Modern Capital Tactical Opportunities Fund | |||||||||
Schedule of Investments | |||||||||
As of March 31, 2022 | |||||||||
Shares | Value (Note 1) | ||||||||
CLOSED-END FUNDS - 58.21% | |||||||||
Aberdeen Asia-Pacific Income Fund, Inc. | 265,000 | $ | 895,700 | ||||||
Barings Global Short Duration High Yield Fund | 3,858 | 59,799 | |||||||
BlackRock Credit Allocation Income Trust | 23,952 | 300,837 | |||||||
BlackRock Enhanced International Dividend Trust | 35,771 | 205,683 | |||||||
BNY Mellon High Yield Strategies Fund | 77,045 | 214,185 | |||||||
Credit Suisse High Yield Bond Fund | 264,546 | 576,710 | |||||||
First Trust Aberdeen Emerging Opportunity Fund | 22,318 | 229,652 | |||||||
GAMCO Global Income Trust | 153,680 | 619,331 | |||||||
Goldman Sachs MLP Energy and Renaissance Fund | 37,130 | 448,530 | |||||||
Highland Global Allocation Fund | 80,605 | 793,959 | |||||||
Highland Income Fund | 57,800 | 690,132 | |||||||
Kayne Anderson NextGen Energy & Infrastructure, Inc. | 89,733 | 769,012 | |||||||
LMP Capital and Income Fund, Inc. | 19,693 | 287,912 | |||||||
Mexico Equity & Income Fund, Inc. | 67,610 | 617,279 | |||||||
Morgan Stanley Emerging Markets Debt Fund | 28,734 | 223,551 | |||||||
Morgan Stanley Emerging Markets Domestic Debt Fund, Inc. | 183,516 | 915,745 | |||||||
Neuberger Berman MLP & Energy Income Fund | 113,517 | 731,050 | |||||||
NexPoint Diversified Real Estate Trust | 49,783 | 787,567 | |||||||
Permain Royalty Trust | 96,802 | 242,973 | |||||||
PGIM Global High Yield Fund | 6,065 | 81,089 | |||||||
PGIM High Yield Bond Fund, Inc. | 419 | 6,000 | |||||||
PIMCO Energy & Tactical Credit Opportunities Fund | 13,301 | 197,254 | |||||||
Seven Hills Realty Trust | 67,944 | 756,217 | |||||||
Virtus AllianzGI Convertible & Income Fund II | 100,467 | 435,022 | |||||||
Total Closed-End Funds (Cost $10,690,851) | 11,085,189 | ||||||||
COMMON STOCKS - 9.89% | |||||||||
Consumer Discretionary - 0.96% | |||||||||
*µ | Despegar.com Corp. | 15,000 | 183,000 | ||||||
183,000 | |||||||||
Energy - 4.69% | |||||||||
µ | Petroleo Brasileiro SA | 20,000 | 296,000 | ||||||
Sabine Royalty Trust | 8,391 | 484,580 | |||||||
TC Energy Corp. | 2,000 | 112,840 | |||||||
893,420 | |||||||||
Financials - 4.24% | |||||||||
*µ | Banco BBVA Argentina SA | 32,466 | 115,254 | ||||||
µ | Banco Macro SA | 14,704 | 254,379 | ||||||
*µ | Grupo Financiero Galicia | 17,000 | 183,600 | ||||||
µ | Grupo Supervielle SA | 125,902 | 254,322 | ||||||
807,555 | |||||||||
Total Common Stocks (Cost $1,680,323) | 1,883,975 | ||||||||
(Continued) |
Modern Capital Tactical Opportunities Fund | |||||||||
Schedule of Investments - Continued | |||||||||
As of March 31, 2022 | |||||||||
Shares | Value (Note 1) | ||||||||
EXCHANGE-TRADED PRODUCT - 1.55% | |||||||||
Real Estate - 1.55% | |||||||||
iShares Mortgage Real Estate ETF | 9,038 | $ | 295,271 | ||||||
Total Exchange-Traded Product (Cost $293,639) | 295,271 | ||||||||
MASTER LIMITED PARTNERSHIP - 1.90% | |||||||||
Energy - 1.90% | |||||||||
Black Stone Minerals LP | 26,875 | 361,737 | |||||||
Total Master Limited Partnership (Cost $318,198) | 361,737 | ||||||||
GRANTOR TRUSTS - 11.20% | |||||||||
Energy - 11.20% | |||||||||
BP Prudhoe Bay Royalty Trust | 995 | 14,089 | |||||||
Kimbell Royalty Partners LP | 5,000 | 81,300 | |||||||
MV Oil Trust | 67,131 | 790,468 | |||||||
Permian Basin Royalty Trust | 34,815 | 435,536 | |||||||
San Juan Royalty Trust | 92,500 | 811,225 | |||||||
Total Grantor Trusts (Cost $1,804,912) | 2,132,618 | ||||||||
SHORT-TERM INVESTMENT - 11.85% | |||||||||
§ | Federated Hermes Government Obligations Fund, 0.03% | 2,257,315 | 2,257,315 | ||||||
Total Short-Term Investment (Cost $2,257,315) | 2,257,315 | ||||||||
Total Value of Investments (Cost $17,045,238) - 94.60% | $ | 18,016,105 | |||||||
Other Assets Less Liabilities - 5.40% | 1,028,843 | ||||||||
Net Assets - 100% | $ | 19,044,948 | |||||||
* | Non-income producing investment | ||||||||
µ | American Depositary Receipt | ||||||||
§ | Represents 7 day effective yield | ||||||||
The following acronyms or abbreviations are used in this Schedule: | |||||||||
MLP - Master Limited Partnership | |||||||||
LP - Limited Partnership | |||||||||
(Continued) |
Modern Capital Tactical Opportunities Fund | |||||||||
Schedule of Investments - Continued | |||||||||
As of March 31, 2022 | |||||||||
Summary of Investments by | |||||||||
Type and Sector | % of Net | ||||||||
Assets | Value | ||||||||
Closed-End Funds | 58.21% | $ | 11,085,189 | ||||||
Common Stocks: | |||||||||
Consumer Discretionary | 0.96% | 183,000 | |||||||
Energy | 4.69% | 893,420 | |||||||
Financials | 4.24% | 807,555 | |||||||
Exchange-Traded Product: | |||||||||
Real Estate | 1.55% | 295,271 | |||||||
Master Limited Partnership: | |||||||||
Energy | 1.90% | 361,737 | |||||||
Grantor Trusts: | |||||||||
Energy | 11.20% | 2,132,618 | |||||||
Short-Term Investment | 11.85% | 2,257,315 | |||||||
Other Assets Less Liabilities | 5.40% | 1,028,843 | |||||||
Total Net Assets | 100.00% | $ | 19,044,948 | ||||||