NAV & Portfolio as of March 26, 2015


Security Number of Shares Closing Price per Share($) Amount ($) Weighting (%)
AltaGas Ltd. 88,396 42.74 3,778,045 6.73
BCE Inc. 70,414 53.34 3,755,883 6.69
Canadian Utilities Limited (A) 11,611 39.81 462,234 0.82
Canadian Utilities Limited (B) 70,009 40.00 2,800,360 4.99
Capital Power 149,501 24.86 3,716,595 6.62
Emera Inc. 90,312 40.33 3,642,283 6.49
Enbridge Inc. 70,435 61.06 4,300,761 7.67
Fortis Inc. 95,094 39.17 3,724,832 6.64
Gibson Energy Inc. 125,884 27.08 3,408,939 6.08
Inter Pipeline Fund 139,525 32.23 4,496,891 8.02
Keyera Corp. 54,445 83.30 4,535,268 8.08
Manitoba 102,848 24.17 2,485,836 4.43
Northland Power Inc. 173,086 17.25 2,985,734 5.32
Pembina Pipelines Corporation 102,318 40.39 4,132,624 7.37
Rogers Communications Inc. Cl. B 67,100 43.18 2,897,378 5.16
TELUS Corporation 92,042 41.94 3,860,241 6.88
TransAlta Corporation 222,117 11.65 2,587,663 4.61
TransCanada Corporation 68,094 55.08 3,750,618 6.69
Veresen Inc. 242,149 16.41 3,973,665 7.08
Other Net Assets     -9,195,355 -16.39
Total     56,100,495 100.00

Units Outstanding 2,072,277
NAV per unit $27.07