# Tortoise Investment Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1599511. Source: https://holderbook.com/funds/1599511-tortoise-investment-management-llc/

- Reported value: $1.3B
- Positions: 252
- Weight of the ten largest: 34.2%
- Filed: 2026-08-07

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| ISHARES TR | [IVV](https://holderbook.com/stocks/IVV/) | $107.0M | 142,937 | 8.0% | 31 |
| ISHARES TR | [STIP](https://holderbook.com/stocks/STIP/) | $92.0M | 900,987 | 6.9% | 31 |
| AMERICAN CENTY ETF TR | [AVUS](https://holderbook.com/stocks/AVUS/) | $53.2M | 415,640 | 4.0% | 21 |
| J P MORGAN EXCHANGE TRADED F | [JMTG](https://holderbook.com/stocks/JMTG/) | $35.7M | 705,007 | 2.7% | 3 |
| J P MORGAN EXCHANGE TRADED F | [JMUB](https://holderbook.com/stocks/JMUB/) | $33.6M | 664,214 | 2.5% | 5 |
| BLACKROCK MUN TARGET TERM TR | [BTT](https://holderbook.com/stocks/BTT/) | $32.3M | 1,420,474 | 2.4% | 31 |
| VANGUARD SCOTTSDALE FDS | [VGLT](https://holderbook.com/stocks/VGLT/) | $27.4M | 495,847 | 2.0% | 15 |
| ISHARES TR | [SGOV](https://holderbook.com/stocks/SGOV/) | $26.5M | 262,915 | 2.0% | 18 |
| SCHWAB STRATEGIC TR | [SCHP](https://holderbook.com/stocks/SCHP/) | $25.9M | 978,659 | 1.9% | 31 |
| SIMPLIFY EXCHANGE TRADED FUN | [MTBA](https://holderbook.com/stocks/MTBA/) | $25.9M | 527,409 | 1.9% | 9 |
| ISHARES INC | [IEMG](https://holderbook.com/stocks/IEMG/) | $24.5M | 295,482 | 1.8% | 31 |
| SCHWAB STRATEGIC TR | [SCHX](https://holderbook.com/stocks/SCHX/) | $21.7M | 737,656 | 1.6% | 31 |
| DIMENSIONAL ETF TRUST | [DFAU](https://holderbook.com/stocks/DFAU/) | $20.9M | 404,352 | 1.6% | 23 |
| VANGUARD INDEX FDS | [VTV](https://holderbook.com/stocks/VTV/) | $19.7M | 90,620 | 1.5% | 31 |
| ISHARES TR | [ITOT](https://holderbook.com/stocks/ITOT/) | $19.1M | 116,376 | 1.4% | 31 |
| ISHARES TR | [IWB](https://holderbook.com/stocks/IWB/) | $19.0M | 46,519 | 1.4% | 31 |
| VANGUARD SCOTTSDALE FDS | [VGIT](https://holderbook.com/stocks/VGIT/) | $18.8M | 319,219 | 1.4% | 20 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $18.0M | 24,069 | 1.3% | 31 |
| EA SERIES TRUST | [BOXX](https://holderbook.com/stocks/BOXX/) | $17.8M | 152,407 | 1.3% | 10 |
| SCHWAB STRATEGIC TR | [SCHC](https://holderbook.com/stocks/SCHC/) | $17.6M | 365,315 | 1.3% | 31 |
| SPDR INDEX SHS FDS | [SPEM](https://holderbook.com/stocks/SPEM/) | $17.4M | 336,148 | 1.3% | 31 |
| SPDR SERIES TRUST | [SPYM](https://holderbook.com/stocks/SPYM/) | $16.7M | 190,204 | 1.2% | 31 |
| VANGUARD INSTL INDEX FD | [VBIL](https://holderbook.com/stocks/VBIL/) | $15.6M | 205,882 | 1.2% | 6 |
| APPLE INC | [AAPL](https://holderbook.com/stocks/AAPL/) | $14.9M | 51,606 | 1.1% | 31 |
| ISHARES TR | [IEFA](https://holderbook.com/stocks/IEFA/) | $14.7M | 152,455 | 1.1% | 31 |
| VANGUARD INDEX FDS | [VTI](https://holderbook.com/stocks/VTI/) | $14.3M | 38,756 | 1.1% | 31 |
| SPDR INDEX SHS FDS | [SPDW](https://holderbook.com/stocks/SPDW/) | $14.3M | 284,576 | 1.1% | 31 |
| ISHARES TR | [IJR](https://holderbook.com/stocks/IJR/) | $14.3M | 96,204 | 1.1% | 31 |
| DIMENSIONAL ETF TRUST | [DFAE](https://holderbook.com/stocks/DFAE/) | $14.2M | 354,317 | 1.1% | 23 |
| DOUBLELINE ETF TRUST | [DCRE](https://holderbook.com/stocks/DCRE/) | $14.2M | 273,990 | 1.1% | 11 |
| SPDR SERIES TRUST | [SPSM](https://holderbook.com/stocks/SPSM/) | $13.6M | 235,466 | 1.0% | 31 |
| ANGEL OAK FUNDS TRUST | [CARY](https://holderbook.com/stocks/CARY/) | $13.5M | 651,023 | 1.0% | 10 |
| SCHWAB STRATEGIC TR | [SCHH](https://holderbook.com/stocks/SCHH/) | $13.5M | 570,742 | 1.0% | 31 |
| DIMENSIONAL ETF TRUST | [DFAC](https://holderbook.com/stocks/DFAC/) | $13.3M | 300,547 | 1.0% | 21 |
| AMERICAN CENTY ETF TR | [AVEE](https://holderbook.com/stocks/AVEE/) | $12.8M | 184,695 | 1.0% | 8 |
| DIMENSIONAL ETF TRUST | [DFAI](https://holderbook.com/stocks/DFAI/) | $12.8M | 310,076 | 1.0% | 23 |
| INVESCO EXCH TRADED FD TR II | [BAB](https://holderbook.com/stocks/BAB/) | $12.5M | 464,700 | 0.9% | 31 |
| VANGUARD INDEX FDS | [VV](https://holderbook.com/stocks/VV/) | $11.9M | 34,519 | 0.9% | 31 |
| VANGUARD TAX-MANAGED FDS | [VEA](https://holderbook.com/stocks/VEA/) | $11.8M | 165,461 | 0.9% | 31 |
| AMERICAN CENTY ETF TR | [AVEM](https://holderbook.com/stocks/AVEM/) | $11.7M | 121,127 | 0.9% | 21 |
| DIMENSIONAL ETF TRUST | [DFSV](https://holderbook.com/stocks/DFSV/) | $11.3M | 292,404 | 0.8% | 16 |
| VANECK ETF TRUST | [MLN](https://holderbook.com/stocks/MLN/) | $11.3M | 634,387 | 0.8% | 31 |
| ISHARES TR | [IUSV](https://holderbook.com/stocks/IUSV/) | $11.0M | 100,080 | 0.8% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VWO](https://holderbook.com/stocks/VWO/) | $10.8M | 181,484 | 0.8% | 31 |
| DIMENSIONAL ETF TRUST | [DFIV](https://holderbook.com/stocks/DFIV/) | $9.8M | 181,496 | 0.7% | 18 |
| BERKSHIRE HATHAWAY INC DEL | [BRKB](https://holderbook.com/stocks/BRKB/) | $9.1M | 18,159 | 0.7% | 31 |
| SCHWAB STRATEGIC TR | [SCHA](https://holderbook.com/stocks/SCHA/) | $9.0M | 249,627 | 0.7% | 31 |
| AMERICAN CENTY ETF TR | [AVUV](https://holderbook.com/stocks/AVUV/) | $8.9M | 71,494 | 0.7% | 22 |
| DIMENSIONAL ETF TRUST | [DFUS](https://holderbook.com/stocks/DFUS/) | $8.6M | 105,284 | 0.6% | 21 |
| DIMENSIONAL ETF TRUST | [DFEV](https://holderbook.com/stocks/DFEV/) | $8.5M | 199,815 | 0.6% | 16 |
| WISDOMTREE TR | [DGS](https://holderbook.com/stocks/DGS/) | $8.3M | 128,217 | 0.6% | 31 |
| DIMENSIONAL ETF TRUST | [DUHP](https://holderbook.com/stocks/DUHP/) | $7.5M | 180,837 | 0.6% | 16 |
| AMERICAN CENTY ETF TR | [AVIV](https://holderbook.com/stocks/AVIV/) | $7.4M | 95,289 | 0.5% | 19 |
| NUVEEN AMT-FREE MUN VALUE FD | [NUW](https://holderbook.com/stocks/NUW/) | $7.3M | 511,065 | 0.5% | 22 |
| AMERICAN CENTY ETF TR | [AVTM](https://holderbook.com/stocks/AVTM/) | $6.7M | 123,076 | 0.5% | 2 |
| PROGRESSIVE CORP | [PGR](https://holderbook.com/stocks/PGR/) | $6.5M | 29,699 | 0.5% | 23 |
| DIMENSIONAL ETF TRUST | [DFAS](https://holderbook.com/stocks/DFAS/) | $6.5M | 78,776 | 0.5% | 21 |
| INVESCO EXCH TRADED FD TR II | [PZA](https://holderbook.com/stocks/PZA/) | $6.2M | 265,440 | 0.5% | 31 |
| ISHARES TR | [IVE](https://holderbook.com/stocks/IVE/) | $6.2M | 27,450 | 0.5% | 31 |
| PIMCO ETF TR | [MINO](https://holderbook.com/stocks/MINO/) | $5.8M | 126,080 | 0.4% | 19 |
| NUVEEN SELECT MAT MUN FD | [NIM](https://holderbook.com/stocks/NIM/) | $5.4M | 570,254 | 0.4% | 17 |
| AB ACTIVE ETFS INC | [NYM](https://holderbook.com/stocks/NYM/) | $5.1M | 201,018 | 0.4% | 1 |
| STATE STR SPDR DOW JONES IND | [DIA](https://holderbook.com/stocks/DIA/) | $4.9M | 9,340 | 0.4% | 31 |
| AMERICAN CENTY ETF TR | [AVDV](https://holderbook.com/stocks/AVDV/) | $4.8M | 46,832 | 0.4% | 27 |
| VANGUARD INTL EQUITY INDEX F | [VSS](https://holderbook.com/stocks/VSS/) | $4.8M | 30,905 | 0.4% | 31 |
| NUVEEN N Y MUN VALUE FD | [NNY](https://holderbook.com/stocks/NNY/) | $4.7M | 538,148 | 0.4% | 22 |
| VANGUARD INDEX FDS | [VBR](https://holderbook.com/stocks/VBR/) | $4.7M | 19,299 | 0.3% | 31 |
| ISHARES TR | [IXUS](https://holderbook.com/stocks/IXUS/) | $4.7M | 49,007 | 0.3% | 31 |
| VANGUARD INDEX FDS | [VOO](https://holderbook.com/stocks/VOO/) | $4.4M | 6,419 | 0.3% | 31 |
| AMERICAN CENTY ETF TR | [AVES](https://holderbook.com/stocks/AVES/) | $4.4M | 67,181 | 0.3% | 19 |
| VANGUARD INDEX FDS | [VB](https://holderbook.com/stocks/VB/) | $4.4M | 14,367 | 0.3% | 31 |
| SCHWAB STRATEGIC TR | [SCHB](https://holderbook.com/stocks/SCHB/) | $4.2M | 145,287 | 0.3% | 31 |
| AMERICAN CENTY ETF TR | [AVDE](https://holderbook.com/stocks/AVDE/) | $3.9M | 43,312 | 0.3% | 20 |
| SCHWAB STRATEGIC TR | [SCHF](https://holderbook.com/stocks/SCHF/) | $3.9M | 139,138 | 0.3% | 31 |
| ISHARES TR | [QUAL](https://holderbook.com/stocks/QUAL/) | $3.8M | 17,324 | 0.3% | 17 |
| TERAWULF INC | [WULF](https://holderbook.com/stocks/WULF/) | $3.8M | 153,225 | 0.3% | 6 |
| SPDR INDEX SHS FDS | [EWX](https://holderbook.com/stocks/EWX/) | $3.7M | 49,974 | 0.3% | 31 |
| VANGUARD INTL EQUITY INDEX F | [VEU](https://holderbook.com/stocks/VEU/) | $3.7M | 43,984 | 0.3% | 31 |
| J P MORGAN EXCHANGE TRADED F | [JPIE](https://holderbook.com/stocks/JPIE/) | $3.7M | 79,732 | 0.3% | 2 |
| PIMCO ETF TR | [LTPZ](https://holderbook.com/stocks/LTPZ/) | $3.6M | 71,497 | 0.3% | 13 |
| ISHARES TR | [IJS](https://holderbook.com/stocks/IJS/) | $3.6M | 26,352 | 0.3% | 31 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $3.6M | 9,549 | 0.3% | 31 |
| SPDR SERIES TRUST | [SLYV](https://holderbook.com/stocks/SLYV/) | $3.5M | 32,052 | 0.3% | 26 |
| DIMENSIONAL ETF TRUST | [DIHP](https://holderbook.com/stocks/DIHP/) | $3.4M | 98,742 | 0.3% | 16 |
| VANGUARD MUN BD FDS | [VTEB](https://holderbook.com/stocks/VTEB/) | $3.3M | 65,548 | 0.2% | 31 |
| AMERICAN CENTY ETF TR | [AVLV](https://holderbook.com/stocks/AVLV/) | $3.3M | 36,038 | 0.2% | 19 |
| AMERICAN CENTY ETF TR | [AVMU](https://holderbook.com/stocks/AVMU/) | $3.2M | 68,554 | 0.2% | 20 |
| SCHWAB STRATEGIC TR | [SCHV](https://holderbook.com/stocks/SCHV/) | $2.9M | 83,088 | 0.2% | 31 |
| SCHWAB STRATEGIC TR | [SCHE](https://holderbook.com/stocks/SCHE/) | $2.8M | 77,970 | 0.2% | 31 |
| PUTNAM ETF TRUST | [FTNY](https://holderbook.com/stocks/FTNY/) | $2.8M | 354,245 | 0.2% | 3 |
| VANGUARD NY TAX FREE FDS | [MUNY](https://holderbook.com/stocks/MUNY/) | $2.6M | 25,410 | 0.2% | 4 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $2.6M | 30,520 | 0.2% | 16 |
| VANGUARD SCOTTSDALE FDS | [VGSH](https://holderbook.com/stocks/VGSH/) | $2.6M | 44,895 | 0.2% | 31 |
| ISHARES TR | [OEF](https://holderbook.com/stocks/OEF/) | $2.5M | 6,917 | 0.2% | 31 |
| JPMORGAN CHASE & CO | [JPM](https://holderbook.com/stocks/JPM/) | $2.5M | 7,492 | 0.2% | 31 |
| NVIDIA CORPORATION | [NVDA](https://holderbook.com/stocks/NVDA/) | $2.4M | 11,950 | 0.2% | 30 |
| SCHWAB STRATEGIC TR | [SCHR](https://holderbook.com/stocks/SCHR/) | $2.4M | 95,958 | 0.2% | 31 |
| VANGUARD WORLD FD | [ESGV](https://holderbook.com/stocks/ESGV/) | $2.3M | 17,083 | 0.2% | 26 |
| J P MORGAN EXCHANGE TRADED F | [JMST](https://holderbook.com/stocks/JMST/) | $2.0M | 40,000 | 0.2% | 10 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $2.0M | 2,674 | 0.1% | 31 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +8.1% | +14.8% | -6.8% | 100% |
| Q1 2026 | -0.6% | -4.6% | +4.0% | 100% |
| Q4 2025 | +1.2% | +2.4% | -1.1% | 100% |
| Q3 2025 | +5.4% | +7.8% | -2.4% | 100% |
| Q2 2025 | +5.4% | +10.5% | -5.0% | 100% |
| Q1 2025 | -0.4% | -4.6% | +4.1% | 100% |
| Q4 2024 | -2.4% | +2.1% | -4.6% | 100% |
| Q3 2024 | +5.8% | +5.4% | +0.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $1.3B | 252 |
| Q1 2026 | $1.2B | 246 |
| Q4 2025 | $1.1B | 236 |
| Q3 2025 | $1.1B | 1,538 |
| Q2 2025 | $1.0B | 1,287 |
| Q1 2025 | $960.3M | 818 |
| Q4 2024 | $947.2M | 864 |
| Q3 2024 | $957.2M | 874 |
| Q2 2024 | $876.9M | 878 |
| Q1 2024 | $823.7M | 865 |
| Q4 2023 | $737.1M | 787 |
| Q3 2023 | $671.5M | 802 |