NAV & Portfolio as of February 26, 2015


Security Number of Shares Closing Price per Share($) Amount ($) Weighting (%)
AltaGas Ltd. 88,396 44.18 3,905,335 6.95
BCE Inc. 70,414 55.05 3,876,291 6.90
Canadian Utilities Limited (A) 11,611 41.20 478,373 0.85
Canadian Utilities Limited (B) 70,009 41.25 2,887,871 5.14
Capital Power 149,501 25.03 3,742,010 6.66
Emera Inc. 90,312 41.02 3,704,598 6.59
Enbridge Inc. 70,435 57.61 4,057,760 7.22
Fortis Inc. 95,094 38.91 3,700,108 6.58
Gibson Energy Inc. 125,884 26.25 3,304,455 5.88
Inter Pipeline Fund 139,525 33.17 4,628,044 8.23
Keyera Corp. 54,445 82.63 4,498,790 8.00
Manitoba 102,848 24.76 2,546,516 4.53
Northland Power Inc. 173,086 17.22 2,980,541 5.30
Pembina Pipelines Corporation 102,318 38.89 3,979,147 7.08
Rogers Communications Inc. Cl. B 67,100 44.67 2,997,357 5.33
TELUS Corporation 92,042 44.52 4,097,710 7.29
TransAlta Corporation 222,117 11.67 2,592,105 4.61
TransCanada Corporation 68,094 54.17 3,688,652 6.56
Veresen Inc. 242,149 15.35 3,716,987 6.61
Other Net Assets     -9,178,782 -16.33
Total     56,203,870 100.00

Units Outstanding 2,072,277
NAV per unit $27.12