Market
Memos from Howard Marks: Nobody Knows (Yet Again)Portfolio
As of 03/31/2025
Characteristics
Top Holdings Concentration
Duke Energy Corp
5.8%
|
Union Pacific Corp
4.7%
|
Xcel Energy Inc
4.3%
|
PG&E Corp
3.9%
|
PPL Corp
3.8%
|
National Grid PLC
3.8%
|
Cheniere Energy Inc
3.6%
|
SBA Communications Corp
3.6%
|
TC Energy Corp
3.5%
|
CMS Energy Corp
3.5%
|
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.