Portfolio
Providing investors access to institutional infrastructure.
Composition
Portfolio Composition
(As of June 30, 2025)
Seeking diversification across asset type, geography and infrastructure type.Asset Type1
- Public Infrastructure Securities 56.18%
- Private Infrastructure2 37.73%
- Cash & Cash Equivalents 6.09%
Geography3
- United States 91.60%
- Developed Countries excluding US 8.40%
Infrastructure Type3
- Utilities 31.36%
- Energy Infrastructure 28.69%
- Digital Infrastructure 22.41%
- Transportation 15.33%
- Environmental Services 1.23%
- Other 0.97%
Portfolio Holdings and Diversification
(As of June 30, 2025)
TOP PRIVATE AND PUBLIC HOLDINGS (% of Total Net Assets)*
| Top Private Infrastructure Holdings | % of Total Net Assets3 | Top 10 Public Infrastructure | % of Total Net Assets3 | |||
|---|---|---|---|---|---|---|
| 1 | Blackstone Infrastructure Partners/Invenergy | 8.30% | 1 | Vistra Energy Corp. | 5.53% | |
| 2 | Aero Capital Solutions Fund IV | 7.92% | 2 | Constellation Energy | 4.40% | |
| 3 | DigitalBridge AI Infrastructure B LP | 5.99% | 3 | NextEra Energy Inc | 3.34% | |
| 4 | Peppertree Capital - Fund VIII QP LP | 3.55% | 4 | NRG Energy Inc. | 3.12% | |
| 5 | DB Sunshine Holdings I LP / Switch | 2.44% | 5 | EQT Corp. | 2.90% | |
| 6 | DigitalBridge Credit (Onshore) LP | 2.09% | 6 | Cheniere Energy Inc. | 2.89% | |
| 7 | Manulife Infrastructure Fund III LP | 1.54% | 7 | Williams Cos Inc. | 2.67% | |
| 8 | Irradiant Orchid Investors LP | 0.99% | 8 | Digital Realty Trust Inc. | 2.47% | |
| 9 | IPCC Fund LP | 0.80% | 9 | Southern Co. | 2.32% | |
| 10 | CoreWeave Credit Agreement | 0.72% | 10 | Candian Pacific Kansas City | 2.14% |
| Top Private Infrastructure Holdings | % of Total Net Assets3 | |
|---|---|---|
| 1 | Blackstone Infrastructure Partners/Invenergy | 8.30% |
| 2 | Aero Capital Solutions Fund IV | 7.92% |
| 3 | DigitalBridge AI Infrastructure B LP | 5.99% |
| 4 | Peppertree Capital - Fund VIII QP LP | 3.55% |
| 5 | DB Sunshine Holdings I LP / Switch | 2.44% |
| 6 | DigitalBridge Credit (Onshore) LP | 2.09% |
| 7 | Manulife Infrastructure Fund III LP | 1.54% |
| 8 | Irradiant Orchid Investors LP | 0.99% |
| 9 | IPCC Fund LP | 0.80% |
| 10 | CoreWeave Credit Agreement | 0.72% |
| Top 10 Public Infrastructure | % of Total Net Assets3 | |
|---|---|---|
| 1 | Vistra Energy Corp. | 5.53% |
| 2 | Constellation Energy | 4.40% |
| 3 | NextEra Energy Inc | 3.34% |
| 4 | NRG Energy Inc. | 3.12% |
| 5 | EQT Corp. | 2.90% |
| 6 | Cheniere Energy Inc. | 2.89% |
| 7 | Williams Cos Inc. | 2.67% |
| 8 | Digital Realty Trust Inc. | 2.47% |
| 9 | Southern Co. | 2.32% |
| 10 | Candian Pacific Kansas City | 2.14% |
*The holdings are presented to illustrate the diversity of areas in which the Fund may invest and may not be representative of the Fund’s future investments. Portfolio holdings are subject to change and should not be considered investment advice.
1 As a percent of total assets.
2 When the Fund invests in a private fund, it makes a binding commitment to invest a specified amount of capital in the applicable private fund. The capital commitment may be drawn by the general partner of the private fund either all at once, or over time through a series of capital calls at the discretion of the general partner.
3 As a percent of invested assets. Excludes cash and cash equivalents.
4 Metrics express the Fund’s portfolio allocated to private funds in which the underlying holdings of such private funds generally consist of infrastructure related interests that are not publicly traded as of the most recent available data. Holdings are subject to change without notice.
1 As a percent of invested assets. Allocations are subject to change.