Schedule of Investments | |||||||
March 31, 2024 (unaudited) | |||||||
AmericaFirst Defensive Growth Fund | |||||||
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| Shares or Principal |
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Security Description |
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| Amount ($) |
| Fair Value ($)(1) | ||
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Common Stocks - 83.99% | |||||||
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Aerospace & Defense - 4.90% |
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RTX Corp. | 538 |
| 52,471 | ||||
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Beverages - 5.29% |
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PepsiCo, Inc. | 324 |
| 56,703 | ||||
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Biotechnology - 4.29% |
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Vertex Pharmaceuticals, Inc. (2) |
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| 110 |
| 45,981 | ||
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Consumer Staples Distribution - 5.54% |
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Costco Wholesale Corp. |
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| 81 |
| 59,343 | |
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Electric Services - 4.15% |
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The Southern Co. |
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| 619 |
| 44,407 | |
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Health Care Equipment and Supplies - 4.32% |
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Abbott Laboratories |
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| 407 |
| 46,260 | |
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Health Care Providers & Services - 4.96% |
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McKesson Corp. |
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| 99 |
| 53,148 | |
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Household Products - 4.42% |
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Clorox Co. |
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| 309 |
| 47,311 |
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IT Services - 4.90% |
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International Business Machines Corp. (2) |
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| 275 |
| 52,514 | ||
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Malt Beverages - 4.11% |
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Molson Coors Beverage Co. Class B |
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| 654 |
| 43,982 | ||
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Measuring & Controlling Devices, NEC - 4.56% |
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Thermo Fisher Scientific, Inc. |
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| 84 |
| 48,822 | ||
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Pharmaceutical Preparations - 1.80% |
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Viatris, Inc |
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| 1,615 |
| 19,283 |
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Pharmaceuticals - 17.74% |
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Eli Lilly & Co. |
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| 114 |
| 88,687 | |
Johnson & Johnson |
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| 283 |
| 44,767 | |
Novo Nordisk A/S |
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| 440 |
| 56,496 | |
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| 189,950 |
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Retail-Family Clothing Stores - 4.19% |
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The TJX Companies, Inc. |
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| 442 |
| 44,828 | |
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Service-Business Services, NEC - 8.83% |
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Booking Holdings, Inc. |
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| 13 |
| 47,162 | |
Visa, Inc. |
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| 170 |
| 47,444 |
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| 94,606 |
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Total Common Stock |
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| (Cost $ 750,411) |
| 899,609 | |
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Real Estate Investment Trusts - 4.01% | |||||||
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Ventas, Inc. |
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| 987 |
| 42,974 | |
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Total Real Estate Investment Trusts | (Cost $ 42,043) |
| 42,974 | ||||
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Money Market Registered Investment Companies - 11.49% | |||||||
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Federated Hermes Institutional Prime Obligations Fund - Institutional Class, 5.37% (4) | 123,088 |
| 123,088 | ||||
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Total Money Market Registered Investment Companies | (Cost $ 123,088) |
| 123,088 | ||||
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Total Investments - 99.50% | (Cost $ 915,542) |
| 1,065,671 | ||||
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Other Assets Less Liabilities - .50% |
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| 5,367 | ||||
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Total Net Assets - 100.00% |
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| 1,071,038 | ||||
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(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) | |||||||
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The following is a summary of the inputs used as of March 28, 2024 in valuing the Fund's assets carried at fair value: | |||||||
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| Investments in |
| Other Financial |
Valuation Inputs |
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| Securities |
| Instruments (3) | |
Level 1 - Quoted Prices |
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| $ | 1,065,671 | $ | - | |
Level 2 - Other Significant Observable Inputs |
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| - | ||
Level 3 - Significant Unobservable Inputs |
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Total |
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| $ | 1,065,671 | $ | 0 |
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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. | |||||||
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(2) Represents non-income producing securities. | |||||||
(4) Investment in affiliate. The yield shown represents the 7-day yield in effect at March 28, 2024. |