ICON UTILITIES AND INCOME FUND
Portfolio of Investments
September 30, 2022
| Security Description | Shares | Value | ||||||
| Common Stock (80.74%) | ||||||||
| Communications (1.32%) | ||||||||
| Vodafone Group PLC | 43,300 | $ | 490,589 | |||||
| Energy (4.45%) | ||||||||
| Baker Hughes Co | 12,713 | 266,464 | ||||||
| Magellan Midstream Partners LP | 8,500 | 403,835 | ||||||
| Plains All American Pipeline LP | 94,100 | 989,932 | ||||||
| Total Energy | 1,660,231 | |||||||
| Financial (1.61%) | ||||||||
| Lincoln National Corp | 13,700 | 601,567 | ||||||
| Utilities (73.36%) | ||||||||
| ALLETE Inc | 24,200 | 1,211,210 | ||||||
| Ameren Corp | 25,600 | 2,062,080 | ||||||
| American Electric Power Co Inc | 21,300 | 1,841,385 | ||||||
| Avangrid Inc | 35,200 | 1,467,840 | ||||||
| Black Hills Corp | 26,600 | 1,801,618 | ||||||
| Duke Energy Corp | 11,900 | 1,106,938 | ||||||
| Evergy Inc | 27,000 | 1,603,800 | ||||||
| Eversource Energy | 19,400 | 1,512,424 | ||||||
| National Fuel Gas Co | 40,800 | 2,511,240 | ||||||
| New Jersey Resources Corp | 48,600 | 1,880,820 | ||||||
| NextEra Energy Inc | 26,300 | 2,062,183 | ||||||
| NiSource Inc | 46,751 | 1,177,658 | ||||||
| ONE Gas Inc | 20,200 | 1,421,878 | ||||||
| Sempra Energy | 5,500 | 824,670 | ||||||
| UGI Corp | 47,495 | 1,535,513 | ||||||
| Unitil Corp | 31,289 | 1,453,374 | ||||||
| Xcel Energy Inc | 29,600 | 1,894,400 | ||||||
| Total Utilities | 27,369,031 | |||||||
| Total Common Stock (Cost $30,310,263) | 30,121,418 | |||||||
| Preferred Stock (0.65%) | ||||||||
| Financial (0.65%) | ||||||||
| The PNC Financial Services Group Inc, 6.850%, 3M US LIBOR + 4.0675%(a),(b) | 9,520 | 241,618 | ||||||
| Total Preferred Stock (Cost $238,384) | 241,618 | |||||||
| Investment Companies (19.12%) | Par Value | Value | ||||||
| Money Market Funds (19.12%) | ||||||||
| First American Government Obligations Fund (Subsidized 7-Day Yield, 2.780%) | 7,130,723 | 7,130,723 | ||||||
| Total Investment Companies (Cost $7,130,723) | 7,130,723 | |||||||
| Total Investments (Cost $37,679,369) (100.51%) | $ | 37,493,759 | ||||||
| Liabilities in Excess of Other Assets (-0.51%) | (191,923 | ) | ||||||
| Net Assets (100.00%) | $ | 37,301,836 | ||||||
| (a) | This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest. |
| (b) | Floating or variable rate security. The reference rate is described above. The rate in effect as of September 30, 2022 is based on the reference rate plus the displayed spread as of the security’s last reset date. |