06/09/2024 | Press release | Distributed by Public on 06/09/2024 15:31
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-CSR
CERTIFIED SHAREHOLDER REPORT OF REGISTERED
MANAGEMENT INVESTMENT COMPANIES
Investment Company Act file number 811-23583
Mason Capital Fund Trust
(Exact name of registrant as specified in charter)
50 Federal Street, 9th Floor
Boston, MA 02110
(Address of principal executive offices) (Zip code)
Elliot Bruce
Mason Capital Partners
50 Federal Street, 9th Floor
Boston, MA 02110
(Name and address of agent for service)
(617) 228-5190
Registrant's telephone number, including area code
Date of fiscal year end: 6/30/2024
Date of reporting period: 6/30/2024
Item 1. Reports to Stockholders.
(a) | A copy of the reports transmitted to shareholders pursuant to Rule 30e-1 under the Investment Company Act of 1940, as amended ("Act"), is filed herewith. |
Fundamentals First ETF
|
||
KNOW(Principal U.S. Listing Exchange: CBOE )
|
||
Annual Shareholder Report | June 30, 2024
|
Fund Name
|
Costs of a $10,000 investment
|
Costs paid as a percentage of a $10,000 investment
|
Fundamentals First ETF
|
$36*
|
1.00%**
|
Top Contributors
|
|
↑
|
Gulf Keystone Petroleum Ltd.; Agilysys, Inc.; Alphabet, Inc.; Taiwan Semiconductor Manufacturing Co. Ltd; Western Midstream Partners LP
|
Top Detractors
|
|
↓
|
DLH Holdings Corp.; Lincoln Electric Holdings, Inc.; Straumann Holding AG; Banco del Bajio SA; LKQ Corp.
|
Fundamentals First ETF | PAGE 1 | TSR_AR_574817102 |
Since Inception
(02/21/2024) |
|
Fundamentals First ETF NAV
|
2.88%
|
Fundamentals First ETF Market
|
3.11%
|
S&P 500® Index
|
10.16%
|
* | The Fund's past performance is not a good predictor of the Fund's future performance. The returns do not reflect the deduction of taxes that a shareholder would pay on Fund distributions or redemption of Fund shares. |
Net Assets
|
$2,554,555
|
Number of Holdings
|
103
|
Net Advisory Fee
|
$7,439
|
Portfolio Turnover
|
1%
|
30-Day SEC Yield
|
2.22%
|
Distribution Yield
|
2.10%
|
Top 10 Holdings (% of net assets)
|
|
Taiwan Semiconductor Manufacturing Co. Ltd.
|
1.9%
|
Alphabet, Inc.
|
1.8%
|
KLA Corp.
|
1.8%
|
Dollarama, Inc.
|
1.7%
|
Mettler-Toledo International, Inc.
|
1.6%
|
JPMorgan 100% US Treasury Securities Money Market Fund
|
1.6%
|
Schneider Electric SE
|
1.6%
|
Cie Generale des Etablissements Michelin SCA
|
1.5%
|
Enterprise Products Partners LP
|
1.5%
|
Cummins, Inc.
|
1.5%
|
Fundamentals First ETF | PAGE 2 | TSR_AR_574817102 |
(b) | Not applicable. |
Item 2. Code of Ethics.
The registrant has adopted a code of ethics that applies to the registrant's principal executive officer and principal financial officer. The registrant has not made any substantive amendments to its code of ethics during the period covered by this report. The registrant has not granted any waivers from any provisions of the code of ethics during the period covered by this report.
A copy of the registrant's Code of Ethics is filed herewith.
Item 3. Audit Committee Financial Expert.
The registrant's board of trustees has determined that there is at least one audit committee financial expert serving on its audit committee. Mr. Jerry Richardson and Mr. Mark Koenig are the "audit committee financial experts" and are considered to be "independent" as each term is defined in Item 3 of Form N-CSR.
Item 4. Principal Accountant Fees and Services.
The registrant has engaged its principal accountant to perform audit services, audit-related services, tax services and/or other services during the past two fiscal years. "Audit services" refer to performing an audit of the registrant's annual financial statements or services that are normally provided by the accountant in connection with statutory and regulatory filings or engagements for the fiscal year. "Audit-related services" refer to the assurance and related services by the principal accountant that are reasonably related to the performance of the audit. "Tax services" refer to professional services rendered by the principal accountant for tax compliance, tax advice, and tax planning. The following table details the aggregate fees billed or expected to be billed for the last two fiscal years for audit fees, audit-related fees, tax fees and other fees by the principal accountant.
FYE 6/30/2024 | FYE 6/30/2023 | |
(a) Audit Fees | $12,600 | Not applicable |
(b) Audit-Related Fees | None | Not applicable |
(c) Tax Fees | $3,000 | Not applicable |
(d) All Other Fees | None | Not applicable |
(e)(1) The audit committee does not have pre-approval policies and procedures. Instead, the audit committee approves on a case-by-case basis each audit or non-audit service before the principal accountant is engaged by the registrant.
(e)(2) The percentage of services described in each of paragraphs (b) through (d) of this Item that were approved by the audit committee pursuant to paragraph (c)(7)(i)(C) of Rule 2-01 of Regulation S-X were as follows.
FYE 6/30/2024 | FYE 6/30/2023 | |
Audit-Related Fees | 0% | Not applicable |
Tax Fees | 0% | Not applicable |
All Other Fees | 0% | Not applicable |
(f) Not applicable.
(g) The following table indicates the non-audit fees billed or expected to be billed by the registrant's accountant for services to the registrant and to the registrant's investment adviser (and any other controlling entity, etc.-not sub-adviser) for the last two years.
Non-Audit Related Fees | FYE 6/30/2024 | FYE 6/30/2023 |
Registrant | None | Not applicable |
Registrant's Investment Adviser | None | Not applicable |
(h) The audit committee of the board of trustees did not consider whether the provision of non-audit services that were rendered to the registrant's investment adviser is compatible with maintaining the principal accountant's independence
(i) Not applicable
(j) Not applicable
Item 5. Audit Committee of Listed Registrants.
The registrant is an issuer as defined in Rule 10A-3 under the Securities Exchange Act of 1934, as amended (the "Exchange Act") and has a separately-designated standing audit committee established in accordance with Section 3(a)(58)A of the Exchange Act. The registrant's audit committee members are Mr. Jerry Richardson and Mr. Mark Koenig.
Item 6. Investments.
(a) Schedule of Investments is included within the financial statements filed under Item 7(a) of this Form.
(b) Not applicable
Item 7. Financial Statements and Financial Highlights for Open-End Investment Companies.
(a) | The registrant's Financial Statements are filed herewith. |
Page
|
|||
Schedule of Investments
|
1
|
||
Statement of Assets and Liabilities
|
5
|
||
Statement of Operations
|
6
|
||
Statement of Changes in Net Assets
|
7
|
||
Financial Highlights
|
8
|
||
Notes to the Financial Statements
|
9
|
||
Report of Independent Registered Public Accounting Firm
|
14
|
||
Basis for Approval of Investment Advisory Agreement
|
15
|
||
Other Unaudited Information
|
17
|
||
TABLE OF CONTENTS
Shares
|
Value
|
|||||
COMMON STOCKS - 81.2%
|
||||||
Communications - 3.2%
|
||||||
Alphabet, Inc. - Class C
|
250
|
$45,855
|
||||
Comcast Corp. - Class A
|
260
|
10,182
|
||||
Meta Platforms, Inc. - Class A
|
50
|
25,211
|
||||
81,248
|
||||||
Consumer Discretionary - 8.4%
|
||||||
America's Car-Mart, Inc.(a)
|
370
|
22,278
|
||||
Cie Generale des Etablissements Michelin SCA
|
995
|
38,479
|
||||
Climb Global Solutions, Inc.
|
379
|
23,805
|
||||
Coats Group PLC
|
26,290
|
26,320
|
||||
Dana, Inc.
|
785
|
9,514
|
||||
LKQ Corp.
|
460
|
19,131
|
||||
Martinrea International, Inc.
|
2,230
|
18,746
|
||||
McDonald's Corp.
|
120
|
30,581
|
||||
Texas Roadhouse, Inc.
|
155
|
26,615
|
||||
215,469
|
||||||
Consumer Staples - 2.6%
|
||||||
Church & Dwight Co., Inc.
|
235
|
24,365
|
||||
Dollarama, Inc.
|
465
|
42,457
|
||||
66,822
|
||||||
Energy - 14.7%
|
||||||
APA Corp.
|
535
|
15,750
|
||||
Bonterra Energy Corp.(a)
|
3,015
|
11,350
|
||||
Chord Energy Corp.
|
105
|
17,572
|
||||
Dorchester Minerals LP
|
955
|
29,462
|
||||
Enbridge, Inc.
|
490
|
17,439
|
||||
Energy Transfer LP
|
2,020
|
32,764
|
||||
Enterprise Products Partners LP
|
1,305
|
37,819
|
||||
Gaztransport Et Technigaz SA
|
165
|
21,541
|
||||
Global Partners LP
|
750
|
34,223
|
||||
Gulf Keystone Petroleum Ltd.(a)
|
8,555
|
15,908
|
||||
Keyera Corp.
|
440
|
12,186
|
||||
Kinder Morgan, Inc.
|
620
|
12,319
|
||||
Magnolia Oil & Gas Corp. - Class A
|
790
|
20,019
|
||||
Pembina Pipeline Corp.
|
495
|
18,355
|
||||
TotalEnergies SE - ADR
|
555
|
37,007
|
||||
Vermilion Energy, Inc.
|
985
|
10,845
|
||||
Western Midstream Partners LP
|
795
|
31,585
|
||||
376,144
|
||||||
Financials - 5.3%
|
||||||
Banco del Bajio SA(b)
|
4,260
|
12,993
|
||||
Commonwealth Bank of Australia
|
140
|
11,896
|
||||
FB Financial Corp.
|
450
|
17,563
|
||||
Lakeland Financial Corp.
|
255
|
15,688
|
||||
Plumas Bancorp
|
475
|
17,091
|
||||
1
|
TABLE OF CONTENTS
Shares
|
Value
|
|||||
COMMON STOCK - (Continued)
|
||||||
Financials - (Continued)
|
||||||
Prosperity Bancshares, Inc.
|
365
|
$22,316
|
||||
Sabre Insurance Group PLC(b)
|
8,370
|
15,913
|
||||
SpareBank 1 SR-Bank ASA
|
1,885
|
23,057
|
||||
136,517
|
||||||
Health Care - 4.1%
|
||||||
Mettler-Toledo International, Inc.(a)
|
30
|
41,928
|
||||
Novartis AG - ADR
|
230
|
24,486
|
||||
Straumann Holding AG
|
140
|
17,343
|
||||
US Physical Therapy, Inc.
|
225
|
20,794
|
||||
104,551
|
||||||
Industrials - 20.7%
|
||||||
Cummins, Inc.
|
135
|
37,385
|
||||
DLH Holdings Corp.(a)
|
665
|
7,022
|
||||
Emerson Electric Co.
|
220
|
24,235
|
||||
Fastenal Co.
|
505
|
31,734
|
||||
FLEX LNG Ltd.
|
395
|
10,681
|
||||
Graco, Inc.
|
405
|
32,108
|
||||
Grupo Aeroportuario del Pacifico SAB de CV - ADR
|
150
|
23,365
|
||||
Honeywell International, Inc.
|
115
|
24,557
|
||||
Hubbell, Inc.
|
100
|
36,548
|
||||
IDEX Corp.
|
75
|
15,090
|
||||
ITT, Inc.
|
185
|
23,898
|
||||
Lincoln Electric Holdings, Inc.
|
95
|
17,921
|
||||
Nordson Corp.
|
90
|
20,875
|
||||
Norfolk Southern Corp.
|
65
|
13,955
|
||||
Parker-Hannifin Corp.
|
70
|
35,407
|
||||
Schneider Electric SE
|
165
|
39,635
|
||||
SFL Corp. Ltd.
|
1,800
|
24,984
|
||||
Snap-on, Inc.
|
135
|
35,288
|
||||
SThree PLC
|
4,290
|
22,343
|
||||
Tennant Co.
|
165
|
16,243
|
||||
WW Grainger, Inc.
|
40
|
36,090
|
||||
529,364
|
||||||
Materials - 8.1%
|
||||||
AptarGroup, Inc.
|
170
|
23,938
|
||||
Avery Dennison Corp.
|
110
|
24,051
|
||||
Bioceres Crop Solutions Corp.(a)
|
1,280
|
14,349
|
||||
Givaudan SA - ADR
|
355
|
33,622
|
||||
Labrador Iron Ore Royalty Corp.
|
1,005
|
21,378
|
||||
Linde PLC
|
85
|
37,299
|
||||
Sherwin-Williams Co.
|
115
|
34,319
|
||||
Treatt PLC
|
3,205
|
17,401
|
||||
206,357
|
||||||
2
|
TABLE OF CONTENTS
Shares
|
Value
|
|||||
COMMON STOCK - (Continued)
|
||||||
Technology - 11.8%
|
||||||
Agilysys, Inc.(a)
|
135
|
$14,059
|
||||
Automatic Data Processing, Inc.
|
140
|
33,416
|
||||
Fiserv, Inc.(a)
|
240
|
35,770
|
||||
Garmin Ltd.
|
190
|
30,955
|
||||
KLA Corp.
|
55
|
45,348
|
||||
Lam Research Corp.
|
25
|
26,621
|
||||
Paychex, Inc.
|
290
|
34,382
|
||||
ServiceNow, Inc.(a)
|
18
|
14,160
|
||||
Skyworks Solutions, Inc.
|
165
|
17,586
|
||||
Taiwan Semiconductor Manufacturing Co. Ltd. - ADR
|
280
|
48,667
|
||||
300,964
|
||||||
Utilities - 2.3%
|
||||||
Atmos Energy Corp.
|
150
|
17,497
|
||||
Chesapeake Utilities Corp.
|
220
|
23,364
|
||||
ONE Gas, Inc.
|
280
|
17,878
|
||||
58,739
|
||||||
TOTAL COMMON STOCKS
(Cost $2,077,727)
|
2,076,175
|
|||||
EXCHANGE TRADED FUNDS - 12.0%
|
||||||
iShares iBonds Dec 2026 Term Corporate ETF
|
1,285
|
30,609
|
||||
iShares iBonds Dec 2027 Term Corporate ETF
|
1,290
|
30,612
|
||||
iShares iBonds Dec 2028 Term Corporate ETF
|
1,235
|
30,591
|
||||
iShares iBonds Dec 2029 Term Corporate ETF
|
1,350
|
30,604
|
||||
iShares iBonds Dec 2030 Term Corporate ETF
|
1,445
|
30,721
|
||||
iShares iBonds Dec 2031 Term Corporate ETF
|
1,510
|
30,638
|
||||
iShares iBonds Dec 2032 Term Corporate ETF
|
1,245
|
30,577
|
||||
iShares iBonds Dec 2033 Term Corporate ETF
|
1,215
|
30,618
|
||||
SPDR ICE Preferred Securities ETF
|
890
|
30,198
|
||||
VanEck Preferred Securities ex Financials ETF
|
1,755
|
30,361
|
||||
TOTAL EXCHANGE TRADED FUNDS
(Cost $306,205)
|
305,529
|
|||||
REAL ESTATE INVESTMENT TRUSTS - 4.5%
|
||||||
Armada Hoffler Properties, Inc.
|
2,570
|
28,501
|
||||
BRT Apartments Corp.
|
1,030
|
17,994
|
||||
Community Healthcare Trust, Inc.
|
620
|
14,502
|
||||
Precinct Properties New Zealand Ltd.
|
14,220
|
9,658
|
||||
Primaris Real Estate Investment Trust
|
1,635
|
15,859
|
||||
Tanger, Inc.
|
1,025
|
27,788
|
||||
TOTAL REAL ESTATE INVESTMENT TRUSTS
(Cost $116,636)
|
114,302
|
|||||
3
|
TABLE OF CONTENTS
Shares
|
Value
|
|||||
Business Development Companies - 0.6%
|
||||||
Gladstone Investment Corp.
|
1,165
|
$16,286
|
||||
TOTAL Business Development Companies
(Cost $16,245)
|
16,286
|
|||||
SHORT-TERM INVESTMENTS - 1.6%
|
||||||
Money Market Funds - 1.6%
|
||||||
JPMorgan 100% US Treasury Securities Money Market Fund - Capital Class, 5.19%(c)
|
40,393
|
40,393
|
||||
TOTAL SHORT-TERM INVESTMENTS
(Cost $40,393)
|
40,393
|
|||||
TOTAL INVESTMENTS - 99.9%
(Cost $2,557,206)
|
$2,552,685
|
|||||
Other Assets in Excess of Liabilities - 0.1%
|
1,870
|
|||||
TOTAL NET ASSETS - 100.0%
|
$2,554,555
|
|||||
(a)
|
Non-income producing security.
|
(b)
|
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of June 30, 2024, the value of these securities total $28,906 or 1.1% of the Fund's net assets.
|
(c)
|
The rate shown represents the 7-day annualized effective yield as of June 30, 2024.
|
4
|
TABLE OF CONTENTS
ASSETS:
|
|||
Investments, at value
|
$2,552,685
|
||
Cash
|
355
|
||
Dividends and interest receivable
|
3,622
|
||
Total assets
|
2,556,662
|
||
LIABILITIES:
|
|||
Payable to adviser
|
2,107
|
||
Total liabilities
|
2,107
|
||
NET ASSETS
|
$2,554,555
|
||
NETASSETSCONSISTS OF:
|
|||
Paid-in capital
|
$2,558,910
|
||
Total accumulated losses
|
(4,355)
|
||
Total net assets
|
$2,554,555
|
||
Net asset
|
$2,554,555
|
||
Shares issued and outstanding(a)
|
250,000
|
||
Net asset value, offering and redemption price per share
|
$10.22
|
||
COST:
|
|||
Investments, at cost
|
$2,557,206
|
||
(a)
|
Unlimited shares authorized without par value.
|
5
|
TABLE OF CONTENTS
INVESTMENT INCOME:
|
|||
Dividend income
|
$24,111
|
||
Less: Dividend withholding taxes
|
(1,679)
|
||
Interest income
|
1,028
|
||
Total investment income
|
23,460
|
||
EXPENSES:
|
|||
Investment advisory fee
|
7,439
|
||
Total expenses
|
7,439
|
||
NET INVESTMENT INCOME
|
16,021
|
||
REALIZED AND UNREALIZED LOSS ON INVESTMENTS
|
|||
Net realized loss from:
|
|||
Investments
|
13
|
||
Foreign currency translation transactions
|
(30)
|
||
Net realized loss
|
(17)
|
||
Net change in unrealized depreciation on:
|
|||
Investments
|
(4,521)
|
||
Foreign currency translation
|
(2)
|
||
Net change in unrealized depreciation
|
(4,523)
|
||
Net realized and unrealized loss on investments
|
(4,540)
|
||
NET INCREASE IN NET ASSETS RESULTING FROM OPERATIONS
|
$11,481
|
||
(a)
|
The Fund commenced operations on February 21, 2024.
|
6
|
TABLE OF CONTENTS
OPERATIONS:
|
|||
Net investment income
|
$16,021
|
||
Net realized loss
|
(17)
|
||
Net change in unrealized depreciation
|
(4,523)
|
||
Net increase in net assets from operations
|
11,481
|
||
DISTRIBUTIONS TO SHAREHOLDERS:
|
|||
Distributions to shareholders
|
(15,836)
|
||
Total distributions to shareholders
|
(15,836)
|
||
CAPITAL TRANSACTIONS:
|
|||
Subscriptions
|
2,058,910
|
||
Net increase in net assets from capital transactions
|
2,058,910
|
||
NET INCREASE IN NET ASSETS
|
2,054,555
|
||
NET ASSETS:
|
|||
Beginning of the period(b)
|
$500,000
|
||
End of the period
|
$2,554,555
|
||
SHARES TRANSACTIONS
|
|||
Subscriptions
|
200,000
|
||
Total increase in shares outstanding
|
200,000
|
||
(a)
|
The Fund commenced operations on February 21, 2024.
|
(b)
|
The Fund was organized with 50,000 shares of beneficial interest on August 7, 2023 for $500,000, which represents the seed investment made by a Principal of the Adviser. The Fund commenced operations on February 21, 2024.
|
7
|
TABLE OF CONTENTS
Period Ended
June 30, 2024(a)
|
|||
PER SHARE DATA:
|
|||
Net asset value, beginning of period
|
$10.00
|
||
INVESTMENTS OPERATIONS:
|
|||
Net investment income(b)(c)
|
0.08
|
||
Net realized and unrealized gain on investments(d)
|
0.21
|
||
Total from investment operations
|
0.29
|
||
LESS DISTRIBUTIONS FROM:
|
|||
From net investment income
|
(0.07)
|
||
Total distributions
|
(0.07)
|
||
Net asset value, end of period
|
$10.22
|
||
Total return(e)
|
2.88%
|
||
SUPPLEMENTAL DATA AND RATIOS:
|
|||
Net assets, end of period (in thousands)
|
$2,555
|
||
Ratio of expenses to average net assets(f)(g)
|
1.00%
|
||
Ratio of net investment income to average net assets(f)(g)
|
2.15%
|
||
Portfolio turnover rate(e)(h)
|
1%
|
||
(a)
|
The Fund commenced operations on February 21, 2024.
|
(b)
|
Net investment income per share has been calculated based on average shares outstanding during the period.
|
(c)
|
Recognition of net investment income by the Fund is affected by the timing of the declaration of dividends by the underlying exchange traded funds in which the Fund invests. The ratio does not include net investment income of the exchange traded funds in which the Fund invests.
|
(d)
|
Net realized and unrealized gain (loss) per share in the caption are balancing amounts necessary to reconcile the change in net asset value per share for the period and may not reconcile with the aggregate gains and losses in the Statement of Operations.
|
(e)
|
Not annualized for periods less than one year.
|
(f)
|
Annualized for periods less than one year.
|
(g)
|
These ratios exclude the impact of expenses of the underlying exchange traded funds as represented in the Schedule of Investments. Recognition of net investment income by the Fund is affected by the timing of the underlying exchange traded funds in which the Fund invests.
|
(h)
|
Portfolio turnover rate excludes in-kind transactions.
|
8
|
TABLE OF CONTENTS
9
|
TABLE OF CONTENTS
10
|
TABLE OF CONTENTS
Level 1 -
|
Unadjusted quoted prices in active markets for identical assets or liabilities.
|
Level 2 -
|
Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar securities, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
|
Level 3 -
|
Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available; representing the Fund's own assumptions about the assumptions a market participant would use in valuing the asset or liability and would be based on the best information available.
|
11
|
TABLE OF CONTENTS
Assets
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||
Common Stocks
|
$2,076,175
|
$ -
|
$ -
|
$2,076,175
|
||||||||
Exchange Traded Funds
|
305,529
|
-
|
-
|
305,529
|
||||||||
Real Estate Investment Trusts
|
114,302
|
-
|
-
|
114,302
|
||||||||
Closed End Funds
|
16,286
|
-
|
-
|
16,286
|
||||||||
Short Term Investments
|
40,393
|
-
|
-
|
40,393
|
||||||||
Total Assets
|
$2,552,685
|
$-
|
$-
|
$2,552,685
|
||||||||
12
|
TABLE OF CONTENTS
Tax cost of investments
|
$2,557,206
|
||
Gross unrealized appreciation
|
99,704
|
||
Gross unrealized depreciation
|
(104,225)
|
||
Net unrealized appreciation/(depreciation)
|
$(4,521)
|
||
Undistributed ordinary income
|
215
|
||
Undistributed long-term capital gain
|
-
|
||
Total distributable earnings
|
215
|
||
Other accumulated gain/(loss)
|
(49)
|
||
Total accumulated earnings/(losses)
|
$(4,355)
|
||
Period Ended
June 30, 2024
|
|||
Distributions paid from:
|
|||
Ordinary Income
|
$15,836
|
||
Long-Term Capital Gains
|
-
|
||
Return of Capital
|
-
|
||
Total Distributions paid
|
$15,836
|
||
13
|
TABLE OF CONTENTS
14
|
TABLE OF CONTENTS
15
|
TABLE OF CONTENTS
16
|
TABLE OF CONTENTS
17
|
(b) | Financial Highlights are included within the financial statements filed under Item 7(a) of this Form. |
Item 8. Changes in and Disagreements with Accountants for Open-End Investment Companies.
There were no changes in or disagreements with accountants during the period covered by this report.
Item 9. Proxy Disclosure for Open-End Investment Companies.
There were no matters submitted to a vote of shareholders during the period covered by this report.
Item 10. Remuneration Paid to Directors, Officers, and Others of Open-End Investment Companies.
See Item 7(a).
Item 11. Statement Regarding Basis for Approval of Investment Advisory Contract.
See Item 7(a).
Item 12. Disclosure of Proxy Voting Policies and Procedures for Closed-End Management Investment Companies.
Not applicable to open-end investment companies.
Item 13. Portfolio Managers of Closed-End Management Investment Companies.
Not applicable to open-end investment companies.
Item 14. Purchases of Equity Securities by Closed-End Management Investment Company and Affiliated Purchasers.
Not applicable to open-end investment companies.
Item 15. Submission of Matters to a Vote of Security Holders.
There have been no material changes to the procedures by which shareholders may recommend nominees to the registrant's board of trustees.
Item 16. Controls and Procedures.
(a) | The Registrant's Principal Executive Officer and Principal Financial Officer have reviewed the Registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the "Act")) as of a date within 90 days of the filing of this report, as required by Rule 30a-3(b) under the Act and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934. Based on their review, such officers have concluded that the disclosure controls and procedures are effective in ensuring that information required to be disclosed in this report is appropriately recorded, processed, summarized and reported and made known to them by others within the Registrant and by the Registrant's service provider. |
(b) | There were no changes in the Registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the Act) that occurred during the period covered by this report that have materially affected, or are reasonably likely to materially affect, the Registrant's internal control over financial reporting. |
Item 17. Disclosure of Securities Lending Activities for Closed-End Management Investment Companies
Not applicable to open-end investment companies.
Item 18. Recovery of Erroneously Awarded Compensation.
Not applicable
Item 19. Exhibits.
(a) | (1) Code of Ethics that is subject of the disclosure required by Item 2. Filed herewith. |
(2) Not applicable.
(3) A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2(a) under the Investment Company Act of 1940 (17 CFR 270.30a-2(a)). Filed herewith.
(4) Not applicable.
(5) Not applicable.
(b) | Certification required by Rule 30a-2(b) under the Investment Company Act of 1940 (17 CFR 270.30a-2(b)). Filed herewith. |
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.
Registrant: | Mason Capital Fund Trust |
By (Signature and Title)* | /s/ Elliot Bruce | ||
Elliot Bruce, Principal Executive Officer |
Date | September 6, 2024 |
Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.
By (Signature and Title)* | /s/ Elliot Bruce | ||
Elliot Bruce, Principal Executive Officer |
Date | September 6, 2024 |
By (Signature and Title)* | /s/ Gregg Picillo | ||
Gregg Picillo, Principal Financial Officer |
Date | September 6, 2024 |