NGL Energy Partners LP (NGL)

[jugs]

Morgan Stanley, Oppenheimer Funds and Goldman Sachs are three of the very largest unit holders heavily invested in NGL. We are talking about position sizes greater than 3 million units so we're talking about a lot of money here.

You'll find the complete listing of top-level (by size of positions held institutionally) investors by going to your brokerage's NGL listing and clicking "News" This is an important exercise for us retail folks as it clues us in as to where the big money is going, reducing stakes where applicable, and enables us to get a more in-depth understanding as to where name institutions are most confident in outcomes.

Please bear in mind that this bit of very important news reflects activity and status as of the close of business for the month of June and NOT March 31st as I'd earlier supposed. This is meaningful for it means the listing is very much up to date.

Distilling things further, I'm seeing momentum swings from most of the top-tier investors as reflected by significant unit-based adds resulting in larger and fatter stakes. Obviously excitement and confidence in NGL has been growing.