Tanaka Funds NPORT-P Tanaka Growth Fund (Feb 2023 report)

Schedule of Investments
February 28, 2023 (unaudited)
Tanaka Growth Fund
		Shares or Principal
Security Description		Amount ($)		Fair Value ($)(1)
Common Stocks - 99.15%
Accident & Health Insurance - 5.91%
Aflac, Inc.		12,900		879,135
Asset Management - 4.77%
The Carlyle Group, Inc.		20,625		709,500
Beverages - 1.90%
PepsiCo, Inc.		1,625		281,986
Cigarettes - 2.56%
Philip Morris International, Inc.		3,910		380,443
Credit Services - 1.34%
MasterCard, Inc. Class A		560		198,962
Electronic Computers - 18.38%
Apple, Inc. (2)		18,518		2,729,738
Entertainment - 0.39%
Paramount Global Class B		2,700		57,834
General Industrial Machinery & Equipment, NEC - 6.55%
Symbotic, Inc. - Class A (2)		70,000		972,825
Industrial Organic Chemicals - 4.07%
Amyris, Inc. (2)		483,347		604,184
Information Technology Services - 0.52%
Accenture PLC Class A (Ireland)		290		77,009
Measuring & Controlling Device - 7.16%
Onto Innovation, Inc. (2)		12,883		1,062,461
Miscellaneous Metal Ores - 1.20%
Cameco Corp. (Canada)		6,500		177,710
Motor Vehicle Parts & Accessories - 0.48%
Honeywell International, Inc.		370		70,848
Motor Vehicles & Passenger Car - 4.84%
Tesla Motors, Inc.  (2)		3,495		718,956
Oil & Gas Field Exploration Se - 5.66%
NexGen Energy Ltd. (Canada) (2)		198,889		839,841
Pharmaceutical Preparations - 10.67%
Catalyst Pharmaceuticals, Inc. (2)		81,098		1,237,555
Corcept Therapeuticals, Inc. (2)		16,655		346,924
				1,584,479
Primary Smelting & Refining of - 0.00%
Blue Earth Refineries, Inc.  (2)		27,719		0
Radio & TV Broadcasting & Communications Equipment - 5.49%
Qualcomm, Inc.		6,598		815,051
Retail-Catalog & Mail-Order Houses - 2.27%
Amazon.com, Inc.  (2)		3,580		337,343
Security Brokers, Dealers & Flotation Companies - 5.09%
Stifel Financial Corp.		11,310		755,847
Semiconductors & Related Devices - 5.56%
Applied Materials, Inc.		3,870		449,501
NVIDIA Corp.		1,620		376,099
				825,600
Services-Computer Programming, Data Processing, Etc. - 0.90%
Meta Platforms, Inc. Class A  (2)		760		132,954
Specialty Chemicals - 2.47%
Nanoco Group PLC (United Kingdom)  (2)		1,260,607		366,080
Uranium - 0.97%
Uranium Energy Corp. (2)		39,000		144,300
Total Common Stock		(Cost $           8,843,486)		14,723,086
Short-Term Investments - 0.82%
Huntington Conservative Deposit Account 4.40% (3)		121,660		121,660
Total Short-Term Investment Companies		(Cost $               121,660)		121,660
Total Investments - 99.97%		(Cost $            8,965,146)		14,844,746
Liabilities in Excess of Other Assets - .03%				4,164
Total Net Assets - 100.00%				14,848,910
(1)  Statement on Financial Accounting Standard No. 157 "Fair Value Measurements" - Various inputs are used in determining the value of the Fund's investments.
These inputs are summarized in the three broad levels listed below.
• Level 1 - quoted prices in active markets for identical securities
• Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
• Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments)
The following is a summary of the inputs used as of February 28, 2023 in valuing the Fund's assets carried at fair value:
		Investments in		Other Financial
Valuation Inputs		Securities		Instruments (9)
Level 1 - Quoted Prices	$	13,871,921	$	-
Level 2 - Other Significant Observable Inputs				-
Level 3 - Significant Unobservable Inputs	$	972,825		-
Total	$	14,844,746	$	0
The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities. For example, short-term
debt instruments and repurchase agreements with a maturity of less than 60 days are valued using amortized cost, in accordance with rules under the Investment
Company Act of 1940. Generally, amortized cost approximates the current fair value of a security, but since the value is not obtained from a quoted price in an active
market, such securities are reflected as Level 2.
(2)  Represents non-income producing securities.
(3)  Investment in affiliate. The yield shown represents the 7-day yield in effect at February 28, 2023.