Portfolio concentration
As of April 30, 2026 · N-PORT
Holdings
30
Top-10 weight
83.35%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
11
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
270.6
Holdings
As of April 30, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | MLP | ET | 3,952,654 | $79.80M | 17.20% |
| 2 | PLAINS ALL AMER PIPELINE LP PARTNERSHIP SHARES | PAA | 3,122,044 | $71.87M | 15.49% |
| 3 | SUNOCO LP PARTNERSHIP SHARES | SUN | 983,027 | $68.47M | 14.76% |
| 4 | Enterprise Products Partners LP | — | 1,530,268 | $59.22M | 12.77% |
| 5 | MPLX LP PARTNERSHIP SHARES | MPLX US | 1,014,477 | $57.08M | 12.31% |
| 6 | WESTERN MIDSTREAM PARTNERS LP MLP | WES US | 1,247,687 | $54.25M | 11.70% |
| 7 | HESS MIDSTREAM LP - CLASS A COMMON STOCK | HESM | 599,845 | $23.45M | 5.06% |
| 8 | WILLIAMS COS INC | — | 218,901 | $16.70M | 3.60% |
| 9 | TARGA RESOURCES CORP | — | 59,463 | $15.47M | 3.33% |
| 10 | CHENIERE ENERGY PARTNERS LP PARTNERSHIP SHARES | CQP | 228,963 | $15.35M | 3.31% |
| 11 | CHENIERE ENERGY INC | — | 52,325 | $14.39M | 3.10% |
| 12 | KINDER MORGAN INC | — | 425,032 | $13.97M | 3.01% |
| 13 | GENESIS ENERGY L.P. PARTNERSHIP SHARES | GEL | 638,417 | $11.10M | 2.39% |
| 14 | USA COMPRESSION PARTNERS LP PARTNERSHIP SHARES | USAC | 317,921 | $8.73M | 1.88% |
| 15 | DELEK LOGISTICS PARTNERS LP PARTNERSHIP SHARES | DKL | 138,720 | $7.37M | 1.59% |
| 16 | ONEOK INC | — | 77,021 | $7.12M | 1.54% |
| 17 | TC ENERGY CORP | — | 92,205 | $6.17M | 1.33% |
| 18 | GLOBAL PARTNERS LP PARTNERSHIP SHARES | GLP | 111,352 | $5.37M | 1.16% |
| 19 | MARATHON PETROLEUM CORP | — | 13,140 | $3.26M | 0.70% |
| 20 | Energy Transfer LP | ET I | 251,684 | $3.03M | 0.65% |
| 21 | RBC BlueBay US Government Money Market Fund | TUGXX | 2,907,391 | $2.91M | 0.63% |
| 22 | GOLDMAN SACHS FIN GOV 465 | — | 2,907,391 | $2.91M | 0.63% |
| 23 | HF SINCLAIR CORP | — | 25,476 | $1.71M | 0.37% |
| 24 | VALERO ENERGY CORP | — | 5,026 | $1.27M | 0.27% |
| 25 | PHILLIPS 66 | — | 6,129 | $1.10M | 0.24% |
| 26 | Suburban Propane Partners LP / Suburban Energy Finance Corporation UNIT LTD PARTNERSHIP INT | SPH | 46,234 | $929.30K | 0.20% |
| 27 | VENTURE GLOBAL INC | — | 38,847 | $515.50K | 0.11% |
| 28 | KINETIK HOLDINGS INC | — | 5,077 | $256.59K | 0.06% |
| 29 | ENBRIDGE INC | — | 1,606 | $89.00K | 0.02% |
| 30 | Brookfield Infrastructure Finance ULC, Pfd. | BIPH | 1,078 | $17.72K | 0.00% |
| 31 | LNG A 2026-03-20 CALL 230 | — | -100 | $0 | 0.00% |
| 32 | Kinder Morgan, Inc. | — | -500 | $0 | 0.00% |
| 33 | Kinder Morgan, Inc. | — | -236 | $0 | 0.00% |
| 34 | LNG A 2026-03-20 CALL 230 | — | -1 | -$282 | -0.00% |
| 35 | Kinder Morgan, Inc. | — | -250 | -$1.25K | -0.00% |
| 36 | Phillips 66 | — | -100 | -$1.60K | -0.00% |
| 37 | Phillips 66 | — | -100 | -$2.00K | -0.00% |
| 38 | Phillips 66 | — | -100 | -$2.20K | -0.00% |
| 39 | Williams Cos, Inc./The | — | -500 | -$2.50K | -0.00% |
| 40 | VENTURE GLOBAL INC-CL A CFD | — | -150 | -$2.70K | -0.00% |
| 41 | Marathon Petroleum Corp. | — | -100 | -$2.80K | -0.00% |
| 42 | Phillips 66 | — | -100 | -$2.90K | -0.00% |
| 43 | Marathon Petroleum Corp. | — | -100 | -$3.75K | -0.00% |
| 44 | CFD_EQS FIN LEG TARGA RES | TRGP | -100 | -$4.90K | -0.00% |
| 45 | LNG A 2026-03-20 CALL 230 | — | -100 | -$5.10K | -0.00% |
| 46 | Valero Energy Corp. | — | -100 | -$5.50K | -0.00% |
| 47 | Phillips 66 | — | -100 | -$5.50K | -0.00% |
| 48 | Valero Energy Corp. | — | -100 | -$5.50K | -0.00% |
| 49 | Valero Energy Corp. | — | -100 | -$6.50K | -0.00% |
| 50 | LNG A 2026-03-20 CALL 230 | — | -100 | -$6.90K | -0.00% |
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