Duff & Phelps Select MLP & Midstream Energy Fund Inc.: insider trades · United States · SEC (Form 4)

About Duff & Phelps Select MLP & Midstream Energy Fund Inc.

Duff & Phelps Select MLP & Midstream Energy Fund Inc. (ticker: DSE) was a U.S.-listed closed-end investment company that historically traded on the NYSE. For investors, it should be understood not as an operating energy business, but as a specialized capital-allocation vehicle focused on North American midstream energy assets. Its mandate centered on master limited partnerships (MLPs) and related infrastructure companies involved in transporting, storing, gathering, and processing crude oil, natural gas, and natural gas liquids. SEC materials identify the fund as a Maryland corporation and a closed-end management investment company, with a principal business address in Greenfield, Massachusetts. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1589756/000110465921051409/tm219606d2_497.htm?utm_source=openai)) From an investment perspective, DSE’s core strategy was to provide targeted exposure to the energy infrastructure segment, rather than to upstream commodity prices. That distinction mattered: midstream businesses typically rely more on throughput volumes, long-term contracts, and fee-based services than on direct exposure to oil and gas prices. The fund’s disclosure documents describe a portfolio concentrated in MLP interests and affiliated or pipeline/infrastructure-related securities selected by Duff & Phelps Investment Management, later part of Virtus. In practice, this made DSE a niche product for income-oriented investors seeking exposure to U.S. energy logistics assets. ([sec.gov](https://www.sec.gov/Archives/edgar/data/1515671/000119312511198634/d497.htm?utm_source=openai)) Historically, the Duff & Phelps / Virtus platform was an important sponsor in listed closed-end funds, and DSE fit that broader franchise. The fund’s portfolio management team was publicly updated in 2020, and Virtus described the lead manager as having run the fund since its inception in 2014, which underscores the continuity of the strategy and the long-running focus on MLPs and midstream infrastructure. That manager continuity was a differentiating factor versus more tactically managed energy products. ([ir.virtus.com](https://ir.virtus.com/news/news-details/2020/Duff--Phelps-Select-MLP-and-Midstream-Energy-Fund-Announces-Changes-to-Portfolio-Management-Team/default.aspx?utm_source=openai)) The most significant recent corporate event was the 2021 reorganization: trading in DSE ceased in preparation for its merger into Virtus Duff & Phelps Select MLP and Energy Fund, an open-end fund. Virtus announced that the merger was completed on June 25, 2021, and that DSE shares converted into an equivalent dollar amount of shares in the surviving fund. As a result, DSE no longer operates as a standalone listed closed-end fund, which is crucial context for any current SEC Form 4 or historical ownership analysis. ([ir.virtus.com](https://ir.virtus.com/news/news-details/2021/Merger-of-Duff--Phelps-Select-MLP-and-Midstream-Energy-Fund-Inc.-Into-Virtus-Duff--Phelps-Select-MLP-and-Energy-Fund-Completed-Share-Conversion-Price-Announced/default.aspx?utm_source=openai)) In terms of competitive positioning, DSE occupied a specialized corner of the U.S. market alongside other listed vehicles targeting energy infrastructure and MLP income. Its appeal came from active selection within a relatively narrow universe, the reputational support of the Duff & Phelps/Virtus platform, and an income-centric midstream mandate. For French, Belgian, and Swiss investors, the key takeaway is that DSE represents a U.S. NYSE-listed energy infrastructure fund with a clearly defined niche, a Massachusetts operating footprint, and a material structural change since the 2021 merger. ([virtus.com](https://www.virtus.com/assets/files/6n1/duff_and_phelps_select_mlp_and_energy_holdings_quarterly.pdf?utm_source=openai))