Portfolio
Providing investors access to institutional infrastructure.
Composition
Portfolio Composition
(As of December 31, 2025)
Seeking diversification across asset type, geography and infrastructure type.Asset Type1
- Public Infrastructure Securities 56.00%
- Private Infrastructure2 35.41%
- Cash & Cash Equivalents 8.59%
Geography3
- United States 76.97%
- Developed Countries excluding US 23.03%
Infrastructure Type3
- Utilities 31.44%
- Energy Infrastructure 26.70%
- Digital Infrastructure 21.95%
- Transportation 14.27%
- Environmental Services 5.64%
Portfolio Holdings and Diversification
(As of December 31, 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 | 6.52% | 1 | Constellation Energy Corp. | 3.56% | |
| 2 | Aero Capital Solutions Fund IV LP | 5.57% | 2 | Schlumberger N.V. | 3.30% | |
| 3 | DigitalBridge AI Infrastructure B LP | 5.06% | 3 | Vistra Corp. | 3.18% | |
| 4 | Tomcat US / AFCO | 2.83% | 4 | NextEra Energy Inc. | 3.09% | |
| 5 | Peppertree Capital - Fund VIII QP LP | 2.66% | 5 | Williams Companies Inc. | 3.06% | |
| 6 | DigitalBridge Credit II (Onshore) LP | 2.09% | 6 | Securities less than 3.00% | 38.91% | |
| 7 | DB Sunshine Holdings / Switch | 2.02% | ||||
| 8 | Ardian Infrastructure Fund VI | 1.90% | ||||
| 9 | Rockland Power Partners IV LP | 1.87% | ||||
| 10 | Manulife Infrastructure Fund III LP | 0.86% |
| Top Private Infrastructure Holdings | % of Total Net Assets3 | |
|---|---|---|
| 1 | Blackstone Infrastructure Partners / Invenergy | 6.52% |
| 2 | Aero Capital Solutions Fund IV LP | 5.57% |
| 3 | DigitalBridge AI Infrastructure B LP | 5.06% |
| 4 | Tomcat US / AFCO | 2.83% |
| 5 | Peppertree Capital - Fund VIII QP LP | 2.66% |
| 6 | DigitalBridge Credit II (Onshore) LP | 2.09% |
| 7 | DB Sunshine Holdings / Switch | 2.02% |
| 8 | Ardian Infrastructure Fund VI | 1.90% |
| 9 | Rockland Power Partners IV LP | 1.87% |
| 10 | Manulife Infrastructure Fund III LP | 0.86% |
| Top 10 Public Infrastructure | % of Total Net Assets3 | |
|---|---|---|
| 1 | Constellation Energy Corp. | 3.56% |
| 2 | Schlumberger N.V. | 3.30% |
| 3 | Vistra Corp. | 3.18% |
| 4 | NextEra Energy Inc. | 3.09% |
| 5 | Williams Companies Inc. | 3.06% |
| 6 | Securities less than 3.00% | 38.91% |
*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.