Capital Innovations 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
American Tower Corp	COM	03027X100	208	1,828	SH		SOLE		1,828	0	0
American Water Works Company Inc	COM	030420103	321	3,801	SH		SOLE		3,801	0	0
Anadarko Petroleum Corp	COM	032511107	899	16,875	SH		SOLE		16,875	0	0
Arcelormittal Sa	NY REGISTRY SH	03938L104	50	10,720	SH		SOLE		10,720	0	0
Archer Daniels Midland Co	COM	039483102	558	13,010	SH		SOLE		13,010	0	0
Atlantica Yield Plc	SHS	G0751N103	610	32,805	SH		SOLE		32,805	0	0
Barrick Gold Corp	COM	067901108	221	8,000	SH		SOLE		8,000	0	0
Boise Cascade Co	COM	09739D100	340	14,828	SH		SOLE		14,828	0	0
Brf Sa	SPONSORED ADR	10552T107	289	20,733	SH		SOLE		20,733	0	0
Bunge Ltd	COM	G16962105	300	5,065	SH		SOLE		5,065	0	0
Cf Industries Holdings Inc	COM	125269100	410	17,003	SH		SOLE		17,003	0	0
China Mobile Ltd	SPONSORED ADR	16941M109	313	5,410	SH		SOLE		5,410	0	0
Cosan Ltd	SHS A	G25343107	65	10,000	SH		SOLE		10,000	0	0
Crown Castle International Corp	COM	22822V101	339	3,345	SH		SOLE		3,345	0	0
Csx Corp	COM	126408103	781	29,940	SH		SOLE		29,940	0	0
Deere & Co	COM	244199105	429	5,295	SH		SOLE		5,295	0	0
Deltic Timber Corp	COM	247850100	382	5,690	SH		SOLE		5,690	0	0
Digital Realty Trust Inc	COM	253868103	607	5,573	SH		SOLE		5,573	0	0
Dominion Resources Inc	COM	25746U109	301	3,865	SH		SOLE		3,865	0	0
Domtar Corp	COM NEW	257559203	390	11,150	SH		SOLE		11,150	0	0
Duke Energy Corp	COM NEW	26441C204	501	5,835	SH		SOLE		5,835	0	0
Fibria Celulose Sa	SP ADR REP COM	31573A109	312	46,104	SH		SOLE		46,104	0	0
Genesee & Wyoming Inc	CL A	371559105	322	5,464	SH		SOLE		5,464	0	0
Genesis Energy Lp	UNIT LTD PARTN	371927104	293	7,630	SH		SOLE		7,630	0	0
Grupo Aeroportuario Del Sureste	SPON ADR SER B	40051E202	488	3,057	SH		SOLE		3,057	0	0
Host Hotels & Resorts Inc	COM	44107P104	238	14,665	SH		SOLE		14,665	0	0
International Paper Co	COM	460146103	1,066	25,146	SH		SOLE		25,146	0	0
Kansas City Southern	COM	485170302	579	6,432	SH		SOLE		6,432	0	0
Kapstone Paper And Packagng Corp	COM	48562P103	714	54,855	SH		SOLE		54,855	0	0
Kinder Morgan Inc	COM	49456B101	782	41,789	SH		SOLE		41,789	0	0
Korea Electric Power (Kepco)(P)	SPONSORED ADR	500631106	444	17,120	SH		SOLE		17,120	0	0
Louisiana Pacific Corp	COM	546347105	999	57,584	SH		SOLE		57,584	0	0
Macquarie Infrastructure Corp	COM	55608B105	968	13,070	SH		SOLE		13,070	0	0
Mead Johnson Nutrition Co	COM	582839106	336	3,700	SH		SOLE		3,700	0	0
Mondelez International Inc	CL A	609207105	230	5,054	SH		SOLE		5,054	0	0
Monsanto Co	COM	61166W101	873	8,443	SH		SOLE		8,443	0	0
Mosaic Co	COM	61945C103	518	19,788	SH		SOLE		19,788	0	0
MPLX LP	COM UNIT REP LTD	55336V100	214	6,370	SH		SOLE		6,370	0	0
Nabors Industries Ltd	SHS	G6359F103	280	27,875	SH		SOLE		27,875	0	0
National Grid Plc	SPON ADR NEW	636274300	428	5,761	SH		SOLE		5,761	0	0
Nextera Energy Inc	COM	65339F101	432	3,315	SH		SOLE		3,315	0	0
Occidental Petroleum Corp	COM	674599105	356	4,712	SH		SOLE		4,712	0	0
Oneok Inc	UNIT LTD PARTN	68268N103	228	4,800	SH		SOLE		4,800	0	0
Packaging Corp Of America	COM	695156109	1,328	19,839	SH		SOLE		19,839	0	0
PG&E Corp	COM	69331C108	824	12,895	SH		SOLE		12,895	0	0
Potlatch Corp	COM	737630103	870	25,515	SH		SOLE		25,515	0	0
Rayonier Inc.	COM	754907103	1,232	46,960	SH		SOLE		46,960	0	0
Resolute Forest Products Inc	COM	76117W109	95	17,960	SH		SOLE		17,960	0	0
Schlumberger Nv	COM	806857108	1,073	13,567	SH		SOLE		13,567	0	0
Sempra Energy	COM	816851109	218	1,910	SH		SOLE		1,910	0	0
Sonoco Products Co	COM	835495102	561	11,300	SH		SOLE		11,300	0	0
Spectra Energy Corp	COM	847560109	510	13,930	SH		SOLE		13,930	0	0
Syngenta Ag	SPONSORED ADR	87160A100	892	11,614	SH		SOLE		11,614	0	0
Total Sa	SPONSORED ADR	89151E109	893	18,570	SH		SOLE		18,570	0	0
Tyson Foods Inc	CL A	902494103	259	3,880	SH		SOLE		3,880	0	0
Ventas Inc	COM	92276F100	413	5,666	SH		SOLE		5,666	0	0
Waste Connections Inc	COM	94106B101	502	5,833	SH		SOLE		5,833	0	0
Waste Management Inc	COM	94106L109	1,074	16,205	SH		SOLE		16,205	0	0
Wec Energy Group Inc	COM	92939U106	239	3,653	SH		SOLE		3,653	0	0
Westrock Co	COM	96145D105	1,138	29,269	SH		SOLE		29,269	0	0
Weyerhaeuser Co	COM	962166104	2,056	69,059	SH		SOLE		69,059	0	0
Williams Companies Inc	COM	969457100	346	15,995	SH		SOLE		15,995	0	0
Zoetis Inc	CL A	98978V103	357	7,519	SH		SOLE		7,519	0	0