MainGate MLP Fund
  
Schedule of Investments
  
August 31, 2025 (Unaudited)
  
   
MASTER LIMITED PARTNERSHIPS AND RELATED COMMON STOCKS - 108.2%
  
Shares/Units
    
Fair Value
 
Crude/Refined Products Pipelines and Storage - 29.2%
        
Canada - 0.4%
            
Enbridge, Inc.
    
70,000
    
$
3,383,800
  
             
$
–
  
United States - 28.8%
                
Genesis Energy, L.P.
    
1,650,000
      
28,033,500
  
MPLX, L.P.
    
2,300,000
      
117,001,000
  
Phillips 66
    
60,000
      
8,014,800
  
Plains GP Holdings, L.P.
    
4,218,000
      
81,407,400
  
               
234,456,700
  
Total Crude/Refined Products Pipelines and Storage
      
237,840,500
  
                   
Natural Gas Gathering/Processing - 27.7%
          
United States - 27.7%
                
Antero Midstream Corp.
    
300,000
      
5,337,000
  
Kinetik Holdings, Inc.
    
272,000
      
11,377,760
  
Targa Resources Corp.
    
600,000
      
100,656,000
  
Western Midstream Partners, L.P.
    
2,750,000
      
107,827,500
  
Total Natural Gas Gathering/Processing
      
225,198,260
  
                   
Natural Gas/Natural Gas Liquid Pipelines and Storage - 51.3%
          
United States - 51.3%
                
Cheniere Energy, Inc.
    
300,000
      
72,546,000
  
DT Midstream, Inc.
    
100,000
      
10,418,000
  
Energy Transfer, L.P.
    
6,600,000
      
116,952,000
  
Enterprise Products Partners, L.P.
    
2,250,000
      
72,315,000
  
Kinder Morgan, Inc.
    
300,000
      
8,094,000
  
ONEOK, Inc.
    
785,000
      
59,958,300
  
Williams Companies, Inc.
    
1,325,000
      
76,691,000
  
Total Natural Gas/Natural Gas Liquid Pipelines and Storage
      
416,974,300
  
TOTAL MASTER LIMITED PARTNERSHIPS AND RELATED COMMON STOCKS (Cost $281,793,352)
      
880,013,060
  
                   
TOTAL INVESTMENTS - 108.2% (Cost $281,793,352)
  
     
        880,013,060  
Liabilities in Excess of Other Assets - (8.2)%
      
(66,459,048
)
TOTAL NET ASSETS - 100.0%
            
$
813,554,012
  
two
–%
                
Percentages are stated as a percent of net assets.
      
–
%


Fair Value Measurements

Various inputs that are used in determining the fair value of the Fund’s investments are summarized in the three broad levels listed below:

•
Level 1 — Unadjusted quoted prices in active markets for identical securities that the Fund has the ability to access
•
Level 2 — Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.)
•
Level 3 — Significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

These inputs are summarized in the three broad levels that follow.

         
Fair Value Measurements at Reporting Date Using
  
         
Quoted Prices in
          
Significant
  
         
Active Markets for
    
Significant Other
    
Unobservable
  
   
Fair Value at
    
Identical Assets
    
Observable Inputs
    
Inputs
  
Description
  
August 31, 2025
    
(Level 1)
    
(Level 2)
    
(Level 3)
  
Equity Securities
                        
Master Limited Partnerships and Related Common Stocks(1)
  
$
880,013,060
    
$
880,013,060
    
$
-
    
$
-
  
Total
  
$
880,013,060
    
$
880,013,060
    
$
-
    
$
-
  

(1)
All other industry classifications are identified in the Schedule of Investments.

The Fund did not hold Level 2 or Level 3 investments at any time during the period ended August 31, 2025. There were no transfers into and out of all Levels during the current period presented. It is the Fund’s policy to record transfers between all Levels at the end of the reporting period.