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    <seriesLevelInfo>
      <securitiesActFileNumber>033-00499</securitiesActFileNumber>
      <adviser>
        <adviserName>Shelton Capital Management</adviserName>
        <adviserFileNumber>801-25205</adviserFileNumber>
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      <indpPubAccountant>
        <name>Tait Weller and Baker</name>
        <city>Philadelphia</city>
        <stateCountry>PA</stateCountry>
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      <administrator>
        <administratorName>Shelton Capital Management</administratorName>
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      <moneyMarketFundCategory>Treasury</moneyMarketFundCategory>
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      <averageLifeMaturity>54</averageLifeMaturity>
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      <sevenDayNetYield>0.0175</sevenDayNetYield>
      <personPayForFundFlag>Y</personPayForFundFlag>
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    </classLevelInfo>
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      </totalForTheMonthReported>
      <sevenDayNetYield>0.0125</sevenDayNetYield>
      <personPayForFundFlag>Y</personPayForFundFlag>
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    </classLevelInfo>
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      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
      <CUSIPMember>912796QR3</CUSIPMember>
      <investmentCategory>U.S. Treasury Debt</investmentCategory>
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      <investmentMaturityDateWAL>2019-07-18</investmentMaturityDateWAL>
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    <scheduleOfPortfolioSecuritiesInfo>
      <nameOfIssuer>Treasury Bill</nameOfIssuer>
      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
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      <investmentMaturityDateWAL>2019-08-15</investmentMaturityDateWAL>
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    <scheduleOfPortfolioSecuritiesInfo>
      <nameOfIssuer>Treasury Bill</nameOfIssuer>
      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
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        <rating>N/A</rating>
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      <investmentMaturityDateWAL>2019-11-07</investmentMaturityDateWAL>
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      <nameOfIssuer>Treasury Bill</nameOfIssuer>
      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
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        <nameOfNRSRO>N/A</nameOfNRSRO>
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      <investmentMaturityDateWAL>2019-07-11</investmentMaturityDateWAL>
      <finalLegalInvestmentMaturityDate>2019-07-11</finalLegalInvestmentMaturityDate>
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      <nameOfIssuer>Treasury Bill</nameOfIssuer>
      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
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      <investmentCategory>U.S. Treasury Debt</investmentCategory>
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        <nameOfNRSRO>N/A</nameOfNRSRO>
        <rating>N/A</rating>
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      <investmentMaturityDateWAL>2019-08-08</investmentMaturityDateWAL>
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      <dailyLiquidAssetSecurityFlag>Y</dailyLiquidAssetSecurityFlag>
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      <nameOfIssuer>Treasury Bill</nameOfIssuer>
      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
      <CUSIPMember>912796SE0</CUSIPMember>
      <investmentCategory>U.S. Treasury Debt</investmentCategory>
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        <nameOfNRSRO>N/A</nameOfNRSRO>
        <rating>N/A</rating>
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      <investmentMaturityDateWAM>2019-08-22</investmentMaturityDateWAM>
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      <finalLegalInvestmentMaturityDate>2019-08-22</finalLegalInvestmentMaturityDate>
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    <scheduleOfPortfolioSecuritiesInfo>
      <nameOfIssuer>Treasury Bill</nameOfIssuer>
      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
      <CUSIPMember>912796SG5</CUSIPMember>
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        <nameOfNRSRO>N/A</nameOfNRSRO>
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      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
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        <nameOfNRSRO>N/A</nameOfNRSRO>
        <rating>N/A</rating>
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      <investmentMaturityDateWAM>2019-09-26</investmentMaturityDateWAM>
      <investmentMaturityDateWAL>2019-09-26</investmentMaturityDateWAL>
      <finalLegalInvestmentMaturityDate>2019-09-26</finalLegalInvestmentMaturityDate>
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      <illiquidSecurityFlag>N</illiquidSecurityFlag>
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    <scheduleOfPortfolioSecuritiesInfo>
      <nameOfIssuer>Treasury Bill</nameOfIssuer>
      <titleOfIssuer>US TREASURY BILL</titleOfIssuer>
      <CUSIPMember>912796SL4</CUSIPMember>
      <investmentCategory>U.S. Treasury Debt</investmentCategory>
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        <nameOfNRSRO>N/A</nameOfNRSRO>
        <rating>N/A</rating>
      </NRSRO>
      <investmentMaturityDateWAM>2019-10-03</investmentMaturityDateWAM>
      <investmentMaturityDateWAL>2019-10-03</investmentMaturityDateWAL>
      <finalLegalInvestmentMaturityDate>2019-10-03</finalLegalInvestmentMaturityDate>
      <securityDemandFeatureFlag>N</securityDemandFeatureFlag>
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      <securityEnhancementsFlag>N</securityEnhancementsFlag>
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      <percentageOfMoneyMarketFundNetAssets>0.0668</percentageOfMoneyMarketFundNetAssets>
      <securityCategorizedAtLevel3Flag>N</securityCategorizedAtLevel3Flag>
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      <weeklyLiquidAssetSecurityFlag>Y</weeklyLiquidAssetSecurityFlag>
      <illiquidSecurityFlag>N</illiquidSecurityFlag>
    </scheduleOfPortfolioSecuritiesInfo>
    <signature>
      <registrant>Shelton Funds</registrant>
      <signatureDate>2019-07-08</signatureDate>
      <signature>/s/ Gregory T. Pusch</signature>
      <nameOfSigningOfficer>Chief Compliance Officer</nameOfSigningOfficer>
      <titleOfSigningOfficer>Gregory T. Pusch</titleOfSigningOfficer>
    </signature>
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