Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EPD	Enterprise Prods Partners L	13,711,222	$351M	9.0%	$43.19	—	Com	293792107
—	Magellan Midstream Prtnrs LP	3,245,781	$220M	5.7%	$59.11	—	Com Unit RP LP	559080106
KMI	Kinder Morgan Inc Del	13,626,243	$203M	5.2%	$21.84	-34.6%	Com	49456B101
—	Spectra Energy Partners LP	4,034,701	$192M	4.9%	$46.94	—	Com	84756N109
—	Transcanada Corp	5,277,545	$172M	4.4%	$42.20	—	Com	89353D107
PAA	Plains All Amern Pipeline L	7,039,499	$163M	4.2%	$45.35	—	Unit Ltd Partn	726503105
—	Enbridge Energy Management L	6,841,588	$153M	3.9%	$30.46	—	Shs Units LLI	29250X103
—	Enbridge Energy Partners L P	6,296,125	$145M	3.7%	$30.75	—	Com	29250R106
—	EQT Midstream Partners LP	1,922,283	$145M	3.7%	$63.68	—	Unit LTD Partn	26885B100
—	Holly Energy Partners L P	4,369,601	$136M	3.5%	$34.41	—	Com Ut Ltd Ptn	435763107
—	TC Pipelines LP	2,475,711	$123M	3.2%	$50.41	—	Ut Com Ltd Prt	87233Q108
NEE	NextEra Energy Inc	906,172	$94.14M	2.4%	$16.93	+15.2%	Com	65339F101
—	Amerigas Partners L P	2,746,815	$94.13M	2.4%	$34.27	—	Unit L P Int	30975106
—	Spectra Energy Corp	3,918,731	$93.81M	2.4%	$36.21	—	Com	847560109
SRE	Sempra Energy	897,067	$84.33M	2.2%	$34.96	+2.5%	Com	816851109
XIFR	NextEra Energy Partners L P	2,823,484	$84.28M	2.2%	$33.65	-22.3%	Com Unit Part In	65341B106
—	Tallgrass Energy Partners LP	1,979,613	$81.58M	2.1%	$43.74	—	Com Unit	874697105
—	Williams Partners L P	2,555,551	$71.17M	1.8%	$48.43	—	Com Unit L P	96949L105
ES	Eversource Energy	1,346,137	$68.75M	1.8%	$36.09	-0.6%	Com	30040W108
PEG	Public SVC Enterprise Group	1,742,952	$67.44M	1.7%	$27.23	+3.5%	Com	744573106
ARLP	Alliance Res Partner L P	4,603,237	$62.1M	1.6%	$52.16	—	Ut Ltd Part	01877R108
UGI	UGI Corp New	1,729,179	$58.38M	1.5%	$28.73	+20.8%	Com	902681105
—	Columbia Pipeline Partners LP	3,298,245	$57.65M	1.5%	$21.00	—	Com UT Repstg	198281107
ENB	ENBRIDGE INC	1,692,016	$56.16M	1.4%	$23.88	-12.5%	Com	29250N105
WMB	Williams Cos Inc Del	2,170,651	$55.79M	1.4%	$22.08	-11.4%	Com	969457100
D	Dominion Res Inc VA New	739,095	$49.99M	1.3%	$36.20	+23.2%	Com	25746U109
—	Targa Resources Partners LP	2,883,171	$47.66M	1.2%	$34.77	—	Com Unit	87611X105
—	National Grid PLC	658,541	$45.8M	1.2%	$60.12	—	SPON ADR NEW	636274300
—	Energy Transfer Prtnrs L P	1,306,431	$44.06M	1.1%	$54.16	—	Unit Ltd Partn	29273R109
—	Atmos Energy Corp	689,297	$43.45M	1.1%	$63.04	—	Com	49560105
—	American Elec Pwr Inc	660,060	$38.46M	1.0%	$58.27	—	Com	25537101
—	Transmontaigne Partners L P	1,404,869	$37.59M	1.0%	$41.59	—	Com Unit L P	89376V100
SPH	Suburban Propane Partners L	1,447,179	$35.18M	0.9%	$45.93	—	Unit Ltd Partn	864482104
WEC	WEC Energy Group Inc	680,558	$34.92M	0.9%	$33.96	+8.3%	Com	92939U106
EXC	Exelon Corp	1,203,794	$33.43M	0.9%	$16.26	-12.8%	Com	30161N101
—	ITC Hldgs Corp	850,901	$33.4M	0.9%	$50.72	—	Com	465685105
NJR	New Jersey Res	988,178	$32.57M	0.8%	$20.24	+8.3%	Com	646025106
ET	Energy Transfer Equity L P	2,337,240	$32.11M	0.8%	$42.34	—	Com Ut Ltd Ptn	29273V100
CMS	CMS Energy Corp	873,685	$31.52M	0.8%	$21.45	+23.1%	Com	125896100
—	Teekay LNG Partners L P	2,123,244	$27.92M	0.7%	$43.90	—	Prtnrsp Units	Y8564M105
—	Scana Corp New	449,049	$27.16M	0.7%	$53.74	—	Com	80589M102
—	Alliance Holdings GP LP	1,323,537	$26.71M	0.7%	$60.84	—	Com Units LP	01861G100
OGS	One Gas Inc.	531,630	$26.67M	0.7%	$37.09	+30.2%	Com	68235P108
—	Infrareit Inc	1,385,051	$25.62M	0.7%	$23.52	—	Com	45685l100
NI	Nisource Inc	1,131,153	$22.07M	0.6%	$9.19	+51.7%	Com	65473P105
OKE	Oneok Inc. New	891,626	$21.99M	0.6%	$25.65	-37.7%	Com	682680103
—	Oneok Partners LP	649,478	$19.57M	0.5%	$51.67	—	Unit Ltd Partn	68268N103
NGL	NGL Energy Partners LP	1,701,191	$18.78M	0.5%	$31.03	—	Com Unit Repst	62913M107
WLKP	Westlake Chem Partners LP	617,779	$13.7M	0.4%	$22.91	—	Com Unit RP LP	960417103
IDA	Idacorp Inc	192,384	$13.08M	0.3%	$57.48	+17.2%	Com	451107106
CPK	Chesapeake Utils Corp	230,365	$13.07M	0.3%	$37.83	+17.2%	Com	165303108
—	Piedmont Nat Gas Inc.	223,154	$12.72M	0.3%	$37.37	—	Com	720186105
SO	Southern Co	245,857	$11.5M	0.3%	$26.60	+11.4%	Com	842587107
—	Alliant Energy Corp	180,632	$11.28M	0.3%	$62.45	—	Com	18802108
MPLX	MPLX LP	132,000	$5.192M	0.1%	$36.81	—	Com Unit Rep Ltd	55336V100
—	CorEnergy Infrastructure TR	341,051	$5.061M	0.1%	$14.84	—	Com	21870U502
—	JPMorgan Chase & Co	164,000	$4.751M	0.1%	$28.97	—	ALERIAN ML ETN	46625H365
XEL	Xcel Energy Inc	111,420	$4.001M	0.1%	$25.31	+2.8%	Com	98389B100
—	Hoegh LNG Parnters L P	138,295	$2.575M	0.1%	$22.01	—	Com Unit Ltd	Y3262R100
—	American Wtr Wks Co Inc NEW	31,520	$1.883M	0.0%	$59.74	—	Com	30420103
—	Aqua America Inc	60,690	$1.809M	0.0%	$26.20	—	Com	03836W103
—	Kinder Morgan Inc Del	40,000	$1.612M	0.0%	$40.30	—	PFD SER A	49456B200
—	Columbia Pipeline Group	42,395	$848K	0.0%	$18.29	—	Com	198280109
—	Natural Resource Partners L	461,689	$586K	0.0%	$14.22	—	Com Unit L P	63900P103
—	Tallgrass Energy GP LP	130	$2,000	0.0%	$32.15	—	SHS CL A	874696107
—	Kinder Morgan Inc Del	15,360	$1,000	0.0%	$5.13	—	*W EXP 05/25/201	49456B119