Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (53 quarters reported)
$8.08B in Q2 2013 → $21.3B now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| ET Energy Transfer L P | 7.8% | Added 1.1% | 86,904,208 | $1.66B |
| SL Sunoco Lp/sunoco Fin Corp | 7.7% | Trimmed 1.0% | 24,435,476 | $1.65B |
| Mplx LP | 7.6% | Added 5.7% | 28,601,592 | $1.61B |
| EP Enterprise Prods Partners L | 7.5% | Added 0.3% | 43,655,056 | $1.6B |
| WM Western Midstream Partners L | 7.5% | Trimmed 5.2% | 36,629,600 | $1.6B |
| PA Plains All Amern Pipeline L | 7.4% | Trimmed 3.6% | 70,510,853 | $1.57B |
| Hess Midstream LP | 5.2% | Trimmed 5.3% | 29,254,074 | $1.1B |
| Cheniere Energy Partners L P | 2.6% | Trimmed 4.3% | 9,104,161 | $555M |
| Usa Compression Partners LP | 2.3% | Trimmed 4.3% | 18,253,585 | $482M |
| Cameco Corp | 1.7% | Trimmed 18% | 3,547,289 | $361M |
| GE Genesis Energy L P | 1.7% | Trimmed 4.2% | 24,840,174 | $352M |
| WI Waterbridge Infrastructure L | 1.6% | New | 9,851,493 | $338M |
| Global Partners LP | 1.3% | Trimmed 3.3% | 5,844,099 | $272M |
| SP Suburban Propane Partners L | 1.2% | Trimmed 4.3% | 14,720,155 | $252M |
| Nexgen Energy Ltd | 1.1% | Added 0.7% | 24,670,482 | $232M |
| Delek Logistics Partners LP | 1.1% | Trimmed 4.2% | 4,384,141 | $226M |
| VI Vanguard Index Fds | 0.8% | Trimmed 6.9% | 462,607 | $171M |
| First Majestic Silver Corp | 0.7% | Trimmed 11% | 9,207,971 | $156M |
| Denison Mines Corp | 0.7% | Added 6.1% | 48,826,954 | $149M |
| IT Ishares Tr | 0.7% | Added 4.5% | 188,524 | $141M |
| Energy Fuels Inc | 0.7% | Added 17% | 9,710,888 | $141M |
| Freeport Mcmoran Inc | 0.5% | Added 9.5% | 1,769,625 | $111M |
| SA Sprott Asset Management LP | 0.5% | Trimmed 6.1% | 5,777,206 | $109M |
| Uranium Energy Corp | 0.5% | Added 3.7% | 9,829,329 | $105M |
| Alphabet Inc | 0.4% | Added 61% | 247,265 | $88.4M |
| Ur-energy Inc | 0.3% | Added 9.1% | 53,342,805 | $72.5M |
| MS Morgan Stanley ETF Trust | 0.3% | Added 36% | 1,381,250 | $70M |
| SS Schwab Strategic Tr | 0.3% | Added 11% | 1,308,474 | $69M |
| VT Vanguard Tax-managed Fds | 0.3% | Trimmed 20% | 931,616 | $66.4M |
| KM Kinder Morgan Inc Del | 0.3% | Added 14% | 1,970,735 | $63M |
| Oneok Inc New | 0.3% | Added 2.9% | 688,220 | $59.8M |
| Merck & Co Inc | 0.3% | Added 5.8% | 452,664 | $58.2M |
| IT Ishares Tr | 0.3% | Added 17% | 153,517 | $56.2M |
| Johnson & Johnson | 0.3% | Added 16% | 211,287 | $53.7M |
| Apple Inc | 0.2% | Added 9.7% | 183,383 | $53.1M |
| N Newmont Corp | 0.2% | Trimmed 6.1% | 538,710 | $50.3M |
| Teck Resources Ltd | 0.2% | Added 2.6% | 818,733 | $48.7M |
| TI Texas Instrs Inc | 0.2% | Trimmed 24% | 160,886 | $48M |
| VI Vanguard Index Fds | 0.2% | Trimmed 0.8% | 152,155 | $46.1M |
| Microsoft Corp | 0.2% | Added 6.3% | 120,652 | $45M |
| WC Williams Cos Inc | 0.2% | Added 14% | 592,053 | $44M |
| CN Comcast Corp New | 0.2% | Added 17% | 1,760,394 | $43.2M |
| CM Coeur Mng Inc | 0.2% | Added 20% | 2,629,420 | $42.9M |
| Visa Inc | 0.2% | Added 4.4% | 121,761 | $41.8M |
| JP J P Morgan Exchange Traded F | 0.2% | Added 134% | 876,310 | $41.1M |
| Endeavour Silver Corp | 0.2% | Trimmed 7.8% | 4,657,672 | $38.6M |
| Mastercard Incorporated | 0.2% | Added 4.7% | 73,117 | $37.6M |
| Abbvie Inc | 0.2% | Added 14% | 146,723 | $36.9M |
| Wheaton Precious Metals Corp | 0.2% | Added 0.2% | 322,149 | $36.2M |
| Altria Group Inc | 0.2% | Added 4.4% | 499,193 | $35.9M |
| I Ishares Inc | 0.2% | Added 32% | 346,465 | $35.4M |
| TR Targa Res Corp | 0.2% | Added 1.1% | 129,928 | $34.8M |
| Dt Midstream Inc | 0.2% | Added 4.8% | 236,460 | $34.7M |
| Cheniere Energy Inc | 0.2% | Added 20% | 144,604 | $34.6M |
| Albemarle Corp | 0.2% | Added 11% | 254,751 | $34.4M |
| CS Cisco Sys Inc | 0.2% | Trimmed 5.4% | 291,854 | $34.3M |
| Chevron Corporation | 0.2% | Added 54% | 206,164 | $34.2M |
| AP Accenture PLC Ireland | 0.2% | Added 9.7% | 274,364 | $34.1M |
| MM Mp Materials Corp | 0.2% | Added 59% | 605,838 | $33.9M |
| Home Depot Inc | 0.2% | Added 6.4% | 96,050 | $33.9M |
Showing top 60 of 1170 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed July 29, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| WI Waterbridge Infrastructure L | New | +9,851,493 | +$338M | 1.6% |
| WM Western Midstream Partners L | Trimmed | −2,007,754 | −$87.9M | 7.5% |
| Mplx LP | Added | +1,530,630 | +$86.2M | 7.6% |
| Cameco Corp | Trimmed | −792,613 | −$80.7M | 1.7% |
| SS Select Sector SPDR Tr | Exited | −1,232,826 | −$61.6M | — |
| Hess Midstream LP | Trimmed | −1,626,119 | −$61.1M | 5.2% |
| SS Select Sector SPDR Tr | Exited | −976,586 | −$59.8M | — |
| SS Select Sector SPDR Tr | Exited | −1,297,165 | −$59.5M | — |
| SS Select Sector SPDR Tr | Exited | −537,572 | −$58.6M | — |
| SS Select Sector SPDR Tr | Exited | −398,570 | −$58.4M | — |
Showing the 10 largest of 1227 changes.
quarter ended March 31, 2026 · filed May 08, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mplx LP | Added | +26,641,396 | +$1.52B | 7.3% |
| WM Western Midstream Partners L | Added | +3,562,997 | +$147M | 7.5% |
| Nexgen Energy Ltd | Added | +10,422,302 | +$121M | 1.3% |
| Uranium Energy Corp | Trimmed | −7,987,500 | −$108M | 0.6% |
| PA Plains All Amern Pipeline L | Trimmed | −2,944,519 | −$65.8M | 7.7% |
| MS Morgan Stanley ETF Trust | New | +1,017,240 | +$51.6M | 0.2% |
| Freeport Mcmoran Inc | Added | +849,726 | +$49.9M | 0.4% |
| Cameco Corp | Added | +391,303 | +$42.5M | 2.2% |
| ET Energy Transfer L P | Added | +2,114,492 | +$40.8M | 7.8% |
| Usa Compression Partners LP | Added | +1,324,213 | +$35.9M | 2.4% |
Showing the 10 largest of 1146 changes.
quarter ended December 31, 2025 · filed February 12, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mplx LP | Trimmed | −25,980,088 | −$1.39B | 0.1% |
| ET Energy Transfer L P | Added | +6,192,066 | +$102M | 8.1% |
| Energy Fuels Inc | Trimmed | −5,084,797 | −$73.9M | 0.7% |
| Mcdonalds Corp | Exited | −184,083 | −$55.9M | — |
| SA Sprott Asset Management LP | Added | +2,334,928 | +$55.2M | 0.7% |
| Mastercard Incorporated | Exited | −74,885 | −$42.6M | — |
| First Majestic Silver Corp | Added | +2,418,513 | +$40.3M | 0.9% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +766,781 | +$40.2M | 7.6% |
| N Newmont Corp | Trimmed | −397,967 | −$39.7M | 0.3% |
| Hess Midstream LP | Added | +1,007,846 | +$34.8M | 6.1% |
Showing the 10 largest of 1050 changes.
quarter ended September 30, 2025 · filed November 05, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ET Energy Transfer L P | Added | +3,366,734 | +$57.8M | 7.4% |
| First Majestic Silver Corp | Added | +3,751,376 | +$46.1M | 0.5% |
| Energy Fuels Inc | Trimmed | −2,464,035 | −$37.8M | 1.2% |
| Usa Compression Partners LP | Added | +1,500,640 | +$36M | 2.3% |
| Cameco Corp | Trimmed | −408,457 | −$34.3M | 1.8% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +599,655 | +$30M | 6.7% |
| N Newmont Corp | Trimmed | −349,427 | −$29.5M | 0.5% |
| PA Plains All Amern Pipeline L | Added | +1,663,908 | +$28.4M | 7.2% |
| SA Sprott Asset Management LP | Added | +1,657,153 | +$26M | 0.3% |
| LI Lyondellbasell Industries N | Exited | −391,017 | −$22.6M | — |
Showing the 10 largest of 1130 changes.
quarter ended June 30, 2025 · filed August 11, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hess Midstream LP | Added | +2,600,295 | +$100M | 6.4% |
| PA Plains All Amern Pipeline L | Added | +5,425,560 | +$99.4M | 7.9% |
| EP Enterprise Prods Partners L | Added | +1,337,043 | +$41.5M | 7.6% |
| WM Western Midstream Partners L | Added | +851,420 | +$32.9M | 7.7% |
| SS Schwab Strategic Tr | Exited | −1,385,646 | −$32.7M | — |
| IT Ishares Tr | Added | +45,335 | +$28.1M | 0.6% |
| First Majestic Silver Corp | Added | +3,162,588 | +$26.2M | 0.2% |
| VI Vanguard Index Fds | Added | +96,750 | +$22.9M | 0.2% |
| Cameco Corp | Trimmed | −275,222 | −$20.4M | 1.8% |
| ET Energy Transfer L P | Trimmed | −1,069,707 | −$19.4M | 7.8% |
Showing the 10 largest of 1064 changes.
quarter ended March 31, 2025 · filed April 30, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Enlink Midstream LLC | Exited | −49,921,773 | −$706M | — |
| Hess Midstream LP | Added | +6,251,664 | +$264M | 6.5% |
| ET Energy Transfer L P | Added | +8,613,645 | +$160M | 8.1% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +2,529,170 | +$147M | 7.8% |
| WM Western Midstream Partners L | Added | +2,400,891 | +$98.3M | 8.0% |
| CE Cheniere Energy Partners LP | Added | +1,283,564 | +$84.8M | 3.5% |
| Usa Compression Partners LP | Added | +2,490,895 | +$67.2M | 2.5% |
| EP Enterprise Prods Partners L | Added | +1,967,188 | +$67.2M | 8.2% |
| GE Genesis Energy L P | Added | +3,422,967 | +$53.7M | 2.2% |
| Delek Logistics Partners LP | Added | +1,028,497 | +$44.5M | 1.1% |
Showing the 10 largest of 1138 changes.
quarter ended December 31, 2024 · filed February 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Hess Midstream LP | Added | +3,695,817 | +$137M | 4.7% |
| WM Western Midstream Partners L | Added | +3,052,413 | +$117M | 7.6% |
| PA Plains All Amern Pipeline L | Added | +6,174,229 | +$105M | 7.4% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +1,469,786 | +$75.6M | 6.7% |
| ET Energy Transfer L P | Trimmed | −3,396,806 | −$66.5M | 8.3% |
| Delek Logistics Partners LP | Added | +1,032,570 | +$43.6M | 0.9% |
| Enlink Midstream LLC | Added | +2,989,797 | +$42.3M | 4.5% |
| EP Enterprise Prods Partners L | Added | +1,309,715 | +$41.1M | 7.8% |
| CE Cheniere Energy Partners LP | Added | +551,642 | +$29.3M | 2.6% |
| Cummins Inc | Trimmed | −79,723 | −$27.8M | — |
Showing the 10 largest of 836 changes.
quarter ended September 30, 2024 · filed November 12, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Enlink Midstream LLC | Added | +3,514,574 | +$51M | 4.6% |
| Jpmorgan Chase & Co. | Trimmed | −151,996 | −$32M | — |
| Alphabet Inc | Added | +188,731 | +$31.3M | 0.3% |
| Verizon Communications Inc | Trimmed | −653,580 | −$29.4M | 0.2% |
| Cameco Corp | Trimmed | −599,775 | −$28.6M | 1.7% |
| Merck & Co Inc | Added | +226,217 | +$25.7M | 0.3% |
| LI Lyondellbasell Industries N | New | +258,651 | +$24.8M | 0.2% |
| Mplx LP | Trimmed | −539,652 | −$24M | 7.6% |
| Johnson & Johnson | Added | +132,189 | +$21.4M | 0.2% |
| Eli Lilly & Co | Trimmed | −22,953 | −$20.3M | 0.1% |
Showing the 10 largest of 1166 changes.
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