CIK 1329375
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Utilities | 63.05% | 25 |
| Oil, Gas & Consumable Fuels | 23.55% | 16 |
| Construction & Engineering | 5.43% | 7 |
| Electrical Equipment & Components | 1.95% | 2 |
| Software | 1.31% | 3 |
| Machinery | 1.09% | 1 |
| Semiconductors & Semiconductor Equipment | 0.86% | 1 |
| Distributors | 0.63% | 1 |
| Technology Hardware & Equipment | 0.57% | 1 |
| Software & IT Services | 0.56% | 1 |
| Banks | 0.39% | 3 |
| Equity Real Estate Investment Trusts (REITs) | 0.31% | 1 |
| Coal & Consumable Fuels | 0.26% | 1 |
| Marine | 0.02% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | TRGP | Targa Resources Corp. | Utilities | 8.14% |
| 2 | ET | Energy Transfer LP | Utilities | 7.68% |
| 3 | WMB | WILLIAMS COMPANIES, INC. | Utilities | 6.16% |
| 4 | MPLX | MPLX LP | Energy | 5.28% |
| 5 | DTM | DT Midstream, Inc. | Utilities | 4.87% |
| 6 | OKE | ONEOK INC /NEW/ | Utilities | 4.81% |
| 7 | KMI | KINDER MORGAN, INC. | Utilities | 4.54% |
| 8 | KNTK | Kinetik Holdings Inc. | Utilities | 4.52% |
| 9 | PAGP | PLAINS GP HOLDINGS LP | Energy | 4.18% |
| 10 | TRP | TC ENERGY CORP | Utilities | 3.99% |
64/64 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 88.3%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 56.6% of book weight (33/64 names) · unclassified 43.4%: ET, MPLX, PAGP, TRP, WES, EPD, PBA, ENB, SOBO, TLN +21 more. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | TRGPTARGA RES CORP | 652,300 | $164M | 8.1% | TRIM −4% |
| 2 | ETENERGY TRANSFER L P | 7,997,600 | $154M | 7.7% | HOLD |
| 3 | WMBWILLIAMS COS INC | 1,700,100 | $124M | 6.2% | ADD 7% |
| 4 | MPLXMPLX LP | 1,859,100 | $106M | 5.3% | HOLD |
| 5 | DTMDT MIDSTREAM INC | 727,100 | $98M | 4.9% | TRIM −3% |
| 6 | OKEONEOK INC NEW | 1,069,900 | $97M | 4.8% | TRIM −18% |
| 7 | KMIKINDER MORGAN INC DEL | 2,722,300 | $91M | 4.5% | TRIM −5% |
| 8 | KNTKKINETIK HOLDINGS INC | 1,874,000 | $91M | 4.5% | HOLD |
| 9 | PAGPPLAINS GP HLDGS L P | 3,460,000 | $84M | 4.2% | TRIM −7% |
| 10 | TRPTC ENERGY CORP | 1,280,600 | $80M | 4.0% | HOLD |
| 11 | LNGCheniere Energy, Inc | 279,800 | $79M | 4.0% | TRIM −14% |
| 12 | WESWESTERN MIDSTREAM PARTNERS L | 1,676,900 | $69M | 3.4% | ADD 9% |
| 13 | EPDENTERPRISE PRODS PARTNERS L | 1,745,500 | $66M | 3.3% | TRIM −3% |
| 14 | PBAPEMBINA PIPELINE CORP | 1,357,100 | $61M | 3.0% | HOLD |
| 15 | ENBENBRIDGE INC | 1,001,500 | $54M | 2.7% | ADD 67% |
| 16 | MPCMARATHON PETE CORP | 142,800 | $35M | 1.7% | ADD 73% |
| 17 | PSXPHILLIPS 66 | 180,100 | $33M | 1.6% | TRIM −6% |
| 18 | SOBOSOUTH BOW CORP | 865,500 | $29M | 1.4% | TRIM −42% |
| 19 | TLNTALEN ENERGY CORP | 89,300 | $29M | 1.4% | TRIM −24% |
| 20 | VSTVISTRA CORP | 183,600 | $28M | 1.4% | TRIM −12% |
| 21 | EQTEQT CORP | 403,258 | $26M | 1.3% | ADD 17% |
| 22 | NRGNRG ENERGY INC | 170,500 | $25M | 1.2% | ADD 5% |
| 23 | CEGCONSTELLATION ENERGY CORP | 82,700 | $23M | 1.1% | TRIM −29% |
| 24 | MTZMASTEC INC | 70,900 | $23M | 1.1% | HOLD |
| 25 | SEISOLARIS ENERGY INFRAS INC | 388,000 | $22M | 1.1% | ADD 536% |
| 26 | PRIMPRIMORIS SVCS CORP | 152,000 | $22M | 1.1% | ADD 20% |
| 27 | GEVGE VERNOVA INC | 24,000 | $21M | 1.0% | TRIM −50% |
| 28 | PWRQUANTA SVCS INC | 38,000 | $21M | 1.0% | TRIM −3% |
| 29 | AGXARGAN INC | 38,000 | $21M | 1.0% | ADD 9% |
| 30 | BEBLOOM ENERGY CORP | 135,000 | $18M | 0.9% | ADD 17% |
| 31 | NXTNEXTPOWER INC | 143,000 | $17M | 0.9% | TRIM −12% |
| 32 | APCARKO PETE CORP | 712,451 | $13M | 0.6% | NEW |
| 33 | SUNCSUNOCOCORP LLC | 200,000 | $12M | 0.6% | NEW |
| 34 | DYDYCOM INDS INC | 36,000 | $12M | 0.6% | ADD 140% |
| 35 | CRWDCROWDSTRIKE HLDGS INC | 30,000 | $12M | 0.6% | ADD 20% |
| 36 | PANWPALO ALTO NETWORKS INC | 72,000 | $12M | 0.6% | ADD 53% |
| 37 | DOCNDIGITALOCEAN HLDGS INC | 132,200 | $11M | 0.6% | ADD 14% |
| 38 | EEEXCELERATE ENERGY INC | 325,000 | $11M | 0.5% | NEW |
| 39 | NETCLOUDFLARE INC | 50,000 | $10M | 0.5% | ADD 67% |
| 40 | VNOMVIPER ENERGY INC | 205,000 | $10M | 0.5% | TRIM −27% |
| 41 | NEENEXTERA ENERGY INC | 95,000 | $9M | 0.4% | ADD 90% |
| 42 | TXOTXO PARTNERS LP | 581,000 | $7M | 0.4% | HOLD |
| 43 | ETRENTERGY CORP NEW | 63,000 | $7M | 0.4% | HOLD |
| 44 | WTTRSELECT WATER SOLUTIONS INC | 420,000 | $6M | 0.3% | NEW |
| 45 | DLRDIGITAL RLTY TR INC | 34,000 | $6M | 0.3% | HOLD |
| 46 | MWHSOLV ENERGY INC | 200,000 | $6M | 0.3% | NEW |
| 47 | WBIWATERBRIDGE INFRASTRUCTURE L | 202,500 | $5M | 0.3% | NEW |
| 48 | IRENIREN LIMITED | 157,000 | $5M | 0.3% | ADD 3% |
| 49 | ARLPALLIANCE RESOURCE PARTNERS L | 191,000 | $5M | 0.3% | HOLD |
| 50 | STRLSTERLING INFRASTRUCTURE INC | 11,550 | $5M | 0.2% | NEW |
| 51 | DUKDUKE ENERGY CORP NEW | 35,000 | $5M | 0.2% | NEW |
| 52 | AMANTERO MIDSTREAM CORP | 201,000 | $5M | 0.2% | TRIM −36% |
| 53 | SNOWSNOWFLAKE INC | 29,000 | $4M | 0.2% | ADD 26% |
| 54 | SOSOUTHERN CO | 45,000 | $4M | 0.2% | HOLD |
| 55 | WECWEC ENERGY GROUP INC | 35,000 | $4M | 0.2% | HOLD |
| 56 | AEPAMERICAN ELEC PWR CO INC | 25,000 | $3M | 0.2% | HOLD |
| 57 | GELGENESIS ENERGY L P | 151,000 | $3M | 0.1% | TRIM −19% |
| 58 | CIFRCIPHER MINING INC | 170,000 | $2M | 0.1% | NEW |
| 59 | NGLNGL ENERGY PARTNERS LP | 150,000 | $2M | 0.1% | HOLD |
| 60 | PAAPLAINS ALL AMERN PIPELINE L | 55,300 | $1M | 0.1% | TRIM −64% |
| 61 | CVECENOVUS ENERGY INC | 30,000 | $795,900 | 0.0% | TRIM −93% |
| 62 | GLNGGOLAR LNG LTD BERMUDA | 7,000 | $378,770 | 0.0% | NEW |
| 63 | CLSKCLEANSPARK INC | 32,000 | $272,320 | 0.0% | ADD 60% |
| 64 | NFENEW FORTRESS ENERGY INC | 100,000 | $59,000 | 0.0% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| TRGPTARGA RES CORP | 673K | 685K | 666K | 682K | 681K | 652K | $164M |
| ETENERGY TRANSFER L P | 7.6M | 7.4M | 7.2M | 8.2M | 8.0M | 8.0M | $154M |
| WMBWILLIAMS COS INC | 1.3M | 1.3M | 1.2M | 1.2M | 1.6M | 1.7M | $124M |
| MPLXMPLX LP | 1.5M | 1.8M | 1.7M | 1.7M | 1.9M | 1.9M | $106M |
| DTMDT MIDSTREAM INC | 785K | 751K | 748K | 679K | 749K | 727K | $98M |
| OKEONEOK INC NEW | 847K | 1.1M | 1.3M | 1.1M | 1.3M | 1.1M | $97M |
| KMIKINDER MORGAN INC DEL | 2.6M | 2.9M | 2.5M | 2.6M | 2.9M | 2.7M | $91M |
| KNTKKINETIK HOLDINGS INC | 440K | 590K | 779K | 988K | 1.8M | 1.9M | $91M |
| PAGPPLAINS GP HLDGS L P | 4.0M | 4.0M | 3.5M | 3.6M | 3.7M | 3.5M | $84M |
| TRPTC ENERGY CORP | 1.4M | 1.6M | 1.3M | 1.4M | 1.3M | 1.3M | $80M |
| LNGCheniere Energy, Inc | 505K | 541K | 460K | 451K | 325K | 280K | $79M |
| WESWESTERN MIDSTREAM PARTNERS L | 1.3M | 1.3M | 1.2M | 1.3M | 1.5M | 1.7M | $69M |
| EPDENTERPRISE PRODS PARTNERS L | 2.2M | 1.9M | 2.0M | 2.0M | 1.8M | 1.7M | $66M |
| PBAPEMBINA PIPELINE CORP | 1.7M | 1.8M | 1.7M | 1.6M | 1.3M | 1.4M | $61M |
| ENBENBRIDGE INC | 307K | 302K | 302K | 502K | 602K | 1.0M | $54M |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
Where this firm's principals came from and which firms its alumni went on to found.
