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          <ccc>XXXXXXXX</ccc>
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        <classId>C000221777</classId>
        <classId>C000221778</classId>
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      <regCik>0001815608</regCik>
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      <regStreet1>150 Prospect Street</regStreet1>
      <regStreet2>Unit 23</regStreet2>
      <regCity>Greenwich</regCity>
      <regStateConditional regCountry="US" regState="US-CT"/>
      <regZipOrPostalCode>06830</regZipOrPostalCode>
      <regPhone>252-972-9922</regPhone>
      <seriesName>Modern Capital Tactical Opportunities Fund</seriesName>
      <seriesId>S000069477</seriesId>
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      <repPdEnd>2022-03-31</repPdEnd>
      <repPdDate>2021-09-30</repPdDate>
      <isFinalFiling>N</isFinalFiling>
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      <totLiabs>1244376.52</totLiabs>
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      <assetsInvested>0</assetsInvested>
      <amtPayOneYrBanksBorr>0</amtPayOneYrBanksBorr>
      <amtPayOneYrCtrldComp>0</amtPayOneYrCtrldComp>
      <amtPayOneYrOthAffil>0</amtPayOneYrOthAffil>
      <amtPayOneYrOther>0</amtPayOneYrOther>
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      <amtPayAftOneYrCtrldComp>0</amtPayAftOneYrCtrldComp>
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        <name>BlackRock Enhanced</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Saba Capital Income</name>
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        <name>NexPoint Strategic O</name>
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        <name>Neuberger Berman</name>
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          <isin value="US89148B2007"/>
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        <balance>1600</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>46192</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIMCO Income</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>72201J104</cusip>
        <identifiers>
          <isin value="US72201J1043"/>
        </identifiers>
        <balance>28543</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>289426.02</valUSD>
        <pctVal>0.03</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PIMCO HIGH INCOME</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>722014107</cusip>
        <identifiers>
          <isin value="US7220141078"/>
        </identifiers>
        <balance>55501</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>348546.28</valUSD>
        <pctVal>0.04</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Permain Royalty</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>71425H100</cusip>
        <identifiers>
          <isin value="US71425H1005"/>
        </identifiers>
        <balance>98437</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>188999.04</valUSD>
        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RMR MORTGAGE</name>
        <lei>N/A</lei>
        <title>CLOSED-E</title>
        <cusip>76970B101</cusip>
        <identifiers>
          <isin value="US81784E1010"/>
        </identifiers>
        <balance>30483</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>314279.73</valUSD>
        <pctVal>0.04</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Salient Midstream &amp;</name>
        <lei>5493004WQSDUD0W6BV62</lei>
        <title>CLOSED-E</title>
        <cusip>79471V105</cusip>
        <identifiers>
          <isin value="US79471V1052"/>
        </identifiers>
        <balance>19368</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>122986.8</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SWISS HELVETIA FUND</name>
        <lei>549300HQZ0XPGTS5Q724</lei>
        <title>CLOSED-E</title>
        <cusip>870875101</cusip>
        <identifiers>
          <isin value="US8708751016"/>
        </identifiers>
        <balance>6169</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56631.42</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Virtus Total Return</name>
        <lei>549300KKRHI4GF7RNQ81</lei>
        <title>CLOSED-E</title>
        <cusip>92835W107</cusip>
        <identifiers>
          <isin value="US92835W1071"/>
        </identifiers>
        <balance>12314</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114643.34</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BBVA ARGENTINA</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>058934100</cusip>
        <identifiers>
          <isin value="US0589341009"/>
        </identifiers>
        <balance>19793</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>76994.77</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BRF SA</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>10552T107</cusip>
        <identifiers>
          <isin value="US10552T1079"/>
        </identifiers>
        <balance>15000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>75300</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Despegar.com Corp</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>G27358103</cusip>
        <identifiers>
          <isin value="VGG273581030"/>
        </identifiers>
        <balance>5000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60150</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>VI</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Kimbell Royalty Part</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>49435R102</cusip>
        <identifiers>
          <isin value="US49435R1023"/>
        </identifiers>
        <balance>12499</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>176610.87</valUSD>
        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Sabine Royalty Trust</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>785688102</cusip>
        <identifiers>
          <isin value="US7856881021"/>
        </identifiers>
        <balance>2000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>85660</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Grupo Supervielle</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>40054A108</cusip>
        <identifiers>
          <isin value="US40054A1088"/>
        </identifiers>
        <balance>13000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>29250</valUSD>
        <pctVal>0</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Transportadora de</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>893870204</cusip>
        <identifiers>
          <isin value="US8938702045"/>
        </identifiers>
        <balance>10000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>49300</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>TREMONT MORTGAGE</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>894789106</cusip>
        <identifiers>
          <isin value="US8947891060"/>
        </identifiers>
        <balance>9300</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>48546</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Voc Energy Trust</name>
        <lei>N/A</lei>
        <title>COMMSTCK</title>
        <cusip>91829B103</cusip>
        <identifiers>
          <isin value="US91829B1035"/>
        </identifiers>
        <balance>33772</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>155013.48</valUSD>
        <pctVal>0.02</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Franklin FTSE Brazil</name>
        <lei>N/A</lei>
        <title>ETF</title>
        <cusip>35473P835</cusip>
        <identifiers>
          <isin value="US35473P8352"/>
        </identifiers>
        <balance>3000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>60070.5</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>MV OIL TRUST</name>
        <lei>N/A</lei>
        <title>GRANTOR</title>
        <cusip>553859109</cusip>
        <identifiers>
          <isin value="US5538591091"/>
        </identifiers>
        <balance>9677</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>83899.59</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GRANTOR"/>
        <issuerConditional desc="Mutual Fund" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Permian Basin Royalt</name>
        <lei>N/A</lei>
        <title>GRANTOR</title>
        <cusip>714236106</cusip>
        <identifiers>
          <isin value="US7142361069"/>
        </identifiers>
        <balance>20000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>114600</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GRANTOR"/>
        <issuerConditional desc="Mutual Fund" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>PermRock Royalty</name>
        <lei>N/A</lei>
        <title>GRANTOR</title>
        <cusip>714254109</cusip>
        <identifiers>
          <isin value="US7142541090"/>
        </identifiers>
        <balance>11019</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>73386.54</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GRANTOR"/>
        <issuerConditional desc="Mutual Fund" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>San Juan</name>
        <lei>N/A</lei>
        <title>GRANTOR</title>
        <cusip>798241105</cusip>
        <identifiers>
          <isin value="US7982411057"/>
        </identifiers>
        <balance>73102</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>369896.12</valUSD>
        <pctVal>0.04</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetConditional assetCat="OTHER" desc="GRANTOR"/>
        <issuerConditional desc="Mutual Fund" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>BLACK STONE MINERALS</name>
        <lei>N/A</lei>
        <title>MLP</title>
        <cusip>09225M101</cusip>
        <identifiers>
          <isin value="US09225M1018"/>
        </identifiers>
        <balance>6000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72300</valUSD>
        <pctVal>0.01</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Federated Government</name>
        <lei>254900VAJ9169N7JRF45</lei>
        <title>MONEYMKT</title>
        <cusip>60934N104</cusip>
        <identifiers>
          <other otherDesc="Ticker" value="GOIXX"/>
        </identifiers>
        <balance>1573134.9</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1573134.87</valUSD>
        <pctVal>0.18</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerConditional desc="Money Market" issuerCat="OTHER"/>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2021-11-10</ncom:dateSigned>
      <ncom:nameOfApplicant>Modern Capital Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>Edward Royal</ncom:signature>
      <ncom:signerName>Edward Royal</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
