HM
Heronetta Management, L.P. 13F Portfolio Snapshot & Holdings (Q2 2026)
Heronetta Management, L.P.CIK: 0001588225
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$108.9M
Reporting period: 2026-06-30 · Number of holdings: 15
Heronetta Management, L.P. disclosed 15 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $108.9M and a quarterly turnover rate of 3.1%.
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Personality snowflake
- Concentration
- 51.53
- Portfolio Stability
- 3.15
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 30
- Sizing Uniformity
- 90.01
Heronetta Management, L.P.'s disclosed holdings carry a Herfindahl concentration index of 0.129 — mathematically equivalent to about 8 equally-sized positions, well below its 15 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 1.00), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd WES
0.0% $534.5K
Add WMB
0.0% $392.2K
Trim EPD
0.0% -$534.7K
Trim OKE
0.0% -$485.8K
Sold out CQP
Add LNG
+56.1% $222.9K
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 | WMB | Williams Cos Inc | Stock-Energy | 17.16% | +0.46% | — | |
| 2 | MPLX | Mplx LP | Stock-Energy | 16.76% | -0.12% | — | |
| 3 | EPD | Enterprise Products Partners | Stock-Energy | 16.71% | -0.39% | — | |
| 4 | ET | Energy Transfer LP | Stock-Energy | 14.03% | -0.05% | — | |
| 5 | OKE | Oneok Inc | Stock-Energy | 11.24% | -0.38% | — | |
| 6 | WES | Western Midstream Partners L | Stock-Energy | 8.29% | +0.54% | — | |
| 7 | PAGP | Plains Gp Holdings Lp-cl A | Stock-Energy | 4.03% | +0.02% | — | |
| 8 | HESM | Hess Midstream LP - Class A | Stock-Other | 3.19% | -0.09% | — | |
| 9 | KMI | Kinder Morgan, Inc. | Stock-Energy | 2.60% | -0.12% | — | |
| 10 | TRGP | Targa Resources CORP | Stock-Energy | 2.55% | +0.18% | — | |
| 11 | LNG | Cheniere Energy Inc | Stock-Energy | 0.86% | +0.21% | +56.07% | |
| 12 | ENB | Enbridge Inc | Stock-Energy | 0.77% | — | — | |
| 13 | PBA | Pembina Pipeline CORP | Stock-Energy | 0.75% | +0.03% | — | |
| 14 | TRP | Tc Energy CORP | Stock-Energy | 0.72% | +0.04% | — | |
| 15 | AM | Antero Midstream CORP | Stock-Energy | 0.35% | — | — |
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Portfolio Performance
Performance for Q3 2026
+0.8%
Performance Last 4 Quarters
+24.4%
- Stdev
- +13.9%
- Beta
- +0.4
- Alpha
- +12.3%
- Max Drawdown
- -7.1%
- Annualized Perf
- +21.8%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +2.91
- Stutzer
- +0.43
- Treynor
- +0.53
- Sterling
- +1.42
- Calmar
- +3.08
- Information Ratio
- -0.05
- Tracking Error
- +15%
- Stdev Down
- +7.2%
- Winning Months %
- +75%
- Losing Months %
- +25%
- Best 12 Months
- +40.9%
- Worst 12 Months
- +0.3%
- Efficiency Ratio
- +0.66
- Sharpe
- +1.49
- Stdev Sectors
- 0%
- Skewness
- -0.03
- Kurtosis
- +0.65
- Upside Potential
- +4.28
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 15 | $108.9M | 3 | ||
| 2026 Q1 | 16 | $109.6M | 66 | ||
| 2025 Q4 | 25 | $172.9M | 7 | ||
| 2025 Q3 | 25 | $182.6M | 12 | ||
| 2025 Q2 | 25 | $179.5M | 0 | ||
| 2025 Q1 | 24 | $183.0M | 100 | ||
| 2024 Q4 | 24 | $175.1M | 0 | ||
| 2024 Q3 | 23 | $163.6M | 0 | ||
| 2024 Q2 | 23 | $156.3M | 0 | ||
| 2024 Q1 | 23 | $154.9M | 0 | ||
| 2023 Q4 | 23 | $141.2M | 0 | ||
| 2023 Q3 | 23 | $136.3M | 0 | ||
| 2023 Q2 | 24 | $136.7M | 0 | ||
| 2023 Q1 | 24 | $136.1M | 0 | ||
| 2022 Q4 | 27 | $158.6M | 0 | ||
| 2022 Q3 | 24 | $139.5M | 0 | ||
| 2022 Q2 | 24 | $143.2M | 0 | ||
| 2022 Q1 | 25 | $154.9M | 0 | ||
| 2021 Q4 | 25 | $132.0M | 0 | ||
| 2021 Q3 | 24 | $129.8M | 0 | ||
| 2021 Q2 | 24 | $113.9M | 100 | ||
| 2021 Q1 | 24 | $119.6M | 14 | ||
| 2020 Q4 | 25 | $120.0M | 23 | ||
| 2020 Q3 | 25 | $97.0M | 22 | ||
| 2020 Q2 | 24 | $105.9M | 24 | ||
| 2020 Q1 | 23 | $83.8M | 59 | ||
| 2019 Q4 | 25 | $153.9M | 10 | ||
| 2019 Q3 | 27 | $155.4M | 9 | ||
| 2019 Q2 | 27 | $165.4M | 11 | ||
| 2019 Q1 | 28 | $180.1M | 27 | ||
| 2018 Q4 | 29 | $154.2M | 28 | ||
| 2018 Q3 | 31 | $178.6M | 24 | ||
| 2018 Q2 | 33 | $175.3M | 10 | ||
| 2018 Q1 | 31 | $165.9M | 13 | ||
| 2017 Q4 | 32 | $186.9M | 14 | ||
| 2017 Q3 | 32 | $180.5M | 11 | ||
| 2017 Q2 | 32 | $180.6M | 15 | ||
| 2017 Q1 | 34 | $199.7M | 8 | ||
| 2016 Q4 | 34 | $193.1M | 12 | ||
| 2016 Q3 | 33 | $190.6M | 8 | ||
| 2016 Q2 | 33 | $186.4M | 19 | ||
| 2016 Q1 | 34 | $156.9M | 12 | ||
| 2015 Q4 | 33 | $167.0M | 25 | ||
| 2015 Q3 | 36 | $173.0M | 34 | ||
| 2015 Q2 | 37 | $215.4M | 13 | ||
| 2015 Q1 | 37 | $216.6M | 17 | ||
| 2014 Q4 | 35 | $224.6M | 18 | ||
| 2014 Q3 | 41 | $261.2M | 13 | ||
| 2014 Q2 | 39 | $251.9M | 23 | ||
| 2014 Q1 | 38 | $215.5M | 9 | ||
| 2013 Q4 | 37 | $200.4M | 11 | ||
| 2013 Q3 | 37 | $186.9M | 8 | ||
| 2013 Q2 | 35 | $179.9M | 13 |
Holding changes this quarter
Heronetta Management, L.P.'s most significant position changes for 2026-06-30: Sold out: Cheniere Energy Partners LP (CQP); Add: Cheniere Energy Inc (LNG) — shares +56.07%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | WES | Western Midstream Partners L | +0.5% | — | Unchanged |
| 2 | WMB | Williams Cos Inc | +0.5% | — | Unchanged |
| 3 | LNG | Cheniere Energy Inc | +0.2% | +56.07% | Add |
| 4 | TRGP | Targa Resources CORP | +0.2% | — | Unchanged |
| 5 | TRP | Tc Energy CORP | 0% | — | Unchanged |
| 6 | PBA | Pembina Pipeline CORP | 0% | — | Unchanged |
| 7 | PAGP | Plains Gp Holdings Lp-cl A | 0% | — | Unchanged |
| 8 | ENB | Enbridge Inc | — | — | Unchanged |
| 9 | AM | Antero Midstream CORP | — | — | Unchanged |
| 10 | ET | Energy Transfer LP | -0.1% | — | Unchanged |
| 11 | HESM | Hess Midstream LP - Class A | -0.1% | — | Unchanged |
| 12 | MPLX | Mplx LP | -0.1% | — | Unchanged |
| 13 | KMI | Kinder Morgan, Inc. | -0.1% | — | Unchanged |
| 14 | CQP | Cheniere Energy Partners LP | -0.3% | EXIT | Sold out |
| 15 | OKE | Oneok Inc | -0.4% | — | Unchanged |
| 16 | EPD | Enterprise Products Partners | -0.4% | — | Unchanged |
Filing History
FAQ
What is Heronetta Management, L.P. and what type of investor is it?
Heronetta Management, L.P. 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 $108.9M, spread across 15 disclosed positions.
What are Heronetta Management, L.P.'s largest equity positions?
Based on the latest 13F filing, Heronetta Management, L.P.'s top holdings by market value are:
1. Williams Cos Inc (WMB) — $18.7M (17.2%)
2. Mplx LP (MPLX) — $18.3M (16.8%)
3. Enterprise Products Partners (EPD) — $18.2M (16.7%)
4. Energy Transfer LP (ET) — $15.3M (14.0%)
5. Oneok Inc (OKE) — $12.2M (11.2%)
What changes did Heronetta Management, L.P. make in its most recent portfolio filing?
In the latest reported quarter, Heronetta Management, L.P. made 2 notable position adjustments: 0 new positions were initiated, 1 existing holdings were added to, 0 positions were partially reduced, and 1 were completely exited. The largest of these moves: Sold out: Cheniere Energy Partners LP (CQP); Add: Cheniere Energy Inc (LNG) — shares +56.07%
What sectors does Heronetta Management, L.P. focus on?
Heronetta Management, L.P. is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 100.0%
Investment Profile
Heronetta Management, L.P. returned an annualized 21.8% over the trailing 36 months — outperforming the S&P 500 by 12.3 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.40 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is moderately concentrated and long-term-holding, with 100.0% of the portfolio concentrated in Energy.
Its concentration score has risen from 26 to 52 over the past 4 quarters — a shift toward higher-conviction positions.
It has added to its WMB position for two straight quarters, increasing it by $3.7M to reach $18.7M.
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Developer Access
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