Recurrent Investment Advisors LLC
Long book
$1.66B
Q1 2026
Positions
67
Top-10 weight
59%
concentration
Last quarter
-2.0%
SPY +14.8%
Turnover
6%
of book per quarter
Strategy in plain words
auto-generated from filingsRecurrent Investment Advisors LLC is a diversified fundamental manager, running a $1.66B US long book across 67 positions.
The portfolio is concentrated: the top 10 names carry 59% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: CENOVUS ENERGY INC, TARGA RESOURCES CORP, ENERGY TRANSFER LP, ONEOK INC, SUNCOR ENERGY INC.
Over the last 9 quarters its long book ran on average 1pp per quarter ahead of the S&P 500, beating the index in 3 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+3.2%
Q2 2024
+3.1%
Q3 2024
+5.9%
Q4 2024
+5.0%
Q1 2025
-1.8%
Q2 2025
+6.4%
Q3 2025
+0.1%
Q4 2025
+30.0%
Q1 2026
-2.0%
Sector allocation
Energy 45%
Utilities 45%
Consumer discretionary 5%
Materials 4%
Other 2%
Industrials 0%
Consumer staples 0%
Long book by quarter
What does Recurrent Investment own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| CVE CENOVUS ENERGY INC | Energy | 5.8M | $159.6M | 9.6% | -8.9% |
| TRGP TARGA RESOURCES CORP | Utilities | 471.8K | $118.3M | 7.1% | -10.7% |
| ET ENERGY TRANSFER LP | Utilities | 5.6M | $107.4M | 6.5% | +3.9% |
| OKE ONEOK INC | Utilities | 1.2M | $104.5M | 6.3% | +0.3% |
| SU SUNCOR ENERGY INC | Energy | 1.5M | $101.9M | 6.1% | -13.9% |
| LNG CHENIERE ENERGY INC | Utilities | 300.1K | $85.1M | 5.1% | +13.5% |
| KMI KINDER MORGAN INC | Utilities | 2.4M | $81.5M | 4.9% | +63.6% |
| PSX PHILLIPS 66 | Energy | 414.1K | $75.4M | 4.5% | -8.9% |
| MUSA MURPHY USA INC | Consumer discretionary | 146.1K | $72.0M | 4.3% | +23.2% |
| PBA PEMBINA PIPELINE CORP | Energy | 1.5M | $67.2M | 4.0% | +0.3% |
| SUN SUNOCO LP | Energy | 1.0M | $66.8M | 4.0% | +51.5% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 1.7M | $63.4M | 3.8% | -1.5% |
| WMB WILLIAMS COS INC | Utilities | 762.9K | $55.5M | 3.3% | +0.3% |
| DTM DT MIDSTREAM INC | Utilities | 355.2K | $47.8M | 2.9% | +0.4% |
| PBF PBF ENERGY INC-CLASS A | Energy | 1.0M | $47.8M | 2.9% | -19.8% |
| WES WESTERN MIDSTREAM PARTNERS L | Utilities | 1.1M | $46.7M | 2.8% | -15.2% |
| VNOM VIPER ENERGY INC-CL A | Energy | 989.3K | $46.5M | 2.8% | +36.9% |
| MPC MARATHON PETROLEUM CORP | Energy | 181.0K | $44.2M | 2.7% | -35.7% |
| SOBO SOUTH BOW CORP | Energy | 1.2M | $38.7M | 2.3% | -15.3% |
| ENB ENBRIDGE INC | Energy | 465.6K | $25.2M | 1.5% | +0.5% |
| DOW DOW INC | Materials | 335.2K | $14.0M | 0.8% | +55.2% |
| WLK WESTLAKE CORP | Other | 112.8K | $13.2M | 0.8% | +49.1% |
| B BARRICK MINING CORP | Materials | 234.8K | $11.4M | 0.7% | +2.2% |
| NEM NEWMONT CORP | Materials | 97.2K | $10.5M | 0.6% | +2.6% |
| LYB LYONDELLBASELL INDU-CL A | Other | 125.5K | $10.1M | 0.6% | +110.5% |
| XOM EXXON MOBIL CORP | Energy | 58.3K | $9.9M | 0.6% | +1.6% |
| CVX CHEVRON CORP | Energy | 43.2K | $8.9M | 0.5% | +0.9% |
| HUN HUNTSMAN CORP | Materials | 535.9K | $7.1M | 0.4% | +117.6% |
| EMN EASTMAN CHEMICAL CO | Materials | 87.1K | $6.7M | 0.4% | +118.8% |
| NTR NUTRIEN LTD | Other | 52.4K | $5.5M | 0.3% | +4.6% |
| MTDR MATADOR RESOURCES CO | Energy | 77.0K | $4.9M | 0.3% | +14.5% |
| COP CONOCOPHILLIPS | Energy | 34.0K | $4.5M | 0.3% | +2.1% |
| FCX FREEPORT-MCMORAN INC | Materials | 52.5K | $3.1M | 0.2% | -40.1% |
| CNQ CANADIAN NATURAL RESOURCES | Energy | 59.2K | $2.9M | 0.2% | Held |
| HAL HALLIBURTON CO | Energy | 73.6K | $2.9M | 0.2% | +1.7% |
| NUE NUCOR CORP | Industrials | 16.6K | $2.8M | 0.2% | +2.5% |
| TECK TECK RESOURCES LTD-CLS B | Materials | 40.4K | $2.6M | 0.2% | +2.8% |
| FANG DIAMONDBACK ENERGY INC | Energy | 11.8K | $2.3M | 0.1% | Held |
| DAR DARLING INGREDIENTS INC | Consumer staples | 27.3K | $1.7M | 0.1% | -9.6% |
| MOS MOSAIC CO/THE | Other | 54.4K | $1.4M | 0.1% | +4.6% |
| TTE TOTALENERGIES SE | Energy | 15.8K | $1.3M | 0.1% | +5.6% |
| ALB ALBEMARLE CORP | Materials | 6.3K | $1.1M | 0.1% | -18.8% |
| EXE EXPAND ENERGY CORP | Energy | 9.7K | $1.1M | 0.1% | Held |
| CF CF INDUSTRIES HOLDINGS INC | Other | 8.2K | $1.1M | 0.1% | +5.2% |
| SW SMURFIT WESTROCK PLC | Other | 26.1K | $1.0M | 0.1% | +113.5% |
| IP INTERNATIONAL PAPER CO | Other | 28.3K | $1.0M | 0.1% | +102.0% |
| AA ALCOA CORP | Industrials | 15.1K | $1.0M | 0.1% | -56.8% |
| CRH CRH PLC | Industrials | 9.4K | $988K | 0.1% | +51.8% |
| SUNC SUNOCOCORP LLC | Energy | 15.4K | $948K | 0.1% | +42.4% |
| CCK CROWN HOLDINGS INC | Industrials | 9.4K | $943K | 0.1% | Held |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 67 | $1.66B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 13, 2026 | 71 | $1.35B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 13, 2025 | 64 | $1.30B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 64 | $1.24B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 65 | $1.18B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 65 | $1.09B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 54 | $1.01B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 51 | $949.9M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 50 | $862.5M | canonical | SEC ↗ |
Similar funds
DIAMANT ASSET MANAGEMENT, INC. LILLY ENDOWMENT INCBROOKFIELD Corp /ON/GQG Partners LLCMITSUBISHI UFJ FINANCIAL GROUP INCNewport Trust Company, LLCVIKING GLOBAL INVESTORS LPPARNASSUS INVESTMENTS, LLC MASTERCARD FOUNDATION ASSET MANAGEMENT CORPPZENA INVESTMENT MANAGEMENT LLCCOATUE MANAGEMENT LLCWinslow Capital Management, LLC