Americafirst Quantitative Funds NPORT-P AmericaFirst Income Fund (Sep 2023 report)

Schedule of Investments
September 30, 2023 (unaudited)
AmericaFirst Income Growth Fund
		Shares or Principal
Security Description		Amount ($)		Fair Value ($)(1)
Common Stocks - 68.98%
Air Freight & Logistics - 1.27%
United Parcel Service		1,641		255,783
Banks - 3.05%
Comerica, Inc.		2,439		101,340
Fifth Third Bancorp		8,898		225,386
U.S. Bancorp		8,665		286,465
				613,192
Biotechnology - 4.60%
AbbVie, Inc.		1,976		294,543
Amgen, Inc.		1,296		348,313
Gilead Sciences, Inc.		3,775		282,899
				925,754
Capital Markets - 7.58%
Franklin Resources, Inc.		11,745		288,692
PennantPark Floating Rate Capital Ltd.		50,200		535,132
T. Rowe Price Group, Inc.		2,818		295,524
The Bank of New York Mellon Corporation		7,000		298,550
The Blackstone Group, Inc. (2)		1,000		107,140
				1,525,038
Containers & Packaging - 3.00%
Amcor PLC		27,934		255,875
Packaging Corporation of America		2,257		346,562
				602,438
Diversified Telecommunication - 1.20%
Verizon Communications, Inc. (2)		7,471		242,135
Electric & Other Services Combined - 7.34%
Duke Energy Corp.		3,527		311,293
Edison International		4,770		301,893
Exelon Corp.		7,517		284,067
FirstEnergy Corp		8,503		290,633
PPL Corp.		12,213		287,738
				1,475,625
				1,475,625
Finance Services - 1.61%
Fidelity National Information Services Inc.		5,846		323,108
Food Products - 1.52%
Cal-Maine Foods Inc.		6,300		305,046
Health Care Equipment & Supplies - 1.33%
Medtronic PLC		3410		267,208
Health Care Providers & Services - 0.69%
CVS Health Corp.		2,000		139,640
Household Durables - 1.38%
M.D.C. Holdings Inc.		6,750		278,303
Household Products - 1.40%
Kimberly-Clark Corp.		2,334		282,064
Insurance - 4.97%
Lincoln National Corp.		14,187		350,277
MetLife, Inc.		5,425		341,287
Principal Financial Group, Inc.		4,286		308,892
				1,000,456
IT Services - 1.67%
International Business Machines Corp.		2,390		335,317
Machinery - 1.65%
Stanley Black & Decker Inc.		3,978		332,481
Metals & Mining - 2.71%
B2gold Corp		77,800		224,842
Newmont Corp.		8,679		320,689
				545,531
Multi-Utilities - 1.55%
Public Service Enterprise Group Inc.		5,465		311,013
Oil, Gas & Consumable Fuels - 7.21%
Chevron Corp.		1,965		331,338
Devon Energy Corporation		8,654		412,796
Exxon Mobil Corp.		2,886		339,336
Phillips 66		3,052		366,698
				1,450,168
				1,450,168
Pharmaceuticals - 0.98%
Organon & Co.		11,366		197,314
Semiconductors - 1.48%
Himax Technologies, Inc.		50,968		297,653
Semiconductors & Related Devices - 1.65%
Broadcom, Inc.		4,809		331,340
Specialty Retail - 3.16%		765		635,394
Best Buy Co., Inc.
Surgical & Medical Instruments & Apparatus - 1.40%		4,042		280,798
3M Co.
Technology Hardware & Equipment - 2.04%
Dell Technologies Inc. (2)		3,019		282,639
HP, Inc.		5,000		128,500
				411,139
Tobacco - 2.53%
Altria Group, Inc.		6,995		294,140
British American Tobacco Industries PLC		6,850		215,159
				509,298
Total Common Stock		(Cost $           14,650,203)		13,873,234
Real Estate Investment Trusts - 12.87%
Annaly Capital Management		16,723		314,560
Arbor Realty Trust, Inc.		24,970		379,045
AvalonBay Communities, Inc.		1,874		321,841
Equinix, Inc.		400		290,504
Equity Residential		5,256		308,580
Healthcare Realty Trust Incorporated		16,008		244,442
Safehold, Inc.		7,119		126,718
UDR, Inc.		7,669		273,553
VICI Properties Inc.		11,320		329,412
Total Real Estate Investment Trusts		(Cost $             2,807,371)		2,588,654
Exchange Traded Funds - 8.49%
Global X Nasdaq 100 Covered Call ETF (4)		30,398		509,774
Global X Russell 2000 Covered Call ETF (4)		28,763		490,697
iShares Treasury Floating Rate Bond ETF (4)		10,000		507,400
ProShares Bitcoin Strategy ETF (4)		14,500		200,245
Total Exchange Traded Funds		(Cost $             1,803,858)		1,708,116
Money Market Registered Investment Companies - 10.45%
Federated Hermes Institutional Prime Obligations Fund - Institutional Class, 5.43% (3)		2,101,822		2,101,822
Total Money Market Registered Investment Companies		(Cost $             2,101,822)		2,101,822
Total Investments - 100.80%		(Cost $           21,363,254)		20,271,826
Liabilities in Excess of Other Assets - -0.80%				(160,760)
Total Net Assets - 100.00%				20,111,067
(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 September 30, 2023 in valuing the Fund's assets carried at fair value:
		Investments in		Other Financial
Valuation Inputs		Securities		Instruments (9)
Level 1 - Quoted Prices	$	20,271,826	$	-
Level 2 - Other Significant Observable Inputs		0		-
Level 3 - Significant Unobservable Inputs		-		-
Total	$	20,271,826	$	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.
(3)  Investment in affiliate. The yield shown represents the 7-day yield in effect at September 30, 2023.
(4)  Exchange-traded fund.