Eip Investment Trust NPORT-P EIP Growth and Income Fund (Jul 2024 report)

EIP Growth and Income Fund
Schedule of Investments
July 31, 2024 (Unaudited)
COMMON STOCKS - 72.5%	Shares		Value
Canada - 9.6%
Energy - 6.4%
Imperial Oil Ltd.		31,400		2,249,501
Keyera Corp.		46,190		1,303,082
Suncor Energy, Inc.		10,600		423,340
TC Energy Corp.		32,356		1,372,218
				5,348,141
Independent Power and Renewable Electricity Producers - 0.2%
Northland Power, Inc.		10,500		175,602
			$	–
Utilities - 3.0%
AltaGas, Ltd.		8,701		207,465
Atco Ltd./Canada - Class I		37,570		1,165,483
Canadian Utilities Ltd. - Class A		2,310		54,092
Emera, Inc.		800		28,879
Fortis, Inc./Canada		14,950		625,006
Hydro One Ltd. (a)		12,700		398,022
				2,478,947
Total Canada				8,002,690
Denmark - 0.1%
Utilities - 0.1%
Orsted A/S - ADR (b)		5,705		113,073
France - 2.6%
Energy - 2.6%
TotalEnergies SE - ADR		32,100		2,175,738
Italy - 0.2%
Utilities - 0.2%
Enel SpA - ADR		25,094		178,167
Spain - 0.0%(c)
Independent Power and Renewable Electricity Producers - 0.0%(c)
EDP Renovaveis SA		386		5,991
United Kingdom - 3.9%
Energy - 3.6%
BP PLC - ADR		40,900		1,447,451
Shell PLC - ADR		20,800		1,522,976
				2,970,427
Energy Equipment & Services - 0.3%
TechnipFMC PLC		8,900		262,550
Total United Kingdom				3,232,977
United States - 56.1%(d)
Architectural, Engineering, and Related Services - 0.3%
Jacobs Solutions, Inc.		1,400		204,890
			$	–
Construction & Engineering - 2.9%
Fluor Corp. (b)		25,400		1,221,740
Quanta Services, Inc.		4,580		1,215,440
				2,437,180
Energy - 19.0%
Cheniere Energy, Inc.		6,550		1,196,292
DT Midstream, Inc.		41,420		3,121,411
Enbridge, Inc.		22,009		823,577
EQT Corp.		12,000		414,120
Exxon Mobil Corp.		8,700		1,031,733
Kinder Morgan, Inc.		77,620		1,640,111
ONEOK, Inc.		59,505		4,958,552
Targa Resources Corp.		16,800		2,272,704
The Williams Companies, Inc.		7,609		326,730
				15,785,230
Energy Equipment & Services - 3.4%
Archrock, Inc.		18,800		389,724
Cactus, Inc. - Class A		4,200		265,104
Halliburton Co.		19,000		658,920
Helmerich & Payne, Inc.		5,300		214,226
NOV, Inc.		12,100		251,922
Schlumberger NV		21,300		1,028,577
				2,808,473
Independent Power and Renewable Electricity Producers - 3.5%
Clearway Energy, Inc. - Class A		80,760		1,989,119
The AES Corp.		10,860		193,199
Vistra Corp.		9,400		744,668
				2,926,986
Utilities - 27.0%
Alliant Energy Corp.		23,010		1,280,737
Ameren Corp.		3,200		253,664
American Electric Power Co., Inc.		18,049		1,770,968
American Water Works Co., Inc.		100		14,236
Atmos Energy Corp.		11,950		1,528,166
CenterPoint Energy, Inc.		14,190		393,772
Chesapeake Utilities Corp.		3,600		424,908
CMS Energy Corp.		12,826		831,125
Constellation Energy Corp.		2,390		453,622
Dominion Energy, Inc.		8,000		427,680
DTE Energy Co.		7,294		879,146
Duke Energy Corp.		3,990		435,987
Entergy Corp.		7,900		916,163
Essential Utilities, Inc.		14,100		573,165
Evergy, Inc.		21,910		1,270,780
Eversource Energy		13,732		891,344
IDACORP, Inc.		3,400		332,350
National Fuel Gas Co.		39,240		2,299,072
New Jersey Resources Corp.		7,100		331,925
ONE Gas, Inc.		13,115		913,197
PPL Corp.		35,400		1,052,088
Public Service Enterprise Group, Inc.		11,120		887,042
Sempra Energy		12,910		1,033,575
The Southern Co.		16,090		1,343,837
UGI Corp.		7,600		188,328
WEC Energy Group, Inc.		14,140		1,216,888
Xcel Energy, Inc.		8,774		511,349
				22,455,114
Total United States				46,617,873
TOTAL COMMON STOCKS (Cost $50,480,527)				60,326,509
MASTER LIMITED PARTNERSHIPS - 24.5%	Units		Value
United States - 24.5%
Chemicals - 1.5%
Westlake Chemical Partners, LP		52,991		1,215,084
			$	–
Energy - 22.0%
Cheniere Energy Partners LP		22,325		1,175,634
Energy Transfer, LP		352,900		5,741,683
Enterprise Products Partners, LP		171,034		4,936,041
Hess Midstream LP - Class A(f)		19,360		725,613
MPLX, LP		64,100		2,744,762
Plains GP Holdings LP (f)		84,260		1,609,366
Sunoco LP		15,500		851,260
TXO Partners LP		24,700		506,597
				18,290,956
Energy Equipment & Services - 0.3%
USA Compression Partners, LP		10,400		238,576
			$	–
Independent Power and Renewable Electricity Producers - 0.7%
NextEra Energy Partners, LP(f)		24,198		618,259
Total United States				20,362,875
TOTAL MASTER LIMITED PARTNERSHIPS (Cost $14,447,913)				20,362,875
SHORT-TERM INVESTMENTS - 1.7%
	Shares
Money Market Fund — 1.7%
First American Treasury Obligations Fund - Class Z, 5.14% (e)		1,390,296		1,390,296
TOTAL SHORT-TERM INVESTMENTS (Cost $1,390,296)				1,390,296
TOTAL INVESTMENTS - 98.7% (Cost $66,318,736)				82,079,680
Other Assets in Excess of Liabilities - 1.3%				1,090,470
TOTAL NET ASSETS - 100.0%			$	83,170,150
Percentages are stated as a percent of net assets.

ADR - American Depositary Receipt

NV - Naamloze Vennootschap

PLC - Public Limited Company

SA - Sociedad Anónima

(a)	Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of July 31, 2024, the value of these securities total $398,022 or 0.5% of the Fund’s net assets.
(b)	Non-income producing security.
(c)	Represents less than 0.05% of net assets.
(d)	To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region.
(e) (f)	The rate shown represents the 7-day annualized effective yield as of July 31, 2024. This security has elected to be treated as a corporation for U.S. federal income tax purposes.

EIP Growth and Income Fund

Schedule of Total Return Swap Contracts

July 31, 2024 (Unaudited)

Reference Entity	Counterparty	Pay/ Receive Reference Entity	Financing Rate	Payment Frequency	Maturity Date	Notional Amount(a)		Value/ Unrealized Appreciation (Depreciation)(b)
American Water Works Co., Inc.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025	$	38,172	$	1,589
Atmos Energy Corp.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		369,740		20,615
Cheniere Energy, Inc.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		88,830		2,260
Clearway Energy, Inc. - Class A	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		196,682		14,626
DT Midstream, Inc.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		340,608		20,237
Enterprise Products Partners, LP	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		2,494,096		(24,580	)
IDACORP, Inc.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		94,405		4,078
Kinder Morgan, Inc.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		59,905		3,550
New Jersey Resources Corp.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		78,765		3,778
Sempra Energy	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		621,844		31,436
The Williams Companies, Inc.	BNP Paribas Prime Brokerage, Inc.	Receive	OBFR + 0.90%	Monthly	06/17/2025		117,891		747
Total Unrealized Appreciation (Depreciation)								$	78,336

There are no upfront payments or receipts associated with total return swaps in the Fund as of July 31, 2024. The amount of $960,000 in cash was segregated with the custodian to cover the above total return swaps outstanding.

OBFR - Overnight Bank Funding Rate

(a) The notional amount represents the U.S. dollar value of the contract as of the day of the opening of the transaction or latest contract reset date.

(b) Amounts include $33,425 of net dividends and financing costs.

Summary of Fair Value Disclosure as of July 31, 2024 (Unaudited)

EIP Growth and Income Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.

Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.

Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.

The following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2024:

	Level 1		Level 2			Level 3		Total
Assets:
Investments:
Common Stocks	$	60,326,509	$	–		$	–	$	60,326,509
Master Limited Partnerships		20,362,875		–			–		20,362,875
Money Market Funds		1,390,296		–			–		1,390,296
Total Investments	$	82,079,680	$	–		$	–	$	82,079,680
Other Financial Instruments*:
Total Return Swaps		–		102,916			–		102,916
Total Other Financial Instruments	$	–	$	102,916		$	–	$	102,916
Liabilities:
Other Financial Instruments*:
Total Return Swaps		–		(24,580	)		–		(24,580	)
Total Other Financial Instruments	$	–	$	(24,580	)	$	–	$	(24,580	)
* The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of July 31, 2024.
Refer to the Schedule of Investments for further disaggregation of investment categories.