SEC 13F Intelligence

Managers / Q1 2020 · view latest →

Salient Capital Advisors, LLC

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

Reported Value
$1.6B
Q1 2020
Positions
59
Filings on Record
18
2019–present window
Filed
May 12, 2020
original filing

Summary

Salient Capital Advisors, LLC reported $1.6B in U.S.-listed holdings across 59 positions for Q1 2020.

Its largest position, TRP, represents 14.2% of the portfolio.

Compared with Q4 2019, the fund opened 8 new positions and exited 25.

Portfolio Metrics

Turnover
+4.1%
vs prior filed quarter
Top-10 Concentration
+84.5%
share of reported value
Largest Position
+14.2%
Tc Energy
New / Exited
8 / 25
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
Q4 ’18: $3.7BQ4 ’18Q1 ’19: $8.6BQ2 ’19: $4.1BQ3 ’19: $3.7BQ3 ’19Q4 ’19: $3.5BQ1 ’20: $1.6BQ2 ’20: $2.1BQ2 ’20Q3 ’20: $1.6BQ4 ’20: $1.8BQ1 ’21: $2.1BQ1 ’21Q2 ’21: $2.4BQ3 ’21: $2.0BQ4 ’21: $2.0BQ4 ’21Q1 ’22: $2.4BQ2 ’22: $1.9BQ3 ’22: $1.7BQ3 ’22Q4 ’22: $0filingsflow.com

Portfolio Composition

By security type
Common Stock: 74.7%MLP: 25.1%Ltd Part: 0.1%ETP: 0.1%Other: 0.0%ADR: 0.0%
  • Common Stock · 74.7% · $1.2B
  • MLP · 25.1% · $405M
  • Ltd Part · 0.1% · $2M
  • ETP · 0.1% · $1M
  • Other · 0.0% · $538,000
  • ADR · 0.0% · $383,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2019 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
TALLGRASS ENERGY LPNEW+2.88M2.88M+$47M$47M
NEENEXTERA ENERGY INCNEW+61.7K61.7K+$15M$15M
DDOMINION ENERGY INCNEW+85.2K85.2K+$6M$6M
CVXCHEVRON CORP NEWNEW+6.9K6.9K+$501,000$501,000
EOGEOG RES INCNEW+11.2K11.2K+$401,000$401,000
EQTEQT CORPORATIONNEW+38.6K38.6K+$273,000$273,000
OXYOCCIDENTAL PETE CORPNEW+11.7K11.7K+$136,000$136,000
APERGY CORPNEW+14.5K14.5K+$83,000$83,000

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

Holdings — Q1 2020

59 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1TRPTC ENERGY CORPhistory →COM14.16%$229M5.07M
2ENBENBRIDGE INChistory →COM12.97%$209M7.06M
3KMIKINDER MORGAN INC DELhistory →COM12.66%$204M14.68M
4WMBWILLIAMS COS INChistory →COM9.81%$158M11.20M
5EPDENTERPRISE PRODS PARTNERS Lhistory →COM9.61%$155M10.85M
6PBAPEMBINA PIPELINE CORPhistory →COM6.01%$97M5.07M
7LNGCHENIERE ENERGY INChistory →COM NEW5.88%$95M2.83M
8MAGELLAN MIDSTREAM PRTNRS LPCOM UNIT RP LP4.99%$81M2.21M
9ETENERGY TRANSFER LPhistory →COM UT LTD PTN4.84%$78M16.98M
10OKEONEOK INC NEWhistory →COM3.56%$57M2.63M
11TALLGRASS ENERGY LPCLASS A SHS2.94%$47M2.88M
12PHILLIPS 66 PARTNERS LPCOM UNIT REP INT1.94%$31M859.5K
13MACQUARIE INFRASTRUCTURE CORCOM1.66%$27M1.06M
14XIFRNEXTERA ENERGY PARTNERS LPhistory →COM UNIT PART IN1.28%$21M482.3K
15PAAPLAINS ALL AMERN PIPELINE Lhistory →UNIT LTD PARTN1.25%$20M3.83M
16SHELL MIDSTREAM PARTNERS L PUNIT LTD INT0.96%$16M1.56M
17NEENEXTERA ENERGY INChistory →COM0.92%$15M61.7K
18MPLXMPLX LPhistory →COM UNIT REP LTD0.87%$14M1.21M
19TRGPTARGA RES CORPhistory →COM0.74%$12M1.73M
20EQUITRANS MIDSTREAM CORPCOM0.55%$9M1.78M
21CQPCHENIERE ENERGY PARTNERS LPCOM UNIT0.39%$6M231.8K
22DDOMINION ENERGY INCCOM0.38%$6M85.2K
23AMANTERO MIDSTREAM CORPCOM0.34%$5M2.62M
24ENVIVA PARTNERS LPCOM UNIT0.27%$4M160.1K
25TC PIPELINES LPUT COM LTD PRT0.15%$2M87.8K
26PAGPPLAINS GP HLDGS L PLTD PARTNR INT A0.11%$2M306.8K
27JPMORGAN CHASE COALERIAN ML ETN0.09%$1M153.6K
28EQM MIDSTREAM PARTNERS LPUNIT LTD PARTN0.06%$1M84.8K
29EXMOCEXXON MOBIL CORPCOM0.05%$757,00019.9K
30COPCONOCOPHILLIPSCOM0.04%$577,00018.7K
31PIONEER NAT RES COCOM0.03%$539,0007.7K
32CNX MIDSTREAM PARTNERS LPCOM UNIT REPST0.03%$538,00066.4K
33CVXCHEVRON CORP NEWCOM0.03%$501,0006.9K
34CONCHO RES INCCOM0.03%$500,00011.7K
35VLOVALERO ENERGY CORPCOM0.03%$481,00010.6K
36NOBLE ENERGY INCCOM0.03%$458,00075.8K
37HESHESS CORPCOM0.03%$451,00013.6K
38PSXPHILLIPS 66COM0.03%$423,0007.9K
39EOGEOG RES INCCOM0.02%$401,00011.2K
40ROYAL DUTCH SHELL PLCSPONS ADR A0.02%$383,00011.0K
41MPCMARATHON PETE CORPCOM0.02%$370,00015.7K
42PARSLEY ENERGY INCCL A0.02%$326,00057.0K
43FANGDIAMONDBACK ENERGY INCCOM0.02%$316,00012.1K
44BKRBAKER HUGHES COMPANYCL A0.02%$297,00028.3K
45CTRACABOT OIL GAS CORPCOM0.02%$278,00016.2K
46CIMAREX ENERGY COCOM0.02%$276,00016.4K
47EQTEQT CORPORATIONCOM0.02%$273,00038.6K
48WPX ENERGY INCCOM0.01%$224,00073.4K
49DVNDEVON ENERGY CORP NEWCOM0.01%$217,00031.4K
50MARATHON OIL CORPCOM0.01%$214,00065.2K
51FTITECHNIPFMC PLCCOM0.01%$201,00029.8K
52SLBSCHLUMBERGER LTDCOM0.01%$150,00011.1K
53OXYOCCIDENTAL PETE CORPCOM0.01%$136,00011.7K
54HALHALLIBURTON COCOM0.01%$135,00019.7K
55GELGENESIS ENERGY L PUNIT LTD PARTN0.01%$133,00033.8K
56APERGY CORPCOM0.01%$83,00014.5K
57PBFPBF ENERGY INCCL A0.01%$81,00011.5K
58APACHE CORPCOM0.00%$62,00014.9K
59NGLNGL ENERGY PARTNERS LPCOM UNIT REPST0.00%$43,00016.3K

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 ↗
Q4 2018$3.7B57Feb 13, 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 ↗.