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A significant part of my holdings to provide steady income with major tax advantages and growth. These are long-term holdings for me. Have ahd 5+ years now and am very pleased with their performance. My MLPs are all in the energy field -- mostly midstream infrastructure plays -- oil terminals, pipelines, etc. (do not drill for or own oil, gas, etc) . Thus prices do not track commodity prices or the stock market in general -- thus are a good portfolio balancer. Are sensitive to interest rates as they borrow most of the capital they need to grow. All pay significant dividends (6-9%) and most show steady growth in both price and dividend. Shares are bought and sold via the stock exchange just as you would ordinary equities. As partnerships their tax implications are quite different from stocks. Most (80-90%) of dividends are treated as return of capital and thus are not taxed until you sell your shares -- and then are used to reduce the basis of the shares and thus are treated as capital gains. As partners (owners) you also get the benefit of the tax advantages of the company (depreciation allownances, foreign tax credits, etc.) They can be messy at tax time, but Turbo Tax handles it well. You will want to own these in a taxable account, not suitable for tax deferred accounts.

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