Investor: Bruce Flatt
Number of Assets: 94
Reported Holdings: $17,502,164,138
Reporting Period: Q1 - 2025
Return Since Report: -$238,387,880
Return Since Report: -1.36%
Company | Position | Activity | Shares | Port. % | Rep. Price | Curr. Price | Rep. Value | Curr. Value | Return Value | Return % |
|---|---|---|---|---|---|---|---|---|---|---|
| Agree Realty Corp. (ADC) | Equity | -66.88% | 113,606 | 0.05% | $77.19 | $74.73 | $8,769,247 | $8,489,776 | -$279,471 | -3.19% |
| Kinetik Holdings Inc. (KNTK) | Equity | -72.74% | 3,322 | 0.00% | $51.94 | $46.12 | $172,545 | $153,211 | -$19,334 | -11.21% |
| American Electric Power Company Inc. (AEP) | Equity | -17.73% | 37,490 | 0.02% | $109.27 | $102.83 | $4,096,532 | $3,855,097 | -$241,435 | -5.89% |
| American Tower Corp. (AMT) | Equity | +49.97% | 478,559 | 0.59% | $217.60 | $213.39 | $104,134,438 | $102,119,705 | -$2,014,733 | -1.93% |
| American Water Works Company Inc. (AWK) | Equity | +2486.65% | 571,080 | 0.48% | $147.52 | $141.86 | $84,245,722 | $81,013,409 | -$3,232,313 | -3.84% |
| Avalonbay Communities Inc. (AVB) | Equity | +5.58% | 148,961 | 0.18% | $214.62 | $203.96 | $31,970,010 | $30,382,086 | -$1,587,924 | -4.97% |
| Bloom Energy Corp. (BE) | Equity | -7.73% | 49,599 | 0.01% | $19.66 | $20.41 | $975,116 | $1,012,316 | +$37,200 | +3.81% |
| Bxp Inc. (BXP) | Equity | +47.03% | 330,690 | 0.13% | $67.19 | $70.38 | $22,219,061 | $23,273,962 | +$1,054,901 | +4.75% |
| Brixmor Property Group Inc. (BRX) | Equity | -7.47% | 1,145,452 | 0.17% | $26.55 | $25.25 | $30,411,751 | $28,922,663 | -$1,489,088 | -4.90% |
| Brookfield Real Assets Income Fund Inc. (RA) | Equity | 0% | 100,582 | 0.01% | $13.16 | $12.97 | $1,323,654 | $1,304,549 | -$19,105 | -1.44% |
| CMS Energy Corp. (CMS) | Equity | -4.73% | 1,073,538 | 0.46% | $75.11 | $70.92 | $80,633,439 | $76,135,315 | -$4,498,124 | -5.58% |
| Csx Corp. (CSX) | Equity | -42.78% | 765,511 | 0.13% | $29.43 | $31.86 | $22,528,989 | $24,389,180 | +$1,860,191 | +8.26% |
| Camden Property Trust (CPT) | Equity | +100% | 156,068 | 0.11% | $122.30 | $117.70 | $19,087,116 | $18,369,204 | -$717,912 | -3.76% |
| Carrier Global Corp. (CARR) | Equity | -2.85% | 53,356 | 0.02% | $63.40 | $70.80 | $3,382,770 | $3,777,605 | +$394,835 | +11.67% |
| Centerpoint Energy Inc. (CNP) | Equity | -5.20% | 4,910,100 | 1.02% | $36.23 | $37.44 | $177,892,923 | $183,834,144 | +$5,941,221 | +3.34% |
| Cheniere Energy Inc. (LNG) | Equity | -14.69% | 1,658,107 | 2.19% | $231.40 | $244.33 | $383,685,877 | $405,125,283 | +$21,439,406 | +5.59% |
| Clearway Energy Inc. (CWEN) | Equity | -1.33% | 162,734 | 0.03% | $30.27 | $30.84 | $4,925,958 | $5,018,717 | +$92,759 | +1.88% |
| Crown Castle Inc. (CCI) | Equity | +1919.42% | 848,277 | 0.51% | $104.23 | $99.86 | $88,415,912 | $84,708,941 | -$3,706,971 | -4.19% |
| Cubesmart (CUBE) | Equity | +100% | 215,136 | 0.05% | $42.71 | $42.60 | $9,188,459 | $9,164,794 | -$23,665 | -0.26% |
| Curbline Properties Corp. (CURB) | Equity | +100% | 316,727 | 0.04% | $24.19 | $22.88 | $7,661,626 | $7,246,714 | -$414,912 | -5.42% |
| Dt Midstream Inc. (DTM) | Equity | -64.41% | 344,642 | 0.19% | $96.48 | $107.21 | $33,251,069 | $36,949,069 | +$3,698,000 | +11.12% |
| Digital Realty Trust Inc. (DLR) | Equity | -14.70% | 124,348 | 0.10% | $143.29 | $173.74 | $17,817,825 | $21,604,222 | +$3,786,397 | +21.25% |
| Duke Energy Corp. (DUK) | Equity | -7.36% | 728,028 | 0.51% | $121.97 | $116.73 | $88,797,575 | $84,982,708 | -$3,814,867 | -4.30% |
| Eqt Corp. (EQT) | Equity | 0% | 6,769 | 0.00% | $53.43 | $56.65 | $361,668 | $383,464 | +$21,796 | +6.03% |
| Epr Properties | C.Pref | -32.33% | 53,554 | 0.01% | $30.01 | N/A | $1,607,156 | N/A | N/A | N/A |
| Eastgroup Properties Inc. (EGP) | Equity | +2832.18% | 109,429 | 0.11% | $176.15 | $169.63 | $19,275,918 | $18,562,441 | -$713,477 | -3.70% |
| Enbridge Inc. (ENB) | Equity | +1538.45% | 1,350,115 | 0.34% | $44.31 | $47.07 | $59,823,589 | $63,549,913 | +$3,726,324 | +6.23% |
| Energy Transfer Lp (ET) | Equity | +6.37% | 14,626,020 | 1.55% | $18.59 | $17.90 | $271,897,710 | $261,805,758 | -$10,091,952 | -3.71% |
| Entergy Corp. (ETR) | Equity | -33.75% | 1,885,589 | 0.92% | $85.49 | $82.93 | $161,199,004 | $156,371,896 | -$4,827,108 | -2.99% |
| Enterprise Products Partners L.P. (EPD) | Equity | +2.81% | 4,698,769 | 0.92% | $34.14 | $31.48 | $160,415,973 | $147,917,248 | -$12,498,725 | -7.79% |
| Equinix Inc. (EQIX) | Equity | +2.73% | 73,197 | 0.34% | $815.35 | $894.84 | $59,681,174 | $65,499,603 | +$5,818,429 | +9.75% |
| Essential Properties Realty Trust Inc. (EPRT) | Equity | +35.72% | 802,946 | 0.15% | $32.64 | $32.95 | $26,208,157 | $26,457,071 | +$248,914 | +0.95% |
| Extra Space Storage Inc. (EXR) | Equity | -3.76% | 191,136 | 0.16% | $148.49 | $149.93 | $28,381,785 | $28,657,020 | +$275,235 | +0.97% |
| First Solar Inc. (FSLR) | Equity | +5.64% | 17,863 | 0.01% | $126.43 | $159.37 | $2,258,419 | $2,846,826 | +$588,407 | +26.05% |
| GE Vernova Inc. (GEV) | Equity | +0.33% | 10,564 | 0.02% | $305.28 | $492.97 | $3,224,978 | $5,207,735 | +$1,982,757 | +61.48% |
| Getty Realty Corp. (GTY) | Equity | -29.80% | 349,189 | 0.06% | $31.18 | $28.95 | $10,887,713 | $10,109,022 | -$778,691 | -7.15% |
| American Healthcare Reit Inc. (AHR) | Equity | +75.13% | 847,132 | 0.15% | $30.30 | $34.48 | $25,668,100 | $29,209,111 | +$3,541,011 | +13.80% |
| Healthpeak Properties Inc. (DOC) | Equity | -35.33% | 826,908 | 0.10% | $20.22 | $17.25 | $16,720,080 | $14,264,163 | -$2,455,917 | -14.69% |
| Hess Midstream Lp (HESM) | Equity | -32.17% | 861,823 | 0.21% | $42.29 | $38.10 | $36,446,480 | $32,835,456 | -$3,611,024 | -9.91% |
| Highwoods Properties Inc. (HIW) | Equity | +100% | 43,893 | 0.01% | $29.64 | $30.31 | $1,300,989 | $1,330,397 | +$29,408 | +2.26% |
| Iron Mountain Inc. (IRM) | Equity | +26.05% | 14,022 | 0.01% | $86.04 | $99.96 | $1,206,453 | $1,401,639 | +$195,186 | +16.18% |
| Itron Inc. (ITRI) | Equity | -2.85% | 26,910 | 0.02% | $104.76 | $119.50 | $2,819,092 | $3,215,745 | +$396,653 | +14.07% |
| Kimco Realty Corp. (KIM) | Equity | +100% | 12,654 | 0.00% | $60.15 | $21.05 | $761,138 | $266,367 | -$494,771 | -65.00% |
| Kinder Morgan Inc. (KMI) | Equity | -19.73% | 2,077,117 | 0.34% | $28.53 | $28.56 | $59,260,136 | $59,322,462 | +$62,326 | +0.11% |
| Lexington Realty Trust | C.Pref | -33.36% | 27,083 | 0.01% | $45.60 | N/A | $1,234,985 | N/A | N/A | N/A |
| MPLX LP (MPLX) | Equity | -8.41% | 3,866,545 | 1.18% | $53.52 | $51.80 | $206,937,514 | $200,287,031 | -$6,650,483 | -3.21% |
| Nnn Reit Inc. (NNN) | Equity | +100% | 389,456 | 0.09% | $42.65 | $41.56 | $16,610,298 | $16,185,791 | -$424,507 | -2.56% |
| Nexpoint Residential Trust Inc. (NXRT) | Equity | +109.66% | 193,982 | 0.04% | $39.53 | $33.83 | $7,668,108 | $6,562,411 | -$1,105,697 | -14.42% |
| Nisource Inc. (NI) | Equity | -26.53% | 1,847,407 | 0.42% | $40.09 | $39.43 | $74,062,547 | $72,843,258 | -$1,219,289 | -1.65% |
| Oneok Inc. (OKE) | Equity | +119.79% | 1,280,205 | 0.73% | $99.22 | $83.24 | $127,021,935 | $106,564,264 | -$20,457,671 | -16.11% |
| PG&E Corp. (PCG) | Equity | -23.04% | 11,307,104 | 1.11% | $17.18 | $16.54 | $194,256,047 | $187,019,500 | -$7,236,547 | -3.73% |
| TXNM Energy Inc. (TXNM) | Equity | +100% | 1,761,708 | 0.54% | $53.48 | $56.58 | $94,216,144 | $99,677,439 | +$5,461,295 | +5.80% |
| PPL Corp. (PPL) | Equity | +38.16% | 998,207 | 0.21% | $36.11 | $33.79 | $36,045,255 | $33,729,415 | -$2,315,840 | -6.42% |
| Pembina Pipeline Corp. (PBA) | Equity | -69.44% | 4,551 | 0.00% | $40.03 | $37.98 | $182,177 | $172,847 | -$9,330 | -5.12% |
| Plains All American Pipeline L.P. (PAA) | Equity | +50.19% | 5,698,359 | 0.65% | $20.00 | $17.15 | $113,967,186 | $97,726,857 | -$16,240,329 | -14.25% |
| Plains Gp Holdings L.P. (PAGP) | Equity | -64.23% | 24,414 | 0.00% | $21.36 | $18.36 | $521,483 | $448,241 | -$73,242 | -14.04% |
| Plymouth Industrial REIT Inc. (PLYM) | Equity | +100% | 238,902 | 0.02% | $16.30 | $16.22 | $3,894,103 | $3,874,990 | -$19,113 | -0.49% |
| Prologis Inc. (PLD) | Equity | -34.30% | 268,809 | 0.17% | $111.79 | $108.73 | $30,050,158 | $29,227,603 | -$822,555 | -2.74% |
| Public Service Enterprise Group Inc. (PEG) | Equity | -81.28% | 80,931 | 0.04% | $82.30 | $77.59 | $6,660,621 | $6,279,436 | -$381,185 | -5.72% |
| Rlj Lodging Trust | C.Pref | -33.31% | 30,429 | 0.00% | $24.40 | N/A | $742,468 | N/A | N/A | N/A |
| Regency Centers Corp. (REG) | Equity | -43.18% | 185,620 | 0.08% | $73.76 | $71.54 | $13,691,331 | $13,279,255 | -$412,076 | -3.01% |
| Republic Services Inc. (RSG) | Equity | -2.85% | 20,526 | 0.03% | $242.16 | $256.46 | $4,970,576 | $5,264,098 | +$293,522 | +5.91% |
| Rexford Industrial Realty Inc. (REXR) | Equity | -24.46% | 347,889 | 0.08% | $39.15 | $35.61 | $13,619,854 | $12,388,327 | -$1,231,527 | -9.04% |
| Sba Communications Corp. (SBAC) | Equity | +1.79% | 1,008,947 | 1.27% | $220.01 | $229.48 | $221,978,429 | $231,533,158 | +$9,554,729 | +4.30% |
| Simon Property Group Inc. (SPG) | Equity | -8.59% | 165,657 | 0.16% | $166.08 | $161.78 | $27,512,315 | $26,799,989 | -$712,326 | -2.59% |
| Stag Industrial Inc. (STAG) | Equity | -10.56% | 14,003 | 0.00% | $36.12 | $35.32 | $505,788 | $494,586 | -$11,202 | -2.21% |
| Sun Communities Inc. (SUI) | Equity | -13.24% | 59,410 | 0.04% | $128.64 | $123.01 | $7,642,502 | $7,308,024 | -$334,478 | -4.38% |
| Targa Resources Corp. (TRGP) | Equity | -4.99% | 1,170,508 | 1.34% | $200.47 | $161.93 | $234,651,717 | $189,540,360 | -$45,111,357 | -19.22% |
| Union Pacific Corp. (UNP) | Equity | +15.25% | 738,918 | 1.00% | $236.24 | $221.78 | $174,561,988 | $163,877,234 | -$10,684,754 | -6.12% |
| Vici Properties Inc. (VICI) | Equity | +100% | 92,080 | 0.02% | $32.62 | $31.74 | $3,003,650 | $2,922,619 | -$81,031 | -2.70% |
| Waste Management Inc. (WM) | Equity | +25.12% | 20,135 | 0.03% | $231.51 | $240.19 | $4,661,454 | $4,836,226 | +$174,772 | +3.75% |
| Welltower Inc. (WELL) | Equity | +39.07% | 371,317 | 0.33% | $153.21 | $152.20 | $56,889,478 | $56,514,447 | -$375,031 | -0.66% |
| Western Midstream Partners Lp (WES) | Equity | -54.91% | 759,267 | 0.18% | $40.96 | $38.05 | $31,099,590 | $28,890,109 | -$2,209,481 | -7.10% |
| The Williams Companies Inc. (WMB) | Equity | -14.38% | 4,143,456 | 1.41% | $59.76 | $61.11 | $247,612,935 | $253,206,596 | +$5,593,661 | +2.26% |
| Xcel Energy Inc. (XEL) | Equity | +4.50% | 2,928,597 | 1.18% | $70.79 | $69.33 | $207,315,382 | $203,039,630 | -$4,275,752 | -2.06% |
| Xylem Inc. (XYL) | Equity | +26.50% | 16,375 | 0.01% | $119.46 | $127.15 | $1,956,158 | $2,082,081 | +$125,923 | +6.44% |
| Trane Technologies PLC (TT) | Equity | +10.95% | 8,227 | 0.02% | $336.92 | $432.75 | $2,771,841 | $3,560,234 | +$788,393 | +28.44% |
| Golar LNG Limited (GLNG) | Equity | -21.20% | 679,388 | 0.15% | $37.99 | $41.66 | $25,809,945 | $28,303,304 | +$2,493,359 | +9.66% |
| Transalta Corp. (TAC) | Equity | -24.19% | 26,930,439 | 1.44% | $9.35 | $10.39 | $251,799,605 | $279,807,261 | +$28,007,656 | +11.12% |
| Brookfield Corp. (BN) | Equity | 0% | 30,965,748 | 9.27% | $52.41 | $58.19 | $1,622,914,853 | $1,801,896,876 | +$178,982,023 | +11.03% |
| Brookfield Renewable Corp. (BEPC) | Equity | 0% | 10,094,152 | 1.61% | $27.92 | $30.53 | $281,828,724 | $308,174,461 | +$26,345,737 | +9.35% |
| Lamb Weston Holdings Inc. (LW) | Equity | +95.81% | 1,016,266 | 0.31% | $53.30 | $55.67 | $54,166,978 | $56,575,528 | +$2,408,550 | +4.45% |
| Brookfield Business Partners (BBU) | Equity | +72.45% | 44,152,007 | 5.92% | $23.46 | $25.27 | $1,035,806,084 | $1,115,721,217 | +$79,915,133 | +7.72% |
| Brookfield Infrastructure Part (BIP) | Equity | +3.51% | 4,686,497 | 0.80% | $29.79 | $33.34 | $139,610,746 | $156,247,810 | +$16,637,064 | +11.92% |
| Brookfield Renewable Partners (BEP) | Equity | 0% | 74,339,049 | 9.41% | $22.16 | $24.64 | $1,647,353,326 | $1,831,714,167 | +$184,360,841 | +11.19% |
| Nike Inc. (NKE) | Equity | +36.19% | 658,598 | 0.24% | $63.48 | $62.37 | $41,807,801 | $41,076,757 | -$731,044 | -1.75% |
| Cheniere Energy Partners L.P. (CQP) | Equity | 0% | 101,620,376 | 38.34% | $66.04 | $58.42 | $6,711,009,631 | $5,936,662,366 | -$774,347,265 | -11.54% |
| XPLR Infrastructure LP (XIFR) | Equity | 0% | 2,180,320 | 0.12% | $9.50 | $8.85 | $20,713,040 | $19,295,832 | -$1,417,208 | -6.84% |
| South Bow Corp. (SOBO.TO) | Equity | -13.45% | 746,077 | 0.11% | $25.52 | $35.18 | $19,039,885 | $26,246,989 | +$7,207,104 | +37.85% |
| Civitas Resources Inc. (CIVI) | Equity | 0% | 22,080 | 0.00% | $34.89 | $28.51 | $770,371 | $629,501 | -$140,870 | -18.29% |
| Metlife Inc. (MET) | Equity | 0% | 4,133 | 0.00% | $80.29 | $79.32 | $331,839 | $327,830 | -$4,009 | -1.21% |
| Par Pacific Holdings Inc. (PARR) | Equity | 0% | 61,069 | 0.00% | $14.26 | $21.85 | $870,844 | $1,334,358 | +$463,514 | +53.23% |
| Brookfield Business Corp. (BBUC) | Equity | 0% | 47,244,876 | 7.19% | $26.62 | $28.91 | $1,257,658,599 | $1,365,849,365 | +$108,190,766 | +8.60% |
| Brookfield Wealth Solutions Ltd. (BNT) | Equity | -27.13% | 903,843 | 0.27% | $52.18 | $58.80 | $47,162,528 | $53,145,968 | +$5,983,440 | +12.69% |