NPORT-P false 0000836267 XXXXXXXX S000055315 C000174094 C000174095 SCM Trust 811-05617 0000836267 254900SUSEM61EA08I06 1125 17th Street, Ste. 2550 Denver 80202-1805 800-955-9988 Shelton International Select Equity Fund S000055315 254900O22JSJD47Z9J19 2026-12-31 2026-03-31 N 42606214.95 82403.71 42523811.24 0 0 0 0 0 0 0 0 0 0 0 0 0 41410.98 N Al Sydbank AS GP5DT10VX1QRQUKVBK64 K9419V113 3535 NS USD 281396.79 0.6617393451 Long EC CORP DK N 1 N N N De'Longhi S.p.A. 8156000E09A52C4F8A38 T3508H102 20338 NS USD 704730.98 1.6572620361 Long EC CORP IT N 2 N N N Sacyr SA 959800XKAB9VNAVN9425 E35471114 50075 NS USD 243198.28 0.5719108257 Long EC CORP ES N 2 N N N Asahi Intecc Co Ltd. 353800J3AV2SCNIO8L39 J0279C107 43600 NS USD 916980.97 2.1563941313 Long EC CORP JP N 1 N N N Discoverie Group PLC 213800BMDLQU1VEEAN68 G2887F103 33885 NS USD 241286.1 0.567414098 Long EC CORP GB N 1 N N N FirstGroup PLC 549300DEJZCPWA4HKM93 G34604101 382194 NS USD 840731.7 1.9770845451 Long EC CORP GB N 1 N N N Keller Group PLC 549300QO4MBL43UHSN10 G5222K109 31080 NS USD 790636.63 1.8592797939 Long EC CORP GB N 1 N N N Renew Holdings 213800O3DC3V4WYA2E09 G7490A102 66574 NS USD 748972.92 1.7613024284 Long EC CORP GB N 1 N N N RioCan Real Estate Investment Trust 549300S8HVUSEU3JBY60 766910103 37200 NS USD 507717.52 1.1939605252 Long EC CORP CA N 1 N N N Finning International Inc. 549300QLDCP11KB6XW55 318071404 2058 NS USD 127321.54 0.299412344 Long EC CORP CA N 1 N N N Telefonaktiebolaget LM Ericsson (publ) 549300W9JLPW15XIFM52 294821608 67700 NS USD 762979 1.7942394573 Long EC CORP SE N 1 N N N Energie Versorgung Niederoesterreich AG 529900P4JZBFEVNEAE60 A19833101 7894 NS USD 259118.82 0.6093499441 Long EC CORP AT N 2 N N N Iren SpA 8156001EBD33FD474E60 T5551Y106 97536 NS USD 274841.39 0.6463235114 Long EC CORP IT N 1 N N N Storebrand ASA 5967007LIEEXZX7NA051 R85746106 17023 NS USD 306507.48 0.7207902374 Long EC CORP NO N 1 N N N Aica Kogyo Co Ltd. 353800I589BKZAOJD116 J00252106 23800 NS USD 542841.48 1.27655886 Long EC CORP JP N 1 N N N Amano Corp. N/A J01302108 8000 NS USD 190431.79 0.4478239002 Long EC CORP JP N 1 N N N Anritsu Corp. N/A J01554104 31800 NS USD 548590.22 1.2900777329 Long EC CORP JP N 1 N N N Resorttrust Inc. 353800FM9MYWH105SE11 J6448M108 31800 NS USD 347727.66 0.8177245874 Long EC CORP JP N 1 N N N Fuso Chemical Co Ltd. N/A J16601106 42600 NS USD 731682.97 1.7206429731 Long EC CORP JP N 1 N N N Fuji Corporation 353800G4VS3QLM6BSX66 J1R541101 23800 NS USD 698945.9 1.6436577052 Long EC CORP JP N 1 N N N Resolute Mining Ltd. 254900MP8JONT590XY28 Q81068100 734376 NS USD 706822.59 1.6621807157 Long EC CORP AU N 2 N N N Hirose Electric Co Ltd. N/A J19782101 1300 NS USD 165210.16 0.3885121187 Long EC CORP JP N 1 N N N Kanamoto Co Ltd N/A J29557105 7900 NS USD 216274.03 0.5085951228 Long EC CORP JP N 1 N N N Kissei Pharmaceutical Co Ltd N/A J33652108 7900 NS USD 231455.52 0.5442962737 Long EC CORP JP N 1 N N N Kitz Corp 52990071D57KBWPS6S92 J34039115 36600 NS USD 407940.12 0.9593216321 Long EC CORP JP N 1 N N N Konica Minolta Inc 549300SVK6KRUOL1A740 J36060119 239300 NS USD 773778.83 1.8196365929 Long EC CORP JP N 1 N N N Life Corporation N/A J38828109 23900 NS USD 382489.15 0.8994705292 Long EC CORP JP N 1 N N N MAX Co Ltd N/A J41508102 80000 NS USD 809007.45 1.9024810486 Long EC CORP JP N 1 N N N Meidensha Corporation 529900VFKHJPVURD7985 J41594102 15900 NS USD 751356.22 1.766907053 Long EC CORP JP N 1 N N N Mitsubishi Gas Chemical Co Inc. 529900G5O4J27ZPLJJ89 J43959113 23800 NS USD 539092.58 1.2677428581 Long EC CORP JP N 1 N N N Morinaga & Co., Ltd. N/A J46367108 15900 NS USD 270538.33 0.6362043338 Long EC CORP JP N 1 N N N Nifco Inc 353800JMDOH68J9I5140 654101104 7900 NS USD 218563.7 0.5139795649 Long EC CORP JP N 1 N N N Nippon Gas Co Ltd 549300N3DC5V2XON9C60 J50151117 16000 NS USD 295829.58 0.6956798353 Long EC CORP JP N 1 N N N Nippon Kayaku Co Ltd N/A J54236112 23800 NS USD 263248.13 0.6190605271 Long EC CORP JP N 1 N N N NOF Corp. N/A J58934100 15900 NS USD 310660.75 0.7305571654 Long EC CORP JP N 1 N N N Pillar Corp. N/A J55182109 4500 NS USD 198471.45 0.4667301547 Long EC CORP JP N 1 N N N Nissan Chemical Corp. 3538002E4L1CUGJFFU25 J56988108 22400 NS USD 846105.86 1.9897225468 Long EC CORP JP N 1 N N N Perpetual Ltd. 549300US8OE0UQWXPO82 Q9239H108 17038 NS USD 186440.19 0.4384371592 Long EC CORP AU N 2 N N N Tocalo Co Ltd N/A J84227123 36900 NS USD 581237.83 1.3668526246 Long EC CORP JP N 1 N N N Seiren Co Ltd 353800O8K6NWOIT8Q636 J70402102 15400 NS USD 299339.06 0.7039328115 Long EC CORP JP N 1 N N N Sumitomo Bakelite Co Ltd N/A J77024115 7900 NS USD 240315.54 0.5651317062 Long EC CORP JP N 1 N N N Tokyo Ohka Kogyo Co., Ltd. N/A J87430104 15900 NS USD 738533.08 1.7367518538 Long EC CORP JP N 1 N N N Tokyo Keiba Co Ltd N/A J88462106 7900 NS USD 282724.16 0.6648608198 Long EC CORP JP N 1 N N N Wacoal Holdings Corp. 3538002U6NJ8QTW6VR34 J94632122 7900 NS USD 196961.18 0.4631785681 Long EC CORP JP N 1 N N N Yamazaki Baking Co Ltd. N/A 984632109 15900 NS USD 355241.22 0.8353936527 Long EC CORP JP N 1 N N N Temenos AG 5067007NW6550481FH64 H8547Q107 2464 NS USD 212172.04 0.4989487861 Long EC CORP CH N 1 N N N Wendel Se 969500M98ZMIZYJD5O34 F98370103 1653 NS USD 147016.12 0.345726584 Long EC CORP FR N 1 N N N United States Treasury Bills 254900HROIFWPRGM1V77 912797SN8 500000 PA USD 498538.05 1.1723738665 Long DBT UST US N 2 2026-04-30 None 0 N N N N N N Azimut Holding SpA 81560025690EF8540635 T0783G106 15587 NS USD 582801.03 1.3705286826 Long EC CORP IT N 2 N N N Perseus Mining Ltd. 54930054ZDGKBCW3SM26 Q74174105 115369 NS USD 409934.14 0.9640108166 Long EC CORP AU N 2 N N N Jyske Bank AS 3M5E1GQGKL17HI6CPN30 K55633117 5282 NS USD 718751.2 1.690232317 Long EC CORP DK N 1 N N N Elekta AB 54930044O54BK617EP80 W2479G107 38577 NS USD 224905.04 0.52889201 Long EC CORP SE N 1 N N N Tamburi Investment Partners S.p.A. 81560017CF8066680595 T92123107 21180 NS USD 189963.94 0.4467236931 Long EC CORP IT N 1 N N N JCU Corp. N/A J2810V107 11300 NS USD 378771.75 0.8907286035 Long EC CORP JP N 1 N N N Wesdome Gold Mines Ltd. 254900D63U62QS84H719 95083R100 47600 NS USD 849792.29 1.9983916428 Long EC CORP CA N 1 N N N Mbb Se 967600M9R4EFYLPNWR50 D5345X106 2699 NS USD 532188.4 1.2515068252 Long EC CORP DE N 1 N N N Charter Hall Group N/A Q2308A138 47567 NS USD 611415.37 1.4378188412 Long EC CORP AU N 2 N N N Evertz Technologies Ltd. 254900ASG60X9475O884 30041N107 13200 NS USD 152835.31 0.3594111288 Long EC CORP CA N 1 N N N Aedifica SA 529900DTKNXL0AXQFN28 B0130A108 7998 NS USD 642003.12 1.5097497173 Long EC CORP BE N 1 N N N Qube Holdings Ltd. 391200RT2MUFEO3RFW25 Q7834B112 89075 NS USD 298682.54 0.7023889235 Long EC CORP AU N 2 N N N United Laboratories International Holdings Ltd 2549007JL3XIH77JXN70 G8813K108 104000 NS USD 127463.66 0.2997465568 Long EC CORP KY N 2 N N N Fukuoka Financial Group Inc. N/A J17129107 19500 NS USD 724033.32 1.7026538753 Long EC CORP JP N 1 N N N Superior Plus Corp 52990059VEQM9RBM0045 86828P103 106600 NS USD 514083.86 1.2089317608 Long EC CORP CA N 1 N N N Zigup PLC 213800B3ZUTDOZYVJB41 G7331W115 48679 NS USD 246442.52 0.5795400572 Long EC CORP GB N 1 N N N Stanmore Resources Ltd 52990090OHRBVS7DDA54 Q8675X106 54637 NS USD 103289.25 0.2428974426 Long EC CORP AU N 2 N N N Carmila SAS 222100P6D3QKU33LZQ72 F1387K266 12308 NS USD 236714.19 0.5566626864 Long EC CORP FR N 1 N N N Vermilion Energy Inc. 8945009D1HGCJC8M8A68 923725105 21100 NS USD 290709.22 0.6836386757 Long EC RF CA N 1 N N N Inchcape plc 213800RGEH1MPPNM2T57 G47320208 18499 NS USD 183633.56 0.4318370218 Long EC CORP GB N 1 N N N Altus Group Ltd 54930041VO1EIY4IV355 02215R107 9500 NS USD 326025.24 0.7666886633 Long EC CORP CA N 1 N N N Charter Hall Long WALE REIT N/A Q2308E106 92339 NS USD 213426.19 0.5018980749 Long EC CORP AU N 2 N N N Ringkjoebing Landbobank A/S 2138002M5U5K4OUMVV62 K81980144 1259 NS USD 299784.17 0.7049795427 Long EC CORP DK N 1 N N N Bausch Health Companies Inc. B3BS7ACMDUWISF18KY76 071734107 43141 NS USD 233164.43 0.5483149868 Long EC CORP CA N 1 N N N Platzer Fastigheter Holding AB (publ) 5493009KPII4BZE70820 W7S644112 41134 NS USD 293248.89 0.6896110237 Long EC CORP SE N 1 N N N Man Group PLC (New) 2549003YWC1DW6LALB09 G57991104 121131 NS USD 403374.54 0.9485851062 Long EC CORP JE N 1 N N N Aya Gold & Silver Inc 549300BWX8KJOTUL4M51 05466C109 16100 NS USD 245541.84 0.5774219969 Long EC CORP CA N 1 N N N Trainline PLC 213800HO26VXTFJ4MO71 G8992Y119 248024 NS USD 745181.57 1.7523866 Long EC CORP GB N 1 N N N Genuit Group PLC 2138005IF1N2RKJ6KO18 G7179X100 115241 NS USD 436992.71 1.0276423897 Long EC CORP GB N 1 N N N OVH Groupe SA 9695001J8OSOVX4TP939 F97637106 21667 NS USD 228390.01 0.5370873479 Long EC CORP FR N 1 N N N Pexa Group Ltd N/A Q9131W104 81564 NS USD 855944.22 2.0128586668 Long EC CORP AU N 2 N N N TP ICAP Group PLC 2138006YAA7IRVKKGE63 G8963N100 51745 NS USD 185943.4 0.4372688961 Long EC CORP JE N 1 N N N H Lundbeck A S 5493006R4KC2OI5D3470 K4406L137 46219 NS USD 285323.66 0.6709738654 Long EC CORP DK N 1 N N N Socionext Inc. N/A J75866103 40100 NS USD 472216.52 1.1104755341 Long EC CORP JP N 1 N N N Prairiesky Royalty Ltd. 529900AXG582AP7CV733 739721108 36400 NS USD 842386.7 1.9809764822 Long EC CORP CA N 1 N N N Kinaxis Inc 5299009VAZ14K7PFUQ15 49448Q109 2100 NS USD 211904.73 0.4983201736 Long EC CORP CA N 1 N N N Nordnet AB 549300D6WW5ZTWLZ4C08 W6S819112 28843 NS USD 929120.26 2.1849411727 Long EC CORP SE N 1 N N N FWD Group Holdings Ltd. 254900HEGGDS8WU5QZ97 G37048108 66600 NS USD 258042.74 0.6068194089 Long EC CORP KY Y 2 N N N Rockpoint Gas Storage Inc. N/A 773915103 42800 NS USD 859457.52 2.0211206262 Long EC CORP CA N 1 N N N Helia Group Ltd. 529900RUQ2G0JXJOF423 Q3983N155 53873 NS USD 195512.55 0.4597719355 Long EC CORP AU N 2 N N N DPM Metals Inc. 549300LATVTU0EIUMD45 26139R109 14140 NS USD 497762.8 1.1705507702 Long EC CORP CA N 1 N N N ams OSRAM AG 5299001JPPT2QFTV5D76 A0400Q156 33300 NS USD 342341.51 0.8050583897 Long EC CORP AT N 1 N N N Lithium Americas Corp 529900Q9ENG7EHHZ5R75 53681J103 33300 NS USD 132349.9 0.3112371543 Long EC CORP CA N 1 N N N DOF Group ASA 213800GIV9N2A714T434 R1883X116 22660 NS USD 325373.59 0.7651562278 Long EC CORP NO Y 1 N N N Gamma Communications Plc 213800LAQZXPRIZUEH50 G371B3109 62165 NS USD 584180.19 1.3737719479 Long EC CORP GB N 1 N N N ICE FUTURES U.S. 5493004R83R1LVX2IL36 N/A 6 NC USD 870330 2.0466886072 Long DE CORP US N 2 N/A N/A Long MSCI EAFE Index MFSM6 MSCI EAFE 2026-06-19 877635 USD -7305 N N N eToro Group Ltd. 213800XPRPJK2X5QRG86 G32089107 21200 NS USD 636636 1.497128271 Long EC CORP VG N 1 N N N Rotork PLC 213800AH5RZIHGWRJ718 G76717134 52071 NS USD 215440.55 0.5066350915 Long EC CORP GB N 1 N N N DormaKaba Holding AG 529900QMU5ZH99KMQK13 H1955W104 3913 NS USD 248609.13 0.5846351085 Long EC CORP CH N 1 N N N GemLife Communities Group Ltd. N/A Q3980C111 121174 NS USD 371201.87 0.8729270947 Long EC CORP AU N 1 N N N Global E Online Ltd N/A M5216V106 9900 NS USD 305415 0.7182211356 Long EC CORP IL N 1 N N N 2026-06-01 SCM Trust /s/ Gregory Pusch Gregory Pusch General Counsel and CCO XXXX