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		<isConfidential>false</isConfidential>
		<filerInfo>

			<filer>
				<issuerCredentials>
					<cik>0000778206</cik>
					<ccc>XXXXXXXX</ccc>
				</issuerCredentials>
			</filer>

			<seriesClassInfo>
				<seriesId>S000016028</seriesId>
				<classId>C000044041</classId>
				<classId>C000044042</classId>
			</seriesClassInfo>


		</filerInfo>
	</headerData>
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		<genInfo>
			<regName>SHELTON FUNDS</regName>
			<regFileNumber>811-04417</regFileNumber>
			<regCik>0000778206</regCik>
			<regLei>254900S73SCF59AAL583</regLei>
			<regStreet1>1875 Lawrence Street, Suite 300</regStreet1>
			<regCity>Denver</regCity>
			<regStateConditional regCountry="US" regState="US-CO"/>
			<regZipOrPostalCode>80202-1805</regZipOrPostalCode>
			<regPhone>800-955-9888</regPhone>
			<seriesName>U.S. Government Securities Fund</seriesName>
			<seriesId>S000016028</seriesId>
			<seriesLei>254900CM11M6XXS66Y88</seriesLei>
			<repPdEnd>2020-08-31</repPdEnd>
			<repPdDate>2020-02-29</repPdDate>
			<isFinalFiling>N</isFinalFiling>
		</genInfo>
		<fundInfo>
			<totAssets>22403736.01</totAssets>
			<totLiabs>52978.91</totLiabs>
			<netAssets>22350757.1</netAssets>
			<assetsAttrMiscSec>0</assetsAttrMiscSec>
			<assetsInvested>0</assetsInvested>
			<amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
			<amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
			<amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
			<amtPayOneYrOther>0</amtPayOneYrOther>
			<amtPayAftOneYrBanksBorr>0</amtPayAftOneYrBanksBorr>
			<amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
			<amtPayAftOneYrOthAffil>0</amtPayAftOneYrOthAffil>
			<amtPayAftOneYrOther>0</amtPayAftOneYrOther>
			<delayDeliv>0</delayDeliv>
			<standByCommit>0</standByCommit>
			<liquidPref>0</liquidPref>
			<cshNotRptdInCorD>159932.11</cshNotRptdInCorD>
			<curMetrics>
				<curMetric>
					<curCd>USD</curCd>
					<intrstRtRiskdv01 period10Yr="3178.17" period1Yr="1310.32" period30Yr="1820.71" period3Mon="57.06" period5Yr="4107.3"/>
					<intrstRtRiskdv100 period10Yr="321530.88" period1Yr="131117.47" period30Yr="188032.69" period3Mon="5744.65" period5Yr="411313.18"/>
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			</curMetrics>
			<creditSprdRiskInvstGrade period10Yr="27.76" period1Yr="66.65" period30Yr="0" period3Mon="0.02" period5Yr="229.88"/>
			<creditSprdRiskNonInvstGrade period10Yr="0" period1Yr="0" period30Yr="0" period3Mon="0" period5Yr="0"/>
			<isNonCashCollateral>N</isNonCashCollateral>
			<returnInfo>
				<monthlyTotReturns>
					<monthlyTotReturn classId="C000044041" rtn1="1.91" rtn2="1.47" rtn3="-0.28"/>
					<monthlyTotReturn classId="C000044042" rtn1="1.86" rtn2="1.52" rtn3="-0.32"/>
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				<monthlyReturnCats/>
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				<othMon2 netRealizedGain="-97.1" netUnrealizedAppr="337579.52"/>
				<othMon3 netRealizedGain="-210.69" netUnrealizedAppr="-79922.1"/>
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			<mon1Flow redemption="2410218.98" reinvestment="28282.51" sales="585143.14"/>
			<mon2Flow redemption="457099.52" reinvestment="21566.91" sales="406339.79"/>
			<mon3Flow redemption="426128.44" reinvestment="20327.4" sales="4902351.14"/>
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		<invstOrSecs>
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				<name>GNMA PASS-THRU M SINGLE FAMILY</name>
				<lei>549300M8ZYFG0OCMTT87</lei>
				<title>G2 MA2371</title>
				<cusip>36179QT43</cusip>
				<identifiers>
					<isin value="US36179QT436"/>
					<ticker value="G2"/>
				</identifiers>
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				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>326616.6</valUSD>
				<pctVal>1.4613223102</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>ABS-MBS</assetCat>
				<issuerCat>USGA</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
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					<isDefault>N</isDefault>
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					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Government National Mortgage Association</name>
				<lei>549300M8ZYFG0OCMTT87</lei>
				<title>GN 616829</title>
				<cusip>36290THE2</cusip>
				<identifiers>
					<isin value="US36290THE29"/>
					<ticker value="GNR"/>
				</identifiers>
				<balance>28879.37</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>31309.74</valUSD>
				<pctVal>0.1400835769</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>ABS-MBS</assetCat>
				<issuerCat>USGA</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<debtSec>
					<maturityDt>2025-01-15</maturityDt>
					<couponKind>Floating</couponKind>
					<annualizedRt>5.5</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Government National Mortgage Association</name>
				<lei>549300M8ZYFG0OCMTT87</lei>
				<title>GN 617057</title>
				<cusip>36290TQJ1</cusip>
				<identifiers>
					<isin value="US36290TQJ15"/>
					<ticker value="GNR"/>
				</identifiers>
				<balance>112364.45</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>127900.05</valUSD>
				<pctVal>0.5722403471</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>ABS-MBS</assetCat>
				<issuerCat>USGA</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<debtSec>
					<maturityDt>2036-04-15</maturityDt>
					<couponKind>Floating</couponKind>
					<annualizedRt>5.5</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Government National Mortgage Association</name>
				<lei>549300M8ZYFG0OCMTT87</lei>
				<title>GN 642536</title>
				<cusip>36291YY92</cusip>
				<identifiers>
					<isin value="US36291YY920"/>
					<ticker value="GNR"/>
				</identifiers>
				<balance>1885.24</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>1893.3</valUSD>
				<pctVal>0.008470854</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>ABS-MBS</assetCat>
				<issuerCat>USGA</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<debtSec>
					<maturityDt>2020-07-15</maturityDt>
					<couponKind>Floating</couponKind>
					<annualizedRt>5</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Government National Mortgage Association</name>
				<lei>549300M8ZYFG0OCMTT87</lei>
				<title>GN 651036</title>
				<cusip>36292KHM1</cusip>
				<identifiers>
					<isin value="US36292KHM18"/>
					<ticker value="GNR"/>
				</identifiers>
				<balance>81442.59</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>90843.05</valUSD>
				<pctVal>0.4064428314</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>ABS-MBS</assetCat>
				<issuerCat>USGA</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<debtSec>
					<maturityDt>2026-01-15</maturityDt>
					<couponKind>Floating</couponKind>
					<annualizedRt>6</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Government National Mortgage Association</name>
				<lei>549300M8ZYFG0OCMTT87</lei>
				<title>GN 666087</title>
				<cusip>36295B6Y4</cusip>
				<identifiers>
					<isin value="US36295B6Y49"/>
					<ticker value="GNR"/>
				</identifiers>
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				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>145518.24</valUSD>
				<pctVal>0.6510662675</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>ABS-MBS</assetCat>
				<issuerCat>USGA</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<debtSec>
					<maturityDt>2038-03-15</maturityDt>
					<couponKind>Floating</couponKind>
					<annualizedRt>5</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>Government National Mortgage Association</name>
				<lei>549300M8ZYFG0OCMTT87</lei>
				<title>GN 677052</title>
				<cusip>36295QEZ9</cusip>
				<identifiers>
					<isin value="US36295QEZ90"/>
					<ticker value="GNR"/>
					<other otherDesc="SEDOL Number" value="B3CB0W3"/>
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				<balance>59069.02</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>67221.53</valUSD>
				<pctVal>0.300757284</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>ABS-MBS</assetCat>
				<issuerCat>USGA</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>2</fairValLevel>
				<debtSec>
					<maturityDt>2038-06-15</maturityDt>
					<couponKind>Floating</couponKind>
					<annualizedRt>6</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Bonds</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 6 02/15/26</title>
				<cusip>912810EW4</cusip>
				<identifiers>
					<isin value="US912810EW46"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="2888163"/>
				</identifiers>
				<balance>800000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>1034140.62</valUSD>
				<pctVal>4.6268706486</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2026-02-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>6</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Bonds</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 6.375 08/15/27</title>
				<cusip>912810FA1</cusip>
				<identifiers>
					<isin value="US912810FA17"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="2094937"/>
				</identifiers>
				<balance>400000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>554421.88</valUSD>
				<pctVal>2.4805507819</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
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					<couponKind>Fixed</couponKind>
					<annualizedRt>6.375</annualizedRt>
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					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
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				<securityLending>
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					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
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			<invstOrSec>
				<name>United States Treasury Bonds</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 5 05/15/37</title>
				<cusip>912810PU6</cusip>
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					<isin value="US912810PU60"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="B23Y8Q4"/>
				</identifiers>
				<balance>500000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>779863.28</valUSD>
				<pctVal>3.4892029675</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
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					<couponKind>Fixed</couponKind>
					<annualizedRt>5</annualizedRt>
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					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
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				<securityLending>
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					<isLoanByFund>N</isLoanByFund>
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			<invstOrSec>
				<name>United States Treasury Bonds</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.75 08/15/42</title>
				<cusip>912810QX9</cusip>
				<identifiers>
					<isin value="US912810QX90"/>
					<ticker value="T"/>
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				<balance>400000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>485531.25</valUSD>
				<pctVal>2.1723257419</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
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					<couponKind>Fixed</couponKind>
					<annualizedRt>2.75</annualizedRt>
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					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
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					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
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			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Bonds</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.25 08/15/46</title>
				<cusip>912810RT7</cusip>
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					<isin value="US912810RT79"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="BD1FML9"/>
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				<curCd>USD</curCd>
				<valUSD>560537.11</valUSD>
				<pctVal>2.5079110631</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2046-08-15</maturityDt>
					<couponKind>Fixed</couponKind>
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					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
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				<securityLending>
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					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.25 08/15/27</title>
				<cusip>9128282R0</cusip>
				<identifiers>
					<isin value="US9128282R06"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="BF53YJ5"/>
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				<balance>2400000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>2606859.38</valUSD>
				<pctVal>11.6634052634</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2027-08-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>2.25</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 3.125 11/15/28</title>
				<cusip>9128285M8</cusip>
				<identifiers>
					<isin value="US9128285M81"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="BGRW840"/>
				</identifiers>
				<balance>1200000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>1401773.44</valUSD>
				<pctVal>6.2717045053</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2028-11-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>3.125</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.625 08/15/20</title>
				<cusip>912828NT3</cusip>
				<identifiers>
					<isin value="US912828NT32"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="B55QYC7"/>
				</identifiers>
				<balance>1400000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>1408750</valUSD>
				<pctVal>6.3029184815</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2020-08-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>2.625</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 3.625 02/15/21</title>
				<cusip>912828PX2</cusip>
				<identifiers>
					<isin value="US912828PX26"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="B64GN62"/>
				</identifiers>
				<balance>2300000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>2355298.83</valUSD>
				<pctVal>10.5378928305</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2021-02-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>3.625</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.125 08/15/21</title>
				<cusip>912828RC6</cusip>
				<identifiers>
					<isin value="US912828RC60"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="B4WLSH1"/>
				</identifiers>
				<balance>1200000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>1219968.74</valUSD>
				<pctVal>5.4582882116</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2021-08-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>2.125</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2 02/15/22</title>
				<cusip>912828SF8</cusip>
				<identifiers>
					<isin value="US912828SF82"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="B7MSV63"/>
				</identifiers>
				<balance>2900000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>2962191.4</valUSD>
				<pctVal>13.2532038478</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2022-02-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>2</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.5 08/15/23</title>
				<cusip>912828VS6</cusip>
				<identifiers>
					<isin value="US912828VS66"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="BCZP0C5"/>
				</identifiers>
				<balance>2200000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>2320441.4</valUSD>
				<pctVal>10.381936458</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2023-08-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>2.5</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.125 02/29/24</title>
				<cusip>912828W48</cusip>
				<identifiers>
					<isin value="US912828W481"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="BF0SHB8"/>
				</identifiers>
				<balance>1300000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>1362105.47</valUSD>
				<pctVal>6.0942251929</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2024-02-29</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>2.125</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
			<invstOrSec>
				<name>United States Treasury Notes</name>
				<lei>254900HROIFWPRGM1V77</lei>
				<title>T 2.125 05/15/25</title>
				<cusip>912828XB1</cusip>
				<identifiers>
					<isin value="US912828XB14"/>
					<ticker value="T"/>
					<other otherDesc="SEDOL Number" value="BXC4FY9"/>
				</identifiers>
				<balance>2200000</balance>
				<units>PA</units>
				<curCd>USD</curCd>
				<valUSD>2332042.97</valUSD>
				<pctVal>10.4338432903</pctVal>
				<payoffProfile>Long</payoffProfile>
				<assetCat>DBT</assetCat>
				<issuerCat>UST</issuerCat>
				<invCountry>US</invCountry>

				<isRestrictedSec>N</isRestrictedSec>

				<fairValLevel>1</fairValLevel>
				<debtSec>
					<maturityDt>2025-05-15</maturityDt>
					<couponKind>Fixed</couponKind>
					<annualizedRt>2.125</annualizedRt>
					<isDefault>N</isDefault>
					<areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
					<isPaidKind>N</isPaidKind>
				</debtSec>
				<securityLending>
					<isCashCollateral>N</isCashCollateral>
					<isNonCashCollateral>N</isNonCashCollateral>
					<isLoanByFund>N</isLoanByFund>
				</securityLending>
			</invstOrSec>
		</invstOrSecs>
		<signature>
			<ncom:dateSigned>2020-04-24</ncom:dateSigned>
			<ncom:nameOfApplicant>SHELTON FUNDS</ncom:nameOfApplicant>
			<ncom:signature>/s/ Gregory Pusch</ncom:signature>
			<ncom:signerName>Gregory Pusch</ncom:signerName>
			<ncom:title>General Counsel and CCO</ncom:title>
		</signature>
	</formData>
</edgarSubmission>
