# EDGAR Filing Document

**Accession Number:** 0000778206
**File Stem:** 0002000324-25-004163
**Filing Date:** 2025-10
**Character Count:** 19094
**Document Hash:** 91b75dfc71b9da3b47ebf162167ab00d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-004163.hdr.sgml**: 20251030

**ACCESSION NUMBER**: 0002000324-25-004163

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251030

**DATE AS OF CHANGE**: 20251030

**PERIOD START**: 20250831

**FILER**: 

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

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

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04417
- **FILM NUMBER:** 251436317

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

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

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

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

## Series and Classes Contracts Data

### Green California Tax-Free Income Fund (Series ID: S000011273)

| Class ID   | Class Name      | Ticker Symbol   |
|:---|:---|:---|
| C000031070 | Investor Shares | CFNTX           |

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

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

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

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

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

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

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

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

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

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

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

- **a. Name of Series:** GREEN CA TAX-FREE INC FND

- **b. EDGAR series identifier (if any):** S000011273

- **c. LEI of Series:** 254900Z435OFZQSCFD48

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

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

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

**Item A.4. Final filing**

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

### Fund Information

**Total Assets:** $33613103.21

**Total Liabilities:** $98641.64

**Net Assets:** $33514461.57

**Cash Not Reported:** $77874.05

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 69.467 | **1-Year:** 2442.327 | **5-Year:** 7122.667 | **10-Year:** 9628.597 | **30-Year:** 4294.549

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 7.769 | **1-Year:** 7.373 | **5-Year:** 12.02 | **10-Year:** 10.115 | **30-Year:** 2.723

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000031070 | 0.78%                | -0.45%               | 0.39%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-53.75                  | $184312.98                                 |
| Month 2  | $-54.05                  | $-220833.43                                |
| Month 3  | $-54.35                  | $80823.15                                  |

### Schedule of Portfolio Investments

| Name                                            | Title                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| FOOTHILL-DE ANZA CALIF CMNTY COLLEGE DIST       | CA FOOHGR 0 08/01/2027    | CUSIP: 345102FH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1436168.25   | 4.29%             | 2027-08-01      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| SANTA MARIA CALIF JT UN HIGH SCH DIST           | CA SMASCD 0 08/01/2029    | CUSIP: 802309JV7<br>LEI: 5493006E0NB791MBEL10 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1352693.70   | 4.04%             | 2029-08-01      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| WILLIAM S HART CALIF UN HIGH SCH DIST           | CA WSHSCD 0 09/01/2029    | CUSIP: 969275PS9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1595000 | PA      | $1442613.86   | 4.30%             | 2029-09-01      | None          | 0.00%                 | No            | 2                  | On Loan: No      |
| UNIVERSITY CALIF                                | CA UNVHGR 05/15/2048      | CUSIP: 91412GSG1<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 2.98%             | 2048-05-15      | Variable      | 3.45%                 | No            | 2                  | On Loan: No      |
| UNIVERSITY CALIF                                | CA UNVHGR 05/15/2048      | CUSIP: 91412GSK2<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.90%             | 2048-05-15      | Variable      | 3.40%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA ST                                   | CA CAS 3 10/01/2028       | CUSIP: 13063CNP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900225.45    | 2.69%             | 2028-10-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN | CA SFOPWR 5 11/01/2030    | CUSIP: 79771KAE6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    180000 | PA      | $180309.74    | 0.54%             | 2030-11-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN | CA SFOPWR 5 11/01/2036    | CUSIP: 79771KAL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    170000 | PA      | $170181.97    | 0.51%             | 2036-11-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK     | CA CASDEV 5 10/01/2033    | CUSIP: 13034AJV3<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1213463.04   | 3.62%             | 2033-10-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| LOS ANGELES CNTY CALIF MET TRANSN AUTH          | CA LOSTRN 4 07/01/2028    | CUSIP: 54466HCF1<br>LEI: 54930051IHTXE1N9RB42 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500328.20    | 1.49%             | 2028-07-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA HEALTH FACS FING AUTH                | CA CASMED 5 11/01/2027    | CUSIP: 13032UMR6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1270210.08   | 3.79%             | 2027-11-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| LOS ANGELES CALIF                               | CA LOSUTL 5.25 06/01/2047 | CUSIP: 53945CGT1<br>LEI: 254900NGUPWO7FB6II89 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1517512.65   | 4.53%             | 2047-06-01      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| SAN FRANCISCO CALIF BAY AREA RAPID TRAN DIST    | CA SFOTRN 5 08/01/2036    | CUSIP: 797661WW1<br>LEI: 549300Y3C3QUMLE3FY58 | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1341077.92   | 4.00%             | 2036-08-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| EAST BAY CALIF MUN UTIL DIST                    | CA EBYWTR 5 06/01/2032    | CUSIP: 271014C67<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $155896.50    | 0.47%             | 2032-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA INFRASTRUCTURE & ECONOMIC DEV BK     | CA CASDEV 5 10/01/2031    | CUSIP: 13034ASE1<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    300000 | PA      | $312398.85    | 0.93%             | 2031-10-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                         | CA CASFIN 5 05/15/2038    | CUSIP: 13049YBG5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    800000 | PA      | $811103.04    | 2.42%             | 2038-05-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| SAN MATEO FOSTER CITY CALIF PUB FING AUTH       | CA SMFFAC 4 08/01/2044    | CUSIP: 79905VAW1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1376922.30   | 4.11%             | 2044-08-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| TURLOCK CALIF IRR DIST                          | CA TURWTR 5 01/01/2036    | CUSIP: 900190KE8<br>LEI: 5493001J7IGC81HEQJ12 | Long             | DBT              | MUN               | US        |    300000 | PA      | $322429.26    | 0.96%             | 2036-01-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                         | CA CASFIN 5 10/01/2044    | CUSIP: 13048VMH8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    480000 | PA      | $487918.42    | 1.46%             | 2044-10-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA HSG FIN AGY                          | CA CASHSG 4 03/20/2033    | CUSIP: 13033DAC9<br>LEI: 549300BOPCVLBA552Z14 | Long             | DBT              | MUN               | US        |    322538 | PA      | $326940.92    | 0.98%             | 2033-03-20      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| UNIV CALIF REGTS MED CTR                        | CA UNVHGR 05/15/2045      | CUSIP: 913366KE9<br>LEI: RRR42I7GG51DB5HDQR14 | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.90%             | 2045-05-15      | Variable      | 3.40%                 | No            | N/A                | On Loan: No      |
| LOS ANGELES CNTY CALIF MET TRANSN AUTH          | CA LOSTRN 5 06/01/2033    | CUSIP: 54466HJW7<br>LEI: 54930051IHTXE1N9RB42 | Long             | DBT              | MUN               | US        |    590000 | PA      | $651911.77    | 1.95%             | 2033-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA EDL FACS AUTH                        | CA CASEDU 5 04/01/2051    | CUSIP: 130179TN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1573452.30   | 4.69%             | 2051-04-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| MILPITAS CALIF UNI SCH DIST                     | CA MLPSCD 3 08/01/2034    | CUSIP: 601670NK4<br>LEI: 549300BL87026BFAVO38 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1454925.75   | 4.34%             | 2034-08-01      | Fixed         | 3.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA ST PUB WKS BRD                       | CA CASFAC 4 05/01/2036    | CUSIP: 13068XEX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    540000 | PA      | $553371.37    | 1.65%             | 2036-05-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| SAN DIEGO CALIF PUB FACS FING AUTH              | CA SDOUTL 5 05/15/2052    | CUSIP: 79730AKY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1521031.05   | 4.54%             | 2052-05-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| PENINSULA CORRIDOR JT PWRS BRD CALIF            | CA PECGEN 5 06/01/2036    | CUSIP: 707121AM1<br>LEI: 549300EWZ3063STMF882 | Long             | DBT              | MUN               | US        |    200000 | PA      | $219721.42    | 0.66%             | 2036-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| WALNUT VALLEY CALIF UNI SCH DIST                | CA WVYSCD 5 08/01/2036    | CUSIP: 932889ZZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    835000 | PA      | $934280.33    | 2.79%             | 2036-08-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| LOS ANGELES CALIF UNI SCH DIST                  | CA LOSSCD 5 07/01/2026    | CUSIP: 544647FL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $614852.64    | 1.83%             | 2026-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| SAN JOSE CALIF FING AUTH                        | CA SJSUTL 5 11/01/2052    | CUSIP: 79816NBA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534983.00   | 4.58%             | 2052-11-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA ST                                   | CA CAS 5.25 10/01/2045    | CUSIP: 13063D4E5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528330.45    | 1.58%             | 2045-10-01      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| SAN DIEGO CNTY CALIF REGL TRANSN COMMN          | CA SDGTRN 5 04/01/2037    | CUSIP: 797400PS1<br>LEI: W4FR340A6EQ2SSI17B56 | Long             | DBT              | MUN               | US        |    500000 | PA      | $560353.20    | 1.67%             | 2037-04-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| DESERT CALIF CMNTY COLLEGE DIST                 | CA DESHGR 4 08/01/2051    | CUSIP: 250375NC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $650550.30    | 1.94%             | 2051-08-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| SACRAMENTO CALIF MUN UTIL DIST                  | CA SACPWR 5 11/15/2054    | CUSIP: 786005K64<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |    565000 | PA      | $578020.20    | 1.72%             | 2054-11-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| SACRAMENTO CALIF MUN UTIL DIST                  | CA SACPWR 5 11/15/2033    | CUSIP: 786005L30<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |    500000 | PA      | $586572.05    | 1.75%             | 2033-11-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| SAN FRANCISCO CALIF CITY & CNTY PUB UTILS COMMN | CA SFOUTL 5 10/01/2049    | CUSIP: 79768HKN7<br>LEI: 549300RA28ZEFOB6M782 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024527.60   | 3.06%             | 2049-10-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| LOS ANGELES CALIF UNI SCH DIST                  | CA LOSSCD 5 07/01/2045    | CUSIP: 544647JK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $780621.75    | 2.33%             | 2045-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| SAN DIEGO CALIF UNI SCH DIST                    | CA SDGEDU 4 07/01/2054    | CUSIP: 797356MV1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1121692.26   | 3.35%             | 2054-07-01      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| CHAFFEY CMNTY COLLEGE DIST CALIF                | CA CHFHGR 5.5 06/01/2049  | CUSIP: 157432LU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $539210.25    | 1.61%             | 2049-06-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| EAST BAY CALIF MUN UTIL DIST                    | CA EBYWTR 5 06/01/2050    | CUSIP: 271014T36<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1038473.80   | 3.10%             | 2050-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |

### Signature

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

**Name of Applicant:** SHELTON FUNDS

**Signature:** /s/ Gregory Pusch

**Name of Signer:** Gregory Pusch

**Title:** General Counsel and CCO