Recurrent Investment Advisors LLC

In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Recurrent Investment Advisors LLC reported 71 stock positions worth $1.6 billion. Its top holding was Targa Resources (TRGP) at 7.8% of the portfolio, followed by Cenovus Energy (CVE, 7.6%) and Energy Transfer (ET, 7.0%). Compared with Q1 2026, it opened 4 new positions, added to 27 and reduced 22. The biggest buy was a new position in MPLX (MPLX) and the biggest sale Suncor Energy (SU, shares −24%).

Most Recent 13F
Q2 2026
Location
HOUSTON, TX
CIK
0001803146
Portfolio Value
$1.6B (Q2 2026)
SEC Filing
0001420506-26-001686 ↗ filed Aug 14, 2026

Holdings Value

0$500.0M$1.0B$1.5B$2.0B Q1 2024: $862.5M Q1 2024 Q2 2024: $949.9M Q2 2024 Q3 2024: $1.0B Q3 2024 Q4 2024: $1.1B Q4 2024 Q1 2025: $1.2B Q1 2025 Q2 2025: $1.2B Q2 2025 Q3 2025: $1.3B Q3 2025 Q4 2025: $1.4B Q4 2025 Q1 2026: $1.7B Q1 2026 Q2 2026: $1.6B $1.6B Q2 2026

Holdings 71 stocks · $1.6B
TRGP Targa Resources Corp. 7.83% 470,637 $126.2M Reduce -0.3%
CVE Cenovus Energy Inc. 7.61% 4,739,325 $122.6M Reduce -18.3%
ET Energy Transfer LP 7.04% 5,935,394 $113.5M Add +6.7%
OKE Oneok Inc. 6.26% 1,159,957 $100.8M Add +0.3%
KMI Kinder Morgan Inc. 5.12% 2,578,529 $82.4M Add +6.1%
MUSA Murphy USA Inc. 4.88% 146,263 $78.6M Add +0.1%
SUN Sunoco LP 4.82% 1,149,434 $77.6M Add +11.8%
EPD Enterprise Products Partners 4.64% 2,031,416 $74.7M Add +21.2%
LNG Cheniere Energy Inc. 4.47% 301,353 $72.0M Add +0.4%
PBA Pembina Pipeline Corp. 4.32% 1,498,252 $69.6M Add +0.3%
PSX Phillips 66 4.23% 403,016 $68.1M Reduce -2.7%
SU Suncor Energy Inc. 3.89% 1,145,921 $62.7M Reduce -24.4%
WMB Williams Cos Inc. 3.52% 762,867 $56.7M No change
DTM DT Midstream Inc. 3.23% 355,154 $52.1M Reduce 0.0%
WES Western Midstream Partners L 3.08% 1,133,291 $49.6M Reduce -0.1%
ENB Enbridge Inc. 2.97% 882,892 $47.9M Add +89.6%
PAGP Plains GP Holdings LP 2.71% 1,791,325 $43.6M Reduce -15.7%
SOBO South Bow Corp. 2.53% 1,158,738 $40.8M Reduce -0.2%
PBF PBF Energy Inc. Class A 2.06% 729,534 $33.2M Reduce -27.3%
MPLX MPLX LP 1.90% 544,714 $30.7M New
VG Venture Global Inc. Class A 1.40% 2,025,792 $22.5M New
MPC Marathon Petroleum Corp. 1.36% 85,799 $21.9M Reduce -52.6%
VNOM Viper Energy Inc. Class A 1.23% 468,061 $19.8M Reduce -52.7%
B Barrick Mining Corp. 0.64% 234,844 $10.3M Add +0.0%
DOW Dow Inc. filed as DOW HLDGS INC 0.62% 365,815 $10.0M Add +9.1%
WLK Westlake Corp. 0.58% 128,771 $9.4M Add +14.2%
EMN Eastman Chemical Co. 0.56% 135,851 $9.1M Add +55.9%
NEM Newmont Corp. 0.56% 97,245 $9.1M No change
HUN Huntsman Corp. 0.52% 792,476 $8.4M Add +47.9%
XOM Exxon Mobil Corp. 0.49% 58,314 $8.0M Add +0.0%
LYB Lyondellbasell Indu Class A 0.47% 144,709 $7.6M Add +15.3%
CVX Chevron Corp. 0.44% 43,165 $7.2M Add +0.0%
NTR Nutrien Ltd. 0.29% 52,357 $4.7M Reduce -0.0%
KGC Kinross Gold Corp. 0.24% 147,739 $3.9M New
MTDR Matador Resources Co. 0.24% 77,047 $3.8M Add +0.1%
NUE Nucor Corp. 0.23% 16,621 $3.7M Add +0.0%
COP Conocophillips 0.22% 33,972 $3.5M No change
FCX Freeport-McMoran Inc. 0.20% 52,486 $3.3M Reduce -0.1%
TECK Teck Resources Ltd.-CLS B 0.19% 40,394 $3.0M No change
VALE Vale SA-SP ADR 0.18% 196,192 $3.0M Add +0.0%
RIO Rio Tinto PLC-Spon ADR 0.16% 27,245 $2.6M Reduce -0.0%
HAL Halliburton Co. 0.16% 73,663 $2.5M Add +0.0%
CNQ Canadian Natural Resources 0.15% 59,242 $2.3M No change
BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED 0.14% 27,262 $2.3M Reduce -0.0%
FANG Diamondback Energy Inc. 0.13% 11,756 $2.1M No change
SUNC Sunococorp LLC 0.11% 26,080 $1.8M Add +69.6%
SHEL Shell PLC-ADR 0.10% 56,587 $1.7M Add +0.8%
DAR Darling Ingredients Inc. 0.09% 27,265 $1.5M No change
CRH CRH PLC 0.09% 13,549 $1.4M Add +44.1%
EXE Expand Energy Corp. 0.09% 15,646 $1.4M Add +61.5%
SW Smurfit Westrock PLC 0.07% 26,095 $1.2M No change
MOS The Mosaic Co. 0.07% 54,542 $1.2M Add +0.2%
IP International Paper Co. 0.07% 28,324 $1.1M Add +0.2%
TTE Totalenergies SE 0.07% 15,824 $1.1M No change
CCK Crown Holdings Inc. 0.07% 9,406 $1.1M No change
TRP TC Energy Corp. 0.06% 14,455 $958K No change
CF CF Industries Holdings Inc. 0.05% 8,163 $884K No change
MT Arcelormittal-NY Registered 0.05% 15,371 $810K Reduce -0.2%
AA Alcoa Corp. 0.05% 15,100 $787K Reduce -0.2%
CCJ Cameco Corp. 0.04% 6,757 $688K No change
PKX Posco Holdings Inc. -Spon ADR 0.04% 12,422 $638K Reduce -50.2%
WY Weyerhaeuser Co. 0.04% 25,134 $602K Reduce -0.0%
EOG EOG Resources Inc. 0.04% 4,637 $602K No change
BP BP PLC-Spons ADR 0.04% 126,792 $594K New
VLO Valero Energy Corp. 0.04% 2,251 $586K No change
MLM Martin Marietta Materials 0.04% 1,008 $581K No change
ADM Archer-Daniels-Midland Co. 0.04% 7,392 $565K Reduce -0.1%
KNTK Kinetik Holdings Inc. 0.03% 9,970 $482K Reduce -14.8%
VST Vistra Corp. 0.03% 2,822 $448K No change
ALB Albemarle Corp. 0.02% 2,537 $343K Reduce -59.6%
CEG Constellation Energy 0.02% 1,311 $326K No change

Portfolio Sells Q1 2026 → Q2 2026
SU Suncor Energy Inc. Reduce -24.4% 3.89% −2.24
CVE Cenovus Energy Inc. Reduce -18.3% 7.61% −2.00
VNOM Viper Energy Inc. Class A Reduce -52.7% 1.23% −1.57
MPC Marathon Petroleum Corp. Reduce -52.6% 1.36% −1.30
PBF PBF Energy Inc. Class A Reduce -27.3% 2.06% −0.81
PAGP Plains GP Holdings LP Reduce -15.7% 2.71% −0.39
PSX Phillips 66 Reduce -2.7% 4.23% −0.31
PKX Posco Holdings Inc. -Spon ADR Reduce -50.2% 0.04% −0.05
ALB Albemarle Corp. Reduce -59.6% 0.02% −0.05
NTR Nutrien Ltd. Reduce -0.0% 0.29% −0.04
AA Alcoa Corp. Reduce -0.2% 0.05% −0.01
KNTK Kinetik Holdings Inc. Reduce -14.8% 0.03% −0.00
WY Weyerhaeuser Co. Reduce -0.0% 0.04% +0.00
ADM Archer-Daniels-Midland Co. Reduce -0.1% 0.04% +0.00
RIO Rio Tinto PLC-Spon ADR Reduce -0.0% 0.16% +0.01
MT Arcelormittal-NY Registered Reduce -0.2% 0.05% +0.01
FCX Freeport-McMoran Inc. Reduce -0.1% 0.20% +0.02
BHP BHP Group Ltd.-Spon ADR Reduce -0.0% 0.14% +0.02
SOBO South Bow Corp. Reduce -0.2% 2.53% +0.21
WES Western Midstream Partners L Reduce -0.1% 3.08% +0.27
DTM DT Midstream Inc. Reduce 0.0% 3.23% +0.36
TRGP Targa Resources Corp. Reduce -0.3% 7.83% +0.71

Portfolio Buys Q1 2026 → Q2 2026
MPLX MPLX LP New 1.90% +1.90
ENB Enbridge Inc. Add +89.6% 2.97% +1.45
VG Venture Global Inc. Class A New 1.40% +1.40
EPD Enterprise Products Partners Add +21.2% 4.64% +0.82
SUN Sunoco LP Add +11.8% 4.82% +0.80
ET Energy Transfer LP Add +6.7% 7.04% +0.58
MUSA Murphy USA Inc. Add +0.1% 4.88% +0.55
PBA Pembina Pipeline Corp. Add +0.3% 4.32% +0.28
KGC Kinross Gold Corp. New 0.24% +0.24
KMI Kinder Morgan Inc. Add +6.1% 5.12% +0.21
EMN Eastman Chemical Co. Add +55.9% 0.56% +0.16
HUN Huntsman Corp. Add +47.9% 0.52% +0.09
NUE Nucor Corp. Add +0.0% 0.23% +0.06
SUNC Sunococorp LLC Add +69.6% 0.11% +0.05
BP BP PLC-Spons ADR New 0.04% +0.04
CRH CRH PLC Add +44.1% 0.09% +0.03
EXE Expand Energy Corp. Add +61.5% 0.09% +0.02
IP International Paper Co. Add +0.2% 0.07% +0.01
VALE Vale SA-SP ADR Add +0.0% 0.18% −0.00
MOS The Mosaic Co. Add +0.2% 0.07% −0.01
HAL Halliburton Co. Add +0.0% 0.16% −0.02
SHEL Shell PLC-ADR Add +0.8% 0.10% −0.02
OKE Oneok Inc. Add +0.3% 6.26% −0.03
B Barrick Mining Corp. Add +0.0% 0.64% −0.04
MTDR Matador Resources Co. Add +0.1% 0.24% −0.05
CVX Chevron Corp. Add +0.0% 0.44% −0.09
XOM Exxon Mobil Corp. Add +0.0% 0.49% −0.10
LYB Lyondellbasell Indu Class A Add +15.3% 0.47% −0.14
WLK Westlake Corp. Add +14.2% 0.58% −0.21
DOW Dow Inc. Add +9.1% 0.62% −0.22
LNG Cheniere Energy Inc. Add +0.4% 4.47% −0.65

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 71$1.6BTRGP, CVE, ET, OKE, KMI
Q1 2026 67$1.7BCVE, TRGP, ET, OKE, SU
Q4 2025 71$1.4BCVE, TRGP, ET, OKE, KEY
Q3 2025 64$1.3BCVE, ET, TRGP, OKE, SU
Q2 2025 64$1.2BCVE, ET, OKE, TRGP, LNG
Q1 2025 65$1.2BET, LNG, PBA, TRGP, CVE
Q4 2024 65$1.1BET, LNG, CVE, OKE, TRGP
Q3 2024 54$1.0BET, CVE, PBA, LNG, SU
Q2 2024 51$949.9MCVE, ET, LNG, PBA, SU
Q1 2024 50$862.5MCVE, ET, ETRN, SU, PBA