Tortoise Energy Independence Fund, Inc.
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SCHEDULE OF INVESTMENTS (Unaudited)
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February 28, 2013
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Common Stock - 81.1% (1)
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Shares
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Fair Value
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Natural Gas Pipelines - 2.5% (1)
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United States - 2.5% (1)
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EQT Corporation
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138,100 | $ | 8,712,729 | ||||||
Oil and Gas Production - 78.6% (1)
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Canada - 11.7% (1)
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ARC Resources Ltd.
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334,600 | 8,435,976 | |||||||
Canadian Natural Resources Limited (2)
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191,500 | 5,838,835 | |||||||
Cenovus Energy Inc.
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126,700 | 4,093,677 | |||||||
Crescent Point Energy Corp.
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285,700 | 10,873,915 | |||||||
Enerplus Corporation
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275,800 | 3,739,848 | |||||||
Penn West Petroleum Ltd.
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266,400 | 2,589,408 | |||||||
Suncor Energy Inc.
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183,200 | 5,541,800 | |||||||
The Netherlands - 2.2% (1)
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Royal Dutch Shell plc (ADR)
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114,500 | 7,516,925 | |||||||
United Kingdom - 2.2% (1)
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BP p.l.c. (ADR) (2)
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192,800 | 7,789,120 | |||||||
United States - 62.5% (1)
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Anadarko Petroleum Corporation (2)
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274,100 | 21,812,878 | |||||||
Apache Corporation (2)
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197,500 | 14,668,325 | |||||||
Cabot Oil & Gas Corporation (2)
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90,800 | 5,626,876 | |||||||
Chesapeake Energy Corporation (2)
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521,000 | 10,503,360 | |||||||
Chevron Corporation
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70,400 | 8,247,360 | |||||||
Concho Resources Inc. (2)(3)
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79,900 | 7,187,804 | |||||||
ConocoPhillips
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138,700 | 8,037,665 | |||||||
Continental Resources, Inc. (2)(3)
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222,200 | 19,553,600 | |||||||
Denbury Resources Inc. (2)(3)
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213,800 | 3,874,056 | |||||||
Devon Energy Corporation (2)
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112,000 | 6,077,120 | |||||||
EOG Resources, Inc. (2)
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152,300 | 19,145,633 | |||||||
Hess Corporation (2)
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66,300 | 4,408,950 | |||||||
Marathon Oil Corporation
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280,400 | 9,393,400 | |||||||
Newfield Exploration Company (2)(3)
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120,100 | 2,776,712 | |||||||
Noble Energy, Inc.
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36,400 | 4,034,212 | |||||||
Occidental Petroleum Corporation
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247,000 | 20,335,510 | |||||||
Pioneer Natural Resources Company (2)
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176,800 | 22,243,208 | |||||||
QEP Resources, Inc.
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75,700 | 2,305,822 | |||||||
Range Resources Corporation (2)
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208,300 | 15,997,440 | |||||||
Southwestern Energy Company (2)(3)
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120,800 | 4,139,816 | |||||||
Whiting Petroleum Corporation (2)(3)
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165,000 | 8,035,500 | |||||||
274,824,751 | |||||||||
Total Common Stock (Cost $278,502,584)
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283,537,480 | ||||||||
Master Limited Partnerships and Related Companies - 33.6% (1)
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Crude/Refined Products Pipelines - 7.7% (1)
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United States - 7.7% (1)
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Enbridge Energy Management, L.L.C. (4)(5)
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396,530 | 10,837,166 | |||||||
Magellan Midstream Partners, L.P. (4)
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75,000 | 3,762,000 | |||||||
MPLX LP (4)
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117,232 | 3,832,314 | |||||||
Plains All American Pipeline, L.P. (4)
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95,100 | 5,206,725 | |||||||
Rose Rock Midstream, L.P.
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32,489 | 1,104,626 | |||||||
Tesoro Logistics LP (4)
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47,000 | 2,345,300 | |||||||
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27,088,131 | ||||||||
Natural Gas/Natural Gas Liquids Pipelines - 8.9% (1)
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United States - 8.9% (1)
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Energy Transfer Partners, L.P. (4)
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180,800 | 8,662,128 | |||||||
Enterprise Products Partners L.P. (4)
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37,500 | 2,125,125 | |||||||
Kinder Morgan Management, LLC (4)(5)
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136,662 | 11,319,753 | |||||||
Regency Energy Partners LP (4)
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252,300 | 6,002,217 | |||||||
Williams Partners L.P. (4)
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57,300 | 2,847,810 | |||||||
30,957,033 | |||||||||
Natural Gas Gathering/Processing - 3.5% (1)
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United States - 3.5% (1)
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Access Midstream Partners, L.P. (4)
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58,900 | 2,193,436 | |||||||
DCP Midstream Partners, LP (4)
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89,300 | 3,628,259 | |||||||
Southcross Energy Partners, L.P. (4)
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45,076 | 1,032,691 | |||||||
Targa Resources Partners LP (4)
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74,800 | 3,081,012 | |||||||
Western Gas Equity Partners, LP (4)
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70,627 | 2,399,199 | |||||||
12,334,597 | |||||||||
Oil and Gas Production — 13.5%(1)
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United States — 13.5%(1)
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BreitBurn Energy Partners L.P. (4)
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513,200 | 9,981,740 | |||||||
EV Energy Partners, L.P. (4)
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131,862 | 7,385,591 | |||||||
Legacy Reserves, L.P. (4)
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201,800 | 5,323,484 | |||||||
Linn Energy, L.L.C. (4)
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300,200 | 11,410,602 | |||||||
Pioneer Southwest Energy Partners L.P. (4)
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307,700 | 7,237,104 | |||||||
Vanguard Natural Resources, LLC (4)
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212,100 | 5,898,501 | |||||||
47,237,022 | |||||||||
Total Master Limited Partnerships and Related Companies (Cost $112,914,017)
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117,616,783 | ||||||||
Short-Term Investment - 0.1% (1)
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United States Investment Company - 0.1% (1)
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Fidelity Institutional Money Market Portfolio - Class I, 0.12% (6) (Cost $144,872)
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144,872 | 144,872 | |||||||
Total Investments - 114.8% (1) (Cost $391,561,473)
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401,299,135 | ||||||||
Total Value of Options Written (Premiums received $1,410,157) - (0.4%) (1)
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(1,293,543 | ) | |||||||
Other Assets and Liabilities - (14.4%) (1)
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(50,335,950 | ) | |||||||
Total Net Assets Applicable to Common Stockholders - 100.0% (1)
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$ | 349,669,642 | |||||||
(1)
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Calculated as a percentage of net assets applicable to common stockholders.
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(2)
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All or a portion of the security represents cover for outstanding call option contracts written.
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(3)
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Non-income producing security.
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(4)
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All or a portion of the security is segregated as collateral for the margin borrowing facility.
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(5)
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Security distributions are paid-in-kind.
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(6)
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Rate indicated is the current yield as of February 28, 2013.
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Key to abbreviation
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ADR = American Depository Receipts
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Tortoise Energy Independence Fund, Inc.
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SCHEDULE OF OPTIONS WRITTEN (Unaudited)
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February 28, 2013
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Call Options Written
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Expiration Date
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Strike Price
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Contracts
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Fair Value
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Anadarko Petroleum Corporation
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March 2013
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$ | 87.50 | 1,356 | $ | (31,188 | ) | ||||
Anadarko Petroleum Corporation
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March 2013
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90.00 | 1,385 | (15,235 | ) | ||||||
Apache Corporation
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March 2013
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82.50 | 1,975 | (7,900 | ) | ||||||
BP p.l.c. (ADR)
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March 2013
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44.00 | 964 | (8,676 | ) | ||||||
BP p.l.c. (ADR)
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March 2013
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45.00 | 964 | (5,784 | ) | ||||||
Cabot Oil & Gas Corporation
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March 2013
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60.00 | 908 | (243,344 | ) | ||||||
Canadian Natural Resources Limited
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March 2013
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32.00 | 1,915 | (38,300 | ) | ||||||
Chesapeake Energy Corporation
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March 2013
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22.00 | 5,210 | (52,100 | ) | ||||||
Concho Resources Inc.
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March 2013
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100.00 | 753 | (7,530 | ) | ||||||
Concho Resources Inc.
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March 2013
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105.00 | 46 | (690 | ) | ||||||
Continental Resources, Inc.
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March 2013
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90.00 | 2,222 | (211,090 | ) | ||||||
Denbury Resources Inc.
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March 2013
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20.00 | 2,138 | (10,690 | ) | ||||||
Devon Energy Corporation
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March 2013
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65.00 | 1,120 | (2,240 | ) | ||||||
EOG Resources, Inc.
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March 2013
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140.00 | 1,064 | (8,512 | ) | ||||||
EOG Resources, Inc.
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March 2013
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145.00 | 459 | (2,754 | ) | ||||||
Hess Corporation
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March 2013
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72.50 | 663 | (13,923 | ) | ||||||
Newfield Exploration Company
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March 2013
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29.00 | 1,201 | (3,603 | ) | ||||||
Pioneer Natural Resources Company
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March 2013
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140.00 | 1,768 | (26,520 | ) | ||||||
Range Resources Corporation
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March 2013
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75.00 | 1,797 | (521,130 | ) | ||||||
Range Resources Corporation
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March 2013
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77.50 | 286 | (38,610 | ) | ||||||
Southwestern Energy Company
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March 2013
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36.00 | 1,208 | (33,824 | ) | ||||||
Whiting Petroleum Corporation
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March 2013
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55.00 | 1,650 | (9,900 | ) | ||||||
Total Value of Call Options Written (Premiums received $1,410,157)
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$ | (1,293,543 | ) | ||||||||
Key to abbreviation
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ADR = American Depository Receipts
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Description
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Fair Value at
February 28, 2013
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Level 1
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Level 2
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Level 3
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Assets
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Equity Securities:
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Common Stock (a)
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$ | 283,537,480 | $ | 283,537,480 | $ | - | $ | - | |||||
Master Limited Partnerships and Related Companies(a)
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117,616,783 | 117,616,783 | - | - | |||||||||
Total Equity Securities
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401,154,263 | 401,154,263 | - | - | |||||||||
Other:
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Short-Term Investment(b)
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144,872 | 144,872 | - | - | |||||||||
Total Assets
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$ | 401,299,135 | $ | 401,299,135 | $ | - | $ | - | |||||
Liabilities
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Written Call Options
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$ | 1,293,543 | $ | 1,293,543 | $ | - | $ | - |
(a)
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All other industry classifications are identified in the Schedule of Investments.
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(b)
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Short-term investment is a sweep investment for cash balances in the Company at February 28, 2013.
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(a)
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The registrant’s Chief Executive Officer and its Chief Financial Officer have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940 (the “1940 Act”)) are effective as of a date within 90 days of the filing date of this report, based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended.
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(b)
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There was no change in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant's last fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting.
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Tortoise Energy Independence Fund, Inc. | |||
Date: April 23, 2013
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By:
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/s/ Terry Matlack | |
Terry Matlack | |||
Chief Executive Officer | |||
Tortoise Energy Independence Fund, Inc. | |||
Date: April 23, 2013
|
By:
|
/s/ Terry Matlack | |
Terry Matlack | |||
Chief Executive Officer | |||
Tortoise Energy Independence Fund, Inc. | |||
Date: April 23, 2013
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By:
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/s/ P. Bradley Adams | |
P. Bradley Adams | |||
Chief Financial Officer | |||