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Manor Investment Funds Inc
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MANOR FUND
MNRMX
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">ADDITIONAL INFORMATION</span></b></span></p>
<p style="font: 9pt Century Gothic,sans-serif; margin: 0"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This <span id="xdx_90C_eoef--ShareholderReportAnnualOrSemiAnnual_c20260101__20260630_zdhQDoxjfF9l">semi-annual shareholder report</span> contains important
information about the <span id="xdx_900_eoef--ClassName_c20260101__20260630__oef--ClassAxis__custom--C000033144Member_zhQF433JLoCb">Manor Fund</span> - MNRMX (the “Fund”) for the period January 1, 2026 to June 30 2026, as well as certain changes
to the Fund.</p>
semi-annual shareholder report
Manor Fund
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You can find additional information about the Fund
at www.manorfunds.com. You can also request this information by contacting us at 1-800-787-3334.</p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>This report describes changes to the Fund that
occurred during the reporting period.</b></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">expense Information</span></b></span></p>
<p style="font: 5pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b>What were the Fund costs for the past six months?</b></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0">(based on a hypothetical $10,000 investment)</p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 55%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 9pt">Fund Name</span></td>
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 21%; padding-right: -7.5pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><b>Costs of a $10,000 investment</b></span></td>
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><b>Costs paid as a percentage of a $10,000 investment*</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 9pt">Manor Fund</span></td>
<td id="xdx_989_eoef--ExpensesPaidAmt_c20260101__20260630__oef--ClassAxis__custom--C000033144Member_zcWg9vE9DJJj" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$70</td>
<td id="xdx_98A_eoef--ExpenseRatioPct_c20260101__20260630__oef--ClassAxis__custom--C000033144Member_zne0O3ft8oce" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">1.25%</td></tr>
</table>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0">*Annualized</p>
70
0.0125
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">Fund statistics</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; width: 27%; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">PORTFOLIO</span></td>
<td style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">PORTFOLIO</span></td>
<td style="white-space: nowrap; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">ADVISORY FEES</span></td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">NET ASSETS:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">HOLDINGS:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">TURNOVER:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">PAID BY FUND:</span></span></td></tr>
<tr style="vertical-align: bottom">
<td id="xdx_98E_eus-gaap--AssetsNet_iI_c20260630__oef--ClassAxis__custom--C000033144Member_zLRmOKxnPK3d" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$12,203,606</td>
<td id="xdx_98B_eoef--HoldingsCount_iI_uHoldings_c20260630__oef--ClassAxis__custom--C000033144Member_zWGUzAL847ee" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">30</td>
<td id="xdx_980_eus-gaap--InvestmentCompanyPortfolioTurnover_c20260101__20260630__oef--ClassAxis__custom--C000033144Member_zDubL1g7RBu9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.00%</td>
<td id="xdx_98E_eoef--AdvisoryFeesPaidAmt_c20260101__20260630__oef--ClassAxis__custom--C000033144Member_zexehtfZHD5c" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$42,373</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
12203606
30
0.0000
42373
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">PORTFOLIO ILLUSTRATION</span></b></span></p>
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following chart gives a visual breakdown of the
Fund by the industry sectors the underlying securities represent as a percentage of the portfolio of investments. Below Sectors are categorized
using Morningstar® classifications.</p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Century Gothic,sans-serif; font-size: 4pt"><img alt="" src="image_001.gif" style="height: 280px; width: 459px"/></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; display: none; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; width: 76%; padding-right: 5.4pt; padding-left: 5.4pt">Communication Services</td>
<td id="xdx_987_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__custom--CommunicationServicesMember_ziFw8wWOZQ9" style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">8.49%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Consumer Cyclical</td>
<td id="xdx_987_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__custom--ConsumerCyclicalMember_z4QFKeLMiky9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10.54%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Consumer Defensive</td>
<td id="xdx_98B_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__custom--ConsumerDefensiveMember_ztgv2lOvVWLk" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.33%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Energy</td>
<td id="xdx_987_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__us-gaap--EnergySectorMember_zZTfgKZwe2A8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">6.27%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Financial Services</td>
<td id="xdx_984_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__us-gaap--FinancialServicesSectorMember_zbhunvK1kjX1" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10.69%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Healthcare</td>
<td id="xdx_987_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__us-gaap--HealthcareSectorMember_zEuyS20atxD2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.46%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Industrials</td>
<td id="xdx_982_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__oef--IndustrialSectorMember_zqdU2IWlJ6ie" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">16.41%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Money Market Fund</td>
<td id="xdx_988_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__us-gaap--MoneyMarketFundsMember_zl9m6HPVT92k" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.58%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Real Estate Investment Trust</td>
<td id="xdx_986_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__custom--RealEstateInvestmentTrustMember_zVAF6Yick6Pj" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">2.58%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Technology</td>
<td id="xdx_98B_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--IndustrySectorAxis__us-gaap--TechnologySectorMember_zWQc7p9wYJl9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">34.65%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
0.0849
0.1054
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0.1069
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0.1641
0.0058
0.0258
0.3465
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">top ten holdings
(% of net assets)</span></b></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">1.</td>
<td style="white-space: nowrap; width: 63%; padding-right: 5.4pt; padding-left: 5.4pt">Applied Materials, Inc.</td>
<td id="xdx_98A_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--AppliedMaterialsIncMember_zktl8aKhxyDe" style="white-space: nowrap; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">17.45%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">2.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Vertiv Holdings Co</td>
<td id="xdx_98E_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--VertivHoldingsCoMember_zgpGK0I2rJXe" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">9.25%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">3.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Cummins, Inc.</td>
<td id="xdx_98D_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--CumminsIncMember_zY1mKx5eezu" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.35%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">4.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">AppLovin Corp.</td>
<td id="xdx_985_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--AppLovinCorpMember_zfc8oRrd8KK4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.50%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">5.</td>
<td style="white-space: nowrap; padding-right: -6.25pt; padding-left: 5.4pt">Valero Energy Corp.</td>
<td id="xdx_989_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--ValeroEnergyCorpMember_zqybBsTifHCi" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.38%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">6.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Palo Alto Networks, Inc.</td>
<td id="xdx_98B_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--PaloAltoNetworksIncMember_z5JziEMLVJ2e" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">4.24%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">7.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Alphabet, Inc. Class A</td>
<td id="xdx_98E_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--AlphabetIncClassAMember_zGwXD07bngnl" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.90%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">8.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">JP Morgan Chase & Co.</td>
<td id="xdx_982_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--JpMorganChaseCoMember_z0ns5zvCbr23" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.69%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">9.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Microsoft Corp.</td>
<td id="xdx_984_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--MicrosoftCorpMember_zwjbJtKJmts4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.32%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">10.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">NVIDIA Corp.</td>
<td id="xdx_982_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member__oef--LargestHoldingAxis__custom--NvidiaCorpMember_zqu2VbUj3ccd" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.19%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Total % of Net Assets</td>
<td id="xdx_984_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033144Member_zAcTSwEDxqLg" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">59.27%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
0.1745
0.0925
0.0535
0.0450
0.0438
0.0424
0.0390
0.0369
0.0332
0.0319
0.5927
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">Material Fund Changes</span></b></span></p>
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective May 12, 2026, the Board appointed Bob Anastasi as Treasurer,
Secretary and Chief Compliance Officer of the Trust and approved Hanover Fund Administration, LLC (“Hanover”) to provide administrator
and compliance services to the Trust.</p>
www.manorfunds.com
1-800-787-3334
MANOR GROWTH FUND
MNRGX
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">ADDITIONAL INFORMATION</span></b></span></p>
<p style="font: 9pt Century Gothic,sans-serif; margin: 0"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This <span id="xdx_90B_eoef--ShareholderReportAnnualOrSemiAnnual_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_zDerkawVqKt2">semi-annual shareholder report</span> contains important
information about the <span id="xdx_904_eoef--ClassName_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_zurD4WQfamG">Manor Growth Fund</span> - MNRGX (the “Fund”) for the period January 1, 2026 to June 30 2026, as well as certain
changes to the Fund.</p>
semi-annual shareholder report
Manor Growth Fund
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You can find additional information about the Fund
at <span id="xdx_90B_eoef--AddlInfoWebsite_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_zV683Ilk7Na7">www.manorfunds.com</span>. You can also request this information by contacting us at <span id="xdx_903_eoef--AddlInfoPhoneNumber_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_zg4QDhuLxc4i">1-800-787-3334</span>.</p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>This report describes changes to the Fund that
occurred during the reporting period.</b></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
www.manorfunds.com
1-800-787-3334
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">expense Information</span></b></span></p>
<p style="font: 5pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b>What were the Fund costs for the past six months?</b></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0">(based on a hypothetical $10,000 investment)</p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 55%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 9pt">Fund Name</span></td>
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 21%; padding-right: -7.5pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><b>Costs of a $10,000 investment</b></span></td>
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><b>Costs paid as a percentage of a $10,000 investment*</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"> </span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"> </span></td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 9pt">Manor Growth Fund</span></td>
<td id="xdx_98D_eoef--ExpensesPaidAmt_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_zNhAfI94d2md" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$52</td>
<td id="xdx_98A_eoef--ExpenseRatioPct_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_zEu9ArjQLLq" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.99%</td></tr>
</table>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0">*Annualized</p>
52
0.0099
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">Fund statistics</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; width: 27%; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">PORTFOLIO</span></td>
<td style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">PORTFOLIO</span></td>
<td style="white-space: nowrap; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">ADVISORY FEES</span></td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">NET ASSETS:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">HOLDINGS:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">TURNOVER:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">PAID BY FUND:</span></span></td></tr>
<tr style="vertical-align: bottom">
<td id="xdx_985_eus-gaap--AssetsNet_iI_c20260630__oef--ClassAxis__custom--C000033145Member_ztyQ4uBoDuQ3" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$17,943,523</td>
<td id="xdx_98D_eoef--HoldingsCount_iI_uHoldings_c20260630__oef--ClassAxis__custom--C000033145Member_zgI5Pz5pSFH" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">25</td>
<td id="xdx_98F_eus-gaap--InvestmentCompanyPortfolioTurnover_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_zbO8n66thU9i" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">2.14%</td>
<td id="xdx_984_eoef--AdvisoryFeesPaidAmt_c20260101__20260630__oef--ClassAxis__custom--C000033145Member_ztcPfncH8Zcl" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$65,036</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
17943523
25
0.0214
65036
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">PORTFOLIO ILLUSTRATION</span></b></span></p>
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following chart gives a visual breakdown of the
Fund by the industry sectors the underlying securities represent as a percentage of the portfolio of investments. Below Sectors are categorized
using Morningstar® classifications.</p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Century Gothic,sans-serif; font-size: 9pt"><img alt="" src="image_002.gif" style="height: 296px; width: 453px"/></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; display: none; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; width: 76%; padding-right: 5.4pt; padding-left: 5.4pt">Basic Materials</td>
<td id="xdx_98B_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__custom--BasicMaterialsMember_zeKMJSRbsKRg" style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.91%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Communication Services</td>
<td id="xdx_981_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__custom--CommunicationServicesMember_zo3WR9hQuUtb" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">15.97%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Consumer Cyclical</td>
<td id="xdx_980_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__custom--ConsumerCyclicalMember_zb9RUrfXx99f" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">8.17%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Consumer Defensive</td>
<td id="xdx_983_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__custom--ConsumerDefensiveMember_z9sEcCzSCil8" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">1.26%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Financial Services</td>
<td id="xdx_988_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__us-gaap--FinancialServicesSectorMember_zNvDyzMyUNNd" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.74%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Healthcare</td>
<td id="xdx_980_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__us-gaap--HealthcareSectorMember_zFMkLwGSqnR2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">13.54%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Industrials</td>
<td id="xdx_98E_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__oef--IndustrialSectorMember_ztL92JD2VvTb" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">17.77%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Money Market Fund</td>
<td id="xdx_98A_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__us-gaap--MoneyMarketFundsMember_zzz3sULBAukf" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">0.41%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Technology</td>
<td id="xdx_98F_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--IndustrySectorAxis__us-gaap--TechnologySectorMember_zkAb0XCkP20l" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">33.23%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
0.0191
0.1597
0.0817
0.0126
0.0774
0.1354
0.1777
0.0041
0.3323
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">top ten holdings
(% of net assets)</span></b></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="width: 14%; padding-right: 5.4pt; padding-left: 5.4pt">1.</td>
<td style="white-space: nowrap; width: 67%; padding-right: 5.4pt; padding-left: 5.4pt">Apple, Inc.</td>
<td id="xdx_98E_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--AppleIncMember_zgLgqfAMiXR9" style="white-space: nowrap; width: 19%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">11.60%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">2.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Vertiv Holdings Co.</td>
<td id="xdx_98E_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--VertivHoldingsCoMember_zrKtyIHR7b4a" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">10.52%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">3.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">United Rentals, Inc.</td>
<td id="xdx_980_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--UnitedRentalsIncMember_zXLXuSYIXS8h" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.26%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">4.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Eli Lilly & Co.</td>
<td id="xdx_980_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--EliLilyCoMember_zOTHfLSIkeek" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">6.72%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">5.</td>
<td style="white-space: nowrap; padding-right: -6.25pt; padding-left: 5.4pt">Alphabet, Inc. Class C</td>
<td id="xdx_986_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--AlphabetIncClassCMember_zCEMLrvL27A2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.24%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">6.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Alphabet, Inc. Class A</td>
<td id="xdx_985_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--AlphabetIncClassAMember_znp1f2TSyWGf" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.23%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">7.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Palo Alto Networks, Inc.</td>
<td id="xdx_98F_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--PaloAltoNetworksIncMember_zCUz1P35LiLe" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.22%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">8.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Amazon.com, Inc.</td>
<td id="xdx_98A_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--AmazoncomIncMember_zuwWIKpEkg6l" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.11%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">9.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">AppLovin Corp.</td>
<td id="xdx_986_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--AppLovinCorpMember_znADYuLMqVBf" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.02%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">10.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">NVIDIA Corp.</td>
<td id="xdx_986_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member__oef--LargestHoldingAxis__custom--NvidiaCorpMember_zBKIh5vwhIwg" style="border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.76%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Total % of Net Assets</td>
<td id="xdx_987_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033145Member_zgCzpoX71ENj" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">65.68%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
0.1160
0.1052
0.0726
0.0672
0.0524
0.0523
0.0522
0.0511
0.0502
0.0376
0.6568
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">Material Fund Changes</span></b></span></p>
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">Effective May 12, 2026, the Board appointed Bob Anastasi as Treasurer,
Secretary and Chief Compliance Officer of the Trust and approved Hanover Fund Administration, LLC (“Hanover”) to provide administrator
and compliance services to the Trust.</p>
www.manorfunds.com
1-800-787-3334
MANOR BOND FUND
MNRBX
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">ADDITIONAL INFORMATION</span></b></span></p>
<p style="font: 9pt Century Gothic,sans-serif; margin: 0"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">This <span id="xdx_908_eoef--ShareholderReportAnnualOrSemiAnnual_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_zQ5efIc0kjBl">semi-annual shareholder report</span> contains important
information about the <span id="xdx_902_eoef--ClassName_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_z06H0cq3gmWb">Manor Bond Fund</span> - MNRBX (the “Fund”) for the period January 1, 2026 to June 30, 2026, as well as certain
changes to the Fund.</p>
semi-annual shareholder report
Manor Bond Fund
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">You can find additional information about the Fund
at <span id="xdx_90D_eoef--AddlInfoWebsite_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_zDiGkk5KrPOl">www.manorfunds.com</span>. You can also request this information by contacting us at <span id="xdx_90C_eoef--AddlInfoPhoneNumber_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_zqxFed7uPsB1">1-800-787-3334</span>.</p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><b>This report describes changes to the Fund that
occurred during the reporting period.</b></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
www.manorfunds.com
1-800-787-3334
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">expense Information</span></b></span></p>
<p style="font: 9pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0"><b>What were the Fund costs for the past six months?</b></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0">(based on a hypothetical $10,000 investment)</p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 55%; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 9pt">Fund Name</span></td>
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 21%; padding-right: -7.5pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><b>Costs of a $10,000 investment</b></span></td>
<td style="border-bottom: Black 1pt solid; white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><b>Costs paid as a percentage of a $10,000 investment*</b></span></td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"> </td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt"><span style="font-size: 9pt">Manor Bond Fund</span></td>
<td id="xdx_989_eoef--ExpensesPaidAmt_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_z8eHpQqtj5M5" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$48</td>
<td id="xdx_986_eoef--ExpenseRatioPct_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_z1TIxEFaxtoj" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">0.95%</td></tr>
</table>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0"> </p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0">*Annualized</p>
48
0.0095
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">Fund statistics</span></b></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; width: 27%; padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; width: 23%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">PORTFOLIO</span></td>
<td style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">PORTFOLIO</span></td>
<td style="white-space: nowrap; width: 26%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt">ADVISORY FEES</span></td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">NET ASSETS:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">HOLDINGS:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">TURNOVER:</span></span></td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center"><span style="font-size: 9pt"><span style="text-decoration: underline">PAID BY FUND:</span></span></td></tr>
<tr style="vertical-align: bottom">
<td id="xdx_982_eus-gaap--AssetsNet_iI_c20260630__oef--ClassAxis__custom--C000033146Member_zTbJEHYvMkS7" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$2,639,184</td>
<td id="xdx_980_eoef--HoldingsCount_iI_uHoldings_c20260630__oef--ClassAxis__custom--C000033146Member_zTfK0Krmw4X2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">8</td>
<td id="xdx_98D_eus-gaap--InvestmentCompanyPortfolioTurnover_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_zjZZjirBofk4" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">16.72%</td>
<td id="xdx_987_eoef--AdvisoryFeesPaidAmt_c20260101__20260630__oef--ClassAxis__custom--C000033146Member_zlSFg0aVOoWe" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: center">$6,585</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
2639184
8
0.1672
6585
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">PORTFOLIO ILLUSTRATION</span></b></span></p>
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify">The following chart gives a visual breakdown of the
Fund by the industry sectors the underlying securities represent as a percentage of the portfolio of investments. Below Sectors are categorized
based on asset type.</p>
<p style="font: 9pt Times New Roman, Times, Serif; margin: 0; text-align: justify"> </p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0"><span style="font-family: Century Gothic,sans-serif; font-size: 1pt"><img alt="" src="image_003.gif" style="height: 278px; width: 452px"/></span></p>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
<table cellpadding="0" cellspacing="0" style="font: 12pt Times New Roman, Times, Serif; display: none; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; width: 76%; padding-right: 5.4pt; padding-left: 5.4pt">Money Market Fund</td>
<td id="xdx_989_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--IndustrySectorAxis__us-gaap--MoneyMarketFundsMember_zyvNmaqIcZTl" style="white-space: nowrap; width: 24%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.25%</td></tr>
<tr style="vertical-align: bottom">
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">US Treasury Notes</td>
<td id="xdx_98B_eoef--PctOfTotalInv_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--IndustrySectorAxis__us-gaap--USTreasuryNotesSecuritiesMember_zAzC1iruFc7j" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">96.75%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
0.0325
0.9675
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">top holdings
(% OF NET ASSETS)</span></b></span></p>
<table cellpadding="0" cellspacing="0" style="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<tr style="vertical-align: bottom">
<td style="width: 7%; padding-right: 5.4pt; padding-left: 5.4pt">1.</td>
<td style="white-space: nowrap; width: 81%; padding-right: 5.4pt; padding-left: 5.4pt">US Treasury Note, 4.25%, Due 11/15/2034</td>
<td id="xdx_986_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--USTreasNote2034Nov15Member_zWeu0U0aeNB3" style="white-space: nowrap; width: 12%; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">28.18%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">2.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">US Treasury Note, 4.125%, due 11/15/2032</td>
<td id="xdx_983_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--USTreasNote2032Nov15Member_zQB3inT6vtrh" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">24.44%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">3.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">US Treasury Note, Series C, 0.625% Due 05/15/2030</td>
<td id="xdx_980_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--USTreasNote2030May15Member_zv1hgU5Ubpk7" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">11.43%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">4.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">US Treasury Note, 1.75%, Due 11/15/2029</td>
<td id="xdx_98F_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--USTreasNote2029Nov15Member_zfbId3GbM1i9" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">11.39%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">5.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">US Treasury Note, 4.125%, Due 09/30/2027</td>
<td id="xdx_987_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--USTreasNote2027Sept30Member_z8Bti2uZLwA2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.58%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">6.</td>
<td style="white-space: nowrap; padding-right: -6.25pt; padding-left: 5.4pt">US Treasury Note, 3.875%, Due 07/15/2028</td>
<td id="xdx_98D_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--USTreasNote2028Jul15Member_zFo4ZhVaHSZj" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">7.54%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">7.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">US Treasury Note, 1.50%, Due 08/15/2026</td>
<td id="xdx_98E_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--USTreasNote2026Aug15Member_zF0hPNH9YKpk" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">5.67%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt">8.</td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Goldman Sachs Financial Square Treasury Instruments Fund</td>
<td id="xdx_98A_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member__oef--LargestHoldingAxis__custom--GoldmanSachsFinSquareTreasMember_zUMWsXrvTBo2" style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">3.23%</td></tr>
<tr style="vertical-align: bottom">
<td style="padding-right: 5.4pt; padding-left: 5.4pt"> </td>
<td style="white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt">Total % of Net Assets</td>
<td id="xdx_986_eoef--PctOfNav_iI_c20260630__oef--ClassAxis__custom--C000033146Member_zWeojOuUsdGj" style="border-top: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; padding-left: 5.4pt; text-align: right">99.46%</td></tr>
</table>
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0"> </p>
0.2818
0.2444
0.1143
0.1139
0.0758
0.0754
0.0567
0.0323
0.9946
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b><span style="text-decoration: underline">Material Fund Changes</span></b></span></p>
<p style="font: 10pt Century Gothic,sans-serif; margin: 0; color: #548AB7"><span style="text-transform: uppercase"><b> </b></span></p>
<p style="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: justify"><span style="font-size: 9pt">Effective May 12, 2026,
the Board appointed Bob Anastasi as Treasurer, Secretary and Chief Compliance Officer of the Trust and approved Hanover Fund Administration,
LLC (“Hanover”) to provide administrator and compliance services to the Trust.</span></p>
www.manorfunds.com
1-800-787-3334