SL ADVISORS, LLC
Long book
$59.1M
Q1 2026
Positions
32
Top-10 weight
75%
concentration
Last quarter
+0.2%
SPY +14.8%
Turnover
0%
of book per quarter
Strategy in plain words
auto-generated from filingsSL ADVISORS, LLC is a concentrated fundamental stock-picker, specialised in utilities (82% of the long book), running a $59.1M US long book across 32 positions.
The portfolio is concentrated: the top 10 names carry 75% of the portfolio. The book barely moves quarter to quarter — a patient, low-turnover holder. Current anchor positions: ENERGY TRANSFER LP, NEXTDECADE CORP, CHENIERE ENERGY INC, WILLIAMS COS INC, PACER AME ENERGY INFR ETF-US.
Over the last 9 quarters its long book ran on average 0.2pp per quarter behind the S&P 500, beating the index in 4 of 9 quarters. We rate its filings highest-signal: new buys here are worth attention.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+7.0%
Q2 2024
+1.8%
Q3 2024
+13.4%
Q4 2024
+3.5%
Q1 2025
-1.9%
Q2 2025
-4.4%
Q3 2025
-4.4%
Q4 2025
+22.8%
Q1 2026
+0.2%
Sector allocation
Utilities 82%
Energy 8%
Financials 3%
Industrials 2%
Other 1%
Consumer staples 1%
Healthcare 1%
Consumer discretionary 1%
Long book by quarter
What does SL ADVISORS, own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| ET ENERGY TRANSFER LP | Utilities | 425.0K | $8.2M | 13.9% | -4.1% |
| NEXT NEXTDECADE CORP | Utilities | 987.0K | $7.6M | 12.8% | +6.9% |
| LNG CHENIERE ENERGY INC | Utilities | 17.5K | $5.0M | 8.4% | -1.4% |
| WMB WILLIAMS COS INC | Utilities | 65.7K | $4.8M | 8.1% | -1.3% |
| TRGP TARGA RESOURCES CORP | Utilities | 17.4K | $4.4M | 7.4% | -2.6% |
| OKE ONEOK INC | Utilities | 39.0K | $3.5M | 6.0% | -1.4% |
| EPD ENTERPRISE PRODUCTS PARTNERS | Utilities | 71.7K | $2.7M | 4.6% | Held |
| BRK/B BERKSHIRE HATHAWAY INC-CL B | Financials | 3.6K | $1.7M | 2.9% | +14.9% |
| KNTK KINETIK HOLDINGS INC | Utilities | 35.2K | $1.7M | 2.9% | -2.8% |
| TRP TC ENERGY CORP | Utilities | 24.7K | $1.5M | 2.6% | -0.4% |
| ENB ENBRIDGE INC | Energy | 28.1K | $1.5M | 2.6% | -0.5% |
| KMI KINDER MORGAN INC | Utilities | 34.9K | $1.2M | 2.0% | -0.9% |
| MPLX MPLX LP | Energy | 17.2K | $983K | 1.7% | Held |
| WES WESTERN MIDSTREAM PARTNERS L | Utilities | 23.6K | $972K | 1.6% | Held |
| PBA PEMBINA PIPELINE CORP | Energy | 20.3K | $908K | 1.5% | Held |
| RSG REPUBLIC SERVICES INC | Utilities | 3.9K | $852K | 1.4% | -1.2% |
| RTX RTX CORP | Industrials | 4.3K | $839K | 1.4% | -7.5% |
| SOBO SOUTH BOW CORP | Energy | 21.3K | $710K | 1.2% | -0.1% |
| WM WASTE MANAGEMENT INC | Utilities | 2.8K | $643K | 1.1% | -1.4% |
| LMT LOCKHEED MARTIN CORP | Industrials | 724 | $438K | 0.7% | -18.0% |
| MCD MCDONALD'S CORP | Consumer discretionary | 1.4K | $427K | 0.7% | -1.5% |
| ECL ECOLAB INC | Other | 1.3K | $338K | 0.6% | -1.7% |
| KO COCA-COLA CO/THE | Consumer staples | 3.5K | $268K | 0.5% | +6.9% |
| JNJ JOHNSON & JOHNSON | Healthcare | 1.1K | $263K | 0.4% | -2.6% |
| ADP AUTOMATIC DATA PROCESSING | Technology | 1.3K | $260K | 0.4% | -36.2% |
| HSY HERSHEY CO/THE | Consumer staples | 1.2K | $250K | 0.4% | -2.4% |
| MRK MERCK & CO. INC. | Healthcare | 2.0K | $240K | 0.4% | Held |
| PG PROCTER & GAMBLE CO/THE | Other | 1.5K | $218K | 0.4% | -2.1% |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | Apr 15, 2026 | 32 | $59.1M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 32 | $48.8M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Jan 8, 2026 | 32 | $48.8M | SEC ↗ | |
| Q3 2025 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 31 | $50.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 20, 2025 | 31 | $50.8M | SEC ↗ | |
| Q2 2025 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 31 | $55.5M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Jul 22, 2025 | 31 | $55.5M | SEC ↗ | |
| Q1 2025 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 32 | $57.2M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | Apr 29, 2025 | 32 | $57.2M | SEC ↗ | |
| Q4 2024 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 35 | $60.5M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Jan 8, 2025 | 35 | $60.5M | SEC ↗ | |
| Q3 2024 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 47 | $55.6M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Oct 8, 2024 | 47 | $55.6M | SEC ↗ | |
| Q2 2024 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 32 | $50.6M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 32 | $50.6M | SEC ↗ | |
| Q1 2024 | 13F-HR/ARESTATEMENT | Apr 15, 2026 | 39 | $50.8M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 13, 2024 | 39 | $50.8M | SEC ↗ |
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