Top Holdings


As at December 31, 2017


Note:  In certain cases, TRAF does not directly hold title to the individual securities noted but, rather, owns interests in one or more pooled investment vehicles which in turn hold title to such securities. In these situations, the information in this summary shows TRAF's indirect holdings and equivalent economic interests in the underlying securities.


Cash & Short-Term
Greystone Managed Investments

Type %
Treasury Bills 52
Bankers Acceptances 41
Floating Rate Notes 7
  100


Universe Bonds
Greystone Managed Investments

Type %
Federal 39
Provincial 28
Corporate 32
Municipal 1
  100


Long-Term Bonds
TD Asset Management

Type %
Federal 21
Provincial 55
Corporate 22
Municipal 2
  100


Real Estate Debt

Sector %
Industrial 17
Office 26
Residential 31
Retail 25
Mixed Use 1
  100
Property Location %
Ontario 41
Alberta 18
British Columbia 21
Quebec 8
Atlantic Canada 5
Saskatchewan 4
Manitoba 2
US 1
  100


High Yield Debt
Barings LLC

Sector %
Banking 1
Basic Industry 22
Capital Goods 6
Consumer Goods 3
Energy 15
Financial Services 3
Health Care 10
Leisure 3
Media 11
Retail 2
Services 7
Technology & Electronics 7
Telecommunication Services 6
Automotive 1
Utilities 1
Insurance 1
Transportation 1
  100


Private Debt

Holdings by Manager

Committed1
($ thousands)
%2
Northleaf Capital Partners 102,115.8 92.6
Penfund Management 8,187.2 7.4
  110,303.0 100.0

1 Includes co-investments as applicable.
2 Of total Private Debt holdings.

Canadian Equity


Top Ten Holdings
Market Value
($ thousands)

%1
Royal Bank of Canada 45,628.1 5.0
Toronto Dominion Bank 44,073.7 4.8
Bank of Nova Scotia 39,914.5 4.0
Canadian National Railway Company 28,386.2 3.1
Canadian Imperial Bank of Commerce 27,279.7 3.0
Suncor Energy Inc. 25,924.9 2.8
Enbridge Inc. 24,524.9 2.7
Bank of Montreal 19,743.8 3.2
Canadian Natural Resources Ltd. 16,978.6 1.9
TransCanada Corporation 15,090.1 1.6

1 Of total Canadian Equity holdings.


US Equity


Top Ten Holdings
Market Value
($thousands)

%1
Alphabet Inc. 15,207.7 2.3
Facebook Inc.  11,948.1 1.8
Apple Inc.  11,096.5 1.7
Berkshire Hathaway Inc.  10,902.9  1.7
Johnson & Johnson  10,498.8  1.6
JP Morgan Chase & Company 9,350.4 1.4
Microsoft Corporation 9,134.1 1.4
UnitedHealth Group Inc. 8,832.3 1.4
Boeing Company 8,695.8 1.3
Home Depot Inc. 6,682.7 1.0

1 Of total US Equity holdings.


International Equity


Top Ten Holdings
Market Value
($ thousands)

%1
Samsung Electronics Company Ltd. 13,030.7 1.4
Royal Dutch Shell PLC 9,266.0 1.0
Nestle SA 8,155.7 0.9
HSBC Holdings PLC 7,039.9 0.7
Taiwan Semiconductor Limited 6,928.7 0.7
Roche Holdings AG 6,448.3 0.7
Novartis International AG 6,348.5 0.7
Unilever PLC 5,634.0 0.6
Total SA 5,310.9 0.6
BHP Billiton Ltd. 5,218.3 0.6

1 Of total International Equity holdings.

Private Equity Holdings

Holdings by Manager

Committed1
($ thousands)
%2
Adams Street Partners
214,863.6 42.8
Northleaf Capital Partners 185,168.9 36.8
Brookfield Capital Partners 20,216.4 4.0
Torquest Partners 16,827.6 3.4
Advent International 11,737.2 2.3
Penfund Management 7,004.0 1.4
TriWest Capital Partners 4,578.7 0.9
Other 42,325.3 8.4
  502,721.7 100.0

1 Includes co-investments as applicable.
2
Of total Private Equity holdings.


Real Estate

Greystone Managed Investments

Top Ten Holdings Market Value1
($ thousands)
%2
Lougheed Town Centre (Burnaby) 40,653.0 4.2
Bramalea City Centre (Brampton) 34,657.4 3.6
Uptown (Victoria) 29,681.8 3.1
333 Seymour Street (Vancouver) 27,573.8 2.9
Crossroads Shopping Centre (Winnipeg) 25,544.4 2.6
40 University Avenue (Toronto) 23,829.2 2.5
Glenwood Industrial Estates (Burnaby) 22,017.8 2.3
Border Business Park (Nisku) 20,302.8 2.1
Colebrook Business Centre (Surrey) 20,161.8 2.1
Gateway Business Park (Edmonton) 18,744.7 1.9

1 Appraised value of TRAF's interest, adjusted for proportionate share of working capital and mortgage debt.
2
Of total Real Estate holdings.

 

Property Type %
Office 31
Industrial 20
Retail 28
Residential 21
  100
Property Location %
Ontario 50
Alberta 16
British Columbia 18
Manitoba 6
Saskatchewan 3
Atlantic Canada 4
Quebec 3
  100


Infrastructure Holdings

Holdings by Manager

Committed1
($ thousands)
%2
Kindle Capital Management 67,773.4 32.1
Macquarie Infrastructure and Real Assets 54,627.2 25.9
Aquila Infrastructure Management 46,704.0 22.1
Brookfield Infrastructure Partners 30,917.3 14.7
Global Infrastructure Partners 10,899.6 5.2
  210,921.5 100.0

1Includes co-investments as applicable.
2 Of total Infrastructure holdings.