RECURRENT INVESTMENT ADVISORS LLC

PrivateCIK: 1803146
Location

HOUSTON, TX

71
Positions
$1.61B
Total AUM (reported)
34.84M
Total Shares

Allocation by class

TOTAL AUM$1.61B71 positions
COM$1.05B65.4%
COM UT LTD PTN$113.48M7.0%
COM UT REP LP$77.59M4.8%
COM NEW$72.63M4.5%
CL A$53.05M3.3%
COMMON STOCK$52.12M3.2%
COM UNIT LP INT$49.59M3.1%

Portfolio Concentration

Top 322.5%4–1034.5%11–2535.4%Rest7.6%TOP 1057.0%0%100%
Top 3$362.28M22.5%
4–10$555.79M34.5%
11–25$570.15M35.4%
Rest$122.74M7.6%

Top 3 weight

22.5%

Top 10 weight

57.0%

Voting Authority Distribution

Total shares with voting rights: 34.84M

Sole

Full voting authority

34.84M

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)

Sole71
Shared0
Other0
Dominant voting typeSole · 100.0% of voting shares
Institutional Holdings71
Rows:

TARGA RES CORP

SOLE
COM
Shares470.64K
TypeSH
Market value$126.20M
7.83%
Sole
470.64K
Shared
0.00
None
0.00

CENOVUS ENERGY INC

SOLE
COM
Shares4.74M
TypeSH
Market value$122.60M
7.61%
Sole
4.74M
Shared
0.00
None
0.00

ENERGY TRANSFER L P

SOLE
COM UT LTD PTN
Shares5.94M
TypeSH
Market value$113.48M
7.04%
Sole
5.94M
Shared
0.00
None
0.00

ONEOK INC NEW

SOLE
COM
Shares1.16M
TypeSH
Market value$100.85M
6.26%
Sole
1.16M
Shared
0.00
None
0.00

KINDER MORGAN INC DEL

SOLE
COM
Shares2.58M
TypeSH
Market value$82.44M
5.12%
Sole
2.58M
Shared
0.00
None
0.00

MURPHY USA INC

SOLE
COM
Shares146.26K
TypeSH
Market value$78.59M
4.88%
Sole
146.26K
Shared
0.00
None
0.00

SUNOCO LP/SUNOCO FIN CORP

SOLE
COM UT REP LP
Shares1.15M
TypeSH
Market value$77.59M
4.82%
Sole
1.15M
Shared
0.00
None
0.00

ENTERPRISE PRODS PARTNERS L

SOLE
COM
Shares2.03M
TypeSH
Market value$74.67M
4.64%
Sole
2.03M
Shared
0.00
None
0.00

CHENIERE ENERGY INC

SOLE
COM NEW
Shares301.35K
TypeSH
Market value$72.03M
4.47%
Sole
301.35K
Shared
0.00
None
0.00

PEMBINA PIPELINE CORP

SOLE
COM
Shares1.50M
TypeSH
Market value$69.63M
4.32%
Sole
1.50M
Shared
0.00
None
0.00

PHILLIPS 66

SOLE
COM
Shares403.02K
TypeSH
Market value$68.13M
4.23%
Sole
403.02K
Shared
0.00
None
0.00

SUNCOR ENERGY INC NEW

SOLE
COM
Shares1.15M
TypeSH
Market value$62.73M
3.89%
Sole
1.15M
Shared
0.00
None
0.00

WILLIAMS COS INC

SOLE
COM
Shares762.87K
TypeSH
Market value$56.71M
3.52%
Sole
762.87K
Shared
0.00
None
0.00

DT MIDSTREAM INC

SOLE
COMMON STOCK
Shares355.15K
TypeSH
Market value$52.12M
3.24%
Sole
355.15K
Shared
0.00
None
0.00

WESTERN MIDSTREAM PARTNERS L

SOLE
COM UNIT LP INT
Shares1.13M
TypeSH
Market value$49.59M
3.08%
Sole
1.13M
Shared
0.00
None
0.00

ENBRIDGE INC

SOLE
COM
Shares882.89K
TypeSH
Market value$47.86M
2.97%
Sole
882.89K
Shared
0.00
None
0.00

PLAINS GP HLDGS L P

SOLE
LTD PARTNR INT A
Shares1.79M
TypeSH
Market value$43.60M
2.71%
Sole
1.79M
Shared
0.00
None
0.00

SOUTH BOW CORP

SOLE
COM
Shares1.16M
TypeSH
Market value$40.83M
2.53%
Sole
1.16M
Shared
0.00
None
0.00

PBF ENERGY INC

SOLE
CL A
Shares729.53K
TypeSH
Market value$33.21M
2.06%
Sole
729.53K
Shared
0.00
None
0.00

MPLX LP

SOLE
COM UNIT REP LTD
Shares544.71K
TypeSH
Market value$30.68M
1.90%
Sole
544.71K
Shared
0.00
None
0.00

VENTURE GLOBAL INC

SOLE
COM CL A
Shares2.03M
TypeSH
Market value$22.55M
1.40%
Sole
2.03M
Shared
0.00
None
0.00

MARATHON PETE CORP

SOLE
COM
Shares85.80K
TypeSH
Market value$21.94M
1.36%
Sole
85.80K
Shared
0.00
None
0.00

VIPER ENERGY INC

SOLE
CL A
Shares468.06K
TypeSH
Market value$19.85M
1.23%
Sole
468.06K
Shared
0.00
None
0.00

BARRICK MNG CORP

SOLE
COM SHS
Shares234.84K
TypeSH
Market value$10.35M
0.64%
Sole
234.84K
Shared
0.00
None
0.00

DOW HLDGS INC

SOLE
COM
Shares365.81K
TypeSH
Market value$10.01M
0.62%
Sole
365.81K
Shared
0.00
None
0.00
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