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The Tortoise Sustainable and Social Impact Term Fund seeks to provide a high level of total return with an emphasis on current distributions. TEAF provides investors access to a combination of public and direct investments in essential assets that are making an impact on clients and communities.

Fund Stats as of 1/17/2025:

View All Stats Slider View

Previous Close

$12.32

NAV

$14.26

Premium/Discount

-13.57%

Distribution Rate

8.76%

TEAF is designed to provide:

  • Attractive total return potential with emphasis on current income and uncorrelated assets
  • Access to differentiated essential assets investments
  • Investments in tangible, long-lived assets and services
  • Ability to make a positive social, environmental and economic impact
  • One 1099

Fund data (unaudited)

As of 1/17/2025
Date 1/17/2025
Market Price $12.33
NAV $14.26
IPO Date 3/26/2019
IPO Price $20.00
Distribution Frequency Monthly
As of 12/31/2024
Total Assets $220.9 million
Leverage % of Total Assets 1 14.30%
Shares Outstanding 13.49 million
Management Fee (year 1) 2 1.10%
Management Fee 3 1.35%
Fiscal Year End November 30
CUSIP 27901F109
  1. Anticipated 10-15% of total assets

  2. Annual rate applied to the fund's average monthly total assets (including any assets attributable to leverage) less the sum of accrued liabilities (other than debt entered into for purposes of leverage and the aggregate liquidation preference of outstanding preferred stock) ("Managed Assets").

    Tortoise has agreed to waive a portion of the investment advisory fee in the amount of 0.25% for one year following the effective date of this registration statement. This waiver will not apply after this one year period.

  3. Annual rate applied to the fund's average monthly total assets (including any assets attributable to leverage) less the sum of accrued liabilities (other than debt entered into for purposes of leverage and the aggregate liquidation preference of outstanding preferred stock) ("Managed Assets").

Portfolio Allocation*

As of 12/31/2024

Created with Highstock 6.2.0SustainableInfrastructure55%Social Impact31%EnergyInfrastructure14%Sustainable Infrastructure 55%Social Impact 31%Energy Infrastructure 14%By Asset TypeHighcharts.com
Created with Highstock 6.2.0Private 52%Public 48%Private 52%Public 48%By Structure Type**Highcharts.com
*Percentages based on total investment portfolio
** ‘Private’ or ‘Public’ identifier made at time of investment; ‘private’ may include securities that are freely tradable but acquired in a private investment in public equity (PIPE) transaction

Top 10 Holdings *

  1. Percent of Investments and Cash Equivalents.

As of 12/31/2024

* Fund holdings are subject to change and are not recommendations to buy or sell any security.

Price

Previous Close

$12.32

Market Price Change Dollars

$0.01

Market Price Change Percentage

0.04%

NAV Plus Cumulative Distributions

(as of 1/17/2025)

Created with Highstock 6.2.020192019202020202020202120212021202220222022202320232023202420242024202520202021202220232024202510203040Zoom1M3M6MYTD1Y3Y5YAllNAVNAV Plus Cumulative DistributionsHighcharts.com

Market Price/NAV History

(as of 1/17/2025)

Created with Highstock 6.2.0202420242024202420242024202420242024202420242024202520202021202220232024202512141610Zoom1M3M6MYTD1Y3Y5YAllMarket PriceNAVHighcharts.com

Performance is annualized for periods longer than 1 year. Source: Bloomberg

Performance data quoted represents past performance; past performance does not guarantee future results. Like any other stock, total return and market value will fluctuate so that an investment, when sold, may be worth more or less than its original cost. Due to market volatility, current performance may be lower or higher than the figures shown.

Since inception is since IPO date of the fund 3/26/2019.

Date Summary Sector Amount PDF
October 2024 Ivy Classical Academy (ACE Alabama) Social Impact $2,080,000 View Details
August 2024 Ivy Classical Academy (ACE Alabama) Social Impact $4,270,000 (Series A) $660,000 (Series B) View Details
June 2024 Pioneer Technology and Arts Academy of Arizona Social Impact $8,200,000 (Series A) $250,000 (Series B) View Details
May 2024 Dublin Classical Academy Social Impact $5,355,000 (Series A) $1,560,000 (Series B) View Details
March 2024 Celebration Senior Living Social Impact $825,000 View Details
December 2023 City View Charter School Social Impact $3,100,000 (Series A) $950,000 (Series B) View Details
December 2023 Belton Prep Social Impact $2,575.000 View Details
December 2023 Jacaranda Trace Senior Living Social Impact $3,110,000 View Details
December 2023 Northeast Ohio Charter Academy Social Impact $2,355,000 (Series A) $530,000 (Series B) View Details
September 2023 Belton Prep Social Impact $1,505,000 View Details
September 2023 Libertas Academies Social Impact $3,850,000 View Details
April 2023 Belton Prep Social Impact $365,000 View Details
April 2023 Libertas Academies Social Impact $575,000 View Details
March 2023 Carbon Cycle North Carolina (C2NC Holdings) Waste Transition $2,125,000 View Details
March 2023 EXCEL Academy Social Impact $405,000 View Details
February 2023 Genesis Christian Academy Social Impact $936,000 View Details
January 2023 Northwest Ohio Classical Academy Social Impact $330,000 View Details
December 2022 Earthcare Bethel Waste Transition $405,000 View Details
December 2022 Ativo of Albuquerque Social Impact $2,032,000 View Details
September 2022 NextDecade Corporation Energy Infrastructure $1,289,789 View Details
September 2022 Telra Institute Social Impact $145,000 View Details
August 2022 Academir Charter School Social Impact $320,000 View Details
July 2022 Phoenix Modern Social Impact $138,000 View Details
May 2022 Arbor Village Social Impact $3,890,000 View Details
October 2021 Estancia Senior Living Social Impact $5,715,000 View Details
September 2021 Telra Institute Social Impact $525,000 View Details
July 2021 EVgo Energy Infrastructure $639,940 View Details
June 2021 Enviva Partners, LP Energy Infrastructure $2,500,000 View Details
April 2021 Dynamic BC Holding LLC Social Impact $8,110,000 View Details
March 2021 Clearwater at Glendora Social Impact $3,770,000 View Details
October 2020 Drumlin Reserve Social Infrastructure $2,755,309.47 View Details
September 2020 PureCycle Technologies Social Infrastructure $9,000,000 View Details
September 2020 Enterprise Products Partners (EPD) Energy Infrastructure $5,000,000 View Details
June 2020 Enviva Partners, LP Energy Infrastructure 4,000,000 View Details
June 2020 Hillcrest Christian School Social Infrastructure $355,186 View Details
April 2020 C2NC Holdings Social Infrastructure $10,715,000 View Details
March 2020 Pioneer Technology & Arts Academy Social Infrastructure $410,000 View Details
January 2020 New Fortress Energy LLC Energy Infrastructure $4,875,000 View Details
December 2019 Sunnova Energy International Inc. Energy Infrastructure $5,300,000 View Details
November 2019 Noble Midstream Partners Energy Infrastructure $5,500,000 View Details
October 2019 St. James Christian Academy Social Infrastructure $185,000 View Details
October 2019 Mexico Pacific Limited, LLC Energy Infrastructure (private equity) View Details
October 2019 The Cottages of Perry Hall Social Infrastructure $2,280,000 View Details
July 2019 Vonore Fiber Products LLC Social Infrastructure $9,842,197 View Details
June 2019 The Village Charter School, Inc. Social Infrastructure $800,000 View Details
June 2019 Grace Commons senior living Social Infrastructure $3,650,000 (Series A)
$1,825,000 (Series B)
View Details
July 2019 Operating Stage Solar Acquisitions—CO/FL/NJ/PR Sustainable Infrastructure $26,000,000 (approx.) View Details
June 2019 Construction Stage Solar Acquisitions—CA/MA Sustainable Infrastructure $18,000,000 (approx.) View Details
June 2019 Athenian Academy charter school Social Infrastructure $445,000 View Details
June 2019 Altus Midstream Company Energy Infrastructure $4,000,000 (approx.) View Details
May 2019 MaST Community Charter School III Social Infrastructure $3,135,000 View Details
April 2019 Utility-scale solar projects—Bermuda Sustainable Infrastructure $6,700,000 (approx.) View Details
April 2019 Enviva Partners, LP Energy Infrastructure $5,000,000 View Details

Determining distributions to stockholders

The fund has adopted a managed distribution policy (“MDP”). Annual distribution amounts are expected to fall in the range of 6% to 8% of the average week-ending net asset value (“NAV”) per share for the prior fiscal semi-annual period. Distribution amounts will be reset both up and down to provide a consistent return on trailing NAV. Under the MDP, distribution amounts will normally be reset in February and August, with no changes in distribution amounts in May and November. The fund may designate a portion of its distributions as capital gains and may also distribute additional capital gains in the last quarter of the year to meet annual excise distribution requirements. Distribution amounts are subject to change from time to time at the discretion of the Board.

For more details, see TEAF's complete distribution and tax information here.

Tax Information (NYSE: TEAF) Tortoise Sustainable and Social Impact Term Fund

Find distributions and other tax-related resources for Tortoise Capital closed-end funds. Tax forms, publications and instructions are available for download from the IRS Web site.


Nothing contained herein should be construed as tax advice; consult your tax adviser for more information. Furthermore, you may not rely upon any information herein for the purpose of avoiding any penalties that may be imposed under the Internal Revenue Code.

As of 1/10/2025

Leverage Summary

Total leverage outstanding $31,500,000
Leverage as % of total assets 14.4%
Effective all-in cost of leverage 5.39%

 

Margin Loan Facility Amount Amount Outstanding Non-use Rate Rate  Maturity Date
$45,000,000 $31,500,000 0.20% 5.30%* 179 calendar-day rolling commitment
Total Debt $31,500,000      

*Floating Rate (1-month Term SOFR plus 1.0%)

Leverage in the form of a margin loan is utilized within TEAF to acquire additional portfolio investments consistent with its investment philosophy. The terms of the leverage are governed by regulatory and contractual asset coverage requirements that arise from the use of leverage.

Leverage costs consist of interest expense on the bank margin loan, including non-use fees.

We consider market conditions at the time leverage is incurred and monitor for asset coverage ratios relative to 1940 Act requirements and our financial covenants on an ongoing basis. Leverage as a percent of total assets will vary depending on market conditions, but will normally range between 10% and 15%. The leverage ratio is impacted by increases or decreases in investment values, issuance of equity and/or the sale of securities when proceeds are used to reduce leverage.

Corporate Governance

Tortoise Sustainable and Social Impact Term Fund is committed to strong corporate governance. Anyone with concerns related to the company's conduct, the conduct of an officer of the company, accounting, internal accounting controls or auditing matters can communicate directly with the Audit Committee of the company's Board of Directors.

Please submit communications in an envelope labeled "To be opened by the Audit Committee only" to the:

Chairperson of the Audit Committee

c/o Corporate Secretary

Ecofin Sustainable and Social Impact Term Fund

6363 College Boulevard

Overland Park, KS 66211

 

info@tortoiseadvisors.com

The communication should indicate whether the communication is intended for the board or one of its committees.

We are committed to managing our companies with honesty and integrity. To help you understand our commitment to corporate governance, please review our guidelines, policies and procedures.

TEAF Governance Documents

Committee Membership

 committee Chairman

Press Releases

Press Releases