Exhibit 99.1

ICON Income Fund Ten Liquidating Trust

	Portfolio Overview


	Third Quarter 2014

	Table of Contents


	Introduction to Portfolio Overview	1

	Portfolio Overview	1

	Transactions with Related Parties	2

	Financial Statements	3

	Forward Looking Statements	7

	Additional Information	7

ICON Income Fund Ten Liquidating Trust

As of January 31, 2015

Introduction to Portfolio Overview

We are pleased to present ICON Income Fund Ten Liquidating Trust’s (the “Trust”) Portfolio Overview for the quarter ended September 30, 2014. References to “we,” “us,” and “our” are references to the Trust or the Fund (as defined below), as applicable, and references to the “Managing Trustee” and the “Manager” are references to the managing trustee of the Trust and the manager of the Fund, ICON Capital, LLC.

As of December 31, 2013, all assets and liabilities of ICON Income Fund Ten, LLC (the “Fund”) were transferred to the Trust.

The Fund raised approximately $150,000,000 commencing with its initial offering on June 2, 2003 through the closing of the offering on April 5, 2005. In May 2010, we entered our liquidation period, during which time we began the gradual, orderly termination of our operations and affairs, and the liquidation or disposition of our equipment, leases and financing transactions. On January 26, 2015, the Trust sold its last remaining assets, two container vessels on bareboat charter to Zim Israel Navigation Co. Ltd., for an aggregate purchase price of $16,087,694 and as a result, the bareboat charters with ZIM were terminated.

On March 1, 2015, the Trust will distribute these proceeds as well as cash on hand to its beneficial owners. This distribution completes the final distribution of the remaining assets of the Trust, subject to the creation of a small reserve for the payment of expenses or obligations that may arise. Accordingly, following the distribution, the Trust will be terminated and its reporting obligations with the U.S. Securities and Exchange Commission (Forms 10-K, 10-Q and 8-K) will cease. Once it has been determined that all expenses and obligations of the Trust have been satisfied, any remaining reserves will be distributed to the beneficial owners of the Trust.

Portfolio Overview

As of September 30, 2014, our portfolio consisted of the following investment:

ZIM Israel Navigation Co. Ltd.
Structure:	Lease	Collateral:	Two container vessels.
Expiration Dates:	3/31/2016
	3/31/2017

ICON Income Fund Ten Liquidating Trust

Transactions with Related Parties

Our Managing Trustee performs certain services relating to the management of our equipment leasing and other financing activities. Such services include, but are not limited to, the collection of lease payments from the lessees of the equipment or loan payments from borrowers, re-leasing services in connection with equipment which is off-lease, inspections of the equipment, liaising with and general supervision of lessees and borrowers to ensure that the equipment is being properly operated and maintained, monitoring performance by the lessees and borrowers of their obligations under the leases and loans and the payment of operating expenses. Administrative expense reimbursements are costs incurred by our Managing Trustee or its affiliates that are necessary to our operations.

During the three and nine months ended September 30, 2014, we incurred administrative expense reimbursements of $71,965 to our Managing Trustee. Our Managing Trustee has waived the following fees in relation to services provided during the three and nine months ended September 30, 2014 and 2013:

			Three Months Ended				Nine Months Ended
			September 30,				September 30,
Entity	Capacity	Description		2014		2013		2014		2013
ICON Capital, LLC	Managing Trustee	Management fees	$	286,709	$	229,513	$	850,777	$	682,797
ICON Capital, LLC	Managing Trustee	Administrative expense reimbursements		-		56,428		125,764		186,519
			$	286,709	$	285,941	$	976,541	$	869,316

Our Managing Trustee also has a 1% interest in our profits, losses, distributions and liquidation proceeds. We paid distributions to our Managing Trustee of $47,980 and $174,244 for the three and nine months ended September 30, 2014, respectively. We paid distributions to our Managing Trustee of $32,827 and $83,585 for the three and nine months ended September 30, 2013, respectively. Additionally, our Managing Trustee’s interest in the net income attributable to us was $5,152 and $23,151 for the three and nine months ended September 30, 2014, respectively. Our Managing Trustee’s interest in the net income attributable to us was $12,187 and $31,513 for the three and nine months ended September 30, 2013, respectively.

Your participation in the Fund is greatly appreciated.

We are committed to protecting the privacy of our investors in compliance with all applicable laws. Please be advised that, unless required by a regulatory authority such as FINRA or ordered by a court of competent jurisdiction, we will not share any of your personally identifiable information with any third party.

ICON Income Fund Ten Liquidating Trust

(A Delaware Statutory Trust)

Financial Statements

Consolidated Balance Sheets

				September 30,		December 31,
				2014		2013
				(unaudited)
Assets
Current assets:
	Cash and cash equivalents			$	6,070,789	$	6,966,884
	Current portion of net investment in finance leases				3,544,330		15,180,015
	Due from Managing Trustee				69,357		-
			Total current assets		9,684,476		22,146,899
Non-current assets:
	Net investment in finance leases, less current portion				11,905,052		14,546,800
	Other non-current assets				2,136		2,136
			Total non-current assets		11,907,188		14,548,936
Total assets				$	21,591,664	$	36,695,835

Liabilities and Equity
Current liabilities:
	Accrued expenses			$	195,775	$	211,145
	Indemnification liability				381,582		379,806
			Total liabilities		577,357		590,951

Commitments and contingencies

Equity:
	Beneficial owners’ equity:
		Additional beneficial owners			22,103,470		37,061,583
		Managing Trustee			(1,089,163)		(938,070)
			Total beneficial owners' equity		21,014,307		36,123,513
	Noncontrolling interests				-		(18,629)
			Total equity		21,014,307		36,104,884
Total liabilities and equity				$	21,591,664	$	36,695,835

ICON Income Fund Ten Liquidating Trust

(A Delaware Statutory Trust)

Financial Statements

Consolidated Statements of Comprehensive Income (unaudited)

			Three Months Ended September 30,				Nine Months Ended September 30,
			2014		2013		2014		2013
Revenue and other income:
	Finance income		$	711,600	$	1,445,515	$	2,738,112	$	4,584,971
	(Loss) income from investment in joint ventures			-		(150,702)		1,379		(755,478)
	Interest and other income (loss)			10,871		(19,902)		(1,723)		337
		Total revenue and other income		722,471		1,274,911		2,737,768		3,829,830
Expenses:
	Administrative expense reimbursements			71,965		-		71,965		-
	General and administrative			135,293		56,203		332,025		715,818
		Total expenses		207,258		56,203		403,990		715,818
Net income				515,213		1,218,708		2,333,778		3,114,012
	Less: net income (loss) attributable to noncontrolling interests			-		-		18,629		(37,283)
Net income attributable to Fund Ten Liquidating Trust				515,213		1,218,708		2,315,149		3,151,295

Other comprehensive income:
	Change in fair value of derivative financial instruments			-		13,218		-		52,053
		Total other comprehensive income		-		13,218		-		52,053
Comprehensive income				515,213		1,231,926		2,333,778		3,166,065
	Less: comprehensive income (loss) attributable to
		noncontrolling interests		-		-		18,629		(37,283)
Comprehensive income attributable to Fund Ten Liquidating Trust			$	515,213	$	1,231,926	$	2,315,149	$	3,203,348

Net income attributable to Fund Ten Liquidating Trust allocable to:
	Additional beneficial owners		$	510,061	$	1,206,521	$	2,291,998	$	3,119,782
	Managing Trustee			5,152		12,187		23,151		31,513
			$	515,213	$	1,218,708	$	2,315,149	$	3,151,295

Weighted average number of additional beneficial owners'
	interests outstanding			148,211		148,211		148,211		148,211
Net income attributable to Fund Ten Liquidating Trust per weighted
	average additional beneficial owners' interest outstanding		$	3.44	$	8.14	$	15.46	$	21.05

ICON Income Fund Ten Liquidating Trust

(A Delaware Statutory Trust)

Financial Statements

Consolidated Statements of Changes in Equity

		Beneficial Owners' Equity
		Additional Beneficial Owners' Interests	Additional Beneficial Owners		Managing Trustee		Total Beneficial Owners' Equity		Noncontrolling Interests		Total Equity
Balance, December 31, 2013		148,211	$	37,061,583	$	(938,070)	$	36,123,513	$	(18,629)	$	36,104,884
	Net income	-		999,635		10,097		1,009,732		37,415		1,047,147
	Distributions	-		(7,500,094)		(75,759)		(7,575,853)		-		(7,575,853)
Balance, March 31, 2014 (unaudited)		148,211		30,561,124		(1,003,732)		29,557,392		18,786		29,576,178
	Net income (loss)	-		782,302		7,902		790,204		(18,786)		771,418
	Distributions	-		(5,000,002)		(50,505)		(5,050,507)		-		(5,050,507)
Balance, June 30, 2014 (unaudited)		148,211		26,343,424		(1,046,335)		25,297,089		-		25,297,089
	Net income	-		510,061		5,152		515,213		-		515,213
	Distributions	-		(4,750,015)		(47,980)		(4,797,995)		-		(4,797,995)
Balance, September 30, 2014
	(unaudited)	148,211	$	22,103,470	$	(1,089,163)	$	21,014,307	$	-	$	21,014,307

ICON Income Fund Ten Liquidating Trust

(A Delaware Statutory Trust)

Financial Statements

Consolidated Statements of Cash Flows (unaudited)

			Nine Months Ended September 30,
				2014		2013
Cash flows from operating activities:
	Net income		$	2,333,778	$	3,114,012
	Adjustments to reconcile net income to net cash provided by operating activities:
		Finance income		(2,738,112)		(4,584,971)
		Loss from investment in joint ventures		-		755,478
		Interest and other loss (income)		1,776		(526)
	Changes in operating assets and liabilities:
		Collection of finance leases		17,015,545		10,450,439
		Other assets, net		-		88,623
		Due from Managing Trustee		(69,357)		-
		Accrued expenses		(15,370)		190,485
		Other current liabilities		-		(13,481)
Net cash provided by operating activities				16,528,260		10,000,059
Cash flows from investing activities:
		Distribution from joint venture		-		7,139
Net cash provided by investing activities				-		7,139
Cash flows from financing activities:
		Distributions to noncontrolling interests		-		(8,817)
		Distributions to beneficial owners		(17,424,355)		(8,358,705)
Net cash used in financing activities				(17,424,355)		(8,367,522)
Net (decrease) increase in cash and cash equivalents				(896,095)		1,639,676
Cash and cash equivalents, beginning of period				6,966,884		1,805,049
Cash and cash equivalents, end of period			$	6,070,789	$	3,444,725

ICON Income Fund Ten Liquidating Trust

Forward Looking Statements

Certain statements within this document may constitute forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 (“PSLRA”). These statements are being made pursuant to the PSLRA, with the intention of obtaining the benefits of the “safe harbor” provisions of the PSLRA, and, other than as required by law, we assume no obligation to update or supplement such statements. Forward-looking statements are those that do not relate solely to historical fact. They include, but are not limited to, any statement that may predict, forecast, indicate or imply future results, performance, achievements or events. You can identify these statements by the use of words such as “may,” “will,” “could,” “anticipate,” “believe,” “estimate,” “expect,” “continue,” “further,” “plan,” “seek,” “intend,” “predict” or “project” and variations of these words or comparable words or phrases of similar meaning. These forward-looking statements reflect our current beliefs and expectations with respect to future events and are based on assumptions and are subject to risks and uncertainties and other factors outside our control that may cause actual results to differ materially from those projected. We undertake no obligation to update publicly or review any forward-looking statement, whether as a result of new information, future developments or otherwise.

Additional Information

A detailed financial report on SEC Form 10-Q or 10-K (whichever is applicable) is available to you. It is typically filed either 45 or 90 days after the end of a quarter or year, respectively. Usually this means a filing will occur on or around March 31, May 15, August 14, and November 14 of each year. It contains financial statements and detailed sources and uses of cash plus explanatory notes. You are always entitled to these reports. Please access them by:

·	Visiting www.iconinvestments.com, or

·	Visiting www.sec.gov, or

·	Writing us at: Angie Seenauth c/o ICON Investments, 3 Park Avenue, 36th Floor, New York, NY 10016

We do not distribute these reports to you directly in order to keep our expenses down as the cost of mailing this report to all investors is significant. Nevertheless, the reports are immediately available upon your request.

ICON INCOME FUND TEN LLC 8-K