Principal

Fair

Amount

Value

MUNICIPAL BONDS (92.4%)^

General Obligation (28.4%)

CITY OF AUBURN ME 4.000% 09/01/2049 CALLABLE @ 100.000 09/01/2034

215,000

$

193,326

TOWN OF BAR HARBOR ME 5.000% 09/01/2049 CALLABLE @ 100.000 09/01/2034

250,000

263,090

CITY OF BATH ME 4.000% 05/01/2044 CALLABLE @ 100.000 05/01/2034

300,000

297,702

TOWN OF GORHAM ME 4.000% 09/01/2040 CALLABLE @ 100.000 09/01/2033

265,000

273,321

CITY OF LEWISTON ME 4.000% 03/15/2037 CALLABLE @ 100.000 03/15/2031

260,000

267,667

MAINE SCHOOL ADMINISTRATIVE DISTRICT NO 51 4.000% 10/15/2029

100,000

100,032

MAINE SCHOOL ADMINISTRATIVE DISTRICT NO 28 4.000% 05/01/2036 CALLABLE @ 100.000 05/01/2028

300,000

304,212

TOWN OF YORK ME 4.000% 10/01/2043 CALLABLE @ 100.000 10/01/2034

140,000

142,054

1,841,404

Health Care (19.8%)

MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 4.500% 07/01/2031

5,000

4,969

MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 4.000% 07/01/2045 CALLABLE @ 100.000 07/01/2030

250,000

238,885

MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 5.250% 07/01/2048 CALLABLE @ 100.000 07/01/2033

1,000,000

1,039,550

1,283,404

Housing (20.1%)

MAINE STATE HOUSING AUTHORITY 4.950% 11/15/2048 CALLABLE @ 100.000 05/15/2033

800,000

802,712

MAINE STATE HOUSING AUTHORITY 4.450% 11/15/2044 CALLABLE @ 100.000 05/15/2033

500,000

502,270

1,304,982

Other Revenue (20.2%)

CITY OF AUGUSTA ME 5.000% 10/01/2043 CALLABLE @ 100.000 10/01/2033

700,000

747,103

MAINE HEALTH & HIGHER EDUCATIONAL FACILITIES AUTHORITY 5.000% 07/01/2043 CALLABLE @ 100.000 07/01/2033

275,000

289,143

MAINE MUNICIPAL BOND BANK 5.000% 11/01/2042 CALLABLE @ 100.000 11/01/2035

250,000

274,678

1,310,924

Transportation (3.9%)

CITY OF PORTLAND ME GENERAL AIRPORT REVENUE 4.000% 01/01/2040 CALLABLE @ 100.000 01/01/2030

250,000

251,345

251,345

TOTAL MUNICIPAL BONDS (COST: $5,938,375)

$

5,992,059

OTHER ASSETS LESS LIABILITIES (7.6%)

$

489,668

NET ASSETS (100.0%)

$

6,481,727

^All portfolio securities are issued securities from the state of Maine.

The accompanying notes are an integral part of these financial statements.

NOTE: INVESTMENT IN SECURITIES (unaudited)

At April 30, 2026, the net unrealized appreciation/(depreciation) based on the cost of investments for federal income tax purposes was as follows:

Maine Municipal Fund

Investments at cost

$

5,938,375

Unrealized appreciation

$

94,375

Unrealized depreciation

(40,691)

Net unrealized appreciation/(depreciation)*

$

33,684

*Differences between financial reporting-basis and tax-basis unrealized appreciation/(depreciation) are due to differing treatment of wash sales and market discount.

NOTE: FAIR VALUE MEASUREMENTS (unaudited)

Various inputs are used in determining the value of the Funds’ investments. These inputs are summarized in three broad levels: Level 1 inputs are based on quoted prices in active markets for identical securities. Level 2 inputs are based on significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc). Level 3 inputs are based on 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 to value the Funds’ investments as of April 30, 2026:

Maine Municipal Fund

Level 1

Level 2

Level 3

Total

Municipal Bonds

$

-

$

5,992,059

$

-

$

5,992,059

Total

$

-

$

5,992,059

$

-

$

5,992,059