Concorde Funds NPORTP Concorde Wealth Management Fund (Jun 2022 report)

CONCORDE WEALTH MANAGEMENT FUND

SCHEDULE OF INVESTMENTS IN SECURITIES

July 30th, 2022 (Unaudited)


	Shares		Fair Value		Percent of Net Assets
COMMON STOCKS - 59.04%
FINANCE & INSURANCE

JPMorgan Chase & Co.		6,300	$	709,443		1.97	%


HEALTH CARE
Encompass Health Corp.		9,500		532,475		1.48


INFORMATION
Comcast Corp. - Class A		12,300		482,652		1.34
Lumen Technologies, Inc.		52,800		576,048		1.60
Microsoft Corp.		4,100		1,053,003		2.93
Warner Bros Discovery, Inc. (a)		32,250		432,795		1.20

				2,544,498		7.07


MANUFACTURING
AbbVie, Inc.		5,200		796,432		2.21
Bunge LTD. - ADR (b)		7,050		639,365		1.78
DuPont de Nemours, Inc.		8,500		472,430		1.31
Exxon Mobil Corp.		7,300		625,172		1.74
Fortune Brands Home & Security, Inc.		7,000		419,160		1.16
Hanesbrands, Inc.		42,000		432,180		1.20
Hubbell, Inc.		4,000		714,320		1.99
Johnson & Johnson		5,300		940,803		2.61
Louisiana-Pacific Corp.		8,200		429,762		1.19
Moderna, Inc. (a)		2,500		357,125		0.99
Northrop Grumman Corp.		1,000		478,570		1.33
Texas Instruments, Inc.		2,200		338,030		0.94
The Hershey Co.		2,990		643,329		1.79

				7,286,678		20.24


MINING, QUARRYING & OIL & GAS EXTRACTION
Black Stone Minerals LP		38,668		529,365		1.47
Dorchester Minerals, LP		23,500		560,475		1.56
Franco-Nevada Corp. - ADR (b)		5,600		736,848		2.05
Kimbell Royalty Partners, LP		31,000		486,080		1.35
Martin Marietta Materials, Inc.		1,100		329,164		0.91
Pioneer Natural Resources Co.		4,750		1,059,630		2.94
Schlumberger LTD. - ADR (b)		13,200		472,032		1.31
Texas Pacific Land Corp.		1,925		2,864,438		7.96

				7,038,032		19.55


REAL ESTATE & RENTAL & LEASING
The Howard Hughes Corp. (a)		7,500		510,375		1.42


RETAIL TRADE
Amazon.com, Inc. (a)		5,200		552,292		1.53
Lowe’s Companies, Inc.		4,000		698,680		1.94
The TJX Companies, Inc.		9,000		502,650		1.40

				1,753,622		4.87


TRANSPORTATION AND WAREHOUSING
Canadian Pacific Railway LTD. - ADR (b)		4,614		322,242		0.90


UTILITIES
Kinder Morgan, Inc.		33,000		553,080		1.54

TOTAL COMMON STOCKS (Cost $14,227,858)				21,250,445		59.04


PREFERRED STOCKS - 0.73%
PROFESSIONAL, SCIENTIFIC, & TECHNICAL SERVICES
Qurate Retail, Inc. (a)		4,500		263,025		0.73

TOTAL PREFERRED STOCKS (Cost $391,943)				263,025		0.73


EXCHANGE TRADED FUNDS - 6.96%
JPMorgan Ultra-Short Income ETF		17,000		851,530		2.37
PIMCO Enhanced Short Maturity Active Exchange-Traded Fund		6,000		594,660		1.65
Sprott Physical Gold Trust (a)(b)		74,500		1,056,410		2.94

TOTAL EXCHANGE TRADED FUNDS (Cost $2,227,458)				2,502,600		6.96


CLOSED-END FUNDS - 3.78%
PIMCO Flexible Credit Income Fund - Institutional Class (c)		47,619		374,765		1.04
Pioneer ILS Interval Fund (c)(d)		117,583		985,344		2.74

TOTAL CLOSED-END FUNDS (Cost $1,640,000)				1,360,109		3.78


OPEN-END FUND - 1.83%
Cohen & Steers Institutional Realty Shares		6,784		321,712		0.89
Morgan Stanley Global Fixed Income Opportunities Fund - Institutional Class (d)		65,333		338,423		0.94

TOTAL OPEN-END FUND (Cost $639,125)				660,135		1.83


	Capital Contributions		Fair Value		Percent of Net Assets
PRIVATE FUNDS - 9.65%
LLR Equity Partners V, L.P. (a)(c)(e)		920,000		1,290,533		3.59
LRVHealth, L.P. (a)(c)(e)		375,000		408,700		1.14
Moran Tice 20:20 Fund, L.P. (a)(c)(e)		250,000		181,604		0.50
RCP Select Capital Fund, L.P. (a)(c)(e)		400,000		400,000		1.11
SPAC Opportunity Partners, LLC - Class A (a)(c)(e)		1,000,000		835,607		2.32
HONGKONGO (a)(c)(e)		500,000		355,787		0.99

TOTAL PRIVATE FUNDS (Cost $3,286,882)				3,472,231		9.65


	Shares
REITS - 2.34%
FINANCE & INSURANCE
Medical Properties Trust, Inc.		27,000		412,290		1.15


REAL ESTATE & RENTAL & LEASING
First Industrial Realty Trust, Inc.		9,000		427,320		1.19

TOTAL REITS (Cost $747,339)				839,610		2.34


	Principal Amounts
CORPORATE BONDS - 2.75%
FINANCE & INSURANCE
AerCap Ireland Capital DAC / AerCap Global Aviation Trust, 3.30%, 01/23/2023 (b)		100,000		99,608		0.28
Discover Financial Services, 3.85%, 11/21/2022		200,000		200,495		0.56
Fiserv, Inc., 3.50%, 10/01/2022		200,000		200,000		0.56
JPMorgan Chase & Co., 4.29% to 10/03/2022 3 Month LIBOR USD + 3.320%, Perpetual (f)(g)		175,000		163,188		0.45

				663,291		1.85


MANUFACTURING
Motorola Solutions, Inc., 7.50%, 05/15/2025		50,000		52,875		0.15


MINING, QUARRYING & OIL & GAS EXTRACTION
Freeport-McMoRan, Inc., 4.13%, 03/01/2028		150,000		139,420		0.39
BP Capital Markets PLC, 4.88% to 12/22/2022 5 Year CMT Rate + 4.398%, Perpetual (b)(g)		150,000		130,709		0.36

				270,129		0.75

TOTAL CORPORATE BONDS (Cost $1,042,248)				986,295		2.75


	Principal Amounts		Fair Value			Percent of Net Assets
U.S. GOVERNMENT OBLIGATIONS - 6.15%
UNITED STATES TREASURY NOTE 2.25%, 11/15/2024		2,250,000		2,213,174			6.15

TOTAL U.S. GOVERNMENT OBLIGATIONS (Cost $2,269,705)				2,213,174			6.15


SHORT-TERM INVESTMENTS - 7.06%
US TREASURY BILL 0.631%, 08/18/2022		1,000,000		998,220			2.77

MONEY MARKET FUNDS
Invesco Government & Agency Portfolio - Institutional Class, 1.38% (h)		80,244		80,244			0.22
Morgan Stanley Institutional Liquidity Fund Government Portfolio - Institutional Class, 1.39% (h)		1,465,940		1,465,941			4.07

				1,546,185			4.29

TOTAL SHORT-TERM INVESTMENTS (Cost $2,545,349)				2,544,405			7.06


Total Investments (Cost $29,017,907) - 100.29%				36,092,029			100.29
Liabilities in Excess of Other Assets - (0.29)%				(107,087	)		(0.29	)

TOTAL NET ASSETS - 100.00%			$	35,984,942			100.00	%

Percentages are stated as a percent of net assets.

ADR	American Depositary Receipt

REIT	Real Estate Investment Trust

(a)	Presently non-income producing.

(b)	Foreign issued security listed directly on a U.S. securities exchange.

(c)	Restricted securities may be subject to restrictions on disposition imposed by the issuer. At June 30, 2022, restricted securities represented 13.47% of net assets of the Fund.

(d)	Value determined based on estimated fair value. The value of these securities total $1,323,767, which represents 3.68% of total net assets. Classified as Level 3 in the fair value hierarchy.

Please refer to Note 2 of the Notes to Financial Statements.

(e)	Securities for which market quotations are not readily available are valued at fair value determined by the Advisor. Such values are approved on a quarterly basis by the Board of Directors.

(f)

Variable rate security; the coupon is based on a reference index and spread. The rate reported is the current rate as of June 30, 2022. After October 1, 2022, LIBOR (London InterBank Offered Rate) may no longer be available or no longer deemed an appropriate reference rate upon which to determine the interest rate. In light of this eventuality, public and private sector industry initiatives are currently underway to identify new or alternative reference rates to be used in place of LIBOR.

(g)	Security is a perpetual bond and has no definite maturity date.

(h)	This security has a fluctuating yield; rate disclosed is the 7-day yield as of June 30, 2022.

The accompanying notes are an integral part of these schedules of investments.

CONCORDE WEALTH MANAGEMENT FUND

SCHEDULE OF WRITTEN OPTIONS

June 30, 2022 (Unaudited)


	Notional Amount		Number of Contracts (a)		Fair Value		Percent of Net Assets
WRITTEN OPTIONS - (0.02)%
WRITTEN CALL OPTIONS - (0.02)%
AbbVie, Inc.
Expiration: July 2022, Exercise Price: $157.50		229,740		15	$	1,635		0.01	%
Hershey Co.
Expiration: July 2022, Exercise Price: $225.00		215,160		10		950		0.00	% (b)
Johnson & Johnson
Expiration: July 2022, Exercise Price: $182.50		266,265		15		1,365		0.00	% (b)
Microsoft Corp.
Expiration: July 2022, Exercise Price: $270.00		385,245		15		2,670		0.01	%

TOTAL WRITTEN CALL OPTIONS (Premiums received $10,656)						6,620		0.02	%


WRITTEN PUT OPTIONS - (0.00)% (b)
Amazon.com, Inc.
Expiration: July 2022, Exercise Price: $100.00		53,105		5		925		0.00	% (b)
DuPont de Nemours, Inc.
Expiration: July 2022, Exercise Price: $53.00		55,580		10		1,100		0.00	% (b)

TOTAL WRITTEN PUT OPTIONS (Premiums received $1,547)						2,025		0.00	%

TOTAL WRITTEN OPTIONS (Premiums received $12,203)					$	8,645		0.02	%

(a)	Each contract is equivalent to 100 shares of common stock.

(b)	Amount is less than (0.05)%.

The accompanying notes are an integral part of these schedules of investments.

Concorde Funds NPORT-PConcorde Wealth Management Fund (Jun 2022 report)