NAV & Portfolio as of April 27, 2017


Security Number of Shares Closing Price per Share($) Amount ($) Weighting (%)
AltaGas Ltd. 82,483 30.53 2,518,206 4.87
BCE Inc. 93,014 62.02 5,768,728 11.16
Canadian Utilities Limited (A) 13,332 39.27 523,548 1.01
Canadian Utilities Limited (B) 62,334 39.00 2,431,026 4.70
Capital Power 137,578 24.68 3,395,425 6.57
Emera Inc. 82,880 47.26 3,916,909 7.58
Enbridge Inc. 64,846 56.45 3,660,557 7.08
Fortis Inc. 87,330 44.38 3,875,705 7.50
Gibson Energy Inc. 118,107 18.43 2,176,712 4.21
Inter Pipeline Fund 128,369 27.87 3,577,644 6.92
Keyera Corp. 99,976 37.86 3,785,091 7.32
Northland Power Inc. 158,802 23.91 3,796,956 7.35
Pembina Pipelines Corporation 93,842 43.33 4,066,174 7.87
Rogers Communications Inc. Cl. B 61,774 62.75 3,876,318 7.50
TELUS Corporation 84,653 45.29 3,833,934 7.42
TransAlta Corporation 213,433 6.99 1,491,897 2.89
TransCanada Corporation 62,493 63.30 3,955,807 7.65
Veresen Inc. 223,950 15.07 3,374,926 6.53
Other Net Assets     -8,333,503 -16.12
Total     51,692,061 100.00

Units Outstanding 1,844,975
NAV per unit $28.02