Concorde Wealth Management Fund
Schedule of Investments
June 30, 2026 (Unaudited)

COMMON STOCKS - 55.2%

Shares  

Value  
Finance and Insurance - 6.7%

Berkshire Hathaway, Inc. - Class B (a)

            1,300

    $        650,507
Chubb Ltd. (b)

            2,500

             851,850
JPMorgan Chase & Co. (b)

            4,100

             1,342,053




             2,844,410






Information - 1.9%

Microsoft Corp. (b)

            2,200

             820,644






Management of Companies and Enterprises - 1.4%

Bunge Global SA (b)

            5,550

             592,351






Manufacturing - 12.1%

AbbVie, Inc. (b)

            4,200

             1,056,888
Cisco Systems, Inc. (b)

            6,500

             763,490
Hershey Co.

            3,690

             647,410
Hubbell, Inc.

            1,400

             732,480
Johnson & Johnson

            3,700

             939,689
Louisiana-Pacific Corp.

            8,600

             676,476
Northrop Grumman Corp.

            650

             331,052




             5,147,485






Mining, Quarrying, and Oil and Gas Extraction - 22.2%

Black Stone Minerals LP

            100,336

             1,401,694
Diamondback Energy, Inc.

            6,500

             1,142,570
Expand Energy Corp.

            11,400

             1,039,566
Exxon Mobil Corp. (b)

            7,936

             1,085,010
Franco-Nevada Corp.

            3,100

             646,164
Martin Marietta Materials, Inc.

            1,000

             576,700
Occidental Petroleum Corp.

            18,600

             903,402
Texas Pacific Land Corp.

            5,955

             2,606,146




             9,401,252






Retail Trade - 6.3%

Amazon.com, Inc. (a)

            5,000

             1,191,700
Lowe's Cos., Inc.

            2,800

             617,372
TJX Cos., Inc. (b)

            5,700

             863,550




             2,672,622






Transportation and Warehousing - 1.3%

Canadian Pacific Kansas City Ltd.

            6,500

             563,225






Wholesale Trade - 3.3%

Energy Transfer LP

            72,500

             1,386,200
TOTAL COMMON STOCKS (Cost $11,243,513)

             23,428,189






PRIVATE FUNDS - 9.6%

Shares  

Value  
CLI Capital (a)(c)

            95,455

             479,302
LLR Equity Partners V, LP (a)(c)

            990,000

             1,242,420
LLR Equity Partners VII, LP (a)(c)

            320,000

             362,105
LRVHealth, LP (a)(c)

            500,000

             596,752
Moran Tice 20:20 Fund, LP (a)(c)

            500,000

             919,770


RCP Select Capital Fund, LP (a)(c)

            500,000

             500,000
TOTAL PRIVATE FUNDS (Cost $2,640,139)

             4,100,349






CLOSED-END FUNDS - 9.1%

Shares  

Value  
PIMCO Flexible Credit Income Fund - Institutional Class

            116,256

             801,007
Sprott Physical Gold Trust (a)

            60,000

             1,810,200
Victory Pioneer ILS Interval Fund

            117,583

             1,236,972
TOTAL CLOSED-END FUNDS (Cost $2,703,224)

             3,848,179






EXCHANGE TRADED FUNDS - 6.1%

Shares  

Value  
JPMorgan Nasdaq Equity Premium Income ETF

            7,200

             442,512
JPMorgan Ultra-Short Income ETF

            20,000

             1,011,400
Nuveen Preferred And Income ETF

            20,000

             522,978
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund

            6,000

             604,860
TOTAL EXCHANGE TRADED FUNDS (Cost $2,527,054)

             2,581,750






U.S. TREASURY SECURITIES - 5.8%
Par  

Value  
United States Treasury Note/Bond
4.38%, 08/15/2026

             500,000

             500,274
3.25%, 06/30/2029

             2,000,000

             1,949,453
TOTAL U.S. TREASURY SECURITIES (Cost $2,472,662)

             2,449,727






OPEN-END FUNDS - 4.7%

Shares  

Value  
Absolute Convertible Arbitrage Fund - Institutional Class

            88,041

             1,055,612
Baron Real Estate Fund - Institutional Class

            8,137

             349,818
Regan Total Return Income Fund - Institutional Class

            63,769

             607,077
TOTAL OPEN-END FUNDS (Cost $1,970,330)

             2,012,507






REAL ESTATE INVESTMENT TRUSTS - 2.0%

Shares  

Value  
Real Estate and Rental and Leasing - 2.0%

First Industrial Realty Trust, Inc.

            14,000

             858,340
TOTAL REAL ESTATE INVESTMENT TRUSTS (Cost $615,993)

             858,340






CORPORATE BONDS - 1.7%
Par  

Value  
Finance and Insurance - 0.9%
Bank of America Corp., 5.88% to 03/15/2028 then 3 mo. Term SOFR + 3.19%, Perpetual

             165,000

             166,556
Capital One NA, 4.65%, 09/13/2028

             225,000

             225,251


             391,807






Mining, Quarrying, and Oil and Gas Extraction - 0.4%
Freeport-McMoRan, Inc., 4.13%, 03/01/2028

             175,000

             173,410






Utilities - 0.4%
Cheniere Energy, Inc., 4.63%, 10/15/2028

             155,000

             154,674
TOTAL CORPORATE BONDS (Cost $720,139)

             719,891






SHORT-TERM INVESTMENTS
MONEY MARKET FUNDS - 3.7%
Shares  

Value  
MSILF Government Portfolio - Institutional Class, 3.56% (d)

            1,579,028

             1,579,028
TOTAL MONEY MARKET FUNDS (Cost $1,579,028)

             1,579,028






U.S. TREASURY BILLS - 2.3%
Par  

Value  
3.59%, 10/29/2026 (e)

             1,000,000

             987,467
TOTAL U.S. TREASURY BILLS (Cost $988,250)

             987,467






TOTAL INVESTMENTS - 100.2% (Cost $27,460,332)

             42,565,427


Liabilities in Excess of Other Assets - (0.2)%
(0.00206)
            (87,384)
TOTAL NET ASSETS - 100.0%




    $        42,478,043


Par amount is in USD unless otherwise indicated.

Percentages are stated as a percent of net assets.




SOFR - Secured Overnight Financing Rate



(a)

Non-income producing security.
(b)

Held in connection with written option contracts. See Schedule of Written Options for further information.
(c)

Fair value determined using significant unobservable inputs in accordance with procedures established by and under the supervision of the Adviser, acting as Valuation Designee. These securities represented $4,100,349 or 9.7% of net assets as of June 30, 2026.
(d)

The rate shown represents the 7-day annualized yield as of June 30, 2026.
(e)

The rate shown is the annualized yield as of June 30, 2026.





Concorde Wealth Management Fund
Schedule of Written Options
June 30, 2026 (Unaudited)

WRITTEN OPTIONS - (0.1)%
Notional Amount

Contracts

Value
Call Options - (0.1)% (a)(b)
AbbVie, Inc., Expiration: 07/02/2026; Exercise Price: $225.00
    $        (377,460)

(15)

    $        (39,180)
Bunge Global SA, Expiration: 07/17/2026; Exercise Price: $120.00
             (320,190)

(30)

             (810)
Chubb Ltd., Expiration: 07/17/2026; Exercise Price: $340.00
             (340,740)

(10)

             (6,840)
Cisco Systems, Inc., Expiration: 07/02/2026; Exercise Price: $123.00
             (293,650)

(25)

             (300)
Exxon Mobil Corp., Expiration: 07/02/2026; Exercise Price: $145.00
             (341,800)

(25)

             (75)
JPMorgan Chase & Co., Expiration: 07/02/2026; Exercise Price: $340.00
             (490,995)

(15)

             (90)
Microsoft Corp., Expiration: 07/17/2026; Exercise Price: $390.00
             (373,020)

(10)

             (4,850)
TJX Cos., Inc., Expiration: 07/02/2026; Exercise Price: $170.00
             (303,000)

(20)

             (100)
TOTAL WRITTEN OPTIONS (Premiums received $34,101)




    $        (52,245)

Percentages are stated as a percent of net assets.




(a)

100 shares per contract.
(b)

Exchange-traded.





















Summary of Fair Value Disclosure as of June 30, 2026 (Unaudited)

Concorde Wealth Management Fund has adopted fair value accounting standards which establish a definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or valuation methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund 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 relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and based on the best information available.
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of June 30, 2026:



Level 1

Level 2

Level 3

Total
Assets:







Investments:







  Common Stocks
    $        23,428,189

    $        –

    $        –

    $        23,428,189
  Private Funds
            –

            –

            4,100,349

            4,100,349
  Closed-End Funds
            3,848,179

            –

            –

            3,848,179
  Exchange Traded Funds
            2,581,750

            –

            –

            2,581,750
  U.S. Treasury Securities
            –

            2,449,727

            –

            2,449,727
  Open-End Funds
            2,012,507

            –

            –

            2,012,507
  Real Estate Investment Trusts
            858,340

            –

            –

            858,340
  Corporate Bonds
            –

            719,891

            –

            719,891
  Money Market Funds
            1,579,028

            –

            –

            1,579,028
  U.S. Treasury Bills
            –

            987,467

            –

            987,467
Total Investments
    $        34,307,993

    $        4,157,085

    $        4,100,349

    $        42,565,427








Liabilities:







Investments:







  Written Options
    $        (52,245)

    $        –

    $        –

    $        (52,245)
Total Investments
    $        (52,245)

    $        –

    $        –

    $        (52,245)





 

Refer to the Schedule of Investments for further disaggregation of investment categories.