TORTOISE CAPITAL ADVISORS, L.L.C.

OVERLAND PARK, KS · CIK 1280965 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2002 · limited liability company

Assets managed$8.9bn
Staff34 · 15 in investment roles
Main clients (by assets)Mutual funds and ETFs 67%, State and local governments 21%, High net worth individuals 6%
Private funds1
Form ADV · 2026-04-30SEC adviser record

Legal entityTORTOISE CAPITAL ADVISORS, L.L.C. (US)

Kindmutual funds, futures
Others nearbyLeawood, KS

As an employer

Offices in1 country
Private fundsother private 1

$9.8bn reported value +2.5% vs Q1 2026

91positions

63.9%in top 10

9 new 45 added 34 reduced 8 sold out vs Q1 2026

This report includes the holdings of 1 other manager that shares the investment decisions:

EXCHANGE TRADED CONCEPTS, LLC – files its own report too; $654.2m of shares are in both

Also in the report of:

EXCHANGE TRADED CONCEPTS, LLC – $654.2m of shares are in both reports
Lee Financial Co – $5.4m of shares are in both reports

Shares in two reports are counted once in each security's totals.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	TARGA RES CORP COM TRGP	TRGP	3,529,491	$946.4m9.62%	9.62%	Reduced -17.3k	-17,270 -0.5%
2	WILLIAMS COS INC COM WMB	WMB	11,248,639	$836.2m8.50%	8.50%	Reduced -250.5k	-250,495 -2.2%
3	ENERGY TRANSFER L P COM UT LTD PTN ET	ET	37,997,055	$726.5m7.39%	7.39%	Reduced -1.5m	-1,465,823 -3.7%
4	CHENIERE ENERGY INC COM NEW LNG	LNG	2,941,182	$703.0m7.15%	7.15%	Added +383.4k	+383,398 15.0%
5	ENTERPRISE PRODS PARTNERS L COM EPD	EPD	18,636,746	$685.1m6.96%	6.96%	Added +3.8m	+3,775,362 25.4%
6	MPLX LP COM UNIT REP LTD MPLX	MPLX	10,500,469	$591.5m6.01%	6.01%	Reduced -2.8m	-2,760,115 -20.8%
7	ONEOK INC NEW COM OKE	OKE	6,343,979	$551.5m5.61%	5.61%	Added +251.3k	+251,320 4.1%
8	TC ENERGY CORP COM TRP	TRP	7,294,330	$483.5m4.92%	4.92%	Reduced -713.3k	-713,336 -8.9%
9	DT MIDSTREAM INC COMMON STOCK DTM	DTM	2,975,967	$436.7m4.44%	4.44%	Reduced -31.6k	-31,592 -1.1%
10	ENBRIDGE INC COM ENB	ENB	5,961,957	$323.2m3.29%	3.29%	Reduced -734.6k	-734,602 -11.0%
11	PLAINS ALL AMERN PIPELINE L UNIT LTD PARTN PAA	PAA	13,603,422	$302.8m3.08%	3.08%	Added +2.8m	+2,810,890 26.0%
12	WESTERN MIDSTREAM PARTNERS L COM UNIT LP INT WES	WES	6,506,154	$284.7m2.89%	2.89%	Reduced -2.3m	-2,273,474 -25.9%
13	PLAINS GP HLDGS L P LTD PARTNR INT A PAGP	PAGP	11,116,796	$269.8m2.74%	2.74%	Reduced -682.3k	-682,302 -5.8%
14	ANTERO MIDSTREAM CORP COM AM	AM	10,183,484	$231.7m2.36%	2.36%	Reduced -975.9k	-975,910 -8.8%
15	PEMBINA PIPELINE CORP COM PBA	PBA	4,623,490	$213.9m2.17%	2.17%	Added +640.5k	+640,542 16.1%
16	HESS MIDSTREAM LP CL A SHS HESM	HESM	4,236,214	$159.3m1.62%	1.62%	Reduced -230.7k	-230,725 -5.2%
17	KINDER MORGAN INC DEL COM KMI	KMI	4,210,122	$134.6m1.37%	1.37%	Reduced -3.6m	-3,643,289 -46.4%
18	ENTERGY CORP NEW COM ETR	ETR	951,677	$109.3m1.11%	1.11%	Added +522.9k	+522,925 122.0%
19	VENTURE GLOBAL INC COM CL A VG	VG	9,559,853	$106.4m1.08%	1.08%	New
20	CONSTELLATION ENERGY CORP COM CEG	CEG	340,376	$84.5m0.86%	0.86%	Reduced -56.4k	-56,413 -14.2%
21	SEMPRA COM SRE	SRE	814,192	$75.5m0.77%	0.77%	Reduced -315.5k	-315,481 -27.9%
22	VISTRA CORP COM VST	VST	424,040	$67.3m0.68%	0.68%	Reduced -52.2k	-52,165 -10.9%
23	CHENIERE ENERGY PARTNERS LP COM UNIT CQP	CQP	1,080,566	$65.9m0.67%	0.67%	Reduced -26.1k	-26,071 -2.4%
24	QUANTA SVCS INC COM PWR	PWR	88,892	$64.0m0.65%	0.65%	Added +77.0k	+76,960 645.0%
25	MASTEC INC COM MTZ	MTZ	143,731	$59.8m0.61%	0.61%	Added +125.4k	+125,391 683.7%
26	NRG ENERGY INC COM NEW NRG	NRG	405,440	$59.2m0.60%	0.60%	Added +10.1k	+10,140 2.6%
27	GE VERNOVA INC COM GEV	GEV	49,201	$57.8m0.59%	0.59%	Added +45.8k	+45,768 1333.2%
28	KODIAK GAS SVCS INC COM KGS	KGS	768,470	$57.7m0.59%	0.59%	Added +42.2k	+42,223 5.8%
29	EVERGY INC COM EVRG	EVRG	614,254	$53.1m0.54%	0.54%	Reduced -653.2k	-653,250 -51.5%
30	SUNOCO LP/SUNOCO FIN CORP COM UT REP LP SUN	SUN	778,973	$52.6m0.53%	0.53%	Reduced -36.5k	-36,525 -4.5%
31	CENTERPOINT ENERGY INC COM CNP	CNP	1,100,699	$48.5m0.49%	0.49%	Added +323.9k	+323,873 41.7%
32	TALEN ENERGY CORP COM TLN	TLN	125,132	$48.1m0.49%	0.49%	Reduced -13.9k	-13,909 -10.0%
33	NISOURCE INC COM NI	NI	992,110	$47.2m0.48%	0.48%	Added +295.9k	+295,913 42.5%
34	EXCELERATE ENERGY INC CL A COM EE	EE	1,166,178	$44.3m0.45%	0.45%	Reduced -17.0k	-16,969 -1.4%
35	AMERICAN ELEC PWR CO INC COM AEP	AEP	308,617	$42.2m0.43%	0.43%	New
36	VALERO ENERGY CORP COM VLO	VLO	158,847	$41.4m0.42%	0.42%	Reduced -8.5k	-8,547 -5.1%
37	MARATHON PETE CORP COM MPC	MPC	161,222	$41.2m0.42%	0.42%	Reduced -8.5k	-8,482 -5.0%
38	EQT CORP COM EQT	EQT	767,234	$40.8m0.41%	0.41%	Added +74.5k	+74,530 10.8%
39	SOUTH BOW CORP COM SOBO	SOBO	943,552	$33.3m0.34%	0.34%	Reduced -16.5k	-16,532 -1.7%
40	VERTIV HOLDINGS CO COM CL A VRT	VRT	96,196	$32.2m0.33%	0.33%	Added +60.3k	+60,290 167.9%
41	MICRON TECHNOLOGY INC COM MU	MU	27,310	$31.5m0.32%	0.32%	Added +4.6k	+4,570 20.1%
42	DTE ENERGY CO COM DTE	DTE	190,541	$29.0m0.30%	0.30%	Added +67.3k	+67,315 54.6%
43	DELL TECHNOLOGIES INC CL C DELL	DELL	62,504	$27.0m0.27%	0.27%	Added +1.3k	+1,252 2.0%
44	SANDISK CORP COM SNDK	SNDK	10,918	$24.8m0.25%	0.25%	Added +6.5k	+6,524 148.5%
45	SOLARIS ENERGY INFRAS INC COM CL A SEI	SEI	293,332	$23.6m0.24%	0.24%	New
46	OCCIDENTAL PETE CORP COM OXY	OXY	477,971	$23.2m0.24%	0.24%	New
47	DIAMONDBACK ENERGY INC COM FANG	FANG	131,944	$23.2m0.24%	0.24%	Added +80.3k	+80,260 155.3%
48	CIENA CORP COM NEW CIEN	CIEN	46,850	$23.0m0.23%	0.23%	Added +21.4k	+21,432 84.3%
49	WESTERN DIGITAL CORP COM WDC	WDC	31,574	$20.2m0.21%	0.21%	Added +3.7k	+3,668 13.1%
50	SEAGATE TECHNOLOGY HLDNGS PL ORD SHS STX	STX	20,722	$20.0m0.20%	0.20%	Added +1.7k	+1,734 9.1%
51	MYR GROUP INC DEL COM MYRG	MYRG	37,758	$18.9m0.19%	0.19%	Added +17.3k	+17,328 84.8%
52	CREDO TECHNOLOGY GROUP HOLDI ORDINARY SHARES CRDO	CRDO	68,512	$18.6m0.19%	0.19%	Added +31.5k	+31,464 84.9%
53	DEVON ENERGY CORP NEW COM DVN	DVN	443,670	$18.3m0.19%	0.19%	Added +273.8k	+273,829 161.2%
54	KINETIK HOLDINGS INC COM NEW CL A KNTK	KNTK	364,543	$17.6m0.18%	0.18%	Reduced -3.3k	-3,298 -0.9%
55	ANTERO RESOURCES CORP COM AR	AR	499,277	$17.5m0.18%	0.18%	Added +133.3k	+133,270 36.4%
56	NVENT ELECTRIC PLC SHS NVT	NVT	101,518	$17.2m0.18%	0.18%	Added +46.5k	+46,512 84.6%
57	OVINTIV INC COM OVV	OVV	318,847	$16.8m0.17%	0.17%	Added +88.7k	+88,697 38.5%
58	INNIO NV ORDINARY SHARES INIO	INIO	365,036	$14.4m0.15%	0.15%	New
59	DYCOM INDS INC COM DY	DY	28,152	$14.2m0.14%	0.14%	Added +15.4k	+15,388 120.6%
60	TERAWULF INC COM WULF	WULF	555,552	$13.7m0.14%	0.14%	Added +255.4k	+255,360 85.1%
61	PHILLIPS 66 COM PSX	PSX	79,224	$13.4m0.14%	0.14%	Reduced -1.5k	-1,519 -1.9%
62	CIPHER MINING INC COM CIFR	CIFR	544,776	$13.3m0.14%	0.14%	Added +250.3k	+250,344 85.0%
63	EXPAND ENERGY CORPORATION COM EXE	EXE	140,470	$12.8m0.13%	0.13%	Reduced -2.7k	-2,706 -1.9%
64	CHEVRON CORP NEW COM CVX	CVX	76,874	$12.7m0.13%	0.13%	Reduced -1.5k	-1,476 -1.9%
65	NEBIUS GROUP N.V. SHS CLASS A NBIS	NBIS	43,304	$12.0m0.12%	0.12%	Added +29.1k	+29,052 203.8%
66	CORE SCIENTIFIC INC NEW COM CORZ	CORZ	453,530	$11.6m0.12%	0.12%	Reduced -653.2k	-653,196 -59.0%
67	MODINE MFG CO COM MOD	MOD	42,990	$11.5m0.12%	0.12%	Added +29.6k	+29,582 220.6%
68	IREN LIMITED ORDINARY SHARES IREN	IREN	233,472	$10.7m0.11%	0.11%	Added +107.2k	+107,160 84.8%
69	HUT 8 CORP COM HUT	HUT	87,866	$10.1m0.10%	0.10%	Added +48.6k	+48,602 123.8%
70	ARISTA NETWORKS INC COM SHS ANET	ANET	56,928	$9.7m0.10%	0.10%	Added +26.0k	+25,992 84.0%
71	HEWLETT PACKARD ENTERPRISE C COM HPE	HPE	203,922	$9.2m0.09%	0.09%	New
72	HALLIBURTON CO COM HAL	HAL	240,167	$8.2m0.08%	0.08%	Reduced -4.6k	-4,633 -1.9%
73	CLEARWAY ENERGY INC CL C CWEN	CWEN	236,351	$8.1m0.08%	0.08%	Reduced -2.3m	-2,345,787 -90.8%
74	AMPHENOL CORP CL A APH	APH	39,686	$7.0m0.07%	0.07%	Added +18.2k	+18,240 85.0%
75	PROPETRO HLDG CORP COM PUMP	PUMP	472,192	$6.8m0.07%	0.07%	Reduced -9.1k	-9,102 -1.9%
76	COHERENT CORP COM COHR	COHR	14,094	$5.6m0.06%	0.06%	Added +6.4k	+6,384 82.8%
77	CATERPILLAR INC COM CAT	CAT	5,036	$5.4m0.05%	0.05%	Added +2.3k	+2,280 82.7%
78	RIOT PLATFORMS INC COM RIOT	RIOT	192,966	$5.3m0.05%	0.05%	New
79	NEXTERA ENERGY INC COM NEE	NEE	52,493	$4.6m0.05%	0.05%	Reduced -1.7k	-1,669 -3.1%
80	COMFORT SYS USA INC COM FIX	FIX	2,320	$4.6m0.05%	0.05%	New
81	LUMENTUM HLDGS INC COM LITE	LITE	5,282	$4.5m0.05%	0.05%	Added +2.3k	+2,280 76.0%
82	WEC ENERGY GROUP INC COM WEC	WEC	36,408	$4.3m0.04%	0.04%	Reduced -116.0k	-115,990 -76.1%
83	APPLIED DIGITAL CORP COM NEW APLD	APLD	110,620	$4.1m0.04%	0.04%	New
84	FERGUSON ENTERPRISES INC COMMON STOCK NEW FERG	FERG	17,143	$4.1m0.04%	0.04%	Reduced -844	-844 -4.7%
85	NVIDIA CORPORATION COM NVDA	NVDA	14,926	$3.0m0.03%	0.03%	Added +6.8k	+6,840 84.6%
86	CUMMINS INC COM CMI	CMI	4,026	$2.9m0.03%	0.03%	Added +1.8k	+1,824 82.8%
87	CELESTICA INC COM CLS	CLS	5,976	$2.2m0.02%	0.02%	Added +2.7k	+2,736 84.4%
88	STANTEC INC COM STN	STN	20,945	$1.4m0.01%	0.01%	Added +3.3k	+3,297 18.7%
89	GLOBAL PARTNERS LP COM UNITS GLP	GLP	27,147	$1.3m0.01%	0.01%	Unchanged
90	NGL ENERGY PARTNERS LP COM UNIT REPST NGL	NGL	68,234	$1.1m0.01%	0.01%	Unchanged
91	GENESIS ENERGY L P UNIT LTD PARTN GEL	GEL	19,393	$274.8k0.00%	0.00%	Unchanged

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
XCEL ENERGY INC XEL	XEL	440,626	$35.0m440.6k shares
CMS ENERGY CORP CMS	CMS	223,947	$17.4m223.9k shares
COTERRA ENERGY INC CTRA	CTRA	403,440	$14.2m403.4k shares
FERMI INC FRMI	FRMI	2,280,837	$13.3m2.3m shares
PRIMORIS SVCS CORP PRIM	PRIM	29,558	$4.2m29.6k shares
SOUTHERN CO SO	SO	42,495	$4.1m42.5k shares
FORGENT POWER SOLUTIONS INC FPS	FPS	62,692	$1.8m62.7k shares
PURE STORAGE INC P	P	24,848	$1.5m24.8k shares