Recurrent Investment Advisors LLC
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Recurrent Investment Advisors LLC reported 67 stock positions worth $1.7 billion. Its top holding was Cenovus Energy (CVE) at 9.6% of the portfolio, followed by Targa Resources (TRGP, 7.1%) and Energy Transfer (ET, 6.5%). Compared with Q4 2025, it sold out of 4, added to 41 and reduced 17. The biggest buy was Kinder Morgan (KMI, shares +64%) and the biggest sale an exit from Keycorp (KEY).
- Most Recent 13F
- Q2 2026
- Location
- HOUSTON, TX
- CIK
- 0001803146
- Portfolio Value
- $1.7B (Q1 2026)
- SEC Filing
- 0001420506-26-001065 ↗ filed May 15, 2026
Holdings Value
Holdings 67 stocks · $1.7B
| CVE Cenovus Energy Inc. | 9.61% | 5,799,641 | $159.6M | Reduce -8.9% |
| TRGP Targa Resources Corp. | 7.12% | 471,801 | $118.3M | Reduce -10.7% |
| ET Energy Transfer LP | 6.46% | 5,562,381 | $107.4M | Add +3.9% |
| OKE Oneok Inc. | 6.29% | 1,156,034 | $104.5M | Add +0.3% |
| SU Suncor Energy Inc. | 6.14% | 1,515,161 | $101.9M | Reduce -13.9% |
| LNG Cheniere Energy Inc. | 5.13% | 300,074 | $85.1M | Add +13.5% |
| KMI Kinder Morgan Inc. | 4.91% | 2,430,444 | $81.5M | Add +63.6% |
| PSX Phillips 66 | 4.54% | 414,064 | $75.4M | Reduce -8.9% |
| MUSA Murphy USA Inc. | 4.33% | 146,119 | $72.0M | Add +23.2% |
| PBA Pembina Pipeline Corp. | 4.04% | 1,494,250 | $67.2M | Add +0.3% |
| SUN Sunoco LP | 4.02% | 1,027,877 | $66.8M | Add +51.5% |
| EPD Enterprise Products Partners | 3.82% | 1,675,483 | $63.4M | Reduce -1.5% |
| WMB Williams Cos Inc. | 3.34% | 762,867 | $55.5M | Add +0.3% |
| PAGP Plains GP Holdings LP | 3.09% | 2,124,947 | $51.4M | Reduce -12.7% |
| DTM DT Midstream Inc. | 2.88% | 355,156 | $47.8M | Add +0.4% |
| PBF PBF Energy Inc. Class A | 2.87% | 1,002,915 | $47.8M | Reduce -19.8% |
| WES Western Midstream Partners L | 2.81% | 1,134,758 | $46.7M | Reduce -15.2% |
| VNOM Viper Energy Inc. Class A | 2.80% | 989,318 | $46.5M | Add +36.9% |
| MPC Marathon Petroleum Corp. | 2.66% | 180,958 | $44.2M | Reduce -35.8% |
| SOBO South Bow Corp. | 2.33% | 1,161,016 | $38.7M | Reduce -15.3% |
| ENB Enbridge Inc. | 1.52% | 465,619 | $25.2M | Add +0.5% |
| DOW Dow Inc. filed as DOW HLDGS INC | 0.84% | 335,209 | $14.0M | Add +55.3% |
| WLK Westlake Corp. | 0.79% | 112,790 | $13.2M | Add +49.1% |
| B Barrick Mining Corp. | 0.68% | 234,761 | $11.4M | Add +2.2% |
| NEM Newmont Corp. | 0.63% | 97,245 | $10.5M | Add +2.6% |
| LYB Lyondellbasell Indu Class A | 0.61% | 125,488 | $10.1M | Add +110.5% |
| XOM Exxon Mobil Corp. | 0.60% | 58,300 | $9.9M | Add +1.6% |
| CVX Chevron Corp. | 0.54% | 43,163 | $8.9M | Add +0.9% |
| HUN Huntsman Corp. | 0.43% | 535,914 | $7.1M | Add +117.6% |
| EMN Eastman Chemical Co. | 0.40% | 87,136 | $6.7M | Add +118.8% |
| NTR Nutrien Ltd. | 0.33% | 52,360 | $5.5M | Add +4.6% |
| MTDR Matador Resources Co. | 0.29% | 76,996 | $4.9M | Add +14.5% |
| COP Conocophillips | 0.27% | 33,972 | $4.5M | Add +2.1% |
| VALE Vale SA-SP ADR | 0.19% | 196,130 | $3.1M | Add +4.6% |
| FCX Freeport-McMoran Inc. | 0.19% | 52,517 | $3.1M | Reduce -40.1% |
| CNQ Canadian Natural Resources | 0.17% | 59,242 | $2.9M | No change |
| HAL Halliburton Co. | 0.17% | 73,648 | $2.9M | Add +1.7% |
| NUE Nucor Corp. | 0.17% | 16,615 | $2.8M | Add +2.5% |
| TECK Teck Resources Ltd.-CLS B | 0.16% | 40,394 | $2.6M | Add +2.8% |
| RIO Rio Tinto PLC-Spon ADR | 0.15% | 27,247 | $2.5M | Add +4.6% |
| FANG Diamondback Energy Inc. | 0.14% | 11,756 | $2.3M | No change |
| SHEL Shell PLC-ADR | 0.12% | 56,141 | $2.0M | Add +4.7% |
| BHP BHP Group Ltd.-Spon ADR filed as BHP BILLITON LIMITED | 0.12% | 27,271 | $2.0M | Add +4.6% |
| DAR Darling Ingredients Inc. | 0.10% | 27,265 | $1.7M | Reduce -9.6% |
| PKX Posco Holdings Inc. -Spon ADR | 0.09% | 24,960 | $1.5M | No change |
| MOS The Mosaic Co. | 0.08% | 54,447 | $1.4M | Add +4.6% |
| TTE Totalenergies SE | 0.08% | 15,824 | $1.3M | Add +5.6% |
| ALB Albemarle Corp. | 0.07% | 6,283 | $1.1M | Reduce -18.8% |
| EXE Expand Energy Corp. | 0.06% | 9,689 | $1.1M | No change |
| CF CF Industries Holdings Inc. | 0.06% | 8,163 | $1.1M | Add +5.2% |
| SW Smurfit Westrock PLC | 0.06% | 26,095 | $1.0M | Add +113.5% |
| IP International Paper Co. | 0.06% | 28,266 | $1.0M | Add +102.0% |
| AA Alcoa Corp. | 0.06% | 15,130 | $1.0M | Reduce -56.8% |
| CRH CRH PLC | 0.06% | 9,402 | $988K | Add +51.8% |
| SUNC Sunococorp LLC | 0.06% | 15,380 | $948K | Add +42.4% |
| CCK Crown Holdings Inc. | 0.06% | 9,406 | $943K | No change |
| TRP TC Energy Corp. | 0.05% | 14,455 | $905K | Add +15.1% |
| CCJ Cameco Corp. | 0.04% | 6,757 | $734K | No change |
| MT Arcelormittal-NY Registered | 0.04% | 15,403 | $676K | Add +5.0% |
| EOG EOG Resources Inc. | 0.04% | 4,637 | $670K | No change |
| WY Weyerhaeuser Co. | 0.04% | 25,144 | $614K | Add +4.6% |
| MLM Martin Marietta Materials | 0.04% | 1,008 | $593K | No change |
| KNTK Kinetik Holdings Inc. | 0.03% | 11,700 | $566K | No change |
| VLO Valero Energy Corp. | 0.03% | 2,251 | $556K | Reduce -62.7% |
| ADM Archer-Daniels-Midland Co. | 0.03% | 7,396 | $538K | Add +4.2% |
| VST Vistra Corp. | 0.03% | 2,822 | $424K | Reduce -30.0% |
| CEG Constellation Energy | 0.02% | 1,311 | $366K | Reduce -31.7% |
Portfolio Sells Q4 2025 → Q1 2026
| KEY Keycorp | Sold out | 0.00% | −6.25 |
| WES Western Midstream Partners L | Reduce -15.2% | 2.81% | −1.10 |
| MPC Marathon Petroleum Corp. | Reduce -35.8% | 2.66% | −0.73 |
| SOBO South Bow Corp. | Reduce -15.3% | 2.33% | −0.47 |
| PAGP Plains GP Holdings LP | Reduce -12.7% | 3.09% | −0.35 |
| EPD Enterprise Products Partners | Reduce -1.5% | 3.82% | −0.22 |
| FCX Freeport-McMoran Inc. | Reduce -40.1% | 0.19% | −0.14 |
| TRGP Targa Resources Corp. | Reduce -10.7% | 7.12% | −0.09 |
| AA Alcoa Corp. | Reduce -56.8% | 0.06% | −0.08 |
| SEE Sealed Air Corp. | Sold out | 0.00% | −0.04 |
| VLO Valero Energy Corp. | Reduce -62.7% | 0.03% | −0.04 |
| BP BP PLC-Spons ADR | Sold out | 0.00% | −0.04 |
| CEG Constellation Energy | Reduce -31.7% | 0.02% | −0.03 |
| VST Vistra Corp. | Reduce -30.0% | 0.03% | −0.02 |
| AM Antero Midstream Corp. | Sold out | 0.00% | −0.02 |
| ALB Albemarle Corp. | Reduce -18.8% | 0.07% | −0.01 |
| DAR Darling Ingredients Inc. | Reduce -9.6% | 0.10% | +0.02 |
| PSX Phillips 66 | Reduce -8.9% | 4.54% | +0.20 |
| SU Suncor Energy Inc. | Reduce -13.9% | 6.14% | +0.28 |
| PBF PBF Energy Inc. Class A | Reduce -19.8% | 2.87% | +0.37 |
| CVE Cenovus Energy Inc. | Reduce -8.9% | 9.61% | +1.39 |
Portfolio Buys Q4 2025 → Q1 2026
| KMI Kinder Morgan Inc. | Add +63.6% | 4.91% | +1.89 |
| SUN Sunoco LP | Add +51.5% | 4.02% | +1.39 |
| LNG Cheniere Energy Inc. | Add +13.5% | 5.13% | +1.32 |
| MUSA Murphy USA Inc. | Add +23.2% | 4.33% | +0.80 |
| VNOM Viper Energy Inc. Class A | Add +36.9% | 2.80% | +0.73 |
| DOW Dow Inc. | Add +55.3% | 0.84% | +0.47 |
| LYB Lyondellbasell Indu Class A | Add +110.5% | 0.61% | +0.42 |
| WLK Westlake Corp. | Add +49.1% | 0.79% | +0.38 |
| HUN Huntsman Corp. | Add +117.6% | 0.43% | +0.25 |
| EMN Eastman Chemical Co. | Add +118.8% | 0.40% | +0.21 |
| XOM Exxon Mobil Corp. | Add +1.6% | 0.60% | +0.08 |
| MTDR Matador Resources Co. | Add +14.5% | 0.29% | +0.08 |
| CVX Chevron Corp. | Add +0.9% | 0.54% | +0.06 |
| COP Conocophillips | Add +2.1% | 0.27% | +0.04 |
| SW Smurfit Westrock PLC | Add +113.5% | 0.06% | +0.03 |
| OKE Oneok Inc. | Add +0.3% | 6.29% | +0.02 |
| HAL Halliburton Co. | Add +1.7% | 0.17% | +0.02 |
| IP International Paper Co. | Add +102.0% | 0.06% | +0.02 |
| CF CF Industries Holdings Inc. | Add +5.2% | 0.06% | +0.02 |
| SUNC Sunococorp LLC | Add +42.4% | 0.06% | +0.02 |
| NTR Nutrien Ltd. | Add +4.6% | 0.33% | +0.02 |
| TTE Totalenergies SE | Add +5.6% | 0.08% | +0.02 |
| SHEL Shell PLC-ADR | Add +4.7% | 0.12% | +0.01 |
| VALE Vale SA-SP ADR | Add +4.6% | 0.19% | +0.01 |
| TRP TC Energy Corp. | Add +15.1% | 0.05% | +0.00 |
| BHP BHP Group Ltd.-Spon ADR | Add +4.6% | 0.12% | +0.00 |
| CRH CRH PLC | Add +51.8% | 0.06% | +0.00 |
| ADM Archer-Daniels-Midland Co. | Add +4.2% | 0.03% | +0.00 |
| RIO Rio Tinto PLC-Spon ADR | Add +4.6% | 0.15% | −0.00 |
| MT Arcelormittal-NY Registered | Add +5.0% | 0.04% | −0.00 |
| WY Weyerhaeuser Co. | Add +4.6% | 0.04% | −0.01 |
| MOS The Mosaic Co. | Add +4.6% | 0.08% | −0.01 |
| TECK Teck Resources Ltd.-CLS B | Add +2.8% | 0.16% | −0.01 |
| NUE Nucor Corp. | Add +2.5% | 0.17% | −0.03 |
| WMB Williams Cos Inc. | Add +0.3% | 3.34% | −0.04 |
| ET Energy Transfer LP | Add +3.9% | 6.46% | −0.06 |
| NEM Newmont Corp. | Add +2.6% | 0.63% | −0.07 |
| ENB Enbridge Inc. | Add +0.5% | 1.52% | −0.12 |
| PBA Pembina Pipeline Corp. | Add +0.3% | 4.04% | −0.17 |
| B Barrick Mining Corp. | Add +2.2% | 0.68% | −0.18 |
| DTM DT Midstream Inc. | Add +0.4% | 2.88% | −0.25 |
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 |