Equal-WT
WhaleScore 2.0
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Recurrent Investment Advisors is based out of Houston. Recurrent Investment Advisors is a large advisory firm with 13 clients and discretionary assets under management (AUM) of $1,212,336,772 (Form ADV from 2025-03-17). Their last reported 13F filing for Q1 2025 included $1,180,420,948 in managed 13F securities
and a top 10 holdings concentration of 59.8%. Recurrent Investment Advisors's largest holding is Energy Transfer LP with shares held of 4,725,234. Whalewisdom has at least 22 13F filings
Business Description
Recurrent offers portfolio management and investment advisory services to registered investment companies, single-investor funds, discretionary advisory programs, commingled investment vehicles, and institutional investors through separate account management. They provide these services as an investment adviser on a discretionary basis through an investment company registered under the 1940 Act (the "Fund") and to high net worth individuals, corporations, and pooled investment vehicles through separately managed accounts (the "Separate Accounts"). The Fund and Separate Accounts are each considered a "Client".
Recurrent's fees depend on the services provided and vary based on factors such as investment mandate, investment vehicle, servicing required, account size, market conditions, and other relevant factors. For investment management services, fees are typically a percentage of net assets under management. Recurrent may negotiate and charge asset-based fees to the extent permitted by the Advisers Act or the 1940 Act.
Investment Strategy
Recurrent's investment process combines macroeconomic and commodity supply/demand factors with fundamental company analysis to select investments and determine their weighting. They use proprietary valuation analysis to determine target high and low-end values for each investment, seeking to capitalize on changing dynamics in various sectors like energy, infrastructure, and manufacturing to build a portfolio aimed at income and appreciation.
The investment strategies are tailored to client objectives, guidelines, and restrictions, considering factors such as regulatory restrictions, investment size and type, current holdings, diversification requirements, capital availability, tactical plans, and risk tolerance. Other considerations include target investment return, market exposure, tax consequences, leverage levels, liquidity needs, and strategic objectives. While generally focused on long-term growth, short-term positions may be taken based on client needs.
Owners
- LASKIN, MARK, JASON - CO-MANAGING PARTNER, MANAGING MEMBER
- OLSEN, BRADLEY, RICHARD - CO-MANAGING PARTNER, MANAGING MEMBER AND CHIEF COMPLIANCE OFFICER Click on the Ownership/Private Fund Data tab for more details.
Known Email Addresses
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Other Contact Information
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2025-03-31
Top Buys (13F)
| Name | % Change |
|---|---|
| PBA Pembina Pipeline Cor | 1.22% |
| SUN Sunoco LP | 0.39% |
| ARLP Alliance Resource Pa | 0.27% |
| SU Suncor Energy, Inc | 0.24% |
| PSX Phillips 66 | 0.23% |
2025-03-31
Top Sells (13F)
| Name | % Change |
|---|---|
| EPD Enterprise Products | 0.33% |
| WES Western Midstream Pa | 0.22% |
| SW Smurfit WestRock plc | 0.14% |
| SOBO South Bow Corp | 0.09% |
| MT ArcelorMittal | 0.08% |
2025-03-31
13F Holdings Summary
| Name | $ Change |
|---|---|
| ET Energy Transfer LP | 7.44% |
| LNG Cheniere Energy Inc | 7.3% |
| PBA Pembina Pipeline Cor | 6.75% |
| TRGP Targa Resources Corp | 6.07% |
| CVE Cenovus Energy Inc | 6% |
2025-03-31
13F Activity
| Market Value | $1.18b, Prior: $1.09b |
| Inflows (Outflows) as % of Total MV | +4.0123% |
| New Purchases | 3 stocks |
| Added To | 48 stocks |
| Sold out of | 3 stocks |
| Reduced holdings in | 7 stocks |
| Top 10 Holdings % | 59.8% |
| Turnover %[1] | 8.82% |
| Turnover Alt %[2] | 0.86% |
| Time Held Top 20 | 15.35 quarters |
| Time Held Top 10 | 9.9 quarters |
| Time Held All | 12.8 quarters |
[1]: Turnover is calculated by taking the # of new holdings (initial purchases) + the # of positions sold out of (not just reduced) divided by the total # of holdings for the quarter.
[2]: Alt Turnover is calculated by taking either the total MV of new purchases or the MV of securities sold, whichever is less, divided by the total MV of the fund.
2025-03-31
13F Sector Allocation Over Time
limited to past 4 quarters. Subscribe to see all available data
2025-03-31
Analysis
Top 20 equal-weighted holdings. Performance numbers calculated through 2025-03-31