Recurrent Investment Advisors LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Recurrent Investment Advisors LLC reported 65 stock positions worth $1.2 billion. Its top holding was Energy Transfer (ET) at 7.4% of the portfolio, followed by Cheniere Energy (LNG, 7.3%) and Pembina Pipeline (PBA, 6.7%). Compared with Q4 2024, it opened 3 new positions, sold out of 3, added to 48 and reduced 7. The biggest buy was Pembina Pipeline (PBA, shares +22%) and the biggest sale Enterprise Products Partners (EPD, shares −7%).
- Most Recent 13F
- Q2 2026
- Location
- HOUSTON, TX
- CIK
- 0001803146
- Portfolio Value
- $1.2B (Q1 2025)
- SEC Filing
- 0001420506-25-001207 ↗ filed May 15, 2025
Holdings Value
Holdings 65 stocks · $1.2B
| ET Energy Transfer LP | 7.44% | 4,725,234 | $87.8M | Add +0.1% |
| LNG Cheniere Energy Inc. | 7.30% | 372,462 | $86.2M | Add +0.2% |
| PBA Pembina Pipeline Corp. | 6.75% | 1,982,211 | $79.6M | Add +22.2% |
| TRGP Targa Resources Corp. | 6.07% | 357,709 | $71.7M | Add +0.1% |
| CVE Cenovus Energy Inc. | 6.00% | 4,897,021 | $70.8M | Add +5.8% |
| SU Suncor Energy Inc. | 5.96% | 1,787,491 | $70.3M | Add +3.9% |
| OKE Oneok Inc. | 5.69% | 677,349 | $67.2M | Add +2.8% |
| EPD Enterprise Products Partners | 4.98% | 1,723,317 | $58.8M | Reduce -6.6% |
| PAGP Plains GP Holdings LP | 4.89% | 2,700,980 | $57.7M | Reduce -0.1% |
| WES Western Midstream Partners L | 4.71% | 1,357,630 | $55.6M | Reduce -2.9% |
| SUN Sunoco LP | 4.59% | 932,862 | $54.2M | Add +5.0% |
| KMI Kinder Morgan Inc. | 4.56% | 1,885,726 | $53.8M | Add +0.5% |
| PSX Phillips 66 | 4.35% | 415,614 | $51.3M | Add +5.7% |
| WMB Williams Cos Inc. | 4.31% | 851,524 | $50.9M | Reduce -0.1% |
| ARLP Alliance Resource Partners | 3.05% | 1,319,900 | $36.0M | Add +14.7% |
| DTM DT Midstream Inc. | 2.86% | 350,178 | $33.8M | Add +3.1% |
| PBF PBF Energy Inc. Class A | 2.37% | 1,463,615 | $27.9M | Add +54.8% |
| MPC Marathon Petroleum Corp. | 2.28% | 184,399 | $26.9M | Add +5.3% |
| VLO Valero Energy Corp. | 2.01% | 179,367 | $23.7M | Add +0.6% |
| ENB Enbridge Inc. | 1.74% | 463,550 | $20.5M | Add +0.5% |
| VNOM Viper Energy Inc. | 1.32% | 345,141 | $15.6M | Add +0.2% |
| TRP TC Energy Corp. | 0.90% | 223,890 | $10.6M | Add +10.7% |
| XOM Exxon Mobil Corp. | 0.53% | 52,131 | $6.2M | Add +1.6% |
| B Barrick Gold Corp. | 0.43% | 215,128 | $5.1M | Add +56.0% |
| NEM Newmont Corp. | 0.31% | 76,587 | $3.7M | Add +47.7% |
| NTR Nutrien Ltd. | 0.30% | 50,060 | $3.6M | Add +5.3% |
| CVX Chevron Corp. | 0.30% | 21,153 | $3.5M | No change |
| COP Conocophillips | 0.30% | 33,215 | $3.5M | Add +2.4% |
| FCX Freeport-McMoran Inc. | 0.24% | 73,332 | $2.8M | Add +2.9% |
| HES Hess Corp. | 0.23% | 17,042 | $2.7M | Add +29.4% |
| SEE Sealed Air Corp. | 0.22% | 89,853 | $2.6M | Add +49.2% |
| NUE Nucor Corp. | 0.22% | 21,122 | $2.5M | Reduce -8.0% |
| TECK Teck Resources Ltd.-CLS B | 0.18% | 47,097 | $2.1M | Add +2.8% |
| HAL Halliburton Co. | 0.16% | 72,264 | $1.8M | Add +1.9% |
| CNQ Canadian Natural Resources | 0.15% | 59,020 | $1.8M | No change |
| WLK Westlake Corp. | 0.15% | 18,098 | $1.8M | Add +19.7% |
| AA Alcoa Corp. | 0.14% | 53,291 | $1.6M | Add +2.1% |
| FANG Diamondback Energy Inc. | 0.13% | 9,670 | $1.5M | No change |
| MTDR Matador Resources Co. | 0.13% | 29,818 | $1.5M | Add +1.2% |
| SHEL Shell PLC-ADR | 0.12% | 52,088 | $1.5M | New |
| MT Arcelormittal-NY Registered | 0.12% | 53,072 | $1.4M | Reduce -44.9% |
| X United States Steel Corp. | 0.12% | 33,176 | $1.4M | New |
| BHP BHP Group Ltd.-Spon ADR | 0.11% | 27,385 | $1.3M | Add +5.5% |
| PKX Posco Holdings Inc. -Spon ADR | 0.10% | 24,951 | $1.2M | Add +90.5% |
| ALB Albemarle Corp. | 0.09% | 15,220 | $1.1M | New |
| EXE Expand Energy Corp. | 0.09% | 9,647 | $1.1M | Add +41.9% |
| DAR Darling Ingredients Inc. | 0.08% | 31,870 | $996K | Add +11.2% |
| DOW Dow Inc. | 0.08% | 28,262 | $987K | Add +5.5% |
| TTE Totalenergies SE -Spon ADR | 0.08% | 15,038 | $973K | Add +5.5% |
| RIO Rio Tinto PLC-Spon ADR | 0.08% | 15,517 | $932K | Add +5.5% |
| MUSA Murphy USA Inc. | 0.07% | 1,830 | $860K | Add +31.6% |
| WY Weyerhaeuser Co. | 0.06% | 24,040 | $704K | Add +5.6% |
| MOS The Mosaic Co. | 0.06% | 24,957 | $674K | Add +5.5% |
| CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC | 0.05% | 7,764 | $607K | Add +5.5% |
| EOG EOG Resources Inc. | 0.05% | 4,633 | $594K | No change |
| CCK Crown Holdings Inc. | 0.05% | 6,446 | $575K | No change |
| FMC FMC Corp. | 0.05% | 13,510 | $570K | Add +5.5% |
| SW Smurfit Westrock PLC | 0.04% | 11,780 | $531K | Reduce -68.2% |
| VST Vistra Corp. | 0.04% | 4,424 | $520K | Add +26.0% |
| BP BP PLC-Spons ADR | 0.04% | 111,818 | $489K | Add +5.5% |
| MLM Martin Marietta Materials | 0.04% | 1,007 | $481K | No change |
| CEG Constellation Energy | 0.04% | 2,153 | $434K | Add +22.4% |
| VALE Vale SA-SP ADR | 0.03% | 39,377 | $393K | Add +5.4% |
| ADM Archer-Daniels-Midland Co. | 0.03% | 7,092 | $340K | Add +5.5% |
| CCJ Cameco Corp. | 0.02% | 6,746 | $278K | No change |
Portfolio Sells Q4 2024 → Q1 2025
| EPD Enterprise Products Partners | Reduce -6.6% | 4.98% | −0.33 |
| WES Western Midstream Partners L | Reduce -2.9% | 4.71% | −0.22 |
| SW Smurfit Westrock PLC | Reduce -68.2% | 0.04% | −0.14 |
| SOBO South Bow Corp. | Sold out | 0.00% | −0.09 |
| MT Arcelormittal-NY Registered | Reduce -44.9% | 0.12% | −0.08 |
| IP International Paper Co. | Sold out | 0.00% | −0.08 |
| NUE Nucor Corp. | Reduce -8.0% | 0.22% | −0.03 |
| SUM Summit Materials Inc. Class A | Sold out | 0.00% | −0.03 |
| WMB Williams Cos Inc. | Reduce -0.1% | 4.31% | +0.08 |
| PAGP Plains GP Holdings LP | Reduce -0.1% | 4.89% | +0.32 |
Portfolio Buys Q4 2024 → Q1 2025
| PBA Pembina Pipeline Corp. | Add +22.2% | 6.75% | +1.22 |
| SUN Sunoco LP | Add +5.0% | 4.59% | +0.39 |
| ARLP Alliance Resource Partners | Add +14.7% | 3.05% | +0.27 |
| SU Suncor Energy Inc. | Add +3.9% | 5.96% | +0.24 |
| PSX Phillips 66 | Add +5.7% | 4.35% | +0.23 |
| TRGP Targa Resources Corp. | Add +0.1% | 6.07% | +0.22 |
| B Barrick Gold Corp. | Add +56.0% | 0.43% | +0.20 |
| NEM Newmont Corp. | Add +47.7% | 0.31% | +0.14 |
| SHEL Shell PLC-ADR | New | 0.12% | +0.12 |
| X United States Steel Corp. | New | 0.12% | +0.12 |
| ALB Albemarle Corp. | New | 0.09% | +0.09 |
| HES Hess Corp. | Add +29.4% | 0.23% | +0.07 |
| PBF PBF Energy Inc. Class A | Add +54.8% | 2.37% | +0.06 |
| PKX Posco Holdings Inc. -Spon ADR | Add +90.5% | 0.10% | +0.05 |
| MPC Marathon Petroleum Corp. | Add +5.3% | 2.28% | +0.03 |
| SEE Sealed Air Corp. | Add +49.2% | 0.22% | +0.03 |
| TRP TC Energy Corp. | Add +10.7% | 0.90% | +0.03 |
| EXE Expand Energy Corp. | Add +41.9% | 0.09% | +0.03 |
| NTR Nutrien Ltd. | Add +5.3% | 0.30% | +0.02 |
| XOM Exxon Mobil Corp. | Add +1.6% | 0.53% | +0.02 |
| TTE Totalenergies SE -Spon ADR | Add +5.5% | 0.08% | +0.01 |
| MUSA Murphy USA Inc. | Add +31.6% | 0.07% | +0.01 |
| MOS The Mosaic Co. | Add +5.5% | 0.06% | +0.00 |
| BP BP PLC-Spons ADR | Add +5.5% | 0.04% | +0.00 |
| VALE Vale SA-SP ADR | Add +5.4% | 0.03% | +0.00 |
| VLO Valero Energy Corp. | Add +0.6% | 2.01% | +0.00 |
| WY Weyerhaeuser Co. | Add +5.6% | 0.06% | +0.00 |
| CEG Constellation Energy | Add +22.4% | 0.04% | +0.00 |
| COP Conocophillips | Add +2.4% | 0.30% | +0.00 |
| RIO Rio Tinto PLC-Spon ADR | Add +5.5% | 0.08% | −0.00 |
| VST Vistra Corp. | Add +26.0% | 0.04% | −0.00 |
| ADM Archer-Daniels-Midland Co. | Add +5.5% | 0.03% | −0.00 |
| BHP BHP Group Ltd.-Spon ADR | Add +5.5% | 0.11% | −0.00 |
| DAR Darling Ingredients Inc. | Add +11.2% | 0.08% | −0.00 |
| WLK Westlake Corp. | Add +19.7% | 0.15% | −0.01 |
| CF CF Industries Holdings Inc. | Add +5.5% | 0.05% | −0.01 |
| FMC FMC Corp. | Add +5.5% | 0.05% | −0.01 |
| FCX Freeport-McMoran Inc. | Add +2.9% | 0.24% | −0.01 |
| DOW Dow Inc. | Add +5.5% | 0.08% | −0.01 |
| HAL Halliburton Co. | Add +1.9% | 0.16% | −0.02 |
| MTDR Matador Resources Co. | Add +1.2% | 0.13% | −0.02 |
| LNG Cheniere Energy Inc. | Add +0.2% | 7.30% | −0.03 |
| TECK Teck Resources Ltd.-CLS B | Add +2.8% | 0.18% | −0.03 |
| AA Alcoa Corp. | Add +2.1% | 0.14% | −0.04 |
| ENB Enbridge Inc. | Add +0.5% | 1.74% | −0.06 |
| KMI Kinder Morgan Inc. | Add +0.5% | 4.56% | −0.16 |
| VNOM Viper Energy Inc. | Add +0.2% | 1.32% | −0.23 |
| DTM DT Midstream Inc. | Add +3.1% | 2.86% | −0.24 |
| OKE Oneok Inc. | Add +2.8% | 5.69% | −0.38 |
| CVE Cenovus Energy Inc. | Add +5.8% | 6.00% | −0.69 |
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 |