Fractal Investments LLC

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed January 27, 2026), Fractal Investments LLC reported 80 stock positions worth $716.2 million. Its top holding was MPLX (MPLX) at 15.3% of the portfolio, followed by Energy Transfer (ET, 11.0%) and Plains All Amer Pipeline (PAA, 9.1%). Compared with Q3 2025, it opened 9 new positions, sold out of 6, added to 6 and reduced 4. The biggest buy was Williams Cos (WMB, shares +38%) and the biggest sale Oneok (OKE, shares −25%).

Most Recent 13F
Q2 2026
Location
Glastonbury, CT
CIK
0001843590
Portfolio Value
$716.2M (Q4 2025)
SEC Filing
0002085853-26-000101 ↗ filed Jan 27, 2026

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 Q2 2025 Q3 2025: $692.7M Q3 2025 Q4 2025: $716.2M $716.2M Q4 2025 Q1 2026: $845.0M Q1 2026 Q2 2026: $866.9M Q2 2026

Holdings 80 stocks · $716.2M
MPLX MPLX LP 15.29% 2,051,301 $109.5M No change
ET Energy Transfer LP 11.05% 4,797,715 $79.1M No change
PAA Plains All Amer Pipeline LP 9.09% 3,625,784 $65.1M Reduce -5.2%
WES Western Midstream Partners L 8.70% 1,577,806 $62.3M Add +7.5%
EPD Enterprise Products Partners 8.22% 1,837,044 $58.9M No change
WMB Williams Cos Inc. 6.83% 814,000 $48.9M Add +37.6%
HESM Hess Midstream LP Class A 5.71% 1,185,220 $40.9M No change
TRP TC Energy Corp. 4.98% 649,000 $35.7M No change
SUN Sunoco LP 4.51% 616,542 $32.3M No change
TRGP Targa Resources Corp. 4.08% 158,424 $29.2M No change
DTM DT Midstream Inc. 3.86% 230,999 $27.6M No change
KMI Kinder Morgan Inc. 3.28% 854,638 $23.5M No change
LNG Cheniere Energy Inc. 2.13% 78,585 $15.3M No change
OKE Oneok Inc. 1.61% 156,630 $11.5M Reduce -24.6%
CQP Cheniere Energy Partners LP 1.45% 194,126 $10.4M No change
NGL NGL Energy Partners LP 1.16% 832,479 $8.3M No change
GLP Global Partners LP 1.14% 195,234 $8.2M No change
GEL Genesis Energy L.P. 0.75% 343,243 $5.4M No change
SPH Suburban Propane Partners LP 0.56% 214,864 $4.0M No change
ENB Enbridge Inc. 0.45% 67,500 $3.2M No change
GEV GE Vernova Inc. 0.36% 3,949 $2.6M Reduce -34.2%
NEM Newmont Corp. 0.24% 17,000 $1.7M No change
WLKP Westlake Chemical Partners L 0.21% 80,400 $1.5M No change
CEG Constellation Energy 0.20% 3,985 $1.4M Reduce -27.6%
SOLS Solstice Adv Materials Inc. 0.17% 25,100 $1.2M New
SMC Summit Midstream Corp. 0.17% 45,000 $1.2M No change
SNDK Sandisk Corp. 0.15% 4,400 $1.0M New
GEHC GE Healthcare Technology 0.14% 12,601 $1.0M No change
KNTK Kinetik Holdings Inc. 0.14% 27,502 $991K No change
GLD SPDR Gold Shares 0.14% 2,500 $991K No change
Q Qnity Electronics Inc. 0.14% 12,000 $980K New
XOM Exxon Mobil Corp. 0.13% 7,861 $946K No change
PHIN Phinia Inc. 0.13% 14,900 $934K Add +12.9%
CR Crane Co. 0.13% 4,900 $904K No change
VLTO Veralto Corp. 0.12% 8,800 $878K Add +12.8%
AEM Agnico Eagle Mines Ltd. 0.11% 4,809 $815K No change
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 0.11% 10,300 $797K No change
FCX Freeport-McMoran Inc. 0.11% 15,068 $765K No change
B Barrick Mining Corp. 0.10% 16,400 $714K No change
RIO Rio Tinto PLC-Spon ADR 0.09% 8,200 $656K No change
ESAB Esab Corp. 0.09% 5,777 $645K No change
PH Parker Hannifin Corp. 0.09% 730 $642K No change
CVX Chevron Corp. 0.09% 4,200 $640K No change
SCCO Southern Copper Corp. 0.09% 4,340 $623K Add +0.8%
MLI Mueller Industries Inc. 0.08% 4,926 $566K No change
SHEL Shell PLC-ADR 0.08% 7,500 $551K No change
BHP BHP Group Ltd.-Spon ADR 0.08% 9,000 $543K No change
NATL NCR Atleos Corp. 0.07% 12,700 $484K No change
NTR Nutrien Ltd. 0.07% 7,700 $475K No change
DKL Delek Logistics Partners LP 0.07% 10,559 $471K No change
FTV Fortive Corp. 0.06% 8,400 $464K New
STLD Steel Dynamics Inc. 0.06% 2,694 $456K No change
AMCR Amcor PLC 0.06% 52,925 $441K No change
CMC Commercial Metals Co. 0.06% 6,200 $429K No change
LLYVK Liberty Live Holdings Class C 0.06% 5,143 $428K Add +87.5%
COP Conocophillips 0.06% 4,492 $420K No change
ECG Everus Construction Group 0.06% 4,900 $419K No change
MPC Marathon Petroleum Corp. 0.05% 2,291 $373K No change
PKG Packaging Corp. of America 0.05% 1,800 $371K No change
INGR Ingredion Inc. 0.05% 3,285 $362K No change
MBC Masterbrand Inc. 0.05% 29,328 $324K No change
CARR Carrier Global Corp. 0.04% 6,030 $319K No change
TT Trane Technologies PLC 0.04% 800 $311K No change
PLD Prologis Inc. 0.04% 2,400 $306K No change
NUE Nucor Corp. 0.04% 1,868 $305K No change
RS Reliance Inc. 0.04% 1,000 $289K No change
PAAS Pan American Silver Corp. 0.04% 5,567 $288K No change
SU Suncor Energy Inc. 0.04% 6,400 $284K No change
MRP Millrose Properties 0.04% 9,000 $269K No change
CAT Caterpillar Inc. 0.04% 442 $253K No change
ETN Eaton Corp. PLC 0.03% 749 $239K No change
VLO Valero Energy Corp. 0.03% 1,360 $221K No change
MT Arcelormittal-NY Registered 0.03% 4,800 $219K New
BG Bunge Global SA 0.03% 2,400 $214K New
ICL Icl Group Ltd. 0.03% 36,500 $208K No change
SLVM Sylvamo Corp. 0.03% 4,300 $207K New
HAL Halliburton Co. 0.03% 7,200 $203K New
GE General Electric filed as GE AEROSPACE 0.03% 660 $203K New
FIP Ftai Infrastructure Inc. 0.02% 33,000 $152K No change
GGB Gerdau SA -Spon ADR 0.02% 33,264 $123K No change

Portfolio Sells Q3 2025 → Q4 2025
OKE Oneok Inc. Reduce -24.6% 1.61% −0.58
PAA Plains All Amer Pipeline LP Reduce -5.2% 9.09% −0.33
GEV GE Vernova Inc. Reduce -34.2% 0.36% −0.17
ARMK Aramark Sold out 0.00% −0.09
KNF Knife River Corp. Sold out 0.00% −0.07
CEG Constellation Energy Reduce -27.6% 0.20% −0.06
CXT Crane NXT Co. Sold out 0.00% −0.06
MMM 3M Co. Sold out 0.00% −0.06
K Kellanova Sold out 0.00% −0.04
RXO Rxo Inc. Sold out 0.00% −0.03

Portfolio Buys Q3 2025 → Q4 2025
WMB Williams Cos Inc. Add +37.6% 6.83% +1.42
WES Western Midstream Partners L Add +7.5% 8.70% +0.38
SOLS Solstice Adv Materials Inc. New 0.17% +0.17
SNDK Sandisk Corp. New 0.15% +0.15
Q Qnity Electronics Inc. New 0.14% +0.14
FTV Fortive Corp. New 0.06% +0.06
MT Arcelormittal-NY Registered New 0.03% +0.03
BG Bunge Global SA New 0.03% +0.03
SLVM Sylvamo Corp. New 0.03% +0.03
GE General Electric New 0.03% +0.03
HAL Halliburton Co. New 0.03% +0.03
LLYVK Liberty Live Holdings Class C Add +87.5% 0.06% +0.02
PHIN Phinia Inc. Add +12.9% 0.13% +0.02
SCCO Southern Copper Corp. Add +0.8% 0.09% +0.01
VLTO Veralto Corp. Add +12.8% 0.12% +0.00

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