MAINE MUNICIPAL FUND
Schedule of Investments April 30, 2023 (unaudited)
	Principal		Fair
	Amount		Value
MUNICIPAL BONDS (89.8%)
Education (9.5%)
*Maine Health & Higher Educational Facilities Authority 5.000% 07/01/2026	940,000	$	997,537
General Obligation (22.9%)
City of Biddeford ME 4.000% 10/01/2026	250,000		263,855
Town of Brunswick ME 2.500% 11/01/2041 Callable @ 100.000 11/01/2030	500,000		395,520
City of Lewiston ME 2.750% 03/15/2038 Callable @ 100.000 03/15/2027	100,000		85,821
City of Lewiston ME 2.750% 03/15/2039 Callable @ 100.000 03/15/2027	250,000		214,715
City of Lewiston ME 2.750% 03/15/2040 Callable @ 100.000 03/15/2027	250,000		210,760
Regional School Unit No 26 3.000% 09/01/2044 Callable @ 100.000 09/01/2029	475,000		382,019
Maine School Administrative District No 51 4.000% 10/15/2029 Callable @ 100.000 10/15/2024	100,000		102,687
*Maine School Administrative District No 28 4.000% 05/01/2036 Callable @ 100.000 05/01/2028	500,000		518,575
City of Waterville ME 4.000% 07/01/2025	135,000		134,626
Wells Ogunquit Community School District 4.000% 11/01/2024	100,000		101,261
			2,409,839
Health Care (2.4%)
Maine Health & Higher Educational Facilities Authority 4.500% 07/01/2031	5,000		5,003
Maine Health & Higher Educational Facilities Authority 5.250% 07/01/2023	40,000		39,891
Maine Health & Higher Educational Facilities Authority 3.000% 07/01/2039 Callable @ 100.000 07/01/2029	250,000		209,990
			254,884
Housing (8.4%)
Maine State Housing Authority 3.000% 11/15/2036 Callable @ 100.000 11/15/2025	400,000		365,228
Maine State Housing Authority 3.350% 11/15/2044 Callable @ 100.000 05/15/2028	155,000		128,683
Maine State Housing Authority 2.500% 11/15/2045 Callable @ 100.000 11/15/2028	165,000		122,324
Maine State Housing Authority 2.250% 11/15/2045 Callable @ 100.000 05/15/2029	250,000		160,093
Maine State Housing Authority 5.000% 06/15/2037 Callable @ 100.000 06/15/2031	100,000		111,167
			887,495
Other Revenue (5.3%)
Maine Municipal Bond Bank 4.000% 11/01/2038	125,000		125,005
Maine Municipal Bond Bank 5.000% 11/01/2025	125,000		124,741
Maine Municipal Bond Bank 5.000% 11/01/2027 Callable @ 100.000 11/01/2024	100,000		104,033
Maine Municipal Bond Bank 3.000% 11/01/2040 Callable @ 100.000 11/01/2030	250,000		208,523
			562,302
Pre-Refunded (30.2%)
Maine Health & Higher Educational Facilities Authority 5.000% 07/01/2034 Callable @ 100.000 07/01/2024	250,000		255,120
Maine Health & Higher Educational Facilities Authority 5.000% 07/01/2039 Callable @ 100.000 07/01/2024	750,000		765,188
Maine Health & Higher Educational Facilities Authority 5.000% 07/01/2029 Callable @ 100.000 07/01/2024	1,000,000		1,020,720
Maine Health & Higher Educational Facilities Authority 5.000% 07/01/2030 Callable @ 100.000 07/01/2024	500,000		509,895
Maine Health & Higher Educational Facilities Authority 5.000% 07/01/2031 Callable @ 100.000 07/01/2024	500,000		510,535
Maine Health & Higher Educational Facilities Authority 5.000% 07/01/2023	15,000		15,054
Town of Scarborough ME 4.000% 11/01/2028 Callable @ 100.000 11/01/2023	100,000		100,435
			3,176,947
Transportation (6.7%)
Maine Turnpike Authority 4.000% 07/01/2032 Callable @ 100.000 07/01/2024	250,000		253,440
City of Portland ME General Airport Revenue 5.000% 07/01/2023	100,000		100,423
City of Portland ME General Airport Revenue 5.000% 07/01/2024 Callable @ 100.000 07/01/2023	100,000		100,455
City of Portland ME General Airport Revenue 4.000% 01/01/2040 Callable @ 100.000 01/01/2030	250,000		241,785
			696,103
Utilities (4.4%)
Portland Water District 3.000% 11/01/2039 Callable @ 100.000 11/01/2029	500,000		463,755
			463,755
TOTAL MUNICIPAL BONDS (COST: $10,074,761)		$	9,448,862
SHORT-TERM INVESTMENTS (9.2%)
(a) Morgan Stanley Inst'l Liquidity Fund, 4.99%	970,072		970,072
TOTAL SHORT-TERM INVESTMENTS (Cost $970,072)		$	970,072
TOTAL INVESTMENTS (Cost $11,044,833) (99.0%)			10,418,934
OTHER ASSETS LESS LIABILITIES (1.0%)		$	99,782
NET ASSETS (100.0%)		$	10,518,716
*Indicates bonds are segregated by the custodian to cover when-issued or delayed delivery purchases.
(a) Seven day yield as of April 30, 2023.

NOTE: INVESTMENT IN SECURITIES (unaudited)
At January 31, 2023, the net unrealized appreciation (depreciation) based on the cost of investments for federal income tax purposes was as follows:
	Maine Municipal Fund
Investments at cost	$11,044,833
Unrealized appreciation	18,134
Unrealized depreciation	(644,033)
Net unrealized appreciation (depreciation)*	($625,899)
*Differences between financial reporting-basis and tax-basis unrealized appreciation/(depreciation) are due to differing treatment of market discount.

NOTE: FAIR VALUE MEASUREMENTS (unaudited)
Various inputs are used in determining the value of the Funds' investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) Level 3 inputs are based on 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 to value the Funds’ investments as of January 31, 2023:
Maine Municipal Fund
	Level 1	Level 2	Level 3	Total
Municipal Bonds	$0	$9,448,862	$0	$9,448,862
Short-Term Investments	970,072	0	0	970,072
Total	$970,072	$9,448,862	$0	$10,418,934