KAYNE ANDERSON CAPITAL ADVISORS LP
Long book
$5.22B
Q1 2026
Positions
48
Top-10 weight
75%
concentration
Last quarter
+0.0%
SPY +14.8%
Turnover
33%
of book per quarter
Strategy in plain words
auto-generated from filingsKAYNE ANDERSON CAPITAL ADVISORS LP is a concentrated fundamental stock-picker, specialised in utilities (74% of the long book), running a $5.22B US long book across 48 positions.
The portfolio is extremely concentrated — the top 10 positions are almost the whole book. The portfolio is actively managed, with meaningful quarterly turnover. Current anchor positions: ENTERPRISE PRODUCTS PARTNERS, WILLIAMS COS INC, ENERGY TRANSFER LP, CHENIERE ENERGY INC, MPLX LP.
Over the last 9 quarters its long book ran on average 1.2pp per quarter ahead of the S&P 500, beating the index in 5 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+6.4%
Q2 2024
+7.6%
Q3 2024
+11.7%
Q4 2024
+6.3%
Q1 2025
-1.1%
Q2 2025
+0.6%
Q3 2025
-1.4%
Q4 2025
+21.4%
Q1 2026
+0.0%
Sector allocation
Utilities 78%
Energy 21%
Industrials 0%
Materials 0%
Consumer discretionary 0%
Technology 0%
Long book by quarter
What does KAYNE ANDERSON own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 13.0M | $493.1M | 9.5% | -2.4% |
| WMB WILLIAMS COS INC | Utilities | 6.7M | $487.9M | 9.4% | -12.4% |
| ET ENERGY TRANSFER LP | Utilities | 24.6M | $474.4M | 9.1% | +2.6% |
| LNG CHENIERE ENERGY INC | Utilities | 1.7M | $471.5M | 9.0% | +5.7% |
| MPLX MPLX LP | Energy | 6.8M | $389.6M | 7.5% | -5.5% |
| KMI KINDER MORGAN INC | Utilities | 11.0M | $367.3M | 7.0% | -13.2% |
| OKE ONEOK INC | Utilities | 3.9M | $349.3M | 6.7% | +6.4% |
| ENB ENBRIDGE INC | Energy | 6.1M | $330.0M | 6.3% | +32.6% |
| TRP TC ENERGY CORP | Utilities | 4.8M | $301.6M | 5.8% | -9.9% |
| TRGP TARGA RESOURCES CORP | Utilities | 777.6K | $195.0M | 3.7% | -10.1% |
| WES WESTERN MIDSTREAM PARTNERS L | Utilities | 3.9M | $161.3M | 3.1% | +0.4% |
| PAA PLAINS ALL AMER PIPELINE LP | Energy | 6.2M | $138.5M | 2.7% | +21.1% |
| AM ANTERO MIDSTREAM CORP | Utilities | 4.2M | $96.9M | 1.9% | -6.3% |
| DTM DT MIDSTREAM INC | Utilities | 650.0K | $87.5M | 1.7% | -24.7% |
| SRE SEMPRA | Utilities | 776.4K | $75.4M | 1.4% | -19.0% |
| PBA PEMBINA PIPELINE CORP | Energy | 1.6M | $71.9M | 1.4% | -9.0% |
| ETR ENTERGY CORP | Utilities | 602.4K | $67.7M | 1.3% | -1.6% |
| HESM HESS MIDSTREAM LP - CLASS A | Energy | 1.5M | $58.7M | 1.1% | -8.2% |
| CNP CENTERPOINT ENERGY INC | Utilities | 1.2M | $53.7M | 1.0% | +0.8% |
| MPC MARATHON PETROLEUM CORP | Energy | 160.0K | $39.1M | 0.7% | New |
| KGS KODIAK GAS SERVICES INC | Utilities | 623.0K | $36.3M | 0.7% | +1418.1% |
| AROC ARCHROCK INC | Utilities | 996.5K | $34.7M | 0.7% | +80.6% |
| EE EXCELERATE ENERGY INC-A | Utilities | 646.5K | $21.6M | 0.4% | -29.0% |
| SWX SOUTHWEST GAS HOLDINGS INC | Utilities | 216.7K | $18.8M | 0.4% | New |
| SUNC SUNOCOCORP LLC | Energy | 216.9K | $13.4M | 0.3% | New |
| NFG NATIONAL FUEL GAS CO | Utilities | 106.3K | $10.0M | 0.2% | +12.5% |
| NRG NRG ENERGY INC | Utilities | 64.2K | $9.4M | 0.2% | +22.6% |
| XEL XCEL ENERGY INC | Utilities | 97.4K | $7.7M | 0.1% | +27.0% |
| PPL PPL CORP | Utilities | 200.0K | $7.6M | 0.1% | -46.8% |
| USAC USA COMPRESSION PARTNERS LP | Utilities | 250.9K | $6.8M | 0.1% | New |
| GEV GE VERNOVA INC | Industrials | 6.9K | $6.0M | 0.1% | -17.1% |
| IDA IDACORP INC | Utilities | 38.5K | $5.5M | 0.1% | New |
| VST VISTRA CORP | Utilities | 34.4K | $5.2M | 0.1% | New |
| AEP AMERICAN ELECTRIC POWER | Utilities | 35.3K | $4.6M | 0.1% | New |
| PWR QUANTA SERVICES INC | Industrials | 8.4K | $4.6M | 0.1% | -19.1% |
| CEG CONSTELLATION ENERGY | Utilities | 16.2K | $4.5M | 0.1% | New |
| CCJ CAMECO CORP | Materials | 34.1K | $3.7M | 0.1% | +15.5% |
| TLN TALEN ENERGY CORP | Utilities | 11.5K | $3.7M | 0.1% | -26.7% |
| CTRI CENTURI HOLDINGS INC | Utilities | 98.9K | $2.9M | 0.1% | -50.1% |
| BWXT BWX TECHNOLOGIES INC | Industrials | 8.4K | $1.7M | 0.0% | New |
| POWL POWELL INDUSTRIES INC | Industrials | 3.1K | $1.7M | 0.0% | -71.6% |
| MWH SOLV ENERGY INC-CL A | Industrials | 45.7K | $1.4M | 0.0% | New |
| GLP GLOBAL PARTNERS LP | Consumer discretionary | 31.9K | $1.3M | 0.0% | Held |
| FSLR FIRST SOLAR INC | Technology | 4.8K | $941K | 0.0% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 11, 2026 | 74 | $5.22B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 66 | $4.40B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 10, 2025 | 73 | $4.56B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR/ARESTATEMENT | Aug 11, 2025 | 68 | $4.32B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 6, 2025 | 66 | $4.30B | SEC ↗ | |
| Q1 2025 | 13F-HR | May 5, 2025 | 70 | $4.53B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 10, 2025 | 72 | $4.24B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 7, 2024 | 70 | $3.92B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 9, 2024 | 80 | $3.72B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 6, 2024 | 88 | $3.56B | canonical | SEC ↗ |
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