Modern Capital Funds Trust NPORT-P Modern Capital Tactical Opportunities Fund (Jun 2023 report)

Modern Capital Tactical Opportunities Fund

SCHEDULE OF INVESTMENTS (Unaudited)

June 30, 2023

Shares			Fair Value
		CLOSED-END FUNDS - 71.3%
		ALLOCATION/BALANCED - 5.9%
	62,741	Clough Global Dividend and Income Fund	$	348,213
	195,204	Clough Global Opportunities Fund		977,972
	6,283	First Trust Intermediate Duration Preferred & Income Fund		97,449
	9,642	Flaherty & Crumrine Preferred and Income Securities Fund, Inc.		132,481
	18,336	Flaherty & Crumrine Total Return Fund, Inc.		263,488
	46,523	FS Global Credit Opportunities Fund, Inc.		220,984
				2,040,587
		ALTERNATIVE - 4.3%
	188,399	Eaton Vance Tax-Managed Global Disversified Equity Income Fund		1,492,120
		EQUITY -15.7%
	65,497	Blackrock Enhanced International Dividend Trust		356,304
	165,315	Clough Global Equity Fund		1,031,566
	30,052	The GDL Fund		235,758
	43,848	Highland Global Allocation Fund		379,285
	0.2	Liberty All-Star Growth Fund, Inc.		1
	130,965	Mexico Equity & Income Fund , Inc. (a)		1,315,072
	84,705	Neuberger Berman Real Estate Securities Income Fund, Inc.		257,503
	27,680	Neuberger Berman MLP and Energy Income Fund Inc.		190,438
	117,726	Seven Hills Realty Trust (c)		1,207,869
	6,394	Voya Global Advantage and Premium Opportunity Fund		54,605
	52,607	Voya Global Equity Dividend and Premium Opportunity Fund		270,400
	6,425	Voya Infrastructure, Industrials and Materials Fund		63,415
				5,362,216
		FIXED INCOME - 39.8%
	80,000	Aberdeen Asia Pacific Income Fund		216,000
	51,283	Allspring Income Opportunities Fund		330,775
	21,982	Barings Global Short Duration High Yield Fund		286,645
	105,188	BlackRock Debt Strategies Fund, Inc.		1,029,791
	10,000	Blackstone Strategic Credit Fund		109,300
	523,185	BNY Mellon High Yield Strategies Fund		1,161,471
	139,229	BrandywineGLOBAL - Global Income Opportunities Fund, Inc.		1,119,401
	96,408	First Trust/Aberdeen Global Opportunity Income Fund		599,687
	34,631	First Trust High Income Long/Short Fund		396,179
	60,480	Highland Income Fund		546,134
	39,936	Invesco Trust for Investment Grade Municipals		387,779
	113,495	KKR Income Opportunities Fund		1,317,677
	111,105	Morgan Stanley Emerging Markets Debt Fund, Inc.		715,516
	325,210	Morgan Stanley Emerging Markets Domestic Debt Fund, Inc.		1,525,235
	69,534	The New America High Income Fund, Inc.		462,401
	35,940	Nuveen Core Plus Impact Fund		358,322
	111,300	PGIM Global High Yield Fund , Inc.		1,220,961
	2,795	Pioneer Diversified High Income Fund, Inc.		28,230
	41,933	Templeton Emerging Markets Income Fund		215,955
	29,916	Templeton Global Income Fund		123,852
	132,418	Western Asset Emerging Markets Debt Fund, Inc.		1,141,443
	111,936	Western Asset High Income Opportunity Fund, Inc.		423,118
				13,715,872

Modern Capital Tactical Opportunities Fund

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		CLOSED-END FUNDS - 71.3% (Continued)
		TAX PREFERRED - 5.6%
	12,793	DWS Strategic Municipal Income Trust	$	108,549
	10,868	Invesco Municipal Trust		102,485
	8,767	Invesco Quality Municipal Income Trust		83,813
	7,820	MFS High Income Municipal Trust		27,214
	15,720	Nuveen AMT-Free Quality Municipal Income Fund		171,820
	100	Nuveen Municipal Value Fund, Inc.		870
	24,634	Nuveen Municipal Credit Income Fund		287,232
	14,926	Nuveen Quality Municipal Income Fund		168,216
	15,549	Pioneer Municipal High Income Advantage Fund, Inc.		122,837
	96,523	Pioneer Municipal High Income Fund, Inc.		823,341
				1,896,377
		TOTAL CLOSED-END FUNDS - (Cost $24,239,374)		24,507,172
		COMMON STOCK - 17.5%
		BANKING - 8.3%
	30,508	Banco BBVA Argentina S.A. (a) (b)		187,014
	448,000	Banco Vradesco S.A. (b)		1,550,080
	441	Dime Community Bancshares, Inc		7,775
	37,714	Grupo Financiero Galicia S.A. (a) (b)		648,681
	114,343	Grupo Supervielle S.A. (b)		355,607
	15,000	Prospect Capital, Corp.		93,000
				2,842,157
		CONSUMER DISCRETIONARY - 0.6%
	30,000	Despegar.com, Inc. (a) (b)		211,500
		CONSUMER STAPLES - 0.5%
	23,231	Cresud S.A. Comercial Industrial Financiera Y Agropecuaria (b)		179,576
		ELECTRIC UTILITY - 0.6%
	12,500	Empresa Distribuidora Y Comercializadora Norte S.A. (b)		192,750
		ENERGY EQUIPMENT & SERVICES - 0.1%
	11,000	CIA Energetica De Minas Gerais (b)		28,930
		OIL & GAS EXTRACTION - 3.5%
	3,500	Ecopetrol S.A. (b)		35,875
	35,935	Petróleo Brasileiro, S.A. (b)		496,981
	21,890	Transportadora de Gas del Sur S.A. (b)		301,644
	15,340	Vista Oil & Gas S.A. de C.V. (b)		370,001
				1,204,501
		REAL ESTATE - 0.9%
	22,570	IRSA Inversiones y Representaciones S.A. (b)		183,268
	30,000	Brandywine Realty Trust (c)		139,500
				322,768
		RETAIL - 0.8%
	28,013	Arcos Dorados Holdings, Inc. (b)		287,133
		TELECOMMUNICATIONS - 0.7%
	37,263	Telecom Argentina S.A. (b)		226,932

Modern Capital Tactical Opportunities Fund

SCHEDULE OF INVESTMENTS (Unaudited) (Continued)

June 30, 2023

Shares			Fair Value
		COMMON STOCK - 17.5% (Continued)
		TRANSPORTATION -1.5%
	12,000	Uber Technologies, Inc.	$	518,040
		TOTAL COMMON STOCK - (Cost $4,887,704)		6,014,287
		EXCHANGE-TRADED FUNDS - 0.8%
		FINANCIALS - 0.8%
	4,000	Direxion Daily Financial Bull 3x Shares		254,320
		TOTAL EXCHANGE-TRADED FUNDS - (Cost $245,373)		254,320

Shares			Coupon Rate (%)		Maturity	Fair Value
		PREFERRED STOCK - 1.5%
		BANKING -1.5%
	21,000	Wells Fargo & Co. (d)		6.625	Perpetual		529,410
		TOTAL PREFERRED STOCK - (Cost $524,178)					529,410

Principal Amount ($)			Coupon Rate (%)		Maturity	Fair Value
		SHORT TERM INVESTMESTS - 7.1%
		MONEY MARKET FUND - 7.1%
	2,443,334	First American Government Obligations Fund, Class X (e)		5.015			2,443,334
		TOTAL SHORT TERM INVESTMESTS - (Cost $2,443,334)					2,443,334
		TOTAL INVESTMENTS - 98.2% - (Cost $32,339,963)					33,748,523
		OTHER ASSETS IN EXCESS OF LIABILITIES - 1.8%					609,854
		NET ASSETS - - 100.0%				$	34,358,377

S.A.	Sociedad Anónima
S.A. de C.V.	Sociedad Anónima de Capital Variable
(a)	Non-income Producing Security.
(b)	American Depository Receipt (ADR)
(c)	Real Estate Investment Trust (REIT).
(d)	Perpetual security. Perpetual securities have no stated maturity date, but they may be called/redeemed by the issuer.
(e)	Rate disclosed is the seven day effective yield as of June 30, 2023.