MLP Specialist Tortoise Capital Discloses Latest High-Yield Holdings (ETP, EPD, RGNC, EPB, WPZ, PAA, MMP, NTG, TYN, TYG, TYY)
Tortoise Capital Advisors is an investment advisory firm that manages a number of publicly traded closed-end funds, as well as private accounts for high-net worth individuals and institutional investors. Across all its investment vehicles, Tortoise managed approximately $5.2 billion in assets at the end of September — up from $4.8 billion at the end of Q2, and $2.5 billion on October 31, 2009 — and the firm’s recently disclosed end-of-Q3 equity holdings show where Tortoise was putting its capital to work in the three months ended September 30.
A look at Tortoise’s top holdings from the end of Q3 shows that the firm was buying across the board, hiking its largest positions in Energy Transfer Partners (ETP) and Enterprise Products Partners (EPD) by 62% and 32% respectively. Meanwhile, the firm more than doubled-down on Regency Energy Partners (RGNC) and El Paso Pipeline Partners (EPB), and upped its Williams Partners (WPZ) stake more than four-fold.
Plains All American Pipeline (PAA) and Magellan Midstream Partners (MMP), which were among end-of-Q2 Pro-favorites in the MLPs Index, were also subject to some buying at Tortoise during the third-quarter.
On a one-month basis, the Tortoise MLP Fund (NTG) is a laggard among MLP-Focused Closed-End Funds and ETFs Index components, but the Tortoise North American Energy Corp (TYN), Tortoise Energy Infrastructure Corp (TYG), and Tortoise Energy Capital Corp (TYY) are all ahead 6% or more for the period.
For more on these stocks, and a look at more holdings from Tortoise’s high-yield portfolio, visit tickerspy.com.
Pro portfolio performance is based on institutions’ top-15 holdings as disclosed in quarter-end filings with the SEC. Pro performance does not take into account additional holdings beyond the top 15 nor does it include positions that are not required to be disclosed by the SEC. As such, Pro portfolio performance should be considered an approximation and not a precise record of how an institution has performed over time.
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