NAV & Portfolio as of September 22, 2016


Security Number of Shares Closing Price per Share($) Amount ($) Weighting (%)
AltaGas Ltd. 78,705 33.56 2,641,340 5.33
BCE Inc. 62,695 61.03 3,826,276 7.72
Canadian Utilities Limited (A) 10,340 37.36 386,302 0.78
Canadian Utilities Limited (B) 62,334 37.25 2,321,942 4.69
Capital Power 133,112 20.91 2,783,372 5.62
Emera Inc. 80,412 47.90 3,851,735 7.77
Enbridge Inc. 62,715 57.44 3,602,350 7.27
Fortis Inc. 84,671 42.57 3,604,444 7.28
Gibson Energy Inc. 112,080 17.18 1,925,534 3.89
Inter Pipeline Fund 124,227 27.55 3,422,454 6.91
Keyera Corp. 96,957 41.71 4,044,076 8.16
Manitoba Telecom Services Inc. 91,576 37.75 3,456,994 6.98
Northland Power Inc. 154,109 23.76 3,661,630 7.39
Pembina Pipelines Corporation 91,100 40.10 3,653,110 7.37
Rogers Communications Inc. Cl. B 59,745 56.04 3,348,110 6.76
TELUS Corporation 81,952 43.00 3,523,936 7.11
TransAlta Corporation 197,772 6.11 1,208,387 2.44
TransCanada Corporation 60,628 63.14 3,828,052 7.73
Veresen Inc. 215,602 13.06 2,815,762 5.68
Other Net Assets     -8,359,999 -16.87
Total     49,545,807 100.00

Units Outstanding 1,844,975
NAV per unit $26.85