Virtus Duff & Phelps Select MLP and Energy Fund A
VLPAX
NASDAQ- -
USD
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Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management
- Address
- Greenfield, MA 06103 Greenfield MA United States of America 06103
- IPO Date
- Sep 11, 2015
- CIK
- 0001589756
- Website
- virtus.com
- Similar Companies
- Business
- Virtus Duff & Phelps Select MLP and Energy Fund A (VLPAX) is an open-end mutual fund that seeks attractive risk-adjusted total returns primarily through investments in North American energy infrastructure, with a secondary objective of current income. The fund normally invests at least 80% of its net assets in equity securities issued by master limited partnerships (MLPs), general partners (GPs), and C-Corporations focused on midstream oil and natural gas assets supported by long-term, fee-based contracts; these include natural gas pipelines, liquefied natural gas facilities, petroleum transportation and storage, gathering and processing, diversified energy infrastructure, electric local distribution companies, power generation, and downstream energy operations. It maintains a high-conviction portfolio of 25-35 securities, emphasizing companies with strong cash flows from U.S. production and exports, geographic footprints in high-quality basins, and exposure to supply/demand trends, with current allocations featuring approximately 85% in C-Corporations, 15% in MLPs, and minor cash holdings; top sectors comprise diversified energy (37%), natural gas pipelines (23%), electric LDC and power (15%), and LNG (9%), while top holdings as of September 30, 2025, include Cheniere Energy Inc. (9.21%), DT Midstream Inc. (8.20%), and Williams Cos Inc./The (8.14%). The fund targets investors seeking mid-cap value exposure in the energy limited partnership category, with operations domiciled in the United States, available for sale to U.S. investors, and benchmarked against the Alerian Midstream Energy Total Return Index. Launched on September 9, 2015, the fund is part of Virtus Alternative Solutions Trust and managed by Duff & Phelps Investment Management Co., a Virtus Investment Partners affiliate founded in 1932 and headquartered at One Financial Plaza, Hartford, Connecticut 06103, with legal address c/o Corporation Service Company, 251 Little Falls Drive, Wilmington, Delaware 19808. It features a net expense ratio of 1.40%, a 5.50% front-end load for Class A shares, a minimum initial investment of $2,500, and daily pricing, with total net assets of approximately $44-59 million as of late 2025. In recent developments, effective January 21, 2026, Class C shares will cease availability for new or existing shareholders, followed by automatic conversion of existing Class C shares to Class A shares on January 26, 2026, as outlined in the prospectus supplement. The fund completed a merger in June 2021 with Duff & Phelps Select MLP and Midstream Energy Fund Inc., enhancing its structure as an open-end vehicle, though no major acquisitions, funding rounds, partnerships, or product launches have been reported in the last 1-2 years. Portfolio management remains led by David D. Grumhaus, Jr. (President and CIO since 2015) and Rodney C. Clayton, CFA (Portfolio Manager since 2020), with ongoing emphasis on fundamental research amid stable energy sector dynamics.