Infrastructure Capital Advisors, LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Infrastructure Capital Advisors, LLC reported 124 stock positions worth $703.8 million. Its top holding was Energy Transfer (ET) at 11.6% of the portfolio, followed by Plains All Amer Pipeline (PAA, 9.8%) and Sunoco (SUN, 9.0%). Compared with Q4 2025, it opened 19 new positions, sold out of 22, added to 73 and reduced 29. The biggest buy was Energy Transfer (ET, shares +40%) and the biggest sale Hess Midstream Class A (HESM, shares −52%).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001621802
- Portfolio Value
- $703.8M (Q1 2026)
- SEC Filing
- 0000919574-26-003545 ↗ filed May 15, 2026
Holdings Value
Holdings 124 stocks · $703.8M
| ET Energy Transfer LP | 11.64% | 4,243,763 | $81.9M | Add +40.2% |
| PAA Plains All Amer Pipeline LP | 9.80% | 3,089,992 | $69.0M | Add +4.4% |
| SUN Sunoco LP | 8.98% | 972,935 | $63.2M | Add +34.1% |
| MPLX MPLX LP | 8.66% | 1,068,251 | $61.0M | Add +2.9% |
| EPD Enterprise Products Partners | 8.32% | 1,548,308 | $58.6M | Add +15.5% |
| WES Western Midstream Partners L | 7.22% | 1,234,879 | $50.8M | Add +6.7% |
| HESM Hess Midstream LP Class A | 3.69% | 668,739 | $26.0M | Reduce -51.6% |
| TRGP Targa Resources Corp. | 3.33% | 93,591 | $23.5M | Add +4.6% |
| LNG Cheniere Energy Inc. | 3.31% | 82,190 | $23.3M | Reduce -31.0% |
| WMB Williams Cos Inc. | 3.12% | 302,076 | $22.0M | Add +12.1% |
| KMI Kinder Morgan Inc. | 2.64% | 554,397 | $18.6M | Reduce -9.3% |
| GTLS Chart Industries Inc. | 2.15% | 73,205 | $15.1M | Add +9.9% |
| CQP Cheniere Energy Partners LP | 2.08% | 226,611 | $14.6M | Add +43.3% |
| GEL Genesis Energy L.P. | 1.60% | 631,861 | $11.3M | Add +2.4% |
| USAC USA Compression Partners LP | 1.21% | 314,657 | $8.5M | Add +2.4% |
| OKE Oneok Inc. | 1.17% | 91,229 | $8.2M | Reduce -36.3% |
| DKL Delek Logistics Partners LP | 1.11% | 156,476 | $7.8M | Add +2.4% |
| AMZN Amazon.com Inc. | 0.96% | 32,415 | $6.8M | Add +92.1% |
| MRVL Marvell Technology Inc. | 0.87% | 61,841 | $6.1M | Add +14.2% |
| MPC Marathon Petroleum Corp. | 0.85% | 24,604 | $6.0M | Reduce -12.3% |
| PFFA Virtus Infracap US Pref STCK | 0.84% | 289,221 | $5.9M | No change |
| TRP TC Energy Corp. | 0.81% | 91,257 | $5.7M | Add +265.0% |
| CFG Citizens Financial Group | 0.70% | 82,212 | $4.9M | Add +83.8% |
| GLP Global Partners LP | 0.66% | 110,208 | $4.6M | Add +2.4% |
| CELH Celsius Holdings Inc. | 0.62% | 122,534 | $4.3M | Add +94.8% |
| TOL Toll Brothers Inc. | 0.61% | 31,226 | $4.3M | New |
| KKR KKR & Co. Inc. | 0.56% | 42,474 | $3.9M | Add +25.1% |
| NEE Nextera Energy Inc. | 0.53% | 39,920 | $3.7M | Add +13.9% |
| GS Goldman Sachs Group Inc. | 0.50% | 4,142 | $3.5M | Add +409.5% |
| APO Apollo Global Management Inc. | 0.47% | 29,938 | $3.3M | Add +23.6% |
| LEN Lennar Corp. Class A | 0.41% | 32,881 | $2.9M | New |
| META Meta Platforms Inc. Class A | 0.39% | 4,815 | $2.8M | Reduce -7.9% |
| PSX Phillips 66 | 0.38% | 14,865 | $2.7M | Reduce -66.0% |
| MRK Merck & Co. Inc. | 0.38% | 21,977 | $2.6M | Add +46.4% |
| NVDA Nvidia Corp. | 0.37% | 14,999 | $2.6M | Add +116.5% |
| FCX Freeport-McMoran Inc. | 0.30% | 36,273 | $2.1M | Reduce -43.5% |
| MSFT Microsoft Corp. | 0.30% | 5,720 | $2.1M | Add +356.9% |
| XEL Xcel Energy Inc. | 0.29% | 25,438 | $2.0M | Add +23.6% |
| VST Vistra Corp. | 0.28% | 13,107 | $2.0M | Add +23.5% |
| ZION Zions Bancorp NA | 0.28% | 34,089 | $2.0M | New |
| KRC Kilroy Realty Corp. | 0.26% | 65,326 | $1.8M | Add +22.9% |
| DINO HF Sinclair Corp. | 0.26% | 28,966 | $1.8M | New |
| AMZA Infracap MLP ETF | 0.25% | 38,787 | $1.8M | No change |
| VLO Valero Energy Corp. | 0.22% | 6,374 | $1.6M | Reduce -69.8% |
| BXP BXP Inc. | 0.22% | 30,261 | $1.6M | Add +65.1% |
| MS Morgan Stanley | 0.21% | 8,957 | $1.5M | Add +637.2% |
| PM Philip Morris International | 0.20% | 8,352 | $1.4M | Reduce -45.6% |
| CTRA Coterra Energy Inc. | 0.19% | 37,334 | $1.3M | Add +59.6% |
| KHC The Kraft Heinz Co. | 0.18% | 56,230 | $1.3M | Add +23.6% |
| LNT Alliant Energy Corp. | 0.18% | 17,492 | $1.3M | Add +23.5% |
| REXR Rexford Industrial Realty Inc. | 0.18% | 37,999 | $1.2M | Add +23.6% |
| BX Blackstone Inc. | 0.17% | 10,488 | $1.2M | Add +23.6% |
| VZ Verizon Communications Inc. | 0.17% | 23,742 | $1.2M | Add +23.5% |
| CCI Crown Castle Inc. | 0.15% | 12,721 | $1.0M | Add +62.0% |
| AVGO Broadcom Inc. | 0.15% | 3,323 | $1.0M | Add +21.7% |
| SCAP Infrastructure Capital Small | 0.14% | 28,464 | $992K | Add +6.8% |
| USB US Bancorp | 0.14% | 18,693 | $972K | Reduce -11.8% |
| FITB Fifth Third Bancorp | 0.14% | 20,752 | $964K | Add +23.5% |
| KO The Coca-Cola Co. | 0.13% | 12,020 | $914K | Add +103.8% |
| LMT Lockheed Martin Corp. | 0.13% | 1,512 | $914K | Add +194.2% |
| KVUE Kenvue Inc. | 0.13% | 52,501 | $905K | Reduce -61.5% |
| SNEX Stonex Group Inc. | 0.12% | 10,284 | $829K | Add +65.5% |
| TPG TPG Inc. | 0.12% | 20,321 | $823K | Add +4.5% |
| PEP Pepsico Inc. | 0.11% | 5,164 | $802K | Reduce -63.3% |
| SAFE Safehold Inc. | 0.11% | 57,833 | $782K | Add +23.6% |
| EWBC East West Bancorp Inc. | 0.11% | 7,085 | $756K | Add +15.5% |
| NTB Bank of N.T. Butterfield&son | 0.10% | 13,714 | $720K | Add +6.2% |
| CAT Caterpillar Inc. | 0.10% | 1,013 | $718K | Reduce -67.3% |
| HII Huntington Ingalls Industrie | 0.10% | 1,850 | $703K | New |
| DHI D.R. Horton Inc. | 0.10% | 5,111 | $701K | New |
| GNL Global Net Lease Inc. | 0.09% | 68,204 | $638K | Reduce -87.8% |
| WYNN WYNN Resorts Ltd. | 0.09% | 6,039 | $613K | Add +15.5% |
| VG Venture Global Inc. Class A | 0.09% | 38,447 | $606K | Reduce -45.4% |
| OTTR Otter Tail Corp. | 0.08% | 6,794 | $596K | Add +15.5% |
| BHF Brighthouse Financial Inc. | 0.08% | 9,937 | $595K | New |
| NWE Northwestern Energy Group Inc. | 0.08% | 8,650 | $570K | Add +15.5% |
| SARO Standardaero Inc. | 0.08% | 22,008 | $568K | Reduce -7.9% |
| EIX Edison International | 0.08% | 7,748 | $567K | Reduce -69.9% |
| HALO Halozyme Therapeutics Inc. | 0.08% | 8,434 | $545K | Add +15.5% |
| MOG.A Moog Inc. Class A | 0.08% | 1,850 | $541K | New |
| ICAP Infrastructure Capital Equit | 0.08% | 20,393 | $537K | Reduce -26.3% |
| BHR Braemar Hotels & Resorts Inc. | 0.08% | 224,658 | $530K | Add +15.6% |
| KBH KB Home | 0.07% | 10,130 | $524K | New |
| NYT New York Times Co. Class A | 0.07% | 6,082 | $508K | Reduce -13.1% |
| PFBC Preferred Bank/Los Angeles | 0.07% | 5,513 | $500K | Add +15.6% |
| BPOP Popular Inc. | 0.07% | 3,726 | $500K | Add +15.4% |
| FSLR First Solar Inc. | 0.07% | 2,531 | $499K | Add +22.7% |
| OKTA Okta Inc. | 0.07% | 5,948 | $468K | Add +15.5% |
| T AT&T Inc. | 0.06% | 15,518 | $450K | Add +23.6% |
| GEV GE Vernova Inc. | 0.06% | 501 | $437K | Reduce -61.5% |
| AGNC AGNC Investment Corp. | 0.06% | 42,072 | $422K | Add +15.6% |
| WU Western Union Co. | 0.06% | 46,387 | $405K | Add +15.6% |
| MKSI MKS Inc. | 0.06% | 1,750 | $402K | Reduce -51.0% |
| MSDL Morgan Stanley Direct Lendin | 0.05% | 26,001 | $363K | Add +160.0% |
| ASIX Advansix Inc. | 0.05% | 14,748 | $360K | Add +15.5% |
| DKNG Draftkings Inc. Class A | 0.05% | 16,493 | $357K | Add +33.0% |
| AVNT Avient Corp. | 0.05% | 9,568 | $347K | Add +15.6% |
| SO The Southern Co. | 0.05% | 3,305 | $319K | Reduce -61.6% |
| GDDY GoDaddy Inc. Class A | 0.05% | 3,851 | $318K | Add +97.5% |
| LAZ Lazard Inc. | 0.04% | 7,391 | $314K | Add +15.5% |
Options reported separately and not counted above: SPY calls ($357.7M), KKR calls ($5.9M), AMZN calls ($3.9M), MRVL calls ($2.1M), TSLA calls ($818K).
Other holdings (20): bonds, preferreds, convertibles and warrants · $361.7M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| ENERGY TRANSFER LP (ET 9.25 PERP I) | 9.250% FXD PFD I | 5,011,646 | $58.0M | New |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | 1,916,768 | $46.2M | Add +8.1% |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | 1,090,186 | $43.8M | Reduce -2.4% |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | 1,108,811 | $43.0M | Add +5.4% |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | 676,299 | $39.5M | Reduce -12.9% |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | 526,230 | $37.8M | Add +1064.7% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | 933,282 | $18.0M | Add +10.0% |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | 465,201 | $16.8M | Add +33.0% |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | 153,001 | $10.8M | Add +9.9% |
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | 601,124 | $8.7M | Add +10.7% |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | 120,482 | $7.7M | Reduce -70.8% |
| RITHM PROPERTY TRUST (RPT V9.875 PERP) | 9.875 FXD-FLT C | 245,237 | $6.1M | New |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | 73,164 | $4.7M | Add +10.1% |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | 200,427 | $3.9M | Add +13.4% |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | 90,118 | $3.7M | New |
| NEXTERA ENERGY INC (NEE 7.375 02/15/29) | UNIT 02/15/2029 | 67,913 | $3.4M | New |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | 100,124 | $3.0M | Reduce -17.6% |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | 65,746 | $2.9M | New |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | 58,957 | $2.7M | Add +9.9% |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | 18,489 | $795K | Reduce -5.9% |
Total filed on the 13F, all lines: $1.1B.
Portfolio Sells Q4 2025 → Q1 2026
| HESM Hess Midstream LP Class A | Reduce -51.6% | 3.69% | −4.16 |
| KNTK Kinetik Holdings Inc. | Reduce -98.1% | 0.03% | −1.50 |
| GNL Global Net Lease Inc. | Reduce -87.8% | 0.09% | −0.70 |
| MCD McDonald's Corp. | Sold out | 0.00% | −0.60 |
| OKE Oneok Inc. | Reduce -36.3% | 1.17% | −0.56 |
| PSX Phillips 66 | Reduce -66.0% | 0.38% | −0.54 |
| LNG Cheniere Energy Inc. | Reduce -31.0% | 3.31% | −0.50 |
| C Citigroup Inc. | Sold out | 0.00% | −0.37 |
| VLO Valero Energy Corp. | Reduce -69.8% | 0.22% | −0.34 |
| CVX Chevron Corp. | Reduce -93.1% | 0.03% | −0.33 |
| JNJ Johnson & Johnson | Sold out | 0.00% | −0.27 |
| KVUE Kenvue Inc. | Reduce -61.5% | 0.13% | −0.26 |
| FCX Freeport-McMoran Inc. | Reduce -43.5% | 0.30% | −0.23 |
| PEP Pepsico Inc. | Reduce -63.3% | 0.11% | −0.22 |
| HON Honeywell International Inc. | Sold out | 0.00% | −0.21 |
| PM Philip Morris International | Reduce -45.6% | 0.20% | −0.21 |
| CAT Caterpillar Inc. | Reduce -67.3% | 0.10% | −0.19 |
| META Meta Platforms Inc. Class A | Reduce -7.9% | 0.39% | −0.18 |
| EIX Edison International | Reduce -69.9% | 0.08% | −0.17 |
| MTB M & T Bank Corp. | Sold out | 0.00% | −0.17 |
| O Realty Income Corp. | Sold out | 0.00% | −0.16 |
| TFC Truist Financial Corp. | Sold out | 0.00% | −0.15 |
| SPH Suburban Propane Partners LP | Sold out | 0.00% | −0.14 |
| NWN Northwest Natural Holding Co. | Sold out | 0.00% | −0.13 |
| KMI Kinder Morgan Inc. | Reduce -9.3% | 2.64% | −0.13 |
| CSCO Cisco Systems Inc. | Sold out | 0.00% | −0.12 |
| DLR Digital Realty Trust Inc. | Sold out | 0.00% | −0.09 |
| XOM Exxon Mobil Corp. | Reduce -76.4% | 0.03% | −0.09 |
| LYFT LYFT Inc. Class A | Sold out | 0.00% | −0.08 |
| SPXC SPX Technologies Inc. | Sold out | 0.00% | −0.08 |
| SO The Southern Co. | Reduce -61.6% | 0.05% | −0.08 |
| GEV GE Vernova Inc. | Reduce -61.5% | 0.06% | −0.08 |
| NVT Nvent Electric PLC | Sold out | 0.00% | −0.08 |
| IWM iShares Russell 2000 ETF | Sold out | 0.00% | −0.07 |
| CASY Casey's General Stores Inc. | Reduce -64.5% | 0.04% | −0.06 |
| IBM Intl Business Machines Corp. | Sold out | 0.00% | −0.06 |
| BAC Bank of America Corp. | Sold out | 0.00% | −0.05 |
| ICAP Infrastructure Capital Equit | Reduce -26.3% | 0.08% | −0.05 |
| USB US Bancorp | Reduce -11.8% | 0.14% | −0.05 |
| EQX Equinox Gold Corp. | Reduce -59.1% | 0.03% | −0.05 |
| CHRD Chord Energy Corp. | Reduce -61.8% | 0.04% | −0.04 |
| RRR Red Rock Resorts Inc. Class A | Sold out | 0.00% | −0.04 |
| MKSI MKS Inc. | Reduce -51.0% | 0.06% | −0.04 |
| AAPL Apple Inc. | Sold out | 0.00% | −0.04 |
| LLY Eli Lilly & Co. | Sold out | 0.00% | −0.04 |
| ORCL Oracle Corp. | Sold out | 0.00% | −0.03 |
| SARO Standardaero Inc. | Reduce -7.9% | 0.08% | −0.03 |
| NYT New York Times Co. Class A | Reduce -13.1% | 0.07% | −0.01 |
| MSTR Strategy Inc. | Sold out | 0.00% | 0.00 |
| VG Venture Global Inc. Class A | Reduce -45.4% | 0.09% | +0.01 |
Portfolio Buys Q4 2025 → Q1 2026
| ET Energy Transfer LP | Add +40.2% | 11.64% | +3.41 |
| SUN Sunoco LP | Add +34.1% | 8.98% | +2.71 |
| EPD Enterprise Products Partners | Add +15.5% | 8.32% | +1.24 |
| PAA Plains All Amer Pipeline LP | Add +4.4% | 9.80% | +1.04 |
| CQP Cheniere Energy Partners LP | Add +43.3% | 2.08% | +0.69 |
| TRGP Targa Resources Corp. | Add +4.6% | 3.33% | +0.61 |
| TOL Toll Brothers Inc. | New | 0.61% | +0.61 |
| TRP TC Energy Corp. | Add +265.0% | 0.81% | +0.58 |
| WMB Williams Cos Inc. | Add +12.1% | 3.12% | +0.45 |
| LEN Lennar Corp. Class A | New | 0.41% | +0.41 |
| GS Goldman Sachs Group Inc. | Add +409.5% | 0.50% | +0.38 |
| AMZN Amazon.com Inc. | Add +92.1% | 0.96% | +0.32 |
| ZION Zions Bancorp NA | New | 0.28% | +0.28 |
| CFG Citizens Financial Group | Add +83.8% | 0.70% | +0.27 |
| DINO HF Sinclair Corp. | New | 0.26% | +0.26 |
| MSFT Microsoft Corp. | Add +356.9% | 0.30% | +0.20 |
| MS Morgan Stanley | Add +637.2% | 0.21% | +0.17 |
| NVDA Nvidia Corp. | Add +116.5% | 0.37% | +0.15 |
| CELH Celsius Holdings Inc. | Add +94.8% | 0.62% | +0.14 |
| MRK Merck & Co. Inc. | Add +46.4% | 0.38% | +0.12 |
| MRVL Marvell Technology Inc. | Add +14.2% | 0.87% | +0.11 |
| HII Huntington Ingalls Industrie | New | 0.10% | +0.10 |
| DHI D.R. Horton Inc. | New | 0.10% | +0.10 |
| LMT Lockheed Martin Corp. | Add +194.2% | 0.13% | +0.09 |
| CTRA Coterra Energy Inc. | Add +59.6% | 0.19% | +0.08 |
| BHF Brighthouse Financial Inc. | New | 0.08% | +0.08 |
| MOG.A Moog Inc. Class A | New | 0.08% | +0.08 |
| KBH KB Home | New | 0.07% | +0.07 |
| NEE Nextera Energy Inc. | Add +13.9% | 0.53% | +0.06 |
| KO The Coca-Cola Co. | Add +103.8% | 0.13% | +0.06 |
| USAC USA Compression Partners LP | Add +2.4% | 1.21% | +0.05 |
| VZ Verizon Communications Inc. | Add +23.5% | 0.17% | +0.04 |
| JNK SS SPDR BB High Yield Bond | New | 0.04% | +0.04 |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | New | 0.04% | +0.04 |
| VIAV Viavi Solutions Inc. | New | 0.04% | +0.04 |
| RRX Regal Rexnord Corp. | New | 0.04% | +0.04 |
| GLD SPDR Gold Shares | New | 0.04% | +0.04 |
| XEL Xcel Energy Inc. | Add +23.6% | 0.29% | +0.04 |
| AMD Advanced Micro Devices | New | 0.03% | +0.03 |
| FROG Jfrog Ltd. | New | 0.03% | +0.03 |
| CCI Crown Castle Inc. | Add +62.0% | 0.15% | +0.03 |
| SEE Sealed Air Corp. | New | 0.03% | +0.03 |
| HBM Hudbay Minerals Inc. | New | 0.03% | +0.03 |
| LNT Alliant Energy Corp. | Add +23.5% | 0.18% | +0.03 |
| MSDL Morgan Stanley Direct Lendin | Add +160.0% | 0.05% | +0.02 |
| SNEX Stonex Group Inc. | Add +65.5% | 0.12% | +0.02 |
| BXP BXP Inc. | Add +65.1% | 0.22% | +0.02 |
| ASIX Advansix Inc. | Add +15.5% | 0.05% | +0.01 |
| FSK FS KKR Capital Corp. | New | 0.01% | +0.01 |
| GEL Genesis Energy L.P. | Add +2.4% | 1.60% | +0.01 |
Options Activity Q4 2025 → Q1 2026
| SPY SS SPDR S&P 500 ETF Trust-US | call | Add +266.7% | 550,000 | $357.7M |
| QQQ Invesco QQQ Trust Series 1 | call | Sold out | 25,000 | $15.4Mbefore exit |
| KKR KKR & Co. Inc. | call | Add +1500.0% | 64,000 | $5.9M |
| AMZN Amazon.com Inc. | call | New | 11,000 | $3.9M |
| IWM iShares Russell 2000 ETF | call | Sold out | 10,000 | $2.5Mbefore exit |
| MRVL Marvell Technology Inc. | call | New | 21,000 | $2.1M |
| MSTR Strategy Inc. | call | Sold out | 6,000 | $912Kbefore exit |
| TSLA Tesla Inc. | call | Reduce -72.5% | 2,200 | $818K |
| APO Apollo Global Management Inc. | call | Sold out | 4,000 | $579Kbefore exit |
| ORCL Oracle Corp. | call | Sold out | 1,000 | $195Kbefore exit |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| ENERGY TRANSFER LP (ET 9.25 PERP I) | 9.250% FXD PFD I | New | 5,011,646 | $58.0M |
| RLJ LODGING TRUST (RLJ 1.95 PERP A) | CUM CONV PFD A | Add +8.1% | 1,916,768 | $46.2M |
| KKR & CO INC (KKR 6.25 03/01/28 D) | 6.25 CON SER D | Reduce -2.4% | 1,090,186 | $43.8M |
| FLAGSTAR BANK NA (FLG 6 11/01/51) | UNIT 05/07/2051 | Add +5.4% | 1,108,811 | $43.0M |
| APOLLO GLOBAL MANAGEMENT (APO 6.75 07/31/26) | SER A MAND CNV | Reduce -12.9% | 676,299 | $39.5M |
| ALBEMARLE CORP (ALB 7.25 03/01/27) | 7.25% DEP SHS A | Add +1064.7% | 526,230 | $37.8M |
| PEBBLEBROOK HOTEL TRUST (PEB 6.3 PERP F) | 6.3 CUM PFD SR F | Add +10.0% | 933,282 | $18.0M |
| ARES MANAGEMENT CORP (ARES 6.75 10/01/27 B) | 6.75 SE B PFD | Add +33.0% | 465,201 | $16.8M |
| STRATEGY INC (MSTR 8 PERP) | SERIES A PERP PF | Add +9.9% | 153,001 | $10.8M |
| BRAEMAR HOTELS & RESORTS (BHR 5.5 PERP b) | 5.5 CUM CV PFD B | Add +10.7% | 601,124 | $8.7M |
| BOEING CO/THE (BA 6 10/15/27) | DEP CONV PFD A | Reduce -70.8% | 120,482 | $7.7M |
| RITHM PROPERTY TRUST (RPT V9.875 PERP) | 9.875 FXD-FLT C | New | 245,237 | $6.1M |
| HP ENTERPRISE CO (HPE 7.625 09/01/27) | 7.625 MAND CONV | Add +10.1% | 73,164 | $4.7M |
| PEBBLEBROOK HOTEL TRUST (PEB 6.375 PERP E) | 6.375 PFD SER E | Add +13.4% | 200,427 | $3.9M |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | New | 90,118 | $3.7M |
| NEXTERA ENERGY INC (NEE 7.375 02/15/29) | UNIT 02/15/2029 | New | 67,913 | $3.4M |
| EPR PROPERTIES (EPR 9 PERP E) | CONV PFD 9% SR E | Reduce -17.6% | 100,124 | $3.0M |
| ORACLE CORP (ORCL 6.5 01/15/29 D) | 6.5 DEP CUM SR D | New | 65,746 | $2.9M |
| LXP INDUSTRIAL TRUST (LXP 6.5 PERP C) | PFD CONV SER C | Add +9.9% | 58,957 | $2.7M |
| PG&E CORP (PCG 6 12/01/27 A) | PFD CONV SER A | Reduce -5.9% | 18,489 | $795K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 154 | $732.9M | ET, SUN, PAA, EPD, WES |
| Q1 2026 | 124 | $703.8M | ET, PAA, SUN, MPLX, EPD |
| Q4 2025 | 127 | $606.5M | MPLX, PAA, ET, HESM, WES |
| Q3 2025 | 121 | $560.9M | MPLX, PAA, ET, HESM, EPD |
| Q2 2025 | 114 | $609.5M | ET, MPLX, WES, PAA, EPD |
| Q1 2025 | 104 | $585.5M | OKE, HESM, ET, SOBO, USAC |
| Q4 2024 | 111 | $591.1M | MPLX, SUN, ET, PAA, EPD |
| Q3 2024 | 116 | $612.4M | PAA, MPLX, SUN, EPD, ET |
| Q2 2024 | 82 | $637.9M | MPLX, PAA, ET, WES, EPD |
| Q1 2024 | 86 | $626.8M | ET, MPLX, EPD, PAA, NS |