Tortoise Investment Management, LLC Q4 2025 Filing

Filed February 6, 2026

Portfolio Value

$1.1B

Holdings

236

Report Date

Q4 2025

Filing Type

13F-HR

All Holdings (236 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	IVVISHARES TR	147,003	$100.7M	8.84%
2	STIPISHARES TR	566,503	$58.0M	5.09%
3	AVUSAMERICAN CENTY ETF TR	359,435	$40.2M	3.53%
4	BTTBLACKROCK MUN TARGET TERM TR	1,361,137	$31.1M	2.73%
5	SGOVISHARES TR	285,711	$28.7M	2.52%
6	JMUBJ P MORGAN EXCHANGE TRADED F	530,147	$26.8M	2.35%
7	VGLTVANGUARD SCOTTSDALE FDS	438,668	$24.5M	2.15%
8	MTBASIMPLIFY EXCHANGE TRADED FUN	470,695	$23.7M	2.08%
9	SCHPSCHWAB STRATEGIC TR	895,124	$23.7M	2.08%
10	DMBSDOUBLELINE ETF TRUST	445,735	$22.1M	1.94%
11	IEMGISHARES INC	308,861	$20.8M	1.82%
12	SCHXSCHWAB STRATEGIC TR	705,007	$19.0M	1.67%
13	IWBISHARES TR	47,607	$17.8M	1.56%
14	ITOTISHARES TR	119,211	$17.7M	1.56%
15	DFAUDIMENSIONAL ETF TRUST	368,042	$17.2M	1.51%
16	VTVVANGUARD INDEX FDS	88,221	$16.8M	1.48%
17	DGSWISDOMTREE TR	285,367	$16.3M	1.43%
18	SPYSPDR S&P 500 ETF TR	48,037	$16.3M	1.43%	Put
19	SCHCSCHWAB STRATEGIC TR	356,927	$16.3M	1.43%
20	SPEMSPDR INDEX SHS FDS	333,685	$15.6M	1.37%
21	AAPLAPPLE INC	61,680	$14.5M	1.27%	Put
22	BOXXEA SERIES TRUST	125,336	$14.4M	1.27%
23	AQLTISHARES TR	158,462	$14.2M	1.24%
24	DCREDOUBLELINE ETF TRUST	264,905	$13.7M	1.21%
25	CARYANGEL OAK FUNDS TRUST	647,945	$13.5M	1.19%
26	SPYMSPDR SERIES TRUST	167,397	$13.4M	1.18%
27	VTIVANGUARD INDEX FDS	39,536	$13.3M	1.16%
28	SPDWSPDR INDEX SHS FDS	270,291	$12.0M	1.05%
29	IJRISHARES TR	99,296	$11.9M	1.05%
30	BABINVESCO EXCH TRADED FD TR II	415,867	$11.3M	0.99%
31	DFACDIMENSIONAL ETF TRUST	284,441	$11.3M	0.99%
32	DFAEDIMENSIONAL ETF TRUST	339,794	$11.1M	0.97%
33	DFAIDIMENSIONAL ETF TRUST	289,962	$11.1M	0.97%
34	SCHHSCHWAB STRATEGIC TR	523,909	$10.9M	0.96%
35	VEAVANGUARD TAX-MANAGED FDS	170,856	$10.7M	0.94%
36	IUSVISHARES TR	103,711	$10.6M	0.93%
37	VWOVANGUARD INTL EQUITY INDEX F	181,448	$9.8M	0.86%
38	SPSMSPDR SERIES TRUST	207,692	$9.7M	0.85%
39	VVVANGUARD INDEX FDS	30,753	$9.7M	0.85%
40	BRK/BBERKSHIRE HATHAWAY INC DEL	18,508	$9.3M	0.82%
41	AVEMAMERICAN CENTY ETF TR	120,434	$9.3M	0.81%
42	DFSVDIMENSIONAL ETF TRUST	279,622	$9.2M	0.81%
43	DFIVDIMENSIONAL ETF TRUST	181,586	$9.1M	0.80%
44	MLNVANECK ETF TRUST	513,476	$9.0M	0.79%
45	NUWNUVEEN AMT-FREE MUN VALUE FD	617,823	$8.8M	0.78%
46	JMSTJ P MORGAN EXCHANGE TRADED F	155,119	$7.9M	0.69%
47	JAAAJANUS DETROIT STR TR	152,728	$7.7M	0.68%
48	AVUVAMERICAN CENTY ETF TR	70,754	$7.2M	0.63%
49	SCHASCHWAB STRATEGIC TR	249,586	$7.1M	0.62%
50	PGRPROGRESSIVE CORP	30,500	$6.9M	0.60%	Call
51	DFUSDIMENSIONAL ETF TRUST	90,811	$6.7M	0.59%
52	DFEVDIMENSIONAL ETF TRUST	194,412	$6.6M	0.58%
53	AVIVAMERICAN CENTY ETF TR	91,451	$6.5M	0.57%
54	IVEISHARES TR	28,782	$6.1M	0.54%
55	PZAINVESCO EXCH TRADED FD TR II	258,557	$6.0M	0.53%
56	VBILVANGUARD INSTL INDEX FD	79,192	$6.0M	0.52%
57	DFSDDIMENSIONAL ETF TRUST	124,188	$6.0M	0.52%
58	NIMNUVEEN SELECT MAT MUN FD	618,713	$5.8M	0.51%
59	NNYNUVEEN N Y MUN VALUE FD	662,306	$5.7M	0.50%
60	DFASDIMENSIONAL ETF TRUST	78,062	$5.4M	0.48%
61	DUHPDIMENSIONAL ETF TRUST	136,759	$5.2M	0.46%
62	DONSPDR DOW JONES INDL AVERAGE	10,212	$4.9M	0.43%
63	VSSVANGUARD INTL EQUITY INDEX F	32,499	$4.7M	0.41%
64	MSFTMICROSOFT CORP	9,570	$4.6M	0.41%
65	IXUSISHARES TR	53,651	$4.5M	0.40%
66	VBRVANGUARD INDEX FDS	21,047	$4.5M	0.39%
67	AVDVAMERICAN CENTY ETF TR	45,545	$4.3M	0.38%
68	VOOVANGUARD INDEX FDS	6,659	$4.2M	0.37%
69	EWXSPDR INDEX SHS FDS	61,678	$4.0M	0.36%
70	AVESAMERICAN CENTY ETF TR	68,703	$4.0M	0.35%
71	SCHBSCHWAB STRATEGIC TR	149,926	$3.9M	0.35%
72	TLTISHARES TR	42,634	$3.7M	0.33%
73	MBBISHARES TR	37,002	$3.5M	0.31%
74	VBVANGUARD INDEX FDS	13,213	$3.4M	0.30%
75	VTEBVANGUARD MUN BD FDS	66,979	$3.4M	0.30%
76	SCHFSCHWAB STRATEGIC TR	139,001	$3.3M	0.29%
77	VEUVANGUARD INTL EQUITY INDEX F	44,975	$3.3M	0.29%
78	MINOPIMCO ETF TR	72,270	$3.3M	0.29%
79	QUALISHARES TR	16,419	$3.3M	0.29%
80	DIHPDIMENSIONAL ETF TRUST	102,340	$3.2M	0.28%
81	AVDEAMERICAN CENTY ETF TR	37,725	$3.1M	0.27%
82	MEARISHARES U S ETF TR	61,470	$3.1M	0.27%
83	IJSISHARES TR	26,456	$3.0M	0.26%
84	SLYVSPDR SERIES TRUST	32,441	$3.0M	0.26%
85	VGSHVANGUARD SCOTTSDALE FDS	49,756	$2.9M	0.26%
86	LTPZPIMCO ETF TR	55,967	$2.9M	0.25%
87	LTBRLIGHTBRIDGE CORP	215,937	$2.7M	0.24%
88	JPMJPMORGAN CHASE & CO.	7,804	$2.5M	0.22%
89	SCHVSCHWAB STRATEGIC TR	83,497	$2.5M	0.22%
90	SCHESCHWAB STRATEGIC TR	75,116	$2.5M	0.22%
91	AVLVAMERICAN CENTY ETF TR	32,351	$2.5M	0.22%
92	OEFISHARES TR	6,947	$2.4M	0.21%
93	ESGVVANGUARD WORLD FD	16,898	$2.0M	0.18%
94	JMTGJ P MORGAN EXCHANGE TRADED F	38,660	$2.0M	0.17%
95	SCHOSCHWAB STRATEGIC TR	77,348	$1.9M	0.17%
96	SPTLSPDR SERIES TRUST	68,382	$1.8M	0.16%
97	WULFTERAWULF INC	153,218	$1.8M	0.15%
98	NDQINVESCO QQQ TR	2,829	$1.7M	0.15%
99	AVMUAMERICAN CENTY ETF TR	37,585	$1.7M	0.15%
100	IJHISHARES TR	25,934	$1.7M	0.15%

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