbsp;7041 | &nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio - Class I 4.23% \*\* | &nbsp;&nbsp;7041 |
| &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $7,041) - 0.09% | &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $7,041) - 0.09% | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;7041 |

---

---

| | |
|:---|:---|
| &nbsp;&nbsp;**INVESTMENTS IN SECURITIES, AT VALUE (Cost $6,902,566) - 99.83%** | &nbsp;&nbsp;$8152091 |
| &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITES - 0.17%** | &nbsp;&nbsp;14222 |
| &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;$8166313 |
| &nbsp;&nbsp;\* Non-income producing securities during the period. |  |
| &nbsp;&nbsp;\*\* Variable rate security; the money market rate shown represents the seven day yield at June 30, 2025. |  |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |  |

---

---

| | | |
|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |  |
| &nbsp;&nbsp;**Schedule of Investments** | &nbsp;&nbsp;**Schedule of Investments** |  |
| &nbsp;&nbsp;**June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**June 30, 2025 (Unaudited)** |  |
| &nbsp;&nbsp;**<u>Shares</u>** |  | &nbsp;&nbsp;**<u>Value</u>** |
| &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 93.54%** | &nbsp;&nbsp;**OPEN-END MUTUAL FUNDS - 93.54%** |  |
| &nbsp;&nbsp;**Asset Allocation - 19.92%** | &nbsp;&nbsp;**Asset Allocation - 19.92%** |  |
| &nbsp;&nbsp;54759 | &nbsp;&nbsp;Fidelity Multi-Asset Income | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 803313 |
| &nbsp;&nbsp;76328 | &nbsp;&nbsp;PIMCO Inflation Response Multi-Asset - Class I | &nbsp;&nbsp;664817 |
| &nbsp;&nbsp;21961 | &nbsp;&nbsp;T Rowe Price Capital Appreciation & Income - Investor Class | &nbsp;&nbsp;622584 |
| &nbsp;&nbsp;17661 | &nbsp;&nbsp;Vanguard Tax-Managed Balanced - Admiral Class | &nbsp;&nbsp;816831 |
|  |  | &nbsp;&nbsp;2907545 |
| &nbsp;&nbsp;**Bank Loan - 10.00%** | &nbsp;&nbsp;**Bank Loan - 10.00%** |  |
| &nbsp;&nbsp;40577 | &nbsp;&nbsp;BNY Mellon Floating Rate Income - Class I | &nbsp;&nbsp;450812 |
| &nbsp;&nbsp;65684 | &nbsp;&nbsp;Fidelity Floating Rate High Income | &nbsp;&nbsp;602326 |
| &nbsp;&nbsp;43956 | &nbsp;&nbsp;T. Rowe Price Floating Rate - Investor Class | &nbsp;&nbsp;407033 |
|  |  | &nbsp;&nbsp;1460171 |
| &nbsp;&nbsp;**Convertibles - 4.68%** | &nbsp;&nbsp;**Convertibles - 4.68%** |  |
| &nbsp;&nbsp;28675 | &nbsp;&nbsp;Franklin Convertible Securities - Advisor Class | &nbsp;&nbsp;683618 |
| &nbsp;&nbsp;**Emerging Markets Bond - 4.97%** | &nbsp;&nbsp;**Emerging Markets Bond - 4.97%** |  |
| &nbsp;&nbsp;30409 | &nbsp;&nbsp;Vanguard Emerging Markets Bond - Admiral Class | &nbsp;&nbsp;724941 |
| &nbsp;&nbsp;**Global Bond - 8.15%** | &nbsp;&nbsp;**Global Bond - 8.15%** |  |
| &nbsp;&nbsp;75930 | &nbsp;&nbsp;Dodge & Cox Global Bond - Class I | &nbsp;&nbsp;845860 |
| &nbsp;&nbsp;34369 | &nbsp;&nbsp;T. Rowe Price Global Multi-Sector Bond - Investor Class | &nbsp;&nbsp;343346 |
|  |  | &nbsp;&nbsp;1189206 |
| &nbsp;&nbsp;**High Yield Bond - 9.84%** | &nbsp;&nbsp;**High Yield Bond - 9.84%** |  |
| &nbsp;&nbsp;68150 | &nbsp;&nbsp;Artisan High Income - Advisor Class | &nbsp;&nbsp;629022 |
| &nbsp;&nbsp;79413 | &nbsp;&nbsp;BrandywineGLOBAL High Yield - Class I | &nbsp;&nbsp;806840 |
|  |  | &nbsp;&nbsp;1435862 |
| &nbsp;&nbsp;**Intermediate Core-Plus Bond - 11.26%** | &nbsp;&nbsp;**Intermediate Core-Plus Bond - 11.26%** |  |
| &nbsp;&nbsp;63792 | &nbsp;&nbsp;Dodge & Cox Income - Class I | &nbsp;&nbsp;806333 |
| &nbsp;&nbsp;90580 | &nbsp;&nbsp;Victory Core Plus Intermediate Bond | &nbsp;&nbsp;836960 |
|  |  | &nbsp;&nbsp;1643293 |
| &nbsp;&nbsp;**Multisector Bond - 12.73%** | &nbsp;&nbsp;**Multisector Bond - 12.73%** |  |
| &nbsp;&nbsp;51128 | &nbsp;&nbsp;CrossingBridge Low Duration High Yield - Class I | &nbsp;&nbsp;497720 |
| &nbsp;&nbsp;62480 | &nbsp;&nbsp;PIMCO Income - Class I | &nbsp;&nbsp;672913 |
| &nbsp;&nbsp;68262 | &nbsp;&nbsp;River Canyon Total Return Bond - Class I | &nbsp;&nbsp;688084 |
|  |  | &nbsp;&nbsp;1858717 |
| &nbsp;&nbsp;**Short-Term Bond - 6.85%** | &nbsp;&nbsp;**Short-Term Bond - 6.85%** |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;44625 | &nbsp;&nbsp;BBH Limited Duration - Class I | &nbsp;&nbsp;468116 |
| &nbsp;&nbsp;65057 | &nbsp;&nbsp;PIMCO Low Duration Income - Class I | &nbsp;&nbsp;531512 |
|  |  | &nbsp;&nbsp;999628 |
| &nbsp;&nbsp;**Utilities - 5.14%** | &nbsp;&nbsp;**Utilities - 5.14%** |  |
| &nbsp;&nbsp;5949 | &nbsp;&nbsp;Fidelity Select Utilities Portfolio | &nbsp;&nbsp;750982 |
| &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $13,226,800) - 93.54% | &nbsp;&nbsp;TOTAL OPEN-END MUTUAL FUNDS (Cost $13,226,800) - 93.54% | &nbsp;&nbsp;$13653963 |
| &nbsp;&nbsp;**MONEY MARKET FUND - 6.20%** | &nbsp;&nbsp;**MONEY MARKET FUND - 6.20%** |  |
| &nbsp;&nbsp;905684 | &nbsp;&nbsp;Fidelity Investments Money Market Government Portfolio - Class I 4.23% \*\* | &nbsp;&nbsp;905684 |
| &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $905,684) - 6.20% | &nbsp;&nbsp;TOTAL MONEY MARKET FUND (Cost $905,684) - 6.20% | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 905684 |
| &nbsp;&nbsp;**INVESTMENTS IN SECURITIES, AT VALUE (Cost $14,132,484) - 99.74%** | &nbsp;&nbsp;**INVESTMENTS IN SECURITIES, AT VALUE (Cost $14,132,484) - 99.74%** | &nbsp;&nbsp;$14559647 |
| &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITES - 0.26%** | &nbsp;&nbsp;**OTHER ASSETS LESS LIABILITES - 0.26%** | &nbsp;&nbsp;37779 |
| &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;**NET ASSETS - 100.00%** | &nbsp;&nbsp;$14597426 |
| &nbsp;&nbsp;\*\* Variable rate security; the money market rate shown represents the seven day yield at June 30, 2025. | &nbsp;&nbsp;\*\* Variable rate security; the money market rate shown represents the seven day yield at June 30, 2025. |  |
| &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;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** |
| &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;**June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**June 30, 2025 (Unaudited)** | |
|  | &nbsp;&nbsp; **Small Cap**<br> **Fund of**<br> **Funds** | &nbsp;&nbsp; **Fund of**<br> **Funds** | &nbsp;&nbsp; **Select**<br> **Portfolio**<br> **of Funds** | <br>&nbsp;&nbsp; **Income**<br> **Fund of**<br> **Funds** |
| &nbsp;&nbsp;Assets: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Investments in Securities, at Value (Cost $8,665,122, $19,525,104, | &nbsp;&nbsp;$10929063 | &nbsp;&nbsp;$27664629 | &nbsp;&nbsp;$8152091 | &nbsp;&nbsp;$14559647 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $6,902,566, and $14,132,484, respectively) |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Cash | &nbsp;&nbsp;91062 | &nbsp;&nbsp;89267 | &nbsp;&nbsp;22356 | &nbsp;&nbsp;13410 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Receivables: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Gain Distributions from Underlying Fund | &nbsp;&nbsp;3376 | &nbsp;&nbsp;1940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;36156 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Dividends and Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2131 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 86 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3101 |
| &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; 11023702 | &nbsp;&nbsp; 27757967 | &nbsp;&nbsp; 8174533 | &nbsp;&nbsp; 14612314 |
| &nbsp;&nbsp;Liabilities: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Payables: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Due to Advisor | &nbsp;&nbsp;11045 | &nbsp;&nbsp;27713 | &nbsp;&nbsp;8220 | &nbsp;&nbsp;14888 |
| &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;11045 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27713 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8220 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14888 |
| &nbsp;&nbsp;Net Assets | &nbsp;&nbsp;$11012657 | &nbsp;&nbsp;$27730254 | &nbsp;&nbsp;$8166313 | &nbsp;&nbsp;$14597426 |
| &nbsp;&nbsp;Net Assets Consist of: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Paid In Capital | &nbsp;&nbsp;$8803988 | &nbsp;&nbsp;$19715505 | &nbsp;&nbsp;$6954134 | &nbsp;&nbsp;$14231309 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributable Earnings | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2208669 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8014749 | &nbsp;&nbsp; 1212179 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 366117 |
| &nbsp;&nbsp;Net Assets | &nbsp;&nbsp;$11012657 | &nbsp;&nbsp;$27730254 | &nbsp;&nbsp;$8166313 | &nbsp;&nbsp;$14597426 |
| &nbsp;&nbsp;Shares Outstanding (1,000,000,000 shares authorized with no par value) | &nbsp;&nbsp;1382828 | &nbsp;&nbsp;3114787 | &nbsp;&nbsp;1371220 | &nbsp;&nbsp;2777951 |
| &nbsp;&nbsp;Net Asset Value Per Share | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.96 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.90 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.96 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25 |
| &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 accompanying notes are an integral part of these financial statements. |  |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** | &nbsp;&nbsp;**MH Elite Portfolio of Funds Trust** |
| &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 June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**For the six months ended June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**For the six months ended June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**For the six months ended June 30, 2025 (Unaudited)** | &nbsp;&nbsp;**For the six months ended June 30, 2025 (Unaudited)** |
|  | &nbsp;&nbsp; **Small Cap**<br> **Fund of**<br> **Funds** | &nbsp;&nbsp; **Fund of**<br> **Funds** | &nbsp;&nbsp; **Select**<br> **Portfolio**<br> **of Funds** | &nbsp;&nbsp; **Income**<br> **Fund of**<br> **Funds** |
| &nbsp;&nbsp;Investment Income: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Dividends | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7982 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 37546 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6717 | &nbsp;&nbsp;$317810 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Interest | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2737 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5201 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1910 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 22275 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 10719 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 42747 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8627 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;340085 |
| &nbsp;&nbsp;Expenses: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Advisory | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 52792 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 131183 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;37603 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 72306 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Administrative | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13198 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 32796 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9401 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18077 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Total Expenses | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 65990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 163979 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;47004 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 90383 |
| &nbsp;&nbsp;Net Investment Income (Loss) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(55271) | &nbsp;&nbsp; (121232) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (38377) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;249702 |
| &nbsp;&nbsp;Realized and Unrealized Gain (Loss) on Investments: |  |  |  |  |
| &nbsp;&nbsp; Net Realized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9697) | &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; Capital Gain Distributions from Underlying Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9239 |
| &nbsp;&nbsp; Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21921 | &nbsp;&nbsp; 1622714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1025023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294548 |
| &nbsp;&nbsp;Net Realized and Unrealized Gain on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21921 | &nbsp;&nbsp; 1619172 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1026013 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;303787 |
| &nbsp;&nbsp;Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp; $(33350) | &nbsp;&nbsp;$1497940 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 987636 | &nbsp;&nbsp;$553489 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |  |  |  |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** |
| &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;Six Months |  |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;6/30/2025 | &nbsp;&nbsp;12/31/2024 |
| &nbsp;&nbsp;Increase (Decrease) in Net Assets From Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Loss | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;(55271) | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;(57254) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Gain Distributions from Underlying Fund | &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;431314 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain on Investments | &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;467018 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 21921 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;477099 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase (Decrease) in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (33350) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1318177 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions to Shareholders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (881977) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (236079) |
| &nbsp;&nbsp;Capital Share Transactions (Note 5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;841906 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;291590 |
| &nbsp;&nbsp;Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (73421) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1373688 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;11086078 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9712390 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;$11012657 | &nbsp;&nbsp;$11086078 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |  |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** |
| &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;Six Months |  |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;6/30/2025 | &nbsp;&nbsp;12/31/2024 |
| &nbsp;&nbsp;Increase (Decrease) in Net Assets From Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Loss | &nbsp;&nbsp; $(121232) | &nbsp;&nbsp; $(110436) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Gain Distributions from Underlying Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6155 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1052197 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9697) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1384824 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1622714 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1861271 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1497940 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4187856 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions to Shareholders | &nbsp;&nbsp; (2326351) | &nbsp;&nbsp; (1235000) |
| &nbsp;&nbsp;Capital Share Transactions (Note 5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1762596 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1456250 |
| &nbsp;&nbsp;Total Increase | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;934185 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4409106 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26796069 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22386963 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;$27730254 | &nbsp;&nbsp;$26796069 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |  |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** |
| &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;Six Months |  |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;6/30/2025 | &nbsp;&nbsp;12/31/2024 |
| &nbsp;&nbsp;Increase (Decrease) in Net Assets From Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income (Loss) | &nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;(38377) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;73517 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Gain Distributions from Underlying Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 990 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133887 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain on Investments | &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;209900 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1025023 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (358386) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;987636 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 58918 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions to Shareholders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (417208) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (66711) |
| &nbsp;&nbsp;Capital Share Transactions (Note 5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;308574 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;141156 |
| &nbsp;&nbsp;Total Increase | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;879002 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;133363 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7287311 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7153948 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;8166313 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;7287311 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |  |  |

---

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |
| &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;Six Months |  |
|  | &nbsp;&nbsp;Ended | &nbsp;&nbsp;Year Ended |
|  | &nbsp;&nbsp;6/30/2025 | &nbsp;&nbsp;12/31/2024 |
| &nbsp;&nbsp;Increase (Decrease) in Net Assets From Operations: |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Investment Income | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 249702 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 524974 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Capital Gain Distributions from Underlying Fund | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9239 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 43967 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Realized Gain (Loss) on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (35835) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Change in Unrealized Appreciation on Investments | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;294548 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;283527 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Increase in Net Assets Resulting from Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;553489 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;816633 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Distributions to Shareholders | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (526938) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (455809) |
| &nbsp;&nbsp;Capital Share Transactions (Note 5) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (74930) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;967547 |
| &nbsp;&nbsp;Total Increase (Decrease) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (48379) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1328371 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Net Assets |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Beginning of Period/Year | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14645805 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13317434 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;End of Period/Year | &nbsp;&nbsp;$14597426 | &nbsp;&nbsp;$14645805 |
| &nbsp;&nbsp;The accompanying notes are an integral part of these financial statements. |  |  |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** |
| &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;6/30/2025 | &nbsp;&nbsp;12/31/2024 | &nbsp;&nbsp;12/31/2023 | &nbsp;&nbsp;12/31/2022 | &nbsp;&nbsp;12/31/2021 | &nbsp;&nbsp;12/31/2020 |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.69 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.83 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.81 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.56 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.84 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.58 |
| &nbsp;&nbsp;Income From Investment Operations: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income (Loss) (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.05) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.03) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.02) |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &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; 1.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.73) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.52 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.02 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.77) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.24 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.50 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment 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;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.06) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; - |
| &nbsp;&nbsp; Realized Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &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;(0.92) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.52) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.24) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.69) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.19) | &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;(0.98) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.52) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.24) |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.96 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.69 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.83 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.81 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.56 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.84 |
| &nbsp;&nbsp;Total Return (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.44)% &nbsp;&nbsp;(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.82% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.98% | &nbsp;&nbsp; (20.36)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 14.58% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20.41% |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 11013 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 11086 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 9712 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 8094 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 9882 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 8886 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Expenses to Average Net Assets (c) | &nbsp;&nbsp;1.25% &nbsp;&nbsp;(d) | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Net Investment Income (Loss) to Average Net Assets (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.05)% &nbsp;&nbsp;(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.55)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.47)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.54)% | &nbsp;&nbsp;0.59% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.26)% |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;0.00% &nbsp;&nbsp;(e) | &nbsp;&nbsp;16.44% | &nbsp;&nbsp;28.30% | &nbsp;&nbsp;67.56% | &nbsp;&nbsp;16.75% | &nbsp;&nbsp;37.70% |
| &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. |  |  |
| &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. | &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. |  |  |  |  |  |
| &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Small Cap Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Small Cap Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Small Cap Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Small Cap Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Small Cap Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Small Cap Fund of Funds' proportionate share of income and |  |
| &nbsp;&nbsp;expense of the underlying funds. |  |  |  |  |  |  |
| &nbsp;&nbsp;(d) Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;(e) 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;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** |
| &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;6/30/2025 | &nbsp;&nbsp;12/31/2024 | &nbsp;&nbsp;12/31/2023 | &nbsp;&nbsp;12/31/2022 | &nbsp;&nbsp;12/31/2021 | &nbsp;&nbsp;12/31/2020 |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.23 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.24 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.92 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.60 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.56 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.44 |
| &nbsp;&nbsp;Income From Investment Operations: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Loss (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.04) | &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;(0.03) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.05) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.03) |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.51 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.48 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.65 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.45 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.47 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1.44 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.32 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.82) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.60 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.42 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment 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;&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; Realized Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.80) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.45) | &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;(0.86) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.56) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.30) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.80) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.45) | &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;(0.86) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.56) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.30) |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.90 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.23 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.24 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.92 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 9.60 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 8.56 |
| &nbsp;&nbsp;Total Return (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.69% &nbsp;&nbsp;(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 18.57% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19.08% | &nbsp;&nbsp; (20.65)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19.75% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 19.75% |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 27730 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 26796 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 22387 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 16923 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 19631 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 16150 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Expenses to Average Net Assets (c) | &nbsp;&nbsp;1.25% &nbsp;&nbsp;(d) | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Net Investment Loss to Average Net Assets (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.92)% &nbsp;&nbsp;(d) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.44)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.00)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.37)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.60)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.41)% |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;0.00% &nbsp;&nbsp;(e) | &nbsp;&nbsp;31.63% | &nbsp;&nbsp;27.00% | &nbsp;&nbsp;56.44% | &nbsp;&nbsp;12.73% | &nbsp;&nbsp;24.16% |
| &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. |  |
| &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. | &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. |  |  |  |  |  |
| &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Fund of Funds' proportionate share of income and expense of the underlying funds. | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Fund of Funds' proportionate share of income and expense of the underlying funds. | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Fund of Funds' proportionate share of income and expense of the underlying funds. | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Fund of Funds' proportionate share of income and expense of the underlying funds. | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Fund of Funds' proportionate share of income and expense of the underlying funds. | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Fund of Funds' proportionate share of income and expense of the underlying funds. | &nbsp;&nbsp;(c) Net investment income (loss) and expense ratios do not reflect the Fund of Funds' proportionate share of income and expense of the underlying funds. |
| &nbsp;&nbsp;(d) Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;(e) Not annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;\* Less than $0.005 per share. |  |  |  |  |  |  |
| &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. |  |  |  |  |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** |
| &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;6/30/2025 | &nbsp;&nbsp;12/31/2024 | &nbsp;&nbsp;12/31/2023 | &nbsp;&nbsp;12/31/2022 | &nbsp;&nbsp;12/31/2021 | &nbsp;&nbsp;12/31/2020 |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.56 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.06 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.93 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.09 |
| &nbsp;&nbsp;Income From Investment Operations: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income (Loss) (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.03) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.06 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.01 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.01) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.02) |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.75 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.02) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.58 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.79) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.46 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.72 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.04 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.62 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(1.78) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 0.45 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 1.17 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.06) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.04) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.01) | &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;(0.07) |
| &nbsp;&nbsp; Realized Gains | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.26) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.01) | &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;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.26) |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.05) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.01) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.32) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(0.33) |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.96 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.56 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.57 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.96 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.06 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.93 |
| &nbsp;&nbsp;Total Return (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 13.78% &nbsp;&nbsp;(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.77% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 12.53% | &nbsp;&nbsp; (26.30)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;6.72% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 20.22% |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 8166 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7287 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7154 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 5952 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7671 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 7185 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Expenses to Average Net Assets (c) | &nbsp;&nbsp;1.25% &nbsp;&nbsp;(d) | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Net Investment Income (Loss) to Average Net Assets (c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (1.02)% &nbsp;&nbsp;(d) | &nbsp;&nbsp;0.99% | &nbsp;&nbsp;0.83% | &nbsp;&nbsp;0.21% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.08)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.37)% |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;0.00% &nbsp;&nbsp;(e) | &nbsp;&nbsp;44.36% | &nbsp;&nbsp;32.27% | &nbsp;&nbsp;44.10% | &nbsp;&nbsp;8.20% | &nbsp;&nbsp;20.38% |
| &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. |  |  |
| &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. | &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. |  |  |  |  |  |
| &nbsp;&nbsp;(c) Net investment loss and expense ratios do not reflect the Select Portfolio of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment loss and expense ratios do not reflect the Select Portfolio of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment loss and expense ratios do not reflect the Select Portfolio of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment loss and expense ratios do not reflect the Select Portfolio of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment loss and expense ratios do not reflect the Select Portfolio of Funds' proportionate share of income and |  |  |
| &nbsp;&nbsp;expense of the underlying funds. |  |  |  |  |  |  |
| &nbsp;&nbsp;(d) Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;(e) 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. |  |  |  |  |  |

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| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |
| &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;6/30/2025 | &nbsp;&nbsp;12/31/2024 | &nbsp;&nbsp;12/31/2023 | &nbsp;&nbsp;12/31/2022 | &nbsp;&nbsp;12/31/2021 | &nbsp;&nbsp;12/31/2020 |
| &nbsp;&nbsp;Net Asset Value, at Beginning of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.89 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.38 |
| &nbsp;&nbsp;Income From Investment Operations: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income (a)(c) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.09 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.17 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.14 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.08 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.09 |
| &nbsp;&nbsp; Net Gain (Loss) on Securities (Realized and Unrealized) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.10 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.11 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.18 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.68) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.05 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Total from Investment Operations | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.19 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.30 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.35 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.54) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.13 | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;0.28 |
| &nbsp;&nbsp;Distributions: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Investment Income | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.07) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.13) |
| &nbsp;&nbsp; Realized Gains | &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; (0.08) | &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 from Distributions | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.19) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.17) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.12) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.15) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.08) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (0.13) |
| &nbsp;&nbsp;Net Asset Value, at End of Period/Year | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.25 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.12 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 4.89 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.58 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.53 |
| &nbsp;&nbsp;Total Return (b) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3.77% &nbsp;&nbsp;(e) | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 6.19% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 7.33% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; (9.85)% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 2.44% | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 5.26% |
| &nbsp;&nbsp;Ratios/Supplemental Data: |  |  |  |  |  |  |
| &nbsp;&nbsp; Net Assets at End of Period/Year (Thousands) | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 14597 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 14646 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 13317 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 11550 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp; 10451 | &nbsp;&nbsp;$&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8814 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Expenses to Average Net Assets (c) | &nbsp;&nbsp;1.25% &nbsp;&nbsp;(d) | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Ratio of Net Investment Income to Average Net Assets (c) | &nbsp;&nbsp;3.45% &nbsp;&nbsp;(d) | &nbsp;&nbsp;3.80% | &nbsp;&nbsp;3.55% | &nbsp;&nbsp;2.79% | &nbsp;&nbsp;1.46% | &nbsp;&nbsp;1.85% |
| &nbsp;&nbsp; Portfolio Turnover | &nbsp;&nbsp;0.00% &nbsp;&nbsp;(e) | &nbsp;&nbsp;12.38% | &nbsp;&nbsp;45.57% | &nbsp;&nbsp;22.51% | &nbsp;&nbsp;9.96% | &nbsp;&nbsp;25.32% |
| &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. | &nbsp;&nbsp;(a) Per share net investment income (loss) has been determined on the average number of shares outstanding during the year. |  |
| &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. | &nbsp;&nbsp;(b) Total return assumes reinvestment of dividends and capital gains, if any. |  |  |  |  |  |
| &nbsp;&nbsp;(c) Net investment income and expense ratios do not reflect the Income Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income and expense ratios do not reflect the Income Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income and expense ratios do not reflect the Income Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income and expense ratios do not reflect the Income Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income and expense ratios do not reflect the Income Fund of Funds' proportionate share of income and | &nbsp;&nbsp;(c) Net investment income and expense ratios do not reflect the Income Fund of Funds' proportionate share of income and |  |
| &nbsp;&nbsp;expense of the underlying funds. |  |  |  |  |  |  |
| &nbsp;&nbsp;(d) Annualized. |  |  |  |  |  |  |
| &nbsp;&nbsp;(e) 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. |  |  |  |  |  |

---

**MH Elite Portfolio of Funds Trust**

NOTES TO FINANCIAL STATEMENTS

JUNE 30, 2025 (UNAUDITED)

**1. ORGANIZATION AND SIGNIFICANT ACCOUNTING POLICIES**

MH Elite Portfolio of Funds Trust is an open-end diversified management investment company under the Investment Company Act of 1940 and the Securities and Exchange Act of 1933. MH Elite Portfolio of Funds, Inc. was originally organized as a corporation in New Jersey on October 20, 1997. On January 1, 2014, MH Elite Portfolio of Funds, Inc. merged into a new Delaware statutory trust called the MH Elite Portfolio of Funds Trust, pursuant to Board and shareholder approval. MH Elite Portfolio of Funds Trust continues the operations of its predecessor New Jersey corporation. MH Elite Portfolio of Funds Trust offers four funds to investors; MH Elite Small Cap Fund of Funds, MH Elite Fund of Funds, MH Elite Select Portfolio of Funds and MH Elite Income Fund of Funds (collectively, "the Funds"). The sale to its initial investor in MH Elite Small Cap Fund of Funds occurred on February 17, 1998, the sale to its initial investor in MH Elite Fund of Funds occurred on January 13, 2004, the sale to its initial investor in MH Elite Select Portfolio of Funds occurred on April 6, 2006 and the sale to its initial investor in MH Elite Income Fund of Funds occurred on August 15, 2011.

The primary objective of the Small Cap Fund of Funds, Fund of Funds and Select Portfolio of Funds is long-term capital appreciation through investing in diversified and non-diversified regulated investment companies that will invest in equity securities.

The primary objective of the Income Fund of Funds is income, with the potential for capital appreciation as a secondary objective by investing in regulated investment companies.

MH Elite Portfolio of Funds Trust follows the accounting and reporting guidance in FASB Accounting Standards Codification 946.

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

 

*Security Valuation –* All investments in securities are recorded at their estimated fair value, as described in note 6.

*Underlying Fund Valuation –* Underlying funds are valued at the last reported net asset value as quoted by the respective fund with the resulting unrealized gains and losses included in income. United States Government obligations and other debt instruments having sixty days or less remaining until maturity are valued at amortized cost.

*Federal Income Taxes –* The Funds' policy is to continue to comply with the requirements of the Internal Revenue Code that are applicable to regulated investment companies and to distribute all its taxable income to its shareholders. Each of the Funds intend to distribute sufficient net investment income and net capital gains, if any, so that it will not be subject to excise tax on undistributed income and gains. Therefore, no federal income tax or excise provision is required.

 

*Distributions to Shareholders –* Dividends from net investment income, if any, are declared and paid annually. Capital gains, if any, are distributed to shareholders at least annually. Distributions are based on amounts calculated in accordance with applicable federal income tax regulations, which may differ from generally accepted accounting principles. These differences are due primarily to differing treatments of income and gain on various investment securities held by the Funds, timing differences and differing characterizations of distributions made by the Funds.

 

*Security transactions and Investment Income* – Security transactions are recorded on a trade date basis. Realized gain and loss on investments sold are recorded on the basis of identified cost. Dividend income and capital gain distributions from underlying funds are recorded on the ex-dividend date. Interest income from money market funds are recognized on an accrual basis when earned.

*Cash and Cash Equivalents –* Each Fund maintains its cash in an account at a custodian bank, which, at times, may exceed federally insured limits. The Funds have not experienced any losses in such account and believe they are not exposed to any significant credit risk on its cash deposits.

*Use of Estimates –* The preparation of financial statements in conformity with U.S. generally accepted accounting principles ("GAAP") requires management to make estimates and assumptions that affect the reported amount of assets and liabilities and disclosure of contingent assets and liabilities at the date of 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.

**2. INVESTMENT ADVISORY FEES AND OTHER TRANSACTIONS WITH AFFILIATES**

MH Investment Management Incorporated, (the "Adviser") furnishes the Funds with investment advice and, in general, supervises the management and investment program of the Funds. Harvey Merson and Jeff Holcombe each own 50 percent of the Adviser. Under the Investment Advisory Agreement, the Funds have agreed to pay the Investment Adviser an annual fee, payable monthly, of a percentage of each of the Funds' average daily net assets.

The expenses and fees that a shareholder of the Funds will incur are based on the Fund's average daily net assets and are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |
| &nbsp;&nbsp;Advisory Fees | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;1.00% | &nbsp;&nbsp;1.00% |
| &nbsp;&nbsp;Administrative Service Fees | &nbsp;&nbsp;0.25% | &nbsp;&nbsp;0.25% | &nbsp;&nbsp;0.25% | &nbsp;&nbsp;0.25% |
| &nbsp;&nbsp;Total Annual Fund Operating Expenses | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% | &nbsp;&nbsp;1.25% |

---

Other expenses of 0.25% will be paid to MH Investment Management Inc. as per the administrative services agreement. Under the agreement, MH Investment Management Inc. has agreed to pay the expenses incurred for the conduct of business by the Funds. The expenses incurred by the Funds that exceed the total annual fund operating expenses will be paid by the Adviser. The management fees and expenses of the underlying funds in which the Funds invest are not reflected in the table above. Generally, the operating expenses of the underlying funds range from 0.04% to 2.17% of average net assets.

For the six months ended June 30, 2025 the advisory fees for each Fund were:

---

| | |
|:---|:---|
| &nbsp;&nbsp;MH Elite Small Cap Fund of Funds | $&nbsp;&nbsp;52792 |
| &nbsp;&nbsp;MH Elite Fund of Funds | $&nbsp;&nbsp;131183 |
| &nbsp;&nbsp;MH Elite Select Portfolio of Funds | $&nbsp;&nbsp;37603 |
| &nbsp;&nbsp;MH Elite Income Fund of Funds | $&nbsp;&nbsp;72306 |

---

For the six months ended June 30, 2025 administrative service fees for each Fund were:

---

| | |
|:---|:---|
| &nbsp;&nbsp;MH Elite Small Cap Fund of Funds | $&nbsp;&nbsp;13198 |
| &nbsp;&nbsp;MH Elite Fund of Funds | $&nbsp;&nbsp;32796 |
| &nbsp;&nbsp;MH Elite Select Portfolio of Funds | $&nbsp;&nbsp;9401 |
| &nbsp;&nbsp;MH Elite Income Fund of Funds | $&nbsp;&nbsp;18077 |

---

**3. PURCHASES AND SALES OF SECURITIES**

The cost of securities purchased and the proceeds from sale of securities for the six months ended June 30, 2025 aggregated for each Fund were:

---

| | | |
|:---|:---|:---|
| &nbsp;&nbsp;**Fund** | &nbsp;&nbsp;**Purchases** | &nbsp;&nbsp;**Sales** |
| &nbsp;&nbsp;MH Elite Small Cap Fund of Funds | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- |
| &nbsp;&nbsp;MH Elite Fund of Funds | $&nbsp;&nbsp;- | $&nbsp;&nbsp;890303 |
| &nbsp;&nbsp;MH Elite Select Portfolio of Funds | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- |
| &nbsp;&nbsp;MH Elite Income Fund of Funds | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- |

---

**4. INCOME TAXES**

Each Fund's distributable earnings on a tax basis are determined only at the end of each fiscal year. As of December 31, 2024, the Funds most recent year-end, the components of distributable earnings on a tax basis were as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
| **Distributable Earnings/Accumulated Deficit** | &nbsp;&nbsp; **MH Elite**<br> **Small Cap**<br> **Fund of Funds** | &nbsp;&nbsp; <br> **MH Elite**<br> **Fund of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp; <br> **MH Elite Income Fund of Funds** |
| Undistributed ordinary income | $&nbsp;&nbsp;- | $- | $&nbsp;&nbsp;73463 | $&nbsp;&nbsp;524706 |
| Undistributed capital gain | $&nbsp;&nbsp;881976 | $2326349 | $&nbsp;&nbsp;343786 | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- |
| Capital Loss Carryforward | $&nbsp;&nbsp;- | $- | $&nbsp;&nbsp;- | $&nbsp;&nbsp;(317755) |
| Unrealized appreciation | $&nbsp;&nbsp;2242020 | $6516811 | $&nbsp;&nbsp;224502 | $&nbsp;&nbsp;132615 |
| Total distributable earnings/(accumulated deficit) | $&nbsp;&nbsp;3123996 | $8843160 | $&nbsp;&nbsp;641751 | $&nbsp;&nbsp;339566 |

---

Ordinary income and long-term capital gain distributions are determined in accordance with Federal income tax regulations, which may differ from the character of net investment income or net realized gains presented in the financial statements in accordance with U.S. GAAP.

At December 31, 2024, certain Funds had undistributed earnings and as a result the Funds' management declared distributions to the shareholders of record on January 9, 2025 with an ex and pay date of January 10, 2025. The components and amounts of the distributions are listed below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Distribution** | &nbsp;&nbsp; **MH Elite**<br> **Small Cap Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Small Cap Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Fund of Funds** |
|  | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share |
| &nbsp;&nbsp;Ordinary Income<sup>1</sup> | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- | $&nbsp;&nbsp;46801 | $&nbsp;&nbsp;0.016163 |
| &nbsp;&nbsp;Long Term Capital Gain | $&nbsp;&nbsp;881977 | $&nbsp;&nbsp;0.693760 | $&nbsp;&nbsp;2279550 | $&nbsp;&nbsp;0.787263 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Distribution** | &nbsp;&nbsp; **MH Elite**<br> **Select Portfolio of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Select Portfolio of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Income Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Income Fund of Funds** |
|  | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share |
| &nbsp;&nbsp;Ordinary Income<sup>1</sup> | $&nbsp;&nbsp;106040 | $&nbsp;&nbsp;0.081021 | $&nbsp;&nbsp;526938 | $&nbsp;&nbsp;0.189374 |
| &nbsp;&nbsp;Long Term Capital Gain | $&nbsp;&nbsp;311168 | $&nbsp;&nbsp;0.237750 | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- |

---

At December 31, 2023, certain Funds had undistributed earnings and as a result the Funds' management declared distributions to the shareholders of record on January 9, 2024 with an ex and pay date of January 10, 2024. The components and amounts of the distributions are listed below:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Distribution** | &nbsp;&nbsp; **MH Elite**<br> **Small Cap Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Small Cap Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Fund of Funds** |
|  | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share |
| &nbsp;&nbsp;Ordinary Income<sup>1</sup> | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- | $&nbsp;&nbsp;90503 | $&nbsp;&nbsp;0.033352 |
| &nbsp;&nbsp;Long Term Capital Gain | $&nbsp;&nbsp;236079 | $&nbsp;&nbsp;0.190476 | $&nbsp;&nbsp;1144497 | $&nbsp;&nbsp;0.421768 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Distribution** | &nbsp;&nbsp; **MH Elite**<br> **Select Portfolio of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Select Portfolio of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Income Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Income Fund of Funds** |
|  | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share | &nbsp;&nbsp;Amount | &nbsp;&nbsp;Per Share |
| &nbsp;&nbsp;Ordinary Income<sup>1</sup> | $&nbsp;&nbsp;55266 | $&nbsp;&nbsp;0.043054 | $&nbsp;&nbsp;455809 | $&nbsp;&nbsp;0.175478 |
| &nbsp;&nbsp;Long Term Capital Gain | $&nbsp;&nbsp;11445 | $&nbsp;&nbsp;0.008916 | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- |

---

<sup>1</sup> Ordinary income distributions may include short-term capital gains.

 

*Reclassifications:* Certain Funds recorded a permanent book tax difference in their short term realized gains accounts by reclassifying net investment loss to short term realized gains at December 31, 2024. This reclassification has no impact on the net asset value of the Funds and is designed generally to present undistributed income and net realized gains on a tax basis, which is considered to be more informative to shareholders. At December 31, 2024, the net investment losses for the following Funds are:

---

| | |
|:---|:---|
| &nbsp;&nbsp;MH Elite Small Cap Fund of Funds | $&nbsp;&nbsp;40898 |

---

For Federal income tax purposes - Capital loss carry forwards represent realized losses of the Funds that may be carried forward indefinitely and applied against future gains. As of December 31, 2024, the Funds capital loss carry forwards are listed below.

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp; <br> **Expiring on:** | &nbsp;&nbsp; **MH Elite**<br> **Small Cap**<br> **Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Fund of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |
| &nbsp;&nbsp;Indefinitely: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Short term | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- | $57946 |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Long term | $&nbsp;&nbsp; - | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- | $259809 |
| &nbsp;&nbsp;Total | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- | $&nbsp;&nbsp;- | $317755 |

---

For the year ended December 31, 2024, the MH Elite Income Fund of Funds utilized $8,132 of capital loss carry forward.

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 analyzed the Funds' tax positions and concluded that no liability for unrecognized tax benefits should be recorded related to uncertain tax positions taken on returns filed for open tax years (2021-2023) or expected to be taken in the Funds' 2024 tax returns. The Funds identify their major tax jurisdictions as U.S. federal where the Funds' make significant investments; however, the Funds are not aware of any tax positions for which it is reasonably possible that the total amounts of unrecognized tax benefits will change materially in the next 12 months. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense in the Statement of Operations. During the year ended, December 31, 2024, the Funds did not incur an interest or penalties.

For federal income tax purposes, the tax basis of investments is the same as for financial reporting purposes. At December 31, 2024, on a tax basis, gross unrealized appreciation and depreciation on investments for each Fund were:

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** |
|  |  | &nbsp;&nbsp;Net Unrealized | &nbsp;&nbsp;Cost |
| &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;Depreciation | &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;of Investments |
| &nbsp;&nbsp;$2246985 | &nbsp;&nbsp;$4965 | &nbsp;&nbsp;$2242020 | &nbsp;&nbsp;$8608445<sup>(1)</sup> |

---

---

| | | | |
|:---|:---|:---|:---|
| &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** |
|  |  | &nbsp;&nbsp;Net Unrealized | &nbsp;&nbsp;Cost |
| &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;Depreciation | &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;of Investments |
| &nbsp;&nbsp;$6587646 | &nbsp;&nbsp;$70835 | &nbsp;&nbsp;$6516811 | &nbsp;&nbsp;$19901270<sup>(1)</sup> |
| &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** |
|  |  | &nbsp;&nbsp;Net Unrealized | &nbsp;&nbsp;Cost |
| &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;Depreciation | &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;of Investments |
| &nbsp;&nbsp;$523382 | &nbsp;&nbsp;$298880 | &nbsp;&nbsp;$224502 | &nbsp;&nbsp;$6895525<sup>(1)</sup> |
| &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |
|  |  | &nbsp;&nbsp;Net Unrealized | &nbsp;&nbsp;Cost |
| &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;Depreciation | &nbsp;&nbsp;Appreciation | &nbsp;&nbsp;of Investments |
| &nbsp;&nbsp;$500689 | &nbsp;&nbsp;$368074 | &nbsp;&nbsp;$132615 | &nbsp;&nbsp;$13226800<sup>(1)</sup> |

---

<sup>(1)</sup> Excluded short-term securities' cost basis.

**5. CAPITAL SHARE TRANSACTIONS**

As of June 30, 2025, 1,000,000,000 shares of no par value capital stock were authorized for all portfolios. Transactions in capital stock for each Fund are as follows:

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** | &nbsp;&nbsp;**MH Elite Small Cap Fund of Funds** |
|  | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 2025** | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 2025** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** |
|  | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** |
| &nbsp;&nbsp;Shares Sold | &nbsp;&nbsp;36967 | &nbsp;&nbsp; $259571 | &nbsp;&nbsp;64768 | &nbsp;&nbsp; $546961 |
| &nbsp;&nbsp; Shares issued in<br> reinvestment of distributions | &nbsp;&nbsp;110523 | &nbsp;&nbsp;881977 | &nbsp;&nbsp;31688 | &nbsp;&nbsp;236079 |
| &nbsp;&nbsp;Shares redeemed | &nbsp;&nbsp; (40296) | &nbsp;&nbsp; (299642) | &nbsp;&nbsp; (60502) | &nbsp;&nbsp; (491450) |
| &nbsp;&nbsp;Net Increase | &nbsp;&nbsp;107194 | &nbsp;&nbsp;$841906 | &nbsp;&nbsp;35954 | &nbsp;&nbsp;$291590 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** | &nbsp;&nbsp;**MH Elite Fund of Funds** |
|  | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 2025** | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 2025** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** |
|  | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** |
| &nbsp;&nbsp;Shares Sold | &nbsp;&nbsp;44747 | &nbsp;&nbsp;$349859 | &nbsp;&nbsp;205039 | &nbsp;&nbsp;$1780305 |
| &nbsp;&nbsp; Shares issued in<br> reinvestment of distributions | &nbsp;&nbsp;278272 | &nbsp;&nbsp;2326351 | &nbsp;&nbsp;158740 | &nbsp;&nbsp;1235000 |
| &nbsp;&nbsp;Shares redeemed | &nbsp;&nbsp; (110843) | &nbsp;&nbsp;(913614) | &nbsp;&nbsp; (179130) | &nbsp;&nbsp;(1559055) |
| &nbsp;&nbsp;Net Increase | &nbsp;&nbsp;212176 | &nbsp;&nbsp;$1762596 | &nbsp;&nbsp;184649 | &nbsp;&nbsp;$1456250 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Select Portfolio of Funds** |
|  | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 2025** | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 2025** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** |
|  | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** |
| &nbsp;&nbsp;Shares Sold | &nbsp;&nbsp;15367 | &nbsp;&nbsp;$76683 | &nbsp;&nbsp;77662 | &nbsp;&nbsp;$444155 |
| &nbsp;&nbsp; Shares issued in<br> reinvestment of distributions | &nbsp;&nbsp;80387 | &nbsp;&nbsp;417208 | &nbsp;&nbsp;12263 | &nbsp;&nbsp;66711 |
| &nbsp;&nbsp;Shares redeemed | &nbsp;&nbsp; (34529) | &nbsp;&nbsp;(185317) | &nbsp;&nbsp; (65308) | &nbsp;&nbsp;(369710) |
| &nbsp;&nbsp;Net Increase | &nbsp;&nbsp;61225 | &nbsp;&nbsp;$308574 | &nbsp;&nbsp;24617 | &nbsp;&nbsp;$141156 |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |
|  | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 20025** | &nbsp;&nbsp; **For the six months ended**<br> **June 30, 20025** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** | &nbsp;&nbsp; **For the year ended**<br> **December 31, 2024** |
|  | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** | &nbsp;&nbsp;**<u>Shares</u>** | &nbsp;&nbsp;**<u>Amount</u>** |
| &nbsp;&nbsp;Shares Sold | &nbsp;&nbsp;140576 | &nbsp;&nbsp;$710816 | &nbsp;&nbsp;488484 | &nbsp;&nbsp;$2549506 |
| &nbsp;&nbsp; Shares issued in<br> reinvestment of distributions | &nbsp;&nbsp;104344 | &nbsp;&nbsp;526938 | &nbsp;&nbsp;92456 | &nbsp;&nbsp;455809 |
| &nbsp;&nbsp;Shares redeemed | &nbsp;&nbsp; (256363) | &nbsp;&nbsp; (1312684) | &nbsp;&nbsp; (392173) | &nbsp;&nbsp; (2037768) |
| &nbsp;&nbsp;Net Increase (Decrease) | &nbsp;&nbsp;(11443) | &nbsp;&nbsp;$(74930) | &nbsp;&nbsp;188767 | &nbsp;&nbsp;$967547 |

---

**6. SECURITIES VALUATIONS**

***Processes and Structure***

The Funds' Board of Trustees has adopted methods for valuing securities including in circumstances in which market quotes are not readily available, and has delegated authority to the Funds' investment adviser to apply those methods in making fair value determinations, subject to board oversight. All of the Funds' securities are regularly traded and do not require fair value measurement by a valuation committee. The Funds' board and audit committee review the Funds' investment portfolios quarterly.

***Hierarchy of Fair Value Inputs***

The Funds utilize published securities closing price to measure the fair value of its investments on a recurring basis. GAAP establishes a hierarchy that prioritizes inputs to valuation techniques used to measure fair value. The three levels of inputs are as follows:

Level 1. Unadjusted quoted prices in active markets for identical assets or liabilities that the company has the ability to access.

Level 2. Observable inputs other than quoted prices included in level 1 that are observable for the asset or liability either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates, and similar data.

Level 3. Unobservable inputs for the asset or liability to the extent that relevant observable inputs are not available, representing the Funds' own assumptions about the assumptions that a market participant would use in valuing the asset or liability, and that would be based on the best information available.

The availability of observable inputs can vary from security to security and is affected by a wide variety of factors, including, for example, the type of security, whether the security is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the security. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in level 3.

The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

***Fair Value Measurements***

A description of the valuation techniques applied to each Fund's major categories of assets and liabilities measured at fair value on a recurring basis follows.

Mutual Funds – Investments in mutual funds, including money market funds, are generally priced at the ending NAV provided by the service agent of the funds. These securities will be categorized as Level 1 securities.

The following is a summary of the Funds' fair value hierarchy for those assets measured at fair value on a recurring basis as of June 30, 2025:

---

| | | | | |
|:---|:---|:---|:---|:---|
| &nbsp;&nbsp;**Valuation Inputs** | &nbsp;&nbsp; **MH Elite Small Cap**<br> **Fund of Funds** | &nbsp;&nbsp; **MH Elite**<br> **Fund of Funds** | &nbsp;&nbsp; **MH Elite Select**<br> **Portfolio of Funds** | &nbsp;&nbsp;**MH Elite Income Fund of Funds** |
| &nbsp;&nbsp;Level 1 | &nbsp;&nbsp;$10929063 | &nbsp;&nbsp;$27664629 | &nbsp;&nbsp;$8152091 | &nbsp;&nbsp;$14559647 |
| &nbsp;&nbsp;Level 2 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Level 3 | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- | &nbsp;&nbsp;- |
| &nbsp;&nbsp;Total | &nbsp;&nbsp;$10929063 | &nbsp;&nbsp;$27664629 | &nbsp;&nbsp;$8152091 | &nbsp;&nbsp;$14559647 |

---

The Funds did not hold any Level 3 investments during the six months ended June 30, 2025. The Funds did not hold any derivative instruments at any time during the six months ended June 30, 2025. There were no significant transfers into or out of Level 1 or Level 2 during the period. It is the Funds' policy to recognize transfers into and out of Level 1 and Level 2 at the end of the reporting period.

**7. INDEMNIFICATIONS** 

In the normal course of business, the Funds enter into contracts that contain general indemnifications to other parties. The Funds' maximum exposure under these contracts is unknown as this would involve future claims that may be made against the Funds that have not yet occurred. The Funds expect the risk of loss to be remote.

**8. MARKET RISK**

Overall market risks may affect the value of the Funds. 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 Funds and their investments and could result in increased premiums or discounts to the Funds' net asset value, and may impair market liquidity, thereby increasing liquidity risk. The Funds 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.

**9. SUBSEQUENT EVENTS**

Subsequent events occurring after the date of the Statement of Assets and Liabilities have been evaluated through the date the financial statements were issued. Management has determined that no events or transactions occurred requiring adjustment or disclosure in the financial statements.

**MH Elite Portfolio of Funds Trust**

additional information

JUNE 30, 2025 (UNAUDITED)

Reference is made to the Prospectus and the Statements of Additional Information for descriptions of the Management Agreements, Services Agreements and Distribution (12b-1) Plans, tax aspects of the Funds and the calculations of the net asset value of shares of the Funds.

**<u>PORTFOLIO HOLDINGS</u>**

The Funds file their complete schedule of portfolio holdings with the Securities and Exchange Commission (the "Commission") for the first and third quarters of each fiscal year on Form N-PORT. The Fund's Forms N-PORT are available on the Commission's website at <u>http://www.sec.gov</u>.

**<u>PROXY VOTING GUIDELINES</u>**

MH Elite Portfolio of Funds Trust has adopted the policy of always voting in line with management recommendations. If, at any time, we feel the fund management of an underlying fund within one of our portfolios is not working in the best interests of our shareholders we will liquidate our position in that fund. It is not our intent to change or alter the management or policies of the underlying funds. The most effective way to voice our concerns or displeasure with the management of a fund company is to simply not invest in their fund(s). We will only invest in fund companies that we feel will help us to meet our investment objectives and, in turn, serve the needs of our shareholders.

A description of the policies and procedures that the Funds use to determine how to vote proxies relating to the portfolio securities is available (i) without charge, upon request, by calling the Funds (toll-free) at 1.800.318.7969 or (ii) on the SEC's website at http://www.sec.gov.

Information regarding how each Fund voted proxies relating to the portfolio securities during the most recent 12-month period ended June 30 is available (i) without charge, upon request, by calling the Funds (toll-free) at 1.800.318.7969 or (ii) on the SEC's website at <u>http://www.sec.gov</u>.

**MH Elite** **Portfolio of Funds Trust**

**43 Highlander Drive**

**Scotch Plains, NJ 07076**

**1-800-318-7969**

**www.mhelite.com**

**Semi-Annual Financial Statements**

**to Shareholders**

**June 30, 2025**

**(UNAUDITED)**

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 an effective prospectus, which includes information regarding the Funds' objectives and policies, experience of its management, marketability of shares, and other information.

**Investment Adviser**

MH Investment Management, Inc.

43 Highlander Drive

Scotch Plains, NJ 07076

**Item 8. Changes in and Disagreements with Accountants for Open-End Management Investment Companies.** There were no changes in or disagreements with accountants during the period covered by this report.

**Item 9. Proxy Disclosures for Open-End Management Investment Companies.** There were no matters submitted to a vote of shareholders during the period covered by this report.

**Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Management Investment Companies.**

The Funds have no plans to compensate Officers and Trustees who are affiliated with the Investment Adviser except indirectly through payment of the advisory fee.

Each Trustee, who is not an 'interested person' as that term is defined in the 1940 Act, of the Funds will be paid an annual fee of $750.00 per Fund for serving as a member of the Board of Trustees for fiscal year 2023. The Chairman of the Board of Trustees will be paid an annual fee of $875.00 per Fund.

**Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract**. Not applicable. There were no approvals of investment advisory contracts during the period January 1, 2025 through June 30, 2025.

**Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.** Not applicable to this Registrant because it is not a closed-end management investment company.

**Item 13. Portfolio Managers of Closed-End Management Investment Companies.** Not applicable to this Registrant because it is not a closed-end management investment company.

**Item 14. Purchases of Equity Securities by Closed-End Management Investment Companies and Affiliated Purchasers.** Not applicable to this Registrant because it is not a closed-end management investment company.

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

**Item 16. Controls and Procedures.**

(a) <u>Disclosure Controls and Procedures</u>. Based on an evaluation of the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) carried out under the supervision and with the participation of the Registrant's management, including its principal executive and financial officers, within 90 days prior to the filing date of this report on Form N-CSR, the Registrant's principal executive and financial officers have concluded that the design and operation of the Registrant's disclosure controls and procedures are effective in providing reasonable assurance that the information required to be disclosed on Form N-CSR is recorded, processed, summarized and reported within the time periods specified in the SEC's rules and forms.

(b) <u>Change in Internal Controls Over Financial Reporting</u>. There were no significant changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) 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.

**Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.** Not applicable to this Registrant because it is not a closed-end management investment company.

**Item 18. Recovery of Erroneously Awarded Compensation.** Not applicable.

**Item 19. Exhibits.**

The following exhibits are attached to this Form:

Exhibit 10(a) Code of Ethics policy for Registrant (refer to Item 2)

Exhibit 10(b)(1) Certification of Principal Executive Officer Required by Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 10(b)(2) Certification of Principle Financial Officer Required by Section 302 of the Sarbanes-Oxley Act of 2002

Exhibit 10(c) Certification of Chief Executive Office and Chief Financial Officer Required by Section 906 of the Sarbanes-Oxley Act of 2002.

**SIGNATURES**

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.

<u>MH Elite Portfolio of Funds Trust</u>

By <u>/s/ Harvey Merson</u>

&nbsp;&nbsp;&nbsp;&nbsp; Harvey Merson

&nbsp;&nbsp;&nbsp;&nbsp; President (Principal Executive Officer)

Date: March 12, 2026

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/ Jeff Holcombe</u>

&nbsp;&nbsp;&nbsp;&nbsp; Jeff Holcombe

&nbsp;&nbsp;&nbsp;&nbsp; Vice President (Principal Financial Officer)

Date: March 12, 2026

## Ex-99.Cert

**Section 302 Certifications**

**MH ELITE PORTFOLIO OF FUNDS TRUST<br> CERTIFICATION** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I, Harvey Merson, the Chief Executive Officer of MH Elite Portfolio of Funds Trust, certify that:

1. I have reviewed this report on Form N-CSR of MH Elite Portfolio of Funds Trust;

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 and changes in net assets of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer 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 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: March 12, 2026 | <br>&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Harvey Merson</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Harvey Merson,<br> &nbsp;&nbsp;&nbsp;&nbsp;Chief Executive Officer |

---

**MH ELITE PORTFOLIO OF FUNDS TRUST<br> CERTIFICATION**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I, Jeff Holcombe, the Chief Financial Officer of MH Elite Portfolio of Funds Trust, certify that:

1. I have reviewed this report on Form N-CSR of MH Elite Portfolio of Funds Trust;

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 and changes in net assets of the registrant as of, and for, the periods presented in this report;

4. The registrant's other certifying officer 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 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: March 12, 2026 | <br>&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Jeff Holcombe</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Jeff Holcombe,<br> &nbsp;&nbsp;&nbsp;&nbsp;Chief Financial Officer |

---

## Exhibit 99.906

**Section 906 Certifications**

**MH ELITE PORTFOLIO OF FUNDS TRUST**

**<u>Certification Pursuant to Section 906 of the Sarbanes-Oxley Act</u>**

Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002, each of the undersigned officers of the MH Elite Portfolio of Funds Trust, does hereby certify, to such officer's knowledge, that the report on Form N-CSR of MH Elite Portfolio of Funds Trust for the period ended June 30, 2025 fully complies with the requirements of Section 13(a) or 15(d) of the Securities Exchange Act of 1934, as applicable, and that the information contained in the Form N-CSR fairly presents, in all material respects, the financial condition and results of operations of MH Elite Portfolio of Funds Trust for the stated period.

---

| | |
|:---|:---|
| Date: March 12, 2026 | <br>&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Harvey Merson</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Harvey Merson, Chief Executive Officer |
| Date: March 12, 2026 | <br>&nbsp;&nbsp;&nbsp;&nbsp;<u>/s/ Jeff Holcombe</u><br>&nbsp;&nbsp;&nbsp;&nbsp;Jeff Holcombe, Chief Financial Officer |

---

This statement accompanies this report on Form N-CSR pursuant to Section 906 of the Sarbanes-Oxley Act of 2002 and shall not be deemed as filed by MH Elite Portfolio of Funds Trust for purposes of Section 18 of the Securities Exchange Act of 1934.

<br>