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Top Closed-End Funds Sniff Out Energy Bets

Stock quotes in this article: KMR , EPD , PAA , ETP , TYY , FEN , TYG , TYN , GRF , MTP , RCS , EFL , HPS , MAB  

Some of the leading closed-end funds returned as much as 13% in August, with four of the top 10 exposed to the energy sector in one form or another. All this with a pullback in the price of oil.

The key seems to be non-diversification -- that is, focus on a few quality companies. For the top three funds, 50% to 60% of total assets are invested in their top 10 holdings.

The funds also share many common stock holdings. ...

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