UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

FORM N-CSR

CERTIFIED SHAREHOLDER REPORT OF REGISTERED

MANAGEMENT INVESTMENT COMPANIES

Investment Company Act file number 811-10529

The Investment House Funds

(Exact name of registrant as specified in charter)

5940 S. Rainbow Blvd., Suite 400, PMB 57150	Las Vegas, Nevada 89118
(Address of principal executive offices)	(Zip code)

Timothy J. Wahl

The Investment House LLC

5940 S. Rainbow Blvd., Suite 400, PMB 57150, Las Vegas, Nevada 89118

(Name and address of agent for service)

Registrant's telephone number, including area code: (310) 873-3020

Date of fiscal year end:	July 31
Date of reporting period:	July 31, 2023

Form N-CSR is to be used by management investment companies to file reports with the Commission not later than 10 days after the transmission to stockholders of any report that is required to be transmitted to stockholders under Rule 30e-1 under the Investment Company Act of 1940 (17 CFR 270.30e-1). The Commission may use the information provided on Form N-CSR in its regulatory, disclosure review, inspection, and policymaking roles.

A registrant is required to disclose the information specified by Form N-CSR, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-CSR unless the Form displays a currently valid Office of Management and Budget (“OMB”) control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington, DC 20549-0609. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. § 3507.

Item 1. Reports to Stockholders.

(a)

	The Investment House Funds
The Investment House Growth Fund
Annual Report
July 31, 2023

The Investment House Growth Fund

Letter to Shareholders

July 31, 2023 (Unaudited)

We closed out fiscal year 2023 on July 31, 2023 and would like to thank you for joining us as shareholders of The Investment House Growth Fund (the “Fund”). This is our 21st year advising the Fund, and for those of you who have been with us from the beginning, we are pleased to report a cumulative return since inception of 631.5% versus 502.65% for the S&P 500 Index.

Since the Fund’s inception on December 28, 2001, the Fund has had an average annual return of 9.66% through July 31, 2023, versus 8.68% for the S&P 500 Index for the same period.

For the fiscal year ended July 31, 2023, the Fund returned 17.50% vs 13.02% for the S&P 500 Index.

Our top 5 holdings comprised 48.9% of the portfolio and were all related in some way to the Technology or Communications sectors. It is important to remember that such categorizations we view as somewhat arbitrary, as they stretch across a vast landscape of different kinds of businesses, from internet & social media (Meta, Alphabet); to information management (Intuit); to a branded lifestyle, entertainment, and productivity ecosystem (Apple), to e-commerce (Amazon). In fact, in this age, it is very hard to find any business which does not, in some important way, directly make use of and benefit from digital information or communications technologies, and therefore we regard the Fund’s 70.2% allocation to companies within the Technology & Communications sectors as a far more economically and financially diverse than the single name “Technology” (or “Communications”) would suggest.

Below is a table reflecting the weights of the key S&P 500 sectors vs the corresponding weights of the Fund’s holdings:

	S&P 500	Fund Weight
Sector	Weight (%)	(% of net assets)
Communication	8.7	19.5
Consumer Discretionary	10.6	10.6
Consumer Staples	6.6	2.5
Energy	4.3	0.0
Financials	12.6	3.3
Health Care	13.1	6.6
Industrials	8.5	4.9
Materials	2.5	1.4
Real Estate	2.5	0.0
Technology	28.1	50.7
Utilities	2.6	0.0

1

The size and performance of our 10 largest holdings are shown in the table below:

	Weight		8/1/22 – 7/31/23
Fund Holding	(% of net assets)		Return (%)
Apple, Inc.	14.0		21.6
Meta	10.1		99.2
Alphabet Class A & C	9.4		15.5
Intuit	9.0		14.1
Amazon	6.5		-1.2
NVIDIA	4.8		153.4
Intuitive Surgical	4.5		41.9
Adobe, Inc.	3.4		32.8
Texas Instruments	3.2		.67
Accenture plc		2.9	3.29
Total		67.8

RISK MANAGEMENT AND DIVERSIFICATION

Our attitude toward Risk Management remains the same: we define risk as the chance of permanent capital loss. We attempt to limit this risk by selecting the very best companies we can, and to manage portfolio risk by diversifying our separate company holdings. To the extent that such holdings, though in different companies, remain in or are related to the same sectors of the economy, then such concentrations may add to sector risk.

PORTFOLIO TURNOVER

We continue to believe that less portfolio activity with the right companies is far superior to more activity with the wrong ones. This policy of enlightened lethargy has resulted in an average annualized after-tax return on distributions before the sale of Fund shares since inception of 9.46% for the Fund through July 31, 2023 versus a pre-tax return of 9.66%. Our inactivity, therefore, has benefited you, our shareholders, by costing the Fund only 20 basis points (20 hundredths of a percentage point) in average annual returns over the course of our twenty plus years. Of course, we still have just a little way to go to hit zero, but we are mighty close.

Our average rate of turnover for the fiscal year was approximately 9%. As in the past, we try to invest in companies we believe have strong, profitable competitive advantages which are growing and sustainable long into the future, such that time is our best friend in owning them. Sometimes we get it wrong, or there is a change in circumstance which requires a change in our positioning. In all cases though, we are motivated by producing the greatest after-tax growth of capital consistent with our desire to minimize the risk of permanent capital loss.

Rorschach Test

The Rorschach inkblot test is a type of projective assessment in which subjects look at 10
ambiguous inkblot images and describe what they see in each one.

2

Notwithstanding the fact that CPI peaked just about 1 year ago, as shown below, both short-and long-term interest rates have continued to grind higher over the past year. The idea that rates may stay higher for longer than previously expected is often repeated in the financial news media, but, that seems less likely if the current downward trends in inflation continue.

These conditions have produced some peculiar distortions, however. While the period from July 2022 through year end saw markets gyrate in accordance with each new inflation estimate, by the turn of the new year, enthusiasm over the commercial application of artificial intelligence took hold, propelling the S&P 500 +16.9% in the first 2 quarters of calendar 2023. These gains were far from evenly distributed, however.

The record concentration of the index components – in which only 7 members of the S&P 500 account for nearly 28% of the index’s total value – produced a few curious results: 12.2 percentage points of the entire 16.9% YTD S&P 500 result was attributable to the performance of just the 7 largest stocks. The rest of the S&P 500 493 was up roughly 4%. This imbalance in turn left a similarly skewed valuation picture, as the chart below illustrates: the average P/E of the Big 7 is 28.X, while the rest of the market is at 16.9X. This bifurcation in valuation has created a select number of interesting opportunities in certain companies with superior returns on invested capital; durable competitive advantages; and rational capital allocation policies. Where we find a sufficient margin of safety in the prices at which they are available, we become very interested, whether those taking the market Rorschach test everyday scream “inflation,” or “recession,” or both.

3

There is yet another hidden advantage for us in the current environment: according to researchers Alex Chinco and Marco Sammon, 37.8% of the U.S equity market, or $16 Trillion, is controlled by passive indexing.

Under such conditions, this means a large percentage of equity activity is solely attributable to the momentum effects of passive indexers chasing the returns of stocks whose weightings are increasing, creating a self-fulfilling positive feedback loop on prices within the market. One of the results is that, more and more, individual companies are being ignored for their fundamental economic, cash flow-producing attributes, especially when their relative weightings in the index are small or nonexistent. And over time, this dynamic is increasing, creating a potentially attractive, enduring edge for those like us focused on business economics, returns on invested capital, and the present value of future cash flows. Our attitude toward these developments was perfectly summed up by the great Wayne Gretzky:

“I skate to where the puck is going to be, not to where it has been.”

Sincerely

The Investment House LLC

Past performance is not predictive of future performance. Investment results and principal value will fluctuate so that shares, when redeemed, may be worth more or less than their original cost. Current performance may be higher or lower than the performance data quoted.

An investor should consider the investment objectives, risks, charges and expenses of the Fund carefully before investing. The Fund’s prospectus contains this and other important information. To obtain a copy of the Fund’s prospectus please visit www.tihfunds.com or call 1-888-456-9518 and a copy will be sent to you free of charge. Please read the prospectus carefully before you invest. The Investment House Growth Fund is distributed by Ultimus Fund Distributors, LLC.

4

The Letter to Shareholders seeks to describe some of the adviser’s current opinions and views of the financial markets. Although the adviser believes it has a reasonable basis for any opinions or views expressed, actual results may differ, sometimes significantly so, from those expected or expressed.

Some of the information given in this publication has been produced by unaffiliated third parties and, while it is deemed reliable, the adviser does not guarantee its timeliness, sequence, accuracy, adequacy, or completeness and makes no warranties with respect to results to be obtained from its use.

5

The Investment House Growth Fund

Performance Information

July 31, 2023 (Unaudited)

Comparison of the Change in Value of a $10,000 Investment in
The Investment House Growth Fund and the
S&P 500 Index Since Inception*

Average Annual Total Returns
(for periods ended July 31, 2023)

				Since
	1 Year	5 Years	10 Years	Inception*
The Investment House Growth Fund (a)(b)	17.50%	11.43%	13.66%	9.66%
S&P 500 Index	13.02%	12.20%	12.66%	8.68%

^* Initial public offering of shares was December 28, 2001.

^(a) The Fund’s total returns shown do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or the redemption of Fund shares.

^(b) The Fund’s total expense ratio for the year ended July 31, 2023 was 1.42%. The expense ratio as disclosed in the December 1, 2022 prospectus was 1.42%.

6

The Investment House Growth Fund

Portfolio Information

July 31, 2023 (Unaudited)

Sector Diversification vs. the S&P 500 Index
(% of Net Assets)

Top 10 Holdings

	% of
Security Description	Net Assets
Apple, Inc.	14.0%
Meta Platforms, Inc. - Class A	10.1%
Alphabet, Inc. - Classes A & C	9.4%
Intuit, Inc.	9.0%
Amazon.com, Inc.	6.5%
NVIDIA Corporation	4.8%
Intuitive Surgical, Inc.	4.5%
Adobe, Inc.	3.4%
Texas Instruments, Inc.	3.2%
Accenture plc - Class A	2.9%

7

The Investment House Growth Fund

Schedule of Investments

July 31, 2023

COMMON STOCKS — 99.5%	Shares		Value
Communications — 19.5%
Internet Media & Services — 19.5%
Alphabet, Inc. - Class A (a)		65,500	$	8,693,160
Alphabet, Inc. - Class C (a)		72,180		9,607,880
Meta Platforms, Inc. - Class A (a)		62,000		19,753,200
				38,054,240
Consumer Discretionary — 10.6%
E-Commerce Discretionary — 8.2%
Alibaba Group Holding Ltd. - ADR (a)		22,000		2,247,520
Amazon.com, Inc. (a)		94,500		12,632,760
MercadoLibre, Inc. (a)		875		1,083,294
				15,963,574
Retail - Discretionary — 2.4%
Lowe’s Companies, Inc.		8,500		1,991,295
RH (a)		4,000		1,552,680
Williams-Sonoma, Inc.		8,000		1,109,120
				4,653,095
Consumer Staples — 2.5%
Household Products — 1.1%
Church & Dwight Company, Inc.		22,000		2,104,740
Retail - Consumer Staples — 1.4%
Costco Wholesale Corporation		5,000		2,803,350
Financials — 3.3%
Institutional Financial Services — 2.4%
Intercontinental Exchange, Inc.		30,000		3,444,000
Nu Holdings Ltd. - Class A (a)		150,000		1,194,000
				4,638,000
Specialty Finance — 0.9%
American Express Company		11,000		1,857,680
Health Care — 6.6%
Health Care Facilities & Services — 1.1%
Charles River Laboratories International, Inc. (a)		10,000		2,095,400
Medical Equipment & Devices — 5.5%
Intuitive Surgical, Inc. (a)		27,000		8,758,800
Stryker Corporation		7,500		2,125,575
				10,884,375

See accompanying notes to financial statements.

8

The Investment House Growth Fund

Schedule of Investments

July 31, 2023 (Continued)

COMMON STOCKS — 99.5% (Continued)	Shares		Value
Industrials — 4.9%
Commercial Support Services — 1.0%
Waste Management, Inc.		12,000	$	1,965,480
Machinery — 1.3%
Deere & Company		6,000		2,577,600
Transportation & Logistics — 2.6%
Expeditors International of Washington, Inc.		8,500		1,082,050
Norfolk Southern Corporation		7,000		1,635,130
United Parcel Service, Inc. - Class B		12,000		2,245,560
				4,962,740
Materials — 1.4%
Chemicals — 1.4%
Ecolab, Inc.		15,000		2,747,100
Technology — 50.7%
Semiconductors — 9.0%
NVIDIA Corporation		20,000		9,345,800
QUALCOMM, Inc.		13,700		1,810,729
Texas Instruments, Inc.		35,000		6,300,000
				17,456,529
Software — 16.9%
Adobe, Inc. (a)		12,000		6,554,040
Autodesk, Inc. (a)		11,000		2,331,890
CrowdStrike Holdings, Inc. - Class A (a)		16,000		2,586,560
Intuit, Inc.		34,300		17,551,310
Microsoft Corporation		12,000		4,031,040
				33,054,840
Technology Hardware — 15.5%
Apple, Inc.		139,228		27,351,341
Motorola Solutions, Inc.		10,000		2,866,300
				30,217,641

See accompanying notes to financial statements.

9

The Investment House Growth Fund

Schedule of Investments

July 31, 2023 (Continued)

COMMON STOCKS — 99.5% (Continued)	Shares		Value
Technology — 50.7% (Continued)
Technology Services — 9.3%
Accenture plc - Class A		17,900	$	5,662,665
Automatic Data Processing, Inc.		7,000		1,730,820
Block, Inc. - Class A (a)		25,000		2,013,250
Paychex, Inc.		24,000		3,011,280
PayPal Holdings, Inc. (a)		45,000		3,411,900
Visa, Inc. - Class A		10,000		2,377,300
				18,207,215
Total Common Stocks (Cost $37,702,849)			$	194,243,599
MONEY MARKET FUNDS — 0.6%	Shares		Value
First American Government Obligations Fund - Class Z, 5.14% (b) (Cost $1,197,383)		1,197,383	$	1,197,383
Total Investments at Value — 100.1%
(Cost $38,900,232) (c)			$	195,440,982
Liabilities in Excess of Other Assets — (0.1%)				(123,604	)
Net Assets — 100.0%			$	195,317,378

ADR - American Depositary Receipt.

^(a) Non-income producing security.

^(b) The rate shown is the 7-day effective yield as of July 31, 2023.

^(c) All securities are pledged as collateral for the Fund’s bank line of credit (Note 5).

See accompanying notes to financial statements.

10

The Investment House Growth Fund

Statement of Assets and Liabilities

July 31, 2023

ASSETS
Investments in securities:
At acquisition cost	$	38,900,232
At value (Note 2)	$	195,440,982
Receivable for capital shares sold		18,953
Dividends receivable		97,460
Tax reclaims receivable		11,874
Total Assets		195,569,269
LIABILITIES
Payable for capital shares redeemed		5,405
Accrued investment advisory fees (Note 4)		224,047
Accrued Trustees’ fees (Note 4)		22,439
Total Liabilities		251,891
NET ASSETS	$	195,317,378
Net assets consist of:
Paid-in capital	$	38,474,522
Distributable earnings		156,842,856
Net assets	$	195,317,378
Shares of beneficial interest outstanding (unlimited number of shares authorized, no par value)		3,155,835
Net asset value, redemption price and offering price per share (Note 2)	$	61.89

See accompanying notes to financial statements.

11

The Investment House Growth Fund

Statement of Operations

For the Year Ended July 31, 2023

INVESTMENT INCOME
Dividend income	$	1,311,971
Foreign withholding taxes on dividends		(1,378	)
TOTAL INVESTMENT INCOME		1,310,593
EXPENSES
Investment advisory fees (Note 4)		2,242,575
Trustees’ fees (Note 4)		22,500
Borrowing costs and bank fees (Note 5)		12,055
Total expenses		2,277,130
NET INVESTMENT LOSS		(966,537	)
REALIZED AND UNREALIZED GAINS ON INVESTMENTS
Net realized gains from investment transactions		1,898,841
Net change in unrealized appreciation (depreciation) on investments		27,500,651
NET REALIZED AND UNREALIZED GAINS ON INVESTMENTS		29,399,492
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS	$	28,432,955

See accompanying notes to financial statements.

12

The Investment House Growth Fund

Statements of Changes in Net Assets

	Year			Year
	Ended			Ended
	July 31, 2023			July 31, 2022
FROM OPERATIONS
Net investment loss	$	(966,537	)	$	(1,560,993	)
Net realized gains from investment transactions		1,898,841			1,989,418
Net realized gains from in-kind redemptions		—			4,469,919
Net change in unrealized appreciation (depreciation) on investments		27,500,651			(53,803,466	)
Net increase (decrease) in net assets resulting from operations		28,432,955			(48,905,122	)
FROM CAPITAL SHARE TRANSACTIONS
Proceeds from shares sold		7,108,569			14,286,111
Payments for shares redeemed		(10,711,032	)		(19,197,606	)
Net decrease in net assets from capital share transactions		(3,602,463	)		(4,911,495	)
TOTAL INCREASE (DECREASE) IN NET ASSETS		24,830,492			(53,816,617	)
NET ASSETS
Beginning of year		170,486,886			224,303,503
End of year	$	195,317,378		$	170,486,886
CAPITAL SHARE ACTIVITY
Shares sold		138,725			223,010
Shares redeemed		(219,804	)		(305,404	)
Net decrease in shares outstanding		(81,079	)		(82,394	)
Shares outstanding, beginning of year		3,236,914			3,319,308
Shares outstanding, end of year		3,155,835			3,236,914

See accompanying notes to financial statements.

13

The Investment House Growth Fund

Financial Highlights

Per Share Data and Ratios for a Share Outstanding Throughout Each Year

	Years Ended
	July 31,			July 31,			July 31,			July 31,			July 31,
	2023			2022			2021			2020			2019
Net asset value at beginning of year	$	52.67		$	67.58		$	49.80		$	39.26		$	36.03
Income (loss) from investment operations:
Net investment loss (a)		(0.31	)		(0.49	)		(0.41	)		(0.21	)		(0.16	)
Net realized and unrealized gains (losses) on investments		9.53			(14.42	)		18.19			10.75			3.39
Total from investment operations		9.22			(14.91	)		17.78			10.54			3.23
Net asset value at end of year	$	61.89		$	52.67		$	67.58		$	49.80		$	39.26
Total return (b)		17.50	%		(22.06	%)		35.70	%		26.85	%		8.96	%
Net assets at end of year (000’s)	$	195,317		$	170,487		$	224,304		$	163,826		$	126,744
Ratio of total expenses to average net assets (c)		1.42	%		1.41	%		1.41	%		1.42	%		1.42	%
Ratio of net investment loss to average net assets (a)(c)		(0.60	%)		(0.78	%)		(0.71	%)		(0.52	%)		(0.47	%)
Portfolio turnover rate		9	%		10	%		1	%		11	%		6	%

^(a) Recognition of net investment loss by the Fund is affected by the timing of the declarations of dividends by the underlying investment companies, if any, in which the Fund invests.

^(b) Total return is a measure of the change in value of an investment in the Fund over the periods covered, which assumes any dividends or capital gains distributions are reinvested in shares of the Fund. The returns shown do not reflect the deduction of taxes a shareholder would pay on Fund distributions or the redemption of Fund shares.

^(c) The ratios of expenses and net investment loss to average net assets do not reflect the Fund’s proportionate share of expenses of the underlying investment companies, if any, in which the Fund invests.

See accompanying notes to financial statements.

14

The Investment House Growth Fund

Notes to Financial Statements

July 31, 2023

1. Organization

The Investment House Growth Fund (the “Fund”) is a diversified series of The Investment House Funds (the “Trust”), an open-end management investment company established under the laws of Ohio by an Agreement and Declaration of Trust dated October 2, 2001.

The investment objective of the Fund is long term capital appreciation.

2. Significant Accounting Policies

The Fund follows accounting and reporting guidance under Financial Accounting Standards Board Accounting Standards Codification Topic 946, “Financial Services – Investment Companies.” The following is a summary of the Fund’s significant accounting policies used in the preparation of its financial statements. These policies are in conformity with accounting principles generally accepted in the United States of America (“GAAP”).

Securities valuation – The Fund values its portfolio securities at market value as of close of regular trading on the New York Stock Exchange (the “NYSE”) (normally 4:00 p.m. Eastern time) on each business day the NYSE is open. Exchange-traded funds (“ETFs”) are valued at the last sale price on the security’s primary exchange. Lacking a last sale price, an exchange-traded security is generally valued at its last bid price. Securities traded on NASDAQ are valued at the NASDAQ Official Closing Price. Investments representing shares of money market funds and other open-end investment companies, except for ETFs, are valued at their net asset value (“NAV”) as reported by such companies. When using a quoted price and when the market for the security is considered active, the security will be classified as Level 1 within the fair value hierarchy (see below). If market prices are not available or The Investment House LLC, the investment adviser to the Fund (the “Adviser”), believes such prices do not accurately reflect the market value of such securities, securities will be valued by the Adviser as “valuation designee”, in accordance with procedures adopted by the Board of Trustees (the “Board”) pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended (the “1940 Act”). The Adviser has adopted written policies and procedures for valuing securities and other assets in circumstances where market quotes are not readily available. In the event that market quotes are not readily available, and the security or asset cannot be valued pursuant to one of the valuation methods, the value of the security or asset will be determined in good faith by the Adviser pursuant to its policies and procedures. On a quarterly basis, the Adviser’s fair valuation determinations, if any, will be reviewed by the Board. Under these policies, the securities will be classified as Level 2 or 3 within the fair value hierarchy, depending on the inputs used.

GAAP establishes a single authoritative definition of fair value, sets out a framework for measuring fair value and requires additional disclosures about fair value measurements.

Various inputs are used in determining the value of each of the Fund’s investments. These inputs are summarized in the three broad levels listed below:

• Level 1 – quoted unadjusted prices for identical instruments in active markets to which the Fund has access at the date of measurement.

15

The Investment House Growth Fund

Notes to Financial Statements (Continued)

• Level 2 – quoted prices for similar instruments in active markets; quoted prices for identical or similar instruments in markets that are not active; and model-derived valuations in which all significant inputs and significant value drivers are observable in active markets. Level 2 inputs are those in markets for which there are few transactions, the prices are not current, little public information exists or instances where prices vary substantially over time or among brokered market makers.

• Level 3 – model derived valuations in which one or more significant inputs or significant value drivers are unobservable. Unobservable inputs are those inputs that reflect the Fund’s own assumptions that market participants would use to price the asset or liability based on the best available information.

The inputs or methodology used for valuing securities are not necessarily an indication of the risks associated with investing in those securities. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.

The following is a summary of the Fund’s investments and the inputs used to value the investments as of July 31, 2023 by security type:

	Level 1		Level 2		Level 3		Total
Common Stocks	$	194,243,599	$	—	$	—	$	194,243,599
Money Market Funds		1,197,383		—		—		1,197,383
Total	$	195,440,982	$	—	$	—	$	195,440,982

Refer to the Fund’s Schedule of Investments for a listing of the common stocks by sector and industry type. There were no Level 2 or Level 3 securities or derivative instruments held by the Fund as of or during the year ended July 31, 2023.

Share valuation – The NAV is calculated daily by dividing the value of the Fund’s total assets, minus liabilities, by the total number of shares outstanding. The offering price and redemption price per share are equal to the NAV per share.

Investment transactions and investment income – Investment transactions are accounted for on trade date. Realized gains and losses on investments sold are determined on a specific identification basis. Dividend income is recorded on the ex-dividend date. Non-cash dividends included in dividend income, if any, are recorded at the fair market value of the securities received. Interest income is accrued as earned. Withholding taxes on foreign dividends have been recorded in accordance with the Fund’s understanding of the applicable country’s tax rules and rates.

Distributions to shareholders – Dividends arising from net investment income and distributions of net realized capital gains, if any, are declared and paid annually in December. The amount of distributions from net investment income and net realized capital

16

The Investment House Growth Fund

Notes to Financial Statements (Continued)

gains are determined in accordance with income tax regulations, which may differ from GAAP. Dividends and distributions are recorded on the ex-dividend date. There were no distributions paid to shareholders during the years ended July 31, 2023 and 2022.

Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities as of the date of the financial statements and the reported amounts of increases and decreases in net assets from operations during the reporting period. Actual results could differ from those estimates.

Federal income tax – The Fund has qualified and intends to continue to qualify each year as a “regulated investment company” under Subchapter M of the Internal Revenue Code of 1986, as amended (the “Code”). By so qualifying, the Fund will not be subject to federal income taxes to the extent that the Fund distributes its net investment income and any net realized capital gains in accordance with the Code.

In order to avoid imposition of the excise tax applicable to regulated investment companies, it is also the Fund’s intention to declare as dividends in each calendar year at least 98% of its net investment income (earned during the calendar year) and 98.2% of its net realized capital gains (earned during the twelve months ended October 31) plus undistributed amounts from prior years.

The following information is computed on a tax basis for each item as of July 31, 2023:

Cost of investments	$	38,900,232
Gross unrealized appreciation	$	156,540,750
Gross unrealized depreciation		—
Net unrealized appreciation		156,540,750
Undistributed long-term capital gains		886,078
Accumulated capital and other losses		(583,972	)
Distributable earnings	$	156,842,856

During the year ended July 31, 2023, the Fund utilized $1,012,763 of short-term capital loss carryforwards against current year gains.

Net qualified late-year ordinary losses incurred after December 31, 2022 are deemed to arise on the first day of the Fund’s next taxable year. For the year ended July 31, 2023, the Fund deferred $583,972 of ordinary losses to August 1, 2023 for income tax purposes.

For the year ended July 31, 2023, the Fund reclassified $1,098,354 of net investment loss against paid-in capital on the Statement of Assets and Liabilities. Such reclassification, the result of permanent differences between the financial statement and income tax reporting requirements, had no effect on the Fund’s net assets or NAV per share.

17

The Investment House Growth Fund

Notes to Financial Statements (Continued)

The Fund recognizes the tax benefits or expenses of uncertain tax positions only when the position is “more-likely-than-not” to be sustained assuming examination by tax authorities. Management has reviewed the tax positions taken on Federal income tax returns for all open tax years (generally, three years) and has concluded that no provision for unrecognized tax benefits or expenses is required in these financial statements.

The Fund recognizes interest and penalties, if any, related to unrecognized tax benefits as income tax expense on the Statement of Operations. During the year ended July 31, 2023, the Fund did not incur any interest or penalties.

3. Investment Transactions

During the year ended July 31, 2023, cost of purchases and proceeds from sales of investment securities, other than short-term investments and in-kind transactions, if any, amounted to $14,169,256 and $20,357,578, respectively.

4. Transactions with Related Parties

A Trustee and certain officers of the Trust are affiliated with the Adviser, Ultimus Fund Solutions, LLC (“Ultimus”), the Fund’s administrator, transfer agent and fund accounting agent, or Ultimus Fund Distributors, LLC (the “Distributor”), the principal underwriter of the Fund’s shares.

Effective November 27, 2022, the investment advisory agreement for the Fund terminated, due to a change of control of the Adviser. On December 7, 2022, The Board approved an interim investment advisory agreement and a new investment advisory agreement. The new agreement was subject to approval by the shareholders of the Fund. Under the terms of the interim investment advisory agreement, the Adviser managed the Fund’s investments subject to oversight of the Board. The interim agreement terminated on March 15, 2023, which is the date the new agreement was approved by the shareholders of the Fund. Except for the effective and termination dates, the terms of the interim agreement and the new agreement are identical to the terms of the previous investment advisory agreement. The fees paid to the Adviser under the interim agreement and the new agreement are the same as the fees paid to the Adviser under the previous agreement. The new agreement was submitted to the shareholders of the Fund for approval via a proxy solicitation and was approved at a special meeting of the shareholders of the Fund held on March 15, 2023. For its services, the Fund pays the Adviser an investment management fee, which is accrued daily and paid monthly, at the annual rate of 1.40% of the Fund’s average daily net assets. The Adviser pays all of the operating expenses of the Fund except brokerage, taxes, borrowing costs, fees and expenses of non-interested Trustees, extraordinary expenses and distribution and/or service related expenses incurred pursuant to Rule 12b-1 under the 1940 Act (if any).

The Trust has entered into mutual fund services agreements with Ultimus, pursuant to which Ultimus provides day-to-day operational services to the Fund including, but not limited to, accounting, administrative, transfer agent, dividend disbursing, and recordkeeping services. The fees payable to Ultimus are paid by the Adviser (not the Fund).

18

The Investment House Growth Fund

Notes to Financial Statements (Continued)

The Trust has entered into a Distribution Agreement with the Distributor, pursuant to which the Distributor provides distribution services to the Fund and serves as principal underwriter to the Fund. The Distributor is a wholly-owned subsidiary of Ultimus. The fees payable to the Distributor are paid by the Adviser (not the Fund).

The Fund pays each Trustee who is not affiliated with the Adviser $7,500 annually. Trustees who are affiliated with the Adviser do not receive compensation from the Fund.

PRINCIPAL HOLDER OF FUND SHARES

As of July 31, 2023, the following shareholder of record owned 25% or more of the outstanding shares of the Fund:

Name of Record Owner	% Ownership
Charles Schwab & Company (for the benefit of its customers)	27%

A beneficial owner of 25% or more of the Fund’s outstanding shares may be considered a controlling person. That shareholder’s vote could have more significant effect on matters presented at a shareholders’ meeting.

5. Bank Line of Credit

The Fund has a secured bank line of credit with U.S. Bank, N.A. that provides a maximum borrowing of up to $20,000,000. The line of credit may be used to cover redemptions and/or it may be used by the Adviser for investment purposes. When used for investment purposes, the Fund will be using the investment technique of “leverage.” Because the Fund’s investments will fluctuate in value, whereas the interest obligations on borrowed funds may be fixed, during times of borrowing the Fund’s NAV may tend to increase more when its investments increase in value, and decrease more when its investments decrease in value.

In addition, interest costs on borrowings may fluctuate with changing market interest rates and may partially offset or exceed the return earned on the borrowed funds. Also, during times of borrowing under adverse market conditions, the Fund might have to sell portfolio securities to meet interest or principal payments at a time when fundamental investment considerations would not favor such sales. Unless profits on assets acquired with borrowed funds exceed the costs of borrowing, the use of borrowing will diminish the investment performance of the Fund compared with what it would have been without borrowing.

Borrowings under this arrangement bear interest at a rate per annum equal to the Prime Rate minus 0.25% at the time of borrowing. The Fund also pays an annual renewal fee of $1,000 plus any legal fees related to the arrangement. The line of credit matures February 6, 2024. During the year ended July 31, 2023, the Fund incurred $12,055 of interest expense and fees related to the borrowings. The average debt outstanding and the average interest rate for the days with borrowing during the year ended July 31, 2023 were $370,472 and 6.66%. The largest outstanding borrowing during the year ended July 31, 2023 was $1,307,000. As of July 31, 2023, there were no outstanding borrowings for the Fund.

19

The Investment House Growth Fund

Notes to Financial Statements (Continued)

6. Contingencies and Commitments

The Fund indemnifies the Trust’s officers and Trustees for certain liabilities that might arise from their performance of their duties to the Fund. Additionally, in the normal course of business, the Fund enters into contracts that contain a variety of representations and warranties and which provide general indemnifications. The Fund’s maximum exposure under these arrangements is unknown, as this would involve future claims that may be made against the Fund that have not yet occurred. However, based on experience, the Fund expects the risk of loss to be remote.

7. Sector Risk

If the Fund’s portfolio is overweighted in a certain sector, any negative development affecting that sector will have a greater impact on the Fund than a fund that is not overweighted in that sector. To the extent the Fund is overweighted in the Technology sector, it will be affected by developments affecting that sector. Companies in this sector may be significantly affected by intense competition. In addition, technology products may be subject to rapid obsolescence. As of July 31, 2023, the Fund had 50.7% of the value of its net assets invested in companies within the Technology sector.

8. Subsequent Events

The Fund is required to recognize in the financial statements the effects of all subsequent events that provide additional evidence about conditions that existed as of the date of the Statement of Assets and Liabilities. For non-recognized subsequent events that must be disclosed to keep the financial statements from being misleading, the Fund is required to disclose the nature of the event as well as an estimate of its financial effect, or a statement that such an estimate cannot be made. Management has evaluated subsequent events through the issuance of these financial statements and has noted no such events.

20

The Investment House Growth Fund

Report of Independent Registered Public Accounting Firm

To the Shareholders of The Investment House Growth Fund and
Board of Trustees of The Investment House Funds

Opinion on the Financial Statements

We have audited the accompanying statement of assets and liabilities, including the schedule of investments, of The Investment House Growth Fund (the “Fund”), a series of The Investment House Funds as of July 31, 2023, the related statements of operations and changes in net assets, related notes, and the financial highlights for the year then ended (collectively referred to as the “financial statements”). In our opinion, the financial statements present fairly, in all material respects, the financial position of the Fund as of July 31, 2023, the results of operations, the changes in net assets, and the financial highlights for the year then ended, in conformity with accounting principles generally accepted in the United States of America.

The Fund’s financial statements and financial highlights for the years ended July 31, 2022, and prior, were audited by other auditors whose report dated September 22, 2022, expressed an unqualified opinion on those financial statements and financial highlights.

Basis for Opinion

These financial statements are the responsibility of the Fund’s management. Our responsibility is to express an opinion on the Fund’s financial statements based on our audit. We are a public accounting firm registered with the Public Company Accounting Oversight Board (United States) (“PCAOB”) and are required to be independent with respect to the Fund in accordance with the U.S. federal securities laws and the applicable rules and regulations of the Securities and Exchange Commission and the PCAOB.

We conducted our audit in accordance with the standards of the PCAOB. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement whether due to error or fraud.

Our audit included performing procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our procedures included confirmation of securities owned as of July 31, 2023, by correspondence with the custodian. Our audit

21

The Investment House Growth Fund

Report of Independent Registered Public Accounting Firm (Continued)

also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audit provides a reasonable basis for our opinion.

We have served as the Fund’s auditor since 2023.

COHEN & COMPANY, LTD.

Philadelphia, Pennsylvania
September 28, 2023

22

The Investment House Growth Fund

About Your Fund’s Expenses (Unaudited)

We believe it is important for you to understand the impact of costs on your investment. As a shareholder of the Fund, you incur ongoing costs, including management fees and other operating expenses. The following examples are intended to help you understand your ongoing costs (in dollars) of investing in the Fund and to compare these costs with the ongoing costs of investing in other mutual funds.

A mutual fund’s ongoing costs are expressed as a percentage of its average net assets. This figure is known as the expense ratio. The examples below are based on an investment of $1,000 made at the beginning of the period shown and held for the entire period (February 1, 2023 – July 31, 2023).

The table below illustrates the Fund’s ongoing costs in two ways:

Actual fund return – This section helps you to estimate the actual expenses that you paid over the period. The “Ending Account Value” shown is derived from the Fund’s actual return, and the third column shows the dollar amount of operating expenses that would have been paid by an investor who started with $1,000 in the Fund. You may use the information here, together with the amount you invested, to estimate the expenses that you paid over the period.

To do so, simply divide your account value by $1,000 (for example, an $8,600 account value divided by $1,000 = 8.6), then multiply the result by the number given for the Fund under the heading “Expenses Paid During Period.”

Hypothetical 5% return – This section is intended to help you compare the Fund’s ongoing costs with those of other mutual funds. It assumes that the Fund had an annual return of 5% before expenses during the period shown, but that the expense ratio is unchanged. In this case, because the return used is not the Fund’s actual return, the results do not apply to your investment. The example is useful in making comparisons because the U.S. Securities and Exchange Commission (the “SEC”) requires all mutual funds to calculate expenses based on a 5% return before expenses. You can assess the Fund’s ongoing costs by comparing this hypothetical example with the hypothetical examples that appear in shareholder reports of other funds.

Note that expenses shown in the table are meant to highlight and help you compare ongoing costs only. The Fund does not impose any sales loads or redemption fees.

The calculations assume no shares were bought or sold during the period. Your actual costs may have been higher or lower, depending on the amount of your investment and the timing of any purchases or redemptions.

23

The Investment House Growth Fund

About Your Fund’s Expenses (Unaudited) (Continued)

More information about the Fund’s expenses, including annual expense ratios for the most recent five fiscal years, can be found in this report. For additional information on operating expenses and other shareholder costs, please refer to the Fund’s prospectus.

	Beginning	Ending
	Account Value	Account Value	Expenses Paid
	February 1, 2023	July 31, 2023	During Period*
Based on Actual Fund Return	$1,000.00	$1,285.40	$8.05
Based on Hypothetical 5% Return (before expenses)	$1,000.00	$1,017.75	$7.10

* Expenses are equal to the Fund’s annualized expense ratio of 1.42% for the period, multiplied by the average account value over the period, multiplied by 181/365 (to reflect the one-half year period).

Other Information (Unaudited)

A description of the policies and procedures that the Fund uses to vote proxies relating to portfolio securities is available without charge upon request by calling toll-free 1-888-456-9518, or on the SEC’s website at www.sec.gov. Information regarding how the Fund voted proxies relating to portfolio securities during the most recent 12-month period ended June 30 is available without charge upon request by calling toll-free 1-888-456-9518, or on the SEC’s website at www.sec.gov.

The Trust files a complete listing of portfolio holdings of the Fund with the SEC as of the end of the first and third quarters of each fiscal year as an exhibit to its reports on Form N-PORT. The filings are available upon request by calling 1-888-456-9518. Furthermore, you may obtain a copy of the filings on the SEC’s website at www.sec.gov and on the Fund’s website www.tihllc.com.

24

The Investment House Growth Fund

Information Regarding Trustees and Officers

(Unaudited)

Overall responsibility for management of the Fund rests with the Board of Trustees. The Trustees serve during the lifetime of the Trust and until its termination, or until death, resignation, retirement or removal. The Trustees, in turn, elect the officers of the Trust to actively supervise its day-to-day operations. The officers have been elected for an annual term.

The following table provides information regarding each Trustee who is not an “interested person” of the Trust, as defined in the Investment Company Act of 1940.

Name, Address and Age	Position(s) Held with Trust	Length of Time Served
Darrin F. DelConte	Trustee	Since December 2001
5940 S. Rainbow Blvd, Suite 400
PMB 57150
Las Vegas, NV 89118
Year of Birth: 1966
	Number of Portfolios in Fund	Other Directorships
Principal Occupations During Past 5 Years	Complex Overseen by Trustee	Held by Trustee
Darrin F. DelConte is Executive Vice President	1	None
of Pacific Crane Maintenance Co. (marine
maintenance company), since 1994.
Name, Address and Age	Position(s) Held with Trust	Length of Time Served
Nicholas G. Tonsich	Trustee	Since December 2001
5940 S. Rainbow Blvd, Suite 400
PMB 57150
Las Vegas, NV 89118
Year of Birth: 1961
	Number of Portfolios in Fund	Other Directorships
Principal Occupations During Past 5 Years	Complex Overseen by Trustee	Held by Trustee
Nicholas G. Tonsich is an attorney. Mr. Tonsich	1	None
is President of Ocean Terminal Services, Inc.
(equipment maintenance company), since 2008
and Clean Air Engineering-Maritime, Inc. (an
environmental services company for the shipping
industry), since 2009.
Name, Address and Age	Position(s) Held with Trust	Length of Time Served
Michael A. Zupanovich	Trustee	Since June 2015
5940 S. Rainbow Blvd, Suite 400
PMB 57150
Las Vegas, NV 89118
Year of Birth: 1965
	Number of Portfolios in Fund	Other Directorships
Principal Occupations During Past 5 Years	Complex Overseen by Trustee	Held by Trustee
Michael A. Zupanovich is President of Harbor	1	None
Diesel & Equipment, Inc. (heavy equipment repair
company), since 1993.

25

The Investment House Growth Fund

Information Regarding Trustees and Officers

(Unaudited) (Continued)

The following table provides information regarding each Trustee who is an “interested person” of the Trust, as defined in the Investment Company Act of 1940, and each executive officer of the Trust.

Name, Address and Age	Position(s) Held with Trust	Length of Time Served
Timothy J. Wahl1	President and Trustee	Since October 2001
5940 S. Rainbow Blvd, Suite 400
PMB 57150
Las Vegas, NV 89118
Year of Birth: 1965
	Number of Portfolios in Fund	Other Directorships
Principal Occupations During Past 5 Years	Complex Overseen by Trustee	Held by Trustee
Timothy J. Wahl is President of The Investment	1	None
House LLC since 2012.
Name, Address and Age	Position(s) Held with Trust	Length of Time Served
David L. Kahn	Chief Compliance Officer;	Since September 2004
5940 S. Rainbow Blvd, Suite 400	Secretary	Since October 2001
PMB 57150
Las Vegas, NV 89118
Year of Birth: 1957
Principal Occupations During Past 5 Years
David L. Kahn is Chief Compliance Officer of The Investment House LLC, since 2012.

Name, Address and Age	Position(s) Held with Trust	Length of Time Served
Stacey A. Havens	Vice President	Since March 2023
225 Pictoria Drive, Suite 450
Cincinnati, OH 45246
Year of Birth: 1965
Principal Occupations During Past 5 Years
Stacey A. Havens is Vice President, Relationships Management of Ultimus Fund Solutions, LLC, since 2016.

Name, Address and Age	Position(s) Held with Trust	Length of Time Served
Brian J. Lutes	Treasurer	Since January 2015
225 Pictoria Drive, Suite 450
Cincinnati, OH 45246
Year of Birth: 1975
Principal Occupations During Past 5 Years
Brian J. Lutes is Senior Vice President, Fund Accounting of Ultimus Fund Solutions, LLC, since 2005.

¹ Mr. Wahl is an “interested person” of the Trust because he is an owner and officer of the Adviser.

Additional information about members of the Board of Trustees and the executive officers is available in the Statement of Additional Information (“SAI”). To obtain a free copy of the SAI, please call 1-888-456-9518.

26

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THE INVESTMENT HOUSE FUNDS

Investment Adviser

The Investment House LLC

5940 S. Rainbow Blvd, Suite 400

PMB 57150

Las Vegas, NV 89118

Administrator

Ultimus Fund Solutions, LLC

225 Pictoria Drive

Suite 450

Cincinnati, Ohio 45246

1.888.456.9518

Legal Counsel

Practus, LLP

11300 Tomahawk Creek Pkwy

Suite 310

Leawood, Kansas 66211

Custodian

U.S. Bank, N.A.

425 Walnut Street

Cincinnati, Ohio 45202

Board of Trustees

Darrin F. DelConte

Nicholas G. Tonsich

Timothy J. Wahl

Michael A. Zupanovich

Officers

Timothy J. Wahl, President

Stacey A. Havens, Vice President

David L. Kahn, CCO and Secretary

Brian J. Lutes, Treasurer

Investment House-AR-23

(b) Not applicable.

Item 2. Code of Ethics.

As of the end of the period covered by this report, the registrant has adopted a code of ethics that applies to the registrant’s principal executive officer, principal financial officer, principal accounting officer or controller, or persons performing similar functions, regardless of whether these individuals are employed by the registrant or a third party. Pursuant to Item 12(a)(1), a copy of registrant’s code of ethics is filed as an exhibit to this Form N-CSR. During the period covered by this report, the code of ethics has not been amended, and the registrant has not granted any waivers, including implicit waivers, from the provisions of the code of ethics.

Item 3. Audit Committee Financial Expert.

The registrant’s board of trustees has determined that the registrant does not have an audit committee financial expert serving on its audit committee. The audit committee determined that, although none of its members meet the technical definition of an audit committee financial expert, the members have sufficient financial expertise to address any issues that are likely to come before the committee. It was the consensus of the audit committee members that it is not necessary at the present time for the committee to seek to recruit an additional trustee who would qualify as an audit committee financial expert. It was the view of the committee that, if novel issues ever arise, the committee will consider hiring an expert to assist it as needed.

Item 4. Principal Accountant Fees and Services.

(a) Audit Fees. The aggregate fees billed for professional services rendered by the principal accountant for the audit of the registrant’s annual financial statements or for services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements were $13,500 and $13,250 with respect to the registrant’s fiscal years ended July 31, 2023 and 2022, respectively.

(b) Audit-Related Fees. No fees were billed in either of the last two fiscal years for assurance and related services by the principal accountant that are reasonably related to the performance of the audit of the registrant’s financial statements and are not reported under paragraph (a) of this Item.

(c) Tax Fees. The aggregate fees billed for professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning were $3,100 and $3,000 with respect to the registrant’s fiscal years ended July 31, 2023 and 2022, respectively. The services comprising these fees are the preparation of the registrant’s federal income and excise tax returns.

(d) All Other Fees. No fees were billed in either of the last two fiscal years for products and services provided by the principal accountant, other than the services reported in paragraphs (a) through (c) of this Item.

(e)(1) The audit committee has not adopted pre-approval policies and procedures described in paragraph (c)(7) of Rule 2-01 of Regulation S-X.

(e)(2) None of the services described in paragraph (b) through (d) of this Item were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X.

(f) Less than 50% of hours expended on the principal accountant’s engagement to audit the registrant’s financial statements for the most recent fiscal year were attributed to work performed by persons other than the principal accountant’s full-time, permanent employees.

(g) With respect to the fiscal years ended July 31, 2023 and 2022, aggregate non-audit fees of $3,100 and $3,000, respectively, were billed by the registrant’s principal accountant for services rendered to the registrant. No non-audit fees were billed in either of the last two fiscal years by the registrant’s principal accountant for services rendered to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the adviser that provides ongoing services to the registrant.

(h) The principal accountant has not provided any non-audit services to the registrant’s investment adviser (not including any sub-adviser whose role is primarily portfolio management and is subcontracted with or overseen by another investment adviser), and any entity controlling, controlled by, or under common control with the investment adviser that provides ongoing services to the registrant.

(i) Not applicable

(j)       Not applicable

Item 5. Audit Committee of Listed Registrants.

Not applicable

Item 6. Schedule of Investments.

(a) Not applicable [schedule filed with Item 1]

(b) Not applicable

Item 7. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.

Not applicable

Item 8. Portfolio Managers of Closed-End Management Investment Companies.

Not applicable

Item 9. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.

Not applicable

Item 10. Submission of Matters to a Vote of Security Holders.

The registrant has not adopted procedures by which shareholders may recommend nominees to the registrant’s board of trustees.

Item 11. Controls and Procedures.

(a) Based on their evaluation of the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) as of a date within 90 days of the filing date of this report, the registrant’s principal executive officer and principal financial officer have concluded that such disclosure controls and procedures are reasonably designed and are operating effectively to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to them by others within those entities, particularly during the period in which this report is being prepared, and that the information required in filings on Form N-CSR is recorded, processed, summarized, and reported on a timely basis.

(b) There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.

Item 12. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies.

Not applicable.

Item 13. Exhibits.

File the exhibits listed below as part of this Form. Letter or number the exhibits in the sequence indicated.

(a)(1) Any code of ethics, or amendment thereto, that is the subject of the disclosure required by Item 2, to the extent that the registrant intends to satisfy the Item 2 requirements through filing of an exhibit: Attached hereto

(a)(2) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Act (17 CFR 270.30a-2(a)): Attached hereto

(1) Not applicable

(2) Change in the registrant’s independent public accountants: Not applicable.

(b) Certifications required by Rule 30a-2(b) under the Act (17 CFR 270.30a-2(b)): Attached hereto

Exhibit 99.CODE ETH Code of Ethics

Exhibit 99.CERT Certifications required by Rule 30a-2(a) under the Act

Exhibit 99.906CERT Certifications required by Rule 30a-2(b) under the Act

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934 and 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)	The Investment House Funds
By (Signature and Title)*		/s/ Timothy J. Wahl
		Timothy J. Wahl, President
Date	October 4, 2023
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)*		/s/ Timothy J. Wahl
		Timothy J. Wahl, President
Date	October 4, 2023
By (Signature and Title)*		/s/ Brian J. Lutes
		Brian J. Lutes, Treasurer
Date	October 4, 2023

^* Print the name and title of each signing officer under his or her signature.