| MainGate MLP Fund | ||||||||
| SCHEDULE OF INVESTMENTS (Unaudited) | ||||||||
| February 29, 2020 | ||||||||
Master Limited Partnerships and Related Companies - 92.5%(1) | Shares | Fair Value | ||||||
Crude/Refined Products Pipelines and Storage - 35.1%(1) | ||||||||
Canada - 0.5%(1) | ||||||||
| Enbridge, Inc. | 130,000 | $ | 4,865,900 | |||||
United States - 34.6%(1) | ||||||||
| BP Midstream Partners, L.P. | 1,000,000 | 13,320,000 | ||||||
| Genesis Energy, L.P. - Class A | 2,950,000 | 29,293,500 | ||||||
| Magellan Midstream Partners, L.P. | 1,355,000 | 73,915,250 | ||||||
| MPLX, L.P. | 2,527,000 | 51,272,830 | ||||||
| Phillips 66 Partners, L.P. | 571,000 | 31,045,270 | ||||||
| Plains All American Pipeline, L.P. | 3,611,000 | 49,362,370 | ||||||
| Plains GP Holdings, L.P. - Class A | 3,549,000 | 48,869,730 | ||||||
| Shell Midstream Partners, L.P. | 1,500,000 | 25,665,000 | ||||||
| 322,743,950 | ||||||||
Natural Gas/Natural Gas Liquid Pipelines and Storage - 43.6%(1) | ||||||||
Canada - 0.6%(1) | ||||||||
| TC Energy Corporation | 100,000 | 5,235,000 | ||||||
United States - 43.0%(1) | ||||||||
Cheniere Energy, Inc.(2) | 89,000 | 4,564,810 | ||||||
| Energy Transfer, L.P. | 10,355,000 | 114,733,400 | ||||||
| Enterprise Products Partners, L.P. | 4,200,000 | 98,028,000 | ||||||
| Equitrans Midstream Corporation | 400,000 | 2,824,000 | ||||||
| Kinder Morgan, Inc. | 3,321,000 | 63,663,570 | ||||||
| ONEOK, Inc. | 400,000 | 26,688,000 | ||||||
| Williams Companies, Inc. | 4,782,000 | 91,097,100 | ||||||
| 401,598,880 | ||||||||
Natural Gas Gathering/Processing - 13.8%(1) | ||||||||
United States - 13.8%(1) | ||||||||
| Antero Midstream Corporation | 4,089,000 | 17,828,040 | ||||||
| Enlink Midstream, LLC | 6,260,000 | 23,850,600 | ||||||
| Targa Resources Corporation | 1,900,000 | 61,560,000 | ||||||
| Western Midstream Partners, L.P. | 1,970,000 | 25,728,200 | ||||||
| 128,966,840 | ||||||||
| Total Master Limited Partnerships and Related Companies (Cost $948,149,120) | 863,410,570 | |||||||
Total Investments - 92.5% (Cost $948,149,120)(1) | 863,410,570 | |||||||
Other Assets in Excess of Liabilities - 7.5%(1) | 70,486,134 | |||||||
Net Assets Applicable to Common Stockholders - 100.0%(1) | $ | 933,896,704 | ||||||
(1) | Calculated as a percentage of net assets applicable to common stockholders. | |||
(2) | Non-income producing security. |
Cost of investments | $ | 948,149,120 | ||
Gross unrealized appreciation | 108,106,778 | |||
Gross unrealized depreciation | 192,845,328 | ) | ||
Net unrealized depreciation | $ | (84,738,550 | ) |
| • | Level 1 — quoted prices in active markets for identical securities |
| • | Level 2 — significant other observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.) |
| • | Level 3 — significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments) |
| Fair Value Measurements at Reporting Date Using | |||||
| Quoted Prices in | Significant | ||||
| Active Markets for | Significant Other | Unobservable | |||
| Fair Value at | Identical Assets | Observable Inputs | Inputs | ||
Description | February 29, 2020 | (Level 1) | (Level 2) | (Level 3) | |
Equity Securities | |||||
| Master Limited Partnerships and Related Companies (a) | $ 863,410,570 | $ 863,410,570 | $ - | $ - | |
| Total | $ 863,410,570 | $ 863,410,570 | $ - | $ - | |
| (a) | All other industry classifications are identified in the Schedule of Investments. |
