# EDGAR Filing Document

**Accession Number:** 0000351786
**File Stem:** 0001104659-23-031715
**Filing Date:** 2023-3
**Character Count:** 79986
**Document Hash:** ba8a4fb3bd546a68512e65c179366f18
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001104659-23-031715.hdr.sgml**: 20230313

**ACCESSION NUMBER**: 0001104659-23-031715

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20230131

**FILED AS OF DATE**: 20230313

**DATE AS OF CHANGE**: 20230313

**PERIOD START**: 20231030

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** BMC FUND INC
- **CENTRAL INDEX KEY:** 0000351786
- **IRS NUMBER:** 560296780
- **STATE OF INCORPORATION:** NC
- **FISCAL YEAR END:** 1031

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-03150
- **FILM NUMBER:** 23726797

**BUSINESS ADDRESS:**
- **STREET 1:** 800 HICKORY BLVD SW
- **CITY:** LENOIR
- **STATE:** NC
- **ZIP:** 28645-5858
- **BUSINESS PHONE:** 8287586100

**MAIL ADDRESS:**
- **STREET 1:** 800 HICKORY BLVD SW
- **CITY:** LENOIR
- **STATE:** NC
- **ZIP:** 28645-5858

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** BROYHILL MANAGEMENT CORP
- **DATE OF NAME CHANGE:** 19820608

## Nport-Ex

---

| |
|:---|
| **BMC FUND, INC.** |
| **SCHEDULE OF INVESTMENTS (Unaudited)** |
| **January 31, 2023** |

---

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Debt Issuer** | **Coupon**<br>**Interest**<br>**Rate** | <br>**Maturity**<br>**Date** |<br>**Face**<br>**Amount** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **FIXED INCOME:** |  |  |  |  |  |  |
| **CORPORATE BONDS:** |  |  |  |  |  |  |
| FIRST CITIZENS | 5.800% | 12/31/2049 | $250000 | $252461 | $251022 |  |
| FPL GROUP CAP INC | 6.350% | 10/1/2066 | 586000 | 562910 | 498100 |  |
| PP&L CAP FUNDING FLT RATE | 5.051% | 3/30/2067 | 250000 | 250000 | 219430 |  |
| TRANSCANADA PIPELINES LTD | 6.350% | 5/15/2067 | 250000 | 199120 | 205238 |  |
| LEHMAN BROTHERS HLDGS NIKKEI INDEX<sup>1,2,3</sup> | 0.000% | 9/29/2008 | 3000000 | 1603128 |  |  |
| LEHMAN BROTHERS HLDGS EAFE INDEX<sup>1,2,3</sup> | 0.000% | 11/15/2008 | 1000000 | 526028 |  |  |
| LEHMAN BROTHERS HLDGS MEDIUM TERM NOTE<sup>1,2,3</sup> | 0.000% | 3/15/2011 | 2500000 | 1334732 | - |  |
|  |  |  | 7836000 | 4728380 | 1173790 | 3.08% |
| TOTAL INVESTMENTS IN FIXED INCOME |  |  | $7836000 | $4728380 | $1173790 | 3.08% |

---

---

| |
|:---|
| **BMC FUND, INC.** |
| **SCHEDULE OF INVESTMENTS (Continued) (Unaudited)** |
| **January 31, 2023** |

---

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Company Name** |<br>**Shares**<br>**Held** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **MUTUAL FUNDS:** |  |  |  |  |
| **BOND MUTUAL FUNDS:** |  |  |  |  |
| MFC BLACKROCK TAXABLE MUNICIPAL BOND TRUST | 50645 | $896065 | $913636 |  |
| GUGGENHEIM TAXABLE MUNICIPAL BOND & INV GRADE DEBT TRUST | 30470 | 512038 | 530178 |  |
| TOTAL BOND MUTUAL FUNDS |  | 1408103 | 1443814 | 3.79% |
| **STOCK MUTUAL FUNDS:** |  |  |  |  |
| INTERNATIONAL EQUITIES |  |  |  |  |
| Diversified Emerging Markets |  |  |  |  |
| ADVISORS SER TR PZENA EMG MK INS | 25492 | 255568 | 291629 |  |
|  |  | 255568 | 291629 | 0.77% |
| SPECIALTY FUNDS |  |  |  |  |
| Conservative Allocation |  |  |  |  |
| NEXPOINT MERGER ARBITRAGE | 51105 | 1025348 | 1012905 |  |
|  |  | 1025348 | 1012905 | 2.66% |
| Precious Metals |  |  |  |  |
| ISHARES SILVER TRUST<sup>3</sup> | 1252 | 21040 | 27331 |  |
| SPDR GOLD SHARES<sup>3</sup> | 260 | 25315 | 46647 |  |
| VANECK VECTORS GOLD MINERS | 571 | 16167 | 18283 |  |
|  |  | 62522 | 92261 | 0.24% |
| TOTAL STOCK MUTUAL FUNDS |  | 1343438 | 1396795 | 3.67% |
| TOTAL INVESTMENTS IN MUTUAL FUNDS |  | $2751541 | $2840609 | 7.45% |

---

---

| |
|:---|
| **BMC FUND, INC.** |
| **SCHEDULE OF INVESTMENTS (Continued) (Unaudited)** |
| **January 31, 2023** |

---

---

| | | | |
|:---|:---|:---|:---|
| <br>**Company Name** |<br>**Cost** | **Market**<br>**Value** | **Percent of**<br>**Net Assets** |
| **OTHER INVESTMENTS:** |  |  |  |
| **LIMITED PARTNERSHIPS:** |  |  |  |
| BAM CREDIT OPPORTUNITIES FUND<sup>2, 3, 6</sup> | $700000 | $794094 |  |
| ELLIOTT ASSOCIATES LP CL B<sup>2, 3</sup> | 1000000 | 5912315 |  |
| GRAHAM INSTITUTIONAL PARTNERS LP<sup>2, 3</sup> | 2365123 | 2969734 |  |
| GREENLIGHT MASTERS QUALIFIED LP<sup>2, 3</sup> | 500000 | 2747935 |  |
| INFINITY PREMIER FUND, LP<sup>2, 3</sup> | 500000 | 2244347 |  |
| LITESPEED PARTNERS, LP<sup>2, 3</sup> |  | 28316 |  |
| MUDRICK DISTRESSED OPPORTUNITY DRAWDOWN FUND II, L.P.<sup>2, 3</sup> | 3496363 | 4780970 |  |
| OAKTREE ENHANCED INCOME FUND II, LP<sup>2, 3</sup> |  | 24571 |  |
| OLD WELL EMERGING MARKETS FUND<sup>2, 3</sup> | 1000000 | 770121 |  |
| OLD WELL EMERGING SPECIAL OPPORTUNITIES FUND<sup>2, 3</sup> | 200000 | 199365 |  |
| SEGRA RESOURCE ONSHORE PARTNERS, LP<sup>2, 3</sup> | 250000 | 912670 |  |
| SJC ONSHORE DIRECT LENDING FUND IV - 5 YEAR, L.P.<sup>2, 3</sup> | 1964984 | 2025775 |  |
| VIRGO SOCIETAS III (ONSHORE) LP<sup>2, 3</sup> | 116298 | 106915 |  |
| WALNUT INVESTMENT PARTNERS<sup>2, 3</sup> | 235567 |  |  |
| WORLDWIDE OPPORTUNITY FUND (CAYMAN) LTD. CL A-A46<sup>2, 3</sup> | 1031227 | 1122697 |  |
| TOTAL LIMITED PARTNERSHIPS | 13359562 | 24639825 | 64.67% |
| TOTAL OTHER INVESTMENTS | $13359562 | $24639825 | 64.67% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Sectors and**<br>**Industries** | <br>**Shares**<br>**Held** | <br>**Company Name** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **COMMON STOCKS:** |  |  |  |  |  |
| COMMUNICATION SERVICES |  |  |  |  |  |
| Communication Services | 4007 | ACTIVISION BLIZZARD, INC | $314363 | $306816 |  |
|  | 238 | BCE INC COM | 10963 | 11257 |  |
|  | 2500 | LUMEN TECHNOLOGIES, INC. | 27718 | 13125 |  |
|  | 63 | SK TELECOM LTD SPONSORED A | 1262 | 1336 |  |
|  | 377 | TELEFONICA S A SPONSORED A | 60 | 1448 |  |
|  |  |  | 354366 | 333982 | 0.88% |
| Media and Entertainment | 740 | ALPHABET INC CAP STK CL C | 47706 | 73904 |  |
|  | 765 | META PLATFORMS INC CL A | 99806 | 113962 |  |
|  | 116 | NETFLIX COM INC COM | 31676 | 41048 |  |
|  |  |  | 179188 | 228914 | 0.60% |
| Interactive Home Entertainment | 8760 | NINTENDO LTD ADR | 98661 | 94345 |  |
|  |  |  | 98661 | 94345 | 0.25% |
| TOTAL COMMUNICATION SERVICES |  |  | 632215 | 657241 | 1.72% |
| CONSUMER DISCRETIONARY |  |  |  |  |  |
| Consumer Discretionary | 20 | WHIRLPOOL CORP COM | 2234 | 3112 |  |
|  |  |  | 2234 | 3112 | 0.01% |
| Hotels, Restaurants & Leisure | 79 | CAESARS ENTERTAINMENT COM | 6388 | 4113 |  |
|  |  |  | 6388 | 4113 | 0.01% |
| Communications | 3 | GRAHAM HOLDINGS CO COM CL B | 1228 | 1960 |  |
|  |  |  | 1228 | 1960 | 0.01% |
| Specialty Retail | 21 | GENUINE PARTS CO COM | 1985 | 3524 |  |
|  |  |  | 1985 | 3524 | 0.01% |
| TOTAL CONSUMER DISCRETIONARY |  |  | 11835 | 12709 | 0.03% |
| CONSUMER STAPLES |  |  |  |  |  |
| Discount Stores | 100 | DOLLAR GEN CORP COM | 14580 | 23360 |  |
|  | 1292 | DOLLAR TREE INC COM | 157487 | 194033 |  |
|  |  |  | 172067 | 217393 | 0.57% |
| Food & Staples Retailing | 131 | KROGER CO COM | 4133 | 5847 |  |
|  | 76 | WAL-MART STORES INC COM | 10261 | 10934 |  |
|  |  |  | 14394 | 16781 | 0.04% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Sectors and**<br>**Industries** | <br>**Shares**<br>**Held** | <br>**Company Name** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **COMMON STOCKS:** |  |  |  |  |  |
| Food, Beverage & Tobacco | 8619 | ALTRIA GROUP INC COM | 403615 | 388200 |  |
|  | 104590 | AMBEV SA SPONSORED ADR | 291354 | 278209 |  |
|  | 1958 | ANHEUSER-BUSCH INBEV SA/NV | 111212 | 118048 |  |
|  | 104 | COCA COLA CO COM | 4970 | 6377 |  |
|  | 5531 | COCA COLA FEMSA S A B SPON | 311662 | 421352 |  |
|  | 78 | CONSTELLATION BRANDS CL A | 7076 | 18058 |  |
|  | 1602 | FOMENTO ECONOMICO MEXI SPO | 115166 | 140656 |  |
|  | 23 | GENERAL MILLS INC COM | 931 | 1802 |  |
|  | 5297 | PHILIP MORRIS INTL COM | 508433 | 552159 |  |
|  |  |  | 1754419 | 1924861 | 5.05% |
| Household & Personal Products | 126 | KIMBERLY CLARK CORP COM | 17492 | 16381 |  |
|  | 11 | PROCTER & GAMBLE CO COM | 737 | 1566 |  |
|  |  |  | 18229 | 17947 | 0.05% |
| TOTAL CONSUMER STAPLES |  |  | 1959109 | 2176982 | 5.71% |
| ENERGY |  |  |  |  |  |
| Energy | 250 | CHENIERE ENERGY, INC. | 42466 | 38198 |  |
|  | 1200 | CVR ENERGY, INC. | 43491 | 39840 |  |
|  | 159 | CRESTWOOD EQUITY PARTNERS | 3370 | 4277 |  |
|  | 500 | DEVON ENERGY CORP NEW COM | 35635 | 31620 |  |
|  | 1500 | FREEHOLD ROYALTIES, LTD | 19007 | 18090 |  |
|  | 2000 | FLEX LNG LTD. | 62848 | 62200 |  |
|  | 473 | SUNOCO INC COM | 13246 | 22576 |  |
|  |  |  | 220063 | 216801 | 0.57% |
| Pipelines | 181 | DELEK LOGISTICS PARTNERS LP | 5334 | 9157 |  |
|  | 630 | ENBRIDGE INC | 18339 | 25811 |  |
|  |  |  | 23673 | 34968 | 0.09% |
| TOTAL ENERGY |  |  | 243736 | 251769 | 0.66% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Sectors and**<br>**Industries** | <br>**Shares**<br>**Held** | <br>**Company Name** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **COMMON STOCKS:** |  |  |  |  |  |
| FINANCIALS |  |  |  |  |  |
| Banks | 263 | BANK OF AMERICA CORP COM | 6063 | 9331 |  |
|  | 1 | SVB FINANCIAL GROUP COM | 341 | 302 |  |
|  | 394 | TRUIST FINANCIAL CORP COM | 13819 | 19460 |  |
|  |  |  | 20223 | 29093 | 0.08% |
| Diversified Financials | 1312 | ALLIANCE BERNSTEIN HLDG UN | 54060 | 49738 |  |
|  | 179 | BERKSHIRE HATHAWAY INC CL B | 36099 | 55762 |  |
|  | 756 | BLACKSTONE GROUP LP COM | 24342 | 72546 |  |
|  | 3 | BROOKFIELD ASSET MGMT COM | 150 | 98 |  |
|  | 14 | BROOKFIELD CORPORATION | 593 | 521 |  |
|  | 420 | CARLYLE GROUP LP COM | 9160 | 15107 |  |
|  | 36 | CME GROUP | 5993 | 6360 |  |
|  | 263 | COMPASS DIVERSIFIED HOLDINGS | 3600 | 5870 |  |
|  | 918 | GOLUB CAPITAL BDC INC COM |  | 12577 |  |
|  | 51 | INTERNCONTINENTAL EXCHANGE COM | 3817 | 5485 |  |
|  | 52 | MORGAN STANLEY COM NEW | 2956 | 5061 |  |
|  | 17 | PRICE T ROWE GROUP INC COM | 3251 | 1980 |  |
|  | 667 | STARWOOD PPTY TR INC COM | 14597 | 13934 |  |
|  |  |  | 158618 | 245039 | 0.64% |
| Insurance | 79 | AON PLC SHS CL A | 6409 | 25176 |  |
|  | 263 | OLD REP INTL CORP COM | 4433 | 6941 |  |
|  | 129 | TRAVELERS COMPANIES COM | 10711 | 24654 |  |
|  | 263 | ZURICH INS GROUP LTD SPONS ARD | 6984 | 13005 |  |
|  |  |  | 28537 | 69776 | 0.18% |
| TOTAL FINANCIALS |  |  | 207378 | 343908 | 0.90% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Sectors and**<br>**Industries** | <br>**Shares**<br>**Held** | <br>**Company Name** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **COMMON STOCKS:** |  |  |  |  |  |
| HEALTH CARE |  |  |  |  |  |
| Health Care Equipment & Services | 1987 | CARDINAL HEALTH INC COM | 113968 | 153496 |  |
|  | 157 | DAVITA HEALTHCARE PART COM | 12098 | 12935 |  |
|  | 365 | HOLOGIC INC COM | 18730 | 29700 |  |
|  | 48 | LABORATORY CORP AMER HLDGS | 6922 | 12102 |  |
|  | 306 | MCKESSON CORP COM | 75528 | 115876 |  |
|  | 206 | QUEST DIAGNOSTICS INC COM | 24052 | 30587 |  |
|  | 24 | STRYKER CORP | 4486 | 6091 |  |
|  |  |  | 255784 | 360787 | 0.95% |
| Pharmaceuticals & Biotechnology | 180 | ABBVIE INC | 14611 | 26595 |  |
|  | 524 | ASTRAZENECA PLC SPONSORED | 13125 | 34254 |  |
|  | 6494 | BAYER A G SPONSORED ADR | 105378 | 101177 |  |
|  | 79 | BRISTOL MYERS SQUIBB CO CO | 4564 | 5739 |  |
|  | 135 | ELI LILLY & CO COM | 5947 | 46460 |  |
|  | 20 | IQVIA HOLDINGS INC COM | 1982 | 4588 |  |
|  | 79 | MERCK & CO INC COM | 5654 | 8485 |  |
|  | 5783 | PFIZER INC COM | 282325 | 255377 |  |
|  | 52 | SEATTLE GENETICS INC COM | 2555 | 7253 |  |
|  |  |  | 436141 | 489928 | 1.29% |
| TOTAL HEALTH CARE |  |  | 691925 | 850715 | 2.23% |
| INDUSTRIALS |  |  |  |  |  |
| Capital Goods | 453 | 3M COMPANY | 66270 | 52131 |  |
|  | 208 | ABB LTD SPONSORED ADR | 5057 | 7249 |  |
|  | 10 | ACCELLERON INDUSTRIES AG A | 177 | 233 |  |
|  | 608 | LOCKHEED MARTIN CORP COM | 262390 | 281662 |  |
|  | 79 | STURM RUGER & CO INC COM | 5760 | 4495 |  |
|  |  |  | 339654 | 345770 | 0.91% |
| Commercial Services & Supplies | 24 | WASTE MGMT INC DEL COM | 835 | 3714 |  |
|  |  |  | 835 | 3714 | 0.01% |
| Transportation | 21 | EXPEDITORS INTL OF WASHINGTON COM | 1867 | 2271 |  |
|  | 313 | FORTRESS TRANS INFRST COM | 4997 | 6999 |  |
|  | 313 | FTAI INFRASTRUCTURE INC. | - | 1036 |  |
|  |  |  | 6864 | 10306 | 0.03% |
| Transportation Infrastructure | 1539 | GRUPO AEROPORTUARIO DE SPO | 79611 | 112424 |  |
|  | 465 | GRUPO AEROPORTUARIO DE SPO | 86981 | 126480 |  |
|  | 849 | GRUPO AEROPUERTO DEL P SPO | 118548 | 146512 |  |
|  |  |  | 285140 | 385416 | 1.01% |
| TOTAL INDUSTRIALS |  |  | 632493 | 745206 | 1.96% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Sectors and**<br>**Industries** | <br>**Shares**<br>**Held** | <br>**Company Name** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **COMMON STOCKS:** |  |  |  |  |  |
| INFORMATION TECHNOLOGY |  |  |  |  |  |
| Hardware & Equipment | 535 | CISCO SYSTEMS INC | 20733 | 26038 |  |
|  | 498 | CORNING INC COM | 10201 | 17236 |  |
|  |  |  | 30934 | 43274 | 0.11% |
| Software & Services | 61 | MICROSOFT CORP COM | 8924 | 15116 |  |
|  | 238 | ORACLE CORP COM | 15727 | 21053 |  |
|  |  |  | 24651 | 36169 | 0.09% |
| Technology Hardware & Equipment | 629 | APPLE INC COM | 44179 | 90758 |  |
|  | 2470 | INTEL CORP COM | 101920 | 69802 |  |
|  | 52 | NETAPP INC COM | 2180 | 3444 |  |
|  | 140 | SEAGATE TECHNOLOGY SHS | 5333 | 9489 |  |
|  |  |  | 153612 | 173493 | 0.46% |
| Technology | 1542 | FISERV INC COM | 152103 | 164501 |  |
|  |  |  | 152103 | 164501 | 0.43% |
| TOTAL INFORMATION TECHNOLOGY |  |  | 361300 | 417437 | 1.10% |
| MATERIALS | 500 | BHP GROUP LIMITED | 27434 | 35075 |  |
|  | 158 | CHEMOURS CO COM | 2551 | 5750 |  |
|  | 400 | CVR PARTNERS, LP | 50841 | 39652 |  |
|  | 104 | DOW CHEM CO COM | 5163 | 6172 |  |
|  | 20 | ECOLAB INC COM | 2106 | 3097 |  |
|  | 124 | F M C CORP COM | 9971 | 16508 |  |
|  | 10 | MITSUI & CO LTD SPONSORED | 3643 | 5905 |  |
|  | 500 | RIO TINTO GROUP | 30368 | 39675 |  |
|  | 51 | SEALED AIR CORP NEW | 2833 | 2793 |  |
|  | 600 | SOCIEDAD QUIMICA MINER SPON ADR | 49514 | 58524 |  |
| TOTAL MATERIALS |  |  | 184424 | 213151 | 0.56% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| <br>**Sectors and**<br>**Industries** | <br>**Shares**<br>**Held** | <br>**Company Name** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **COMMON STOCKS:** |  |  |  |  |  |
| REAL ESTATE |  |  |  |  |  |
| Real Estate | 101 | DIGITAL RLTY TR INC COM | 11872 | 11577 |  |
|  | 630 | EASTERLY GOVT PPTYS COM | 12410 | 10231 |  |
|  | 524 | HANNON ARMSTRONG SUST COM | 8023 | 19341 |  |
|  | 840 | IRON MTN INC NEW COM | 34076 | 45847 |  |
|  | 789 | MEDICAL PPTYS TR INC COM | 10742 | 10218 |  |
|  | 104 | OMEGA HEALTHCARE INVS COM | 3026 | 3062 |  |
|  | 157 | TRITON INTL LTD CL A | 8995 | 11090 |  |
|  | 22 | W P CAREY & CO LLC COM | 1405 | 1882 |  |
|  |  |  | 90549 | 113248 | 0.30% |
| REIT | 35 | PROLOGIS TR SH BEN INT | 2889 | 4525 |  |
|  |  |  | 2889 | 4525 | 0.01% |
| TOTAL REAL ESTATE |  |  | 93438 | 117773 | 0.31% |
| UTILITIES | 23 | AMERICAN STS WTR CO COM | 881 | 2166 |  |
|  | 10 | BROOKFIELD INFRASTRUCT SB VTG SHS A |  | 442 |  |
|  | 120 | BROOKFIELD INFRASTRUCTURE | 3556 | 4241 |  |
|  | 1000 | BROOKFIEL RENEWABLE PARTNERS L.P. | 29812 | 29150 |  |
|  | 339 | DOMINION RES INC VA COM | 17456 | 21574 |  |
|  | 174 | DUKE ENERGY CORP COM | 15663 | 17827 |  |
|  | 51 | ENTERGY CORP NEW COM | 3539 | 5522 |  |
|  | 180 | NEXTERA ENERGY INC COM | 13503 | 13433 |  |
|  | 262 | SOUTHERN CO COM | 11431 | 17732 |  |
|  | 116 | WEC ENERGY GROUP INC COM | 4623 | 10903 |  |
| TOTAL UTILITIES |  |  | 100464 | 122990 | 0.32% |
| RIGHTS ATTACHED TO COMMON STOCKS |  |  |  |  |  |
|  | 725 | OCCIDENTAL PETROLEUM CORP COM | - | 31117 |  |
|  |  |  | - | 31117 | 0.08% |
| TOTAL INVESTMENTS IN COMMON STOCKS |  |  | $5118317 | $5940998 | 15.59% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Company Name** |<br>**Contracts**<br>**Held** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **CALL OPTIONS:** |  |  |  |  |
|  |  | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;- | 0.00% |
| TOTAL INVESTMENTS IN OPTIONS |  | $- | $- | 0.00% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Continued) (Unaudited)**

**January 31, 2023**

---

| | | | | | | |
|:---|:---|:---|:---|:---|:---|:---|
| <br>**Company Name** | **Coupon**<br>**Interest**<br>**Rate** | <br>**Maturity**<br>**Date** |<br>**Shares**<br>**Held** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **PREFERRED STOCKS:** |  |  |  |  |  |  |
| COMPASS DIV HOLDINGS FIXED FLTG RAT CUM PFD<sup>4, 5</sup> | 7.875% | N/A | 4000 | $93349 | $100480 |  |
| TOTAL INVESTMENTS IN PREFERRED STOCKS |  |  |  | $93349 | $100480 | 0.26% |

---

**BMC FUND, INC.**

**SCHEDULE OF INVESTMENTS (Concluded) (Unaudited)**

**January 31, 2023**

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | <br>**Company Name** |<br>**Cost** | **Market**<br>**Value** | **Percent of**<br>**Net Assets** |
| Short-term Investments | MFB NI Treasury Money Market Fund | $3393746 | $3393746 | 8.91% |
| TOTAL INVESTMENTS - MARKET VALUE |  |  | 38089448 | 99.96% |
| TOTAL OTHER LIABILITES IN EXCESS OF ASSETS |  |  | 14158 | 0.04% |
| TOTAL NET ASSETS |  |  | $38103606 | 100.00% |

---

<sup>1</sup>In default

<sup>2</sup>Market value ratified by the Fund's Board of Directors per policy.

<sup>3</sup>Non-income producing security

<sup>4</sup>Perpetual security. Maturity date is not applicable.

<sup>5</sup>Variable rate security. The rate shown is the coupon as of the end of the reporting period.

<sup>6</sup>Affiliate Investment

**BMC FUND, INC.**

**SCHEDULE OF OPEN WRITTEN OPTION CONTRACTS (Unaudited)**

**January 31, 2023**

---

| | | | | |
|:---|:---|:---|:---|:---|
| <br>**Company Name** |<br>**Contracts**<br>**Held** |<br>**Cost** |<br>**Market**<br>**Value** | **Percent**<br>**of Net**<br>**Assets** |
| **CALL OPTIONS:** |  |  |  |  |
| TOTAL CALL OPTIONS - LIABILITIES |  | $- | $- | 0.00% |
| **PUT OPTIONS:** |  |  |  |  |
|  |  | - | - |  |
| TOTAL PUT OPTIONS - LIABILITIES |  | - | - | 0.00% |
| TOTAL CALL AND PUT OPTIONS - LIABILITIES |  | $- | $- | 0.00% |

---

BMC FUND, INC.

NOTES TO QUARTERLY SCHEDULE OF INVESTMENTS

January 31, 2023

**1.** **ORGANIZATION** 

BMC Fund, Inc. (the "Company") is a closed-end, diversified investment company registered under the Investment Company Act of 1940, as amended. Prior to becoming a regulated investment company on April 1, 1981, BMC Fund, Inc. operated as a regular corporation. The following is a summary of significant accounting policies followed by the Company in the preparation of its financial statements.

**2.** **SIGNIFICANT ACCOUNTING POLICIES** 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;A. Basis of Presentation – The financial statements have been prepared in conformity with accounting principles generally accepted in the United States of America ("GAAP") as detailed in the Financial Accounting Standards Board's ("FASB") Accounting Standards Codification ("ASC"). The Company also follows the accounting and reporting guidance applicable to investment companies in ASC Topic 946, *Financial Services – Investment Companies.*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;B. Investment Valuations – The investment securities are stated at fair value as determined by closing prices on national securities exchanges or based on inputs other than quoted prices on national securities exchanges.. Investment securities include corporate bonds, mutual funds, and common and preferred stocks.

The investments in limited partnerships, other investments and venture capital are stated at estimated fair value as determined by the management of these investments and are approved by the Company's Valuation Committee after giving consideration to historical and projected financial results, economic conditions, financial condition of investee and other factors and events subject to change, and ratified by the Company's Board of Directors. Because of the inherent uncertainty of those valuations, the estimated values may differ significantly from the values that would have been used had a ready market value for the investments existed, and these differences could be material.

Pursuant to ASC Topic 820, *Fair Value Measurement*, the Fund may elect to use net asset value per share or its equivalent ("NAV") as a practical expedient to measure the Company's interest in certain pooled investment companies at fair value, unless it is probable that the investment will be sold at a value different from its NAV. However, in order for the Company to use this methodology, the investment company must calculate NAV in a manner consistent with the measurement principles established by ASC Topic 820. The Company is using the practical expedient.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;C. Investment Transactions – Investment transactions are accounted for on the date the order to buy or sell is executed. Realized gains and losses on investments are determined on the basis of specific identification of issues sold or matured. Dividend income is recorded on the ex-dividend date and interest income is recorded on the accrual basis. Discounts and premiums on securities purchased are amortized over the lives of the respective securities. Realized gains and losses on foreign currency transactions are included with realized gains and losses on investments.

BMC FUND, INC.

NOTES TO QUARTERLY SCHEDULE OF INVESTMENTS

January 31, 2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;D. Option Writing – When the Company writes an option, an amount equal to the premium received by the Company is recorded as a liability and is subsequently adjusted to the current fair value of the option written. Premiums received from writing options that expire unexercised are treated by the Company on the expiration date as realized gains from investments. The difference between the premium and the amount paid on effecting a closing purchase transaction, including brokerage commissions, is also treated as a realized gain, or, if the premium is less than the amount paid for the closing purchase transaction, as a realized loss. If a call option is exercised, the premium is added to the proceeds from the sale of the underlying security in determining whether the Company has realized a gain or loss. If a put option is exercised, the premium reduces the cost basis of the securities purchased by the Company. The Company as writer of an option bears the market risk of an unfavorable change in the price of the security underlying the written option.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;E. Income Taxes – No federal tax provision is required as it is the Company's policy to comply with the provisions of Subchapter M of the Internal Revenue Code of 1954, as amended, including the distribution to its shareholders of substantially all of its income and any capital gains not offset by capital losses. Also, no state income tax provision has been provided because the states in which the Company has income recognize the tax-exempt status of a regulated investment company.

The Company did not have an accrual for uncertain tax positions as deductions taken and benefits accrued are based on widely understood administrative practices and procedures, and are based on clear and unambiguous tax law. Tax returns for all years 2018 and thereafter are subject to possible future examinations by tax authorities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;F. Dividend Policy – It is the Company's policy to pay dividends during the year in sufficient amounts to meet the requirements to maintain its status as a regulated investment company.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;G. Cash and Short-Term Investments – For purposes of financial reporting, the Company considers all investments at financial institutions with original maturities of three months or less to be equivalent to cash. Short-term money market investments managed by third party investors are included in investment securities.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;H. Use of Estimates – The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.

BMC FUND, INC.

NOTES TO QUARTERLY SCHEDULE OF INVESTMENTS

January 31, 2023

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;I. Fair Value Measurements – Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability (i.e., the "exit price") in an orderly transaction between market participants at the measurement date.

In determining fair value, the Company uses various valuation techniques. A fair value hierarchy for inputs is used in measuring fair value that maximizes the use of observable inputs and minimizes the use of unobservable inputs by requiring that the most observable inputs are to be used when available. Valuation techniques that are consistent with the market or income approach are used to measure fair value. The fair value hierarchy is categorized into three levels based on the inputs as follows:

Level 1 - Valuations based on unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Valuations based on inputs, other than quoted prices included in Level 1, that are observable either directly or indirectly.

Level 3 - Valuations based on inputs that are unobservable and significant to the overall fair value measurement.

Fair value is a market-based measure, based on assumptions of prices and inputs considered from the perspective of a market participant that are current as of the measurement date, rather than an entity-specific measure. Therefore, even when market assumptions are not readily available, the Company's own assumptions are set to reflect those that market participants would use in pricing the asset or liability at the measurement date.

The availability of valuation techniques and observable inputs can vary from investment to investment and are affected by a wide variety of factors, including the type of investment, whether the investment is new and not yet established in the marketplace, the liquidity of markets, and other characteristics particular to the transaction. To the extent that valuation is based on models or inputs that are less observable or unobservable in the market, the determination of fair value requires more judgment. Because of the inherent uncertainty of valuation, those estimated values may be materially higher or lower than the values that would have been used had a ready market for the investments existed. Accordingly, the degree of judgment exercised by the Company in determining fair value is greatest for investments categorized in Level 3. In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, the level in the fair value hierarchy which the fair value measurement falls in its entirety is determined based on the lowest level input that is significant to the fair value measurement.

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

BMC FUND, INC.

NOTES TO QUARTERLY SCHEDULE OF INVESTMENTS

January 31, 2023

The following table summarizes fair value information for assets and liabilities measured on a recurring basis as of January 31, 2023.

---

| | | | | |
|:---|:---|:---|:---|:---|
| Asset Description (1) | Quoted Prices<br> in Active <br> Markets for <br> Identical Assets <br> (Level 1) | Significant<br> Other <br> Observable <br> Inputs<br> (Level 2) | Significant <br> Unobservable <br> Inputs<br> (Level 3) | Total |
| Fixed Income | $1173790 | $- | $- | $1173790 |
| Bond Mutual Funds | 1443814 |  |  | 1443814 |
| Stock Mutual Funds | 1396795 |  |  | 1396795 |
| Common Stocks – Publicly Traded | 5940998 |  |  | 5940998 |
| Preferred Stocks – Publicly Traded | 100480 |  |  | 100480 |
| Cash and Cash Equivalents | 3393746 |  |  | 3393746 |
| Limited Partnerships – Measured at NAV <sup>(1)</sup> | - | - | - | 24639825 |
| Total Investments | $13449623 | $- | $- | $38089448 |

---

<sup>(1)</sup> Certain investments measured at fair value using the net asset value per share (or its equivalent) practical expedient have not been categorized in the fair value hierarchy. The fair value amounts presented in these tables are intended to permit reconciliation of the fair value hierarchy to the amounts presented in the Schedule of Investments.

**3.** **UNREALIZED APPRECIATION AND DEPRECIATION ON INVESTMENTS (tax basis)** 

The amount of net unrealized appreciation (depreciation) and the cost of investment securities for tax purposes, including short-term securities as January 31, 2023, were as follows:

---

| | |
|:---|:---|
| Gross appreciation (excess of value over tax cost) | $12865118 |
| Gross depreciation (excess of tax cost over value) | (4220565) |
| &nbsp;&nbsp;&nbsp;Net unrealized appreciation | $8644553 |
| Cost of investments for income tax purposes | $29444895 |

---

**4.** **OPTIONS WRITTEN** 

The Company did not have any cash or securities pledged as collateral for written options and there were no outstanding written options at January 31, 2023.

**5.** **IMPAIRED SECURITIES** 

Selected securities at the end of the year have significant investment impairment issues. These selected securities have an aggregate cost basis of $3,699,456 and have been assigned no value at January 31, 2023.

## Form NPORT-P: Monthly Portfolio Investments Report

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

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

- **a. Name of Registrant:** BMC FUND INC

- **b. Investment Company Act file number:** 811-03150

- **c. CIK number of Registrant:** 0000351786

- **d. LEI of Registrant:** 549300TFI04B3BMUV507

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

  - **Street Address 1:** 800 Hickory Blvd. SW

  - **City:** Lenoir

  - **State:** NC

  - **Foreign country:** US

  - **Zip / Postal Code:** 28645

  - **Telephone number:** 828-758-6100

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

- **a. Name of Series:** BMC FUND INC

- **c. LEI of Series:** 549300TFI04B3BMUV507

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

- **a. Date of fiscal year-end:** 2023-10-30

- **b. Date as of which information is reported:** 2023-01-31

**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:** $38187138.00

**Total Liabilities:** $83532.00

**Net Assets:** $38103606.00

**Delayed Delivery Securities:** $17994.00

**Cash Not Reported:** $3403150.97

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000000000 | 1.55%                | -0.67%               | 3.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $59180.31                | $528554.75                                 |
| Month 2  | $226918.89               | $555075.16                                 |
| Month 3  | $1031227.04              | $167710.12                                 |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|:---|:---|
| N/A    | ALTRIA GROUP INC COM                                        | CUSIP: 02209S103<br>LEI: N/A | Long             | EC               | CORP              | US        |      8619 | NS      | $388199.76    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | PHILIP MORRIS INTL COM                                      | CUSIP: 718172109<br>LEI: N/A | Long             | EC               | CORP              | US        |      5297 | NS      | $552159.28    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | PRICE T ROWE GROUP INC COM                                  | CUSIP: 74144T108<br>LEI: N/A | Long             | EC               | CORP              | US        |        17 | NS      | $1979.99      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | PROCTER & GAMBLE COM NPV                                    | CUSIP: 742718109<br>LEI: N/A | Long             | EC               | CORP              | US        |        11 | NS      | $1566.18      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | PROLOGIS TR SH BEN INT                                      | CUSIP: 74340W103<br>LEI: N/A | Long             | EC               | CORP              | US        |        35 | NS      | $4524.80      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | QUEST DIAGNOSTICS INC COM                                   | CUSIP: 74834L100<br>LEI: N/A | Long             | EC               | CORP              | US        |       206 | NS      | $30586.88     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | RIO TINTO GROUP                                             | CUSIP: 204412209<br>LEI: N/A | Long             | EC               | CORP              | GB        |       500 | NS      | $39675.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SEAGATE TECHNOLOGY SHS                                      | CUSIP: G7945J104<br>LEI: N/A | Long             | EC               | CORP              | US        |       140 | NS      | $9489.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SEALED AIR CORP NEW                                         | CUSIP: 81211K100<br>LEI: N/A | Long             | EC               | CORP              | US        |        51 | NS      | $2792.76      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SEATTLE GENETICS INC COM                                    | CUSIP: 812578102<br>LEI: N/A | Long             | EC               | CORP              | US        |        52 | NS      | $7252.96      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SK TELECOM LTD SPONSORED ADR                                | CUSIP: 78440P108<br>LEI: N/A | Long             | EC               | CORP              | KR        |        63 | NS      | $1336.29      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | AMBEV SA SPONSORED ADR                                      | CUSIP: 02319V103<br>LEI: N/A | Long             | EC               | CORP              | BR        |    104590 | NS      | $278209.40    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SOCIEDAD QUIMICA MINER SPON ADR SER B                       | CUSIP: 833635105<br>LEI: N/A | Long             | EC               | CORP              | US        |       600 | NS      | $58524.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SOUTHERN CO COM STK                                         | CUSIP: 842587107<br>LEI: N/A | Long             | EC               | CORP              | US        |       262 | NS      | $17732.16     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | STARWOOD PROPERTY TRUST INC COM REIT                        | CUSIP: 85571B105<br>LEI: N/A | Long             | EC               | CORP              | US        |       667 | NS      | $13933.63     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | STRYKER CORP                                                | CUSIP: 863667101<br>LEI: N/A | Long             | EC               | CORP              | US        |        24 | NS      | $6091.44      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | STURM RUGER & CO INC COM                                    | CUSIP: 864159108<br>LEI: N/A | Long             | EC               | CORP              | US        |        79 | NS      | $4495.10      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SUNOCO LP COM                                               | CUSIP: 86765K109<br>LEI: N/A | Long             | EC               | CORP              | US        |       473 | NS      | $22576.29     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SVB FINANCIAL GROUP COM                                     | CUSIP: 78486Q101<br>LEI: N/A | Long             | EC               | CORP              | SE        |         1 | NS      | $302.44       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | TELEFONICA S A SPONSORED ADR                                | CUSIP: 879382208<br>LEI: N/A | Long             | EC               | CORP              | ES        |       377 | NS      | $1447.68      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | TRAVELERS COS INC COM STK                                   | CUSIP: 89417E109<br>LEI: N/A | Long             | EC               | CORP              | US        |       129 | NS      | $24654.48     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | TRITON INTL LTD CL A                                        | CUSIP: G9078F107<br>LEI: N/A | Long             | EC               | CORP              | US        |       157 | NS      | $11090.48     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | AMERICAN STS WTR CO COM                                     | CUSIP: 029899101<br>LEI: N/A | Long             | EC               | CORP              | US        |        23 | NS      | $2165.91      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | TRUIST FINL CORP COM                                        | CUSIP: 89832Q109<br>LEI: N/A | Long             | EC               | CORP              | US        |       394 | NS      | $19459.66     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | W P CAREY INC COM                                           | CUSIP: 92936U109<br>LEI: N/A | Long             | EC               | CORP              | US        |        22 | NS      | $1881.66      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | WAL-MART STORES INC COM                                     | CUSIP: 931142103<br>LEI: N/A | Long             | EC               | CORP              | US        |        76 | NS      | $10934.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | WASTE MGMT INC DEL COM STK                                  | CUSIP: 94106L109<br>LEI: N/A | Long             | EC               | CORP              | US        |        24 | NS      | $3713.52      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | WEC ENERGY GROUP INC COM                                    | CUSIP: 92939U106<br>LEI: N/A | Long             | EC               | CORP              | US        |       116 | NS      | $10902.84     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | WHIRLPOOL CORP COM                                          | CUSIP: 963320106<br>LEI: N/A | Long             | EC               | CORP              | US        |        20 | NS      | $3111.80      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ZURICH INS GROUP LTD SPONSORED ADR                          | CUSIP: 989825104<br>LEI: N/A | Long             | EC               | CORP              | CH        |       263 | NS      | $13005.35     | 0.00%             |  |  |  | No            | 2                  | On Loan: No      |
| N/A    | ANHEUSER-BUSCH INBEV SA/NV                                  | CUSIP: 757473103<br>LEI: N/A | Long             | EC               | CORP              | BE        |      1958 | NS      | $118047.82    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | COMPASS DIV HOLDINGS FIXED FLTG RA                          | CUSIP: 20451Q302<br>LEI: N/A | Long             | EP               | CORP              | US        |      4000 | NS      | $100480.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MFC BLACKROCK TAXABLE MUNCIPAL BOND TRUST                   | CUSIP: 09248X100<br>LEI: N/A | Long             | EC               | CORP              | US        |     50645 | NS      | $913635.80    | 0.02%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MFC GUGGENHEIM TAXABLE MUN MANAGED DU                       | CUSIP: 401664107<br>LEI: N/A | Long             | EC               | CORP              | US        |     30699 | NS      | $534157.73    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | AON PLC SHS CL A                                            | CUSIP: 00BLP1HW5<br>LEI: N/A | Long             | EC               | CORP              | US        |        79 | NS      | $25175.72     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ADVISORS SER TR PZENA EMG MK INS                            | CUSIP: 00770X675<br>LEI: N/A | Long             | EC               | CORP              | US        |     25492 | NS      | $291629.17    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ISHARES SILVER TRUST                                        | CUSIP: 46428Q109<br>LEI: N/A | Long             | EC               | CORP              | US        |      1252 | NS      | $27331.16     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | NEXPOINT MERGER ARBITRAGE FUND                              | CUSIP: 430101642<br>LEI: N/A | Long             | EC               | CORP              | US        |     51105 | NS      | $1012904.67   | 0.03%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | SPDR GOLD SHARES                                            | CUSIP: 78463V107<br>LEI: N/A | Long             | EC               | CORP              | US        |       260 | NS      | $46646.60     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | VANECK VECTORS GOLD MINERS ETF                              | CUSIP: 92189F106<br>LEI: N/A | Long             | EC               | CORP              | US        |       571 | NS      | $18283.42     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | APPLE INC COM STK                                           | CUSIP: 037833100<br>LEI: N/A | Long             | EC               | CORP              | US        |       629 | NS      | $90758.41     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | LEHMAN BROS HLDGS INC EAFE - 0 DUE 12-31-2040 IN ESCROW     | CUSIP: 524ESC9Z5<br>LEI: N/A | Long             | DBT              | CORP              | US        |   1000000 | PA      | $0.00         | 0.00%             | 2040-12-31      | Fixed         | 0.00%                 | No            | 1                  | On Loan: No      |
| N/A    | LEHMAN BROS HLDGS INC MID-TERM - 0 DUE 12-31-2040 IN ESCROW | CUSIP: 525ESC1G4<br>LEI: N/A | Long             | DBT              | CORP              | US        |   2500000 | PA      | $0.00         | 0.00%             | 2040-12-31      | Fixed         | 0.00%                 | No            | N/A                | On Loan: No      |
| N/A    | LEHMAN BROS HLDGS INC NIKKEI - 0 DUE 12-31-2040 IN ESCROW   | CUSIP: 524ESC9Z5<br>LEI: N/A | Long             | DBT              | CORP              | US        |   3000000 | PA      | $0.00         | 0.00%             | 2040-12-31      | Fixed         | 0.00%                 | No            | N/A                | On Loan: No      |
| N/A    | FIRST CITIZENS FIXED 5.8% Due 12-31-2049                    | CUSIP: 31959XAA1<br>LEI: N/A | Long             | DBT              | CORP              | US        |    250000 | PA      | $251022.27    | 0.01%             | 2049-12-31      | Variable      | 5.80%                 | No            | N/A                | On Loan: No      |
| N/A    | ASTRAZENECA PLC SPONSORED ADR UK                            | CUSIP: 046353108<br>LEI: N/A | Long             | EC               | CORP              | GB        |       524 | NS      | $34253.88     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FPL GROUP CAP INC                                           | CUSIP: 302570AW6<br>LEI: N/A | Long             | DBT              | CORP              | US        |    586000 | PA      | $498100.00    | 0.01%             | 2066-10-01      | Variable      | 6.35%                 | No            | 1                  | On Loan: No      |
| N/A    | PPL CAP FDG INC FRN 03-30-2067                              | CUSIP: 69352PAC7<br>LEI: N/A | Long             | DBT              | CORP              | US        |    250000 | PA      | $219430.00    | 0.01%             | 2067-03-30      | Variable      | 5.05%                 | No            | 1                  | On Loan: No      |
| N/A    | TRANSCANADA PIPELINES LTD                                   | CUSIP: 89352HAC3<br>LEI: N/A | Long             | DBT              | CORP              | US        |    250000 | PA      | $205237.50    | 0.01%             | 2067-05-15      | Variable      | 6.35%                 | No            | 1                  | On Loan: No      |
| N/A    | Accelleron Industries AG ADR                                | CUSIP: 00449R109<br>LEI: N/A | Long             | EC               | CORP              | CH        |        10 | NS      | $233.00       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BAM CREDIT OPPORTUNITIES FUND                               | CUSIP: 993TAL991<br>LEI: N/A | Long             |  | CORP              | US        |    700000 | NS      | $794094.00    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | ELLIOTT ASSOC LP CL A                                       | CUSIP: 9924MD992<br>LEI: N/A | Long             |  | CORP              | US        |    999999 | NS      | $5912315.00   | 0.16%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | GRAHAM INSTITUTIONAL PARTNERS, LP                           | CUSIP: 9929PX994<br>LEI: N/A | Long             |  | CORP              | US        |   2365123 | NS      | $2969734.00   | 0.08%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | GREENLIGHT MASTERS QUALIFIED, LP                            | CUSIP: 9916NT992<br>LEI: N/A | Long             |  | CORP              | US        |    500000 | NS      | $2747935.00   | 0.07%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | INFINITY PREMIER FUND, L.P.                                 | CUSIP: 991UGW990<br>LEI: N/A | Long             |  | CORP              | US        |    500000 | NS      | $2244347.00   | 0.06%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | LITESPEED PARTNERS LP, LMTD                                 | CUSIP: 991UFN991<br>LEI: N/A | Long             |  | CORP              | US        |         1 | NS      | $28316.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | MORROCROFT SPECIAL OPPORTUNITY FUND II LP                   | CUSIP: 9919EY995<br>LEI: N/A | Long             |  | CORP              | US        |    508329 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | MUDRICK DISTRESSED OPP SPEC FUND, L.P.                      | CUSIP: 74909E106<br>LEI: N/A | Long             |  | CORP              | US        |   3622811 | NS      | $4780970.00   | 0.13%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | BANK OF AMERICA CORP                                        | CUSIP: 060505104<br>LEI: N/A | Long             | EC               | CORP              | US        |       263 | NS      | $9331.24      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | OAKTREE ENHANCED INCOME FUND II, LP                         | CUSIP: 991RWS998<br>LEI: N/A | Long             |  | CORP              | US        |     78291 | NS      | $24571.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | OLD WELL EMERGING MARKETS FUND, L.P.                        | CUSIP: 992Q15993<br>LEI: N/A | Long             |  | CORP              | US        |   1000000 | NS      | $770121.00    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | OLD WELL SPECIAL OPPORTUNITIES FUND II,LLC                  | CUSIP: 992Q15993<br>LEI: N/A | Long             |  | CORP              | US        |    200000 | NS      | $199365.00    | 0.01%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | PRIVET FUND LP                                              | CUSIP: 991AA7995<br>LEI: N/A | Long             |  | CORP              | US        |         1 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | SEGRA RESOURCE ONSHORE PARTNERS, L.P.                       | CUSIP: 992QZ8990<br>LEI: N/A | Long             |  | CORP              | US        |    250000 | NS      | $912670.00    | 0.02%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | SJC ONSHORE DIRECT LENDING FUND IV-5 YR LP                  | CUSIP: 993PLC997<br>LEI: N/A | Long             |  | CORP              | US        |   2015412 | NS      | $2025775.00   | 0.05%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | VIRGO SOCIETAS III (ONSHORE), LP                            | CUSIP: 991JQY990<br>LEI: N/A | Long             |  | CORP              | US        |   2139187 | NS      | $106915.00    | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | WORLDWIDE OPPOR FUND A-A1                                   | CUSIP: 686994F41<br>LEI: N/A | Long             |  | CORP              | US        |      1550 | NS      | $1122697.00   | 0.03%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | BAYER A G SPONSORED ADR                                     | CUSIP: 072730302<br>LEI: N/A | Long             | EC               | CORP              | DE        |      6494 | NS      | $101176.52    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | WALNUT INVESTMENT PARTNERS LP                               | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |    235567 | NS      | $0.00         | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| n/a    | OCCIDENTAL PETE CORP COM                                    | CUSIP: N/A<br>LEI: N/A       | Long             |  | CORP              | US        |       725 | NS      | $31117.00     | 0.00%             |  |  |  | No            | N/A                | On Loan: No      |
| N/A    | BCE INC COM                                                 | CUSIP: 05534B760<br>LEI: N/A | Long             | EC               | CORP              | CA        |       238 | NS      | $11257.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BERKSHIRE HATHAWAY INC CL B                                 | CUSIP: 084670702<br>LEI: N/A | Long             | EC               | CORP              | US        |       179 | NS      | $55762.08     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BHP GROUP LIMITED                                           | CUSIP: 088606108<br>LEI: N/A | Long             | EC               | CORP              | AU        |       500 | NS      | $35075.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BLACKSTONE GROUP L P COM UNIT RE                            | CUSIP: 09253U108<br>LEI: N/A | Long             | EC               | CORP              | US        |       756 | NS      | $72545.76     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BRISTOL MYERS SQUIBB CO COM                                 | CUSIP: 110122108<br>LEI: N/A | Long             | EC               | CORP              | US        |        79 | NS      | $5739.35      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BROOKFIELD ASSET MANAGEMENT                                 | CUSIP: 113004105<br>LEI: N/A | Long             | EC               | CORP              | CA        |         3 | NS      | $97.95        | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BROOKFIELD CORPORATION                                      | CUSIP: 11271J107<br>LEI: N/A | Long             | EC               | CORP              | CA        |        14 | NS      | $520.80       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BROOKFIELD INFRASTRUCT COM SB VTG SHS A                     | CUSIP: 11275Q107<br>LEI: N/A | Long             | EC               | CORP              | CA        |        10 | NS      | $442.20       | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BROOKFIELD INFRASTRUCTURE PARTNERS, LP                      | CUSIP: G16252101<br>LEI: N/A | Long             | EC               | CORP              | CA        |       120 | NS      | $4240.80      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | BROOKFIELD RENEWABLE PARTNERS L.P.                          | CUSIP: G16258108<br>LEI: N/A | Long             | EC               | CORP              | US        |      1000 | NS      | $29150.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CAESARS ENTERTAINMENT COM                                   | CUSIP: 12769G100<br>LEI: N/A | Long             | EC               | CORP              | US        |        79 | NS      | $4112.74      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CARDINAL HEALTH INC COM                                     | CUSIP: 14149Y108<br>LEI: N/A | Long             | EC               | CORP              | US        |      1987 | NS      | $153495.75    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CARLYLE GROUP L P COM                                       | CUSIP: 14309L102<br>LEI: N/A | Long             | EC               | CORP              | US        |       420 | NS      | $15107.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CHEMOURS CO COM                                             | CUSIP: 163851108<br>LEI: N/A | Long             | EC               | CORP              | US        |       158 | NS      | $5749.62      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CHENIERE ENERGY, INC.                                       | CUSIP: 16411R208<br>LEI: N/A | Long             | EC               | CORP              | US        |       250 | NS      | $38197.50     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CISCO SYSTEMS INC                                           | CUSIP: 17275R102<br>LEI: N/A | Long             | EC               | CORP              | US        |       535 | NS      | $26038.45     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CME GROUP INC COM STK                                       | CUSIP: 12572Q105<br>LEI: N/A | Long             | EC               | CORP              | US        |        36 | NS      | $6359.76      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | COCA COLA CO COM                                            | CUSIP: 191216100<br>LEI: N/A | Long             | EC               | CORP              | MX        |       104 | NS      | $6377.28      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | COCA COLA FEMSA S A B SPON ADR REP L                        | CUSIP: 191241108<br>LEI: N/A | Long             | EC               | CORP              | US        |      5531 | NS      | $421351.58    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | COMPASS DIVERSIFIED HOLDINGS LLC                            | CUSIP: 20451Q104<br>LEI: N/A | Long             | EC               | CORP              | US        |       263 | NS      | $5870.16      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | 3M CO COM                                                   | CUSIP: 88579Y101<br>LEI: N/A | Long             | EC               | CORP              | US        |       453 | NS      | $52131.24     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CONSTELLATION BRANDS INC CL A CL A                          | CUSIP: 21036P108<br>LEI: N/A | Long             | EC               | CORP              | US        |        78 | NS      | $18058.56     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CORNING INC COM                                             | CUSIP: 219350105<br>LEI: N/A | Long             | EC               | CORP              | US        |       498 | NS      | $17235.78     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CVR ENERGY, INC.                                            | CUSIP: 12662P108<br>LEI: N/A | Long             | EC               | CORP              | US        |      1200 | NS      | $39840.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | CVR PARTNERS, LP                                            | CUSIP: 126633205<br>LEI: N/A | Long             | EC               | CORP              | US        |       400 | NS      | $39652.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Crestwood Equity Partners LP                                | CUSIP: 226344208<br>LEI: N/A | Long             | EC               | CORP              | US        |       159 | NS      | $4277.10      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DAVITA INC COM                                              | CUSIP: 23918K108<br>LEI: N/A | Long             | EC               | CORP              | US        |       157 | NS      | $12935.23     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DELEK LOGISTICS PARTNERS LP COM UNITRE                      | CUSIP: 24664T103<br>LEI: N/A | Long             | EC               | CORP              | US        |       181 | NS      | $9156.79      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DEVON ENERGY CORP NEW COM                                   | CUSIP: 25179M103<br>LEI: N/A | Long             | EC               | CORP              | US        |       500 | NS      | $31620.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DIGITAL RLTY TR INC COM                                     | CUSIP: 253868103<br>LEI: N/A | Long             | EC               | CORP              | US        |       101 | NS      | $11576.62     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DOLLAR GEN CORP NEW COM                                     | CUSIP: 256677105<br>LEI: N/A | Long             | EC               | CORP              | US        |       100 | NS      | $23360.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ABB LTD SPONSORED ADR                                       | CUSIP: 000375204<br>LEI: N/A | Long             | EC               | CORP              | CH        |       208 | NS      | $7248.80      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DOLLAR TREE INC COM STK                                     | CUSIP: 256746108<br>LEI: N/A | Long             | EC               | CORP              | US        |      1292 | NS      | $194032.56    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DOMINION ENERGY INC COM STK NPV                             | CUSIP: 25746U109<br>LEI: N/A | Long             | EC               | CORP              | US        |       339 | NS      | $21573.96     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DOW CHEM CO COM                                             | CUSIP: 260543103<br>LEI: N/A | Long             | EC               | CORP              | US        |       104 | NS      | $6172.40      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | DUKE ENERGY CORP NEW COM NEW COM NEW                        | CUSIP: 26441C204<br>LEI: N/A | Long             | EC               | CORP              | US        |       174 | NS      | $17826.64     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | EASTERLY GOVERNMENT PROPERTI COMMON STOCK                   | CUSIP: 27616P103<br>LEI: N/A | Long             | EC               | CORP              | US        |       630 | NS      | $10231.20     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ECOLAB INC COM STK USD1                                     | CUSIP: 278865100<br>LEI: N/A | Long             | EC               | CORP              | US        |        20 | NS      | $3096.60      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ELI LILLY & CO COM                                          | CUSIP: 532457108<br>LEI: N/A | Long             | EC               | CORP              | CA        |       135 | NS      | $46460.25     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ENBRIDGE INC                                                | CUSIP: 29250N105<br>LEI: N/A | Long             | EC               | CORP              | US        |       630 | NS      | $25811.10     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ENTERGY CORP NEW COM                                        | CUSIP: 29364G103<br>LEI: N/A | Long             | EC               | CORP              | US        |        51 | NS      | $5522.28      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | EXPEDITORS INTL WASH COM                                    | CUSIP: 302130109<br>LEI: N/A | Long             | EC               | CORP              | US        |        21 | NS      | $2271.15      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ABBVIE INC COM USD0.01                                      | CUSIP: 00287Y109<br>LEI: N/A | Long             | EC               | CORP              | US        |       180 | NS      | $26595.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | F M C CORP COM NEW                                          | CUSIP: 302491303<br>LEI: N/A | Long             | EC               | CORP              | US        |       124 | NS      | $16508.12     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FISERV INC COM                                              | CUSIP: 337738108<br>LEI: N/A | Long             | EC               | CORP              | US        |      1542 | NS      | $164500.56    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FOMENTO ECONOMICO MEXI SPON ADR UNITS                       | CUSIP: 344419106<br>LEI: N/A | Long             | EC               | CORP              | MX        |      1602 | NS      | $140655.60    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FORTRESS TRANS INFRST COM REP LTD LIAB                      | CUSIP: G3730V105<br>LEI: N/A | Long             | EC               | CORP              | KY        |       313 | NS      | $6998.68      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FREEHOLD ROYALTIES, LTD                                     | CUSIP: 356500108<br>LEI: N/A | Long             | EC               | CORP              | US        |      1500 | NS      | $18090.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | FTAI Infrastruture Inc.                                     | CUSIP: 35953C106<br>LEI: N/A | Long             | EC               | CORP              | US        |       313 | NS      | $1036.03      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Flex LNG Ltd.                                               | CUSIP: G35947202<br>LEI: N/A | Long             | EC               | CORP              | NO        |      2000 | NS      | $62200.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | GENERAL MILLS INC COM                                       | CUSIP: 370334104<br>LEI: N/A | Long             | EC               | CORP              | US        |        23 | NS      | $1802.28      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | GENUINE PARTS CO COM                                        | CUSIP: 372460105<br>LEI: N/A | Long             | EC               | CORP              | US        |        21 | NS      | $3524.22      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | GOLUB CAPITAL BDC INC COM                                   | CUSIP: 38173M102<br>LEI: N/A | Long             | EC               | CORP              | US        |       918 | NS      | $12576.60     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ACTIVISION BLIZZARD, INC.                                   | CUSIP: 004930202<br>LEI: N/A | Long             | EC               | CORP              | US        |      4007 | NS      | $306815.99    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | GRAHAM HLDGS CO COM CL B                                    | CUSIP: 384637104<br>LEI: N/A | Long             | EC               | CORP              | US        |         3 | NS      | $1959.93      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | GRUPO AEROPORTUARIO DE SPON ADR                             | CUSIP: 400501102<br>LEI: N/A | Long             | EC               | CORP              | MX        |      1539 | NS      | $112423.95    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | GRUPO AEROPORTUARIO DE SPON ADR SER B                       | CUSIP: 40051E202<br>LEI: N/A | Long             | EC               | CORP              | MX        |       465 | NS      | $126480.00    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | GRUPO AEROPUERTO DEL P SPON ADR B                           | CUSIP: 400506101<br>LEI: N/A | Long             | EC               | CORP              | MX        |       849 | NS      | $146511.93    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | HANNON ARMSTRONG SUSTAINABLE IN                             | CUSIP: 41068X100<br>LEI: N/A | Long             | EC               | CORP              | US        |       524 | NS      | $19340.84     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | HOLOGIC INC COM                                             | CUSIP: 436440101<br>LEI: N/A | Long             | EC               | CORP              | US        |       365 | NS      | $29700.05     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | INTEL CORP COM                                              | CUSIP: 458140100<br>LEI: N/A | Long             | EC               | CORP              | US        |      2470 | NS      | $69802.20     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | INTERCONTINENTAL EXCHANGE INC COM                           | CUSIP: 45866F104<br>LEI: N/A | Long             | EC               | CORP              | US        |        51 | NS      | $5485.05      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IQVIA HOLDINGS INC COM                                      | CUSIP: 46266C105<br>LEI: N/A | Long             | EC               | CORP              | US        |        20 | NS      | $4588.20      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | IRON MTN INC NEW COM                                        | CUSIP: 46284V101<br>LEI: N/A | Long             | EC               | CORP              | US        |       840 | NS      | $45847.20     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ALLIANCEBERNSTEIN HLDG L P UNIT LTD PA                      | CUSIP: 01881G106<br>LEI: N/A | Long             | EC               | CORP              | US        |      1312 | NS      | $49737.92     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | KIMBERLY CLARK CORP COM                                     | CUSIP: 494368103<br>LEI: N/A | Long             | EC               | CORP              | US        |       126 | NS      | $16381.26     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | KROGER CO COM                                               | CUSIP: 501044101<br>LEI: N/A | Long             | EC               | CORP              | US        |       131 | NS      | $5846.53      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | LABORATORY CORP AMERICA HLDGS                               | CUSIP: 50540R409<br>LEI: N/A | Long             | EC               | CORP              | US        |        48 | NS      | $12101.76     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | LOCKHEED MARTIN CORP COM                                    | CUSIP: 539830109<br>LEI: N/A | Long             | EC               | CORP              | US        |       608 | NS      | $281662.08    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | Lumen Technologies, Inc                                     | CUSIP: 550241103<br>LEI: N/A | Long             | EC               | CORP              | US        |      2500 | NS      | $13125.00     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MCKESSON CORP                                               | CUSIP: 58155Q103<br>LEI: N/A | Long             | EC               | CORP              | US        |       306 | NS      | $115876.08    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MEDICAL PPTYS TR INC COM REIT                               | CUSIP: 58463J304<br>LEI: N/A | Long             | EC               | CORP              | US        |       789 | NS      | $10217.55     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MERCK & CO INC NEW COM                                      | CUSIP: 58933Y105<br>LEI: N/A | Long             | EC               | CORP              | US        |        79 | NS      | $8485.39      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | META PLATFORMS, INC.                                        | CUSIP: 30303M102<br>LEI: N/A | Long             | EC               | CORP              | US        |       765 | NS      | $113962.05    | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MICROSOFT CORP COM                                          | CUSIP: 594918104<br>LEI: N/A | Long             | EC               | CORP              | US        |        61 | NS      | $15116.41     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ALPHABET INC CAP STK CL C                                   | CUSIP: 02079K107<br>LEI: N/A | Long             | EC               | CORP              | US        |       740 | NS      | $73903.80     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MITSUI & CO LTD SPONSORED ADR                               | CUSIP: 606827202<br>LEI: N/A | Long             | EC               | CORP              | JP        |        10 | NS      | $5905.00      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | MORGAN STANLEY COM NEW                                      | CUSIP: 617446448<br>LEI: N/A | Long             | EC               | CORP              | US        |        52 | NS      | $5061.16      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | NETAPP INC COM                                              | CUSIP: 64110D104<br>LEI: N/A | Long             | EC               | CORP              | US        |        52 | NS      | $3443.96      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | NETFLIX COM INC COM                                         | CUSIP: 64110L106<br>LEI: N/A | Long             | EC               | CORP              | US        |       116 | NS      | $41047.76     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | NEXTERA ENERGY INC COM                                      | CUSIP: 65339F101<br>LEI: N/A | Long             | EC               | CORP              | US        |       180 | NS      | $13433.40     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | NINTENDO LTD ADR                                            | CUSIP: 654445303<br>LEI: N/A | Long             | EC               | CORP              | JP        |      8760 | NS      | $94345.20     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | OLD REP INTL CORP COM                                       | CUSIP: 680223104<br>LEI: N/A | Long             | EC               | CORP              | US        |       263 | NS      | $6940.57      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | OMEGA HEALTHCARE INVS INC REIT                              | CUSIP: 681936100<br>LEI: N/A | Long             | EC               | CORP              | US        |       104 | NS      | $3061.76      | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | ORACLE CORP COM                                             | CUSIP: 68389X105<br>LEI: N/A | Long             | EC               | CORP              | US        |       238 | NS      | $21053.48     | 0.00%             |  |  |  | No            | 1                  | On Loan: No      |
| N/A    | PFIZER INC COM                                              | CUSIP: 717081103<br>LEI: N/A | Long             | EC               | CORP              | US        |      5783 | NS      | $255377.28    | 0.01%             |  |  |  | No            | 1                  | On Loan: No      |

### Signature

**Date Signed:** 2023-03-13

**Name of Applicant:** BMC Fund, Inc.

**Signature:** Alan Deal

**Name of Signer:** Alan Deal

**Title:** Treasurer