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TPZ invests in equity and fixed income securities, mainly in US electrification infrastructure companies that are expected to provide consistent income regardless of the economic cycle. The fund invests in companies that use long-lived assets for the generation, transmission, and distribution of electric power, and related energy infrastructure such as utilities, pipelines, LNG facilities, and renewable energy assets. Fixed income investments may be of any maturity, comprising up to 50% of the portfolio. The fund caps junk bonds to 25%, MLPs to 25%, and non-US issuers to 10%. In addition, the actively managed fund employs a covered call strategy against select equity positions. Starting with $313 million in assets, the ETF is the product of the merger of three closed-end funds: Tortoise Power and Energy Infrastructure (TPZ), Tortoise Energy Independence Fund, Inc. (NDP), and Tortoise Pipeline & Energy Fund, Inc. Before Jan 1, 2026, the fund was named Tortoise Essential Energy Fund.
| Symbol | Name | Weight | Market Value |
|---|---|---|---|
| ET | Energy Transfer LP | 7.02% | $9.09M |
| ETR | Entergy Corp | 6.39% | $8.26M |
| TRGP | Targa Resources Corp | 5.87% | $7.59M |
| LNG | Cheniere Energy Inc | 5.72% | $7.39M |
| WMB | Williams Cos Inc/The | 5.57% | $7.20M |
| TRP | TC Energy Corp | 5.27% | $6.81M |
| CEG | Constellation Energy Corp | 4.98% | $6.44M |
| MPLX | MPLX LP | 4.45% | $5.76M |
| VST | Vistra Corp | 3.93% | $5.09M |
| NRG | NRG Energy Inc | 3.89% | $5.03M |
| DTM | DT Midstream Inc | 3.77% | $4.88M |
| CNP | CenterPoint Energy Inc | 3.74% | $4.84M |
| OKE | ONEOK Inc | 3.64% | $4.71M |
| SRE | Sempra | 3.38% | $4.37M |
| WEC | WEC Energy Group Inc | 3.33% | $4.31M |
| EPD | Enterprise Products Partners LP | 3.11% | $4.03M |
| NEE | NextEra Energy Inc | 2.97% | $3.84M |
| NI | NiSource Inc | 2.90% | $3.75M |
| AEP | American Electric Power Co Inc | 2.86% | $3.70M |
| DTE | DTE Energy Co | 2.76% | $3.57M |
| ENB | Enbridge Inc | 2.29% | $2.96M |
| MTZ | MasTec Inc | 1.56% | $2.01M |
| PWR | Quanta Services Inc | 1.45% | $1.88M |
| WES | Western Midstream Partners LP | 1.40% | $1.81M |
| TLN | Talen Energy Corp | 1.20% | $1.56M |