NPORT-P
false
0000836267
XXXXXXXX
S000067902
C000217713
C000217714
SCM Trust
811-05617
0000836267
254900SUSEM61EA08I06
1875 Lawrence Street, Suite 300
Denver
80202-1805
800-955-9988
ICON FLEXIBLE BOND FUND
S000067902
254900OVC0U9M07MEL63
2021-12-31
2021-09-30
N
145650913.63
1085310.72
144565602.91
0
0
0
0
0
0
0
0
0
0
0
0
0
0
USD
Air Canada Pass Through Certificates, Series 2015-1
4B4HI3CGXMBDC0G6BM51
ACACN 3.875 03/15/23 144A
009090AB7
820928.01
PA
USD
830079.88
0.5741890625
Long
ABS-O
CORP
CA
Y
2
2024-09-15
Fixed
3.875
N
N
N
N
N
N
Andeavor LLC
CMTK1YBYNLPLIS3QLI53
ANDEAV 5.125 12/15/26
03349MAD7
4000000
PA
USD
4518852.64
3.125814543
Long
DBT
CORP
US
N
2
2026-12-15
Fixed
5.125
N
N
N
N
N
N
Annaly Capital Management, Inc.
2DTL0G3FPRYUT58TI025
Annaly Capital Management, Inc. COM USD0.01
035710409
361066
NS
USD
3040175.72
2.1029730854
Long
EC
CORP
US
N
1
N
N
N
Apollo Tactical Income Fd Inc
549300JOTMM1DVBHF402
Apollo Tactical Income Fd Inc COM USD0.001
037638103
15351
NS
USD
242852.82
0.1679879689
Long
EC
RF
US
N
1
N
N
N
Argo Group US, Inc.
N/A
Argo Group US, Inc. 6.5% SENIOR UNSECURED FIXED RATE NOTES DUE 2042
040130205
163797
NS
USD
4275101.7
2.9572053199
Long
EP
CORP
US
N
1
N
N
N
BAC Capital Trust XIV
549300QO5OB3VGJT6S64
BAC V0 PERP G
05518VAA3
1850000
PA
USD
1850005.42
1.2796995847
Long
DBT
CORP
US
N
2
2500-12-31
Floating
4
N
N
N
N
N
Bank of America Corporation
9DJT3UXIJIZJI4WXO774
Bank of America Corporation 7.25% NON-CUM PERP CONV PFD SER L
060505682
3443
NS
USD
4966252.06
3.4352930158
Long
EP
CORP
US
N
1
N
N
N
BWAY Holding Company
549300DNGHXL0OMHW304
BWY 5.5 04/15/24 144A
12429TAD6
1500000
PA
USD
1513125
1.0466701411
Long
DBT
CORP
US
Y
2
2024-04-15
Fixed
5.5
N
N
N
N
N
N
Calumet Specialty Products Partners LP / Calumet Finance Corp
529900QWK0FGLES9BA18
CLMT 7.625 01/15/22
131477AL5
1065065
PA
USD
1059739.68
0.7330510569
Long
DBT
CORP
US
N
2
2022-01-15
Fixed
7.625
N
N
N
N
N
Cincinnati Bell Telephone Company
N/A
CBB 6.3 12/01/28
171875AD9
2280000
PA
USD
2519400
1.7427382097
Long
DBT
CORP
US
N
2
2028-12-01
Fixed
6.3
N
N
N
N
N
N
Conagra Brands Inc
54930035UDEIH090K650
CAG 7.125 10/01/26
205887AF9
1150000
PA
USD
1430461.51
0.9894895336
Long
DBT
CORP
US
N
2
2026-10-01
Fixed
7.125
N
N
N
N
N
N
Cooke Omega Investments Inc / Alpha Vesselco Holdings Inc
N/A
CKEALP 8.5 12/15/22 144A
21627UAA0
4000000
PA
USD
4070000
2.8153308381
Long
DBT
CORP
CA
Y
2
2022-12-15
Fixed
8.5
N
N
N
N
N
N
Cooper-Standard Automotive Inc.
ITCH5B3Q4RTX2PH9UN62
CPS 13 06/01/24 144A
216762AG9
1000000
PA
USD
1100000
0.7609002265
Long
DBT
CORP
US
Y
2
2024-06-01
Fixed
13
N
N
N
N
N
N
Credit Acceptance Corporation of Michigan
N/A
CACC 6.625 03/15/26
225310AM3
2000000
PA
USD
2090000
1.4457104304
Long
DBT
CORP
US
N
2
2026-03-15
Fixed
6.625
N
N
N
N
N
N
CVR Partners, LP and CVR Nitrogen Finance Corporation
529900LE0OS06MYQRP11
UAN 9.25 06/15/23 144A
12663QAA3
306000
PA
USD
306765
0.21219778
Long
DBT
CORP
US
Y
2
2023-06-15
Fixed
9.25
N
N
N
N
N
N
Dell International L.L.C. and EMC Corporation
N/A
DELL 6.1 07/15/27
24703TAF3
4612000
PA
USD
5718308.57
3.9555111693
Long
DBT
CORP
US
N
2
2027-07-15
Fixed
6.1
N
N
N
N
N
N
Dell International L.L.C. and EMC Corporation
N/A
DELL 7.125 06/15/24 144A
25272KAW3
1352000
PA
USD
1382602.52
0.9563841551
Long
DBT
CORP
US
Y
2
2024-06-15
Fixed
7.125
N
N
N
N
N
N
Doric Nimrod Air Finance Alpha Limited
2138009FPM7EH4WDS168
DORIC 5.125 11/30/22 144A
258258AA0
852393.32
PA
USD
849978.57
0.5879535331
Long
DBT
CORP
GG
Y
2
2024-11-30
Fixed
5.125
N
N
N
N
N
N
Eaton Vance ESC
N/A
Eaton Vance ESC
278ESC017
220898
NS
USD
181136.36
0.1252969976
Long
EC
CORP
US
N
N/A
N
N
N
Fidelity & Guaranty Life Holdings, Inc.
549300WCR5QBFH98VZ75
FNF 5.5 05/01/25 144A
315786AC7
1000000
PA
USD
1135828.69
0.7856839159
Long
DBT
CORP
US
Y
2
2025-05-01
Fixed
5.5
N
N
N
N
N
N
Fifth Third Bancorp
THRNG6BD57P9QWTQLG42
FITB V0 PERP J
316773CR9
6718000
PA
USD
6714597.47
4.6446715781
Long
DBT
CORP
US
N
2
2500-12-31
Floating
3.2605
N
N
N
N
N
FIRST AMERN FDS INC
N/A
FIRST AMERN FDS INC GOVT OBLIGS X
31846V336
8655988.86
NS
USD
8655988.86
5.9875853493
Long
STIV
RF
US
N
1
N
N
N
Fluor Corporation
CQ7WZ4NOFWT7FAE6Q943
FLR 3.5 12/15/24
343412AC6
688000
PA
USD
721959.68
0.4993993491
Long
DBT
CORP
US
N
2
2024-12-15
Fixed
3.5
N
N
N
N
N
N
Foot Locker, Inc.
549300X383CBNP6MTV94
FL 8.5 01/15/22
980883AC6
2750000
PA
USD
2801562.5
1.9379177644
Long
DBT
CORP
US
N
2
2022-01-15
Fixed
8.5
N
N
N
N
N
N
Fortress Transportation and Infrastructure Investors LLC
529900E7PUVK6BC8PE80
FTAI 6.5 10/01/25 144A
34960PAB7
1500000
PA
USD
1547040
1.0701300786
Long
DBT
CORP
US
Y
2
2025-10-01
Fixed
6.5
N
N
N
N
N
N
G-Iii Apparel Gp
529900O5KABM3R3SFM87
GIII 7.875 08/15/25 144A
36237HAA9
1850000
PA
USD
2004937.5
1.3868703617
Long
DBT
CORP
US
Y
2
2025-08-15
Fixed
7.875
N
N
N
N
N
N
GLP Capital L.P. and GLP Financing II, Inc.
2549005PXW31DRW8EC44
GLPI 5.25 06/01/25
361841AJ8
2000000
PA
USD
2230160
1.5426629538
Long
DBT
CORP
US
N
2
2025-06-01
Fixed
5.25
N
N
N
N
N
N
Hess Corporation
UASVRYNXNK17ULIGK870
HES 7.3 08/15/31
023551AJ3
1500000
PA
USD
2026982.79
1.4021196946
Long
DBT
CORP
US
N
2
2031-08-15
Fixed
7.3
N
N
N
N
N
N
Highland Income Fund
254900CMUE9FRYL2UR80
Highland Income Fund COM NPV
43010E404
259948
NS
USD
2799639.96
1.9365878906
Long
EC
RF
US
N
1
N
N
N
Icahn Enterprises, L.P. / Icahn Enterprises Finance Corporation
549300T0G4GS0SINS786
IEP 6.75 02/01/24
451102BM8
500000
PA
USD
506250
0.3501870361
Long
DBT
CORP
US
N
2
2024-02-01
Fixed
6.75
N
N
N
N
N
N
IHO Verwaltungs GmbH
529900JL0HDVGZMUJF32
IHOVER 4.75 09/15/26 144A
80627DAC0
1000000
PA
USD
1025000
0.7090206656
Long
DBT
CORP
DE
Y
2
2026-09-15
Fixed
4.75
N
N
Y
N
N
N
INVESCO DYNAMIC CR OPPORTUNITIES FD
UJGJ6DJQ6L11ZHIVZG65
INVESCO DYNAMIC CR OPPORTUNITIES FD COM USD0.01
46132R104
604407
NS
USD
7071561.9
4.8915936832
Long
EC
RF
US
N
1
N
N
N
JETBLUE AIRWAYS PASS-THROUGH TRUSTS
N/A
JBLU 8 11/15/27 2019
477165AA2
4443386.2
PA
USD
5199145.32
3.5963916833
Long
ABS-O
CORP
US
N
2
2029-05-15
Fixed
8
N
N
N
N
N
N
JPMorgan Chase & Co.
8I5DZWZKVSZI1NUHU748
JPM V0 PERP I
46625HHA1
2417000
PA
USD
2430226.67
1.681054567
Long
DBT
CORP
US
N
2
2500-12-31
Floating
3.5985
N
N
N
N
N
N
Marathon Petroleum Company
3BNYRYQHD39K4LCKQF12
MPC 3.625 09/15/24
56585AAG7
2000000
PA
USD
2145809.3
1.4843152567
Long
DBT
CORP
US
N
2
2024-09-15
Fixed
3.625
N
N
N
N
N
N
McKesson Corporation
549300WZWOM80UCFSF54
MCK 7.65 03/01/27
581557AM7
2000000
PA
USD
2594572.68
1.7947372181
Long
DBT
CORP
US
N
2
2027-03-01
Fixed
7.65
N
N
N
N
N
N
Monmouth Real Estate Investment Corporation
549300DFIUDCN3KVN260
Monmouth Real Estate Investment Corporation 6.125% PFD SER C
609720404
485433
NS
USD
12242620.26
8.4685568445
Long
EP
CORP
US
N
1
N
N
N
PacifiCorp
SGY07Y7FNYBNLM6Z1M11
BRKHEC 8.069 09/09/22 AMBC
695114BS6
3685000
PA
USD
3918331.4
2.7104174998
Long
DBT
CORP
US
N
2
2022-09-09
Fixed
8.07
N
N
N
N
N
N
PNC Financial Services Group Inc
CFGNEKW0P8842LEUIA51
PNC Financial Services Group Inc DEP SHS REP 1/4000TH PERP PFD SER P
693475857
10957
NS
USD
284662.86
0.1969091224
Long
EP
CORP
US
N
1
N
N
N
Principal Financial Group
CUMYEZJOAF02RYZ1JJ85
PFG V0 05/15/55
74251VAL6
7110000
PA
USD
7126532.39
4.9296182816
Long
DBT
CORP
US
N
2
2055-05-15
Floating
3.16875
N
N
N
N
N
N
Public Storage
549300LMZF40TKJ6DM64
Public Storage 5.15% CUM PFD (DEP SHS REP 1/1000) SR F
74460W685
5045
NS
USD
129404.25
0.0895124756
Long
EP
CORP
US
N
1
N
N
N
RiverNorth Specialty Finance Corporation
54930061II7PXY87SC72
RiverNorth Specialty Finance Corporation COM
76882B108
124136
NS
USD
2383411.2
1.64867102
Long
EC
RF
US
N
1
N
N
N
SMB Private Education Loan Trust
549300XC4C7GRVLU6076
SMB 2014-A C
784456AF2
3000000
PA
USD
2884283.7
1.9951382915
Long
ABS-O
CORP
US
Y
N/A
2045-09-15
Fixed
4.5
N
N
N
N
N
N
Spectrum Brands, Inc.
549300VU3EH2E73C1Q04
SPB 5.75 07/15/25
84762LAU9
1500000
PA
USD
1537500
1.0635309984
Long
DBT
CORP
US
N
2
2025-07-15
Fixed
5.75
N
N
N
N
N
N
U.S. Bancorp
N1GZ7BBF3NP8GI976H15
U.S. Bancorp DEPOSITARY SHARES EACH REPRESENTING A 1/1,000TH INTEREST IN A SHARE OF SERIES L NON-CUMULATIVE PERPETUAL PREFERRED STOCK
902973734
6483
NS
USD
159546.63
0.1103627881
Long
EP
CORP
US
N
1
N
N
N
United Air Lines, Inc.
K1OQBWM7XEOO08LDNP29
UAL 6.636 07/02/22 071A
909287AA2
1388865.14
PA
USD
1428267.24
0.9879716968
Long
ABS-O
CORP
US
N
2
2024-01-02
Fixed
6.636
N
N
N
N
N
N
United Air Lines, Inc.
K1OQBWM7XEOO08LDNP29
UAL 4.75 04/11/22 B
90932PAB4
2279936.85
PA
USD
2304877.76
1.5943472815
Long
ABS-O
CORP
US
N
2
2023-10-11
Fixed
4.75
N
N
N
N
N
N
US Airways Group Inc.
5493004XNBKB5SFUJI60
AAL 7.125 10/22/23 A
903436AA1
2013396.75
PA
USD
2142705.95
1.4821685843
Long
ABS-O
CORP
US
N
2
2025-04-22
Fixed
7.125
N
N
N
N
N
N
USB Capital IX
N/A
USB V0 PERP
91731KAA8
4500000
PA
USD
4439549.43
3.0709583335
Long
DBT
CORP
US
N
2
2500-12-31
Floating
3.5
N
N
N
N
N
N
Vector Group Ltd
549300TUIF4WWN6NDN50
VGR 10.5 11/01/26 144A
92240MBJ6
1000000
PA
USD
1052500
0.7280431713
Long
DBT
CORP
US
Y
2
2026-11-01
Fixed
10.5
N
N
N
N
N
N
Vertical Cap Income Fund
N/A
Vertical Cap Income Fund SHS BEN INT
92535C104
138476
NS
USD
1452613.24
1.004812494
Long
EC
RF
US
N
1
N
N
N
Vistra Operations Co LLC
549300ZH5GKBTJZ7NM23
VST 5.5 09/01/26 144A
92840VAA0
1350000
PA
USD
1387057.5
0.9594657872
Long
DBT
CORP
US
Y
2
2026-09-01
Fixed
5.5
N
N
N
N
N
N
Vistra Operations Co LLC
549300ZH5GKBTJZ7NM23
VST 5 07/31/27 144A
92840VAF9
1460000
PA
USD
1507450
1.0427445877
Long
DBT
CORP
US
Y
2
2027-07-31
Fixed
5
N
N
N
N
N
N
Walt Disney Company
549300GZKULIZ0WOW665
DIS 7.75 02/01/24
254687CV6
3000000
PA
USD
3474509.04
2.4034133778
Long
DBT
CORP
US
N
2
2024-02-01
Fixed
7.75
N
N
N
N
N
N
2021-11-29
SCM Trust
/s/ Gregory Pusch
Gregory Pusch
General Counsel and CCO
XXXX