ICON Equity Income Fund
Portfolio of Investments (Unaudited)
6/30/2020
Security Description | Shares | Value | ||||||
Common Stock (90.94%) | ||||||||
Basic Materials (4.06%) | ||||||||
Eastman Chemical Co | 14,100 | 981,924 | ||||||
International Paper Co | 37,200 | 1,309,812 | ||||||
Total Basic Materials | 2,291,736 | |||||||
Consumer, Cyclical (14.11%) | ||||||||
Best Buy Co Inc | 13,500 | 1,178,145 | ||||||
Cummins Inc | 9,700 | 1,680,622 | ||||||
Leggett & Platt Inc | 45,400 | 1,595,810 | ||||||
VF Corp | 30,000 | 1,828,200 | ||||||
Whirlpool Corp | 12,900 | 1,670,937 | ||||||
Total Consumer, Cyclical | 7,953,714 | |||||||
Consumer, Non-Cyclical (24.90%) | ||||||||
Altria Group Inc | 25,700 | 1,008,725 | ||||||
Avery Dennison Corp | 13,000 | 1,483,170 | ||||||
Bristol-Myers Squibb Co | 30,100 | 1,769,880 | ||||||
Conagra Brands Inc | 38,000 | 1,336,460 | ||||||
Johnson & Johnson | 9,800 | 1,378,174 | ||||||
Merck & Co Inc | 19,100 | 1,477,003 | ||||||
Philip Morris International Inc | 15,000 | 1,050,900 | ||||||
Rent-A-Center Inc | 50,200 | 1,396,564 | ||||||
Tyson Foods Inc | 24,900 | 1,486,779 | ||||||
UnitedHealth Group Inc | 5,600 | 1,651,720 | ||||||
Total Consumer, Non-Cyclical | 14,039,375 | |||||||
Financial (21.80%) | ||||||||
Bank of America Corp | 65,500 | 1,555,625 | ||||||
Fifth Third Bancorp | 57,300 | 1,104,744 | ||||||
JPMorgan Chase & Co | 18,000 | 1,693,080 | ||||||
KeyCorp | 61,900 | 753,942 | ||||||
MetLife Inc | 37,400 | 1,365,848 | ||||||
Morgan Stanley | 36,400 | 1,758,120 | ||||||
Navient Corp | 188,400 | 1,324,452 | ||||||
Prudential Financial Inc | 17,300 | 1,053,570 | ||||||
US Bancorp | 26,300 | 968,366 | ||||||
Webster Financial Corp | 24,900 | 712,389 | ||||||
Total Financial | 12,290,136 | |||||||
Industrial (10.37%) | ||||||||
Hubbell Inc | 13,600 | 1,704,896 | ||||||
Lockheed Martin Corp | 4,800 | 1,751,616 | ||||||
Packaging Corp of America | 10,200 | 1,017,960 | ||||||
Union Pacific Corp | 8,100 | 1,369,467 | ||||||
Total Industrial | 5,843,939 | |||||||
Technology (6.33%) | ||||||||
Infosys Ltd | 81,200 | 784,392 | ||||||
International Business Machines Corp | 5,900 | 712,543 | ||||||
QUALCOMM Inc | 22,700 | 2,070,467 | ||||||
Total Technology | 3,567,402 | |||||||
Utilities (9.37%) | ||||||||
Avangrid Inc | 24,400 | 1,024,312 | ||||||
Avista Corp | 33,300 | 1,211,787 | ||||||
CenterPoint Energy Inc | 27,700 | 517,159 | ||||||
Evergy Inc | 14,500 | 859,705 | ||||||
Otter Tail Corp | 43,100 | 1,671,849 | ||||||
Total Utilities | 5,284,812 | |||||||
Total Common Stock (Cost $56,003,074) | 51,271,114 | |||||||
Preferred Stock (2.08%) | ||||||||
Financial (1.90%) | ||||||||
Annaly Capital Management Inc, 6.750% | 2,395 | 50,630 | ||||||
Annaly Capital Management Inc, 6.950% | 4,000 | 83,520 | ||||||
Argo Group US Inc, 6.500% | 17,717 | 451,961 | ||||||
JPMorgan Chase & Co, 6.100% | 5,000 | 127,050 | ||||||
Wells Fargo & Co, 7.500% | 100 | 129,700 | ||||||
Wells Fargo & Co, 6.000% | 9,100 | 231,777 | ||||||
Total Financial | 1,074,638 | |||||||
Government (0.18%) | ||||||||
Farm Credit Bank of Texas, 10.000%(a) | 100 | 100,000 | ||||||
Total Preferred Stock (Cost $1,192,153) | 1,174,638 | |||||||
Corporate Debt (4.79%) | Par Value | Value | ||||||
Basic Materials (0.35%) | ||||||||
CVR Partners LP / CVR Nitrogen Finance Corp, 9.250%, 6/15/2023 (144A) | 200,000 | 196,000 | ||||||
Communications (0.67%) | ||||||||
CSC Holdings LLC, 10.875%, 10/15/2025 (144A) | 350,000 | 376,250 | ||||||
Consumer, Cyclical (1.22%) | ||||||||
Foot Locker Inc, 8.500%, 1/15/2022 | 500,000 | 520,000 | ||||||
Reliance Intermediate Holdings LP, 6.500%, 4/1/2023 (144A) | 165,000 | 165,825 | ||||||
Total Consumer, Cyclical | 685,825 | |||||||
Consumer, Non-Cyclical (1.37%) | ||||||||
Central Garden & Pet Co, 6.125%, 11/15/2023 | 600,000 | 612,000 | ||||||
RR Donnelley & Sons Co, 8.250%, 7/1/2027 | 162,000 | 160,380 | ||||||
Total Consumer, Non-Cyclical | 772,380 | |||||||
Energy (0.46%) | ||||||||
MPLX LP, 6.375%, 5/1/2024 | 250,000 | 258,131 | ||||||
Financial (0.19%) | ||||||||
Avation Capital SA, 6.500%, 5/15/2021 (144A) | 150,000 | 111,000 | ||||||
Industrial (0.35%) | ||||||||
TransDigm Inc, 6.500%, 7/15/2024 | 100,000 | 95,479 | ||||||
USG Corp, 5.500%, 3/1/2025 (144A) | 100,000 | 100,500 | ||||||
Total Industrial | 195,979 | |||||||
Utilities (0.18%) | ||||||||
Vistra Corp, 8.125%, 1/30/2026 (144A) | 100,000 | 104,250 | ||||||
Total Corporate Debt (Cost $2,772,183) | 2,699,815 | |||||||
Mutual Funds (1.82%) | Par Value | Value | ||||||
Financial (1.82%) | ||||||||
BlackRock New York Municipal Opportunities Fund | 6,805 | 73,766 | ||||||
BrandywineGLOBAL Global Income Opportunities Fund Inc | 7,100 | 81,934 | ||||||
Duff & Phelps Utility and Corporate Bond Trust Inc | 13,619 | 127,338 | ||||||
Eaton Vance Floating-Rate Income Plus Fund | 10,000 | 138,300 | ||||||
First Trust Aberdeen Global Opportunity Income Fund | 24,657 | 244,597 | ||||||
Nuveen New York Municipal Value Fund 2 | 863 | 11,763 | ||||||
Pioneer Diversified High Income Trust | 16,741 | 201,160 | ||||||
Western Asset Global High Income Fund Inc | 16,000 | 148,000 | ||||||
Total Financial | 1,026,858 | |||||||
Total Mutual Funds (Cost $1,080,338) | 1,026,858 | |||||||
Collateral for Securities on Loan (0.18%) | ||||||||
State Street Navigator Securities Lending Government Money Market Portfolio, 7-Day Yield 0.32% (Cost $103,738) | 103,738 | 103,738 | ||||||
Total Investments (Cost $61,151,486) (99.82%) | 56,276,163 | |||||||
Other Net Assets (0.18%) | 104,125 | |||||||
Net Assets (100.00%) | 56,380,288 |
* | Non-income producing security. |
(a) | These securities are considered, by management, to be illiquid. The aggregate value of these securities at June 30, 2020 was $100,000, which represent 0.18% of the Fund's net assets. |
(144A) | Security was purchased pursuant to Rule 144A or Section 4(a)(2) under the Securities Act of 1933 and may be resold in transactions exempt from registration only to qualified institutional buyers. As of June 30, 2020, these securities had a total aggregate market value of $1,053,825, which represented approximately 1.87% of net assets. |