Institutional Manager · CIK 0001803146
Recurrent Investment Advisors LLC
HOUSTON, TX · File #028-20078
Latest AUM
$1.35B
Positions
71
Top-10 Concentration
57.3%
Filings
9
Portfolio Value Over Time
2024-03
2024-06
2024-09
2024-12
2025-03
2025-06
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| NEW | KEYCORP | 493267108 | +1,920,957 | +$84.5M | $0 |
| EXITED | ALLIANCE RESOURCE PARTNERS L | 01877R108 | -647,283 | -$16.4M | $0 |
| ADD | VIPER ENERGY INC | VNOM | +376,598 | +$14.5M | +$141,866 |
| REDUCE | PBF ENERGY INC | PBF | -521,191 | -$14.1M | -$5.4M |
| REDUCE | SUNOCO LP/SUNOCO FIN CORP | SUN | -255,514 | -$13.4M | +$2.2M |
| REDUCE | TC ENERGY CORP | TRPRF | -214,556 | -$11.8M | +$136,332 |
| REDUCE | PEMBINA PIPELINE CORP | PPLOF | -208,940 | -$8.0M | -$4.1M |
| ADD | MURPHY USA INC | MUSA | +17,664 | +$7.1M | +$1.4M |
| REDUCE | SOUTH BOW CORP | SOBO | -235,329 | -$6.5M | -$1.3M |
| ADD | ENERGY TRANSFER L P | ET-PI | +364,412 | +$6.0M | -$3.3M |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202571 pos · $1.35B
- 13F HOLDINGS REPORTQ/E Sep 202564 pos · $1.30B
- 13F HOLDINGS REPORTQ/E Jun 202564 pos · $1.24B
- 13F HOLDINGS REPORTQ/E Mar 202565 pos · $1.18B
- 13F HOLDINGS REPORTQ/E Dec 202465 pos · $1.09B
- 13F HOLDINGS REPORTQ/E Sep 202454 pos · $1.01B
- 13F HOLDINGS REPORTQ/E Jun 202451 pos · $949.9M
- 13F HOLDINGS REPORTQ/E Mar 202450 pos · $862.5M
- 13F HOLDINGS REPORTQ/E Dec 202351 pos · $681.0M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | CENOVUS ENERGY INC | CVE | 6,363,516 | $111.1M | 8.29% |
| 2 | TARGA RES CORP | TRGP | 528,546 | $97.5M | 7.28% |
| 3 | ENERGY TRANSFER L P | ET-PI | 5,351,355 | $88.2M | 6.59% |
| 4 | ONEOK INC NEW | OKE | 1,152,806 | $84.7M | 6.32% |
| 5 | KEYCORP | 493267108 | 1,920,957 | $84.5M | 6.31% |
| 6 | SUNCOR ENERGY INC NEW | SU | 1,760,388 | $79.2M | 5.91% |
| 7 | PHILLIPS 66 | PSX | 454,741 | $58.7M | 4.38% |
| 8 | PEMBINA PIPELINE CORP | PPLOF | 1,490,143 | $57.0M | 4.25% |
| 9 | ENTERPRISE PRODS PARTNERS L | 293792107 | 1,700,650 | $54.5M | 4.07% |
| 10 | WESTERN MIDSTREAM PARTNERS L | WES | 1,338,654 | $52.9M | 3.95% |
| 11 | CHENIERE ENERGY INC | LNG | 264,474 | $51.4M | 3.84% |
| 12 | MURPHY USA INC | MUSA | 118,606 | $47.7M | 3.56% |
| 13 | PLAINS GP HLDGS L P | PAGP | 2,432,797 | $46.6M | 3.48% |
| 14 | MARATHON PETE CORP | MARA | 281,631 | $45.8M | 3.42% |
| 15 | WILLIAMS COS INC | 969457100 | 760,627 | $45.7M | 3.41% |
| 16 | DT MIDSTREAM INC | DTM | 353,786 | $42.3M | 3.16% |
| 17 | KINDER MORGAN INC DEL | EP-PC | 1,485,473 | $40.8M | 3.05% |
| 18 | SOUTH BOW CORP | SOBO | 1,370,635 | $37.8M | 2.82% |
| 19 | SUNOCO LP/SUNOCO FIN CORP | SUN | 678,623 | $35.6M | 2.65% |
| 20 | PBF ENERGY INC | PBF | 1,250,915 | $33.9M | 2.53% |