Q4 2025 Holdings
Filed 2026-02-12 | 1063 holdings | $17.2B | 13F-HR | View on SEC ↗ · Holdings Table ↗
Sign in to see sub-manager breakdown
| Issuer | Class | CUSIP | Value ↓ | Shares | % Portfolio |
|---|---|---|---|---|---|
| Western Midstream Partners L(WES) | COM UNIT LP INT | 958669103 | $1.4B | 35,074,357 | 8.1% |
| Energy Transfer L P(ET) | COM UT LTD PTN | 29273V100 | $1.4B | 83,843,087 | 8.1% |
| Enterprise Prods Partners L(EPD) | COM | 293792107 | $1.4B | 42,639,131 | 8.0% |
| Plains All Amern Pipeline L(PAA) | UNIT LTD PARTN | 726503105 | $1.4B | 76,051,589 | 8.0% |
| Sunoco LP Co FIN Corp(SUN) | COM UT REP LP | 86765K109 | $1.3B | 24,856,265 | 7.6% |
| Hess Midstream LP(HESM) | CL A SHS | 428103105 | $1.0B | 30,303,091 | 6.1% |
| Cheniere Energy Partners LP(CQP) | COM UNIT | 16411Q101 | $499.4M | 9,338,942 | 2.9% |
| USA Compression Partners LP(USAC) | COM UNIT LTDPAR | 90290N109 | $408.2M | 17,748,200 | 2.4% |
| Genesis Energy L P(GEL) | UNIT LTD PARTN | 371927104 | $388.6M | 24,909,448 | 2.3% |
| Cameco Corp(CCJ) | COM | 13321L108 | $361.3M | 3,948,599 | 2.1% |
| Suburban Propane Partners L(SPH) | UNIT LTD PARTN | 864482104 | $279.0M | 15,051,196 | 1.6% |
| Global Partners LP(GLP) | COM UNITS | 37946R109 | $251.1M | 5,999,844 | 1.5% |
| Uranium Energy Corp(UEC) | COM | 916896103 | $204.0M | 17,462,284 | 1.2% |
| Delek Logistics Partners LP(DKL) | COM UNT RP INT | 24664T103 | $200.3M | 4,489,123 | 1.2% |
| Vanguard Index FDS(VTI) | TOTAL STK MKT | 922908769 | $163.0M | 486,187 | 0.9% |
| First Majestic Silver Corp(AG) | COM | 32076V103 | $160.3M | 9,621,720 | 0.9% |
| Nexgen Energy LTD(NXE) | COM | 65340P106 | $129.5M | 14,073,076 | 0.8% |
| Sprott Asset Management LP(PSLV/U) | PHYSICAL SILVER | 85207K107 | $127.4M | 5,387,630 | 0.7% |
| Denison Mines Corp(DNN) | COM | 248356107 | $127.3M | 47,866,962 | 0.7% |
| Energy Fuels Inc(UUUU) | COM NEW | 292671708 | $121.9M | 8,381,026 | 0.7% |
| Ishares TR(IVV) | CORE S&P500 ETF | 464287200 | $118.0M | 172,344 | 0.7% |
| Vanguard BD Index FDS(BND) | TOTAL BND MRKT | 921937835 | $94.6M | 1,277,079 | 0.6% |
| Vanguard Tax-Managed FDS(VEA) | VAN FTSE DEV MKT | 921943858 | $83.8M | 1,341,636 | 0.5% |
| Ur-Energy Inc(URG) | COM | 91688R108 | $60.9M | 43,829,022 | 0.4% |
| Accenture PLC Ireland(ACN) | SHS CLASS A | G1151C101 | $58.2M | 216,930 | 0.3% |
| Microsoft Corp(MSFT) | COM | 594918104 | $57.8M | 119,577 | 0.3% |
| Newmont Corp(NEM) | COM | 651639106 | $56.3M | 563,546 | 0.3% |
| Select Sector Spdr TR(XLE) | STATE STREET ENE | 81369Y506 | $53.6M | 1,198,522 | 0.3% |
| Select Sector Spdr TR(XLC) | STATE STREET COM | 81369Y852 | $53.4M | 453,864 | 0.3% |
| Alphabet Inc(GOOGL) | CAP STK CL A | 02079K305 | $53.0M | 169,478 | 0.3% |
| Select Sector Spdr TR(XLU) | STATE STREET UTI | 81369Y886 | $53.0M | 1,240,672 | 0.3% |
| Select Sector Spdr TR(XLRE) | STATE STREET REA | 81369Y860 | $52.9M | 1,311,427 | 0.3% |
| Select Sector Spdr TR(XLB) | STATE STREET MAT | 81369Y100 | $52.9M | 1,165,709 | 0.3% |
| Select Sector Spdr TR(XLV) | STATE STREET HEA | 81369Y209 | $52.8M | 341,368 | 0.3% |
| Select Sector Spdr TR(XLF) | STATE STREET FIN | 81369Y605 | $52.8M | 964,463 | 0.3% |
| Select Sector Spdr TR(XLK) | STATE STREET TEC | 81369Y803 | $52.7M | 365,744 | 0.3% |
| Select Sector Spdr TR(XLI) | STATE STREET IND | 81369Y704 | $52.6M | 339,299 | 0.3% |
| Select Sector Spdr TR(XLP) | STATE STREET CON | 81369Y308 | $52.1M | 671,324 | 0.3% |
| Select Sector Spdr TR(XLY) | STATE STREET CON | 81369Y407 | $51.8M | 434,000 | 0.3% |
| Kinder Morgan Inc del(KMI) | COM | 49456B101 | $51.6M | 1,877,192 | 0.3% |
| Schwab Strategic TR(FNDF) | FUNDAMENTAL INTL | 808524755 | $51.1M | 1,131,219 | 0.3% |
| Oneok Inc New(OKE) | COM | 682680103 | $49.1M | 667,888 | 0.3% |
| Merck & Co Inc(MRK) | COM | 58933Y105 | $49.0M | 465,114 | 0.3% |
| Apple Inc(AAPL) | COM | 037833100 | $48.3M | 177,497 | 0.3% |
| Comcast Corp New(CMCSA) | CL A | 20030N101 | $47.7M | 1,597,370 | 0.3% |
| Anglogold Ashanti PLC(AU) | COM SHS | G0378L100 | $46.0M | 539,471 | 0.3% |
| Ishares TR(OEF) | S&P 100 ETF | 464287101 | $44.7M | 130,232 | 0.3% |
| Vanguard Index FDS(VB) | SMALL CP ETF | 922908751 | $44.6M | 172,790 | 0.3% |
| Visa Inc(V) | COM CL A | 92826C839 | $43.8M | 124,813 | 0.3% |
| Johnson & Johnson(JNJ) | COM | 478160104 | $40.4M | 195,412 | 0.2% |