Performance vs S&P 500

03
Tracked Q4 2025–Q2 2026 +25.0%
S&P 500 total return (same window) +8.7%
Excess return +16.3%

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: 100.0% · Options excluded: 0.0%

Sector breakdown

04
Energy 91.6%
Technology 8.4%

Full portfolio 25 positions

05
Type Streak 8Q trend
KNTK Kinetik Holdings Inc. Class A Common Stock $38,575,272 11.16% 797,999 $10,597,390 Up ×1
AM Antero Midstream Corporation Common Stock $34,434,628 9.96% 1,513,610 $-75,680
WMB Williams Companies, Inc. (The) Common Stock $27,883,224 8.07% 375,077 $585,120
KMI Kinder Morgan, Inc. Common Stock $27,354,427 7.91% 855,628 $-1,334,780
ET Energy Transfer LP Common Units $23,618,171 6.83% 1,235,260 $-222,347
LNG Cheniere Energy, Inc. Common Stock $22,036,005 6.38% 92,197 $-4,125,816
PAGP Plains GP Holdings, L.P. - Class A Shares representing limited partner interests $19,122,042 5.53% 787,888 $-1,207,335 Down ×2
WULF TeraWulf Inc. - Common Stock $17,630,168 5.10% 713,772 $4,499,272 Down ×3
WES Western Midstream Partners, LP Common Units Representing Limited Partner Interests $15,583,942 4.51% 356,123 $7,995,776 Up ×2
TRGP Targa Resources, Inc. Common Stock $13,689,620 3.96% 51,054 $-1,618,449 Down ×2
EPD Enterprise Products Partners L.P. Common Stock $12,936,947 3.74% 351,930 $-4,164,084 Down ×3
GEL Genesis Energy, L.P. Common Units $12,304,406 3.56% 868,342 $-3,178,132
MPLX MPLX LP Common Units Representing Limited Partner Interests $12,065,548 3.49% 214,194 $-158,504
AR Antero Resources Corporation Common Stock $10,708,915 3.10% 304,750 $-1,163,675 Up ×1
DTM DT Midstream, Inc. Common Stock $9,058,700 2.62% 61,733 $745,117
VNOM Viper Energy, Inc. - Class A Common Stock $7,343,807 2.12% 173,203 $-795,002
CIFR Cipher Mining Inc. - Common Stock $6,670,125 1.93% 272,250 $3,066,525 Down ×1
EQT EQT Corporation Common Stock $6,643,538 1.92% 124,949 $-1,308,216
EXE Expand Energy Corporation - Common Stock $6,389,501 1.85% 70,068 $-1,302,564
PR Permian Resources Corporation Class A Common Stock $6,359,403 1.84% 345,432 $-1,005,207
RIOT Riot Platforms, Inc. - Common Stock $4,697,724 1.36% 171,575 $-1,770,363 Down ×1
RRC Range Resources Corporation Common Stock $4,652,246 1.35% 125,094 $-999,501
GPOR Gulfport Energy Corporation Common Shares $2,375,800 0.69% 14,000 $-586,180
INR Infinity Natural Resources, Inc. Class A Common Stock $2,108,022 0.61% 165,986 $-814,991
PAA Plains All American Pipeline, L.P. - Common Units representing Limited Partner Interests $1,392,341 0.40% 62,549 $-4,378

Top movers (QoQ)

10
SecurityActionShares ΔValue Δ
KNTK Bought more +220K +$10.6M
WES Bought more +172K +$8.0M
WULF Trimmed -196K +$4.5M
EPD Trimmed -100K -$4.2M
LNG Price move only +0 -$4.1M
GEL Price move only +0 -$3.2M
CIFR Trimmed -8K +$3.1M
RIOT Trimmed -352K -$1.8M
TRGP Trimmed -10K -$1.6M
KMI Price move only +0 -$1.3M

Exited positions

11

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.

SecurityQuarterShares beforeValue beforePrice since exit
VG June 30, 2026 846,300 $13,337,688 16.3%
VST March 31, 2026 26,153 $4,219,263 -5.2%
CEG March 31, 2026 9,764 $3,449,328 -6.3%
CRK June 30, 2026 149,210 $3,145,347 -15.3%
VNOM (filed as VNOMXXXX) Sept. 30, 2025 203,000 $7,748 5.7%
SOC June 30, 2025 270,000 $6,861 -84.0%
GLNG Dec. 31, 2025 160,000 $6,465 32.2%
OKE Sept. 30, 2025 74,000 $6,054 19.4%
FANG June 30, 2025 16,000 $2,604 33.8%
SJT Dec. 31, 2025 303,000 $1,831 -33.1%
HUT Sept. 30, 2025 55,000 $1,016 148.5%
CIFR June 30, 2025 269,000 $619 215.8%