# Portfolio overlap — IPAV vs MGIFX

Comparing **Global X Infrastructure Development ex-U.S. ETF** (2026-02-28) and **Mondrian Global Listed Infrastructure Fund** (2026-01-31).

- Shared positions: 5
- Global X Infrastructure Development ex-U.S. ETF covered by Mondrian Global Listed Infrastructure Fund: 0.1246675116448302222049798580
- Mondrian Global Listed Infrastructure Fund covered by Global X Infrastructure Development ex-U.S. ETF: 0.1246675116448302222049798580

## Global X Infrastructure Development ex-U.S. ETF — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| ARCELORMITTAL | 0.040621 |  |
| KOMATSU LTD | 0.036302 |  |
| SHIN-ETSU CHEM | 0.033798 |  |
| POSCO HOLDINGS I | 0.031939 |  |
| CELLNEX TELECOM | 0.031779 | ✓ |
| PRYSMIAN SPA | 0.031606 |  |
| CANADIAN PACIFIC KANSAS CITY LTD | 0.030985 |  |
| Epiroc Aktiebolag | 0.030676 |  |
| VINCI SA | 0.030148 | ✓ |
| CEMEX SAB-SP ADR | 0.029819 |  |
| TATA STEEL LTD | 0.029416 |  |
| FERROVIAL SE | 0.029378 |  |
| CAN NATL RAILWAY | 0.029374 | ✓ |
| HOLCIM LTD | 0.025938 |  |
| ULTRATECH CEMENT | 0.025869 |  |
| LARSEN and TOUBRO LTD | 0.025551 |  |
| NIPPON STEEL COR | 0.025438 |  |
| EIFFAGE | 0.024989 | ✓ |
| HEIDELBERG MATERIALS AG COMMON STOCK | 0.022794 |  |
| JSW STEEL LTD /INR/ 0.00000000 | 0.021328 |  |
| ATKINSREALIS GRO | 0.018833 |  |
| BLUESCOPE STEEL | 0.014329 |  |
| LS ELECTRIC CO L | 0.013502 |  |
| JFE HOLDINGS INC | 0.012546 |  |
| NKT A/S | 0.011377 |  |
| ACCIONA SA | 0.011217 |  |
| China Tower Corporation Limited | 0.010696 |  |
| INDUS TOWERS LTD | 0.010188 |  |
| POLYCAB INDIA LT | 0.010058 |  |
| TCC | 0.009485 |  |
| VOESTALPINE AG | 0.009426 |  |
| NEXANS SA | 0.008723 |  |
| JINDAL STL N POWER INR 5DM  /INR/ INE749A01030 0.00000000 | 0.008723 |  |
| SAIPEM SPA | 0.008699 |  |
| GERDAU SA -SPON ADR DEPOSITARY RECEIPT | 0.008422 |  |
| AURIZON HOLDINGS | 0.008378 | ✓ |
| SSAB-B | 0.008318 |  |
| BALFOUR BEATTY | 0.008045 |  |
| AMBUJA CEMENTS | 0.007273 |  |
| GAMUDA BHD | 0.007259 |  |
| BUZZI UNICEM SPA | 0.007051 |  |
| SAMSUNG ENGINEER | 0.006487 |  |
| AALBERTS NV COMMON STOCK | 0.006349 |  |
| HITACHI CONST MA | 0.006126 |  |
| CONCH CEMENT-H | 0.006003 |  |
| KEI INDUS LTD | 0.005626 |  |
| COMSYS HOLDINGS | 0.005424 |  |
| EXEO GROUP INC | 0.005208 |  |
| PENTA-OCEAN CONS | 0.005190 |  |
| CHINA NATL BDG-H | 0.005124 |  |

## Mondrian Global Listed Infrastructure Fund — top positions

| Security | Weight | Shared |
|----------|--------|--------|
| PROLOGIS INC REIT | 0.046094 |  |
| AMERICAN TOWER CORP | 0.045116 |  |
| VEOLIA ENVIRONNE | 0.043208 |  |
| EIFFAGE | 0.042637 | ✓ |
| PROMOTORA Y OPER | 0.042602 |  |
| JAPAN AIR TERMIN | 0.042078 |  |
| CSX CORP | 0.041654 |  |
| SOUTH BOW CORP | 0.041608 |  |
| CELLNEX TELECOM | 0.041299 | ✓ |
| VINCI SA | 0.041278 | ✓ |
| CAN NATL RAILWAY | 0.040662 | ✓ |
| REDEIA CORP SA COMMON STOCK | 0.038522 |  |
| AURIZON HOLDINGS | 0.037681 | ✓ |
| ENEL SPA | 0.036379 |  |
| ENAV SPA | 0.035643 |  |
| JIANGSU EXPRES-H | 0.035435 |  |
| GUANGDONG INVESTMENTS LTD | 0.035419 |  |
| EVERSOURCE ENERGY | 0.034850 |  |
| ENEL AMERICAS SA | 0.033944 |  |
| EDP SA | 0.033795 |  |
| UNION PACIFIC CORP | 0.032837 |  |
| SSE PLC | 0.031860 |  |
| EDISON INTL | 0.031600 |  |
| HCA HEALTHCARE INC | 0.030420 |  |
| SNAM SPA | 0.030063 |  |
| NISOURCE INC | 0.029109 |  |
| E.ON SE | 0.023967 |  |
| GUANGDONG LAND H | 0.000241 |  |


## Sources

- N-PORT (fund A) — accession `0002048251-26-003660` (as of 2026-02-28)
  <https://www.sec.gov/Archives/edgar/data/1432353/000204825126003660/0002048251-26-003660-index.htm>
- N-PORT (fund B) — accession `0002048251-26-002802` (as of 2026-01-31)
  <https://www.sec.gov/Archives/edgar/data/1651872/000204825126002802/0002048251-26-002802-index.htm>

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