Form NPORT-P Modern Capital Funds For: Mar 31

May 26, 2022 8:28 AM EDT

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    NPORT-P
    false
    
      
      
        
          0001815608
          XXXXXXXX
        
      
      
      
      
        S000069477
        C000221777
        C000221778
      
      
      
    
  
  
    
      Modern Capital Funds Trust
      811-23582
      0001815608
      549300S8T4XDU4WRH658
      150 Prospect Street
      Unit 23
      Greenwich
      
      06830
      252-972-9922
      Modern Capital Tactical Opportunities Fund
      S000069477
      549300VBKEL6G7NEPM08
      2022-03-31
      2022-03-31
      N
    
    
      20803932.68
      1776225.33
      19027707.35
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      0
      
        
          USD
          
          
        
      
      
      
      
        
      
      N
      
        
          
        
        
        
        
      
      
      
      
      
    
    
      
        Aberdeen Total
        N/A
        CLOSED-E
        00326L100
        
          
        
        26980
        NS
        USD
        259277.8
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BLACKROCK ENCHANCED
        N/A
        CLOSED-E
        092524107
        
          
        
        35771
        NS
        USD
        205683.25
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BlackRock Credit All
        N/A
        CLOSED-E
        092508100
        
          
        
        23952
        NS
        USD
        300837.12
        0.02
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BNYM HIGH YIELD
        RH2DL1HWBBECVFYQNK56
        CLOSED-E
        09660L105
        
          
        
        27045
        NS
        USD
        75185.1
        0
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Credit Suisse High
        549300R9HE7C1IL42N58
        CLOSED-E
        22544F103
        
          
        
        154546
        NS
        USD
        336910.28
        0.02
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Morgan Stanley Emerg
        541YGIXZ6JJP4EZDJI96
        CLOSED-E
        617477104
        
          
        
        183516
        NS
        USD
        915744.84
        0.05
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Western Asset
        549300F68574RU1BKP84
        CLOSED-E
        95766A101
        
          
        
        2304
        NS
        USD
        24721.92
        0
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        ABERDEEN ASIA
        549300J666ZH67203572
        CLOSED-E
        003009107
        
          
        
        265000
        NS
        USD
        895700
        0.05
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        First Trust Aberdeen
        700UQMDEFIFKNKMN0L14
        CLOSED-E
        33731K102
        
          
        
        22318
        NS
        USD
        229652.22
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Goldman Sachs MLP
        N/A
        CLOSED-E
        38148G206
        
          
        
        37130
        NS
        USD
        448530.4
        0.02
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        GAMCO GLOBAL GOLD
        N/A
        CLOSED-E
        36465A109
        
          
        
        135000
        NS
        USD
        544050
        0.03
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PGIM GLOBAL
        F0ATD1Y4J8CHDKHSLD09
        CLOSED-E
        69346J106
        
          
        
        4865
        NS
        USD
        65045.05
        0
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HIGHLAND INCOME FUND
        549300VMOZD9W6DJLT40
        CLOSED-E
        43010E404
        
          
        
        57800
        NS
        USD
        690132
        0.04
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        HIGHLAND GLOBAL
        549300Y627XJ58WI3L10
        CLOSED-E
        43010T104
        
          
        
        80605
        NS
        USD
        793959.25
        0.04
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        KAYNE ANDERSON MID=
        549300MHDTCUZBV2Y068
        CLOSED-E
        48661E108
        
          
        
        89733
        NS
        USD
        769011.81
        0.04
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MORGAN STANLEY
        879N34XPZOOCKFD26737
        CLOSED-E
        61744H105
        
          
        
        28734
        NS
        USD
        223550.52
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Mexico Equity & Inco
        549300Q0OD8MQEFTBY23
        CLOSED-E
        592834105
        
          
        
        67610
        NS
        USD
        617279.3
        0.03
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        AllianzGI Conv &
        N/A
        CLOSED-E
        92838U108
        
          
        
        60467
        NS
        USD
        261822.11
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Neuberger Berman MLP
        549300P5ICT7WWGP8224
        CLOSED-E
        64129H104
        
          
        
        113517
        NS
        USD
        731049.48
        0.04
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        PIMCO ENERGY AND
        549300BX5QVFQJENPV35
        CLOSED-E
        69346N107
        
          
        
        13301
        NS
        USD
        197253.83
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        NexPoint Diversified
        N/A
        CLOSED-E
        65340G205
        
          
        
        49783
        NS
        USD
        787567.06
        0.04
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Permain Royalty
        N/A
        CLOSED-E
        71425H100
        
          
        
        103953
        NS
        USD
        260922.03
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        LMP Capital and
        N/A
        CLOSED-E
        50208A102
        
          
        
        27231
        NS
        USD
        398117.22
        0.02
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        SEVEN HILLS
        N/A
        CLOSED-E
        81784E101
        
          
        
        67944
        NS
        USD
        756216.72
        0.04
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BBVA ARGENTINA
        N/A
        COMMSTCK
        058934100
        
          
        
        32466
        NS
        USD
        115254.3
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        BANCO MACRO SA-ADR
        N/A
        COMMSTCK
        05961W105
        
          
        
        14704
        NS
        USD
        254379.2
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        CIA Energetica De
        N/A
        COMMSTCK
        204409601
        
          
        
        22000
        NS
        USD
        70840
        0
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Despegar.com Corp
        N/A
        COMMSTCK
        G27358103
        
          
        
        15000
        NS
        USD
        183000
        0.01
        Long
        EC
        CORP
        VI
        N
        
        1
        
          N
          N
          N
        
      
      
        GRUPO FINANCIERO
        N/A
        COMMSTCK
        399909100
        
          
        
        17000
        NS
        USD
        183600
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Kimbell Royalty Part
        N/A
        COMMSTCK
        49435R102
        
          
        
        5000
        NS
        USD
        81300
        0
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Annaly Capital Manag
        N/A
        COMMSTCK
        035710409
        
          
        
        25000
        NS
        USD
        176000
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Petroleo Brasileiro
        N/A
        COMMSTCK
        71654V408
        
          
        
        20000
        NS
        USD
        296000
        0.02
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Sabine Royalty Trust
        N/A
        COMMSTCK
        785688102
        
          
        
        8391
        NS
        USD
        484580.25
        0.03
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Grupo Supervielle
        N/A
        COMMSTCK
        40054A108
        
          
        
        125902
        NS
        USD
        254322.04
        0.01
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        TC ENERGY CORP
        N/A
        COMMSTCK
        87807B107
        
          
        
        2000
        NS
        USD
        112840
        0.01
        Long
        EC
        CORP
        CA
        N
        
        1
        
          N
          N
          N
        
      
      
        iSHARES MORTGAGE
        N/A
        ETF
        46435G342
        
          
        
        9373
        NS
        USD
        306215.91
        0.02
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        MV OIL TRUST
        N/A
        GRANTOR
        553859109
        
          
        
        67131
        NS
        USD
        790467.53
        0.04
        Long
        
        
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        Permian Basin Royalt
        N/A
        GRANTOR
        714236106
        
          
        
        34815
        NS
        USD
        435535.65
        0.02
        Long
        
        
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        San Juan
        N/A
        GRANTOR
        798241105
        
          
        
        100000
        NS
        USD
        877000
        0.05
        Long
        
        
        US
        N
        
        2
        
          N
          N
          N
        
      
      
        BLACK STONE MINERALS
        N/A
        MLP
        09225M101
        
          
        
        26875
        NS
        USD
        361737.5
        0.02
        Long
        EC
        CORP
        US
        N
        
        1
        
          N
          N
          N
        
      
      
        Federated Government
        254900VAJ9169N7JRF45
        MONEYMKT
        60934N104
        
          
        
        6813510.1
        NS
        USD
        6813510.1
        0.36
        Long
        STIV
        
        US
        N
        
        1
        
          N
          N
          N
        
      
    
    
      2022-05-23
      Modern Capital Funds Trust
      Kris Wild
      Kris Wild
      Principal Financial Officer
    
  
  XXXX



Modern Capital Tactical Opportunities Fund
   
                   
Schedule of Investments
           
                   
As of March 31, 2022
           
             

Shares
 

Value (Note 1)
                   
CLOSED-END FUNDS - 58.21%
           
   
Aberdeen Asia-Pacific Income Fund, Inc.
     
           265,000
 $
           895,700
   
Barings Global Short Duration High Yield Fund
     
               3,858
 
             59,799
   
BlackRock Credit Allocation Income Trust
     
             23,952
 
           300,837
   
BlackRock Enhanced International Dividend Trust
   
             35,771
 
           205,683
   
BNY Mellon High Yield Strategies Fund
     
             77,045
 
           214,185
   
Credit Suisse High Yield Bond Fund
     
           264,546
 
           576,710
   
First Trust Aberdeen Emerging Opportunity Fund
   
             22,318
 
           229,652
   
GAMCO Global Income Trust
     
           153,680
 
           619,331
   
Goldman Sachs MLP Energy and Renaissance Fund
   
             37,130
 
           448,530
   
Highland Global Allocation Fund
     
             80,605
 
           793,959
   
Highland Income Fund
     
             57,800
 
           690,132
   
Kayne Anderson NextGen Energy & Infrastructure, Inc.
   
             89,733
 
           769,012
   
LMP Capital and Income Fund, Inc.
     
             19,693
 
           287,912
   
Mexico Equity & Income Fund, Inc.
     
             67,610
 
           617,279
   
Morgan Stanley Emerging Markets Debt Fund
     
             28,734
 
           223,551
   
Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.
   
           183,516
 
           915,745
   
Neuberger Berman MLP & Energy Income Fund
   
           113,517
 
           731,050
   
NexPoint Diversified Real Estate Trust
     
             49,783
 
           787,567
   
Permain Royalty Trust
     
             96,802
 
           242,973
   
PGIM Global High Yield Fund
     
               6,065
 
             81,089
   
PGIM High Yield Bond Fund, Inc.
     
                  419
 
               6,000
   
PIMCO Energy & Tactical Credit Opportunities Fund
   
             13,301
 
           197,254
   
Seven Hills Realty Trust
     
             67,944
 
           756,217
   
Virtus AllianzGI Convertible & Income Fund II
     
           100,467
 
           435,022
                   
   
Total Closed-End Funds (Cost $10,690,851)
         
       11,085,189
                   
COMMON STOCKS - 9.89%
             
 
Consumer Discretionary - 0.96%
           
 
*µ 
Despegar.com Corp.
       
             15,000
 
           183,000
                 
           183,000
 
Energy - 4.69%
             
 
µ 
Petroleo Brasileiro SA
     
             20,000
 
           296,000
   
Sabine Royalty Trust
     
               8,391
 
           484,580
   
TC Energy Corp.
       
               2,000
 
           112,840
                 
           893,420
 
Financials - 4.24%
             
 
*µ 
Banco BBVA Argentina SA
     
             32,466
 
           115,254
 
µ 
Banco Macro SA
       
             14,704
 
           254,379
 
*µ 
Grupo Financiero Galicia
     
             17,000
 
           183,600
 
µ 
Grupo Supervielle SA
     
           125,902
 
           254,322
                 
           807,555
                   
   
Total Common Stocks (Cost $1,680,323)
         
         1,883,975
                   
                 
 (Continued)

Modern Capital Tactical Opportunities Fund
   
                   
Schedule of Investments - Continued
         
                   
As of March 31, 2022
           
             

Shares
 

Value (Note 1)
                   
EXCHANGE-TRADED PRODUCT - 1.55%
           
 
Real Estate - 1.55%
             
   
iShares Mortgage Real Estate ETF
     
               9,038
 $
           295,271
                   
   
Total Exchange-Traded Product (Cost $293,639)
       
           295,271
                   
MASTER LIMITED PARTNERSHIP - 1.90%
           
 
Energy - 1.90%
             
   
Black Stone Minerals LP
     
             26,875
 
           361,737
                   
   
Total Master Limited Partnership (Cost $318,198)
       
           361,737
                   
GRANTOR TRUSTS - 11.20%
             
 
Energy - 11.20%
             
   
BP Prudhoe Bay Royalty Trust
     
                  995
 
             14,089
   
Kimbell Royalty Partners LP
     
               5,000
 
             81,300
   
MV Oil Trust
       
             67,131
 
           790,468
   
Permian Basin Royalty Trust
     
             34,815
 
           435,536
   
San Juan Royalty Trust
     
             92,500
 
           811,225
                   
   
Total Grantor Trusts (Cost $1,804,912)
         
         2,132,618
                   
SHORT-TERM INVESTMENT - 11.85%
           
 
§ 
Federated Hermes Government Obligations Fund, 0.03%
   
         2,257,315
 
         2,257,315
                   
   
Total Short-Term Investment (Cost $2,257,315)
         
         2,257,315
                   
Total Value of Investments (Cost $17,045,238) - 94.60%
       
 $
       18,016,105
                   
Other Assets Less Liabilities  - 5.40%
         
         1,028,843
                   
 
Net Assets - 100%
         
 $
       19,044,948
                   

Non-income producing investment
           
µ 
American Depositary Receipt
           
§ 
Represents 7 day effective yield
           
                   
The following acronyms or abbreviations are used in this Schedule:
         
 
MLP - Master Limited Partnership
           
 
LP - Limited Partnership
             
                   
                   
                   
                   
                   
                   
                 
 (Continued)

Modern Capital Tactical Opportunities Fund
   
                   
Schedule of Investments - Continued
         
                   
As of March 31, 2022
           
                   
                   
     
Summary of Investments by
         
     
Type and Sector
 
% of Net
       
         
Assets
 
Value
   
     
Closed-End Funds
 
58.21%
$
       11,085,189
   
     
Common Stocks:
           
     
  Consumer Discretionary
 
0.96%
 
           183,000
   
     
  Energy
 
4.69%
 
           893,420
   
     
  Financials
 
4.24%
 
           807,555
   
     
Exchange-Traded Product:
         
     
  Real Estate
 
1.55%
 
           295,271
   
     
Master Limited Partnership:
         
     
  Energy
 
1.90%
 
           361,737
   
     
Grantor Trusts:
           
     
  Energy
 
11.20%
 
         2,132,618
   
     
Short-Term Investment
 
11.85%
 
         2,257,315
   
     
Other Assets Less Liabilities
5.40%
 
         1,028,843
   
     
Total Net Assets
 
100.00%
$
       19,044,948
   
                   
                   



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