Salient MLP & Energy Infrastructure Fund II

Fund Holdings

Asset Allocation

% Long % Net
Cash 2.71 2.71
Stocks 84.16 84.16
Bonds 0.0 0.0
Other 7.81 7.81
Foreign Bonds 0.0 0.0
Foreign Stocks 5.32 5.32
Convertible 0.0 0.0
Preferred 0.0 0.0

Updated 09.30.2013

Top 10 Holdings

Performance as of 02.28.2014

Portfolio as of 09.30.2013

Ticker YTD Return % % Net Assets
Williams Companies Inc WMB 7.96 7.06
Targa Resources Corp TRGP 10.35 7.05
Kinder Morgan Management LLC KMR -6.07 6.98
ONEOK, Inc. OKE 8.88 5.37
Enbridge Energy Management LLC EEQ -4.38 5.26
LinnCo LLC LNCO -0.02 4.44
NRG Yield Inc NYLD -4.95 4.42
Kinder Morgan, Inc. KMI -10.97 4.33
Semgroup Corp SEMG 2.22 4.28
Spectra Energy Corp SE 4.81 4.19