# EDGAR Filing Document

**Accession Number:** 0000836267
**File Stem:** 0002000324-25-003076
**Filing Date:** 2025-8
**Character Count:** 16028
**Document Hash:** 124556cd62e7ea443e55f1f2fce44299
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0002000324-25-003076.hdr.sgml**: 20250825

**ACCESSION NUMBER**: 0002000324-25-003076

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250825

**DATE AS OF CHANGE**: 20250825

**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:** 251250361

**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 FUND (Series ID: S000067900)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000217709 | Institutional Class | IOLZX           |
| C000217710 | Investor Class      | ISTAX           |

## 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 FUND

- **b. EDGAR series identifier (if any):** S000067900

- **c. LEI of Series:** 2549003HA4R16ERI1H91

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

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

- **b. Date as of which information is reported:** 2025-06-30

**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:** $48421753.16

**Total Liabilities:** $249784.17

**Net Assets:** $48171968.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000217709 | 4.60%                | 7.95%                | -5.19%               |
| Class ID C000217710 | 4.57%                | 7.92%                | -5.19%               |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $376752.26               | $1710795.70                                |
| Month 2  | $-6439.61                | $3328844.47                                |
| Month 3  | $-112828.33              | $-2310079.54                               |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Adobe Inc                         | Adobe Inc COM USD0.0001                          | CUSIP: 00724F101<br>LEI: FU4LY2G4933NH2E1CP29 | Long             | EC               | CORP              | US        |      2300 | NS      | $889824.00    | 1.85%             |  |  |  | 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        |    285161 | OU      | $285160.59    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Stanley Black & Decker, Inc.      | Stanley Black & Decker, Inc. COM USD2.50         | CUSIP: 854502101<br>LEI: 549300DJ09SMTO561131 | Long             | EC               | CORP              | US        |     12600 | NS      | $853650.00    | 1.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Eastman Chemical Company          | Eastman Chemical Company COM USD0.01             | CUSIP: 277432100<br>LEI: FDPVHDGJ1IQZFK9KH630 | Long             | EC               | CORP              | US        |     13100 | NS      | $978046.00    | 2.03%             |  |  |  | No            |                  1 | On Loan: No      |
| T-Mobile US Inc                   | T-Mobile US Inc COM USD0.00001                   | CUSIP: 872590104<br>LEI: 549300QHIJYOHPACPG31 | Long             | EC               | CORP              | US        |      7200 | NS      | $1715472.00   | 3.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc               | Dominion Energy Inc COM STK NPV                  | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     24100 | NS      | $1362132.00   | 2.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Chart Industries Inc              | Chart Industries Inc COM USD0.01                 | CUSIP: 16115Q308<br>LEI: EM7QGKC1GYOF3LSZSL80 | Long             | EC               | CORP              | US        |     11810 | NS      | $1944516.50   | 4.04%             |  |  |  | No            |                  1 | On Loan: No      |
| The Chemours Company LLC          | The Chemours Company LLC COM USD0.01 WI          | CUSIP: 163851108<br>LEI: 549300M1BOLNXL8DOV14 | Long             | EC               | CORP              | US        |     65800 | NS      | $753410.00    | 1.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Vodafone Group PLC                | Vodafone Group PLC SPON ADR EACH REP 10 ORD      | CUSIP: 92857W308<br>LEI: 213800TB53ELEUKM7Q61 | Long             | EC               | CORP              | GB        |    155000 | NS      | $1652300.00   | 3.43%             |  |  |  | No            |                  1 | On Loan: No      |
| JPMorgan Chase & Co.              | JPMorgan Chase & Co. COM USD1.00                 | CUSIP: 46625H100<br>LEI: 8I5DZWZKVSZI1NUHU748 | Long             | EC               | CORP              | US        |      6850 | NS      | $1985883.50   | 4.12%             |  |  |  | No            |                  1 | On Loan: No      |
| LPL Financial Holdings Inc.       | LPL Financial Holdings Inc. COM USD0.001         | CUSIP: 50212V100<br>LEI: 549300XROQ4Y8G2L7682 | Long             | EC               | CORP              | US        |      6800 | NS      | $2549796.00   | 5.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Euronet Worldwide, Inc.           | Euronet Worldwide, Inc. COM USD0.02              | CUSIP: 298736109<br>LEI: YG3575C4DSHJPA5KET68 | Long             | EC               | CORP              | US        |     11683 | NS      | $1184422.54   | 2.46%             |  |  |  | No            |                  1 | On Loan: No      |
| MasterCard Incorporated           | MasterCard Incorporated COM USD0.0001 CLASS A    | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |      3119 | NS      | $1752690.86   | 3.64%             |  |  |  | No            |                  1 | On Loan: No      |
| Seagate Technology Holdings PLC   | Seagate Technology Holdings PLC ORD SHS          | CUSIP: G7997R103<br>LEI: 635400RUXIFEZSRU8X70 | Long             | EC               | CORP              | IE        |     15000 | NS      | $2164950.00   | 4.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp.            | Truist Financial Corp. COM                       | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     39100 | NS      | $1680909.00   | 3.49%             |  |  |  | No            |                  1 | On Loan: No      |
| Synaptics Incorporated            | Synaptics Incorporated COM USD0.001              | CUSIP: 87157D109<br>LEI: 549300AJ3LI4FWNRQX29 | Long             | EC               | CORP              | US        |      9900 | NS      | $641718.00    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| Southwest Airlines Co.            | Southwest Airlines Co. COM USD1                  | CUSIP: 844741108<br>LEI: UDTZ87G0STFETI6HGH41 | Long             | EC               | CORP              | US        |     22400 | NS      | $726656.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Power Integrations Inc.           | Power Integrations Inc. COM USD0.001             | CUSIP: 739276103<br>LEI: 54930085LGXSCIHD5W31 | Long             | EC               | CORP              | US        |     13100 | NS      | $732290.00    | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co.        | Performance Food Group Co. COM USD0.01           | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |     21375 | NS      | $1869671.25   | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Magna International Inc           | Magna International Inc COM NPV                  | CUSIP: 559222401<br>LEI: 95RWVLFZX6VGDZNNTN43 | Long             | EC               | CORP              | CA        |     27100 | NS      | $1046331.00   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Lincoln National Corp.            | Lincoln National Corp. COM NPV                   | CUSIP: 534187109<br>LEI: EFQMQROEDSNBRIP7LE47 | Long             | EC               | CORP              | US        |     47900 | NS      | $1657340.00   | 3.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Lazard Inc                        | Lazard Inc COM                                   | CUSIP: 52110M109<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     31600 | NS      | $1516168.00   | 3.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Kaiser Aluminium Corporation      | Kaiser Aluminium Corporation COM USD0.01         | CUSIP: 483007704<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     21100 | NS      | $1685890.00   | 3.50%             |  |  |  | No            |                  1 | On Loan: No      |
| iShares Trust                     | iShares Trust MSCI ACWI ETF                      | CUSIP: 464288257<br>LEI: 5493000860OXIC4B5K91 | Long             | EC               | RF                | US        |      1500 | NS      | $192900.00    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Horace Mann Educators Corporation | Horace Mann Educators Corporation COM USD0.001   | CUSIP: 440327104<br>LEI: 254900G5YAV3A2YK8T32 | Long             | EC               | CORP              | US        |     48800 | NS      | $2096936.00   | 4.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Payments Inc               | Global Payments Inc COM NPV                      | CUSIP: 37940X102<br>LEI: 549300NOMHGVQBX6S778 | Long             | EC               | CORP              | US        |     11837 | NS      | $947433.48    | 1.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Extreme Networks Inc.             | Extreme Networks Inc. COM USD0.001               | CUSIP: 30226D106<br>LEI: 549300WRECW11X94UB57 | Long             | EC               | CORP              | US        |     80000 | NS      | $1436000.00   | 2.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Direxion Shares ETF Trust         | Direxion Shares ETF Trust DLY SMCAP BULL3X       | CUSIP: 25459W847<br>LEI: 549300M501IVJM50FG12 | Long             | EC               | RF                | US        |      7550 | NS      | $253227.00    | 0.53%             |  |  |  | No            |                  1 | On Loan: —       |
| Delta Air Lines Inc.              | Delta Air Lines Inc. COM USD0.0001               | CUSIP: 247361702<br>LEI: Q2CCMS6R0AS67HJMBN42 | Long             | EC               | CORP              | US        |     26900 | NS      | $1322942.00   | 2.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Ceva Inc                          | Ceva Inc COM USD0.001                            | CUSIP: 157210105<br>LEI: 529900G9T7CVU2J2VU73 | Long             | EC               | CORP              | US        |     29500 | NS      | $648410.00    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Century Aluminum Company          | Century Aluminum Company COM USD0.01             | CUSIP: 156431108<br>LEI: 549300U5ODNGEYWKSW73 | Long             | EC               | CORP              | US        |     60200 | NS      | $1084804.00   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| CSX Corporation                   | CSX Corporation COM USD1                         | CUSIP: 126408103<br>LEI: 549300JVQR4N1MMP3Q88 | Long             | EC               | CORP              | US        |     36200 | NS      | $1181206.00   | 2.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Bank of America Corp.             | Bank of America Corp. COM USD0.01                | CUSIP: 060505104<br>LEI: 9DJT3UXIJIZJI4WXO774 | Long             | EC               | CORP              | US        |     32488 | NS      | $1537332.16   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Baker Hughes Company              | Baker Hughes Company COM USD0.0001 CL A          | CUSIP: 05722G100<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     45406 | NS      | $1740866.04   | 3.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Armstrong World Industries, Inc.  | Armstrong World Industries, Inc. COM STK USD0.01 | CUSIP: 04247X102<br>LEI: KXMRXXOJ88Q45Y45MG74 | Long             | EC               | CORP              | US        |     17750 | NS      | $2883310.00   | 5.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Alamo Group Inc                   | Alamo Group Inc COM USD0.10                      | CUSIP: 011311107<br>LEI: 54930080C93RVZRSDV26 | Long             | EC               | CORP              | US        |      7400 | NS      | $1616012.00   | 3.35%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-08-25

**Name of Applicant:** SCM Trust

**Signature:** /s/ Gregory Pusch

**Name of Signer:** Gregory Pusch

**Title:** General Counsel and CCO