RECURRENT MLP & INFRASTRUCTURE FUND | |||||||
SCHEDULE OF INVESTMENTS (Unaudited) | |||||||
July 31, 2023 | |||||||
Shares | Fair Value | ||||||
COMMON STOCKS — 75.6% | |||||||
OIL & GAS PRODUCERS - 75.6% | |||||||
908,605 | AltaGas Ltd. | $ 17,936,983 | |||||
2,202,445 | Cenovus Energy, Inc. | 41,890,504 | |||||
179,698 | Cheniere Energy, Inc. | 29,085,918 | |||||
304,734 | Enbridge, Inc. | 11,214,211 | |||||
2,722,350 | Equitrans Midstream Corporation | 28,230,770 | |||||
829,560 | Keyera Corporation | 20,767,941 | |||||
1,261,964 | Kinder Morgan, Inc. | 22,349,383 | |||||
222,459 | Marathon Petroleum Corporation | 29,591,496 | |||||
984,549 | Pembina Pipeline Corporation | 31,190,512 | |||||
265,106 | Phillips 66 | 29,572,574 | |||||
2,503,833 | Plains GP Holdings, L.P., Class A | 39,285,140 | |||||
908,608 | Suncor Energy, Inc. | 28,430,344 | |||||
329,779 | Targa Resources Corporation | 27,038,580 | |||||
169,390 | TC Energy Corporation | 6,076,019 | |||||
209,963 | Valero Energy Corporation | 27,066,330 | |||||
782,467 | Viper Energy Partners, L.P. | 21,220,505 | |||||
724,932 | Williams Companies, Inc. (The) | 24,973,908 | |||||
TOTAL COMMON STOCKS (Cost $323,105,730) | 435,921,118 | ||||||
MASTER LIMITED PARTNERSHIPS — 22.9% | |||||||
METALS & MINING - 2.3% | |||||||
676,080 | Alliance Resource Partners, L.P. | 13,467,513 | |||||
OIL & GAS PRODUCERS - 20.6% | |||||||
3,016,546 | Energy Transfer, L.P. | 40,089,896 | |||||
983,593 | Enterprise Products Partners, L.P. | 26,075,050 | |||||
250,343 | Magellan Midstream Partners, L.P. | 16,590,231 | |||||
158,627 | Sunoco, L.P. | 7,271,462 | |||||
1,006,885 | Western Midstream Partners, L.P. | 28,464,639 | |||||
118,491,278 | |||||||
TOTAL MASTER LIMITED PARTNERSHIPS (Cost $101,144,617) | 131,958,791 | ||||||
RECURRENT MLP & INFRASTRUCTURE FUND | |||||||||||
SCHEDULE OF INVESTMENTS (Unaudited) (Continued) | |||||||||||
July 31, 2023 | |||||||||||
Shares | Fair Value | ||||||||||
SHORT-TERM INVESTMENT — 2.1% | |||||||||||
MONEY MARKET FUND - 2.1% | |||||||||||
12,063,059 | First American Government Obligations Fund, Class X, 5.18% (Cost $12,063,059)(a) | $ 12,063,059 | |||||||||
TOTAL INVESTMENTS - 100.6% (Cost $436,313,406) | $ 579,942,968 | ||||||||||
LIABILITIES IN EXCESS OF OTHER ASSETS - (0.6)% | (3,458,658) | ||||||||||
NET ASSETS - 100.0% | $ 576,484,310 | ||||||||||
L.P. | - Limited Partnership |
Ltd. | - Limited Company |
(a) | Rate disclosed is the seven day effective yield as of July 31, 2023. |