Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (42 quarters reported)
$106M in Q2 2016 → $51.2M now. Hover for any quarter.
As reported for the quarter ended September 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| ET Energy Transfer LP | 17.3% | Trimmed 5.3% | 448,898 | $8.87M |
| Cheniere Energy Inc | 9.0% | Trimmed 1.1% | 17,225 | $4.63M |
| Targa Resources Corp | 9.0% | Trimmed 1.6% | 17,076 | $4.62M |
| Nextdecade | 8.9% | Trimmed 13% | 715,855 | $4.55M |
| Williams Companies | 8.5% | Trimmed 0.6% | 63,791 | $4.34M |
| PA Pacer Amern Energy Independence ETF | 8.1% | Trimmed 0.2% | 95,560 | $4.14M |
| EP Enterprise Prods Part LP | 5.0% | Unchanged | 71,351 | $2.55M |
| Kinetik Holdings | 3.3% | Trimmed 2.9% | 33,972 | $1.71M |
| BH Berkshire Hathaway Class B | 3.1% | Trimmed 2.3% | 3,222 | $1.6M |
| SS SPDR S&P 500 ETF | 2.9% | Unchanged | 1,947 | $1.48M |
| TE Tc Energy Corp F | 2.6% | Trimmed 6.9% | 22,873 | $1.32M |
| EF Enbridge Inc F | 2.5% | Trimmed 3.5% | 26,918 | $1.27M |
| WM Western Midstream Par LP | 2.0% | Unchanged | 23,466 | $1.04M |
| Prairie Operating Co | 1.9% | New | 2,412,500 | $993K |
| Mplx, LP | 1.9% | Unchanged | 17,116 | $964K |
| Kinder Morgan Inc | 1.8% | Trimmed 11% | 30,882 | $931K |
| PP Pembina Pipeline Co F | 1.6% | Trimmed 9.2% | 18,303 | $816K |
| RT Raytheon Technologies Co | 1.4% | Trimmed 4.0% | 3,855 | $716K |
| SB South Bow Corp F | 1.3% | Trimmed 2.2% | 20,754 | $688K |
| Republic Services | 1.0% | Trimmed 14% | 2,510 | $527K |
| Waste Management Inc | 0.9% | Trimmed 6.9% | 2,268 | $462K |
| SF SPDR Fund Consumer Staples ETF | 0.8% | Added 0.0% | 4,864 | $392K |
| PG Plains Gp Hldgs | 0.8% | Trimmed 2.4% | 15,084 | $391K |
| Kinetik Holdings | 0.8% | Trimmed 6.7% | 757 | $386K |
| Ecolab Inc | 0.6% | Trimmed 6.5% | 1,187 | $326K |
| AD Auto Data Processing | 0.5% | Trimmed 8.0% | 1,091 | $282K |
| Merck & Co. Inc. | 0.5% | Trimmed 7.0% | 1,853 | $269K |
| Johnson & Johnson | 0.5% | Trimmed 7.4% | 994 | $263K |
| The Coca-cola Co | 0.5% | Trimmed 5.9% | 3,021 | $260K |
| M Mcdonalds Corp | 0.5% | Trimmed 9.1% | 1,059 | $245K |
| Procter & Gamble | 0.4% | Trimmed 6.0% | 1,419 | $206K |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended September 30, 2026 · filed October 13, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| O Oneok Inc | Exited | −38,114 | −$3.31M | — |
| Prairie Operating Co | New | +2,412,500 | +$993K | 1.9% |
| Nextdecade | Trimmed | −109,523 | −$695K | 8.9% |
| ET Energy Transfer LP | Trimmed | −25,000 | −$494K | 17.3% |
| Hershey Co | Exited | −1,204 | −$211K | — |
| Kinder Morgan Inc | Trimmed | −3,923 | −$118K | 1.8% |
| TE Tc Energy Corp F | Trimmed | −1,689 | −$97.6K | 2.6% |
| Republic Services | Trimmed | −412 | −$86.5K | 1.0% |
| PP Pembina Pipeline Co F | Trimmed | −1,858 | −$82.8K | 1.6% |
| Targa Resources Corp | Trimmed | −270 | −$73K | 9.0% |
Showing the 10 largest of 29 changes.
quarter ended June 30, 2026 · filed July 10, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nextdecade | Trimmed | −161,614 | −$1.22M | 10.9% |
| ET Energy Transfer LP | Added | +48,920 | +$935K | 15.9% |
| Republic Services | Trimmed | −970 | −$207K | 1.1% |
| SS SPDR S&P 500 ETF | Trimmed | −200 | −$149K | 2.5% |
| BH Berkshire Hathaway Class B | Trimmed | −290 | −$145K | 2.9% |
| Williams Companies | Trimmed | −1,533 | −$114K | 8.3% |
| Waste Management Inc | Trimmed | −362 | −$80.7K | 0.9% |
| O Oneok Inc | Trimmed | −881 | −$76.6K | 5.8% |
| RT Raytheon Technologies Co | Trimmed | −331 | −$62.8K | 1.3% |
| M Mcdonalds Corp | Trimmed | −208 | −$56.2K | 0.6% |
Showing the 10 largest of 27 changes.
quarter ended March 31, 2026 · filed April 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Nextdecade | Added | +64,103 | +$491K | 12.8% |
| ET Energy Transfer LP | Trimmed | −18,000 | −$347K | 13.9% |
| Berkshire Hathaway | Added | +464 | +$222K | 2.9% |
| AD Auto Data Processing | Trimmed | −728 | −$148K | 0.4% |
| Targa Resources Corp | Trimmed | −457 | −$115K | 7.4% |
| Kinetik Holdings | Trimmed | −159 | −$96.1K | 0.7% |
| Cheniere Energy Inc | Trimmed | −250 | −$70.9K | 8.4% |
| RT Raytheon Technologies Co | Trimmed | −350 | −$67.5K | 1.4% |
| Williams Companies | Trimmed | −876 | −$63.8K | 8.1% |
| O Oneok Inc | Trimmed | −550 | −$49.7K | 6.0% |
Showing the 10 largest of 24 changes.
quarter ended December 31, 2025 · filed April 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SB South Bow Corp F | New | +21,336 | +$586K | 1.2% |
| Kinetik Holdings | Added | +13,891 | +$501K | 2.7% |
| PA Pacer Amern Energy Independence ETF | Added | +12,430 | +$474K | 7.5% |
| MC Mc Cormick & Co Inc | Exited | −3,323 | −$222K | — |
| Merck & Co Inc | New | +1,992 | +$210K | 0.4% |
| ET Energy Transfer LP | Added | +11,401 | +$188K | 15.0% |
| Williams Companies | Trimmed | −3,036 | −$182K | 8.2% |
| O Oneok Inc | Trimmed | −1,917 | −$141K | 6.0% |
| Cheniere Energy Inc | Trimmed | −679 | −$132K | 7.1% |
| Targa Resources Corp | Trimmed | −557 | −$103K | 6.8% |
Showing the 10 largest of 32 changes.
quarter ended September 30, 2025 · filed April 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| ET Energy Transfer LP | Added | +52,709 | +$904K | 14.6% |
| New Fortress Energy | Exited | −239,399 | −$795K | — |
| PA Pacer Amern Energy Independence ETF | Trimmed | −10,000 | −$398K | 6.5% |
| EF Enbridge Inc F | Trimmed | −7,703 | −$389K | 2.9% |
| O Oneok Inc | Trimmed | −5,271 | −$385K | 6.0% |
| Kinder Morgan Inc | Trimmed | −10,824 | −$306K | 2.0% |
| TE Tc Energy Corp F | Trimmed | −4,198 | −$228K | 2.7% |
| Nextdecade | Trimmed | −32,895 | −$223K | 12.4% |
| Johnson & Johnson | New | +1,093 | +$203K | 0.4% |
| PP Pembina Pipeline Co F | Trimmed | −4,840 | −$196K | 1.7% |
Showing the 10 largest of 31 changes.
quarter ended June 30, 2025 · filed April 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Waste Management Inc | Trimmed | −4,702 | −$1.08M | 1.2% |
| BH Berkshire Hathaway Class B | Trimmed | −1,670 | −$811K | 2.7% |
| Nextdecade | Added | +86,500 | +$771K | 15.4% |
| RT Raytheon Technologies Co | New | +4,702 | +$687K | 1.2% |
| New Fortress Energy | Added | +73,600 | +$244K | 1.4% |
| Johnson & Johnson | Exited | −1,392 | −$231K | — |
| Hershey Co | Trimmed | −334 | −$55.4K | 0.4% |
| Targa Resources Corp | Trimmed | −210 | −$36.6K | 5.8% |
| PP Pembina Pipeline Co F | Trimmed | −750 | −$28.1K | 1.7% |
| Kinetik Holdings | Trimmed | −47 | −$21.8K | 1.0% |
Showing the 10 largest of 14 changes.
quarter ended March 31, 2025 · filed April 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| SS SPDR S&P 500 ETF | Trimmed | −7,825 | −$4.38M | 2.1% |
| Targa Resources Corp | Trimmed | −5,105 | −$1.02M | 6.5% |
| EM Enlink Midstream L L LP | Exited | −67,260 | −$952K | — |
| O Oneok Inc | Added | +9,328 | +$926K | 8.1% |
| New Fortress Energy | Added | +99,656 | +$828K | 2.4% |
| Waste Management Inc | Added | +4,593 | +$786K | 2.3% |
| Pepsico Inc | Exited | −1,489 | −$226K | — |
| RB Restaurant Brands F | Exited | −3,242 | −$211K | — |
| Merck & Co. Inc. | Exited | −2,105 | −$209K | — |
| Nextdecade | Added | +20,250 | +$158K | 11.9% |
Showing the 10 largest of 27 changes.
quarter ended December 31, 2024 · filed April 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| New Fortress Energy | New | +66,143 | +$1M | 1.7% |
| RT Raytheon Technologies Co | Exited | −4,921 | −$596K | — |
| CE Catalyst Energy Infrastructure I | Exited | −13,858 | −$351K | — |
| Nextdecade | Added | +30,000 | +$231K | 10.9% |
| Keurig Dr Pepper Inc | Exited | −5,190 | −$195K | — |
| Colgate-palmolive Co | Exited | −1,829 | −$190K | — |
| Clorox Co | Exited | −1,152 | −$188K | — |
| UP Unilever PLC Fsponsored ADR 1 ADR Reps 1 Ord Shs | Exited | −2,590 | −$168K | — |
| Northrop Grumman Co | Exited | −308 | −$163K | — |
| Kraft Heinz Co | Exited | −4,465 | −$157K | — |
Showing the 10 largest of 39 changes.
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