NAV & Portfolio as of January 19, 2017


Security Number of Shares Closing Price per Share($) Amount ($) Weighting (%)
AltaGas Ltd. 78,705 32.23 2,536,662 5.10
BCE Inc. 62,695 58.41 3,662,015 7.36
Canadian Utilities Limited (A) 10,340 37.21 384,751 0.77
Canadian Utilities Limited (B) 62,334 37.25 2,321,942 4.66
Capital Power 133,112 24.37 3,243,939 6.52
Emera Inc. 80,412 45.88 3,689,303 7.41
Enbridge Inc. 62,715 56.73 3,557,822 7.15
Fortis Inc. 84,671 41.53 3,516,387 7.06
Gibson Energy Inc. 112,080 19.28 2,160,902 4.34
Inter Pipeline Fund 124,227 28.71 3,566,557 7.16
Keyera Corp. 96,957 39.44 3,823,984 7.68
Manitoba Telecom Services Inc. 91,576 38.01 3,480,804 6.99
Northland Power Inc. 154,109 23.51 3,623,103 7.28
Pembina Pipelines Corporation 91,100 41.67 3,796,137 7.63
Rogers Communications Inc. Cl. B 59,745 52.03 3,108,532 6.24
TELUS Corporation 81,952 43.61 3,573,927 7.18
TransAlta Corporation 197,772 7.87 1,556,466 3.13
TransCanada Corporation 60,628 61.91 3,753,479 7.54
Veresen Inc. 215,602 13.29 2,865,351 5.76
Other Net Assets     -8,442,848 -16.96
Total     49,779,214 100.00

Units Outstanding 1,844,975
NAV per unit $26.98