Portfolio
Providing investors access to institutional infrastructure.
Composition
Portfolio Composition
(As of September 30, 2025)
Seeking diversification across asset type, geography and infrastructure type.Asset Type1
- Public Infrastructure Securities 55.15%
- Private Infrastructure2 34.97%
- Cash & Cash Equivalents 9.88%
Geography3
- United States 87.03%
- Developed Countries excluding US 12.97%
Infrastructure Type3
- Utilities 30.61%
- Energy Infrastructure 28.33%
- Digital Infrastructure 25.27%
- Transportation 11.58%
- Environmental Services 4.21%
Portfolio Holdings and Diversification
(As of September 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 | 7.04% | 1 | Vistra Energy Corp. | 4.27% | |
| 2 | Aero Capital Solutions Fund IV | 5.78% | 2 | Constellation Energy | 3.66% | |
| 3 | DigitalBridge AI Infrastructure B LP | 5.51% | 3 | NextEra Energy Inc | 3.21% | |
| 4 | Peppertree Capital - Fund VIII QP LP | 2.95% | 4 | Digital Reality Trust Inc. | 2.62% | |
| 5 | DB Sunshine Holdings I LP / Switch | 2.24% | 5 | NRG Energy Inc. | 2.57% | |
| 6 | DigitalBridge Credit (Onshore) LP | 2.21% | 6 | Williams Cos Inc. | 2.54% | |
| 7 | Ardian Infrastrcture Fund VI | 1.91% | 7 | EQT Corp. | 2.50% | |
| 8 | Rockland Power Partners IV | 1.83% | 8 | Cheniere Energy Inc. | 2.27% | |
| 9 | Rickland Power Partners V Feeder LP | 0.94% | 9 | SBA Communications Corp. | 2.20% | |
| 10 | Manulife Infrastructure Fund III LP | 0.94% | 10 | American Tower Corp | 2.01% |
| Top Private Infrastructure Holdings | % of Total Net Assets3 | |
|---|---|---|
| 1 | Blackstone Infrastructure Partners/Invenergy | 7.04% |
| 2 | Aero Capital Solutions Fund IV | 5.78% |
| 3 | DigitalBridge AI Infrastructure B LP | 5.51% |
| 4 | Peppertree Capital - Fund VIII QP LP | 2.95% |
| 5 | DB Sunshine Holdings I LP / Switch | 2.24% |
| 6 | DigitalBridge Credit (Onshore) LP | 2.21% |
| 7 | Ardian Infrastrcture Fund VI | 1.91% |
| 8 | Rockland Power Partners IV | 1.83% |
| 9 | Rickland Power Partners V Feeder LP | 0.94% |
| 10 | Manulife Infrastructure Fund III LP | 0.94% |
| Top 10 Public Infrastructure | % of Total Net Assets3 | |
|---|---|---|
| 1 | Vistra Energy Corp. | 4.27% |
| 2 | Constellation Energy | 3.66% |
| 3 | NextEra Energy Inc | 3.21% |
| 4 | Digital Reality Trust Inc. | 2.62% |
| 5 | NRG Energy Inc. | 2.57% |
| 6 | Williams Cos Inc. | 2.54% |
| 7 | EQT Corp. | 2.50% |
| 8 | Cheniere Energy Inc. | 2.27% |
| 9 | SBA Communications Corp. | 2.20% |
| 10 | American Tower Corp | 2.01% |
*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.