SEC 13F Intelligence

Managers / Q2 2020 · view latest →

Salient Capital Advisors, LLC

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

Reported Value
$2.1B
Q2 2020
Positions
64
Filings on Record
17
2019–present window
Filed
Aug 13, 2020
original filing

Summary

Salient Capital Advisors, LLC reported $2.1B in U.S.-listed holdings across 64 positions for Q2 2020.

Its largest position, EPD, represents 9.8% of the portfolio.

Compared with Q1 2020, the fund opened 15 new positions and exited 10.

Portfolio Metrics

Turnover
+13.7%
vs prior filed quarter
Top-10 Concentration
+76.2%
share of reported value
Largest Position
+9.8%
Enterprise Prods Partners L
New / Exited
15 / 10
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: 65.0%MLP: 32.0%Ltd Part: 2.7%Unit: 0.2%Other: 0.1%
  • Common Stock · 65.0% · $1.3B
  • MLP · 32.0% · $662M
  • Ltd Part · 2.7% · $56M
  • Unit · 0.2% · $3M
  • Other · 0.1% · $2M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NUSTAR ENERGY LPNEW+979.9K979.9K+$14M$14M
RATTLER MIDSTREAM LPNEW+1.40M1.40M+$14M$14M
WESWESTERN MIDSTREAM PARTNERS LNEW+1.04M1.04M+$10M$10M
ENLINK MIDSTREAM LLCNEW+1.29M1.29M+$3M$3M
HESMHESS MIDSTREAM LPNEW+161.5K161.5K+$3M$3M
BP MIDSTREAM PARTNERS LPNEW+170.0K170.0K+$2M$2M
NOBLE MIDSTREAM PARTNERS LPNEW+166.9K166.9K+$1M$1M
PBF LOGISTICS LPNEW+118.5K118.5K+$1M$1M

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

Holdings — Q2 2020

64 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1EPDENTERPRISE PRODS PARTNERS Lhistory →COM9.82%$203M11.18M
2ENBENBRIDGE INChistory →COM8.96%$185M6.03M
3WMBWILLIAMS COS INChistory →COM8.95%$185M9.73M
4TRPTC ENERGY CORPhistory →COM8.06%$167M3.87M
5KMIKINDER MORGAN INC DELhistory →COM7.93%$164M10.80M
6OKEONEOK INC NEWhistory →COM7.71%$159M4.80M
7ETENERGY TRANSFER LPhistory →COM UT LTD PTN7.67%$159M22.29M
8PBAPEMBINA PIPELINE CORPhistory →COM6.43%$133M5.22M
9LNGCHENIERE ENERGY INChistory →COM NEW6.38%$132M2.73M
10TRGPTARGA RES CORPhistory →COM4.28%$89M4.41M
11MAGELLAN MIDSTREAM PRTNRS LPCOM UNIT RP LP3.67%$76M1.76M
12MPLXMPLX LPhistory →COM UNIT REP LTD3.50%$72M4.19M
13EQUITRANS MIDSTREAM CORPCOM3.34%$69M8.30M
14PAAPLAINS ALL AMERN PIPELINE Lhistory →UNIT LTD PARTN3.13%$65M7.32M
15PAGPPLAINS GP HLDGS L Phistory →LTD PARTNR INT A2.07%$43M4.82M
16PHILLIPS 66 PARTNERS LPCOM UNIT REP INT1.30%$27M743.1K
17AMANTERO MIDSTREAM CORPhistory →COM1.25%$26M5.07M
18GELGENESIS ENERGY L Phistory →UNIT LTD PARTN0.71%$15M2.05M
19NUSTAR ENERGY LPUNIT COM0.68%$14M979.9K
20RATTLER MIDSTREAM LPCOM UNITS0.66%$14M1.40M
21SHELL MIDSTREAM PARTNERS L PUNIT LTD INT0.60%$12M1.02M
22WESWESTERN MIDSTREAM PARTNERS Lhistory →COM UNIT LP INT0.50%$10M1.04M
23XIFRNEXTERA ENERGY PARTNERS LPCOM UNIT PART IN0.43%$9M173.5K
24MACQUARIE INFRASTRUCTURE CORCOM0.31%$7M211.8K
25ENLINK MIDSTREAM LLCCOM UNIT REP LTD0.15%$3M1.29M
26HESMHESS MIDSTREAM LPCL A SHS0.14%$3M161.5K
27CQPCHENIERE ENERGY PARTNERS LPCOM UNIT0.13%$3M75.3K
28BP MIDSTREAM PARTNERS LPUNIT LTD PTNR0.09%$2M170.0K
29NOBLE MIDSTREAM PARTNERS LPCOM UNIT REPST0.07%$1M166.9K
30PBF LOGISTICS LPUNIT LTD PTNR0.06%$1M118.5K
31ENVIVA PARTNERS LPCOM UNIT0.05%$1M28.6K
32MPCMARATHON PETE CORPCOM0.05%$1M27.5K
33TC PIPELINES LPUT COM LTD PRT0.04%$859,00027.7K
34PIONEER NAT RES COCOM0.04%$847,0008.7K
35WPX ENERGY INCCOM0.04%$841,000131.8K
36PARSLEY ENERGY INCCL A0.04%$833,00078.0K
37HESHESS CORPCOM0.04%$811,00015.7K
38NOBLE ENERGY INCCOM0.04%$797,00089.0K
39FANGDIAMONDBACK ENERGY INCCOM0.04%$790,00018.9K
40COPCONOCOPHILLIPSCOM0.04%$778,00018.5K
41CONCHO RES INCCOM0.04%$765,00014.8K
42EOGEOG RES INCCOM0.04%$762,00015.0K
43APACHE CORPCOM0.03%$703,00052.1K
44CHAMPIONX CORPORATIONCOM0.03%$681,00069.7K
45ENABLE MIDSTREAM PARTNERS LPCOM UNIT RP IN0.03%$643,000137.4K
46CIMAREX ENERGY COCOM0.03%$627,00022.8K
47VLOVALERO ENERGY CORPCOM0.03%$623,00010.6K
48DVNDEVON ENERGY CORP NEWCOM0.03%$619,00054.6K
49EXMOCEXXON MOBIL CORPCOM0.03%$591,00013.2K
50CVXCHEVRON CORP NEWCOM0.03%$569,0006.4K
51PSXPHILLIPS 66COM0.03%$567,0007.9K
52DCP MIDSTREAM LLCCOM UT LTD PTN0.03%$553,00048.9K
53HOLLY ENERGY PARTNERS L PCOM UT LTD PTN0.02%$485,00033.2K
54HOLLYFRONTIER CORPCOM0.02%$416,00014.2K
55PBFPBF ENERGY INCCL A0.02%$411,00040.1K
56MARATHON OIL CORPCOM0.02%$399,00065.2K
57BKRBAKER HUGHES COMPANYCL A0.02%$392,00025.5K
58OVVOVINTIV INCCOM0.02%$377,00039.4K
59FTITECHNIPFMC PLCCOM0.02%$355,00051.9K
60EQTEQT CORPCOM0.02%$345,00029.0K
61CRESTWOOD EQUITY PARTNERS LPUNIT LTD PARTNER0.02%$344,00026.2K
62NGLNGL ENERGY PARTNERS LPCOM UNIT REPST0.02%$317,00081.2K
63CTRACABOT OIL GAS CORPCOM0.01%$278,00016.2K
64HALHALLIBURTON COCOM0.01%$229,00017.6K

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 ↗.