SEC 13F Intelligence

Managers / Q3 2019 · view latest →

Salient Capital Advisors, LLC

CIK 0001510769 · 4265 SAN FELIPE, 8TH FLOOR, HOUSTON, TX, 77027 · 713-993-4675

Reported Value
$3.7B
Q3 2019
Positions
76
Filings on Record
17
2019–present window
Filed
Nov 13, 2019
original filing

Summary

Salient Capital Advisors, LLC reported $3.7B in U.S.-listed holdings across 76 positions for Q3 2019.

Its largest position, EPD, represents 10.2% of the portfolio.

Compared with Q2 2019, the fund opened 5 new positions and exited 12.

Portfolio Metrics

Turnover
+8.5%
vs prior filed quarter
Top-10 Concentration
+72.2%
share of reported value
Largest Position
+10.2%
Enterprise Prods Partners L
New / Exited
5 / 12
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded, with multiple share classes and repeated sub-manager rows for the same issuer combined into one position — the same rule the holdings table uses by default. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q1 ’19: $8.6BQ1 ’19Q2 ’19: $4.1BQ3 ’19: $3.7BQ3 ’19Q4 ’19: $3.5BQ1 ’20: $1.6BQ1 ’20Q2 ’20: $2.1BQ3 ’20: $1.6BQ3 ’20Q4 ’20: $1.8BQ1 ’21: $2.1BQ1 ’21Q2 ’21: $2.4BQ3 ’21: $2.0BQ3 ’21Q4 ’21: $2.0BQ1 ’22: $2.4BQ1 ’22Q2 ’22: $1.9BQ3 ’22: $1.7BQ3 ’22Q4 ’22: $0filingsflow.com

Portfolio Composition

By security type
Common Stock: 57.2%MLP: 38.1%Ltd Part: 2.8%Other: 0.9%Unit: 0.9%Other: 0.1%
  • Common Stock · 57.2% · $2.1B
  • MLP · 38.1% · $1.4B
  • Ltd Part · 2.8% · $103M
  • Other · 0.9% · $35M
  • Unit · 0.9% · $34M
  • Other · 0.1% · $4M

Quarter-over-Quarter Changes full breakdown →

vs Q2 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
UGIUGI CORP NEWNEW+43.9K43.9K+$2M$2M
BKRBAKER HUGHES A GE CONEW+44.5K44.5K+$1M$1M
PBFPBF ENERGY INCNEW+34.6K34.6K+$941,000$941,000
PSXPHILLIPS 66NEW+8.7K8.7K+$892,000$892,000
UNITED STATES OIL FUND LPNEW+29.0K29.0K+$329,000$329,000
SEMGROUP CORPADDED+53.1K68.0K+$933,000$1M
MACQUARIE INFRASTRUCTURE CORADDED+570.4K742.8K+$22M$29M
KMIKINDER MORGAN INC DELADDED+8.90M11.79M+$183M$243M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q3 2019

76 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EPDENTERPRISE PRODS PARTNERS Lhistory →COM10.23%$382M13.37M
2ENBENBRIDGE INChistory →COM9.38%$350M9.98M
3WMBWILLIAMS COS INC DELhistory →COM8.72%$326M13.54M
4ETENERGY TRANSFER LPhistory →COM UT LTD PTN8.48%$317M24.20M
5PBAPEMBINA PIPELINE CORPhistory →COM7.85%$293M7.90M
6KMIKINDER MORGAN INC DELhistory →COM6.51%$243M11.79M
7TRPTC ENERGY CORPhistory →COM6.25%$233M4.50M
8LNGCHENIERE ENERGY INChistory →COM NEW5.30%$198M3.14M
9OKEONEOK INC NEWhistory →COM4.85%$181M2.46M
10PAAPLAINS ALL AMERN PIPELINE Lhistory →UNIT LTD PARTN4.64%$173M8.35M
11MPLXMPLX LPhistory →COM UNIT REP LTD4.13%$154M5.51M
12TRGPTARGA RES CORPhistory →COM4.03%$150M3.74M
13MAGELLAN MIDSTREAM PRTNRS LPCOM UNIT RP LP2.77%$103M1.56M
14PAGPPLAINS GP HLDGS L Phistory →LTD PARTNR INT A1.78%$66M3.12M
15GELGENESIS ENERGY L Phistory →UNIT LTD PARTN1.69%$63M2.94M
16NGLNGL ENERGY PARTNERS LPhistory →COM UNIT REPST1.48%$55M3.98M
17AMANTERO MIDSTREAM CORPhistory →COM1.47%$55M7.43M
18SHELL MIDSTREAM PARTNERS L PUNIT LTD INT1.27%$47M2.31M
19PHILLIPS 66 PARTNERS LPCOM UNIT REP INT1.17%$44M770.0K
20RATTLER MIDSTREAM LPCOM UNITS0.98%$36M2.04M
21ENLINK MIDSTREAM LLCCOM UNIT REP LTD0.92%$34M4.05M
22MACQUARIE INFRASTRUCTURE CORCOM0.79%$29M742.8K
23NOBLE MIDSTREAM PARTNERS LPCOM UNIT REPST0.69%$26M1.08M
24WESWESTERN MIDSTREAM PARTNERS Lhistory →COM UNIT LP INT0.69%$26M1.04M
25BP MIDSTREAM PARTNERS LPUNIT LTD PTNR0.66%$25M1.68M
26EQUITRANS MIDSTREAM CORPORATCOM0.53%$20M1.37M
27TALLGRASS ENERGY LPCLASS A SHS0.36%$13M667.2K
28EQM MIDSTREAM PARTNERS LPUNIT LTD PARTN0.32%$12M360.4K
29XIFRNEXTERA ENERGY PARTNERS LPhistory →COM UNIT PART IN0.28%$10M197.5K
30CRESTWOOD EQUITY PARTNERS LPUNIT LTD PARTNER0.15%$6M151.4K
31ENABLE MIDSTREAM PARTNERS LPCOM UNIT RP IN0.13%$5M400.0K
32ALTUS MIDSTREAM COCL A0.10%$4M1.26M
33GASLOG LTDSHS0.09%$3M264.7K
34GASLOG PARTNERS LPUNIT LTD PTNRP0.06%$2M121.1K
35JPMORGAN CHASE COALERIAN ML ETN0.06%$2M96.3K
36UGIUGI CORP NEWCOM0.06%$2M43.9K
37DCP MIDSTREAM LPCOM UT LTD PTN0.06%$2M82.7K
38USACUSA COMPRESSION PARTNERS LPCOMUNIT LTDPAR0.05%$2M117.3K
39TELLURIAN INC NEWCOM0.05%$2M233.9K
40WLKPWESTLAKE CHEM PARTNERS LPCOM UNIT RP LP0.05%$2M81.9K
41SUNSUNOCO LPCOM UT REP LP0.05%$2M59.8K
42MPCMARATHON PETE CORPCOM0.05%$2M30.8K
43FANGDIAMONDBACK ENERGY INCCOM0.04%$2M17.9K
44DVNDEVON ENERGY CORP NEWCOM0.04%$2M65.3K
45WPX ENERGY INCCOM0.04%$2M148.2K
46PARSLEY ENERGY INCCL A0.04%$2M92.6K
47PIONEER NAT RES COCOM0.04%$1M11.4K
48FTITECHNIPFMC PLCCOM0.04%$1M58.9K
49MARATHON OIL CORPCOM0.04%$1M111.3K
50ROYAL DUTCH SHELL PLCSPONS ADR A0.04%$1M22.9K
51EXMOCEXXON MOBIL CORPCOM0.04%$1M18.8K
52NOBLE ENERGY INCCOM0.03%$1M53.0K
53COPCONOCOPHILLIPSCOM0.03%$1M20.8K
54VLOVALERO ENERGY CORP NEWCOM0.03%$1M13.5K
55SEMGROUP CORPCL A0.03%$1M68.0K
56CIMAREX ENERGY COCOM0.03%$1M22.9K
57BKRBAKER HUGHES A GE COCL A0.03%$1M44.5K
58CONTINENTAL RESOURCES INCCOM0.03%$995,00032.3K
59HALHALLIBURTON COCOM0.03%$972,00051.6K
60PBFPBF ENERGY INCCL A0.03%$941,00034.6K
61HESHESS CORPCOM0.02%$897,00014.8K
62PSXPHILLIPS 66COM0.02%$892,0008.7K
63SLBSCHLUMBERGER LTDCOM0.02%$836,00024.5K
64CQPCHENIERE ENERGY PARTNERS LPCOM UNIT0.02%$796,00017.5K
65CONCHO RES INCCOM0.02%$769,00011.3K
66CTRACABOT OIL GAS CORPCOM0.02%$755,00043.0K
67PUMPPROPETRO HLDG CORPCOM0.01%$536,00059.0K
68SEISOLARIS OILFIELD INFRSTR INCCOM CL A0.01%$529,00039.4K
69EQTEQT CORPCOM0.01%$428,00040.3K
70BUCKEYE PARTNERS L PUNIT LTD PARTN0.01%$403,0009.8K
71RIGTRANSOCEAN LTDREG SHS0.01%$388,00086.8K
72UNITED STATES OIL FUND LPUNITS0.01%$329,00029.0K
73GOLAR LNG PARTNERS LPCOM UNIT LPI0.01%$272,00028.4K
74NUSTAR ENERGY LPUNIT COM0.01%$269,0009.5K
75ENVIVA PARTNERS LPCOM UNIT0.01%$231,0007.2K
76CNX MIDSTREAM PARTNERS LPCOM UNIT REPST0.00%$160,00011.3K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q4 2022$01Jan 13, 202313F-HRchanges · EDGAR ↗
Q3 2022$1.7B43Nov 10, 202213F-HRchanges · EDGAR ↗
Q2 2022$1.9B82Aug 2, 202213F-HRchanges · EDGAR ↗
Q1 2022$2.4B78May 11, 202213F-HRchanges · EDGAR ↗
Q4 2021$2.0B75Feb 3, 202213F-HRchanges · EDGAR ↗
Q3 2021$2.0B57Nov 12, 202113F-HRchanges · EDGAR ↗
Q2 2021$2.4B58Aug 12, 202113F-HRchanges · EDGAR ↗
Q1 2021$2.1B62May 6, 202113F-HRchanges · EDGAR ↗
Q4 2020$1.8B77Feb 11, 202113F-HRchanges · EDGAR ↗
Q3 2020$1.6B71Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$2.1B64Aug 13, 202013F-HRchanges · EDGAR ↗
Q1 2020$1.6B59May 12, 202013F-HRchanges · EDGAR ↗
Q4 2019$3.5B76Feb 13, 202013F-HRchanges · EDGAR ↗
Q3 2019$3.7B76Nov 13, 201913F-HRchanges · EDGAR ↗
Q2 2019$4.1B83Aug 14, 201913F-HRchanges · EDGAR ↗
Q1 2019REVEALED$8.6B107May 9, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.