Americafirst Quantitative Funds NPORT-P AmericaFirst Monthly Risk-On Risk-Off Fund (Mar 2024 report)

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