ENERGY TRANSFER L P ET
COM UT LTD PTN · MLP · CUSIP 29273V100 · ISIN US29273V1008
- SectorUtilities
- IndustryNatural Gas Transmission
- HeadquartersDallas, TX
- Websiteenergytransfer.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($28.8m this quarter). Holder counts are more reliable. Implied quarter-end price ≈ $19.30. Options: 18 managers hold calls ($771.3m notional), 12 hold puts ($181.9m).
Trends to Q1 2026
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 853 |
| Q4 2022 | 914 |
| Q1 2023 | 932 |
| Q2 2023 | 955 |
| Q3 2023 | 965 |
| Q4 2023 | 1,056 |
| Q1 2024 | 1,059 |
| Q2 2024 | 1,081 |
| Q3 2024 | 1,101 |
| Q4 2024 | 1,207 |
| Q1 2025 | 1,217 |
| Q2 2025 | 1,237 |
| Q3 2025 | 1,227 |
| Q4 2025 | 1,259 |
| Q1 2026 | 1,301 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q2 2024 | 525 | 311 |
| Q3 2024 | 569 | 311 |
| Q4 2024 | 574 | 338 |
| Q1 2025 | 590 | 402 |
| Q2 2025 | 646 | 376 |
| Q3 2025 | 614 | 393 |
| Q4 2025 | 583 | 445 |
| Q1 2026 | 647 | 408 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q2 2025 | $681.8m | $379.8m | 0.56 |
| Q3 2025 | $641.5m | $377.8m | 0.59 |
| Q4 2025 | $543.0m | $221.0m | 0.41 |
| Q1 2026 | $771.3m | $181.9m | 0.24 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +35.5m |
| WESTWOOD HOLDINGS GROUP INC | Added | +16.7m |
| GOLDMAN SACHS GROUP INC | Added | +8.8m |
| BARCLAYS PLC | Added | +7.4m |
| Blackstone Inc. | Added | +5.3m |
| MIZUHO MARKETS AMERICAS LLC | New | +3.2m |
| VICTORY CAPITAL MANAGEMENT INC | Added | +2.1m |
| ALPS ADVISORS INC | Added | +2.1m |
| FMR LLC | Added | +1.7m |
| BANK OF AMERICA CORP /DE/ | Added | +1.7m |
Biggest sellers
| First Reserve GP XIII Ltd | Sold out | -23.3m |
| ABRAMS CAPITAL MANAGEMENT, L.P. | Sold out | -6.1m |
| HSBC HOLDINGS PLC | Sold out | -5.1m |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -4.6m |
| BANK OF MONTREAL /CAN/ | Reduced | -2.7m |
| Jump Financial, LLC | Reduced | -2.6m |
| Corient Private Wealth LP | Reduced | -2.1m |
| BNP PARIBAS FINANCIAL MARKETS | Reduced | -1.7m |
| RBF Capital, LLC | Reduced | -1.0m |
| LONGFELLOW INVESTMENT MANAGEMENT CO LLC | Reduced | -839.5k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $242.1m12.5m shares |
| Long Focus Capital Management, LLC | Added | $125.4m6.5m shares |
| GROUP ONE TRADING LLC | Reduced | $92.7m4.8m shares |
| JANE STREET GROUP, LLC | Added | $71.7m3.7m shares |
| SIMPLEX TRADING, LLC | Reduced | $71.1m3.7m shares |
| CITADEL ADVISORS LLC | Added | $60.6m3.1m shares |
| IMC-Chicago, LLC | Added | $37.2m1.9m shares |
| PEAK6 LLC | Added | $25.1m1.3m shares |
| Caption Management, LLC | Added | $23.2m1.2m shares |
| Truffle Hound Capital, LLC | Reduced | $9.7m500.0k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $57.0m3.0m shares |
| JANE STREET GROUP, LLC | Added | $44.9m2.3m shares |
| CITADEL ADVISORS LLC | Reduced | $31.6m1.6m shares |
| GROUP ONE TRADING LLC | Reduced | $20.1m1.0m shares |
| IMC-Chicago, LLC | Added | $14.5m749.9k shares |
| SIMPLEX TRADING, LLC | Reduced | $7.1m366.5k shares |
| HRT FINANCIAL LP | Added | $3.7m190.4k shares |
| NOMURA HOLDINGS INC | New | $1.9m100.0k shares |
| PEAK6 LLC | New | $822.2k42.6k shares |
| CenterStar Asset Management, LLC | Reduced | $335.8k17.4k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Insider purchases and sales in Q1 2026
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 3 | $47.7m | 0 | — | — |
| Q4 2024 | 0 | — | 0 | — | — |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 0 | — | 1 | $25.3k | — |
| Q3 2025 | 1 | $34.7m | 0 | — | — |
| Q4 2025 | 1 | $33.8m | 0 | — | — |
| Q1 2026 | 0 | — | 0 | — | — |
None reported in Q1 2026.
Holders, Q1 2026
| Manager | Shares | Change |
|---|---|---|
| MORGAN STANLEY 0.10% of their portfolio | 87.2m $1.7bn | Added +920.1k |
| ALPS ADVISORS INC 7.81% of their portfolio | 86.0m $1.7bn | Added +2.1m |
| JPMORGAN CHASE & CO 0.10% of their portfolio | 72.2m $1.4bn | Added +35.5m |
| GOLDMAN SACHS GROUP INC 0.15% of their portfolio | 60.4m $1.2bn | Added +8.8m |
| Invesco Ltd. 0.11% of their portfolio | 56.1m $1.1bn | Added +1.1m |
| TORTOISE CAPITAL ADVISORS, L.L.C. 7.93% of their portfolio | 39.5m $761.6m | Added +787.0k |
| Blackstone Inc. 2.46% of their portfolio | 31.1m $600.6m | Added +5.3m |
| UBS Group AG 0.11% of their portfolio | 31.0m $597.8m | Reduced -514.4k |
| BANK OF AMERICA CORP /DE/ 0.04% of their portfolio | 31.0m $597.5m | Added +1.7m |
| Energy Income Partners, LLC 7.83% of their portfolio | 25.2m $486.5m | Added +49.4k |
| KAYNE ANDERSON CAPITAL ADVISORS LP 9.09% of their portfolio | 24.6m $474.4m | Added +627.4k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.63% of their portfolio | 23.9m $461.2m | Added +1.3m |
| FMR LLC 0.02% of their portfolio | 23.8m $458.5m | Added +1.7m |
| NATIXIS 1.65% of their portfolio | 21.4m $412.6m | Added +894.6k |
| WESTWOOD HOLDINGS GROUP INC 2.39% of their portfolio | 17.0m $327.8m | Added +16.7m |
| NEUBERGER BERMAN GROUP LLC 0.23% of their portfolio | 15.8m $305.7m | Reduced -109.0k |
| CHICKASAW CAPITAL MANAGEMENT LLC 10.57% of their portfolio | 15.5m $299.0m | Reduced -1.9k |
| CIBC Bancorp USA Inc. 0.35% of their portfolio | 13.5m $260.6m | First filing |
| COOPERMAN LEON G 8.43% of their portfolio | 13.3m $257.1m | Unchanged |
| Clearbridge Investments, LLC 0.22% of their portfolio | 13.1m $253.0m | Added +93.1k |
| WELLS FARGO & COMPANY/MN 0.05% of their portfolio | 12.5m $241.8m | Reduced -221.0k |
| BNP PARIBAS FINANCIAL MARKETS 0.14% of their portfolio | 11.0m $212.9m | Reduced -1.7m |
| BARCLAYS PLC 0.07% of their portfolio | 9.9m $190.7m | Added +7.4m |
| BERKLEY W R CORP 8.55% of their portfolio | 8.2m $159.2m | Unchanged |
| CUSHING ASSET MANAGEMENT, LP dba NXG INVESTMENT MANAGEMENT 7.68% of their portfolio | 8.0m $154.4m | Added +6.0k |
| RAYMOND JAMES FINANCIAL INC 0.05% of their portfolio | 7.8m $151.3m | Added +391.8k |
| LPL Financial LLC 0.04% of their portfolio | 7.1m $137.8m | Reduced -554.4k |
| STIFEL FINANCIAL CORP 0.12% of their portfolio | 6.7m $129.1m | Added +253.4k |
| EAGLE GLOBAL ADVISORS LLC 4.49% of their portfolio | 6.5m $124.7m | Reduced -52.3k |
| Brookfield Corp /ON/ 0.17% of their portfolio | 6.4m $124.4m | Reduced -618.1k |
| Patient Capital Management, LLC 4.38% of their portfolio | 6.1m $117.5m | Added +815.3k |
| Recurrent Investment Advisors LLC 6.46% of their portfolio | 5.6m $107.4m | Added +211.0k |
| Garrett Wealth Advisory Group, LLC 18.81% of their portfolio | 5.5m $105.8m | Added +498 |
| Stephens Group, LLC 61.27% of their portfolio | 5.4m $105.1m | Reduced -129.7k |
| CITIGROUP INC 0.07% of their portfolio | 5.4m $103.9m | Added +530.9k |
| MILLER HOWARD INVESTMENTS INC /NY 2.75% of their portfolio | 5.2m $100.7m | Reduced -12.3k |
| Rockefeller Capital Management L.P. 0.18% of their portfolio | 5.1m $99.1m | Added +592.6k |
| COMMERCE BANK 0.47% of their portfolio | 5.0m $97.1m | Added +36.3k |
| Fractal Investments LLC 11.01% of their portfolio | 4.8m $93.0m | Added +22.5k |
| HRT FINANCIAL LP 0.30% of their portfolio | 4.3m $83.9m | Added +889.5k |
| DUFF & PHELPS INVESTMENT MANAGEMENT CO 0.87% of their portfolio | 4.3m $83.9m | Added +580.9k |
| INFRASTRUCTURE CAPITAL ADVISORS, LLC 7.69% of their portfolio | 4.2m $81.9m | Added +1.2m |
| BlackRock, Inc. 0.00% of their portfolio | 4.0m $77.2m | Added +35.6k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 4.0m $76.9m | Reduced -759.3k |
| COHEN & STEERS, INC. 0.12% of their portfolio | 3.6m $68.5m | Added +498.5k |
| Chicago Partners Investment Group LLC 1.46% of their portfolio | 3.4m $65.5m | Added +51.2k |
| Employees Retirement System of Texas 0.57% of their portfolio | 3.3m $64.7m | Added +515.8k |
| Long Focus Capital Management, LLC 2.83% of their portfolio | 3.3m $64.5m | Unchanged |
| Americana Partners, LLC 1.62% of their portfolio | 3.2m $62.4m | Added +46.7k |
| MIZUHO MARKETS AMERICAS LLC 1.71% of their portfolio | 3.2m $61.8m | New |
| Pinnacle Wealth Planning Services, Inc. 6.13% of their portfolio | 3.1m $59.3m | Reduced -761.0k |
| Maryland State Retirement & Pension System 1.12% of their portfolio | 2.8m $55.0m | Reduced -130.0k |
| OSAIC HOLDINGS, INC. 0.08% of their portfolio | 2.8m $54.9m | Reduced -10.1k |
| HighTower Advisors, LLC 0.06% of their portfolio | 2.8m $54.4m | Added +99.0k |
| Progeny 3, Inc. 2.83% of their portfolio | 2.7m $53.0m | Reduced -131.6k |
| Allianz Asset Management GmbH 0.06% of their portfolio | 2.7m $51.2m | Added +498.0k |
| Philosophy Capital Management LLC 5.10% of their portfolio | 2.3m $43.8m | Reduced -415.7k |
| LONGFELLOW INVESTMENT MANAGEMENT CO LLC 8.80% of their portfolio | 2.2m $42.2m | Reduced -839.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.03% of their portfolio | 2.2m $41.7m | Added +2.1m |
| Cambridge Investment Research Advisors, Inc. 0.11% of their portfolio | 2.1m $41.1m | Added +120.1k |
| Cetera Investment Advisers 0.04% of their portfolio | 2.1m $40.9m | Reduced -67.7k |
| SG Americas Securities, LLC 0.04% of their portfolio | 2.1m $40.0m | Added +132.8k |
| WALNUT PRIVATE EQUITY PARTNERS, LLC 21.79% of their portfolio | 2.0m $39.5m | Unchanged |
| Northside Capital Management, LLC 3.41% of their portfolio | 2.0m $38.8m | Reduced -96.8k |
| Zurich Insurance Group Ltd/FI 0.30% of their portfolio | 2.0m $38.4m | Unchanged |
| Empowered Funds, LLC 0.24% of their portfolio | 2.0m $38.3m | Added +649.7k |
| Mariner, LLC 0.04% of their portfolio | 2.0m $38.1m | Added +149.4k |
| Catalyst Capital Advisors LLC 0.70% of their portfolio | 1.9m $37.4m | Reduced -75.2k |
| Beacon Pointe Advisors, LLC 0.20% of their portfolio | 1.9m $37.1m | Added +257.9k |
| EXCHANGE TRADED CONCEPTS, LLC 0.28% of their portfolio | 1.9m $36.7m | Added +42.8k |
| Sanctuary Advisors, LLC 0.20% of their portfolio | 1.9m $36.5m | Added +258.0k |
| Callodine Capital Management, LP 2.55% of their portfolio | 1.9m $36.2m | Added +290.0k |
| Nuveen, LLC 0.01% of their portfolio | 1.9m $36.1m | Reduced -227.8k |
| Militia Capital Management LLC 2.62% of their portfolio | 1.8m $34.7m | First filing |
| COMMONWEALTH EQUITY SERVICES, LLC 0.05% of their portfolio | 1.8m $33.8m | Reduced -54.3k |
| Corient Private Wealth LP 0.02% of their portfolio | 1.7m $13.4m | Reduced -2.1m |
| Waverly Advisors, LLC 0.25% of their portfolio | 1.7m $33.3m | Added +315.0k |
| Kamunting Street Capital Management, L.P. 17.04% of their portfolio | 1.6m $31.2m | Reduced -700.0k |
| JENNISON ASSOCIATES LLC 0.02% of their portfolio | 1.6m $30.6m | Added +69.3k |
| APPALOOSA LP 0.51% of their portfolio | 1.6m $30.4m | Reduced -615.1k |
| U.S. Capital Wealth Advisors, LLC 0.74% of their portfolio | 1.5m $29.4m | Reduced -36.7k |
| Private Capital Advisors, Inc. 3.29% of their portfolio | 1.5m $28.7m | Added +650.1k |
| Adams Asset Advisors, LLC 3.12% of their portfolio | 1.4m $27.8m | Added +19.1k |
| Delphi Financial Group, Inc. 12.38% of their portfolio | 1.4m $27.4m | Unchanged |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.04% of their portfolio | 1.4m $27.4m | Reduced -4.6m |
| Empirical Finance, LLC 1.27% of their portfolio | 1.4m $27.1m | Added +652.7k |
| Aptus Capital Advisors, LLC 0.23% of their portfolio | 1.4m $27.0m | Added +161.3k |
| Kestra Advisory Services, LLC 0.10% of their portfolio | 1.4m $26.8m | Added +186.7k |
| STEPHENS INC /AR/ 0.33% of their portfolio | 1.4m $26.6m | Reduced -895 |
| Alden Global Capital LLC 14.94% of their portfolio | 1.4m $26.5m | Unchanged |
| MONETA GROUP INVESTMENT ADVISORS LLC 0.20% of their portfolio | 1.4m $26.1m | Added +6.7k |
| Pathstone Holdings, LLC 0.10% of their portfolio | 1.3m $25.9m | Added +413.5k |
| Texas Yale Capital Corp. 0.72% of their portfolio | 1.3m $25.3m | Unchanged |
| GABELLI FUNDS LLC 0.17% of their portfolio | 1.3m $24.8m | Reduced -25.1k |
| RR Advisors, LLC 6.61% of their portfolio | 1.2m $23.8m | Added +55.4k |
| BLACKHILL CAPITAL INC 1.19% of their portfolio | 1.2m $23.2m | Added +40.0k |
| Creative Planning 0.02% of their portfolio | 1.2m $22.7m | Added +275.5k |
| ENVESTNET ASSET MANAGEMENT INC 0.01% of their portfolio | 1.1m $22.1m | Added +121.3k |
| JANE STREET GROUP, LLC 0.02% of their portfolio | 1.1m $21.2m | Reduced -457.7k |
| MANNING & NAPIER ADVISORS LLC 0.30% of their portfolio | 1.1m $21.2m | Added +170.0k |