Filed: 11/13/2025ACC: 0001420506-25-003193
📋 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 $1.30B. This filing provides a transparent view of the manager's long equity holdings as of the quarter end.
64
Positions
$1.30B
Total AUM (reported)
33.40M
Total Shares
Allocation by class
COM$861.94M66.1%
COM UT LTD PTN$85.58M6.6%
CL A$66.69M5.1%
COM NEW$64.13M4.9%
COM UNIT LP INT$53.34M4.1%
COM UT REP LP$46.72M3.6%
LTD PARTNR INT A$44.38M3.4%
Portfolio Concentration
Top 3$282.92M21.7%
4–10$460.94M35.3%
11–25$494.69M37.9%
Rest$65.66M5.0%
Top 3 weight
21.7%
Top 10 weight
57.0%
Voting Authority Distribution
Total shares with voting rights: 33.40M
Sole
Full voting authority
33.40M
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
SOLEShares6.42M
TypeSH
Market value$112.40M
8.62%
Sole
6.42M
Shared
0.00
None
0.00
ENERGY TRANSFER L P
SOLEShares4.99M
TypeSH
Market value$85.58M
6.56%
Sole
4.99M
Shared
0.00
None
0.00
TARGA RES CORP
SOLEShares507.01K
TypeSH
Market value$84.95M
6.51%
Sole
507.01K
Shared
0.00
None
0.00
ONEOK INC NEW
SOLEShares1.12M
TypeSH
Market value$81.39M
6.24%
Sole
1.12M
Shared
0.00
None
0.00
SUNCOR ENERGY INC NEW
SOLEShares1.79M
TypeSH
Market value$75.82M
5.81%
Sole
1.79M
Shared
0.00
None
0.00
PEMBINA PIPELINE CORP
SOLEShares1.70M
TypeSH
Market value$69.01M
5.29%
Sole
1.70M
Shared
0.00
None
0.00
PHILLIPS 66
SOLEShares464.47K
TypeSH
Market value$63.18M
4.84%
Sole
464.47K
Shared
0.00
None
0.00
CHENIERE ENERGY INC
SOLEShares268.46K
TypeSH
Market value$63.08M
4.84%
Sole
268.46K
Shared
0.00
None
0.00
ENTERPRISE PRODS PARTNERS L
SOLEShares1.74M
TypeSH
Market value$54.33M
4.17%
Sole
1.74M
Shared
0.00
None
0.00
MARATHON PETE CORP
SOLEShares280.86K
TypeSH
Market value$54.13M
4.15%
Sole
280.86K
Shared
0.00
None
0.00
PBF ENERGY INC
SOLEShares1.77M
TypeSH
Market value$53.46M
4.10%
Sole
1.77M
Shared
0.00
None
0.00
WESTERN MIDSTREAM PARTNERS L
SOLEShares1.36M
TypeSH
Market value$53.34M
4.09%
Sole
1.36M
Shared
0.00
None
0.00
WILLIAMS COS INC
SOLEShares759.92K
TypeSH
Market value$48.14M
3.69%
Sole
759.92K
Shared
0.00
None
0.00
SUNOCO LP/SUNOCO FIN CORP
SOLEShares934.14K
TypeSH
Market value$46.72M
3.58%
Sole
934.14K
Shared
0.00
None
0.00
SOUTH BOW CORP
SOLEShares1.61M
TypeSH
Market value$45.58M
3.49%
Sole
1.61M
Shared
0.00
None
0.00
PLAINS GP HLDGS L P
SOLEShares2.43M
TypeSH
Market value$44.38M
3.40%
Sole
2.43M
Shared
0.00
None
0.00
KINDER MORGAN INC DEL
SOLEShares1.47M
TypeSH
Market value$41.73M
3.20%
Sole
1.47M
Shared
0.00
None
0.00
DT MIDSTREAM INC
SOLEShares352.02K
TypeSH
Market value$39.80M
3.05%
Sole
352.02K
Shared
0.00
None
0.00
MURPHY USA INC
SOLEShares100.94K
TypeSH
Market value$39.19M
3.00%
Sole
100.94K
Shared
0.00
None
0.00
ENBRIDGE INC
SOLEShares464.54K
TypeSH
Market value$23.44M
1.80%
Sole
464.54K
Shared
0.00
None
0.00
ALLIANCE RESOURCE PARTNERS L
SOLEShares647.28K
TypeSH
Market value$16.37M
1.25%
Sole
647.28K
Shared
0.00
None
0.00
VIPER ENERGY INC
SOLEShares346.02K
TypeSH
Market value$13.22M
1.01%
Sole
346.02K
Shared
0.00
None
0.00
TC ENERGY CORP
SOLEShares227.11K
TypeSH
Market value$12.36M
0.95%
Sole
227.11K
Shared
0.00
None
0.00
BARRICK MNG CORP
SOLEShares229.76K
TypeSH
Market value$8.91M
0.68%
Sole
229.76K
Shared
0.00
None
0.00
NEWMONT CORP
SOLEShares95.51K
TypeSH
Market value$8.05M
0.62%
Sole
95.51K
Shared
0.00
None
0.00
| Issuer | Class | Shares | Type | Value / Portfolio % | Voting — Sole | Shared | None |
|---|---|---|---|---|---|---|---|
CENOVUS ENERGY INCSOLE | COM | 6.42M | SH | $112.40M 8.62% | 6.42M | 0.00 | 0.00 |
ENERGY TRANSFER L PSOLE | COM UT LTD PTN | 4.99M | SH | $85.58M 6.56% | 4.99M | 0.00 | 0.00 |
TARGA RES CORPSOLE | COM | 507.01K | SH | $84.95M 6.51% | 507.01K | 0.00 | 0.00 |
ONEOK INC NEWSOLE | COM | 1.12M | SH | $81.39M 6.24% | 1.12M | 0.00 | 0.00 |
SUNCOR ENERGY INC NEWSOLE | COM | 1.79M | SH | $75.82M 5.81% | 1.79M | 0.00 | 0.00 |
PEMBINA PIPELINE CORPSOLE | COM | 1.70M | SH | $69.01M 5.29% | 1.70M | 0.00 | 0.00 |
PHILLIPS 66SOLE | COM | 464.47K | SH | $63.18M 4.84% | 464.47K | 0.00 | 0.00 |
CHENIERE ENERGY INCSOLE | COM NEW | 268.46K | SH | $63.08M 4.84% | 268.46K | 0.00 | 0.00 |
ENTERPRISE PRODS PARTNERS LSOLE | COM | 1.74M | SH | $54.33M 4.17% | 1.74M | 0.00 | 0.00 |
MARATHON PETE CORPSOLE | COM | 280.86K | SH | $54.13M 4.15% | 280.86K | 0.00 | 0.00 |
PBF ENERGY INCSOLE | CL A | 1.77M | SH | $53.46M 4.10% | 1.77M | 0.00 | 0.00 |
WESTERN MIDSTREAM PARTNERS LSOLE | COM UNIT LP INT | 1.36M | SH | $53.34M 4.09% | 1.36M | 0.00 | 0.00 |
WILLIAMS COS INCSOLE | COM | 759.92K | SH | $48.14M 3.69% | 759.92K | 0.00 | 0.00 |
SUNOCO LP/SUNOCO FIN CORPSOLE | COM UT REP LP | 934.14K | SH | $46.72M 3.58% | 934.14K | 0.00 | 0.00 |
SOUTH BOW CORPSOLE | COM | 1.61M | SH | $45.58M 3.49% | 1.61M | 0.00 | 0.00 |
PLAINS GP HLDGS L PSOLE | LTD PARTNR INT A | 2.43M | SH | $44.38M 3.40% | 2.43M | 0.00 | 0.00 |
KINDER MORGAN INC DELSOLE | COM | 1.47M | SH | $41.73M 3.20% | 1.47M | 0.00 | 0.00 |
DT MIDSTREAM INCSOLE | COMMON STOCK | 352.02K | SH | $39.80M 3.05% | 352.02K | 0.00 | 0.00 |
MURPHY USA INCSOLE | COM | 100.94K | SH | $39.19M 3.00% | 100.94K | 0.00 | 0.00 |
ENBRIDGE INCSOLE | COM | 464.54K | SH | $23.44M 1.80% | 464.54K | 0.00 | 0.00 |
ALLIANCE RESOURCE PARTNERS LSOLE | UT LTD PART | 647.28K | SH | $16.37M 1.25% | 647.28K | 0.00 | 0.00 |
VIPER ENERGY INCSOLE | CL A | 346.02K | SH | $13.22M 1.01% | 346.02K | 0.00 | 0.00 |
TC ENERGY CORPSOLE | COM | 227.11K | SH | $12.36M 0.95% | 227.11K | 0.00 | 0.00 |
BARRICK MNG CORPSOLE | COM SHS | 229.76K | SH | $8.91M 0.68% | 229.76K | 0.00 | 0.00 |
NEWMONT CORPSOLE | COM | 95.51K | SH | $8.05M 0.62% | 95.51K | 0.00 | 0.00 |
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