CIK 1803146
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 |
|---|---|---|
| Oil, Gas & Consumable Fuels | 46.19% | 24 |
| Utilities | 42.89% | 13 |
| Specialty Retail | 4.33% | 1 |
| Chemicals | 3.62% | 9 |
| Metals & Mining | 2.37% | 11 |
| Construction Materials | 0.25% | 3 |
| Food Products | 0.13% | 2 |
| Paper & Forest Products | 0.12% | 2 |
| Machinery | 0.06% | 1 |
| Equity Real Estate Investment Trusts (REITs) | 0.04% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | CVE | CENOVUS ENERGY | Energy | 9.61% |
| 2 | TRGP | Targa Resources Corp. | Utilities | 7.12% |
| 3 | ET | Energy Transfer LP | Utilities | 6.46% |
| 4 | OKE | ONEOK INC /NEW/ | Utilities | 6.29% |
| 5 | SU | SUNCOR ENERGY INC | Energy | 6.14% |
| 6 | LNG | Cheniere Energy, Inc. | Utilities | 5.13% |
| 7 | KMI | KINDER MORGAN, INC. | Utilities | 4.91% |
| 8 | PSX | Phillips 66 | Energy | 4.54% |
| 9 | MUSA | Murphy USA Inc. | Consumer Discretionary | 4.33% |
| 10 | PBA | PEMBINA PIPELINE CORP | Energy | 4.04% |
67/67 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 72.6%; 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 48% of book weight classified — the grid is NOT representative of the whole book.
Classified: 48.2% of book weight (41/67 names) · unclassified 51.8%: CVE, ET, SU, PBA, SUN, EPD, PAGP, PBF, WES, VNOM +16 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 | CVECENOVUS ENERGY INC | 5,799,641 | $160M | 9.6% | TRIM −9% |
| 2 | TRGPTARGA RES CORP | 471,801 | $118M | 7.1% | TRIM −11% |
| 3 | ETENERGY TRANSFER L P | 5,562,381 | $107M | 6.5% | ADD 4% |
| 4 | OKEONEOK INC NEW | 1,156,034 | $104M | 6.3% | HOLD |
| 5 | SUSUNCOR ENERGY INC NEW | 1,515,161 | $102M | 6.1% | TRIM −14% |
| 6 | LNGCheniere Energy, Inc | 300,074 | $85M | 5.1% | ADD 13% |
| 7 | KMIKINDER MORGAN INC DEL | 2,430,444 | $81M | 4.9% | ADD 64% |
| 8 | PSXPHILLIPS 66 | 414,064 | $75M | 4.5% | TRIM −9% |
| 9 | MUSAMURPHY USA INC | 146,119 | $72M | 4.3% | ADD 23% |
| 10 | PBAPEMBINA PIPELINE CORP | 1,494,250 | $67M | 4.0% | HOLD |
| 11 | SUNSUNOCO LP/SUNOCO FIN CORP | 1,027,877 | $67M | 4.0% | ADD 51% |
| 12 | EPDENTERPRISE PRODS PARTNERS L | 1,675,483 | $63M | 3.8% | HOLD |
| 13 | WMBWILLIAMS COS INC | 762,867 | $56M | 3.3% | HOLD |
| 14 | PAGPPLAINS GP HLDGS L P | 2,124,947 | $51M | 3.1% | TRIM −13% |
| 15 | DTMDT MIDSTREAM INC | 355,156 | $48M | 2.9% | HOLD |
| 16 | PBFPBF ENERGY INC | 1,002,915 | $48M | 2.9% | TRIM −20% |
| 17 | WESWESTERN MIDSTREAM PARTNERS L | 1,134,758 | $47M | 2.8% | TRIM −15% |
| 18 | VNOMVIPER ENERGY INC | 989,318 | $46M | 2.8% | ADD 37% |
| 19 | MPCMARATHON PETE CORP | 180,958 | $44M | 2.7% | TRIM −36% |
| 20 | SOBOSOUTH BOW CORP | 1,161,016 | $39M | 2.3% | TRIM −15% |
| 21 | ENBENBRIDGE INC | 465,619 | $25M | 1.5% | HOLD |
| 22 | DOWDOW HLDGS INC | 335,209 | $14M | 0.8% | ADD 55% |
| 23 | WLKWESTLAKE CORPORATION | 112,790 | $13M | 0.8% | ADD 49% |
| 24 | BBARRICK MNG CORP | 234,761 | $11M | 0.7% | ADD 2% |
| 25 | NEMNEWMONT CORP | 97,245 | $11M | 0.6% | ADD 3% |
| 26 | LYBLYONDELLBASELL INDUSTRIES N | 125,488 | $10M | 0.6% | ADD 110% |
| 27 | XOMEXXON MOBIL CORP | 58,300 | $10M | 0.6% | HOLD |
| 28 | CVXCHEVRON CORP NEW | 43,163 | $9M | 0.5% | HOLD |
| 29 | HUNHUNTSMAN CORP | 535,914 | $7M | 0.4% | ADD 118% |
| 30 | EMNEASTMAN CHEM CO | 87,136 | $7M | 0.4% | ADD 119% |
| 31 | NTRNUTRIEN LTD | 52,360 | $5M | 0.3% | ADD 5% |
| 32 | MTDRMATADOR RES CO | 76,996 | $5M | 0.3% | ADD 14% |
| 33 | COPCONOCOPHILLIPS | 33,972 | $4M | 0.3% | ADD 2% |
| 34 | VALEVALE S A | 196,130 | $3M | 0.2% | ADD 5% |
| 35 | FCXFREEPORT MCMORAN INC | 52,517 | $3M | 0.2% | TRIM −40% |
| 36 | CNQCANADIAN NAT RES LTD | 59,242 | $3M | 0.2% | HOLD |
| 37 | HALHALLIBURTON CO | 73,648 | $3M | 0.2% | HOLD |
| 38 | NUENUCOR CORP | 16,615 | $3M | 0.2% | ADD 2% |
| 39 | TECKTECK RESOURCES LTD | 40,394 | $3M | 0.2% | ADD 3% |
| 40 | RIORIO TINTO PLC | 27,247 | $3M | 0.2% | ADD 5% |
| 41 | FANGDIAMONDBACK ENERGY INC | 11,756 | $2M | 0.1% | HOLD |
| 42 | SHELSHELL PLC | 56,141 | $2M | 0.1% | ADD 5% |
| 43 | BHPBHP BILLITON LIMITED | 27,271 | $2M | 0.1% | ADD 5% |
| 44 | DARDARLING INGREDIENTS INC | 27,265 | $2M | 0.1% | TRIM −10% |
| 45 | PKXPOSCO HOLDINGS INC | 24,960 | $1M | 0.1% | HOLD |
| 46 | MOSMOSAIC CO NEW | 54,447 | $1M | 0.1% | ADD 5% |
| 47 | TTETotalEnergies SE | 15,824 | $1M | 0.1% | ADD 6% |
| 48 | ALBALBEMARLE CORP | 6,283 | $1M | 0.1% | TRIM −19% |
| 49 | EXEEXPAND ENERGY CORPORATION | 9,689 | $1M | 0.1% | HOLD |
| 50 | CFCF INDS HLDGS INC | 8,163 | $1M | 0.1% | ADD 5% |
| 51 | SWSMURFIT WESTROCK PLC | 26,095 | $1M | 0.1% | ADD 114% |
| 52 | IPINTERNATIONAL PAPER CO | 28,266 | $1M | 0.1% | ADD 102% |
| 53 | AAAlcoa Upstream Corp. | 15,130 | $1M | 0.1% | TRIM −57% |
| 54 | CRHCRH PLC | 9,402 | $988,339 | 0.1% | ADD 52% |
| 55 | SUNCSUNOCOCORP LLC | 15,380 | $948,177 | 0.1% | ADD 42% |
| 56 | CCKCROWN HLDGS INC | 9,406 | $942,951 | 0.1% | HOLD |
| 57 | TRPTC ENERGY CORP | 14,455 | $904,883 | 0.1% | ADD 15% |
| 58 | CCJCAMECO CORP | 6,757 | $733,878 | 0.0% | HOLD |
| 59 | MTARCELORMITTAL SA LUXEMBOURG | 15,403 | $676,114 | 0.0% | ADD 5% |
| 60 | EOGEOG RES INC | 4,637 | $670,371 | 0.0% | HOLD |
| 61 | WYWEYERHAEUSER CO | 25,144 | $614,268 | 0.0% | ADD 5% |
| 62 | MLMMARTIN MARIETTA MATLS INC | 1,008 | $593,389 | 0.0% | HOLD |
| 63 | KNTKKINETIK HOLDINGS INC | 11,700 | $566,397 | 0.0% | HOLD |
| 64 | VLOVALERO ENERGY CORP | 2,251 | $556,177 | 0.0% | TRIM −63% |
| 65 | ADMARCHER DANIELS MIDLAND CO | 7,396 | $537,615 | 0.0% | ADD 4% |
| 66 | VSTVISTRA CORP | 2,822 | $424,231 | 0.0% | TRIM −30% |
| 67 | CEGCONSTELLATION ENERGY CORP | 1,311 | $366,097 | 0.0% | TRIM −32% |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| CVECENOVUS ENERGY INC | 4.6M | 4.9M | 6.3M | 6.4M | 6.4M | 5.8M | $160M |
| TRGPTARGA RES CORP | 357K | 358K | 436K | 507K | 529K | 472K | $118M |
| ETENERGY TRANSFER L P | 4.7M | 4.7M | 4.8M | 5.0M | 5.4M | 5.6M | $107M |
| OKEONEOK INC NEW | 659K | 677K | 949K | 1.1M | 1.2M | 1.2M | $104M |
| SUSUNCOR ENERGY INC NEW | 1.7M | 1.8M | 1.8M | 1.8M | 1.8M | 1.5M | $102M |
| LNGCheniere Energy, Inc | 372K | 372K | 311K | 268K | 264K | 300K | $85M |
| KMIKINDER MORGAN INC DEL | 1.9M | 1.9M | 1.5M | 1.5M | 1.5M | 2.4M | $81M |
| PSXPHILLIPS 66 | 393K | 416K | 467K | 464K | 455K | 414K | $75M |
| MUSAMURPHY USA INC | 1K | 2K | 2K | 101K | 119K | 146K | $72M |
| PBAPEMBINA PIPELINE CORP | 1.6M | 2.0M | 1.9M | 1.7M | 1.5M | 1.5M | $67M |
| SUNSUNOCO LP/SUNOCO FIN CORP | 889K | 933K | 934K | 934K | 679K | 1.0M | $67M |
| EPDENTERPRISE PRODS PARTNERS L | 1.8M | 1.7M | 1.7M | 1.7M | 1.7M | 1.7M | $63M |
| WMBWILLIAMS COS INC | 852K | 852K | 762K | 760K | 761K | 763K | $56M |
| PAGPPLAINS GP HLDGS L P | 2.7M | 2.7M | 2.7M | 2.4M | 2.4M | 2.1M | $51M |
| DTMDT MIDSTREAM INC | 340K | 350K | 351K | 352K | 354K | 355K | $48M |
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.
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