Equal-WT
WhaleScore 2.0
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Heronetta Management is based out of New York. Heronetta Management is a hedge fund with 30 clients and discretionary assets under management (AUM) of $265,835,137 (Form ADV from 2024-03-22). Their last reported 13F filing for Q2 2024 included $156,331,394 in managed 13F securities
and a top 10 holdings concentration of 75.2%. Heronetta Management's largest holding is Enterprise Products Partners LP with shares held of 574,048. Whalewisdom has at least 47 13F filings
Business Description
Heronetta Management, L.P. ("Heronetta") is an investment advisory firm headquartered in New York, NY. It was established in December 2007 by Henry R. Breck, who owns the majority of the firm.
There have been no material changes since Heronetta's last annual update on March 25, 2022. You can reach Heronetta's Chief Compliance Officer, Jeffrey J. Scott, at (212) 601-5333 if you have any questions about the contents of this brochure.
Investment Strategy
Heronetta's investment strategy focuses on midstream investments, primarily in pipelines, terminals, and storage facilities, with some participation in gathering and processing. They prioritize investments in companies with reliable distributions, strong growth rates, attractive current yields, and high credit quality. The strategy emphasizes consistent growth and quality income streams, aiming to build portfolios of 10-20 investments.
Heronetta operates in a highly competitive market, facing competition from various entities including business development companies, public and private funds, private equity and hedge funds, and commercial and investment banks. These competitors may have lower costs of funds, greater access to capital, and access to funding sources unavailable to Heronetta's clients. This competitive landscape poses a potential risk to Heronetta's strategy, as it may limit the number of investment opportunities available and impact the terms of investments.
Owners
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Known Email Addresses
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Other Contact Information
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2024-06-30
Top Buys (13F)
| Name | % Change |
|---|---|
| WES Western Midstream Pa | 0.59% |
| MPLX MPLX L.P. | 0.18% |
| ENB Enbridge, Inc. (Inte | 0.16% |
| TAC TransAlta Corp. ADR | 0.1% |
| PAGP Plains GP Holdings L | 0.07% |
2024-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| CNQ Canadian Natural Res | 0.92% |
2024-06-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| EPD Enterprise Products | 10.64% |
| MPLX MPLX L.P. | 9.76% |
| ET Energy Transfer Equi | 9.25% |
| OKE ONEOK Inc. (Oklahoma | 8.19% |
| WMB Williams Cos. (The) | 7.54% |
2024-06-30
13F Activity
| Market Value | $156m, Prior: $155m |
| Inflows (Outflows) as % of Total MV | +0.053% |
| New Purchases | 0 stocks |
| Added To | 6 stocks |
| Sold out of | 0 stocks |
| Reduced holdings in | 1 stocks |
| Top 10 Holdings % | 75.2% |
| Turnover %[1] | 0% |
| Turnover Alt %[2] | 0.52% |
| Time Held Top 20 | 26.65 quarters |
| Time Held Top 10 | 20.2 quarters |
| Time Held All | 27.57 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2024-06-30
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2024-06-30
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2024-06-30