ICON CONSUMER SELECT FUND

Portfolio of Investments

March 31, 2024

Security Description	Shares		Value
Common Stock (99.82%)
Communications (10.07%)
Expedia Group Inc*		12,900		1,776,975
eBay Inc		37,800		1,995,084
The Walt Disney Co		9,700		1,186,892
Total Communications				4,958,951
Consumer, Cyclical (35.65%)
Aramark		51,000		1,658,520
Dana Inc		133,500		1,695,450
Deckers Outdoor Corp*		4,200		3,953,292
Gentex Corp		58,500		2,113,020
Gentherm Inc*		14,800		852,184
Lear Corp		10,300		1,492,264
NIKE Inc		18,400		1,729,232
Skechers USA Inc*		47,800		2,928,228
Visteon Corp*		9,600		1,129,056
Total Consumer, Cyclical				17,551,246
Consumer, Non-cyclical (11.01%)
Darling Ingredients Inc*		28,100		1,306,931
Global Payments Inc		7,900		1,055,914
Lamb Weston Holdings Inc		17,400		1,853,622
Performance Food Group Co*		16,100		1,201,704
Total Consumer, Non-cyclical				5,418,171
Financial (43.09%)
American Express Co		5,500		1,252,295
Arch Capital Group Ltd*		20,500		1,895,020
Assurant Inc		10,300		1,938,872
Equitable Holdings Inc		39,200		1,489,992
Everest Group Ltd		3,200		1,272,000
The Hartford Financial Services Group Inc		12,900		1,329,345
LPL Financial Holdings Inc		13,100		3,461,020
Marsh & McLennan Cos Inc		11,500		2,368,770
Mastercard Inc		5,200		2,504,164
RenaissanceRe Holdings Ltd		6,500		1,527,695
Visa Inc		7,800		2,176,824
Total Financial				21,215,997
Total Common Stock (Cost $36,737,510)				49,144,365
Investment Companies (0.29%)
Money Market Funds (0.29%)
First American Government Obligations Fund		144,045		144,045
Total Investment Companies (Cost $144,045)				144,045
Total Investments (Cost $36,881,554) (100.11%)				49,288,410
Liabilities in Excess of Other Assets (-0.11%)				(54,932	)
Net Assets (100.00%)				49,233,478

* Non-income producing security.

ICON EQUITY FUND

Portfolio of Investments

March 31, 2024

Security Description	Shares		Value
Common Stock (94.87%)
Basic Materials (0.86%)
The Chemours Co		18,800		493,688
Communications (6.90%)
Extreme Networks Inc*		139,979		1,615,358
T-Mobile US Inc		7,200		1,175,184
Vodafone Group PLC		131,600		1,171,240
Total Communications				3,961,782
Consumer, Cyclical (9.04%)
Delta Air Lines Inc		18,100		866,447
Magna International Inc		28,200		1,536,336
NIKE Inc		22,700		2,133,346
Southwest Airlines Co		22,400		653,856
Total Consumer, Cyclical				5,189,985
Consumer, Non-cyclical (15.98%)
Anheuser-Busch InBev SA		18,800		1,142,664
The Boston Beer Co Inc*		3,600		1,095,912
Euronet Worldwide Inc*		13,350		1,467,566
Global Payments Inc		18,862		2,521,095
Performance Food Group Co*		39,500		2,948,280
Total Consumer, Non-cyclical				9,175,517
Energy (4.27%)
Baker Hughes Co		73,200		2,452,200
Financial (25.01%)
Bank of America Corp		32,488		1,231,945
Horace Mann Educators Corp		48,800		1,805,112
JPMorgan Chase & Co		10,200		2,043,060
LPL Financial Holdings Inc		14,000		3,698,800
Mastercard Inc		8,429		4,059,154
Truist Financial Corp		39,100		1,524,118
Total Financial				14,362,189
Industrial (30.09%)
Advanced Drainage Systems Inc		19,900		3,427,576
Alamo Group Inc		19,500		4,452,434
Armstrong World Industries Inc		21,600		2,683,152
Chart Industries Inc*		18,000		2,964,960
CSX Corp		36,200		1,341,934
Trinity Industries Inc		86,800		2,417,380
Total Industrial				17,287,436
Technology (2.72%)
Adobe Inc*		3,100		1,564,260
Total Common Stock (Cost $36,205,529)				54,487,057
Investment Companies (5.29%)
Money Market Funds (5.29%)
First American Government Obligations Fund		3,041,113		3,041,113
Total Investment Companies (Cost $3,041,113)				3,041,113
Total Investments (Cost $39,246,642) (100.16%)				57,528,170
Liabilities in Excess of Other Assets (-0.16%)				(94,186	)
Net Assets (100.00%)				57,433,984

* Non-income producing security.

ICON EQUITY INCOME FUND

Portfolio of Investments

March 31, 2024

Security Description	Shares		Value
Common Stock (56.49%)
Basic Materials (2.39%)
Kaiser Aluminum Corp		13,100	$	1,170,616
Communications (4.15%)
Nexstar Media Group Inc		11,800		2,033,022
Consumer, Cyclical (1.67%)
Leggett & Platt Inc		42,600		815,790
Consumer, Non-Cyclical (23.35%)
Amgen Inc		9,600		2,729,472
Bristol-Myers Squibb Co		28,500		1,545,555
GSK PLC		64,800		2,777,976
Ingredion Inc		14,700		1,717,695
Vector Group Ltd		243,300		2,666,568
Total Consumer, Non-Cyclical				11,437,266
Financial (10.69%)
ING Groep NV#		144,100		2,376,209
KeyCorp		107,600		1,701,156
Webster Financial Corp		22,800		1,157,556
Total Financial				5,234,921
Industrial (6.86%)
Lockheed Martin Corp		4,400		2,001,428
Trinity Industries Inc		48,800		1,359,080
Total Industrial				3,360,508
Utilities (7.38%)
Evergy Inc		28,400		1,515,992
DTE Energy Co		18,700		2,097,018
Total Industrial				3,613,010
Total Common Stock (Cost $25,361,930)				27,665,133
Preferred Stock (10.38%)
Financial (8.35%)
Annaly Capital Management Inc, 10.557%		14,880		373,637
Argo Group US Inc, 6.500%		23,591		535,516
Bank of America Corp, 7.250%		654		780,706
Equity Commonwealth, 6.500%		27,020		675,500
JPMorgan Chase & Co, 5.750%		22,323		558,521
Raymond James Financial Inc, 6.375%		22,032		552,402
Wells Fargo & Co, 7.500%		500		609,675
Total Financial				4,085,957
Government (2.03%)
Farm Credit Bank of Texas, 9.601% (144A)		10,000		995,000
Total Preferred Stock (Cost $5,047,492)				5,080,957

Security Description	Par Value		Value
Corporate Debt (28.11%)
Communications (3.60%)
Sprint LLC, 7.125%, 6/15/2024(a)		1,000,000		1,001,522
Uber Technologies Inc, 8.000%, 11/1/2026 (144A)		750,000		759,036
Total Communications				1,760,558
Consumer, Cyclical (13.64%)
Abercrombie & Fitch Management Co, 8.750%, 7/15/2025 (144A)		250,000		252,814
Air Canada 2017-1 Class B Pass Through Trust, 3.700%, 1/15/2026 (144A)		461,640		439,005
American Airlines 2013-1 Class A Pass Through Trust, 4.000%, 7/15/2025		552,656		535,632
American Airlines 2016-2 Class A Pass Through Trust, 3.650%, 6/15/2028		337,250		309,141
American Airlines 2017-1 Class B Pass Through Trust, 4.950%, 2/15/2025		379,750		374,308
American Airlines 2017-2 Class B Pass Through Trust, 3.700%, 10/15/2025		221,958		215,270
American Airlines 2019-1 Class A Pass Through Trust, 3.500%, 2/15/2032		391,499		340,586
American Airlines 2019-1 Class B Pass Through Trust, 3.850%, 2/15/2028		154,669		143,034
American Airlines 2021-1 Class B Pass Through Trust, 3.950%, 7/11/2030		648,750		597,097
British Airways 2021-1 Class A Pass Through Trust, 2.900%, 3/15/2035 (144A)		422,084		364,736
Century Communities Inc, 6.750%, 6/1/2027		250,000		251,546
The Goodyear Tire & Rubber Co, 9.500%, 5/31/2025		500,000		504,307
MGM Resorts International, 6.750%, 5/1/2025		750,000		749,522
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd, 6.500%, 6/20/2027 (144A)		325,000		327,069
United Airlines 2016-1 Class A Pass Through Trust, 3.450%, 7/7/2028		657,024		596,261
United Airlines 2018-1 Class A Pass Through Trust, 3.700%, 3/1/2030		367,383		329,050
United Airlines 2019-1 Class A Pass Through Trust, 4.550%, 8/25/2031		379,941		349,132
Total Consumer, Cyclical				6,678,510
Consumer, Non-Cyclical (1.88%)
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC, 4.625%, 1/15/2027 (144A)		250,000		242,048
Conagra Brands Inc, 7.125%, 10/1/2026		175,000		182,277
Williams Scotsman Inc, 6.125%, 6/15/2025 (144A)		500,000		497,675
Total Consumer, Non-Cyclical				922,000
Energy (0.51%)
NuStar Logistics LP, 6.375%, 10/1/2030		250,000		251,615
Total Energy				251,615
Financial (6.88%)
Bank of America Corp, 8.738%(a),(b)		500,000		502,263
The Charles Schwab Corp, 5.375%(b)		500,000		496,439
Citigroup Inc, 9.034%(b)		500,000		500,963
Credit Acceptance Corp, 6.625%, 3/15/2026#		220,000		219,850
JPMorgan Chase & Co, 5.000%(a),(b)		250,000		249,149
Nationwide Mutual Insurance Co, 7.881%, 12/15/2024 (144A)(b)		1,000,000		1,000,082
Wells Fargo & Co, 5.900%(a),(b)		400,000		398,311
Total Financial				3,367,057
Industrial (1.60%)
Fortress Transportation and Infrastructure Investors LLC, 6.500%, 10/1/2025 (144A)		250,000		249,610
MasTec Inc, 6.625%, 8/15/2029 (144A)		250,000		234,763
WESCO Distribution Inc, 7.125%, 6/15/2025 (144A)(a)		300,000		300,307
Total Industrial				784,680
Total Corporate Debt (Cost $13,565,247)				13,764,420

Security Description	Par Value		Value
Investment Companies (5.71%)
Exchange Traded Funds (2.09%)
Invesco Senior Loan ETF		24,600		520,290
SPDR Bloomberg Short Term High Yield Bond ETF		20,000		504,400
Total Exchange Traded Funds				1,024,690
Mutual Funds (2.35%)
RiverNorth Capital and Income Fund		29,597		469,408
Saba Capital Income & Opportunities Fund II		177,989		679,919
Total Mutual Funds				1,149,327
Money Market Funds (1.27%)
First American Government Obligations Fund		622,639		622,639
Total Investment Companies (Cost $2,812,211)				2,796,656
Right (0.01%)
RiverNorth Capital and Income Fund*,(c)		29,597		5,327
Collateral Received For Securities on Loan (5.24%)
First American Government Obligations Fund - Class X (Cost $2,565,193)		2,565,193		2,565,193
Total Investments (Cost $49,357,453) (105.94%)				51,877,686
Liabilities in Excess of Other Assets (-5.94%)				(2,909,499	)
Net Assets (100.00%)				48,968,187

# Loaned security; a portion of the security is on loan at March 31, 2024, in the amount of $2,453,282.

(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 March 31, 2024, these securities had a total aggregate market value of $5,662,145, which represented approximately 11.56% of net assets.

(a) This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.

(b) Floating or variable rate security. The reference rate is described above. The rate in effect as of March 31, 2024 is based on the reference rate plus the displayed spread as of the security’s last reset date.

(c) Level 3 security fair valued under procedures established by the Board of Trustees, represents 0.01% of net assets. The total value of the fair value security is $5,327.

ICON FLEXIBLE BOND FUND

Portfolio of Investments

March 31, 2024

Security Description	Shares		Value
Common Stock (1.44%)
Financial (1.44%)
AGNC Investment Corp		122,304		1,210,810
Goldman Sachs BDC Inc#		181,978		2,726,030
Total Common Stock (Cost $3,895,442)				3,936,840
Corporate Debt (73.54%)
Communications (3.29%)
Cincinnati Bell Telephone Co LLC, 6.300%, 12/1/2028		4,315,000		3,915,863
DISH Network Corp, 11.750%, 11/15/2027 (144A)		1,000,000		1,018,559
Hughes Satellite Systems Corp, 5.250%, 8/1/2026		3,000,000		2,500,667
Uber Technologies Inc, 8.000%, 11/1/2026 (144A)		1,500,000		1,518,072
Total Communications				8,953,161
Consumer, Cyclical (25.27%)
Abercrombie & Fitch Management Co, 8.750%, 7/15/2025 (144A)		1,750,000		1,769,696
Air Canada 2015-2 Class A Pass Through Trust, 4.125%, 12/15/2027 (144A)		801,767		751,885
Air Canada 2017-1 Class B Pass Through Trust, 3.700%, 1/15/2026 (144A)		2,089,384		1,986,938
American Airlines 2013-1 Class A Pass Through Trust, 4.000%, 7/15/2025		9,100,408		8,820,077
American Airlines 2015-2 Class A Pass Through Trust, 4.000%, 9/22/2027		1,242,027		1,165,214
American Airlines 2016-2 Class A Pass Through Trust, 3.650%, 6/15/2028		1,328,765		1,218,015
American Airlines 2017-1 Class B Pass Through Trust, 4.950%, 2/15/2025		3,797,500		3,743,083
American Airlines 2017-2 Class B Pass Through Trust, 3.700%, 10/15/2025		887,832		861,079
American Airlines 2019-1 Class A Pass Through Trust, 3.500%, 2/15/2032		3,053,694		2,656,572
American Airlines 2019-1 Class B Pass Through Trust, 3.850%, 2/15/2028		8,639,800		7,989,900
American Airlines 2021-1 Class B Pass Through Trust, 3.950%, 7/11/2030		3,676,250		3,383,550
American Airlines Inc, 7.250%, 2/15/2028 (144A)		1,000,000		1,016,592
British Airways 2021-1 Class A Pass Through Trust, 2.900%, 3/15/2035 (144A)		2,274,158		1,965,174
British Airways 2021-1 Class B Pass Through Trust, 3.900%, 9/15/2031 (144A)		1,642,830		1,498,165
Century Communities Inc, 6.750%, 6/1/2027		1,750,000		1,760,822
The Goodyear Tire & Rubber Co, 9.500%, 5/31/2025		1,500,000		1,512,920
IHO Verwaltungs GmbH, 4.750%, 9/15/2026 (144A)		1,000,000		973,691
JetBlue 2019-1 Class B Pass Through Trust, 8.000%, 11/15/2027		3,051,852		3,077,754
JetBlue 2020-1 Class B Pass Through Trust, 7.750%, 11/15/2028		2,037,595		2,081,382
MGM Resorts International, 6.750%, 5/1/2025(a)		2,500,000		2,498,407
Mileage Plus Holdings LLC / Mileage Plus Intellectual Property Assets Ltd, 6.500%, 6/20/2027 (144A)		1,950,000		1,962,414
SeaWorld Parks & Entertainment Inc, 8.750%, 5/1/2025 (144A)(a)		355,000		355,348
Sizzling Platter LLC / Sizzling Platter Finance Corp, 8.500%, 11/28/2025 (144A)		1,000,000		1,010,277
United Airlines 2016-1 Class A Pass Through Trust, 3.450%, 7/7/2028		5,913,217		5,366,347
United Airlines 2018-1 Class A Pass Through Trust, 3.700%, 3/1/2030		6,732,659		6,030,167
United Airlines 2018-1 Class B Pass Through Trust, 4.600%, 3/1/2026		848,703		818,959
United Airlines 2019-1 Class A Pass Through Trust, 4.550%, 8/25/2031		2,819,600		2,590,963
Total Consumer, Cyclical				68,865,391
Consumer, Non-cyclical (3.51%)
Albertsons Cos Inc / Safeway Inc / New Albertsons LP / Albertsons LLC, 4.625%, 1/15/2027 (144A)		1,250,000		1,210,238
Conagra Brands Inc, 7.125%, 10/1/2026		1,150,000		1,197,819
McKesson Corp, 7.650%, 3/1/2027#		2,000,000		2,134,499
Varex Imaging Corp, 7.875%, 10/15/2027 (144A)#		4,950,000		5,018,929
Total Consumer, Non-cyclical				9,561,485
Energy (6.54%)
Andeavor LLC, 5.125%, 12/15/2026		4,000,000		3,884,924
Cimarex Energy Co, 4.375%, 3/15/2029		3,000,000		2,668,508
Enbridge Inc, 6.000%, 1/15/2077(b)		3,000,000		2,932,228
Energy Transfer LP, 6.000%, 2/1/2029 (144A)		3,000,000		3,026,612
EQM Midstream Partners LP, 7.500%, 6/1/2027 (144A)		1,000,000		1,025,013
Northern Oil & Gas Inc, 8.125%, 3/1/2028 (144A)		1,250,000		1,268,974
NuStar Logistics LP, 6.375%, 10/1/2030		2,000,000		2,012,920
PDC Energy Inc, 5.750%, 5/15/2026		1,000,000		998,322
Total Energy				17,817,501
Financial (22.60%)
The Allstate Corp, 8.522%, 8/15/2053(b)		900,000		900,339
Bank of America Corp, 8.738%(a),(b)		7,364,000		7,397,329
The Charles Schwab Corp, 5.375%(b),#		3,500,000		3,475,074
Citigroup Inc, 4.700%(a),(b)		2,000,000		1,950,997
Citigroup Inc, 9.034%(b)		4,808,000		4,817,255
Credit Acceptance Corp, 6.625%, 3/15/2026#		2,600,000		2,598,227
Fidelity & Guaranty Life Holdings Inc, 5.500%, 5/1/2025 (144A)(a)		1,000,000		991,892
Fifth Third Bancorp, 8.693%(a),(b)		6,718,000		6,640,214

Security Description	Shares		Value
Fifth Third Bancorp, 8.597%(b)		500,000		489,251
First-Citizens Bank & Trust Co, 6.125%, 3/9/2028		2,000,000		2,055,244
Hunt Cos Inc, 5.250%, 4/15/2029 (144A)		1,000,000		913,102
JPMorgan Chase & Co, 4.600%(a),(b)		3,000,000		2,948,369
JPMorgan Chase & Co, 5.000%(b)		6,158,000		6,137,038
M&T Bank Corp, 9.194%(a),(b),#		1,000,000		1,002,493
Nationwide Mutual Insurance Co, 7.881%, 12/15/2024 (144A)(a)(b)		3,000,000		3,000,246
The PNC Financial Services Group Inc, 8.643%(b)		2,350,000		2,360,166
Talcott Resolution Life Inc, 7.650%, 6/15/2027		3,000,000		2,976,014
Truist Financial Corp, 8.693%(b)		2,400,000		2,416,202
UIRC-GSA Holdings II LLC, 4.250%, 6/30/2025 (144A)(a)		2,000,000		1,938,224
Wells Fargo & Co, 5.900%(b)		6,595,000		6,567,147
Total Financial				61,574,823
Industrial (5.95%)
AerCap Global Aviation Trust, 6.500%, 6/15/2045 (144A)(b)		2,000,000		1,988,493
Cascades Inc/Cascades USA Inc, 5.375%, 1/15/2028 (144A)		2,000,000		1,920,282
Danaos Corp, 8.500%, 3/1/2028 (144A)		2,010,000		2,051,207
Fortress Transportation and Infrastructure Investors LLC, 5.500%, 5/1/2028 (144A)		3,000,000		2,906,374
Fortress Transportation and Infrastructure Investors LLC, 9.750%, 8/1/2027 (144A)		2,500,000		2,588,448
Fortress Transportation and Infrastructure Investors LLC, 6.500%, 10/1/2025 (144A)		1,646,000		1,643,431
MasTec Inc, 6.625%, 8/15/2029 (144A)		1,250,000		1,173,817
Vontier Corp, 2.950%, 4/1/2031		1,500,000		1,254,482
WESCO Distribution Inc, 7.125%, 6/15/2025 (144A)(a)		688,000		688,703
Total Industrial				16,215,237
Technology (2.93%)
Dell Inc, 7.100%, 4/15/2028		3,000,000		3,220,416
Dell International LLC / EMC Corp, 6.100%, 7/15/2027		4,612,000		4,752,225
Total Technology				7,972,641
Utilities (3.45%)
Calpine Corp, 5.250%, 6/1/2026 (144A)		703,000		695,689
Dominion Energy Inc, 5.750%, 10/1/2054(b)		2,000,000		1,987,564
Duke Energy Corp, 4.875%(b)		4,000,000		3,965,122
Vistra Operations Co LLC, 5.000%, 7/31/2027 (144A)		1,460,000		1,413,835
Vistra Operations Co LLC, 5.500%, 9/1/2026 (144A)		1,350,000		1,329,289
Total Utilities				9,391,499
Total Corporate Debt (Cost $200,939,083)				200,351,738
Asset Backed Securities (0.96%)
SMB Private Education Loan Trust 2014-A, 4.500%, 9/15/2045 (144A)		3,000,000		2,612,288
Total Asset Backed Securities (Cost $2,907,978)				2,612,288
Preferred Stock (10.15%)
Argo Group US Inc, 6.500%		506,817		11,504,745
Bank of America Corp, 7.250%		1,700		2,029,358
Equity Commonwealth, 6.500%		354,095		8,852,375
NGL Energy Partners LP, 12.817%		85,012		2,498,503
Raymond James Financial Inc, 6.375%		110,230		2,763,764
Total Preferred Stock (Cost $27,654,137)				27,648,745
Investment Companies (12.70%)
Mutual Funds (8.86%)
BlackRock ESG Capital Allocation Term Trust		559,843		9,718,874
BlackRock Municipal Income Fund Inc		20,700		249,642
ClearBridge MLP & Midstream Fund Inc		38,537		1,764,224
ClearBridge MLP & Midstream Total Return Fund Inc		25,118		1,041,895
MFS High Yield Municipal Trust		832,355		2,771,742
MFS Investment Grade Municipal Trust		252,561		1,924,515
The New America High Income Fund Inc		241,639		1,759,132
RiverNorth Capital and Income Fund		97,611		1,548,110
Saba Capital Income & Opportunities Fund II		875,436		3,344,166
Total Mutual Funds				24,122,300
Exchange Traded Funds (0.11%)
SPDR Bloomberg Short Term High Yield Bond ETF		12,000		302,640
Money Market Funds (3.73%)
First American Government Obligations Fund		10,168,518		10,168,518
Total Investment Companies (Cost $33,494,228)				34,593,458
Right (0.01%)
RiverNorth Capital and Income Fund*,(c)		97,611		17,570
Collateral Received For Securities on Loan (3.08%)
First American Government Obligations Fund - Class X (Cost $8,399,846)		8,399,846		8,399,846
Total Investments (Cost $268,909,243) (101.88%)				277,560,485
Liabilities in Excess of Other Assets (-1.88%)				(5,109,487	)
Net Assets (100.00%)				272,450,998

# Loaned security; a portion of the security is on loan at March 31, 2024, in the amount of $7,964,412.

(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 March 31, 2024, these securities had a total aggregate market value of $55,231,897, which represented approximately 20.27% of net assets.

(a) This security has no contractual maturity date, is not redeemable and contractually pays an indefinite stream of interest.

(b) Floating or variable rate security. The reference rate is described above. The rate in effect as of March 31, 2024 is based on the reference rate plus the displayed spread as of the security’s last reset date.

(c) Level 3 security fair valued under procedures established by the Board of Trustees, represents 0.01% of net assets. The total value of the fair value security is $17,570.

ICON HEALTH AND INFORMATION TECHNOLOGY FUND

Portfolio of Investments

March 31, 2024

Security Description	Shares		Value
Common Stock (99.52%)
Communications (22.23%)
Alphabet Inc*		22,300		3,395,398
Arista Networks Inc*		21,300		6,176,574
CDW Corp		11,800		3,018,204
Cisco Systems Inc		53,900		2,690,149
GoDaddy Inc*		17,600		2,088,768
Meta Platforms Inc		6,500		3,156,270
Total Communications				20,525,363
Consumer, Non-cyclical (45.96%)
Alkermes PLC*		72,200		1,954,454
AstraZeneca PLC		30,000		2,032,500
The Cigna Group		10,100		3,668,219
Elevance Health Inc		9,700		5,029,838
Encompass Health Corp		29,100		2,403,078
HCA Healthcare Inc		8,000		2,668,240
Humana Inc		8,700		3,016,464
IQVIA Holdings Inc*		9,238		2,336,198
Jazz Pharmaceuticals PLC*		7,200		867,024
LiveRamp Holdings Inc*		114,300		3,943,350
Merck & Co Inc		16,100		2,124,395
Molina Healthcare Inc*		13,200		5,422,956
Select Medical Holdings Corp		78,800		2,375,820
UnitedHealth Group Inc		9,300		4,600,710
Total Consumer, Non-cyclical				42,443,246
Industrial (8.83%)
TD SYNNEX Corp		47,400		5,360,940
Universal Display Corp		16,600		2,796,270
Total Industrial				8,157,210
Technology (22.50%)
Autodesk Inc*		14,500		3,776,090
Fortinet Inc*		55,000		3,757,050
Globant SA*		11,900		2,402,610
Pegasystems Inc		35,000		2,262,400
Salesforce Inc		12,900		3,885,222
Taiwan Semiconductor Manufacturing Co Ltd		34,500		4,693,725
Total Technology				20,777,097
Total Common Stock (Cost $70,933,705)				91,902,916
Investment Companies (0.55%)	Par Value		Value
Money Market (0.55%)
First American Government Obligations Fund		512,240		512,240
Total Funds (Cost $512,240)				512,240
Total Investments (Cost $71,445,945) (100.07%)			$	92,415,156
Liabilities in Excess of Other Assets (-0.07%)				(68,897	)
Net Assets (100.00%)			$	92,346,259

* Non-income producing security.

ICON NATURAL RESOURCES & INFRASTRUCTURE FUND

Portfolio of Investments

March 31, 2024

Security Description	Shares		Value
Common Stock (95.96%)
Basic Materials (5.90%)
Carpenter Technology Corp		35,000		2,499,700
The Chemours Co		90,000		2,363,400
Haynes International Inc		28,000		1,683,360
Sociedad Quimica y Minera de Chile SA		20,000		983,200
Total Basic Materials				7,529,660
Consumer, Cyclical (11.04%)
Blue Bird Corp*		120,000		4,600,800
H&E Equipment Services Inc		46,000		2,952,280
JetBlue Airways Corp*		475,000		3,524,500
Southwest Airlines Co		103,000		3,006,570
Total Consumer, Cyclical				14,084,150
Energy (37.71%)
Archrock Inc		250,000		4,917,500
ChampionX Corp		100,000		3,589,000
DMC Global Inc*		75,000		1,461,750
Enterprise Products Partners LP		167,000		4,873,060
Equitrans Midstream Corp		350,000		4,371,500
Golar LNG Ltd		155,000		3,729,300
Helix Energy Solutions Group Inc*		240,000		2,601,600
NOV Inc		160,000		3,123,200
NuStar Energy LP		90,000		2,094,300
Oceaneering International Inc*		110,000		2,574,000
Patterson-UTI Energy Inc		400,000		4,776,000
Southwestern Energy Co*		300,000		2,274,000
Suncor Energy Inc		65,000		2,399,150
TETRA Technologies Inc*		400,000		1,772,000
YPF SA*		180,000		3,564,000
Total Energy				48,120,360
Industrial (37.36%)
AAR Corp*		80,000		4,789,600
Alamo Group Inc		12,000		2,739,960
Armstrong World Industries Inc		30,000		3,726,600
Canadian National Railway Co		20,000		2,634,200
Canadian Pacific Kansas City Ltd		14,000		1,234,380
Cemex SAB de CV*		545,000		4,910,450
CSX Corp		33,000		1,223,310
Granite Construction Inc		65,000		3,713,450
The Greenbrier Cos Inc		50,000		2,605,000
Hexcel Corp		15,000		1,092,750
Masco Corp		50,000		3,944,000
Old Dominion Freight Line Inc		14,200		3,114,202
Oshkosh Corp		30,500		3,803,655
Union Pacific Corp		11,500		2,828,195
Woodward Inc		23,000		3,544,760
ZTO Express Cayman Inc		85,000		1,779,900
Total Industrial				47,684,412
Utilities (3.95%)
New Jersey Resources Corp		57,985		2,488,136
ONE Gas Inc		39,457		2,546,160
Total Utilities				5,034,296
Total Common Stock (Cost $102,724,391)				122,452,878
Investment Companies (4.13%)
Exchange Traded Funds (0.20%)
Direxion Daily S&P Oil & Gas Exp. & Prod. Bull 2X Shares#		6,186		253,688
Money Market Funds (3.93%)
First American Government Obligations Fund		5,013,326		5,013,326
Total Investment Companies (Cost $5,242,433)				5,267,014
Collateral Reveived For Securities on Loan (0.54%)
First American Government Obligations Fund - Class X (Cost $669,697)		693,380		693,380
Total Investments (Cost $107,966,824) (100.63%)			$	128,413,272
Liabilities in Excess of Other Assets (-0.63%)				(803,815	)
Net Assets (100.00%)			$	127,609,458

* Non-income producing security.

# Loaned security; a portion of the security is on loan at March 31, 2024, in the amount of $669,697.

ICON UTILITIES AND INCOME FUND

Portfolio of Investments

March 31, 2024

Security Description	Shares		Value
Common Stock (100.05%)
Utilities (100.05%)
ALLETE Inc		20,700		1,234,548
Ameren Corp		20,000		1,479,200
American Electric Power Co Inc		19,800		1,704,780
Atmos Energy Corp		12,000		1,426,440
Avangrid Inc		32,100		1,169,724
Black Hills Corp		15,200		829,920
Consolidated Edison Inc		11,100		1,007,991
DTE Energy Co		5,900		661,626
Duke Energy Corp		5,400		522,234
Evergy Inc		16,900		902,122
Eversource Energy		18,000		1,075,860
National Fuel Gas Co		25,500		1,369,860
New Jersey Resources Corp		23,400		1,004,094
NextEra Energy Inc		25,800		1,648,878
NiSource Inc		47,151		1,304,197
ONE Gas Inc		13,700		884,061
Spire Inc		19,900		1,221,263
T-Mobile US Inc		4,000		652,880
Vodafone Group PLC		71,400		635,460
Xcel Energy Inc		14,400		774,000
Total Utilities				21,509,138
Total Common Stock (Cost $22,242,042)				21,509,138
Money Market Funds (0.43%)	Par Value		Value
First American Government Obligations Fund		91,903		91,903
Total Money Market Funds (Cost $91,903)				91,903
Total Investments (Cost $22,333,945)(100.48%)				21,601,041
Liabilities in Excess of Other Assets (-0.48%)				(104,123	)
Net Assets (100.00%)				21,496,918

* Non-income producing security.