<?xml version="1.0" encoding="UTF-8"?>
<edgarSubmission xmlns="http://www.sec.gov/edgar/ncen" xmlns:com="http://www.sec.gov/edgar/common">
  <schemaVersion>X0404</schemaVersion>
  <headerData>
    <submissionType>N-CEN</submissionType>
    <filerInfo>
      <liveTestFlag>LIVE</liveTestFlag>
      <filer>
        <issuerCredentials>
          <cik>0000705318</cik>
          <ccc>XXXXXXXX</ccc>
        </issuerCredentials>
        <fileNumber>811-03541</fileNumber>
      </filer>
      <flags>
        <returnCopyFlag>true</returnCopyFlag>
        <overrideInternetFlag>false</overrideInternetFlag>
        <confirmingCopyFlag>false</confirmingCopyFlag>
      </flags>
      <investmentCompanyType>N-1A</investmentCompanyType>
    </filerInfo>
    <seriesClass>
      <reportSeriesClass>
        <rptSeriesClassInfo>
          <seriesId>S000015059</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000057997</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000055293</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
        <rptSeriesClassInfo>
          <seriesId>S000057998</seriesId>
          <includeAllClassesFlag>true</includeAllClassesFlag>
        </rptSeriesClassInfo>
      </reportSeriesClass>
    </seriesClass>
  </headerData>
  <formData>
    <generalInfo reportEndingPeriod="2023-06-30" isReportPeriodLt12="N"/>
    <registrantInfo>
      <registrantFullName>ASSET MANAGEMENT FUND</registrantFullName>
      <investmentCompFileNo>811-03541</investmentCompFileNo>
      <registrantCik>0000705318</registrantCik>
      <registrantLei>5493006X1VFXNA9L8L07</registrantLei>
      <registrantstreet1>Three Canal Plaza, 3rd Floor</registrantstreet1>
      <registrantstreet2>Suite 100</registrantstreet2>
      <registrantcity>Portland</registrantcity>
      <registrantzipCode>04101</registrantzipCode>
      <registrantstate>US-ME</registrantstate>
      <registrantcountry>US</registrantcountry>
      <registrantphoneNumber>(614) 416-8833</registrantphoneNumber>
      <websites>
        <website webpage="http://www.amffunds.com"/>
        <website webpage="http://www.aamafunds.com"/>
      </websites>
      <locationBooksRecords>
        <locationBooksRecord>
          <officeName>FolioBeyond, LLC</officeName>
          <officeAddress1>1325 Avenue of the Americas</officeAddress1>
          <officeAddress2>Suite 2302</officeAddress2>
          <officeCity>New York</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-NY"/>
          <officeRecordsZipCode>10019</officeRecordsZipCode>
          <officePhone>(212) 299-5525</officePhone>
          <booksRecordsDesc>Books and records related to investment sub-advisory services</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Austin Atlantic Asset Management Co.</officeName>
          <officeAddress1>1 Alhambra Plaza</officeAddress1>
          <officeAddress2>Suite 100</officeAddress2>
          <officeCity>Coral Gables</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-FL"/>
          <officeRecordsZipCode>33134</officeRecordsZipCode>
          <officePhone>305-379-6656</officePhone>
          <booksRecordsDesc>Books and records related to investment advisory services</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>MUFG Union Bank, N.A.</officeName>
          <officeAddress1>350 California Street</officeAddress1>
          <officeCity>San Francisco</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-CA"/>
          <officeRecordsZipCode>94104</officeRecordsZipCode>
          <officePhone>(415) 765-3434</officePhone>
          <booksRecordsDesc>Books and records related to Custody services</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Ultimus Fund Solutions, LLC</officeName>
          <officeAddress1>225 Pictoria Dr.</officeAddress1>
          <officeAddress2>Suite 450</officeAddress2>
          <officeCity>Cincinnati</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-OH"/>
          <officeRecordsZipCode>45246</officeRecordsZipCode>
          <officePhone>513.587.3400</officePhone>
          <booksRecordsDesc>Books and records related to fund accounting, financial reporting, and transfer agency services</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Foreside Management Services, LLC</officeName>
          <officeAddress1>Three Canal Plaza, 3rd Floor</officeAddress1>
          <officeAddress2>Suite 100</officeAddress2>
          <officeCity>Portland</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-ME"/>
          <officeRecordsZipCode>04101</officeRecordsZipCode>
          <officePhone>866-251-6920</officePhone>
          <booksRecordsDesc>Books and records related to distribution services and fund administration</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>Advanced Asset Management Advisors, Inc.</officeName>
          <officeAddress1>4995 Bradenton Avenue</officeAddress1>
          <officeAddress2>Suite 210</officeAddress2>
          <officeCity>Dublin</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-OH"/>
          <officeRecordsZipCode>43017</officeRecordsZipCode>
          <officePhone>(614) 717-4451</officePhone>
          <booksRecordsDesc>Books and records related to investment advisory services</booksRecordsDesc>
        </locationBooksRecord>
        <locationBooksRecord>
          <officeName>The Northern Trust Company</officeName>
          <officeAddress1>50 South LaSalle Street</officeAddress1>
          <officeCity>Chicago</officeCity>
          <officeStateCountry officeCountry="US" officeState="US-IL"/>
          <officeRecordsZipCode>60603</officeRecordsZipCode>
          <officePhone>(312) 630-6000</officePhone>
          <booksRecordsDesc>Books and records related to fund accounting, financial reporting, and transfer agency services</booksRecordsDesc>
        </locationBooksRecord>
      </locationBooksRecords>
      <isRegistrantFirstFiling>N</isRegistrantFirstFiling>
      <isRegistrantLastFiling>N</isRegistrantLastFiling>
      <isRegistrantFamilyInvComp>N</isRegistrantFamilyInvComp>
      <registrantClassificationType>N-1A</registrantClassificationType>
      <totalSeries>3</totalSeries>
      <terminatedSeries>
        <terminatedSeriesInfo seriesName="AAAMCO Ultrashort Financing Fund" seriesId="S000055293" terminationDate="05/2023"/>
      </terminatedSeries>
      <isSecuritiesActRegistration>Y</isSecuritiesActRegistration>
      <directors>
        <director>
          <directorName>David J. Gruber</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>James A. Simpson</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
        <director>
          <directorName>Carla S. Carstens</directorName>
          <crdNumber>N/A</crdNumber>
          <isDirectorInterestedPerson>N</isDirectorInterestedPerson>
          <fileNumbers>
            <fileNumberInfo fileNumber="N/A"/>
          </fileNumbers>
        </director>
      </directors>
      <chiefComplianceOfficers>
        <chiefComplianceOfficer>
          <ccoName>Eimile J. Moore</ccoName>
          <crdNumber>002722064</crdNumber>
          <ccoStreet1>Three Canal Plaza, 3rd Floor</ccoStreet1>
          <ccoStreet2>Suite 100</ccoStreet2>
          <ccoCity>Portland</ccoCity>
          <ccoStateCountry ccoCountry="US" ccoState="US-ME"/>
          <ccoZipCode>04101</ccoZipCode>
          <ccoPhone>XXXXXX</ccoPhone>
          <isCcoChangedSinceLastFiling>N</isCcoChangedSinceLastFiling>
          <ccoEmployers>
            <ccoEmployer ccoEmployerName="N/A" ccoEmployerId="N/A"/>
          </ccoEmployers>
        </chiefComplianceOfficer>
      </chiefComplianceOfficers>
      <isRegistrantSubmittedMatter>N</isRegistrantSubmittedMatter>
      <isPreviousLegalProceeding>N</isPreviousLegalProceeding>
      <isPreviousProceedingTerminated>N</isPreviousProceedingTerminated>
      <isClaimFiled>N</isClaimFiled>
      <coveredByInsurancePolicy isCoveredByInsurancePolicy="Y" isClaimFiledDuringPeriod="N"/>
      <isFinancialSupportDuringPeriod>N</isFinancialSupportDuringPeriod>
      <isExemptionFromAct>N</isExemptionFromAct>
      <principalUnderwriters>
        <principalUnderwriter>
          <principalUnderwriterName>Austin Atlantic Capital Inc.</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-50509</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000043981</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-FL"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>Y</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
        <principalUnderwriter>
          <principalUnderwriterName>BHIL Distributors, LLC</principalUnderwriterName>
          <principalUnderwriterFileNumber>8-68027</principalUnderwriterFileNumber>
          <principalUnderwriterCrdNumber>000148477</principalUnderwriterCrdNumber>
          <principalUnderwriterLei>N/A</principalUnderwriterLei>
          <principalUnderWriterStateCountry principalUnderWriterCountry="US" principalUnderWriterState="US-ME"/>
          <isPrincipalUnderwriterAffiliatedWithRegistrant>N</isPrincipalUnderwriterAffiliatedWithRegistrant>
        </principalUnderwriter>
      </principalUnderwriters>
      <isUnderwriterHiredOrTerminated>N</isUnderwriterHiredOrTerminated>
      <publicAccountants>
        <publicAccountant>
          <publicAccountantName>Cohen &amp; Company, Ltd.</publicAccountantName>
          <pcaobNumber>925</pcaobNumber>
          <publicAccountantLei>N/A</publicAccountantLei>
          <publicAccountantStateCountry publicAccountantCountry="US" publicAccountantState="US-OH"/>
        </publicAccountant>
      </publicAccountants>
      <isPublicAccountantChanged>N</isPublicAccountantChanged>
      <isMaterialWeakness>N</isMaterialWeakness>
      <isOpinionOffered>N</isOpinionOffered>
      <isMaterialChange>N</isMaterialChange>
      <isAccountingPrincipleChange>N</isAccountingPrincipleChange>
      <isPaymentErrorInNetAssetValue>N</isPaymentErrorInNetAssetValue>
      <isPaymentDividend>N</isPaymentDividend>
    </registrantInfo>
    <managementInvestmentQuestionSeriesInfo>
      <managementInvestmentQuestion>
        <mgmtInvFundName>Large Cap Equity Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000015059</mgmtInvSeriesId>
        <mgmtInvLei>549300LTU88NX6NO8P72</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>2</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="Class AMF Shares" sharesOutstandingClassId="C000041028" sharesOutstandingTickerSymbol="IICAX"/>
          <sharesOutstanding sharesOutstandingClassName="Class H" sharesOutstandingClassId="C000072278" sharesOutstandingTickerSymbol="IICHX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Austin Atlantic Asset Management Co.</investmentAdviserName>
            <investmentAdviserFileNo>801-54963</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000110035</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-FL" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <subAdvisers>
          <subAdviser>
            <subAdviserName>System Two Advisors L.P.</subAdviserName>
            <subAdviserFileNo>801-76820</subAdviserFileNo>
            <subAdviserCrdNo>000164189</subAdviserCrdNo>
            <subAdviserLei>N/A</subAdviserLei>
            <isSubAdviserAffiliated>N</isSubAdviserAffiliated>
            <subAdviserStateCountry subAdviserState="US-NJ" subAdviserCountry="US"/>
            <isSubAdviserHired>N</isSubAdviserHired>
          </subAdviser>
        </subAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Northern Trust Corporation</transferAgentName>
            <transferAgentFileNo>085-05127</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-IL" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Corporation</custodianName>
            <custodianLei>549300GLF98S992BC502</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <shareholderServicingAgents>
          <shareholderServicingAgent>
            <shareholderServiceAgentName>Northern Trust Corporation</shareholderServiceAgentName>
            <shareholderServiceAgentLei>085-05127</shareholderServiceAgentLei>
            <shareholderServiceIdNumberDesc>SEC File Number</shareholderServiceIdNumberDesc>
            <shareholderServiceAgentStateCountry shareholderServiceAgentState="US-IL" shareholderServiceAgentCountry="US"/>
            <isShareholderServiceAgentAffiliated>N</isShareholderServiceAgentAffiliated>
            <isShareholderServiceAgentSubshare>N</isShareholderServiceAgentSubshare>
          </shareholderServicingAgent>
        </shareholderServicingAgents>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>084-05829</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-OH" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>Foreside Management Services, LLC</adminName>
            <adminLei>812-14405</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Austin Atlantic Capital Inc.</brokerDealerName>
            <brokerDealerFileNo>8-50509</brokerDealerFileNo>
            <brokerDealerCrdNo>000043981</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-FL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <brokers>
          <broker>
            <brokerName>National Westminister Bank NY</brokerName>
            <brokerFileNo>N/A</brokerFileNo>
            <brokerCrdNo>N/A</brokerCrdNo>
            <brokerLei>N/A</brokerLei>
            <brokerStateCountry brokerState="US-NY" brokerCountry="US"/>
            <grossCommission>797.29000000</grossCommission>
          </broker>
        </brokers>
        <aggregateCommission>797.29000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>National Westminister Bank NY</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>10864294.85000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>10864294.85000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>44635643.62163399</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>44629520.61295521</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>AAMA Equity Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000057997</mgmtInvSeriesId>
        <mgmtInvLei>5493006BPRWTG1P75754</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="AAMA Equity Fund" sharesOutstandingClassId="C000189198" sharesOutstandingTickerSymbol="AMFEX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>N</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>N</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Advanced Asset Management Advisors, Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-61760</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000119859</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-OH" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
            <transferAgentFileNo>084-05829</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-OH" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank National Association</custodianName>
            <custodianLei>5493001WC5CQQI9L9G80</custodianLei>
            <custodianStateCountry custodianState="US-CA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Foreside Management Services, LLC</adminName>
            <adminLei>812-14405</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>084-05829</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-OH" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>MORGAN STANLEY &amp; CO., LLC</principalName>
            <principalFileNo>008-15869</principalFileNo>
            <principalCrdNo>000008209</principalCrdNo>
            <principalLei>9R7GPTSO7KV3UQJZQ078</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>24830027.75000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>24830027.75000000</principalAggregatePurchase>
        <isBrokerageResearchPayment>Y</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>391876882.76379800</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>AAAMCO Ultrashort Financing Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000055293</mgmtInvSeriesId>
        <mgmtInvLei>549300C9G8EP138D1785</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>2</numTerminatedClass>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-1 (17 CFR 270.12d1-1)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>Y</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Austin Atlantic Asset Management Co.</investmentAdviserName>
            <investmentAdviserFileNo>801-54963</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000110035</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-FL" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Northern Trust Corporation</transferAgentName>
            <transferAgentFileNo>085-05127</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-IL" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceIdNumberDesc>N/A</pricingServiceIdNumberDesc>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>Northern Trust Corporation</custodianName>
            <custodianLei>549300GLF98S992BC502</custodianLei>
            <custodianStateCountry custodianState="US-IL" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>084-05829</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-OH" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>Foreside Management Services, LLC</adminName>
            <adminLei>812-14405</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <brokerDealers>
          <brokerDealer>
            <brokerDealerName>Austin Atlantic Capital Inc.</brokerDealerName>
            <brokerDealerFileNo>8-50509</brokerDealerFileNo>
            <brokerDealerCrdNo>000043981</brokerDealerCrdNo>
            <brokerDealerLei>N/A</brokerDealerLei>
            <brokerDealerStateCountry brokerDealerState="US-FL" brokerDealerCountry="US"/>
            <brokerDealerCommission>0.00</brokerDealerCommission>
          </brokerDealer>
        </brokerDealers>
        <aggregateCommission>0.00000000</aggregateCommission>
        <principalTransactions>
          <principalTransaction>
            <principalName>BREAN CAPITAL LLC</principalName>
            <principalFileNo>008-40742</principalFileNo>
            <principalCrdNo>000023723</principalCrdNo>
            <principalLei>254900ZZA1UBVDCNQ378</principalLei>
            <principalStateCountry principalState="US-DE" principalCountry="US"/>
            <principalTotalPurchaseSale>109703000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Stifel &amp; Nicolaus &amp; Co</principalName>
            <principalFileNo>008-01447</principalFileNo>
            <principalCrdNo>000000793</principalCrdNo>
            <principalLei>5WUVMA08EYG4KEUPW589</principalLei>
            <principalStateCountry principalState="US-MO" principalCountry="US"/>
            <principalTotalPurchaseSale>93859649.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>SOLOMON HESS</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>55709646.68999999</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BMO Bank National Association</principalName>
            <principalFileNo>008-67064</principalFileNo>
            <principalCrdNo>000137114</principalCrdNo>
            <principalLei>3Y4U8VZURTYWI1W2K376</principalLei>
            <principalStateCountry principalState="US-IL" principalCountry="US"/>
            <principalTotalPurchaseSale>1624607.55000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>Brean Murray</principalName>
            <principalFileNo>008-40742</principalFileNo>
            <principalCrdNo>000023723</principalCrdNo>
            <principalLei>254900ZZA1UBVDCNQ378</principalLei>
            <principalStateCountry principalState="US-DE" principalCountry="US"/>
            <principalTotalPurchaseSale>86374000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>JVB FINANCIAL GROUP LLC</principalName>
            <principalFileNo>008-68186</principalFileNo>
            <principalCrdNo>000149758</principalCrdNo>
            <principalLei>254900YUMD4CG5TD3D77</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>51615221.88000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>BANK OF MONTREAL</principalName>
            <principalFileNo>008-67064</principalFileNo>
            <principalCrdNo>000137115</principalCrdNo>
            <principalLei>NQQ6HPCNCCU6TUTQYE16</principalLei>
            <principalCountry>CA</principalCountry>
            <principalTotalPurchaseSale>41254467.58999999</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>ORCHID ISLAND</principalName>
            <principalFileNo>N/A</principalFileNo>
            <principalCrdNo>N/A</principalCrdNo>
            <principalLei>N/A</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>86724000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
          <principalTransaction>
            <principalName>AMHERST SECURITIES</principalName>
            <principalFileNo>008-68282</principalFileNo>
            <principalCrdNo>000150696</principalCrdNo>
            <principalLei>549300LGG2RLWD21SU97</principalLei>
            <principalStateCountry principalState="US-NY" principalCountry="US"/>
            <principalTotalPurchaseSale>80000000.00000000</principalTotalPurchaseSale>
          </principalTransaction>
        </principalTransactions>
        <principalAggregatePurchase>3029352893.37999960</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>119122303.49930362</mnthlyAvgNetAssets>
        <dailyAvgNetAssets>120139306.80773154</dailyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
      <managementInvestmentQuestion>
        <mgmtInvFundName>AAMA Income Fund</mgmtInvFundName>
        <mgmtInvSeriesId>S000057998</mgmtInvSeriesId>
        <mgmtInvLei>549300TGEECM004R2F59</mgmtInvLei>
        <isFirstFilingByFund>N</isFirstFilingByFund>
        <numAuthorizedClass>0</numAuthorizedClass>
        <numAddedClass>0</numAddedClass>
        <numTerminatedClass>0</numTerminatedClass>
        <sharesOutstandings>
          <sharesOutstanding sharesOutstandingClassName="AAMA Income Fund" sharesOutstandingClassId="C000189199" sharesOutstandingTickerSymbol="AMFEX"/>
        </sharesOutstandings>
        <fundType>N/A</fundType>
        <isNonDiversifiedCompany>N</isNonDiversifiedCompany>
        <isForeignSubsidiary>N</isForeignSubsidiary>
        <isFundSecuritiesLending>N</isFundSecuritiesLending>
        <didFundLendSecurities>N</didFundLendSecurities>
        <paymentToAgentManagerType>N/A</paymentToAgentManagerType>
        <avgPortfolioSecuritiesValue>0.00000000</avgPortfolioSecuritiesValue>
        <netIncomeSecuritiesLending>0.00000000</netIncomeSecuritiesLending>
        <relyOnRuleTypes>
          <relyOnRuleType>Rule 12d1-4 (17 CFR 270.12d1-4)</relyOnRuleType>
          <relyOnRuleType>Rule 32a-4 (17 CFR 270.32a-4)</relyOnRuleType>
        </relyOnRuleTypes>
        <isExpenseLimitationInPlace>Y</isExpenseLimitationInPlace>
        <isExpenseReducedOrWaived>Y</isExpenseReducedOrWaived>
        <isFeesWaivedRecoupable>N</isFeesWaivedRecoupable>
        <isExpenseWaivedRecoupable>N</isExpenseWaivedRecoupable>
        <investmentAdvisers>
          <investmentAdviser>
            <investmentAdviserName>Advanced Asset Management Advisors, Inc.</investmentAdviserName>
            <investmentAdviserFileNo>801-61760</investmentAdviserFileNo>
            <investmentAdviserCrdNo>000119859</investmentAdviserCrdNo>
            <investmentAdviserLei>N/A</investmentAdviserLei>
            <investmentAdviserStateCountry investmentAdviserState="US-OH" investmentAdviserCountry="US"/>
            <isInvestmentAdviserHired>N</isInvestmentAdviserHired>
          </investmentAdviser>
        </investmentAdvisers>
        <transferAgents>
          <transferAgent>
            <transferAgentName>Ultimus Fund Solutions, LLC</transferAgentName>
            <transferAgentFileNo>084-05829</transferAgentFileNo>
            <transferAgentLei>N/A</transferAgentLei>
            <transferAgentStateCountry transferAgentState="US-OH" transferAgentCountry="US"/>
            <isTransferAgentAffiliated>N</isTransferAgentAffiliated>
            <isTransferAgentSubAgent>N</isTransferAgentSubAgent>
          </transferAgent>
        </transferAgents>
        <isTransferAgentHiredOrTerminated>N</isTransferAgentHiredOrTerminated>
        <pricingServices>
          <pricingService>
            <pricingServiceName>Intercontinental Exchange, Inc.</pricingServiceName>
            <pricingServiceLei>5493000F4ZO33MV32P92</pricingServiceLei>
            <pricingServiceStateCountry pricingServiceState="US-GA" pricingServiceCountry="US"/>
            <isPricingServiceAffiliated>N</isPricingServiceAffiliated>
          </pricingService>
        </pricingServices>
        <isPricingServiceHiredOrTerminated>N</isPricingServiceHiredOrTerminated>
        <custodians>
          <custodian>
            <custodianName>U.S. Bank National Association</custodianName>
            <custodianLei>5493001WC5CQQI9L9G80</custodianLei>
            <custodianStateCountry custodianState="US-CA" custodianCountry="US"/>
            <isCustodianAffiliated>N</isCustodianAffiliated>
            <isSubCustodian>N</isSubCustodian>
            <custodyType>Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))</custodyType>
          </custodian>
        </custodians>
        <isCustodianHiredOrTerminated>N</isCustodianHiredOrTerminated>
        <isShareholderServiceHiredTerminated>N</isShareholderServiceHiredTerminated>
        <admins>
          <admin>
            <adminName>Foreside Management Services, LLC</adminName>
            <adminLei>812-14405</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-ME" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>N</isAdminSubAdmin>
          </admin>
          <admin>
            <adminName>Ultimus Fund Solutions, LLC</adminName>
            <adminLei>084-05829</adminLei>
            <idNumberDesc>SEC file number</idNumberDesc>
            <adminStateCountry adminState="US-OH" adminCountry="US"/>
            <isAdminAffiliated>N</isAdminAffiliated>
            <isAdminSubAdmin>Y</isAdminSubAdmin>
          </admin>
        </admins>
        <isAdminHiredOrTerminated>N</isAdminHiredOrTerminated>
        <aggregateCommission>0.00</aggregateCommission>
        <principalAggregatePurchase>0.00</principalAggregatePurchase>
        <isBrokerageResearchPayment>N</isBrokerageResearchPayment>
        <mnthlyAvgNetAssets>146460839.13245901</mnthlyAvgNetAssets>
        <hasLineOfCredit>N</hasLineOfCredit>
        <isInterfundLending>N</isInterfundLending>
        <isInterfundBorrowing>N</isInterfundBorrowing>
        <isSwingPricing>N</isSwingPricing>
      </managementInvestmentQuestion>
    </managementInvestmentQuestionSeriesInfo>
    <attachmentsTab>
      <isLegalProceedings>false</isLegalProceedings>
      <isProvisionFinancialSupport>false</isProvisionFinancialSupport>
      <isIPAReportInternalControl>true</isIPAReportInternalControl>
      <isChangeAccPrinciples>false</isChangeAccPrinciples>
      <isInfoRequiredEO>false</isInfoRequiredEO>
      <isOtherInfoRequired>false</isOtherInfoRequired>
    </attachmentsTab>
    <signature registrantSignedName="ASSET MANAGEMENT FUND" signedDate="2023-09-13" signature="Trent Statczar" title="Treasurer"/>
  </formData>
</edgarSubmission>
