Tortoise Pipeline & Energy Fund, Inc.
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SCHEDULE OF INVESTMENTS (Unaudited)
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February 28, 2013
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Common Stock - 86.0% (1)
|
Shares
|
Fair Value
|
|||||||
Crude/Refined Products Pipelines - 6.0% (1)
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Canada - 6.0% (1)
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Enbridge Inc.
|
268,300 | $ | 11,955,448 | ||||||
Pembina Pipeline Corporation
|
168,800 | 4,737,040 | |||||||
16,692,488 | |||||||||
Local Distribution Companies - 12.3% (1)
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|||||||||
United States - 12.3% (1)
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CenterPoint Energy, Inc.
|
728,600 | 15,613,898 | |||||||
NiSource Inc.
|
663,200 | 18,370,640 | |||||||
33,984,538 | |||||||||
Marine Transportation - 2.2% (1)
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|||||||||
Republic of the Marshall Islands - 2.2% (1)
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Teekay Offshore Partners L.P.
|
223,330 | 6,251,007 | |||||||
Natural Gas Gathering Pipelines - 3.7% (1)
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United States - 3.7% (1)
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Targa Resources Corp.
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166,600 | 10,162,600 | |||||||
Natural Gas Pipelines - 40.9% (1)
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Canada - 6.3% (1)
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|||||||||
Keyera Corp.
|
17,550 | 926,640 | |||||||
TransCanada Corporation
|
350,500 | 16,301,755 | |||||||
United States - 34.6% (1)
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Kinder Morgan, Inc.
|
266,000 | 9,860,620 | |||||||
National Fuel Gas Company
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13,400 | 779,746 | |||||||
ONEOK, Inc.
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373,900 | 16,821,761 | |||||||
Questar Corporation
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330,750 | 7,775,932 | |||||||
Spectra Energy Corp
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910,300 | 26,435,112 | |||||||
Williams Companies, Inc.
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978,950 | 33,979,354 | |||||||
112,880,920 | |||||||||
Oil and Gas Production - 19.8% (1)
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United Kingdom - 1.0% (1)
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BP p.l.c. (ADR) (2)
|
68,500 | 2,767,400 | |||||||
United States - 18.8% (1)
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Anadarko Petroleum Corporation (2)
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63,200 | 5,029,456 | |||||||
Apache Corporation (2)
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50,900 | 3,780,343 | |||||||
Chevron Corporation
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13,300 | 1,558,095 | |||||||
Continental Resources, Inc. (2)(3)
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38,800 | 3,414,400 | |||||||
Denbury Resources Inc. (2)(3)
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184,600 | 3,344,952 | |||||||
Devon Energy Corporation (2)
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48,800 | 2,647,888 | |||||||
EOG Resources, Inc. (2)
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27,100 | 3,406,741 | |||||||
Exxon Mobil Corporation
|
16,900 | 1,513,395 | |||||||
Hess Corporation (2)
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49,000 | 3,258,500 | |||||||
Marathon Oil Corporation (2)
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150,400 | 5,038,400 | |||||||
Newfield Exploration Company (2)(3)
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119,300 | 2,758,216 | |||||||
Occidental Petroleum Corporation (2)
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49,200 | 4,050,636 | |||||||
Pioneer Natural Resources Company (2)
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41,800 | 5,258,858 | |||||||
Range Resources Corporation (2)
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43,100 | 3,310,080 | |||||||
Whiting Petroleum Corporation (2)(3)
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71,900 | 3,501,530 | |||||||
54,638,890 | |||||||||
Refining - 1.1% (1)
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United States - 1.1% (1)
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HollyFrontier Corporation (2)
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52,400 | 2,944,880 | |||||||
Total Common Stock (Cost $208,675,213)
|
237,555,323 | ||||||||
Master Limited Partnerships and Related Companies - 44.3% (1)
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Crude/Refined Products Pipelines - 15.3% (1)
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United States - 15.3% (1)
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Buckeye Partners, L.P.
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48,796 | 2,717,937 | |||||||
Enbridge Energy Management, L.L.C. (4)
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465,647 | 12,726,130 | |||||||
Holly Energy Partners, L.P.
|
63,900 | 2,636,514 | |||||||
Magellan Midstream Partners, L.P.
|
76,700 | 3,847,272 | |||||||
MPLX LP
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102,268 | 3,343,141 | |||||||
Plains All American Pipeline, L.P.
|
240,400 | 13,161,900 | |||||||
Rose Rock Midstream, L.P.
|
28,714 | 976,276 | |||||||
Sunoco Logistics Partners L.P.
|
45,800 | 2,863,874 | |||||||
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42,273,044 | ||||||||
Natural Gas/Natural Gas Liquids Pipelines - 21.8% (1)
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|||||||||
United States - 21.8% (1)
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Energy Transfer Partners, L.P.
|
179,900 | 8,619,009 | |||||||
Enterprise Products Partners L.P.
|
175,093 | 9,922,520 | |||||||
Inergy Midstream, L.P.
|
82,000 | 1,963,080 | |||||||
Inergy Midstream, L.P. (5)
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83,333 | 1,929,992 | |||||||
Kinder Morgan Management, LLC (4)
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252,704 | 20,931,492 | |||||||
ONEOK Partners, L.P.
|
82,000 | 4,494,420 | |||||||
Regency Energy Partners LP
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219,600 | 5,224,284 | |||||||
Williams Partners L.P.
|
141,800 | 7,047,460 | |||||||
60,132,257 | |||||||||
Natural Gas Gathering/Processing - 7.2% (1)
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United States - 7.2% (1)
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Access Midstream Partners, L.P.
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119,700 | 4,457,628 | |||||||
Copano Energy, L.L.C.
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48,265 | 1,861,098 | |||||||
DCP Midstream Partners, LP
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36,350 | 1,476,901 | |||||||
MarkWest Energy Partners, L.P.
|
59,850 | 3,421,625 | |||||||
Southcross Energy Partners, L.P.
|
39,112 | 896,056 | |||||||
Targa Resources Partners LP
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84,825 | 3,493,942 | |||||||
Western Gas Equity Partners, LP
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61,652 | 2,094,319 | |||||||
Western Gas Partners LP
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42,905 | 2,352,910 | |||||||
20,054,479 | |||||||||
Total Master Limited Partnerships and Related Companies (Cost $108,001,300)
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122,459,780 | ||||||||
Short-Term Investment - 0.1% (1)
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United States Investment Company - 0.1% (1)
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Fidelity Institutional Money Market Portfolio - Class I, 0.12% (6) (Cost $271,724)
|
271,724 | 271,724 | |||||||
Total Investments - 130.4% (1) (Cost $316,948,237)
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360,286,827 | ||||||||
Long-Term Debt Obligations - (17.7%) (1)
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(49,000,000 | ) | |||||||
Mandatory Redeemable Preferred Stock at Liquidation Value - (5.8%) (1)
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(16,000,000 | ) | |||||||
Total Value of Options Written (Premiums received $520,575) - (0.1%) (1)
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(273,042 | ) | |||||||
Other Assets and Liabilities - (6.8%) (1)
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(18,803,133 | ) | |||||||
Total Net Assets Applicable to Common Stockholders - 100.0% (1)
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$ | 276,210,652 | |||||||
(1)
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Calculated as a percentage of net assets applicable to common stockholders.
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(2)
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All or a portion of the security represents cover for outstanding call option contracts written.
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(3)
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Non-income producing security.
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(4)
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Security distributions are paid-in-kind.
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(5)
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Restricted securities have been fair valued in accordance with procedures approved by the Board of Directors and have
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a total fair value of $1,929,992, which represents 0.7% of net assets.
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(6)
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Rate indicated is the current yield as of February 28, 2013.
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Key to abbreviation
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ADR = American Depository Receipts
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Tortoise Pipeline & Energy Fund, Inc.
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SCHEDULE OF OPTIONS WRITTEN (Unaudited)
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February 28, 2013
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Call Options Written
|
Expiration Date
|
Strike Price
|
Contracts
|
Fair Value
|
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Anadarko Petroleum Corporation
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March 2013
|
$ | 87.50 | 626 | $ | (14,398 | ) | ||||
Apache Corporation
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March 2013
|
82.50 | 509 | (2,036 | ) | ||||||
BP p.l.c. (ADR)
|
March 2013
|
44.00 | 685 | (6,165 | ) | ||||||
Continental Resources, Inc.
|
March 2013
|
90.00 | 388 | (36,860 | ) | ||||||
Denbury Resources Inc.
|
March 2013
|
20.00 | 1,846 | (9,230 | ) | ||||||
Devon Energy Corporation
|
March 2013
|
62.50 | 488 | (1,464 | ) | ||||||
EOG Resources, Inc.
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March 2013
|
140.00 | 271 | (2,168 | ) | ||||||
Hess Corporation
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March 2013
|
72.50 | 490 | (10,290 | ) | ||||||
HollyFrontier Corporation
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March 2013
|
58.50 | 524 | (28,820 | ) | ||||||
Marathon Oil Corporation
|
March 2013
|
36.00 | 1,504 | (7,520 | ) | ||||||
Newfield Exploration Company
|
March 2013
|
29.00 | 1,193 | (3,579 | ) | ||||||
Occidental Petroleum Corporation
|
March 2013
|
90.00 | 484 | (1,452 | ) | ||||||
Pioneer Natural Resources Company
|
March 2013
|
140.00 | 418 | (6,270 | ) | ||||||
Range Resources Corporation
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March 2013
|
75.00 | 431 | (124,990 | ) | ||||||
Whiting Petroleum Corporation
|
March 2013
|
52.50 | 712 | (17,800 | ) | ||||||
Total Value of Call Options Written (Premiums received $520,575)
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$ | (273,042 | ) | ||||||||
Key to abbreviation
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ADR = American Depository Receipts
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Description
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Fair Value at
February 28, 2013
|
Level 1
|
Level 2
|
Level 3
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Assets
|
||||||||||||
Equity Securities:
|
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Common Stock (a)
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$ | 237,555,323 | $ | 237,555,323 | $ | - | $ | - | ||||
Master Limited Partnerships and Related Companies(a)
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122,459,780 | 120,529,788 | 1,929,992 | - | ||||||||
Total Equity Securities
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360,015,103 | 358,085,111 | 1,929,992 | - | ||||||||
Other:
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Short-Term Investment(b)
|
271,724 | 271,724 | - | - | ||||||||
Total Assets
|
$ | 360,286,827 | $ | 358,356,835 | $ | 1,929,992 | $ | - | ||||
Liabilities
|
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Written Call Options
|
$ | 273,042 | $ | 273,042 | $ | - | $ | - |
(a)
|
All other industry classifications are identified in the Schedule of Investments.
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(b)
|
Short-term investment is a sweep investment for cash balances in the Company at February 28, 2013.
|
Investment Security
|
Number of Shares
|
Acquisition Date
|
Acquisition
Cost
|
Fair Value
|
Fair Value
Per Share
|
Fair Value as
Percent of
Net Assets
|
||
Inergy Midstream, L.P.
|
Unregistered Common Units
|
83,333
|
12/7/12
|
$ 1,749,993
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$ 1,929,992
|
$ 23.16
|
0.7%
|
(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.
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(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.
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Tortoise Pipeline & Energy Fund, Inc.
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Date: April 23, 2013
|
By:
|
/s/ Terry Matlack | |
Terry Matlack | |||
Chief Executive Officer | |||
Tortoise Pipeline & Energy Fund, Inc.
|
|||
Date: April 23, 2013
|
By:
|
/s/ Terry Matlack | |
Terry Matlack | |||
Chief Executive Officer | |||
Tortoise Pipeline & Energy Fund, Inc.
|
|||
Date: April 23, 2013
|
By:
|
/s/ P. Bradley Adams | |
P. Bradley Adams | |||
Chief Financial Officer | |||