SL Advisors, LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed April 15, 2026), SL Advisors, LLC reported 31 stock positions worth $50.8 million. Its top holding was Energy Transfer (ET) at 14.6% of the portfolio, followed by Nextdecade (NEXT, 12.4%) and Williams Cos (WMB, 8.7%). Compared with Q2 2025, it opened 1 new position, sold out of 1, added to 9 and reduced 20. The biggest buy was Energy Transfer (ET, shares +14%) and the biggest sale Nextdecade (NEXT, shares −3%).
- Most Recent 13F
- Q2 2026
- Location
- NAPLES, FL
- CIK
- 0001680365
- Portfolio Value
- $50.8M (Q3 2025)
- SEC Filing
- 0001680365-26-000016 ↗ filed Apr 15, 2026
Holdings Value
Holdings 31 stocks · $50.8M
| ET Energy Transfer LP | 14.57% | 431,577 | $7.4M | Add +13.9% |
| NEXT Nextdecade Corp. | 12.39% | 927,384 | $6.3M | Reduce -3.4% |
| WMB Williams Cos Inc. | 8.68% | 69,634 | $4.4M | Add +1.0% |
| LNG Cheniere Energy Inc. | 8.52% | 18,435 | $4.3M | Add +1.2% |
| USAI Pacer Ame Energy Infr ETF-US | 6.54% | 83,465 | $3.3M | Reduce -10.7% |
| TRGP Targa Resources Corp. | 6.08% | 18,452 | $3.1M | Add +0.4% |
| OKE Oneok Inc. | 5.95% | 41,462 | $3.0M | Reduce -11.3% |
| EPD Enterprise Products Partners | 4.55% | 73,971 | $2.3M | Add +1.2% |
| BRK.B Berkshire Hathaway Inc. Class B | 3.10% | 3,129 | $1.6M | Reduce -0.2% |
| ENB Enbridge Inc. | 2.91% | 29,341 | $1.5M | Reduce -20.8% |
| SPY SS SPDR S&P 500 ETF Trust-US | 2.81% | 2,147 | $1.4M | No change |
| TRP TC Energy Corp. | 2.75% | 25,651 | $1.4M | Reduce -14.1% |
| KMI Kinder Morgan Inc. | 2.04% | 36,648 | $1.0M | Reduce -22.8% |
| WES Western Midstream Partners L | 1.90% | 24,554 | $965K | Add +1.6% |
| KNTK Kinetik Holdings Inc. | 1.88% | 22,306 | $953K | Add +1.7% |
| RSG Republic Services Inc. | 1.78% | 3,935 | $903K | Reduce -5.8% |
| MPLX MPLX LP | 1.74% | 17,680 | $883K | Add +1.8% |
| PBA Pembina Pipeline Corp. | 1.67% | 20,987 | $849K | Reduce -18.7% |
| RTX RTX Corp. | 1.54% | 4,676 | $782K | Reduce -0.6% |
| ADP Automatic Data Processing | 1.26% | 2,173 | $638K | Reduce -0.5% |
| WM Waste Management Inc. | 1.23% | 2,825 | $624K | Reduce -6.3% |
| LMT Lockheed Martin Corp. | 0.96% | 976 | $487K | Reduce -17.9% |
| MCD McDonald's Corp. | 0.94% | 1,576 | $479K | Reduce -0.4% |
| XLP SS Consumer Staples Sel Sect | 0.75% | 4,855 | $381K | Add +0.0% |
| ECL Ecolab Inc. | 0.69% | 1,280 | $351K | Reduce -0.6% |
| PAGP Plains GP Holdings LP | 0.58% | 16,291 | $297K | Reduce -23.4% |
| PG The Procter & Gamble Co. | 0.46% | 1,530 | $235K | Reduce -24.5% |
| HSY The Hershey Co. | 0.45% | 1,223 | $229K | Reduce -0.8% |
| MKC McCormick & Co.-Non VTG SHRS | 0.44% | 3,323 | $222K | Reduce -0.5% |
| KO The Coca-Cola Co. | 0.43% | 3,277 | $217K | Reduce -15.4% |
| JNJ Johnson & Johnson | 0.40% | 1,093 | $203K | New |
Portfolio Sells Q2 2025 → Q3 2025
| NEXT Nextdecade Corp. | Reduce -3.4% | 12.39% | −3.02 |
| NFE New Fortress Energy Inc. | Sold out | 0.00% | −1.43 |
| OKE Oneok Inc. | Reduce -11.3% | 5.95% | −0.92 |
| KMI Kinder Morgan Inc. | Reduce -22.8% | 2.04% | −0.47 |
| USAI Pacer Ame Energy Infr ETF-US | Reduce -10.7% | 6.54% | −0.31 |
| PAGP Plains GP Holdings LP | Reduce -23.4% | 0.58% | −0.16 |
| PG The Procter & Gamble Co. | Reduce -24.5% | 0.46% | −0.12 |
| ENB Enbridge Inc. | Reduce -20.8% | 2.91% | −0.11 |
| RSG Republic Services Inc. | Reduce -5.8% | 1.78% | −0.08 |
| PBA Pembina Pipeline Corp. | Reduce -18.7% | 1.67% | −0.07 |
| KO The Coca-Cola Co. | Reduce -15.4% | 0.43% | −0.07 |
| LMT Lockheed Martin Corp. | Reduce -17.9% | 0.96% | −0.03 |
| MKC McCormick & Co.-Non VTG SHRS | Reduce -0.5% | 0.44% | −0.02 |
| WM Waste Management Inc. | Reduce -6.3% | 1.23% | −0.02 |
| ADP Automatic Data Processing | Reduce -0.5% | 1.26% | +0.04 |
| ECL Ecolab Inc. | Reduce -0.6% | 0.69% | +0.06 |
| HSY The Hershey Co. | Reduce -0.8% | 0.45% | +0.08 |
| MCD McDonald's Corp. | Reduce -0.4% | 0.94% | +0.11 |
| TRP TC Energy Corp. | Reduce -14.1% | 2.75% | +0.12 |
| RTX RTX Corp. | Reduce -0.6% | 1.54% | +0.30 |
| BRK.B Berkshire Hathaway Inc. Class B | Reduce -0.2% | 3.10% | +0.35 |
Portfolio Buys Q2 2025 → Q3 2025
| ET Energy Transfer LP | Add +13.9% | 14.57% | +2.20 |
| WMB Williams Cos Inc. | Add +1.0% | 8.68% | +0.88 |
| LNG Cheniere Energy Inc. | Add +1.2% | 8.52% | +0.54 |
| EPD Enterprise Products Partners | Add +1.2% | 4.55% | +0.47 |
| JNJ Johnson & Johnson | New | 0.40% | +0.40 |
| TRGP Targa Resources Corp. | Add +0.4% | 6.08% | +0.32 |
| WES Western Midstream Partners L | Add +1.6% | 1.90% | +0.21 |
| KNTK Kinetik Holdings Inc. | Add +1.7% | 1.88% | +0.14 |
| MPLX MPLX LP | Add +1.8% | 1.74% | +0.13 |
| XLP SS Consumer Staples Sel Sect | Add +0.0% | 0.75% | +0.04 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 32 | $57.2M | ET, NEXT, WMB, TRGP, USAI |
| Q1 2026 | 32 | $59.1M | ET, NEXT, LNG, WMB, USAI |
| Q4 2025Amended | 32 | $48.8M | ET, NEXT, WMB, USAI, LNG |
| Q3 2025Amended | 31 | $50.8M | ET, NEXT, WMB, LNG, USAI |
| Q2 2025Amended | 31 | $55.5M | NEXT, ET, LNG, WMB, OKE |
| Q1 2025Amended | 31 | $57.2M | ET, NEXT, OKE, LNG, WMB |
| Q4 2024Amended | 35 | $60.5M | ET, NEXT, SPY, TRGP, LNG |
| Q3 2024Amended | 47 | $55.6M | ET, SPY, NEXT, TRGP, OKE |
| Q2 2024Amended | 32 | $50.6M | NEXT, ET, SPY, USAI, LNG |
| Q1 2024Amended | 39 | $50.8M | ET, SPY, NEXT, OKE, USAI |