Recurrent Investment Advisors LLC

Registered adviser

CIK

1803146

Location

HOUSTON, TX

Portfolio Value

Mid $1,603,304,199

Diversification

Diversified

Filing Date

Global Rank

#1,871 / 8,825 ▼ 225

Top Industry

Oil & Gas Midstream 62.7%

3Y Alpha vs SPY

+3.7%

Period ended 4 months ago

Filed Aug 14, 2026 · 3mo

26 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Registered adviser

Form ADV roster, Nov 1, 2026

Form ADV adviser

CRD 288694

Roster of Nov 1, 2026

Regulatory AUM

$1,381,535,163

Main clients

Registered funds and BDCs (85% of AUM)

Registered funds advised

1 series (0 index, 0 ETFs)

$1,126,798,952 net assets· N-CEN Oct 31, 2025

Form ADV history

Monthly rosters from Dec 2019; each row is a run with the same figures, newest first.

Rosters	Regulatory AUM	Main clients
Apr 2026 to Nov 2026	$1,381,535,163	Registered funds and BDCs (85%)
Apr 2025 to Mar 2026	$1,212,336,772	Registered funds and BDCs (87%)
Apr 2024 to Mar 2025	$782,237,028	Registered funds and BDCs (87%)
May 2023 to Mar 2024	$544,697,725	Registered funds and BDCs (83%)
Apr 2023	$544,697,725	Registered funds and BDCs (83%)
Apr 2022 to Mar 2023	$279,383,923	Registered funds and BDCs (80%)

3 earlier changes not shown.

Portfolio style

Measured from the filed 13F common-share book for Jun 30, 2026, never from the firm's own description.

Style

Diversified active

Top 10 weight 56.9%, 22.5 effective positions, active share 96.8% against every 13F filer's combined book; it meets none of the index-like, systematic-like or concentrated tests

Turnover

Low turnover

27.0% over the last four quarters (under 30%)

Horizon

Long horizon

Value-weighted holding period 20.5 quarters (12+), a floor since 55.1% of the book was already held when coverage starts

Closest benchmark: every 13F filer's combined book, active share 96.8%; sector active share 89.1% against the combined 13F book's sector weights.

Over time 26 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

71 tracked positions · as of Jun 30, 2026 · Δ vs Mar 31, 2026

Top Position

7.9%

−1.4 pts

Top 5

33.7%

−1.6 pts

Top 10

56.9%

−1.4 pts

HHI

445

Diversified−22

Portfolio Trend

26 quarters · across all stocks

Sector Breakdown

As of Jun 30, 2026

Sector	% Portfolio	Value	Positions
Energy	88.9%	$1,424,705,589	39
Basic Materials	5.8%	$93,014,857	23
Consumer Cyclical	5.1%	$82,154,818	4
Consumer Defensive	0.1%	$2,053,962	2
Utilities	0.0%	$773,266	2
Real Estate	0.0%	$601,707	1

Last Quarter's Activity

Export CSV

Jun 30, 2026 vs Mar 31, 2026

Added To

Positions the filer increased

25 positions

Ticker	Company	Δ Shares	Shares	Value
ENB	Enbridge Inc	+417,273	882,892	$47,861,575
ET	Energy Transfer LP	+373,013	5,935,394	$113,484,733
EPD	Enterprise Products Partners L.P.	+355,933	2,031,416	$74,674,852
HUN	Huntsman CORP	+256,562	792,476	$8,416,095
KMI	Kinder Morgan, Inc.	+148,085	2,578,529	$82,435,572
SUN	Sunoco LP	+121,557	1,149,434	$77,586,795
EMN	Eastman Chemical Co	+48,715	135,851	$9,099,299
DOW	Dow Inc.	+30,606	365,815	$10,008,698
LYB	LyondellBasell Industries N.V.	+19,221	144,709	$7,618,928
WLK	Westlake Corp	+15,981	128,771	$9,400,283
SUNC	SunocoCorp LLC	+10,700	26,080	$1,764,833
EXE	EXPAND ENERGY Corp	+5,957	15,646	$1,426,758
CRH	Crh Public Ltd Co	+4,147	13,549	$1,449,743
PBA	Pembina Pipeline Corp	+4,002	1,498,252	$69,294,155
OKE	Oneok Inc	+3,923	1,159,957	$100,846,661
LNG	Cheniere Energy, Inc.	+1,279	301,353	$72,026,380
SHEL	Shell plc	+446	56,587	$4,387,755
MUSA	Murphy USA Inc.	+144	146,263	$78,816,742
MOS	Mosaic Co	+95	54,542	$1,155,744
B	Barrick Mining Corp	+83	234,844	$8,625,820
VALE	Vale S.A.	+62	196,192	$2,950,727
IP	International Paper Co	+58	28,324	$1,079,144
MTDR	Matador Resources Co	+51	77,047	$3,835,399
HAL	Halliburton Co	+15	73,663	$2,500,858
XOM	ExxonMobil Holdings Corp	+14	58,314	$7,972,690
No positions match the current search.

Trimmed

Positions the filer reduced

22 positions

Ticker	Company	Δ Shares	Shares	Value
CVE	Cenovus Energy Inc.	−1,060,316	4,739,325	$117,582,653
VNOM	Viper Energy, Inc.	−521,257	468,061	$19,845,786
SU	Suncor Energy Inc	−369,240	1,145,921	$61,513,039
PAGP	Plains Gp Holdings LP	−333,622	1,791,325	$43,475,457
PBF	PBF Energy Inc.	−273,381	729,534	$33,208,387
MPC	Marathon Petroleum Corp	−95,159	85,799	$21,936,230
PKX	Posco Holdings Inc.	−12,538	12,422	$638,242
PSX	Phillips 66	−11,048	403,016	$68,129,854
ALB	Albemarle Corp	−3,746	2,537	$342,571
SOBO	South Bow Corp	−2,278	1,158,738	$40,833,927
KNTK	Kinetik Holdings Inc.	−1,730	9,970	$481,949
WES	Western Midstream Partners, LP	−1,467	1,133,291	$49,592,814
TRGP	Targa Resources Corp.	−1,164	470,637	$126,196,605
MT	ArcelorMittal	−32	15,371	$925,641
FCX	Freeport-Mcmoran Inc	−31	52,486	$3,300,844
AA	Alcoa Corp	−30	15,100	$787,314
WY	Weyerhaeuser Co	−10	25,134	$601,707
BHP	BHP Group Ltd	−9	27,262	$2,271,197
ADM	Archer-Daniels-Midland Co	−4	7,392	$564,748
NTR	Nutrien Ltd.	−3	52,357	$3,295,873
DTM	DT Midstream, Inc.	−2	355,154	$52,115,297
RIO	Rio Tinto PLC	−2	27,245	$2,586,367
No positions match the current search.

New Positions

Positions the filer opened this quarter

4 positions

Ticker	Company	Shares	Value
MPLX	Mplx LP	544,714	$30,683,739
VG	Venture Global, Inc.	2,025,792	$22,547,064
KGC	Kinross Gold Corp	147,739	$3,489,595
BP	Bp PLC	126,792	$594,182
No positions match the current search.

Sold Out

Positions the filer fully exited

No qualifying positions this quarter.

Portfolio Positions

Compact Export CSV View 13F filing

71 tracked positions · $1,603,304,199 total · filing declares 71 positions · $1,610,959,816 · as of Jun 30, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Real Estate Utilities

Showing 1–50 of 71 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
TRGP	Targa Resources Corp. Energy	Reduced	470,637	-1,164	$126,196,605	+6.7%	23	$86.69	7.87%
CVE	Cenovus Energy Inc. Energy	Reduced	4,739,325	-1,060,316	$117,582,653	−23.6%	26+	before history	7.33%
ET	Energy Transfer LP Energy	Added	5,935,394	+373,013	$113,484,733	+5.7%	26+	before history	7.08%
OKE	Oneok Inc Energy	Added	1,159,957	+3,923	$100,846,661	−3.5%	13	$75.03	6.29%
KMI	Kinder Morgan, Inc. Energy	Added	2,578,529	+148,085	$82,435,572	+1.2%	26+	before history	5.14%
MUSA	Murphy USA Inc. Consumer Cyclical	Added	146,263	+144	$78,816,742	+9.2%	13	$400.19	4.92%
SUN	Sunoco LP Energy	Added	1,149,434	+121,557	$77,586,795	+16.2%	26+	before history	4.84%
EPD	Enterprise Products Partners L.P. Energy	Added	2,031,416	+355,933	$74,674,852	+17.8%	26+	before history	4.66%
LNG	Cheniere Energy, Inc. Energy	Added	301,353	+1,279	$72,026,380	−15.4%	26+	before history	4.49%
PBA	Pembina Pipeline Corp Energy	Added	1,498,252	+4,002	$69,294,155	+3.6%	26+	before history	4.32%
PSX	Phillips 66 Energy	Reduced	403,016	-11,048	$68,129,854	−9.7%	26+	before history	4.25%
SU	Suncor Energy Inc Energy	Reduced	1,145,921	-369,240	$61,513,039	−38.6%	25	$30.42	3.84%
WMB	Williams Companies, Inc. Energy	Held	762,867	0	$56,711,532	+2.1%	26+	before history	3.54%
DTM	DT Midstream, Inc. Energy	Reduced	355,154	-2	$52,115,297	+9.0%	9	$69.07	3.25%
WES	Western Midstream Partners, LP Energy	Reduced	1,133,291	-1,467	$49,592,814	+6.2%	23	$23.62	3.09%
ENB	Enbridge Inc Energy	Added	882,892	+417,273	$47,861,575	+89.9%	26+	before history	2.99%
PAGP	Plains Gp Holdings LP Energy	Reduced	1,791,325	-333,622	$43,475,457	−15.7%	26+	before history	2.71%
SOBO	South Bow Corp Energy	Reduced	1,158,738	-2,278	$40,833,927	+5.6%	5	$25.44	2.55%
PBF	PBF Energy Inc. Energy	Reduced	729,534	-273,381	$33,208,387	−30.5%	8	$25.73	2.07%
MPLX	Mplx LP Energy	NEW	544,714	NEW	$30,683,739	NEW	1	$55.79	1.91%
VG	Venture Global, Inc. Energy	NEW	2,025,792	NEW	$22,547,064	NEW	1	$12.65	1.41%
MPC	Marathon Petroleum Corp Energy	Reduced	85,799	-95,159	$21,936,230	−50.4%	26+	before history	1.37%
VNOM	Viper Energy, Inc. Energy	Reduced	468,061	-521,257	$19,845,786	−57.3%	4	$39.30	1.24%
DOW	Dow Inc. Basic Materials	Added	365,815	+30,606	$10,008,698	−28.3%	16	$29.17	0.62%
WLK	Westlake Corp Basic Materials	Added	128,771	+15,981	$9,400,283	−28.7%	26+	before history	0.59%
EMN	Eastman Chemical Co Basic Materials	Added	135,851	+48,715	$9,099,299	+36.8%	3	$69.39	0.57%
NEM	NEWMONT Corp Basic Materials	Held	97,245	0	$9,082,683	−13.7%	25	$50.51	0.57%
B	Barrick Mining Corp Basic Materials	Added	234,844	+83	$8,625,820	−9.9%	5	$20.47	0.54%
HUN	Huntsman CORP Basic Materials	Added	792,476	+256,562	$8,416,095	+18.0%	3	$11.74	0.52%
XOM	ExxonMobil Holdings Corp Energy	Added	58,314	+14	$7,972,690	−19.4%	26+	before history	0.50%
LYB	LyondellBasell Industries N.V. Basic Materials	Added	144,709	+19,221	$7,618,928	−24.6%	3	$54.82	0.48%
CVX	Chevron Corp Energy	Added	43,165	+2	$7,155,030	−19.9%	7	$154.23	0.45%
SHEL	Shell plc Energy	Added	56,587	+446	$4,387,755	−16.0%	6	$68.21	0.27%
MTDR	Matador Resources Co Energy	Added	77,047	+51	$3,835,399	−21.2%	7	$48.44	0.24%
NUE	Nucor Corp Basic Materials	Added	16,621	+6	$3,702,327	+31.8%	26+	before history	0.23%
COP	Conocophillips Energy	Held	33,972	0	$3,531,729	−21.2%	26+	before history	0.22%
KGC	Kinross Gold Corp Basic Materials	NEW	147,739	NEW	$3,489,595	NEW	1	$29.39	0.22%
FCX	Freeport-Mcmoran Inc Basic Materials	Reduced	52,486	-31	$3,300,844	+6.9%	26+	before history	0.21%
NTR	Nutrien Ltd. Basic Materials	Reduced	52,357	-3	$3,295,873	−16.6%	10	$52.99	0.21%
VALE	Vale S.A. Basic Materials	Added	196,192	+62	$2,950,727	−5.4%	26+	before history	0.18%
RIO	Rio Tinto PLC Basic Materials	Reduced	27,245	-2	$2,586,367	+1.8%	26+	before history	0.16%
HAL	Halliburton Co Energy	Added	73,663	+15	$2,500,858	−12.9%	15	$31.27	0.16%
TECK	Teck Resources Ltd Basic Materials	Held	40,394	0	$2,401,827	+14.9%	10	$41.52	0.15%
CNQ	CANADIAN NATURAL RESOURCES Ltd Energy	Held	59,242	0	$2,340,059	−18.9%	7	$33.68	0.15%
BHP	BHP Group Ltd Basic Materials	Reduced	27,262	-9	$2,271,197	+14.5%	26+	before history	0.14%
FANG	Diamondback Energy, Inc. Energy	Held	11,756	0	$2,066,469	−11.1%	7	$169.54	0.13%
SUNC	SunocoCorp LLC Energy	Added	26,080	+10,700	$1,764,833	+86.1%	3	$57.69	0.11%
DAR	Darling Ingredients Inc. Consumer Defensive	Held	27,265	0	$1,489,214	−11.7%	23	$49.26	0.09%
CRH	Crh Public Ltd Co Basic Materials	Added	13,549	+4,147	$1,449,743	+46.7%	5	$103.18	0.09%
EXE	EXPAND ENERGY Corp Energy	Added	15,646	+5,957	$1,426,758	+34.1%	7	$95.51	0.09%

Showing the top 50 of 71 positions. Create a free account to see every position, past quarters, search, filters and CSV export.

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.