0001752724-19-130980.txt : 20190925 0001752724-19-130980.hdr.sgml : 20190925 20190925124445 ACCESSION NUMBER: 0001752724-19-130980 CONFORMED SUBMISSION TYPE: NPORT-EX PUBLIC DOCUMENT COUNT: 1 CONFORMED PERIOD OF REPORT: 20190731 FILED AS OF DATE: 20190925 FILER: COMPANY DATA: COMPANY CONFORMED NAME: DNP SELECT INCOME FUND INC CENTRAL INDEX KEY: 0000806628 IRS NUMBER: 363480989 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: NPORT-EX SEC ACT: 1940 Act SEC FILE NUMBER: 811-04915 FILM NUMBER: 191113332 BUSINESS ADDRESS: STREET 1: PO BOX 32760 CITY: LOUISVILLE STATE: KY ZIP: 40232 BUSINESS PHONE: 3123685510 MAIL ADDRESS: STREET 1: PO BOX 32760 CITY: LOUISVILLE STATE: KY ZIP: 40232 FORMER COMPANY: FORMER CONFORMED NAME: DUFF & PHELPS SELECTED UTILITIES INC DATE OF NAME CHANGE: 19910429 ACCESSION NUMBER: 0001752724-19-128515 NPORT-EX 1 DNP_NPORT-EX_7-31-19.htm

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS
July 31, 2019
(Unaudited)

Shares Description  Value
     
 COMMON STOCKS & MLP INTERESTS--114.7%  
     
  ELECTRIC, GAS AND WATER--82.1%  
 2,131,240 Alliant Energy Corp.(a)    $  105,581,630
 1,338,300 Ameren Corp.(a)  101,295,927
 1,106,000 American Electric Power Co., Inc.(a)  97,117,860
 878,900 American Water Works Co.(a)  100,880,142
 842,110 Aqua America, Inc.  35,326,514
 732,000 Atmos Energy Corp.(a)  79,817,280
 327,600 Black Hills Corp.  25,929,540
 3,071,300 CenterPoint Energy, Inc.(a)(b)  89,098,413
 1,783,000 CMS Energy Corp.(a)  103,806,260
 1,147,000 Dominion Energy, Inc.(a)(b)  85,210,630
 795,550 DTE Energy Co.(a)  101,122,360
 1,000,000 Edison International(a)  74,540,000
 1,296,855 Emera Inc. (Canada)  54,119,982
 1,592,441 Evergy, Inc.(a)  96,326,756
 1,346,700 Eversource Energy(a)(b)  102,160,662
 690,000 FirstEnergy Corp.  30,339,300
 1,079,800 Fortis Inc. (Canada)  42,775,917
 502,100 NextEra Energy, Inc.(a)  104,020,057
 1,010,250 Nextera Energy Partners, LP  49,138,560
 2,655,000 NiSource Inc.(a)  78,826,950
 800,000 Northwest Natural Holding Co.  57,136,000
 2,300,000 OGE Energy Corp.(a)(b)  98,785,000
 576,000 ONE Gas, Inc.  52,519,680
 1,000,000 Pinnacle West Capital Corp.(a)  91,220,000
 1,716,600 Public Service Enterprise Group Inc.(a)(b)  98,103,690
 798,400 Sempra Energy(a)  108,127,312
 1,500,000 South Jersey Industries, Inc.  51,075,000
 1,906,150 Southern Co.(a)  107,125,630
 903,000 Spire Inc.  74,416,230
 1,205,400 WEC Energy Group, Inc.(a)  103,013,484
 1,710,800 Xcel Energy Inc.(a)(b)  101,980,788
     2,500,937,554
     
  OIL & GAS STORAGE, TRANSPORTATION AND PRODUCTION--18.6%
 1,311,419 Antero Midstream Corp.  11,960,141
 55,000 Cheniere Energy, Inc.*  3,583,250
 230,941 Cheniere Energy Partners, LP  10,417,748
 431,000 DCP Midstream LP  12,731,740
 1,286,845 Enbridge Inc. (Canada)  42,967,755
 2,904,062 Energy Transfer Equity LP  41,760,412

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

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
July 31, 2019
(Unaudited)

 

Shares Description  Value
 1,516,000 Enterprise Products Partners LP  $    45,646,760
 505,000 GasLog Partners LP (Marshall Islands)  10,882,750
 350,000 Genesis Energy LP  7,997,500
 310,000 Golar LNG Limited (Bermuda)  5,251,400
 1,835,026 Kinder Morgan, Inc.(a)  37,838,236
 427,090 Magellan Midstream Partners LP  28,247,733
 145,000 Marathon Petroleum Corp.  8,176,550
 1,061,852 MPLX LP  31,165,356
 70,444 Noble Midstream Partners LP  2,183,060
 312,150 ONEOK, Inc.  21,875,472
 986,600 Pembina Pipeline Corp. (Canada)  35,980,866
 178,419 Phillips 66 Partners LP  9,324,177
 1,248,900 Plains All American Pipeline, LP  29,698,842
 603,305 Tallgrass Energy, LP  11,565,357
 615,120 Targa Resources Corp.  23,934,319
 1,375,500 TC Energy Corp. (Canada)(a)  67,344,480
 502,020 Westlake Chemical Partners LP  11,797,470
 446,300 Western Midstream Partners, LP  12,050,100
 1,663,500 The Williams Companies, Inc.  40,988,640
     565,370,114
     
  TELECOMMUNICATIONS--14.0%  
 289,000 American Tower Corp.  61,158,180
 2,129,000 AT&T Inc.(a)(b)  72,492,450
 951,515 BCE Inc. (Canada)(a)(b)  42,922,842
 690,400 Crown Castle International Corp.(a)(b)  92,002,704
 1,000,000 Orange SA (France)  14,947,392
 1,280,300 Telus Corp. (Canada)  46,253,232
 1,502,089 Verizon Communications Inc.(a)(b)  83,020,459
 782,200 Vodafone Group Plc ADR (United Kingdom)  14,173,464
     426,970,723
  Total Common Stocks & MLP Interests (Cost $2,467,009,107)  3,493,278,391
     
     
     
     
Par Value    
     
BONDS--16.1%  
     
  ELECTRIC, GAS AND WATER--8.1%  
 $11,000,000 American Water Capital Corp.  
  3.40%, 3/01/25(a)  $    11,436,600
 22,000,000 Arizona Public Service Co.  
  6 7/8%, 8/01/36(a)(b)  29,525,311
 9,000,000 CMS Energy Corp.  
  5.05%, 3/15/22(a)  9,553,688
 6,000,000 CMS Energy Corp.  
  3.45%, 8/15/27  6,246,908
 5,000,000 Connecticut Light & Power Co.  
  3.20%, 3/15/27  5,157,807

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

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
July 31, 2019
(Unaudited)

 

Par Value Description  Value
 $10,000,000 DPL Capital Trust II  
  8 1/8%, 9/01/31  $    10,059,000
 6,400,000 DTE Electric Co.  
  3.65%, 3/15/24  6,732,514
 4,875,000 DTE Electric Co.  
  3.45%, 10/01/20  4,926,171
 10,000,000 Duke Energy Corp.  
  3.15%, 8/15/2027  10,232,782
 5,600,000 Edison International  
  4 1/8%, 3/15/28  5,757,070
 9,500,000 Entergy Louisiana, LLC  
  5.40%, 11/01/24  10,898,634
 5,000,000 Entergy Louisiana, LLC  
  4.44%, 1/15/26  5,418,569
 4,000,000 Entergy Texas, Inc.  
  4.00%, 3/30/29  4,351,661
 7,000,000 Eversource Energy  
  4 1/4%, 4/01/29  7,708,936
 10,000,000 Florida Power & Light Co.  
  3 1/4%, 6/01/24  10,416,764
 7,000,000 Indiana Michigan Power Co.  
  3.20%, 3/15/23  7,181,051
 11,000,000 Interstate Power & Light  
  3 1/4%, 12/01/24  11,380,689
 14,000,000 NiSource Finance Corp.  
  3.49%, 5/15/27  14,531,041
 5,000,000 Ohio Power Co.  
  6.60%, 2/15/33  6,772,647
 10,345,000 Oncor Electric Delivery Co. LLC  
  7.00%, 9/01/22(a)(b)  11,764,156
 5,000,000 Public Service Electric  
  3.00%, 5/15/25  5,119,156
 10,000,000 Public Service Electric  
  3.00%, 5/15/27  10,252,201
 5,000,000 Public Service New Mexico  
  3.85%, 8/01/25  5,168,248
 9,000,000 Sempra Energy  
  3.55%, 6/15/24  9,305,801
 11,300,000 Southern Power Co.  
  4.15%, 12/01/25  12,054,001
 10,000,000 Virginia Electric & Power Co.  
  3.15%, 1/15/26  10,373,158
 4,000,000 Wisconsin Energy Corp.  
  3.55%, 6/15/25  4,206,219
     246,530,783
     
  OIL & GAS STORAGE, TRANSPORTATION AND PRODUCTION--3.9%
 11,000,000 Enbridge Inc. (Canada)  
  4 1/4%, 12/01/26  11,984,539
 6,488,000 Energy Transfer Partners  
  7.60%, 2/01/24  7,521,668
 8,850,000 Energy Transfer Partners  
  8 1/4%, 11/15/29  11,565,412

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

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
July 31, 2019
(Unaudited)

 

Par Value Description  Value
 $  6,000,000 Enterprise Products Operating LP  
  5.20%, 9/01/20  $      6,175,152
 6,000,000 Enterprise Products Operating LP  
  3.35%, 3/15/23  6,179,500
 8,030,000 Kinder Morgan, Inc.  
  6.85%, 2/15/20  8,206,566
 9,000,000 Magellan Midstream Partners, LP  
  5.00%, 3/1/26  10,017,819
 11,000,000 ONEOK, Inc.  
  6.00%, 6/15/35  12,572,874
 10,000,000 Phillips 66  
  3.90%, 3/15/28  10,615,748
 5,000,000 Plains All American Pipeline, LP  
  4.65%, 10/15/25  5,337,463
 12,210,000 TransCanada PipeLines Ltd. (Canada)  
  3 3/4%, 10/16/23  12,757,017
 10,000,000 Williams Partners LP  
  3.60%, 3/15/22  10,250,568
 5,000,000 Williams Partners LP  
  4.55%, 6/24/24  5,366,502
     118,550,828
     
  TELECOMMUNICATIONS--3.8%  
 4,500,000 American Tower Corp.  
  5.00%, 2/15/24  4,946,603
 5,500,000 American Tower Corp.  
  3.00%, 6/15/23  5,592,007
 5,000,000 AT&T Inc.  
  4.45%, 4/01/24  5,381,545
 10,000,000 BellSouth Capital Funding Corp.  
  7 7/8%, 2/15/30(a)  12,659,552
 15,000,000 CenturyLink Inc.  
  6 7/8%, 1/15/28  15,187,500
 5,900,000 Comcast Corp.  
  7.05%, 3/15/33  8,318,772
 9,385,000 Crown Castle International Corp.  
  4.45%, 2/15/26  10,225,703
 15,000,000 Koninklijke KPN NV (Netherlands)  
  8 3/8%, 10/01/30(a)(b)  20,088,312
 5,000,000 TCI Communications Inc.  
  7 1/8%, 2/15/28  6,491,986
 15,500,000 Verizon Global Funding Corp.  
  7 3/4%, 12/01/30  21,531,427
 5,000,000 Vodafone Group Plc (United Kingdom)  
  7 7/8%, 2/15/30  6,791,798
     117,215,205
   NON-UTILITY--0.3%  
 8,000,000 Dayton Hudson Corp.  
  9 7/8%, 7/01/20(a)  8,494,911
     8,494,911
  Total Bonds (Cost $457,936,820)  490,791,727
     
     

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

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
July 31, 2019
(Unaudited)

 

Par Value Description  Value
 SHORT-TERM INVESTMENTS--1.3%  
     
  U.S. TREASURY BILLS--1.3%  
 $19,000,000 2.30%, 8/08/19(c)  $    18,992,870
 19,000,000 2.18%, 9/05/19(c)  18,963,302
     
  Total Short-Term Investments (Cost $37,952,185)  37,956,172
     
TOTAL INVESTMENTS--132.1% (Cost $2,962,898,112)  4,022,026,290
Secured borrowings--(13.1)%  (400,000,000)
Secured notes--(9.9)%  (300,000,000)
Mandatory Redeemable Preferred Shares at liquidation value--(9.9)%  (300,000,000)
Other assets less other liabilities--0.8%  23,494,196
NET ASSETS APPLICABLE TO COMMON STOCK--100.0%  $3,045,520,486
     
     

 

 

(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.

 

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

DNP SELECT INCOME FUND INC.
SCHEDULE OF INVESTMENTS - (Continued)
July 31, 2019
(Unaudited)

 

 

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 July 31, 2019:

 

 

     Level 1  Level 2
Common stocks & MLP interests $3,493,278,391  -
Bonds    - $490,791,727
Short-Term Investments  - 37,956,172
 Total   $3,493,278,391 $528,747,899

 

 

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.