STOCK TITAN

Prudential Financial (NYSE: TYG) reports 11.3M Tortoise preferred shares, 29.89% voting stake

(Moderate)
(Neutral)
Form Type
SCHEDULE 13G

Rhea-AI Filing Summary

Prudential Financial, Inc. reports a large passive ownership position in Tortoise Energy Infrastructure Corp. mandatory redeemable preferred stock (MRPS). Prudential beneficially owns 11,300,000 MRPS shares, representing 91.2% of the outstanding MRPS class. These securities are held through insurance subsidiaries, with The Prudential Insurance Company of America holding 6,800,000 shares and Pruco Life Insurance Company holding 4,500,000 shares across several MRPS CUSIP numbers. Prudential has sole voting and sole dispositive power over all 11,300,000 shares and reports no shared voting or dispositive power.

The MRPS position is also described as equating to 29.89% of the issuer’s combined common and preferred stock for voting purposes, indicating a significant overall voting stake. Prudential notes that its clients may have rights to receive dividends or sale proceeds from these securities, reflecting its role as an investment manager on behalf of underlying clients.

Positive

  • None.

Negative

  • None.
MRPS shares beneficially owned 11,300,000 shares Mandatory Redeemable Preferred Stock beneficially owned by Prudential
Percent of MRPS class 91.2% Percentage of outstanding MRPS held by Prudential
Combined voting power 29.89% MRPS holdings as percent of combined common and preferred voting power
Shares held by Prudential Insurance Co. of America 6,800,000 shares Portion of MRPS held by this Prudential subsidiary
Shares held by Pruco Life Insurance Company 4,500,000 shares Portion of MRPS held by this Prudential subsidiary
Prudential Insurance percentage of MRPS class 54.9% Share of MRPS class held by The Prudential Insurance Company of America
Pruco Life percentage of MRPS class 36.3% Share of MRPS class held by Pruco Life Insurance Company
Mandatory Redeemable Preferred Stock financial
"Title of class of securities: Mandatory Redeemable Preferred Stock"
beneficially owned financial
"Ownership (a) | Amount beneficially owned: 11,300,000"
Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.
Sole dispositive power financial
"Sole power to dispose or to direct the disposition of: 11,300,000"
Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.
Sole voting power financial
"Sole power to vote or to direct the vote: 11,300,000"
Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.
Investment Company Act of 1940 regulatory
"an investment company registered under the Investment Company Act of 1940"
A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google
Add on Google
Learn about SEC filing dates

FAQ

How many preferred shares of TYG does Prudential Financial beneficially own?

Prudential Financial beneficially owns 11,300,000 shares of Tortoise Energy Infrastructure Corp. mandatory redeemable preferred stock, representing a major holding within that specific MRPS class.

What percentage of TYG’s mandatory redeemable preferred stock does Prudential hold?

Prudential Financial reports holding 91.2% of Tortoise Energy Infrastructure Corp.’s outstanding mandatory redeemable preferred stock, giving it substantial influence over matters specific to that MRPS class.

What voting power does Prudential Financial (TYG) report over these MRPS shares?

Prudential Financial reports sole voting power over all 11,300,000 MRPS shares and no shared voting power, indicating it alone can direct how these preferred shares are voted.

How much of TYG’s overall voting power do Prudential’s MRPS holdings represent?

The filing states that 11.3 million MRPS shares equate to 29.89% of Tortoise Energy Infrastructure Corp.’s combined common and preferred stock for voting purposes, indicating a significant overall voting stake.

Which Prudential subsidiaries hold the TYG MRPS shares and in what amounts?

The Prudential Insurance Company of America holds 6,800,000 MRPS shares (about 54.9% of the class), and Pruco Life Insurance Company holds 4,500,000 shares (about 36.3% of the class).

Do Prudential’s clients have rights to TYG MRPS dividends or sale proceeds?

Yes. Prudential notes that its clients may have the right to receive or direct dividends or sale proceeds from the MRPS securities that are the subject of this Schedule 13G filing.





89147L7#1

(CUSIP Number)
89147L8#0

(CUSIP Number)
07/15/2026

(Date of Event Which Requires Filing of this Statement)


Check the appropriate box to designate the rule pursuant to which this Schedule is filed:
Rule 13d-1(b)
Rule 13d-1(c)
Rule 13d-1(d)




schemaVersion:


SCHEDULE 13G





SCHEDULE 13G



PRUDENTIAL FINANCIAL INC
Signature:/s/ Danny Fiore
Name/Title:Second Vice President
Date:08/06/2026