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Canadian Utilities & Telecom Income Fund

 

UTE.UN

Portfolio

Monthly Portfolio List as of March 29, 2019

The following securities were included in the portfolio as at the end of the respective month. For further information on each security please click on the security name.

ALGONQUIN POWER & UTILITIES
BROOKFIELD INFRASTRUCTURE PA
CAPITAL POWER CORP
EMERA INC
FORTIS INC
INNERGEX RENEWABLE ENERGY
NORTHLAND POWER INC
PATTERN ENERGY GROUP INC -A
SHAW COMMUNICATIONS INC-B
TRANSCANADA CORP
BCE INC
CANADIAN UTILITIES LTD-A
COGECO COMMUNICATIONS INC
ENBRIDGE INC
GIBSON ENERGY INC
NISOURCE INC
PARKLAND FUEL CORP
PEMBINA PIPELINE CORP
TRANSALTA RENEWABLES INC

Option Strategy

The Fund employs Strathbridge’s proprietary SSO option strategy to generate additional returns above the distributions earned on its equity securities. The Fund may, from time to time, selectively write covered call options in respect of up to a maximum of 25 percent of the securities in the portfolio. Click here for a detailed review of the Strathbridge Selective Overwriting (“SSO”) strategy.

Call & Put Options Summary Statistics

The following table provides summary statistics for the level of covered call writing and level of Put buying Year-to-Date for the most recently completed calendar quarter compared to the Prior Fiscal Year ended.

  YTD March 2018
  Average for
the Period
Closing
Percent
Average for
the Period
Closing
Percent
Percent of portfolio subject to covered calls 15.8% 14.4% 9.9% 16.9%
Percent of portfolio hedged with put options 0.0% 0.0% 0.0% 0.0%

Quarterly Portfolio Summary

The quarterly portfolio updates include the top 25 holdings including cash and the percentage for each holding as well as sector or geographic composition.

Top 20 Holdings as of March 31, 2019

Sector Allocations
Holding Name % of NAV
Pembina Pipeline Corporation      7.3%
Enbridge Inc.      6.9%
TransCanada Corporation      6.3%
Gibson Energy Inc.      6.3%
Emera Incorporated      6.2%
Canadian Utilities Limited      6.1%
Fortis Inc.      6.1%
Algonquin Power & Utilities Corp.      5.4%
Parkland Fuel Corp.      5.3%
TransAlta Corporation      5.3%
Innergex Renewable      4.6%
BCE Inc.      4.4%
Brookfield Infrastructure Partners L.P.      4.3%
Pattern Energy Inc.      4.3%
Shaw Communications      4.0%
Cash      3.8%
NiSource Inc.      3.5%
Capital Power Corp      3.5%
Northland Power Inc.      3.4%
Cogeco Communications Inc.      3.1%

 

 

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