Tortoise Investment Management, LLC

CIK

1599511

Location

WHITE PLAINS, NY

Portfolio Value

Mid $1,009,431,132

Diversification

Highly concentrated

Filing Date

Global Rank

#1,759 / 8,623 ▲ 3016 · as of Mar 2026

Top Industry

Asset Management 39.3%

3Y Alpha vs SPY

-6.6%

Period ended 4 months ago

Filed May 5, 2026 · 3mo

25 quarters · since Mar 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.

Not a measure of this manager's performance. Most of Tortoise Investment Management, LLC's reported book is option positions, which a stock-only clone cannot replicate. The figures below are the return of the 87% that is ordinary stock — as little as 13% in one quarter — so a manager whose options thesis lost money can still show a large gain here.

Cloned portfolio

+40.4%

SPY

+65.3%

Annualised alpha

-6.3%

Max drawdown

−11.7%

Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 87% of reported value on average across 13 quarters. Past performance does not predict future results.

Portfolio Concentration

75 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

86.6%

+66.7 pts

Top 5

93.3%

+33.4 pts

Top 10

96.0%

+19.2 pts

HHI

7,518

Highly concentrated+6,530

Portfolio Trend

25 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Unclassified	87.3%	$881,470,695	6
Financial Services	7.2%	$72,795,770	18
Technology	2.0%	$20,252,691	8
Healthcare	1.6%	$16,548,871	8
Industrials	0.6%	$6,363,396	11
Consumer Cyclical	0.4%	$3,828,534	7
Consumer Defensive	0.3%	$2,998,420	5
Communication Services	0.3%	$2,692,335	5
Energy	0.2%	$1,885,149	5
Real Estate	0.1%	$595,271	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
SPY	Spdr S&P 500 ETF Trust	+1,296,350	1,344,387	$874,308,641
AXSM	Axsome Therapeutics, Inc.	+79,209	81,879	$13,839,188
BTT	BlackRock Municipal 2030 Target Term Trust	+40,015	1,401,152	$31,806,150
DNP	Dnp Select Income Fund Inc	+2,379	69,010	$710,803
RDDT	Reddit, Inc.	+1,601	2,706	$364,362
NVDA	Nvidia Corp	+1,160	9,434	$1,645,289
T	At&T Inc.	+750	9,808	$284,333
IBIT	iShares Bitcoin Trust ETF	+677	6,222	$239,049
AMZN	Amazon Com Inc	+662	5,644	$1,175,475
IAU	Ishares Gold Trust	+410	6,003	$529,224
XOM	ExxonMobil Holdings Corp	+270	4,272	$724,787
GOOGL	Alphabet Inc.	+255	4,347	$1,250,023
AVGO	Broadcom Inc.	+254	1,947	$602,615
TSLA	Tesla, Inc.	+176	1,416	$526,398
PLTR	Palantir Technologies Inc.	+134	2,101	$307,334
META	Meta Platforms, Inc.	+100	1,033	$591,010
PM	Philip Morris International Inc.	+74	1,391	$229,987
TROW	Price T Rowe Group Inc	+74	2,908	$262,127
RTX	RTX Corp	+73	1,925	$371,332
ABBV	AbbVie Inc.	+70	1,048	$227,929
V	Visa Inc.	+63	1,014	$306,471
AXP	American Express Co	+39	1,313	$397,156
MCD	Mcdonalds Corp	+38	1,043	$324,153
HON	Honeywell International Inc	+35	1,108	$250,441
UNP	Union Pacific Corp	+30	2,436	$591,022
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
NNY	Nuveen New York Municipal Value Fund	−112,658	549,648	$4,589,560
NUW	Nuveen AMT-Free Municipal Value Fund	−92,716	525,107	$7,524,783
NIM	Nuveen Select Maturities Municipal Fund	−47,519	571,194	$5,397,783
AAPL	Apple Inc.	−10,854	50,826	$12,899,130
CSCO	Cisco Systems, Inc.	−2,393	5,843	$453,358
KMI	Kinder Morgan, Inc.	−1,801	9,287	$311,393
CL	Colgate Palmolive Co	−1,098	4,383	$373,563
CVX	Chevron Corp	−1,084	2,060	$426,214
PG	PROCTER & GAMBLE Co	−997	2,573	$371,644
DIA	Spdr Dow Jones Industrial Average ETF Trust	−845	9,367	$4,338,700
PGR	Progressive Corp/Oh/	−832	29,668	$5,881,384
BRK-B	Berkshire Hathaway Inc	−825	17,683	$8,473,693
GS	Goldman Sachs Group Inc	−680	701	$593,038
PEP	Pepsico Inc	−499	3,853	$598,332
JPM	Jpmorgan Chase & Co	−458	7,346	$2,160,899
CAT	Caterpillar Inc	−386	465	$329,433
JNJ	Johnson & Johnson	−278	2,168	$529,945
QQQ	Invesco Qqq Trust, Series 1	−254	2,575	$1,486,238
LLY	ELI LILLY & Co	−224	1,232	$1,133,156
MRK	Merck & Co., Inc.	−174	3,467	$417,045
COST	Costco Wholesale Corp /New	−168	1,430	$1,424,894
GE	General Electric Co	−138	1,369	$388,481
TRV	Travelers Companies, Inc.	−91	964	$281,179
MSFT	Microsoft Corp	−72	9,498	$3,515,874
BBWI	Bath & Body Works, Inc.	−44	13,800	$257,646
No positions match the current search.

New Positions

Positions the filer opened this quarter

9 positions

Ticker	Company	Shares	Value
SOFI	SoFi Technologies, Inc.	55,527	$881,768
NDAQ	Nasdaq, Inc.	10,153	$861,888
GLD	Spdr Gold Trust	1,322	$568,843
INVH	Invitation Homes Inc.	20,122	$500,031
QXO	QXO, Inc.	20,237	$393,002
MPC	Marathon Petroleum Corp	910	$222,203
MBLY	Mobileye Global Inc.	30,000	$206,100
VZ	Verizon Communications Inc	4,036	$202,607
EPD	Enterprise Products Partners L.P.	5,300	$200,552
No positions match the current search.

Sold Out

Positions the filer fully exited

9 positions

Ticker	Company	Shares	Value
NUV	Nuveen Municipal Value Fund Inc	112,749	$1,021,505
SYK	Stryker Corp	1,173	$412,274
COF	Capital One Financial Corp	1,144	$277,259
AMP	Ameriprise Financial Inc	551	$270,177
KO	Coca Cola Co	3,628	$253,633
SHOP	Shopify Inc.	1,452	$233,728
ACN	Accenture plc	795	$213,298
FXB	Invesco CurrencyShares British Pound Sterling Trust	1,545	$200,463
RLMD	Relmada Therapeutics, Inc.	13,909	$67,180
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

75 tracked positions · $1,009,431,132 total · filing declares 252 positions · $1,211,174,590 · as of Mar 31, 2026

All sectors Communication Services Consumer Cyclical Consumer Defensive Energy Financial Services Healthcare Industrials Real Estate Technology

Showing 1–50 of 75 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
SPY	Spdr S&P 500 ETF Trust PUT + SHARES	Added	1,344,387	+1,296,350	$874,308,641	+2569.0%	86.61%
BTT	BlackRock Municipal 2030 Target Term Trust Financial Services	Added	1,401,152	+40,015	$31,806,150	+2.4%	3.15%
AXSM	Axsome Therapeutics, Inc. PUT + SHARES Healthcare	Added	81,879	+79,209	$13,839,188	+2737.9%	1.37%
AAPL	Apple Inc. Technology	Reduced	50,826	-10,854	$12,899,130	−23.1%	1.28%
BRK-B	Berkshire Hathaway Inc Financial Services	Reduced	17,683	-825	$8,473,693	−8.9%	0.84%
NUW	Nuveen AMT-Free Municipal Value Fund Financial Services	Reduced	525,107	-92,716	$7,524,783	−14.9%	0.75%
PGR	Progressive Corp/Oh/ Financial Services	Reduced	29,668	-832	$5,881,384	−15.3%	0.58%
NIM	Nuveen Select Maturities Municipal Fund Financial Services	Reduced	571,194	-47,519	$5,397,783	−6.3%	0.53%
NNY	Nuveen New York Municipal Value Fund Financial Services	Reduced	549,648	-112,658	$4,589,560	−19.0%	0.45%
DIA	Spdr Dow Jones Industrial Average ETF Trust	Reduced	9,367	-845	$4,338,700	−11.6%	0.43%
MSFT	Microsoft Corp Technology	Reduced	9,498	-72	$3,515,874	−24.0%	0.35%
LTBR	LIGHTBRIDGE Corp Industrials	Held	215,937	0	$2,301,888	−15.7%	0.23%
WULF	Terawulf Inc. Financial Services	Added	153,221	+3	$2,210,979	+25.6%	0.22%
JPM	Jpmorgan Chase & Co Financial Services	Reduced	7,346	-458	$2,160,899	−14.1%	0.21%
NVDA	Nvidia Corp Technology	Added	9,434	+1,160	$1,645,289	+6.6%	0.16%
QQQ	Invesco Qqq Trust, Series 1	Reduced	2,575	-254	$1,486,238	−14.5%	0.15%
COST	Costco Wholesale Corp /New Consumer Defensive	Reduced	1,430	-168	$1,424,894	+3.4%	0.14%
GOOGL	Alphabet Inc. Communication Services	Added	4,347	+255	$1,250,023	−2.4%	0.12%
AMZN	Amazon Com Inc Consumer Cyclical	Added	5,644	+662	$1,175,475	+2.2%	0.12%
LLY	ELI LILLY & Co Healthcare	Reduced	1,232	-224	$1,133,156	−27.6%	0.11%
HD	Home Depot, Inc. Consumer Cyclical	Added	3,369	+3	$1,108,030	−4.3%	0.11%
SOFI	SoFi Technologies, Inc. CALL + SHARES Financial Services	NEW	55,527	NEW	$881,768	NEW	0.09%
NDAQ	Nasdaq, Inc. CALL + SHARES Financial Services	NEW	10,153	NEW	$861,888	NEW	0.09%
XOM	ExxonMobil Holdings Corp Energy	Added	4,272	+270	$724,787	+50.5%	0.07%
DNP	Dnp Select Income Fund Inc Financial Services	Added	69,010	+2,379	$710,803	+6.8%	0.07%
IBM	International Business Machines Corp Technology	Added	2,595	+5	$629,002	−18.0%	0.06%
AVGO	Broadcom Inc. Technology	Added	1,947	+254	$602,615	+2.8%	0.06%
PEP	Pepsico Inc Consumer Defensive	Reduced	3,853	-499	$598,332	−4.2%	0.06%
GS	Goldman Sachs Group Inc Financial Services	Reduced	701	-680	$593,038	−51.1%	0.06%
UNP	Union Pacific Corp Industrials	Added	2,436	+30	$591,022	+6.2%	0.06%
META	Meta Platforms, Inc. Communication Services	Added	1,033	+100	$591,010	−4.0%	0.06%
GLD	Spdr Gold Trust	NEW	1,322	NEW	$568,843	NEW	0.06%
JNJ	Johnson & Johnson Healthcare	Reduced	2,168	-278	$529,945	+4.7%	0.05%
IAU	Ishares Gold Trust	Added	6,003	+410	$529,224	+16.6%	0.05%
PH	Parker-Hannifin Corp Industrials	Added	591	+8	$529,086	+3.2%	0.05%
TSLA	Tesla, Inc. Consumer Cyclical	Added	1,416	+176	$526,398	−5.6%	0.05%
INVH	Invitation Homes Inc. CALL + SHARES Real Estate	NEW	20,122	NEW	$500,031	NEW	0.05%
EMR	Emerson Electric Co Industrials	Added	3,720	+26	$487,394	−0.6%	0.05%
CSCO	Cisco Systems, Inc. Technology	Reduced	5,843	-2,393	$453,358	−28.5%	0.04%
CVX	Chevron Corp Energy	Reduced	2,060	-1,084	$426,214	−11.1%	0.04%
MRK	Merck & Co., Inc. Healthcare	Reduced	3,467	-174	$417,045	+8.8%	0.04%
AXP	American Express Co Financial Services	Added	1,313	+39	$397,156	−15.7%	0.04%
QXO	QXO, Inc. CALL + SHARES Industrials	NEW	20,237	NEW	$393,002	NEW	0.04%
GE	General Electric Co Industrials	Reduced	1,369	-138	$388,481	−16.3%	0.04%
MLI	Mueller Industries Inc Industrials	Added	3,477	+5	$385,251	−3.3%	0.04%
CL	Colgate Palmolive Co Consumer Defensive	Reduced	4,383	-1,098	$373,563	−13.7%	0.04%
PG	PROCTER & GAMBLE Co Consumer Defensive	Reduced	2,573	-997	$371,644	−27.4%	0.04%
RTX	RTX Corp Industrials	Added	1,925	+73	$371,332	+9.3%	0.04%
RDDT	Reddit, Inc. Communication Services	Added	2,706	+1,601	$364,362	+43.4%	0.04%
GEV	GE Vernova Inc. Industrials	Reduced	385	-29	$336,066	+24.2%	0.03%

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.