TORTOISE NORTH AMERICAN PIPE (TPYP) Institutional Ownership Changes & 13F Activity

Frequently asked questions about TPYP activity

• Which institutional owners are buying TPYP?

  Institutional owners buying TPYP include investors who have either initiated new positions or increased their existing holdings based on recent SEC 13F filings. The activity table above highlights which funds added shares in the latest reporting periods and how their positions changed over time.

• What does "buy" mean in TPYP activity?

  "Buy" means an investor increased their reported position in TPYP compared to the prior reporting period. This reflects growing exposure to TORTOISE NORTH AMERICAN PIPE (TPYP) rather than necessarily a brand-new position (though new positions also appear as buys when prior quantity was zero).

• Is institutional interest in TPYP increasing?

  Institutional interest in TPYP can be assessed by comparing the number of tracked funds adding or increasing positions versus those trimming or exiting across the periods shown. A higher number of additions typically signals increasing participation among large filers, but it should be read alongside position sizes and the full table.