SL ADVISORS, LLC Long-Term Concentrated

Location: Naples, FL

CIK: 0001680365 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Apr 15, 2026

Total Value: $48.84M (100.0% shares, 0.0% debt)

Holdings (32)

ET ENERGY TRANSFER LP 15.0%

Value $7.305M Shares 442,978 Share Price $16.49 Est. Cost/Share $11.77 Unrealized @ Report Date —

NEXT NEXTDECADE 10.0%

Value $4.864M Shares 922,889 Share Price $5.27 Est. Cost/Share $5.27 Unrealized @ Report Date +0.1%

WMB WILLIAMS COMPANIES 8.2%

Value $4.003M Shares 66,598 Share Price $60.11 Est. Cost/Share $18.91 Unrealized @ Report Date +217.9%

USAI PACER AMERN ENERGY INDEPENDENCE ETF 7.5%

Value $3.658M Shares 95,895 Share Price $38.15 Est. Cost/Share $29.04 Unrealized @ Report Date +31.4%

LNG CHENIERE ENERGY INC 7.1%

Value $3.452M Shares 17,756 Share Price $194.39 Est. Cost/Share $73.91 Unrealized @ Report Date +163.0%

TRGP TARGA RESOURCES CORP 6.8%

Value $3.302M Shares 17,895 Share Price $184.50 Est. Cost/Share $37.65 Unrealized @ Report Date +390.1%

OKE ONEOK INC 6.0%

Value $2.907M Shares 39,545 Share Price $73.50 Est. Cost/Share $51.97 Unrealized @ Report Date +41.4%

EPD ENTERPRISE PRODS PART LP 4.7%

Value $2.3M Shares 71,745 Share Price $32.06 Est. Cost/Share $27.02 Unrealized @ Report Date —

BRK/B BERKSHIRE HATHAWAY CLASS B 3.2%

Value $1.57M Shares 3,124 Share Price $502.65 Est. Cost/Share $165.93 Unrealized @ Report Date +202.9%

SPY SPDR S&P 500 ETF 3.0%

Value $1.464M Shares 2,147 Share Price $681.92 Est. Cost/Share $396.68 Unrealized @ Report Date +71.9%

TRP TC ENERGY CORP F 2.8%

Value $1.366M Shares 24,825 Share Price $55.01 Est. Cost/Share $33.29 Unrealized @ Report Date +65.2%

ENB ENBRIDGE INC F 2.8%

Value $1.349M Shares 28,199 Share Price $47.83 Est. Cost/Share $24.97 Unrealized @ Report Date +89.0%

KNTK KINETIK HOLDINGS 2.7%

Value $1.305M Shares 36,197 Share Price $36.05 Est. Cost/Share $35.51 Unrealized @ Report Date +1.5%

KMI KINDER MORGAN INC 2.0%

Value $967K Shares 35,159 Share Price $27.49 Est. Cost/Share $12.50 Unrealized @ Report Date +120.0%

WES WESTERN MIDSTREAM PAR LP 1.9%

Value $932K Shares 23,602 Share Price $39.50 Est. Cost/Share $32.81 Unrealized @ Report Date —

MPLX MPLX LP 1.9%

Value $920K Shares 17,229 Share Price $53.37 Est. Cost/Share $36.20 Unrealized @ Report Date —

RTX RAYTHEON TECHNOLOGIES CO 1.8%

Value $861K Shares 4,697 Share Price $183.40 Est. Cost/Share $131.75 Unrealized @ Report Date +39.2%

RSG REPUBLIC SERVICES 1.7%

Value $835K Shares 3,940 Share Price $211.93 Est. Cost/Share $47.77 Unrealized @ Report Date +342.3%

PBA PEMBINA PIPELINE CO F 1.6%

Value $772K Shares 20,294 Share Price $38.06 Est. Cost/Share $25.79 Unrealized @ Report Date +47.6%

WM WASTE MANAGEMENT INC 1.3%

Value $623K Shares 2,836 Share Price $219.71 Est. Cost/Share $153.98 Unrealized @ Report Date +42.7%

SOBO SOUTH BOW CORP F 1.2%

Value $586K Shares 21,336 Share Price $27.47 Est. Cost/Share $27.16 Unrealized @ Report Date +1.1%

ADP AUTO DATA PROCESSING 1.1%

Value $517K Shares 2,010 Share Price $257.23 Est. Cost/Share $85.94 Unrealized @ Report Date +199.3%

LMT KINETIK HOLDINGS 0.9%

Value $427K Shares 883 Share Price $483.67 Est. Cost/Share $207.71 Unrealized @ Report Date +132.9%

MCD MCDONALDS CORP 0.9%

Value $426K Shares 1,394 Share Price $305.63 Est. Cost/Share $115.23 Unrealized @ Report Date +165.2%

XLP SPDR FUND CONSUMER STAPLES ETF 0.8%

Value $377K Shares 4,858 Share Price $77.68 Est. Cost/Share $65.79 Unrealized @ Report Date +18.1%

ECL ECOLAB INC 0.7%

Value $339K Shares 1,291 Share Price $262.52 Est. Cost/Share $176.78 Unrealized @ Report Date +48.5%

PAGP PLAINS GP HLDGS 0.6%

Value $298K Shares 15,565 Share Price $19.14 Est. Cost/Share $21.88 Unrealized @ Report Date —

KO THE COCA-COLA CO 0.5%

Value $231K Shares 3,300 Share Price $69.91 Est. Cost/Share $35.53 Unrealized @ Report Date +96.7%

JNJ JOHNSON & JOHNSON 0.5%

Value $228K Shares 1,103 Share Price $206.95 Est. Cost/Share $169.51 Unrealized @ Report Date +22.1%

HSY HERSHEY CO 0.5%

Value $225K Shares 1,234 Share Price $181.98 Est. Cost/Share $186.05 Unrealized @ Report Date -2.2%

PG PROCTER & GAMBLE 0.5%

Value $221K Shares 1,541 Share Price $143.31 Est. Cost/Share $164.23 Unrealized @ Report Date -12.7%

MRK MERCK & CO INC 0.4%

Value $210K Shares 1,992 Share Price $105.26 Est. Cost/Share $93.24 Unrealized @ Report Date +12.9%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
ET	ENERGY TRANSFER LP	442,978	$7.305M	15.0%	$16.49	$11.77	—	COM UT LTD PTN	29273V100
NEXT	NEXTDECADE	922,889	$4.864M	10.0%	$5.27	$5.27	+0.1%	COM	65342K105
WMB	WILLIAMS COMPANIES	66,598	$4.003M	8.2%	$60.11	$18.91	+217.9%	COM	969457100
USAI	PACER AMERN ENERGY INDEPENDENCE ETF	95,895	$3.658M	7.5%	$38.15	$29.04	+31.4%	COM	69374H634
LNG	CHENIERE ENERGY INC	17,756	$3.452M	7.1%	$194.39	$73.91	+163.0%	COM NEW	16411R208
TRGP	TARGA RESOURCES CORP	17,895	$3.302M	6.8%	$184.50	$37.65	+390.1%	COM	87612G101
OKE	ONEOK INC	39,545	$2.907M	6.0%	$73.50	$51.97	+41.4%	COM	682680103
EPD	ENTERPRISE PRODS PART LP	71,745	$2.3M	4.7%	$32.06	$27.02	—	COM	293792107
BRK/B	BERKSHIRE HATHAWAY CLASS B	3,124	$1.57M	3.2%	$502.65	$165.93	+202.9%	CL B NEW	084670702
SPY	SPDR S&P 500 ETF	2,147	$1.464M	3.0%	$681.92	$396.68	+71.9%	TR UNIT	78462F103
TRP	TC ENERGY CORP F	24,825	$1.366M	2.8%	$55.01	$33.29	+65.2%	COM	87807B107
ENB	ENBRIDGE INC F	28,199	$1.349M	2.8%	$47.83	$24.97	+89.0%	COM	29250N105
KNTK	KINETIK HOLDINGS	36,197	$1.305M	2.7%	$36.05	$35.51	+1.5%	COM NEW CL A	02215L209
KMI	KINDER MORGAN INC	35,159	$967K	2.0%	$27.49	$12.50	+120.0%	COM	49456B101
WES	WESTERN MIDSTREAM PAR LP	23,602	$932K	1.9%	$39.50	$32.81	—	COM UNIT LP INT	958669103
MPLX	MPLX LP	17,229	$920K	1.9%	$53.37	$36.20	—	COM UNIT REP LTD	55336V100
RTX	RAYTHEON TECHNOLOGIES CO	4,697	$861K	1.8%	$183.40	$131.75	+39.2%	COM	75513E101
RSG	REPUBLIC SERVICES	3,940	$835K	1.7%	$211.93	$47.77	+342.3%	COM	760759100
PBA	PEMBINA PIPELINE CO F	20,294	$772K	1.6%	$38.06	$25.79	+47.6%	COM	706327103
WM	WASTE MANAGEMENT INC	2,836	$623K	1.3%	$219.71	$153.98	+42.7%	COM	94106L109
SOBO	SOUTH BOW CORP F	21,336	$586K	1.2%	$27.47	$27.16	+1.1%	COM	83671M105
ADP	AUTO DATA PROCESSING	2,010	$517K	1.1%	$257.23	$85.94	+199.3%	COM	053015103
LMT	KINETIK HOLDINGS	883	$427K	0.9%	$483.67	$207.71	+132.9%	COM	539830109
MCD	MCDONALDS CORP	1,394	$426K	0.9%	$305.63	$115.23	+165.2%	COM	580135101
XLP	SPDR FUND CONSUMER STAPLES ETF	4,858	$377K	0.8%	$77.68	$65.79	+18.1%	SBI CONS STPLS	81369Y308
ECL	ECOLAB INC	1,291	$339K	0.7%	$262.52	$176.78	+48.5%	COM	278865100
PAGP	PLAINS GP HLDGS	15,565	$298K	0.6%	$19.14	$21.88	—	LTD PARTNR INT A	72651A207
KO	THE COCA-COLA CO	3,300	$231K	0.5%	$69.91	$35.53	+96.7%	COM	191216100
JNJ	JOHNSON & JOHNSON	1,103	$228K	0.5%	$206.95	$169.51	+22.1%	COM	478160104
HSY	HERSHEY CO	1,234	$225K	0.5%	$181.98	$186.05	-2.2%	COM	427866108
PG	PROCTER & GAMBLE	1,541	$221K	0.5%	$143.31	$164.23	-12.7%	COM	742718109
MRK	MERCK & CO INC	1,992	$210K	0.4%	$105.26	$93.24	+12.9%	COM	58933Y105