<SEC-DOCUMENT>0001752724-25-129546.txt : 20250530
<SEC-HEADER>0001752724-25-129546.hdr.sgml : 20250530
<ACCEPTANCE-DATETIME>20250530091134
ACCESSION NUMBER:		0001752724-25-129546
CONFORMED SUBMISSION TYPE:	NPORT-P
PUBLIC DOCUMENT COUNT:		2
CONFORMED PERIOD OF REPORT:	20250331
FILED AS OF DATE:		20250530
DATE AS OF CHANGE:		20250530
PERIOD START:           	20251231

FILER:

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			GABELLI UTILITY TRUST
		CENTRAL INDEX KEY:			0001080720
		ORGANIZATION NAME:           	
		EIN:				134046522
		STATE OF INCORPORATION:			DE
		FISCAL YEAR END:			1231

	FILING VALUES:
		FORM TYPE:		NPORT-P
		SEC ACT:		1940 Act
		SEC FILE NUMBER:	811-09243
		FILM NUMBER:		251006919

	BUSINESS ADDRESS:	
		STREET 1:		1 CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580
		BUSINESS PHONE:		9149215083

	MAIL ADDRESS:	
		STREET 1:		1 CORPORATE CENTER
		CITY:			RYE
		STATE:			NY
		ZIP:			10580

	FORMER COMPANY:	
		FORMER CONFORMED NAME:	GABELLI UTILITY FUND
		DATE OF NAME CHANGE:	19990225
</SEC-HEADER>
<DOCUMENT>
<TYPE>NPORT-P
<SEQUENCE>1
<FILENAME>primary_doc.xml
<TEXT>
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      <invstOrSec>
        <name>Matthews International Corp</name>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
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          <isin value="US912797NW34"/>
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        <assetCat>DBT</assetCat>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Energy Transfer LP</name>
        <lei>MTLVN9N7JE8MIBIJ1H73</lei>
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          <isin value="US29273V1008"/>
          <ticker value="ET"/>
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      <invstOrSec>
        <name>Tohoku Electric Power Co Inc</name>
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          <isin value="JP3605400005"/>
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      <invstOrSec>
        <name>AT&amp;T Inc</name>
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      <invstOrSec>
        <name>AZZ Inc</name>
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      <invstOrSec>
        <name>Weatherford International PLC</name>
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      <invstOrSec>
        <name>DTE Energy Co</name>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Rogers Communications Inc</name>
        <lei>5493000M6Z4XFIP6PF03</lei>
        <title>Rogers Communications Inc</title>
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          <isin value="CA7751092007"/>
          <ticker value="RCI"/>
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        <balance>24000.00000000</balance>
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        <curCd>USD</curCd>
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      <invstOrSec>
        <name>AES Corp/The</name>
        <lei>2NUNNB7D43COUIRE5295</lei>
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          <isin value="US00130H1059"/>
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        <assetCat>EC</assetCat>
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        <name>Sony Group Corp</name>
        <lei>529900R5WX9N2OI2N910</lei>
        <title>Sony Group Corp</title>
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        <name>Algonquin Power &amp; Utilities Co</name>
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        <name>Timken Co/The</name>
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        <name>Kinnevik AB</name>
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        <title>Kinnevik AB</title>
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        <name>Chubu Electric Power Co Inc</name>
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        <name>Kansai Electric Power Co Inc/T</name>
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        <name>Spire Inc</name>
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        <title>Spire Inc</title>
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        <name>Shikoku Electric Power Co Inc</name>
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        <title>Shikoku Electric Power Co Inc</title>
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        <name>York Water Co/The</name>
        <lei>N/A</lei>
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        <name>Millicom International Cellula</name>
        <lei>549300CTHC1CP86P2G96</lei>
        <title>Millicom International Cellular SA</title>
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        <name>Arcosa Inc</name>
        <lei>549300WFHLTCZV7D6V29</lei>
        <title>Arcosa Inc</title>
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        <name>Middlesex Water Co</name>
        <lei>N/A</lei>
        <title>Middlesex Water Co</title>
        <cusip>596680108</cusip>
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          <isin value="US5966801087"/>
          <ticker value="MSEX"/>
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        <invCountry>US</invCountry>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Orascom Financial Holding SAE</name>
        <lei>N/A</lei>
        <title>Orascom Financial Holding SAE</title>
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        <name>PPL Corp</name>
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      <invstOrSec>
        <name>TREASURY BILL</name>
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      <invstOrSec>
        <name>Telephone and Data Systems Inc</name>
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      <invstOrSec>
        <name>L B Foster Co</name>
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        <name>IDACORP Inc</name>
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        <name>MDU Resources Group Inc</name>
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        <name>FirstEnergy Corp</name>
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        <name>Ducommun Inc</name>
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        <name>Brookfield Renewable Corp</name>
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        <name>Liberty Global Ltd</name>
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        <name>Tele2 AB</name>
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        <name>Vodafone Group PLC</name>
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        <name>OGE Energy Corp</name>
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        <name>PrairieSky Royalty Ltd</name>
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        <name>Verizon Communications Inc</name>
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        <name>American Water Works Co Inc</name>
        <lei>549300DXHIJQMD5WFW18</lei>
        <title>American Water Works Co Inc</title>
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        <name>Zurn Elkay Water Solutions Cor</name>
        <lei>549300AM3633XDFU1Q85</lei>
        <title>Zurn Elkay Water Solutions Corp</title>
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        <name>TREASURY BILL</name>
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      <invstOrSec>
        <name>TechnipFMC PLC</name>
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      <invstOrSec>
        <name>National Fuel Gas Co</name>
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      <invstOrSec>
        <name>SDCL EDGE ACQUISITION CORP-A</name>
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      <invstOrSec>
        <name>Sempra</name>
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          <isin value="US8168511090"/>
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        <name>Cogeco Inc</name>
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        <name>Tetra Tech Inc</name>
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        <title>Tetra Tech Inc</title>
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      <invstOrSec>
        <name>Altice USA Inc</name>
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      <invstOrSec>
        <name>Chesapeake Utilities Corp</name>
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        <title>Chesapeake Utilities Corp</title>
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          <isin value="US1653031088"/>
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      <invstOrSec>
        <name>General Electric Co</name>
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          <isin value="US3696043013"/>
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      <invstOrSec>
        <name>ITV PLC</name>
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      <invstOrSec>
        <name>Eversource Energy</name>
        <lei>SJ7XXD41SQU3ZNWUJ746</lei>
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        <name>Deutsche Telekom AG</name>
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        <invCountry>DE</invCountry>
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        <name>Essential Utilities Inc</name>
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        <title>Essential Utilities Inc</title>
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          <isin value="US29670G1022"/>
          <ticker value="WTRG"/>
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        <name>Atmos Energy Corp</name>
        <lei>QVLWEGTD2S8GJMO8D383</lei>
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        <name>Linde PLC</name>
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        <name>NextEra Energy Inc</name>
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        <name>Clearway Energy Inc</name>
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        <name>Northwestern Energy Group Inc</name>
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        <name>Orange Belgium SA</name>
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        <name>Orange SA</name>
        <lei>969500MCOONR8990S771</lei>
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        <name>Flowserve Corp</name>
        <lei>6Y0GK87T6V7NJKZJVM41</lei>
        <title>Flowserve Corp</title>
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        <name>Mueller Water Products Inc</name>
        <lei>549300F7ZU4P1F8V8L60</lei>
        <title>Mueller Water Products Inc</title>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Telekom Austria AG</name>
        <lei>529900KCNFQU5OJH7L33</lei>
        <title>Telekom Austria AG</title>
        <cusip>000000000</cusip>
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          <isin value="AT0000720008"/>
          <ticker value="TKA"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Badger Meter Inc</name>
        <lei>5493002JENE20OGTUG20</lei>
        <title>Badger Meter Inc</title>
        <cusip>056525108</cusip>
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          <isin value="US0565251081"/>
          <ticker value="BMI"/>
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        <balance>400.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>76100.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>ALLETE Inc</name>
        <lei>549300NNLSIMY6Z8OT86</lei>
        <title>ALLETE Inc</title>
        <cusip>018522300</cusip>
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          <isin value="US0185223007"/>
          <ticker value="ALE"/>
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        <balance>18200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1195740.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Electric Power Development Co</name>
        <lei>549300KMHPUAQI8VEH90</lei>
        <title>Electric Power Development Co Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="JP3551200003"/>
          <ticker value="9513"/>
          <other otherDesc="SEDOL" value="B02Q328"/>
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        <balance>115000.00000000</balance>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Capstone Green Energy Corp</name>
        <lei>54930065ZCHE9KQTEZ38</lei>
        <title>Capstone Green Energy Corp</title>
        <cusip>14067D607</cusip>
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          <isin value="US14067D6076"/>
          <ticker value="CGEH"/>
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        <balance>5000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3750.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Gibraltar Industries Inc</name>
        <lei>N/A</lei>
        <title>Gibraltar Industries Inc</title>
        <cusip>374689107</cusip>
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          <isin value="US3746891072"/>
          <ticker value="ROCK"/>
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        <balance>305.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>17891.30000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Kyushu Electric Power Co Inc</name>
        <lei>549300BYNZPLKQVQH430</lei>
        <title>Kyushu Electric Power Co Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3246400000"/>
          <ticker value="9508"/>
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        <balance>22000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ABB Ltd</name>
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          <isin value="US0003752047"/>
          <ticker value="ABBNY"/>
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        <balance>21200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1105368.00000000</valUSD>
        <pctVal>0.393191475175</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Alstom SA</name>
        <lei>96950032TUYMW11FB530</lei>
        <title>Alstom SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0010220475"/>
          <ticker value="ALO"/>
          <other otherDesc="SEDOL" value="B0DJ8Q5"/>
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        <balance>548.00000000</balance>
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        <pctVal>0.004295643402</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Furukawa Electric Co Ltd</name>
        <lei>353800TJR1DQ3P1QR918</lei>
        <title>Furukawa Electric Co Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3827200001"/>
          <ticker value="5801"/>
          <other otherDesc="SEDOL" value="6357562"/>
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        <balance>7500.00000000</balance>
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        <currencyConditional curCd="JPY" exchangeRt="149.99000000"/>
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        <pctVal>0.087688587661</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hera SpA</name>
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          <isin value="IT0001250932"/>
          <ticker value="HER"/>
          <other otherDesc="SEDOL" value="7598003"/>
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        <balance>560000.00000000</balance>
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        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
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        <pctVal>0.861571703107</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
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      <invstOrSec>
        <name>Vestas Wind Systems A/S</name>
        <lei>549300DYMC8BGZZC8844</lei>
        <title>Vestas Wind Systems A/S</title>
        <cusip>000000000</cusip>
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          <isin value="DK0061539921"/>
          <ticker value="VWS"/>
          <other otherDesc="SEDOL" value="BN4MYF5"/>
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        <balance>6000.00000000</balance>
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        <currencyConditional curCd="DKK" exchangeRt="6.89965000"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>DK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Portland General Electric Co</name>
        <lei>GJOUP9M7C39GLSK9R870</lei>
        <title>Portland General Electric Co</title>
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          <isin value="US7365088472"/>
          <ticker value="POR"/>
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        <curCd>USD</curCd>
        <valUSD>2606870.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Ameren Corp</name>
        <lei>XRZQ5S7HYJFPHJ78L959</lei>
        <title>Ameren Corp</title>
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          <isin value="US0236081024"/>
          <ticker value="AEE"/>
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        <balance>17150.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1721860.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>NiSource Inc</name>
        <lei>549300D8GOWWH0SJB189</lei>
        <title>NiSource Inc</title>
        <cusip>65473P105</cusip>
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          <ticker value="NI"/>
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        <balance>48000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1924320.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>XPLR Infrastructure LP</name>
        <lei>5493008F4ZOQFNG3WN54</lei>
        <title>XPLR Infrastructure LP</title>
        <cusip>65341B106</cusip>
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          <ticker value="XIFR"/>
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        <balance>34800.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>330600.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp</title>
        <cusip>26441C204</cusip>
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          <ticker value="DUK"/>
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        <curCd>USD</curCd>
        <valUSD>8586688.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>California Water Service Group</name>
        <lei>529900QABDOBU6UVRQ36</lei>
        <title>California Water Service Group</title>
        <cusip>130788102</cusip>
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          <isin value="US1307881029"/>
          <ticker value="CWT"/>
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        <curCd>USD</curCd>
        <valUSD>1608872.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Endesa SA</name>
        <lei>549300LHK07F2CHV4X31</lei>
        <title>Endesa SA</title>
        <cusip>000000000</cusip>
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          <isin value="ES0130670112"/>
          <ticker value="ELE"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Xylem Inc/NY</name>
        <lei>549300DF5MV96DRYLQ48</lei>
        <title>Xylem Inc/NY</title>
        <cusip>98419M100</cusip>
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          <isin value="US98419M1009"/>
          <ticker value="XYL"/>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>T-Mobile US Inc</name>
        <lei>549300QHIJYOHPACPG31</lei>
        <title>T-Mobile US Inc</title>
        <cusip>872590104</cusip>
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          <isin value="US8725901040"/>
          <ticker value="TMUS"/>
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        <balance>5200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>1386892.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Xcel Energy Inc</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy Inc</title>
        <cusip>98389B100</cusip>
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          <isin value="US98389B1008"/>
          <ticker value="XEL"/>
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        <curCd>USD</curCd>
        <valUSD>9761941.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Avista Corp</name>
        <lei>Q0IK63NITJD6RJ47SW96</lei>
        <title>Avista Corp</title>
        <cusip>05379B107</cusip>
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          <isin value="US05379B1070"/>
          <ticker value="AVA"/>
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        <balance>53000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2219110.00000000</valUSD>
        <pctVal>0.789361673648</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Trinity Industries Inc</name>
        <lei>R1JB4KXN77XFCXOQKV49</lei>
        <title>Trinity Industries Inc</title>
        <cusip>896522109</cusip>
        <identifiers>
          <isin value="US8965221091"/>
          <ticker value="TRN"/>
        </identifiers>
        <balance>11200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>314272.00000000</valUSD>
        <pctVal>0.111789984228</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>EDP SA</name>
        <lei>529900CLC3WDMGI9VH80</lei>
        <title>EDP SA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="PTEDP0AM0009"/>
          <ticker value="EDP"/>
          <other otherDesc="SEDOL" value="4103596"/>
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        <balance>7595.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>25557.22000000</valUSD>
        <pctVal>0.009090982399</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CenterPoint Energy Inc</name>
        <lei>21TPXMRRHFKOBHDC8J74</lei>
        <title>CenterPoint Energy Inc</title>
        <cusip>15189T107</cusip>
        <identifiers>
          <isin value="US15189T1079"/>
          <ticker value="CNP"/>
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        <balance>8470.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>306868.10000000</valUSD>
        <pctVal>0.109156336101</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Proximus SADP</name>
        <lei>549300CWRXC5EP004533</lei>
        <title>Proximus SADP</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="BE0003810273"/>
          <ticker value="PROX"/>
          <other otherDesc="SEDOL" value="B00D9P6"/>
        </identifiers>
        <balance>9000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.92481272"/>
        <valUSD>66418.85000000</valUSD>
        <pctVal>0.023625910656</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>BE</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Valmont Industries Inc</name>
        <lei>5493009ZGZJJ8F77JN08</lei>
        <title>Valmont Industries Inc</title>
        <cusip>920253101</cusip>
        <identifiers>
          <isin value="US9202531011"/>
          <ticker value="VMI"/>
        </identifiers>
        <balance>1050.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>299638.50000000</valUSD>
        <pctVal>0.106584688388</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>GAM Holding AG</name>
        <lei>549300GGVID7ZGDMX291</lei>
        <title>GAM Holding AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0102659627"/>
          <ticker value="GAM"/>
          <other otherDesc="SEDOL" value="B1WHVV3"/>
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        <balance>150000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88470000"/>
        <valUSD>15089.86000000</valUSD>
        <pctVal>0.005367628078</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>WEC Energy Group Inc</name>
        <lei>549300IGLYTZUK3PVP70</lei>
        <title>WEC Energy Group Inc</title>
        <cusip>92939U106</cusip>
        <identifiers>
          <isin value="US92939U1060"/>
          <ticker value="WEC"/>
        </identifiers>
        <balance>117670.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>12823676.60000000</valUSD>
        <pctVal>4.561521881879</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Knife River Corp</name>
        <lei>N/A</lei>
        <title>Knife River Corp</title>
        <cusip>498894104</cusip>
        <identifiers>
          <isin value="US4988941047"/>
          <ticker value="KNF"/>
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        <balance>2500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>225525.00000000</valUSD>
        <pctVal>0.080221706652</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SolarEdge Technologies Inc</name>
        <lei>5493000K6Y58XXPDF853</lei>
        <title>SolarEdge Technologies Inc</title>
        <cusip>83417M104</cusip>
        <identifiers>
          <isin value="US83417M1045"/>
          <ticker value="SEDG"/>
        </identifiers>
        <balance>300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4854.00000000</valUSD>
        <pctVal>0.001726620836</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IL</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>National Grid PLC</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>National Grid PLC</title>
        <cusip>636274409</cusip>
        <identifiers>
          <isin value="US6362744095"/>
          <ticker value="NGG"/>
        </identifiers>
        <balance>66000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4330260.00000000</valUSD>
        <pctVal>1.540320795693</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Hokuriku Electric Power Co</name>
        <lei>353800Z4ZNGBULYR8W57</lei>
        <title>Hokuriku Electric Power Co</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="JP3845400005"/>
          <ticker value="9505"/>
          <other otherDesc="SEDOL" value="6433127"/>
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        <balance>13000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="JPY" exchangeRt="149.99000000"/>
        <valUSD>72293.49000000</valUSD>
        <pctVal>0.025715584292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Eos Energy Enterprises Inc</name>
        <lei>N/A</lei>
        <title>Eos Energy Enterprises Inc</title>
        <cusip>29415C101</cusip>
        <identifiers>
          <isin value="US29415C1018"/>
          <ticker value="EOSE"/>
        </identifiers>
        <balance>4200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>15876.00000000</valUSD>
        <pctVal>0.005647266665</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>America Movil SAB de CV</name>
        <lei>5493000FNR3UCEAONM59</lei>
        <title>America Movil SAB de CV</title>
        <cusip>02390A101</cusip>
        <identifiers>
          <isin value="US02390A1016"/>
          <ticker value="AMX"/>
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        <balance>5000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>71100.00000000</valUSD>
        <pctVal>0.025291046859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>MX</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Exxon Mobil Corp</name>
        <lei>J3WHBG0MTS7O8ZVMDC91</lei>
        <title>Exxon Mobil Corp</title>
        <cusip>30231G102</cusip>
        <identifiers>
          <isin value="US30231G1022"/>
          <ticker value="XOM"/>
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        <balance>16500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1962345.00000000</valUSD>
        <pctVal>0.698027557658</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>TXNM Energy Inc</name>
        <lei>5493003JOBJGLZSDDQ28</lei>
        <title>TXNM Energy Inc</title>
        <cusip>69349H107</cusip>
        <identifiers>
          <isin value="US69349H1077"/>
          <ticker value="TXNM"/>
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        <balance>82950.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>4436166.00000000</valUSD>
        <pctVal>1.577992717053</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>ONE Gas Inc</name>
        <lei>549300HXDWI0LATTX840</lei>
        <title>ONE Gas Inc</title>
        <cusip>68235P108</cusip>
        <identifiers>
          <isin value="US68235P1084"/>
          <ticker value="OGS"/>
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        <balance>30300.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2290377.00000000</valUSD>
        <pctVal>0.814712124232</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
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      <invstOrSec>
        <name>American States Water Co</name>
        <lei>529900L26LIS2V8PWM23</lei>
        <title>American States Water Co</title>
        <cusip>029899101</cusip>
        <identifiers>
          <isin value="US0298991011"/>
          <ticker value="AWR"/>
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        <balance>26000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>2045680.00000000</valUSD>
        <pctVal>0.727670727700</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>RGC Resources Inc</name>
        <lei>N/A</lei>
        <title>RGC Resources Inc</title>
        <cusip>74955L103</cusip>
        <identifiers>
          <isin value="US74955L1035"/>
          <ticker value="RGCO"/>
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        <balance>55000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1147850.00000000</valUSD>
        <pctVal>0.408302786746</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>DT Midstream Inc</name>
        <lei>N/A</lei>
        <title>DT Midstream Inc</title>
        <cusip>23345M107</cusip>
        <identifiers>
          <isin value="US23345M1071"/>
          <ticker value="DTM"/>
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        <balance>8000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>771840.00000000</valUSD>
        <pctVal>0.274551921350</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>American Electric Power Co Inc</name>
        <lei>1B4S6S7G0TW5EE83BO58</lei>
        <title>American Electric Power Co Inc</title>
        <cusip>025537101</cusip>
        <identifiers>
          <isin value="US0255371017"/>
          <ticker value="AEP"/>
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        <balance>49950.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>5458036.50000000</valUSD>
        <pctVal>1.941483219160</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Landis+Gyr Group AG</name>
        <lei>529900PZYVAKCYSLFL19</lei>
        <title>Landis+Gyr Group AG</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="CH0371153492"/>
          <ticker value="LAND"/>
          <other otherDesc="SEDOL" value="BF41XY8"/>
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        <balance>2800.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="CHF" exchangeRt="0.88470000"/>
        <valUSD>165208.55000000</valUSD>
        <pctVal>0.058766486352</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Everus Construction Group Inc</name>
        <lei>N/A</lei>
        <title>Everus Construction Group Inc</title>
        <cusip>300426103</cusip>
        <identifiers>
          <isin value="US3004261034"/>
          <ticker value="ECG"/>
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        <balance>2500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>92725.00000000</valUSD>
        <pctVal>0.032983295640</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Unitil Corp</name>
        <lei>N/A</lei>
        <title>Unitil Corp</title>
        <cusip>913259107</cusip>
        <identifiers>
          <isin value="US9132591077"/>
          <ticker value="UTL"/>
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        <balance>17000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>980730.00000000</valUSD>
        <pctVal>0.348856376744</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Turkcell Iletisim Hizmetleri A</name>
        <lei>7890003EX1LTLS2FFL84</lei>
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        <cusip>900111204</cusip>
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          <isin value="US9001112047"/>
          <ticker value="TKC"/>
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        <balance>60000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>373200.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>TR</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CMS Energy Corp</name>
        <lei>549300IA9XFBAGNIBW29</lei>
        <title>CMS Energy Corp</title>
        <cusip>125896100</cusip>
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          <isin value="US1258961002"/>
          <ticker value="CMS"/>
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        <balance>79844.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5997082.84000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Deutsche Telekom AG</name>
        <lei>549300V9QSIG4WX4GJ96</lei>
        <title>Deutsche Telekom AG</title>
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          <isin value="DE0005557508"/>
          <ticker value="DTE"/>
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        <assetCat>EC</assetCat>
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        <invCountry>DE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Enbridge Inc</name>
        <lei>98TPTUM4IVMFCZBCUR27</lei>
        <title>Enbridge Inc</title>
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          <isin value="CA29250N1050"/>
          <ticker value="ENB"/>
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        <curCd>USD</curCd>
        <valUSD>4386690.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BCE Inc</name>
        <lei>5493001I9203PRB5KR45</lei>
        <title>BCE Inc</title>
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          <isin value="CA05534B7604"/>
          <ticker value="BCE"/>
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        <curCd>USD</curCd>
        <valUSD>229600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUANENG POWER</name>
        <lei>529900WU0SMVKMPG4V21</lei>
        <title>Huaneng Power International Inc</title>
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          <isin value="CNE1000006Z4"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CN</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Telefonica SA</name>
        <lei>549300EEJH4FEPDBBR25</lei>
        <title>Telefonica SA</title>
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          <isin value="US8793822086"/>
          <ticker value="TEF"/>
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        <curCd>USD</curCd>
        <valUSD>1165000.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>ES</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Pharol SGPS SA</name>
        <lei>549300JNP3LA8FWLU630</lei>
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          <isin value="PTPTC0AM0009"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>PT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Evergy Inc</name>
        <lei>549300PGTHDQY6PSUI61</lei>
        <title>Evergy Inc</title>
        <cusip>30034W106</cusip>
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          <isin value="US30034W1062"/>
          <ticker value="EVRG"/>
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        <curCd>USD</curCd>
        <valUSD>9273775.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Edison International</name>
        <lei>549300I7ROF15MAEVP56</lei>
        <title>Edison International</title>
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          <isin value="US2810201077"/>
          <ticker value="EIX"/>
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        <balance>54500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3211140.00000000</valUSD>
        <pctVal>1.142237583859</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BCE Inc</name>
        <lei>5493001I9203PRB5KR45</lei>
        <title>BCE Inc</title>
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          <isin value="CA05534B7604"/>
          <ticker value="BCE"/>
          <other otherDesc="SEDOL" value="B188TH2"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Fluidra SA</name>
        <lei>95980020140005026620</lei>
        <title>Fluidra SA</title>
        <cusip>000000000</cusip>
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          <isin value="ES0137650018"/>
          <ticker value="FDR"/>
          <other otherDesc="SEDOL" value="B28V440"/>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ES</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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      <invstOrSec>
        <name>Constellation Energy Corp</name>
        <lei>549300F8Y20RYGNGV346</lei>
        <title>Constellation Energy Corp</title>
        <cusip>21037T109</cusip>
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          <isin value="US21037T1097"/>
          <ticker value="CEG"/>
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        <curCd>USD</curCd>
        <valUSD>3830970.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Entergy Corp</name>
        <lei>4XM3TW50JULSLG8BNC79</lei>
        <title>Entergy Corp</title>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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        <name>NTT</name>
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        <title>Nippon Telegraph &amp; Telephone Corp</title>
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        <assetCat>EC</assetCat>
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        <invCountry>JP</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Severn Trent PLC</name>
        <lei>213800RPBXRETY4A4C59</lei>
        <title>Severn Trent PLC</title>
        <cusip>000000000</cusip>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Engie SA</name>
        <lei>LAXUQCHT4FH58LRZDY46</lei>
        <title>Engie SA</title>
        <cusip>000000000</cusip>
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        <name>Venture Global Inc</name>
        <lei>2549007XC91CAB3E0N98</lei>
        <title>Venture Global Inc</title>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Cheniere Energy Inc</name>
        <lei>MIHC87W9WTYSYZWV1J40</lei>
        <title>Cheniere Energy Inc</title>
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      <invstOrSec>
        <name>Hawaiian Electric Industries I</name>
        <lei>JJ8FWOCWCV22X7GUPJ23</lei>
        <title>Hawaiian Electric Industries Inc</title>
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          <ticker value="HE"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Resideo Technologies Inc</name>
        <lei>5493006TKFPYISY2DS54</lei>
        <title>Resideo Technologies Inc</title>
        <cusip>76118Y104</cusip>
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          <ticker value="REZI"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>SMARTONE TELE</name>
        <lei>529900CT7EGMVQRYNQ45</lei>
        <title>SmarTone Telecommunications Holdings Ltd</title>
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          <isin value="BMG8219Z1059"/>
          <ticker value="315"/>
          <other otherDesc="SEDOL" value="6856995"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>HK</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Accelleron Industries AG</name>
        <lei>254900KS0MD2PAARXD14</lei>
        <title>Accelleron Industries AG</title>
        <cusip>00449R109</cusip>
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          <isin value="US00449R1095"/>
          <ticker value="ACLLY"/>
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        <balance>1200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>55080.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Consolidated Edison Inc</name>
        <lei>54930033SBW53OO8T749</lei>
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          <isin value="US2091151041"/>
          <ticker value="ED"/>
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        <balance>29000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3207110.00000000</valUSD>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>EchoStar Corp</name>
        <lei>549300EE20907QZ9GT38</lei>
        <title>EchoStar Corp</title>
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          <isin value="US2787681061"/>
          <ticker value="SATS"/>
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        <balance>20000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>511600.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Exelon Corp</name>
        <lei>3SOUA6IRML7435B56G12</lei>
        <title>Exelon Corp</title>
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          <isin value="US30161N1019"/>
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        <curCd>USD</curCd>
        <valUSD>3032064.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>CNH Industrial NV</name>
        <lei>549300WGC2HZ5J67V817</lei>
        <title>CNH Industrial NV</title>
        <cusip>000000000</cusip>
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          <isin value="NL0010545661"/>
          <ticker value="CNH"/>
          <other otherDesc="SEDOL" value="BDX85Z1"/>
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        <curCd>USD</curCd>
        <valUSD>2603360.00000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cia de Minas Buenaventura SAA</name>
        <lei>529900WQB1ZU9KB6EL71</lei>
        <title>Cia de Minas Buenaventura SAA</title>
        <cusip>204448104</cusip>
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          <isin value="US2044481040"/>
          <ticker value="BVN"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>468900.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>PE</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chart Industries Inc</name>
        <lei>EM7QGKC1GYOF3LSZSL80</lei>
        <title>Chart Industries Inc</title>
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          <isin value="US16115Q3083"/>
          <ticker value="GTLS"/>
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        <curCd>USD</curCd>
        <valUSD>43308.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Cameco Corp</name>
        <lei>N4BHALMXL3GMZKCUON55</lei>
        <title>Cameco Corp</title>
        <cusip>13321L108</cusip>
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          <isin value="CA13321L1085"/>
          <ticker value="CCJ"/>
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        <balance>55642.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>2290224.72000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Medmix AG</name>
        <lei>N/A</lei>
        <title>Medmix AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH1129677105"/>
          <ticker value="MEDX"/>
          <other otherDesc="SEDOL" value="BNZGVK0"/>
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        <balance>300.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Eurotelesites AG</name>
        <lei>5299007TJV9W1OY91Y28</lei>
        <title>Eurotelesites AG</title>
        <cusip>000000000</cusip>
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          <isin value="AT000000ETS9"/>
          <ticker value="ETS"/>
          <other otherDesc="SEDOL" value="BNQN4T0"/>
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        <pctVal>0.042338172862</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>AT</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Sunrise Communications AG</name>
        <lei>529900N9U6KXXOUJT875</lei>
        <title>Sunrise Communications AG</title>
        <cusip>000000000</cusip>
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          <isin value="CH1386220409"/>
          <ticker value="SUNN"/>
          <other otherDesc="SEDOL" value="BM9WB18"/>
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        <balance>38000.00000000</balance>
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        <currencyConditional curCd="CHF" exchangeRt="0.88470000"/>
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        <pctVal>0.652398044951</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Veolia Environnement SA</name>
        <lei>969500LENY69X51OOT31</lei>
        <title>Veolia Environnement SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000124141"/>
          <ticker value="VIE"/>
          <other otherDesc="SEDOL" value="4031879"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>Emera Inc</name>
        <lei>NQZVQT2P5IUF2PGA1Q48</lei>
        <title>Emera Inc</title>
        <cusip>290876101</cusip>
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          <isin value="CA2908761018"/>
          <ticker value="EMA"/>
          <other otherDesc="SEDOL" value="2650050"/>
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        <balance>7000.00000000</balance>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>CA</invCountry>
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        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Southwest Gas Holdings Inc</name>
        <lei>254900LKF9EV0CUKNE09</lei>
        <title>Southwest Gas Holdings Inc</title>
        <cusip>844895102</cusip>
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          <isin value="US8448951025"/>
          <ticker value="SWX"/>
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        <balance>129615.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Liberty Latin America Ltd</name>
        <lei>213800YWQHEAX7CAVO83</lei>
        <title>Liberty Latin America Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG9001E1286"/>
          <ticker value="LILAK"/>
          <other otherDesc="SEDOL" value="BD9Q3Q6"/>
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        <balance>5947.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>36930.87000000</valUSD>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Telesat Corp</name>
        <lei>N/A</lei>
        <title>Telesat Corp</title>
        <cusip>879512309</cusip>
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          <isin value="CA8795123097"/>
          <ticker value="TSAT"/>
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        <balance>30000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>564900.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>CA</invCountry>
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      <invstOrSec>
        <name>Enel SpA</name>
        <lei>WOCMU6HCI0OJWNPRZS33</lei>
        <title>Enel SpA</title>
        <cusip>000000000</cusip>
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          <isin value="IT0003128367"/>
          <ticker value="ENEL"/>
          <other otherDesc="SEDOL" value="7144569"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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      <invstOrSec>
        <name>Pinnacle West Capital Corp</name>
        <lei>TWSEY0NEDUDCKS27AH81</lei>
        <title>Pinnacle West Capital Corp</title>
        <cusip>723484101</cusip>
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          <isin value="US7234841010"/>
          <ticker value="PNW"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <name>Bouygues SA</name>
        <lei>969500MOCLNQFNZN0D63</lei>
        <title>Bouygues SA</title>
        <cusip>000000000</cusip>
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          <isin value="FR0000120503"/>
          <ticker value="EN"/>
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        <assetCat>EC</assetCat>
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        <invCountry>FR</invCountry>
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      <invstOrSec>
        <name>National Grid PLC</name>
        <lei>8R95QZMKZLJX5Q2XR704</lei>
        <title>National Grid PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB00BDR05C01"/>
          <ticker value="NG/"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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      <invstOrSec>
        <name>Innovex International Inc</name>
        <lei>5299007REICYIJNMW197</lei>
        <title>Innovex International Inc</title>
        <cusip>457651107</cusip>
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          <isin value="US4576511079"/>
          <ticker value="INVX"/>
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        <valUSD>350220.00000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Allient Inc</name>
        <lei>549300I2LHAWYGNBPM97</lei>
        <title>Allient Inc</title>
        <cusip>019330109</cusip>
        <identifiers>
          <isin value="US0193301092"/>
          <ticker value="ALNT"/>
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        <balance>1200.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>26376.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Ormat Technologies Inc</name>
        <lei>5493000TSHHWY24VHM09</lei>
        <title>Ormat Technologies Inc</title>
        <cusip>686688102</cusip>
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          <isin value="US6866881021"/>
          <ticker value="ORA"/>
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        <balance>12500.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>884625.00000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Hokkaido Electric Power Co Inc</name>
        <lei>353800XDXIIZDHUO0J51</lei>
        <title>Hokkaido Electric Power Co Inc</title>
        <cusip>000000000</cusip>
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          <isin value="JP3850200001"/>
          <ticker value="9509"/>
          <other otherDesc="SEDOL" value="6431325"/>
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        <balance>15000.00000000</balance>
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      <invstOrSec>
        <name>Air Products and Chemicals Inc</name>
        <lei>7QEON6Y1RL5XR3R1W237</lei>
        <title>Air Products and Chemicals Inc</title>
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          <isin value="US0091581068"/>
          <ticker value="APD"/>
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      <invstOrSec>
        <name>Iberdrola SA</name>
        <lei>5QK37QC7NWOJ8D7WVQ45</lei>
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        <invCountry>ES</invCountry>
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      <invstOrSec>
        <name>Liberty Latin America Ltd</name>
        <lei>213800YWQHEAX7CAVO83</lei>
        <title>Liberty Latin America Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="BMG9001E1021"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>

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        <name>Anterix Inc</name>
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          <isin value="US03676C1009"/>
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      <invstOrSec>
        <name>GATX Corp</name>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Halliburton Co</name>
        <lei>ENYF8GB5SMQZ25S06U51</lei>
        <title>Halliburton Co</title>
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          <isin value="US4062161017"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Iveco Group NV</name>
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          <isin value="NL0015000LU4"/>
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        <assetCat>EC</assetCat>
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        <invCountry>IT</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
        <cusip>912797LN5</cusip>
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          <isin value="US912797LN52"/>
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        <balance>290000.00000000</balance>
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        <curCd>USD</curCd>
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        <assetCat>DBT</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2025-06-12</maturityDt>
          <couponKind>None</couponKind>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>BT Group PLC</name>
        <lei>213800LRO7NS5CYQMN21</lei>
        <title>BT Group PLC</title>
        <cusip>000000000</cusip>
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          <isin value="GB0030913577"/>
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        <assetCat>EC</assetCat>
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        <invCountry>GB</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Northwest Natural Holding Co</name>
        <lei>254900PSJL6ZEC8FR782</lei>
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        <invCountry>US</invCountry>
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      <invstOrSec>
        <name>Black Hills Corp</name>
        <lei>3MGELCRSTNSAMJ962671</lei>
        <title>Black Hills Corp</title>
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          <ticker value="BKH"/>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Schlumberger NV</name>
        <lei>213800ZUA17OK3QLGM62</lei>
        <title>Schlumberger NV</title>
        <cusip>806857108</cusip>
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          <isin value="AN8068571086"/>
          <ticker value="SLB"/>
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        <curCd>USD</curCd>
        <valUSD>52793.40000000</valUSD>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>HUTCHTEL HK</name>
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        <title>Hutchison Telecommunications Hong Kong Holdings Ltd</title>
        <cusip>000000000</cusip>
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          <isin value="KYG4672G1064"/>
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        <invCountry>HK</invCountry>
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      <invstOrSec>
        <name>Sulzer AG</name>
        <lei>529900NZ6MAST5IJF669</lei>
        <title>Sulzer AG</title>
        <cusip>000000000</cusip>
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        <assetCat>EC</assetCat>
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        <invCountry>CH</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>ONEOK Inc</name>
        <lei>2T3D6M0JSY48PSZI1Q41</lei>
        <title>ONEOK Inc</title>
        <cusip>682680103</cusip>
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          <ticker value="OKE"/>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Dominion Energy Inc</name>
        <lei>ILUL7B6Z54MRYCF6H308</lei>
        <title>Dominion Energy Inc</title>
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          <ticker value="D"/>
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        <name>Graham Corp</name>
        <lei>254900EI9P4LTY524J77</lei>
        <title>Graham Corp</title>
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        <name>SJW Group</name>
        <lei>N/A</lei>
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        <name>ITT Inc</name>
        <lei>549300KDSERHTJOXUS80</lei>
        <title>ITT Inc</title>
        <cusip>45073V108</cusip>
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        <name>NRG Energy Inc</name>
        <lei>5E2UPK5SW04M13XY7I38</lei>
        <title>NRG Energy Inc</title>
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        <name>Orascom Investment Holding</name>
        <lei>549300UT4N1DC4S2ZB61</lei>
        <title>Orascom Investment Holding</title>
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          <ticker value="OIH"/>
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        <assetCat>EC</assetCat>
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        <invCountry>EG</invCountry>
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        <name>United States Cellular Corp</name>
        <lei>549300B164AZXESI6E03</lei>
        <title>United States Cellular Corp</title>
        <cusip>911684108</cusip>
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          <ticker value="USM"/>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Mueller Industries Inc</name>
        <lei>5493005IZFE4VJLLYG84</lei>
        <title>Mueller Industries Inc</title>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Otter Tail Corp</name>
        <lei>N/A</lei>
        <title>Otter Tail Corp</title>
        <cusip>689648103</cusip>
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          <isin value="US6896481032"/>
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        <assetCat>EC</assetCat>
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      <invstOrSec>
        <name>Artesian Resources Corp</name>
        <lei>N/A</lei>
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        <cusip>043113208</cusip>
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          <isin value="US0431132085"/>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>SK Telecom Co Ltd</name>
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      <invstOrSec>
        <name>Indosat Tbk PT</name>
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        <title>Indosat Tbk PT</title>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>ID</invCountry>
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        <fairValLevel>1</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
        <name>Chugoku Electric Power Co Inc/</name>
        <lei>353800MV866ELME96Q46</lei>
        <title>Chugoku Electric Power Co Inc/The</title>
        <cusip>000000000</cusip>
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          <isin value="JP3522200009"/>
          <ticker value="9504"/>
          <other otherDesc="SEDOL" value="6195900"/>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>JP</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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      <invstOrSec>
        <name>Tidewater Inc</name>
        <lei>2549000JA5GRUPLMUH98</lei>
        <title>Tidewater Inc</title>
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          <isin value="US88642R1095"/>
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        <name>Cogeco Communications Inc</name>
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        <name>Charter Communications Inc</name>
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      <invstOrSec>
        <name>Kinder Morgan Inc</name>
        <lei>549300WR7IX8XE0TBO16</lei>
        <title>Kinder Morgan Inc</title>
        <cusip>49456B101</cusip>
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          <isin value="US49456B1017"/>
          <ticker value="KMI"/>
        </identifiers>
        <balance>103000.00000000</balance>
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        <valUSD>2938590.00000000</valUSD>
        <pctVal>1.045288570898</pctVal>
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        <invCountry>US</invCountry>
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          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Southern Co/The</name>
        <lei>549300FC3G3YU2FBZD92</lei>
        <title>Southern Co/The</title>
        <cusip>842587107</cusip>
        <identifiers>
          <isin value="US8425871071"/>
          <ticker value="SO"/>
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        <balance>3500.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>321825.00000000</valUSD>
        <pctVal>0.114476668854</pctVal>
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        <assetCat>EC</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
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          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
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      </invstOrSec>
      <invstOrSec>
        <name>Public Service Enterprise Grou</name>
        <lei>PUSS41EMO3E6XXNV3U28</lei>
        <title>Public Service Enterprise Group Inc</title>
        <cusip>744573106</cusip>
        <identifiers>
          <isin value="US7445731067"/>
          <ticker value="PEG"/>
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        <balance>31673.00000000</balance>
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        <valUSD>2606687.90000000</valUSD>
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        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        <fairValLevel>1</fairValLevel>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Keysight Technologies Inc</name>
        <lei>549300GLKVIO8YRCYN02</lei>
        <title>Keysight Technologies Inc</title>
        <cusip>49338L103</cusip>
        <identifiers>
          <isin value="US49338L1035"/>
          <ticker value="KEYS"/>
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        <balance>2000.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>299540.00000000</valUSD>
        <pctVal>0.106549650862</pctVal>
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        <invCountry>US</invCountry>
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      </invstOrSec>
      <invstOrSec>
        <name>TREASURY BILL</name>
        <lei>254900HROIFWPRGM1V77</lei>
        <title>United States Treasury Bill</title>
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          <isin value="US912797NP82"/>
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        <fairValLevel>2</fairValLevel>
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          <couponKind>None</couponKind>
          <annualizedRt>0.00000000</annualizedRt>
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          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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      </invstOrSec>
      <invstOrSec>
        <name>Alliant Energy Corp</name>
        <lei>5493009ML300G373MZ12</lei>
        <title>Alliant Energy Corp</title>
        <cusip>018802108</cusip>
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          <isin value="US0188021085"/>
          <ticker value="LNT"/>
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        <balance>78345.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>5041500.75000000</valUSD>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2025-05-29</ncom:dateSigned>
      <ncom:nameOfApplicant>Gabelli Utility Trust</ncom:nameOfApplicant>
      <ncom:signature>John C. Ball</ncom:signature>
      <ncom:signerName>John C. Ball</ncom:signerName>
      <ncom:title>Treasurer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
</XML>
</TEXT>
</DOCUMENT>
<DOCUMENT>
<TYPE>NPORT-EX
<SEQUENCE>2
<FILENAME>GB19GB033125.htm
<TEXT>
<html>
<head>
<title></title>
<!--Uncomment the following meta tag to help resolve IE/Edge rendering problems. This tag cannot be uncommented in an SEC submission or it will be rejected.-->
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</head><body style="margin: 0px"><div style="page-break-after:always;margin:-8px;position:relative;height:1296px;width:1080px;transform-origin:top left;transform:scale(2,2)"><div style="position:absolute;top:0px;left:0px;width:540px;height:648px">
		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">1</div></div>
		</div>
		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.84px;white-space:nowrap">The Gabelli Utility Trust</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAB/gAAAATCAYAAACUadXJAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA6ElEQVR4Xu3ZwQ2AMBDAsAN1/52YDEbos0Sy39kg18y8AwAAAAAAAAD82r0LAAAAAAAAAIDzDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAAIMfgAAAAAAAAAIMPgBAAAAAAAAIMDgBwAAAAAAAIAAgx8AAAAAAAAAAgx+AAAAAAAAAAgw+AEAAAAAAAAgwOAHAAAAAAAAgACDHwAAAAAAAAACDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAALWzDy7CAAAAAAAAAA46wMQOQHom10yKQAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px"></div></div>
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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">








































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS&#160;&#8212; 90.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">ENERGY AND UTILITIES&#160;&#8212; 76.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Alternative Energy&#160;&#8212; 0.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;white-space:nowrap">Algonquin Power &amp; Utilities Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-5px;white-space:nowrap">	$		514,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Brookfield Renewable Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			82,364&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			3,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;letter-spacing:0.32px;white-space:nowrap">Clearway Energy Inc., Cl.&#160;C </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			90,810&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:1007px;white-space:nowrap">Eos Energy Enterprises Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			15,876&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:1007px;white-space:nowrap">Landis+Gyr Group AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:3815px;letter-spacing:-5px;white-space:nowrap">			165,209&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Ormat Technologies Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:3815px;letter-spacing:-5px;white-space:nowrap">			884,625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:0px;letter-spacing:-10px;white-space:nowrap">			600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:1007px;white-space:nowrap">Orsted AS&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			26,210&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:0px;letter-spacing:-10px;white-space:nowrap">			300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">SolarEdge Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:3815px;letter-spacing:-6.67px;white-space:nowrap">			4,854&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:1007px;letter-spacing:-0.41px;white-space:nowrap">Vestas Wind Systems A/S&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2630.53px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			82,543&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			34,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:1007px;white-space:nowrap">XPLR Infrastructure LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2825.41px;left:3815px;letter-spacing:-5px;white-space:nowrap">			330,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3020.29px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,197,091&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3309.53px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified Industrial&#160;&#8212; 1.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:0px;letter-spacing:-10px;white-space:nowrap">			548&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:1007px;white-space:nowrap">Alstom SA&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			12,076&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			15,222&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:1007px;white-space:nowrap">AZZ Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:1540.76px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,272,712&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:1007px;white-space:nowrap">Bouygues SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:3815px;letter-spacing:-5px;white-space:nowrap">			669,292&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:0px;letter-spacing:-10px;white-space:nowrap">			300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:1007px;white-space:nowrap">Chart Industries Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4089.04px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			43,308&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:1007px;white-space:nowrap">General Electric Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4283.92px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,001,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:0px;letter-spacing:-10px;white-space:nowrap">			100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:1007px;white-space:nowrap">Sulzer AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4478.8px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			16,932&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4673.67px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,015,820&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4962.91px;left:1007px;white-space:nowrap">Electric Integrated&#160;&#8212; 41.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			18,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:1007px;white-space:nowrap">ALLETE Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5157.79px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,195,740&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			78,345&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Alliant Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5352.67px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,041,501&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			17,150&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:1007px;white-space:nowrap">Ameren Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5547.54px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,721,860&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			49,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:1007px;white-space:nowrap">American Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5742.42px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,458,036&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			53,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:1007px;letter-spacing:-0.41px;white-space:nowrap">Avista Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5937.3px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,219,110&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:0px;letter-spacing:-10px;white-space:nowrap">			400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:1007px;white-space:nowrap">Badger Meter Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6132.18px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			76,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			33,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:1007px;white-space:nowrap">Black Hills Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6327.06px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,001,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,470&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:1007px;white-space:nowrap">CenterPoint Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6521.93px;left:3815px;letter-spacing:-5px;white-space:nowrap">			306,868&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			79,844&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:1007px;white-space:nowrap">CMS Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6716.81px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,997,083&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			45,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:1007px;white-space:nowrap">Dominion Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6911.69px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,551,185&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7106.57px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			16,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7106.57px;left:1007px;white-space:nowrap">DTE Energy Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7106.57px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7106.57px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,322,936&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7301.45px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			70,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7301.45px;left:1007px;white-space:nowrap">Duke Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7301.45px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7301.45px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,586,688&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7496.32px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			54,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7496.32px;left:1007px;white-space:nowrap">Edison International </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7496.32px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7496.32px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,211,140&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:1007px;white-space:nowrap">Emera Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7691.2px;left:3815px;letter-spacing:-5px;white-space:nowrap">			294,826&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:1007px;white-space:nowrap">Entergy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7886.08px;left:3815px;letter-spacing:-5px;white-space:nowrap">			675,371&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:0px;letter-spacing:-5px;white-space:nowrap">			134,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:1007px;white-space:nowrap">Evergy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8080.96px;left:3815px;letter-spacing:-4px;white-space:nowrap">			9,273,775&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:0px;letter-spacing:-5px;white-space:nowrap">			120,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:1007px;letter-spacing:-0.29px;white-space:nowrap">Eversource Energy </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8275.84px;left:3815px;letter-spacing:-4px;white-space:nowrap">			7,509,099&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			98,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:1007px;white-space:nowrap">FirstEnergy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8470.71px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,969,244&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:1007px;white-space:nowrap">Hawaiian Electric Industries Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8665.59px;left:3815px;letter-spacing:-5px;white-space:nowrap">			219,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:1007px;white-space:nowrap">IDACORP Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8860.47px;left:3815px;letter-spacing:-5px;white-space:nowrap">			546,234&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			56,700&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:1007px;white-space:nowrap">MGE Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9055.35px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,270,832&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:0px;letter-spacing:-5px;white-space:nowrap">			183,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:1007px;white-space:nowrap">NextEra Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9250.23px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			13,036,671&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			48,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">NiSource Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9445.1px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,924,320&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			72,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:1007px;white-space:nowrap">Northwestern Energy Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9639.98px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,195,575&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			18,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:1007px;white-space:nowrap">NRG Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9834.86px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,718,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:0px;letter-spacing:-5px;white-space:nowrap">			178,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:1007px;white-space:nowrap">OGE Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10029.74px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,180,880&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			56,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:1007px;letter-spacing:-2.37px;white-space:nowrap">Otter Tail Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10224.61px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,540,905&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			54,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:1007px;white-space:nowrap">PG&amp;E Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10419.49px;left:3815px;letter-spacing:-5px;white-space:nowrap">			941,464&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;letter-spacing:-0.58px;white-space:nowrap">Pinnacle West Capital Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">	$		104,775&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			58,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;white-space:nowrap">Portland General Electric Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,606,870&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			22,240&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;white-space:nowrap">PPL Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			803,086&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			31,673&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;white-space:nowrap">Public Service Enterprise Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,606,688&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,989&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;white-space:nowrap">Sempra </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6551.96px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			141,935&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			3,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;white-space:nowrap">The Southern Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			321,825&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			82,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6018.2px;white-space:nowrap">TXNM Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,436,166&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			17,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:6018.2px;white-space:nowrap">Unitil Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			980,730&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			117,670&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:6018.2px;white-space:nowrap">WEC Energy Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2045.9px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			12,823,677&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			137,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:6018.2px;white-space:nowrap">Xcel Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2240.78px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			9,761,941&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2435.66px;left:8826.2px;letter-spacing:-3.33px;white-space:nowrap">			137,573,866&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2724.89px;left:6018.2px;letter-spacing:-0.91px;white-space:nowrap">Electric Transmission and Distribution&#160;&#8212; 3.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			29,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:6018.2px;white-space:nowrap">Consolidated Edison Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,207,110&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			19,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:6018.2px;letter-spacing:0.01px;white-space:nowrap">Constellation Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3114.65px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,830,970&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			65,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:6018.2px;white-space:nowrap">Exelon Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3309.53px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,032,064&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:6018.2px;white-space:nowrap">Iberdrola SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3504.41px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,615,462&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:6018.2px;letter-spacing:-0.41px;white-space:nowrap">The Timken Co.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:6997.39px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3699.28px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			21,561&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3894.16px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			11,707,167&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4183.4px;left:6018.2px;white-space:nowrap">Environmental Services&#160;&#8212; 0.3%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:6018.2px;white-space:nowrap">Fluidra SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4378.28px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			18,737&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:6018.2px;letter-spacing:-2.37px;white-space:nowrap">Tetra Tech Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4573.15px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			14,625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			27,712&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:6018.2px;letter-spacing:-0.41px;white-space:nowrap">Veolia Environnement SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:7619.48px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4768.03px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			951,388&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4962.91px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			984,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5252.15px;left:6018.2px;white-space:nowrap">Equipment and Supplies&#160;&#8212; 1.4%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.03px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.03px;left:6018.2px;white-space:nowrap">Capstone Green Energy Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.03px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.03px;left:8826.2px;letter-spacing:-6.67px;white-space:nowrap">			3,750&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5641.9px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,396&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5641.9px;left:6018.2px;white-space:nowrap">Graham Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5641.9px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5641.9px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			40,233&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			19,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:6018.2px;white-space:nowrap">Innovex International Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5836.78px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			350,220&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:6018.2px;letter-spacing:-0.32px;white-space:nowrap">MDU Resources Group Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6031.66px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			169,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			48,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Mueller Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6226.54px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,692,790&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			103&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:6018.2px;letter-spacing:-0.29px;white-space:nowrap">Tidewater Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6421.42px;left:8826.2px;letter-spacing:-6.67px;white-space:nowrap">			4,354&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,050&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">Valmont Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6616.29px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			299,638&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6811.17px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,560,085&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7100.41px;left:6018.2px;white-space:nowrap">Global Utilities&#160;&#8212; 2.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:6018.2px;white-space:nowrap">Chubu Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7295.29px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			86,566&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,595&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:6018.2px;white-space:nowrap">EDP SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:6551.96px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7490.17px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			25,557&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			115,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:6018.2px;white-space:nowrap">Electric Power Development Co. Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7685.04px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,941,329&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			33,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:6018.2px;white-space:nowrap">Endesa SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7879.92px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			874,231&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			300,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:6018.2px;white-space:nowrap">Enel SpA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8074.8px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,431,952&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8269.68px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			560,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8269.68px;left:6018.2px;white-space:nowrap">Hera SpA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8269.68px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8269.68px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,422,112&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.55px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.55px;left:6018.2px;white-space:nowrap">Hokkaido Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.55px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8464.55px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			76,125&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.43px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			13,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.43px;left:6018.2px;white-space:nowrap">Hokuriku Electric Power Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.43px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8659.43px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			72,294&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			220,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:6018.2px;white-space:nowrap">Huaneng Power International Inc., Cl.&#160;H </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:8509.08px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8854.31px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			127,508&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			38,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:6018.2px;white-space:nowrap">Korea Electric Power Corp., ADR&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9049.19px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			281,580&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			22,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:6018.2px;white-space:nowrap">Kyushu Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9244.07px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			191,486&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			15,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:6018.2px;white-space:nowrap">Shikoku Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9438.94px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			115,758&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:6018.2px;white-space:nowrap">The Chugoku Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9633.82px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			51,604&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:6018.2px;white-space:nowrap">The Kansai Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9828.7px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			295,436&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			11,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:6018.2px;letter-spacing:-1.69px;white-space:nowrap">Tohoku Electric Power Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10023.58px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			75,685&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10218.46px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			9,069,223&#8204;</div></div>
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			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.84px;white-space:nowrap">The Gabelli Utility Trust</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
		</div>
		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAB/gAAAATCAYAAACUadXJAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA6ElEQVR4Xu3ZwQ2AMBDAsAN1/52YDEbos0Sy39kg18y8AwAAAAAAAAD82r0LAAAAAAAAAIDzDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAAIMfgAAAAAAAAAIMPgBAAAAAAAAIMDgBwAAAAAAAIAAgx8AAAAAAAAAAgx+AAAAAAAAAAgw+AEAAAAAAAAgwOAHAAAAAAAAgACDHwAAAAAAAAACDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAALWzDy7CAAAAAAAAAA46wMQOQHom10yKQAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px"></div></div>
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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:491.71px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">















































































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;white-space:nowrap">ENERGY AND UTILITIES (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:876.63px;left:1007px;white-space:nowrap">Merchant Energy&#160;&#8212; 0.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-5px;white-space:nowrap">			244,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;white-space:nowrap">The AES Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">	$		3,030,480&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1455.11px;left:1007px;white-space:nowrap">Natural Gas Integrated&#160;&#8212; 8.4%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1649.99px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1649.99px;left:1007px;white-space:nowrap">DT Midstream Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1649.99px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1649.99px;left:3815px;letter-spacing:-5px;white-space:nowrap">			771,840&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1844.86px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			85,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1844.86px;left:1007px;letter-spacing:-1.32px;white-space:nowrap">Energy Transfer LP </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1844.86px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1844.86px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,580,150&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2039.74px;left:0px;letter-spacing:-5px;white-space:nowrap">			103,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2039.74px;left:1007px;white-space:nowrap">Kinder Morgan Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2039.74px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2039.74px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,938,590&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2234.62px;left:0px;letter-spacing:-5px;white-space:nowrap">			104,682&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2234.62px;left:1007px;white-space:nowrap">National Fuel Gas Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2234.62px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2234.62px;left:3815px;letter-spacing:-4px;white-space:nowrap">			8,289,768&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2429.5px;left:0px;letter-spacing:-5px;white-space:nowrap">			141,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2429.5px;left:1007px;white-space:nowrap">ONEOK Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2429.5px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2429.5px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			13,990,020&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2624.38px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			27,570,368&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2913.61px;left:1007px;white-space:nowrap">Natural Gas Utilities&#160;&#8212; 7.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3108.49px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			24,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3108.49px;left:1007px;white-space:nowrap">Atmos Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3108.49px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3108.49px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,709,920&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3303.37px;left:0px;letter-spacing:-10px;white-space:nowrap">			200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3303.37px;left:1007px;white-space:nowrap">Cheniere Energy Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3303.37px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3303.37px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			46,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3498.25px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			9,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3498.25px;left:1007px;white-space:nowrap">Chesapeake Utilities Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3498.25px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3498.25px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,155,870&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3693.12px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			12,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3693.12px;left:1007px;white-space:nowrap">Engie SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3693.12px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3693.12px;left:3815px;letter-spacing:-5px;white-space:nowrap">			249,616&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888px;left:0px;letter-spacing:-5px;white-space:nowrap">			100,625&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888px;left:1007px;white-space:nowrap">National Grid plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3888px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,312,172&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4082.88px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			66,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4082.88px;left:1007px;white-space:nowrap">National Grid plc, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4082.88px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4082.88px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,330,260&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4277.76px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			7,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4277.76px;left:1007px;white-space:nowrap">Northwest Natural Holding Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4277.76px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4277.76px;left:3815px;letter-spacing:-5px;white-space:nowrap">			299,040&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4472.64px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4472.64px;left:1007px;white-space:nowrap">ONE Gas Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4472.64px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4472.64px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,290,377&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.51px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			55,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.51px;left:1007px;letter-spacing:-0.32px;white-space:nowrap">RGC Resources Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.51px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4667.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,147,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.39px;left:0px;letter-spacing:-5px;white-space:nowrap">			129,615&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.39px;left:1007px;white-space:nowrap">Southwest Gas Holdings Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.39px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4862.39px;left:3815px;letter-spacing:-4px;white-space:nowrap">			9,306,357&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.27px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			14,850&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.27px;left:1007px;white-space:nowrap">Spire Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.27px;left:1629.72px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5057.27px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,162,013&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.15px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			8,575&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.15px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">Venture Global Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.15px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5252.15px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			88,322&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5447.03px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			25,098,077&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5736.26px;left:1007px;white-space:nowrap">Natural Resources&#160;&#8212; 1.5%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5931.14px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			55,642&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5931.14px;left:1007px;white-space:nowrap">Cameco Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5931.14px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5931.14px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,290,225&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6126.02px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6126.02px;left:1007px;white-space:nowrap">Compania de Minas Buenaventura SAA, </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6318.02px;left:1151px;white-space:nowrap">ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6318.02px;left:1451.8px;letter-spacing:49.69px;white-space:nowrap">.........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6318.02px;left:3815px;letter-spacing:-5px;white-space:nowrap">			468,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6512.9px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			16,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6512.9px;left:1007px;white-space:nowrap">Exxon Mobil Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6512.9px;left:2252.44px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6512.9px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,962,345&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6707.78px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6707.78px;left:1007px;white-space:nowrap">Hess Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6707.78px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6707.78px;left:3815px;letter-spacing:-5px;white-space:nowrap">			319,460&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6902.65px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,040,930&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7191.89px;left:1007px;white-space:nowrap">Oil&#160;&#8212; 0.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7386.77px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			4,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7386.77px;left:1007px;white-space:nowrap">Devon Energy Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7386.77px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7386.77px;left:3815px;letter-spacing:-5px;white-space:nowrap">			168,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7581.65px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7581.65px;left:1007px;white-space:nowrap">PrairieSky Royalty Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7581.65px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7581.65px;left:3815px;letter-spacing:-5px;white-space:nowrap">			360,655&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7776.53px;left:3815px;letter-spacing:-5px;white-space:nowrap">			528,955&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8065.76px;left:1007px;letter-spacing:0.36px;white-space:nowrap">Services&#160;&#8212; 1.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8260.64px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			21,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8260.64px;left:1007px;white-space:nowrap">ABB Ltd., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8260.64px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8260.64px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,105,368&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8455.52px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			99,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8455.52px;left:1007px;white-space:nowrap">Enbridge Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8455.52px;left:1896.6px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8455.52px;left:3815px;letter-spacing:-4px;white-space:nowrap">			4,386,690&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8650.4px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			33,588&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8650.4px;left:1007px;letter-spacing:0.01px;white-space:nowrap">Halliburton Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8650.4px;left:1985.56px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8650.4px;left:3815px;letter-spacing:-5px;white-space:nowrap">			852,128&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8845.27px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,263&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8845.27px;left:1007px;white-space:nowrap">Schlumberger NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8845.27px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8845.27px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			52,793&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9040.15px;left:0px;letter-spacing:-10px;white-space:nowrap">			681&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9040.15px;left:1007px;letter-spacing:-1.08px;white-space:nowrap">TechnipFMC plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9040.15px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9040.15px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			21,581&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9235.03px;left:0px;letter-spacing:-10px;white-space:nowrap">			100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9235.03px;left:1007px;letter-spacing:0.03px;white-space:nowrap">Weatherford International plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9235.03px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9235.03px;left:3815px;letter-spacing:-6.67px;white-space:nowrap">			5,355&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9429.91px;left:3815px;letter-spacing:-4px;white-space:nowrap">			6,423,915&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9719.15px;left:1007px;letter-spacing:-0.58px;white-space:nowrap">Water&#160;&#8212; 4.7%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9914.02px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			26,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9914.02px;left:1007px;letter-spacing:-0.48px;white-space:nowrap">American States Water Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9914.02px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9914.02px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,045,680&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10108.9px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			22,400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10108.9px;left:1007px;letter-spacing:-0.48px;white-space:nowrap">American Water Works Co. Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10108.9px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10108.9px;left:3815px;letter-spacing:-4px;white-space:nowrap">			3,304,448&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10303.78px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			23,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10303.78px;left:1007px;letter-spacing:-0.32px;white-space:nowrap">Artesian Resources Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10303.78px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10303.78px;left:3815px;letter-spacing:-5px;white-space:nowrap">			750,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			33,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">California Water Service Group </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:7975.32px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:486.88px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">	$		1,608,872&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			26,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;white-space:nowrap">Essential Utilities Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,027,780&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">Middlesex Water Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			397,420&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			132,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;letter-spacing:-1.97px;white-space:nowrap">Severn Trent plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			4,315,633&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			29,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;white-space:nowrap">SJW Group </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,586,010&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;letter-spacing:-1.76px;white-space:nowrap">The York Water Co. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			315,588&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">Zurn Elkay Water Solutions Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			135,218&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1851.02px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			15,487,599&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2140.26px;left:6018.2px;letter-spacing:-1.47px;white-space:nowrap">TOTAL ENERGY AND UTILITIES </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2140.26px;left:8062.98px;letter-spacing:53.77px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8826.2px;letter-spacing:-3.33px;white-space:nowrap">			253,288,326&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2395.14px;left:6018.2px;letter-spacing:-0.63px;white-space:nowrap">COMMUNICATIONS&#160;&#8212; 9.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2590.02px;left:6018.2px;white-space:nowrap">Cable and Satellite&#160;&#8212; 1.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2784.89px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			4,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2784.89px;left:6018.2px;white-space:nowrap">Altice USA Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2784.89px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2784.89px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			10,640&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2979.77px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2979.77px;left:6018.2px;white-space:nowrap">Charter Communications Inc., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2979.77px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2979.77px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			773,913&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3174.65px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3174.65px;left:6018.2px;white-space:nowrap">Cogeco Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3174.65px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3174.65px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			921,950&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3369.53px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			20,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3369.53px;left:6018.2px;white-space:nowrap">EchoStar Corp., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3369.53px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3369.53px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			511,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3564.41px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			278,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3564.41px;left:6018.2px;white-space:nowrap">ITV plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3564.41px;left:6463px;letter-spacing:49.69px;white-space:nowrap">.........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3564.41px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			283,155&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3759.28px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			85,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3759.28px;left:6018.2px;white-space:nowrap">Liberty Latin America Ltd., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3759.28px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3759.28px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			538,050&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3954.16px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			5,947&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3954.16px;left:6018.2px;white-space:nowrap">Liberty Latin America Ltd., Cl.&#160;C&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3954.16px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3954.16px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			36,931&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4149.04px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			24,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4149.04px;left:6018.2px;white-space:nowrap">Rogers Communications Inc., Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4149.04px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4149.04px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			641,520&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4343.92px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,717,759&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4633.15px;left:6018.2px;white-space:nowrap">Communications Equipment&#160;&#8212; 0.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4828.03px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4828.03px;left:6018.2px;white-space:nowrap">Furukawa Electric Co. Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4828.03px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4828.03px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			246,517&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5211.63px;left:6018.2px;letter-spacing:-0.66px;white-space:nowrap">Telecommunications&#160;&#8212; 6.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5406.51px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			35,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5406.51px;left:6018.2px;letter-spacing:-1.76px;white-space:nowrap">AT&amp;T Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5406.51px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5406.51px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			989,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5601.39px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5601.39px;left:6018.2px;letter-spacing:-2.2px;white-space:nowrap">BCE Inc., New York </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5601.39px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5601.39px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			229,600&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5796.26px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5796.26px;left:6018.2px;letter-spacing:-1.69px;white-space:nowrap">BCE Inc., Toronto </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5796.26px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5796.26px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			45,905&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5991.14px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5991.14px;left:6018.2px;white-space:nowrap">BT Group plc, Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5991.14px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5991.14px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			214,237&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6186.02px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6186.02px;left:6018.2px;white-space:nowrap">Cogeco Communications Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6186.02px;left:7886.36px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6186.02px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			365,762&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6380.9px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			100,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6380.9px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Deutsche Telekom AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6380.9px;left:7441.56px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6380.9px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,700,209&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6575.78px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			60,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6575.78px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Deutsche Telekom AG, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6575.78px;left:7797.4px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6575.78px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,224,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6770.65px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			21,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6770.65px;left:6018.2px;white-space:nowrap">Eurotelesites AG&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6770.65px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6770.65px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			119,024&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6965.53px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6965.53px;left:6018.2px;letter-spacing:-0.62px;white-space:nowrap">Hutchison Telecommunications Hong Kong </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7157.53px;left:6162.2px;white-space:nowrap">Holdings Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7157.53px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7157.53px;left:8826.2px;letter-spacing:-13.33px;white-space:nowrap">			25&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			83,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:6018.2px;white-space:nowrap">Liberty Global Ltd., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			955,330&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			85,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:6018.2px;white-space:nowrap">Liberty Global Ltd., Cl.&#160;C&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:7708.44px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,017,450&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:5011.2px;letter-spacing:-4px;white-space:nowrap">			1,750,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:6018.2px;letter-spacing:-1.18px;white-space:nowrap">Nippon Telegraph &amp; Telephone Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,688,279&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7937.04px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			143,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7937.04px;left:6018.2px;white-space:nowrap">Orange Belgium SA&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7937.04px;left:7352.6px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7937.04px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,358,531&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8131.92px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			6,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8131.92px;left:6018.2px;white-space:nowrap">Orange SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8131.92px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8131.92px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			77,580&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8326.8px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			59,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8326.8px;left:6018.2px;white-space:nowrap">Orascom Financial Holding SAE&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8326.8px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8326.8px;left:8826.2px;letter-spacing:-10px;white-space:nowrap">			520&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8521.68px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8521.68px;left:6018.2px;white-space:nowrap">Orascom Investment Holding, GDR&#8224;(a) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8521.68px;left:8509.08px;letter-spacing:58.08px;white-space:nowrap">..</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8521.68px;left:8826.2px;letter-spacing:-10px;white-space:nowrap">			140&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8716.55px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8716.55px;left:6018.2px;white-space:nowrap">Pharol SGPS SA&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8716.55px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8716.55px;left:8826.2px;letter-spacing:-6.67px;white-space:nowrap">			1,719&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8911.43px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			9,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8911.43px;left:6018.2px;white-space:nowrap">Proximus SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8911.43px;left:6907.8px;letter-spacing:49.87px;white-space:nowrap">....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8911.43px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			66,419&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9106.31px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			8,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9106.31px;left:6018.2px;white-space:nowrap">PT Indosat Tbk </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9106.31px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9106.31px;left:8826.2px;letter-spacing:-10px;white-space:nowrap">			703&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9301.19px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			38,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9301.19px;left:6018.2px;white-space:nowrap">Sunrise Communications AG, Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9301.19px;left:8331.16px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9301.19px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,834,068&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9496.07px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,350&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9496.07px;left:6018.2px;letter-spacing:-1.97px;white-space:nowrap">Tele2 AB, Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9496.07px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9496.07px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			18,205&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9690.94px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			250,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9690.94px;left:6018.2px;letter-spacing:-1.08px;white-space:nowrap">Telefonica SA, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9690.94px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9690.94px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			1,165,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9885.82px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			85,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9885.82px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Telekom Austria AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9885.82px;left:7263.64px;letter-spacing:50.1px;white-space:nowrap">................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9885.82px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			794,107&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10080.7px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			25,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10080.7px;left:6018.2px;letter-spacing:-1.18px;white-space:nowrap">Telephone and Data Systems Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10080.7px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10080.7px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			968,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10275.58px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			30,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10275.58px;left:6018.2px;letter-spacing:-1.48px;white-space:nowrap">Telesat Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10275.58px;left:6996.76px;letter-spacing:49.92px;white-space:nowrap">...................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10275.58px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			564,900&#8204;</div></div>
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</div></div><div style="page-break-after:always;margin:-8px;position:relative;height:1296px;width:1080px;transform-origin:top left;transform:scale(2,2)"><div style="position:absolute;top:0px;left:0px;width:540px;height:648px">
		<div style="height:12.40px;left:0px;position:absolute;top:0px;transform:translate(25.200px,612.233px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">
			<div style="width:9792px;height:142.8px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,2.92px) rotate(0deg) scale(0.05)">

			<div style="font-family:Arial, Helvetica, sans-serif;font-size:170px;position:absolute;top:-6.75px;left:4845.96px;white-space:nowrap">3</div></div>
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		<div style="height:33.73px;left:0px;position:absolute;top:0px;transform:translate(18.200px,24.305px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.40px">
			<div style="width:9788px;height:576px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,3.93px) rotate(0deg) scale(0.05)">


			<div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:-9px;left:0px;letter-spacing:-3.84px;white-space:nowrap">The Gabelli Utility Trust</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:230px;font-weight:bold;position:absolute;top:279px;left:0px;letter-spacing:-2.4px;white-space:nowrap">Schedule of Investments (Continued) &#8212; March 31, 2025 (Unaudited)</div></div>
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		<div style="background-color:transparent;height:4.50px;left:0px;position:absolute;top:0px;transform:translate(17.999px,57.416px) rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:489.60px">

		<div style="background-image:url(data:image/png;base64,iVBORw0KGgoAAAANSUhEUgAAB/gAAAATCAYAAACUadXJAAAACXBIWXMAAC4jAAAuIwF4pT92AAAA6ElEQVR4Xu3ZwQ2AMBDAsAN1/52YDEbos0Sy39kg18y8AwAAAAAAAAD82r0LAAAAAAAAAIDzDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAAIMfgAAAAAAAAAIMPgBAAAAAAAAIMDgBwAAAAAAAIAAgx8AAAAAAAAAAgx+AAAAAAAAAAgw+AEAAAAAAAAgwOAHAAAAAAAAgACDHwAAAAAAAAACDH4AAAAAAAAACDD4AQAAAAAAACDA4AcAAAAAAACAAIMfAAAAAAAAAALWzDy7CAAAAAAAAAA46wMQOQHom10yKQAAAABJRU5ErkJggg==);background-repeat:no-repeat;background-size:cover;height:100.00%;min-width:100%;width:100.00%;left:0px;position:absolute;top:0px"></div></div>
		<div 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rotate(0.000deg) skew(0.000deg) scale(1.000,1.000);transform-origin:0% 0%;width:502.56px">
			<div style="width:9792px;height:10582.27px;position:absolute;top:0px;left:0px;transform-origin:0% 0%;transform:translate(0px,1.5px) rotate(0deg) scale(0.05)">












































































































































































































































































































			<div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:438.72px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:4092.36px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:4133.72px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:1007px;white-space:nowrap">COMMON STOCKS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:681.75px;left:1007px;letter-spacing:-0.55px;white-space:nowrap">COMMUNICATIONS (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:876.63px;left:1007px;letter-spacing:-0.59px;white-space:nowrap">Telecommunications (Continued)</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:1007px;letter-spacing:-0.98px;white-space:nowrap">T-Mobile US Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:3815px;letter-spacing:-4px;white-space:nowrap">	$		1,386,892&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			10,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:1007px;white-space:nowrap">VEON Ltd., ADR&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:3815px;letter-spacing:-5px;white-space:nowrap">			436,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			35,800&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:1007px;letter-spacing:-0.36px;white-space:nowrap">Verizon Communications Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,623,888&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			22,847,093&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1945.38px;left:1007px;white-space:nowrap">Wireless Communications&#160;&#8212; 1.8%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			5,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:1007px;letter-spacing:-3.68px;white-space:nowrap">America Movil SAB de CV, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:3053.08px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			71,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			25,900&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:1007px;white-space:nowrap">Anterix Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:1807.64px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:3815px;letter-spacing:-5px;white-space:nowrap">			947,940&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:1007px;white-space:nowrap">Operadora De Sites Mexicanos SAB de CV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:3815px;letter-spacing:-10px;white-space:nowrap">			853&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:1007px;letter-spacing:-1.48px;white-space:nowrap">SK Telecom Co. Ltd., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2724.89px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			48,898&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:0px;letter-spacing:-10px;white-space:nowrap">			400&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2919.77px;left:1007px;letter-spacing:-1.32px;white-space:nowrap">SmarTone Telecommunications Holdings </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:1151px;white-space:nowrap">Ltd. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:1451.8px;letter-spacing:49.69px;white-space:nowrap">.........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3111.77px;left:3815px;letter-spacing:-10px;white-space:nowrap">			222&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			60,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:1007px;letter-spacing:-1.3px;white-space:nowrap">Turkcell Iletisim Hizmetleri A/S, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:3319.96px;letter-spacing:53.52px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3306.65px;left:3815px;letter-spacing:-5px;white-space:nowrap">			373,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			32,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:1007px;white-space:nowrap">United States Cellular Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:2875.16px;letter-spacing:50.99px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3501.53px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,226,630&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:0px;letter-spacing:-5px;white-space:nowrap">			230,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:1007px;letter-spacing:-0.32px;white-space:nowrap">Vodafone Group plc, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:2697.24px;letter-spacing:50.62px;white-space:nowrap">...........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3696.41px;left:3815px;letter-spacing:-4px;white-space:nowrap">			2,155,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3891.28px;left:3815px;letter-spacing:-4px;white-space:nowrap">			5,823,943&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4180.52px;left:1007px;letter-spacing:-1.47px;white-space:nowrap">TOTAL COMMUNICATIONS </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4180.52px;left:2745.06px;letter-spacing:52.16px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4180.52px;left:3815px;letter-spacing:-3.64px;white-space:nowrap">			32,635,312&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4435.4px;left:1007px;white-space:nowrap">OTHER&#160;&#8212; 3.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4630.28px;left:1007px;white-space:nowrap">Automotive&#160;&#8212; 0.2%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4825.15px;left:0px;letter-spacing:-10px;white-space:nowrap">			275&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4825.15px;left:1007px;white-space:nowrap">Ducommun Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4825.15px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4825.15px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			15,958&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5020.03px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			45,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5020.03px;left:1007px;white-space:nowrap">Iveco Group NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5020.03px;left:2074.52px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5020.03px;left:3815px;letter-spacing:-5px;white-space:nowrap">			733,284&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5214.91px;left:3815px;letter-spacing:-5px;white-space:nowrap">			749,242&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5504.15px;left:1007px;white-space:nowrap">Building and Construction&#160;&#8212; 0.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5699.03px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5699.03px;left:1007px;white-space:nowrap">Everus Construction Group Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5699.03px;left:3142.04px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5699.03px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			92,725&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5893.9px;left:0px;letter-spacing:-10px;white-space:nowrap">			305&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5893.9px;left:1007px;white-space:nowrap">Gibraltar Industries Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5893.9px;left:2608.28px;letter-spacing:50.48px;white-space:nowrap">............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5893.9px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			17,891&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6088.78px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6088.78px;left:1007px;white-space:nowrap">Knife River Corp.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6088.78px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6088.78px;left:3815px;letter-spacing:-5px;white-space:nowrap">			225,525&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6283.66px;left:3815px;letter-spacing:-5px;white-space:nowrap">			336,141&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6572.9px;left:1007px;text-rendering:optimizeLegibility;white-space:nowrap">Diversified Industrial&#160;&#8212; 0.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6767.78px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6767.78px;left:1007px;letter-spacing:0.01px;white-space:nowrap">Accelleron Industries AG, ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6767.78px;left:2964.12px;letter-spacing:51.24px;white-space:nowrap">........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6767.78px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			55,080&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6962.65px;left:0px;letter-spacing:-10px;white-space:nowrap">			200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6962.65px;left:1007px;letter-spacing:-0.46px;white-space:nowrap">Arcosa Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6962.65px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6962.65px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			15,424&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7157.53px;left:0px;letter-spacing:-10px;white-space:nowrap">			166&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7157.53px;left:1007px;white-space:nowrap">ITT Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7157.53px;left:1540.76px;letter-spacing:49.72px;white-space:nowrap">........................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7157.53px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			21,441&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,936&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:1007px;white-space:nowrap">L.B. Foster Co., Cl.&#160;A&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:2430.36px;letter-spacing:50.26px;white-space:nowrap">..............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7352.41px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			38,100&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:1007px;white-space:nowrap">Matthews International Corp., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:3231px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7547.29px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			22,240&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			11,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:1007px;letter-spacing:-1.48px;white-space:nowrap">Trinity Industries Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:2341.4px;letter-spacing:50.18px;white-space:nowrap">...............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7742.17px;left:3815px;letter-spacing:-5px;white-space:nowrap">			314,272&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7937.04px;left:3815px;letter-spacing:-5px;white-space:nowrap">			466,557&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:8226.28px;left:1007px;white-space:nowrap">Electronics&#160;&#8212; 0.6%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8421.16px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			1,200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8421.16px;left:1007px;letter-spacing:0.02px;white-space:nowrap">Allient Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8421.16px;left:1718.68px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8421.16px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			26,376&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8616.04px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			2,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8616.04px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Keysight Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8616.04px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8616.04px;left:3815px;letter-spacing:-5px;white-space:nowrap">			299,540&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8810.91px;left:0px;letter-spacing:-10px;white-space:nowrap">			567&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8810.91px;left:1007px;letter-spacing:-0.91px;white-space:nowrap">Resideo Technologies Inc.&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8810.91px;left:2786.2px;letter-spacing:50.78px;white-space:nowrap">..........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8810.91px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			10,036&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9005.79px;left:0px;letter-spacing:-5.71px;white-space:nowrap">			64,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9005.79px;left:1007px;white-space:nowrap">Sony Group Corp., ADR </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9005.79px;left:2519.32px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9005.79px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,624,960&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9200.67px;left:3815px;letter-spacing:-4px;white-space:nowrap">			1,960,912&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:9489.91px;left:1007px;white-space:nowrap">Financial Services&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9684.79px;left:0px;letter-spacing:-5px;white-space:nowrap">			150,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9684.79px;left:1007px;white-space:nowrap">GAM Holding AG&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9684.79px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9684.79px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			15,090&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9879.66px;left:0px;letter-spacing:-6.67px;white-space:nowrap">			6,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9879.66px;left:1007px;white-space:nowrap">Kinnevik AB, Cl.&#160;B </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9879.66px;left:2163.48px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9879.66px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			45,550&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:10074.54px;left:3815px;letter-spacing:-5.71px;white-space:nowrap">			60,640&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:5449.92px;white-space:nowrap">Shares</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:40px;left:9103.56px;white-space:nowrap">Market</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:232px;left:9144.92px;letter-spacing:-0.58px;white-space:nowrap">Value</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:486.88px;left:6018.2px;letter-spacing:0.32px;white-space:nowrap">Machinery&#160;&#8212; 0.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			212,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:6018.2px;white-space:nowrap">CNH Industrial NV </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:7174.68px;letter-spacing:50.03px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:681.75px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">	$		2,603,360&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			936&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:6018.2px;letter-spacing:0.29px;white-space:nowrap">Flowserve Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:7085.72px;letter-spacing:49.97px;white-space:nowrap">..................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:876.63px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			45,714&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			300&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6018.2px;white-space:nowrap">Medmix AG </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1071.51px;left:8826.2px;letter-spacing:-6.67px;white-space:nowrap">			3,527&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,686&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:6018.2px;letter-spacing:-0.48px;white-space:nowrap">Mueller Water Products Inc., Cl.&#160;A </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8242.2px;letter-spacing:52.61px;white-space:nowrap">.....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1266.39px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			42,858&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			1,250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6018.2px;white-space:nowrap">Xylem Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:6729.88px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1461.27px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			149,325&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:1656.14px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			2,844,784&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:1945.38px;left:6018.2px;white-space:nowrap">Specialty Chemicals&#160;&#8212; 0.1%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			200&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:6018.2px;white-space:nowrap">Air Products and Chemicals Inc. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8064.28px;letter-spacing:51.57px;white-space:nowrap">.......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2140.26px;left:8826.2px;letter-spacing:-5.71px;white-space:nowrap">			58,984&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:5011.2px;letter-spacing:-10px;white-space:nowrap">			250&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:6018.2px;white-space:nowrap">Linde plc </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:6640.92px;letter-spacing:49.75px;white-space:nowrap">.......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2335.14px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			116,410&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:2530.02px;left:8826.2px;letter-spacing:-5px;white-space:nowrap">			175,394&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:2819.25px;left:6018.2px;letter-spacing:-0.85px;white-space:nowrap">Transportation&#160;&#8212; 1.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3014.13px;left:5011.2px;letter-spacing:-5.71px;white-space:nowrap">			21,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3014.13px;left:6018.2px;letter-spacing:-1.76px;white-space:nowrap">GATX Corp. </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3014.13px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3014.13px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,260,670&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3397.73px;left:6018.2px;letter-spacing:-1.47px;white-space:nowrap">TOTAL OTHER </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3397.73px;left:6938.35px;letter-spacing:50.66px;white-space:nowrap">.................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:3397.73px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			9,854,340&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3652.61px;left:6018.2px;letter-spacing:-0.63px;white-space:nowrap">WIRELESS COMMUNICATIONS&#160;&#8212; 0.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:3847.48px;left:6018.2px;white-space:nowrap">Wireless Communications&#160;&#8212; 0.9%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4042.36px;left:5011.2px;letter-spacing:-5px;white-space:nowrap">			103,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4042.36px;left:6018.2px;letter-spacing:0.02px;white-space:nowrap">Millicom International Cellular SA </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4042.36px;left:8153.24px;letter-spacing:52px;white-space:nowrap">......</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4042.36px;left:8826.2px;letter-spacing:-4px;white-space:nowrap">			3,117,810&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4427.4px;left:6018.2px;letter-spacing:-1.47px;white-space:nowrap">TOTAL COMMON STOCKS </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4427.4px;left:7756.26px;letter-spacing:52.16px;white-space:nowrap">.........</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:4427.4px;left:8826.2px;letter-spacing:-3.33px;white-space:nowrap">			298,895,788&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4776.69px;left:6018.2px;letter-spacing:-0.36px;white-space:nowrap">WARRANTS&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:4971.56px;left:6018.2px;white-space:nowrap">OTHER&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5166.44px;left:6018.2px;white-space:nowrap">Financial Services&#160;&#8212; 0.0%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5361.32px;left:5011.2px;letter-spacing:-6.67px;white-space:nowrap">			7,500&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5361.32px;left:6018.2px;white-space:nowrap">SDCL EDGE Acquisition Corp., expire </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.32px;left:6162.2px;white-space:nowrap">12/31/28&#8224; </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.32px;left:6818.84px;letter-spacing:49.83px;white-space:nowrap">.....................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:5553.32px;left:8826.2px;letter-spacing:-10px;white-space:nowrap">			225&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:5842.56px;left:5163.84px;white-space:nowrap">Principal</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6034.56px;left:5208.24px;white-space:nowrap">Amount</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:6289.44px;left:6018.2px;letter-spacing:-0.8px;white-space:nowrap">U.S. GOVERNMENT OBLIGATIONS&#160;&#8212; 9.3%</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6484.31px;left:5011.2px;letter-spacing:-3.64px;white-space:nowrap">	$		30,805,000&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6484.31px;left:6018.2px;letter-spacing:-1px;white-space:nowrap">U.S. Treasury Bills,</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6679.19px;left:6162.2px;white-space:nowrap">4.223% to 4.263%&#8224;&#8224;, 04/22/25 to </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6871.19px;left:6162.2px;white-space:nowrap">06/26/25</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6871.19px;left:6731.16px;letter-spacing:49.79px;white-space:nowrap">......................</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:6871.19px;left:8826.2px;letter-spacing:-3.64px;white-space:nowrap">			30,684,267&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7358.79px;left:6018.2px;letter-spacing:-1.47px;white-space:nowrap">TOTAL INVESTMENTS &#8212; 100.0% </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:130px;font-weight:bold;position:absolute;top:7358.79px;left:8267.45px;letter-spacing:56.17px;white-space:nowrap">....</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7553.67px;left:6162.2px;white-space:nowrap">(Cost $247,995,299) </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7553.67px;left:7530.52px;letter-spacing:50.36px;white-space:nowrap">.............</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7553.67px;left:8826.2px;letter-spacing:-3.33px;white-space:nowrap">	$		329,580,280&#8204;</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:7991.54px;left:5011.2px;white-space:nowrap">(a)	Security is valued using significant unobservable inputs and is classified </div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8171.54px;left:5371.2px;letter-spacing:-0.32px;white-space:nowrap">as Level 3 in the fair value hierarchy.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8366.42px;left:5011.2px;white-space:nowrap">&#8224;	Non-income producing security.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8561.3px;left:5011.2px;letter-spacing:-0.36px;white-space:nowrap">&#8224;&#8224;	Represents annualized yields at dates of purchase.</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8836.18px;left:5011.2px;white-space:nowrap">ADR</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:8836.18px;left:5443.2px;white-space:nowrap">American Depositary Receipt</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9031.06px;left:5011.2px;white-space:nowrap">GDR</div><div style="font-family:Arial, Helvetica, sans-serif;font-size:140px;position:absolute;top:9031.06px;left:5443.2px;white-space:nowrap">Global Depositary Receipt</div></div>
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</DOCUMENT>
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