Managers / Q1 2026
Heronetta Management, L.P.
CIK 0001588225 · 654 MADISON AVENUE, SUITE 1505, NEW YORK, NY, 10065 · (212) 601-5333
Summary
Heronetta Management, L.P. reported $110M in U.S.-listed holdings across 16 positions for Q1 2026.
Its largest position, EPD, represents 17.1% of the portfolio.
Compared with Q4 2025, the fund opened 0 new positions and exited 9.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- MLP · 56.1% · $62M
- Common Stock · 43.9% · $48M
Quarter-over-Quarter Changes full breakdown →
vs Q4 2025 (amended baseline)
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| CPCANADIAN PACIFIC KANSAS CITY | SOLD OUT | −89.3K | 0 | −$9M | $0 |
| CRCCANADIAN NAT RES LTD | SOLD OUT | −193.6K | 0 | −$9M | $0 |
| SUSUNCOR ENERGY INC NEW | SOLD OUT | −132.0K | 0 | −$8M | $0 |
| CNRCANADIAN NATL RY CO | SOLD OUT | −53.4K | 0 | −$7M | $0 |
| FTSFORTIS INC | SOLD OUT | −86.0K | 0 | −$6M | $0 |
| EMAEMERA INC | SOLD OUT | −66.5K | 0 | −$4M | $0 |
| TACTRANSALTA CORP | SOLD OUT | −122.0K | 0 | −$2M | $0 |
| SOBOSOUTH BOW CORP | SOLD OUT | −46.5K | 0 | −$2M | $0 |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2026
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | EPDENTERPRISE PRODS PARTNERS Lhistory → | COM | 17.10% | $19M | 495.0K |
| 2 | MPLXMPLX LPhistory → | COM UNIT REP LTD | 16.88% | $18M | 324.0K |
| 3 | WMBWILLIAMS COS INChistory → | COM | 16.70% | $18M | 251.4K |
| 4 | ETENERGY TRANSFER L Phistory → | COM UT LTD PTN | 14.08% | $15M | 799.2K |
| 5 | OKEONEOK INC NEWhistory → | COM | 11.62% | $13M | 140.8K |
| 6 | WESWESTERN MIDSTREAM PARTNERS Lhistory → | COM UNIT LP INT | 7.75% | $8M | 206.4K |
| 7 | PAGPEURPLAINS GP HLDGS L Phistory → | LTD PARTNR INT A | 4.01% | $4M | 181.0K |
| 8 | HESMHESS MIDSTREAM LPhistory → | CL A SHS | 3.28% | $4M | 92.5K |
| 9 | KMIKINDER MORGAN INC DELhistory → | COM | 2.72% | $3M | 88.7K |
| 10 | TRGPTARGA RES CORPhistory → | COM | 2.37% | $3M | 10.3K |
| 11 | ENBENBRIDGE INC | COM | 0.77% | $839,549 | 15.5K |
| 12 | PPLPEMBINA PIPELINE CORP | COM | 0.72% | $792,162 | 17.7K |
| 13 | TRPTC ENERGY CORP | COM | 0.68% | $739,682 | 11.8K |
| 14 | LNGCHENIERE ENERGY INC | COM NEW | 0.65% | $708,549 | 2.5K |
| 15 | AMANTERO MIDSTREAM CORP | COM | 0.35% | $385,548 | 16.9K |
| 16 | CQPCHENIERE ENERGY PARTNERS L P | COM UNIT | 0.34% | $375,500 | 5.8K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $110M | 16 | May 1, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $173M | 25 | Feb 4, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $183M | 25 | Nov 12, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $180M | 25 | Aug 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $183M | 24 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $175M | 24 | Feb 6, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $164M | 23 | Oct 31, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $156M | 23 | Jul 30, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $155M | 23 | May 1, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $141M | 23 | Jan 25, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $136M | 23 | Nov 2, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $137M | 24 | Aug 9, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $136M | 24 | May 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $159M | 27 | Feb 10, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $139M | 24 | Oct 27, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q2 2022 | $143M | 24 | Aug 5, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $155M | 25 | Apr 29, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $132M | 25 | Feb 3, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $130M | 24 | Oct 27, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $114M | 24 | Aug 4, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $120M | 24 | Apr 29, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q4 2020 | $120M | 25 | Feb 10, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q3 2020 | $97M | 25 | Nov 10, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q2 2020 | $106M | 24 | Jul 24, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q1 2020 | $84M | 23 | May 8, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q4 2019 | $154M | 25 | Jan 31, 2020 | 13F-HR | changes · EDGAR ↗ |
| Q3 2019 | $155M | 27 | Nov 8, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q2 2019 | $165M | 27 | Aug 13, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q1 2019 | $180M | 28 | Apr 30, 2019 | 13F-HR | changes · EDGAR ↗ |
| Q4 2018 | $154M | 29 | Feb 12, 2019 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.