Tortoise Investment Management, LLC

CIK

1599511

Location

WHITE PLAINS, NY

Portfolio Value

Mid $1,009,431,132

Diversification

Highly concentrated

Filing Date

Global Rank

#1,503 / 8,232 ▲ 3041

Top Industry

Asset Management 39.3%

3Y Alpha vs SPY

-8.0%

Period ended 2 months ago

Filed May 5, 2026 · 40d

25 quarters · since Mar 2020

Clone Performance

Jun 2023–Jun 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+43.7%

SPY

+76.3%

Annualised alpha

-8.0%

Max drawdown

−11.7%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

75 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	Exxon Mobil 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
TROW	Price T Rowe Group Inc	+74	2,908	$262,127
PM	Philip Morris International Inc.	+74	1,391	$229,987
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 positions · $1,009,431,132 total · 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	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. 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. Financial Services	NEW	55,527	NEW	$881,768	NEW	0.09%
NDAQ	Nasdaq, Inc. Financial Services	NEW	10,153	NEW	$861,888	NEW	0.09%
XOM	Exxon Mobil 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. 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. 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%