Ecofin Sustainable and Social Impact Term Fund NPORTP Tortoise Essential Assets Income Term Fund (Feb 2021 report)

Tortoise Essential Assets Income Term Fund
SCHEDULE OF INVESTMENTS (Unaudited)

	February 28, 2021
	Principal Amount/Shares		Fair Value
Common Stock - 59.2%⁽¹⁾
Natural Gas/Natural Gas Liquids Pipelines - 6.5%⁽¹⁾
Australia - 1.2%⁽¹⁾
APA Group⁽⁴⁾	$	381,154		2,724,561
Italy - 2.0%⁽¹⁾
Snam SpA		829,162		4,297,825
United States - 3.3%⁽¹⁾
Cheniere Energy Inc.^(2)(3)(4')		37,300		2,513,647
ONEOK, Inc.		28		1,240
The Williams Companies, Inc.⁽²⁾⁽⁴⁾		204,900		4,679,916
				14,217,189
Natural Gas Gathering/Processing - 3.5%⁽¹⁾
United States - 3.5%⁽¹⁾
Equitrans Midstream Corp.⁽²⁾⁽⁴⁾		559,599		4,045,899
Targa Resources Corp.⁽²⁾⁽⁴⁾		115,400		3,569,322
				7,615,221

Other - 5.9%⁽¹⁾
Australia - 0.8%⁽¹⁾
Atlas Arteria Ltd.⁽⁴⁾		433,994		1,853,348
Great Britain - 1.9%⁽¹⁾
Greencoat UK Wind PLC		2,346,273		4,164,498
Spain - 0.8%⁽¹⁾
Ferrovial SA⁽⁴⁾		74,099		1,845,300
United States - 2.4%⁽¹⁾
Enviva Partners LP⁽⁴⁾		97,485		5,169,630
				13,032,776
Power - 28.1%⁽¹⁾
Australia - 2.3%⁽¹⁾
Spark Infrastructure Group⁽⁴⁾		3,198,389		5,020,439
Canada - 1.9%⁽¹⁾
Algonquin Power & Utilities Corp⁽⁴⁾		240,919		3,731,348
Brookfield Renewable Corp.		7,495		346,119
Italy - 6.0%⁽¹⁾
Enel SpA		754,810		7,143,651
Iren SpA⁽⁴⁾		1,103,669		2,735,170
Terna SpA⁽⁴⁾		455,367		3,169,070
Portugal - 3.5%⁽¹⁾
EDP - Energias de Portugal SA⁽⁴⁾		1,349,022		7,724,882
Spain - 5.5%⁽¹⁾
Endesa SA⁽⁴⁾		249,917		6,196,588
Iberdrola SA		475,219		5,977,435
United States - 4.1%⁽¹⁾
Covanta Holding Corp⁽⁴⁾		322,111		4,525,660
Edison International⁽²⁾⁽⁴⁾		82,854		4,473,288
United Kingdom - 4.8%⁽¹⁾
National Grid PLC⁽²⁾⁽⁴⁾		400,005		4,493,975
SSE PLC⁽⁴⁾		327,081		6,035,621
				61,573,246

Renewables - 5.4%⁽¹⁾
Canada - 5.4%⁽¹⁾
Brookfield Renewable Corp.⁽⁴⁾		28,422		1,316,131
Innergex Renewable Energy Inc⁽⁴⁾		213,422		4,038,348
TransAlta Renewables Inc⁽⁴⁾		401,501		6,366,722
				11,721,201
Solar - 1.7%⁽¹⁾
United States - 1.7%⁽¹⁾
Sunnova Energy Intl Inc.⁽⁴⁾		82,766		3,711,228
				3,711,228
Transportation / Storage - 1.5%⁽¹⁾
Hong Kong - 1.5%⁽¹⁾
China Suntien Green Energy Corp.		10,373,849		3,236,624
				3,236,624
Water Infrastructure - 1.7%⁽¹⁾
United Kingdom - 1.7%⁽¹⁾
Pennon Group PLC		301,562		3,672,001
				3,672,001

Total Common Stock (Cost $111,958,999)				118,779,486



Master Limited Partnerships - 5.2%⁽¹⁾
Natural Gas/Natural Gas Liquids Pipelines - 2.0%⁽¹⁾
United States - 2.0%⁽¹⁾
Enterprise Products Partners L.P.⁽²⁾⁽⁴⁾		200,400		4,272,524

Refined Product Pipelines - 2.3%⁽¹⁾
United States - 2.3%⁽¹⁾
MPLX LP⁽²⁾⁽⁴⁾		210,100		5,002,481

Renewables - 0.9%⁽¹⁾
Canada - 0.9%⁽¹⁾
Brookfield Renewable Partners LP⁽⁴⁾		47,413		2,010,004

Total Master Limited Partnerships (Cost $10,809,106)				11,285,009

Corporate Bonds - 9.0%⁽¹⁾
Education - 0.4%⁽¹⁾
United States - 0.4%⁽¹⁾
Pioneer Technology & Arts Academy Project - Series B		410,000		364,900
Village Charter School Inc⁽⁶⁾		800,000		600,000
				964,900
Healthcare - 2.5%⁽¹⁾
United States - 2.5%⁽¹⁾
Grace Commons Property, 15.000%, 10/31/2023⁽⁵⁾		1,825,000		1,786,182
Grace Commons Property, 8.000%, 10/31/2023⁽⁵⁾		3,650,000		3,578,814
				5,364,996
Project Finance - 4.9%⁽¹⁾
United States - 4.9%⁽¹⁾
C2NC Holdings, 13.000%, 05/01/2027⁽⁵⁾		10,715,000		10,758,921

Renewable Infrastructure - 4.1%⁽¹⁾
United States - 4.1%⁽¹⁾
Southern Ohio Port Authority, 13.000%, 12/01/2027		9,000,000		9,046,080


Senior Living - 2.0%⁽¹⁾
United States - 2.0%⁽¹⁾
Drumlin Reserve Property LLC, 16.000%, 10/02/2025⁽⁵⁾		1,050,000		1,055,261
Drumlin Reserve Property LLC, 10.000%, 10/02/2025⁽⁵⁾		1,705,311		1,713,604
Realco Perry Hall MD LLC/OPCO Sub 144A NT 10.000% 10/01/2024⁽⁵⁾		2,280,000		1,553,451
				4,322,316

Total Corporate Bond (Cost $31,435,311)				30,457,213

Preferred Stock - 6.8%⁽¹⁾
Natural Gas/Natural Gas Liquids Pipelines - 4.7%⁽¹⁾
United States - 4.7%⁽¹⁾
Altus Midstream Company Preferred⁽⁵⁾⁽⁶⁾		4,293,985		5,198,857
Enterprise Products Partners L.P. - Preferred⁽⁶⁾		5,000,000		5,081,900
				10,280,757
Renewables - 0.8%⁽¹⁾
United States - 0.8%⁽¹⁾
NextEra Energy Partners LP		30,351		1,709,368

Water Utilities - 1.3%⁽¹⁾
United States - 1.3%⁽¹⁾
Essential Utilities, Inc.		51,599		2,814,210


Total Preferred Stock (Cost $15,414,917)				14,804,335

Private Investments - 22.1%⁽¹⁾
Natural Gas/Natural Gas Liquids Pipelines - 0.1%⁽¹⁾
Mexico Pacific Limited LLC (MPL) Series A⁽⁵⁾⁽⁶⁾		88,889		237,334
Renewables - 22.0%⁽¹⁾
United States - 22.0%⁽¹⁾
TK NYS Solar Holdco, LLC^(5)(6)(7)(Cost $27,363,305)		28,034,342		23,169,739
Teaf Solar Holdco, LLC^(5)(6)(7)(Cost $26,526,218)		26,797,212		24,817,274
				47,987,013

Total Private Investments (Cost $55,889,523)				48,224,347

Municipal Bond - 6.1%⁽¹⁾
Education - 0.3%⁽¹⁾
United States - 0.3%⁽¹⁾
Public Finance Authority Educational Facility Revenue, 9.000%, 06/01/2029		185,000		183,574
California ST Enterprise Dev A Rev Bonds, 10.000%, 06/15/2030		380,000		360,252
Other - 5.8%⁽¹⁾				543,826
United States - 5.8%⁽¹⁾
Florida - 0.4%⁽¹⁾
Florida Development Finance Corp, 10.000%, 07/01/2025		445,000		378,250
Florida Development Finance Corp, 10.000%, 02/15/2028		595,000		590,329
				968,579
Pennsylvania - 1.4%⁽¹⁾
Philadelphia Authority for Industrial Development, 10.000%, 06/15/2030		3,135,000		3,123,808
Wisconsin - 4.0%⁽¹⁾
Public Finance Authority, 9.000%, 06/01/2029		8,925,000		8,677,331


Total Municipal Bonds (Cost $13,641,122)				13,313,544

Construction Note - 1.6%⁽¹⁾
Renewables - 1.6%⁽¹⁾
Bermuda - 1.6%⁽¹⁾
Saturn Solar Bermuda 1 Ltd., 6.000%, 02/28/2020 (Cost $3,778,904)⁽⁵⁾⁽⁶⁾		3,510,000		3,526,848


Special Purpose Acquisition Company Units - 4.6%⁽¹⁾
Energy Technology - 4.6%⁽¹⁾
United States - 4.6%⁽¹⁾
Bluescape Opportunities Acquisition Corp.		57,773		619,327
Climate Change Crisis Real Impact Class A		22,317		345,467
Climate Real Impact Solutions II Acquisition Corp.		61,645		678,095
Decarbonization Plus Acquisition II		31,536		335,228
ECP Environmental Growth Opportunities Corp.		46,810		498,527
European Sustainable Growth Acquisition Corp.		64,852		686,783
Hennessy Captial Investment Corp. V		65,133		707,344
Kensington Capital Acquisition Corp. II		15,696		171,871
Northern Genesis Acquisition Unit		25,587		279,666
Power & Digital Infrastructure Acquisition Corp.		54,610		592,519
Qell Acquisition Corp.		28,285		337,157
Queen's Gambit Growth Capital		60,459		637,843
Rice Acquisition Corp.		43,446		474,430
RMG Acquisition Corp III		39,420		413,910
Spartan Acquisition Corp III		46,810		490,569
Star Peak Corp II		23,540		266,002
Star Peak Energy Transition		13,641		466,249
Sustainable Development Acquisition I Corp		78,840		827,820
Switchback II Corp		24,617		280,634
Warrior Technologies Acquisition Co.		93,510		936,035

Special Purpose Acquisition Company Units (Cost $9,075,917)				10,045,476

Warrants - 0.1%⁽¹⁾
Energy Technology - 0.1%⁽¹⁾
Bluescape Opportunities Acquisition Corp. Warrant		28,887		62,106
Climate Change Crisis Real Impact Warrant⁽⁴⁾		28,169		102,817
Qell Acquisition Corp. Warrant		12,571		37,714
Rice Acquisition Corp. Warrant		28,964		65,748

Total Warrants (Cost $177,918)				268,385

Short-Term Investment - 0.1%⁽¹⁾
United States Investment Company - 0.1%⁽¹⁾
First American Government Obligations Fund, 0.01%⁽⁸⁾ (Cost $322,016)		322,016		322,016

Total Investments - 114.8%⁽¹⁾ (Cost $252,503,731)				251,026,659
Total Value of Options Written (Premiums received $429,682)⁽⁹⁾ - (0.1)%⁽¹⁾				(312,326	)
Other Assets and Liabilities - 4.9%⁽¹⁾				10,823,069
Credit Facility Borrowings - (19.6)%⁽¹⁾				(42,800,000	)
Total Net Assets Applicable to Common Stockholders - 100.0%⁽¹⁾				218,737,402

(1)	Calculated as a percentage of net assets applicable to common stockholders.
(2)	All or a portion of the security represents cover for outstanding call option contracts written.
(3)	Non-income producing security.
(4)	All or a portion of the security is segregated as collateral for the margin borrowing facility.
(5)	Restricted securities have a total fair value of $82,478,185 which represents 37.7% of net assets.
(6)	Securities have been valued by using significant unobservable inputs in accordance with fair value procedures and are categorized as level 3 investments, as more fully described in Note 2 to the financial statements.
(7)	Deemed to be an affiliate of the fund.
(8)	Rate indicated is the current yield as of February 28, 2021.
(9)	See Schedule of Options Written Note to the financial statements for further disclosure.

Various inputs are used in determining the fair value of the Funds’ investments and financial instruments. These inputs are summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical investments

Level 2 – other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.)

Level 3 – significant unobservable inputs (including a Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following tables provide the fair value measurements of applicable assets and liabilities by level within the fair value hierarchy as of February 28, 2021. These assets and liabilities are measured on a recurring basis.

TEAF:
Description	Level 1		Level 2		Level 3		Total
Assets
Investments:
Common Stock^(a)	$	129,538,407	$	-	$	-	$	129,538,407	$	80,047,181
Warrants^(a)		268,385		-		-		268,385
Master Limited Partnerships^(a)		11,285,009		-		-		11,285,009
Corporate Bonds^(a)		-		19,698,292		-		19,698,292
Preferred Stock^(a)		4,523,578		-		10,280,757		14,804,335
Private Investments^(a)		-		-		48,224,347		48,224,347
Municipal Bonds^(a)		-		13,313,544		-		13,313,544
Construction Note^(a)		-		-		3,526,848		3,526,848
Special Purpose Acquisition Units^(a)		10,045,476		-		-		10,045,476
Short-Term Investment^(b)		322,016		-		-		322,016
Total Assets	$	155,982,871	$	33,012,836	$	62,031,952	$	251,026,659	$	234,392,768
Liabilities
Written Call Options			$	312,326	$	-	$	312,326	$	165,163

(a)	All other industry classifications are identified in the Schedule of Investments.

(b)	Short-term investment is a sweep investment for cash balances.

The following tables present each Fund’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the period ended February 28, 2021:

Preferred Stock			TEAF
Balance – beginning of period			14,104,903
Purchases			-
Return of capital			-
Sales			(4,000,000)
Total realized gain/loss			(300,000)
Change in unrealized gain/loss			475,854
Balance – end of period			$10,280,757

Private Investments	TEAF
Balance – beginning of period	$47,430,707
Purchases	1,214,419
Return of capital	-
Sales	-
Total realized gain/loss	-
Change in unrealized gain/loss	(420,779)
Balance – end of period	$48,224,347

Construction Note	TEAF
Balance – beginning of period	$3,522,987
Purchases	-
Return of capital	-
Sales	-
Total realized gain/loss	-
Change in unrealized gain/loss	3,861
Balance – end of period	$3,526,848

Convertible Bond	TEAF
Balance – beginning of period	$3,322,076
Purchases	-
Return of capital	-
Sales	-
Corporate Actions	(3,322,076)
Total realized gain/loss	-
Change in unrealized gain/loss	-
Balance – end of period	$-

	TEAF
Change in unrealized gain/loss on investments still held at February 28, 2021	$58,936

SCHEDULE OF INTEREST RATE SWAP CONTRACTS (Unaudited)
February 28, 2021

Tortoise Energy Infrastructure Corp.
Counterparty	Maturity Date	Notional Amount	Fixed Rate Paid by TYG	Floating Rate Received by TYG	Unrealized Depreciation
The Bank of Nova Scotia	09/02/2021	$ 10,000,000	2.381%	1-month U.S. Dollar LIBOR	$ (134,836)

Ecofin Sustainable and Social Impact Term Fund (TEAF) NPORT-PTortoise Essential Assets Income Term Fund (Feb 2021 report)