Heronetta Management, L.P. Long-Term Concentrated

CIK: 0001588225 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 4, 2026

Total Value ($000): $172,947 (100.0% shares, 0.0% debt)

Holdings (25)

Decreased Positions (9)

WMB WILLIAMS COS INC 8.7%

Value ($000) $15,037 (-14.1%) Shares 250,152 (-9.5%) Est. Cost $19.29 Unrealized +211.4%

ET ENERGY TRANSFER L P 7.6%

Value ($000) $13,227 (-12.8%) Shares 802,129 (-9.3%) Est. Cost $19.37 Unrealized —

EPD ENTERPRISE PRODS PARTNERS L 9.2%

Value ($000) $15,916 (-7.3%) Shares 496,448 (-9.6%) Est. Cost $41.53 Unrealized —

OKE ONEOK INC NEW 6.0%

Value ($000) $10,393 (-8.6%) Shares 141,402 (-9.2%) Est. Cost $48.10 Unrealized +46.5%

WES WESTERN MIDSTREAM PARTNERS L 4.7%

Value ($000) $8,151 (-9.2%) Shares 206,361 (-9.7%) Est. Cost $24.99 Unrealized —

MPLX MPLX LP 10.0%

Value ($000) $17,273 (-2.9%) Shares 323,639 (-9.1%) Est. Cost $33.25 Unrealized —

HESM HESS MIDSTREAM LP 1.9%

Value ($000) $3,240 (-8.9%) Shares 93,905 (-8.8%) Est. Cost $12.98 Unrealized +151.3%

KMI KINDER MORGAN INC DEL 1.4%

Value ($000) $2,439 (-9.4%) Shares 88,725 (-6.7%) Est. Cost $12.86 Unrealized +109.3%

PAGP PLAINS GP HLDGS L P 2.0%

Value ($000) $3,509 (-3.1%) Shares 183,325 (-7.7%) Est. Cost $11.05 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
WMB	WILLIAMS COS INC	250,152 (-9.5%)	$15,037 (-14.1%)	8.7%	$19.29	+211.4%	COM	969457100
ET	ENERGY TRANSFER L P	802,129 (-9.3%)	$13,227 (-12.8%)	7.6%	$19.37	—	COM UT LTD PTN	29273V100
EPD	ENTERPRISE PRODS PARTNERS L	496,448 (-9.6%)	$15,916 (-7.3%)	9.2%	$41.53	—	COM	293792107
OKE	ONEOK INC NEW	141,402 (-9.2%)	$10,393 (-8.6%)	6.0%	$48.10	+46.5%	COM	682680103
WES	WESTERN MIDSTREAM PARTNERS L	206,361 (-9.7%)	$8,151 (-9.2%)	4.7%	$24.99	—	COM UNIT LP INT	958669103
MPLX	MPLX LP	323,639 (-9.1%)	$17,273 (-2.9%)	10.0%	$33.25	—	COM UNIT REP LTD	55336V100
HESM	HESS MIDSTREAM LP	93,905 (-8.8%)	$3,240 (-8.9%)	1.9%	$12.98	+151.3%	CL A SHS	428103105
KMI	KINDER MORGAN INC DEL	88,725 (-6.7%)	$2,439 (-9.4%)	1.4%	$12.86	+109.3%	COM	49456B101
PAGP	PLAINS GP HLDGS L P	183,325 (-7.7%)	$3,509 (-3.1%)	2.0%	$11.05	—	LTD PARTNR INT A	72651A207

Unchanged Positions (16)

ENB ENBRIDGE INC 7.2%

Value ($000) $12,417 Shares 193,266 Est. Cost $27.88 Unrealized +69.0%

PBA PEMBINA PIPELINE CORP 5.8%

Value ($000) $10,086 Shares 197,698 Est. Cost $25.14 Unrealized +53.0%

CNQ CANADIAN NAT RES LTD 5.2%

Value ($000) $9,000 Shares 193,600 Est. Cost $21.64 Unrealized +49.8%

SU SUNCOR ENERGY INC NEW 4.6%

Value ($000) $8,041 Shares 132,000 Est. Cost $23.77 Unrealized +77.8%

CNI CANADIAN NATL RY CO 4.2%

Value ($000) $7,249 Shares 53,400 Est. Cost $62.81 Unrealized +53.1%

CP CANADIAN PACIFIC KANSAS CITY 5.2%

Value ($000) $9,024 Shares 89,300 Est. Cost $77.44 Unrealized -5.0%

TAC TRANSALTA CORP 1.2%

Value ($000) $2,118 Shares 122,000 Est. Cost $9.35 Unrealized +59.6%

TRGP TARGA RES CORP 1.1%

Value ($000) $1,890 Shares 10,242 Est. Cost $65.29 Unrealized +157.4%

LNG CHENIERE ENERGY INC 0.3%

Value ($000) $485 Shares 2,497 Est. Cost $175.04 Unrealized +20.0%

SOBO SOUTH BOW CORP 1.0%

Value ($000) $1,733 Shares 46,497 Est. Cost $23.11 Unrealized +17.5%

FTS FORTIS INC 3.5%

Value ($000) $6,137 Shares 86,000 Est. Cost $24.65 Unrealized +106.2%

EMA EMERA INC 2.6%

Value ($000) $4,498 Shares 66,500 Est. Cost $43.35 Unrealized +11.4%

AM ANTERO MIDSTREAM CORP 0.2%

Value ($000) $301 Shares 16,910 Est. Cost $8.56 Unrealized +107.4%

TRP TC ENERGY CORP 5.9%

Value ($000) $10,124 Shares 137,316 Est. Cost $36.20 Unrealized +47.4%

CVE CENOVUS ENERGY INC 0.2%

Value ($000) $348 Shares 15,000 Est. Cost $10.88 Unrealized +59.6%

CQP CHENIERE ENERGY PARTNERS LP 0.2%

Value ($000) $311 Shares 5,810 Est. Cost $56.87 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
ENB	ENBRIDGE INC	193,266	$12,417	7.2%	$27.88	+69.0%	COM	29250N105
PBA	PEMBINA PIPELINE CORP	197,698	$10,086	5.8%	$25.14	+53.0%	COM	706327103
CNQ	CANADIAN NAT RES LTD	193,600	$9,000	5.2%	$21.64	+49.8%	COM	136385101
SU	SUNCOR ENERGY INC NEW	132,000	$8,041	4.6%	$23.77	+77.8%	COM	867224107
CNI	CANADIAN NATL RY CO	53,400	$7,249	4.2%	$62.81	+53.1%	COM	136375102
CP	CANADIAN PACIFIC KANSAS CITY	89,300	$9,024	5.2%	$77.44	-5.0%	COM	13646K108
TAC	TRANSALTA CORP	122,000	$2,118	1.2%	$9.35	+59.6%	COM	89346D107
TRGP	TARGA RES CORP	10,242	$1,890	1.1%	$65.29	+157.4%	COM	87612G101
LNG	CHENIERE ENERGY INC	2,497	$485	0.3%	$175.04	+20.0%	COM NEW	16411R208
SOBO	SOUTH BOW CORP	46,497	$1,733	1.0%	$23.11	+17.5%	COM	83671M105
FTS	FORTIS INC	86,000	$6,137	3.5%	$24.65	+106.2%	COM	349553107
EMA	EMERA INC	66,500	$4,498	2.6%	$43.35	+11.4%	COM	290876101
AM	ANTERO MIDSTREAM CORP	16,910	$301	0.2%	$8.56	+107.4%	COM	03676B102
TRP	TC ENERGY CORP	137,316	$10,124	5.9%	$36.20	+47.4%	COM	87807B107
CVE	CENOVUS ENERGY INC	15,000	$348	0.2%	$10.88	+59.6%	COM	15135U109
CQP	CHENIERE ENERGY PARTNERS LP	5,810	$311	0.2%	$56.87	—	COM UNIT	16411Q101