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Canadian Utilities & Telecom Income Fund

 

UTE.UN

Portfolio

Monthly Portfolio List as of January 31, 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
COMCAST CORP-CLASS A
ENBRIDGE INC
GIBSON ENERGY INC
NORTHLAND POWER INC
PEMBINA PIPELINE CORP
SHAW COMMUNICATIONS INC-B
VERIZON COMMUNICATIONS INC
BCE INC
CANADIAN UTILITIES LTD-A
COGECO COMMUNICATIONS INC
EMERA INC
FORTIS INC
INNERGEX RENEWABLE ENERGY
PATTERN ENERGY GROUP INC -A
ROGERS COMMUNICATIONS INC-B
TRANSCANADA CORP

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 December 2017
  Average for
the Period
Closing
Percent
Average for
the Period
Closing
Percent
Percent of portfolio subject to covered calls 9.9% 16.9% 2.6% 0.0%
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 December 31, 2018

Sector Allocations
Holding Name % of NAV
Cash and Short-Term Investments      12.1%
Algonquin Power & Utilities Corp.      7.5%
BCE Inc.      7.4%
Fortis Inc.      7.1%
Pembina Pipeline Corporation      6.6%
Brookfield Infrastructure Partners L.P.      6.2%
Verizon Communications Inc.      5.5%
Canadian Utilities Limited      5.1%
Exelon Coporation      4.4%
Emera Incorporated      4.2%
Gibson Energy Inc.      4.1%
Enbridge Inc.      4.1%
Pattern Energy Inc.      4.0%
Rogers Communications, Inc.      3.9%
Comcast Corporation      3.9%
TransCanada Corporation      3.8%
Northland Power Inc.      3.3%
TransAlta Corporation      2.6%
Utilities Select Sector SPDR      2.5%
NextEra Energy, Inc.      2.3%

 

 

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