# EDGAR Filing Document

**Accession Number:** 0000836267
**File Stem:** 0002000324-26-000800
**Filing Date:** 2026-3
**Character Count:** 14916
**Document Hash:** 26a0c7f307f7bd5d860675a7f08fbb9c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-26-000800.hdr.sgml**: 20260302

**ACCESSION NUMBER**: 0002000324-26-000800

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260302

**DATE AS OF CHANGE**: 20260302

**PERIOD START**: 20251231

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** SCM Trust
- **CENTRAL INDEX KEY:** 0000836267

**ORGANIZATION NAME:**
- **EIN:** 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:** 26708701

**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

### ICON EQUITY INCOME FUND (Series ID: S000067901)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000217711 | Institutional Class | IOEZX           |
| C000217712 | Investor Class      | IEQAX           |

## 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:** 1125 17th Street, Ste. 2550

  - **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:** ICON EQUITY INCOME FUND

- **b. EDGAR series identifier (if any):** S000067901

- **c. LEI of Series:** 25490038Q7TA41110930

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

- **a. Date of fiscal year-end:** 2025-12-31

- **b. Date as of which information is reported:** 2025-12-31

**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:** $41782043.65

**Total Liabilities:** $970127.92

**Net Assets:** $40811915.73

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000217711 | -0.64%               | 2.33%                | 1.63%                |
| Class ID C000217712 | -0.64%               | 2.28%                | 1.67%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $69856.41                | $-378108.82                                |
| Month 2  | $61198.92                | $-194125.00                                |
| Month 3  | $0.00                    | $-296295.27                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AES Corp.                             | AES Corp. COM                             | CUSIP: 00130H105<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | EC               | CORP              | US        |    136428 | NS      | $1956377.52   | 4.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                            | Amgen Inc. COM                            | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      4500 | NS      | $1472895.00   | 3.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corporation           | Lockheed Martin Corporation COM           | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      3900 | NS      | $1886313.00   | 4.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Archer-Daniels-Midland Co.            | Archer-Daniels-Midland Co. COM            | CUSIP: 039483102<br>LEI: 549300LO13MQ9HYSTR83 | Long             | EC               | CORP              | US        |     25000 | NS      | $1437250.00   | 3.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Nexstar Media Group Inc               | Nexstar Media Group Inc COMMON STOCK      | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |      8075 | NS      | $1639628.75   | 4.00%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corporation     | Horace Mann Educators Corporation COM     | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     42300 | NS      | $1953414.00   | 4.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Incorporated                | Ingredion Incorporated COM                | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     10600 | NS      | $1168756.00   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Funds Inc.             | First American Funds Inc. GOVT OBLIGS X   | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |    530630 | OU      | $530630.30    | 1.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                            | Evergy Inc COM                            | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     31900 | NS      | $2312431.00   | 5.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                            | Lazard Inc COM                            | CUSIP: 52110M109<br>LEI: 254900RIBCDJSUFG1A11 | Long             | EC               | CORP              | US        |     23643 | NS      | $1148104.08   | 2.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Canada Pass Through Trust 2017-1  | ACACN 3.7 01/15/26 144A                   | CUSIP: 00908PAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | CA        |    314815 | PA      | $314551.88    | 0.77%             | 2031-07-15      | Fixed         | 3.70%                 | Yes           |                  2 | On Loan: No      |
| American Airlines, Inc.               | AAL 3.65 06/15/28 A                       | CUSIP: 023764AA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    292250 | PA      | $283502.99    | 0.69%             | 2029-12-15      | Fixed         | 3.65%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.               | AAL 3.5 02/15/32 A                        | CUSIP: 02378MAA9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    350784 | PA      | $323801.48    | 0.79%             | 2033-08-15      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.               | AAL 3.85 02/15/28 B                       | CUSIP: 02379DAA8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    118705 | PA      | $116197.50    | 0.28%             | 2029-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| New Economy Assets Phase 1 Issuer LLC | USRE 2021-1 B1                            | CUSIP: 643821AB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    250000 | PA      | $153385.63    | 0.37%             | 2061-10-20      | Fixed         | 2.41%                 | Yes           |                  2 | On Loan: No      |
| Nustar Logistics, L.P.                | NSUS 6.375 10/01/30                       | CUSIP: 67059TAH8<br>LEI: N62BF2PKP51FIIOIUN20 | Long             | DBT              | CORP              | US        |    250000 | PA      | $263124.49    | 0.64%             | 2030-10-01      | Fixed         | 6.38%                 | No            |                  2 | On Loan: No      |
| The Chemours Company LLC              | The Chemours Company LLC COM              | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |    118100 | NS      | $1392399.00   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| The Western Union Company             | The Western Union Company COM             | CUSIP: 959802109<br>LEI: 28ID94QU1140NC23S047 | Long             | EC               | CORP              | US        |    220500 | NS      | $2052855.00   | 5.01%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co.                        | DTE Energy Co. COM                        | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |     16100 | NS      | $2076578.00   | 5.06%             |  |  |  | No            |                  1 | On Loan: No      |
| GSK plc                               | GSK plc SPONSORED ADR                     | CUSIP: 37733W204<br>LEI: 5493000HZTVUYLO1D793 | Long             | EC               | CORP              | GB        |     32800 | NS      | $1608512.00   | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntsman Corporation                  | Huntsman Corporation COM                  | CUSIP: 447011107<br>LEI: 5299000V56320A7RIQ67 | Long             | EC               | CORP              | US        |     49100 | NS      | $491000.00    | 1.20%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep N.V.                        | ING Groep N.V. SPONSORED ADR              | CUSIP: 456837103<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |     93403 | NS      | $2615284.00   | 6.38%             |  |  |  | No            |                  1 | On Loan: No      |
| KeyCorp                               | KeyCorp COM                               | CUSIP: 493267108<br>LEI: RKPI3RZGV1V1FJTH5T61 | Long             | EC               | CORP              | US        |    107600 | NS      | $2220864.00   | 5.42%             |  |  |  | No            |                  1 | On Loan: No      |
| National Fuel Gas Company             | National Fuel Gas Company COM             | CUSIP: 636180101<br>LEI: 8JB38FFW1Y3C1HM8E841 | Long             | EC               | CORP              | US        |     26537 | NS      | $2124552.22   | 5.18%             |  |  |  | No            |                  1 | On Loan: No      |
| OneMain Holdings Inc.                 | OneMain Holdings Inc. COM                 | CUSIP: 68268W103<br>LEI: 549300E3VEW8SMS5XW09 | Long             | EC               | CORP              | US        |     28000 | NS      | $1891400.00   | 4.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Company     | Portland General Electric Company COM NEW | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |     40162 | NS      | $1927374.38   | 4.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinity Industries, Inc.              | Trinity Industries, Inc. COM              | CUSIP: 896522109<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | EC               | CORP              | US        |     48800 | NS      | $1290272.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                    | Vodafone Group PLC SPONSORED ADR          | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |     75031 | NS      | $991159.51    | 2.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Archrock Inc                          | Archrock Inc COM                          | CUSIP: 03957W106<br>LEI: 549300K3RIHMHDVFTL28 | Long             | EC               | CORP              | US        |     60000 | NS      | $1561200.00   | 3.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Kearny Financial Corp.                | Kearny Financial Corp. COM                | CUSIP: 48716P108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     40000 | NS      | $296400.00    | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Huntington Bancshares Incorporated    | Huntington Bancshares Incorporated COM    | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |     61654 | NS      | $1069696.90   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Iridium Communications, Inc.          | Iridium Communications, Inc. COM          | CUSIP: 46269C102<br>LEI: 549300U620NVQ4J1CT96 | Long             | EC               | CORP              | US        |     62640 | NS      | $1088683.20   | 2.66%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2026-03-02

**Name of Applicant:** SCM Trust

**Signature:** /s/ Gregory Pusch

**Name of Signer:** Gregory Pusch

**Title:** General Counsel and CCO