Schedule of Investments | |||||||
March 31, 2020 (unaudited) | |||||||
AmericaFirst Risk-On 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 - 57.18% | |||||||
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Air Transportation, Scheduled - 0.13% |
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American Airlines Group, Inc. (2) | 80,929 |
| 23,469 | ||||
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Apparel & Other Finished Prods of Fabrics & Similar Material - 2.90% |
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Lululemon Athletica, Inc. (2) | 2,870 |
| 544,009 | ||||
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Beverages - 3.01% |
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Brown-Forman Corp. Class-B | 10,153 |
| 563,593 | ||||
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Electric Services - 2.83% |
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DTE Energy Co. | 5,583 |
| 530,218 | ||||
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Electronic Computers - 3.08% |
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Apple, Inc. (2) | 2,275 |
| 578,510 | ||||
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Fire, Marine & Casualty Insurance - 2.52% |
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American Financial Group, Inc. | 6,752 |
| 473,180 | ||||
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Industrial Instruments For Measurement, Display, And Control - 3.18% |
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Danaher Corp. | 4,307 |
| 596,132 | ||||
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Investment Advice - 2.43% |
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Ameriprise Financial, Inc. | 4,439 |
| 454,909 | ||||
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Miscellaneous Electrical Machinery, Equipment & Supplies - 1.57% |
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CAE, Inc. | 23,350 |
| 294,677 | ||||
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Motor Vehicle Parts & Accessories - 5.50% |
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Gentex Corp. (2) | 23,340 |
| 517,215 | ||||
Honeywell International, Inc. (2) | 3,842 |
| 514,021 | ||||
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| 1,031,236 | ||||
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Operative Builders - 2.13% |
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Horton DR, Inc. | 11,726 |
| 398,684 | ||||
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Orthopedic, Prosthetic & Surgical Appliances & Supplies - 2.65% |
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Align Technology, Inc. (2) | 2,854 |
| 496,453 | ||||
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Retail-Catalog & Mail-Order Houses - 2.72% |
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CDW Corp. | 5,461 |
| 509,347 | ||||
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Retail-Family Clothing Stores - 2.66% |
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Ross Stores, Inc. | 5,734 |
| 498,686 | ||||
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Security & Commodity Brokers, Dealers, Exchanges & Services - 2.75% |
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Price T. Rowe Group, Inc. | 5,288 |
| 516,373 | ||||
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Security Brokers, Dealers & Flotation Companies - 3.16% |
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BlackRock, Inc. | 1,347 |
| 592,640 | ||||
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Services-Computer Processing & Data Preparation - 2.93% |
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Automatic Data Processing, Inc. | 4,024 |
| 550,000 | ||||
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Service-Home Health Care Services - 3.44% |
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Chemed Corp. (2) | 1,490 |
| 645,468 | ||||
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Services-Prepackaged Software - 4.53% |
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Citrix Systems, Inc. | 5,997 |
| 848,875 | ||||
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Surgical & Medical Instruments & Appartus - 3.08% |
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ResMed, Inc. (2) | 3,917 |
| 576,935 | ||||
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Total Common Stocks | (Cost $ 13,778,188) |
| 10,723,394 | ||||
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Registered Investment Companies - 41.14% | |||||||
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iShares 7-10 Year Treasury Bond ETF (8) | 63,507 |
| 7,714,830 | ||||
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Total Registered Investment Companies | (Cost $ 7,475,317) |
| 7,714,830 | ||||
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Money Market Registered Investment Companies - 2.31% | |||||||
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Federated Institutional Prime Obligations Fund, 1.20% (5) | 434,201 |
| 433,897 | ||||
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Total Money Market Registered Investment Companies | (Cost $ 434,373) |
| 433,897 | ||||
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Total Investments - 100.64% | (Cost $ 21,687,878) |
| 18,872,121 | ||||
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Other Assets less Liabilities - 0.01% |
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| 2,038 | ||||
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Total Net Assets - 100.00% |
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| 18,752,927 | ||||
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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 31, 2020 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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| $ | 18,872,121 | $ | - | |
Level 2 - Other Significant Observable Inputs |
| - |
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Level 3 - Significant Unobservable Inputs |
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Total |
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| $ | 18,872,121 | $ | - |
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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. | |||||||
(3) All or a portion of this security is on loan. | |||||||
(4) Investment purchased with cash received as securities lending collateral. The yield shown represents the 7-day yield in effect at March 31, 2020. | |||||||
(5) Investment in affiliate. The yield shown represents the 7-day yield in effect at March 31, 2020. | |||||||
(6) Assets of affiliates to the Conservative Allocation Fund held for the benefit of the Fund's Trustees in connection with the Trustees Deferred Compensation Plan. | |||||||
(7) Fair valued security deemed as Level 3 security. | |||||||
(8) Exchange-traded fund. | |||||||
(9) Other financial instruments are derivative instruments not reflected in the Schedule of Investments, such as futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument. |
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NPORT-P Filing
Americafirst Quantitative Funds NPORT-PAmericaFirst Monthly Risk-On Risk-Off Fund (Mar 2020 report)
Filed: 29 May 20, 3:10pm