NAV & Portfolio as of June 23, 2016


Security Number of Shares Closing Price per Share($) Amount ($) Weighting (%)
AltaGas Ltd. 78,705 30.79 2,423,327 5.22
BCE Inc. 62,695 60.25 3,777,374 8.13
Canadian Utilities Limited (A) 10,340 36.57 378,134 0.81
Canadian Utilities Limited (B) 62,334 36.50 2,275,191 4.90
Capital Power 133,112 19.04 2,534,452 5.46
Emera Inc. 80,412 46.48 3,737,550 8.05
Enbridge Inc. 62,715 54.92 3,444,308 7.42
Fortis Inc. 84,671 41.88 3,546,021 7.64
Gibson Energy Inc. 112,080 15.70 1,759,656 3.79
Inter Pipeline Fund 124,227 26.92 3,344,191 7.20
Keyera Corp. 96,957 37.86 3,670,792 7.90
Manitoba 91,576 37.70 3,452,415 7.43
Northland Power Inc. 154,109 21.99 3,388,857 7.30
Pembina Pipelines Corporation 91,100 38.90 3,543,790 7.63
Rogers Communications Inc. Cl. B 59,745 51.31 3,065,516 6.60
TELUS Corporation 81,952 41.40 3,392,813 7.31
TransAlta Corporation 197,772 6.64 1,313,206 2.83
TransCanada Corporation 60,628 57.34 3,476,410 7.49
Veresen Inc. 215,602 10.86 2,341,438 5.04
Other Net Assets     -8,422,057 -18.13
Total     46,443,383 100.00

Units Outstanding 1,844,975
NAV per unit $25.17