NPORT-EX 2 ndpsoi.htm NDP SCHEDULE OF INVESTMENTS AND NOTES

Tortoise Energy Independence Fund, Inc.
           
SCHEDULE OF INVESTMENTS (Unaudited)
           
             
   
February 28, 2021
 
Common Stock - 92.2%(1)
 
Shares
   
Fair Value
 
             
Crude Oil Pipelines - 4.2%(1)
           
Canada - 4.2%(1)
           
Enbridge Inc.
   
47,200
     
1,595,833
 
Renewable Infrastructure - 7.6%(1)
               
United States - 7.6%(1)
               
Clearway Energy Inc.
   
16,822
     
461,932
 
NextEra Energy, Inc.
   
21,112
     
1,551,310
 
Sempra Energy
   
7,500
     
869,850
 
             
2,883,092
 
                 
Natural Gas/Natural Gas Liquids Pipelines - 19.8%(1)
               
United States - 19.8%(1)
               
Cheniere Energy, Inc.(2)
   
38,900
     
2,621,471
 
Kinder Morgan Inc.
   
113,064
     
1,662,041
 
TC Energy Corporation
   
28,748
     
1,205,404
 
The Williams Companies, Inc.
   
91,098
     
2,080,678
 
             
7,569,594
 
Oil and Gas Production - 60.6%(1)
               
United States - 60.6%(1)
               
BP PLC
   
39,283
     
958,898
 
Cabot Oil & Gas Corporation
   
113,490
     
2,100,700
 
Chevron Corporation
   
27,300
     
2,730,000
 
ConocoPhillips
   
83,480
     
4,341,795
 
Diamondback Energy, Inc.
   
39,717
     
2,751,594
 
EOG Resources, Inc.
   
40,200
     
2,595,312
 
EQT Corporation(2)
   
118,237
     
2,103,436
 
Pioneer Natural Resources Company
   
27,164
     
4,035,756
 
Royal Dutch Shell PLC
   
36,800
     
1,509,904
 
             
23,127,395
 
                 
Total Common Stock (Cost $31,744,738)
           
35,175,914
 
                 
Master Limited Partnerships - 11.6%(1)
               
Crude Oil Pipelines - 0.9%(1)
               
United States - 0.9%(1)
               
Plains All American Pipeline, L.P.
   
39,700
     
335,068
 
                 
Natural Gas/Natural Gas Liquids Pipelines - 7.3%(1)
               
United States - 7.3%(1)
               
Energy Transfer LP
   
116,900
     
893,116
 
Enterprise Products Partners L.P.
   
88,300
     
1,882,556
 
             
2,775,672
 
Natural Gas Gathering/Processing - 1.3%(1)
               
United States - 1.3%(1)
               
Noble Midstream Partners LP
   
37,208
     
520,912
 
                 
Refined Product Pipelines - 2.1%(1)
               
United States - 2.1%(1)
               
Magellan Midstream Partners, L.P.
   
19,323
     
805,189
 
                 
Total Master Limited Partnerships (Cost $5,307,905)
           
4,436,841
 
                 
Special Purpose Acquisition Company - 6.4%(1)
               
Energy Technology - 6.4%(1)
               
United States - 6.4%(1)
               
Bluescape Opportunities Acquisition Corp.
   
15,155
     
162,462
 
Climate Change Crisis Real Impact Class A
   
10,704
     
165,698
 
Climate Real Impact Solutions II Acquisition Corp.
   
9,712
     
106,832
 
Decarbonization Plus Acquisition II
   
4,732
     
50,301
 
ECP Environmental Growth Opportunities Corp.
   
7,228
     
76,978
 
European Sustainable Growth Acquisition Corp.
   
10,424
     
110,390
 
Flame Acquisition Corp.
   
11,100
     
111,555
 
Hennessy Captial Investment Corp. V
   
20,648
     
224,237
 
Kensington Capital Acquisition Corp. II
   
2,514
     
27,528
 
Northern Genesis Acquisition Unit
   
6,815
     
74,488
 
Peridot Acquisition Corp.
   
1
     
1
 
Power & Digital Infrastructure Acquisition Corp.
   
8,432
     
91,487
 
Qell Acquisition Corp.
   
7,768
     
92,595
 
Queen's Gambit Growth Capital
   
9,611
     
101,396
 
Rice Acquisition Corp.
   
11,523
     
125,831
 
RMG Acquisition Corp III
   
5,914
     
62,097
 
Spartan Acquisition Corp III
   
7,228
     
75,749
 
Spring Valley Acquisition Equity
   
17,800
     
188,680
 
Star Peak Corp II
   
6,334
     
71,574
 
Star Peak Energy Transition
   
5,241
     
179,137
 
Sustainable Development Acquisition I Corp
   
11,830
     
124,215
 
Switchback II Corp
   
6,621
     
75,479
 
Warrior Technologies Acquisition Co.
   
14,974
     
149,890
 
                 
Total Special Purpose Acquisition Company (Cost $2,135,113)
           
2,448,600
 
                 
Warrants - 0.3%(1)
               
Energy Technology - 0.3%(1)
               
Arclight Clean Transition Corp. Warrant
   
1
     
3
 
Bluescape Opportunities Acquisition Corp. Warrant
   
7,578
     
16,292
 
Climate Change Crisis Real Impact Warrant
   
7,735
     
28,235
 
Qell Acquisition Corp. Warrant
   
3,452
     
10,357
 
Spring Valley Acquisition Equity Warrant
   
8,900
     
18,868
 
Rice Acquisition Corp. Warrant
   
7,682
     
17,438
 
                 
Total Warrants (Cost $62,705)
           
91,193
 
                 
Short-Term Investment - 0.7%(1)
               
United States Investment Company - 0.7%(1)
               
Invesco Government & Agency Portfolio - Institutional Class, 0.01%(3) (Cost $265,009)
   
265,009
     
265,009
 
                 
Total Investments - 111.2%(1) (Cost $39,515,470)
           
42,417,557
 
Other Assets and Liabilities - 0.3%(1)
           
142,394
 
Credit Facility Borrowings - (11.5)%(1)
           
(4,400,000
)
Total Net Assets Applicable to Common Stockholders - 100.0%(1)
           
38,159,951
 

 
(1)
Calculated as a percentage of net assets applicable to common stockholders.
   
 
(2)
Non-income producing security.
     
 
(3)
Rate indicated is the current yield as of February 28, 2021.
     


Various inputs are used in determining the fair value of the Funds’ investments and financial instruments.  These inputs are summarized in the three broad levels listed below:

Level 1 – quoted prices in active markets for identical investments
Level 2 – other significant observable inputs (including quoted prices for similar investments, market corroborated inputs, etc.)
Level 3 – significant unobservable inputs (including a Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used for valuing securities are not necessarily an indication of the risk associated with investing in those securities.

The following tables provide the fair value measurements of applicable assets and liabilities by level within the fair value hierarchy as of February 28, 2021.  These assets and liabilities are measured on a recurring basis.

NDP:
                       
Description
 
Level 1
   
Level 2
   
Level 3
   
Total
 
Assets
                       
Investments:
                       
Common Stock(a)
 
$
35,175,914
   
$
-
   
$
-
   
$
35,175,914
 
Master Limited Partnerships(a)
   
4,436,841
     
-
     
-
     
4,436,841
 
Warrants(a)
 
91,193
     
-
             
91,193
 
Special Purpose Acquisition Companies(a)
  2,448,600      
-
     
-
       2,448,600  
Short-Term Investment(b)
   
265,009
     
-
     
-
     
265,009
 
Total Assets
 
$
42,417,557
   
$
-
   
$
-
   
$
42,417,557
 

(a)
All other industry classifications are identified in the Schedule of Investments.
(b)
Short-term investment is a sweep investment for cash balances.

The following tables present each Fund’s assets measured at fair value on a recurring basis using significant unobservable inputs (Level 3) for the period ended February 28, 2021:

Preferred Stock
NDP
Balance – beginning of period
$2,008,943
Purchases
-
Return of capital
-
Sales
(1,997,000)
Total realized gain/loss
308,458
Change in unrealized gain/loss
(320,401)
Balance – end of period
$-