TOPCX: Tortoise Select Opportunity C

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TOPCX Tortoise Select Opportunity C


Profile

TOPCX - Profile

Vitals

  • YTD Return -31.4%
  • 3 Yr Annualized Return -14.2%
  • 5 Yr Annualized Return -11.9%
  • Net Assets $6.49 M
  • Holdings in Top 10 42.6%

52 WEEK LOW AND HIGH

$5.10
$4.21
$8.21

Expenses

OPERATING RELATED FEES

  • Expense Ratio 3.15%

SALES FEES

  • Front Load N/A
  • Deferred Load 1.00%

BROKERAGE FEES

  • Turnover 124.00%

TRADING FEES

  • Max Redemption Fee N/A

Min Investment

  • Standard (Taxable) $2,500
  • IRA N/A

Fund Classification

  • Primary Caregory
  • Fund Type Open End Mutual Fund
  • Investment Style Equity Energy

Distributions

  • YTD Total Return -31.4%
  • 3 Yr Annualized Total Return -14.2%
  • 5 Yr Annualized Total Return -11.9%
  • Capital Gain Distribution Frequency Annually
  • Net Income Ratio 0.19%
DIVIDENDS
  • Dividend Yield 0.0%
  • Dividend Distribution Frequency Annually

Fund Details

  • Legal Name
    Tortoise Energy Evolution Fund
  • Fund Family Name
    Tortoise Capital Advisors
  • Inception Date
    Sep 30, 2013
  • Shares Outstanding
    123345
  • Share Class
    C
  • Currency
    USD
  • Domiciled Country
    United States
  • Manager
    Matthew Sallee

Fund Description

Under normal circumstances, the fund seeks to invest in securities benefiting from the long-term growth associated with the changes in energy supply relating to the energy transition that is currently underway. It seeks to achieve its investment objective by investing typically in common stocks of any capitalization that are publicly traded on an exchange or in the over-the-counter market. In addition, the fund may invest in master limited partnerships ("MLPs"). It is non-diversified.


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Categories

Performance

TOPCX - Performance

Return Ranking - Trailing

Period TOPCX Return Category Return Low Category Return High Rank in Category (%)
YTD -31.4% -84.3% 0.8% 23.08%
1 Yr -36.3% -79.8% 7.7% 22.08%
3 Yr -14.2%* -53.2% -4.6% 14.86%
5 Yr -11.9%* -41.0% 3.9% 16.13%
10 Yr N/A* -19.9% 3.1% N/A

* Annualized

Return Ranking - Calendar

Period TOPCX Return Category Return Low Category Return High Rank in Category (%)
2019 6.3% -31.6% 664.4% 32.47%
2018 -24.8% -59.6% -17.1% 28.38%
2017 7.5% -24.5% 9.3% 5.48%
2016 49.7% 16.2% 420.6% 8.70%
2015 -35.6% -73.7% -17.3% 79.03%

Total Return Ranking - Trailing

Period TOPCX Return Category Return Low Category Return High Rank in Category (%)
YTD -31.4% -84.3% 0.8% 23.08%
1 Yr -36.3% -79.8% 7.7% 22.08%
3 Yr -14.2%* -53.2% -4.6% 20.27%
5 Yr -11.9%* -41.0% 3.9% 16.13%
10 Yr N/A* -19.9% 3.1% N/A

* Annualized

Total Return Ranking - Calendar

Period TOPCX Return Category Return Low Category Return High Rank in Category (%)
2019 6.3% -31.6% 664.4% 32.47%
2018 -24.8% -59.6% -14.9% 35.14%
2017 7.5% -23.4% 17.7% 5.48%
2016 49.7% 16.2% 420.6% 8.70%
2015 -35.6% -73.7% -16.6% 79.03%

NAV & Total Return History


Holdings

TOPCX - Holdings

Concentration Analysis

TOPCX Category Low Category High TOPCX % Rank
Net Assets 6.49 M 2.44 M 4.06 B 83.33%
Number of Holdings 31 23 132 82.05%
Net Assets in Top 10 7.95 M 2.72 M 3.13 B 66.67%
Weighting of Top 10 42.59% 40.3% 68.5% 73.08%

Top 10 Holdings

  1. Cheniere Energy Inc 6.00%
  2. NextEra Energy Inc 5.88%
  3. Sempra Energy 5.36%
  4. TC Energy Corp 3.79%
  5. Enel SpA 3.73%
  6. Innergex Renewable Energy Inc 3.68%
  7. Marathon Petroleum Corp 3.67%
  8. ONEOK Inc 3.52%
  9. SSE PLC 3.51%
  10. Enterprise Products Partners LP 3.46%

Asset Allocation

Weighting Return Low Return High TOPCX % Rank
Stocks
100.39% 71.66% 100.58% 3.85%
Preferred Stocks
0.00% 0.00% 1.85% 39.74%
Other
0.00% -5.79% 0.11% 38.46%
Convertible Bonds
0.00% 0.00% 0.00% 39.74%
Bonds
0.00% 0.00% 13.32% 46.15%
Cash
-0.38% -0.59% 28.34% 93.59%

Stock Sector Breakdown

Weighting Return Low Return High TOPCX % Rank
Utilities
49.21% 0.00% 49.40% 5.13%
Energy
47.71% 47.71% 100.00% 97.44%
Industrials
3.09% 0.00% 10.60% 25.64%
Technology
0.00% 0.00% 11.40% 51.28%
Real Estate
0.00% 0.00% 0.00% 39.74%
Healthcare
0.00% 0.00% 0.00% 39.74%
Financial Services
0.00% 0.00% 3.21% 43.59%
Communication Services
0.00% 0.00% 0.00% 39.74%
Consumer Defense
0.00% 0.00% 0.00% 39.74%
Consumer Cyclical
0.00% 0.00% 3.69% 46.15%
Basic Materials
0.00% 0.00% 7.50% 66.67%

Stock Geographic Breakdown

Weighting Return Low Return High TOPCX % Rank
US
59.30% 37.17% 98.43% 76.92%
Non US
41.09% 0.00% 63.41% 12.82%

Expenses

TOPCX - Expenses

Operational Fees

TOPCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Expense Ratio 3.15% 0.10% 4.80% 7.79%
Management Fee 0.85% 0.09% 1.50% 64.10%
12b-1 Fee 1.00% 0.00% 1.00% 82.00%
Administrative Fee N/A 0.05% 0.25% 56.41%

Sales Fees

TOPCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Front Load N/A 2.00% 5.75% N/A
Deferred Load 1.00% 1.00% 5.00% 50.00%

Trading Fees

TOPCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Max Redemption Fee N/A 2.00% 2.00% N/A

Related Fees

Turnover provides investors a proxy for the trading fees incurred by mutual fund managers who frequently adjust position allocations. Higher turnover means higher trading fees.

TOPCX Fees (% of AUM) Category Return Low Category Return High Rank in Category (%)
Turnover 124.00% 7.00% 248.00% 87.14%

Distributions

TOPCX - Distributions

Dividend Yield Analysis

TOPCX Category Low Category High TOPCX % Rank
Dividend Yield 0.00% 0.00% 1.59% 43.59%

Dividend Distribution Analysis

TOPCX Category Low Category High Category Mod
Dividend Distribution Frequency Annually Annually Quarterly Annually

Net Income Ratio Analysis

TOPCX Category Low Category High TOPCX % Rank
Net Income Ratio 0.19% -1.61% 4.70% 63.64%

Capital Gain Distribution Analysis

TOPCX Category Low Category High Capital Mode
Capital Gain Distribution Frequency Annually Annually Semi-Annually Annually

Dividend Payout History

View More +

Fund Manager Analysis

TOPCX - Fund Manager Analysis

Managers

Matthew Sallee


Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.5

6.5%

Mr. Sallee joined Tortoise in 2005 and is an Executive Committee member. He serves as president of the Tortoise Energy Infrastructure Corp. and Tortoise Midstream Energy Fund, Inc. closed-end funds, and is a member of the Investment Committee. Mr. Sallee has more than 18 years of industry experience and regularly speaks on national media (CNBC). Previously, he served for five years as a senior financial analyst with Aquila, Inc., where he was responsible for analysis of capital allocation at the firm’s communications infrastructure subsidiary, Everest Connections. Mr. Sallee graduated magna cum laude from the University of Missouri with a degree in business administration. He is a CFA® charterholder.

Brian Kessens


Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.5

6.5%

Mr. Kessens joined Tortoise in 2008. He is a managing director and senior portfolio manager, a member of the investment committee and serves as president of the Tortoise Pipeline & Energy Fund, Inc. and Tortoise Power & Energy Infrastructure Fund, Inc. closed-end funds. Previously, Mr. Kessens was a vice president in Citigroup’s global energy investment banking practice. Prior to Citigroup, he served as a field artillery officer in the U.S. Army. Mr. Kessens earned a Bachelor of Science in economics degree from the U.S. Military Academy at West Point and a Master of Business Administration degree from Columbia Business School in New York. He is a CFA® charterholder.

James Mick


Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.5

6.5%

Mr. Mick joined Tortoise in 2006 and is a member of the Investment Committee. He frequently engages with Tortoise's largest institutional clients. Mr. Mick has more than 19 years of industry experience. Previously, he was a senior finance specialist at General Electric Insurance Solutions (now Swiss Re) from 2003 to 2006 and a senior auditor at Ernst & Young from 2000 to 2003. Mr. Mick earned Bachelor of Science degrees in business administration and accounting, as well as a Master of Accounting and Information Systems from the University of Kansas. He is a CFA® charterholder.

Robert Thummel


Start Date

Tenure

Tenure Rank

Sep 30, 2013

6.5

6.5%

Mr. Thummel joined Tortoise in 2004. He is a managing director and senior portfolio manager, a member of the investment committee and serves as president of the Tortoise Energy Independence Fund, Inc. closed-end fund. Before joining Tortoise, he was director of finance at KLT, Inc., a subsidiary of Great Plains Energy, from 1998 to 2004 and a senior auditor at Ernst & Young from 1995 to 1998. Mr. Thummel earned a Bachelor of Science degree in accounting from Kansas State University and a Master of Business Administration degree from the University of Kansas. He is a frequent energy sector contributor to financial media outlets including Bloomberg CNBC, Fox Business and Wall Street Journal.

Stephen Pang


Start Date

Tenure

Tenure Rank

Jan 01, 2018

2.25

2.3%

Mr. Pang joined Tortoise in 2014, and is a managing director and portfolio manager at Tortoise, responsible for public and private direct investments across its energy strategies. He has also served as vice president of Tortoise Pipeline & Energy Fund, Inc., a closed-end fund, since 2017. Mr. Pang is the chief financial officer and serves on the board of directors of Tortoise Acquisition Corp (NYSE: SHLL.U), a special purpose acquisition company focused on the energy sector in North America. Mr. Pang also serves on the board of Mexico Pacific Limited LLC, a Tortoise portfolio company. Prior to joining Tortoise, Mr. Pang was a director in Credit Suisse Securities (USA) LLC’s Equity Capital Markets Group. Before joining Credit Suisse Securities in 2012, he spent eight years in Citigroup Global Markets Inc.’s Investment Banking Division, where he focused on equity underwriting and corporate finance in the energy sector. Mr. Pang graduated magna cum laude from the University of Richmond with a degree in Business Administration. He is a CFA® charterholder.

Nicholas Holmes


Start Date

Tenure

Tenure Rank

Jan 01, 2019

1.25

1.3%

Mr. Nick Holmes joined the Tortoise energy investment team in 2010 and is a portfolio manager for the firm’s energy and sustainable water strategies. He also serves as president of the Tortoise Essential Assets Income Term Fund and the vice president of the Tortoise Energy Infrastructure Corp. and Tortoise Midstream Energy Fund, Inc. closed-end funds. Mr. Holmes earned a Bachelor of Arts in political science from Yale University and a Master of Business Administration from the University of Kansas. He is a CFA® charterholder.

Matthew Breidert


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.25

0.3%

Mr. Matthew Breidert joined Ecofin, now Tortoise UK, in 2006. He is a senior portfolio manager, overseeing sustainable, impact and ESG strategies, both long only and long/short. Before joining Ecofin in 2006, Matt co-managed a market-neutral portfolio at Millennium Partners in New York. He specialised in investing in companies across the utility value chain including coal, gas, pipeline, utility, merchant power, renewable energy and environmental services companies. From 2000-2002 he was an investment banker with SG Barr Devlin, a US subsidiary of Société Générale, where he provided financial and mergers and acquisitions advice to utility and power companies, and an analyst at Cornerstone Energy Advisers from 1999 to 2000. Prior to that, he worked at Cornerstone Energy Advisers and FT Energy/RDI in Boulder, Co., where he focused on energy and utility-focused economic policy. Matt received an M.B.A. from Washington University in St. Louis (1999) and a B.S. from the University of Illinois-Urbana Champaign (1993). He is a US citizen.

Jean Hugues De Lamaze


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.25

0.3%

Jean‐Hugues de Lamaze joined Ecofin Limited (“Ecofin”), now Tortoise UK in March 2008. He is a portfolio manager covering the Investment Manager’s European investment universe. From 2016 through November 2018, he was a Partner and member of the Board at Ecofin. He is senior portfolio manager for investment trust Ecofin Global Utilities & Infrastructure plc that launched in September 2016. Previously, he was senior portfolio manager for Ecofin Water & Power Opportunities plc. Prior to joining the Investment Manager, Jean‐Hugues co-founded UV Capital LLP in 2005 and was co-Chief Investment Officer of the Utilities & Visibility Fund. He was also Head of the European utilities research team at Goldman Sachs in London from 2002 to 2005 and a senior European analyst and Head of French research and strategy at Credit Suisse First Boston (1996‐2002) after seven years with Enskilda Securities. His professional career began at Enskilda Securities.Jean‐Hugues has over 20 years of experience of equity markets and European utilities. Mr. de Lamaze is a CFAF certified analyst and a member of the French Financial Analysts Society SFAF. He completed the INSEAD International Executive Programme, graduated from the Paris based business school Institut Supérieur de Gestion and earned a LLB in Business Law from Paris II-Assas University. He was voted Top 10 Buy-Side Individual – All Sectors and Top 3 in the Utilities category in the 2018 Extel survey. . He is a French citizen.

Maximilian Slee


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.25

0.3%

Mr. Maximilian Slee joined Ecofin, now Tortoise UK, in 2010. He is a portfolio manager and investment analyst working on sustainable, impact and ESG strategies, both long only and long/short. Before joining Ecofin, Mr. Slee was a member of the clean energy team of the Clinton Foundation, a global non-profit organization founded by President Clinton, where he was involved in setting up and developing carbon capture & storage (CCS) projects around the world. Previously he was an investment banker at Lazard in London where he was a specialist in the energy sector, working on mergers and acquisitions. He earned a Bachelor of Arts degree from Brown University.

Michel Sznajer


Start Date

Tenure

Tenure Rank

Dec 31, 2019

0.25

0.3%

Michel Sznajer, CFA, Portfolio Manager/Investment Analyst Mr. Sznajer joined Ecofin, now Tortoise UK, in 2016 and is a portfolio manager/analyst focused on sustainable products. Before joining Ecofin, he was a partner and portfolio manager at Silvaris Capital Management. Previously Mr. Sznaier was employed at Wellington Management Co. as an industrial/Infrastructure analyst and portfolio manager. Prior to this, he worked at Goldman Sachs and Indosuez W.I. CARR covering the telecom sectors in Asia. Mr. Sznajer started his career as a management consultant at Bain & Company, covering technology, media and telecom and financial sectors in Asia and Europe. He earned an MSc in business and engineering from Brussels University and is a CFA® charterholder.

Tenure Analysis

Category Low Category High Category Average Category Mode
0.21 22.01 5.94 0.25