Best and Worst Investments of 2012

By Ben Steverman - 2012-12-12T21:04:13Z

Photograph by Plamen Petkov/Bloomberg

Company Symbol % Change
14 of 18

Best Master Limited Partnership

Calumet Specialty Products Partners

+68%

Master Limited Partnerships, or MLPs, are publicly traded partnerships in the natural resources, commodity or real estate industries. They've attracted investor attention for their generous dividends. Calumet (CLMT), with a dividend yield above 8 percent, is a fast-growing processor of oil into a variety of fuels and other products such as solvents and waxes. It made four acquisitions in 2012 and raised its dividend four times.

Universe and criteria: 75 master limited partnerships listed on U.S. exchanges with market capitalizations of $500 million or more.

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