California First Leasing Corporation

Statement of Investments

As of March 31, 2024

Industry-- Percent of Net Assets	Company	Shares		Market Value
Common Stocks-- 88.37%
Auto & Truck Dealerships-- 1.21%	Lithia Mtrs Inc		9,779	$	2,942,110
Auto Parts-- 1.41%	Allison Transmission		42,290		3,432,256
Banks - Diversified-- 4.73%	Wells Fargo & Co		106,400		6,166,944
	JP Morgan Chase & Co		4,380		877,314
	Bank of America Corporation		117,500		4,455,600
					11,499,858
Capital Markets-- 3.99%	Goldman Sachs		23,200		9,690,408
Credit Services-- 1.58%	Credit Acceptance Corporation (1)		1,220		672,891
	PayPal Holdings Inc (1)		47,100		3,155,229
					3,828,120
Drug Manufacturers-- 2.96%	Bristol Myers Squibb		132,800		7,201,744
Entertainment-- 0.66%	Netflix.com Inc. (1)		2,650		1,609,425
Footwear & Accessories-- 1.47%	On Holding AG (1)		101,100		3,576,918
Healthcare Plans-- 5.10%	Cigna Corp New		30,710		11,153,565
	United Health Group		2,489		1,231,308
					12,384,873
Insurance - Diversified-- 0.58%	Berkshire Hathaway Inc (1)		3,364		1,414,629
Insurance - Reinsurance-- 1.27%	Everest Group LTD		7,740		3,076,650
Internet Content & Info-- 10.33%	Alphabet Inc. (1)		105,100		15,862,743
	Match Group Inc (1)		68,500		2,485,180
	Meta Platforms Inc		13,907		6,752,961
					25,100,884
Internet Retail-- 0.15%	Alibaba Grp Hldg		4,900		354,564
Oil & Gas E & P-- 3.42%	Ovintiv Inc.		159,925		8,300,108
Oil & Gas Equip & Services-- 2.91%	Schlumberger LTD		129,000		7,070,490
Oil & Gas Integrated-- 7.69%	Exxon Mobil		160,800		18,691,392
Scientific & Technical Instruments-- 0.75%	Sensata Technologies		49,350		1,813,119
Semiconductor Equip & Materials-- 9.54%	Applied Materials		102,000		21,035,460
	Teradyne Incorporated		19,000		2,143,770
					23,179,230
Semiconductors-- 15.95%	Advanced Micro Devices Inc. (1)		37,100		6,696,179
	Marvell Technology Inc		123,000		8,718,240
	Micron Technology Inc		81,300		9,584,457
	Qualcomm Inc		58,650		9,929,445
	Taiwan Semiconductor Co		28,250		3,843,413
					38,771,734
Specialty Business Services-- 1.96%	Global Payments Inc.		35,650		4,764,979
Specialty Chemicals-- 2.58%	Dupont De Nemours		53,940		4,135,580
	Intl Flavors & Fragrance		24,750		2,128,253
					6,263,832
Steel-- 2.24%	Cleveland-Cliffs Inc. (1)		239,000		5,434,860
Telecom Services-- 4.51%	Charter Communications Inc (1)		12,640		3,673,563
	Verizon Communications		173,750		7,290,550
					10,964,113
Thermal Coal-- 0.73%	Consol Energy Inc		21,300		1,784,088
Tobacco-- 0.66%	British American Tobacco		52,500		1,601,250
	Total-Equity Securities			$	214,751,634
Short-term Investments-- 12.81%
Bank Deposit-- 0.11%	Liberty Bank, N.A.			$	276,234
U.S. Treasuries-- 1.81%	U.S. Treasury Bills (5.33%)*				4,397,442
Money Market Mutual Funds-- 10.88%	JP Morgan Prim MMkt (5.39%)**				11,051,743
	State Street Inst Liquid Rsrvs (5.41%)**				14,712,757
	Goldman FSQ Money Market (5.23%)**				682,433
	Total Short-term Investments			$	31,120,609
Total Equity Securities & Short-term Investments-- 101.18%				$	245,872,242
Net Assets at March 31, 2024				$	243,013,723

(1) Non-income producing security

* Weighted average yield to maturity for bill maturing on 04/04/24

** Rate is the annualized seven-day yield of the fund at period end.