Schedule of Investments | |||||||
March 31, 2024 (unaudited) | |||||||
AmericaFirst Risk-On Risk-Off 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 - 92.01% | |||||||
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Aerospace and Defense - 1.16% |
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RTX Corp. |
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| 598 |
| 58,323 |
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Aluminum - 2.56% |
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Alcoa Corp. |
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| 3,822 |
| 129,145 |
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Banks - 6.04% |
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Nu Holdings Ltd. (2) |
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| 25,551 |
| 304,823 | |
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Biological Products - 2.59% |
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Coherus BioSciences, Inc. |
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| 54,805 |
| 130,984 | ||
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Biotechnology - 22.37% |
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Aldeyra Therapeutics, Inc. |
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| 12,000 |
| 39,240 | ||
Gritstone Bio, Inc. |
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| 119,643 |
| 307,483 | |
Monte Rosa Therapeutics, Inc. |
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| 43,715 |
| 308,191 | ||
Omega Therapeutics, Inc. |
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| 43,045 |
| 157,114 | |
TG Therapeutics, Inc. |
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| 20,845 |
| 317,052 | |
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| 1,129,080 |
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Gambling - 4.09% |
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DraftKings, Inc. |
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| 4,545 |
| 206,388 | |
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IT Services - 1.95% |
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International Business Machines Corp. |
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| 515 |
| 98,344 | ||
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Interactive Media Services - 4.15% |
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Alphabet, Inc. Class A |
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| 369 |
| 55,693 | |
Meta Platforms Inc. Class A |
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| 317 |
| 153,929 | ||
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| 209,622 |
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Internet Content & Information - 1.70% |
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Reddit, Inc. |
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| 1,735 |
| 85,570 |
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Internet Retail - 2.85% |
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Alibaba Group Holding Ltd. ADS |
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| 1,987 |
| 143,779 | ||
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Pharmaceuticals - 10.45% |
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Eli Lilly & Co. |
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| 348 |
| 270,730 | |
Novo Nordisk A/S |
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| 2,000 |
| 256,800 | |
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| 527,530 |
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Retail Catalog & Mail-Order Houses - 3.34% |
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Amazon.com, Inc. (2) |
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| 936 |
| 168,836 | |
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Semiconductors - 4.47% |
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NVIDIA Corp. |
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| 250 |
| 225,890 | |
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Semiconductors & Related Devices - 7.39% |
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Atomera, Inc. |
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| 5,037 |
| 31,028 |
Broadcom, Inc. |
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| 85 |
| 112,660 | |
Micron Technology, Inc. |
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| 1,947 |
| 229,532 | |
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| 373,220 |
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Services-Computer Processing & Data Preparation - 1.99% |
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Kyndryl Holdings, Inc. |
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| 4,614 |
| 100,401 | |
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Services-Prepackaged Software - 3.50% |
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Adobe, Inc. (2) |
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| 350 |
| 176,610 | |
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Software- 11.42% |
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CrowdStrike Holdings, Inc. |
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| 365 |
| 117,015 | ||
Microsoft Corp. |
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| 447 |
| 188,062 | |
Oracle Corp. |
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| 1,380 |
| 173,342 |
Palantir Technologies, Inc. |
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| 4,257 |
| 97,954 | ||
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| 576,373 |
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Total Common Stock |
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| (Cost $ 3,850,597) |
| 4,644,918 | |
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Money Market Registered Companies - 10.36% | |||||||
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Federated Hermes Institutional Prime Obligations Fund - Institutional Class, 5.37% (4) |
| 522,969 |
| 522,969 | |||
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Total Money Market Registered Investment Companies |
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| (Cost $ 522,969) |
| 522,969 | ||
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Total Investments - 102.37% | (Cost $ 4,305,771) |
| 5,167,887 | ||||
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Liabilities in Excess of Other Assets - -2.37% |
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| (119,782) | ||||
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Total Net Assets - 100.00% |
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| 5,048,105 | ||||
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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 (9) | |
Level 1 - Quoted Prices |
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| $ | 5,167,887 | $ | 0 | |
Level 2 - Other Significant Observable Inputs |
| $ | 0 | $ | 0 | ||
Level 3 - Significant Unobservable Inputs |
| $ | 0 | $ | 0 | ||
Total |
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| $ | 5,167,887 | $ | 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) Variable rate security; the rate shown represents the yield at March 28, 2024. |