SL ADVISORS, LLC Long-Term Concentrated

Location: Naples, FL

CIK: 0001680365 · Show all filings

Period: Q2 2025 (← Previous) (Next →)

Filing Date: Apr 15, 2026

Total Value: $55.52M (100.0% shares, 0.0% debt)

Holdings (31)

NEXT NEXTDECADE 15.4%

Value $8.556M Shares 960,279 Share Price $8.91 Est. Cost/Share $5.27 Unrealized @ Report Date +69.2%

ET ENERGY TRANSFER LP 12.4%

Value $6.869M Shares 378,868 Share Price $18.13 Est. Cost/Share $10.88 Unrealized @ Report Date —

LNG CHENIERE ENERGY INC 8.0%

Value $4.434M Shares 18,209 Share Price $243.52 Est. Cost/Share $71.91 Unrealized @ Report Date +238.7%

WMB WILLIAMS COMPANIES 7.8%

Value $4.331M Shares 68,949 Share Price $62.81 Est. Cost/Share $18.91 Unrealized @ Report Date +226.7%

OKE ONEOK INC 6.9%

Value $3.815M Shares 46,733 Share Price $81.63 * Est. Cost/Share $51.97 Unrealized @ Report Date +52.7%

USAI PACER AMERN ENERGY INDEPENDENCE ETF 6.9%

Value $3.805M Shares 93,465 Share Price $40.71 Est. Cost/Share $27.71 Unrealized @ Report Date +46.9%

TRGP TARGA RESOURCES CORP 5.8%

Value $3.198M Shares 18,371 Share Price $174.08 Est. Cost/Share $37.65 Unrealized @ Report Date +356.6%

EPD ENTERPRISE PRODS PART LP 4.1%

Value $2.266M Shares 73,064 Share Price $31.01 Est. Cost/Share $26.97 Unrealized @ Report Date —

ENB ENBRIDGE INC F 3.0%

Value $1.679M Shares 37,044 Share Price $45.32 * Est. Cost/Share $24.97 Unrealized @ Report Date +76.5%

BRK/B BERKSHIRE HATHAWAY CLASS B 2.7%

Value $1.523M Shares 3,136 Share Price $485.77 Est. Cost/Share $165.93 Unrealized @ Report Date +192.8%

TRP TC ENERGY CORP F 2.6%

Value $1.456M Shares 29,849 Share Price $48.79 Est. Cost/Share $33.29 Unrealized @ Report Date +46.6%

KMI KINDER MORGAN INC 2.5%

Value $1.396M Shares 47,472 Share Price $29.40 * Est. Cost/Share $12.50 Unrealized @ Report Date +130.2%

SPY SPDR S&P 500 ETF 2.4%

Value $1.327M Shares 2,147 Share Price $617.85 Est. Cost/Share $396.68 Unrealized @ Report Date +55.8%

RSG REPUBLIC SERVICES 1.9%

Value $1.03M Shares 4,177 Share Price $246.61 Est. Cost/Share $47.77 Unrealized @ Report Date +412.1%

PBA PEMBINA PIPELINE CO F 1.7%

Value $969K Shares 25,827 Share Price $37.51 Est. Cost/Share $25.79 Unrealized @ Report Date +45.4%

KNTK KINETIK HOLDINGS 1.7%

Value $966K Shares 21,927 Share Price $44.05 Est. Cost/Share $35.01 Unrealized @ Report Date +25.8%

WES WESTERN MIDSTREAM PAR LP 1.7%

Value $936K Shares 24,177 Share Price $38.70 Est. Cost/Share $32.71 Unrealized @ Report Date —

MPLX MPLX, LP 1.6%

Value $895K Shares 17,375 Share Price $51.51 Est. Cost/Share $35.96 Unrealized @ Report Date —

NFE New Fortress Energy 1.4%

Value $795K Shares 239,399 Share Price $3.32 * Est. Cost/Share $0.19 Unrealized @ Report Date -64.4%

WM WASTE MANAGEMENT INC 1.2%

Value $690K Shares 3,016 Share Price $228.82 Est. Cost/Share $153.98 Unrealized @ Report Date +47.5%

RTX RAYTHEON TECHNOLOGIES CO 1.2%

Value $687K Shares 4,702 Share Price $146.02 Est. Cost/Share $131.75 Unrealized @ Report Date +9.9%

ADP AUTO DATA PROCESSING 1.2%

Value $674K Shares 2,184 Share Price $308.40 Est. Cost/Share $85.94 Unrealized @ Report Date +254.7%

LMT KINETIK HOLDINGS 1.0%

Value $550K Shares 1,188 Share Price $463.14 Est. Cost/Share $207.71 Unrealized @ Report Date +119.7%

MCD MCDONALDS CORP 0.8%

Value $463K Shares 1,583 Share Price $292.17 Est. Cost/Share $115.23 Unrealized @ Report Date +150.6%

PAGP PLAINS GP HLDGS 0.7%

Value $414K Shares 21,282 Share Price $19.43 Est. Cost/Share $21.88 Unrealized @ Report Date —

XLP SPDR FUND CONSUMER STAPLES ETF 0.7%

Value $393K Shares 4,853 Share Price $80.97 Est. Cost/Share $65.79 Unrealized @ Report Date +23.1%

ECL ECOLAB INC 0.6%

Value $347K Shares 1,288 Share Price $269.44 Est. Cost/Share $176.78 Unrealized @ Report Date +51.6%

PG PROCTER & GAMBLE 0.6%

Value $323K Shares 2,026 Share Price $159.32 Est. Cost/Share $164.23 Unrealized @ Report Date -4.3%

KO THE COCA-COLA CO 0.5%

Value $274K Shares 3,872 Share Price $70.75 Est. Cost/Share $35.53 Unrealized @ Report Date +96.2%

MKC MC CORMICK & CO INC 0.5%

Value $253K Shares 3,338 Share Price $75.82 Est. Cost/Share $63.71 Unrealized @ Report Date +16.7%

HSY HERSHEY CO 0.4%

Value $205K Shares 1,233 Share Price $165.95 Est. Cost/Share $186.05 Unrealized @ Report Date -12.2%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
NEXT	NEXTDECADE	960,279	$8.556M	15.4%	$8.91	$5.27	+69.2%	COM	65342K105
ET	ENERGY TRANSFER LP	378,868	$6.869M	12.4%	$18.13	$10.88	—	COM	29273V100
LNG	CHENIERE ENERGY INC	18,209	$4.434M	8.0%	$243.52	$71.91	+238.7%	COM NEW	16411R208
WMB	WILLIAMS COMPANIES	68,949	$4.331M	7.8%	$62.81	$18.91	+226.7%	COM	969457100
OKE	ONEOK INC	46,733	$3.815M	6.9%	$81.63 *	$51.97	+52.7%	COM	682680103
USAI	PACER AMERN ENERGY INDEPENDENCE ETF	93,465	$3.805M	6.9%	$40.71	$27.71	+46.9%	COM	69374H634
TRGP	TARGA RESOURCES CORP	18,371	$3.198M	5.8%	$174.08	$37.65	+356.6%	COM	87612G101
EPD	ENTERPRISE PRODS PART LP	73,064	$2.266M	4.1%	$31.01	$26.97	—	COM	293792107
ENB	ENBRIDGE INC F	37,044	$1.679M	3.0%	$45.32 *	$24.97	+76.5%	COM	29250N105
BRK/B	BERKSHIRE HATHAWAY CLASS B	3,136	$1.523M	2.7%	$485.77	$165.93	+192.8%	CL B NEW	084670702
TRP	TC ENERGY CORP F	29,849	$1.456M	2.6%	$48.79	$33.29	+46.6%	COM	87807B107
KMI	KINDER MORGAN INC	47,472	$1.396M	2.5%	$29.40 *	$12.50	+130.2%	COM	49456B101
SPY	SPDR S&P 500 ETF	2,147	$1.327M	2.4%	$617.85	$396.68	+55.8%	TR UNIT	78462F103
RSG	REPUBLIC SERVICES	4,177	$1.03M	1.9%	$246.61	$47.77	+412.1%	COM	760759100
PBA	PEMBINA PIPELINE CO F	25,827	$969K	1.7%	$37.51	$25.79	+45.4%	COM	706327103
KNTK	KINETIK HOLDINGS	21,927	$966K	1.7%	$44.05	$35.01	+25.8%	COM	02215L209
WES	WESTERN MIDSTREAM PAR LP	24,177	$936K	1.7%	$38.70	$32.71	—	COM UNIT LP INT	958669103
MPLX	MPLX, LP	17,375	$895K	1.6%	$51.51	$35.96	—	COM	55336V100
NFE	New Fortress Energy	239,399	$795K	1.4%	$3.32 *	$0.19	-64.4%	COM	644393100
WM	WASTE MANAGEMENT INC	3,016	$690K	1.2%	$228.82	$153.98	+47.5%	COM	94106L109
RTX	RAYTHEON TECHNOLOGIES CO	4,702	$687K	1.2%	$146.02	$131.75	+9.9%	COM	75513E101
ADP	AUTO DATA PROCESSING	2,184	$674K	1.2%	$308.40	$85.94	+254.7%	COM	053015103
LMT	KINETIK HOLDINGS	1,188	$550K	1.0%	$463.14	$207.71	+119.7%	COM	539830109
MCD	MCDONALDS CORP	1,583	$463K	0.8%	$292.17	$115.23	+150.6%	COM	580135101
PAGP	PLAINS GP HLDGS	21,282	$414K	0.7%	$19.43	$21.88	—	LTD PARTNR INT A	72651A207
XLP	SPDR FUND CONSUMER STAPLES ETF	4,853	$393K	0.7%	$80.97	$65.79	+23.1%	COM	81369Y308
ECL	ECOLAB INC	1,288	$347K	0.6%	$269.44	$176.78	+51.6%	COM	278865100
PG	PROCTER & GAMBLE	2,026	$323K	0.6%	$159.32	$164.23	-4.3%	COM	742718109
KO	THE COCA-COLA CO	3,872	$274K	0.5%	$70.75	$35.53	+96.2%	COM	191216100
MKC	MC CORMICK & CO INC	3,338	$253K	0.5%	$75.82	$63.71	+16.7%	COM NON VTG	579780206
HSY	HERSHEY CO	1,233	$205K	0.4%	$165.95	$186.05	-12.2%	COM	427866108