Shares
Market
Value
COMMON
STOCKS
—
89.9%
Content
Creation
and
Aggregation
—
49.7%
13,000
comScore
Inc.†
........................................
$
43,420
10,000
Discovery
Inc.,
Cl. C†
...............................
229,000
18,000
Grupo
Televisa
SAB,
ADR
.........................
168,660
6,000
iHeartMedia
Inc.,
Cl. A†
............................
126,240
17,000
Liberty
Latin
America
Ltd.,
Cl. C†
..............
193,800
15,500
Liberty
Media
Acquisition
Corp.†
..............
164,455
15,100
Liberty
Media
Corp.-
Liberty
Braves,
Cl. C†
424,310
8,000
Liberty
Media
Corp.-
Liberty
Formula
One,
Cl. A†
...................................................
474,720
10,000
Liberty
Media
Corp.-
Liberty
SiriusXM,
Cl. C†
...................................................
508,500
1,000
Live
Nation
Entertainment
Inc.†
................
119,690
1,000
Madison
Square
Garden
Entertainment
Corp.†
..................................................
70,340
900
Madison
Square
Garden
Sports
Corp.†
.....
156,357
13,000
Sirius
XM
Holdings
Inc.
............................
82,550
3,000
ViacomCBS
Inc.,
Cl. B
..............................
90,540
2,852,582
Digital
Marketing
and
Retail
—
5.1%
33,000
Liberty
TripAdvisor
Holdings
Inc.,
Cl. A†
...
71,610
29,000
Qurate
Retail
Inc.,
Cl. A
.............................
220,400
292,010
Diversified
Consumer
Services
—
4.5%
2,000
Barnes
&
Noble
Education
Inc.†
................
13,620
110
Cie
de
L'Odet
SE
.......................................
166,563
600
IAC/InterActiveCorp.†
...............................
78,426
258,609
Telecommunication
Services
—
3.1%
3,300
AT&T
Inc.
.................................................
81,180
3,500
Telesat
Corp.†
..........................................
100,345
181,525
Telecommunications
—
3.8%
4,300
Comcast
Corp.,
Cl. A
................................
216,419
Television
and
Broadband
Services
—
21.5%
250
Charter
Communications
Inc.,
Cl. A†
.........
162,992
1,500
Liberty
Broadband
Corp.,
Cl. A†
................
241,350
2,000
Liberty
Broadband
Corp.,
Cl. C†
................
322,200
16,000
Liberty
Global
plc,
Cl. C†
..........................
449,440
1,600
Telenet
Group
Holding
NV
.........................
58,401
1,234,383
Wireless
Telecommunication
Services
—
2.2%
1,100
T-Mobile
US
Inc.†
.....................................
127,578
TOTAL
COMMON
STOCKS
..................
5,163,106
Shares
Market
Value
PREFERRED
STOCKS
—
2.3%
Digital
Marketing
and
Retail
—
1.3%
700
Qurate
Retail
Inc.,
8.000%,
03/15/31
........
$
72,254
Television
and
Broadband
Services
—
1.0%
2,000
Liberty
Broadband
Corp.,
Ser.
A,
7.000%
..
58,220
TOTAL
PREFERRED
STOCKS
...............
130,474
Principal
Amount
U.S.
GOVERNMENT
OBLIGATIONS
—
7.8%
$
450,000
U.S.
Treasury
Bills,
0.040%
to
0.060%††,
02/10/22
to
04/21/22
............................
449,969
TOTAL
INVESTMENTS
—
100.0%
(Cost
$4,988,545)
.................................
$
5,743,549
†
Non-income
producing
security.
††
Represents
annualized
yields
at
dates
of
purchase.
ADR
American
Depositary
Receipt