0001752724-19-154897.txt : 20191029 0001752724-19-154897.hdr.sgml : 20191029 20191029152700 ACCESSION NUMBER: 0001752724-19-154897 CONFORMED SUBMISSION TYPE: NPORT-EX PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190831 FILED AS OF DATE: 20191029 FILER: COMPANY DATA: COMPANY CONFORMED NAME: Nuveen Energy MLP Total Return Fund CENTRAL INDEX KEY: 0001502711 IRS NUMBER: 000000000 STATE OF INCORPORATION: MA FILING VALUES: FORM TYPE: NPORT-EX SEC ACT: 1940 Act SEC FILE NUMBER: 811-22482 FILM NUMBER: 191176148 BUSINESS ADDRESS: STREET 1: 333 WEST WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 BUSINESS PHONE: 312-917-8146 MAIL ADDRESS: STREET 1: 333 WEST WACKER DRIVE CITY: CHICAGO STATE: IL ZIP: 60606 ACCESSION NUMBER: 0001752724-19-154320 NPORT-EX 1 JMF.htm
JMF
Nuveen Energy MLP Total Return Fund
Portfolio of Investments    August 31, 2019
(Unaudited)
Shares/Units   Description (1)           Value
    LONG-TERM INVESTMENTS – 144.8% (100.0% of Total Investments)            
    MASTER LIMITED PARTNERSHIPS & MLP AFFILIATES – 125.7% (86.8% of Total Investments)            
    Oil, Gas & Consumable Fuels – 125.7% (86.8% of Total Investments)            
866,019   Crestwood Equity Partners LP           $31,661,655
802,077   DCP Midstream LP           19,538,596
590,788   Delek Logistics Partners LP           17,392,799
2,001,365   Enable Midstream Partners LP           25,217,199
3,904,453   Energy Transfer LP           53,139,605
1,179,189   Enterprise Products Partners LP           33,618,678
1,159,257   Genesis Energy LP           24,042,990
405,670   Holly Energy Partners LP           10,932,806
642,250   KNOT Offshore Partners LP, (2)           11,926,582
1,867,321   MPLX LP           52,116,929
2,498,135   NGL Energy Partners LP           33,699,841
547,100   PBF Logistics LP           11,379,680
537,645   Phillips 66 Partners LP           29,554,346
1,475,948   Plains All American Pipeline LP           31,629,566
554,025   Summit Midstream Partners LP           2,670,401
132,855   Sunoco LP           4,167,661
1,058,725   Tallgrass Energy LP           20,729,835
980,540   USD Partners LP           10,383,919
1,160,364   Western Midstream Partners LP           26,734,787
    Total Oil, Gas & Consumable Fuels           450,537,875
    Total Master Limited Partnerships & MLP Affiliates (cost $427,564,601)           450,537,875
    
Shares   Description (1)           Value
    COMMON STOCKS – 19.1% (13.2% of Total Investments)            
    Oil, Gas & Consumable Fuels – 19.1% (13.2% of Total Investments)            
699,900   Altus Midstream Company, (3)           $1,616,769
630,503   Enbridge Inc, (2)           21,096,630
2,280,655   EnLink Midstream LLC           18,108,401
235,548   ONEOK Inc           16,789,861
1
JMF Nuveen Energy MLP Total Return Fund (continued)
  Portfolio of Investments August 31, 2019
  (Unaudited)
Shares   Description (1)           Value
    Oil, Gas & Consumable Fuels (continued)            
299,640   Targa Resources Corp.           $10,822,997
    Total Oil, Gas & Consumable Fuels           68,434,658
    Total Common Stocks (cost $71,561,060)           68,434,658
    Total Long-Term Investments (cost $499,125,661)           518,972,533
    Borrowings – (41.3)% (4), (5)           (148,100,000)
    Deferred Tax Liability, net – (2.7)%           (9,571,024)
    Other Assets Less Liabilities – (0.8)% (6)           (2,777,914)
    Net Assets Applicable to Common Shares – 100%           $358,523,595
Investments in Derivatives
Interest Rate Swaps - OTC Uncleared            
Counterparty Notional
Amount 		Fund
Pay/Receive
Floating Rate 		Floating Rate Index Fixed Rate
(Annualized) 		Fixed Rate
Payment
Frequency 		Effective
Date (7) 		Optional
Termination
Date 		Maturity
Date 		Value Unrealized
Appreciation
(Depreciation)
JPMorgan Chase Bank, N.A. $94,500,000 Receive 1-Month LIBOR 1.969% Monthly 6/01/18 7/01/25 7/01/27 $(5,818,726) $(5,818,726)
Part F of Form N-PORT was prepared in accordance with U.S. generally accepted accounting principles ("U.S. GAAP") and in conformity with the applicable rules and regulations of the U.S. Securities and Exchange Commission ("SEC") related to interim filings. Part F of Form N-PORT does not include all information and footnotes required by U.S. GAAP for complete financial statements. Certain footnote disclosures normally included in financial statements prepared in accordance with U.S. GAAP have been condensed or omitted from this report pursuant to the rules of the SEC. For a full set of the Fund's notes to financial statements, please refer to the Fund's most recently filed annual or semi-annual report.
Fair Value Measurements
The Fund's investments in securities are recorded at their estimated fair value. Fair value is defined as the price that would be received upon selling an investment or transferring a liability in an orderly transaction to an independent buyer in the principal or most advantageous market for the investment. A three-tier hierarchy is used to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes. Observable inputs reflect the assumptions market participants would use in pricing the asset or liability. Observable inputs are based on market data obtained from sources independent of the reporting entity. Unobservable inputs reflect the reporting entity’s own assumptions about the assumptions market participants would use in pricing the asset or liability. Unobservable inputs are based on the best information available in the circumstances. The following is a summary of the three-tiered hierarchy of valuation input levels.
Level 1  –     Inputs are unadjusted and prices are determined using quoted prices in active markets for identical securities.
Level 2  –     Prices are determined using other significant observable inputs (including quoted prices for similar securities, interest rates, credit spreads, etc.).
Level 3  –     Prices are determined using significant unobservable inputs (including management’s assumptions in determining the fair value of investments).
2
The inputs or methodologies used for valuing securities are not an indication of the risks associated with investing in those securities. The following is a summary of the Fund’s fair value measurements as of the end of the reporting period:
  Level 1 Level 2 Level 3 Total
Long-Term Investments:        
Master Limited Partnerships & MLP Affiliates $450,537,875 $ — $ — $450,537,875
Common Stocks 68,434,658  —  — 68,434,658
Investments in Derivatives:        
Interest Rate Swaps*  — (5,818,726)  — (5,818,726)
Total $518,972,533 $(5,818,726) $ — $513,153,807
    
* Represents net unrealized appreciation (depreciation).
    
  For Fund portfolio compliance purposes, the Fund’s industry classifications refer to any one or more of the industry sub-classifications used by one or more widely recognized market indexes or ratings group indexes, and/or as defined by Fund management. This definition may not apply for purposes of this report, which may combine industry sub-classifications into sectors for reporting ease.  
(1) All percentages shown in the Portfolio of Investments are based on net assets applicable to common shares unless otherwise noted.  
(2) All, or a portion of, distributions designated as ordinary income which is recognized as "Dividends" on the Statement of Operations.  
(3) Non-income producing; issuer has not declared a dividend within the past twelve months.  
(4) Borrowings as a percentage of Total Investments is 28.5%.  
(5) The Fund segregates 100% of its eligible investments (excluding any investments separately pledged as collateral for specific investments in derivatives, when applicable) in the Portfolio of Investments as collateral for borrowings. As of the end of the reporting period, investments with a value of $468,215,161 have been pledged as collateral for borrowings.  
(6) Other assets less liabilities includes the unrealized appreciation (depreciation) of certain over-the-counter (“OTC”) derivatives as well as the OTC cleared and exchange-traded derivatives, when applicable.  
(7) Effective date represents the date on which both the Fund and counterparty commence interest payment accruals on each contract.  
LIBOR London Inter-Bank Offered Rate  
3