# EDGAR Filing Document

**Accession Number:** 0001596076
**File Stem:** 0001596076-26-000002
**Filing Date:** 2026-5
**Character Count:** 9173
**Document Hash:** 49e4198256986ae5e138219164e1a497
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001596076-26-000002.hdr.sgml**: 20260514

**ACCESSION NUMBER**: 0001596076-26-000002

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260331

**FILED AS OF DATE**: 20260514

**DATE AS OF CHANGE**: 20260514

**EFFECTIVENESS DATE**: 20260514

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Capital Innovations LLC
- **CENTRAL INDEX KEY:** 0001596076

**ORGANIZATION NAME:**
- **EIN:** 010903675
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-15733
- **FILM NUMBER:** 26976235

**BUSINESS ADDRESS:**
- **STREET 1:** N19W24400 RIVERWOOD DR, STE 350
- **CITY:** WAUKESHA
- **STATE:** WI
- **ZIP:** 53188
- **BUSINESS PHONE:** 262-746-3100

**MAIL ADDRESS:**
- **STREET 1:** N19W24400 RIVERWOOD DR, STE 350
- **CITY:** WAUKESHA
- **STATE:** WI
- **ZIP:** 53188

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 03-31-2026

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** Capital Innovations LLC<br>**Address:** N19W24400 RIVERWOOD DR STE 350<br>WAUKESHA, WI 53188

**Form 13F File Number:** 028-15733

**CRD Number (if applicable):** 000145329

**SEC File Number (if applicable):** 801-72322

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Susan Dambekaln<br>**Title:** President<br>**Phone:** 2627463103

**Signature, Place, and Date of Signing:**

Susan Dambekaln  Waukesha, WI  05-14-2026<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 53

**Form 13F Information Table Value Total:** $399164

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                                  | Form 13F File Number   |
|:---|:---|:---|
|  | CANTOR FITZGERALD INFRASTRUCTURE FUND |  |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| Williams Ord Shs | COM | 096945710 |  | 29863 | 410323 | SH |  | SOLE |  | 410323 | 0 | 0 |
| SLB Ord Shs | COM | 080685710 |  | 27316 | 531546 | SH |  | SOLE |  | 531546 | 0 | 0 |
| NextEra Energy Ord Shs | COM | 065339F10 |  | 22328 | 240391 | SH |  | SOLE |  | 240391 | 0 | 0 |
| Vistra Ord Shs | COM | 092840M10 |  | 18776 | 124901 | SH |  | SOLE |  | 124901 | 0 | 0 |
| Constellation Energy Ord Shs | COM | 021037T10 |  | 17865 | 63976 | SH |  | SOLE |  | 63976 | 0 | 0 |
| EQT Ord Shs | COM | 026884L10 |  | 16521 | 259594 | SH |  | SOLE |  | 259594 | 0 | 0 |
| Cheniere Energy Ord Shs | COM | 016411R20 |  | 15758 | 55533 | SH |  | SOLE |  | 55533 | 0 | 0 |
| Digital Realty Trust REIT Ord Shs | REIT | 025386810 |  | 15314 | 84979 | SH |  | SOLE |  | 84979 | 0 | 0 |
| Canadian Pacific Kansas City Ord Shs | COM | 013646K10 |  | 14581 | 185368 | SH |  | SOLE |  | 185368 | 0 | 0 |
| NRG Energy Ord Shs | COM | 062937750 |  | 13261 | 90744 | SH |  | SOLE |  | 90744 | 0 | 0 |
| Halliburton Ord Shs | COM | 040621610 |  | 12399 | 318002 | SH |  | SOLE |  | 318002 | 0 | 0 |
| Union Pacific Ord Shs | COM | 090781810 |  | 11472 | 47283 | SH |  | SOLE |  | 47283 | 0 | 0 |
| Sempra Ord Shs | COM | 081685110 |  | 11324 | 116533 | SH |  | SOLE |  | 116533 | 0 | 0 |
| Southern Ord Shs | COM | 084258710 |  | 11184 | 115871 | SH |  | SOLE |  | 115871 | 0 | 0 |
| TC Energy Ord Shs | COM | 087807B10 |  | 11105 | 177391 | SH |  | SOLE |  | 177391 | 0 | 0 |
| SBA Communications REIT Ord Shs Class A | REIT | 078410G10 |  | 10974 | 63760 | SH |  | SOLE |  | 63760 | 0 | 0 |
| American Tower REIT | REIT | 003027X10 |  | 10169 | 58925 | SH |  | SOLE |  | 58925 | 0 | 0 |
| Enbridge Ord Shs | COM | 029250N10 |  | 10003 | 184766 | SH |  | SOLE |  | 184766 | 0 | 0 |
| DT Midstream Ord Shs | COM | 023345M10 |  | 7304 | 54239 | SH |  | SOLE |  | 54239 | 0 | 0 |
| Waste Management Ord Shs | COM | 094106L10 |  | 7213 | 31389 | SH |  | SOLE |  | 31389 | 0 | 0 |
| National Grid ADR repsg 5 Ord Shs | ADR | 063627440 |  | 7138 | 84370 | SH |  | SOLE |  | 84370 | 0 | 0 |
| HA Sustainable Infrastructure Capital Ord Shs | COM | 041068X10 |  | 6907 | 187959 | SH |  | SOLE |  | 187959 | 0 | 0 |
| RWE ADR Representing 1 Ord Shs | ADR | 749749999 |  | 6576 | 97719 | SH |  | SOLE |  | 97719 | 0 | 0 |
| Entergy Ord Shs | COM | 029364G10 |  | 6300 | 56073 | SH |  | SOLE |  | 56073 | 0 | 0 |
| Edison International Ord Shs | COM | 028102010 |  | 6255 | 85471 | SH |  | SOLE |  | 85471 | 0 | 0 |
| Badger Meter Ord Shs | COM | 005652510 |  | 5999 | 39375 | SH |  | SOLE |  | 39375 | 0 | 0 |
| American Water Works Ord Shs | COM | 003042010 |  | 4901 | 36013 | SH |  | SOLE |  | 36013 | 0 | 0 |
| GFL Environmental Subordinate voting Ord Shs | COM | 036168Q10 |  | 4463 | 106981 | SH |  | SOLE |  | 106981 | 0 | 0 |
| Enel Ord Shs | COM | 000714456 |  | 4321 | 400000 | SH |  | SOLE |  | 400000 | 0 | 0 |
| Xylem Ord Shs | COM | 098419M10 |  | 4124 | 34513 | SH |  | SOLE |  | 34513 | 0 | 0 |
| Xcel Energy Ord Shs | COM | 098389B10 |  | 3958 | 49822 | SH |  | SOLE |  | 49822 | 0 | 0 |
| Waste Connections Ord Shs | COM | 094106B10 |  | 3866 | 23801 | SH |  | SOLE |  | 23801 | 0 | 0 |
| Dominion Energy Ord Shs | COM | 025746U10 |  | 3808 | 61605 | SH |  | SOLE |  | 61605 | 0 | 0 |
| Exelon Ord Shs | COM | 030161N10 |  | 3798 | 77480 | SH |  | SOLE |  | 77480 | 0 | 0 |
| American Electric Power Ord Shs | COM | 002553710 |  | 3486 | 26592 | SH |  | SOLE |  | 26592 | 0 | 0 |
| Grupo Aeroportuario ADR Representing 10 Ord Shs Series B | ADR | 400509999 |  | 3261 | 9701 | SH |  | SOLE |  | 9701 | 0 | 0 |
| Duke Energy Ord Shs | COM | 026441C20 |  | 3008 | 22975 | SH |  | SOLE |  | 22975 | 0 | 0 |
| Iberdrola ADR | ADR | 045073710 |  | 2757 | 29888 | SH |  | SOLE |  | 29888 | 0 | 0 |
| Oneok Ord Shs | COM | 068268010 |  | 2577 | 28513 | SH |  | SOLE |  | 28513 | 0 | 0 |
| Ultrapar Participacoes ADR Representing 1 Ord Shs | ADR | 090400P10 |  | 2234 | 405382 | SH |  | SOLE |  | 405382 | 0 | 0 |
| Public Service Enterprise Group Ord Shs | COM | 074457310 |  | 2230 | 27549 | SH |  | SOLE |  | 27549 | 0 | 0 |
| FirstEnergy Ord Shs | COM | 033793210 |  | 2124 | 41927 | SH |  | SOLE |  | 41927 | 0 | 0 |
| CMS Energy Ord Shs | COM | 012589610 |  | 1833 | 23622 | SH |  | SOLE |  | 23622 | 0 | 0 |
| Essential Utilities Ord Shs | COM | 029670G10 |  | 1474 | 36596 | SH |  | SOLE |  | 36596 | 0 | 0 |
| TransAlta Ord Shs | COM | 089346D10 |  | 1305 | 99595 | SH |  | SOLE |  | 99595 | 0 | 0 |
| Solaredge Technologies Ord Shs | COM | 083417M10 |  | 1219 | 23883 | SH |  | SOLE |  | 23883 | 0 | 0 |
| DTE Energy Ord Shs | COM | 023333110 |  | 1149 | 7858 | SH |  | SOLE |  | 7858 | 0 | 0 |
| Grupo Aeroportuario del Centro Norte ADS representing 8 Ord Shs Series B | ADR | 040050110 |  | 1074 | 9365 | SH |  | SOLE |  | 9365 | 0 | 0 |
| Atmos Energy Ord Shs | COM | 004956010 |  | 734 | 3975 | SH |  | SOLE |  | 3975 | 0 | 0 |
| NiSource Ord Shs | COM | 065473P10 |  | 552 | 11825 | SH |  | SOLE |  | 11825 | 0 | 0 |
| Enel Societa Per Azioni Unsponsored Italy ADR | ADR | 029265W20 |  | 542 | 49779 | SH |  | SOLE |  | 49779 | 0 | 0 |
| Enphase Energy Ord Shs | COM | 029355A10 |  | 420 | 11110 | SH |  | SOLE |  | 11110 | 0 | 0 |
| T Mobile US Ord Shs | COM | 087259010 |  | 41 | 194 | SH |  | SOLE |  | 194 | 0 | 0 |

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