SEC 13F Intelligence

Managers / Q1 2022 · view latest →

Recurrent Investment Advisors LLC

CIK 0001803146 · 3801 KIRBY DRIVE, SUITE 654, HOUSTON, TX, 77098-4100 · (831) 241-5902

Reported Value
$315M
Q1 2022
Positions
40
Filings on Record
26
2019–present window
Filed
May 16, 2022
original filing

Summary

Recurrent Investment Advisors LLC reported $315M in U.S.-listed holdings across 40 positions for Q1 2022.

Its largest position, CVE, represents 8.5% of the portfolio.

Compared with Q4 2021, the fund opened 0 new positions and exited 2.

Portfolio Metrics

Turnover
+1.5%
vs prior filed quarter
Top-10 Concentration
+59.6%
share of reported value
Largest Position
+8.5%
Cenovus Energy

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

13F Reported Value
Q4 ’19: $78MQ4 ’19Q1 ’20: $53MQ2 ’20: $106MQ3 ’20: $94MQ4 ’20: $135MQ4 ’20Q1 ’21: $158MQ2 ’21: $198MQ3 ’21: $228MQ4 ’21: $248MQ4 ’21Q1 ’22: $315MQ2 ’22: $330MQ3 ’22: $371MQ4 ’22: $469MQ4 ’22Q1 ’23: $506MQ2 ’23: $591MQ3 ’23: $681MQ4 ’23: $682MQ4 ’23Q1 ’24: $863MQ2 ’24: $950MQ3 ’24: $1.0BQ4 ’24: $1.1BQ4 ’24Q1 ’25: $1.2BQ2 ’25: $1.2BQ3 ’25: $1.3BQ4 ’25: $1.4BQ4 ’25Q1 ’26: $1.7Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 68.6%MLP: 23.3%Other: 6.0%ADR: 1.9%REIT: 0.3%
  • Common Stock · 68.6% · $216M
  • MLP · 23.3% · $73M
  • Other · 6.0% · $19M
  • ADR · 1.9% · $6M
  • REIT · 0.3% · $845,000

Quarter-over-Quarter Changes full breakdown →

vs Q4 2021 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
NTRNUTRIEN LTDSOLD OUT−27.1K0−$2M$0
REGIEURRENEWABLE ENERGY GROUP INCSOLD OUT−25.4K0−$1M$0
ARLPALLIANCE RESOURCE PARTNERS LADDED+147.2K431.1K+$3M$7M
PAGPEURPLAINS GP HLDGS L PADDED+264.9K1.46M+$5M$17M
RIORIO TINTO PLCTRIMMED−3.9K14.4K−$68,000$1M
CVECENOVUS ENERGY INCTRIMMED−376.1K1.60M+$2M$27M
VALE S AADDED+5.3K36.5K+$292,000$730,000
CTVACORTEVA INCADDED+2.3K15.8K+$269,000$907,000

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2022

40 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CVECENOVUS ENERGY INChistory →COM8.45%$27M1.60M
2ETENERGY TRANSFER L Phistory →COM UT LTD PTN7.20%$23M2.03M
3PPLPEMBINA PIPELINE CORPhistory →COM6.10%$19M511.1K
4VIPER ENERGY PARTNERS LPCOM UNT RP INT5.99%$19M638.1K
5MPCMARATHON PETE CORPhistory →COM5.62%$18M207.0K
6TRGPTARGA RES CORPhistory →COM5.41%$17M225.7K
7PAGPEURPLAINS GP HLDGS L Phistory →LTD PARTNR INT A5.36%$17M1.46M
8WESWESTERN MIDSTREAM PARTNERS Lhistory →COM UNIT LP INT5.36%$17M668.9K
9VLOVALERO ENERGY CORPhistory →COM5.28%$17M163.9K
10PSXPHILLIPS 66history →COM4.87%$15M177.7K
11EPDENTERPRISE PRODS PARTNERS Lhistory →COM4.72%$15M575.7K
12SUSUNCOR ENERGY INC NEWhistory →COM4.48%$14M433.0K
13KMIKINDER MORGAN INC DELhistory →COM4.23%$13M704.5K
14WMBWILLIAMS COS INChistory →COM4.13%$13M389.4K
15LNGCHENIERE ENERGY INChistory →COM NEW3.17%$10M72.1K
16WEPMAGELLAN MIDSTREAM PRTNRS LPhistory →COM UNIT RP LP2.87%$9M184.2K
17ENBENBRIDGE INChistory →COM2.48%$8M169.4K
18ARLPALLIANCE RESOURCE PARTNERS Lhistory →UT LTD PART2.11%$7M431.1K
19TRPTC ENERGY CORPhistory →COM1.69%$5M94.3K
20ETRNUSDEQUITRANS MIDSTREAM CORPhistory →COM1.31%$4M488.4K
21AAALCOA CORPhistory →COM1.06%$3M37.1K
22SUNSUNOCO LP/SUNOCO FIN CORPhistory →COM UT REP LP1.01%$3M77.9K
23DARDARLING INGREDIENTS INCCOM0.91%$3M35.8K
24FCXFREEPORT-MCMORAN INCCL B0.72%$2M45.4K
25BHP GROUP LTDSPONSORED ADS0.62%$2M25.4K
26COPCONOCOPHILLIPSCOM0.53%$2M16.7K
27WRKUSDWESTROCK COCOM0.42%$1M28.2K
28NEMNEWMONT CORPCOM0.42%$1M16.7K
29TOTALENERGIES SESPONSORED ADS0.41%$1M25.5K
30RIORIO TINTO PLCSPONSORED ADR0.37%$1M14.4K
31NUENUCOR CORPCOM0.34%$1M7.3K
32FMCFMC CORPCOM NEW0.31%$986,0007.5K
33UEOWESTLAKE CORPORATIONCOM0.31%$978,0007.9K
34CTVACORTEVA INCCOM0.29%$907,00015.8K
35PKXPOSCO HOLDINGS INCSPONSORED ADR0.29%$901,00015.2K
36WYWEYERHAEUSER CO MTN BECOM NEW0.27%$845,00022.3K
37EXMOCEXXON MOBIL CORPCOM0.25%$781,0009.5K
38VALE S ASPONSORED ADS0.23%$730,00036.5K
39IPINTERNATIONAL PAPER COCOM0.22%$689,00014.9K
40ADMARCHER DANIELS MIDLAND COCOM0.19%$590,0006.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$1.7B67May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$1.4B71Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$1.3B64Nov 13, 202513F-HRchanges · EDGAR ↗
Q2 2025$1.2B64Aug 14, 202513F-HRchanges · EDGAR ↗
Q1 2025$1.2B65May 15, 202513F-HRchanges · EDGAR ↗
Q4 2024$1.1B65Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$1.0B54Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$950M51Aug 14, 202413F-HRchanges · EDGAR ↗
Q1 2024$863M50May 15, 202413F-HRchanges · EDGAR ↗
Q4 2023$682M44Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$681M51Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$591M53Aug 14, 202313F-HRchanges · EDGAR ↗
Q1 2023$506M43May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$469M53Feb 14, 202313F-HRchanges · EDGAR ↗
Q3 2022$371M42Nov 14, 202213F-HRchanges · EDGAR ↗
Q2 2022$330M49Aug 15, 202213F-HRchanges · EDGAR ↗
Q1 2022$315M40May 16, 202213F-HRchanges · EDGAR ↗
Q4 2021$248M42Feb 14, 202213F-HRchanges · EDGAR ↗
Q3 2021$228M41Nov 15, 202113F-HRchanges · EDGAR ↗
Q2 2021$198M43Aug 16, 202113F-HRchanges · EDGAR ↗
Q1 2021$158M44May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$135M43Feb 16, 202113F-HRchanges · EDGAR ↗
Q3 2020$94M40Nov 16, 202013F-HRchanges · EDGAR ↗
Q2 2020$106M39Aug 17, 202013F-HRchanges · EDGAR ↗
Q1 2020$53M34May 15, 202013F-HRchanges · EDGAR ↗
Q4 2019$78M44Feb 14, 202013F-HRchanges · 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 ↗.