N-Q 1 nq108.txt SCHEDULE OF INVESTMENTS FOR 3-31-2008 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington DC 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT COMPANY Investment Company Act file number: 811-08763 Name of registrant: MH Elite Portfolio of Funds, Inc. Address: 220 Russell Avenue Rahway, NJ 07065 Agent for service: MH Elite Portfolio of Funds, Inc. 220 Russell Avenue Rahay, NJ 07065 Registrant's telephone number, including area code: 1-800-318-7969 Date of fiscal year end: December 31 Date of reporting period: March 31, 2008 Item 1: Schedule of Investments MH Elite Portfolio of Funds, Inc. MH Elite Small Cap Fund of Funds Schedule of Portfolio of Investments March 31, 2008 Mutual Funds Quantity Value Keeley Small Cap Value 15,798 $ 415,799 Schroder US Opportunities Inv 18,753 376,377 Royce Value Plus Service 29,989 373,959 Bridgeway Small Cap Value N 23,695 366,080 Pacific Advisors Small Cap A 10,752 343,948 Schneider Small Cap Value Fund 20,643 337,927 Stratton Small Cap Value 6,119 269,179 Paradigm Value 5,919 261,158 Royce Opportunity Inv 20,921 209,003 Perritt Micro Cap Opportunities 7,263 170,975 Loomis Sayles Small Cap Growth R 13,012 169,161 Wasatch Advisors Micro Cap 35,215 165,160 Oppenheimer International Small Co. A 749 16,759 ----------- Total Mutual Funds 3,475,485 ----------- Exchange Traded Funds Vanguard Index Trust 4,400 271,260 ----------- Total Exchange Traded Funds 271,260 Short-Term Securities TD Ameritrade Money Market 29,144 ----------- Total Investments in Securities 3,775,889 Other assets 136,380 ----------- Net Assets $ 3,912,269 ========== ------------------------------------------------------------------------------- MH Elite Portfolio of Funds, Inc. MH Elite Fund of Funds Schedule of Portfolio of Investments March 31, 2008 Mutual Funds Quantity Value Janus Contrarian 24,505 $ 441,584 Primecap Odyssey Aggressive Growth 29,733 394,560 Columbia Value and Restructuring 7,324 382,477 Marisco 21st Century 25,307 379,104 Fairholme 11,861 364,498 Mainstay ICAP Select Equity I 9,852 350,523 Schneider Value 17,978 343,205 American Funds Growth Fund of America F 8,792 340,588 Brandywine Blue 10,384 321,706 Dodge & Cox Stock 2,738 320,608 Hartford Capital Appreciation A 8,427 301,771 Fidelity Leveraged 9,736 287,007 Cambiar Opportunity Inv 16,395 286,746 Rainier Mid Cap Equity 7,269 286,621 Homestead Value 8,633 271,522 Amana Trust Growth 12,742 271,398 Artisan Mid Cap Value 14,272 250,611 FMI Large Cap 16,160 233,032 Amana Trust Income 6,456 191,866 ----------- Total Mutual Funds 6,019,427 ----------- Short-Term Securities TD Ameritrade Money Market 160,654 ----------- Total Investments in Securities 6,180,081 Other assets 44,619 ----------- Net Assets $ 6,224,700 =========== ------------------------------------------------------------------------------- MH Elite Portfolio of Funds, Inc. MH Elite Select Portfolio of Funds Schedule of Portfolio of Investments March 31, 2008 Mutual Funds and Exchange Traded Funds Quantity Value Ivy Asset Strategy Y 8,720 $ 236,216 Diamond Hill Long-Short I 10,965 201,535 TFS Market Neutral 14,001 199,791 Leuthold Asset Allocation 17,983 198,714 T. Rowe Price Latin America 3,848 196,911 Permanent Portfolio 4,841 181,133 Bruce 494 163,733 US Global Investors Global Resources 8,249 136,431 Metzler/Payden European Emerging Markets 3,974 135,847 US Global Investors World Precious Minerals 4,872 129,410 Driehaus Emerging Markets Growth 3,275 124,336 Wintergreen 8,811 120,176 Blackrock Health Sciences 4,142 113,172 Quant Foreign Value 5,473 108,746 Julius Baer International Equity II 6,592 102,637 Kinetics New Paradigm 3,888 100,855 Harbor International 1,461 96,129 Janus Overseas 1,929 95,448 Cullen International High Dividend Retail 7,262 94,626 T. Rowe Price Health Sciences 3,771 94,382 MFS Utilities A 5,230 91,370 Fidelity Southeast Asia 2,731 88,394 Ralph Parks Cyclical Equity 9,524 88,000 CGM Realty 2,502 74,734 CGM Focus 1,429 69,142 Alpine International Real Estate Equity 1,929 65,702 Guinness Atkinson Alternation Energy 3,056 41,473 ----------- Total Mutual Funds 3,349,043 ----------- Short-Term Securities TD Ameritrade Money Market 313,334 ----------- Total Investments in Securities 3,662,377 Other assets 42,805 ----------- Net Assets $ 3,705,182 =========== ------------------------------------------------------------------------------- Item 2: Controls and Procedures. (a) Disclosure Controls and Procedures. The Principal Executive and Financial Officers concluded that the Registrant's Disclosure Controls and Procedures are effective based on their evaluation of the Disclosure Controls and Procedures as of a date within 90 days of the filing date of this report. (b) Internal Control Over Financial Reporting. During the last fiscal quarter, there was no significant change in the Registrant's internal control over financial reporting that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting. Item 3: SIGNATURES Pursuant to the requirements of the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) MH Elite Portfolio of Funds, Inc. By (Signature and Title) /s/ Jeff Holcombe Jeff Holcombe Vice President Date: May 27, 2008