Fractal Investments LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed January 27, 2025), Fractal Investments LLC reported 76 stock positions worth $653.5 million. Its top holding was Energy Transfer (ET) at 15.0% of the portfolio, followed by MPLX (MPLX, 14.0%) and Plains All Amer Pipeline (PAA, 10.0%). Compared with Q3 2024, it opened 1 new position, sold out of 9, added to 12 and reduced 7. The biggest buy was Kinder Morgan (KMI, shares +87%) and the biggest sale Sunoco (SUN, shares −18%).

Most Recent 13F
Q2 2026
Location
Glastonbury, CT
CIK
0001843590
Portfolio Value
$653.5M (Q4 2024)
SEC Filing
0001667731-25-000142 ↗ filed Jan 27, 2025

Holdings Value

0$200.0M$400.0M$600.0M$800.0M$1.0B Q1 2024: $550.7M Q1 2024 Q2 2024: $574.6M Q2 2024 Q3 2024: $591.6M Q3 2024 Q4 2024: $653.5M $653.5M Q4 2024 Q1 2025: $719.6M Q1 2025 Q2 2025: $701.0M Q2 2025 Q3 2025: $692.7M Q3 2025 Q4 2025: $716.2M Q4 2025 Q1 2026: $845.0M Q1 2026 Q2 2026: $866.9M Q2 2026

Holdings 76 stocks · $653.5M
ET Energy Transfer LP 15.02% 5,009,543 $98.1M No change
MPLX MPLX LP 13.99% 1,910,849 $91.5M No change
PAA Plains All Amer Pipeline LP 10.00% 3,825,658 $65.3M No change
EPD Enterprise Products Partners 9.98% 2,079,189 $65.2M No change
WES Western Midstream Partners L 8.63% 1,467,506 $56.4M Add +0.1%
KMI Kinder Morgan Inc. 4.82% 1,150,468 $31.5M Add +87.2%
ENLC Enlink Midstream LLC 4.62% 2,133,949 $30.2M Reduce -2.0%
WMB Williams Cos Inc. 4.40% 531,500 $28.8M Add +27.6%
SUN Sunoco LP 4.35% 552,768 $28.4M Reduce -17.8%
TRGP Targa Resources Corp. 4.33% 158,424 $28.3M Reduce -13.0%
OKE Oneok Inc. 3.44% 224,076 $22.5M Reduce -13.1%
TRP TC Energy Corp. 2.45% 344,000 $16.0M Add +38.1%
LNG Cheniere Energy Inc. 1.95% 59,200 $12.7M Add +31.0%
CQP Cheniere Energy Partners LP 1.58% 194,126 $10.3M No change
DTM DT Midstream Inc. 1.51% 99,299 $9.9M Add +184.5%
GLP Global Partners LP 1.39% 195,234 $9.1M No change
HESM Hess Midstream LP Class A 1.33% 235,247 $8.7M No change
NGL NGL Energy Partners LP 0.64% 832,479 $4.2M No change
SPH Suburban Propane Partners LP 0.57% 214,864 $3.7M No change
GEL Genesis Energy L.P. 0.46% 297,519 $3.0M No change
GEV GE Vernova Inc. 0.30% 6,000 $2.0M No change
SMC Summit Midstream Corp. 0.26% 45,000 $1.7M No change
KNTK Kinetik Holdings Inc. 0.24% 27,502 $1.6M No change
CEG Constellation Energy 0.19% 5,500 $1.2M Add +41.0%
SOBO South Bow Corp. 0.18% 49,800 $1.2M No change
GEHC GE Healthcare Technology 0.15% 12,601 $985K No change
XOM Exxon Mobil Corp. 0.13% 7,861 $846K No change
VLTO Veralto Corp. 0.12% 7,800 $794K No change
CR Crane Co. 0.11% 4,900 $744K No change
CARR Carrier Global Corp. 0.11% 10,316 $704K No change
ESAB Esab Corp. 0.11% 5,777 $693K No change
KNF Knife River Corp. 0.10% 6,702 $681K No change
TECK Teck Resources Ltd.-CLS B 0.10% 16,218 $657K No change
PHIN Phinia Inc. 0.10% 13,200 $636K No change
ARMK Aramark 0.10% 16,800 $627K Add +115.4%
STLD Steel Dynamics Inc. 0.09% 5,437 $620K No change
CVX Chevron Corp. 0.09% 4,200 $608K No change
GLD SPDR Gold Shares 0.09% 2,500 $605K No change
ETN Eaton Corp. PLC 0.09% 1,750 $581K Add +118.8%
FCX Freeport-McMoran Inc. 0.09% 15,068 $574K No change
CAT Caterpillar Inc. 0.08% 1,500 $544K Add +114.3%
RIO Rio Tinto PLC-Spon ADR 0.07% 8,200 $482K No change
PH Parker Hannifin Corp. 0.07% 730 $464K No change
IP International Paper Co. 0.07% 8,500 $457K No change
DKL Delek Logistics Partners LP 0.07% 10,559 $446K No change
COP Conocophillips 0.07% 4,492 $445K Add +24.8%
BHP BHP Group Ltd.-Spon ADR 0.07% 9,000 $439K No change
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.07% 5,100 $435K No change
NATL NCR Atleos Corp. 0.07% 12,700 $431K No change
MBC Masterbrand Inc. 0.07% 29,328 $428K No change
PKG Packaging Corp. of America 0.06% 1,800 $405K No change
MLI Mueller Industries Inc. 0.06% 4,926 $391K No change
SCCO Southern Copper Corp. 0.06% 4,190 $382K Add +0.6%
INGR Ingredion Inc. 0.05% 2,500 $344K New
CXT Crane NXT Co. 0.05% 5,880 $342K No change
MMM 3M Co. 0.05% 2,500 $323K No change
MPC Marathon Petroleum Corp. 0.05% 2,291 $320K Reduce -42.9%
RXO Rxo Inc. 0.05% 13,083 $312K No change
GM General Motors Co. 0.05% 5,600 $298K No change
TT Trane Technologies PLC 0.05% 800 $295K No change
K Kellanova 0.04% 3,600 $291K No change
RS Reliance Inc. 0.04% 1,000 $269K No change
GE General Electric filed as GE AEROSPACE 0.04% 1,600 $267K No change
AEM Agnico Eagle Mines Ltd. 0.04% 3,309 $259K No change
NVT Nvent Electric PLC 0.04% 3,732 $254K Reduce -47.1%
DE Deere & Co. 0.04% 600 $254K No change
B Barrick Gold Corp. 0.04% 16,400 $254K No change
TDG Transdigm Group Inc. 0.04% 195 $247K No change
FIP Ftai Infrastructure Inc. 0.04% 33,000 $240K No change
SU Suncor Energy Inc. 0.03% 6,400 $228K No change
IR Ingersoll-Rand Inc. 0.03% 2,500 $226K No change
NUE Nucor Corp. 0.03% 1,868 $218K No change
PSX Phillips 66 0.03% 1,823 $208K Reduce -27.1%
SXC Suncoke Energy Inc. 0.03% 19,200 $205K No change
ITW Illinois Tool Works 0.03% 800 $203K No change
GGB Gerdau SA -Spon ADR 0.01% 33,264 $96K No change

Portfolio Sells Q3 2024 → Q4 2024
SUN Sunoco LP Reduce -17.8% 4.35% −1.75
ENLC Enlink Midstream LLC Reduce -2.0% 4.62% −0.72
OKE Oneok Inc. Reduce -13.1% 3.44% −0.53
TRGP Targa Resources Corp. Reduce -13.0% 4.33% −0.23
DINO HF Sinclair Corp. Sold out 0.00% −0.15
X United States Steel Corp. Sold out 0.00% −0.07
OTIS Otis Worldwide Corp. Sold out 0.00% −0.06
MPC Marathon Petroleum Corp. Reduce -42.9% 0.05% −0.06
VNT Vontier Corp. Sold out 0.00% −0.05
VLO Valero Energy Corp. Sold out 0.00% −0.05
NVT Nvent Electric PLC Reduce -47.1% 0.04% −0.04
WLK Westlake Corp. Sold out 0.00% −0.04
BG Bunge Global SA Sold out 0.00% −0.04
HAL Halliburton Co. Sold out 0.00% −0.04
CSX CSX Corp. Sold out 0.00% −0.04
PSX Phillips 66 Reduce -27.1% 0.03% −0.02

Portfolio Buys Q3 2024 → Q4 2024
KMI Kinder Morgan Inc. Add +87.2% 4.82% +2.53
WMB Williams Cos Inc. Add +27.6% 4.40% +1.19
DTM DT Midstream Inc. Add +184.5% 1.51% +1.05
LNG Cheniere Energy Inc. Add +31.0% 1.95% +0.57
TRP TC Energy Corp. Add +38.1% 2.45% +0.45
INGR Ingredion Inc. New 0.05% +0.05
ARMK Aramark Add +115.4% 0.10% +0.04
ETN Eaton Corp. PLC Add +118.8% 0.09% +0.04
CAT Caterpillar Inc. Add +114.3% 0.08% +0.04
CEG Constellation Energy Add +41.0% 0.19% +0.02
COP Conocophillips Add +24.8% 0.07% +0.00
SCCO Southern Copper Corp. Add +0.6% 0.06% −0.02
WES Western Midstream Partners L Add +0.1% 8.63% −0.85

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 80$866.9MET, MPLX, PAA, EPD, WES
Q1 2026 81$845.0MMPLX, ET, PAA, EPD, WES
Q4 2025 80$716.2MMPLX, ET, PAA, WES, EPD
Q3 2025 77$692.7MMPLX, ET, PAA, WES, EPD
Q2 2025 76$701.0MMPLX, ET, PAA, EPD, WES
Q1 2025 73$719.6MMPLX, ET, PAA, EPD, WES
Q4 2024 76$653.5MET, MPLX, PAA, EPD, WES
Q3 2024 83$591.6MMPLX, ET, PAA, EPD, WES
Q2 2024 82$574.6MMPLX, ET, PAA, EPD, WES
Q1 2024 81$550.7MET, MPLX, PAA, EPD, WES