Portfolio concentration
As of January 31, 2026 · N-PORT
Holdings
204
Top-10 weight
26.95%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
70
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
625.1
Holdings
As of January 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | DEUTSCHE TELEKOM | — | 3,294,270 | $110.40M | 3.75% |
| 2 | SOFTBANK GROUP CORP | — | 3,780,000 | $104.22M | 3.54% |
| 3 | CANADIAN PACIFIC KANSAS CITY LTD | — | 1,285,200 | $96.07M | 3.26% |
| 4 | CAN NATL RAILWAY | — | 811,755 | $78.52M | 2.67% |
| 5 | VERIZON COMMUNICATIONS INC | — | 1,725,570 | $76.82M | 2.61% |
| 6 | AT&T INC | — | 2,901,150 | $76.04M | 2.58% |
| 7 | NEXTERA ENERGY INC | — | 855,225 | $75.17M | 2.55% |
| 8 | IBERDROLA SA | — | 3,288,848 | $74.05M | 2.52% |
| 9 | DHL GROUP | — | 1,313,550 | $73.95M | 2.51% |
| 10 | WASTE CONNECTIONS INC | — | 366,660 | $61.68M | 2.10% |
| 11 | ENBRIDGE INC | — | 1,187,865 | $58.31M | 1.98% |
| 12 | UNION PACIFIC CORP | — | 242,865 | $57.10M | 1.94% |
| 13 | BHARTI AIRTEL LIMITED | — | 2,619,540 | $56.06M | 1.90% |
| 14 | Treasury Repurchase Agreement | — | 55,892,665 | $55.89M | 1.90% |
| 15 | NTT INC | 9432 | 49,801,500 | $50.01M | 1.70% |
| 16 | NATIONAL GRID PL | — | 2,830,275 | $47.95M | 1.63% |
| 17 | ENEL SPA | — | 4,234,545 | $46.89M | 1.59% |
| 18 | KDDI Corporation | 9433 | 2,709,700 | $45.79M | 1.56% |
| 19 | COMCAST CORP CL A | — | 1,485,540 | $44.19M | 1.50% |
| 20 | TRANSURBAN GROUP | — | 4,479,300 | $43.77M | 1.49% |
| 21 | T-MOBILE US INC | — | 220,185 | $43.42M | 1.48% |
| 22 | EAST JAPAN RAIL | — | 1,606,500 | $40.54M | 1.38% |
| 23 | SOUTHERN CO | — | 449,820 | $40.17M | 1.36% |
| 24 | DUKE ENERGY CORP NEW | — | 318,465 | $38.65M | 1.31% |
| 25 | CENTRAL JAPAN RL | — | 1,378,500 | $38.49M | 1.31% |
| 26 | CONSTELLATION ENERGY CORP | — | 128,520 | $36.07M | 1.23% |
| 27 | VEOLIA ENVIRONNE | — | 957,285 | $36.02M | 1.22% |
| 28 | Other Repurchase Agreement | — | 35,000,000 | $35.00M | 1.19% |
| 29 | AMERICAN TOWER CORP | — | 191,835 | $34.39M | 1.17% |
| 30 | WASTE MANAGEMENT INC | — | 153,090 | $34.02M | 1.16% |
| 31 | WILLIAMS COS INC | — | 502,740 | $33.81M | 1.15% |
| 32 | TC ENERGY CORP | — | 567,945 | $33.49M | 1.14% |
| 33 | EQUINIX INC | — | 40,635 | $33.36M | 1.13% |
| 34 | Fresenius SE & Company KGaA | FRE | 591,570 | $33.22M | 1.13% |
| 35 | AENA SME SA | — | 1,058,400 | $33.03M | 1.12% |
| 36 | HCA HEALTHCARE INC | — | 65,205 | $31.84M | 1.08% |
| 37 | ENGIE | — | 1,015,875 | $30.33M | 1.03% |
| 38 | CSX CORP | — | 766,395 | $28.94M | 0.98% |
| 39 | NORFOLK SOUTHERN CORP | — | 91,665 | $26.70M | 0.91% |
| 40 | AMERICAN ELECTRIC POWER CO INC | — | 220,185 | $26.37M | 0.90% |
| 41 | E.ON SE | — | 1,227,555 | $26.09M | 0.89% |
| 42 | KINDER MORGAN INC | — | 801,360 | $24.43M | 0.83% |
| 43 | INTL CONTAINER TERM SVCS INC COMMON STOCK | ICT | 2,166,290 | $23.62M | 0.80% |
| 44 | SEMPRA ENERGY | — | 268,380 | $23.35M | 0.79% |
| 45 | BCE INC | — | 878,853 | $22.85M | 0.78% |
| 46 | DIGITAL REALTY TRUST INC | — | 131,355 | $21.80M | 0.74% |
| 47 | GFL ENVIRONM-SUB | — | 495,180 | $21.27M | 0.72% |
| 48 | DOMINION ENERGY INC | — | 347,760 | $20.92M | 0.71% |
| 49 | VISTRA CORP | — | 131,355 | $20.80M | 0.71% |
| 50 | ONEOK INC | — | 256,095 | $20.28M | 0.69% |
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