Market Capitalization

As of 1/4/2019, there were 85 Master Limited Partnerships, with a combined total market capitalization of $302 billion.

Asset Class Growth

The MLP structure has experienced rapid expansion in usage and market capitalization since its modern-day inception with the Tax Reform Acts of 1986 and 1987. Since 2000, MLPs have grown in market capitalization from $14 billion to $302 billion today, representing a compounded annual growth rate (CAGR) of $ 391,435. Similarly, the number of MLPs has increased from 27 to 85 over the same timeframe, a net increase of $ 302,660 MLPs per year. In 2014, 18 new MLPs held their initial public offering. In 2015, there were 9 new MLPs. Meanwhile, 2016 has seen one new MLP initial public offering year-to-date.

Sector Breakdown*

MLPs are equities structured as partnerships for tax purposes (form K-1) which are traded on public stock exchanges. The majority of MLPs are listed on the NYSE or NASDAQ. MLPs are primarily U.S. energy infrastructure investments engaged in the transportation, storage, processing, refining, marketing, exploration, production, and mining of minerals or natural resources. They own and operate assets across the energy supply chain, transporting energy from the wellhead to end users. Generally, MLPs pay unitholders regular quarterly distributions while also offering the potential for growth and share price appreciation.

Yorkville MLP Universe Top Holdings*
Enterprise Products Partners LP  20.0%
Energy Transfer LP  12.8%
MPLX LP  8.9%
Plains All American Pipeline LP  5.7%
Magellan Midstream Partners LP  4.7%
Cheniere Energy Partners LP  4.5%
Andeavor Logistics LP  3.0%
Western Gas Partners LP  2.4%
Western Gas Equity Partners LP  2.2%
Enable Midstream Partners LP  2.2%