Fractal Investments LLC

In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 7, 2025), Fractal Investments LLC reported 76 stock positions worth $701.0 million. Its top holding was MPLX (MPLX) at 16.6% of the portfolio, followed by Energy Transfer (ET, 13.0%) and Plains All Amer Pipeline (PAA, 10.0%). Compared with Q1 2025, it opened 7 new positions, sold out of 4, added to 10 and reduced 2. The biggest buy was DT Midstream (DTM, shares +133%) and the biggest sale Oneok (OKE, shares −41%).

Most Recent 13F
Q2 2026
Location
Glastonbury, CT
CIK
0001843590
Portfolio Value
$701.0M (Q2 2025)
SEC Filing
0001667731-25-000742 ↗ filed Jul 7, 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 Q4 2024 Q1 2025: $719.6M Q1 2025 Q2 2025: $701.0M $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 · $701.0M
MPLX MPLX LP 16.58% 2,256,503 $116.2M No change
ET Energy Transfer LP 12.98% 5,018,781 $91.0M Add +0.2%
PAA Plains All Amer Pipeline LP 10.02% 3,832,658 $70.2M No change
EPD Enterprise Products Partners 8.57% 1,937,243 $60.1M Reduce -6.8%
WES Western Midstream Partners L 8.10% 1,467,506 $56.8M No change
WMB Williams Cos Inc. 5.30% 591,500 $37.2M No change
SUN Sunoco LP 4.71% 616,542 $33.0M Add +11.5%
TRP TC Energy Corp. 4.52% 649,000 $31.7M Add +34.4%
KMI Kinder Morgan Inc. 4.43% 1,055,966 $31.0M No change
TRGP Targa Resources Corp. 3.93% 158,424 $27.6M No change
DTM DT Midstream Inc. 3.62% 230,999 $25.4M Add +132.6%
OKE Oneok Inc. 2.94% 252,757 $20.6M Reduce -40.7%
LNG Cheniere Energy Inc. 2.73% 78,585 $19.1M Add +4.0%
HESM Hess Midstream LP Class A 1.60% 291,247 $11.2M Add +23.8%
CQP Cheniere Energy Partners LP 1.55% 194,126 $10.9M No change
GLP Global Partners LP 1.47% 195,234 $10.3M No change
GEL Genesis Energy L.P. 0.84% 343,243 $5.9M No change
SPH Suburban Propane Partners LP 0.57% 214,864 $4.0M No change
NGL NGL Energy Partners LP 0.51% 832,479 $3.6M No change
GEV GE Vernova Inc. 0.45% 6,000 $3.2M No change
ENB Enbridge Inc. 0.44% 67,500 $3.1M New
WLKP Westlake Chemical Partners L 0.25% 80,400 $1.8M No change
CEG Constellation Energy 0.25% 5,500 $1.8M No change
KNTK Kinetik Holdings Inc. 0.17% 27,502 $1.2M No change
SMC Summit Midstream Corp. 0.16% 45,000 $1.1M No change
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.14% 10,300 $948K Add +7.3%
GEHC GE Healthcare Technology 0.13% 12,601 $933K No change
CR Crane Co. 0.13% 4,900 $930K No change
XOM Exxon Mobil Corp. 0.12% 7,861 $847K No change
VLTO Veralto Corp. 0.11% 7,800 $787K No change
GLD SPDR Gold Shares 0.11% 2,500 $762K No change
ARMK Aramark 0.10% 16,800 $703K No change
ESAB Esab Corp. 0.10% 5,777 $696K No change
TECK Teck Resources Ltd.-CLS B 0.09% 16,218 $655K No change
FCX Freeport-McMoran Inc. 0.09% 15,068 $653K No change
CVX Chevron Corp. 0.09% 4,200 $601K No change
PHIN Phinia Inc. 0.08% 13,200 $587K No change
CAT Caterpillar Inc. 0.08% 1,500 $582K No change
KNF Knife River Corp. 0.08% 6,702 $547K No change
SHEL Shell PLC-ADR 0.08% 7,500 $528K New
PH Parker Hannifin Corp. 0.07% 730 $510K No change
AMCR Amcor PLC 0.07% 52,925 $486K New
RIO Rio Tinto PLC-Spon ADR 0.07% 8,200 $478K No change
DKL Delek Logistics Partners LP 0.06% 10,559 $454K No change
NTR Nutrien Ltd. 0.06% 7,700 $448K Add +14.9%
INGR Ingredion Inc. 0.06% 3,285 $446K No change
CARR Carrier Global Corp. 0.06% 6,030 $441K No change
BHP BHP Group Ltd.-Spon ADR 0.06% 9,000 $433K No change
SCCO Southern Copper Corp. 0.06% 4,261 $431K Add +1.0%
COP Conocophillips 0.06% 4,492 $403K No change
IP International Paper Co. 0.06% 8,500 $398K No change
AEM Agnico Eagle Mines Ltd. 0.06% 3,309 $394K No change
MLI Mueller Industries Inc. 0.06% 4,926 $391K No change
MMM 3M Co. 0.05% 2,500 $381K No change
MPC Marathon Petroleum Corp. 0.05% 2,291 $381K No change
NATL NCR Atleos Corp. 0.05% 12,700 $362K No change
TT Trane Technologies PLC 0.05% 800 $350K No change
STLD Steel Dynamics Inc. 0.05% 2,694 $345K No change
B Barrick Mining Corp. 0.05% 16,400 $341K No change
PKG Packaging Corp. of America 0.05% 1,800 $339K No change
MBC Masterbrand Inc. 0.05% 29,328 $321K No change
CXT Crane NXT Co. 0.05% 5,880 $317K No change
RS Reliance Inc. 0.04% 1,000 $314K No change
ECG Everus Construction Group 0.04% 4,900 $311K New
DE Deere & Co. 0.04% 600 $305K No change
K Kellanova 0.04% 3,600 $286K No change
ETN Eaton Corp. PLC 0.04% 749 $267K No change
MRP Millrose Properties 0.04% 9,000 $257K New
PLD Prologis Inc. 0.04% 2,400 $252K New
ICL Icl Group Ltd. 0.04% 36,500 $251K Add +37.7%
NUE Nucor Corp. 0.03% 1,868 $242K No change
SU Suncor Energy Inc. 0.03% 6,400 $240K No change
LLYVK Liberty Media Corp.-Liberty-C 0.03% 2,743 $223K New
RXO Rxo Inc. 0.03% 13,083 $206K No change
FIP Ftai Infrastructure Inc. 0.03% 33,000 $204K No change
GGB Gerdau SA -Spon ADR 0.01% 33,264 $97K No change

Portfolio Sells Q1 2025 → Q2 2025
OKE Oneok Inc. Reduce -40.7% 2.94% −2.93
EPD Enterprise Products Partners Reduce -6.8% 8.57% −1.29
SLVM Sylvamo Corp. Sold out 0.00% −0.13
BERY Berry Global Group Inc. Sold out 0.00% −0.07
GM General Motors Co. Sold out 0.00% −0.04
OTIS Otis Worldwide Corp. Sold out 0.00% −0.03

Portfolio Buys Q1 2025 → Q2 2025
DTM DT Midstream Inc. Add +132.6% 3.62% +2.29
TRP TC Energy Corp. Add +34.4% 4.52% +1.35
ENB Enbridge Inc. New 0.44% +0.44
LNG Cheniere Energy Inc. Add +4.0% 2.73% +0.30
SUN Sunoco LP Add +11.5% 4.71% +0.25
HESM Hess Midstream LP Class A Add +23.8% 1.60% +0.22
SHEL Shell PLC-ADR New 0.08% +0.08
AMCR Amcor PLC New 0.07% +0.07
ECG Everus Construction Group New 0.04% +0.04
ET Energy Transfer LP Add +0.2% 12.98% +0.04
MRP Millrose Properties New 0.04% +0.04
PLD Prologis Inc. New 0.04% +0.04
LLYVK Liberty Media Corp.-Liberty-C New 0.03% +0.03
CF CF Industries Holdings Inc. Add +7.3% 0.14% +0.03
NTR Nutrien Ltd. Add +14.9% 0.06% +0.02
ICL Icl Group Ltd. Add +37.7% 0.04% +0.01
SCCO Southern Copper Corp. Add +1.0% 0.06% +0.01

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