EIP Growth and Income Fund
  
Schedule of Investments
  
July 31, 2024 (Unaudited)
  
   
COMMON STOCKS - 72.5%
  
Shares
    
Value
  
Canada - 9.6%
        
Energy - 6.4%
            
Imperial Oil Ltd.
    
31,400
      
2,249,501
  
Keyera Corp.
    
46,190
      
1,303,082
  
Suncor Energy, Inc.
    
10,600
      
423,340
  
TC Energy Corp.
    
32,356
      
1,372,218
  
             
5,348,141
  
Independent Power and Renewable Electricity Producers - 0.2%
                
Northland Power, Inc.
    
10,500
      
175,602
  
           
$
–
  
Utilities - 3.0%
                
AltaGas, Ltd.
    
8,701
      
207,465
  
Atco Ltd./Canada - Class I
    
37,570
      
1,165,483
  
Canadian Utilities Ltd. - Class A
    
2,310
      
54,092
  
Emera, Inc.
    
800
      
28,879
  
Fortis, Inc./Canada
    
14,950
      
625,006
  
Hydro One Ltd. (a)
    
12,700
      
398,022
  
             
2,478,947
  
Total Canada
      
8,002,690
  
                 
Denmark - 0.1%
          
Utilities - 0.1%
                
Orsted A/S - ADR (b)
    
5,705
      
113,073
  
                 
France - 2.6%
          
Energy - 2.6%
                
TotalEnergies SE - ADR
    
32,100
      
2,175,738
  
                 
Italy - 0.2%
          
Utilities - 0.2%
                
Enel SpA - ADR
    
25,094
      
178,167
  
                 
Spain - 0.0%(c)
          
Independent Power and Renewable Electricity Producers - 0.0%(c)
                
EDP Renovaveis SA
    
386
      
5,991
  
                 
United Kingdom - 3.9%
          
Energy - 3.6%
                
BP PLC - ADR
    
40,900
      
1,447,451
  
Shell PLC - ADR
    
20,800
      
1,522,976
  
             
2,970,427
  
Energy Equipment & Services - 0.3%
                
TechnipFMC PLC
    
8,900
      
262,550
  
Total United Kingdom
      
3,232,977
  
                 
United States - 56.1%(d)
          
Architectural, Engineering, and Related Services - 0.3%
                
Jacobs Solutions, Inc.
    
1,400
      
204,890
  
           
$
–
  
Construction & Engineering - 2.9%
                
Fluor Corp. (b)
    
25,400
      
1,221,740
  
Quanta Services, Inc.
    
4,580
      
1,215,440
  
             
2,437,180
  
Energy - 19.0%
                
Cheniere Energy, Inc.
    
6,550
      
1,196,292
  
DT Midstream, Inc.
    
41,420
      
3,121,411
  
Enbridge, Inc.
    
22,009
      
823,577
  
EQT Corp.
    
12,000
      
414,120
  
Exxon Mobil Corp.
    
8,700
      
1,031,733
  
Kinder Morgan, Inc.
    
77,620
      
1,640,111
  
ONEOK, Inc.
    
59,505
      
4,958,552
  
Targa Resources Corp.
    
16,800
      
2,272,704
  
The Williams Companies, Inc.
    
7,609
      
326,730
  
             
15,785,230
  
Energy Equipment & Services - 3.4%
                
Archrock, Inc.
    
18,800
      
389,724
  
Cactus, Inc. - Class A
    
4,200
      
265,104
  
Halliburton Co.
    
19,000
      
658,920
  
Helmerich & Payne, Inc.
    
5,300
      
214,226
  
NOV, Inc.
    
12,100
      
251,922
  
Schlumberger NV
    
21,300
      
1,028,577
  
             
2,808,473
  
Independent Power and Renewable Electricity Producers - 3.5%
                
Clearway Energy, Inc. - Class A
    
80,760
      
1,989,119
  
The AES Corp.
    
10,860
      
193,199
  
Vistra Corp.
    
9,400
      
744,668
  
             
2,926,986
  
Utilities - 27.0%
                
Alliant Energy Corp.
    
23,010
      
1,280,737
  
Ameren Corp.
    
3,200
      
253,664
  
American Electric Power Co., Inc.
    
18,049
      
1,770,968
  
American Water Works Co., Inc.
    
100
      
14,236
  
Atmos Energy Corp.
    
11,950
      
1,528,166
  
CenterPoint Energy, Inc.
    
14,190
      
393,772
  
Chesapeake Utilities Corp.
    
3,600
      
424,908
  
CMS Energy Corp.
    
12,826
      
831,125
  
Constellation Energy Corp.
    
2,390
      
453,622
  
Dominion Energy, Inc.
    
8,000
      
427,680
  
DTE Energy Co.
    
7,294
      
879,146
  
Duke Energy Corp.
    
3,990
      
435,987
  
Entergy Corp.
    
7,900
      
916,163
  
Essential Utilities, Inc.
    
14,100
      
573,165
  
Evergy, Inc.
    
21,910
      
1,270,780
  
Eversource Energy
    
13,732
      
891,344
  
IDACORP, Inc.
    
3,400
      
332,350
  
National Fuel Gas Co.
    
39,240
      
2,299,072
  
New Jersey Resources Corp.
    
7,100
      
331,925
  
ONE Gas, Inc.
    
13,115
      
913,197
  
PPL Corp.
    
35,400
      
1,052,088
  
Public Service Enterprise Group, Inc.
    
11,120
      
887,042
  
Sempra Energy
    
12,910
      
1,033,575
  
The Southern Co.
    
16,090
      
1,343,837
  
UGI Corp.
    
7,600
      
188,328
  
WEC Energy Group, Inc.
    
14,140
      
1,216,888
  
Xcel Energy, Inc.
    
8,774
      
511,349
  
             
22,455,114
  
Total United States
      
46,617,873
  
TOTAL COMMON STOCKS (Cost $50,480,527)
      
60,326,509
  
                 
MASTER LIMITED PARTNERSHIPS - 24.5%
  
Units
    
Value
  
United States - 24.5%
          
Chemicals - 1.5%
                
Westlake Chemical Partners, LP
    
52,991
      
1,215,084
  
           
$
–
  
Energy - 22.0%
                
Cheniere Energy Partners LP
    
22,325
      
1,175,634
  
Energy Transfer, LP
    
352,900
      
5,741,683
  
Enterprise Products Partners, LP
    
171,034
      
4,936,041
  
Hess Midstream LP - Class A(f)
    
19,360
      
725,613
  
MPLX, LP
    
64,100
      
2,744,762
  
Plains GP Holdings LP (f)
    
84,260
      
1,609,366
  
Sunoco LP
    
15,500
      
851,260
  
TXO Partners LP
    
24,700
      
506,597
  
             
18,290,956
  
Energy Equipment & Services - 0.3%
                
USA Compression Partners, LP
    
10,400
      
238,576
  
           
$
–
  
Independent Power and Renewable Electricity Producers - 0.7%
                
NextEra Energy Partners, LP(f)
    
24,198
      
618,259
  
Total United States
      
20,362,875
  
TOTAL MASTER LIMITED PARTNERSHIPS (Cost $14,447,913)
      
20,362,875
  
                 
SHORT-TERM INVESTMENTS - 1.7%
                
   
Shares
          
Money Market Fund — 1.7%
                
First American Treasury Obligations Fund - Class Z, 5.14% (e)
    
1,390,296
      
1,390,296
  
TOTAL SHORT-TERM INVESTMENTS (Cost $1,390,296)
      
1,390,296
  
                 
TOTAL INVESTMENTS - 98.7% (Cost $66,318,736)
      
82,079,680
  
Other Assets in Excess of Liabilities - 1.3%
      
1,090,470
  
TOTAL NET ASSETS - 100.0%
          
$
83,170,150
  
                 
Percentages are stated as a percent of net assets.
          

ADR - American Depositary Receipt
NV - Naamloze Vennootschap
PLC - Public Limited Company
SA - Sociedad Anónima

(a)
Security is exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may only be resold in transactions exempt from registration to qualified institutional investors. As of July 31, 2024, the value of these securities total $398,022 or 0.5% of the Fund’s net assets.
(b)
Non-income producing security.
(c)
Represents less than 0.05% of net assets.
(d)
To the extent that the Fund invests a significant portion of its assets in the securities of companies of a single country or region, it is more likely to be impacted by events or conditions affecting the country or region.
(e)
(f)
The rate shown represents the 7-day annualized effective yield as of July 31, 2024.
This security has elected to be treated as a corporation for U.S. federal income tax purposes.
EIP Growth and Income Fund
Schedule of Total Return Swap Contracts
July 31, 2024 (Unaudited)
                       
Reference Entity
Counterparty
Pay/ Receive
Reference Entity
Financing Rate
Payment Frequency
Maturity Date
  
Notional Amount(a)
    
Value/ Unrealized
Appreciation (Depreciation)(b)
  
American Water Works Co., Inc.
BNP Paribas
Prime Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
  
$
38,172
    
$
1,589
  
Atmos Energy Corp.
BNP Paribas Prime
Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
369,740
      
20,615
  
Cheniere Energy, Inc.
BNP Paribas Prime
Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
88,830
      
2,260
  
Clearway Energy, Inc. - Class A
BNP Paribas
Prime Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
196,682
      
14,626
  
DT Midstream, Inc.
BNP Paribas Prime Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
340,608
      
20,237
  
Enterprise Products Partners, LP
BNP Paribas
Prime Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
2,494,096
      
(24,580
)
IDACORP, Inc.
BNP Paribas Prime
Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
94,405
      
4,078
  
Kinder Morgan, Inc.
BNP Paribas
Prime Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
59,905
      
3,550
  
New Jersey Resources Corp.
BNP Paribas Prime
Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
78,765
      
3,778
  
Sempra Energy
BNP Paribas Prime
Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
621,844
      
31,436
  
The Williams Companies, Inc.
BNP Paribas Prime
Brokerage, Inc.
Receive
OBFR + 0.90%
Monthly
06/17/2025
    
117,891
      
747
  
Total Unrealized Appreciation (Depreciation)
                  
$
78,336
  

There are no upfront payments or receipts associated with total return swaps in the Fund as of July 31, 2024. The amount of $960,000 in cash was segregated with the custodian to cover the above total return swaps outstanding.
  
   
OBFR - Overnight Bank Funding Rate
 
(a) The notional amount represents the U.S. dollar value of the contract as of the day of the opening of the transaction or latest contract reset date.
(b) Amounts include $33,425 of net dividends and financing costs.
  
Summary of Fair Value Disclosure as of July 31, 2024 (Unaudited)
 
EIP Growth and Income Fund has adopted authoritative fair value accounting standards which establish an authoritative definition of fair value and set out a hierarchy for measuring fair value. These standards require additional disclosures about the various inputs and valuation techniques used to develop the measurements of fair value, a discussion of changes in valuation techniques and related inputs during the period, and expanded disclosure of valuation levels for major security types. These inputs are summarized in the three broad levels listed below. The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.
 
Level 1 - Unadjusted quoted prices in active markets for identical assets or liabilities that the Fund has the ability to access.
 
Level 2 - Observable inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. These inputs may include quoted prices for the identical instrument on an inactive market, prices for similar instruments, interest rates, prepayment speeds, credit risk, yield curves, default rates and similar data.
 
Level 3 - Unobservable inputs for the asset or liability, to the extent relevant observable inputs are not available, representing the Fund’s own assumptions about the assumptions a market participant would use in valuing the asset or liability, and would be based on the best information available.
 
The following is a summary of the fair valuation hierarchy of the Fund’s securities as of July 31, 2024:

   
Level 1
    
Level 2
    
Level 3
    
Total
  
Assets:
                        
Investments:
                        
  Common Stocks
  
$
60,326,509
    
$
–
    
$
–
    
$
60,326,509
  
  Master Limited Partnerships
    
20,362,875
      
–
      
–
      
20,362,875
  
  Money Market Funds
    
1,390,296
      
–
      
–
      
1,390,296
  
Total Investments
  
$
82,079,680
    
$
–
    
$
–
    
$
82,079,680
  
   
Other Financial Instruments*:
                                
  Total Return Swaps
    
–
      
102,916
      
–
      
102,916
  
Total Other Financial Instruments
  
$
–
    
$
102,916
    
$
–
    
$
102,916
  
                                 
Liabilities:
                                
Other Financial Instruments*:
                                
  Total Return Swaps
    
–
      
(24,580
)
    
–
      
(24,580
)
Total Other Financial Instruments
  
$
–
    
$
(24,580
)
  
$
–
    
$
(24,580
)
   
* The fair value of the Fund's investment represents the net unrealized appreciation (depreciation) as of July 31, 2024.
  
   
Refer to the Schedule of Investments for further disaggregation of investment categories.