Tortoise Investment Management, LLC
Registered adviserCIK
1599511
Location
WHITE PLAINS, NY
Portfolio Value
Mid
$1,339,258,900
Diversification
Diversified
Filing Date
Global Rank
#2,093
/ 8,820
▼ 18
Top Industry
Asset Management
41.4%
Period ended 4 months ago
Filed Aug 7, 2026 · 3mo
26 quarters · since Mar 2020
Regulatory profile
From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.
Holder type
Registered adviser
Form ADV roster, Oct 1, 2026
Regulatory AUM
$2,067,860,526
Main clients
Individuals and high net worth
(100% of AUM)
Form ADV history
Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.
| Rosters | Regulatory AUM | Main clients |
|---|---|---|
| Apr 2026 to Oct 2026 | $2,067,860,526 | Individuals and high net worth (100%) |
| Apr 2025 to Mar 2026 | $1,731,785,545 | Individuals and high net worth (100%) |
| Apr 2024 to Mar 2025 | $1,461,211,898 | Individuals and high net worth (100%) |
| May 2023 to Mar 2024 | $1,236,582,769 | Individuals and high net worth (100%) |
| Apr 2023 | $1,236,582,769 | Individuals and high net worth (100%) |
| Apr 2022 to Mar 2023 | $1,347,052,817 | Individuals and high net worth (100%) |
3 earlier changes not shown.
Portfolio style
Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.
Style
Concentrated
The top 10 positions are 75.2% of the book (60%+)
Turnover
Low turnover
13.7% over the last four quarters (under 30%)
Horizon
Long horizon
Value-weighted holding period 21.1 quarters (12+), a floor since 57.9% of the book was already held when coverage starts
Closest benchmark: every 13F filer's combined book, active share 84.8%; sector active share 77.6% against the combined 13F book's sector weights.
Over time 26 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
251 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026Top Position
27.5%
+0.7 pts
Top 5
59.9%
+1.1 pts
Top 10
75.2%
+0.4 pts
HHI
1,102
Diversified+39
Portfolio Trend
26 quarters · across all stocks
Sector Breakdown
As of Jun 30, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Unclassified | 90.5% | $1,212,414,590 |
| Financial Services | 5.8% | $77,194,485 |
| Technology | 1.9% | $25,116,526 |
| Industrials | 0.5% | $7,291,671 |
| Communication Services | 0.3% | $4,650,413 |
| Consumer Cyclical | 0.3% | $4,150,297 |
| Healthcare | 0.3% | $3,937,596 |
| Consumer Defensive | 0.2% | $2,905,440 |
| Energy | 0.1% | $1,493,004 |
| Real Estate | 0.0% | $104,878 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| JMTG | JPMorgan Mortgage-Backed Securities ETF | +89,768 | 705,007 | $35,729,754 | |
| JPIE | JPMorgan Income ETF | +74,232 | 79,732 | $3,671,658 | |
| JMUB | JPMorgan Municipal ETF | +73,075 | 664,214 | $33,645,760 | |
| STIP | iShares 0-5 Year TIPS Bond ETF | +60,756 | 900,987 | $92,044,831 | |
| VGLT | VANGUARD LONG-TERM TREASURY INDEX FUND | +57,195 | 495,847 | $27,360,837 | |
| SCHP | Schwab U.S. TIPS ETF | +48,996 | 978,659 | $25,934,463 | |
| MLN | VanEck Long Muni ETF | +37,530 | 634,387 | $11,279,400 | |
| BAB | Invesco Exchange-Traded Fund Trust II | +36,222 | 464,700 | $12,472,548 | |
| VGIT | VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND | +35,748 | 319,219 | $18,827,536 | |
| SCHR | Schwab Intermediate-Term U.S. Treasury ETF | +31,016 | 95,958 | $2,366,324 | |
| AVUS | Avantis U.S. Equity ETF | +23,353 | 415,640 | $53,235,171 | |
| BTT | BlackRock Municipal 2030 Target Term Trust | +19,322 | 1,420,474 | $32,315,783 | |
| MINO | PIMCO Municipal Income Opportunities Active Exchange-Traded Fund | +16,190 | 126,080 | $5,769,420 | |
| — | +14,060 | 235,466 | $13,579,324 | ||
| MTBA | Simplify MBS ETF | +12,171 | 527,409 | $25,879,959 | |
| LTPZ | PIMCO 15+ Year U.S. TIPS Index Exchange-Traded Fund | +9,800 | 71,497 | $3,621,323 | |
| SCHH | Schwab U.S. REIT ETF | +9,435 | 570,742 | $13,515,170 | |
| IWF | iShares Russell 1000 Growth ETF | +9,129 | 12,172 | $1,511,397 | |
| DUHP | Dimensional US High Profitability ETF | +8,686 | 180,837 | $7,546,328 | |
| DFUS | Dimensional U.S. Equity Market ETF | +8,033 | 105,284 | $8,626,970 | |
| PZT | Invesco Ltd. | +7,955 | 70,547 | $1,603,533 | |
| SPDW | State Street(R) SPDR(R) Portfolio Developed World ex-US ETF | +7,664 | 284,576 | $14,339,784 | |
| BOXX | Alpha Architect 1-3 Month Box ETF | +7,591 | 152,407 | $17,845,335 | |
| DFAR | Dimensional US Real Estate ETF | +5,500 | 24,047 | $629,069 | |
| AVMU | Avantis Core Municipal Fixed Income ETF | +4,924 | 68,554 | $3,193,588 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| SGOV | iShares 0-3 Month Treasury Bond ETF | −25,835 | 262,915 | $26,467,653 | |
| SCHO | Schwab Short-Term U.S. Treasury ETF | −22,848 | 53,279 | $1,286,155 | |
| VGSH | VANGUARD SHORT-TERM TREASURY INDEX FUND | −15,179 | 44,895 | $2,612,889 | |
| NUW | Nuveen AMT-Free Municipal Value Fund | −14,042 | 511,065 | $7,349,114 | |
| TLT | iShares 20+ Year Treasury Bond ETF | −13,589 | 30,520 | $2,637,538 | |
| DMBS | DoubleLine Mortgage ETF | −12,517 | 19,336 | $949,204 | |
| CARY | Angel Oak Income ETF | −11,620 | 651,023 | $13,528,257 | |
| NNY | Nuveen New York Municipal Value Fund | −11,500 | 538,148 | $4,703,413 | |
| IEMG | iShares Trust | −11,048 | 295,482 | $24,477,728 | |
| JMST | JPMorgan Ultra-Short Municipal Income ETF | −10,000 | 40,000 | $2,040,000 | |
| SCHX | Schwab U.S. Large-Cap ETF | −8,238 | 737,656 | $21,709,216 | |
| SPYM | State Street(R) SPDR(R) Portfolio S&P 500(R) ETF | −5,220 | 190,204 | $16,715,127 | |
| VEA | Vanguard FTSE Developed Markets ETF | −5,098 | 165,461 | $11,789,096 | |
| SCHA | Schwab U.S. Small-Cap ETF | −4,492 | 249,627 | $9,019,023 | |
| VWO | VANGUARD EMERGING MARKETS STOCK INDEX FUND | −4,294 | 181,484 | $10,832,779 | |
| DFEV | Dimensional Emerging Markets Value ETF | −4,123 | 199,815 | $8,525,506 | |
| IXUS | iShares Core MSCI Total International Stock ETF | −3,630 | 49,007 | $4,677,228 | |
| DIHP | Dimensional International High Profitability ETF | −3,598 | 98,742 | $3,369,570 | |
| IEFA | iShares Core MSCI EAFE ETF | −3,075 | 152,455 | $14,724,103 | |
| — | −2,923 | 128,217 | $8,296,922 | ||
| IJR | iShares Core S&P Small-Cap ETF | −2,815 | 96,204 | $14,268,015 | |
| VTEC | Vanguard California Tax-Exempt Bond ETF | −2,802 | 2,420 | $243,452 | |
| JEPI | JPMorgan Equity Premium Income ETF | −2,430 | 5,141 | $290,363 | |
| — | −2,400 | 8,607 | $394,200 | ||
| AVTM | Avantis Total Equity Markets ETF | −2,400 | 123,076 | $6,700,257 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
20 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| NYM | AB New York Intermediate Municipal ETF | 201,018 | $5,051,381 | |
| JOYT | JPMorgan Equity and Options Total Return ETF | 13,399 | $761,679 | |
| NBIS | Nebius Group N.V. | 1,915 | $528,865 | |
| JMBS | Janus Henderson Mortgage-Backed Securities ETF | 11,625 | $523,008 | |
| AMD | Advanced Micro Devices Inc | 815 | $473,441 | |
| AMAT | Applied Materials Inc | 535 | $386,805 | |
| APH | Amphenol Corp | 1,632 | $287,754 | |
| ETN | Eaton Corp plc | 643 | $273,995 | |
| VGT | VANGUARD INFORMATION TECHNOLOGY INDEX FUND | 2,281 | $272,625 | |
| TXN | Texas Instruments Inc | 906 | $270,051 | |
| CVS | CVS HEALTH Corp | 2,451 | $253,555 | |
| MU | Micron Technology Inc | 206 | $237,783 | |
| USRT | iShares Core U.S. REIT ETF | 3,555 | $236,229 | |
| BAC | Bank Of America Corp | 4,134 | $235,555 | |
| CAM | AB California Intermediate Municipal ETF | 8,900 | $223,924 | |
| HBAN | Huntington Bancshares Inc | 12,147 | $215,366 | |
| BA | Boeing Co | 969 | $209,759 | |
| USMV | iShares MSCI USA Min Vol Factor ETF | 2,147 | $207,099 | |
| BND | VANGUARD TOTAL BOND MARKET INDEX FUND | 2,749 | $201,804 | |
| PCQ | Pimco California Municipal Income Fund | 13,864 | $124,360 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
13 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| VCSH | VANGUARD SHORT-TERM CORPORATE BOND INDEX FUND | 5,030 | $398,728 | |
| T | At&T Inc. | 9,808 | $284,333 | |
| JSCP | JPMorgan Short Duration Core Plus ETF | 5,695 | $269,373 | |
| HON | Honeywell International Inc | 1,108 | $250,441 | |
| XLF | State Street Corp | 4,347 | $214,611 | |
| WOOD | iShares Global Timber & Forestry ETF | 2,900 | $205,755 | |
| VZ | Verizon Communications Inc | 4,036 | $202,607 | |
| EPD | Enterprise Products Partners L.P. | 5,300 | $200,552 | |
| ZBRA | Zebra Technologies Corp | 957 | $200,089 | |
| SOFI | SoFi Technologies, Inc. | 5,527 | $87,768 | |
| NDAQ | Nasdaq, Inc. | 153 | $12,988 | |
| QXO | QXO, Inc. | 237 | $4,602 | |
| INVH | Invitation Homes Inc. | 122 | $3,031 | |
| No positions match the current search. | ||||
251 tracked positions ·
$1,339,258,900 total
· filing declares
255 positions · $1,342,083,613
· as of Jun 30, 2026
All sectors
Communication Services
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Healthcare
Industrials
Real Estate
Technology
Showing 1–50
of 251 positions by value
· page 1 of 6
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| IVV |
iShares Core S&P 500 ETF
|
Reduced | 142,937 | $107,044,089 | 7.99% | |
| STIP |
iShares 0-5 Year TIPS Bond ETF
|
Added | 900,987 | $92,044,831 | 6.87% | |
| AVUS |
Avantis U.S. Equity ETF
|
Added | 415,640 | $53,235,171 | 3.97% | |
| JMTG |
JPMorgan Mortgage-Backed Securities ETF
|
Added | 705,007 | $35,729,754 | 2.67% | |
| JMUB |
JPMorgan Municipal ETF
|
Added | 664,214 | $33,645,760 | 2.51% | |
| BTT |
BlackRock Municipal 2030 Target Term Trust
Financial Services
|
Added | 1,420,474 | $32,315,783 | 2.41% | |
| VGLT |
VANGUARD LONG-TERM TREASURY INDEX FUND
|
Added | 495,847 | $27,360,837 | 2.04% | |
| SGOV |
iShares 0-3 Month Treasury Bond ETF
|
Reduced | 262,915 | $26,467,653 | 1.98% | |
| SCHP |
Schwab U.S. TIPS ETF
|
Added | 978,659 | $25,934,463 | 1.94% | |
| MTBA |
Simplify MBS ETF
|
Added | 527,409 | $25,879,959 | 1.93% | |
| IEMG |
iShares Trust
|
Reduced | 295,482 | $24,477,728 | 1.83% | |
| SCHX |
Schwab U.S. Large-Cap ETF
|
Reduced | 737,656 | $21,709,216 | 1.62% | |
| DFAU |
Dimensional US Core Equity Market ETF
|
Added | 404,352 | $20,900,954 | 1.56% | |
| VTV |
VANGUARD VALUE INDEX FUND
|
Added | 90,620 | $19,748,816 | 1.47% | |
| ITOT |
iShares Core S&P Total U.S. Stock Market ETF
|
Added | 116,376 | $19,117,085 | 1.43% | |
| IWB |
iShares Russell 1000 ETF
|
Reduced | 46,519 | $19,049,530 | 1.42% | |
| VGIT |
VANGUARD INTERMEDIATE-TERM TREASURY INDEX FUND
|
Added | 319,219 | $18,827,536 | 1.41% | |
| SPY |
Spdr S&P 500 ETF Trust
PUT
+ SHARES
|
Reduced | 45,869 | $18,018,915 | 1.35% | |
| BOXX |
Alpha Architect 1-3 Month Box ETF
|
Added | 152,407 | $17,845,335 | 1.33% | |
| SCHC |
Schwab International Small-Cap Equity ETF
|
Added | 365,315 | $17,578,957 | 1.31% | |
| SPEM |
State Street(R) SPDR(R) Portfolio Emerging Markets ETF
|
Reduced | 336,148 | $17,405,743 | 1.30% | |
| SPYM |
State Street(R) SPDR(R) Portfolio S&P 500(R) ETF
|
Reduced | 190,204 | $16,715,127 | 1.25% | |
| VBIL |
Vanguard Institutional Index Funds
|
Added | 205,882 | $15,581,149 | 1.16% | |
| AAPL |
Apple Inc.
PUT
+ SHARES
Technology
|
Added | 53,106 | $14,935,202 | 1.12% | |
| IEFA |
iShares Core MSCI EAFE ETF
|
Reduced | 152,455 | $14,724,103 | 1.10% | |
| VTI |
VANGUARD TOTAL STOCK MARKET INDEX FUND
|
Reduced | 38,756 | $14,341,270 | 1.07% | |
| SPDW |
State Street(R) SPDR(R) Portfolio Developed World ex-US ETF
|
Added | 284,576 | $14,339,784 | 1.07% | |
| IJR |
iShares Core S&P Small-Cap ETF
|
Reduced | 96,204 | $14,268,015 | 1.07% | |
| DFAE |
Dimensional Emerging Core Equity Market ETF
|
Added | 354,317 | $14,247,086 | 1.06% | |
| DCRE |
DoubleLine Commercial Real Estate Debt ETF
|
Added | 273,990 | $14,194,051 | 1.06% | |
|
|
Added | 235,466 | $13,579,324 | 1.01% | ||
| CARY |
Angel Oak Income ETF
|
Reduced | 651,023 | $13,528,257 | 1.01% | |
| SCHH |
Schwab U.S. REIT ETF
|
Added | 570,742 | $13,515,170 | 1.01% | |
| DFAC |
Dimensional U.S. Core Equity 2 ETF
|
Added | 300,547 | $13,332,264 | 1.00% | |
| AVEE |
Avantis Emerging Markets Small Cap Equity ETF
|
Added | 184,695 | $12,803,980 | 0.96% | |
| DFAI |
Dimensional International Core Equity Market ETF
|
Added | 310,076 | $12,790,635 | 0.96% | |
| BAB |
Invesco Exchange-Traded Fund Trust II
|
Added | 464,700 | $12,472,548 | 0.93% | |
| VV |
VANGUARD LARGE-CAP INDEX FUND
|
Added | 34,519 | $11,871,429 | 0.89% | |
| VEA |
Vanguard FTSE Developed Markets ETF
|
Reduced | 165,461 | $11,789,096 | 0.88% | |
| AVEM |
Avantis Emerging Markets Equity ETF
|
Reduced | 121,127 | $11,687,544 | 0.87% | |
| DFSV |
Dimensional US Small Cap Value ETF
|
Added | 292,404 | $11,342,351 | 0.85% | |
| MLN |
VanEck Long Muni ETF
|
Added | 634,387 | $11,279,400 | 0.84% | |
| IUSV |
iShares Core S&P U.S. Value ETF
|
Reduced | 100,080 | $11,023,812 | 0.82% | |
| VWO |
VANGUARD EMERGING MARKETS STOCK INDEX FUND
|
Reduced | 181,484 | $10,832,779 | 0.81% | |
| DFIV |
Dimensional International Value ETF
|
Added | 181,496 | $9,804,413 | 0.73% | |
| BRK-B |
Berkshire Hathaway Inc
Financial Services
|
Added | 18,159 | $9,086,582 | 0.68% | |
| SCHA |
Schwab U.S. Small-Cap ETF
|
Reduced | 249,627 | $9,019,023 | 0.67% | |
| AVUV |
Avantis U.S. Small Cap Value ETF
|
Reduced | 71,494 | $8,919,591 | 0.67% | |
| DFUS |
Dimensional U.S. Equity Market ETF
|
Added | 105,284 | $8,626,970 | 0.64% | |
| DFEV |
Dimensional Emerging Markets Value ETF
|
Reduced | 199,815 | $8,525,506 | 0.64% |
Showing the top 50 of 251 positions. Create a free account to see every position, past quarters, search, filters and CSV export.
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.