Teilinger Capital 13F annual report

Teilinger Capital is an investment fund managing more than $210 billion ran by Duncan Silver. There are currently 10 companies in Mr. Silver’s portfolio. The largest investments include Sunnova International Inc and Xcel, together worth $65.1 billion.

$210 billion Assets Under Management (AUM)

As of 1st August 2024, Teilinger Capital’s top holding is 5,928,100 shares of Sunnova International Inc currently worth over $33.1 billion and making up 15.8% of the portfolio value. Relative to the number of outstanding shares of Sunnova International Inc, Teilinger Capital owns more than approximately 0.1% of the company. In addition, the fund holds 600,000 shares of Xcel worth $32 billion, whose value fell 0.2% in the past six months. The third-largest holding is PPL Corp worth $27.7 billion and the next is Evergy Inc worth $20.7 billion, with 390,000 shares owned.

Currently, Teilinger Capital's portfolio is worth at least $210 billion. The total portfolio value may be much higher due to cash assets that are not publicly disclosed such as fixed income, real estate, or cash equivalents.

Careers at Teilinger Capital

The Teilinger Capital office and employees reside in Houston, Texas. According to the last 13-F report filed with the SEC, Duncan Silver serves as the Director at Teilinger Capital.

Recent trades

In the most recent 13F filing, Teilinger Capital revealed that it had opened a new position in Sempra and bought 230,000 shares worth $17.5 billion. This means they effectively own approximately 0.1% of the company. Sempra makes up 15.5% of the fund's Utilities sector allocation and has decreased its share price by 46.1% in the past year.

The investment fund also strengthened its position in Xcel by buying 210,000 additional shares. This makes their stake in Xcel total 600,000 shares worth $32 billion. Xcel dropped 3.0% in the past year.

On the other hand, there are companies that Teilinger Capital is getting rid of from its portfolio. Teilinger Capital closed its position in NiSource Inc on 8th August 2024. It sold the previously owned 785,400 shares for $21.7 billion. Duncan Silver also disclosed a decreased stake in PPL Corp by approximately 0.1%. This leaves the value of the investment at $27.7 billion and 1,000,000 shares.

One of the smallest hedge funds

The two most similar investment funds to Teilinger Capital are American Trust Investment Advisors and Hall Capital Management Co Inc. They manage $210 billion and $210 billion respectively.

Duncan Silver investment strategy

Teilinger Capital’s portfolio is diversified across 4 sectors. Currently, their heaviest sector is Utilities — making up 53.8% of the total portfolio value. The fund focuses on investments in the United States as 80.0% of the portfolio companies are based in the United States.

The majority of the companies in the fund’s portfolio are large-cap stocks. Stocks with a size of more than $10 billion in market cap make up 70% of the total holdings value. On the other hand, small-cap stocks make up only approximately 0.1% of the portfolio. The average market cap of the portfolio companies is close to $26.9 billion.

The complete list of Teilinger Capital trades based on 13F SEC filings

These positions were updated on August 8th based on the fund’s latest 13F filing. Quickly find out what the most recently closed or increased positions are.

Security	Shares Owned	Value	Allocation
Sunnova Energy International Inc	No change 5,928,100	$33,078,798,000	15.76%
Xcel Energy Inc.	53.85% 600,000	$32,046,000,000	15.27%
PPL Corp	0.89% 1,000,000	$27,650,000,000	13.17%
NiSource Inc	Closed 785,400	$21,724,164,000
Evergy Inc	32.65% 390,000	$20,658,300,000	9.84%
Ishares Tr	40.26% 475,000	$42,150,390,000	20.08%
Entergy Corp.	Closed 172,000	$18,176,960,000
Sempra	Opened 230,000	$17,493,800,000	8.34%
Ishares Tr	Opened 130,000	$13,851,500,000	6.60%
WEC Energy Group Inc	Opened 125,000	$9,807,500,000	4.67%
NRG Energy Inc.	Closed 133,000	$9,002,770,000
Cheniere Energy Inc.	Opened 45,000	$7,867,350,000	3.75%
Ishares Tr	Closed 121,122	$7,765,563,000
AES Corp.	Opened 300,000	$5,271,000,000	2.51%
No transactions found
Showing first 500 out of 14 holdings