Energy Income Partners provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, and portfolio management for institutions. The firm advises 2 private funds.
Energy Income Partners reports 112 clients. They include 89 high-net-worth individuals, 6 other investment advisers and 5 investment companies. Of its assets, 100.0% ($6.06B across 108 accounts) are managed with discretion. It advised 4 clients without assets under management last fiscal year.
| Client type | Clients | Assets |
|---|---|---|
| Individuals (other than HNW) | 0% | 0% |
| High-net-worth individuals | 79% | 3% |
| Banking or thrift institutions | 0% | 0% |
| Investment companies | 4% | 84% |
| Pooled investment vehicles | 2% | 4% |
| Other client typesPension and profit-sharing plans; Charitable organizations; State or municipal government entities; Other investment advisers; Insurance companies; Sovereign wealth funds and foreign official institutions; Corporations and other businesses | 14% | 9% |
Client breakdown and activity details
| Client type | Clients | Regulatory AUM | AUM share | Avg. per client |
|---|---|---|---|---|
| Individuals (other than HNW) | Fewer than 5 | $0 | 0.0% | — |
| High-net-worth individuals | 89 | $176M | 2.9% | $1.97M |
| Banking or thrift institutions | Fewer than 5 | $0 | 0.0% | — |
| Investment companies | 5 | $5.12B | 84.4% | $1.02B |
| Pooled investment vehicles | 2 | $225M | 3.7% | $113M |
| Pension and profit-sharing plans | 4 | $31.8M | 0.5% | $7.95M |
| Charitable organizations | Fewer than 5 | $0 | 0.0% | — |
| State or municipal government entities | Fewer than 5 | $0 | 0.0% | — |
| Other investment advisers | 6 | $478M | 7.9% | $79.6M |
| Insurance companies | Fewer than 5 | $3.97M | 0.1% | $3.97M |
| Sovereign wealth funds and foreign official institutions | Fewer than 5 | $0 | 0.0% | — |
| Corporations and other businesses | 5 | $30.7M | 0.5% | $6.15M |
| Total | 112 | $6.06B | 100% | — |
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 89
- Regulatory AUM
- $176M
- AUM share
- 2.9%
- Avg. per client
- $1.97M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 5
- Regulatory AUM
- $5.12B
- AUM share
- 84.4%
- Avg. per client
- $1.02B
- Clients
- 2
- Regulatory AUM
- $225M
- AUM share
- 3.7%
- Avg. per client
- $113M
- Clients
- 4
- Regulatory AUM
- $31.8M
- AUM share
- 0.5%
- Avg. per client
- $7.95M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 6
- Regulatory AUM
- $478M
- AUM share
- 7.9%
- Avg. per client
- $79.6M
- Clients
- Fewer than 5
- Regulatory AUM
- $3.97M
- AUM share
- 0.1%
- Avg. per client
- $3.97M
- Clients
- Fewer than 5
- Regulatory AUM
- $0
- AUM share
- 0.0%
- Avg. per client
- —
- Clients
- 5
- Regulatory AUM
- $30.7M
- AUM share
- 0.5%
- Avg. per client
- $6.15M
Total
- Clients
- 112
- Regulatory AUM
- $6.06B
- AUM share
- 100%
- Avg. per client
- —
- Clients outside the U.S.
- 0%
- Clients advised without assets under management last fiscal year
- 4
- Private funds advised
- 2
- Financial planning clients last fiscal year
- 0
Energy Income Partners is paid through a percentage of assets under management and performance-based fees; its fees and minimums are set out in its brochures on the SEC website.
Duntrune Capital Partners, LLC owns 25% to 50% of Energy Income Partners and is in turn owned by James Murchie (50–75%) and JJM Family Trust (25–50%). The leadership team of Energy Income Partners includes Chief Compliance Officer Nandita Hogan. It has 21 employees, 8 of them in advisory roles.
Leadership
- Nandita HoganChief Compliance Officer
Saul BallesterosPortfolio Manager, Partner
Eva PaoPortfolio Manager, Partner
John TysselandPortfolio Manager, Partner
Investment adviser representatives
1 representatives listed in the SEC register as of 9 October 2026.
Staff
- 21 employees
- 8 in advisory functions
- 1 state-registered rep
- 2 broker-dealer reps
- 1 soliciting firm
- Owns 25% to 50% of Energy Income Partners LLC
Duntrune Capital Partners, LLC
Control person · since July 2006
- Owns 50% to 75% of Duntrune Capital Partners, LLC
James Murchie
Control person · since July 2006
- Owns 25% to 50% of Duntrune Capital Partners, LLC
JJM Family Trust
since December 2019
- Owns 10% to 25% of Energy Income Partners LLC
FT Eip Ventures, LLC
since June 2010
- Owns 75% or more of FT Eip Ventures, LLC
First Trust Capital Partners, LLC
Control person · since June 2010
- Owns 75% or more of First Trust Capital Partners, LLC
Grace Partners of Dupage, L.P.
Control person · since August 1991
The Charger Corporation
Member, manager · Control person · since June 2007
- Owns 75% or more of The Charger Corporation
Ajm Ventures LLC
Control person · since October 2010
- Owns 75% or more of Ajm Ventures LLC
James Bowen
Control person · since October 2010
- Owns 10% to 25% of Energy Income Partners LLC
Eip EP LLC
since January 2013
- Owns 50% to 75% of Eip EP LLC
Eva Pao
Control person · since January 2013
- Owns 25% to 50% of Eip EP LLC
Douglas Cullen
since January 2013
- Owns 5% to 10% of Energy Income Partners LLC
Saul Ballesteros
Control person · since December 2025
- Owns 5% to 10% of Energy Income Partners LLC
John Tysseland
Control person · since May 2016
Energy Income Partners’ regulatory assets grew 1.7× from $3.67B (April 2021) to $6.06B (May 2026); clients fell from 209 to 112 and employees rose from 20 to 21.
Figures from each annual filing
| Filed | Regulatory AUM | Clients | Employees | Offices |
|---|---|---|---|---|
| May 2026 | $6.06B | 112 | 21 | 1 |
| March 2025 | $5.36B | 121 | 19 | 1 |
| March 2024 | $4.8B | 143 | 19 | 1 |
| March 2023 | $5.14B | 150 | 20 | 1 |
| March 2022 | $4.53B | 159 | 20 | 1 |
| April 2021 | $3.67B | 209 | 20 | 1 |
Besides its headquarters, Energy Income Partners has 0 offices, with 1 listed address in Connecticut.
Connecticut · 1 listed address
- 10 Wright Street, WestportHQ
Contact and registration details
- Legal name
- Energy Income Partners LLC
- Headquarters
- 10 Wright Street, Westport, CT 06880-3115
- Website
- eipinvestments.com
- Phone
- 203-349-8232
- @energy-income-partners-llc
- SEC file
- 801-66907
- Structure
- Delaware LLC
- Fiscal year end
- December
Energy Income Partners uses Fidelity ($353M, 60%), The Glenmede Trust Company, N.A. ($118M, 20%) and Morgan Stanley ($114M, 19%) as custodians for its separately managed accounts. Energy Income Partners has custody of $225M in client assets for 2 clients.
- Morgan StanleyMorgan Stanley Smith Barney LLC · New York, NY · $114M19%
- FidelityFidelity Brokerage Services LLC · Smithfield, RI · $353M60%
- The Glenmede Trust Company, N.A.The Glenmede Trust Company, N.A. · Philadelphia, PA · $118M20%
At year end, Energy Income Partners’ separately managed accounts were mostly in stocks (97%). Its reported 13F holdings for the quarter ended 30 June 2026 total $6.36B across 88 positions; the largest are Enterprise Prods Partners L (8.0%), Energy Transfer LP (7.7%) and Mplx LP (4.8%).
What the accounts hold
- Stocks97%
- Cash3%
Reported 13F holdings
- $6.36B
- Reported 13F value
- 88
- Positions
- 40.9%
- In the 10 largest
- +2.3%
- Value vs. prior quarter
- Enterprise Prods Partners L8.0%
- Energy Transfer LP · Com UT Ltd Ptn7.7%
- Mplx LP4.8%
- Kinder Morgan Inc. Del3.8%
- National Fuel Gas CO3.6%
- Plains GP Hldgs L P · Ltd Partnr Int A3.5%
- Southern CO2.6%
- Oneok Inc. New2.4%
- Entergy Corp. New2.3%
- PPL Corp.2.2%
Together, the ten largest are 40.9% of reported value.
How many clients does Energy Income Partners have?
Energy Income Partners has 112 clients and manages $6.06 billion for them, as of May 2026. They include 89 high-net-worth individuals, 6 other investment advisers and 5 investment companies.
Source: Form ADV Part 1A, Items 5.D and 5.F, filed 13 May 2026
What services does Energy Income Partners offer?
Energy Income Partners provides portfolio management for individuals and small businesses, portfolio management for investment companies, portfolio management for pooled vehicles, and portfolio management for institutions.
Source: Form ADV Part 1A, Item 5.G, from the SEC's 2 October 2026 data file
Which custodians does Energy Income Partners use?
Energy Income Partners’ separately managed account assets are held at Fidelity Brokerage Services LLC (Smithfield, RI), with $353M, The Glenmede Trust Company, N.A. (Philadelphia, PA), with $118M and Morgan Stanley Smith Barney LLC (New York, NY), with $114M. Only custodians holding at least a tenth of those assets are named.
Source: Form ADV Part 1A, Schedule D, Section 5.K.(3), filed 13 May 2026
How many financial advisors does Energy Income Partners have?
Energy Income Partners has 1 investment adviser representative registered with state securities authorities, out of 21 employees, and 8 perform investment advisory functions. 2 employees are registered representatives of a broker-dealer and 0 employees are licensed insurance agents.
Source: Form ADV Part 1A, Items 5.A and 5.B, from the SEC's 2 October 2026 data file
What does Energy Income Partners invest in?
At the end of its last fiscal year, Energy Income Partners’ separately managed accounts held 97% exchange-traded equities and 3% cash and equivalents. It advises 2 private funds.
Source: Form ADV Part 1A, Items 5.K.(1) and 7.B, from the SEC's 2 October 2026 data file
Who owns Energy Income Partners?
Energy Income Partners is owned through a chain of holding companies by James Murchie, Grace Partners of Dupage, L.P., James Bowen, Douglas Cullen, Eva Pao and JJM Family Trust. Its direct owners are Duntrune Capital Partners, LLC, Saul Ballesteros, FT Eip Ventures, LLC, Eip EP LLC and John Tysseland, each holding 50% or less.
Source: Form ADV Part 1A, Schedules A and B, filed 13 May 2026
How does Energy Income Partners get paid?
Energy Income Partners is paid through a percentage of assets under management and performance-based fees. Its Form ADV lists no commissions among how it is paid.
Source: Form ADV Part 1A, Item 5.E, from the SEC's 2 October 2026 data file
How do I contact Energy Income Partners?
Energy Income Partners’ main office is at 10 Wright Street, Westport, CT 06880-3115. Its phone number is 203-349-8232. Its website is eipinvestments.com.