SL ADVISORS, LLC Long-Term Concentrated

Location: Naples, FL

CIK: 0001680365 · Show all filings

Period: Q3 2025 (← Previous) (Next →)

Filing Date: Oct 20, 2025

Total Value: $50.82M (100.0% shares, 0.0% debt)

Holdings (31)

ET ENERGY TRANSFER LP 14.6%

Value $7.406M Shares 431,577 Share Price $17.16 Est. Cost/Share $11.65 Unrealized @ Report Date —

NEXT NEXTDECADE 12.4%

Value $6.297M Shares 927,384 Share Price $6.79 Est. Cost/Share $5.27 Unrealized @ Report Date +28.9%

WMB WILLIAMS COMPANIES 8.7%

Value $4.411M Shares 69,634 Share Price $63.35 Est. Cost/Share $18.91 Unrealized @ Report Date +232.3%

LNG CHENIERE ENERGY INC 8.5%

Value $4.332M Shares 18,435 Share Price $234.98 Est. Cost/Share $73.91 Unrealized @ Report Date +217.9%

USAI PACER AMERN ENERGY INDEPENDENCE ETF 6.5%

Value $3.326M Shares 83,465 Share Price $39.85 Est. Cost/Share $27.71 Unrealized @ Report Date +43.8%

TRGP TARGA RESOURCES CORP 6.1%

Value $3.091M Shares 18,452 Share Price $167.54 Est. Cost/Share $37.65 Unrealized @ Report Date +342.1%

OKE ONEOK INC 6.0%

Value $3.025M Shares 41,462 Share Price $72.97 Est. Cost/Share $51.97 Unrealized @ Report Date +38.3%

EPD ENTERPRISE PRODS PART LP 4.6%

Value $2.313M Shares 73,971 Share Price $31.27 Est. Cost/Share $27.02 Unrealized @ Report Date —

BRK/B BERKSHIRE HATHAWAY CLASS B 3.1%

Value $1.573M Shares 3,129 Share Price $502.74 Est. Cost/Share $165.93 Unrealized @ Report Date +203.0%

ENB ENBRIDGE INC F 2.9%

Value $1.481M Shares 29,341 Share Price $50.46 Est. Cost/Share $24.97 Unrealized @ Report Date +99.4%

SPY SPDR S&P 500 ETF 2.8%

Value $1.43M Shares 2,147 Share Price $666.18 Est. Cost/Share $396.68 Unrealized @ Report Date +67.9%

TRP TC ENERGY CORP F 2.7%

Value $1.396M Shares 25,651 Share Price $54.41 Est. Cost/Share $33.29 Unrealized @ Report Date +63.4%

KMI KINDER MORGAN INC 2.0%

Value $1.038M Shares 36,648 Share Price $28.31 Est. Cost/Share $12.50 Unrealized @ Report Date +124.0%

WES WESTERN MIDSTREAM PAR LP 1.9%

Value $965K Shares 24,554 Share Price $39.29 Est. Cost/Share $32.81 Unrealized @ Report Date —

KNTK KINETIK HOLDINGS 1.9%

Value $953K Shares 22,306 Share Price $42.74 Est. Cost/Share $35.13 Unrealized @ Report Date +21.7%

RSG REPUBLIC SERVICES 1.8%

Value $903K Shares 3,935 Share Price $229.48 Est. Cost/Share $47.77 Unrealized @ Report Date +377.6%

MPLX MPLX LP 1.7%

Value $883K Shares 17,680 Share Price $49.95 Est. Cost/Share $36.20 Unrealized @ Report Date —

PBA PEMBINA PIPELINE CO F 1.7%

Value $849K Shares 20,987 Share Price $40.46 Est. Cost/Share $25.79 Unrealized @ Report Date +56.9%

RTX RAYTHEON TECHNOLOGIES CO 1.5%

Value $782K Shares 4,676 Share Price $167.33 Est. Cost/Share $131.75 Unrealized @ Report Date +26.5%

ADP AUTO DATA PROCESSING 1.3%

Value $638K Shares 2,173 Share Price $293.50 Est. Cost/Share $85.94 Unrealized @ Report Date +239.3%

WM WASTE MANAGEMENT INC 1.2%

Value $624K Shares 2,825 Share Price $220.83 Est. Cost/Share $153.98 Unrealized @ Report Date +42.9%

LMT KINETIK HOLDINGS 1.0%

Value $487K Shares 976 Share Price $499.21 Est. Cost/Share $207.71 Unrealized @ Report Date +138.5%

MCD MCDONALDS CORP 0.9%

Value $479K Shares 1,576 Share Price $303.89 Est. Cost/Share $115.23 Unrealized @ Report Date +162.2%

XLP SPDR FUND CONSUMER STAPLES ETF 0.7%

Value $381K Shares 4,855 Share Price $78.37 Est. Cost/Share $65.79 Unrealized @ Report Date +19.1%

ECL ECOLAB INC 0.7%

Value $351K Shares 1,280 Share Price $273.86 Est. Cost/Share $176.78 Unrealized @ Report Date +54.5%

PAGP PLAINS GP HLDGS 0.6%

Value $297K Shares 16,291 Share Price $18.24 Est. Cost/Share $21.88 Unrealized @ Report Date —

PG PROCTER & GAMBLE 0.5%

Value $235K Shares 1,530 Share Price $153.65 Est. Cost/Share $164.23 Unrealized @ Report Date -7.1%

HSY HERSHEY CO 0.5%

Value $229K Shares 1,223 Share Price $187.05 Est. Cost/Share $186.05 Unrealized @ Report Date -0.2%

MKC MC CORMICK & CO INC 0.4%

Value $222K Shares 3,323 Share Price $66.91 Est. Cost/Share $63.71 Unrealized @ Report Date +3.6%

KO THE COCA-COLA CO 0.4%

Value $217K Shares 3,277 Share Price $66.32 Est. Cost/Share $35.53 Unrealized @ Report Date +85.3%

JNJ JOHNSON & JOHNSON 0.4%

Value $203K Shares 1,093 Share Price $185.42 Est. Cost/Share $169.51 Unrealized @ Report Date +8.7%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ET	ENERGY TRANSFER LP	431,577	$7.406M	14.6%	$17.16	$11.65	—	COM	29273V100
NEXT	NEXTDECADE	927,384	$6.297M	12.4%	$6.79	$5.27	+28.9%	COM	65342K105
WMB	WILLIAMS COMPANIES	69,634	$4.411M	8.7%	$63.35	$18.91	+232.3%	COM	969457100
LNG	CHENIERE ENERGY INC	18,435	$4.332M	8.5%	$234.98	$73.91	+217.9%	COM NEW	16411R208
USAI	PACER AMERN ENERGY INDEPENDENCE ETF	83,465	$3.326M	6.5%	$39.85	$27.71	+43.8%	COM	69374H634
TRGP	TARGA RESOURCES CORP	18,452	$3.091M	6.1%	$167.54	$37.65	+342.1%	COM	87612G101
OKE	ONEOK INC	41,462	$3.025M	6.0%	$72.97	$51.97	+38.3%	COM	682680103
EPD	ENTERPRISE PRODS PART LP	73,971	$2.313M	4.6%	$31.27	$27.02	—	COM	293792107
BRK/B	BERKSHIRE HATHAWAY CLASS B	3,129	$1.573M	3.1%	$502.74	$165.93	+203.0%	CL B NEW	084670702
ENB	ENBRIDGE INC F	29,341	$1.481M	2.9%	$50.46	$24.97	+99.4%	COM	29250N105
SPY	SPDR S&P 500 ETF	2,147	$1.43M	2.8%	$666.18	$396.68	+67.9%	TR UNIT	78462F103
TRP	TC ENERGY CORP F	25,651	$1.396M	2.7%	$54.41	$33.29	+63.4%	COM	87807B107
KMI	KINDER MORGAN INC	36,648	$1.038M	2.0%	$28.31	$12.50	+124.0%	COM	49456B101
WES	WESTERN MIDSTREAM PAR LP	24,554	$965K	1.9%	$39.29	$32.81	—	COM UNIT LP INT	958669103
KNTK	KINETIK HOLDINGS	22,306	$953K	1.9%	$42.74	$35.13	+21.7%	COM NEW CL A	02215L209
RSG	REPUBLIC SERVICES	3,935	$903K	1.8%	$229.48	$47.77	+377.6%	COM	760759100
MPLX	MPLX LP	17,680	$883K	1.7%	$49.95	$36.20	—	COM UNIT REP LTD	55336V100
PBA	PEMBINA PIPELINE CO F	20,987	$849K	1.7%	$40.46	$25.79	+56.9%	COM	706327103
RTX	RAYTHEON TECHNOLOGIES CO	4,676	$782K	1.5%	$167.33	$131.75	+26.5%	COM	75513E101
ADP	AUTO DATA PROCESSING	2,173	$638K	1.3%	$293.50	$85.94	+239.3%	COM	053015103
WM	WASTE MANAGEMENT INC	2,825	$624K	1.2%	$220.83	$153.98	+42.9%	COM	94106L109
LMT	KINETIK HOLDINGS	976	$487K	1.0%	$499.21	$207.71	+138.5%	COM	539830109
MCD	MCDONALDS CORP	1,576	$479K	0.9%	$303.89	$115.23	+162.2%	COM	580135101
XLP	SPDR FUND CONSUMER STAPLES ETF	4,855	$381K	0.7%	$78.37	$65.79	+19.1%	SBI CONS STPLS	81369Y308
ECL	ECOLAB INC	1,280	$351K	0.7%	$273.86	$176.78	+54.5%	COM	278865100
PAGP	PLAINS GP HLDGS	16,291	$297K	0.6%	$18.24	$21.88	—	LTD PARTNR INT A	72651A207
PG	PROCTER & GAMBLE	1,530	$235K	0.5%	$153.65	$164.23	-7.1%	COM	742718109
HSY	HERSHEY CO	1,223	$229K	0.5%	$187.05	$186.05	-0.2%	COM	427866108
MKC	MC CORMICK & CO INC	3,323	$222K	0.4%	$66.91	$63.71	+3.6%	COM NON VTG	579780206
KO	THE COCA-COLA CO	3,277	$217K	0.4%	$66.32	$35.53	+85.3%	COM	191216100
JNJ	JOHNSON & JOHNSON	1,093	$203K	0.4%	$185.42	$169.51	+8.7%	COM	478160104