Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of July 31, 2011, the company’s unaudited total assets were approximately $1.6 billion and its unaudited net asset value was $1.1 billion, or $24.90 per share.
As of July 31, 2011, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 534 percent, and its coverage ratio for preferred shares was 405 percent. For more information on calculation of coverage ratios, please refer to our most recent applicable prospectus.
Set forth below is a summary of the company’s unaudited balance sheet at July 31, 2011 and a summary of its top 10 holdings.
Unaudited Balance Sheet
|(in Millions)||Per Share|
|Cash and Cash Equivalents||0.2||0.00|
|Receivable for Investments Sold||5.0||0.11|
|Payable for Investments Purchased||4.1||0.09|
|Deferred Tax Liability||61.1||1.34|
|Net Assets||$1,135.1||$ 24.90|
45.59 million common shares currently outstanding.
Top 10 Holdings (as of July 31, 2011)
MarketValue (in Millions)
% ofInvestment Securities (1)
|Williams Partners L.P.||$ 135.0||8.7%|
|Energy Transfer Partners, L.P.||131.5||8.4%|
|Regency Energy Partners LP||116.1||7.5%|
|El Paso Pipeline Partners, L.P.||113.6||7.3%|
|Enterprise Products Partners L.P.||111.6||7.2%|
|Boardwalk Pipeline Partners, LP||104.0||6.7%|
|ONEOK Partners, L.P.||69.0||4.4%|
|Targa Resources Partners LP||58.8||3.8%|
|Spectra Energy Partners, LP||56.8||3.6%|
(1) Percent of Investments and Cash Equivalents
About Tortoise MLP Fund, Inc.Tortoise MLP Fund, Inc. owns a portfolio of master limited partnership (MLP) investments in the energy infrastructure sector, with an emphasis on natural gas infrastructure MLPs. Tortoise MLP Fund, Inc.’s goal is to provide its stockholders a high level of total return with an emphasis on current distributions.