Salient Capital Advisors, LLC
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Portfolio style
Measured from the filed 13F common-share book for Sep 30, 2022, never from the firm's own description.
Closest benchmark: the S&P MidCap 400 as of 2022-09-30, active share 98.4%; sector active share 89.7% against the combined 13F book's sector weights.
Over time 11 measured quarters
How the bands are measured
Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.
Clone Performance
Build a hypothetical price-return history from this filer's public 13F holdings.
View clone backtestPortfolio Concentration
42 tracked positions · as of Sep 30, 2022 · Δ vs Jun 30, 2022Portfolio Trend
Sector Breakdown
As of Sep 30, 2022| Sector | % Portfolio | Value |
|---|---|---|
| Energy | 93.4% | $1,478,730,168 |
| Unclassified | 5.1% | $81,457,000 |
| Technology | 1.0% | $15,695,588 |
| Industrials | 0.4% | $6,425,793 |
| Utilities | 0.1% | $1,377,837 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| — | +2,217,880 | 7,992,439 | $0 | ||
| KMI | Kinder Morgan, Inc. | +1,764,086 | 6,853,399 | $114,040,559 | |
| AM | Antero Midstream Corp | +969,844 | 3,615,234 | $33,187,848 | |
| — | +699,406 | 1,472,920 | $0 | ||
| DTM | DT Midstream, Inc. | +299,082 | 402,589 | $20,890,343 | |
| WMB | Williams Companies, Inc. | +255,071 | 3,617,942 | $103,581,679 | |
| EE | Excelerate Energy, Inc. | +83,794 | 313,438 | $7,334,449 | |
| MMLP | Martin Midstream Partners L.P. | +68,146 | 112,612 | $382,880 | |
| ARRY | Array Technologies, Inc. | +59,585 | 88,789 | $1,472,121 | |
| TRGP | Targa Resources Corp. | +51,969 | 2,751,338 | $166,015,734 | |
| GEL | Genesis Energy LP | +47,221 | 1,115,963 | $10,266,859 | |
| SEDG | Solaredge Technologies, Inc. | +19,935 | 28,055 | $6,493,610 | |
| CQP | Cheniere Energy Partners, L.P. | +1,083 | 6,274 | $334,780 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| PAGP | Plains Gp Holdings LP | −1,493,062 | 3,109,088 | $33,920,150 | |
| — | −1,469,303 | 1,681,793 | $0 | ||
| ET | Energy Transfer LP | −1,423,549 | 17,072,316 | $188,308,000 | |
| PAA | Plains All American Pipeline LP | −794,310 | 3,325,672 | $34,986,069 | |
| — | −617,473 | 4,626,153 | $41,126,000 | ||
| ENB | Enbridge Inc | −612,611 | 1,715,273 | $63,636,628 | |
| — | −568,575 | 278,713 | $0 | ||
| — | −510,331 | 34,497 | $0 | ||
| PBA | Pembina Pipeline Corp | −486,902 | 3,215,386 | $97,651,272 | |
| — | −436,143 | 4,699,634 | $0 | ||
| MPLX | Mplx LP | −418,741 | 2,062,881 | $61,907,058 | |
| EPD | Enterprise Products Partners L.P. | −407,591 | 5,583,004 | $132,763,835 | |
| LNG | Cheniere Energy, Inc. | −229,932 | 1,277,874 | $212,012,075 | |
| WES | Western Midstream Partners, LP | −209,037 | 2,026,840 | $50,995,294 | |
| OKE | Oneok Inc | −128,852 | 1,604,119 | $82,195,057 | |
| HESM | Hess Midstream LP | −115,802 | 507,123 | $12,941,778 | |
| — | −78,810 | 836,631 | $39,748,000 | ||
| TRP | Tc Energy Corp | −63,623 | 1,257,124 | $50,649,525 | |
| XIFR | XPLR Infrastructure, LP | −27,036 | 10,483 | $758,025 | |
| NEXT | NextDecade Corp | −11,099 | 23,711 | $142,740 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| RUN | Sunrun Inc. | 210,793 | $5,815,778 | |
| PLUG | Plug Power Inc | 259,996 | $5,462,515 | |
| FSLR | First Solar, Inc. | 14,471 | $1,914,079 | |
| BE | Bloom Energy Corp | 48,188 | $963,278 | |
| — | 35,524 | $583,000 | ||
| NEE | Nextera Energy Inc | 5,311 | $416,435 | |
| USAC | USA Compression Partners, LP | 20,161 | $350,801 | |
| SUN | Sunoco LP | 6,024 | $234,755 | |
| AES | Aes Corp | 8,999 | $203,377 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| ENPH | Enphase Energy, Inc. | 47,663 | $9,305,724 | |
| KNTK | Kinetik Holdings Inc. | 231,508 | $7,903,683 | |
| MVST | Microvast Holdings, Inc. | 1,529,800 | $3,396,156 | |
| — | 203,438 | $2,862,000 | ||
| — | 40,000 | $799,000 | ||
| — | 80,000 | $793,000 | ||
| — | 70,800 | $703,000 | ||
| — | 70,000 | $690,000 | ||
| — | 70,000 | $688,000 | ||
| — | 70,000 | $687,000 | ||
| — | 68,043 | $667,000 | ||
| — | 63,923 | $628,000 | ||
| — | 25,000 | $614,000 | ||
| SHLS | Shoals Technologies Group, Inc. | 36,966 | $609,199 | |
| — | 50,000 | $496,000 | ||
| — | 50,000 | $496,000 | ||
| — | 50,000 | $494,000 | ||
| SHEL | Shell plc | 7,633 | $399,129 | |
| — | 40,000 | $393,000 | ||
| VLO | Valero Energy Corp | 3,661 | $389,091 | |
| PSX | Phillips 66 | 4,693 | $384,779 | |
| VCKA | Scilex Holding Co | 35,000 | $358,000 | |
| — | 34,600 | $344,000 | ||
| — | 25,700 | $258,000 | ||
| — | 26,000 | $258,000 | ||
| No positions match the current search. | ||||
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| LNG |
Cheniere Energy, Inc.
Energy
|
Reduced | 1,277,874 | $212,012,075 | 13.39% | |
| ET |
Energy Transfer LP
Energy
|
Reduced | 17,072,316 | $188,308,000 | 11.89% | |
| TRGP |
Targa Resources Corp.
Energy
|
Added | 2,751,338 | $166,015,734 | 10.48% | |
| EPD |
Enterprise Products Partners L.P.
Energy
|
Reduced | 5,583,004 | $132,763,835 | 8.38% | |
| KMI |
Kinder Morgan, Inc.
Energy
|
Added | 6,853,399 | $114,040,559 | 7.20% | |
| WMB |
Williams Companies, Inc.
Energy
|
Added | 3,617,942 | $103,581,679 | 6.54% | |
| PBA |
Pembina Pipeline Corp
Energy
|
Reduced | 3,215,386 | $97,651,272 | 6.17% | |
| OKE |
Oneok Inc
Energy
|
Reduced | 1,604,119 | $82,195,057 | 5.19% | |
| ENB |
Enbridge Inc
Energy
|
Reduced | 1,715,273 | $63,636,628 | 4.02% | |
| MPLX |
Mplx LP
Energy
|
Reduced | 2,062,881 | $61,907,058 | 3.91% | |
| WES |
Western Midstream Partners, LP
Energy
|
Reduced | 2,026,840 | $50,995,294 | 3.22% | |
| TRP |
Tc Energy Corp
Energy
|
Reduced | 1,257,124 | $50,649,525 | 3.20% | |
|
|
Reduced | 4,626,153 | $41,126,000 | 2.60% | ||
|
|
Reduced | 836,631 | $39,748,000 | 2.51% | ||
| PAA |
Plains All American Pipeline LP
Energy
|
Reduced | 3,325,672 | $34,986,069 | 2.21% | |
| PAGP |
Plains Gp Holdings LP
Energy
|
Reduced | 3,109,088 | $33,920,150 | 2.14% | |
| AM |
Antero Midstream Corp
Energy
|
Added | 3,615,234 | $33,187,848 | 2.10% | |
| DTM |
DT Midstream, Inc.
Energy
|
Added | 402,589 | $20,890,343 | 1.32% | |
| HESM |
Hess Midstream LP
Energy
|
Reduced | 507,123 | $12,941,778 | 0.82% | |
| GEL |
Genesis Energy LP
Energy
|
Added | 1,115,963 | $10,266,859 | 0.65% | |
| EE |
Excelerate Energy, Inc.
Energy
|
Added | 313,438 | $7,334,449 | 0.46% | |
| SEDG |
Solaredge Technologies, Inc.
Technology
|
Added | 28,055 | $6,493,610 | 0.41% | |
| RUN |
Sunrun Inc.
Technology
|
NEW | 210,793 | $5,815,778 | 0.37% | |
| PLUG |
Plug Power Inc
Industrials
|
NEW | 259,996 | $5,462,515 | 0.34% | |
| FSLR |
First Solar, Inc.
Technology
|
NEW | 14,471 | $1,914,079 | 0.12% | |
| ARRY |
Array Technologies, Inc.
Technology
|
Added | 88,789 | $1,472,121 | 0.09% | |
| BE |
Bloom Energy Corp
Industrials
|
NEW | 48,188 | $963,278 | 0.06% | |
| XIFR |
XPLR Infrastructure, LP
Utilities
|
Reduced | 10,483 | $758,025 | 0.05% | |
|
|
NEW | 35,524 | $583,000 | 0.04% | ||
| NEE |
Nextera Energy Inc
Utilities
|
NEW | 5,311 | $416,435 | 0.03% | |
| MMLP |
Martin Midstream Partners L.P.
Energy
|
Added | 112,612 | $382,880 | 0.02% | |
| USAC |
USA Compression Partners, LP
Energy
|
NEW | 20,161 | $350,801 | 0.02% | |
| CQP |
Cheniere Energy Partners, L.P.
Energy
|
Added | 6,274 | $334,780 | 0.02% | |
| SUN |
Sunoco LP
Energy
|
NEW | 6,024 | $234,755 | 0.01% | |
| AES |
Aes Corp
Utilities
|
NEW | 8,999 | $203,377 | 0.01% | |
| NEXT |
NextDecade Corp
Energy
|
Reduced | 23,711 | $142,740 | 0.01% | |
|
|
Reduced | 278,713 | $0 | 0.00% | ||
|
|
Reduced | 34,497 | $0 | 0.00% | ||
|
|
Reduced | 1,681,793 | $0 | 0.00% | ||
|
|
Added | 1,472,920 | $0 | 0.00% | ||
|
|
Added | 7,992,439 | $0 | 0.00% | ||
|
|
Reduced | 4,699,634 | $0 | 0.00% |
Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.