Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (27 quarters reported)
$78.4M in Q4 2019 → $1.61B 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 |
|---|---|---|---|---|
| TR Targa Res Corp | 7.8% | Trimmed 0.2% | 470,637 | $126M |
| CE Cenovus Energy Inc | 7.6% | Trimmed 18% | 4,739,325 | $123M |
| ET Energy Transfer L P | 7.0% | Added 6.7% | 5,935,394 | $113M |
| ON Oneok Inc New | 6.3% | Added 0.3% | 1,159,957 | $101M |
| KM Kinder Morgan Inc Del | 5.1% | Added 6.1% | 2,578,529 | $82.4M |
| Murphy Usa Inc | 4.9% | Added 0.1% | 146,263 | $78.6M |
| SL Sunoco Lp/sunoco Fin Corp | 4.8% | Added 12% | 1,149,434 | $77.6M |
| EP Enterprise Prods Partners L | 4.6% | Added 21% | 2,031,416 | $74.7M |
| Cheniere Energy Inc | 4.5% | Added 0.4% | 301,353 | $72M |
| Pembina Pipeline Corp | 4.3% | Added 0.3% | 1,498,252 | $69.6M |
| Phillips 66 | 4.2% | Trimmed 2.7% | 403,016 | $68.1M |
| SE Suncor Energy Inc New | 3.9% | Trimmed 24% | 1,145,921 | $62.7M |
| WC Williams Cos Inc | 3.5% | Unchanged | 762,867 | $56.7M |
| Dt Midstream Inc | 3.2% | Trimmed 0.0% | 355,154 | $52.1M |
| WM Western Midstream Partners L | 3.1% | Trimmed 0.1% | 1,133,291 | $49.6M |
| Enbridge Inc | 3.0% | Added 90% | 882,892 | $47.9M |
| PG Plains Gp Hldgs L P | 2.7% | Trimmed 16% | 1,791,325 | $43.6M |
| South Bow Corp | 2.5% | Trimmed 0.2% | 1,158,738 | $40.8M |
| Pbf Energy Inc | 2.1% | Trimmed 27% | 729,534 | $33.2M |
| Mplx LP | 1.9% | New | 544,714 | $30.7M |
| Venture Global Inc | 1.4% | New | 2,025,792 | $22.5M |
| MP Marathon Pete Corp | 1.4% | Trimmed 53% | 85,799 | $21.9M |
| Viper Energy Inc | 1.2% | Trimmed 53% | 468,061 | $19.8M |
| BM Barrick Mng Corp | 0.6% | Added 0.0% | 234,844 | $10.3M |
| DH Dow Hldgs Inc | 0.6% | Added 9.1% | 365,815 | $10M |
| Westlake Corporation | 0.6% | Added 14% | 128,771 | $9.4M |
| EC Eastman Chem Co | 0.6% | Added 56% | 135,851 | $9.1M |
| Newmont Corp | 0.6% | Unchanged | 97,245 | $9.08M |
| Huntsman Corp | 0.5% | Added 48% | 792,476 | $8.42M |
| Exxon Mobil Corp | 0.5% | Added 0.0% | 58,314 | $7.97M |
| LI Lyondellbasell Industries Nv | 0.5% | Added 15% | 144,709 | $7.62M |
| Chevron Corporation | 0.4% | Added 0.0% | 43,165 | $7.16M |
| Nutrien Ltd | 0.3% | Trimmed 0.0% | 52,357 | $4.67M |
| Kinross Gold Corp | 0.2% | New | 147,739 | $3.93M |
| MR Matador Res Co | 0.2% | Added 0.1% | 77,047 | $3.84M |
| Nucor Corp | 0.2% | Added 0.0% | 16,621 | $3.7M |
| Conocophillips | 0.2% | Unchanged | 33,972 | $3.53M |
| Freeport Mcmoran Inc | 0.2% | Trimmed 0.1% | 52,486 | $3.3M |
| Teck Resources Ltd | 0.2% | Unchanged | 40,394 | $3.05M |
| VS Vale S A | 0.2% | Added 0.0% | 196,192 | $2.95M |
| Rio Tinto PLC | 0.2% | Trimmed 0.0% | 27,245 | $2.59M |
| Halliburton Co | 0.2% | Added 0.0% | 73,663 | $2.5M |
| CN Canadian Nat Res Ltd Med Ter | 0.1% | Unchanged | 59,242 | $2.34M |
| BB Bhp Billiton Limited | 0.1% | Trimmed 0.0% | 27,262 | $2.27M |
| Diamondback Energy Inc | 0.1% | Unchanged | 11,756 | $2.07M |
| Sunococorp LLC | 0.1% | Added 70% | 26,080 | $1.76M |
| Shell PLC | 0.1% | Added 0.8% | 56,587 | $1.66M |
| Darling Ingredients Inc | 0.1% | Unchanged | 27,265 | $1.49M |
| Crh PLC | 0.1% | Added 44% | 13,549 | $1.45M |
| Expand Energy Corporation | 0.1% | Added 61% | 15,646 | $1.43M |
| Smurfit Westrock PLC | 0.1% | Unchanged | 26,095 | $1.21M |
| Mosaic Co | 0.1% | Added 0.2% | 54,542 | $1.16M |
| International Paper Co | 0.1% | Added 0.2% | 28,324 | $1.08M |
| Totalenergies Se | 0.1% | Unchanged | 15,824 | $1.08M |
| CH Crown Hldgs Inc | 0.1% | Unchanged | 9,406 | $1.05M |
| Tc Energy Corp | 0.1% | Unchanged | 14,455 | $958K |
| CI Cf Industries Hold | 0.1% | Unchanged | 8,163 | $884K |
| AS Arcelormittal Sa Luxembourg | 0.1% | Trimmed 0.2% | 15,371 | $810K |
| Alcoa Corp | 0.0% | Trimmed 0.2% | 15,100 | $787K |
| Cameco Corp | 0.0% | Unchanged | 6,757 | $688K |
Showing top 60 of 71 positions.
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Mplx LP | New | +544,714 | +$30.7M | 1.9% |
| CE Cenovus Energy Inc | Trimmed | −1,060,316 | −$27.4M | 7.6% |
| MP Marathon Pete Corp | Trimmed | −95,159 | −$24.3M | 1.4% |
| Enbridge Inc | Added | +417,273 | +$22.6M | 3.0% |
| Venture Global Inc | New | +2,025,792 | +$22.5M | 1.4% |
| Viper Energy Inc | Trimmed | −521,257 | −$22.1M | 1.2% |
| SE Suncor Energy Inc New | Trimmed | −369,240 | −$20.2M | 3.9% |
| EP Enterprise Prods Partners L | Added | +355,933 | +$13.1M | 4.6% |
| Pbf Energy Inc | Trimmed | −273,381 | −$12.4M | 2.1% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +121,557 | +$8.21M | 4.8% |
Showing the 10 largest of 53 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Keycorp | Exited | −1,920,957 | −$84.5M | — |
| KM Kinder Morgan Inc Del | Added | +944,971 | +$31.7M | 4.9% |
| MP Marathon Pete Corp | Trimmed | −100,673 | −$24.6M | 2.7% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +349,254 | +$22.7M | 4.0% |
| SE Suncor Energy Inc New | Trimmed | −245,227 | −$16.5M | 6.1% |
| CE Cenovus Energy Inc | Trimmed | −563,875 | −$15.5M | 9.6% |
| TR Targa Res Corp | Trimmed | −56,745 | −$14.2M | 7.1% |
| Murphy Usa Inc | Added | +27,513 | +$13.6M | 4.3% |
| Viper Energy Inc | Added | +266,703 | +$12.5M | 2.8% |
| Pbf Energy Inc | Trimmed | −248,000 | −$11.8M | 2.9% |
Showing the 10 largest of 62 changes.
quarter ended December 31, 2025 · filed February 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Keycorp | New | +1,920,957 | +$84.5M | 6.2% |
| AR Alliance Resource Partners L | Exited | −647,283 | −$16.4M | — |
| Viper Energy Inc | Added | +376,598 | +$14.5M | 2.1% |
| Pbf Energy Inc | Trimmed | −521,191 | −$14.1M | 2.5% |
| SL Sunoco Lp/sunoco Fin Corp | Trimmed | −255,514 | −$13.4M | 2.6% |
| Tc Energy Corp | Trimmed | −214,556 | −$11.8M | 0.1% |
| Pembina Pipeline Corp | Trimmed | −208,940 | −$7.99M | 4.2% |
| Murphy Usa Inc | Added | +17,664 | +$7.11M | 3.5% |
| South Bow Corp | Trimmed | −235,329 | −$6.49M | 2.8% |
| ET Energy Transfer L P | Added | +364,412 | +$6.01M | 6.5% |
Showing the 10 largest of 63 changes.
quarter ended September 30, 2025 · filed November 13, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Murphy Usa Inc | Added | +98,952 | +$38.4M | 3.0% |
| Valero Energy Corp | Trimmed | −168,395 | −$28.7M | 0.1% |
| Pbf Energy Inc | Trimmed | −615,718 | −$18.6M | 4.1% |
| Viper Energy Inc | New | +346,017 | +$13.2M | 1.0% |
| Viper Energy Inc | Exited | −345,748 | −$13.2M | — |
| ON Oneok Inc New | Added | +166,638 | +$12.2M | 6.2% |
| TR Targa Res Corp | Added | +71,123 | +$11.9M | 6.5% |
| Cheniere Energy Inc | Trimmed | −42,822 | −$10.1M | 4.8% |
| Pembina Pipeline Corp | Trimmed | −152,081 | −$6.18M | 5.3% |
| PG Plains Gp Hldgs L P | Trimmed | −271,183 | −$4.95M | 3.4% |
Showing the 10 largest of 41 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| South Bow Corp | New | +1,604,864 | +$41.7M | 3.4% |
| ON Oneok Inc New | Added | +271,409 | +$22.2M | 6.3% |
| Pbf Energy Inc | Added | +924,209 | +$20M | 4.2% |
| CE Cenovus Energy Inc | Added | +1,403,929 | +$19.6M | 7.1% |
| AR Alliance Resource Partners L | Trimmed | −663,045 | −$17.3M | 1.4% |
| MP Marathon Pete Corp | Added | +96,152 | +$16M | 3.8% |
| Cheniere Energy Inc | Trimmed | −61,184 | −$14.9M | 6.1% |
| TR Targa Res Corp | Added | +78,182 | +$13.6M | 6.1% |
| KM Kinder Morgan Inc Del | Trimmed | −401,072 | −$11.8M | 3.5% |
| Phillips 66 | Added | +51,366 | +$6.13M | 4.5% |
Showing the 10 largest of 59 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Pembina Pipeline Corp | Added | +360,343 | +$14.5M | 6.7% |
| Pbf Energy Inc | Added | +518,376 | +$9.9M | 2.4% |
| AR Alliance Resource Partners L | Added | +168,830 | +$4.61M | 3.1% |
| EP Enterprise Prods Partners L | Trimmed | −121,926 | −$4.16M | 5.0% |
| CE Cenovus Energy Inc | Added | +267,109 | +$3.86M | 6.0% |
| Phillips 66 | Added | +22,275 | +$2.75M | 4.3% |
| SE Suncor Energy Inc New | Added | +67,635 | +$2.66M | 6.0% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +44,000 | +$2.55M | 4.6% |
| ON Oneok Inc New | Added | +18,545 | +$1.84M | 5.7% |
| BG Barrick Gold Corp | Added | +77,267 | +$1.83M | 0.4% |
Showing the 10 largest of 61 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eqt Corp | Exited | −579,093 | −$21.2M | — |
| Pbf Energy Inc | Added | +573,161 | +$15.2M | 2.3% |
| CE Cenovus Energy Inc | Added | +529,700 | +$8.34M | 6.7% |
| Viper Energy Inc | Trimmed | −159,757 | −$7.84M | 1.6% |
| EP Enterprise Prods Partners L | Added | +236,470 | +$7.42M | 5.3% |
| Exxon Mobil Corp | Added | +41,376 | +$4.45M | 0.5% |
| MP Marathon Pete Corp | Added | +23,878 | +$3.33M | 2.2% |
| CN Chevron Corp New | New | +21,153 | +$3.06M | 0.3% |
| ET Energy Transfer L P | Added | +139,588 | +$2.73M | 8.5% |
| SE Suncor Energy Inc New | Added | +64,454 | +$2.34M | 5.7% |
Showing the 10 largest of 68 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| EM Equitrans Midstream Corp | Exited | −1,687,238 | −$21.9M | — |
| Eqt Corp | New | +579,093 | +$21.2M | 2.1% |
| Viper Energy Inc | Trimmed | −308,416 | −$13.9M | 2.3% |
| Pbf Energy Inc | New | +372,078 | +$11.5M | 1.1% |
| SL Sunoco Lp/sunoco Fin Corp | Added | +195,583 | +$10.5M | 4.6% |
| CE Cenovus Energy Inc | Added | +426,002 | +$7.25M | 6.9% |
| SE Suncor Energy Inc New | Added | +192,488 | +$7.21M | 6.2% |
| Phillips 66 | Added | +43,417 | +$5.71M | 4.9% |
| ET Energy Transfer L P | Added | +339,609 | +$5.45M | 7.3% |
| Teck Resources Ltd | Trimmed | −44,786 | −$3.15M | 0.3% |
Showing the 10 largest of 55 changes.
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