Our portfolio
Actively-managed and diversified
Argo Infrastructure’s actively-managed portfolio is diversified across 50-70 global listed infrastructure securities across various subsectors and geographies, including both emerging and developed economies.
The large and highly liquid nature of the global listed infrastructure universe offers the flexibility to build a highly diversified portfolio.
The diversified nature of the portfolio acts to reduce volatility and mitigate risk.
Argo Infrastructure’s diversified portfolio
Up to 5% of the portfolio may be held in cash securities which provides the ability to pursue market opportunities as they arise. The portfolio is unhedged for currency and we have no debt.
Argo Infrastructure’s portfolio only includes listed companies that derive at least 70% of revenues from, or have at least 70% of assets committed to, the construction, development or financing of infrastructure assets, or the management, ownership and/or operation of infrastructure assets.
Geographic diversification
^ Many of the largest infrastructure companies are listed in the United States, although their assets and earnings are often global.
Subsector diversification
Top 10 investments
Details of Argo Infrastructure’s 10 largest investments as a percentage of the investment portfolio at 30 September 2024 are listed below.
| Security name | Country of listing | Subsector | Portfolio (%) | Index (%) |
|---|---|---|---|---|
| NextEra Energy | US | Electric | 5.7 | 5.2 |
| American Tower | US | Communications | 4.6 | 3.3 |
| TC Energy | CAN | Electric | 4.5 | 1.5 |
| Duke Energy | US | Midstream Energy | 4.3 | 2.9 |
| Public Service Enterprise Group | US | Gas Distribution | 3.5 | 1.5 |
| NiSource | US | Midstream Energy | 3.5 | 0.5 |
| PG&E | US | Electric | 3.0 | 1.4 |
| Union Pacific | US | Electric | 3.0 | 3.8 |
| CSX | US | Electric | 2.9 | 1.7 |
| ICTSI | PHIL | Midstream Energy | 2.9 | 0.8 |
| 37.9 | 22.6 |
|---|
Full list of portfolio holdings
Argo Infrastructure’s entire portfolio of investments, including the value of each holding, is released each year in the Annual Report. See page 59 of our latest Annual Report.