Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
NEXT	NEXTDECADE	715,855 (-13.3%)	$4.546M (-27.0%)	8.9%	$6.35	$5.29	+19.9%	COM	65342K105
LNG	CHENIERE ENERGY INC	17,225 (-1.1%)	$4.634M (+11.3%)	9.0%	$269.03	$73.91	+264.0%	COM NEW	16411R208
TRP	TC ENERGY CORP F	22,873 (-6.9%)	$1.322M (-18.8%)	2.6%	$57.78	$33.29	+73.6%	COM	87807B107
ENB	ENBRIDGE INC F	26,918 (-3.5%)	$1.267M (-16.2%)	2.5%	$47.07	$24.97	+86.2%	COM	29250N105
ET	ENERGY TRANSFER LP	448,898 (-5.3%)	$8.875M (-2.1%)	17.3%	$19.77	$12.53	—	COM UT LTD PTN	29273V100
KMI	KINDER MORGAN INC	30,882 (-11.3%)	$931K (-16.3%)	1.8%	$30.15	$12.50	+141.3%	COM NEW CL A	49456B101
PBA	PEMBINA PIPELINE CO F	18,303 (-9.2%)	$816K (-12.5%)	1.6%	$44.58	$25.79	+72.9%	COM UNIT REP LTD	706327103
RSG	REPUBLIC SERVICES	2,510 (-14.1%)	$527K (-15.4%)	1.0%	$209.87	$47.77	+339.3%	COM	760759100
WM	WASTE MANAGEMENT INC	2,268 (-6.9%)	$462K (-14.8%)	0.9%	$203.92	$153.98	+32.4%	COM	94106L109
MCD	MCDONALDS CORP	1,059 (-9.1%)	$245K (-22.3%)	0.5%	$230.94	$115.23	+100.4%	COM	580135101
SOBO	SOUTH BOW CORP F	20,754 (-2.2%)	$688K (-8.1%)	1.3%	$33.13	$27.16	+22.0%	COM	83671M105
RTX	RAYTHEON TECHNOLOGIES CO	3,855 (-4.0%)	$716K (-6.1%)	1.4%	$185.65	$131.75	+40.9%	COM	75513E101
BRK/B	BERKSHIRE HATHAWAY CLASS B	3,222 (-2.3%)	$1.604M (-2.8%)	3.1%	$497.95	$207.94	+139.5%	CL B NEW	084670702
TRGP	TARGA RESOURCES CORP	17,076 (-1.6%)	$4.616M (-0.8%)	9.0%	$270.31	$37.65	+618.0%	COM NEW	87612G101
LMT	KINETIK HOLDINGS	757 (-6.7%)	$386K (-6.7%)	0.8%	$509.25	$243.42	+109.2%	COM	539830109
ECL	ECOLAB INC	1,187 (-6.5%)	$326K (-7.8%)	0.6%	$274.58	$176.78	+55.3%	COM	278865100
ADP	AUTO DATA PROCESSING	1,091 (-8.0%)	$282K (+6.0%)	0.5%	$258.06	$85.94	+200.3%	COM	053015103
PAGP	PLAINS GP HLDGS	15,084 (-2.4%)	$391K (+4.2%)	0.8%	$25.90	$21.88	—	SBI CONS STPLS	72651A207
PG	PROCTER & GAMBLE	1,419 (-6.0%)	$206K (-6.8%)	0.4%	$145.28	$164.23	-11.5%	COM	742718109
KNTK	KINETIK HOLDINGS	33,972 (-2.9%)	$1.705M (+0.9%)	3.3%	$50.20	$35.51	+41.4%	TR UNIT	02215L209
MRK	MERCK & CO. INC.	1,853 (-7.0%)	$269K (+5.2%)	0.5%	$145.31	$93.24	+55.8%	COM	58933Y105
JNJ	JOHNSON & JOHNSON	994 (-7.4%)	$263K (-3.5%)	0.5%	$264.74	$169.51	+56.2%	LTD PARTNR INT A	478160104
KO	THE COCA-COLA CO	3,021 (-5.9%)	$260K (-0.3%)	0.5%	$86.08	$38.13	+125.7%	COM	191216100

Unchanged Positions (7)

WMB WILLIAMS COMPANIES 8.5%

Value $4.336M Shares 63,791 Share Price $67.97 Est. Cost/Share $18.91 Unrealized @ Report Date +259.5%

USAI PACER AMERN ENERGY INDEPENDENCE ETF 8.1%

Value $4.144M Shares 95,560 Share Price $43.37 Est. Cost/Share $29.04 Unrealized @ Report Date +49.3%

EPD ENTERPRISE PRODS PART LP 5.0%

Value $2.55M Shares 71,351 Share Price $35.73 Est. Cost/Share $27.02 Unrealized @ Report Date —

SPY SPDR S&P 500 ETF 2.9%

Value $1.485M Shares 1,947 Share Price $762.64 Est. Cost/Share $396.68 Unrealized @ Report Date +92.3%

WES WESTERN MIDSTREAM PAR LP 2.0%

Value $1.041M Shares 23,466 Share Price $44.37 Est. Cost/Share $32.81 Unrealized @ Report Date —

XLP SPDR FUND CONSUMER STAPLES ETF 0.8%

Value $392K Shares 4,864 Share Price $80.61 Est. Cost/Share $65.79 Unrealized @ Report Date +22.5%

MPLX MPLX, LP 1.9%

Value $964K Shares 17,116 Share Price $56.32 Est. Cost/Share $36.20 Unrealized @ Report Date —

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
WMB	WILLIAMS COMPANIES	63,791	$4.336M	8.5%	$67.97	$18.91	+259.5%	COM	969457100
USAI	PACER AMERN ENERGY INDEPENDENCE ETF	95,560	$4.144M	8.1%	$43.37	$29.04	+49.3%	COM	69374H634
EPD	ENTERPRISE PRODS PART LP	71,351	$2.55M	5.0%	$35.73	$27.02	—	COM	293792107
SPY	SPDR S&P 500 ETF	1,947	$1.485M	2.9%	$762.64	$396.68	+92.3%	COM	78462F103
WES	WESTERN MIDSTREAM PAR LP	23,466	$1.041M	2.0%	$44.37	$32.81	—	COM UNIT LP INT	958669103
XLP	SPDR FUND CONSUMER STAPLES ETF	4,864	$392K	0.8%	$80.61	$65.79	+22.5%	COM	81369Y308
MPLX	MPLX, LP	17,116	$964K	1.9%	$56.32	$36.20	—	COM	55336V100