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SL ADVISORS, LLC

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13F filer, CIK 1680365, NAPLES, FL

SL ADVISORS, LLC reported $50,816,735 across 31 holdings for the quarter ended 2025-09-30, in a 13F-HR/A filed 2026-04-15. Its ten largest share positions make up 73.31% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR/A 0001680365-26-000016

Period
2025-09-30
Reported value
$50.8M
Holdings
31
Top 10 weight
73.31%
New
1
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ETadded+52,709$904K
JNJnew+1,093$203K
LNGadded+226$53.1K
WMBadded+685$43.4K
EPDadded+907$28.4K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
NFEexited-239,399-$795K
USAIreduced-10,000-$398K
ENBreduced-7,703-$389K
OKEreduced-5,271-$385K
KMIreduced-10,824-$306K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR/A 0001680365-26-000016, largest first. % of portfolio is the value over $50,816,735, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
ETENERGY TRANSFER L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 379,324 shares; 2024Q4: 378,868 shares; 2025Q1: 378,868 shares; 2025Q2: 378,868 shares; 2025Q3: 431,577 shares 431,577$7.41M14.57%+52,709Timeline
NEXTNEXTDECADE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 823,529 shares; 2024Q4: 853,529 shares; 2025Q1: 873,779 shares; 2025Q2: 960,279 shares; 2025Q3: 927,384 shares 927,384$6.3M12.39%-32,895Timeline
WMBWILLIAMS COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 69,974 shares; 2024Q4: 69,209 shares; 2025Q1: 68,949 shares; 2025Q2: 68,949 shares; 2025Q3: 69,634 shares 69,634$4.41M8.68%+685Timeline
LNGCHENIERE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 18,209 shares; 2024Q4: 18,209 shares; 2025Q1: 18,209 shares; 2025Q2: 18,209 shares; 2025Q3: 18,435 shares 18,435$4.33M8.52%+226Timeline
USAIPACER FDS TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 95,765 shares; 2024Q4: 96,615 shares; 2025Q1: 93,315 shares; 2025Q2: 93,465 shares; 2025Q3: 83,465 shares 83,465$3.33M6.54%-10,000Timeline
TRGPTARGA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 23,786 shares; 2024Q4: 23,686 shares; 2025Q1: 18,581 shares; 2025Q2: 18,371 shares; 2025Q3: 18,452 shares 18,452$3.09M6.08%+81Timeline
OKEONEOK INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 37,790 shares; 2024Q4: 37,405 shares; 2025Q1: 46,733 shares; 2025Q2: 46,733 shares; 2025Q3: 41,462 shares 41,462$3.03M5.95%-5,271Timeline
EPDENTERPRISE PRODS PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 73,064 shares; 2024Q4: 73,064 shares; 2025Q1: 73,064 shares; 2025Q2: 73,064 shares; 2025Q3: 73,971 shares 73,971$2.31M4.55%+907Timeline
BRK-BBERKSHIRE HATHAWAY INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,916 shares; 2024Q4: 4,884 shares; 2025Q1: 4,806 shares; 2025Q2: 3,136 shares; 2025Q3: 3,129 shares 3,129$1.57M3.1%-7Timeline
ENBENBRIDGE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 38,850 shares; 2024Q4: 37,368 shares; 2025Q1: 37,044 shares; 2025Q2: 37,044 shares; 2025Q3: 29,341 shares 29,341$1.48M2.91%-7,703Timeline
SPYSTATE STR SPDR S&P 500 ETF TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 9,969 shares; 2024Q4: 9,969 shares; 2025Q1: 2,144 shares; 2025Q2: 2,147 shares; 2025Q3: 2,147 shares 2,147$1.43M2.81%0Timeline
TRPTC ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 30,175 shares; 2024Q4: 30,011 shares; 2025Q1: 29,849 shares; 2025Q2: 29,849 shares; 2025Q3: 25,651 shares 25,651$1.4M2.75%-4,198Timeline
KMIKINDER MORGAN INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 48,297 shares; 2024Q4: 47,881 shares; 2025Q1: 47,472 shares; 2025Q2: 47,472 shares; 2025Q3: 36,648 shares 36,648$1.04M2.04%-10,824Timeline
WESWESTERN MIDSTREAM PARTNERS LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 24,177 shares; 2024Q4: 24,177 shares; 2025Q1: 24,177 shares; 2025Q2: 24,177 shares; 2025Q3: 24,554 shares 24,554$965K1.9%+377Timeline
KNTKKINETIK HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,927 shares; 2024Q4: 21,927 shares; 2025Q1: 21,927 shares; 2025Q2: 21,927 shares; 2025Q3: 22,306 shares 22,306$953K1.88%+379Timeline
RSGREPUBLIC SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,466 shares; 2024Q4: 4,320 shares; 2025Q1: 4,177 shares; 2025Q2: 4,177 shares; 2025Q3: 3,935 shares 3,935$903K1.78%-242Timeline
MPLXMPLX LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 17,375 shares; 2024Q4: 17,375 shares; 2025Q1: 17,375 shares; 2025Q2: 17,375 shares; 2025Q3: 17,680 shares 17,680$883K1.74%+305Timeline
PBAPEMBINA PIPELINE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 26,577 shares; 2024Q4: 26,577 shares; 2025Q1: 26,577 shares; 2025Q2: 25,827 shares; 2025Q3: 20,987 shares 20,987$849K1.67%-4,840Timeline
RTXRTX CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,921 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,702 shares; 2025Q3: 4,676 shares 4,676$782K1.54%-26Timeline
ADPAUTOMATIC DATA PROCESSING INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,309 shares; 2024Q4: 2,246 shares; 2025Q1: 2,184 shares; 2025Q2: 2,184 shares; 2025Q3: 2,173 shares 2,173$638K1.26%-11Timeline
WMWASTE MGMT INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,235 shares; 2024Q4: 3,125 shares; 2025Q1: 7,718 shares; 2025Q2: 3,016 shares; 2025Q3: 2,825 shares 2,825$624K1.23%-191Timeline
LMTLOCKHEED MARTIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,356 shares; 2024Q4: 1,320 shares; 2025Q1: 1,235 shares; 2025Q2: 1,188 shares; 2025Q3: 976 shares 976$487K0.96%-212Timeline
MCDMCDONALDS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,685 shares; 2024Q4: 1,634 shares; 2025Q1: 1,583 shares; 2025Q2: 1,583 shares; 2025Q3: 1,576 shares 1,576$479K0.94%-7Timeline
XLPSELECT SECTOR SPDR TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,513 shares; 2024Q4: 4,849 shares; 2025Q1: 4,851 shares; 2025Q2: 4,853 shares; 2025Q3: 4,855 shares 4,855$381K0.75%+2Timeline
ECLECOLAB INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,400 shares; 2024Q4: 1,344 shares; 2025Q1: 1,288 shares; 2025Q2: 1,288 shares; 2025Q3: 1,280 shares 1,280$351K0.69%-8Timeline
PAGPPLAINS GP HLDGS L PQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 21,282 shares; 2024Q4: 21,282 shares; 2025Q1: 21,282 shares; 2025Q2: 21,282 shares; 2025Q3: 16,291 shares 16,291$297K0.58%-4,991Timeline
PGPROCTER & GAMBLE COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,320 shares; 2024Q4: 2,179 shares; 2025Q1: 2,120 shares; 2025Q2: 2,026 shares; 2025Q3: 1,530 shares 1,530$235K0.46%-496Timeline
HSYHERSHEY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,746 shares; 2024Q4: 1,626 shares; 2025Q1: 1,567 shares; 2025Q2: 1,233 shares; 2025Q3: 1,223 shares 1,223$229K0.45%-10Timeline
MKCMCCORMICK & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,712 shares; 2024Q4: 3,566 shares; 2025Q1: 3,338 shares; 2025Q2: 3,338 shares; 2025Q3: 3,323 shares 3,323$222K0.44%-15Timeline
KOCOCA COLA COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,211 shares; 2024Q4: 3,995 shares; 2025Q1: 3,872 shares; 2025Q2: 3,872 shares; 2025Q3: 3,277 shares 3,277$217K0.43%-595Timeline
JNJJOHNSON & JOHNSONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,016 shares; 2024Q4: 1,638 shares; 2025Q1: 1,392 shares; 2025Q2: not reported; 2025Q3: 1,093 shares 1,093$203K0.4%newTimeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
NFENEW FORTRESS ENERGY INC239,399$795Kshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001680365-25-000013 superseded2025-10-20acceptance time not in the bulk data set
13F-HR/A 0001680365-26-000016 baserestatement2026-04-15acceptance time not in the bulk data set