Our portfolio

Actively-managed and diversified

Argo Infrastructure’s actively-managed portfolio is diversified across 50-100 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

Geographic diversification

Subsector diversification

^ Many of the largest infrastructure companies are listed in the United States, although their assets and earnings are often global. Figures above are to 31 October 2021.

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.

Top 10 investments

Details of Argo Infrastructure’s 10 largest investments as a percentage of the investment portfolio at 30 June 2021 are listed below.

Security nameCountry of listingSubsectorPortfolio (%)Index (%)
NextEra EnergyUSIntegrated Electric5.64.8
American TowerUSCommunication Tower4.84.5
Transurban GroupAUSToll Roads4.84.4
Norfolk SouthernUSFreight Rails3.81
EnbridgeCANMidstream Energy3.73
SBA CommunicationsUSCommunication Tower3.11.3
Public Service Enterprise GroupUSRegulated Electric2.71.2
AENASPAINAirports2.71.7
American Electric Power CompanyUSRegulated Electric2.71.8
FirstEnergy CorporationUSRegulated Electric2.50.8
36.424.5

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 52 of our latest Annual Report.