INFRASTRUCTURE CAPITAL ADVISORS, LLC

Registered adviser

CIK

1621802

Location

New York, NY

Portfolio Value

Mid $1,283,414,909

Diversification

Diversified

Reports for

Virtus Investment Advisers, LLC

Filing Date

Global Rank

#2,138 / 8,819 ▲ 43

Top Industry

Oil & Gas Midstream 50.6%

Period ended 4 months ago

Filed Aug 13, 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

Form ADV adviser

CRD 166459

Roster of Oct 1, 2026

Regulatory AUM

$3,641,900,000

Main clients

Registered funds and BDCs (99% of AUM)

Private funds

1 fund · Hedge funds

Focus by fund count, roster of Oct 1, 2026

$10,000,000 gross assets

Registered funds advised

3 series (0 index, 3 ETFs)

$90,544,077 net assets· N-CEN Nov 30, 2025

Private funds on Schedule D 7.B.(1)

As filed Mar 30, 2024; SEC's bulk Form ADV archive ends with 2024 filings.

$11,800,000 gross assets in 1 fund Hedge funds $11,800,000 (1)

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	$3,641,900,000	Registered funds and BDCs (99%)
Apr 2025 to Mar 2026	$2,637,455,000	Registered funds and BDCs (99%)
Apr 2024 to Mar 2025	$1,717,108,000	Registered funds and BDCs (99%)
May 2023 to Mar 2024	$1,279,306,243	Registered funds and BDCs (98%)
Apr 2023	$1,279,306,243	Registered funds and BDCs (98%)
Apr 2022 to Mar 2023	$1,175,170,400	Registered funds and BDCs (96%)

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

Diversified active

Top 10 weight 59.1%, 22.8 effective positions, active share 81.9% against the S&P 500 as of 2026-06-30; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Medium turnover

45.1% over the last four quarters (30% to under 100%)

Horizon

Long horizon

Value-weighted holding period 12.6 quarters (12+), a floor since 30.4% of the book was already held when coverage starts

Closest benchmark: the S&P 500 as of 2026-06-30, active share 81.9%; sector active share 59.1% 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 backtest

Portfolio Concentration

162 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

31.4%

−1.6 pts

Top 5

53.0%

−5.4 pts

Top 10

69.2%

−6.0 pts

HHI

1,185

Diversified−154

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Energy	41.0%	$525,716,819	26
Unclassified	33.9%	$435,501,033	10
Technology	5.5%	$70,334,215	34
Communication Services	5.5%	$70,203,793	11
Financial Services	3.2%	$41,453,798	20
Industrials	3.1%	$40,389,968	13
Consumer Cyclical	2.7%	$34,488,607	15
Healthcare	2.4%	$30,422,752	5
Utilities	1.0%	$12,413,111	8
Consumer Defensive	0.7%	$9,539,619	5
Real Estate	0.7%	$8,391,785	10
Basic Materials	0.4%	$4,559,409	5

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
CELH	Celsius Holdings, Inc.	+65,127	187,661	$5,494,714
STRK	Strategy Inc	+37,875	190,876	$11,227,326
BHR	Braemar Hotels & Resorts Inc.	+34,897	259,555	$560,638
USAC	USA Compression Partners, LP	+30,704	345,361	$9,114,076
DHI	Horton D R Inc	+28,883	33,994	$5,536,942
SUN	Sunoco LP	+22,859	995,794	$67,216,095
LEN	Lennar Corp	+20,459	53,340	$4,826,736
TOL	Toll Brothers, Inc.	+19,448	50,674	$8,348,541
AVGO	Broadcom Inc.	+19,257	22,580	$8,529,595
XOM	ExxonMobil Holdings Corp	+18,713	20,151	$2,755,044
HBM	Hudbay Minerals Inc.	+17,686	27,686	$653,666
SAFE	Safehold Inc.	+14,675	72,508	$1,138,375
CVX	Chevron Corp	+12,464	13,449	$2,229,306
GEL	Genesis Energy LP	+11,575	643,436	$9,117,488
KHC	Kraft Heinz Co	+11,151	67,381	$1,591,539
LMT	Lockheed Martin Corp	+11,042	12,554	$6,395,760
KKR	KKR & Co. Inc.	+10,140	52,614	$4,828,912
MSFT	Microsoft Corp	+10,056	15,776	$5,884,763
GENI	Genius Sports Ltd	+9,500	35,500	$215,130
SO	Southern Co	+8,548	11,853	$1,134,450
HYG	iShares iBoxx $ High Yield Corporate Bond ETF	+8,400	11,909	$952,362
AMZN	Amazon Com Inc	+8,253	40,668	$9,692,811
—		+8,155	81,360	$16,999,358
REXR	Rexford Industrial Realty, Inc.	+7,533	45,532	$1,525,322
SARO	StandardAero, Inc.	+7,394	29,402	$879,413
No positions match the current search.

Trimmed

Positions the filer reduced

25 positions

Ticker	Company	Δ Shares	Shares	Value
MPLX	Mplx LP	−131,466	936,785	$52,769,099
KMI	Kinder Morgan, Inc.	−126,023	428,374	$13,695,116
WMB	Williams Companies, Inc.	−96,573	205,503	$15,277,093
PAA	Plains All American Pipeline LP	−94,584	2,995,408	$66,677,782
ET	Energy Transfer LP	−79,830	4,163,933	$79,614,399
HESM	Hess Midstream LP	−64,178	604,561	$22,731,493
MRVL	Marvell Technology, Inc.	−58,904	2,937	$874,902
EPD	Enterprise Products Partners L.P.	−56,403	1,491,905	$54,842,427
TRGP	Targa Resources Corp.	−55,896	37,695	$10,107,537
KRC	Kilroy Realty Corp	−31,448	33,878	$1,269,408
TRP	Tc Energy Corp	−23,524	67,733	$4,490,020
BXP	BXP, Inc.	−19,162	11,099	$735,974
OKE	Oneok Inc	−18,641	72,588	$6,310,800
WES	Western Midstream Partners, LP	−17,697	1,217,182	$53,263,884
DKL	Delek Logistics Partners, LP	−16,664	139,812	$7,205,910
MPC	Marathon Petroleum Corp	−12,368	12,236	$3,128,378
KO	Coca Cola Co	−9,472	2,548	$207,075
USB	US Bancorp De	−7,794	10,899	$658,299
DINO	HF Sinclair Corp	−6,882	22,084	$1,538,150
SNEX	StoneX Group Inc.	−6,284	4,000	$474,000
PFFA	Virtus InfraCap U.S. Preferred Stock ETF	−5,354	283,867	$5,839,144
NTB	Bank of N.T. Butterfield & Son Ltd	−2,923	10,791	$642,064
NEE	Nextera Energy Inc	−2,477	37,443	$3,286,371
APO	Apollo Global Management, Inc.	−2,233	27,705	$3,277,778
NWE	NorthWestern Energy Group, Inc.	−2,113	6,537	$468,179
No positions match the current search.

New Positions

Positions the filer opened this quarter

25 positions

Ticker	Company	Shares	Value
GOOGM	Alphabet Inc.	971,033	$49,415,868
BTSGU	BrightSpring Health Services, Inc.	107,734	$24,665,699
MCHPP	Microchip Technology Inc	267,511	$20,520,768
GOOGN	Alphabet Inc.	225,000	$11,317,500
BAC	Bank Of America Corp	108,548	$6,185,065
VSECU	Vse Corp	94,240	$5,434,820
ORCL	Oracle Corp	17,179	$2,517,582
RTX	RTX Corp	12,428	$2,357,964
GOOGL	Alphabet Inc.	6,501	$2,323,262
MU	Micron Technology Inc	1,431	$1,651,788
NFLX	Netflix Inc	19,613	$1,400,368
LLY	ELI LILLY & Co	1,121	$1,344,561
QVOL	Infrastructure Capital Nasdaq Option Income ETF	10,508	$1,077,910
INTC	Intel Corp	7,072	$987,463
ALB	Albemarle Corp	7,025	$948,585
AAPL	Apple Inc.	3,245	$938,973
HRI	Herc Holdings Inc	5,817	$833,808
AMAT	Applied Materials Inc	1,120	$809,760
SPH	Suburban Propane Partners LP	46,597	$796,808
OPI	Office Properties Income Trust	45,864	$779,688
KTB	Kontoor Brands, Inc.	7,812	$651,052
SMTC	Semtech Corp	3,950	$639,307
MCD	Mcdonalds Corp	2,301	$621,983
LRCX	Lam Research Corp	1,382	$598,862
GNRC	Generac Holdings Inc.	1,962	$574,493
No positions match the current search.

Sold Out

Positions the filer fully exited

20 positions

Ticker	Company	Shares	Value
—		37,334	$1,311,917
KVUE	Kenvue Inc.	52,501	$905,117
CAT	Caterpillar Inc	1,013	$717,669
GNL	Global Net Lease, Inc.	68,204	$638,389
EIX	Edison International	7,748	$566,998
PFBC	Preferred Bank	5,513	$499,973
FSLR	First Solar, Inc.	2,531	$499,265
OKTA	Okta, Inc.	5,948	$468,167
ASIX	AdvanSix Inc.	14,748	$359,851
LAZ	Lazard, Inc.	7,391	$313,969
CASY	Caseys General Stores Inc	413	$300,606
CHRD	Chord Energy Corp	2,040	$290,047
VIAV	Viavi Solutions Inc.	8,355	$278,054
BNDS	Infrastructure Capital Bond Income ETF	5,580	$277,130
RRX	Regal Rexnord Corp	1,440	$269,654
WAL	Western Alliance Bancorporation	3,349	$237,276
FROG	JFrog Ltd	4,962	$232,866
—		5,000	$210,250
OGN	Organon & Co.	28,001	$167,725
FSK	FS KKR Capital Corp	10,000	$101,800
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

162 tracked positions · $1,283,414,909 total · filing declares 201 positions · $1,709,110,169 · as of Jun 30, 2026

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

Showing 1–50 of 162 positions by value · page 1 of 4

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
SPY	Spdr S&P 500 ETF Trust CALL	Reduced	540,000	-10,000	$403,255,800	+12.7%	—	—	31.42%
ET	Energy Transfer LP Energy	Reduced	4,163,933	-79,830	$79,614,399	−2.8%	26+	before history	6.20%
SUN	Sunoco LP Energy	Added	995,794	+22,859	$67,216,095	+6.3%	11	$56.50	5.24%
PAA	Plains All American Pipeline LP Energy	Reduced	2,995,408	-94,584	$66,677,782	−3.4%	26+	before history	5.20%
EPD	Enterprise Products Partners L.P. Energy	Reduced	1,491,905	-56,403	$54,842,427	−6.4%	26+	before history	4.27%
WES	Western Midstream Partners, LP Energy	Reduced	1,217,182	-17,697	$53,263,884	+4.8%	5	$38.32	4.15%
MPLX	Mplx LP Energy	Reduced	936,785	-131,466	$52,769,099	−13.4%	26+	before history	4.11%
GOOGM	Alphabet Inc. Communication Services	NEW	971,033	NEW	$49,415,868	NEW	1	unpriced	3.85%
BTSGU	BrightSpring Health Services, Inc. Healthcare	NEW	107,734	NEW	$24,665,699	NEW	1	$183.62	1.92%
HESM	Hess Midstream LP Energy	Reduced	604,561	-64,178	$22,731,493	−12.6%	16	$36.96	1.77%
MCHPP	Microchip Technology Inc Technology	NEW	267,511	NEW	$20,520,768	NEW	1	$75.88	1.60%
LNG	Cheniere Energy, Inc. Energy	Added	82,640	+450	$19,751,786	−15.3%	15	$203.96	1.54%
IWM	iShares Russell 2000 ETF CALL	NEW	65,000	NEW	$19,529,250	NEW	—	—	1.52%
		Added	81,360	+8,155	$16,999,358	+12.3%	3	unpriced	1.32%
WMB	Williams Companies, Inc. Energy	Reduced	205,503	-96,573	$15,277,093	−30.5%	5	$60.11	1.19%
CQP	Cheniere Energy Partners, L.P. Energy	Added	230,763	+4,152	$14,065,004	−4.0%	19	unpriced	1.10%
KMI	Kinder Morgan, Inc. Energy	Reduced	428,374	-126,023	$13,695,116	−26.3%	19	$26.57	1.07%
GOOGN	Alphabet Inc. Communication Services	NEW	225,000	NEW	$11,317,500	NEW	1	unpriced	0.88%
STRK	Strategy Inc Technology	Added	190,876	+37,875	$11,227,326	+3.8%	3	$82.73	0.87%
AMZN	Amazon Com Inc CALL + SHARES Consumer Cyclical	Added	44,668	+1,253	$10,646,171	+17.7%	9	$219.30	0.83%
TRGP	Targa Resources Corp. Energy	Reduced	37,695	-55,896	$10,107,537	−56.9%	15	$161.14	0.79%
GEL	Genesis Energy LP Energy	Added	643,436	+11,575	$9,117,488	−19.1%	17	$14.32	0.71%
USAC	USA Compression Partners, LP Energy	Added	345,361	+30,704	$9,114,076	+6.8%	10	$26.24	0.71%
AVGO	Broadcom Inc. CALL + SHARES Technology	Added	23,580	+20,257	$8,907,345	+766.1%	10	unpriced	0.69%
KKR	KKR & Co. Inc. CALL + SHARES Financial Services	Reduced	92,614	-13,860	$8,500,112	−13.7%	5	$114.22	0.66%
TOL	Toll Brothers, Inc. Consumer Cyclical	Added	50,674	+19,448	$8,348,541	+95.9%	2	$145.07	0.65%
DKL	Delek Logistics Partners, LP Energy	Reduced	139,812	-16,664	$7,205,910	−7.5%	15	$44.52	0.56%
LMT	Lockheed Martin Corp Industrials	Added	12,554	+11,042	$6,395,760	+599.9%	3	$544.08	0.50%
OKE	Oneok Inc Energy	Reduced	72,588	-18,641	$6,310,800	−23.5%	12	$86.46	0.49%
BAC	Bank Of America Corp Financial Services	NEW	108,548	NEW	$6,185,065	NEW	1	$53.18	0.48%
CFG	Citizens Financial Group Inc Financial Services	Added	84,054	+1,842	$5,889,663	+19.5%	3	$57.41	0.46%
MSFT	Microsoft Corp Technology	Added	15,776	+10,056	$5,884,763	+177.9%	5	$412.41	0.46%
PFFA	Virtus InfraCap U.S. Preferred Stock ETF	Reduced	283,867	-5,354	$5,839,144	−0.8%	26+	before history	0.45%
DHI	Horton D R Inc Consumer Cyclical	Added	33,994	+28,883	$5,536,942	+689.5%	2	$149.52	0.43%
CELH	Celsius Holdings, Inc. Consumer Defensive	Added	187,661	+65,127	$5,494,714	+26.4%	3	$42.89	0.43%
VSECU	Vse Corp Industrials	NEW	94,240	NEW	$5,434,820	NEW	1	$50.80	0.42%
GLP	Global Partners LP Energy	Added	112,228	+2,020	$5,228,702	+12.7%	10	$51.32	0.41%
LEN	Lennar Corp Consumer Cyclical	Added	53,340	+20,459	$4,826,736	+69.0%	2	$100.91	0.38%
TRP	Tc Energy Corp Energy	Reduced	67,733	-23,524	$4,490,020	−21.4%	4	$57.54	0.35%
NVDA	Nvidia Corp Technology	Added	21,806	+6,807	$4,363,162	+66.8%	3	$191.23	0.34%
GEV	GE Vernova Inc. Industrials	Added	3,591	+3,090	$4,218,922	+864.7%	3	$963.25	0.33%
MRK	Merck & Co., Inc. Healthcare	Added	26,324	+4,347	$3,382,634	+28.0%	8	$104.69	0.26%
NEE	Nextera Energy Inc Utilities	Reduced	37,443	-2,477	$3,286,371	−11.4%	4	$77.69	0.26%
APO	Apollo Global Management, Inc. Financial Services	Reduced	27,705	-2,233	$3,277,778	−1.7%	5	$135.43	0.26%
MPC	Marathon Petroleum Corp Energy	Reduced	12,236	-12,368	$3,128,378	−47.9%	3	$186.93	0.24%
ZION	Zions Bancorporation, National Association Financial Services	Added	40,839	+6,750	$2,825,650	+43.9%	2	$59.60	0.22%
META	Meta Platforms, Inc. Communication Services	Added	4,977	+162	$2,803,494	+1.8%	5	$682.15	0.22%
XOM	ExxonMobil Holdings Corp Energy	Added	20,151	+18,713	$2,755,044	+1029.3%	8	$147.28	0.21%
GS	Goldman Sachs Group Inc Financial Services	Reduced	2,684	-1,458	$2,714,517	−22.5%	10	$795.02	0.21%
AMD	Advanced Micro Devices Inc CALL + SHARES Technology	Added	4,516	+3,315	$2,623,389	+973.8%	2	$351.23	0.20%

Showing the top 50 of 162 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.