Market
Memos from Howard Marks: More on Repealing the Laws of EconomicsPortfolio
As of 06/30/2025
Characteristics
Top Holdings Concentration
NextEra Energy Inc
5.9%
|
Union Pacific Corp
5.6%
|
Williams Cos Inc/The
4.5%
|
Duke Energy Corp
4.2%
|
National Grid PLC
4.1%
|
Xcel Energy Inc
4.0%
|
Canadian Pacific Kansas City Ltd
3.7%
|
SBA Communications Corp
3.7%
|
Cheniere Energy Inc
3.7%
|
Evergy Inc
3.4%
|
Asset Allocation
Geographic Allocation
U.S.
|
Asia Pacific
|
Continental Europe
|
U.K.
|
Canada
|
Latin America
|
Cash & Other
|
The top holdings will vary over time. There is no guarantee that the Fund currently holds any of the securities listed. The information above is based on the total assets of the Fund. The holdings listed should not be considered recommendations to purchase or sell a particular security.
Sector and country allocations and asset classes determined by the Adviser are expressed as a percentage of total investments (by market value) and will vary over time.
Cash and Other includes available cash and other receivables and payables of the Fund.