# EDGAR Filing Document

**Accession Number:** 0000836267
**File Stem:** 0001387131-23-002585
**Filing Date:** 2023-2
**Character Count:** 32585
**Document Hash:** a6364dc0e2a0904d8dec453cef9fc487
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001387131-23-002585.hdr.sgml**: 20230228

**ACCESSION NUMBER**: 0001387131-23-002585

**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:** 23686814

**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:** 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:** 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:** 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:** $64535228.10

**Total Liabilities:** $1748430.65

**Net Assets:** $62786797.45

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000217711 | -3.98%               | 2.51%                | 7.81%                |
| Class ID C000217712 | -3.98%               | 2.47%                | 7.83%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-1193035.88             | $-1667885.55                               |
| Month 2  | $42525.71                | $1284354.01                                |
| Month 3  | $625.00                  | $4766128.64                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Huntington Bancshares Incorporated                                     | Huntington Bancshares Incorporated COM USD0.01                                                                                 | CUSIP: 446150104<br>LEI: 549300XTVCVV9I7B5T19 | Long             | EC               | CORP              | US        |    142600 | NS      | $2010660.00   | 3.20%             |  |  |  | No            |                  1 | On Loan: No      |
| Union Pacific Corporation                                              | Union Pacific Corporation COM USD2.50                                                                                          | CUSIP: 907818108<br>LEI: 549300LMMRSZZCZ8CL11 | Long             | EC               | CORP              | US        |      3129 | NS      | $647922.03    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Verizon Communications Inc.                                            | Verizon Communications Inc. COM USD0.10                                                                                        | CUSIP: 92343V104<br>LEI: 2S72QS2UO2OESLG6Y829 | Long             | EC               | CORP              | US        |     24800 | NS      | $977120.00    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Amgen Inc.                                                             | Amgen Inc. COM USD0.0001                                                                                                       | CUSIP: 031162100<br>LEI: 62QBXGPJ34PQ72Z12S66 | Long             | EC               | CORP              | US        |      9600 | NS      | $2521344.00   | 4.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Bristol-Myers Squibb Company                                           | Bristol-Myers Squibb Company COM USD0.10                                                                                       | CUSIP: 110122108<br>LEI: HLYYNH7UQUORYSJQCN42 | Long             | EC               | CORP              | US        |     47400 | NS      | $3410430.00   | 5.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Argo Group US, Inc.                                                    | Argo Group US, Inc. 6.5% SENIOR UNSECURED FIXED RATE NOTES DUE 2042                                                            | CUSIP: 040130205<br>LEI: N/A                  | Long             | EP               | CORP              | US        |     53853 | NS      | $1055518.80   | 1.68%             |  |  |  | No            |                  1 | On Loan: No      |
| American Airlines, Inc.                                                | AAL 4.95 02/15/25 B                                                                                                            | CUSIP: 02378WAA7<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | ABS-O            | CORP              | US        |    515500 | PA      | $484877.86    | 0.77%             | 2026-08-15      | Fixed         | 4.95%                 | No            |                  2 | On Loan: No      |
| New York Community Bancorp Inc.                                        | New York Community Bancorp Inc. COM USD0.01                                                                                    | CUSIP: 649445103<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |    234900 | NS      | $2020140.00   | 3.22%             |  |  |  | No            |                  1 | On Loan: No      |
| FIRST AMERN FDS INC                                                    | FIRST AMERN FDS INC GOVT OBLIGS X                                                                                              | CUSIP: 31846V336<br>LEI: 549300J5J5SJCZ9IA369 | Long             | STIV             | RF                | US        |   2135823 | OU      | $2135823.19   | 3.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Canada Pass Through Certificates, Series 2015-1                    | ACACN 3.875 03/15/23 144A                                                                                                      | CUSIP: 009090AB7<br>LEI: 4B4HI3CGXMBDC0G6BM51 | Long             | ABS-O            | CORP              | CA        |    470418 | PA      | $467096.13    | 0.74%             | 2024-09-15      | Fixed         | 3.88%                 | Yes           |                  2 | On Loan: No      |
| Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC  | ACI 4.625 01/15/27 144A                                                                                                        | CUSIP: 013092AC5<br>LEI: 549300YKWOC0AOR16R51 | Long             | DBT              | CORP              | US        |    250000 | PA      | $232217.50    | 0.37%             | 2027-01-15      | Fixed         | 4.62%                 | Yes           |                  2 | On Loan: No      |
| AMERICAN AIRLINES PASS THROUGH TRUST                                   | AAL 3.95 07/11/30 B                                                                                                            | CUSIP: 02376LAA3<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | ABS-O            | CORP              | US        |    500000 | PA      | $397289.80    | 0.63%             | 2032-01-11      | Fixed         | 3.95%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                | AAL 5.25 01/15/24 B                                                                                                            | CUSIP: 02376YAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    243656 | PA      | $237394.93    | 0.38%             | 2025-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| American Airlines, Inc.                                                | AAL 3.85 02/15/28 B                                                                                                            | CUSIP: 02379DAA8<br>LEI: IWUQB36BXD6OWD6X4T14 | Long             | ABS-O            | CORP              | US        |    190632 | PA      | $160365.46    | 0.26%             | 2029-08-15      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| Annaly Capital Management, Inc.                                        | Annaly Capital Management, Inc. 6.95% FXD FLTG CUM RED SR F                                                                    | CUSIP: 035710870<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EP               | CORP              | US        |     34283 | NS      | $835819.54    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                                            | Bank of America Corporation 7.25% PRF SHS USD1000                                                                              | CUSIP: 060505682<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EP               | CORP              | US        |      1007 | NS      | $1168120.00   | 1.86%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corporation                                            | BAC V5.2 PERP U                                                                                                                | CUSIP: 060505ED2<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | DBT              | CORP              | US        |    500000 | PA      | $484500.77    | 0.77%             | 2500-12-31      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Blackstone Strategic Credit Fund                                       | Blackstone Strategic Credit Fund COM USD0.001 SBI                                                                              | CUSIP: 09257R101<br>LEI: 549300YESIF051NRED20 | Long             | EC               | RF                | US        |     93569 | NS      | $989960.02    | 1.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corporation                                      | Capital One Financial Corporation DEP REP 1/40TH PFD SER I                                                                     | CUSIP: 14040H824<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EP               | CORP              | US        |     11075 | NS      | $199350.00    | 0.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Conagra Brands Inc                                                     | CAG 7.125 10/01/26                                                                                                             | CUSIP: 205887AF9<br>LEI: 54930035UDEIH090K650 | Long             | DBT              | CORP              | US        |    175000 | PA      | $184352.11    | 0.29%             | 2026-10-01      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Cowen Inc                                                              | COWN 7.25 05/06/24 AI                                                                                                          | CUSIP: 223622AH4<br>LEI: 5493008QI0EFC5WBED75 | Long             | DBT              | CORP              | US        |    250000 | PA      | $251846.25    | 0.40%             | 2024-05-06      | Fixed         | 7.25%                 | Yes           |                  2 | On Loan: No      |
| Credit Acceptance Corporation of Michigan                              | CACC 6.625 03/15/26                                                                                                            | CUSIP: 225310AM3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    220000 | PA      | $208480.25    | 0.33%             | 2026-03-15      | Fixed         | 6.62%                 | No            |                  2 | On Loan: No      |
| Ivy High Income Opportunities Fd                                       | Ivy High Income Opportunities Fd COM                                                                                           | CUSIP: 246107106<br>LEI: 549300C130E3EJZ8ZQ39 | Long             | EC               | RF                | US        |     65329 | NS      | $716005.84    | 1.14%             |  |  |  | No            |                  1 | On Loan: —       |
| Delta Air Lines Inc                                                    | DAL 7 05/01/25 144A                                                                                                            | CUSIP: 247361ZX9<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | DBT              | CORP              | US        |    500000 | PA      | $511388.74    | 0.81%             | 2025-05-01      | Fixed         | 7.00%                 | Yes           |                  2 | On Loan: No      |
| Eastman Chemical Company                                               | Eastman Chemical Company COM USD0.01                                                                                           | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |     19900 | NS      | $1620656.00   | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Equity Commonwealth                                                    | Equity Commonwealth 6.25% PRF 'D' USD25.00                                                                                     | CUSIP: 294628201<br>LEI: 549300YPGVU9PR4L0606 | Long             | EP               | CORP              | US        |     45594 | NS      | $1142243.69   | 1.82%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                                                             | Evergy Inc COM NPV                                                                                                             | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     28400 | NS      | $1787212.00   | 2.85%             |  |  |  | No            |                  1 | On Loan: No      |
| Farm Credit Bank of Texas                                              | Farm Credit Bank of Texas 144A FIXED-TO-FLOATING RATE CLASS B NON-CUMULATIVE SUBORDINATED PREFERRED STOCK, SERIES 2            | CUSIP: 30767E406<br>LEI: V1EBJIOLRNYDHDF63Z33 | Long             | EP               | USGSE             | US        |     10000 | NS      | $991261.00    | 1.58%             |  |  |  | Yes           |                  1 | On Loan: No      |
| FTAI Aviation Ltd                                                      | FTAI 6.5 10/01/25 144A                                                                                                         | CUSIP: 34960PAB7<br>LEI: 529900E7PUVK6BC8PE80 | Long             | DBT              | CORP              | KY        |    250000 | PA      | $235050.96    | 0.37%             | 2025-10-01      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Greystar Real Estate Partners LLC                                      | GRSTAR 5.75 12/01/25 144A                                                                                                      | CUSIP: 39807UAB2<br>LEI: 254900HGC806SXAS4M46 | Long             | DBT              | CORP              | US        |    250000 | PA      | $244313.13    | 0.39%             | 2025-12-01      | Fixed         | 5.75%                 | Yes           |                  2 | On Loan: No      |
| HCA Inc.                                                               | HCA 5.875 02/15/26                                                                                                             | CUSIP: 404119BS7<br>LEI: L3CJ6J7LJ2DX62FTXD46 | Long             | DBT              | CORP              | US        |    500000 | PA      | $503708.59    | 0.80%             | 2026-02-15      | Fixed         | 5.88%                 | No            |                  2 | On Loan: No      |
| Hooker Furnishings Corp.                                               | Hooker Furnishings Corp. COM NPV                                                                                               | CUSIP: 439038100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     39200 | NS      | $733040.00    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Ingredion Incorporated                                                 | Ingredion Incorporated COM USD0.01                                                                                             | CUSIP: 457187102<br>LEI: PKSTQ48QDN0XSVS7YK88 | Long             | EC               | CORP              | US        |     14700 | NS      | $1439571.00   | 2.29%             |  |  |  | No            |                  1 | On Loan: No      |
| International Business Machines Corporation                            | International Business Machines Corporation COM USD0.20                                                                        | CUSIP: 459200101<br>LEI: VGRQXHF3J8VDLUA7XE92 | Long             | EC               | CORP              | US        |      5900 | NS      | $831251.00    | 1.32%             |  |  |  | No            |                  1 | On Loan: No      |
| Invesco High Income 2023 Target Ter                                    | Invesco High Income 2023 Target Ter COM                                                                                        | CUSIP: 46135X108<br>LEI: 549300BCZEX5Z2RBWI81 | Long             | EC               | RF                | US        |     86671 | NS      | $696834.84    | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Leggett & Platt Inc.                                                   | Leggett & Platt Inc. COM USD0.01                                                                                               | CUSIP: 524660107<br>LEI: DKOVQUCDW4ZLYCUD4T55 | Long             | EC               | CORP              | US        |     42600 | NS      | $1372998.00   | 2.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Lockheed Martin Corporation                                            | Lockheed Martin Corporation COM USD1.00                                                                                        | CUSIP: 539830109<br>LEI: DPRBOZP0K5RM2YE8UU08 | Long             | EC               | CORP              | US        |      6500 | NS      | $3162185.00   | 5.04%             |  |  |  | No            |                  1 | On Loan: No      |
| M.D.C. Holdings Inc.                                                   | M.D.C. Holdings Inc. COM USD0.01                                                                                               | CUSIP: 552676108<br>LEI: 5299005FV4VNV75R8R35 | Long             | EC               | CORP              | US        |     58676 | NS      | $1854161.60   | 2.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MGM Resorts International                                              | MGM 6.75 05/01/25                                                                                                              | CUSIP: 552953CG4<br>LEI: 54930066VBP7DZEGGJ87 | Long             | DBT              | CORP              | US        |    750000 | PA      | $753951.75    | 1.20%             | 2025-05-01      | Fixed         | 6.75%                 | No            |                  2 | On Loan: No      |
| Manulife Financial Corporation                                         | Manulife Financial Corporation COM NPV                                                                                         | CUSIP: 56501R106<br>LEI: 5493007GBX87QOZACS27 | Long             | EC               | CORP              | CA        |    117800 | NS      | $2101552.00   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastec, Inc.                                                           | MTZ 6.625 08/15/29 144A                                                                                                        | CUSIP: 576323AQ2<br>LEI: 549300TMDIT8WREDOF45 | Long             | DBT              | CORP              | US        |    250000 | PA      | $223750.00    | 0.36%             | 2029-08-15      | Fixed         | 6.62%                 | Yes           |                  2 | On Loan: No      |
| Mileage Plus Hldgs Llc / Mileage Plus Intellectual Property Assets Ltd | UAL 6.5 06/20/27 144A                                                                                                          | CUSIP: 599191AA1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    450029 | PA      | $447419.66    | 0.71%             | 2027-06-20      | Fixed         | 6.50%                 | Yes           |                  2 | On Loan: No      |
| Nationwide Mutual Insurance Co.                                        | NATMUT V0 12/15/24                                                                                                             | CUSIP: 638671AJ6<br>LEI: Z7LVXXWM8HZPKF5T2355 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $997367.27    | 1.59%             | 2024-12-15      | Floating      | 7.06%                 | Yes           |                  2 | On Loan: No      |
| Nexstar Media Group Inc                                                | Nexstar Media Group Inc COM  USD0.01 CL'A'                                                                                     | CUSIP: 65336K103<br>LEI: 52990083ZRR5UT591988 | Long             | EC               | CORP              | US        |     11800 | NS      | $2065354.00   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Intermediate Duration Municipal Term Fund                       | Nuveen Intermediate Duration Municipal Term Fund COM USD0.01                                                                   | CUSIP: 670671106<br>LEI: 5493001W3VSD7ZLC7O52 | Long             | EC               | RF                | US        |    156589 | NS      | $2054447.68   | 3.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Nuveen Inter Duration Quality Muni                                     | Nuveen Inter Duration Quality Muni COM USD0.01                                                                                 | CUSIP: 670677103<br>LEI: 5493001W3VSD7ZLC7O52 | Long             | EC               | RF                | US        |     25000 | NS      | $312250.00    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| OceanFirst Financial Corp.                                             | OceanFirst Financial Corp. COM USD0.01                                                                                         | CUSIP: 675234108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |    118000 | NS      | $2507500.00   | 3.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Picasso Finance Subordinated Inc                                       | WLSC 6.125 06/15/25 144A                                                                                                       | CUSIP: 71953LAA9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |    500000 | PA      | $495000.00    | 0.79%             | 2025-06-15      | Fixed         | 6.12%                 | Yes           |                  2 | On Loan: No      |
| Plains All American Pipeline L.P./PAA Finance Corp.                    | Plains All American Pipeline L.P./PAA Finance Corp. UNIT REP LIM PART INT NPV                                                  | CUSIP: 726503105<br>LEI: 5521FA2ITF25TVH63740 | Long             | EC               | CORP              | US        |    115900 | NS      | $1362984.00   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Principal Financial Group                                              | PFG V0 05/15/55                                                                                                                | CUSIP: 74251VAL6<br>LEI: CUMYEZJOAF02RYZ1JJ85 | Long             | DBT              | CORP              | US        |    750000 | PA      | $725625.00    | 1.16%             | 2055-05-15      | Floating      | 7.65%                 | No            |                  2 | On Loan: No      |
| Raymond James Financial Inc.                                           | Raymond James Financial Inc. DEP SHS EACH REP A 1/40TH INTEREST IN A SHARE 6.375% FIX TO FLOAT RATE NON-CUM PERP PFD STK SER B | CUSIP: 754730406<br>LEI: RGUZHJ05YTITL6D76949 | Long             | EP               | CORP              | US        |     13741 | NS      | $342150.90    | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                                                        | S 7.125 06/15/24                                                                                                               | CUSIP: 85207UAH8<br>LEI: 549300ZTTY7CXOLJ6539 | Long             | DBT              | CORP              | US        |   1000000 | PA      | $1020026.00   | 1.62%             | 2024-06-15      | Fixed         | 7.12%                 | No            |                  2 | On Loan: No      |
| Templeton Global Income Fd                                             | Templeton Global Income Fd TEMPLETON GLOBAL INCOME                                                                             | CUSIP: 880198106<br>LEI: QU1AAXOSV5K4OVMXJP19 | Long             | EC               | RF                | US        |     71325 | NS      | $308837.25    | 0.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Trinity Industries, Inc.                                               | Trinity Industries, Inc. COM USD0.01                                                                                           | CUSIP: 896522109<br>LEI: R1JB4KXN77XFCXOQKV49 | Long             | EC               | CORP              | US        |     48800 | NS      | $1443016.00   | 2.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Uber Technologies Inc                                                  | UBER 8 11/01/26 144A                                                                                                           | CUSIP: 90353TAC4<br>LEI: 549300B2FTG34FILDR98 | Long             | DBT              | CORP              | US        |    750000 | PA      | $752581.31    | 1.20%             | 2026-11-01      | Fixed         | 8.00%                 | Yes           |                  2 | On Loan: No      |
| UNITED AIRLINES PASS THROUGH CERTIFICATES                              | UAL 4.55 08/25/31 A                                                                                                            | CUSIP: 90931EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |    417245 | PA      | $351191.78    | 0.56%             | 2033-02-25      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Whirlpool Corporation                                                  | Whirlpool Corporation COM USD1                                                                                                 | CUSIP: 963320106<br>LEI: WHENKOULSSK7WUM60H03 | Long             | EC               | CORP              | US        |     11200 | NS      | $1584352.00   | 2.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Webster Financial Corp.                                                | Webster Financial Corp. COM USD0.01                                                                                            | CUSIP: 947890109<br>LEI: KMRURHT0VWKYS6Z5KU67 | Long             | EC               | CORP              | US        |     22800 | NS      | $1079352.00   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| Wesco Distribution, Inc.                                               | WCC 7.125 06/15/25 144A                                                                                                        | CUSIP: 95081QAN4<br>LEI: 549300I2CEZJG9N4AH67 | Long             | DBT              | CORP              | US        |    300000 | PA      | $303751.30    | 0.48%             | 2025-06-15      | Fixed         | 7.12%                 | Yes           |                  2 | On Loan: No      |
| Vertical Cap Income Fund                                               | Vertical Cap Income Fund SHS BEN INT                                                                                           | CUSIP: 92535C104<br>LEI: N/A                  | Long             | EC               | RF                | US        |    136327 | NS      | $1187408.17   | 1.89%             |  |  |  | No            |                  1 | On Loan: No      |
| Vector Group Ltd                                                       | Vector Group Ltd COM USD0.1                                                                                                    | CUSIP: 92240M108<br>LEI: 549300TUIF4WWN6NDN50 | Long             | EC               | CORP              | US        |    243300 | NS      | $2885538.00   | 4.60%             |  |  |  | No            |                  1 | 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