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 Est. Cost $11.77 Unrealized —

NEXT NEXTDECADE 10.0%

Value $4.864M Shares 922,889 Est. Cost $5.27 Unrealized +13.2%

WMB WILLIAMS COMPANIES 8.2%

Value $4.003M Shares 66,598 Est. Cost $18.91 Unrealized +217.7%

USAI PACER AMERN ENERGY INDEPENDENCE ETF 7.5%

Value $3.658M Shares 95,895 Est. Cost $28.87 Unrealized —

LNG CHENIERE ENERGY INC 7.1%

Value $3.452M Shares 17,756 Est. Cost $73.91 Unrealized +184.1%

TRGP TARGA RESOURCES CORP 6.8%

Value $3.302M Shares 17,895 Est. Cost $37.65 Unrealized +346.4%

OKE ONEOK INC 6.0%

Value $2.907M Shares 39,545 Est. Cost $51.97 Unrealized +35.6%

EPD ENTERPRISE PRODS PART LP 4.7%

Value $2.3M Shares 71,745 Est. Cost $27.02 Unrealized —

BRK/B BERKSHIRE HATHAWAY CLASS B 3.2%

Value $1.57M Shares 3,124 Est. Cost $165.93 Unrealized +199.8%

SPY SPDR S&P 500 ETF 3.0%

Value $1.464M Shares 2,147 Est. Cost $399.90 Unrealized —

TRP TC ENERGY CORP F 2.8%

Value $1.366M Shares 24,825 Est. Cost $33.29 Unrealized +60.3%

ENB ENBRIDGE INC F 2.8%

Value $1.349M Shares 28,199 Est. Cost $24.97 Unrealized +88.6%

KNTK KINETIK HOLDINGS 2.7%

Value $1.305M Shares 36,197 Est. Cost $35.51 Unrealized +1.7%

KMI KINDER MORGAN INC 2.0%

Value $967K Shares 35,159 Est. Cost $12.50 Unrealized +115.3%

WES WESTERN MIDSTREAM PAR LP 1.9%

Value $932K Shares 23,602 Est. Cost $32.81 Unrealized —

MPLX MPLX LP 1.9%

Value $920K Shares 17,229 Est. Cost $36.20 Unrealized —

RTX RAYTHEON TECHNOLOGIES CO 1.8%

Value $861K Shares 4,697 Est. Cost $131.75 Unrealized +31.6%

RSG REPUBLIC SERVICES 1.7%

Value $835K Shares 3,940 Est. Cost $47.77 Unrealized +349.2%

PBA PEMBINA PIPELINE CO F 1.6%

Value $772K Shares 20,294 Est. Cost $25.79 Unrealized +49.1%

WM WASTE MANAGEMENT INC 1.3%

Value $623K Shares 2,836 Est. Cost $153.98 Unrealized +38.0%

SOBO SOUTH BOW CORP F 1.2%

Value $586K Shares 21,336 Est. Cost $27.16 Unrealized 0.0%

ADP AUTO DATA PROCESSING 1.1%

Value $517K Shares 2,010 Est. Cost $85.94 Unrealized +208.2%

LMT KINETIK HOLDINGS 0.9%

Value $427K Shares 883 Est. Cost $207.71 Unrealized +129.3%

MCD MCDONALDS CORP 0.9%

Value $426K Shares 1,394 Est. Cost $115.23 Unrealized +164.8%

XLP SPDR FUND CONSUMER STAPLES ETF 0.8%

Value $377K Shares 4,858 Est. Cost $67.29 Unrealized —

ECL ECOLAB INC 0.7%

Value $339K Shares 1,291 Est. Cost $176.78 Unrealized +50.3%

PAGP PLAINS GP HLDGS 0.6%

Value $298K Shares 15,565 Est. Cost $21.88 Unrealized —

KO THE COCA-COLA CO 0.5%

Value $231K Shares 3,300 Est. Cost $35.53 Unrealized +95.3%

JNJ JOHNSON & JOHNSON 0.5%

Value $228K Shares 1,103 Est. Cost $169.51 Unrealized +16.2%

HSY HERSHEY CO 0.5%

Value $225K Shares 1,234 Est. Cost $186.05 Unrealized -2.1%

PG PROCTER & GAMBLE 0.5%

Value $221K Shares 1,541 Est. Cost $164.23 Unrealized -10.4%

MRK MERCK & CO INC 0.4%

Value $210K Shares 1,992 Est. Cost $93.24 Unrealized 0.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
ET	ENERGY TRANSFER LP	442,978	$7.305M	15.0%	$11.77	—	COM UT LTD PTN	29273V100
NEXT	NEXTDECADE	922,889	$4.864M	10.0%	$5.27	+13.2%	COM	65342K105
WMB	WILLIAMS COMPANIES	66,598	$4.003M	8.2%	$18.91	+217.7%	COM	969457100
USAI	PACER AMERN ENERGY INDEPENDENCE ETF	95,895	$3.658M	7.5%	$28.87	—	COM	69374H634
LNG	CHENIERE ENERGY INC	17,756	$3.452M	7.1%	$73.91	+184.1%	COM NEW	16411R208
TRGP	TARGA RESOURCES CORP	17,895	$3.302M	6.8%	$37.65	+346.4%	COM	87612G101
OKE	ONEOK INC	39,545	$2.907M	6.0%	$51.97	+35.6%	COM	682680103
EPD	ENTERPRISE PRODS PART LP	71,745	$2.3M	4.7%	$27.02	—	COM	293792107
BRK/B	BERKSHIRE HATHAWAY CLASS B	3,124	$1.57M	3.2%	$165.93	+199.8%	CL B NEW	084670702
SPY	SPDR S&P 500 ETF	2,147	$1.464M	3.0%	$399.90	—	TR UNIT	78462F103
TRP	TC ENERGY CORP F	24,825	$1.366M	2.8%	$33.29	+60.3%	COM	87807B107
ENB	ENBRIDGE INC F	28,199	$1.349M	2.8%	$24.97	+88.6%	COM	29250N105
KNTK	KINETIK HOLDINGS	36,197	$1.305M	2.7%	$35.51	+1.7%	COM NEW CL A	02215L209
KMI	KINDER MORGAN INC	35,159	$967K	2.0%	$12.50	+115.3%	COM	49456B101
WES	WESTERN MIDSTREAM PAR LP	23,602	$932K	1.9%	$32.81	—	COM UNIT LP INT	958669103
MPLX	MPLX LP	17,229	$920K	1.9%	$36.20	—	COM UNIT REP LTD	55336V100
RTX	RAYTHEON TECHNOLOGIES CO	4,697	$861K	1.8%	$131.75	+31.6%	COM	75513E101
RSG	REPUBLIC SERVICES	3,940	$835K	1.7%	$47.77	+349.2%	COM	760759100
PBA	PEMBINA PIPELINE CO F	20,294	$772K	1.6%	$25.79	+49.1%	COM	706327103
WM	WASTE MANAGEMENT INC	2,836	$623K	1.3%	$153.98	+38.0%	COM	94106L109
SOBO	SOUTH BOW CORP F	21,336	$586K	1.2%	$27.16	0.0%	COM	83671M105
ADP	AUTO DATA PROCESSING	2,010	$517K	1.1%	$85.94	+208.2%	COM	053015103
LMT	KINETIK HOLDINGS	883	$427K	0.9%	$207.71	+129.3%	COM	539830109
MCD	MCDONALDS CORP	1,394	$426K	0.9%	$115.23	+164.8%	COM	580135101
XLP	SPDR FUND CONSUMER STAPLES ETF	4,858	$377K	0.8%	$67.29	—	SBI CONS STPLS	81369Y308
ECL	ECOLAB INC	1,291	$339K	0.7%	$176.78	+50.3%	COM	278865100
PAGP	PLAINS GP HLDGS	15,565	$298K	0.6%	$21.88	—	LTD PARTNR INT A	72651A207
KO	THE COCA-COLA CO	3,300	$231K	0.5%	$35.53	+95.3%	COM	191216100
JNJ	JOHNSON & JOHNSON	1,103	$228K	0.5%	$169.51	+16.2%	COM	478160104
HSY	HERSHEY CO	1,234	$225K	0.5%	$186.05	-2.1%	COM	427866108
PG	PROCTER & GAMBLE	1,541	$221K	0.5%	$164.23	-10.4%	COM	742718109
MRK	MERCK & CO INC	1,992	$210K	0.4%	$93.24	0.0%	COM	58933Y105