NPORT-EX 2 e8445nport.htm

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS
January 31, 2020
(Unaudited)

Shares Description  Value
     
 COMMON STOCKS & MLP INTERESTS--112.5%  
     
  ELECTRIC, GAS AND WATER--82.6%  
         1,922,640 Alliant Energy Corp.(a)           $   114,127,910
         1,338,300 Ameren Corp.(a)              109,807,515
         1,106,000 American Electric Power Co., Inc.(a)              115,267,320
            853,300 American Water Works Co.(a)              116,219,460
            842,110 Aqua America, Inc.               43,739,193
            732,000 Atmos Energy Corp.(a)(b)               85,665,960
            327,600 Black Hills Corp.               27,200,628
         3,071,300 CenterPoint Energy, Inc.(a)(b)               81,328,024
         1,668,800 CMS Energy Corp.(a)              114,329,488
         1,147,000 Dominion Energy, Inc.(a)(b)               98,355,250
            795,550 DTE Energy Co.(a)(b)              105,497,886
         1,000,000 Edison International(a)               76,550,000
         1,296,855 Emera Inc. (Canada)               57,814,503
         1,592,441 Evergy, Inc.(a)              114,910,543
         1,228,500 Eversource Energy(a)(b)              113,562,540
            904,000 FirstEnergy Corp.               45,914,160
         1,079,800 Fortis Inc. (Canada)               47,125,671
            715,700 New Jersey Resources Corp.               29,572,724
            441,400 NextEra Energy, Inc.(a)              118,383,480
         1,010,250 Nextera Energy Partners, LP               57,351,893
         2,655,000 NiSource Inc.(a)(b)               77,818,050
            800,000 Northwest Natural Holding Co.               58,704,000
         2,300,000 OGE Energy Corp.(a)              105,455,000
            576,000 ONE Gas, Inc.               54,432,000
         1,000,000 Pinnacle West Capital Corp.(a)               97,690,000
         1,716,600 Public Service Enterprise Group Inc.(a)(b)              101,622,720
            702,400 Sempra Energy(a)(b)              112,833,536
         1,500,000 South Jersey Industries, Inc.               46,200,000
         1,668,800 Southern Co.(a)              117,483,520
            903,000 Spire Inc.               76,140,960
         1,163,700 WEC Energy Group, Inc.(a)              116,241,993
         1,631,800 Xcel Energy Inc.(a)              112,904,242
              2,750,250,169

 

The accompanying note is an integral part of this financial statement.

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
January 31, 2020
(Unaudited)

Shares Description  Value
   
  OIL & GAS STORAGE, TRANSPORTATION AND PRODUCTION--16.1%
         1,161,419 Antero Midstream Corp.          $       5,853,552
            214,000 Cheniere Energy, Inc.*               12,677,360
            170,941 Cheniere Energy Partners, LP                 6,610,288
            421,000 DCP Midstream LP                 8,853,630
         1,286,845 Enbridge Inc. (Canada)               52,335,986
         2,954,062 Energy Transfer Equity LP               37,191,641
         1,516,000 Enterprise Products Partners LP               39,067,320
            405,000 GasLog Partners LP (Marshall Islands)                 4,147,200
            400,000 Genesis Energy LP                 7,148,000
            380,000 Golar LNG Limited* (Bermuda)                 3,655,600
            325,000 Keyera Corp. (Canada)                 8,485,312
         1,660,026 Kinder Morgan, Inc.(a)               34,644,743
            427,090 Magellan Midstream Partners LP               26,214,784
            145,000 Marathon Petroleum Corp.                 7,902,500
         1,001,852 MPLX LP               24,094,541
            158,403 Noble Midstream Partners LP                 3,548,227
            312,150 ONEOK, Inc.               23,370,671
            986,600 Pembina Pipeline Corp. (Canada)               37,806,425
            208,419 Phillips 66 Partners LP               12,177,922
         1,543,900 Plains All American Pipeline, LP               25,705,935
            310,000 Rattler Midstream LP                 4,677,900
            200,000 Shell Midstream Partners, LP                 3,930,000
            665,120 Targa Resources Corp.               24,276,880
         1,375,500 TC Energy Corp. (Canada)(a)               75,404,910
            452,020 Westlake Chemical Partners LP               10,224,692
            421,300 Western Midstream Partners, LP                 6,976,728
         1,303,500 The Williams Companies, Inc.               26,969,415
                 533,952,162

 

The accompanying note is an integral part of this financial statement.

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
January 31, 2020
(Unaudited)

 

 

Shares Description  Value
     
  TELECOMMUNICATIONS--13.8%  
            289,000 American Tower Corp.         $     66,972,860
         2,127,000 AT&T Inc.(a)(b)               80,017,740
            951,515 BCE Inc. (Canada)(a)               44,835,387
            690,400 Crown Castle International Corp.(a)(b)              103,449,536
         1,000,000 Orange SA (France)               14,190,504
         1,280,300 Telus Corp. (Canada)               51,355,272
         1,416,389 Verizon Communications Inc.(a)               84,190,162
            782,200 Vodafone Group Plc ADR (United Kingdom)               15,338,942
                 460,350,403
  Total Common Stocks & MLP Interests (Cost $2,468,021,912)           3,744,552,734
     
     
     
     
Par Value    
     
BONDS--15.3%    
     
  ELECTRIC, GAS AND WATER--7.9%  
$       11,000,000 American Water Capital Corp.  
  3.40%, 3/01/25(a)          $     11,758,714
       22,000,000 Arizona Public Service Co.  
  6 7/8%, 8/01/36(a)(b)               31,811,397
         9,000,000 CMS Energy Corp.  
  5.05%, 3/15/22(a)(b)                 9,514,013
         6,000,000 CMS Energy Corp.  
  3.45%, 8/15/27                 6,453,169
         5,000,000 Connecticut Light & Power Co.  
  3.20%, 3/15/27                 5,371,172
       10,000,000 DPL Capital Trust II  
  8 1/8%, 9/01/31               10,468,150
         6,400,000 DTE Electric Co.  
  3.65%, 3/15/24                 6,833,524
         4,875,000 DTE Electric Co.  
  3.45%, 10/01/20                 4,906,451
       10,000,000 Duke Energy Corp.  
  3.15%, 8/15/2027               10,566,203
         5,600,000 Edison International  
  4 1/8%, 3/15/28                 5,961,238
         9,500,000 Entergy Louisiana, LLC  
  5.40%, 11/01/24               11,042,989
         5,000,000 Entergy Louisiana, LLC  
  4.44%, 1/15/26                 5,572,420
         4,000,000 Entergy Texas, Inc.  
  4.00%, 3/30/29                 4,541,910
         7,000,000 Eversource Energy  
  4 1/4%, 4/01/29                 8,009,242
       10,000,000 Florida Power & Light Co.  
  3 1/4%, 6/01/24(a)(b)               10,591,062

 

The accompanying note is an integral part of this financial statement.

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
January 31, 2020
(Unaudited)

Par Value Description  Value
     
$        7,000,000 Indiana Michigan Power Co.  
  3.20%, 3/15/23         $       7,291,230
       11,000,000 Interstate Power & Light  
  3 1/4%, 12/01/24               11,636,880
       14,000,000 NiSource Finance Corp.  
  3.49%, 5/15/27               15,078,980
         5,000,000 Ohio Power Co.  
  6.60%, 2/15/33                 7,062,847
       10,345,000 Oncor Electric Delivery Co. LLC  
  7.00%, 9/01/22(a)(b)               11,695,914
         5,000,000 Public Service Electric  
  3.00%, 5/15/25                 5,279,013
       10,000,000 Public Service Electric  
  3.00%, 5/15/27               10,651,339
         5,000,000 Public Service New Mexico  
  3.85%, 8/01/25                 5,339,839
         9,000,000 Sempra Energy  
  3.55%, 6/15/24                 9,552,986
       11,300,000 Southern Power Co.  
  4.15%, 12/01/25               12,509,769
       13,000,000 Virginia Electric & Power Co.  
  3.15%, 1/15/26               13,814,921
         8,000,000 Wisconsin Energy Corp.  
  3.55%, 6/15/25                 8,605,739
                 261,921,111
     
  OIL & GAS STORAGE, TRANSPORTATION AND PRODUCTION--3.7%
       11,000,000 Enbridge Inc. (Canada)  
  4 1/4%, 12/01/26               12,344,355
         6,488,000 Energy Transfer Partners  
  7.60%, 2/01/24                 7,597,795
         8,850,000 Energy Transfer Partners  
  8 1/4%, 11/15/29               11,924,783
         6,000,000 Enterprise Products Operating LP  
  5.20%, 9/01/20                 6,114,947
         6,000,000 Enterprise Products Operating LP  
  3.35%, 3/15/23                 6,255,581
         8,030,000 Kinder Morgan, Inc.  
  6.85%, 2/15/20                 8,040,619
         9,000,000 Magellan Midstream Partners, LP  
  5.00%, 3/1/26               10,344,925
       11,000,000 ONEOK, Inc.  
  6.00%, 6/15/35               13,747,328
       10,000,000 Phillips 66  
  3.90%, 3/15/28               11,056,108
         5,000,000 Plains All American Pipeline, LP  
  4.65%, 10/15/25                 5,461,219
       12,210,000 TransCanada PipeLines Ltd. (Canada)  
  3 3/4%, 10/16/23               12,975,125
       10,000,000 Williams Partners LP  
  3.60%, 3/15/22               10,301,711
         5,000,000 Williams Partners LP  
  4.55%, 6/24/24                 5,465,048
                 121,629,544

 

The accompanying note is an integral part of this financial statement.

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
January 31, 2020
(Unaudited)

 

Par Value Description  Value
     
  TELECOMMUNICATIONS--3.5%  
$       4,500,000 American Tower Corp.  
  5.00%, 2/15/24        $       5,013,969
         5,500,000 American Tower Corp.  
  3.00%, 6/15/23                 5,693,528
         5,000,000 AT&T Inc.  
  4.45%, 4/01/24                 5,470,941
         7,000,000 AT&T Inc.  
  3.55%, 6/01/24                 7,438,279
       15,000,000 CenturyLink Inc.  
  6 7/8%, 1/15/28               16,805,213
         5,900,000 Comcast Corp.  
  7.05%, 3/15/33                 8,780,969
         9,385,000 Crown Castle International Corp.  
  4.45%, 2/15/26               10,459,996
       15,000,000 Koninklijke KPN NV (Netherlands)  
  8 3/8%, 10/01/30(a)(b)               21,436,856
         5,000,000 TCI Communications Inc.  
  7 1/8%, 2/15/28                 6,692,460
       15,500,000 Verizon Global Funding Corp.  
  7 3/4%, 12/01/30               22,796,320
         5,000,000 Vodafone Group Plc (United Kingdom)  
  7 7/8%, 2/15/30                 7,130,402
                 117,718,933
   NON-UTILITY--0.2%  
         8,000,000 Dayton Hudson Corp.  
  9 7/8%, 7/01/20                 8,239,699
                    8,239,699
  Total Bonds (Cost $461,782,890)              509,509,287
     
     
SHORT-TERM INVESTMENTS--1.1%  
     
  U.S. TREASURY BILLS--1.1%  
       19,000,000 1.51%, 2/06/20(c)               18,997,692
       19,000,000 1.52%, 3/05/20(c)               18,975,055
     
  Total Short-Term Investments (Cost $37,970,057)               37,972,747

 

TOTAL INVESTMENTS--128.9% (Cost $2,967,774,859)           4,292,034,768
Secured borrowings--(12.0)%             (400,000,000)
Secured notes--(9.0)%             (300,000,000)
Mandatory Redeemable Preferred Shares at liquidation value--(9.0)%             (300,000,000)
Other assets less other liabilities--1.1%               37,315,752
NET ASSETS APPLICABLE TO COMMON STOCK--100.0%          $ 3,329,350,520

 

 

The accompanying note is an integral part of this financial statement.

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
January 31, 2020
(Unaudited)

 

(a) All or a portion of this security has been pledged as collateral for borrowings and made available for loan.

 

(b) All or a portion of this security has been loaned.

 

(c) Rate shown represents yield-to-maturity.

 

* Non-income producing.

 

The percentage shown for each investment category is the total value of that category as a percentage of the net assets applicable to common stock of the Fund.

 

Note 1. Investment Valuation

 

The Fund's investments are carried at fair value which is defined as the price that the Fund would receive upon selling an investment in a timely transaction to an independent buyer in the principal or most advantageous market of the investment. The three-tier hierarchy of inputs established to classify fair value measurements for disclosure purposes is summarized in the three broad levels listed below.

Level 1 - quoted prices in active markets for identical securities

Level 2 - other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risks, etc.)

Level 3 - significant unobservable inputs (including the Fund's own assumptions in determining fair value of

investments)

 

The inputs or methodology used for valuing securities are not necessarily an indication of the risk associated with investing in these securities. For more information about the Fund's policy regarding valuation of investments and other significant accounting policies, please refer to the Fund's most recent financial statements contained in its annual report. The following is a summary of the inputs used to value each of the Fund's investments at October 31, 2019:

     Level 1  Level 2
Common stocks & MLP interests $3,744,552,734                          -
Bonds                                - $509,509,287
Short-Term Investments                              - 37,972,747
     Total   $3,744,552,734 $547,482,034

 

 

There were no Level 3 priced securities held and there were no transfers into or out of Level 3.

 

 

Other information regarding the Fund is available on the Fund's website at www.dpimc.com/dnp or the Securities and Exchange Commission's website at www.sec.gov.