Recurrent Investment Advisors LLC
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Recurrent Investment Advisors LLC reported 65 stock positions worth $1.1 billion. Its top holding was Energy Transfer (ET) at 8.5% of the portfolio, followed by Cheniere Energy (LNG, 7.3%) and Cenovus Energy (CVE, 6.7%). Compared with Q3 2024, it opened 13 new positions, sold out of 3, added to 28 and reduced 24. The biggest buy was Energy Transfer (ET, shares +3%) and the biggest sale an exit from Eqt (EQT).
- Most Recent 13F
- Q2 2026
- Location
- HOUSTON, TX
- CIK
- 0001803146
- Portfolio Value
- $1.1B (Q4 2024)
- SEC Filing
- 0001420506-25-000549 ↗ filed Feb 14, 2025
Holdings Value
Holdings 65 stocks · $1.1B
| ET Energy Transfer LP | 8.49% | 4,720,835 | $92.5M | Add +3.0% |
| LNG Cheniere Energy Inc. | 7.33% | 371,715 | $79.9M | Add +1.1% |
| CVE Cenovus Energy Inc. | 6.69% | 4,629,912 | $72.9M | Add +12.9% |
| OKE Oneok Inc. | 6.07% | 658,804 | $66.1M | Reduce -1.3% |
| TRGP Targa Resources Corp. | 5.85% | 357,290 | $63.8M | Reduce -1.3% |
| SU Suncor Energy Inc. | 5.72% | 1,719,856 | $62.3M | Add +3.9% |
| PBA Pembina Pipeline Corp. | 5.52% | 1,621,868 | $60.2M | Reduce -1.0% |
| EPD Enterprise Products Partners | 5.31% | 1,845,243 | $57.9M | Add +14.7% |
| WES Western Midstream Partners L | 4.93% | 1,397,780 | $53.7M | Add +0.1% |
| KMI Kinder Morgan Inc. | 4.72% | 1,875,707 | $51.4M | Reduce -0.9% |
| PAGP Plains GP Holdings LP | 4.57% | 2,702,744 | $49.8M | Reduce -1.9% |
| WMB Williams Cos Inc. | 4.23% | 852,025 | $46.1M | Reduce -1.0% |
| SUN Sunoco LP | 4.20% | 888,862 | $45.7M | Add +2.9% |
| PSX Phillips 66 | 4.11% | 393,339 | $44.8M | Add +4.6% |
| DTM DT Midstream Inc. | 3.10% | 339,529 | $33.8M | Add +3.6% |
| ARLP Alliance Resource Partners | 2.78% | 1,151,070 | $30.3M | Add +0.5% |
| PBF PBF Energy Inc. Class A | 2.30% | 945,239 | $25.1M | Add +154.0% |
| MPC Marathon Petroleum Corp. | 2.24% | 175,065 | $24.4M | Add +15.8% |
| VLO Valero Energy Corp. | 2.01% | 178,271 | $21.9M | Add +7.4% |
| ENB Enbridge Inc. | 1.80% | 461,102 | $19.6M | Add +1.3% |
| VNOM Viper Energy Inc. | 1.55% | 344,570 | $16.9M | Reduce -31.7% |
| TRP TC Energy Corp. | 0.86% | 202,334 | $9.4M | Add +10.4% |
| XOM Exxon Mobil Corp. | 0.51% | 51,325 | $5.5M | Add +415.9% |
| COP Conocophillips | 0.30% | 32,436 | $3.2M | Add +111.8% |
| CVX Chevron Corp. | 0.28% | 21,153 | $3.1M | New |
| NTR Nutrien Ltd. | 0.28% | 47,560 | $3.1M | Reduce -5.9% |
| FCX Freeport-McMoran Inc. | 0.25% | 71,263 | $2.7M | Add +77.1% |
| NUE Nucor Corp. | 0.25% | 22,945 | $2.7M | Add +86.0% |
| B Barrick Gold Corp. | 0.24% | 137,861 | $2.6M | Add +102.7% |
| TECK Teck Resources Ltd.-CLS B | 0.21% | 45,829 | $2.3M | Add +18.8% |
| MT Arcelormittal-NY Registered | 0.20% | 96,390 | $2.2M | Reduce -5.8% |
| SEE Sealed Air Corp. | 0.19% | 60,226 | $2.0M | Add +219.3% |
| SW Smurfit Westrock PLC | 0.18% | 37,071 | $2.0M | Add +100.9% |
| AA Alcoa Corp. | 0.18% | 52,194 | $2.0M | Reduce -33.1% |
| NEM Newmont Corp. | 0.18% | 51,839 | $1.9M | Add +83.5% |
| HAL Halliburton Co. | 0.18% | 70,944 | $1.9M | Add +176.3% |
| CNQ Canadian Natural Resources | 0.17% | 59,020 | $1.8M | New |
| HES Hess Corp. | 0.16% | 13,174 | $1.8M | New |
| WLK Westlake Corp. | 0.16% | 15,118 | $1.7M | Add +63.6% |
| MTDR Matador Resources Co. | 0.15% | 29,468 | $1.7M | New |
| FANG Diamondback Energy Inc. | 0.15% | 9,670 | $1.6M | New |
| BHP BHP Group Ltd.-Spon ADR | 0.12% | 25,950 | $1.3M | Reduce -6.4% |
| DOW Dow Inc. | 0.10% | 26,781 | $1.1M | Reduce -6.7% |
| SOBO South Bow Corp. | 0.09% | 31,628 | $994K | Reduce -13.7% |
| DAR Darling Ingredients Inc. | 0.09% | 28,655 | $965K | Add +34.9% |
| RIO Rio Tinto PLC-Spon ADR | 0.08% | 14,704 | $865K | Reduce -6.4% |
| IP International Paper Co. | 0.08% | 15,356 | $826K | Reduce -6.4% |
| TTE Totalenergies SE -Spon ADR | 0.07% | 14,250 | $777K | Reduce -7.7% |
| MUSA Murphy USA Inc. | 0.06% | 1,390 | $697K | Add +20.9% |
| EXE Expand Energy Corp. | 0.06% | 6,797 | $677K | New |
| WY Weyerhaeuser Co. | 0.06% | 22,771 | $641K | Reduce -6.4% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.06% | 7,357 | $628K | Reduce -6.5% |
| FMC FMC Corp. | 0.06% | 12,802 | $622K | Reduce -6.5% |
| MOS The Mosaic Co. | 0.05% | 23,658 | $582K | Reduce -6.4% |
| PKX Posco Holdings Inc. -Spon ADR | 0.05% | 13,100 | $568K | Reduce -6.4% |
| EOG EOG Resources Inc. | 0.05% | 4,633 | $568K | New |
| CCK Crown Holdings Inc. | 0.05% | 6,446 | $533K | New |
| MLM Martin Marietta Materials | 0.05% | 1,007 | $520K | New |
| VST Vistra Corp. | 0.04% | 3,510 | $484K | New |
| BP BP PLC-Spons ADR | 0.04% | 105,944 | $418K | Reduce -3.3% |
| CEG Constellation Energy | 0.04% | 1,759 | $394K | New |
| CCJ Cameco Corp. | 0.03% | 6,746 | $347K | New |
| ADM Archer-Daniels-Midland Co. | 0.03% | 6,720 | $339K | Reduce -6.5% |
| SUM Summit Materials Inc. Class A | 0.03% | 6,548 | $331K | New |
| VALE Vale SA-SP ADR | 0.03% | 37,349 | $331K | Reduce -6.4% |
Portfolio Sells Q3 2024 → Q4 2024
| EQT Eqt Corp. | Sold out | 0.00% | −2.11 |
| PBA Pembina Pipeline Corp. | Reduce -1.0% | 5.52% | −1.24 |
| VNOM Viper Energy Inc. | Reduce -31.7% | 1.55% | −0.71 |
| PAGP Plains GP Holdings LP | Reduce -1.9% | 4.57% | −0.51 |
| SHEL Shell PLC-ADR | Sold out | 0.00% | −0.13 |
| AA Alcoa Corp. | Reduce -33.1% | 0.18% | −0.12 |
| DOW Dow Inc. | Reduce -6.7% | 0.10% | −0.06 |
| BHP BHP Group Ltd.-Spon ADR | Reduce -6.4% | 0.12% | −0.06 |
| NTR Nutrien Ltd. | Reduce -5.9% | 0.28% | −0.05 |
| PKX Posco Holdings Inc. -Spon ADR | Reduce -6.4% | 0.05% | −0.05 |
| MT Arcelormittal-NY Registered | Reduce -5.8% | 0.20% | −0.04 |
| FMC FMC Corp. | Reduce -6.5% | 0.06% | −0.03 |
| RIO Rio Tinto PLC-Spon ADR | Reduce -6.4% | 0.08% | −0.03 |
| TTE Totalenergies SE -Spon ADR | Reduce -7.7% | 0.07% | −0.03 |
| SOBO South Bow Corp. | Reduce -13.7% | 0.09% | −0.02 |
| WY Weyerhaeuser Co. | Reduce -6.4% | 0.06% | −0.02 |
| CWEN Clearway Energy Inc. Class C | Sold out | 0.00% | −0.02 |
| VALE Vale SA-SP ADR | Reduce -6.4% | 0.03% | −0.02 |
| MOS The Mosaic Co. | Reduce -6.4% | 0.05% | −0.01 |
| ADM Archer-Daniels-Midland Co. | Reduce -6.5% | 0.03% | −0.01 |
| CF CF Industries Holdings Inc. | Reduce -6.5% | 0.06% | −0.01 |
| BP BP PLC-Spons ADR | Reduce -3.3% | 0.04% | −0.00 |
| IP International Paper Co. | Reduce -6.4% | 0.08% | −0.00 |
| OKE Oneok Inc. | Reduce -1.3% | 6.07% | +0.02 |
| WMB Williams Cos Inc. | Reduce -1.0% | 4.23% | +0.32 |
| TRGP Targa Resources Corp. | Reduce -1.3% | 5.85% | +0.53 |
| KMI Kinder Morgan Inc. | Reduce -0.9% | 4.72% | +0.56 |
Portfolio Buys Q3 2024 → Q4 2024
| ET Energy Transfer LP | Add +3.0% | 8.49% | +1.18 |
| PBF PBF Energy Inc. Class A | Add +154.0% | 2.30% | +1.16 |
| LNG Cheniere Energy Inc. | Add +1.1% | 7.33% | +0.76 |
| EPD Enterprise Products Partners | Add +14.7% | 5.31% | +0.66 |
| DTM DT Midstream Inc. | Add +3.6% | 3.10% | +0.53 |
| XOM Exxon Mobil Corp. | Add +415.9% | 0.51% | +0.39 |
| CVX Chevron Corp. | New | 0.28% | +0.28 |
| CNQ Canadian Natural Resources | New | 0.17% | +0.17 |
| HES Hess Corp. | New | 0.16% | +0.16 |
| MTDR Matador Resources Co. | New | 0.15% | +0.15 |
| FANG Diamondback Energy Inc. | New | 0.15% | +0.15 |
| COP Conocophillips | Add +111.8% | 0.30% | +0.14 |
| SEE Sealed Air Corp. | Add +219.3% | 0.19% | +0.12 |
| HAL Halliburton Co. | Add +176.3% | 0.18% | +0.10 |
| SW Smurfit Westrock PLC | Add +100.9% | 0.18% | +0.09 |
| EXE Expand Energy Corp. | New | 0.06% | +0.06 |
| NUE Nucor Corp. | Add +86.0% | 0.25% | +0.06 |
| B Barrick Gold Corp. | Add +102.7% | 0.24% | +0.05 |
| EOG EOG Resources Inc. | New | 0.05% | +0.05 |
| FCX Freeport-McMoran Inc. | Add +77.1% | 0.25% | +0.05 |
| CCK Crown Holdings Inc. | New | 0.05% | +0.05 |
| MLM Martin Marietta Materials | New | 0.05% | +0.05 |
| VST Vistra Corp. | New | 0.04% | +0.04 |
| CEG Constellation Energy | New | 0.04% | +0.04 |
| CCJ Cameco Corp. | New | 0.03% | +0.03 |
| SUM Summit Materials Inc. Class A | New | 0.03% | +0.03 |
| NEM Newmont Corp. | Add +83.5% | 0.18% | +0.03 |
| WLK Westlake Corp. | Add +63.6% | 0.16% | +0.02 |
| DAR Darling Ingredients Inc. | Add +34.9% | 0.09% | +0.01 |
| MUSA Murphy USA Inc. | Add +20.9% | 0.06% | +0.01 |
| TRP TC Energy Corp. | Add +10.4% | 0.86% | −0.00 |
| ENB Enbridge Inc. | Add +1.3% | 1.80% | −0.04 |
| TECK Teck Resources Ltd.-CLS B | Add +18.8% | 0.21% | −0.06 |
| ARLP Alliance Resource Partners | Add +0.5% | 2.78% | −0.07 |
| MPC Marathon Petroleum Corp. | Add +15.8% | 2.24% | −0.21 |
| VLO Valero Energy Corp. | Add +7.4% | 2.01% | −0.22 |
| CVE Cenovus Energy Inc. | Add +12.9% | 6.69% | −0.25 |
| WES Western Midstream Partners L | Add +0.1% | 4.93% | −0.38 |
| SUN Sunoco LP | Add +2.9% | 4.20% | −0.42 |
| SU Suncor Energy Inc. | Add +3.9% | 5.72% | −0.44 |
| PSX Phillips 66 | Add +4.6% | 4.11% | −0.80 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 71 | $1.6B | TRGP, CVE, ET, OKE, KMI |
| Q1 2026 | 67 | $1.7B | CVE, TRGP, ET, OKE, SU |
| Q4 2025 | 71 | $1.4B | CVE, TRGP, ET, OKE, KEY |
| Q3 2025 | 64 | $1.3B | CVE, ET, TRGP, OKE, SU |
| Q2 2025 | 64 | $1.2B | CVE, ET, OKE, TRGP, LNG |
| Q1 2025 | 65 | $1.2B | ET, LNG, PBA, TRGP, CVE |
| Q4 2024 | 65 | $1.1B | ET, LNG, CVE, OKE, TRGP |
| Q3 2024 | 54 | $1.0B | ET, CVE, PBA, LNG, SU |
| Q2 2024 | 51 | $949.9M | CVE, ET, LNG, PBA, SU |
| Q1 2024 | 50 | $862.5M | CVE, ET, ETRN, SU, PBA |