MEKETA INFRASTRUCTURE FUND | ||
SCHEDULE OF INVESTMENTS | ||
June 30, 2024 (Unaudited) | ||
PUBLIC INFRASTRUCTURE INVESTMENTS - 33.3% | ||
COMMON STOCKS - 33.3% | Shares | Value |
ENERGY - 5.1% | ||
OIL & GAS PRODUCERS - 5.1% | ||
Cheniere Energy, Inc. | 1,289 | $ 225,356 |
Enbridge, Inc. | 10,134 | 360,487 |
Kinder Morgan, Inc. | 9,065 | 180,122 |
ONEOK, Inc. | 2,380 | 194,089 |
TC Energy Corporation | 4,506 | 170,793 |
Williams Companies, Inc. (The) | 5,178 | 220,065 |
1,350,912 | ||
INDUSTRIALS - 8.5% | ||
TRANSPORTATION & LOGISTICS - 7.7% | ||
Canadian Pacific Kansas City Ltd. | 3,338 | 262,852 |
CSX Corporation | 7,057 | 236,057 |
Getlink SE | 20,218 | 334,620 |
Norfolk Southern Corporation | 763 | 163,808 |
Transurban Group | 70,977 | 587,056 |
Union Pacific Corporation | 2,012 | 455,235 |
2,039,628 | ||
TRANSPORTATION EQUIPMENT - 0.8% | ||
Canadian National Railway Company | 1,779 | 210,197 |
REAL ESTATE - 8.9% | ||
REAL ESTATE OWNERS & DEVELOPERS - 3.9% | ||
Aena SME, S.A. | 2,702 | 544,163 |
Auckland International Airport Ltd. | 106,718 | 496,015 |
1,040,178 | ||
REAL ESTATE INVESTMENT TRUSTS - 5.0% | ||
American Tower Corporation | 2,444 | 475,064 |
Crown Castle, Inc. | 4,468 | 436,524 |
SBA Communications Corporation - Class A | 2,005 | 393,582 |
1,305,170 | ||
UTILITIES - 10.8% | ||
ELECTRIC UTILITIES - 7.7% | ||
Dominion Energy, Inc. | 8,369 | 410,081 |
National Grid plc | 35,778 | 399,177 |
MEKETA INFRASTRUCTURE FUND | ||
SCHEDULE OF INVESTMENTS (Continued) | ||
COMMON STOCKS - 33.3% (Continued) | Shares | Value |
UTILITIES - 10.8% (Continued) | ||
ELECTRIC UTILITIES - 7.7% (Continued) | ||
NextEra Energy, Inc. | 6,054 | $ 428,683 |
Sempra | 5,630 | 428,218 |
Southern Company (The) | 4,744 | 367,992 |
2,034,151 | ||
GAS & WATER UTILITIES - 3.1% | ||
American Water Works Company, Inc. | 2,929 | 378,310 |
Atmos Energy Corporation | 3,744 | 436,737 |
815,047 | ||
TOTAL COMMON STOCKS (Cost $8,586,869) | $ 8,795,283 | |
PRIVATE INFRASTRUCTURE INVESTMENTS - 34.0% | Shares | Value |
PORTFOLIO COMPANIES - 34.0% | ||
Project Legacy (a)(b)(c)(d) | – | $ 4,475,361 |
Project Paragon (a)(b)(c)(d) | – | 4,500,000 |
TOTAL PRIVATE INFRASTRUCTURE INVESTMENTS (Cost $9,154,791) | $ 8,975,361 | |
MEKETA INFRASTRUCTURE FUND | ||
SCHEDULE OF INVESTMENTS (Continued) | ||
MONEY MARKET SECURITIES - 29.8% | Par Value | Value |
Fidelity Investments Money Market Treasury Portfolio - Class I, 5.19% (e) (Cost $7,850,080) | $ 7,850,080 | $ 7,850,080 |
TOTAL INVESTMENTS AT VALUE - 97.1% (Cost $25,591,740) | $ 25,620,724 | |
OTHER ASSETS IN EXCESS OF LIABILITIES - 2.9% | 753,895 | |
NET ASSETS - 100.0% | $ 26,374,619 | |
(a) | Level 3 securities fair valued using significant unobservable inputs. |
(b) | Investment does not issue shares. |
(c) | Restricted investments as to resale. |
(d) | Non-income producing security. |
(e) | The rate shown is the 7-day effective yield as of June 30, 2024. |
plc | - | Publicly Limited Company. |
S.A. | - | Societe Anonyme. |
SE | - | Societas Europaea. |
Restricted Securities - Restricted securities are securities that may be resold only upon registration under federal securities laws or in transactions exempt from such registration. In some cases, the issuer of restricted securities has agreed to register such securities for resale, at the issuer’s expense either upon demand by the Fund or in connection with another registered offering of the securities. Many restricted securities may be resold in the secondary market in transactions exempt from registration. Such restricted securities may be determined to be liquid under criteria established by the Board. The restricted securities may be valued at the price provided by dealers in the secondary market or, if no market prices are available, the fair value as determined in good faith in accordance with the Fund’s Pricing and Fair Valuation policies. Portfolio Funds generally are restricted securities that are subject to substantial holding periods and are not traded in public markets. The Fund may not be able to resell some of its investments for extended periods, which may be several years.
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Additional information on each restricted investment held by the Fund on June 30, 2024 is as follows:
Security Description | Acquisition Date | Cost | Value | % of Net Assets | |
Portfolio Company | |||||
Project Legacy | 6/3/2024 | $ 4,585,866 | $ 4,475,361 | 17.0% | |
Project Paragon | 5/30/2024 | 4,568,925 | 4,500,000 | 17.0% | |
Total | $ 9,154,791 | $ 8,975,361 | 34.0% |