# EDGAR Filing Document

**Accession Number:** 0000836267
**File Stem:** 0001387131-23-002581
**Filing Date:** 2023-2
**Character Count:** 27111
**Document Hash:** e17b49dc51ce7fdcce99fcf9b80d3243
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-002581.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001387131-23-002581

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230228

**DATE AS OF CHANGE**: 20230228

**PERIOD START**: 20221231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCM Trust
- **CENTRAL INDEX KEY:** 0000836267
- **IRS NUMBER:** 526400931
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05617
- **FILM NUMBER:** 23686787

**BUSINESS ADDRESS:**
- **STREET 1:** 1875 LAWRENCE STREET
- **STREET 2:** SUITE 300
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-1805
- **BUSINESS PHONE:** 800-955-9988

**MAIL ADDRESS:**
- **STREET 1:** 1875 LAWRENCE STREET
- **STREET 2:** SUITE 300
- **CITY:** DENVER
- **STATE:** CO
- **ZIP:** 80202-1805

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SHELTON GREATER CHINA FUND
- **DATE OF NAME CHANGE:** 20110614

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TAIWAN GREATER CHINA FUND
- **DATE OF NAME CHANGE:** 20040105

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** R O C TAIWAN FUND
- **DATE OF NAME CHANGE:** 19920703

## Series and Classes Contracts Data

### SHELTON TACTICAL CREDIT FUND (Series ID: S000054578)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000171442 | Investor Class      | DEBTX           |
| C000174064 | Institutional Class | DEBIX           |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** SCM Trust

- **b. Investment Company Act file number:** 811-05617

- **c. CIK number of Registrant:** 0000836267

- **d. LEI of Registrant:** 254900SUSEM61EA08I06

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1875 Lawrence Street, Suite 300

  - **City:** Denver

  - **State:** CO

  - **Foreign country:** US

  - **Zip / Postal Code:** 80202-1805

  - **Telephone number:** 800-955-9988

**Item A.2. Information about the Series.**

- **a. Name of Series:** SHELTON TACTICAL FUND

- **b. EDGAR series identifier (if any):** S000054578

- **c. LEI of Series:** 254900YOM7QWQMSBIY40

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2022-12-31

- **b. Date as of which information is reported:** 2022-12-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $37528067.45

**Total Liabilities:** $1319216.76

**Net Assets:** $36208850.69

**Cash Not Reported:** $1154308.80

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 21.828631584249 | **1-Year:** 1234.3894178322712 | **5-Year:** 6343.365019752538 | **10-Year:** 11441.79337028058 | **30-Year:** 4845.579038715866

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 0.443223443223 | **1-Year:** 5.544456228234 | **5-Year:** 14.049560197108997 | **10-Year:** 16.724469252222004 | **30-Year:** 9.238290879212

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000174064 | -0.59%               | 2.22%                | 0.41%                |
| Class ID C000171442 | -0.62%               | 2.22%                | 0.41%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $12128.59                | $-269079.04                                |
| Month 2  | $24675.13                | $878864.37                                 |
| Month 3  | $-3338583.53             | $373270.62                                 |

### Schedule of Portfolio Investments

| Name                                                                         | Title                                                        | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   | Fair Value Level   | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| The Bon-Ton Department Stores, Inc.                                          | BONT 8 06/15/21                                              | CUSIP: 09776NAF9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   4958932 | PA      | $37191.99     | 0.10%             | 2021-06-15      | Fixed         | 8.00%                 | No            | 2                  | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                        | CT CTSMED 07/01/2036                                         | CUSIP: 20774LRU1<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 1.66%             | 2036-07-01      | Variable      | 2.95%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA POLLUTION CTL FING AUTH                                           | CA CASPOL 8 07/01/2039                                       | CUSIP: 130536RA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $977850.00    | 2.70%             | 2039-07-01      | Fixed         | 8.00%                 | Yes           | N/A                | On Loan: No      |
| CHC Group LLC / CHC Finance LTD                                              | CHC Group LLC / CHC Finance LTD USD0.003                     | CUSIP: 12550E306<br>LEI: N/A                  | Long             | EC               | CORP              | KY        |      9358 | NS      | $0.00         | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| CALIFORNIA MUN FIN AUTH                                                      | CA CASFIN 5 05/15/2051                                       | CUSIP: 13049YBN0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980620.00    | 2.71%             | 2051-05-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| BUCKEYE OHIO TOB SETTLEMENT FING AUTH                                        | OH BUCGEN 5 06/01/2055                                       | CUSIP: 118217CZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $868000.50    | 2.40%             | 2055-06-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CALIFORNIA POLLUTION CTL FING AUTH                                           | CA CASPOL 7.5 07/01/2032                                     | CUSIP: 130536RM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $139250.00    | 0.38%             | 2032-07-01      | Fixed         | 7.50%                 | Yes           | N/A                | On Loan: No      |
| AAdvantage Loyalty IP Ltd/ American Airlines Inc                             | AAL 5.75 04/20/29 144A                                       | CUSIP: 00253XAB7<br>LEI: IWUQB36BXD6OWD6X4T14 | Short            | DBT              | CORP              | KY        |   -500000 | PA      | $-456096.10   | -1.26%            | 2029-04-20      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Aercap Ireland Capital DAC                                                   | AER 3.85 10/29/41                                            | CUSIP: 00774MAZ8<br>LEI: 549300TI38531ODB1G63 | Long             | DBT              | CORP              | IE        |   1500000 | PA      | $1066599.15   | 2.95%             | 2041-10-29      | Fixed         | 3.85%                 | No            | 2                  | On Loan: No      |
| CBL & Associates LP ESCROW                                                   | CBL & Associates LP ESCROW 4.6% SNR PERP NTS USD (SEC REGD)  | CUSIP: 125ESCAF0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $10000.00     | 0.03%             | 2500-12-31      | Fixed         | 4.60%                 | No            | N/A                | On Loan: No      |
| CBL AND ASSOCIATES LIMITED PARTNERS                                          | CBL AND ASSOCIATES LIMITED PARTNERS 5.95% BDS 15/12/2026 USD | CUSIP: 125ESCAG8<br>LEI: 549300VS75TWHD9JTH89 | Long             | DBT              | CORP              | US        |   1526000 | PA      | $15260.00     | 0.04%             | N/A             | None          |  | No            | N/A                | On Loan: No      |
| CALIFORNIA ST                                                                | CA CAS 5 04/01/2042                                          | CUSIP: 13063DQ68<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1111600.80   | 3.07%             | 2042-04-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| CONNECTICUT ST HEALTH & EDL FACS AUTH                                        | CT CTSHGR 07/01/2042                                         | CUSIP: 20775DTS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $150000.00    | 0.41%             | 2042-07-01      | Variable      | 2.75%                 | No            | 2                  | On Loan: No      |
| CUYAHOGA CNTY OHIO                                                           | OH CUYMED 5.5 02/15/2052                                     | CUSIP: 2322655U8<br>LEI: 549300GHDK9DGLUNJU89 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1013718.30   | 2.80%             | 2052-02-15      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| Directv Financing LLC/Directv Financing Co-Obligor Inc.                      | DTV 5.875 08/15/27 144A                                      | CUSIP: 25461LAA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1000000 | PA      | $894660.00    | 2.47%             | 2027-08-15      | Fixed         | 5.88%                 | Yes           | 2                  | On Loan: No      |
| DISTRICT COLUMBIA WTR & SWR AUTH                                             | DC DISUTL 5 10/01/2047                                       | CUSIP: 254845SC5<br>LEI: 549300OT2FIJQJ5PSH71 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1080245.90   | 2.98%             | 2047-10-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Eletson Holdings Inc / Eletson Finance US LLC                                | ELETSN 9.625 01/15/22 Ai                                     | CUSIP: 28620EAB6<br>LEI: 529900IV2A2ZMUKN9J79 | Long             | DBT              | CORP              | LR        |    548153 | PA      | $0.00         | 0.00%             | 2022-01-15      | Floating      | 0.00%                 | Yes           | 2                  | On Loan: No      |
| Energy Ventures Gom LLC / Enven Finance Corp                                 | EVEVEN 11.75 04/15/26 144A                                   | CUSIP: 29278MAC9<br>LEI: 549300ATK0W91EMR0E64 | Long             | DBT              | CORP              | US        |   1350000 | PA      | $1397250.00   | 3.86%             | 2026-04-15      | Fixed         | 11.75%                | Yes           | 2                  | On Loan: No      |
| Great Lakes Dredge & Dock Corporation                                        | GLDD 5.25 06/01/29 144A                                      | CUSIP: 390607AF6<br>LEI: 549300H65E3MZ1CX0P05 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $777400.00    | 2.15%             | 2029-06-01      | Fixed         | 5.25%                 | Yes           | 2                  | On Loan: No      |
| Guitar Center Escrow II Inc                                                  | GTRC 8.5 01/15/26 144A                                       | CUSIP: 40204BAA3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1027321.81   | 2.84%             | 2026-01-15      | Fixed         | 8.50%                 | Yes           | 2                  | On Loan: No      |
| Hawaiian Brand Intellectual Property Limited / Hawaiianmiles Loyalty Limited | HA 5.75 01/20/26 144A                                        | CUSIP: 41984LAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | KY        |   1000000 | PA      | $905000.00    | 2.50%             | 2026-01-20      | Fixed         | 5.75%                 | Yes           | 2                  | On Loan: No      |
| Iron Mountain Incorporated                                                   | IRM 4.875 09/15/29 144A                                      | CUSIP: 46284VAF8<br>LEI: SQL3F6CKNNBM3SQGHX24 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1090250.00   | 3.01%             | 2029-09-15      | Fixed         | 4.88%                 | Yes           | 2                  | On Loan: No      |
| Jbs Usa Lux SA/Jbs Usa Food Company/Jbs Usa Finance Inc                      | JBSSBZ 3.75 12/01/31 144A                                    | CUSIP: 46590XAC0<br>LEI: P77IMDGVZE8EFBTF2M92 | Long             | DBT              | CORP              | LU        |   1500000 | PA      | $1226157.15   | 3.39%             | 2031-12-01      | Fixed         | 3.75%                 | Yes           | 2                  | On Loan: No      |
| Kraft Heinz Foods Company                                                    | KHC 4.375 06/01/46                                           | CUSIP: 50077LAB2<br>LEI: 5493003STKEZ2S0RNU91 | Long             | DBT              | CORP              | US        |    500000 | PA      | $409277.69    | 1.13%             | 2046-06-01      | Fixed         | 4.38%                 | No            | 2                  | On Loan: No      |
| LOS ANGELES CALIF DEPT WTR & PWR                                             | CA LOSUTL 5 07/01/2047                                       | CUSIP: 5444953R3<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1050210.00   | 2.90%             | 2047-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| MARYLAND ST TRANSN AUTH                                                      | MD MDSTRN 5 07/01/2046                                       | CUSIP: 574300NW5<br>LEI: 254900MKNK0MO0Z4X426 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1078882.20   | 2.98%             | 2046-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| MASSACHUSETTS BAY TRANSN AUTH MASS                                           | MA MASTRN 5 07/01/2052                                       | CUSIP: 575577NZ0<br>LEI: 549300D2U0XBUXGX8P68 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1098697.50   | 3.03%             | 2052-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| MASSACHUSETTS ST DEV FIN AGY                                                 | MA MASDEV 5 07/01/2044                                       | CUSIP: 57583U6R4<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004934.00   | 2.78%             | 2044-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| MICHIGAN ST BLDG AUTH                                                        | MI MISFAC 5.25 10/15/2057                                    | CUSIP: 594615KP0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1081421.80   | 2.99%             | 2057-10-15      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| MONTGOMERY CNTY MD                                                           | MD MON 11/01/2037                                            | CUSIP: 6133408D3<br>LEI: 549300GNX5SDUEBKPK13 | Long             | DBT              | MUN               | US        |    200000 | PA      | $200000.00    | 0.55%             | 2037-11-01      | Variable      | 3.65%                 | No            | 2                  | On Loan: No      |
| NEW YORK N Y                                                                 | NY NYC 10/01/2046                                            | CUSIP: 64966MSD2<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 1.38%             | 2046-10-01      | Variable      | 3.40%                 | No            | 2                  | On Loan: No      |
| NEW YORK N Y CITY TRANSITIONAL FIN AUTH                                      | NY NYCGEN 02/01/2045                                         | CUSIP: 64971WUK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.83%             | 2045-02-01      | Variable      | 3.65%                 | No            | 2                  | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                           | NY NYCUTL 06/15/2050                                         | CUSIP: 64972GCN2<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 1.38%             | 2050-06-15      | Variable      | 3.65%                 | No            | 2                  | On Loan: No      |
| NEW YORK N Y CITY MUN WTR FIN AUTH                                           | NY NYCUTL 4 06/15/2049                                       | CUSIP: 64972GSK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $463989.30    | 1.28%             | 2049-06-15      | Fixed         | 4.00%                 | No            | 2                  | On Loan: No      |
| NEW YORK ST TWY AUTH                                                         | NY NYSTRN 5 03/15/2048                                       | CUSIP: 650028ZA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    785000 | PA      | $836337.59    | 2.31%             | 2048-03-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| PENNSYLVANIA ST HIGHER EDL FACS AUTH                                         | PA PASHGR 5 08/15/2042                                       | CUSIP: 70917SS79<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1039109.00   | 2.87%             | 2042-08-15      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Petsmart Inc / Petsmart Financial Corporation                                | PETM 7.75 02/15/29 144A                                      | CUSIP: 71677KAB4<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1173990.63   | 3.24%             | 2029-02-15      | Fixed         | 7.75%                 | Yes           | 2                  | On Loan: No      |
| PORT AUTH N Y & N J                                                          | NY PORTRN 5 12/01/2047                                       | CUSIP: 73358XET5<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1082457.60   | 2.99%             | 2047-12-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| PUERTO RICO PUB FIN CORP                                                     | PR PRCGEN 5.5 08/01/2031                                     | CUSIP: 745291UY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $12000.36     | 0.03%             | 2031-08-01      | Fixed         | 5.50%                 | No            | 2                  | On Loan: No      |
| PUERTO RICO SALES TAX FING CORP                                              | PR PRCGEN 5 07/01/2058                                       | CUSIP: 74529JPX7<br>LEI: 549300EIUFISISP8X671 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $907930.00    | 2.51%             | 2058-07-01      | Fixed         | 5.00%                 | No            | 2                  | On Loan: No      |
| Pyxus International Inc                                                      | Pyxus International Inc COM NEW                              | CUSIP: 74737V205<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     83441 | NS      | $18357.02     | 0.05%             |  |  |  | No            | 1                  | On Loan: No      |
| Pyxus International Loan                                                     | 3M US LIBOR (floor 1.500%) + 8.000%, 2/24/2025               | CUSIP: 74738YAB5<br>LEI: N/A                  | Long             | LON              | CORP              | US        |    734082 | PA      | $642321.66    | 1.77%             | 2025-02-24      | Variable      | 10.50%                | No            | 2                  | On Loan: No      |
| SOUTHEASTERN PA TRANSN AUTH PA                                               | PA SEPTRN 5.25 06/01/2047                                    | CUSIP: 842039FQ7<br>LEI: 5493000NDNE24ONUHZ06 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1096830.70   | 3.03%             | 2047-06-01      | Fixed         | 5.25%                 | No            | 2                  | On Loan: No      |
| Talos Prodtn Inc                                                             | TALO 12 01/15/26                                             | CUSIP: 87485LAC8<br>LEI: 549300GZ2DZZE2Y8TX15 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1051665.00   | 2.90%             | 2026-01-15      | Fixed         | 12.00%                | No            | 2                  | On Loan: No      |
| TEXAS PRIVATE ACTIVITY BD SURFACE TRANSN CORP                                | TX TXSTRN 7 12/31/2038                                       | CUSIP: 882667AG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $509236.55    | 1.41%             | 2038-12-31      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Titan International, Inc.                                                    | TWI 7 04/30/28                                               | CUSIP: 88830MAM4<br>LEI: 54930043H7SFLNS88586 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $944121.41    | 2.61%             | 2028-04-30      | Fixed         | 7.00%                 | No            | 2                  | On Loan: No      |
| Triton Water Holdings Inc.                                                   | TRIWAT 6.25 04/01/29 144A                                    | CUSIP: 89680EAA7<br>LEI: 5493005IYCEL7QJFZZ63 | Long             | DBT              | CORP              | US        |   1250000 | PA      | $1002674.95   | 2.77%             | 2029-04-01      | Fixed         | 6.25%                 | Yes           | 2                  | On Loan: No      |
| United Rentals (North America), Inc.                                         | URI 6 12/15/29 144A                                          | CUSIP: 911365BQ6<br>LEI: NGIZXNT70J2LYT3FBI09 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $993750.00    | 2.74%             | 2029-12-15      | Fixed         | 6.00%                 | Yes           | 2                  | On Loan: No      |
| Victorias Secret and Co                                                      | VSCO 4.625 07/15/29 144A                                     | CUSIP: 926400AA0<br>LEI: 5493006T3O70U3UWVF17 | Long             | DBT              | CORP              | US        |    750000 | PA      | $588825.00    | 1.63%             | 2029-07-15      | Fixed         | 4.62%                 | Yes           | 2                  | On Loan: No      |
| WMG Acquisition Corp.                                                        | WMG 3 02/15/31 144A                                          | CUSIP: 92933BAR5<br>LEI: 549300NAS11NXI33CP80 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $799090.00    | 2.21%             | 2031-02-15      | Fixed         | 3.00%                 | Yes           | 2                  | On Loan: No      |
| 10-Year US Treasury Note Futures                                             | TYG3 COMDTY 2023-01-30 PUT 110.5                             | CUSIP: N/A<br>LEI: N/A                        | Long             | DIR              | CORP              | US        |        75 | NC      | $23437.50     | 0.06%             |  |  |  | No            | 2                  | On Loan: No      |
| Wynn Las Vegas, LLC/Wynn Las Vegas Capital Corp.                             | WYNNLV 5.5 03/01/25 144A                                     | CUSIP: 983130AV7<br>LEI: 2549002X45DR4UI7NA62 | Short            | DBT              | CORP              | US        |   -500000 | PA      | $-474672.98   | -1.31%            | 2025-03-01      | Fixed         | 5.50%                 | Yes           | 2                  | On Loan: No      |

### Signature

**Date Signed:** 2023-02-28

**Name of Applicant:** SCM Trust

**Signature:** /s/ Gregory Pusch

**Name of Signer:** Gregory Pusch

**Title:** General Counsel and CCO