Modern Capital Funds Trust NPORT-P Modern Capital Tactical Opportunities Fund (Mar 2022 report)

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