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MLPGX Oppenheimer SteelPath MLP Alpha C

  • Fund
  • MLPGX
  • Price as of: Mar 22, 2019
  • $6.61
  • - $0.09
  • - 1.34%
  • Category
  • MLPs

MLPGX - Profile

Vitals

  • YTD Return 12.2%
  • 3 Yr Annualized Return -4.8%
  • 5 Yr Annualized Return -11.6%
  • Net Assets $1.86 B
  • Holdings in Top 10 82.4%

52 WEEK LOW AND HIGH

$6.61
$5.44
$7.75

Expenses

OPERATING RELATED FEES

  • Expense Ratio 2.38%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 36.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

STANDARD (TAXABLE)

$1,000

IRA

$500

Investment Themes

CATEGORY

MLPs
  • Fund Type Open End Mutual Fund
  • Investment Style Energy Limited Partnership

Distributions

  • YTD Total Return 12.2%
  • 3 Yr Annualized Total Return -2.9%
  • 5 Yr Annualized Total Return -8.7%
  • Capital Gain Distribution Frequency N/A
  • Net Income Ratio -3.10%
DIVIDENDS
  • Dividend Yield 0.7%
  • Dividend Distribution Frequency Monthly

Fund Details

  • Legal Name Oppenheimer SteelPath MLP Alpha Fund
  • Fund Family Name OppenheimerFunds
  • Inception Date Aug 25, 2011
  • Shares Outstanding N/A
  • Share Class C
  • Currency USD
  • Domiciled Country United States
  • Manager Brian D. Watson

Fund Description

The fund invests at least 80% of its net assets (plus the amount of any borrowings for investment purposes) in MLP investments of issuers that are engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals and natural resources. It invests in MLP investments that primarily derive their revenue from businesses engaged in the gathering, processing, transporting, terminalling, storing, distributing, or marketing of natural gas, natural gas liquids, crude oil, refined products or other hydrocarbons. The fund is non-diversified.

MLPGX - Performance

Return Ranking - Trailing

Period MLPGX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 12.2% -32.1% 27.1% 75.00% 4
1 Yr 1.1% -69.5% 10.2% 62.50% 4
3 Yr -4.8% * -28.3% 14.1% 85.71% 5
5 Yr -11.6% * -22.1% -1.1% 73.44% 4
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Return Ranking - Calendar

Period MLPGX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -23.1% -57.5% 110.3% 72.86% 4
2017 -14.9% -25.3% 54.6% 69.57% 4
2016 7.7% -36.6% 39.2% 75.36% 4
2015 -30.8% -57.7% 8.5% 23.19% 2
2014 0.3% -4.8% 10.5% 77.78% 5

Total Return Ranking - Trailing

Period MLPGX Return Category Return Low Category Return High Rank in Category (%) Quintile
YTD 12.2% -32.1% 27.1% 75.00% 4
1 Yr 1.1% -69.5% 10.2% 61.11% 4
3 Yr -2.9% * -28.3% 14.1% 85.71% 5
5 Yr -8.7% * -20.2% -1.1% 73.44% 4
10 Yr N/A * N/A N/A N/A N/A

* Annualized


Total Return Ranking - Calendar

Period MLPGX Return Category Return Low Category Return High Rank in Category (%) Quintile
2018 -23.1% -57.5% 110.3% 72.86% 4
2017 -14.9% -25.3% 54.6% 69.57% 4
2016 16.5% -33.5% 43.1% 73.91% 4
2015 -28.2% -57.2% 13.5% 23.19% 2
2014 7.3% 2.9% 23.1% 76.19% 4

NAV & Total Return History

MLPGX - Holdings

Filings data as of: Dec 31, 2018

Concentration Analysis

MLPGX Category Low Category High MLPGX % Rank Quintile
Net Assets 1.86 B 329 K 4.19 B 8.33% 2
Number of Holdings 20 16 58 23.61% 5
Net Assets in Top 10 1.48 B 240 K 2.61 B 5.56% 1
Weighting of Top 10 82.4% 37.5% 112.2% 4.17% 1

Top 10 Holdings

  1. Enterprise Products Partners LP 10.14%
  2. Magellan Midstream Partners LP 6.27%
  3. Energy Transfer LP 18.55%
  4. MPLX LP Partnership Units 7.52%
  5. Tallgrass Energy LP A 9.21%
  6. Targa Resources Corp 4.58%
  7. Buckeye Partners LP 5.57%
  8. Williams Companies Inc 9.28%
  9. EQM Midstream Partners LP 4.93%
  10. TC Pipelines LP 6.29%

Asset Allocation

Weighting Category Low Category High MLPGX % Rank Quintile
Stocks
97.26% 62.61% 132.36% 19.44% 4
Other
2.74% -35.31% 4.40% 4.17% 1
Preferred Stocks
0.00% 0.00% 2.78% 5.56% 3
Convertible Bonds
0.00% 0.00% 0.05% 2.78% 3
Cash
0.00% -24.95% 27.88% 23.61% 4
Bonds
0.00% 0.00% 21.36% 6.94% 3

Stock Sector Breakdown

Weighting Category Low Category High MLPGX % Rank Quintile
Energy
94.20% 3.33% 128.15% 16.67% 3
Basic Materials
3.06% 0.00% 4.22% 2.78% 1
Utilities
0.00% 0.00% 4.10% 20.83% 4
Technology
0.00% 0.00% 11.74% 2.78% 3
Real Estate
0.00% 0.00% 3.41% 2.78% 3
Industrials
0.00% 0.00% 7.58% 16.67% 4
Healthcare
0.00% 0.00% 8.87% 2.78% 3
Financial Services
0.00% 0.00% 11.25% 2.78% 3
Communication Services
0.00% 0.00% 0.98% 2.78% 3
Consumer Defense
0.00% 0.00% 3.59% 2.78% 3
Consumer Cyclical
0.00% 0.00% 7.11% 2.78% 3

Stock Geographic Breakdown

Weighting Category Low Category High MLPGX % Rank Quintile
US
97.26% 55.02% 132.36% 11.11% 2
Non US
0.00% 0.00% 24.03% 23.61% 5

MLPGX - Expenses

Operational Fees

MLPGX Fees (% of AUM) Category Low Category High Rank in Category (%) Quintile
Expense Ratio 2.38% 0.81% 7.62% 25.00% 4
Management Fee 1.10% 0.70% 1.25% 4.17% 4
12b-1 Fee 1.00% 0.00% 1.00% 2.08% 4
Administrative Fee N/A 0.03% 0.20% N/A N/A

Sales Fees

MLPGX Fees (% of AUM) Category Low Category High MLPGX Rank Quintile
Front Load N/A 4.50% 5.75% N/A N/A
Deferred Load 1.00% 1.00% 1.00% 5.00% 3

Trading Fees

MLPGX Fees (% of AUM) Category Low Category High MLPGX Rank Quintile
Max Redemption Fee N/A 2.00% 2.00% N/A N/A

Turnover Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

MLPGX Fees (% of AUM) Category Low Category High MLPGX Rank Quintile
Turnover 36.00% 0.00% 75.00% 18.06% 3

MLPGX - Distributions

Dividend Yield Analysis

MLPGX Category Low Category High MLPGX % Rank Quintile
Dividend Yield 0.7% 0.04% 1.69% 12.50% 2

Dividend Distribution Analysis

MLPGX Category Low Category High Category Mode
Dividend Distribution Frequency Monthly Annually Monthly Annually

Dividend Payout History


Net Income Ratio Analysis

MLPGX Category Low Category High MLPGX % Rank Quintile
Net Income Ratio -3.10% -7.28% 8.30% 87.50% 5

Capital Gain Distribution Analysis

MLPGX Category Low Category High Capital Mode
Capital Gain Distribution Frequency N/A Annually Annually Annually

MLPGX - Managers

Brian D. Watson

Manager

Start Date

Mar 31, 2010

Tenure

8.92

Tenure Rank

0.5%

Brian Watson serves as portfolio manager for SteelPath Alpha, Income, Select 40, Alpha Plus, Panoramic and Focused MLP strategies. Prior to joining SteelPath in 2009, Brian was a portfolio manager and led the MLP research effort at Swank Capital LLC, in Dallas, Texas. He also covered the MLP and Diversified Energy sectors for RBC Capital Markets in the firm’s Equity Research Division from 2002 to 2005. Prior to this, Brian worked for Prudential Capital Group, helping to analyze, structure, and invest in debt private placements issued primarily by companies involved in the energy industry including those involved in oil field services, midstream services, and oil and gas exploration and production. Brian holds a BBA from the University of Texas at Austin and an MBA from the McCombs School of Business at the University of Texas at Austin. He is also a CFA charter holder.


Stuart Cartner

Manager

Start Date

Mar 31, 2010

Tenure

8.92

Tenure Rank

0.5%

Stuart Cartner serves as portfolio manager for SteelPath Alpha, Income, Select 40, Alpha Plus, Focused MLP, and MLP & Energy Infrastructure strategies. Prior to joining SteelPath, Stuart was Vice President in the Private Wealth Management Division of Goldman, Sachs & Co. As a Private Wealth Advisor for nineteen years at Goldman, he was responsible for managing a $200 million portfolio of midstream Master Limited Partnerships for over a decade. Prior to his time at Goldman, Stuart worked at Trammell Crow Company and General Electric. Stuart holds a B.S. in Finance and Management from Indiana University and an MBA in Finance and Marketing with Distinction from the Kellogg Graduate School of Management, Northwestern University.


Tenure Analysis

Category Low

1.1

Category High

8.9

Category Average

5.96

Category Mode

4.2