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