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 December 31, 2023)
Seeking diversification across asset type, geography and infrastructure type.Asset Type
- Public Infrastructure Securities 70.51%
- Private Infrastructure 12.91%
- Cash & Cash Equivalents 14.58%
Geography2
- United States 82.93%
- Canada 7.76%
- United Kingdom 4.62%
- Germany 1.13%
- Spain 0.91%
- Mexico 0.81%
- Israel 0.67%
- Italy 0.68%
- Brazil 0.50%
Infrastructure Type2
- Energy Infrastructure 24.90%
- Electric Utilities 24.19%
- Independent Power & Renewables 12.31%
- Digital Infrastructure 12.13%
- Multi-Utilities 7.26%
- Ground Transportation 5.85%
- Water Utilities 2.97%
- Commercial Services & Supply 2.84%
- Machinery 2.76%
- Others 4.79%
Portfolio Holdings and Diversification
(As of December 31, 2023)
Top Holdings*
| Investment | Infrastructure Type | Asset Type | % of Total Invested Assets3 | |
|---|---|---|---|---|
| 1 | Rockland Power Partners IV | Private Infrastructure Funds | Energy - Equity | 7.24% |
| 2 | DigitalBridge Credit (Onshore) LP | Private Infrastructure Funds | Digital - Debt | 5.10% |
| 3 | NextEra Energy Inc. | Public Infrastructure Securities | Utilities | 4.79% |
| 4 | Vistra Energy Corp. | Public Infrastructure Securities | Utilities | 3.43% |
| 5 | Constellation Energy Corp. | Public Infrastructure Securities | Utilities | 3.22% |
| 6 | Union Pacific Corp. | Public Infrastructure Securities | Industrials | 2.76% |
| 7 | IPCC Fund L.P. | Private Infrastructure Funds | Energy - Debt | 2.57% |
| 8 | Schlumberger Ltd. | Public Infrastructure Securities | Energy | 2.57% |
| 9 | NRG Energy Inc. | Public Infrastructure Securities | Utilities | 2.54% |
| 10 | SBA Communications Corp. | Public Infrastructure Securities | Digital | 2.41% |
*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.