Portfolio
Providing investors access to institutional infrastructure.
Composition
The Fund pursues its investment objectives by strategically investing in private institutional infrastructure investment funds as well as publicly traded infrastructure securities.1
Portfolio Composition
(As of March 31, 2024)
Seeking diversification across asset type, geography and infrastructure type.Asset Type
- Public Infrastructure Securities 59.13%
- Private Infrastructure 26.61%
- Cash & Cash Equivalents 14.26%
Geography2
- United States 87.58%
- Canada 5.70%
- United Kingdom 2.25%
- Spain 1.70%
- Germany 1.30%
- Mexico 0.58%
- Italy 0.36%
- Brazil 0.28%
- Israel 0.25%
Infrastructure Type2
- Electric Utilities 31.72%
- Energy Infrastructure 21.18%
- Independent Power & Renewables 13.54%
- Multi-Utilities 10.56%
- Ground Transportation 5.03%
- Digital Infrastructure 4.31%
- Water Utilities 4.08%
- Machinery 2.77%
- Information Technology 2.48%
- Others 4.32%
Portfolio Holdings and Diversification
(As of March 31, 2024)
Top Holdings*
| Investment | Infrastructure Type | Asset Type | % of Total Invested Assets3 | |
|---|---|---|---|---|
| 1 | Peppertree Fund VIII | Private Infrastructure Funds | Digital - Equity | 15.75% |
| 2 | Rockland Power Partners IV | Private Infrastructure Funds | Energy - Equity | 4.69% |
| 3 | Vistra Energy Corp. | Public Infrastructure Securities | Utilities | 4.15% |
| 4 | NextEra Energy Inc. | Public Infrastructure Securities | Utilities | 3.54% |
| 5 | DigitalBridge Credit (Onshore) L.P. | Private Infrastructure Funds | Digital - Debt | 3.16% |
| 6 | Constellation Energy Corp. | Public Infrastructure Securities | Industrials | 3.07% |
| 7 | IPCC Fund L.P. | Private Infrastructure Funds | Energy - Debt | 3.01% |
| 8 | Southern Co. | Public Infrastructure Securities | Energy | 2.77% |
| 9 | Enbridge Inc. | Public Infrastructure Securities | Utilities | 2.23% |
| 10 | NRG Energy Inc. | Public Infrastructure Securities | Utilities | 2.19% |
*The top holdings are presented to illustrate examples of the securities that the Fund has bought and the diversity of areas in which the Fund may invest and may not be representative of the Fund's current or future investments. Portfolio holdings are subject to change and should not be considered investment advice.
1 Under normal market conditions and once the Fund reaches scale, the Adviser and Sub-Adviser intend to pursue the investments described.
2 As a percent of total assets.
3 As a percent of invested assets. Excludes cash and cash equivalents.
1 As a percent of invested assets. Allocations are subject to change.