Among Charlotte, N.C.-based money manager Novare Capital Management's top five equity holdings were three Texas-based energy master limited partnerships, comprising $16.4 million of its total equity holdings, according to a recent SEC filing cited by citibizlist.

Novare's top equity holdings were reportedly valued at $32.17 million in December. A total of 101 holdings valued at $217.69 million were disclosed in the filing, compared with 99 holdings valued at $196.6 million in September. The firm offers fixed-income management services and higher-growth investment.

Exiting fourth-quarter 2010, Novare held some $6.5 million of equity in Enterprise Products Partners LP, Houston, (NYSE: EPD), $5 million in NuStar Energy LP, San Antonio, (NYSE: NS) and approximately $4.94 million in Houston-based Plains All American Pipeline LP (NYSE: PAA).

William Baynard Jr. and co-owner Don Olmstead founded Novare in late 1999. Baynard has 27 years of experience in fixed-income trading and sales, futures trading and stock investment management. Before forming Novare, he spent five years managing the Baymen Group LLC hedge fund, and also worked for 12 years at First Union Capital Markets. Previously, Olmstead was senior vice president at First Union Securities, where he specialized in selling fixed income securities and structured products.

The Portfolio

Enterprise's assets include 49,100 miles of onshore and offshore pipelines; approximately 195 million barrels of storage capacity for NGLs, refined products and crude oil; and 27 billion cubic feet of gas storage capacity.

In December 2010, Enterprise entered 10-year agreements to handle a substantial portion of Oklahoma City-based Chesapeake Energy Corp.'s (NYSE:CHK) liquids-rich Eagle Ford gas production. Enterprise also has long-term commitments with other leading U.S. independents, including Petrohawk, EOG, Anadarko and Pioneer, in the South Texas Eagle Ford.

Last month, Enterprise's operating subsidiary, Enterprise Products Operating LLC, priced a public offering of $750 million of senior unsecured notes due 2016, and $750 million of senior unsecured notes due 2041, or an aggregate of $1.5 billion of senior unsecured notes.J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Deutsche Bank Securities Inc., DnB NOR Markets Inc.,RBS Securities Inc. and Scotia Capital (USA) Inc. were joint book-running managers for the offering.

NuStar owns and operates a total of 8,417 miles of pipeline and 88 terminal and storage facilities that store and distribute crude oil, refined products and specialty liquids. It also owns two asphalt refineries. The partnership's combined system has more than 93 million barrels of storage capacity.

For fourth-quarter 2010, NuStar reported its "highest ever" distributable cash flow available to limited partners of $66.7 million, compared with fourth-quarter distributable cash flow of $57 million in 2009. For year-end 2010, distributable cash flow available to NuStar limited partners was $280.7 million, compared with $311.4 million in 2009, according to its latest quarterly report.

Plains All American Pipeline owns and operates a diversified portfolio of assets that play a vital role in the movement of U.S. and Canadian energy supplies. On average, the partnership handles more than 3 million barrels per day of crude oil, refined products and LPG in North America. Through its general partner interest and majority equity ownership position in PAA Natural Gas Storage LP (NYSE: PNG), Plains is also constructs and operates natural gas storage facilities.

On Jan. 25, Plains revealed plans to expand the capacity of its Basin Pipeline system to provide additional take-away capacity for increased crude oil production in the Permian Basin in West Texas and New Mexico. The Basin Pipeline system moves Permian Basin crude oil from Colorado City, Texas, to Cushing, Oklahoma. The expansion project is expected to increase capacity from 400,000 to 450,000 barrels per day, and is expected to be completed by first-quarter 2012.

Additionally, the partnership recently completed a public offering of $600 million principal amount of 5% senior unsecured notes due Feb. 1, 2021. Proceeds of $592 million were used to pay debt.