Portfolio
Providing investors access to institutional infrastructure.
Composition
Portfolio Composition
(As of October 31, 2024)
Seeking diversification across asset type, geography and infrastructure type.Asset Type1
- Public Infrastructure Securities 54.13%
- Private Infrastructure2 34.75%
- Cash & Cash Equivalents 11.12%
Geography3
- United States 93.99%
- Canada 3.50%
- Spain 0.69%
- Germany 0.65%
- United Kingdom 0.56%
- Israel 0.19%
- Italy 0.16%
- Mexico 0.15%
- Brazil 0.11%
Infrastructure Type3
- Independent Power and Renewable 26.02%
- Energy Infrastructure 24.22%
- Electric Utilities 18.85%
- Digital Infrastructure 14.91%
- Multi-Utilities 6.40%
- Transportation Infrastructure 5.15%
- Water Utilities 1.57%
- Other 1.04%
- Financials 0.94%
- Machinery 0.90%
Portfolio Holdings and Diversification
(As of October 31, 2024)
TOP UNDERLYING PRIVATE AND PUBLIC HOLDINGS (% of Total Net Assets)*
| Top Private Infrastructure Holdings | % of Total Net Assets3 | |
|---|---|---|
| 1 | Blackstone Infrastructure Partners/Invenergy | 14.98% |
| 2 | Peppertree Capital - Fund VIII QP LP | 6.17% |
| 3 | Aero Capital Solutions Fund IV | 5.67% |
| 4 | Rockland Power Partners IV | 2.05% |
| 5 | Irradiant Orchid Investors LP / Opus | 1.93% |
| 6 | IPCC Fund L.P. | 1.65% |
| 7 | DigitalBridge Credit (Onshore) LP | 1.02% |
| 8 | CoreWeave Credit Agreement | 0.72% |
| 9 | Peppertree Capital Fund X QP LP | 0.38% |
| 10 | DigitalBridge Credit II (Onshore) LP | 0.18% |
| Top 10 Public Infrastructure | % of Total Net Assets3 | |
|---|---|---|
| 1 | Vistra Energy Corp. | 4.24% |
| 2 | NextEra Energy Inc. | 3.44% |
| 3 | Williams Cos Inc./The | 3.30% |
| 4 | Constellation Energy Corp. | 3.29% |
| 5 | Southern Co./The | 3.28% |
| 6 | Cheniere Energy Inc. | 3.11% |
| 7 | American Tower Corp. | 2.55% |
| 8 | EQT Corp. | 2.52% |
| 9 | Sempra Energy | 1.84% |
| 10 | Schlumberger Ltd. | 1.59% |
*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.