Tortoise MLP Fund, Inc. (NYSE: NTG) today announced that as of Aug. 31, 2013, the company’s unaudited total assets were approximately $1.9 billion and its unaudited net asset value was $1.3 billion, or $27.44 per share.
As of Aug. 31, 2013, the company was in compliance with its asset coverage ratios under the Investment Company Act of 1940 (the 1940 Act) and basic maintenance covenants. The company’s asset coverage ratio under the 1940 Act with respect to senior securities representing indebtedness was 640 percent, and its coverage ratio for preferred shares was 473 percent. For more information on calculation of coverage ratios, please refer to the company’s most recent applicable prospectus.
Set forth below is a summary of the company’s unaudited balance sheet at Aug. 31, 2013 and a summary of its top 10 holdings.
Unaudited Balance Sheet
|(in Millions)||Per Share|
|Cash and Cash Equivalents||5.9||0.13|
|Receivable for Investments Sold||0.3||0.01|
|Distribution Payable to Common Stockholders||19.6||0.42|
|Deferred Tax Liability||232.7||4.96|
46.93 million common shares currently outstanding.
Top 10 Holdings (as of Aug. 31, 2013)
MarketValue (in Millions)
% ofInvestment Securities (1)
|Energy Transfer Partners, L.P.||$||148.4||7.9||%|
|Spectra Energy Partners, L.P.||140.0||7.4||%|
|El Paso Pipeline Partners, L.P.||131.3||7.0||%|
|Enterprise Products Partners L.P.||128.1||6.8||%|
|Regency Energy Partners, L.P.||122.2||6.5||%|
|Boardwalk Pipeline Partners, LP||105.9||5.6||%|
|Williams Partners, L.P.||95.7||5.1||%|
|Plains All American Pipeline, L.P.||80.7||4.3||%|
|Buckeye Partners, L.P.||77.8||4.1||%|
|Kinder Morgan Management, LLC||75.1||4.0||%|
(1) Percent of Investments and Cash EquivalentsAbout 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.
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