Recurrent Investment Advisors LLC

Long Only Manager

Recurrent Investment Advisors LLC is a Long Only Manager based in Houston, TX led by Bradley Richard Olsen, managing $1.3B across 64 long positions as of Q3 2025 with 89% Energy concentration and 57% concentrated in top 10 holdings.

Managing PartnerBradley Richard Olsen

Portfolio Value: $1.3B
Positions: 64
Top Holding: CVE at 8.62%
Last Reported: Q3 2025

Address3801 Kirby Drive, Suite 654, Houston, TX, 77098-4100, United States

Top Holdings

Largest long holdings in Recurrent Investment Advisors LLC's portfolio (57% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Cenovus Energy CVE	Oil & Gas Integrated Energy	$112.4M	8.62%	+$2.1M Bought	0.36% 6.4M shares	Q4 2019 Held for 5y 11m
2 Energy Transfer ET	Oil & Gas Midstream Energy	$85.6M	6.56%	+$3.3M Bought	0.15% 5.0M shares	Q4 2019 Held for 5y 11m
3 Targa Resources TRGP	Oil & Gas Midstream Energy	$84.9M	6.51%	+$11.9M Bought	0.24% 507.0K shares	Q4 2020 Held for 4y 11m
4 Oneok OKE	Oil & Gas Midstream Energy	$81.4M	6.24%	+$12.2M Bought	0.18% 1.1M shares	Q2 2023 Held for 2y 5m
5 Suncor Energy SU	Oil & Gas Integrated Energy	$75.8M	5.81%	-$159.3K Sold	0.15% 1.8M shares	Q2 2020 Held for 5y 5m
6 Pembina Pipeline PBA	Oil & Gas Midstream Energy	$69.0M	5.29%	-$6.2M Sold	0.29% 1.7M shares	Q4 2019 Held for 5y 11m
7 Phillips 66 PSX	Oil & Gas Refining & Marketing Energy	$63.2M	4.84%	-$341.4K Sold	0.11% 464.5K shares	Q4 2019 Held for 5y 11m
8 Cheniere Energy LNG	Oil & Gas Midstream Energy	$63.1M	4.84%	-$10.1M Sold	0.12% 268.5K shares	Q4 2019 Held for 5y 11m
9 Enterprise Products Partners EPD	Oil & Gas Midstream Energy	$54.3M	4.17%	-$81.8K Sold	0.08% 1.7M shares	Q4 2019 Held for 5y 11m
10 Marathon Petroleum MPC	Oil & Gas Refining & Marketing Energy	$54.1M	4.15%	+$59.9K Bought	0.09% 280.9K shares	Q4 2019 Held for 5y 11m

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Recurrent Investment Advisors LLC's latest filing

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Market Value

$1.3B

Prior: $1.2B

Q/Q Change

+5.52%

+$68.3M

Net Flows % of MV

-0.068%

Turnover Ratio

4.6%

New Purchases

0 stocks

Added To

21 stocks

+$72.6M

Sold Out Of

1 stocks

$3.0M

Reduced Holdings

17 stocks

-$70.6M

Increased Positions

Position	Shares Δ	Change
1 Murphy USA MUSA	+4,972.46%	2.0K → 100.9K +$38.4M
2 Chevron CVX	+102.9%	21.2K → 43.1K +$3.4M
3 Vale S.A. VALE	+29.91%	100.4K → 130.4K +$326.0K
4 Oneok OKE	+17.56%	948.8K → 1.1M +$12.2M
5 Targa Resources TRGP	+16.32%	435.9K → 507.0K +$11.9M

Decreased Positions

Position	Shares Δ	Change
1 Hess HES	Sold	21.3K → 0 −$3.0M
2 Valero Energy VLO	-93.73%	179.7K → 11.3K −$28.7M
3 PBF Energy PBF	-25.79%	2.4M → 1.8M −$18.6M
4 Nucor NUE	-20.92%	21.1K → 16.7K −$598.5K
5 Vistra VST	-14.78%	5.1K → 4.3K −$146.9K