ICON Risk-Managed Balanced Fund

Portfolio of Investments (Unaudited)

6/30/2020

	Shares		Value
Common Stock (73.85%)
Basic Materials (3.70%)
Eastman Chemical Co		7,000		487,480
International Paper Co		11,900		418,999
Total Basic Materials				906,479
Communications (8.68%)
Juniper Networks Inc		30,700		701,802
Nexstar Media Group Inc		8,800		736,472
ViacomCBS Inc		29,800		694,936
Total Communications				2,133,210
Consumer, Cyclical (7.78%)
Best Buy Co Inc		7,400		645,798
Magna International Inc		11,300		503,189
Whirlpool Corp		5,900		764,227
Total Consumer, Cyclical				1,913,214
Consumer, Non-Cyclical (10.57%)
AbbVie Inc		4,561		447,799
Bristol-Myers Squibb Co		22,000		1,293,600
Rent-A-Center Inc		30,800		856,856
Total Consumer, Non-Cyclical				2,598,255
Energy (0.77%)
Marathon Petroleum Corp		5,146		192,357
Financial (14.25%)
Air Lease Corp		9,485		277,816
JPMorgan Chase & Co		6,353		597,563
KeyCorp		21,031		256,158
Lincoln National Corp		12,700		467,233
Mastercard Inc		2,029		599,975
Prudential Financial Inc		14,200		864,780
Signature Bank		4,102		438,586
Total Financial				3,502,111
Industrial (19.68%)
A O Smith Corp		13,507		636,450
Graphic Packaging Holding Co		25,667		359,081
Hubbell Inc		6,200		777,232
Northrop Grumman Corp		2,400		737,856
Packaging Corp of America		5,600		558,880
Raytheon Technologies Corp		12,171		749,977
Union Pacific Corp		6,029		1,019,323
Total Industrial				4,838,799
Technology (8.42%)
NetApp Inc		11,500		510,255
QUALCOMM Inc		9,300		848,253
Texas Instruments Inc		5,600		711,032
Total Technology				2,069,540
Total Common Stock (Cost $18,613,443)				18,153,965
Preferred Stock (0.61%)
Financial (0.61%)
Argo Group US Inc, 6.500% (Cost $137,308)		5,900		150,509
Mutual Funds (6.37%)
Financial (6.37%)
BlackRock New York Municipal Bond Trust		9,915		155,765
BlackRock New York Municipal Opportunities Fund		21,829		236,626
BrandywineGLOBAL Global Income Opportunities Fund Inc		4,832		55,761
Duff & Phelps Utility and Corporate Bond Trust Inc		46,372		433,579
Eaton Vance California Municipal Income Trust		8,260		108,867
Eaton Vance Floating-Rate Income Plus Fund		5,900		81,597
First Trust Aberdeen Global Opportunity Income Fund		23,882		236,909
Nuveen New York Municipal Value Fund 2		3,171		43,221
Pioneer Diversified High Income Trust		13,855		166,482
Western Asset Global High Income Fund Inc		5,000		46,250
Total Financial				1,565,057
Private Investment Funds (0.00%)
Moraine Waste Removal Escrow (Cost $0)		43,843		-
Total Mutual Funds (Cost $1,596,289)				1,565,057
Corporate Debt (18.19%)		Par Value
Basic Materials (1.26%)
CVR Partners LP / CVR Nitrogen Finance Corp, 9.250%, 6/15/2023 (144A)		200,000		196,000
Teck Resources Ltd, 6.125%, 10/1/2035		100,000		113,500
Total Basic Materials				309,500
Communications (1.40%)
AT&T Inc, 6.450%, 6/15/2034		100,000		129,853
CSC Holdings LLC, 10.875%, 10/15/2025 (144A)		200,000		215,000
Total Communications				344,853
Consumer, Cyclical (1.62%)
Foot Locker Inc, 8.500%, 1/15/2022		150,000		156,000
Reliance Intermediate Holdings LP, 6.500%, 4/1/2023 (144A)		101,000		101,505
Silversea Cruise Finance Ltd, 7.250%, 2/1/2025 (144A)		150,000		141,375
Total Consumer, Cyclical				398,880
Consumer, Non-Cyclical (2.39%)
Bausch Health Cos Inc, 7.000%, 3/15/2024 (144A)		100,000		103,750
Central Garden & Pet Co, 6.125%, 11/15/2023		260,000		265,200
Conagra Brands Inc, 7.125%, 10/1/2026		175,000		219,609
Total Consumer, Non-Cyclical				588,559
Energy (3.39%)
Aker BP ASA, 5.875%, 3/31/2025 (144A)		100,000		101,635
MPLX LP, 6.250%, 10/15/2022		314,000		317,615
MPLX LP, 6.375%, 5/1/2024		400,000		413,009
Total Energy				832,259
Financial (6.13%)
Avation Capital SA, 6.500%, 5/15/2021 (144A)		150,000		111,000
Equinix Inc, 5.875%, 1/15/2026		200,000		210,480
Global Atlantic Fin Co, 8.625%, 4/15/2021 (144A)		100,000		104,642
JPMorgan Chase & Co, 3M US LIBOR + 3.438%(a),(b)		170,000		154,751
MPT Operating Partnership LP / MPT Finance Corp, 6.375%, 3/1/2024		234,000		241,020
Principal Financial Group Inc, 3.436%, 5/15/2055		250,000		224,050
Prudential Financial Inc, 3M US LIBOR + 5.575%, 9/15/2042(a)		250,000		266,100
The Prudential Insurance Co of America, 3M US LIBOR + 8.000%, 7/1/2025 (144A)(a)		150,000		194,640
Total Financial				1,506,683
Industrial (2.00%)
Standard Industries Inc/NJ, 5.375%, 11/15/2024		100,000		102,750
Tervita Corp, 7.625%, 12/1/2021 (144A)		150,000		117,750
TransDigm Inc, 6.500%, 7/15/2024		100,000		95,479
USG Corp, 5.500%, 3/1/2025 (144A)		175,000		175,875
Total Industrial				491,854
Total Corporate Debt (Cost $4,582,459)				4,472,588
Purchased Options - Puts (0.06%)		Contracts
S&P 500 Index Future (0.06%)
Notional amount $2,700,000, premiums paid $97,219, unrealized depreciation $(81,519), exercise price $2,700, expires 07/31/2020		10		15,700
Collateral for Securities on Loan (0.04%)		Shares
State Street Navigator Securities Lending Government Money Market Portfolio, 7-Day Yield 0.32% (Cost $9,985)		9,985		9,985
Total Investments (Cost $25,036,703) (99.08%)				24,357,819
Other Net Assets (0.92%)				226,131
Net Assets (100.00%)				24,583,950

*	Non-income producing security.
(a)	Floating or variable rate security. The reference rate is described above. The rate in effect as of June 30, 2020 is based on the reference rate plus the displayed spread as of the security's last reset date.
(b)	This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.
(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 $1,563,172, which represented approximately 6.36% of net assets.