SP
Salient Private Client, LLC Historical SEC 13F Holdings & Archive (Q3 2018)
Salient Private Client, LLCCIK: 0001714472
Diversified strategyMomentum followerQuality / disciplined sizing
Total reported value
$512.7M
Reporting period: 2018-09-30 · Number of holdings: 108
Salient Private Client, LLC disclosed 108 holdings in its latest 13F filing for the period ending 2018-09-30, with total reported value of $512.7M and a quarterly turnover rate of 25.3%.
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Personality snowflake
- Concentration
- 13.66
- Portfolio Stability
- 25.26
- Momentum
- 100
- Sector conviction
- 44.51
- Diversification
- 100
- Sizing Uniformity
- 83.53
Salient Private Client, LLC's disclosed holdings carry a Herfindahl concentration index of 0.034 — mathematically equivalent to about 29 equally-sized positions, well below its 108 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.65), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 41% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd ET
-11.4% $1.6M
Add XOM
+1.1% $1.7M
Trim EPD
-48.2% -$9.1M
Add TRGP
-9.9% $976.0K
Trim ET
-68.0% -$7.7M
Add SPY
-3.7% $969.0K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ET | Energy Transfer LP | Stock-Energy | 8.88% | +1.48% | -11.39% | |
| 2 | XOM | Exxon Mobil CORP | Stock-Energy | 8.61% | +1.46% | +1.08% | |
| 3 | TRGP | Targa Resources CORP | Stock-Energy | 7.87% | +1.25% | -9.93% | |
| 4 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 6.00% | +0.98% | -3.65% | |
| 5 | AAPL | Apple Inc | Stock-Tech | 3.10% | +0.85% | -2.48% | |
| 6 | PEP | Pepsico Inc | Stock-Consumer Staples | 2.42% | — | -1.01% | |
| 7 | JNJ | Johnson & Johnson | Stock-Healthcare | 2.29% | +0.54% | -1.09% | |
| 8 | LMT | Lockheed Martin CORP | Stock-Industrials | 2.24% | +0.55% | -2.11% | |
| 9 | WTTR | Select Water Solutions Inc | Stock-Other | 2.13% | -0.13% | — | |
| 10 | EPD | Enterprise Products Partners | Stock-Energy | 2.06% | -1.25% | -48.23% | |
| 11 | TJX | Tjx Companies Inc | Stock-Consumer Disc | 1.98% | +0.50% | -1.96% | |
| 12 | MCD | Mcdonald's CORP | Stock-Consumer Disc | 1.94% | +0.37% | -0.58% | |
| 13 | EFA | Ishares Msci Eafe ETF | ETF-Other | 1.87% | +0.03% | -13.75% | |
| 14 | T | At&t Inc | Stock-Comm Services | 1.86% | — | -1.12% | |
| 15 | MA | Mastercard Inc - A | Stock-Financials | 1.67% | +0.37% | -2.35% | |
| 16 | ADP | Automatic Data Processing | Stock-Tech | 1.65% | +0.38% | -0.62% | |
| 17 | INTC | Intel CORP | Stock-Tech | 1.36% | — | -1.21% | |
| 18 | MMM | 3m Co | Stock-Industrials | 1.35% | — | -0.84% | |
| 19 | GIS | General Mills Inc | Stock-Consumer Staples | 1.34% | — | -2.97% | |
| 20 | ACN | Accenture plc | Stock-Tech | 1.34% | — | -1.59% | |
| 21 | CL | Colgate-palmolive Co | Stock-Consumer Staples | 1.32% | — | -0.90% | |
| 22 | UPS | United Parcel Service-cl B | Stock-Industrials | 1.27% | +0.26% | -1.07% | |
| 23 | LYB | LyondellBasell Industries N.V. | Stock-Materials | 1.19% | +0.07% | -1.99% | |
| 24 | IVV | Ishares Core S&p 500 ETF | ETF-Large Cap & Growth | 1.18% | +0.33% | +11.88% | |
| 25 | IBM | Intl Business Machines CORP | Stock-Tech | 1.15% | — | -1.19% | |
| 26 | PM | Philip Morris International | Stock-Consumer Staples | 1.15% | — | +0.29% | |
| 27 | WES | Western Midstream Partners, LP | Stock-Energy | 1.14% | -0.60% | -32.52% | |
| 28 | MSFT | Microsoft CORP | Stock-Tech | 1.12% | +0.32% | +4.50% | |
| 29 | COF | Capital One Financial CORP | Stock-Financials | 1.06% | — | -2.26% | |
| 30 | EMR | Emerson Electric Co | Stock-Industrials | 1.04% | — | -1.94% | |
| 31 | HD | Home Depot Inc | Stock-Consumer Disc | 1.04% | — | -0.87% | |
| 32 | KO | Coca-cola Co/the | Stock-Consumer Staples | 1.01% | — | +0.11% | |
| 33 | GILD | Gilead Sciences Inc | Stock-Healthcare | 0.95% | — | -1.14% | |
| 34 | JPM | Jpmorgan Chase & Co | Stock-Financials | 0.93% | — | -1.60% | |
| 35 | MINT | Pimco Enhanced Short Maturit | ETF-Other | 0.90% | +0.47% | +79.58% | |
| 36 | TXN | Texas Instruments Inc | Stock-Tech | 0.84% | — | -0.82% | |
| 37 | PG | Procter & Gamble Co/the | Stock-Consumer Staples | 0.82% | — | +0.27% | |
| 38 | MO | Altria Group Inc | Stock-Consumer Staples | 0.78% | — | -0.04% | |
| 39 | ANDX | Andeavor Logistics LP | Stock-Other | 0.74% | — | -21.94% | |
| 40 | WEP | Magellan Midstream Partners | Stock-Other | 0.73% | -0.48% | -46.94% | |
| 41 | WES | Western Midstream Partners, LP | Stock-Energy | 0.73% | -0.05% | -11.45% | |
| 42 | ET | Energy Transfer LP | Stock-Energy | 0.72% | -1.19% | -68.04% | |
| 43 | ✓ | Wildhorse Resource Developme | Stock-Other | 0.68% | — | — | |
| 44 | PRF | Invesco Rafi US 1000 ETF | ETF-Other | 0.65% | — | -7.11% | |
| 45 | EQMUSD | Eqm Midstream Partners LP | Stock-Other | 0.63% | +0.33% | +78.79% | |
| 46 | WMT | Walmart Inc | Stock-Consumer Staples | 0.59% | — | — | |
| 47 | LLY | Eli Lilly & Co | Stock-Healthcare | 0.59% | +0.19% | — | |
| 48 | DIS | Walt Disney Co/the | Stock-Comm Services | 0.58% | — | -1.30% | |
| 49 | MPLX | Mplx LP | Stock-Energy | 0.58% | -0.87% | -65.97% | |
| 50 | UGI | Ugi CORP | Stock-Utilities | 0.58% | — | +9.91% |
1–50 of 108
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Salient Private Client, LLC's most significant position changes for 2018-09-30: Sold out: Phillips 66 Partners LP (PSXPUSD); Sold out: Rice Acquisition Corporation 3 (KRSP); Sold out: Williams Partners LP; Sold out: Noble Midstream Partners LP (NBLXUSD); Sold out: Antero Midstream Corporation (AM).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | ET | Energy Transfer LP | +1.5% | -11.39% | Trim |
| 2 | XOM | Exxon Mobil CORP | +1.5% | +1.08% | Add |
| 3 | TRGP | Targa Resources CORP | +1.3% | -9.93% | Trim |
| 4 | SPY | Ss Spdr S&p 500 ETF Trust-us | +1% | -3.65% | Trim |
| 5 | AAPL | Apple Inc | +0.9% | -2.48% | Trim |
| 6 | LMT | Lockheed Martin CORP | +0.6% | -2.11% | Trim |
| 7 | JNJ | Johnson & Johnson | +0.5% | -1.09% | Trim |
| 8 | TJX | Tjx Companies Inc | +0.5% | -1.96% | Trim |
| 9 | MINT | Pimco Enhanced Short Maturit | +0.5% | +79.58% | Add |
| 10 | ADP | Automatic Data Processing | +0.4% | -0.62% | Trim |
| 11 | MA | Mastercard Inc - A | +0.4% | -2.35% | Trim |
| 12 | MCD | Mcdonald's CORP | +0.4% | -0.58% | Trim |
| 13 | EQMUSD | Eqm Midstream Partners LP | +0.3% | +78.79% | Add |
| 14 | IVV | Ishares Core S&p 500 ETF | +0.3% | +11.88% | Add |
| 15 | MSFT | Microsoft CORP | +0.3% | +4.50% | Add |
| 16 | UPS | United Parcel Service-cl B | +0.3% | -1.07% | Trim |
| 17 | LLY | Eli Lilly & Co | +0.2% | — | Unchanged |
| 18 | LYB | LyondellBasell Industries N.V. | +0.1% | -1.99% | Trim |
| 19 | EFA | Ishares Msci Eafe ETF | 0% | -13.75% | Trim |
| 20 | WES | Western Midstream Partners, LP | -0.1% | -11.45% | Trim |
| 21 | ENB | Enbridge Inc | -0.1% | -35.95% | Trim |
| 22 | KMI | Kinder Morgan, Inc. | -0.1% | -49.15% | Trim |
| 23 | NGL | Ngl Energy Partners LP | -0.1% | -66.30% | Trim |
| 24 | WTTR | Select Water Solutions Inc | -0.1% | — | Unchanged |
| 25 | PAGP | Plains Gp Holdings Lp-cl A | -0.2% | -53.95% | Trim |
| 26 | WEP | Magellan Midstream Partners | -0.5% | -46.94% | Trim |
| 27 | ✓ | -0.5% | -93.40% | Trim | |
| 28 | TEGPUSD | Tallgrass Energy LP | -0.5% | -72.95% | Trim |
| 29 | OKE | Oneok Inc | -0.6% | -82.08% | Trim |
| 30 | WES | Western Midstream Partners, LP | -0.6% | -32.52% | Trim |
| 31 | WMB | Williams Cos Inc | -0.8% | -78.90% | Trim |
| 32 | MPLX | Mplx LP | -0.9% | -65.97% | Trim |
| 33 | GEL | Genesis Energy L.p. | -0.9% | -95.41% | Trim |
| 34 | PAA | Plains All Amer Pipeline LP | -0.9% | -88.33% | Trim |
| 35 | SHLXUSD | Shell Midstream Partners LP | -1% | -90.78% | Trim |
| 36 | ET | Energy Transfer LP | -1.2% | -68.04% | Trim |
| 37 | EPD | Enterprise Products Partners | -1.3% | -48.23% | Trim |
| 38 | PSXPUSD | Phillips 66 Partners LP | — | EXIT | Sold out |
| 39 | KRSP | Rice Acquisition Corporation 3 | — | EXIT | Sold out |
| 40 | ✓ | Williams Partners LP | — | EXIT | Sold out |
| 41 | NBLXUSD | Noble Midstream Partners LP | — | EXIT | Sold out |
| 42 | AM | Antero Midstream Corporation | — | EXIT | Sold out |
| 43 | ✓ | Tallgrass Energy Partners, LP | — | EXIT | Sold out |
| 44 | ✓ | Bp Midstream Par | — | EXIT | Sold out |
| 45 | LNG | Cheniere Energy Inc | — | EXIT | Sold out |
| 46 | PBA | Pembina Pipeline CORP | — | EXIT | Sold out |
| 47 | NKE | Nike Inc -cl B | — | NEW | New buy |
| 48 | 0E41 | Enlink Midstream LLC | — | EXIT | Sold out |
| 49 | VLO | Valero Energy Corporation | — | EXIT | Sold out |
| 50 | TCPA | TransCanada PipeLines Limited 6 | — | EXIT | Sold out |
Filing History
FAQ
What is Salient Private Client, LLC and what type of investor is it?
Salient Private Client, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2018-09-30), the firm manages a tracked equity portfolio valued at approximately $512.7M, spread across 108 disclosed positions.
What are Salient Private Client, LLC's largest equity positions?
Based on the latest 13F filing, Salient Private Client, LLC's top holdings by market value are:
1. Energy Transfer LP (ET) — $45.5M (8.9%)
2. Exxon Mobil CORP (XOM) — $44.1M (8.6%)
3. Targa Resources CORP (TRGP) — $40.3M (7.9%)
4. Ss Spdr S&p 500 ETF Trust-us (SPY) — $30.8M (6.0%)
5. Apple Inc (AAPL) — $15.9M (3.1%)
What changes did Salient Private Client, LLC make in its most recent portfolio filing?
In the latest reported quarter, Salient Private Client, LLC made 48 notable position adjustments: 1 new positions were initiated, 5 existing holdings were added to, 30 positions were partially reduced, and 12 were completely exited. The largest of these moves: Sold out: Phillips 66 Partners LP (PSXPUSD); Sold out: Rice Acquisition Corporation 3 (KRSP); Sold out: Williams Partners LP; Sold out: Noble Midstream Partners LP (NBLXUSD); Sold out: Antero Midstream Corporation (AM)
What sectors does Salient Private Client, LLC focus on?
Salient Private Client, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 23.1%
• Information Technology: 18.3%
• Consumer Staples: 14.5%
• Health Care: 11.6%
• Financials: 8.9%
• Industrials: 8.8%
Investment Profile
Salient Private Client, LLC's portfolio is broadly diversified and moderately active.
Its turnover score has risen from 0 to 25 over the past 3 quarters — a shift toward more active trading.
It has added to its SPY position over the past two quarters (+$18.6M, now $30.8M), while trimming OKE over the same stretch (-$4.6M, still holding $765.0K).
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Developer Access
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