CIK 1499094
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q1. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Utilities | 70.67% | 17 |
| Oil, Gas & Consumable Fuels | 11.51% | 3 |
| Road & Rail | 10.24% | 3 |
| Equity Real Estate Investment Trusts (REITs) | 3.87% | 1 |
| Construction & Engineering | 3.72% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | EMA | EMERA INC | Utilities | 9.29% |
| 2 | ETR | ENTERGY CORP /DE/ | Utilities | 8.49% |
| 3 | NEE | NEXTERA ENERGY INC | Utilities | 7.94% |
| 4 | TRP | TC ENERGY CORP | Utilities | 6.96% |
| 5 | CEG | Constellation Energy Corp | Utilities | 5.71% |
| 6 | OGE | OGE ENERGY CORP. | Utilities | 5.48% |
| 7 | WEC | WEC ENERGY GROUP, INC. | Utilities | 5.40% |
| 8 | PBA | PEMBINA PIPELINE CORP | Energy | 4.48% |
| 9 | UNP | UNION PACIFIC CORP | Industrials | 4.25% |
| 10 | CNI | CANADIAN NATIONAL RAILWAY CO | Industrials | 4.04% |
25/25 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 67.1%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 59.6% of book weight (16/25 names) · unclassified 40.4%: EMA, TRP, PBA, CNI, FER, ENB, SOBO, BEPC, CWEN. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | EMAEMERA INC | 6,872,575 | $424M | 9.3% | NEW |
| 2 | ETRENTERGY CORP NEW | 4,660,531 | $387M | 8.5% | HOLD |
| 3 | NEENEXTERA ENERGY INC | 5,218,965 | $362M | 7.9% | ADD 17% |
| 4 | TRPTC ENERGY CORP | 6,506,102 | $317M | 7.0% | ADD 6% |
| 5 | CEGCONSTELLATION ENERGY CORP | 806,516 | $260M | 5.7% | ADD 4% |
| 6 | OGEOGE ENERGY CORP | 5,635,273 | $250M | 5.5% | HOLD |
| 7 | WECWEC ENERGY GROUP INC | 2,364,236 | $246M | 5.4% | HOLD |
| 8 | PBAPEMBINA PIPELINE CORP | 5,448,687 | $204M | 4.5% | HOLD |
| 9 | UNPUNION PAC CORP | 843,041 | $194M | 4.3% | TRIM −17% |
| 10 | CNICANADIAN NATL RY CO | 1,769,970 | $184M | 4.0% | ADD 118% |
| 11 | OKEONEOK INC NEW | 2,236,877 | $183M | 4.0% | HOLD |
| 12 | CCICROWN CASTLE INC | 1,716,795 | $176M | 3.9% | ADD 3% |
| 13 | PEGPUBLIC SVC ENTERPRISE GROUP | 2,069,913 | $174M | 3.8% | ADD 19% |
| 14 | FERFERROVIAL SE | 3,164,782 | $170M | 3.7% | ADD 25% |
| 15 | ENBENBRIDGE INC | 3,615,519 | $164M | 3.6% | ADD 2% |
| 16 | SOBOSOUTH BOW CORP | 6,048,760 | $157M | 3.4% | ADD 42% |
| 17 | WMBWILLIAMS COS INC | 2,418,494 | $152M | 3.3% | HOLD |
| 18 | BEPCBROOKFIELD RENEWABLE CORP | 4,310,060 | $141M | 3.1% | HOLD |
| 19 | DTEDTE ENERGY CO | 676,040 | $90M | 2.0% | HOLD |
| 20 | CSXCSX CORP | 2,725,112 | $89M | 1.9% | HOLD |
| 21 | LNGCheniere Energy, Inc | 347,562 | $85M | 1.9% | HOLD |
| 22 | CWENCLEARWAY ENERGY INC | 2,500,083 | $80M | 1.8% | NEW |
| 23 | CNPCENTERPOINT ENERGY INC | 1,930,459 | $71M | 1.6% | HOLD |
| 24 | EXCEXELON CORP | 11,277 | $489,647 | 0.0% | ADD 11% |
| 25 | AWKAMERICAN WTR WKS CO INC NEW | 2,654 | $369,198 | 0.0% | TRIM −10% |
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