Schedule of Investments
September 30, 2022 (unaudited)
AmericaFirst Income Fund
		Shares or Principal
Security Description		Amount ($)		Fair Value ($)(1)
Common Stocks - 58.85%
Accident & Health Insurance - 1.41%
Principal Financial Group, Inc.		3,345		241,342
Biological Products (No Diagnostic Substances) - 1.39%
Gilead Sciences, Inc.		3,865		238,432
Canned, Frozen & Preserved Fruit, Veg & Food Specialties - 1.30%
The Kraft Heinz Co. (2)		6,614		220,577
Computer & Office Equipment - 3.92%
Hewlett Packard Enterprise Co.		18,668		223,643
HP Inc.		8,860		220,791
International Business Machines Corp. (2)		1,871		222,293
				666,727
Computer Communications Equipment - 1.28%
Cisco Systems, Inc.		5,426		217,040
Crude Petroleum & Natural Gas - 3.85%
Coterra Energy, Inc.		8,219		214,680
Devon Energy Corporation		3,696		222,240
Pioneer Natural Resources Company		1,006		217,829
				654,749
Electric Services - 1.36%
NRG Energy, Inc.		6,056		231,763
Entertainment - 1.12%
Paramount Global Class A		8,837		190,349
Food & Kindred Products - 1.39%
Conagra Brands, Inc.  (2)		7,251		236,600
Games, Toys & Children's Vehicles (No Dolls & Bicycles) - 1.24%
Hasbro, Inc. (2)		3,122		210,485
Industrial Organic Chemicals - 1.35%
LyondellBasell Industries NV Class A		3,042		229,002
Investment Advice - 1.21%
Franklin Resources, Inc.		9,553		205,581
Life Insurance - 1.32%
Prudential Financial, Inc.  (2)		2,626		225,258
Men's & Boys' Furnishings, Work Clothing & Allied Garments - 1.06%
V.F. Corporation		6,028		180,297
Miscellaneous Manufacturing Industries - 1.30%
Amcor PLC		20,674		221,832
Motor Vehicles & Passenger Car Bodies - 1.09%
Ford Motor Co.		16,626		186,211
National Commercial Banks - 1.46%
Huntington Bancshares Incorporated		18,825		248,114
National Gas Transmission - 3.96%
Kinder Morgan, Inc. (2)		13,748		228,767
The Williams Cos., Inc.		7,432		212,778
Truist Financial Corp.		5,321		231,676
				673,221
Natural Gas Transmission & Distribution - 1.26%
ONEOK, Inc.		4,176		213,978
Paperboard Containers & Boxes - 1.20%
Packaging Corporation		1,818		204,143
Paper Mills - 1.05%
International Paper Co. (2)		5,631		178,503
Petroleum Refining - 6.71%
Chevron Corp.		1,457		209,327
ConocoPhillips		2,324		237,838
Exxon Mobil Corp.		2,517		219,759
Phillips 66 (2)		2,908		234,734
Valero Energy Corp.		2,240		239,344
				1,141,002
Pharmaceutical Preparations - 5.78%
AbbVie, Inc.		1,805		242,249
Bristol-Myers Squibb Co. (2)		3,628		257,914
Merck & Co., Inc.		2,864		246,648
Pfizer, Inc. (2)		5,393		235,998
				982,809
Plastics, Materials, Synth Resins & Nonvulvan Elastomers - 1.29%
Dow, Inc.		4,991		219,255
Semiconductors & Related Devices - 1.19%
Intel Corp. (2)		7,877		202,990
Services-Advertising Agencies - 2.75%
Omnicom Group, Inc.		3,734		235,578
The Interpublic Group of Cos., Inc.		9,076		232,346
				467,924
Specialty Cleaning, Polishing & Sanitation Preparations - 1.29%
Clorox Co. (2)		1,711		219,675
State Commercial Banks - 1.32%
Northern Trust Corp.		2,626		224,681
Surgical & Medical Instruments & Apparatus - 1.27%
3M Co.		1,963		216,912
Telephone Communications (No Radio Telephone) - 1.27%
AT&T Inc.		14,046		215,466
Wholesale-Hardware & Plumbing & Heating Equipment & Supplies - 1.46%
Watsco Inc. Class B		904		248,220
Total Common Stock		(Cost $           11,235,843)		10,013,138
Real Estate Investment Trusts - 6.67%
AvalonBay Communities, Inc.		1,239		228,211
Euity Residential  (2)		3,404		228,817
Regency Centers Corporation		4,103		220,947
UDR, Inc.		5,545		231,282
VICI Properties, Inc.		7,551		225,397
Total Real Estate Investment Trusts		(Cost $             1,257,709)		1,134,654
Exchange Traded Funds - 30.27%
Invesco Bulletshares 2023 Corporate Bond ETF (2) (4)		84,032		1,753,748
iShares 0-5 Year TIPS Bond ETF (2) (4)		17,778		1,708,644
iShares 7-10 Year Treasury Bond ETF (4)		17,586		1,688,080
Total Exchange Traded Funds		(Cost $             5,341,024)		5,150,472
Money Market Registered Investment Companies - 4.43%
Federated Hermes Institutional Prime Obligations Fund - Institutional Class, 0.02% (3)		753,312		753,312
Total Money Market Registered Investment Companies		(Cost $                753,312)		753,312
Total Investments - 100.22%		(Cost $           18,587,888)		17,051,576
Liabilities in Excess of Other Assets - -.22%				(38,113)
Total Net Assets - 100.00%				17,013,463
(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 September 30, 2022 in valuing the Fund's assets carried at fair value:
		Investments in		Other Financial
Valuation Inputs		Securities		Instruments (9)
Level 1 - Quoted Prices	$	17,051,576	$	-
Level 2 - Other Significant Observable Inputs		0		-
Level 3 - Significant Unobservable Inputs		-		-
Total	$	17,051,576	$	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 September 30, 2022.
(4)  Exchange-traded fund.