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        <fairValLevel>2</fairValLevel>
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        <name>OHIO ST WTR DEV AUTH</name>
        <lei>549300QMBH1DMY67FZ74</lei>
        <title>Ohio Water Development Authority Water Pollution  Control Loan Fund</title>
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          <isin value="US67766WXK34"/>
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        <balance>400000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2036-12-01</maturityDt>
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        <name>ALLEGHENY CNTY PA HIGHER ED BLDG AUTH</name>
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        <title>Allegheny County Higher Education Building Authority</title>
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          <isin value="US01728RES40"/>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <couponKind>Variable</couponKind>
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        <name>BOULDER LARIMER &amp; WELD CNTYS COLO ST VRAIN VY SCH DIST</name>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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        <name>CLARKSVILLE TENN PUB BLDG AUTH</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2029-06-01</maturityDt>
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        <name>HENNEPIN CNTY MINN</name>
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        <balance>1000000.00000000</balance>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2038-12-01</maturityDt>
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        <name>FORT BEND TEX INDPT SCH DIST</name>
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        <name>NEW YORK N Y CITY INDL DEV AGY</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FAIRFAX CNTY VA ECONOMIC DEV AUTH</name>
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        <name>JEA FLA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>FAIRFAX CNTY VA ECONOMIC DEV AUTH</name>
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        <fairValLevel>2</fairValLevel>
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        <name>IOWA FIN AUTH</name>
        <lei>549300NQVL49BTHOW391</lei>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2047-07-01</maturityDt>
          <couponKind>Variable</couponKind>
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        <name>DALLAS-FORT WORTH TEX INTL ARPT </name>
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        <name>UNIVERSITY N MEX</name>
        <lei>N/A</lei>
        <title>The University of New Mexico </title>
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        <name>PENNSYLVANIA ST TPK COMMN</name>
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        <name>OHIO ST UNIV</name>
        <lei>JFC10ZULKO4X2E3HBY86</lei>
        <title>Ohio State University/The </title>
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        <curCd>USD</curCd>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2039-12-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.99999850</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>MASSACHUSETTS ST WTR RES AUTH</name>
        <lei>549300GBS2G3YGHOYO19</lei>
        <title>Massachusetts Water Resources Authority </title>
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          <isin value="US5760494U17"/>
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        <valUSD>300000.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2037-08-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.10000120</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK N Y CITY TR</name>
        <lei>N/A</lei>
        <title>New York City Trust for Cultural Resources </title>
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          <isin value="US649717NQ45"/>
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        <valUSD>200000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2036-10-01</maturityDt>
          <couponKind>Variable</couponKind>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NEW YORK N Y</name>
        <lei>549300ABYZD2SFD5JB29</lei>
        <title>City of New York NY </title>
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        <valUSD>280000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
        <issuerCat>MUN</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2046-10-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.28000095</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>NEW YORK ST ENERGY RESH &amp; DEV AUTH</name>
        <lei>N/A</lei>
        <title>New York State Energy Research &amp; Development Authority</title>
        <cusip>64984EDH5</cusip>
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          <isin value="US64984EDH53"/>
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        <balance>300000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>300000.00000000</valUSD>
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        <assetCat>DBT</assetCat>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2039-05-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.07999920</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHOENIX ARIZ INDL DEV AUTH</name>
        <lei>549300A62PWFBDWB8332</lei>
        <title>The Industrial Development Authority of the City of Phoenix Arizona</title>
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          <isin value="US71884SAC44"/>
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        <valUSD>1000000.00000000</valUSD>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2052-11-15</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.95000080</annualizedRt>
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      <invstOrSec>
        <name>COLUMBIA S C</name>
        <lei>N/A</lei>
        <title>City of columbia SC Waterworks &amp; Sewer System Revenue</title>
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        <valUSD>800000.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2038-02-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>4.09000020</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>AMERICAN MUN PWR OHIO INC</name>
        <lei>EARKGGZJJEMVD66XQ486</lei>
        <title>American Municipal Power Inc </title>
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        <balance>250000.00000000</balance>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2023-11-29</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.25000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>METROPOLITAN TRANSN AUTH N Y</name>
        <lei>5493000TKYODLXADQD60</lei>
        <title>Metropolitan Transportation Authority </title>
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        <valUSD>500000.00000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2035-11-01</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.99999850</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>PHILADELPHIA PA</name>
        <lei>549300IVFOPB4AG7UL47</lei>
        <title>City of Philadelphia PA </title>
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        <balance>875000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>876937.08000000</valUSD>
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        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2024-02-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>5.00000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ATLANTA GA</name>
        <lei>549300GHLQ0J51NUBM84</lei>
        <title>City of Atl GA Arprt Passenger Facility Charge </title>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>Fixed</couponKind>
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      <invstOrSec>
        <name>RALEIGH N C</name>
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        <title>City of Raleigh NC </title>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.20000025</annualizedRt>
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        <name>WASHINGTON ST HSG FIN COMMN</name>
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        <title>Washington State Housing Finance Commission </title>
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        <invCountry>US</invCountry>

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        <fairValLevel>2</fairValLevel>
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    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2023-10-31</ncom:dateSigned>
      <ncom:nameOfApplicant>Centaur Mutual Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>Gregory Knoth</ncom:signature>
      <ncom:signerName>Gregory Knoth</ncom:signerName>
      <ncom:title>SVP, Mutual Fund Controller</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
