Fund HoldingsMerewether Investment Management, LP

Total Portfolio Value
$5.16B
Total Bought
$1.93B
Total Sold
$1.46B
Net Transaction
+$469.88M
Filing Period:
Securities
SharesValue ($K)
Q4 2025
Q1 2026
Change
Q4 2025
Q1 2026
Weight (%)
Change
COTERRA ENERGY INC2,073,5007,301,691+5,228,19154,575256,5814.97%+202,007
DARLING INGREDIENTS INC(DAR)878,1143,324,523+2,446,40931,612205,6223.98%+174,010
OVINTIV INC(OVV)3,612,6974,283,314+670,617141,582254,2584.92%+112,676
VISTRA CORP(VST)397,3221,115,621+718,29964,100167,7113.25%+103,611
CENOVUS ENERGY INC(CVE)2,076,5914,771,600+2,695,00935,136126,5912.45%+91,455
TOTALENERGIES SE(TTE)0949,800+949,800086,4131.67%+86,413
MARATHON PETE CORP(MPC)0310,500+310,500075,8181.47%+75,818
CONOCOPHILLIPS(COP)0522,192+522,192068,9291.33%+68,929
HF SINCLAIR CORP(DINO)01,054,435+1,054,435065,7861.27%+65,786
VENTURE GLOBAL INC(VG)04,154,300+4,154,300065,4721.27%+65,472
CHENIERE ENERGY INC(LNG)348,600459,471+110,87167,764130,3792.52%+62,615
BP PLC(BP)3,008,1003,541,397+533,297104,471166,4463.22%+61,974
HUBBELL INC(HUBB)102,920216,337+113,41745,708106,1652.06%+60,457
SUNCOR ENERGY INC NEW(SU)3,277,5043,103,851-173,653145,481205,2283.97%+59,747
LYONDELLBASELL INDUSTRIES NV
SHS - A -
0654,687+654,687052,7421.02%+52,742
SOLSTICE ADVANCED MATLS INC(SOLS)0642,451+642,451048,9290.95%+48,929
RALLIANT CORP(RAL)01,112,250+1,112,250046,2580.90%+46,258
CORE NATURAL RESOURCES INC(CNR)339,400726,634+387,23430,04076,1001.47%+46,060
SELECT WATER SOLUTIONS INC(WTTR)02,889,000+2,889,000044,2020.86%+44,202
PERMIAN RESOURCES CORP(PR)6,263,1376,148,515-114,62287,872131,0862.54%+43,215
BUNGE GLOBAL SA(BG)1,132,7001,118,543-14,157100,901142,2792.75%+41,378
SEADRILL LTD(SDRL)0867,338+867,338039,4640.76%+39,464
NOBLE CORP PLC(NE)0779,215+779,215038,2360.74%+38,236
FRANCO NEV CORP(FNV)0144,000+144,000035,5750.69%+35,575
CRH PLC
ORD
0338,119+338,119035,5430.69%+35,543
SENSATA TECHNOLOGIES HLDG PL
SHS
904,6001,796,642+892,04230,11463,2781.23%+33,164
PATTERSON-UTI ENERGY INC(PTEN)03,003,324+3,003,324032,5260.63%+32,526
CENTURY ALUM CO(CENX)0514,800+514,800030,2140.58%+30,214
TARGA RES CORP(TRGP)749,577648,440-101,137138,297162,5833.15%+24,286
EQT CORP(EQT)845,2861,069,850+224,56445,30768,0851.32%+22,778
JAMES HARDIE INDS PLC
ORD SHS
876,6001,957,830+1,081,23018,18937,0810.72%+18,892
OLIN CORP(OLN)0623,377+623,377018,5330.36%+18,533
CAMECO CORP(CCJ)88,854233,810+144,9568,12925,3940.49%+17,265
CENTERPOINT ENERGY INC(CNP)2,897,0002,952,405+55,405111,071127,4262.47%+16,355
NUCOR CORP(NUE)203,900293,114+89,21433,25849,5660.96%+16,307
ANTERO RESOURCES CORP(AR)727,700951,200+223,50025,07740,3690.78%+15,292
PHILLIPS 66(PSX)082,300+82,300014,9930.29%+14,993
LIBERTY ENERGY INC(LBRT)951,0921,031,575+80,48317,55729,7090.58%+12,152
BAKER HUGHES COMPANY(BKR)0173,400+173,400010,5860.20%+10,586
ENERGY TRANSFER L P(ET)0516,200+516,20009,9630.19%+9,963
NEXTPOWER INC88,975133,207+44,2327,75116,0580.31%+8,307
NRG ENERGY INC(NRG)765,626890,906+125,280121,918130,1972.52%+8,279
CENTERRA GOLD INC(CGAU)2,253,1002,264,523+11,42332,43940,1460.78%+7,707
FLOWSERVE CORP(FLS)075,100+75,10005,5210.11%+5,521
CELANESE CORP DEL(CE)074,600+74,60004,9060.09%+4,906
ALBEMARLE CORP(ALB)09,640+9,64001,7310.03%+1,731
TAMBORAN RES CORP(TBN)70,00068,879-1,1211,9063,4430.07%+1,537
BKV CORP(BKV)1,676,2171,646,773-29,44445,50946,9660.91%+1,457
ARCELORMITTAL SA LUXEMBOURG(MT)028,173+28,17301,4270.03%+1,427
SEMPRA(SRE)1,547,1321,412,788-134,344136,596137,2812.66%+684
IAMGOLD CORP(IAG)3,335,7902,953,542-382,24855,00755,5861.08%+578
LINCOLN ELEC HLDGS INC(LECO)94,80093,508-1,29222,71823,2910.45%+573
VISTEON CORP(VC)5,2000-5,2004950-495
PRIMORIS SVCS CORP(PRIM)781,700674,839-106,86197,04096,5291.87%-511
AUTOLIV INC(ALV)6,4000-6,4007600-760
DENISON MINES CORP(DNN)5,903,3004,208,160-1,695,14015,70314,8550.29%-848
ARIS MINING CORPORATION(ARIS)1,694,8001,396,396-298,40427,48825,9200.50%-1,568
PAR PAC HOLDINGS INC(PARR)734,400369,465-364,93525,80723,1430.45%-2,664
WESTLAKE CORPORATION(WLK)388,100219,900-168,20028,69625,6890.50%-3,007
STANDARD LITHIUM LTD4,037,0003,972,396-64,60418,04513,5460.26%-4,500
LEGENCE CORP(LGN)1,134,422726,336-408,08648,82641,0090.79%-7,817
TALEN ENERGY CORP(TLN)23,9080-23,9088,9620-8,962
STEEL DYNAMICS INC(STLD)53,4000-53,4009,0490-9,049
TECHNIPFMC PLC(FTI)1,511,128836,283-674,84567,33657,8121.12%-9,524
VIPER ENERGY INC(VNOM)318,0820-318,08212,2880-12,288
DT MIDSTREAM INC(DTM)1,042,600835,006-207,594124,778112,4502.18%-12,328
COMFORT SYS USA INC(FIX)46,34922,351-23,99843,25730,8220.60%-12,435
HUT 8 CORP(HUT)393,600114,909-278,69118,0825,3900.10%-12,692
KIRBY CORP(KEX)122,3000-122,30013,4750-13,475
ELDORADO GOLD CORP NEW(EGO)393,7000-393,70014,1420-14,142
CUMMINS INC(CMI)106,06073,528-32,53254,13839,5600.77%-14,579
SCORPIO TANKERS INC(STNG)323,8610-323,86116,4620-16,462
WATERBRIDGE INFRASTRUCTURE L(WBI)870,4000-870,40017,4170-17,417
WILLIAMS COS INC(WMB)2,341,0001,668,428-672,572140,718121,4282.35%-19,289
TASEKO MINES LTD(TGB)3,672,9000-3,672,90020,7890-20,789
QNITY ELECTRONICS INC(Q)878,048433,284-444,76471,69349,9920.97%-21,700
CACTUS INC(WHD)504,9000-504,90023,0640-23,064
NVENT ELEC PLC(NVT)1,335,574950,331-385,243136,188112,4052.18%-23,783
TERAWULF INC(WULF)2,164,50035,912-2,128,58824,8705180.01%-24,352
GENERAC HLDGS INC(GNRC)188,9460-188,94625,7670-25,767
ATMOS ENERGY CORP(ATO)238,23671,509-166,72739,93613,2090.26%-26,726
GARRETT MOTION INC(GTX)1,686,10078,363-1,607,73729,3891,4240.03%-27,965
SLB LIMITED(SLB)857,3000-857,30032,9030-32,903
CENTURI HOLDINGS INC(CTRI)1,344,0000-1,344,00033,9360-33,936
FREEPORT MCMORAN INC(FCX)1,909,400998,764-910,63696,97858,7071.14%-38,271
XCEL ENERGY INC(XEL)2,167,7101,531,542-636,168160,107121,6662.36%-38,441
SHELL PLC(SHEL)539,4210-539,42139,6370-39,637
CLEVELAND-CLIFFS INC NEW(CLF)3,096,6000-3,096,60041,1230-41,123
ACUITY INC(AYI)116,0000-116,00041,7650-41,765
ENTERGY CORP NEW(ETR)1,796,9001,094,542-702,358166,087122,9832.38%-43,105
DIAMONDBACK ENERGY INC(FANG)640,250266,065-374,18596,24952,6251.02%-43,624
EXXON MOBIL CORP701,493233,262-468,23184,41839,5750.77%-44,842
DUPONT DE NEMOURS INC(DD)1,246,79685,460-1,161,33650,1213,9140.08%-46,207
ALCOA CORP(AA)882,2000-882,20046,8800-46,880
GENERAL MTRS CO(GM)633,30026,628-606,67251,5001,9840.04%-49,516
MASTEC INC(MTZ)569,140223,061-346,079123,71471,7681.39%-51,946
BARRICK MNG CORP(B)1,331,0000-1,331,00057,9650-57,965
VALERO ENERGY CORP(VLO)359,1310-359,13158,4630-58,463
FIRST SOLAR INC(FSLR)325,1000-325,10084,9260-84,926
EXPAND ENERGY CORPORATION(EXE)1,329,075431,690-897,385146,67747,3910.92%-99,286
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