MLP

Puzzleheaded-Net-273

That is the aggressive portion of my portfolio. I also own dividend ETF's, Covered Call tax efficient ETF's, MLP's in oil/gas, SGOV, Schwab MMF, and muni bond ETF (VTEB).

Various_Couple_764

IF your growth investor Using growth index funds there is one group of energy companes that are not included in your growth index funds. Master Limited Partnershps (MLPs) VTI should have hen but doesn't. Some may be big enough fro S& P500 but still they are not there. Why MLPs generate K1 tax forms which means this complicates the funds taxes and thus increases expenses. But that said MLP also pay a higher dividend than most companes and and some have growth. Soif you OWN VTI or other growth index you might consider adding theseA ETF or CEF that holds these companes. I hav EMO 9% yeild. Note since the fund has to handle and pay any tax related to the K1 tax forms. So you don't have to. There are many funds that invest in MLP. MPLs gernallly own oil and gas pipelines and some oil and gas refinereses.

Former_Island_4730

Free Tax USA can’t handle publicly traded MLP’s yet either.

OverallObligation271

MLP is crazy

Former_Island_4730

Yeah…that’s mostly right. With the huge nat gas buildout in the US, they’re also a growth play too though. They’ve committed to grow their distribution by 12.5% per year for the next two years because of the growth. Mr Market is really discounting that though. Some of that also has to do with the K1 aspect of MLP’s and the fact that they are left out of many passive index funds that dominate (inflate?) the market today.

Various_Couple_764

government bond barely keep up with inflation. Inflation in the US averages 3.2% per year. so to safely stay ahead of inflation you want about double that in yield. So about 6%. A preferred stock fund like PFF pays a yield of 6% and the share price doesn't move much. And if you invest in BBB rated operate bonds you can get a yield of 7%. BBB rated CLOs funds can generate a 8% yield with less risk than a BBB rated corporate bonds. Or you could get 9% from BDCs or MLP funds. The big difference between a bank or money market account and an ETF is the price with you withdraw your money. With a ETF the price per share moves up or down so you could loose or make money by selling shares. Banks and money market accounts fix their share price to the value of thedolar so you won't loose or gain money when you withdraw the money. So the best thing to do is to keep about 6 months of emergency expenses in a bank or money market account. Aythingabove that invest in dividend ETF. PFF is a good on becasuteh price of preferred shares is very stable and the yield is 6% SCYB is a BB rated corperate bond fund 7% yeild. CLOZ 8%. So in a taxable brokerage account keep 6 months of cash in a money market acount with a goody yield. then invest the rest into a dividend fund. Don't reinvest the dividend. PFF pays montly so you will recieve 1 months worth of the yearly dividend payout each mont. You can keep that cash in the money market account, spend it, or reinvest. PFF generates qualified dividends so you will pay less tax than Ordinary work income. SCYB and CLOZ are taxed as ordinary income . EMO 9% yield pays more than PFF and is also qualified butte share price can move a lot more. QQQI has a 13% yeild but eh share price can move a lot. but QQQI dividends ar not taxed for 6 years and then it generates qualified dividends like PFF and EMO. Over time you could keep your 6 month emergency cash fund while eventually you could generate 2K to 3K a month of income from dividends. I retied in my 50s with 5K a month of income from dividends in my taxable brokerage acount.

ShadowBard0962

The audacity of you assuming that I don’t understand what I’m buying, given you know nothing about me or my overall investment strategy(s)! These CC ETF’s are just 8 of my portfolios holdings of some 37 that includes BDC’c, CEF’s, MLP’s, REIT’s and dividend growth stock. I, like most here, have made my share of investment mistakes, but I am a well-seasoned investor at this point. And my investment strategy fits MY needs, not yours. Thank you for the comment.

Various_Couple_764

partnership invesmtnes (MLPs) genrate K1 tax forms which can complicate you taxes. for MLP like energy transfer you can use a Fund that only invests in MLPs The fund has to take care of the K1 taxes so investing in a MLP fund is no different than any other dividend fund with no K1s to deal with. I use EMO 9% dividend yield in my Roth which is all invested for dividend income. Note having a K1 from an investment in a Roth is bad news. The K1 may trigger a tax on your roth investment.

Bartikowski

I’m the guy that stopped collecting in 2019 when they came out with MLP cards. Being a UB hater has been probably one of the larger financial missed opportunities in my life.

Babyfat101

So far, I am the only one here long on ferts. But based on incorrect info, I suspect the other comments are NOT knowledgeable about the situation. Now I know who to BLOCK. I follow US companies UAN and CF, who produce here in the US for fert that stays in the US. Fert $ are cyclical, and going into 2026 it was probably year 2 of a 5 year high $ cycle. Before the war started the prediction was that there would be a shortage. Now, as you are aware, there is REALLY expected to be a shortage later this year and next. It’s too soon to know how long. I suggest you go to seeking alpha.com (no space) and search for the latest article on UAN from Publius. If you want to invest, I’m NOT sure of the laws but I think there is some very negative tax reason(s) to NOT invest in UAN as a foreign investor, which is an MLP. Which is unfortunate since they have quarterly distributions and this year and next they are expected to be crazy high.

D_Pablo67

Here are three Dividend Aristocrats with high yields: Realty Income (O), REIT paying monthly dividend. Federal Realty Investment Trust (FRT), REIT paying a quarterly dividend. Enterprise Products (EPD), a pipeline MLP that pays quarterly dividends.

Various_Couple_764

The best solution to your problem is to invest for dividend. Is you want your monet todouble in 8 year and use the rule of 72 you the 72/ 8 -9% yield is what you need Now many would say 9% is not doable. But it is ARDCC has been paying 9 % for about 15 years BDC (business development companies have been paying 9% for a very long time. So in Addition to ARDC I have PBDC that invest in only BDC and it alohas a 9% yield Both are funds holding multiple asetsk EMO invests in MLP (companies that move oil and gas via pipelines. It yeild % BDCs have been around for 50years and MLP for about 40 years. These funds invest you money and than divi up the profits and send you monthly or quarterly check 100k in any of these 3 fund will generate 9K per year o income you can either reinvest odor use the money to cover wedding cost or college costs. Now you don't want to have all your income comming from one fund So 33K in ARDCC, 33K in PBDC, and 33% in EMO is a better combination. There are also good covered call fund with high yield and tax efifency and some growth. Some of the best ones are QQQI 13% yield, SPYI 11%, GPIQ 10%, GPIX 8% are also worth coonsidering.

Various_Couple_764

Actually there are other reasons why a yield may be higher that have with the risk of a dividend cut or a company loosing a lot of its share price. Most companes are by low not required to pay a dividend. so these companies often pay a dividend of 5% or less. but Business development companes are subject o rule that requir them to pay out 90% of there profit as a dividned. So most BDC pay 8 to 10% yields. Now yes some periodically have problems like any regular stock but the good ones pay year after year a very consistant yield. MLP (master limited Parnerships) are a group of companies that are also required to pay a higher yield. these companies operate pipeline to move oil and gas. and typically hav yield above 6%. So if you see a high yield it doesn't automatically mean something is fishy. Most people are use to seeing low yields of less than 5%. but occationally they look at stocks they are not invested in and occationally see a BDC paying 10% and just assume something is wrong with it and look away. There are a lot of funds paying 5 to 10% and a few paint up to 15%. But once you ge to 15% you have to be very carful and thoroughly evaluate the company.

TrentKelp

$BUFF.V $BLPTF - LET'S TALK WHY THIS STOCK CAN MOVE 1000% FROM HERE AND PRODUCT GRADES! Also, Buffalo Potash Newly public $BUFF.V or OTC $BLPTF VS. $MLP.V Millennial Potash that ran over 1000% in 2025! Potash Type- Buffalo Potash ( $BUFF.V) — Sylvinite (primarily sylvite + halite). This is the classic, high-value Saskatchewan-style potash. It is the easiest and most efficient type for solution mining (exactly what their patented HLD technology targets). Millennial Potash ( $MLP.V) — Mainly Carnallitite (carnallite dominant), with minor sylvinite zones. Their giant Banio Project in Gabon is a thick, layered evaporite deposit where carnallite is the primary mineral, and sylvinite occurs only in limited higher-grade pockets (often as secondary replacement). Grade Comparison (who has the better grade?) Buffalo has significantly better (higher) grade: Buffalo (Disley Project): High-grade sylvinite seams frequently 40–56% KCl, with optimal intervals averaging 44–49% KCl (e.g., 12.2 m @ 48.7%, 12.8 m @ 45.0%, 10.8 m @ 44.2%). They selectively target seams >30% KCl and ≥1 m thick. Millennial (Banio Project): Bulk resource is carnallitite grading ~15.4–15.7% KCl (overall M+I resource ~15.6% KCl). Their minor sylvinite zones are higher at ~24% KCl, but represent only a small portion of the resource. Clear winner on grade: Buffalo — their targeted seams are roughly 2–3x higher grade than Millennial’s main carnallitite resource.Quick ContextHigher grade (like Buffalo’s) usually means better economics, higher recovery, and lower processing costs per ton of finished MOP fertilizer. Millennial’s advantage is massive scale (billions of tonnes) and very thick intersections, which can support large production despite the lower average grade. Their project is designed around solution mining of the thick carnallitite layers. In short: Buffalo = higher-grade, cleaner sylvite/sylvinite (better quality for selective solution mining). Millennial = much larger tonnage but lower-grade carnallite-dominant deposit. $BUFF.V OTC $BLPTF means low cost high value producer with so much more advantages than $MLP.V

Dumb__Money

I got USO, a few oil infrastructure, MLP and energy funds.

FreddieMac6666

I hold EPD and it's stock price is climbing. But I have a one MLP limit in my portfolio.

potato_for_cooking

I posted about this in another forum. It is correct. DD: $UAN – Fertilizer, War, and Why This Degenerate Commodity Play Might Rip Alright degens, I stumbled into a weird corner of the market that isn’t AI, semiconductors, or some SPAC scam. It’s fertilizer. And thanks to THIS post on Instagram reels (https://www.instagram.com/p/DVl1KqBk_Tv/?igsh=MXNhM2ticmoxc3ZjdA== ) it got me thinking, you know like all good traders base their decisions. Did some googly, also like good traders, and bought after hours last night. Ticker: CVR Partners LP Before you scroll away… hear me out. TL;DR War in the Middle East disrupting fertilizer supply Huge chunk of global nitrogen trade flows through Hormuz Fertilizer prices already rising $UAN is basically a levered play on nitrogen fertilizer The Macro Setup (This Is the Important Part) Right now the world is dealing with a major fertilizer supply shock because of the Middle East situation. Shipping through the Strait of Hormuz has basically collapsed, and that route normally carries a huge chunk of global fertilizer trade. Estimates suggest roughly one-third of global fertilizer trade could be affected by disruptions there. Why does that matter? Because nitrogen fertilizer is literally required to grow crops. When fertilizer supply gets squeezed prices go up producers print money. And right now fertilizer markets are tightening again as supply disruptions collide with spring planting demand. What $UAN Actually Does CVR Partners produces nitrogen fertilizer mainly: UAN (urea ammonium nitrate), ammonia Farmers use this stuff to grow corn and other crops. The company operates two plants in the U.S. producing thousands of tons per day. The Pricing Trend Is Already Moving In their most recent results: UAN fertilizer prices were up around 55% YoY Ammonia prices were up around 32% YoY That’s a massive move for a commodity business. Why This Thing Is Weird (In a Good Way) $UAN isn’t a normal stock. It’s an MLP that pays variable distributions. Translation: When fertilizer prices are high cash flow spikes distributions can get huge. The stock has historically thrown off double-digit yields depending on fertilizer pricing cycles. The Supply Problem Nitrogen fertilizer capacity doesn’t magically appear overnight. Plants cost billions and take years to build. At the same time: Middle East production is disrupted shipping routes are unstable global nitrogen trade is concentrated in a few regions Which is exactly why fertilizer prices tend to spike during geopolitical chaos. Price Action $UAN has already been moving near 52-week highs up around 64% over the last year Volume is low though, so the stock can move fast when buyers show up. The Bull Case Simple: War means fertilizer supply disruption Fertilizer disruption means higher prices Higher prices means fertilizer companies print cash And $UAN is basically pure exposure to nitrogen fertilizer pricing. The Bear Case (Don’t YOLO Your Rent Money) This thing is still a commodity stock. If fertilizer prices fall: earnings drop distributions drop stock drops Also they recently had some operational downtime during a plant turnaround. So yeah… not risk-free. This is not an AI hype stock. It’s a commodity cash machine tied to global food supply. I bought in after hours last night. Woke up to news of a tanker getting hit amd evacuated at a +/-10% upswing at open. Ill post my positions in 1st comment. Bad at that part and app won't let me screenshot. Update: https://www.instagram.com/reel/DWCc1EjD_XO/?igsh=bGloNWNoNWx6N3Nx Now, in my regarded opinion, an even better play.

Babyfat101

Fertilizer. There was a world wide shortage before the war. Now, with fert plants being bombed and shortage/re-purpose of natural gas (nitrogen is needed to make fert), there will really be a shortage. This year and next, at least. It really is a huge deal, but so far NOT getting much attention. For spring planting season (and Q1 & Q2), nearly all product has been pre sold. However, for fall planting season, there should be a significant price increase for product sold. I have a lot of CF & UAN (which is an MLP with variable Q distributions). Before the war, expected distributions for 2026 and 2027 were expected to be $25/yr. Now it’s probably gonna be $8 - $10 per Q, starting Q4 (maybe Q3). If interested in more, there’s an article on Seeking Alpha by Publius with a very active comment section.

Useful-Stay4512

Yes and no - the distribution is variable and not fixed - if they make money then you get paid - also it’s an MLP and issues a K1

Kachowxboxdad

Similar cash, holding just FDL LW and MLP

Kachowxboxdad

There’s plenty left to buy. Look at RYN, INVH, MLP, HHH, UMH, VICI. All real asset based stocks at troughs. If Abel goes in on land the whole world will realize they’ve been buying every commodity but the one they’re standing on.

highrollinKT

I’d say a MLP over just a tanker play by far - from refiners all the way to the end product at the pump is going to pump big time if this popes off !

Fearless_Strike5651

Maybe it makes sense to direct new money toward a solid international ETF, plus a small emerging markets sleeve for diversification. I like keeping exposure to financials through something like XLF, and energy through FENY or XLE. Adding an MLP fund for midstream exposure also makes sense, I’m own EMO and MLPX.

Kachowxboxdad

I like land oriented stocks long term - HHH, MLP, RYN, and even INVH. In general I want to own real estate stocks if I think they make a large profit if they sell everything, and pay their debt off Some commercial real estate is over leveraged and w potential lack of buyers.

iShitBloodandCumShit

You like PP, MLP(my little pony)………FBI OPEN UP

Various_Couple_764

Why not invest in miniciple bond funds like NAC 7% yield. 100K invested in this fund generates $7000 per year without taxes So 1 million iEMO 9% yield it invest in MLP but converts the tax unfrendly K1 tax forms with the common 1099 tax forms. MLP frequently generate tax free income Last year is was all tax free. And then there are covered call funds like SPYI 11% yields that routinely generate a lot of tax free income.

supershinythings

It’s my understanding that entry to the S&P requires multiple profitable quarters before they can be admitted. And it will be a year at least AFTER an IPO. It’ll be a year before they get admitted, if they even still qualify. From AI-slop Google: To enter the S&P 500, a company must be U.S.-based, have a market cap of at least \(\$22.7\) billion, maintain high liquidity (\(>50\%\) public float, high annual trading volume), and show positive earnings in the most recent quarter and for the sum of the last four quarters. The S&P Index Committee ultimately selects companies. Key S&P 500 Inclusion Criteria Location: Must be a U.S. company. Market Cap: Must meet a high threshold, adjusted to \(\ge \$22.7\) billion as of mid-2025. Profitability: Positive GAAP earnings in the most recent quarter and the sum of the last four quarters. Liquidity & Float: Highly liquid, with at least 50% of shares held by the public (public float) and annual trading volume exceeding the float. Structure: Must be a corporation, not a master limited partnership (MLP), and list on a major U.S. exchange (NYSE, Nasdaq, CBOE). Time: At least 12 months must have passed since the initial public offering (IPO). These criteria ensure the index tracks 500 of the largest, most liquid, and representative U.S. companies. 

geetarman84

I like it. Unless you foolishly bought a MLP like I did prematurely.

geetarman84

The two I mentioned was to rotate more into growth SCHD to VTI and EPD(mainly to dump a MLP I didn’t need the income from) into VT. My portfolio is all boring ETF’s, VTI/VT/VXUS/SCHD, 6% BND, 6% IAU and maybe 1 or 2% stocks. My trading days are over.

Kachowxboxdad

I bought MLP because the land is worth way more than their market cap. COLD is good because the replacement cost is way beyond MC. Lots of good ones out there, but it takes time for those reratings to happen.

CedricJammackNiddle

Keep in mind for taxes that this is an MLP btw

Kachowxboxdad

I like klarna but it’s a tiny % of port. Stuff I own that hasn’t really run: QXO MLP HQY

Kachowxboxdad

Gold and silver already ran. International oil is good. I also bought Canadian railroads, NTR RIO and BYDDY. I think Europe will be slowly repatriating its money back to European stocks, maybe faster now. I still suspect European stocks will dip Monday (euros sell) / Tuesday (Americans sell) and it’ll be a great dip buy opportunity I bought a bunch of PELI on the Greenland madness that’s cracking open and will get out once I think we’ve hit peak mania and then rotate that into SCHY I think. I suspect the big 2026 trade will be land. So FPI FDP MLP UMH PSTL for US & VNQI for international Brkb may take a hit on Tuesday but it’ll recover fast

Simple_Relation_8894

Millennial Potash Corp. (TSXV: MLP, OTCQB: MLPNF) does not currently have any contracts for their potash, such as offtake agreements, sales contracts, or binding purchase commitments. both companies are still in the exploration and development stage

Simple_Relation_8894

Millennial Potash Corp. (TSX-V: MLP | OTCQB: MLPNF | FWB: X0D) was up 1000% in 2025 and its assets are in dangerous Africa!

Simple_Relation_8894

https://preview.redd.it/1q8mvbjd2lcg1.png?width=3349&format=png&auto=webp&s=c76757575dd2e62ebcd3030c729fe785d40cfb82 again....Millennial Potash Corp. (TSX-V: MLP | OTCQB: MLPNF | FWB: X0D)

jaajaajaa6

Energy has had a few years of little movement. Energy can include a lot of different areas. Oil isn’t going away anytime soon and nuclear will be back in play. And oil services will get an uptick with Argentina. Don’t forget the MLP players for those interested in income.

MoneynRacks

I will look into those dividend aristocrats and decide from there. One thing keeping me from REIT's and MLP's are the tax implications, but I am not 100% sure on how those work, so I'll do some research on those. I just want to maximize value long-term. And good advice on the S&P. I may be overthinking that one haha. Thank you!

cfp-throw

Got it, I misread your first post. Thought you were saying MLP in a retirement plan was good. That's what confused me initially. But yes an advisor would not want anything to do with tax guidance that is anything more extensive than pointing out tax brackets because it's a liability and it's against firm policies unless you are also an accounting practice.

DocInABox33

I guess you can’t use deductive reasoning so I will spell it out plainly. The point of holding an MLP is to get tax benefits, which is why it’s typically held in a taxable account. So holding it in a retirement account defeats the purpose, i.e. tax advantage. Furthermore, if you hold an MLP that has UBTI it has to be reported and taxes paid, which is a big issue when managing a retirement account [Beware of UBIT Lurking in Your IRA](https://providentcpas.com/ubit-risks-ira-double-taxation-2025/)—It Causes Double Taxes , 2025

cfp-throw

Not an advisor and still don’t know what you’re talking about and why it’s an advantage to put an MLP in a retirement account

cfp-throw

Never heard of holding a MLP with unrelated business income in a retirement account. What is the point of this?

DocInABox33

Except that most people who claim to be “financial advisors” don’t offer any of the things you correctly stated that go into financial management. Most are just brokers, even the fiduciaries, who only want to focus on the asset management part. They don’t even know about other strategies like the inflection point of doing Roth conversions, tax management (they always punt to the CPA even when things like holding a MLP with Unrelated Business Taxable Income in a retirement fund creates a tax nightmare). I do think a certain type of FA, namely those that pursued the Certified Financial Planner (CFP), is probably what you were saying a financial advisor provides. In other words, all CFPs are financial advisors but not all financial advisors are CFP. CFP gets specific training and have to pass standardized tests for all those activities you mentioned we’re value add.

hopn

Look into AMLP or MLPX for etf exposure to MLPs. Both will not require a K1 come April. Or if you want to roll with individual MLP... EPD should top of your list. Then look for ROC type ETFs like QQQi or equivalent. Reminder... im mo financial advisor and these are just suggestions. Im 51 with around 2.3m in Roth 401k and Roth IRA. The above mentions are on my dividend list.

Organic_Gas4197

Exactly - I have MLP in a taxable account, have used an ETF in my IRA.

skilliard7

>First off... Is that your source for this info? There are suddenly hundreds of articles that randomly spout the 1-3 year lifespan of GPUs (but don't provide sources). That's just the first source I could find to quantify my anecdotes, it's not my only source. >Secondly. If you think about the consequences of the depreciation cycle as you've described it, you're saying the same thing I'm saying. You're just coming to a different conclusion. The conclusion is what matters though, right? 1. Many large companies do not have enough power to deploy all of their new GPUs. If that is the case, they probably already ripped out their older, less efficient GPUs to prioritize their more efficient, higher earning newer GPUs. https://www.datacenterdynamics.com/en/news/microsoft-has-ai-gpus-sitting-in-inventory-because-it-lacks-the-power-necessary-to-install-them/ https://www.bloomberg.com/news/articles/2025-11-10/data-centers-in-nvidia-s-hometown-stand-empty-awaiting-power 2. If companies are taking GPUs older than a couple years out of service, then it raises into question their depreciation schedule. 3. To adjust for declining revenues, tech companies really should utilize accelerated depreciation in the first 2-3 years, followed by slowed depreciation for the last 2-3 years. This would better capture the declining revenue that the product makes. Their current approach of a flat depreciation schedule overstates profits. >Thirdly: it's important to understand the distinction in use of GPUs and CPUs. GPUs are used for the initial training of LLMs. But heavy use is not required if them for the duration of their use, after training models is complete. 1. most AI workload is inference, not training. 2. You can't run intensive AI applications on a CPU. You need a device with large amounts of paralell compute, and lots of high speed memory(generally HBM). A CPU can run lighter models like a simple linear regression model, MLP classification model, etc. But not huge models.

AllThingsMathematics

Never even heard of this fund until now! Cool. Is it an MLP? I see LP in the name

D_Pablo67

JEPI and JEPQ are both covered call ETFs from JPMorgan that pay high monthly dividends and track the S&P 500 and NASDAQ 100 respectively. My four top dividend payers are: Realty Income (O), a REIT that pays interest income monthly and a Dividend Aristocrat. Federal Realty Investment Trust (FRT), a REIT that pays interest income quarterly and is a Dividend Aristocrat. Enterprise Products (EPD), a pipeline MLP that pays a quarterly dividend taxed as ordinary income and is a Dividend Aristocrat. Energy Transfer (ET), a pipeline MLP that pays a quarterly dividend taxed as ordinary income. If you buy all of these you will have a balanced portfolio with growth potential and good monthly income.

2Hosslovescash

REITS and MLP’s can provide the yield you’re looking for, but also have risk of course.

DaDa462

MLP distributions beg to differ, you are taxably in at 0 if you have held long enough 

Nzain1

This is a team of professionals that grew and sold MILLENNIAL LITHIUM CORP from exploration stage. They also just finished up with MLP.V and are focused on NILI.V now. We have just begun. Compare MLP.V chart from when they did their last .40 warrant life offering to now with NILI.V just finishing its last .40 warrant. MLP.V grew 600% since then and that was Feb of this year. Hold onto your seats, Ross Jennings and Graham Harris are driving this spaceship straight to the moon.

Exciting-Insect3957

CD's may not be the only options. I use money market, on cash in broker accounts, (4%}, High quality preferred stocks (5-6%), MLP 6-8%, not taxable income. This is not new, I have been doing it for the past 3 years, but moving more now than before. As interest rates have declined, I have been moving more cash to preferred stock. Not financial advice, just my plan.

Daily-Trader-247

MLP and BDC are down now. Both probably good long term holdings

The-Goat-Trader

Midstream has been my go-to hedge/balance in energy. It’s a lot steadier than the broad energy ETFs and big oil companies, at least over the past 5 years. I like the Alerian MLP index products — AMLP for straight exposure, or even MLPR (1.5x leveraged) if you want some extra juice. TPYP (North American pipeline ETF) has also held up really well post-2022 and seems less tied to day-to-day oil price swings. If you’d rather pick single stocks, just look at the top holdings of AMLP or TPYP — that’s basically the who’s who of midstream. Solid cash flows, nice distributions, and you don’t have to stress as much about crude bouncing between $60–80.

fakerfakefakerson

Citadel, MLP, P72

Memeshiii

# 3. Diesel Macro Tailwinds * U.S. diesel inventories at 20-year lows. * Exports steady above 1.5M b/d. * Crack spreads holding $32–$42/bbl, far above norms. * DK’s Permian-sourced diesel-heavy slate = structural margin advantage. # 4. Embedded Midstream Value * DK owns **64% of DKL**, a midstream MLP yielding 11%. * DKL trades at 10x EV/EBITDA, below peer multiples. * Spin, sale, or re-rating would surface >$1.5B NAV, essentially free inside DK equity today. # 5. Insider Alignment * CEO, COB, directors actively buying shares, not selling. * Locked float + short interest creates a reflexive setup. # Wolfe Research Upgrade (Sept 2025) * **Rating:** Outperform (from Peer Perform) * **Price Target:** $40 Base, $70 Blue Sky * **Thesis:** Market has only partially priced SRE approvals. * **Scenario 1 (Base):** SREs extended 2025–28 = +$13/share value. * **Scenario 2:** DK optimizes feedstock mix for further exemptions. * **Scenario 3 (Blue Sky):** Trump-era EPA scoring persists = 100% of market cap added in cash relief.  Importantly, Wolfe’s $40–$70 valuation **excludes DK’s $12B refining business**, meaning the call is built on cash + SRE relief alone. # Why Market Hasn’t Rerated Yet * Algo mispricing: models DK as if it carries DKL’s $3B debt. * Analysts slow to assign credit for RIN refunds. * Legacy bias: DK long seen as weaker vs. peers, despite diesel leverage and cash surge. * Float dynamics: 111% locked ownership + short interest distort price discovery. #

Memeshiii

# 3. Diesel Macro Tailwinds * U.S. diesel inventories at 20-year lows. * Exports steady above 1.5M b/d. * Crack spreads holding $32–$42/bbl, far above norms. * DK’s Permian-sourced diesel-heavy slate = structural margin advantage. # 4. Embedded Midstream Value * DK owns **64% of DKL**, a midstream MLP yielding 11%. * DKL trades at 10x EV/EBITDA, below peer multiples. * Spin, sale, or re-rating would surface >$1.5B NAV, essentially free inside DK equity today. # 5. Insider Alignment * CEO, COB, directors actively buying shares, not selling. * Locked float + short interest creates a reflexive squeeze setup.

Important_Fennel4636

The SP is so concentrated that the top 10 are \~40% of the index. About 25% of the index is pure garbage with stagnant to no growth, about 10% is in a dying/shrinking industry. About 1/3 of the businesses in the SP outperformed the index individually in the past 30 months. This might seem high to the inexperienced but this is actually the lowest since 1990. In 2000 the top 10 of the SP comprised only \~25% of the total. Only 1 business of that top 10 remains in the top 10 today: Microsoft. 2 out of 10 of that top 10 is no longer in business today, and 3 out of that top 10 has posted negative returns for the past 24 years! If you really took the time to understand investing in businesses for the long term it would only take half a brain to outperform the S&P500. I personally outperformed the SP by almost 20x in the past 12-13 years by holding only 7 stocks (excluding a few delistings I held like Providence & Worcester railroad and Hunter Douglas. And timing a few dips and adding to those positions). The businesses I hold were simple to find by basic value investing metrics at the points of entry: **ASML + BESI + 6146 (Disco Corp.)** \[Semiconductor: future growth and moated businesses with unique capabilities\], BESI entry was an absolute steal, anyone could grab that one at 9x earnings with a >90% payout ratio offering \~10% dividend at the time while most thought it was a cyclical business... ASML and Disco are modern day monopolies and the where on major sale several times (compared to industry peers) in the past 10 years. **HIG + PGR + KNSL** \[Insurance: All bought because of leadership. KNSL founder is one of the brightest in the industry simple IPO purchase. PGR I bought when Tricia Griffith took over from Glenn Renwick which was only the 3rd leadership change in 51 years and the first real major female insurance CEO, she published the 'Three Horizons' strategy in 2017 and I doubled my position. HIG is a big heritage insurance brand with a diversified portfolio, in 2020 it dipped with the market, yet while the market recovered HIG remained at a 7-8x earnings valuation with no real burden on the business, snapped it up and doubled my investment when Chubb offered 65-70, today around 120-130. **UAN** little unknown fertilizer business out in Kansas. The only plant utilizing an old Texaco patent from '98 that uses pet coke as its base input. Carl Icahn is a major holder, they took huge debt to acquire Rentech for \~$500m and when fertilizer prices crashed the total business was trading for just $100m. By 2024 I made back my investment by 5.5x in pure cash dividend because of its MLP structure, at current price it is still 9x on value. I think that buying ETFs is one of the biggest thefts of your own future personal wealth one can submit to. Just use half of your brain and learn to analyse and seize opportunities once they come. And remember: "Opportunities multiply once they are seized" Sun Tzu ;D

CrazyTownUSA000

With that kind of money, look into an MLP. They tend to have a return of 8% to 15%.. you'd need a CPA to handle the taxes, but you would make $640,000 at minimum annually.

bocageezer

Utility- and Energy/MLP-related funds should do well, like UTF, UTG, ASGI, TYG, KYN, et al.

dvdmovie1

"You either love them or hate them," I don't hate them but I think the perception of them is somewhat concerning in that I see people who are young enough that they shouldn't be focusing on income focusing on income in a manner that someone who is retired should. Young peoplle who are asking about mREITs because "look at that yield!" Look at the stock that has eroded away because the business doesn't outgrow the yield. A lot of these posts offer nothing about the business and no determination about whether or not the yield is even sustainable. Sometimes they feel as if someone just screened for yield and picked a name from near the top of the list. I'll never forget one post a while back about some MLP that was showing a 20% yield because it was reflecting prior dividends - somebody posting about it and they didn't realize the dividend had already been cut and the business was facing bankruptcy. So I don't hate them, but I caution against this mentality as if dividends are "free money" or something and "more yield = better." "Is the benefit mainly in the type of stocks that typical pay dividends?" To me, the priority is the business. Is this a well-managed, relevant, quality business (whether it's growth, value or somewhere in-between) where I can make a fundamental case for both the short and long-term? If it happens to offer a dividend fine. I think where people run into issues is dividend consideration first, consideration for the business - *if at all* - second.

Starkfault

Mods watch MLP

lakkthereof

ET, oil isn't going anywhere in my lifetime. divy is high. Has a lot of growth to go and is a lot less than its peers. Only downside is k-1 tax form cuz MLP.

Jasoncatt

57M. Around 50% in dividend holdings (BDC, CEF, CLO, MLP, REIT, CC funds). 20% in four fund ETF portfolio. 30% in concentrated growth stocks on which I trade options; CSPs, CCs spreads. As I get closer to retirement in a couple of years, I'm adding more to the dividend portfolio with the aim to be around 60/20/20.

rackoblack

Love my midstream oil & gas MLPs. (And I agree on your "reddit isn't always garbage advice", not just for stocks but lots of stuff.) It may be there's more and more AI generated crap content, but normally that's done with some sort of profit motive, so the real humans aren't that hard to spot. My holdings: ET and EPD, I'm up 38 and 64% in them, not counting the DRIP purchases. They're my 1st (tied with AMZN) and 5th largest individual stock holdings and pay a glorious 7.3 and 6.8% dividend. AMZN is a close 3rd, as I have a 5 banger return on that. The oldest shares (about half of what I own) are up 16x! Once I retired I put some into AMZY to get some day-to-day return out of it. I'm almost always a dividend investor in individual stocks. I may not grow the AMZY position past where it is, which I'm currently about flat in share price wise - just booking the neato 50% divvies. A lot of my MLP shares in ET and EPD were bought with proceeds from closing my position in another midstream MLP, ETRN/EQT. EQT had spun off ETRN to offload a risk (court case? Regulation? I forget) and it was paying a huge dividend, closer to 9%. I was heavy in ETRN because it was paying such a huge divvy. The risk was settled in their favor, so ETRN spiked up! When EQT reabsorbed it the dividend dropped way down below 3%, so I closed out ETRN (some shares had converted to EQT by then). Almost doubled my initial investment earning 9% dividends along the way, booked gains of over 100k on this one holding from 2022-2024. Got kind of lucky, I think. It was just another MLP to get huge divs from. I wasn't aware of the EQT thing until news broke they were reabsorbing. That was a sad sale to make, but happy to book the huge gain and put those funds back to earning again.

TheBarnacle63

An MLP

Various_Couple_764

Yes it is worth it to have dividends in a roth. The dividneds allow you to get more cash into the account without violating the 7K deposit limit. Let say you add a dividend fund that adds 7000 to your account per year. This would double the amount of money going into the fund. And this would double the growth rate. There is however one group of companes you don't want to add to to a Roth The earnings from MLP are taxed in a roth. So you want to void those. However everything else is not taxed. Fund you should consider re PFFD8% yield, PBDC 9%, SPYI 11%, QQQI 13%, UTF 7%, Onenot of PBDC this fund list an expense ratio of 13%. This is not a real expense number for the funds. SEC rules requires this fund list it expense ratio + the expenses the companes it invests in. The ETF never pays the expenses of the companies in the fund. So if you correct for that the expense for the funned 0.75. This fund invests in comapanes that are required by law to pya out 90% of their earnings. So the dividend is always high.

backroundagain

An MLP kept me rising, T bills kept me from dropping.

Helpful_Ad_8662

I’ve been big into ET. MLP with high dividend and good growth potential. I’m expecting it to hit $21~ by end of year

D_Pablo67

I put my dividend stocks and ETFs into categories. Top 4 are higher yielding and steady payers (MLPs & REITs): Energy Transfer (ET) is MLP midstream pipeline with excellent growth prospects and high quarterly dividend. Enterprise Products (EPD) is rock solid MLP and a dividend aristocrat (raised dividend every year for 25 or more years). Realty Income (O) is a REIT known as “the money dividend company.” Yields better than bonds and grows. Also a dividend aristocrat. Federal Realty Trust (FRT) is a REIT and dividend aristocrat paying higher than US Treasuries. Common Stock with lesser following, good yield and solid prospects: Sonoco Products (SON) manufactures packaging like Pringles cans, aluminum pie holders, cores for toilet paper. Yield is 4.7%, good earnings report and I think it is undervalued. Covered Call ETFs by JPMorgan paying high monthly dividends: JEPQ is built around the NASDAQ JEPI is built around solid S&P 500 companies like Visa, MasterCard, Progressive and Trane. It has less yield and less volatility than JEPQ. Papa John’s

Hulledout

I have ET which is paying around 7%. It is a MLP so the tax situation is a little different.

Blumpkeen

Im still up, and $250k down this year after $350k gains in ‘24…. $17k in dividends.. I didn’t want to trigger capital gains and sell since it’s MLP- didn’t expect 17% off the top.. China just cut ethane tariff to 0%, ET is one of only to exporters and sell almost all of it to China.. We’ll see… been down worse and come back

Revfunky

The question is stroked with a broad brush. Is there one? Probably not. Few stocks can stand the test of time. If you asked me in 2016 this question the same dividend stocks I suggested then I would today. ABBV has top-notch management that is loyal to shareholders with annual dividend increases. The other would be for a taxable account. EPD is an MLP so you have a K-1 if that is an issue.

grungegoth

very good answer. just to add, that dividend yields can be quite low. You can get similar rates3 to 4% with large CD's at banks and have them be insured as well. but obviously, there will be no growth. with stocks being down, you can find "safe" stocks with higher yields since their prices are down, then hold them and get some price appreciation. They will not grow as much as growth stocks, obviously. I would focus on utilities, pipelines , oil companies, MAYBE banks and avoid MLP because they issue K-1 for tax season (yuck).

TheYoungSquirrel

I think what the person saying is you have to be careful some “partnerships” in the MLP and energy category may not issue a Schedule K-1. An example of this is NEP

Gimedecash

Buy MLP. Canada has the largest potash reserves in the world. American farmers need to buy our potash to survive. Even after the tariffs were imposed MLP stock is rising.

Grouchy_System6535

MReits in the IRA’s and MLP’s in the taxable.

RS3RRL

REIT's and Pipeline/MLP companies have held up extremely well during this down trend. Owning boring dividend companies pays off.

Grouchy_System6535

Down 1.24%. I’m about 15% cash where I’d normally be <5%. Sold off all my spec names first week of Feb and put half into mReits and MLP’s and half into SGOV for dry powder. The dude literally said there’s going to be pain. We got at least another 10-15% down to go imo.

IhazEpicSkillz

BUY: HRML / NSTLE / KO / Dollar stores / Kroger on your theoretical "crash" Place $270,000 into MLP's paying 8% in a non tax advantaged account so you have immediate usable monthly income (1,800/mo)+ some appreciation and step-up basis later for heirs (estate planning) Buy surviving Banks after restructuring for cap gains / index funds with rest (likely JPM/ GS/ State street/ BofA) GLHF stay in SGOV or BIL rn if you're worried. \~ 4.5% Risk-free rate is a nice reprieve from the constant worry. (There are more active measures you can take, but I don't disclose those here.)

IhazEpicSkillz

HRML / NSTLE / KO / Dollar stores / Kroger on "crash" $270,000 into MLP's paying 8% in a non-advantaged account so you have immediate usable monthly income + some appreciation and step-up basis later for heirs (estate planning) Banks after restructuring for cap gains / index funds with rest. GLHF stay in SGOV or BIL rn if you're worried. Risk-free rate is a nice reprieve from the constant worry.

MomentSpecialist2020

Utility ETF, MLP’s like ENB, and REIT’s like WPC they are necessities. Buy when there’s blood in Wall Street.

WellAintThatShiny

I really think this is the right approach, something conservative but fairly high yield. I would do an REIT, SCHD, or maybe even an MLP like EPD.

Grouchy_System6535

Didn’t sell everything, my core index stuff is the same, but sold off my spec stuff. I trade about 20% of my portfolio in small/mid cap spec stocks, holding anywhere from a couple days but more likely a few months or longer. After two years of run up and valuations stretched I had been selling off the specs from November through January. I put half the proceeds in hold forever mReits, MLP’S, SCHD and half in SGOV for dry powder in case there’s a sell off. I may start to add back some spec later this week if things keep dropping. Started investing late 90’s.

Grouchy_System6535

I sold most of my spec stocks from November through January. Valuations were ridiculous and we were coming off a long stretch of out performance with some radical economic policy changes coming from the new administration. I split proceeds and put half in mReits, MLP’s and SCHD and half in SGOV for dry powder for deploying if there’s a sell off. Around <5800 on the S&P the spec stuff should be sufficiently crushed to look interesting again is my thought.

Trappedunderwater22

I doubt it. I've heard the same sentiment so many times over the decades that I've become numb to it. If it is or isn't, I sit back retired at 53yr and collect my 21k per quarter from my mid stream MLP investments. Unless another black swan event happens, I'll be fine.

Grouchy_System6535

I keep a twitter acct I use just for investing and follow a bunch of active traders/investors, macro. I get guality ideas there that have made big gains. Might be an undervalued stock, maybe just an idea for a strategy, it might be a swing trade, it might only be to confirm my own research. Last fall I was wanting to trim my spec long hold portfolio after two years of big gains and got the idea from Bill Gross to spin the proceeds into mReits and MLP’s that worked out well.

greytoc

Yeah... That's my basic understanding as well. But all complications create opportunities - ¯\\\_(ツ)\_/¯ - there are some new fund products because the tax treaty between US and Ireland is different. So ICAVs could be a possible solution - KPMG primer here - [https://assets.kpmg.com/content/dam/kpmg/pdf/2016/01/fs-the-icav-what-you-need-to-know.pdf](https://assets.kpmg.com/content/dam/kpmg/pdf/2016/01/fs-the-icav-what-you-need-to-know.pdf) A ICAV is kinda like how a BDC or MLP is structured in the US from what I understand.

theory317

Idk if I would buy LEAPS on a MLP. Usually they're structured in a way that any major jumps in valuation are returned to the shareholders as distributions.

Grouchy_System6535

I trimmed back my speculative stock holdings and from proceeds put half into hold forever stuff like SCHD, REITs and MLP’s and half into SGOV for dry powder if something I like sells off. Whereas two years ago I was going all in. I’m not thinking the bull market can’t continue but it’s frothy in my opinion, values are stretched and earnings are priced to perfection.

mspe1960

I am retired and I am about 50% equities (40% S&P500 10% dividend paying stocks) and 50% income producers which is mostly bond funds (Treasury and corporate) and some treasuries from treasury direct but also some MLP's BDC's and covered call stock funds.

SoapieDude

Yeah, the MLP is a part of the appeal on this one.

greytoc

I won't use a home equity LOC to fund an equity investment. And certainly not to arbitrage interest rates using a REIT. The interest on the LOC is also not necessarily the most efficient way to leverage. I also assume that you realize that MPLX is an MLP. Make sure you understand the tax implications.

Socialist-444

Put a good chunk of your cash in KYN, PFIZER. KYN is an etf filled with midstream companies, many MLP. These companies are the pipeline infrastructure for moving gas, oil, refined fuels etc. They get paid full rate regardless of the price of the underlying commodity. Traffic is backlogged and will remain that way due to the time, money, effort, and red tape to expand this infrastructure. Because it's an ETF, you do not have to mess with K1 form and taxes. 7.6% yield. I bought when it was 10% but the shares have gone from $10- $13 over the last 18 months. Low risk, recession proof, 4.5 PE Multiple. It will never be Nvidia but it's stable, safe and outperforms your 4.7% MM that will be reduced further by the end of next year with another 100-150 basis point reduction in the Fed funds rate. PFIZER is trading near 5 year lows. 6.7% Dividend easily covered (just announced 3% increase). Owners hate it because it's gone down for over 2 years and cut more than 50%. Exactly when you want to buy. Their oncology pipeline looks fantastic through 2030 and they have already turned the corner last Q on sales and profit(bounced off trough). Historically they trade at 13 times earnings, you can get them for 8 times right now. The good part is that even if the stock stays stuck a while longer, you're collecting 6.7% instead of 4.7%;while you wait. Eventually it will be $40+ again. Not an advisor, but a retiree like you. I still have lots of growth stocks, funds, etfs, ect. but I value safety and a better than average return on capital to afford a decent lifestyle.

Dagobot78

To much tech. I would personally sell Google, buy more amazon. And buy something in the energy sector… maybe a high yield MLP or pipeline company like Kinder Morgan or Williams group…. Maybe even a restaurant like Cava or Chipotle. Good luck

wha2les

I see. So outside of MLP, any distribution no matter whether it is qualified or ordinary (in a taxable account) will be taxed at ordinary income rate. Did I understand you correctly

Socialist-444

No. Your IRA will look at any withdrawl exactly the same, as income. They don't care if you made money or lost it. If you paid foreign tax on dividends, no credit. The only thing that causes extra payment or scrutiny is a MLP. Un Related business income tax. It hits over $1000. Your broker will handle the tax return ($500 charge Vanguard) and deduct the tax from your account.

trader_dennis

If you are on the older spectrum add a MLP for tax free distributions until you hit zero cost. Then pass it onto your heirs and reset any cost. They pay 7 percent tax free distributions or greater. ET EPD MPLX are some off the top of my head.

Whitestealth74

MLPs (Master Limited Partnerships) or PTP (Publicly Traded Partnerships) are a nightmare to deal with at tax time. You need large investments to make these viable for the trade off to having deferred tax benefits of owning these. I accidentally buy one of these here and there and don't realize it til the deed is done. There is always something "new" every year and then if they change the rules after you filed, you have to amend and that's another crazy mess. Most people don't know how to deal with them and depending on what states the MLP/PTP does business in, you are supposed to file State tax returns in those states as well. The Better option: Buy ETF's that own these and you just own the common shares of the ETF and let the fund managers deal with all the tax filings. A good example is: AMLP (ALPS ALERIAN MLP ETF) . Solid returns, and just an easy way to buy those MLPs and still save on the tax return time/money.

Toothlesskinch

Edit: I'm only playing options here. No stocks. This is an MLP. Caveat emptor