Recurrent Investment Advisors LLC
CIK 1803146 · View on SEC EDGAR ↗
- Portfolio value
- $1.6B
- Positions
- 71
- As of
- June 30, 2026
#1,771 of 9,443 by 13F value · top 18.8%
Portfolio value QoQ: -3.0% 13F does not disclose cash
- Top 10 holdings weight
- 56.99%
- Top 25 holdings weight
- 92.38%
- Positions above 1%
- 23
- Effective number of positions
- 22.4
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q2 2026: 7.22% Est. buys $125,184,988 · sells $118,201,449
Median holding: 7.0 quarters Tracked Q4 2024–Q2 2026 · 86.6% still held
- New positions
- 4
- Increased
- 27
- Decreased
- 22
- Closed
- 4
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +24.1% · S&P 500: +18.0%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 99.1% · Options excluded: 0.0%
Sector breakdown
Energy
88.7%
Materials
5.9%
Retail
4.9%
Packaging
0.2%
Consumer Staples
0.1%
Industrials
0.1%
Real Estate
0.0%
Utilities
0.0%
Full portfolio 71 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| TRGP Targa Resources, Inc. Common Stock | $126,196,605 | 7.83% | 470,637 | $7,901,941 | Down ×2 | ||
| CVE Cenovus Energy Inc Common Stock | $122,596,100 | 7.61% | 4,739,325 | $-37,008,444 | Down ×3 | ||
| ET Energy Transfer LP Common Units | $113,484,733 | 7.04% | 5,935,394 | $6,130,778 | Up ×6 | ||
| OKE ONEOK, Inc. Common Stock | $100,846,662 | 6.26% | 1,159,957 | $-3,647,251 | Up ×6 | ||
| KMI Kinder Morgan, Inc. Common Stock | $82,435,572 | 5.12% | 2,578,529 | $942,784 | Up ×3 | ||
| MUSA Murphy USA Inc. Common Stock | $78,592,086 | 4.88% | 146,263 | $6,605,791 | Up ×6 | ||
| SUN Sunoco LP Common Units representing limited partner interests | $77,586,795 | 4.82% | 1,149,434 | $10,805,628 | Up ×2 | ||
| EPD Enterprise Products Partners L.P. Common Stock | $74,674,852 | 4.64% | 2,031,416 | $11,274,577 | Up ×1 | ||
| LNG Cheniere Energy, Inc. Common Stock | $72,026,381 | 4.47% | 301,353 | $-13,122,619 | Up ×2 | ||
| PBA Pembina Pipeline Corp. Ordinary Shares (Canada) | $69,630,941 | 4.32% | 1,498,252 | $2,443,865 | Up ×2 | ||
| PSX Phillips 66 Common Stock | $68,129,855 | 4.23% | 403,016 | $-7,304,325 | Down ×4 | ||
| SU Suncor Energy Inc. Common Stock | $62,732,891 | 3.89% | 1,145,921 | $-39,206,195 | Down ×4 | ||
| WMB Williams Companies, Inc. (The) Common Stock | $56,711,533 | 3.52% | 762,867 | $1,190,071 | |||
| DTM DT Midstream, Inc. Common Stock | $52,115,298 | 3.24% | 355,154 | $4,286,441 | Down ×1 | ||
| WES Western Midstream Partners, LP Common Units Representing Limited Partner Interests | $49,592,814 | 3.08% | 1,133,291 | $2,874,827 | Down ×4 | ||
| ENB Enbridge Inc Common Stock | $47,861,617 | 2.97% | 882,892 | $22,653,647 | Up ×2 | ||
| PAGP Plains GP Holdings, L.P. - Class A Shares representing limited partner interests | $43,595,958 | 2.71% | 1,791,325 | $-7,773,219 | Down ×4 | ||
| SOBO South Bow Corporation Common Shares | $40,833,484 | 2.53% | 1,158,738 | $2,151,505 | Down ×3 | ||
| PBF PBF Energy Inc. Class A Common Stock | $33,208,388 | 2.06% | 729,534 | $-14,550,424 | Down ×4 | ||
| MPLX MPLX LP Common Units Representing Limited Partner Interests | $30,683,740 | 1.90% | 544,714 | Up ×1 | |||
| VG Venture Global, Inc. Class A common stock | $22,547,065 | 1.40% | 2,025,792 | Up ×1 | |||
| MPC Marathon Petroleum Corporation Common Stock | $21,936,230 | 1.36% | 85,799 | $-22,250,094 | Down ×2 | ||
| VNOM Viper Energy, Inc. - Class A Common Stock | $19,845,786 | 1.23% | 468,061 | $-26,642,268 | Down ×1 | ||
| B Barrick Mining Corporation Common Shares | $10,345,212 | 0.64% | 234,844 | $-1,021,090 | Up ×2 | ||
| DOW Dow Inc. Common Stock | $10,008,691 | 0.62% | 365,815 | $-3,952,750 | Up ×3 | ||
| WLK Westlake Corporation Common Stock | $9,400,283 | 0.58% | 128,771 | $-3,775,844 | Up ×6 | ||
| EMN Eastman Chemical Company Common Stock | $9,099,328 | 0.56% | 135,851 | $2,449,109 | Up ×2 | ||
| NEM Newmont Corporation | $9,082,683 | 0.56% | 97,245 | $-1,444,089 | |||
| HUN Huntsman Corporation Common Stock | $8,416,097 | 0.52% | 792,476 | $1,283,075 | Up ×2 | ||
| XOM Exxon Mobil Corporation Common Stock | $7,972,690 | 0.49% | 58,314 | $-1,918,488 | Up ×2 | ||
| LYB LyondellBasell Industries NV Ordinary Shares Class A (Netherlands) | $7,618,929 | 0.47% | 144,709 | $-2,490,384 | Up ×2 | ||
| CVX Chevron Corporation Common Stock | $7,155,030 | 0.44% | 43,165 | $-1,775,394 | Up ×2 | ||
| NTR Nutrien Ltd. Common Shares | $4,674,164 | 0.29% | 52,357 | $-819,668 | Down ×1 | ||
| KGC Kinross Gold Corporation Common Stock | $3,930,823 | 0.24% | 147,739 | Up ×1 | |||
| MTDR Matador Resources Company Common Stock | $3,835,400 | 0.24% | 77,047 | $-1,029,208 | Up ×6 | ||
| NUE Nucor Corporation Common Stock | $3,702,328 | 0.23% | 16,621 | $892,731 | Up ×2 | ||
| COP ConocoPhillips Common Stock | $3,531,729 | 0.22% | 33,972 | $-952,575 | |||
| FCX Freeport-McMoRan, Inc. Common Stock | $3,300,845 | 0.20% | 52,486 | $213,895 | Down ×3 | ||
| TECK Teck Resources Ltd Ordinary Shares | $3,046,035 | 0.19% | 40,394 | $431,469 | |||
| VALE VALE S.A. American Depositary Shares Each Representing one common share | $2,950,728 | 0.18% | 196,192 | $-169,700 | Up ×6 | ||
| RIO Rio Tinto Plc Common Stock | $2,586,368 | 0.16% | 27,245 | $44,495 | Down ×1 | ||
| HAL Halliburton Company Common Stock | $2,500,859 | 0.16% | 73,663 | $-370,677 | Up ×2 | ||
| CNQ Canadian Natural Resources Limited Common Stock | $2,340,059 | 0.15% | 59,242 | $-546,804 | |||
| BHP BHP Group Limited American Depositary Shares (Each representing two Ordinary Shares) | $2,271,197 | 0.14% | 27,262 | $287,505 | Down ×1 | ||
| FANG Diamondback Energy, Inc. - Common Stock | $2,066,470 | 0.13% | 11,756 | $-258,749 | |||
| SUNC SunocoCorp LLC Common Units, representing limited liability company interests | $1,764,834 | 0.11% | 26,080 | $816,657 | Up ×2 | ||
| SHEL Shell PLC American Depositary Shares (each representing two (2) Ordinary Shares) | $1,663,891 | 0.10% | 56,587 | $-349,801 | Up ×5 | ||
| DAR Darling Ingredients Inc. Common Stock | $1,489,214 | 0.09% | 27,265 | $-197,126 | |||
| CRH CRH PLC Ordinary Shares | $1,449,743 | 0.09% | 13,549 | $461,404 | Up ×2 | ||
| EXE Expand Energy Corporation - Common Stock | $1,426,759 | 0.09% | 15,646 | $363,101 | Up ×1 | ||
| SW Smurfit WestRock plc Ordinary Shares | $1,207,155 | 0.07% | 26,095 | $167,269 | |||
| MOS Mosaic Company (The) Common Stock | $1,155,745 | 0.07% | 54,542 | $-232,654 | Up ×3 | ||
| IP International Paper Company Common Stock | $1,079,144 | 0.07% | 28,324 | $70,048 | Up ×2 | ||
| TTE TotalEnergies SE Ordinary Shares | $1,076,507 | 0.07% | 15,824 | $-203,813 | |||
| CCK Crown Holdings, Inc. | $1,051,779 | 0.07% | 9,406 | $108,828 | |||
| TRP TC Energy Corporation Common Stock | $958,222 | 0.06% | 14,455 | $53,339 | |||
| CF CF Industries Holdings, Inc. Common Stock | $883,726 | 0.05% | 8,163 | $-176,158 | |||
| MT Arcelor Mittal NY Registry Shares NEW | $810,390 | 0.05% | 15,371 | $134,276 | Down ×1 | ||
| AA Alcoa Corporation Common Stock | $787,314 | 0.05% | 15,100 | $-216,259 | Down ×3 | ||
| CCJ Cameco Corporation Common Stock | $688,268 | 0.04% | 6,757 | $-45,610 | |||
| PKX POSCO HOLDINGS INC. American Depositary Shares (Each representing 1/4th of a share of Common Stock) | $638,242 | 0.04% | 12,422 | $-821,669 | Down ×1 | ||
| WY Weyerhaeuser Company Common Stock | $601,708 | 0.04% | 25,134 | $-12,560 | Down ×1 | ||
| EOG EOG Resources, Inc. Common Stock | $601,558 | 0.04% | 4,637 | $-68,813 | |||
| BP BP p.l.c. Common Stock | $594,182 | 0.04% | 126,792 | ||||
| VLO Valero Energy Corporation Common Stock | $586,250 | 0.04% | 2,251 | $30,073 | |||
| MLM Martin Marietta Materials, Inc. Common Stock | $581,314 | 0.04% | 1,008 | $-12,075 | |||
| ADM Archer-Daniels-Midland Company Common Stock | $564,749 | 0.04% | 7,392 | $27,134 | Down ×1 | ||
| KNTK Kinetik Holdings Inc. Class A Common Stock | $481,950 | 0.03% | 9,970 | $-84,447 | Down ×1 | ||
| VST Vistra Corp. Common Stock | $447,654 | 0.03% | 2,822 | $23,423 | |||
| ALB Albemarle Corporation Common Stock | $342,571 | 0.02% | 2,537 | $-785,416 | Down ×4 | ||
| CEG Constellation Energy Corporation - Common Stock When-Issued | $325,613 | 0.02% | 1,311 | $-40,484 | |||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
| Security | Value | % of portfolio | Streak |
|---|---|---|---|
| ET | $113,484,733 | 7.04% | up ×6 |
| OKE | $100,846,662 | 6.26% | up ×6 |
| KMI | $82,435,572 | 5.12% | up ×3 |
| MUSA | $78,592,086 | 4.88% | up ×6 |
| DOW | $10,008,691 | 0.62% | up ×3 |
| WLK | $9,400,283 | 0.58% | up ×6 |
| MTDR | $3,835,400 | 0.24% | up ×6 |
| VALE | $2,950,728 | 0.18% | up ×6 |
| SHEL | $1,663,891 | 0.10% | up ×5 |
| MOS | $1,155,745 | 0.07% | up ×3 |
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
| Security | Action | Shares Δ | Value Δ |
|---|---|---|---|
| SU | Trimmed | -369K | -$39.2M |
| CVE | Trimmed | -1.1M | -$37.0M |
| VNOM | Trimmed | -521K | -$26.6M |
| ENB | Bought more | +417K | +$22.7M |
| MPC | Trimmed | -95K | -$22.3M |
| PBF | Trimmed | -273K | -$14.6M |
| LNG | Bought more | +1K | -$13.1M |
| EPD | Bought more | +356K | +$11.3M |
| SUN | Bought more | +122K | +$10.8M |
| TRGP | Trimmed | -1K | +$7.9M |
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| KEY | March 31, 2026 | 1,920,957 | $84,522,108 | 10.0% |
| ARLP | Dec. 31, 2025 | 647,283 | $16,366,551 | 13.0% |
| VNOMXXXX | Sept. 30, 2025 | 345,748 | $13,183,371 | No longer tracked |
| GOLD | June 30, 2025 | 215,128 | $5,086,794 | 110.5% |
| HES | Sept. 30, 2025 | 21,308 | $2,952,010 | No longer tracked |
| X | June 30, 2025 | 33,176 | $1,402,018 | No longer tracked |
| SOBO | March 31, 2025 | 31,628 | $993,872 | 50.5% |
| IP | March 31, 2025 | 15,356 | $826,460 | -23.4% |
| SEE | March 31, 2026 | 13,350 | $553,091 | No longer tracked |
| SW | June 30, 2025 | 11,780 | $530,807 | 13.2% |
| BP | March 31, 2026 | 118,388 | $514,207 | -3.8% |
| BP | June 30, 2025 | 111,818 | $489,198 | 51.1% |
| FMC | Dec. 31, 2025 | 13,515 | $454,509 | -21.1% |
| SUM | March 31, 2025 | 6,548 | $331,329 | No longer tracked |
| AM | March 31, 2026 | 15,000 | $266,850 | -1.4% |