Equal-WT
WhaleScore 2.0
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TORTOISE CAPITAL ADVISORS, L.L.C.
OVERLAND PARK KS
Investment Advisor
Hedge Fund
Tortoise Capital Advisors is based out of Overland Park. Tortoise Capital Advisors is a hedge fund with 359 clients and discretionary assets under management (AUM) of $6,906,161,911 (Form ADV from 2024-08-02). Their last reported 13F filing for Q2 2024 included $7,559,022,888 in managed 13F securities
and a top 10 holdings concentration of 67.57%. Tortoise Capital Advisors's largest holding is Targa Resources Inc with shares held of 6,253,729. Whalewisdom has at least 93 13F filings, 2 13D filings, 337 13G filings, and 10 Form 4 filings
Business Description
Tortoise Capital Advisors, L.L.C. (TCA Advisors), also known as Tortoise, was founded in 2002. It is indirectly controlled by Lovell Minnick Partners LLC and is an indirectly wholly owned subsidiary of TortoiseEcofin Investments. TortoiseEcofin Investments indirectly holds multiple wholly owned essential asset SEC registered investment advisers. A vehicle formed by Lovell Minnick and owned by certain private funds sponsored by Lovell Minnick and a group of institutional co-investors owns a controlling interest in TortoiseEcofin Investments. Certain employees in the TortoiseEcofin Investments complex, including substantially all of the Managing Directors and an independent board member of TortoiseEcofin Investments own the remaining interests in TortoiseEcofin Investments.
The day-to-day business of Tortoise is managed by its senior management team. Tortoise does not receive economic benefits from non-clients in connection with giving advice to clients. They may enter into agreements with unaffiliated independent contractors for client referrals, and would compensate the independent contractor with a percentage of fees relating to such referrals based on the level of services performed. Any such compensation would be paid pursuant to a written agreement that is in compliance with the federal regulations, and in each state where state law requires.
Investment Strategy
The investment strategies are primarily fundamentals-based, long-only, with a focus on managing risk, defined as the potential for a permanent loss of capital. The firm utilizes a three-prong approach to portfolio construction consisting of qualitative analysis, quantitative analysis, and relative value. Qualitative analysis involves assessing a company's asset quality, models management, stability of cash flows, and ESG factors. Quantitative analysis employs proprietary financial models to understand growth prospects, liquidity position, and sensitivities to key drivers.
The firm's investment decisions are based on a proprietary model that includes an assessment of qualitative, quantitative, and valuation metrics, as well as various subjective criteria. The portfolio management team meets at least weekly to review portfolio strategy and research impacting portfolio companies. The firm also relies on the assumption that companies, rating agencies, and other publicly available sources of information are providing accurate data.
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 |
|---|---|
| SUN Sunoco LP | 1.01% |
| LNG Cheniere Energy Inc | 0.81% |
| ET Energy Transfer Equi | 0.72% |
| WMB Williams Cos. (The) | 0.31% |
| VST Vistra Energy Corp | 0.29% |
2024-06-30
Top Sells (13F)
| Name | % Change |
|---|---|
| NS Nustar Energy Unit | 1.28% |
| KMI Kinder Morgan Inc. ( | 0.69% |
| AY Atlantica Sustainabl | 0.37% |
| NEP NextEra Energy Partn | 0.36% |
| NEE NextEra Energy Inc. | 0.27% |
2024-06-30
13F Holdings Summary
| Name | $ Change |
|---|---|
| TRGP Targa Resources Inc | 10.65% |
| MPLX MPLX L.P. | 8.35% |
| ET Energy Transfer Equi | 7.87% |
| LNG Cheniere Energy Inc | 7.5% |
| OKE ONEOK Inc. (Oklahoma | 7.33% |
All or part of TORTOISE CAPITAL ADVISORS, L.L.C. 13F disclosures were filed
under a combined 13F through
LEE FINANCIAL COMPANY
for 2024-06-30
for 2024-06-30
2024-06-30
13F Activity
| Market Value | $7.56b, Prior: $7.16b |
| Inflows (Outflows) as % of Total MV | +0.6221% |
| New Purchases | 1 stocks |
| Added To | 30 stocks |
| Sold out of | 4 stocks |
| Reduced holdings in | 32 stocks |
| Top 10 Holdings % | 67.57% |
| Turnover %[1] | 5.88% |
| Turnover Alt %[2] | 4.21% |
| Time Held Top 20 | 24.65 quarters |
| Time Held Top 10 | 19.9 quarters |
| Time Held All | 25.35 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