Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of Aug. 31, 2012, the company’s unaudited total assets were approximately $1.6 billion and its unaudited net asset value was $1.1 billion, or $24.68 per share.
As of Aug. 31, 2012, 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 581 percent, and its coverage ratio for preferred shares was 430 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.
The company issued 51,430 shares of common stock under its at-the-market equity offering program for gross proceeds of approximately $1.4 million during the month of August 2012.
Set forth below is a summary of the company’s unaudited balance sheet at Aug. 31, 2012 and a summary of its top 10 holdings.
Unaudited Balance Sheet
|(in Millions)||Per Share|
|Cash and Cash Equivalents||0.2||0.00|
|Receivable for Investments Sold||10.1||0.22|
|Distribution Payable to Common Stockholders||19.2||0.41|
|Payable for Investments Purchased||10.3||0.22|
|Deferred Tax Liability||112.1||2.43|
46.20 million common shares currently outstanding.
Top 10 Holdings (as of Aug. 31, 2012)
MarketValue (in Millions)
% ofInvestment Securities (1)
|El Paso Pipeline Partners, L.P.||$||134.7||8.3||%|
|Enterprise Products Partners L.P.||131.5||8.1||%|
|Williams Partners L.P.||131.2||8.1||%|
|Energy Transfer Partners, L.P.||123.6||7.6||%|
|Regency Energy Partners LP||104.6||6.5||%|
|Boardwalk Pipeline Partners, LP||95.2||5.9||%|
|Spectra Energy Partners, LP||86.6||5.3||%|
|ONEOK Partners, L.P.||80.6||5.0||%|
|Kinder Morgan Management, LLC||65.6||4.0||%|
|Plains All American Pipeline, L.P.||65.6||4.0||%|
(1) Percent of Investments and Cash Equivalents