Recurrent Investment Advisors LLC — 13F Holdings & Portfolio
CIK 1803146 · latest 13F-HR filed 2026-05-15
Recurrent Investment Advisors LLC manages $1.66B in 13F-reported U.S. long-equity assets across 67 reported positions as of its 2026-03-31 13F-HR filing. Its largest disclosed positions are CVE (9.61%), TRGP (7.12%), ET (6.46%). Quarter over quarter (versus its 2025-12-31 filing) the fund opened 0 new positions, exited 4, added to 54, and trimmed 7.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
$1.66B
Long-equity book
67
Distinct positions
2026-03-31
Filed 2026-05-15
+0 / −4 / ↑54 / ↓7
vs 2025-12-31
| Name | Title / Status | Ownership | Type |
|---|
Top Adds (vs prior quarter)
- CENOVUS ENERGY INC$48.5M +43.7%
- KINDER MORGAN INC DEL$40.7M +99.6%
- CHENIERE ENERGY INC$33.7M +65.6%
- SUNOCO LP/SUNOCO FIN CORP$31.2M +87.8%
- MURPHY USA INC$24.2M +50.8%
Top Trims
- WESTERN MIDSTREAM PARTNERS L-$6.2M -11.6%
- FREEPORT MCMORAN INC-$1.4M -30.7%
- ALCOA CORP-$858.0K -46.1%
- VALERO ENERGY CORP-$426.3K -43.4%
- CONSTELLATION ENERGY CORP-$311.8K -46.0%
Exited Positions
- KEYCORP$84.5M
- SEALED AIR CORP NEW$553.1K
- BP PLC$514.2K
- ANTERO MIDSTREAM CORP$266.9K
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CENOVUS ENERGY INC | CVE | 15135U109 | $159.6M | 9.61% | 5,799,641 | SH |
| 2 | TARGA RES CORP | TRGP | 87612G101 | $118.3M | 7.12% | 471,801 | SH |
| 3 | ENERGY TRANSFER L P | ET | 29273V100 | $107.4M | 6.46% | 5,562,381 | SH |
| 4 | ONEOK INC NEW | OKE | 682680103 | $104.5M | 6.29% | 1,156,034 | SH |
| 5 | SUNCOR ENERGY INC NEW | SU | 867224107 | $101.9M | 6.14% | 1,515,161 | SH |
| 6 | CHENIERE ENERGY INC | LNG | 16411R208 | $85.1M | 5.13% | 300,074 | SH |
| 7 | KINDER MORGAN INC DEL | KMI | 49456B101 | $81.5M | 4.91% | 2,430,444 | SH |
| 8 | PHILLIPS 66 | PSX | 718546104 | $75.4M | 4.54% | 414,064 | SH |
| 9 | MURPHY USA INC | MUSA | 626755102 | $72.0M | 4.33% | 146,119 | SH |
| 10 | PEMBINA PIPELINE CORP | PBA | 706327103 | $67.2M | 4.04% | 1,494,250 | SH |
| 11 | SUNOCO LP/SUNOCO FIN CORP | SUN | 86765K109 | $66.8M | 4.02% | 1,027,877 | SH |
| 12 | ENTERPRISE PRODS PARTNERS L | EPD | 293792107 | $63.4M | 3.82% | 1,675,483 | SH |
| 13 | WILLIAMS COS INC | WMB | 969457100 | $55.5M | 3.34% | 762,867 | SH |
| 14 | PLAINS GP HLDGS L P | PAGP | 72651A207 | $51.4M | 3.09% | 2,124,947 | SH |
| 15 | DT MIDSTREAM INC | DTM | 23345M107 | $47.8M | 2.88% | 355,156 | SH |
| 16 | PBF ENERGY INC | PBF | 69318G106 | $47.8M | 2.87% | 1,002,915 | SH |
| 17 | WESTERN MIDSTREAM PARTNERS L | WES | 958669103 | $46.7M | 2.81% | 1,134,758 | SH |
| 18 | VIPER ENERGY INC | VNOM | 64361Q101 | $46.5M | 2.80% | 989,318 | SH |
| 19 | MARATHON PETE CORP | MPC | 56585A102 | $44.2M | 2.66% | 180,958 | SH |
| 20 | SOUTH BOW CORP | SOBO | 83671M105 | $38.7M | 2.33% | 1,161,016 | SH |
| 21 | ENBRIDGE INC | ENB | 29250N105 | $25.2M | 1.52% | 465,619 | SH |
| 22 | DOW HLDGS INC | DOW | 260557103 | $14.0M | 0.84% | 335,209 | SH |
| 23 | WESTLAKE CORPORATION | WLK | 960413102 | $13.2M | 0.79% | 112,790 | SH |
| 24 | BARRICK MNG CORP | B | 06849F108 | $11.4M | 0.68% | 234,761 | SH |
| 25 | NEWMONT CORP | NEM | 651639106 | $10.5M | 0.63% | 97,245 | SH |
| 26 | LYONDELLBASELL INDUSTRIES NV | LYB | N53745100 | $10.1M | 0.61% | 125,488 | SH |
| 27 | EXXON MOBIL CORP | XOM | 30231G102 | $9.9M | 0.60% | 58,300 | SH |
| 28 | CHEVRON CORPORATION | CVX | 166764100 | $8.9M | 0.54% | 43,163 | SH |
| 29 | HUNTSMAN CORP | HUN | 447011107 | $7.1M | 0.43% | 535,914 | SH |
| 30 | EASTMAN CHEM CO | EMN | 277432100 | $6.7M | 0.40% | 87,136 | SH |
| 31 | NUTRIEN LTD | NTR | 67077M108 | $5.5M | 0.33% | 52,360 | SH |
| 32 | MATADOR RES CO | MTDR | 576485205 | $4.9M | 0.29% | 76,996 | SH |
| 33 | CONOCOPHILLIPS | COP | 20825C104 | $4.5M | 0.27% | 33,972 | SH |
| 34 | VALE S A | VALE | 91912E105 | $3.1M | 0.19% | 196,130 | SH |
| 35 | FREEPORT MCMORAN INC | FCX | 35671D857 | $3.1M | 0.19% | 52,517 | SH |
| 36 | CANADIAN NAT RES LTD MED TER | CNQ | 136385101 | $2.9M | 0.17% | 59,242 | SH |
| 37 | HALLIBURTON CO | HAL | 406216101 | $2.9M | 0.17% | 73,648 | SH |
| 38 | NUCOR CORP | NUE | 670346105 | $2.8M | 0.17% | 16,615 | SH |
| 39 | TECK RESOURCES LTD | TECK | 878742204 | $2.6M | 0.16% | 40,394 | SH |
| 40 | RIO TINTO PLC | RIO | 767204100 | $2.5M | 0.15% | 27,247 | SH |
| 41 | DIAMONDBACK ENERGY INC | FANG | 25278X109 | $2.3M | 0.14% | 11,756 | SH |
| 42 | SHELL PLC | SHEL | 780259305 | $2.0M | 0.12% | 56,141 | SH |
| 43 | BHP BILLITON LIMITED | BHP | 088606108 | $2.0M | 0.12% | 27,271 | SH |
| 44 | DARLING INGREDIENTS INC | DAR | 237266101 | $1.7M | 0.10% | 27,265 | SH |
| 45 | POSCO HOLDINGS INC | PKX | 693483109 | $1.5M | 0.09% | 24,960 | SH |
| 46 | MOSAIC CO | MOS | 61945C103 | $1.4M | 0.08% | 54,447 | SH |
| 47 | TOTALENERGIES SE | TTE | F92124100 | $1.3M | 0.08% | 15,824 | SH |
| 48 | ALBEMARLE CORP | ALB | 012653101 | $1.1M | 0.07% | 6,283 | SH |
| 49 | EXPAND ENERGY CORPORATION | EXE | 165167735 | $1.1M | 0.06% | 9,689 | SH |
| 50 | CF INDUSTRIES HOLD | CF | 125269100 | $1.1M | 0.06% | 8,163 | SH |
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-03-31 | 2026-05-15 | $1.66B | 67 | 0001420506-26-001065 |
| 2025-12-31 | 2026-02-13 | $1.35B | 71 | 0001420506-26-000354 |
| 2025-09-30 | 2025-11-13 | $1.30B | 64 | 0001420506-25-003193 |