BROOKFIELD GLOBAL LISTED INFRASTRUCTURE INCOME FUND INC.
|
||||||
Schedule of Investments (Unaudited)
|
||||||
March 31, 2017
|
|
|
|
|
|
|
|
|
|
Shares
|
|
|
Value
|
COMMON STOCKS - 131.9%
|
||||||
AUSTRALIA - 5.5%
|
||||||
Pipelines - 2.0%
|
||||||
APA Group
|
623,400
|
$ 4,266,746
|
||||
Toll Roads - 3.5%
|
||||||
Transurban Group 1
|
816,500
|
7,278,205
|
||||
Total AUSTRALIA
|
|
|
|
|
|
11,544,951
|
BRAZIL - 2.9%
|
||||||
Electricity Transmission & Distribution - 2.9%
|
||||||
Alupar Investimento SA
|
926,198
|
6,032,447
|
||||
Total BRAZIL
|
|
|
|
|
|
6,032,447
|
CANADA - 11.2%
|
||||||
Pipelines - 11.2%
|
||||||
Pembina Pipeline Corp. 1
|
266,100
|
8,432,119
|
||||
TransCanada Corp. 1
|
322,100
|
14,864,291
|
||||
Total Pipelines
|
23,296,410
|
|||||
Total CANADA
|
|
|
|
|
|
23,296,410
|
FRANCE - 5.8%
|
||||||
Toll Roads - 5.8%
|
||||||
Groupe Eurotunnel SE
|
327,000
|
3,286,995
|
||||
Vinci SA
|
110,200
|
8,750,858
|
||||
Total Toll Roads
|
12,037,853
|
|||||
Total FRANCE
|
|
|
|
|
|
12,037,853
|
ITALY - 6.1%
|
||||||
Electric Utilities & Generation - 2.4%
|
||||||
ACEA SpA 9
|
|
|
||||
(Acquired 11/06/13 - 11/12/13, Cost $1,684,754, 1.0%) | 160,360 | 2,180,492 | ||||
Enel SpA
|
622,800
|
2,930,573
|
||||
Total Electric Utilities & Generation
|
5,111,065
|
|||||
Pipelines - 0.9%
|
||||||
Italgas SpA 1
|
439,980
|
1,930,058
|
||||
Toll Roads - 2.8%
|
||||||
Atlantia SpA
|
222,800
|
5,747,394
|
||||
Total ITALY
|
|
|
|
|
|
12,788,517
|
MEXICO - 1.9%
|
||||||
Pipelines - 0.7%
|
||||||
Infraestructura Energetica Nova SAB de CV
|
308,000
|
1,471,543
|
||||
Toll Roads - 1.2%
|
||||||
Promotora y Operadora de Infraestructura SAB de CV
|
236,800
|
2,556,678
|
||||
Total MEXICO
|
|
|
|
|
|
4,028,221
|
NEW ZEALAND - 2.6%
|
||||||
Airports - 2.6%
|
||||||
Auckland International Airport Ltd. 1
|
1,140,800
|
5,401,776
|
||||
Total NEW ZEALAND
|
|
|
|
|
|
5,401,776
|
SPAIN - 6.6%
|
||||||
Telecommunication Services - 2.3%
|
||||||
Cellnex Telecom SA 2
|
294,400
|
4,848,750
|
||||
Toll Roads - 4.3%
|
||||||
Ferrovial SA 1
|
449,895
|
8,992,265
|
||||
Total SPAIN
|
|
|
|
|
|
13,841,015
|
SWITZERLAND - 3.1%
|
||||||
Airports - 3.1%
|
||||||
Flughafen Zuerich AG 1
|
30,800
|
6,562,182
|
||||
Total SWITZERLAND
|
|
|
|
|
|
6,562,182
|
UNITED KINGDOM - 8.8%
|
||||||
Water - 8.8%
|
||||||
Pennon Group PLC 1
|
582,700
|
6,436,763
|
||||
Severn Trent PLC
|
192,800
|
5,751,031
|
||||
United Utilities Group PLC 1
|
490,150
|
6,102,833
|
||||
Total Water
|
18,290,627
|
|||||
Total UNITED KINGDOM
|
|
|
|
|
|
18,290,627
|
UNITED STATES - 77.4%
|
||||||
Electric Utilities & Generation - 8.6%
|
||||||
American Electric Power Company, Inc.
|
76,700
|
5,148,871
|
||||
NextEra Energy, Inc. 1
|
30,628
|
3,931,716
|
||||
NRG Yield, Inc. - Class A
|
280,600
|
4,879,634
|
||||
Pattern Energy Group, Inc. 1
|
197,100
|
3,967,623
|
||||
Total Electric Utilities & Generation
|
17,927,844
|
|||||
Electricity Transmission & Distribution - 13.8%
|
||||||
Avangrid, Inc.
|
65,900
|
2,816,566
|
||||
Edison International 1
|
111,400
|
8,868,554
|
||||
PG&E Corp. 1
|
151,100
|
10,026,996
|
||||
Sempra Energy 1
|
63,900
|
7,060,950
|
||||
Total Electricity Transmission & Distribution
|
28,773,066
|
|||||
Gas Utilities - 3.9%
|
||||||
NiSource, Inc. 1
|
340,300
|
8,095,737
|
||||
Midstream - 15.6%
|
||||||
Cheniere Energy Partners LP
|
177,600
|
5,738,256
|
||||
Enable Midstream Partners LP
|
61,500
|
1,026,435
|
||||
Phillips 66 Partners LP
|
50,400
|
2,588,040
|
||||
Rice Midstream Partners LP
|
249,600
|
6,294,912
|
||||
Sunoco Logistics Partners LP 1
|
114,800
|
2,803,416
|
||||
Targa Resources Corp. 1
|
142,201
|
8,517,840
|
||||
The Williams Companies, Inc. 1
|
192,900
|
5,707,911
|
||||
Total Midstream
|
32,676,810
|
|||||
Other - 0.2%
|
||||||
Teekay Offshore Partners LP 2,3,4,5
|
74,525
|
348,370
|
||||
Pipelines - 24.0%
|
||||||
Enbridge Energy Management LLC 1,3
|
2
|
33
|
||||
Enbridge Energy Partners LP
|
207,200
|
3,936,800
|
||||
Energy Transfer Equity LP
|
151,100
|
2,981,203
|
||||
Energy Transfer Partners LP 1
|
339,900
|
12,413,148
|
||||
Enterprise Products Partners LP 1
|
474,400
|
13,098,184
|
||||
Kinder Morgan, Inc. 1
|
495,700
|
10,776,518
|
||||
Williams Partners LP 1
|
166,700
|
6,806,361
|
||||
Total Pipelines
|
50,012,247
|
|||||
Telecommunication Services - 11.3%
|
||||||
American Tower Corp. 1
|
144,000
|
17,501,760
|
||||
Crown Castle International Corp. 8
|
64,200
|
6,063,690
|
||||
Total Telecommunication Services
|
23,565,450
|
|||||
Total UNITED STATES
|
|
|
|
|
|
161,399,524
|
Total COMMON STOCKS
|
|
|
|
|
|
|
(Cost $247,087,680)
|
|
|
|
|
|
275,223,523
|
CONVERTIBLE PREFERRED STOCK - 2.9%
|
||||||
UNITED STATES - 2.9%
|
||||||
Other - 2.9%
|
||||||
Teekay Offshore Partners LP, Series D, 10.5% 3,4,5
|
245,575
|
6,139,375
|
||||
Total UNITED STATES
|
|
|
|
|
|
6,139,375
|
Total CONVERTIBLE PREFERRED STOCK
|
|
|
|
|
|
|
(Cost $5,734,667)
|
|
|
|
|
|
6,139,375
|
Principal
Amount
(000s)
|
||||||
|
Interest
Rate
|
Maturity
|
|
|
Value
|
|
CORPORATE BOND - 1.1%
|
||||||
AUSTRALIA - 1.1%
|
||||||
Pipelines - 1.1%
|
||||||
APT Pipelines Ltd. 6
|
6.30%
|
09/30/72
|
AUD2,919
|
$ 2,274,730
|
||
Total AUSTRALIA
|
|
|
|
|
|
2,274,730
|
Total CORPORATE BOND
|
||||||
(Cost $3,054,157)
|
|
|
|
|
|
2,274,730
|
|
|
|
Shares
|
|
|
Value
|
WARRANTS - 0.0%
|
||||||
UNITED STATES - 0.0%
|
||||||
Other - 0.0%
|
||||||
Teekay Offshore Partners LP, Series A 3,5,9
|
||||||
(Acquired 7/18/16, Cost $0, 0.0%) | ||||||
Expiration: June 2023
|
||||||
Exercise Price: $4.55
|
276,272
|
$ 0
|
||||
Teekay Offshore Partners LP, Series B 3,5,9
|
||||||
(Acquired 7/18/16, Cost $0, 0.0%) | ||||||
Expiration: June 2023
|
||||||
Exercise Price: $6.05
|
138,136
|
0
|
||||
Total Other
|
0
|
|||||
Total UNITED STATES
|
|
|
|
|
|
|
(Cost $0)
|
|
|
|
|
|
0
|
Total WARRANTS
|
|
|
|
|
|
|
(Cost $0)
|
|
|
|
|
|
0
|
Total Investments - 135.9%
|
|
|
|
|
|
|
(Cost $255,876,504)
|
283,637,628
|
|||||
Liabilities in Excess of Other Assets - (35.9)%
|
|
|
|
(74,983,089)
|
||
TOTAL NET ASSETS - 100.0%
|
|
|
|
|
|
$ 208,654,539
|
The following notes should be read in conjunction with the accompanying Schedule of Investments.
|
||||||
AUD - Australian Dollar
|
||||||
1 - All or portion of this security is pledged as collateral for credit facility.
|
||||||
2 - Security exempt from registration under Rule 144A of the Securities Act of 1933. These securities may only be resold in transactions exempt from registration, normally to qualified institutional buyers. As of March 31, 2017, the total value of all such securities was $5,197,120 or 2.5% of net assets.
|
||||||
3 - Non-income producing security.
|
||||||
4 - Security fair valued in good faith pursuant to the fair value procedures adopted by the Board of Directors. As of March 31, 2017, the total value of all such securities was $6,487,745 or 3.1% of net assets.
|
||||||
5 - Private Placement.
|
||||||
6 - Variable rate security - Interest rate shown is the rate in effect as of March 31, 2017.
|
||||||
7 - Payment in kind security.
|
||||||
8 - This security is pledged as collateral for the written option contracts.
|
||||||
9 - Restricted Illiquid Securities - Securities that the Adviser has deemed illiquid pursuant to procedures adopted by the Fund's Board of Directors. The values in the parenthesis represent the acquisition date, cost and the percentage of net assets, respectively. As of March 31, 2017, the total value of all such securities was $2,180,492 or 1.0% of net assests. |
•
|
Level 1 -
|
quoted prices in active markets for identical assets or liabilities
|
•
|
Level 2 -
|
quoted prices in markets that are not active or other significant observable inputs (including, but not limited to: quoted prices for similar assets or liabilities, quoted prices based on recently executed transactions, interest rates, credit risk, etc.)
|
•
|
Level 3 -
|
significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of assets or liabilities)
|
Description:
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Common Stocks:
|
||||||||||||||||
Australia
|
$
|
-
|
$
|
11,544,951
|
$
|
-
|
$
|
11,544,951
|
||||||||
Brazil
|
6,032,447
|
-
|
-
|
6,032,447
|
||||||||||||
Canada
|
23,296,410
|
-
|
-
|
23,296,410
|
||||||||||||
France
|
-
|
12,037,853
|
-
|
12,037,853
|
||||||||||||
Italy
|
1,930,058
|
10,858,459
|
-
|
12,788,517
|
||||||||||||
Mexico
|
4,028,221
|
-
|
-
|
4,028,221
|
||||||||||||
New Zealand
|
-
|
5,401,776
|
-
|
5,401,776
|
||||||||||||
Spain
|
-
|
13,841,015
|
-
|
13,841,015
|
||||||||||||
Switzerland
|
-
|
6,562,182
|
-
|
6,562,182
|
||||||||||||
United Kingdom
|
-
|
18,290,627
|
-
|
18,290,627
|
||||||||||||
United States
|
161,051,154
|
-
|
348,370
|
161,399,524
|
||||||||||||
Total Common Stocks
|
196,338,290
|
78,536,863
|
348,370
|
275,223,523
|
||||||||||||
Convertible Preferred Stock:
|
||||||||||||||||
United States
|
-
|
-
|
6,139,375
|
6,139,375
|
||||||||||||
Corporate Bond:
|
||||||||||||||||
Australia
|
-
|
2,274,730
|
-
|
2,274,730
|
||||||||||||
Warrants:
|
||||||||||||||||
United States
|
-
|
-
|
0
|
0
|
||||||||||||
Total
|
$
|
196,338,290
|
$
|
80,811,593
|
$
|
6,487,745
|
$
|
283,637,628
|
||||||||
Description:
|
Level 1
|
Level 2
|
Level 3
|
Total
|
||||||||||||
Other Financial Instruments*
|
$
|
(186,180
|
)
|
$
|
-
|
$
|
-
|
$
|
(186,180
|
)
|
||||||
Total
|
$
|
(186,180
|
)
|
$
|
-
|
$
|
-
|
$
|
(186,180
|
)
|
Quantitative Information about Level 3 Fair Value Measurements
|
||||||||||||
Asset Type
|
Value as of
March 31,
2017
|
Valuation Approach |
Valuation
Technique
|
Unobservable
Input
|
Amount or
Range/
(Weighted
Average)
|
Impact to Valuation
from an Increase in
Input(1)
|
||||||
Common Stock
|
||||||||||||
Teekay Offshore
Partners LP
|
$
|
348,370
|
Market
Approach
|
Discounted
Cash Flow
|
Discount for lack
of marketability
|
7.80%
(7.80%)
|
|
Decrease
|
||||
Convertible
Preferred Stock
|
||||||||||||
Teekay Offshore
Partners LP, Series D,
10.5%
|
6,139,375
|
Market
Approach
|
Acquisition
cost
|
Acquisition cost
|
|
$25.00
($25.00)
|
|
Increase
|
||||
Total
|
$
|
6,487,745
|
||||||||||
(1) The impact represents the expected directional change in the fair value of the Level 3 investments that would result from an increase in the corresponding input. A decrease to the unobservable input would have the opposite effect. Significant changes in these inputs could result in significantly higher or lower fair value measurements.
|
Investments in Securities
|
Common Stock
|
Convertible
Preferred Stock
|
Warrants |
Total
|
||||||||||
Balance at December 31, 2016
|
$
|
213,452
|
$
|
6,139,375
|
$ | 0 |
$
|
6,352,827
|
||||||
Accrued discounts (premiums)
|
-
|
-
|
- |
-
|
||||||||||
Realized gain (loss)
|
-
|
-
|
- |
-
|
||||||||||
Change in unrealized appreciation (depreciation)
|
(21,220
|
)
|
161,171
|
- |
139,951
|
|||||||||
Purchases at cost
|
161,171
|
(1)
|
-
|
- |
161,171
|
|||||||||
Return of capital distribution
|
(5,033
|
)
|
(161,171
|
)
|
- |
(166,204
|
)
|
|||||||
Balance at March 31, 2017
|
$
|
348,370
|
$
|
6,139,375
|
$ | 0 |
$
|
6,487,745
|
||||||
Change in unrealized gains or losses relating
to assets still held at reporting date
|
$
|
(21,220
|
)
|
$
|
161,171
|
$ | 0 |
$
|
139,951
|
Number of
|
Premium
|
|||||||
|
Contracts
|
Amount
|
||||||
Outstanding at December 31, 2016
|
642
|
$
|
128,660
|
|||||
Options written
|
642
|
93,349
|
||||||
Options expired
|
(642
|
)
|
(128,660
|
)
|
||||
Options exercised
|
-
|
-
|
||||||
Outstanding at March 31, 2017
|
642
|
$
|
93,349
|
Contracts
|
|||||||||||||||||||
(100 shares per
Contract)
|
Description)
|
Exercise
Price
|
Expiration
Date
|
Premiums
Received
|
Value at
March 31, 2017
|
Unrealized
Depreciation
|
|||||||||||||
642
|
Crown Castle International Corp.
|
$
|
92.50
|
April 2017 | $ | 93,349 | $ | 186,180 | $ | (92,831) |
Total line of credit amount available
|
$ 82,000,000
|
Line of credit outstanding at March 31, 2017
|
78,000,000
|
Line of credit amount unused at March 31, 2017
|
4,000,000
|
Average balance outstanding during the period
|
78,000,000
|
Interest expense incurred on line of credit during the period
|
376,282
|
Cost of
Investments
|
Gross Unrealized
Appreciation
|
Gross Unrealized
Depreciation
|
Net Unrealized
Appreciation
|
$ 255,876,504
|
$ 37,575,142
|
$ (9,814,018)
|
$ 27,761,124
|