CIK 1588225
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 | 74.34% | 11 |
| Oil, Gas & Consumable Fuels | 25.66% | 5 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | EPD | ENTERPRISE PRODUCTS PARTNERS L.P. | Utilities | 17.10% |
| 2 | MPLX | MPLX LP | Energy | 16.88% |
| 3 | WMB | WILLIAMS COMPANIES, INC. | Utilities | 16.70% |
| 4 | ET | Energy Transfer LP | Utilities | 14.08% |
| 5 | OKE | ONEOK INC /NEW/ | Utilities | 11.62% |
| 6 | WES | Western Midstream Partners, LP | Utilities | 7.75% |
| 7 | PAGP | PLAINS GP HOLDINGS LP | Energy | 4.01% |
| 8 | HESM | Hess Midstream LP | Energy | 3.28% |
| 9 | KMI | KINDER MORGAN, INC. | Utilities | 2.72% |
| 10 | TRGP | Targa Resources Corp. | Utilities | 2.37% |
16/16 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 97.8%; 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).
Only 34% of book weight classified — the grid is NOT representative of the whole book.
Classified: 34.4% of book weight (6/16 names) · unclassified 65.6%: EPD, MPLX, ET, WES, PAGP, HESM, ENB, PBA, TRP, CQP. 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 | EPDENTERPRISE PRODS PARTNERS L | 495,048 | $19M | 17.1% | HOLD |
| 2 | MPLXMPLX LP | 324,039 | $18M | 16.9% | HOLD |
| 3 | WMBWILLIAMS COS INC | 251,402 | $18M | 16.7% | HOLD |
| 4 | ETENERGY TRANSFER L P | 799,229 | $15M | 14.1% | HOLD |
| 5 | OKEONEOK INC NEW | 140,802 | $13M | 11.6% | HOLD |
| 6 | WESWESTERN MIDSTREAM PARTNERS L | 206,361 | $8M | 7.8% | HOLD |
| 7 | PAGPPLAINS GP HLDGS L P | 181,025 | $4M | 4.0% | HOLD |
| 8 | HESMHESS MIDSTREAM LP | 92,505 | $4M | 3.3% | HOLD |
| 9 | KMIKINDER MORGAN INC DEL | 88,725 | $3M | 2.7% | HOLD |
| 10 | TRGPTARGA RES CORP | 10,342 | $3M | 2.4% | HOLD |
| 11 | ENBENBRIDGE INC | 15,507 | $839,549 | 0.8% | TRIM −92% |
| 12 | PBAPEMBINA PIPELINE CORP | 17,698 | $792,162 | 0.7% | TRIM −91% |
| 13 | TRPTC ENERGY CORP | 11,816 | $739,682 | 0.7% | TRIM −91% |
| 14 | LNGCheniere Energy, Inc | 2,497 | $708,549 | 0.6% | HOLD |
| 15 | AMANTERO MIDSTREAM CORP | 16,910 | $385,548 | 0.4% | HOLD |
| 16 | CQPCHENIERE ENERGY PARTNERS LP | 5,810 | $375,500 | 0.3% | HOLD |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| EPDENTERPRISE PRODS PARTNERS L | 555K | 549K | 549K | 549K | 496K | 495K | $19M |
| MPLXMPLX LP | 356K | 356K | 356K | 356K | 324K | 324K | $18M |
| WMBWILLIAMS COS INC | 277K | 276K | 276K | 276K | 250K | 251K | $18M |
| ETENERGY TRANSFER L P | 885K | 884K | 884K | 884K | 802K | 799K | $15M |
| OKEONEOK INC NEW | 158K | 157K | 157K | 156K | 141K | 141K | $13M |
| WESWESTERN MIDSTREAM PARTNERS L | 229K | 228K | 229K | 229K | 206K | 206K | $8M |
| PAGPPLAINS GP HLDGS L P | 196K | 196K | 199K | 199K | 183K | 181K | $4M |
| HESMHESS MIDSTREAM LP | 104K | 103K | 103K | 103K | 94K | 93K | $4M |
| KMIKINDER MORGAN INC DEL | 95K | 95K | 95K | 95K | 89K | 89K | $3M |
| TRGPTARGA RES CORP | 10K | 10K | 10K | 10K | 10K | 10K | $3M |
| ENBENBRIDGE INC | 197K | 197K | 193K | 193K | 193K | 16K | $839,549 |
| PBAPEMBINA PIPELINE CORP | 198K | 198K | 198K | 198K | 198K | 18K | $792,162 |
| TRPTC ENERGY CORP | 127K | 127K | 135K | 137K | 137K | 12K | $739,682 |
| LNGCheniere Energy, Inc | 2K | 2K | 2K | 2K | 2K | 2K | $708,549 |
| AMANTERO MIDSTREAM CORP | 17K | 17K | 17K | 17K | 17K | 17K | $385,548 |
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.
