# EDGAR Filing Document

**Accession Number:** 0001014913
**File Stem:** 0000894189-25-015772
**Filing Date:** 2025-11
**Character Count:** 52023
**Document Hash:** 10fd6884923e08aa324f9675cda90299
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-015772.hdr.sgml**: 20251126

**ACCESSION NUMBER**: 0000894189-25-015772

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251126

**DATE AS OF CHANGE**: 20251126

**PERIOD START**: 20260630

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** MFG FUNDS, INC.
- **CENTRAL INDEX KEY:** 0001014913

**ORGANIZATION NAME:**
- **EIN:** 364104131
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0630

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-07685
- **FILM NUMBER:** 251527520

**BUSINESS ADDRESS:**
- **STREET 1:** 999 OAKMONT PLAZA DRIVE
- **STREET 2:** SUITE 600
- **CITY:** WESTMONT
- **STATE:** IL
- **ZIP:** 60559
- **BUSINESS PHONE:** 1-888-825-2100

**MAIL ADDRESS:**
- **STREET 1:** 999 OAKMONT PLAZA DRIVE
- **STREET 2:** SUITE 600
- **CITY:** WESTMONT
- **STATE:** IL
- **ZIP:** 60559

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRONTIER FUNDS, INC.
- **DATE OF NAME CHANGE:** 20141031

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** FRONTEGRA FUNDS INC
- **DATE OF NAME CHANGE:** 19960520

## Series and Classes Contracts Data

### MFG Core Infrastructure Fund (Series ID: S000035417)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000108790 | Institutional Class | FMGIX           |
| C000167328 | Service Class       | FCIVX           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **Frontier MFG Global Sustainable Fund** | **Frontier MFG Global Sustainable Fund** | **Frontier MFG Global Sustainable Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 95.1%** | **Shares** | **Value**  |
| **Germany - 5.7%** | **Germany - 5.7%** | |
| adidas AG | 3237 | $685862 |
| SAP SE | 4384 | 1173895 |
|  |  | 1859757 |
| **Hong Kong - 3.2%** | **Hong Kong - 3.2%** |  |
| AIA Group Ltd. | 107768 | 1032845 |
| **Netherlands - 4.5%** | **Netherlands - 4.5%** |  |
| ASML Holding NV | 669 | 652402 |
| Universal Music Group NV | 28711 | 829677 |
|  |  | 1482079 |
| **Spain - 1.9%** | **Spain - 1.9%** |  |
| Aena SME SA <sup>(a)</sup> | 23374 | 639031 |
| **Switzerland - 6.0%** | **Switzerland - 6.0%** |  |
| Nestle SA | 21253 | 1951774 |
| **Taiwan, Province of China - 5.6%** | **Taiwan, Province of China - 5.6%** |  |
| Taiwan Semiconductor Manufacturing Co. Ltd. - ADR | 6530 | 1823764 |
| **United Kingdom - 6.0%** | **United Kingdom - 6.0%** |  |
| Reckitt Benckiser Group PLC | 17056 | 1313346 |
| Unilever PLC | 10692 | 635069 |
|  |  | 1948415 |
| **United States - 62.2%<sup>(a)</sup>** | **United States - 62.2%<sup>(a)</sup>** |  |
| Alphabet, Inc. - Class C | 4528 | 1102794 |
| Amazon.com, Inc. <sup>(b)</sup> | 10950 | 2404292 |
| American Tower Corp. | 5008 | 963139 |
| Booking Holdings, Inc. | 171 | 923275 |
| Dollar General Corp. | 10875 | 1123931 |
| Eversource Energy | 18397 | 1308763 |
| Intercontinental Exchange, Inc. | 5793 | 976005 |
| Mastercard, Inc. - Class A | 2683 | 1526117 |
| Meta Platforms, Inc. - Class A | 1727 | 1268274 |
| Microsoft Corp. | 5056 | 2618755 |
| Mondelez International, Inc. - Class A | 10385 | 648751 |
| Thermo Fisher Scientific, Inc. | 1363 | 661082 |
| U.S. Bancorp | 19672 | 950748 |
| UnitedHealth Group, Inc. | 3268 | 1128440 |
| Visa, Inc. - Class A | 1907 | 651012 |
| Yum! Brands, Inc. | 7375 | 1121000 |
| Zimmer Biomet Holdings, Inc. | 9678 | 953283 |
|  |  | 20329661 |
| **TOTAL COMMON STOCKS** (Cost $21,104,686) | **TOTAL COMMON STOCKS** (Cost $21,104,686) | 31067326 |
| **TOTAL INVESTMENTS - 95.1% (**Cost $21,104,686**)** | **TOTAL INVESTMENTS - 95.1% (**Cost $21,104,686**)** | 31067326 |
| Money Market Deposit Account - 4.2% <sup>(c)</sup> | Money Market Deposit Account - 4.2% <sup>(c)</sup> | 1367046 |
| Other Assets in Excess of Liabilities - 0.7% | Other Assets in Excess of Liabilities - 0.7% | 221973 |
| **TOTAL NET ASSETS - 100.0%** |  | $32656345 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

(a) To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions
 affecting such country or region.

(b) Non-income producing security.

(c) The U.S. Bank Money Market Deposit Account (the "MMDA") is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based on
 market conditions and is subject to change daily. The rate as of September 30, 2025 was 3.06%.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $22153425 | $8913901 | $– | $31067326 |
| Total Investments | $22153425 | $8913901 | $– | $31067326 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

------

---

| | | |
|:---|:---|:---|
| **Frontier MFG Core Infrastructure Fund** | **Frontier MFG Core Infrastructure Fund** | **Frontier MFG Core Infrastructure Fund** |
| **Schedule of Investments** | **Schedule of Investments** | **Schedule of Investments** |
| **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** | **September 30, 2025 (Unaudited)** |
| **COMMON STOCKS - 96.5%** | **Shares** | **Value**  |
| **Australia - 4.2%** | **Australia - 4.2%** | |
| APA Group | 223504 | $1312112 |
| Atlas Arteria Ltd. | 236905 | 769326 |
| Transurban Group | 462892 | 4223357 |
|  |  | 6304795 |
| **Belgium - 1.4%** | **Belgium - 1.4%** |  |
| Elia Group SA/NV | 18260 | 2109603 |
| **Canada - 14.8%** | **Canada - 14.8%** |  |
| Algonquin Power & Utilities Corp. | 110368 | 593197 |
| Brookfield Renewable Corp. | 20500 | 705723 |
| Canadian Utilities Ltd. - Class A | 31075 | 869261 |
| Emera, Inc. | 48083 | 2306892 |
| Enbridge, Inc. | 90274 | 4554241 |
| Fortis, Inc. | 80918 | 4104334 |
| Hydro One Ltd. <sup>(a)</sup> | 96371 | 3438112 |
| South Bow Corp. | 32304 | 914085 |
| TC Energy Corp. | 83743 | 4553304 |
|  |  | 22039149 |
| **Chile - 0.3%** | **Chile - 0.3%** |  |
| Aguas Andinas SA - Class A | 1107574 | 420678 |
| **France - 5.6%** | **France - 5.6%** |  |
| Aeroports de Paris SA | 15978 | 2116763 |
| Getlink SE | 93505 | 1724186 |
| Vinci SA | 32623 | 4533696 |
|  |  | 8374645 |
| **Germany - 0.9%** | **Germany - 0.9%** |  |
| Fraport AG Frankfurt Airport Services Worldwide <sup>(a)</sup> | 14936 | 1292596 |
| **Italy - 6.4%** | **Italy - 6.4%** |  |
| ACEA SpA | 36135 | 871397 |
| Enav SpA <sup>(a)</sup> | 88516 | 449895 |
| Italgas SpA | 171647 | 1581183 |
| Snam SpA | 554968 | 3332166 |
| Terna - Rete Elettrica Nazionale | 330529 | 3354380 |
|  |  | 9589021 |
| **Mexico - 3.2%** | **Mexico - 3.2%** |  |
| Grupo Aeroportuario del Centro Norte SAB de CV | 57069 | 736582 |
| Grupo Aeroportuario del Pacifico SAB de CV - Class B | 70035 | 1649466 |
| Grupo Aeroportuario del Sureste SAB de CV - Class B | 46620 | 1505734 |
| Promotora y Operadora de Infraestructura SAB de CV | 66137 | 905301 |
|  |  | 4797083 |
| **Netherlands - 0.7%** | **Netherlands - 0.7%** |  |
| Koninklijke Vopak NV | 21220 | 973952 |
| **New Zealand - 1.4%** | **New Zealand - 1.4%** |  |
| Auckland International Airport Ltd. | 289267 | 1322245 |
| Chorus Ltd. | 70180 | 388967 |
| Vector Ltd. | 164315 | 455407 |
|  |  | 2166619 |
| **Portugal - 0.3%** | **Portugal - 0.3%** |  |
| REN - Redes Energeticas Nacionais SGPS SA | 116835 | 420022 |
| **Spain - 10.3%** | **Spain - 10.3%** |  |
| Aena SME SA <sup>(a)</sup> | 152873 | 4179455 |
| Cellnex Telecom SA <sup>(a)</sup> | 118252 | 4095955 |
| Enagas SA | 46755 | 730492 |
| Ferrovial SE | 81007 | 4653076 |
| Redeia Corp. SA | 91189 | 1760654 |
|  |  | 15419632 |
| **Switzerland - 1.1%** | **Switzerland - 1.1%** |  |
| Flughafen Zurich AG | 5129 | 1570444 |
| **United Kingdom - 5.7%** | **United Kingdom - 5.7%** |  |
| National Grid PLC | 309539 | 4447662 |
| Pennon Group PLC | 79280 | 500121 |
| Severn Trent PLC | 50643 | 1765747 |
| United Utilities Group PLC | 114777 | 1773156 |
|  |  | 8486686 |
| **United States - 40.2%<sup>(b)</sup>** | **United States - 40.2%<sup>(b)</sup>** |  |
| ALLETE, Inc. | 3289 | 218390 |
| Alliant Energy Corp. | 14761 | 995039 |
| Ameren Corp. | 15532 | 1621230 |
| American Electric Power Co., Inc. | 25860 | 2909250 |
| American States Water Co. | 1774 | 130070 |
| American Tower Corp. | 14115 | 2714597 |
| American Water Works Co., Inc. | 11022 | 1534152 |
| Atmos Energy Corp. | 8973 | 1532140 |
| Avista Corp. | 4778 | 180656 |
| Black Hills Corp. | 4021 | 247653 |
| California Water Service Group | 2780 | 127574 |
| CenterPoint Energy, Inc. | 36876 | 1430789 |
| Chesapeake Utilities Corp. | 872 | 117450 |
| CMS Energy Corp. | 16100 | 1179486 |
| Consolidated Edison, Inc. | 20354 | 2045984 |
| Crown Castle, Inc. | 24603 | 2373943 |
| Dominion Energy, Inc. | 48180 | 2947171 |
| DTE Energy Co. | 11724 | 1658125 |
| Duke Energy Corp. | 24184 | 2992770 |
| Entergy Corp. | 25852 | 2409148 |
| Essential Utilities, Inc. | 16107 | 642669 |
| Evergy, Inc. | 13201 | 1003540 |
| Eversource Energy | 20756 | 1476582 |
| Exelon Corp. | 56727 | 2553282 |
| FirstEnergy Corp. | 34274 | 1570435 |
| H2O America | 2715 | 132220 |
| IDACORP, Inc. | 3129 | 413497 |
| MGE Energy, Inc. | 2060 | 173411 |
| Middlesex Water Co. | 1181 | 63916 |
| NextEra Energy, Inc. | 41173 | 3108150 |
| NiSource, Inc. | 24837 | 1075442 |
| Northwest Natural Holding Co. | 1850 | 83120 |
| Northwestern Energy Group, Inc. | 3184 | 186614 |
| OGE Energy Corp. | 10058 | 465384 |
| ONE Gas, Inc. | 3054 | 247191 |
| Pinnacle West Capital Corp. | 6769 | 606909 |
| Portland General Electric Co. | 5913 | 260172 |
| PPL Corp. | 41539 | 1543589 |
| Public Service Enterprise Group, Inc. | 28038 | 2340051 |
| SBA Communications Corp. | 6070 | 1173634 |
| Sempra | 35820 | 3223084 |
| Spire, Inc. | 3329 | 271380 |
| The Southern Co. | 32649 | 3094146 |
| TXNM Energy, Inc. | 4945 | 279640 |
| WEC Energy Group, Inc. | 17932 | 2054828 |
| Xcel Energy, Inc. | 32408 | 2613705 |
|  |  | 60022208 |
| **TOTAL COMMON STOCKS** (Cost $105,529,135) | **TOTAL COMMON STOCKS** (Cost $105,529,135) | 143987133 |
| **CLOSED-END FUNDS - 1.1%** | **Shares** | **Value**  |
| **Republic of Korea - 0.4%** | **Republic of Korea - 0.4%** |  |
| Macquarie Korea Infrastructure Fund | 75460 | 619191 |
| **United Kingdom - 0.7%** | **United Kingdom - 0.7%** |  |
| HICL Infrastructure PLC | 336553 | 557688 |
| International Public Partnerships Ltd. | 316036 | 533492 |
|  |  | 1091180 |
| **TOTAL CLOSED-END FUNDS** (Cost $1,712,010) | **TOTAL CLOSED-END FUNDS** (Cost $1,712,010) | 1710371 |
| **TOTAL INVESTMENTS - 97.6% (**Cost $107,241,145**)** | **TOTAL INVESTMENTS - 97.6% (**Cost $107,241,145**)** | 145697504 |
| Money Market Deposit Account - 1.9% <sup>(c)</sup> | Money Market Deposit Account - 1.9% <sup>(c)</sup> | 2858033 |
| Other Assets in Excess of Liabilities - 0.5% | Other Assets in Excess of Liabilities - 0.5% | 711201 |
| **TOTAL NET ASSETS - 100.0%** |  | $149266738 |
| Percentages are stated as a percent of net assets. | Percentages are stated as a percent of net assets. |  |

---

(a) Non-income producing security.

(b) To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions
 affecting such country or region.

(c) The U.S. Bank Money Market Deposit Account (the "MMDA") is a short-term vehicle in which the Fund holds cash balances. The MMDA will bear interest at a variable rate that is determined based
 on market conditions and is subject to change daily. The rate as of September 30, 2025 was 3.06%.

---

| | | | | |
|:---|:---|:---|:---|:---|
|  | **<u>Level 1</u>** | **<u>Level 2</u>** | **<u>Level 3</u>** | **<u>Total</u>** |
| <u>Investments:</u> |  |  |  |  |
|  &nbsp;&nbsp;&nbsp;&nbsp;Common Stocks | $87247407 | $56739726 | $– | $143987133 |
|  &nbsp;&nbsp;&nbsp;&nbsp;Closed-End Funds | – | 1710371 | – | 1710371 |
| Total Investments | $87247407 | $58450097 | $– | $145697504 |
| Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. | Refer to the Schedule of Investments for further disaggregation of investment categories. |

---

------

*Investment Valuation* – Securities are valued at their fair value. Equity securities that are traded on a national securities exchange, except for those traded on NASDAQ Global Market, NASDAQ Global Select Market and NASDAQ Capital Market exchanges (together, "NASDAQ"), for which market quotations are readily available are valued at the last reported sale price on the national securities exchange on which such securities are principally traded. Equity securities that are traded on NASDAQ are valued using the NASDAQ Official Closing Price ("NOCP"). Equity securities for which there were no transactions on a given day or securities not listed on a national securities exchange are valued at the most recent quoted bid price. Debt securities are valued at the bid price provided by an independent pricing service, which uses valuation methods such as matrix pricing and other analytical pricing models, as well as market transactions and other market inputs. Shares of underlying mutual funds are valued at their respective Net Asset Value ("NAV"). Deposit accounts are valued at acquisition cost, which approximates fair value. Exchange traded funds and closed-end funds are valued at the last reported sale price on the exchange on which the security is principally traded. Securities that are primarily traded on foreign exchanges generally are valued at the last sale price of such securities on their respective exchange. In the case of foreign securities, the occurrence of events after the close of the foreign markets, but prior to the time a Fund's NAV is calculated, will result in a systematic fair value adjustment to the trading prices of foreign securities provided that there is a movement in the markets that exceeds a predetermined threshold and provided the fair value prices exceed a pre-established confidence level. The Funds will also value foreign securities at fair value in accordance with the Adviser's fair valuation procedures in the case of other significant events relating to a particular foreign issuer or market. In such cases, use of fair valuation can reduce an investor's ability to seek to profit by estimating the Fund's NAV in advance of the time the NAV is calculated. The Company has retained an independent fair value pricing service to assist in valuing foreign securities held by the Funds. In valuing assets, prices denominated in foreign currencies are converted to U.S. dollar equivalents at the current exchange rate, which approximates fair value. Any securities or other assets for which market quotations are not readily available are valued at their fair value as determined in good faith by the Adviser as "valuation designee" of the Board of Directors (the "Board") pursuant to policies and procedures adopted pursuant to Rule 2a-5 under the Investment Company Act of 1940, as amended. The Adviser uses its Valuation Committee to make any required fair value determinations.

The Funds follow a fair value hierarchy that distinguishes between market data obtained from independent sources (observable inputs) and the Funds' own market assumptions (unobservable inputs). These inputs are used in determining the value of each Fund's investments and are summarized in the following fair value hierarchy:

Level 1 — Quoted prices in active markets for identical securities that the Funds have the ability to access

Level 2 — Evaluated prices based on other significant observable inputs (including quoted prices for similar securities, foreign security indices, foreign exchange rates, fair value estimates for foreign securities and changes in benchmark securities indices)

Level 3 — Significant unobservable inputs (including the Fund's own assumptions in determining fair value of investments)

*Tax Disclosure* - Each Fund intends to continue to comply with the requirements of Subchapter M of the Internal Revenue Code of 1986, as amended, necessary to qualify as a regulated investment company and to make the requisite distributions of income and capital gains to its shareholders sufficient to relieve it from all or substantially all federal income taxes. Therefore, no federal income tax provision has been provided.

The Funds have adopted financial reporting rules regarding recognition and measurement of tax positions taken or expected to be taken on a tax return. The Funds recognize interest and penalties, if any, related to unrecognized tax benefits as income tax expense on the Statements of Operations as incurred. During the period, the Funds did not incur any interest or penalties. The Funds have reviewed all open tax years and concluded that there is no effect to any of the Fund's financial positions or results of operations and no tax liability resulting from unrecognized tax benefits relating to uncertain income tax positions taken or expected to be taken on a tax return. The Funds have no examinations in progress.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Frontier Funds, Inc.

- **b. Investment Company Act file number:** 811-07685

- **c. CIK number of Registrant:** 0001014913

- **d. LEI of Registrant:** 549300TMAADQMXZCXG08

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 999 Oakmont Plaza Drive

  - **City:** Westmont

  - **State:** IL

  - **Foreign country:** US

  - **Zip / Postal Code:** 60559

  - **Telephone number:** 847-509-9860

**Item A.2. Information about the Series.**

- **a. Name of Series:** Frontier MFG Core Infrastructure Fund

- **b. EDGAR series identifier (if any):** S000035417

- **c. LEI of Series:** 54930024JUVLTGGBLV83

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-06-30

- **b. Date as of which information is reported:** 2025-09-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $149457955.04

**Total Liabilities:** $746897.20

**Net Assets:** $148711057.84

**Cash Not Reported:** $344349.14

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000108790 | -0.12%               | 1.90%                | 1.44%                |
| Class ID C000167328 | -0.06%               | 1.84%                | 1.47%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $642094.04               | $-772194.66                                |
| Month 2  | $98842.88                | $1592846.16                                |
| Month 3  | $266381.19               | $2179052.87                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                                   | Title                                              | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| PINFRA                                 | Promotora y Operadora de Infraestructura SAB de CV | CUSIP: P7925L103<br>LEI: 52990035X6RK8DBUWA73 | Long             | EC               | CORP              | MX        |     66137 | NS      | $905300.63    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Emera Inc                              | Emera Inc                                          | CUSIP: 290876101<br>LEI: NQZVQT2P5IUF2PGA1Q48 | Long             | EC               | CORP              | CA        |     48083 | NS      | $2306892.23   | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| NextEra Energy Inc                     | NextEra Energy Inc                                 | CUSIP: 65339F101<br>LEI: 254900RHL9MEUS5NKX63 | Long             | EC               | CORP              | US        |     41173 | NS      | $3108149.77   | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Pinnacle West Capital Corp             | Pinnacle West Capital Corp                         | CUSIP: 723484101<br>LEI: TWSEY0NEDUDCKS27AH81 | Long             | EC               | CORP              | US        |      6769 | NS      | $606908.54    | 0.41%             |  |  |  | No            |                  1 | On Loan: No      |
| Sempra                                 | Sempra                                             | CUSIP: 816851109<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | EC               | CORP              | US        |     35820 | NS      | $3223083.60   | 2.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Italgas SpA                            | Italgas SpA                                        | CUSIP: N/A<br>LEI: 815600F25FF44EF1FA76       | Long             | EC               | CORP              | IT        |    171647 | NS      | $1581183.35   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| South Bow Corp                         | South Bow Corp                                     | CUSIP: 83671M105<br>LEI: 2549000XS5TAFA3YF943 | Long             | EC               | CORP              | CA        |     32304 | NS      | $914084.59    | 0.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp                    | Alliant Energy Corp                                | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |     14761 | NS      | $995039.01    | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| American Water Works Co Inc            | American Water Works Co Inc                        | CUSIP: 030420103<br>LEI: 549300DXHIJQMD5WFW18 | Long             | EC               | CORP              | US        |     11022 | NS      | $1534152.18   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Avista Corp                            | Avista Corp                                        | CUSIP: 05379B107<br>LEI: Q0IK63NITJD6RJ47SW96 | Long             | EC               | CORP              | US        |      4778 | NS      | $180656.18    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| IDACORP Inc                            | IDACORP Inc                                        | CUSIP: 451107106<br>LEI: N134NUJDWN8UEFA8B673 | Long             | EC               | CORP              | US        |      3129 | NS      | $413497.35    | 0.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Middlesex Water Co                     | Middlesex Water Co                                 | CUSIP: 596680108<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      1181 | NS      | $63915.72     | 0.04%             |  |  |  | No            |                  1 | On Loan: No      |
| PPL Corp                               | PPL Corp                                           | CUSIP: 69351T106<br>LEI: 9N3UAJSNOUXFKQLF3V18 | Long             | EC               | CORP              | US        |     41539 | NS      | $1543589.24   | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Pacifi         | Grupo Aeroportuario del Pacifico SAB de CV         | CUSIP: P4959P100<br>LEI: 4469000001BZ368XFI90 | Long             | EC               | CORP              | MX        |     70035 | NS      | $1649466.03   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Severn Trent PLC                       | Severn Trent PLC                                   | CUSIP: N/A<br>LEI: 213800RPBXRETY4A4C59       | Long             | EC               | CORP              | GB        |     50643 | NS      | $1765747.08   | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| Brookfield Renewable Corp              | Brookfield Renewable Corp                          | CUSIP: 11285B108<br>LEI: 894500N9AWD5I1YNP231 | Long             | EC               | CORP              | US        |     20500 | NS      | $705723.22    | 0.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Fortis Inc/Canada                      | Fortis Inc/Canada                                  | CUSIP: 349553107<br>LEI: 549300MQYQ9Y065XPR71 | Long             | EC               | CORP              | CA        |     80918 | NS      | $4104333.99   | 2.76%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstEnergy Corp                       | FirstEnergy Corp                                   | CUSIP: 337932107<br>LEI: 549300SVYJS666PQJH88 | Long             | EC               | CORP              | US        |     34274 | NS      | $1570434.68   | 1.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Fraport AG Frankfurt Airport S         | Fraport AG Frankfurt Airport Services Worldwide    | CUSIP: N/A<br>LEI: 5299001ERX0K10IZUL40       | Long             | EC               | CORP              | DE        |     14936 | NS      | $1292595.95   | 0.87%             |  |  |  | No            |                  2 | On Loan: No      |
| WEC Energy Group Inc                   | WEC Energy Group Inc                               | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |     17932 | NS      | $2054827.88   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Aeroports de Paris SA                  | Aeroports de Paris SA                              | CUSIP: N/A<br>LEI: 969500PJMBSFHYC37989       | Long             | EC               | CORP              | FR        |     15978 | NS      | $2116763.49   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Aena SME SA                            | Aena SME SA                                        | CUSIP: N/A<br>LEI: 959800R7QMXKF0NFMT29       | Long             | EC               | CORP              | ES        |    152873 | NS      | $4179455.21   | 2.81%             |  |  |  | No            |                  2 | On Loan: No      |
| CMS Energy Corp                        | CMS Energy Corp                                    | CUSIP: 125896100<br>LEI: 549300IA9XFBAGNIBW29 | Long             | EC               | CORP              | US        |     16100 | NS      | $1179486.00   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Crown Castle Inc                       | Crown Castle Inc                                   | CUSIP: 22822V101<br>LEI: 54930012H97VSM0I2R19 | Long             | EC               | CORP              | US        |     24603 | NS      | $2373943.47   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Essential Utilities Inc                | Essential Utilities Inc                            | CUSIP: 29670G102<br>LEI: 549300ILTEOF3E3QY357 | Long             | EC               | CORP              | US        |     16107 | NS      | $642669.30    | 0.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Evergy Inc                             | Evergy Inc                                         | CUSIP: 30034W106<br>LEI: 549300PGTHDQY6PSUI61 | Long             | EC               | CORP              | US        |     13201 | NS      | $1003540.02   | 0.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Chorus Ltd                             | Chorus Ltd                                         | CUSIP: N/A<br>LEI: R7NJHU48LTCIOB9BVU57       | Long             | EC               | CORP              | NZ        |     70180 | NS      | $388966.65    | 0.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Auckland International Airport         | Auckland International Airport Ltd                 | CUSIP: N/A<br>LEI: 549300HFZIZDJWB7AK60       | Long             | EC               | CORP              | NZ        |    289267 | NS      | $1322245.41   | 0.89%             |  |  |  | No            |                  2 | On Loan: No      |
| Cellnex Telecom SA                     | Cellnex Telecom SA                                 | CUSIP: N/A<br>LEI: 5493008T4YG3AQUI7P67       | Long             | EC               | CORP              | ES        |    118252 | NS      | $4095955.51   | 2.75%             |  |  |  | No            |                  2 | On Loan: No      |
| Hydro One Ltd                          | Hydro One Ltd                                      | CUSIP: 448811208<br>LEI: 5493007QZDXTP1W2VL44 | Long             | EC               | CORP              | CA        |     96371 | NS      | $3438111.77   | 2.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Black Hills Corp                       | Black Hills Corp                                   | CUSIP: 092113109<br>LEI: 3MGELCRSTNSAMJ962671 | Long             | EC               | CORP              | US        |      4021 | NS      | $247653.39    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| DTE Energy Co                          | DTE Energy Co                                      | CUSIP: 233331107<br>LEI: 549300IX8SD6XXD71I78 | Long             | EC               | CORP              | US        |     11724 | NS      | $1658125.32   | 1.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Duke Energy Corp                       | Duke Energy Corp                                   | CUSIP: 26441C204<br>LEI: I1BZKREC126H0VB1BL91 | Long             | EC               | CORP              | US        |     24184 | NS      | $2992770.00   | 2.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Entergy Corp                           | Entergy Corp                                       | CUSIP: 29364G103<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | EC               | CORP              | US        |     25852 | NS      | $2409147.88   | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Koninklijke Vopak NV                   | Koninklijke Vopak NV                               | CUSIP: N/A<br>LEI: 724500UL634GFV1KYF10       | Long             | EC               | CORP              | NL        |     21220 | NS      | $973951.56    | 0.65%             |  |  |  | No            |                  2 | On Loan: No      |
| OGE Energy Corp                        | OGE Energy Corp                                    | CUSIP: 670837103<br>LEI: CE5OG6JPOZMDSA0LAQ19 | Long             | EC               | CORP              | US        |     10058 | NS      | $465383.66    | 0.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Portland General Electric Co           | Portland General Electric Co                       | CUSIP: 736508847<br>LEI: GJOUP9M7C39GLSK9R870 | Long             | EC               | CORP              | US        |      5913 | NS      | $260172.00    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                        | Xcel Energy Inc                                    | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |     32408 | NS      | $2613705.20   | 1.76%             |  |  |  | No            |                  1 | On Loan: No      |
| Terna - Rete Elettrica Naziona         | Terna - Rete Elettrica Nazionale                   | CUSIP: N/A<br>LEI: 8156009E94ED54DE7C31       | Long             | EC               | CORP              | IT        |    330529 | NS      | $3354379.81   | 2.26%             |  |  |  | No            |                  2 | On Loan: No      |
| Vector Ltd                             | Vector Ltd                                         | CUSIP: N/A<br>LEI: 98450076008579EGF176       | Long             | EC               | CORP              | NZ        |    164315 | NS      | $455407.32    | 0.31%             |  |  |  | No            |                  2 | On Loan: No      |
| Macquarie Korea Infrastructure         | Macquarie Korea Infrastructure Fund                | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | KR        |     75460 | NS      | $619190.99    | 0.42%             |  |  |  | No            |                  2 | On Loan: No      |
| International Public Partnersh         | International Public Partnerships Ltd              | CUSIP: N/A<br>LEI: 2138002AJT55TI5M4W30       | Long             | EC               | RF                | GG        |    316036 | NS      | $533491.98    | 0.36%             |  |  |  | No            |                  2 | On Loan: No      |
| Getlink SE                             | Getlink SE                                         | CUSIP: N/A<br>LEI: 9695007ZEQ7M0OE74G82       | Long             | EC               | CORP              | FR        |     93505 | NS      | $1724185.98   | 1.16%             |  |  |  | No            |                  2 | On Loan: No      |
| Algonquin Power & Utilities Co         | Algonquin Power & Utilities Corp                   | CUSIP: 015857105<br>LEI: 549300K5VIUTJXQL7X75 | Long             | EC               | CORP              | CA        |    110368 | NS      | $593197.27    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Hicl Infrastructure PLC                | Hicl Infrastructure PLC                            | CUSIP: N/A<br>LEI: 213800BVXR1E5L7PEV94       | Long             | EC               | RF                | GB        |    336553 | NS      | $557688.53    | 0.38%             |  |  |  | No            |                  2 | On Loan: No      |
| TC Energy Corp                         | TC Energy Corp                                     | CUSIP: 87807B107<br>LEI: 549300UGKOFV2IWJJG27 | Long             | EC               | CORP              | CA        |     83743 | NS      | $4553303.74   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Pennon Group PLC                       | Pennon Group PLC                                   | CUSIP: N/A<br>LEI: 213800V1CCTS41GWH423       | Long             | EC               | CORP              | GB        |     79280 | NS      | $500120.69    | 0.34%             |  |  |  | No            |                  2 | On Loan: No      |
| Atlas Arteria Ltd                      | Atlas Arteria Ltd                                  | CUSIP: N/A<br>LEI: 254900SGF4ZQDBH2YC59       | Long             | EC               | CORP              | AU        |    236905 | NS      | $769326.44    | 0.52%             |  |  |  | No            |                  2 | On Loan: No      |
| H2O America                            | H2O America                                        | CUSIP: 784305104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2715 | NS      | $132220.50    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Spire Inc                              | Spire Inc                                          | CUSIP: 84857L101<br>LEI: 549300NXSY15DRY2R511 | Long             | EC               | CORP              | US        |      3329 | NS      | $271380.08    | 0.18%             |  |  |  | No            |                  1 | On Loan: No      |
| United Utilities Group PLC             | United Utilities Group PLC                         | CUSIP: N/A<br>LEI: 2138002IEYQAOC88ZJ59       | Long             | EC               | CORP              | GB        |    114777 | NS      | $1773156.38   | 1.19%             |  |  |  | No            |                  2 | On Loan: No      |
| National Grid PLC                      | National Grid PLC                                  | CUSIP: N/A<br>LEI: 8R95QZMKZLJX5Q2XR704       | Long             | EC               | CORP              | GB        |    309539 | NS      | $4447662.25   | 2.99%             |  |  |  | No            |                  2 | On Loan: No      |
| ALLETE Inc                             | ALLETE Inc                                         | CUSIP: 018522300<br>LEI: 549300NNLSIMY6Z8OT86 | Long             | EC               | CORP              | US        |      3289 | NS      | $218389.60    | 0.15%             |  |  |  | No            |                  1 | On Loan: No      |
| Ameren Corp                            | Ameren Corp                                        | CUSIP: 023608102<br>LEI: XRZQ5S7HYJFPHJ78L959 | Long             | EC               | CORP              | US        |     15532 | NS      | $1621230.16   | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| American Electric Power Co Inc         | American Electric Power Co Inc                     | CUSIP: 025537101<br>LEI: 1B4S6S7G0TW5EE83BO58 | Long             | EC               | CORP              | US        |     25860 | NS      | $2909250.00   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| American Tower Corp                    | American Tower Corp                                | CUSIP: 03027X100<br>LEI: 5493006ORUSIL88JOE18 | Long             | EC               | CORP              | US        |     14115 | NS      | $2714596.80   | 1.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Chesapeake Utilities Corp              | Chesapeake Utilities Corp                          | CUSIP: 165303108<br>LEI: 254900WW0FDCKAOCKE74 | Long             | EC               | CORP              | US        |       872 | NS      | $117449.68    | 0.08%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Utilities Ltd                 | Canadian Utilities Ltd                             | CUSIP: 136717832<br>LEI: LWV4QIQODEH3VBHUFX07 | Long             | EC               | CORP              | CA        |     31075 | NS      | $869260.44    | 0.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Aguas Andinas SA                       | Aguas Andinas SA                                   | CUSIP: N/A<br>LEI: 894500KC50BSHRL3SK15       | Long             | EC               | CORP              | CL        |   1107574 | NS      | $420678.00    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| ACEA SpA                               | ACEA SpA                                           | CUSIP: N/A<br>LEI: 549300Q3448N041CTH56       | Long             | EC               | CORP              | IT        |     36135 | NS      | $871396.83    | 0.59%             |  |  |  | No            |                  2 | On Loan: No      |
| Transurban Group                       | Transurban Group                                   | CUSIP: N/A<br>LEI: 549300ZR71SUQ4VUTM79       | Long             | EC               | CORP              | AU        |    462892 | NS      | $4223357.01   | 2.84%             |  |  |  | No            |                  2 | On Loan: No      |
| Northwest Natural Holding Co           | Northwest Natural Holding Co                       | CUSIP: 66765N105<br>LEI: 254900PSJL6ZEC8FR782 | Long             | EC               | CORP              | US        |      1850 | NS      | $83120.50     | 0.06%             |  |  |  | No            |                  1 | On Loan: No      |
| ONE Gas Inc                            | ONE Gas Inc                                        | CUSIP: 68235P108<br>LEI: 549300HXDWI0LATTX840 | Long             | EC               | CORP              | US        |      3054 | NS      | $247190.76    | 0.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Public Service Enterprise Grou         | Public Service Enterprise Group Inc                | CUSIP: 744573106<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | EC               | CORP              | US        |     28038 | NS      | $2340051.48   | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| SBA Communications Corp                | SBA Communications Corp                            | CUSIP: 78410G104<br>LEI: 5299001HX8ZN8Y8QIT49 | Long             | EC               | CORP              | US        |      6070 | NS      | $1173634.50   | 0.79%             |  |  |  | No            |                  1 | On Loan: No      |
| Southern Co/The                        | Southern Co/The                                    | CUSIP: 842587107<br>LEI: 549300FC3G3YU2FBZD92 | Long             | EC               | CORP              | US        |     32649 | NS      | $3094145.73   | 2.08%             |  |  |  | No            |                  1 | On Loan: No      |
| U.S. Bank Money Market Deposit Account | U.S. Bank Money Market Deposit Account             | CUSIP: 8AMMF0A84<br>LEI: N/A                  | Long             | STIV             | RF                | US        |   2914269 | NS      | $2914268.85   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Enav SpA                               | Enav SpA                                           | CUSIP: N/A<br>LEI: 81560048ECF8D2059980       | Long             | EC               | CORP              | IT        |     88516 | NS      | $449894.79    | 0.30%             |  |  |  | No            |                  2 | On Loan: No      |
| Redeia Corp SA                         | Redeia Corp SA                                     | CUSIP: N/A<br>LEI: 5493009HMD0C90GUV498       | Long             | EC               | CORP              | ES        |     91189 | NS      | $1760653.66   | 1.18%             |  |  |  | No            |                  2 | On Loan: No      |
| Consolidated Edison Inc                | Consolidated Edison Inc                            | CUSIP: 209115104<br>LEI: 54930033SBW53OO8T749 | Long             | EC               | CORP              | US        |     20354 | NS      | $2045984.08   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Northwestern Energy Group Inc          | Northwestern Energy Group Inc                      | CUSIP: 668074305<br>LEI: 254900N1WG46G1VMDM34 | Long             | EC               | CORP              | US        |      3184 | NS      | $186614.24    | 0.13%             |  |  |  | No            |                  1 | On Loan: No      |
| TXNM Energy Inc                        | TXNM Energy Inc                                    | CUSIP: 69349H107<br>LEI: 5493003JOBJGLZSDDQ28 | Long             | EC               | CORP              | US        |      4945 | NS      | $279639.75    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Centro         | Grupo Aeroportuario del Centro Norte SAB de CV     | CUSIP: P49530101<br>LEI: 529900HUSBARAFSXJ605 | Long             | EC               | CORP              | MX        |     57069 | NS      | $736582.28    | 0.50%             |  |  |  | No            |                  1 | On Loan: No      |
| REN - Redes Energeticas Nacion         | REN - Redes Energeticas Nacionais SGPS SA          | CUSIP: N/A<br>LEI: 549300FR1FN48IGHR915       | Long             | EC               | CORP              | PT        |    116835 | NS      | $420021.52    | 0.28%             |  |  |  | No            |                  2 | On Loan: No      |
| Flughafen Zurich AG                    | Flughafen Zurich AG                                | CUSIP: N/A<br>LEI: 529900PFO97GCN5SYB55       | Long             | EC               | CORP              | CH        |      5129 | NS      | $1570444.44   | 1.06%             |  |  |  | No            |                  2 | On Loan: No      |
| Enbridge Inc                           | Enbridge Inc                                       | CUSIP: 29250N105<br>LEI: 98TPTUM4IVMFCZBCUR27 | Long             | EC               | CORP              | CA        |     90274 | NS      | $4554241.24   | 3.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Dominion Energy Inc                    | Dominion Energy Inc                                | CUSIP: 25746U109<br>LEI: ILUL7B6Z54MRYCF6H308 | Long             | EC               | CORP              | US        |     48180 | NS      | $2947170.60   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Exelon Corp                            | Exelon Corp                                        | CUSIP: 30161N101<br>LEI: 3SOUA6IRML7435B56G12 | Long             | EC               | CORP              | US        |     56727 | NS      | $2553282.27   | 1.72%             |  |  |  | No            |                  1 | On Loan: No      |
| APA Group                              | APA Group                                          | CUSIP: N/A<br>LEI: 549300T9RBSX164T8H40       | Long             | EC               | CORP              | AU        |    223504 | NS      | $1312111.46   | 0.88%             |  |  |  | No            |                  2 | On Loan: No      |
| Snam SpA                               | Snam SpA                                           | CUSIP: N/A<br>LEI: 8156002278562044AF79       | Long             | EC               | CORP              | IT        |    554968 | NS      | $3332166.00   | 2.24%             |  |  |  | No            |                  2 | On Loan: No      |
| Enagas SA                              | Enagas SA                                          | CUSIP: N/A<br>LEI: 213800OU3FQKGM4M2U23       | Long             | EC               | CORP              | ES        |     46755 | NS      | $730491.67    | 0.49%             |  |  |  | No            |                  2 | On Loan: No      |
| Elia Group SA/NV                       | Elia Group SA/NV                                   | CUSIP: N/A<br>LEI: 549300S1MP1NFDIKT460       | Long             | EC               | CORP              | BE        |     18260 | NS      | $2109603.04   | 1.42%             |  |  |  | No            |                  2 | On Loan: No      |
| Vinci SA                               | Vinci SA                                           | CUSIP: N/A<br>LEI: 213800WFQ334R8UXUG83       | Long             | EC               | CORP              | FR        |     32623 | NS      | $4533695.51   | 3.05%             |  |  |  | No            |                  2 | On Loan: No      |
| Ferrovial SE                           | Ferrovial SE                                       | CUSIP: N/A<br>LEI: 72450022R2ZFL41Y6I04       | Long             | EC               | CORP              | NL        |     81007 | NS      | $4653076.03   | 3.13%             |  |  |  | No            |                  2 | On Loan: No      |
| American States Water Co               | American States Water Co                           | CUSIP: 029899101<br>LEI: 529900L26LIS2V8PWM23 | Long             | EC               | CORP              | US        |      1774 | NS      | $130069.68    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Atmos Energy Corp                      | Atmos Energy Corp                                  | CUSIP: 049560105<br>LEI: QVLWEGTD2S8GJMO8D383 | Long             | EC               | CORP              | US        |      8973 | NS      | $1532139.75   | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| California Water Service Group         | California Water Service Group                     | CUSIP: 130788102<br>LEI: 529900QABDOBU6UVRQ36 | Long             | EC               | CORP              | US        |      2780 | NS      | $127574.20    | 0.09%             |  |  |  | No            |                  1 | On Loan: No      |
| CenterPoint Energy Inc                 | CenterPoint Energy Inc                             | CUSIP: 15189T107<br>LEI: 21TPXMRRHFKOBHDC8J74 | Long             | EC               | CORP              | US        |     36876 | NS      | $1430788.80   | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Grupo Aeroportuario del Surest         | Grupo Aeroportuario del Sureste SAB de CV          | CUSIP: P4950Y100<br>LEI: 5299001W7JIDXCUOUC82 | Long             | EC               | CORP              | MX        |     46620 | NS      | $1505734.23   | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Eversource Energy                      | Eversource Energy                                  | CUSIP: 30040W108<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | EC               | CORP              | US        |     20756 | NS      | $1476581.84   | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| MGE Energy Inc                         | MGE Energy Inc                                     | CUSIP: 55277P104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |      2060 | NS      | $173410.80    | 0.12%             |  |  |  | No            |                  1 | On Loan: No      |
| NiSource Inc                           | NiSource Inc                                       | CUSIP: 65473P105<br>LEI: 549300D8GOWWH0SJB189 | Long             | EC               | CORP              | US        |     24837 | NS      | $1075442.10   | 0.72%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-11-25

**Name of Applicant:** Frontier Funds, Inc.

**Signature:** /s/ Charles Thompson II

**Name of Signer:** Charles Thompson II

**Title:** President