# EDGAR Filing Document

**Accession Number:** 0001803146
**File Stem:** 0001420506-25-001857
**Filing Date:** 2025-8
**Character Count:** 18072
**Document Hash:** 592e70eae2af08785f4a87fe8518919c
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001420506-25-001857.hdr.sgml**: 20250812

**ACCESSION NUMBER**: 0001420506-25-001857

**CONFORMED SUBMISSION TYPE**: N-PX

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250812

**EFFECTIVENESS DATE**: 20250812

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Recurrent Investment Advisors LLC
- **CENTRAL INDEX KEY:** 0001803146

**ORGANIZATION NAME:**
- **EIN:** 821320743
- **STATE OF INCORPORATION:** TX
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-PX
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-20078
- **FILM NUMBER:** 251205661

**BUSINESS ADDRESS:**
- **STREET 1:** 3801 KIRBY DRIVE
- **STREET 2:** SUITE 654
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77098-4100
- **BUSINESS PHONE:** (831) 241-5902

**MAIL ADDRESS:**
- **STREET 1:** 3801 KIRBY DRIVE
- **STREET 2:** SUITE 654
- **CITY:** HOUSTON
- **STATE:** TX
- **ZIP:** 77098-4100

## FORM N-PX
### ANNUAL REPORT OF PROXY VOTING RECORD

## N-PX: Filer Information

**Filer CIK:** 0001803146

**Date of Report:** 06/30/2025

**Are you a Registered Management Investment Company or an Institutional Manager?:** Institutional Manager

**Is this a LIVE or TEST Filing?:** LIVE

**Is this an electronic copy of an official filing submitted in paper format?:** [ ]

### Submission Contact Information
_Not provided in this filing._

### Notification Information
**Notify via Filing Website only?:** [ ]

## N-PX: Cover Page

**Name of reporting person:** Recurrent Investment Advisors LLC

**Address:** 3801 KIRBY DRIVE, HOUSTON, TX 77098-4100

**Telephone number:** (831) 241-5902

**Name of agent for service:** —

**Agent Address:** —, —, — —

**Reporting Period:** Report for the year ended 06/30/2025

**SEC File Number:** 028-20078

**CRD Number (if any):** —

**Other SEC File Number (if any):** —

**LEI (if any):** —

**Report Type (check only one):**

Institutional Manager.

- [x] Institutional Manager Voting Report

- [ ] Institutional Manager Notice Report

- [ ] Institutional Manager Combination Report

Registered Management Investment Company.

- [ ] Fund Voting Report

- [ ] Fund Notice Report

**Do you wish to provide explanatory information pursuant to Special Instruction B.4?:**

- [x] No

- [ ] Yes

**Additional information:** —

## N-PX: Summary - Included Managers

**Number of Included Institutional Managers:** 0

**Included Institutional Managers:** —

## FORM N-PX PROXY VOTING RECORD

| NAME OF ISSUER                     | CUSIP     | MEETING DATE   | VOTE DESCRIPTION   | VOTE CATEGORY                |   SHARES VOTED |   SHARES ON LOAN | HOW VOTED   |   SHARES VOTED FOR OR AGAINST MANAGEMENT | FOR OR AGAINST MANAGEMENT   | OTHER INFO   |
|:---|:---|:---|:---|:---|---:|---:|:---|---:|:---|:---|
| ALBEMARLE CORPORATION              | 012653101 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           7554 |                0 | FOR         |                                     7554 | FOR                         |  |
| ALCOA CORPORATION                  | 013872106 | 05/08/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          53217 |                0 | FOR         |                                    53217 | FOR                         |  |
| ALTAGAS LTD.                       | 021361100 | 05/01/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          60297 |                0 | FOR         |                                    60297 | FOR                         |  |
| ARCHER-DANIELS-MIDLAND COMPANY     | 039483102 | 05/08/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           7073 |                0 | FOR         |                                     7073 | FOR                         |  |
| BARRICK GOLD CORPORATION           | 067901108 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         176977 |                0 | FOR         |                                   176977 | FOR                         |  |
| CAMECO CORPORATION                 | 13321L108 | 05/09/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           6746 |                0 | FOR         |                                     6746 | FOR                         |  |
| CANADIAN NATURAL RESOURCES LIMITED | 136385101 | 05/08/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          59020 |                0 | FOR         |                                    59020 | FOR                         |  |
| CENOVUS ENERGY INC.                | 15135U109 | 05/08/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        4890996 |                0 | FOR         |                                  4890996 | FOR                         |  |
| CF INDUSTRIES HOLDINGS, INC.       | 125269100 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           7740 |                0 | FOR         |                                     7740 | FOR                         |  |
| CHENIERE ENERGY, INC.              | 16411R208 | 05/15/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         371838 |                0 | FOR         |                                   371838 | FOR                         |  |
| CHEVRON CORPORATION                | 166764100 | 05/28/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          21153 |                0 | FOR         |                                    21153 | FOR                         |  |
| CONOCOPHILLIPS                     | 20825C104 | 05/13/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          33171 |                0 | FOR         |                                    33171 | FOR                         |  |
| CONSTELLATION ENERGY CORP          | 21037T109 | 04/29/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           1949 |                0 | FOR         |                                     1949 | FOR                         |  |
| CROWN HOLDINGS, INC.               | 228368106 | 05/01/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           6446 |                0 | FOR         |                                     6446 | FOR                         |  |
| DARLING INGREDIENTS INC.           | 237266101 | 05/07/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          29232 |                0 | FOR         |                                    29232 | FOR                         |  |
| DIAMONDBACK ENERGY, INC.           | 25278X109 | 05/21/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           9670 |                0 | FOR         |                                     9670 | FOR                         |  |
| DOW INC.                           | 260557103 | 04/10/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          26698 |                0 | FOR         |                                    26698 | FOR                         |  |
| DT MIDSTREAM, INC.                 | 23345M107 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         349782 |                0 | FOR         |                                   349782 | FOR                         |  |
| ENBRIDGE INC.                      | 29250N105 | 05/07/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         462952 |                0 | FOR         |                                   462952 | FOR                         |  |
| EOG RESOURCES, INC.                | 26875P101 | 05/21/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           4633 |                0 | FOR         |                                     4633 | FOR                         |  |
| EQUITRANS MIDSTREAM CORPORATION    | 294600101 | 07/18/2024     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        1684613 |                0 | FOR         |                                  1684613 | FOR                         |  |
| EXPAND ENERGY CORPORATION          | 165167735 | 06/05/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           9647 |                0 | FOR         |                                     9647 | FOR                         |  |
| EXXON MOBIL CORPORATION            | 30231G102 | 05/28/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          52087 |                0 | FOR         |                                    52087 | FOR                         |  |
| FMC CORPORATION                    | 302491303 | 04/29/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          13475 |                0 | FOR         |                                    13475 | FOR                         |  |
| FREEPORT-MCMORAN INC.              | 35671D857 | 06/11/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          73206 |                0 | FOR         |                                    73206 | FOR                         |  |
| GIBSON ENERGY INC.                 | 374825206 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          34131 |                0 | FOR         |                                    34131 | FOR                         |  |
| HALLIBURTON COMPANY                | 406216101 | 05/21/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          72183 |                0 | FOR         |                                    72183 | FOR                         |  |
| HESS CORPORATION                   | 42809H107 | 05/14/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          17026 |                0 | FOR         |                                    17026 | FOR                         |  |
| KEYERA CORP.                       | 493271100 | 05/15/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          77103 |                0 | FOR         |                                    77103 | FOR                         |  |
| KINDER MORGAN, INC.                | 49456B101 | 05/15/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        1883529 |                0 | FOR         |                                  1883529 | FOR                         |  |
| MARATHON PETROLEUM CORPORATION     | 56585A102 | 04/30/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         183227 |                0 | FOR         |                                   183227 | FOR                         |  |
| MARTIN MARIETTA MATERIALS, INC.    | 573284106 | 05/15/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           1007 |                0 | FOR         |                                     1007 | FOR                         |  |
| MATADOR RESOURCES COMPANY          | 576485205 | 06/12/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          29795 |                0 | FOR         |                                    29795 | FOR                         |  |
| MURPHY USA INC.                    | 626755102 | 05/01/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           1490 |                0 | FOR         |                                     1490 | FOR                         |  |
| NEWMONT CORPORATION                | 651639106 | 04/30/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          53213 |                0 | FOR         |                                    53213 | FOR                         |  |
| NUCOR CORPORATION                  | 670346105 | 05/08/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          21085 |                0 | FOR         |                                    21085 | FOR                         |  |
| NUTRIEN LTD.                       | 67077M108 | 05/07/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          49908 |                0 | FOR         |                                    49908 | FOR                         |  |
| ONEOK, INC.                        | 682680103 | 05/21/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         676541 |                0 | FOR         |                                   676541 | FOR                         |  |
| PBF ENERGY INC.                    | 693186106 | 04/29/2025     | Say When on Pay    | SECTION 14A SAY-ON-PAY VOTES |        1456344 |                0 | 1 Year      |                                  1456344 | FOR                         |  |
| PBF ENERGY INC.                    | 693186106 | 04/29/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        1456344 |                0 | FOR         |                                  1456344 | FOR                         |  |
| PEMBINA PIPELINE CORPORATION       | 706327103 | 05/09/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        1980214 |                0 | FOR         |                                  1980214 | FOR                         |  |
| PHILLIPS 66                        | 718546104 | 05/21/2025     | Say When on Pay    | SECTION 14A SAY-ON-PAY VOTES |         415136 |                0 | 1 Year      |                                   415136 | FOR                         |  |
| PHILLIPS 66                        | 718546104 | 05/21/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         415136 |                0 | FOR         |                                   415136 | FOR                         |  |
| PLAINS GP HOLDINGS, L.P.           | 72651A207 | 05/21/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        2697824 |                0 | FOR         |                                  2697824 | FOR                         |  |
| SEALED AIR CORPORATION             | 81211K100 | 05/29/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          89752 |                0 | FOR         |                                    89752 | FOR                         |  |
| SMURFIT WESTROCK PLC               | G8267P108 | 05/02/2025     | Say When on Pay    | SECTION 14A SAY-ON-PAY VOTES |          38020 |                0 | 1 Year      |                                    38020 | FOR                         |  |
| SMURFIT WESTROCK PLC               | G8267P108 | 05/02/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          38020 |                0 | FOR         |                                    38020 | FOR                         |  |
| SOUTH BOW CORPORATION              | 83671M105 | 05/15/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        1753626 |                0 | FOR         |                                  1753626 | FOR                         |  |
| SUMMIT MATERIALS, INC.             | 86614U100 | 02/05/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           6548 |                0 | FOR         |                                     6548 | FOR                         |  |
| SUNCOR ENERGY INC.                 | 867224107 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |        1785048 |                0 | FOR         |                                  1785048 | FOR                         |  |
| TARGA RESOURCES CORP.              | 87612G101 | 05/20/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         357278 |                0 | FOR         |                                   357278 | FOR                         |  |
| TC ENERGY CORPORATION              | 87807B107 | 05/08/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         223626 |                0 | FOR         |                                   223626 | FOR                         |  |
| TECK RESOURCES LIMITED             | 878742204 | 04/24/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          47009 |                0 | FOR         |                                    47009 | FOR                         |  |
| THE MOSAIC COMPANY                 | 61945C103 | 05/29/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          24885 |                0 | FOR         |                                    24885 | FOR                         |  |
| THE WILLIAMS COMPANIES, INC.       | 969457100 | 04/29/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         849155 |                0 | FOR         |                                   849155 | FOR                         |  |
| TOTAL ENERGIES SE                  | 89151E109 | 05/23/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          14988 |                0 | FOR         |                                    14988 | FOR                         |  |
| UNITED STATES STEEL CORPORATION    | 912909108 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          33176 |                0 | FOR         |                                    33176 | FOR                         |  |
| VALERO ENERGY CORPORATION          | 91913Y100 | 05/06/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         178346 |                0 | FOR         |                                   178346 | FOR                         |  |
| VIPER ENERGY, INC.                 | 927959106 | 05/20/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |         344758 |                0 | FOR         |                                   344758 | FOR                         |  |
| VISTRA CORP.                       | 92840M102 | 04/30/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |           3720 |                0 | FOR         |                                     3720 | FOR                         |  |
| WEYERHAEUSER COMPANY               | 962166104 | 05/09/2025     | Say on Pay         | SECTION 14A SAY-ON-PAY VOTES |          23968 |                0 | FOR         |                                    23968 | FOR                         |  |

## N-PX: Signature Block

**Reporting Person:** Recurrent Investment Advisors LLC

**By (Signature):** Bradley R. Olsen

**By (Printed Signature):** Bradley R. Olsen

**By (Title):** Co-Founder and Chief Compliance Officer

**Date:** 08/12/2025