FI
Fractal Investments LLC SEC 13F Holdings (Q2 2026) — Top Position: ENERGY TRANSFER LP
Fractal Investments LLCCIK: 0001843590
Diversified strategySector-focusedMomentum follower
Total reported value
$866.9M
Reporting period: 2026-06-30 · Number of holdings: 80
Fractal Investments LLC disclosed 80 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $866.9M and a quarterly turnover rate of 11.8%.
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Personality snowflake
- Concentration
- 27.3
- Portfolio Stability
- 11.81
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 78.75
Fractal Investments LLC's disclosed holdings carry a Herfindahl concentration index of 0.068 — mathematically equivalent to about 15 equally-sized positions, well below its 80 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 2.12), with a handful of outsized bets alongside many smaller positions.
Recent activity leans toward adding more aggressively to already-large existing positions than to newly initiated ones (a 2.7 percentage-point tilt) — a pattern consistent with a momentum-following approach.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim MPLX
-18.7% -$23.1M
Add TRGP
+21.9% $12.1M
Add ET
+13.5% $11.6M
Add SUN
+10.6% $6.0M
Add SNDK
-22.7% $4.9M
Trim EPD
0.0% -$2.0M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | ET | Energy Transfer LP | Stock-Energy | 12.07% | +1.06% | +13.51% | |
| 2 | MPLX | Mplx LP | Stock-Energy | 10.84% | -3.01% | -18.68% | |
| 3 | PAA | Plains All Amer Pipeline LP | Stock-Energy | 9.31% | -0.27% | — | |
| 4 | EPD | Enterprise Products Partners | Stock-Energy | 7.79% | -0.44% | — | |
| 5 | WES | Western Midstream Partners L | Stock-Energy | 7.70% | +0.01% | -3.37% | |
| 6 | WMB | Williams Cos Inc | Stock-Energy | 7.20% | +0.19% | +3.20% | |
| 7 | TRGP | Targa Resources CORP | Stock-Energy | 5.97% | +1.27% | +21.88% | |
| 8 | SUN | Sunoco LP | Stock-Other | 5.31% | +0.57% | +10.62% | |
| 9 | TRP | Tc Energy CORP | Stock-Energy | 5.12% | +0.31% | +3.24% | |
| 10 | HESM | Hess Midstream LP - Class A | Stock-Other | 5.03% | -0.42% | -2.09% | |
| 11 | DTM | Dt Midstream Inc | Stock-Energy | 3.91% | +0.23% | — | |
| 12 | KMI | Kinder Morgan, Inc. | Stock-Energy | 3.86% | -0.29% | — | |
| 13 | LNG | Cheniere Energy Inc | Stock-Energy | 2.14% | -0.12% | +15.29% | |
| 14 | OKE | Oneok Inc | Stock-Energy | 1.57% | -0.11% | — | |
| 15 | NGL | Ngl Energy Partners LP | Stock-Other | 1.53% | +0.32% | — | |
| 16 | CQP | Cheniere Energy Partners LP | Stock-Other | 1.36% | -0.12% | — | |
| 17 | GLP | Global Partners LP | Stock-Other | 1.05% | +0.08% | — | |
| 18 | SNDK | Sandisk CORP | Stock-Tech | 0.89% | +0.56% | -22.73% | |
| 19 | AM | Antero Midstream CORP | Stock-Energy | 0.61% | +0.10% | +22.59% | |
| 20 | GEL | Genesis Energy L.p. | Stock-Other | 0.56% | -0.16% | — | |
| 21 | GEV | GE Vernova Inc | Stock-Industrials | 0.54% | +0.13% | — | |
| 22 | SPH | Suburban Propane Partners LP | Stock-Other | 0.42% | -0.08% | — | |
| 23 | ENB | Enbridge Inc | Stock-Energy | 0.42% | -0.01% | — | |
| 24 | Q | Qnity Electronics Inc | Stock-Tech | 0.38% | +0.15% | +17.65% | |
| 25 | SOLS | Solstice Adv Materials Inc | Stock-Materials | 0.29% | +0.06% | +11.95% | |
| 26 | WLKP | Westlake Chemical Partners L | Stock-Other | 0.21% | — | — | |
| 27 | CAT | Caterpillar Inc | Stock-Industrials | 0.16% | +0.12% | +203.62% | |
| 28 | NEM | Newmont CORP | Stock-Materials | 0.16% | -0.03% | — | |
| 29 | CR | Crane Co | Stock-Industrials | 0.16% | +0.06% | +28.57% | |
| 30 | KNTK | Kinetik Holdings Inc | Stock-Other | 0.15% | -0.01% | — | |
| 31 | XOM | Exxon Mobil CORP | Stock-Energy | 0.15% | -0.05% | — | |
| 32 | SMC | Summit Midstream CORP | Stock-Other | 0.15% | -0.01% | — | |
| 33 | PHIN | Phinia Inc | Stock-Consumer Disc | 0.14% | +0.02% | — | |
| 34 | CF | Cf Industries Holdings Inc | Stock-Materials | 0.13% | -0.03% | — | |
| 35 | ECG | Everus Construction Group | Stock-Industrials | 0.12% | +0.05% | +30.61% | |
| 36 | FCX | Freeport-mcmoran Inc | Stock-Materials | 0.11% | +0.01% | — | |
| 37 | SHEL | Shell Plc-adr | Stock-Energy | 0.10% | -0.03% | — | |
| 38 | SU | Suncor Energy Inc | Stock-Energy | 0.10% | -0.03% | — | |
| 39 | KEYS | Keysight Technologies In | Stock-Tech | 0.10% | +0.10% | NEW | |
| 40 | VLTO | Veralto CORP | Stock-Industrials | 0.09% | — | — | |
| 41 | RIO | Rio Tinto Plc-spon Adr | Stock-Materials | 0.09% | — | — | |
| 42 | SCCO | Southern Copper CORP | Stock-Materials | 0.09% | — | +0.98% | |
| 43 | BHP | Bhp Group Ltd-spon Adr | Stock-Materials | 0.09% | +0.01% | — | |
| 44 | AEM | Agnico Eagle Mines LTD | Stock-Materials | 0.09% | -0.03% | — | |
| 45 | RAL | Ralliant CORP | Stock-Tech | 0.08% | +0.08% | NEW | |
| 46 | PH | Parker Hannifin CORP | Stock-Industrials | 0.08% | — | — | |
| 47 | CVX | Chevron CORP | Stock-Energy | 0.08% | -0.02% | — | |
| 48 | STLD | Steel Dynamics Inc | Stock-Materials | 0.07% | +0.01% | — | |
| 49 | MLI | Mueller Industries Inc | Stock-Industrials | 0.07% | +0.01% | — | |
| 50 | B | Barrick Mining CORP | Stock-Materials | 0.07% | -0.01% | — |
1–50 of 80
Portfolio Performance
Performance for Q3 2026
+8.9%
Performance Last 4 Quarters
+33.5%
- Stdev
- +15.3%
- Beta
- +0.41
- Alpha
- +16.2%
- Max Drawdown
- -8.3%
- Annualized Perf
- +26%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +3.67
- Stutzer
- +0.48
- Treynor
- +0.59
- Sterling
- +1.83
- Calmar
- +3.15
- Information Ratio
- +0.28
- Tracking Error
- +16.3%
- Stdev Down
- +6.7%
- Winning Months %
- +69.4%
- Losing Months %
- +30.6%
- Best 12 Months
- +43%
- Worst 12 Months
- +1.9%
- Efficiency Ratio
- +0.8
- Sharpe
- +1.6
- Stdev Sectors
- +29.5%
- Skewness
- +0.61
- Kurtosis
- +2.21
- Upside Potential
- +4.97
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 80 | $866.9M | 12 | ||
| 2026 Q1 | 81 | $845.0M | 18 | ||
| 2025 Q4 | 80 | $716.2M | 8 | ||
| 2025 Q3 | 77 | $692.7M | 26 | ||
| 2025 Q2 | 76 | $701.0M | 0 | ||
| 2025 Q1 | 73 | $719.6M | 0 | ||
| 2024 Q4 | 76 | $653.5M | 0 | ||
| 2024 Q3 | 83 | $591.6M | 0 | ||
| 2024 Q2 | 82 | $574.6M | 0 | ||
| 2024 Q1 | 81 | $550.7M | 0 | ||
| 2023 Q4 | 74 | $486.2M | 0 | ||
| 2023 Q3 | 95 | $486.6M | 0 | ||
| 2023 Q2 | 103 | $449.0M | 0 | ||
| 2023 Q1 | 96 | $430.4M | 0 | ||
| 2022 Q4 | 92 | $419.6M | 0 | ||
| 2022 Q3 | 86 | $377.7M | 0 | ||
| 2022 Q2 | 68 | $304.2M | 0 | ||
| 2022 Q1 | 117 | $339.9M | 0 | ||
| 2021 Q4 | 126 | $289.3M | 0 |
Holding changes this quarter
Fractal Investments LLC's most significant position changes for 2026-06-30: Sold out: GE Healthcare Technology (GEHC); New buy: Keysight Technologies In (KEYS); New buy: Ralliant CORP (RAL); New buy: Concentra Group Holdings Par (CON); Sold out: Nutrien LTD (NTR).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | TRGP | Targa Resources CORP | +1.3% | +21.88% | Add |
| 2 | ET | Energy Transfer LP | +1.1% | +13.51% | Add |
| 3 | SUN | Sunoco LP | +0.6% | +10.62% | Add |
| 4 | SNDK | Sandisk CORP | +0.6% | -22.73% | Trim |
| 5 | NGL | Ngl Energy Partners LP | +0.3% | — | Unchanged |
| 6 | TRP | Tc Energy CORP | +0.3% | +3.24% | Add |
| 7 | DTM | Dt Midstream Inc | +0.2% | — | Unchanged |
| 8 | WMB | Williams Cos Inc | +0.2% | +3.20% | Add |
| 9 | Q | Qnity Electronics Inc | +0.2% | +17.65% | Add |
| 10 | GEV | GE Vernova Inc | +0.1% | — | Unchanged |
| 11 | CAT | Caterpillar Inc | +0.1% | +203.62% | Add |
| 12 | AM | Antero Midstream CORP | +0.1% | +22.59% | Add |
| 13 | KEYS | Keysight Technologies In | +0.1% | NEW | New buy |
| 14 | GLP | Global Partners LP | +0.1% | — | Unchanged |
| 15 | RAL | Ralliant CORP | +0.1% | NEW | New buy |
| 16 | CON | Concentra Group Holdings Par | +0.1% | NEW | New buy |
| 17 | SOLS | Solstice Adv Materials Inc | +0.1% | +11.95% | Add |
| 18 | CR | Crane Co | +0.1% | +28.57% | Add |
| 19 | SPHR | Sphere Entertainment Co | +0.1% | NEW | New buy |
| 20 | ECG | Everus Construction Group | +0.1% | +30.61% | Add |
| 21 | KEX | Kirby CORP | 0% | NEW | New buy |
| 22 | FTRE | Fortrea Holdings Inc | 0% | NEW | New buy |
| 23 | ✓ | Versigent LTD | 0% | NEW | New buy |
| 24 | GE | General Electric | 0% | NEW | New buy |
| 25 | RIG | Transocean Ltd. | 0% | NEW | New buy |
| 26 | GEF | Greif Inc-cl A | 0% | NEW | New buy |
| 27 | PHIN | Phinia Inc | 0% | — | Unchanged |
| 28 | WES | Western Midstream Partners L | 0% | -3.37% | Trim |
| 29 | STLD | Steel Dynamics Inc | 0% | — | Unchanged |
| 30 | BHP | Bhp Group Ltd-spon Adr | 0% | — | Unchanged |
| 31 | FCX | Freeport-mcmoran Inc | 0% | — | Unchanged |
| 32 | MLI | Mueller Industries Inc | 0% | — | Unchanged |
| 33 | TT | Trane Technologies plc | 0% | — | Unchanged |
| 34 | DINO | Hf Sinclair CORP | 0% | — | Unchanged |
| 35 | GGB | Gerdau SA -spon Adr | 0% | — | Unchanged |
| 36 | RS | Reliance Inc | — | — | Unchanged |
| 37 | PH | Parker Hannifin CORP | — | — | Unchanged |
| 38 | LLYVK | Liberty Live Holdings-c | — | — | Unchanged |
| 39 | FTV | Fortive CORP | — | — | Unchanged |
| 40 | MT | Arcelormittal-ny Registered | — | — | Unchanged |
| 41 | HAL | Halliburton Co | — | — | Unchanged |
| 42 | MPC | Marathon Petroleum CORP | — | — | Unchanged |
| 43 | DKL | Delek Logistics Partners LP | — | — | Unchanged |
| 44 | VLO | Valero Energy CORP | — | — | Unchanged |
| 45 | SCCO | Southern Copper CORP | — | +0.98% | Add |
| 46 | WLKP | Westlake Chemical Partners L | — | — | Unchanged |
| 47 | RIO | Rio Tinto Plc-spon Adr | — | — | Unchanged |
| 48 | FIP | Ftai Infrastructure Inc | — | — | Unchanged |
| 49 | PLD | Prologis Inc | — | — | Unchanged |
| 50 | VLTO | Veralto CORP | — | — | Unchanged |
1–50 of 91
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Filing History
FAQ
What is Fractal Investments LLC and what type of investor is it?
Fractal Investments LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $866.9M, spread across 80 disclosed positions.
What are Fractal Investments LLC's largest equity positions?
Based on the latest 13F filing, Fractal Investments LLC's top holdings by market value are:
1. Energy Transfer LP (ET) — $104.6M (12.1%)
2. Mplx LP (MPLX) — $94.0M (10.8%)
3. Plains All Amer Pipeline LP (PAA) — $80.7M (9.3%)
4. Enterprise Products Partners (EPD) — $67.5M (7.8%)
5. Western Midstream Partners L (WES) — $66.7M (7.7%)
What changes did Fractal Investments LLC make in its most recent portfolio filing?
In the latest reported quarter, Fractal Investments LLC made 38 notable position adjustments: 10 new positions were initiated, 13 existing holdings were added to, 4 positions were partially reduced, and 11 were completely exited. The largest of these moves: Sold out: GE Healthcare Technology (GEHC); New buy: Keysight Technologies In (KEYS); New buy: Ralliant CORP (RAL); New buy: Concentra Group Holdings Par (CON); Sold out: Nutrien LTD (NTR)
What sectors does Fractal Investments LLC focus on?
Fractal Investments LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 94.6%
• Information Technology: 1.9%
• Industrials: 1.6%
• Materials: 1.5%
• Consumer Discretionary: 0.2%
• Utilities: 0.1%
Investment Profile
Fractal Investments LLC returned an annualized 26.0% over the trailing 36 months — outperforming the S&P 500 by 16.2 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.41 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is broadly diversified and long-term-holding, with 94.6% of the portfolio concentrated in Energy.
It has added to its ET position over the past two quarters (+$25.5M, now $104.6M), while trimming CEG over the same stretch (-$914.8K, still holding $493.0K).
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Developer Access
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REST API
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