Q4 2025 · 13F-HR
Recurrent Investment Advisors LLCholdings as filed
Filed 2026-02-13 · accession 0001420506-26-000354
$1.35B
Reported value
71
Positions
2025-12-31
Period end
The Brief · Recurrent Investment Advisors LLC · Q4 2025
AI · grounded in 13F
Recurrent Investment Advisors LLC established a new position in KEY valued at $84.5M. The fund also increased its holdings in DOW by 663.9% and WLK by 317.7%. Offsetting these buys, the fund closed its position in ARLP, reducing its exposure by $16.3M.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 15135U109 | CVE | CENOVUS ENERGY INC | $111.1M | 8.21% | 6,363,516 | Common | SOLE |
| 87612G101 | TRGP | TARGA RES CORP | $97.5M | 7.21% | 528,546 | Common | SOLE |
| 29273V100 | ET | ENERGY TRANSFER L P | $88.2M | 6.52% | 5,351,355 | Common | SOLE |
| 682680103 | OKE | ONEOK INC NEW | $84.7M | 6.27% | 1,152,806 | Common | SOLE |
| 493267108 | KEY | KEYCORP | $84.5M | 6.25% | 1,920,957 | Common | SOLE |
| 867224107 | SU | SUNCOR ENERGY INC NEW | $79.2M | 5.85% | 1,760,388 | Common | SOLE |
| 718546104 | PSX | PHILLIPS 66 | $58.7M | 4.34% | 454,741 | Common | SOLE |
| 706327103 | PBA | PEMBINA PIPELINE CORP | $57.0M | 4.21% | 1,490,143 | Common | SOLE |
| 293792107 | EPD | ENTERPRISE PRODS PARTNERS L | $54.5M | 4.03% | 1,700,650 | Common | SOLE |
| 958669103 | WES | WESTERN MIDSTREAM PARTNERS L | $52.9M | 3.91% | 1,338,654 | Common | SOLE |
| 16411R208 | LNG | CHENIERE ENERGY INC | $51.4M | 3.80% | 264,474 | Common | SOLE |
| 626755102 | MUSA | MURPHY USA INC | $47.7M | 3.53% | 118,606 | Common | SOLE |
| 72651A207 | PAGP | PLAINS GP HLDGS L P | $46.6M | 3.44% | 2,432,797 | Common | SOLE |
| 56585A102 | MPC | MARATHON PETE CORP | $45.8M | 3.39% | 281,631 | Common | SOLE |
| 969457100 | WMB | WILLIAMS COS INC | $45.7M | 3.38% | 760,627 | Common | SOLE |
| 23345M107 | DTM | DT MIDSTREAM INC | $42.3M | 3.13% | 353,786 | Common | SOLE |
| 49456B101 | KMI | KINDER MORGAN INC DEL | $40.8M | 3.02% | 1,485,473 | Common | SOLE |
| 83671M105 | SOBO | SOUTH BOW CORP | $37.8M | 2.79% | 1,370,635 | Common | SOLE |
| 86765K109 | SUN | SUNOCO LP/SUNOCO FIN CORP | $35.6M | 2.63% | 678,623 | Common | SOLE |
| 69318G106 | PBF | PBF ENERGY INC | $33.9M | 2.51% | 1,250,915 | Common | SOLE |
| 64361Q101 | VNOM | VIPER ENERGY INC | $27.9M | 2.06% | 722,615 | Common | SOLE |
| 29250N105 | ENB | ENBRIDGE INC | $22.2M | 1.64% | 463,219 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $11.7M | 0.87% | 229,715 | Common | SOLE |
| 651639106 | NEM | NEWMONT CORP | $9.5M | 0.70% | 94,745 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $6.9M | 0.51% | 57,400 | Common | SOLE |
| 166764100 | CVX | CHEVRON CORP NEW | $6.5M | 0.48% | 42,763 | Common | SOLE |
| 960413102 | WLK | WESTLAKE CORPORATION | $5.6M | 0.41% | 75,633 | Common | SOLE |
| 260557103 | DOW | DOW INC | $5.0M | 0.37% | 215,916 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $4.5M | 0.33% | 87,720 | Common | SOLE |
| 67077M108 | NTR | NUTRIEN LTD | $4.2M | 0.31% | 50,060 | Common | SOLE |
| 20825C104 | COP | CONOCOPHILLIPS | $3.1M | 0.23% | 33,272 | Common | SOLE |
| 576485205 | MTDR | MATADOR RES CO | $2.9M | 0.21% | 67,246 | Common | SOLE |
| 670346105 | NUE | NUCOR CORP | $2.6M | 0.20% | 16,215 | Common | SOLE |
| N53745100 | LYB | LYONDELLBASELL INDUSTRIES N | $2.6M | 0.19% | 59,619 | Common | SOLE |
| 277432100 | EMN | EASTMAN CHEM CO | $2.5M | 0.19% | 39,831 | Common | SOLE |
| 447011107 | HUN | HUNTSMAN CORP | $2.5M | 0.18% | 246,276 | Common | SOLE |
| 91912E105 | VALE | VALE S A | $2.4M | 0.18% | 187,430 | Common | SOLE |
| 878742204 | TECK | TECK RESOURCES LTD | $2.3M | 0.17% | 39,294 | Common | SOLE |
| 767204100 | RIO | RIO TINTO PLC | $2.1M | 0.15% | 26,047 | Common | SOLE |
| 406216101 | HAL | HALLIBURTON CO | $2.0M | 0.15% | 72,448 | Common | SOLE |
| 136385101 | CNQ | CANADIAN NAT RES LTD | $2.0M | 0.15% | 59,242 | Common | SOLE |
| 013872106 | AA | ALCOA CORP | $1.9M | 0.14% | 35,032 | Common | SOLE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $1.8M | 0.13% | 11,756 | Common | SOLE |
| 088606108 | BHP | BHP GROUP LTD | $1.6M | 0.12% | 26,071 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $1.5M | 0.11% | 53,641 | Common | SOLE |
| 693483109 | PKX | POSCO HOLDINGS INC | $1.3M | 0.10% | 24,960 | Common | SOLE |
| 61945C103 | MOS | MOSAIC CO NEW | $1.3M | 0.09% | 52,047 | Common | SOLE |
| 012653101 | ALB | ALBEMARLE CORP | $1.1M | 0.08% | 7,738 | Common | SOLE |
| 237266101 | DAR | DARLING INGREDIENTS INC | $1.1M | 0.08% | 30,165 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $1.1M | 0.08% | 9,689 | Common | SOLE |
| 91913Y100 | VLO | VALERO ENERGY CORP | $982,438 | 0.07% | 6,035 | Common | SOLE |
| 228368106 | CCK | CROWN HLDGS INC | $968,536 | 0.07% | 9,406 | Common | SOLE |
| F92124100 | TTE | TOTALENERGIES SE | $833,183 | 0.06% | 14,988 | Common | SOLE |
| G25508105 | CRH | CRH PLC | $772,762 | 0.06% | 6,192 | Common | SOLE |
| 87807B107 | TRP | TC ENERGY CORP | $690,651 | 0.05% | 12,555 | Common | SOLE |
| 21037T109 | CEG | CONSTELLATION ENERGY CORP | $677,925 | 0.05% | 1,919 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $650,483 | 0.05% | 4,032 | Common | SOLE |
| 573284106 | MLM | MARTIN MARIETTA MATLS INC | $627,641 | 0.05% | 1,008 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP | $618,198 | 0.05% | 6,757 | Common | SOLE |
| 125269100 | CF | CF INDS HLDGS INC | $600,390 | 0.04% | 7,763 | Common | SOLE |
| 03938L203 | MT | ARCELORMITTAL SA LUXEMBOURG | $574,085 | 0.04% | 14,669 | Common | SOLE |
| 962166104 | WY | WEYERHAEUSER CO MTN BE | $569,602 | 0.04% | 24,044 | Common | SOLE |
| 81211K100 | SDA | SEALED AIR CORP NEW | $553,091 | 0.04% | 13,350 | Common | SOLE |
| 460146103 | IP | INTERNATIONAL PAPER CO | $551,066 | 0.04% | 13,990 | Common | SOLE |
| 86765Q106 | SUNC | SUNOCOCORP LLC | $532,224 | 0.04% | 10,800 | Common | SOLE |
| 055622104 | BP | BP PLC | $514,207 | 0.04% | 118,388 | Common | SOLE |
| 26875P101 | EOG | EOG RES INC | $486,931 | 0.04% | 4,637 | Common | SOLE |
| G8267P108 | SW | SMURFIT WESTROCK PLC | $472,586 | 0.03% | 12,221 | Common | SOLE |
| 02215L209 | KNTK | KINETIK HOLDINGS INC | $421,785 | 0.03% | 11,700 | Common | SOLE |
| 039483102 | ADM | ARCHER DANIELS MIDLAND CO | $407,949 | 0.03% | 7,096 | Common | SOLE |
| 03676B102 | AM | ANTERO MIDSTREAM CORP | $266,850 | 0.02% | 15,000 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.