Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	Kinder Morgan Management LLC	4,012,957	$378M	6.5%	$82.23	—	SHS	49455U100
EPD	Enterprise Prods Partners L	8,277,188	$334M	5.8%	$53.22	—	Com	293792107
—	Magellan Midstream Prtnrs LP	2,795,013	$235M	4.1%	$57.24	—	Com Unit RP LP	559080106
—	Enbridge Energy Partners L P	5,754,224	$224M	3.9%	$31.77	—	Com	29250R106
WMB	Williams Cos Inc Del	3,978,585	$220M	3.8%	$19.88	+52.0%	Com	969457100
PAA	Plains All Amern Pipeline L	3,575,259	$210M	3.6%	$56.07	—	Unit Ltd Partn	726503105
—	Enbridge Energy Management L	5,582,918	$208M	3.6%	$30.37	—	Shs Units LLI	29250X103
—	Oneok Partners LP	3,523,550	$197M	3.4%	$51.86	—	Unit Ltd Partn	68268N103
—	Energy Transfer Prtnrs L P	2,722,934	$174M	3.0%	$52.95	—	Unit Ltd Partn	29273R109
—	Williams Partners L P	3,022,960	$160M	2.8%	$52.63	—	Com Unit L P	96950F104
ARLP	Alliance Res Partner L P	3,674,132	$157M	2.7%	$57.25	—	Ut Ltd Part	01877R108
—	TC Pipelines LP	2,193,429	$149M	2.6%	$49.23	—	Ut Com Ltd Prt	87233Q108
KMI	Kinder Morgan Inc Del	3,781,389	$145M	2.5%	$20.09	+6.6%	Com	49456B101
—	Teekay LNG Partners L P	3,293,276	$143M	2.5%	$43.90	—	Prtnrsp Units	Y8564M105
—	Amerigas Partners L P	3,129,265	$143M	2.5%	$43.64	—	Unit L P Int	030975106
ET	Energy Transfer Equity L P	2,221,060	$137M	2.4%	$53.83	—	Com Ut Ltd Ptn	29273V100
—	Spectra Energy Partners LP	2,532,228	$134M	2.3%	$46.44	—	Com	84756N109
—	Transcanada Corp	2,257,804	$116M	2.0%	$44.21	—	Com	89353D107
D	Dominion Res Inc VA New	1,637,096	$113M	2.0%	$35.05	+21.6%	Com	25746U109
NEE	NextEra Energy Inc	1,084,083	$102M	1.8%	$15.40	+16.4%	Com	65339F101
ENB	ENBRIDGE INC	2,110,088	$101M	1.8%	$23.36	+13.0%	Com	29250N105
—	ITC Hldgs Corp	2,770,513	$98.71M	1.7%	$52.84	—	Com	465685105
SO	Southern Co	2,245,495	$98.02M	1.7%	$26.60	+1.9%	Com	842587107
—	El Paso Pipeline Partners L	2,425,414	$97.41M	1.7%	$40.84	—	Com Unit LPI	283702108
—	Holly Energy Partners L P	2,623,313	$95.49M	1.7%	$36.94	—	Com Ut Ltd Ptn	435763107
UGI	UGI Corp New	2,798,118	$95.39M	1.7%	$27.97	+21.6%	Com	902681105
—	Spectra Energy Corp	2,425,140	$95.21M	1.6%	$36.64	—	Com	847560109
—	Kinder Morgan Energy Partner	950,498	$88.66M	1.5%	$82.46	—	Ut Ltd Partner	494550106
NGL	NGL Energy Partners LP	2,188,590	$86.17M	1.5%	$33.63	—	Com Unit Repst	62913M107
—	Northeast Utils	1,918,640	$85M	1.5%	$43.09	—	Com	664397106
—	EQT Midstream Partners LP	890,057	$79.76M	1.4%	$49.56	—	Unit LTD Partn	26885B100
—	Alliance Holdings GP LP	1,058,418	$72.23M	1.3%	$63.69	—	Com Units LP	01861G100
NI	Nisource Inc	1,761,884	$72.2M	1.3%	$8.66	+23.6%	Com	65473P105
SPH	Suburban Propane Partners L	1,457,317	$64.92M	1.1%	$46.33	—	Unit Ltd Partn	864482104
—	Transmontaigne Partners L P	1,489,040	$61.41M	1.1%	$41.98	—	Com Unit L P	89376V100
—	Wisconsin Energy Corp	1,303,818	$56.06M	1.0%	$42.31	—	Com	976657106
—	NRG Yield Inc	1,141,923	$53.73M	0.9%	$32.29	—	COM CL A	62942X108
PEG	Public SVC Enterprise Group	1,376,419	$51.26M	0.9%	$25.05	-1.2%	Com	744573106
AEP	American Elec Pwr Inc	960,109	$50.13M	0.9%	$32.55	+8.5%	Com	025537101
—	Access Midstream Partners L	655,210	$41.7M	0.7%	$48.85	—	Unit	00434L109
CMS	CMS Energy Corp	1,400,959	$41.55M	0.7%	$19.81	+7.1%	Com	125896100
ATO	Atmos Energy Corp	865,218	$41.27M	0.7%	$34.20	+10.6%	Com	049560105
—	National Grid PLC	550,406	$39.56M	0.7%	$58.67	—	SPON ADR NEW	636274300
—	South Jersey Inds Inc	663,271	$35.39M	0.6%	$55.90	—	Com	838518108
SRE	Sempra Energy	324,853	$34.23M	0.6%	$32.11	+12.6%	Com	816851109
OGS	One Gas Inc.	984,391	$33.72M	0.6%	$36.57	+0.1%	Com	68235P108
—	Questar Corp	1,427,416	$31.82M	0.6%	$23.83	—	Com	748356102
MPLX	MPLX LP	529,000	$31.18M	0.5%	$36.81	—	Com Unit Rep Ltd	55336V100
—	Pattern Energy Group Inc	990,216	$30.62M	0.5%	$31.22	—	CL A	70338P100
XIFR	NextEra Energy Partners L P	734,362	$25.48M	0.4%	$34.92	0.0%	Com Unit Part In	65341B106
—	Laclede Group Inc	489,757	$22.73M	0.4%	$45.66	—	Com	505597104
—	Scana Corp New	451,149	$22.38M	0.4%	$50.50	—	Com	80589M102
—	Golar LNG Partners LP	608,454	$21.13M	0.4%	$36.22	—	Com Unit LPI	Y2745C102
EXC	Exelon Corp	471,600	$16.08M	0.3%	$15.69	-0.4%	Com	30161N101
—	Buckeye Partners L P	182,662	$14.55M	0.3%	$70.16	—	Unit LTD Partn	118230101
—	Oiltanking Partners L P	270,052	$13.39M	0.2%	$52.49	—	Unit Ltd	678049107
—	Natural Resource Partners L	1,015,778	$13.25M	0.2%	$17.97	—	Com Unit L P	63900P103
LNT	Alliant Energy Corp	177,581	$9.84M	0.2%	$19.91	+0.8%	Com	018802108
—	NuStar GP Holdings LLC	206,405	$8.979M	0.2%	$26.73	—	Unit Restg LLC	67059L102
—	CorEnergy Infrastructure TR	1,131,603	$8.464M	0.1%	$6.93	—	Com	21870U205
IDA	Idacorp Inc	154,646	$8.291M	0.1%	$55.21	-0.3%	Com	451107106
—	Nustar Energy LP	125,646	$8.285M	0.1%	$45.65	—	Unit Com	67058H102
DUK	Duke Energy Corp New	107,683	$8.051M	0.1%	$41.77	+9.3%	Com New	26441C204
—	Phillips 66 Partners LP	109,909	$7.336M	0.1%	$33.28	—	COM UNIT REP INT	718549207
NJR	New Jersey Res	116,099	$5.864M	0.1%	$18.05	0.0%	Com	646025106
CPK	Chesapeake Utils Corp	138,808	$5.783M	0.1%	$35.31	+2.5%	Com	165303108
—	Hoegh LNG Parnters L P	171,076	$3.919M	0.1%	$22.91	—	Com Unit Ltd	Y3262R100
—	Piedmont Nat Gas Inc.	50,741	$1.702M	0.0%	$33.54	—	Com	720186105
—	Cone Midstream Partners LP	35,000	$984K	0.0%	$28.11	—	Com Unit Repst	206812109
—	QEP Midstream Partners LP	38,420	$910K	0.0%	$22.64	—	COM UNIT RP LTD	74735R115
—	Enable Midstream Partners LP	20,720	$511K	0.0%	$26.12	—	Com Unit RP In	292480100
—	Kinder Morgan Inc Del	17,139	$62,000	0.0%	$5.13	—	*W EXP 05/25/201	49456B119