Tortoise Pipeline & Energy Fund, Inc.
|
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SCHEDULE OF INVESTMENTS (Unaudited)
|
|||||||||
August 31, 2013
|
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Common Stock - 85.1%(1)
|
Shares
|
Fair Value
|
|||||||
Crude/Refined Products Pipelines - 5.9%(1)
|
|||||||||
Canada - 5.9%(1)
|
|||||||||
Enbridge Inc.
|
268,300 | $ | 10,986,885 | ||||||
Pembina Pipeline Corporation
|
199,200 | 6,180,439 | |||||||
17,167,324 | |||||||||
Local Distribution Companies - 12.6%(1)
|
|||||||||
United States - 12.6%(1)
|
|||||||||
CenterPoint Energy, Inc.
|
926,500 | 21,244,645 | |||||||
NiSource Inc.
|
533,600 | 15,613,136 | |||||||
36,857,781 | |||||||||
Marine Transportation - 2.4%(1)
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|||||||||
Republic of the Marshall Islands - 2.4%(1)
|
|||||||||
Teekay Offshore Partners L.P.
|
223,330 | 7,095,194 | |||||||
Natural Gas Gathering Pipelines - 3.9%(1)
|
|||||||||
United States - 3.9%(1)
|
|||||||||
Targa Resources Corp.
|
166,600 | 11,343,794 | |||||||
Natural Gas Pipelines - 39.0%(1)
|
|||||||||
Canada - 3.1%(1)
|
|||||||||
Keyera Corp.
|
17,550 | 960,226 | |||||||
TransCanada Corporation
|
187,700 | 8,187,474 | |||||||
United States - 35.9%(1)
|
|||||||||
Kinder Morgan, Inc.
|
266,000 | 10,089,380 | |||||||
National Fuel Gas Company
|
13,400 | 874,752 | |||||||
ONEOK, Inc.
|
450,200 | 23,158,288 | |||||||
Questar Corporation
|
330,750 | 7,250,040 | |||||||
Spectra Energy Corp
|
965,100 | 31,954,461 | |||||||
Williams Companies, Inc.
|
880,900 | 31,923,816 | |||||||
114,398,437 | |||||||||
Oil and Gas Production - 19.9%(1)
|
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United Kingdom - 1.0%(1)
|
|||||||||
BP p.l.c. (ADR)(2)
|
69,800 | 2,882,740 | |||||||
United States - 18.9%(1)
|
|||||||||
Anadarko Petroleum Corporation(2)
|
46,900 | 4,287,598 | |||||||
Apache Corporation(2)
|
55,000 | 4,712,400 | |||||||
Cabot Oil & Gas Corporation(2)
|
126,400 | 4,946,032 | |||||||
Chesapeake Energy Corporation(2)
|
69,200 | 1,786,052 | |||||||
Continental Resources, Inc.(2)(3)
|
46,300 | 4,271,638 | |||||||
Denbury Resources Inc.(2)(3)
|
66,000 | 1,141,140 | |||||||
EOG Resources, Inc.(2)
|
24,300 | 3,816,315 | |||||||
Hess Corporation(2)
|
38,700 | 2,896,695 | |||||||
Marathon Oil Corporation(2)
|
132,700 | 4,568,861 | |||||||
Newfield Exploration Company(2)(3)
|
48,700 | 1,160,034 | |||||||
Noble Energy, Inc.(2)
|
74,400 | 4,570,392 | |||||||
Occidental Petroleum Corporation(2)
|
50,000 | 4,410,500 | |||||||
Pioneer Natural Resources Company(2)
|
29,500 | 5,161,615 | |||||||
Range Resources Corporation(2)
|
53,300 | 3,996,434 | |||||||
Southwestern Energy Company(2)(3)
|
35,600 | 1,359,920 | |||||||
Whiting Petroleum Corporation(2)(3)
|
49,500 | 2,498,265 | |||||||
58,466,631 | |||||||||
Power/Utility - 1.4% (1)
|
|||||||||
United States - 1.4% (1)
|
|||||||||
NRG Yield, Inc.
|
145,100 | 4,042,486 | |||||||
Total Common Stock (Cost $208,861,566)
|
249,371,647 | ||||||||
Master Limited Partnerships and Related Companies - 44.4% (1)
|
|||||||||
Crude/Refined Products Pipelines - 17.3%(1)
|
|||||||||
United States - 17.3%(1)
|
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Buckeye Partners, L.P.
|
83,000 | 5,810,000 | |||||||
Enbridge Energy Management, L.L.C.(4)
|
547,317 | 16,414,031 | |||||||
Genesis Energy L.P.
|
18,700 | 910,129 | |||||||
Holly Energy Partners, L.P.
|
63,900 | 2,270,367 | |||||||
Magellan Midstream Partners, L.P.
|
76,700 | 4,161,742 | |||||||
MPLX LP
|
102,268 | 3,650,968 | |||||||
Phillips 66 Partners LP
|
59,100 | 1,818,507 | |||||||
Plains All American Pipeline, L.P.
|
213,300 | 10,784,448 | |||||||
Rose Rock Midstream, L.P.
|
28,714 | 938,086 | |||||||
Sunoco Logistics Partners L.P.
|
61,400 | 3,944,336 | |||||||
|
50,702,614 | ||||||||
Natural Gas/Natural Gas Liquids Pipelines - 19.4%(1)
|
|||||||||
United States - 19.4%(1)
|
|||||||||
Energy Transfer Partners, L.P.
|
199,700 | 10,238,619 | |||||||
Enterprise Products Partners L.P.
|
163,200 | 9,697,344 | |||||||
Inergy Midstream, L.P.
|
165,333 | 3,842,339 | |||||||
Kinder Morgan Management, LLC(4)
|
260,464 | 20,795,427 | |||||||
ONEOK Partners, L.P.
|
48,900 | 2,424,951 | |||||||
Regency Energy Partners LP
|
219,600 | 5,935,788 | |||||||
Williams Partners L.P.
|
75,200 | 3,709,616 | |||||||
56,644,084 | |||||||||
Natural Gas Gathering/Processing - 7.7%(1)
|
|||||||||
United States - 7.7%(1)
|
|||||||||
Access Midstream Partners, L.P.
|
119,700 | 5,459,517 | |||||||
DCP Midstream Partners, LP
|
97,900 | 4,692,347 | |||||||
MarkWest Energy Partners, L.P.
|
59,850 | 3,997,381 | |||||||
Targa Resources Partners LP
|
70,000 | 3,420,200 | |||||||
Western Gas Equity Partners, LP
|
61,652 | 2,427,856 | |||||||
Western Gas Partners LP
|
42,905 | 2,537,402 | |||||||
22,534,703 | |||||||||
Total Master Limited Partnerships and Related Companies (Cost $107,198,873)
|
129,881,401 | ||||||||
Short-Term Investment - 0.0%(1)
|
|||||||||
United States Investment Company - 0.0%(1)
|
|||||||||
Fidelity Institutional Money Market Portfolio - Class I, 0.05%(5) (Cost $100,637)
|
100,637 | 100,637 | |||||||
Total Investments - 129.5%(1) (Cost $316,161,076)
|
379,353,685 | ||||||||
Long-Term Debt Obligations - (16.7%)(1)
|
(49,000,000 | ) | |||||||
Mandatory Redeemable Preferred Stock at Liquidation Value - (5.5%)(1)
|
(16,000,000 | ) | |||||||
Total Value of Options Written (Premiums received $626,731) - (0.2%)(1)
|
(587,445 | ) | |||||||
Other Assets and Liabilities - (7.1%)(1)
|
(20,808,684 | ) | |||||||
Total Net Assets Applicable to Common Stockholders - 100.0%(1)
|
$ | 292,957,556 | |||||||
(1)
|
Calculated as a percentage of net assets applicable to common stockholders.
|
||||||||
(2)
|
All or a portion of the security represents cover for outstanding call option contracts written.
|
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(3)
|
Non-income producing security.
|
||||||||
(4)
|
Security distributions are paid-in-kind.
|
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(5)
|
Rate indicated is the current yield as of August 31, 2013.
|
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Key to abbreviation
|
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ADR = American Depository Receipts
|
Tortoise Pipeline & Energy Fund, Inc.
|
|||||||
SCHEDULE OF OPTIONS WRITTEN (Unaudited)
|
|||||||
August 31, 2013
|
|
||||||
Call Options Written
|
ExpirationDate
|
Strike Price
|
Contracts
|
Fair Value
|
|||
Anadarko Petroleum Corporation
|
September 2013
|
$ 97.50
|
469
|
$ (20,167)
|
|||
Apache Corporation
|
September 2013
|
80.00
|
180
|
(108,900)
|
|||
Apache Corporation
|
September 2013
|
87.50
|
370
|
(41,440)
|
|||
BP p.l.c. (ADR)
|
September 2013
|
43.00
|
695
|
(10,425)
|
|||
Cabot Oil & Gas Corporation
|
September 2013
|
40.00
|
1,264
|
(94,800)
|
|||
Chesapeake Energy Corporation
|
September 2013
|
26.00
|
692
|
(45,672)
|
|||
Continental Resources, Inc.
|
September 2013
|
100.00
|
463
|
(11,575)
|
|||
Denbury Resources Inc.
|
September 2013
|
18.00
|
660
|
(10,560)
|
|||
EOG Resources, Inc.
|
September 2013
|
165.00
|
243
|
(27,216)
|
|||
Hess Corporation
|
September 2013
|
80.00
|
387
|
(8,901)
|
|||
Marathon Oil Corporation
|
September 2013
|
36.00
|
1,327
|
(31,848)
|
|||
Newfield Exploration Company
|
September 2013
|
26.00
|
487
|
(7,305)
|
|||
Noble Energy, Inc.
|
September 2013
|
67.50
|
744
|
(7,440)
|
|||
Occidental Petroleum Corporation
|
September 2013
|
92.50
|
500
|
(18,500)
|
|||
Pioneer Natural Resources Company
|
September 2013
|
180.00
|
295
|
(82,600)
|
|||
Range Resources Corporation
|
September 2013
|
82.50
|
533
|
(13,325)
|
|||
Southwestern Energy Company
|
September 2013
|
40.00
|
356
|
(14,596)
|
|||
Whiting Petroleum Corporation
|
September 2013
|
52.50
|
495
|
(32,175)
|
|||
Total Value of Call Options Written (Premiums received $626,731)
|
$ (587,445)
|
||||||
Key to abbreviation
|
|||||||
ADR = American Depository Receipts
|
Description
|
Fair Value at
August 31, 2013
|
Level 1
|
Level 2
|
Level 3
|
||||||||
Assets
|
||||||||||||
Equity Securities:
|
||||||||||||
Common Stock (a)
|
$ | 249,371,647 | $ | 249,371,647 | $ | - | $ | - | ||||
Master Limited Partnerships and Related Companies(a)
|
129,881,401 | 129,881,401 | - | - | ||||||||
Total Equity Securities
|
379,253,048 | 379,253,048 | - | - | ||||||||
Other Securities:
|
||||||||||||
Short-Term Investment(b)
|
100,637 | 100,637 | - | - | ||||||||
Total Assets
|
$ | 379,353,685 | $ | 379,353,685 | $ | - | $ | - | ||||
Liabilities
|
||||||||||||
Written Call Options
|
$ | 587,445 | $ | 587,445 | $ | - | $ | - |
(a)
|
All other industry classifications are identified in the Schedule of Investments.
|
(b)
|
Short-term investment is a sweep investment for cash balances in the Company at August 31, 2013.
|
(a)
|
The registrant’s Chief Executive Officer and its Chief Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.
|
(b)
|
There was no change in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
|
Tortoise Pipeline & Energy Fund, Inc.
|
|||
Date: October 24, 2013
|
By:
|
/s/ Terry Matlack | |
Terry Matlack | |||
Chief Executive Officer | |||
Tortoise Pipeline & Energy Fund, Inc.
|
|||
Date: October 24, 2013
|
By:
|
/s/ Terry Matlack | |
Terry Matlack | |||
Chief Executive Officer | |||
Tortoise Pipeline & Energy Fund, Inc.
|
|||
Date: October 24, 2013
|
By:
|
/s/ P. Bradley Adams | |
P. Bradley Adams | |||
Chief Financial Officer | |||