Filed: 8/14/2025ACC: 0001420506-25-002061
📋 What this filing means
RECURRENT INVESTMENT ADVISORS LLC filed this quarterly 13F‑HR report disclosing 64 equity positions with a total reported market value of $1.24B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
64
Positions
$1.24B
Total AUM (reported)
33.87M
Total Shares
Allocation by class
COM$776.09M62.8%
COM UT LTD PTN$86.89M7.0%
COM NEW$76.98M6.2%
CL A$64.93M5.3%
LTD PARTNR INT A$52.58M4.3%
COM UNIT LP INT$52.57M4.3%
COM UT REP LP$50.03M4.0%
Portfolio Concentration
Top 3$252.46M20.4%
4–10$451.58M36.5%
11–25$471.02M38.1%
Rest$60.88M4.9%
Top 3 weight
20.4%
Top 10 weight
57.0%
Voting Authority Distribution
Total shares with voting rights: 33.87M
Sole
Full voting authority
33.87M
shares
% of voting shares100.0%
Shared
Joint voting authority
0.00
shares
% of voting shares0.0%
None
No voting authority
0.00
shares
% of voting shares0.0%
Investment Discretion (by position count)
Sole64
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings64
Rows:
CENOVUS ENERGY INC
SOLEShares6.30M
TypeSH
Market value$88.12M
7.13%
Sole
6.30M
Shared
0.00
None
0.00
ENERGY TRANSFER L P
SOLEShares4.79M
TypeSH
Market value$86.89M
7.03%
Sole
4.79M
Shared
0.00
None
0.00
ONEOK INC NEW
SOLEShares948.76K
TypeSH
Market value$77.45M
6.27%
Sole
948.76K
Shared
0.00
None
0.00
TARGA RES CORP
SOLEShares435.89K
TypeSH
Market value$75.88M
6.14%
Sole
435.89K
Shared
0.00
None
0.00
CHENIERE ENERGY INC
SOLEShares311.28K
TypeSH
Market value$75.80M
6.13%
Sole
311.28K
Shared
0.00
None
0.00
PEMBINA PIPELINE CORP
SOLEShares1.85M
TypeSH
Market value$69.66M
5.64%
Sole
1.85M
Shared
0.00
None
0.00
SUNCOR ENERGY INC NEW
SOLEShares1.79M
TypeSH
Market value$67.98M
5.50%
Sole
1.79M
Shared
0.00
None
0.00
PHILLIPS 66
SOLEShares466.98K
TypeSH
Market value$55.71M
4.51%
Sole
466.98K
Shared
0.00
None
0.00
ENTERPRISE PRODS PARTNERS L
SOLEShares1.74M
TypeSH
Market value$53.96M
4.37%
Sole
1.74M
Shared
0.00
None
0.00
PLAINS GP HLDGS L P
SOLEShares2.70M
TypeSH
Market value$52.58M
4.25%
Sole
2.70M
Shared
0.00
None
0.00
WESTERN MIDSTREAM PARTNERS L
SOLEShares1.36M
TypeSH
Market value$52.57M
4.25%
Sole
1.36M
Shared
0.00
None
0.00
PBF ENERGY INC
SOLEShares2.39M
TypeSH
Market value$51.74M
4.19%
Sole
2.39M
Shared
0.00
None
0.00
SUNOCO LP/SUNOCO FIN CORP
SOLEShares933.59K
TypeSH
Market value$50.03M
4.05%
Sole
933.59K
Shared
0.00
None
0.00
WILLIAMS COS INC
SOLEShares761.88K
TypeSH
Market value$47.85M
3.87%
Sole
761.88K
Shared
0.00
None
0.00
MARATHON PETE CORP
SOLEShares280.55K
TypeSH
Market value$46.60M
3.77%
Sole
280.55K
Shared
0.00
None
0.00
KINDER MORGAN INC DEL
SOLEShares1.48M
TypeSH
Market value$43.65M
3.53%
Sole
1.48M
Shared
0.00
None
0.00
SOUTH BOW CORP
SOLEShares1.60M
TypeSH
Market value$41.71M
3.37%
Sole
1.60M
Shared
0.00
None
0.00
DT MIDSTREAM INC
SOLEShares350.93K
TypeSH
Market value$38.57M
3.12%
Sole
350.93K
Shared
0.00
None
0.00
VALERO ENERGY CORP
SOLEShares179.65K
TypeSH
Market value$24.15M
1.95%
Sole
179.65K
Shared
0.00
None
0.00
ENBRIDGE INC
SOLEShares464.10K
TypeSH
Market value$21.03M
1.70%
Sole
464.10K
Shared
0.00
None
0.00
ALLIANCE RESOURCE PARTNERS L
SOLEShares656.86K
TypeSH
Market value$17.17M
1.39%
Sole
656.86K
Shared
0.00
None
0.00
VIPER ENERGY INC
SOLEShares345.75K
TypeSH
Market value$13.18M
1.07%
Sole
345.75K
Shared
0.00
None
0.00
TC ENERGY CORP
SOLEShares224.85K
TypeSH
Market value$10.97M
0.89%
Sole
224.85K
Shared
0.00
None
0.00
EXXON MOBIL CORP
SOLEShares57.77K
TypeSH
Market value$6.23M
0.50%
Sole
57.77K
Shared
0.00
None
0.00
NEWMONT CORP
SOLEShares95.51K
TypeSH
Market value$5.56M
0.45%
Sole
95.51K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
CENOVUS ENERGY INCSOLE | COM | 6.30M | SH | $88.12M 7.13% | 6.30M | 0.00 | 0.00 |
ENERGY TRANSFER L PSOLE | COM UT LTD PTN | 4.79M | SH | $86.89M 7.03% | 4.79M | 0.00 | 0.00 |
ONEOK INC NEWSOLE | COM | 948.76K | SH | $77.45M 6.27% | 948.76K | 0.00 | 0.00 |
TARGA RES CORPSOLE | COM | 435.89K | SH | $75.88M 6.14% | 435.89K | 0.00 | 0.00 |
CHENIERE ENERGY INCSOLE | COM NEW | 311.28K | SH | $75.80M 6.13% | 311.28K | 0.00 | 0.00 |
PEMBINA PIPELINE CORPSOLE | COM | 1.85M | SH | $69.66M 5.64% | 1.85M | 0.00 | 0.00 |
SUNCOR ENERGY INC NEWSOLE | COM | 1.79M | SH | $67.98M 5.50% | 1.79M | 0.00 | 0.00 |
PHILLIPS 66SOLE | COM | 466.98K | SH | $55.71M 4.51% | 466.98K | 0.00 | 0.00 |
ENTERPRISE PRODS PARTNERS LSOLE | COM | 1.74M | SH | $53.96M 4.37% | 1.74M | 0.00 | 0.00 |
PLAINS GP HLDGS L PSOLE | LTD PARTNR INT A | 2.70M | SH | $52.58M 4.25% | 2.70M | 0.00 | 0.00 |
WESTERN MIDSTREAM PARTNERS LSOLE | COM UNIT LP INT | 1.36M | SH | $52.57M 4.25% | 1.36M | 0.00 | 0.00 |
PBF ENERGY INCSOLE | CL A | 2.39M | SH | $51.74M 4.19% | 2.39M | 0.00 | 0.00 |
SUNOCO LP/SUNOCO FIN CORPSOLE | COM UT REP LP | 933.59K | SH | $50.03M 4.05% | 933.59K | 0.00 | 0.00 |
WILLIAMS COS INCSOLE | COM | 761.88K | SH | $47.85M 3.87% | 761.88K | 0.00 | 0.00 |
MARATHON PETE CORPSOLE | COM | 280.55K | SH | $46.60M 3.77% | 280.55K | 0.00 | 0.00 |
KINDER MORGAN INC DELSOLE | COM | 1.48M | SH | $43.65M 3.53% | 1.48M | 0.00 | 0.00 |
SOUTH BOW CORPSOLE | COM | 1.60M | SH | $41.71M 3.37% | 1.60M | 0.00 | 0.00 |
DT MIDSTREAM INCSOLE | COMMON STOCK | 350.93K | SH | $38.57M 3.12% | 350.93K | 0.00 | 0.00 |
VALERO ENERGY CORPSOLE | COM | 179.65K | SH | $24.15M 1.95% | 179.65K | 0.00 | 0.00 |
ENBRIDGE INCSOLE | COM | 464.10K | SH | $21.03M 1.70% | 464.10K | 0.00 | 0.00 |
ALLIANCE RESOURCE PARTNERS LSOLE | UT LTD PART | 656.86K | SH | $17.17M 1.39% | 656.86K | 0.00 | 0.00 |
VIPER ENERGY INCSOLE | CL A | 345.75K | SH | $13.18M 1.07% | 345.75K | 0.00 | 0.00 |
TC ENERGY CORPSOLE | COM | 224.85K | SH | $10.97M 0.89% | 224.85K | 0.00 | 0.00 |
EXXON MOBIL CORPSOLE | COM | 57.77K | SH | $6.23M 0.50% | 57.77K | 0.00 | 0.00 |
NEWMONT CORPSOLE | COM | 95.51K | SH | $5.56M 0.45% | 95.51K | 0.00 | 0.00 |
Page 1 of 3