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SCA
Salient Capital Advisors Portfolio holdings
AUM
$1.74B
1-Year Est. Return
12.95%
This Fund
S&P 500
This Quarter
Est. Return
-5.86%
1 Year Est. Return
+12.95%
3 Year Est. Return
+57.33%
5 Year Est. Return
+42.78%
10 Year Est. Return
–
AUM
$3.76B
AUM Growth
-$351M
(-8.5%)
Cap. Flow
+$136M
Cap. Flow
% of AUM
3.6%
Top 10 Holdings %
Top 10 Hldgs %
42.47%
Holding
293
New
45
Increased
82
Reduced
93
Closed
35
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
WPZ
Williams Partners L.P.
WPZ
|
+$65.1M |
| 2 |
Plains GP Holdings
PAGP
|
+$55.8M |
| 3 |
MPLX
MPLX
|
+$52.2M |
| 4 |
ETP
Energy Transfer Partners, L.P.
ETP
|
+$42M |
| 5 |
Plains All American Pipeline
PAA
|
+$41.4M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Kinder Morgan
KMI
|
+$113M |
| 2 |
Enterprise Products Partners
EPD
|
+$77.1M |
| 3 |
Williams Companies
WMB
|
+$32.3M |
| 4 |
Teekay
TK
|
+$27M |
| 5 |
SMC
Summit Midstream
SMC
|
+$26.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 76.24% |
| 2 | Industrials | 2.68% |
| 3 | Consumer Staples | 1.63% |
| 4 | Technology | 1.07% |
| 5 | Utilities | 1.02% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Enterprise Products Partners
EPD
$83.7B
| $254M | 6.76% |
9,940,372
-2,967,048
| -23% | -$77.1M |
|
|
SHLX
2
DELISTED
Shell Midstream Partners, L.P.
SHLX
| $186M | 4.93% |
4,470,521
+1,113,089
| +33% | +$39M |
|
3
Energy Transfer Partners
ET
$69.5B
| $173M | 4.59% |
12,559,751
+1,758,453
| +16% | +$32.9M |
|
|
MMP
4
DELISTED
Magellan Midstream Partners, L.P.
MMP
| $169M | 4.49% |
2,485,781
-188,468
| -7% | -$12.2M |
|
5
Western Midstream Partners
WES
$19.4B
| $161M | 4.28% |
4,433,023
+286,325
| +7% | +$11.4M |
|
|
6
Plains GP Holdings
PAGP
$5.28B
| $150M | 3.99% |
5,964,618
+1,593,134
| +36% | +$55.8M |
|
7
Oneok
OKE
$56.7B
| $148M | 3.93% |
5,989,377
+1,361,034
| +29% | +$40.8M |
|
|
8
MPLX
MPLX
$58.6B
| $124M | 3.3% |
3,154,564
+1,382,248
| +78% | +$52.2M |
|
|
TEP
9
DELISTED
Tallgrass Energy Partners, LP
TEP
| $120M | 3.2% |
2,921,011
+152,896
| +6% | +$6.44M |
|
|
TGE
10
DELISTED
Tallgrass Energy, LP Class A Shares
TGE
| $113M | 3.01% |
7,101,928
+1,075,198
| +18% | +$21.9M |
|
|
EQM
11
DELISTED
EQM Midstream Partners, LP
EQM
| $111M | 2.96% |
1,476,900
+60,482
| +4% | +$4.3M |
|
12
Targa Resources
TRGP
$56.8B
| $106M | 2.81% |
3,909,747
-483,281
| -11% | -$21.4M |
|
|
13
Williams Companies
WMB
$85.8B
| $106M | 2.81% |
4,112,077
-923,679
| -18% | -$32.3M |
|
|
ETP
14
DELISTED
Energy Transfer Partners, L.P.
ETP
| $101M | 2.7% |
3,948,422
+1,516,005
| +62% | +$42M |
|
|
AM
15
DELISTED
ANTERO MIDSTREAM PARTNERS LP
AM
| $94.9M | 2.52% |
4,156,893
-640,695
| -13% | -$14.3M |
|
|
EEQ
16
DELISTED
Enbridge Energy Management Llc
EEQ
| $94.6M | 2.51% |
5,700,965
+662,484
| +13% | +$12M |
|
17
Genesis Energy
GEL
$1.82B
| $90.9M | 2.42% |
2,474,648
+470,727
| +23% | +$18.3M |
|
|
18
Plains All American Pipeline
PAA
$17.6B
| $87.9M | 2.34% |
3,805,749
+1,536,424
| +68% | +$41.4M |
|
|
ENLK
19
DELISTED
EnLink Midstream Partners, LP
ENLK
| $86M | 2.28% |
5,184,008
+386,213
| +8% | +$6.25M |
|
|
SMC
20
Summit Midstream
SMC
$420M
| $72.9M | 1.94% |
259,559
-99,368
| -28% | -$26.9M |
|
21
NGL Energy Partners
NGL
$1.94B
| $69.8M | 1.86% |
6,296,763
+776,104
| +14% | +$12.5M |
|
|
MIC
22
DELISTED
Macquarie Infrastructure Holdings, LLC
MIC
| $67.2M | 1.79% |
925,853
-851
| -0.1% | -$63.6K |
|
|
SE
23
DELISTED
Spectra Energy Corp Wi
SE
| $66M | 1.75% |
2,755,732
-152,493
| -5% | -$4.05M |
|
|
EQGP
24
DELISTED
EQGP Holdings, LP
EQGP
| $61.6M | 1.64% |
2,968,207
-76,540
| -3% | -$1.81M |
|
|
WPZ
25
DELISTED
Williams Partners L.P.
WPZ
| $61.5M | 1.63% |
2,206,753
+2,169,975
| +5,900% | +$65.1M |
|
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Salient Capital Advisors's Q4 2015 Portfolio in Review
As of Q4 2015, Salient Capital Advisors held 293 positions worth $3.76B, down 8.5% from $4.11B the previous quarter. Its ten largest holdings account for 42% of the portfolio.
Salient Capital Advisors deployed $136M of net new capital in Q4 2015, opening 45 new positions and adding to 82 existing holdings. Its largest new stake was Rice Midstream Partners LP: 2,503,626 shares worth $33.8M.
By sector, the portfolio is most concentrated in Energy at 76% of assets, down from 79% a quarter earlier, followed by Industrials and Consumer Staples.
On the sell side, the largest reduction was Kinder Morgan, an estimated $113M trimmed.
- Salient Capital Advisors's largest Q4 2015 buy was Rice Midstream Partners LP: 2,503,626 shares worth $33.8M.
- Salient Capital Advisors added most to Williams Partners L.P. in Q4 2015, an estimated $65.1M increase.
- Salient Capital Advisors's biggest Q4 2015 reduction was Kinder Morgan, cutting an estimated $113M.
- Salient Capital Advisors fully exited Teekay in Q4 2015, selling an estimated $27M.
- Salient Capital Advisors's ten largest holdings make up 42% of its $3.76B portfolio in Q4 2015.
- Salient Capital Advisors opened 45 new positions and closed 35 in Q4 2015.
- Salient Capital Advisors's portfolio value fell 8.5% quarter-over-quarter to $3.76B.
Based on Salient Capital Advisors's 13F filing for Q4 2015, filed 11 Feb 2016.