Skip to content
Disclosery

KAYNE ANDERSON CAPITAL ADVISORS LP

Follow

13F filer, CIK 949615, LOS ANGELES, CA

KAYNE ANDERSON CAPITAL ADVISORS LP reported $4,555,819,953 across 50 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-10. Its ten largest share positions make up 75.76% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001140361-25-041415

Period
2025-09-30
Reported value
$4.56B
Holdings
50
Top 10 weight
75.76%
New
8
Sold out
3

Largest buys vs the previous quarter

SecurityShares changeApprox. value
MNRnew+19,187,581$253M
ENBadded+1,508,300$76.1M
KMIadded+1,682,241$47.6M
TRPadded+744,801$40.5M
SREadded+342,170$30.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
PBAreduced-1,440,611-$58.3M
HESMreduced-1,449,506-$50.1M
TRGPreduced-268,243-$44.9M
PWRreduced-50,683-$21M
WMBreduced-310,461-$19.7M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001140361-25-041415, largest first. % of portfolio is the value over $4,534,580,851, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
WMBWILLIAMS COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 8,330,078 shares; 2024Q4: 7,802,806 shares; 2025Q1: 7,916,565 shares; 2025Q2: 7,933,275 shares; 2025Q3: 7,622,814 shares 7,622,814$483M10.65%-310,461Timeline
EPDENTERPRISE PRODS PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 11,641,147 shares; 2024Q4: 13,588,164 shares; 2025Q1: 13,564,583 shares; 2025Q2: 13,448,640 shares; 2025Q3: 13,356,060 shares 13,356,060$418M9.21%-92,580Timeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 22,264,067 shares; 2024Q4: 23,987,750 shares; 2025Q1: 24,170,455 shares; 2025Q2: 24,064,316 shares; 2025Q3: 23,966,952 shares 23,966,952$411M9.07%-97,364Timeline
LNGCHENIERE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,326,658 shares; 2024Q4: 1,389,026 shares; 2025Q1: 1,494,901 shares; 2025Q2: 1,557,360 shares; 2025Q3: 1,586,927 shares 1,586,927$373M8.22%+29,567Timeline
MPLXMPLX LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,735,562 shares; 2024Q4: 5,634,573 shares; 2025Q1: 7,788,063 shares; 2025Q2: 7,619,104 shares; 2025Q3: 7,233,767 shares 7,233,767$361M7.97%-385,337Timeline
KMIKINDER MORGAN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 10,550,002 shares; 2024Q4: 10,233,186 shares; 2025Q1: 10,786,581 shares; 2025Q2: 10,769,870 shares; 2025Q3: 12,452,111 shares 12,452,111$353M7.77%+1,682,241Timeline
TRPTC ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,198,140 shares; 2024Q4: 4,842,255 shares; 2025Q1: 4,474,699 shares; 2025Q2: 4,616,856 shares; 2025Q3: 5,361,657 shares 5,361,657$292M6.43%+744,801Timeline
OKEONEOK INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,298,034 shares; 2024Q4: 2,563,757 shares; 2025Q1: 2,787,580 shares; 2025Q2: 3,458,508 shares; 2025Q3: 3,562,032 shares 3,562,032$260M5.73%+103,524Timeline
MNRMACH NATURAL RESOURCES LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 19,187,581 shares 19,187,581$253M5.58%newTimeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,143,265 shares; 2024Q4: 3,826,865 shares; 2025Q1: 2,937,480 shares; 2025Q2: 3,098,857 shares; 2025Q3: 4,607,157 shares 4,607,157$232M5.13%+1,508,300Timeline
TRGPTARGA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,926,251 shares; 2024Q4: 1,468,982 shares; 2025Q1: 1,400,135 shares; 2025Q2: 1,298,376 shares; 2025Q3: 1,030,133 shares 1,030,133$173M3.81%-268,243Timeline
WESWESTERN MIDSTREAM PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,228,448 shares; 2024Q4: 4,590,586 shares; 2025Q1: 4,575,487 shares; 2025Q2: 3,429,135 shares; 2025Q3: 3,418,843 shares 3,418,843$134M2.96%-10,292Timeline
DTMDT MIDSTREAM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 692,429 shares; 2024Q4: 678,536 shares; 2025Q1: 677,417 shares; 2025Q2: 873,199 shares; 2025Q3: 866,991 shares 866,991$98M2.16%-6,208Timeline
PAAPLAINS ALL AMERN PIPELINE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 7,538,106 shares; 2024Q4: 5,645,979 shares; 2025Q1: 5,521,539 shares; 2025Q2: 5,119,534 shares; 2025Q3: 5,119,534 shares 5,119,534$87.3M1.93%0Timeline
SRESEMPRAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,020,769 shares; 2024Q4: 1,129,048 shares; 2025Q1: 658,373 shares; 2025Q2: 627,068 shares; 2025Q3: 969,238 shares 969,238$87.2M1.92%+342,170Timeline
PBAPEMBINA PIPELINE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,155,198 shares; 2024Q4: 4,062,772 shares; 2025Q1: 3,899,001 shares; 2025Q2: 3,208,500 shares; 2025Q3: 1,767,889 shares 1,767,889$71.5M1.58%-1,440,611Timeline
AMANTERO MIDSTREAM CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,984,097 shares; 2024Q4: 2,948,391 shares; 2025Q1: 2,943,624 shares; 2025Q2: 2,825,423 shares; 2025Q3: 3,602,274 shares 3,602,274$70M1.54%+776,851Timeline
ETRENTERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 266,730 shares; 2024Q4: 900,099 shares; 2025Q1: 650,353 shares; 2025Q2: 593,705 shares; 2025Q3: 622,876 shares 622,876$58M1.28%+29,171Timeline
HESMHESS MIDSTREAM LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,640,514 shares; 2024Q4: 2,608,331 shares; 2025Q1: 2,885,110 shares; 2025Q2: 2,812,481 shares; 2025Q3: 1,362,975 shares 1,362,975$47.1M1.04%-1,449,506Timeline
LINLINDE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 63,666 shares; 2025Q1: 66,056 shares; 2025Q2: 83,760 shares; 2025Q3: 83,475 shares 83,475$39.7M0.87%-285Timeline
PWRQUANTA SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,349 shares; 2024Q4: 16,277 shares; 2025Q1: 155,495 shares; 2025Q2: 144,325 shares; 2025Q3: 93,642 shares 93,642$38.8M0.86%-50,683Timeline
APDAIR PRODUCTS AND CHEMICALS IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 159,295 shares; 2025Q1: 190,575 shares; 2025Q2: 143,520 shares; 2025Q3: 99,667 shares 99,667$27.2M0.6%-43,853Timeline
EEEXCELERATE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 440,876 shares; 2025Q3: 781,623 shares 781,623$19.7M0.43%+340,747Timeline
PPLPPL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 275,254 shares; 2025Q2: 283,893 shares; 2025Q3: 452,711 shares 452,711$16.8M0.37%+168,818Timeline
AROCARCHROCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,530,440 shares; 2024Q4: 1,614,264 shares; 2025Q1: 1,647,222 shares; 2025Q2: 561,352 shares; 2025Q3: 553,647 shares 553,647$14.6M0.32%-7,705Timeline
PG&E CORPPG&E CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 300,000 shares; 2025Q1: 299,994 shares; 2025Q2: 202,997 shares; 2025Q3: 327,997 shares 327,997$12.9M0.28%+125,000
XELXCEL ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 224,082 shares; 2024Q4: 234,178 shares; 2025Q1: 190,758 shares; 2025Q2: 86,410 shares; 2025Q3: 142,420 shares 142,420$11.5M0.25%+56,010Timeline
KYNKAYNE ANDERSON ENERGY INFRSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,614,122 shares; 2024Q4: 1,614,122 shares; 2025Q1: 1,614,122 shares; 2025Q2: 808,748 shares; 2025Q3: 808,748 shares 808,748$10M0.22%0Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 40,000 shares; 2024Q4: 40,000 shares; 2025Q1: not reported; 2025Q2: 122,000 shares; 2025Q3: 182,000 shares 182,000$9.08M0.2%+60,000Timeline
NRGNRG ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 42,754 shares; 2025Q2: 38,938 shares; 2025Q3: 55,472 shares 55,472$8.98M0.2%+16,534Timeline
NFGNATIONAL FUEL GAS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 36,807 shares; 2025Q3: 95,206 shares 95,206$8.79M0.19%+58,399Timeline
EXCEXELON CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 183,844 shares; 2024Q4: 214,544 shares; 2025Q1: 264,882 shares; 2025Q2: 202,024 shares; 2025Q3: 175,249 shares 175,249$7.89M0.17%-26,775Timeline
KNRGSIMPLIFY EXCHANGE TRADED FUNQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 298,594 shares; 2025Q3: 298,594 shares 298,594$7.78M0.17%0Timeline
TLNTALEN ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 22,203 shares; 2025Q1: 25,673 shares; 2025Q2: 24,141 shares; 2025Q3: 15,951 shares 15,951$6.79M0.15%-8,190Timeline
VSTVISTRA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 24,597 shares; 2025Q2: 38,687 shares; 2025Q3: 29,783 shares 29,783$5.84M0.13%-8,904Timeline
GEVGE VERNOVA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,503 shares; 2024Q4: 26,270 shares; 2025Q1: 7,904 shares; 2025Q2: 8,702 shares; 2025Q3: 8,392 shares 8,392$5.16M0.11%-310Timeline
FSLRFIRST SOLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,001 shares; 2024Q4: 49,602 shares; 2025Q1: 39,080 shares; 2025Q2: 45,031 shares; 2025Q3: 19,612 shares 19,612$4.33M0.1%-25,419Timeline
AQNALGONQUIN POWER & UTILITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 634,087 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 803,975 shares; 2025Q3: 780,103 shares 780,103$4.19M0.09%-23,872Timeline
PAGPPLAINS GP HLDGS L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,690,659 shares; 2024Q4: 782,092 shares; 2025Q1: 581,933 shares; 2025Q2: 195,239 shares; 2025Q3: 179,048 shares 179,048$3.27M0.07%-16,191Timeline
GNRCGENERAC HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 12,897 shares 12,897$2.16M0.05%newTimeline
KGSKODIAK GAS SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,483 shares; 2024Q4: 43,545 shares; 2025Q1: 509,073 shares; 2025Q2: 45,705 shares; 2025Q3: 41,899 shares 41,899$1.55M0.03%-3,806Timeline
GLPGLOBAL PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 35,014 shares; 2024Q4: 35,014 shares; 2025Q1: 35,014 shares; 2025Q2: 31,925 shares; 2025Q3: 31,925 shares 31,925$1.53M0.03%0Timeline
NEENEXTERA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 25,000 shares 25,000$1.18M0.03%newTimeline
CCJCAMECO CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,528 shares; 2024Q4: 28,528 shares; 2025Q1: 40,407 shares; 2025Q2: 41,410 shares; 2025Q3: 13,681 shares 13,681$1.15M0.03%-27,729Timeline
NXTNEXTPOWER INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,887 shares 10,887$806K0.02%newTimeline
EOSEEOS ENERGY ENTERPRISES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 41,526 shares 41,526$473K0.01%newTimeline
ARRYARRAY TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 326,871 shares; 2025Q2: not reported; 2025Q3: 48,072 shares 48,072$392K0.01%newTimeline
SHLSSHOALS TECHNOLOGIES GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 51,026 shares 51,026$378K0.01%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
SELECT SECTOR SPDR TRSELECT SECTOR SPDR TR Optionput2,000$17.9M-200
XOPSPDR SERIES TRUST S&P OILGAS EXPput255$3.37Mnew

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
NEENEXTERA ENERGY INC124,619$8.65Mshares
PEGPUBLIC SVC ENTERPRISE GROUP65,709$5.53Mshares
CEGCONSTELLATION ENERGY CORP13,891$4.48Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001140361-25-041415 base2025-11-10acceptance time not in the bulk data set