Schedule of Investments

May 31, 2025 (unaudited)

The Texas Fund

Shares or Principal

Security Description

Amount ($)

Fair Value ($)(1)

Common Stocks - 96.69%

Automobiles - 1.49%

Tesla, Inc. (2)

588

203,718

Banks - 8.35%

Comerica, Inc.

1,750

99,908

Cullen/Frost Bankers, Inc.

1,605

203,803

First Financial Bankshares, Inc.

2,035

71,754

International Bancshares Corp. (2)

2,310

144,675

Mr. Cooper Group, Inc. (2)

1,488

192,741

Prosperity Bancshares, Inc.

1,455

101,341

South Plains Financial, Inc.

3,260

117,262

Stellar Bancorp, Inc.

4,083

109,914

Veritex Holdings, Inc.

4,160

100,672

1,142,070

Capital Goods - 10.62%

Caterpillar, Inc.

597

207,774

Comfort Systems USA, Inc.

228

109,036

CSW Industrials, Inc.

582

177,970

IES Holdings, Inc. (2)

446

115,808

Jacobs Solutions, Inc.

540

68,202

Kratos Defense & Security (2)

2,242

82,707

Lennox International, Inc.

178

100,472

NOW, Inc. (2)

11,072

159,658

Powell Industries, Inc.

444

75,298

Quanta Services, Inc.

226

77,419

Rush Enterprises, Inc. Class A

2,550

126,608

Thermon Group Holdings, Inc. (2)

3,895

101,036

Trinity Industries, Inc.

2,006

51,634

1,453,623

Chemicals - 0.97%

Celanese Corp. Series A

535

28,264

Kronos Worldwide, Inc.

4,881

30,897

Westlake Chemical Corp.

1,031

73,232

132,393

Commercial & Professional Services - 3.15%

Amentum Holdings, Inc. (2)

33

679

CECO Environmental Corp. (2)

3,460

93,039

Copart, Inc. (2)

1,340

68,983

Ennis, Inc.

5,062

94,508

Waste Management, Inc.

720

173,498

430,707

Construction & Engineering - 1.50%

AECOM

153,680

153,680

KBR, Inc.

51,668

51,668

205,348

Construction Materials - 3.04%

Eagle Materials, Inc.

559

113,035

United States Lime & Mineral, Inc.

2,950

303,201

416,236

Consumer Durables & Apparel - 2.47%

D.R. Horton, Inc.  

563

66,468

Green Brick Partners, Inc.  (2)

2,338

136,656

LGI Homes, Inc.  (2)

990

49,599

Legacy Housing Corp.  (2)

3,800

84,702

337,425

Consumer Services - 3.79%

Brinker International, Inc.

1,567

270,511

Service Corp. International

1,300

101,400

Wingstop, Inc.

430

146,931

518,842

Diversified Financials - 6.67%

Main Street Capital Corp.

1,876

106,707

P10, Inc. Class A

8,435

91,604

Sixth Street Specialty Lending, Inc.

5,220

121,574

Texas Pacific Land Corp.

183

203,867

The Charles Schwab Corp.

2,500

220,850

TPG, Inc.

3,480

167,492

912,095

Energy - 0.19%

Marathon Petroleum Corp.

160

25,718

Energy Equipment & Services - 0.88%

ChampionX Corp.  

3,015

72,571

Select Water Solutions, Inc.

5,892

47,372

119,943

Engineering & Construction - 0.37%

Arcosa, Inc.

587

50,640

Financial Services - 0.17%

AST SpaceMobile, Inc. Class A

1,000

23,070

Food, Beverage & Tobacco - 1.16%

Keurig Dr. Pepper, Inc.

4,701

158,283

Health Care Equipment & Services - 6.08%

Addus HomeCare Corp.  (2)

670

74,310

CorVel Corp. (2)

2,463

274,058

Integer Holdings Corp. (2)

595

70,662

McKesson Corp.

420

302,194

Tenet Healthcare Corp. (2)

655

110,544

831,768

Household & Personal Products - 1.25%

Kimberly-Clark Corp.   

1,193

171,506

Insurance - 1.11%

Globe Life, Inc.

1,250

152,338

Integrated Oil & Gas - 2.25%

Exxon Mobil Corp.

2,441

249,714

Occidental Petroleum Corp.    

1,437

58,601

308,315

Machinery-Diversified - 0.44%

Flowserve Corp.   

1,202

59,992

Media & Entertainment - 2.32%

Cinemark Holdings, Inc.

6,320

213,426

Nexstar Media Group, Inc. Class A

610

103,956

317,383

Metals & Mining - 0.77%

Commercial Metals Co.

2,255

105,060

Oil & Gas  - 0.19%

Sitio Royalties Corp. Class A

1,528

26,083

Oil & Gas Equipment Services - 0.44%

Halliburton Co.  

779

15,261

Tidewater, Inc. (2)

1,131

44,912

60,173

Oil & Gas Exploration & Production - 3.70%

ConocoPhillips

2,788

237,956

Diamondback Energy, Inc.

693

93,243

EOG Resources, Inc.

801

86,965

Matador Resources Co.

400

17,204

Range Resources Corp.  

1,867

71,021

506,388

Oil & Gas Refining & Marketing - 2.78%

CVR Energy, Inc. (2)

3,645

85,257

HF Sinclair Corp.

2,143

77,427

Par Pacific Holdings, Inc. (2)

1,676

36,185

Phillips 66

760

86,245

Valero Energy Corp.

741

95,567

380,680

Oil & Gas Storage & Transportation - 1.42%

Cheniere Energy, Inc.  

314

74,415

Kinder Morgan, Inc.

2,518

70,605

Targa Resources Corp.

311

49,116

194,136

Oil, Gas & Consumable Fuels - 5.74%

APA Corp.

5,275

89,728

Berry Corp.

3,405

8,138

Chevron Corp.

861

117,699

Chord Energy Corp.

643

57,870

Kinetik Holdings, Inc. Class A

1,540

68,592

Magnolia Oil & Gas Corp. Class A

4,339

93,289

Murphy Oil Corp.

3,938

82,422

Permian Resources Corp.

4,363

55,017

Uranium Energy Corp.  (2)

35,934

213,089

785,843

Real Estate Management & Development - 0.62%

Forestar Group, Inc. (2)

4,430

84,835

Retail & Wholesale - Discertionary - 0.55%

Academy Sports & Outdoors, Inc.  

1,826

74,702

Retailing - 2.03%

Amazon.com, Inc. (2)

610

125,056

Group 1 Automotive, Inc.

360

152,611

277,667

Semiconductors & Semiconductor Equipment - 1.61%

Texas Instruments, Inc.

1,205

220,334

Software & Services - 8.31%

Alkami Technology, Inc. (2)

6,425

184,012

Crowdstrike Holdings, Inc. Class A (2)

420

197,975

Oracle Corp.

1,415

234,225

Q2 Holdings, Inc. (2)

1,640

143,533

TaskUs,  Inc Class A  (2)

8,995

149,317

Tyler Technologies, Inc. (2)

395

227,911

1,136,973

Technology Hardware & Equipment - 4.54%

Apple, Inc.

660

132,561

Dell Technologies, Inc. Class C

1,370

152,440

Flex Ltd.

5,325

225,248

HP, Inc.

6,450

111,456

621,704

Telecommunication Services - 2.87%

AT&T, Inc.

9,520

264,656

Frontier Communications Parent, Inc. (2)

3,535

128,073

392,729

Transportation - 1.10%

Kirby Corp. (2)

1,355

149,917

Utilities - 1.76%

Vistra Corp.

1,500

240,855

Total Common Stock

(Cost $            9,743,991)

13,229,492

Warrants - 0.04%

Intergrated Oil & Gas - 0.04%

Occidental Petroleum Corp., 08/03/2027 @ $22.00

301

5,848

Total Warrants

(Cost $                          0)

5,848

Money Market Registered Investment Companies - 1.87%

Federated Hermes Government Obligations Fund - Institutional Class - 4.18% (3)

255,786

255,786

Total Money Market Registered Investment Companies

(Cost $               255,786)

255,786

Total Investments - 100.01%

(Cost $          10,577,388)

13,683,327

Liabilities Less Other Assets - (0.01%)

(960)

Total Net Assets - 100.00%

13,682,367

Purchased Options - 1.40%

Long (Short)

Notional Value of

Fair

Contracts+

Expiration Date

Contracts ($) **

Value ($)

Call Options   

VanEck Vectors Gold Miners, Call @ $48.00

200

7/18/2025

960,000

81,400

VanEck Vectors Gold Miners, Call @ $49.00

300

7/18/2025

1,470,000

98,700

Put Options   

Invesco QQQ Trust, Put @ $450.00

100

6/20/2025

4,500,000

4,900

SPDR S&P Oil & Gas Exploration & Production, Put @ $100.00

100

6/20/2025

1,000,000

1,200

SPDR S&P Regional Banking, Put @ 50.00

400

6/20/2025

2,000,000

6,000

Total Options

(Cost $               577,611)

192,200

(1)  Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments.

       These inputs are summarized in the three broad levels listed below.

        • Level 1 - quoted prices in active markets for identical securities

        • Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)

        • Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)

       The following is a summary of the inputs used as of May 31, 2025 in valuing the Fund's assets carried at fair value:

Investments in

Other Financial

Valuation Inputs

Securities

Instruments

Level 1 - Quoted Prices

$

13,683,327

$

-

Level 2 - Other Significant Observable Inputs

-

-

Level 3 - Significant Unobservable Inputs

-

-

Total

$

13,683,327

$

-

       The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term

       debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment

       Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active

       market, such securities are reflected as Level 2.

(2)  Represents non-income producing securities.

(3)  7-day yield as of May 31, 2025.

**The notional amount is calculated by multiplying outstanding contracts by the exercise price by 100 at May 31, 2025.

+ Each option contract allows the holder of the option to purchase or sell 100 shares of the underlying security.