Pioneer Natural Resources Co

Tortoise Energy Independence Fund
SCHEDULE OF INVESTMENTS (Unaudited)

	February 28, 2022

	Shares		Fair Value
Common Stock - 89.5% ⁽¹⁾
Crude Oil Pipelines - 1.7% ⁽¹⁾
Canada - 1.7% ⁽¹⁾
Enbridge Inc.		23,865	$	1,030,491

Energy Technology - 0.1% ⁽¹⁾
United States - 0.1% ⁽¹⁾
ESS Tech, Inc. ⁽²⁾		11,194		58,097

Natural Gas Gathering/Processing - 4.2% ⁽¹⁾
United States - 4.2% ⁽¹⁾
Baker Hughes Co.		18,968		557,280
Targa Resources Corp.		28,897		1,888,997
				2,446,277
Natural Gas/Natural Gas Liquids Pipelines - 15.3% ⁽¹⁾
Canada - 1.8% ⁽¹⁾
TC Energy Corporation		19,745		1,060,504
United States - 13.5% ⁽¹⁾
Cheniere Energy, Inc.		43,921		5,837,101
Kinder Morgan Inc.		56,165		977,271
The Williams Companies, Inc.		36,175		1,131,554
				9,006,430
Oil and Gas Production - 65.2% ⁽¹⁾
United Kingdom - 1.7% ⁽¹⁾
BP PLC		35,054		1,023,927
United States - 63.5% ⁽¹⁾
Chevron Corp.		27,638		3,979,872
ConocoPhillips		31,390		2,977,655
Continental Resources, Inc.		15,751		873,078
Coterra Energy, Inc.		21,071		491,587
Devon Energy Corp.		79,884		4,757,092
Diamondback Energy, Inc.		37,179		5,134,420
EOG Resources, Inc.		34,587		3,974,738
EQT Corp.		91,877		2,126,034
Exxon Mobil Corp.		34,460		2,702,353
Occidental Petroleum Corp.		58,726		2,568,088
PDC Energy, Inc.		9,914		639,651
Pioneer Natural Resources Company		22,350		5,355,060
Shell PLC		32,093		1,681,352
				38,284,907
Other - 1.1% ⁽¹⁾
United States - 1.1% ⁽¹⁾
Darling Ingredients, Inc. ⁽²⁾		1,957		141,843
Denbury, Inc. ⁽²⁾		6,600		479,556
				621,399
Renewables and Power Infrastructure - 1.9% ⁽¹⁾
United States - 1.9% ⁽¹⁾
American Electric Power Co, Inc.		2,921		264,789
Archaea Energy, Inc. ⁽²⁾		7,593		139,256
Clean Energy Fuels Corp. ⁽²⁾		29,780		216,501
NextEra Energy, Inc.		6,065		474,707
				1,095,253
Total Common Stock
(Cost $31,710,355)				52,542,854

Master Limited Partnerships - 15.1% ⁽¹⁾
Crude Oil Pipelines - 2.5% ⁽¹⁾
United States - 2.5% ⁽¹⁾
Plains All American Pipeline, L.P.		138,737		1,466,450

Natural Gas Gathering/Processing - 2.1% ⁽¹⁾
United States - 2.1% ⁽¹⁾
Western Midstream Partners, LP		48,607		1,265,726

Natural Gas/Natural Gas Liquids Pipelines - 8.8% ⁽¹⁾
United States - 8.8% ⁽¹⁾
DCP Midstream, LP		50,351		1,665,611
Energy Transfer LP		241,059		2,444,338
Enterprise Products Partners L.P.		43,433		1,060,634
				5,170,583
Refined Product Pipelines - 1.6% ⁽¹⁾
United States - 1.6% ⁽¹⁾
Magellan Midstream Partners L.P.		19,323		937,552
Total Master Limited Partnerships
(Cost $7,576,128)				8,840,311

Warrant - 0.0% ⁽¹⁾
Energy Technology - 0.0% ⁽¹⁾
EVgo, Inc. Warrant ⁽²⁾
(Cost $1)		1		1

Short-Term Investment - 0.7% ⁽¹⁾
United States Investment Company - 0.7% ⁽¹⁾
Invesco Government & Agency Portfolio - Institutional Class, 0.035% ⁽³⁾
(Cost $390,162)		390,162		390,162

Total Investments - 105.3% ⁽¹⁾
(Cost $39,676,646)				61,773,328
Other Assets in Excess of Liabilities- 0.1% ⁽¹⁾				77,101
Credit Facility Borrowings - (5.4)% ⁽¹⁾				(3,200,000	)
Total Net Assets Applicable to Common Stockholders - 100.0% ⁽¹⁾			$	58,650,429

(1)	Calculated as a percentage of net assets.
(2)	Non-income producing security.
(3)	Rate indicated is the current yield as of February 28, 2022.


Summary of Fair Value Exposure
The Fund has adopted 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 in 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:

Level 1 - Unadjusted quoted prices in active markets for identical assets or liablities 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.

Following is a description of the valuation techniques applied to the Fund’s major categories of assets and liabilities measured at fair value on a recurring basis. The Fund’s investments are carried at fair value.

Municipal Bonds —Municipal bonds, including listed issues, are valued at fair value on the basis of valuations furnished by an independent pricing service which utilizes both dealer-supplied valuations and formula-based techniques. The pricing service may consider recently executed transactions in securities of the issuer or comparable issuers, market price quotations (where observable), bond spreads, and fundamental data relating to the issuer. Most municipal bonds are categorized in Level 2 of the fair value hierarchy.

Securities for which market quotations are not readily available, or if the closing price does not represent fair value, are valued following procedures approved by the Board of Directors. The Board of Directors will regularly evaluate whether the Fund’s fair value pricing procedures continue to be appropriate in light of the specific circumstances of the Fund and the quality of prices obtained through the application of such procedures by the Fund’s valuation committee.

When fair value pricing is employed, security prices that the Fund uses to calculate its NAV may differ from quoted or published prices for the same securities. Due to the subjective and variable nature of fair value pricing, it is possible that the fair value determined for a particular security may be materially different (higher or lower) than the price of the security quoted or published by others, the value when trading resumes, and/or the value realized upon the security’s sale. Therefore, if a shareholder purchases or redeems Fund shares when the Fund holds securities priced at a fair value, the number of shares purchased or redeemed may be higher or lower than it would be if the Fund were using market value pricing.

The inputs or methodology used for valuing securities are not an indication of the risk associated with investing in those securities.

The following table is a summary of the inputs used to value the Fund’s securities by level within the fair value hierarchy as of February 28, 2022:

	Level 1		Level 2		Level 3		Total
Common Stock^(a)	$	52,542,854	$	-	$	-	$	52,542,854
Master Limited Partnerships^(a)		8,840,311		-		-		8,840,311
Warrants^(a)		1		-		-		1
Short Term Investment^(b)		390,162		-		-		390,162
Total Investments	$	61,773,328	$	-	$	-	$	61,773,328

(a) All other industry classifications are identified in the Schedule of Investments.
(b) Short-term investment is a sweep investment for cash balances.