MIDDLEFIELD GLOBAL REAL ASSET FUND
Summary of Investment Portfolio as at September 30, 2022
 
  Top Twenty-Five Holdings  
    Description % of
Net Asset Value
 
  1. Blackstone Core+Real Estate LP 23.2%  
  2. Topaz Energy Corp. 4.4%  
  3. Boralex Inc. 3.9%  
  4. Aes Corp. 3.9%  
  5. Brookfield Renewable Partners LP 3.8%  
  6. Canadian Apartment Properties Real Estate Investment Trust 3.7%  
  7. Innergex Renewable Energy Inc. 3.7%  
  8. Alexandria Real Estate Equities Inc. 3.4%  
  9. Boardwalk Real Estate Investment Trust 3.3%  
  10. Enbridge Inc. 3.2%  
  11. Summit Industrial Income Real Estate Investment Trust 3.0%  
  12. Granite Real Estate Investment Trust 3.0%  
  13. NextEra Energy, Inc. 2.9%  
  14. Westshore Terminals Investment Corporation 2.8%  
  15. Crown Castle International Corp. 2.8%  
  16. Linde PLC 2.6%  
  17. Cargojet Inc. 2.6%  
  18. Minto Apartment Real Estate Investment Trust 2.5%  
  19. Northland Power Inc. 2.5%  
  20. Prologis Inc. 2.5%  
  21. Enphase Energy Inc. 2.4%  
  22. Ferrovial SA 2.2%  
  23. EDP Energias De Portugal SA 2.1%  
  24. Orsted A/S 2.0%  
  25. H&r Real Estate Investment Trust 1.8%  
    "Top Twenty-Five Holdings" excludes any temporary cash investments  
 
    Asset Class % of
Net Asset Value
 
    Real Estate 49.2%  
    Utilities 27.4%  
    Industrials 7.6%  
    Energy 4.4%  
    Pipelines 3.2%  
    Materials 2.6%  
    Technology 2.4%  
    Cash and Short-Term Investments 12.5%  
    Other Assets (Liabilities) -9.3%  
    100.0%  
    Total Net Asset Value $56,427,529  
    Total Assets $61,955,662  
  The Summary of Investment Portfolio may change due to ongoing portfolio transactions. Updates to this Summary of Investment Portfolio are posted to www.middlefield.com.