Fund HoldingsMerewether Investment Management, LP

Total Portfolio Value
$4.35B
Total Bought
$1.57B
Total Sold
$1.48B
Net Transaction
+$94.17M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
WILLIAMS COS INC(WMB)02,341,000+2,341,0000140,7183.24%+140,718
BP PLC(BP)03,008,100+3,008,1000104,4712.40%+104,471
PRIMORIS SVCS CORP(PRIM)0781,700+781,700097,0402.23%+97,040
FREEPORT-MCMORAN INC(FCX)01,909,400+1,909,400096,9782.23%+96,978
QNITY ELECTRONICS INC(Q)0878,048+878,048071,6931.65%+71,693
OVINTIV INC(OVV)1,747,0973,612,697+1,865,60070,548141,5823.26%+71,034
CHENIERE ENERGY INC(LNG)42,600348,600+306,00010,01067,7641.56%+57,754
COTERRA ENERGY INC02,073,500+2,073,500054,5751.26%+54,575
GENERAL MTRS CO(GM)0633,300+633,300051,5001.18%+51,500
VISTRA CORP(VST)94,022397,322+303,30018,42164,1001.47%+45,679
ALCOA CORP(AA)37,500882,200+844,7001,23346,8801.08%+45,647
CLEVELAND-CLIFFS INC NEW(CLF)03,096,600+3,096,600041,1230.95%+41,123
COMFORT SYS USA INC(FIX)4,16946,349+42,1803,44043,2570.99%+39,817
NRG ENERGY INC(NRG)530,726765,626+234,90085,951121,9182.80%+35,967
CENTURI HOLDINGS INC(CTRI)01,344,000+1,344,000033,9360.78%+33,936
NUCOR CORP(NUE)0203,900+203,900033,2580.76%+33,258
CENTERRA GOLD INC(CGAU)02,253,100+2,253,100032,4390.75%+32,439
DARLING INGREDIENTS INC(DAR)20,614878,114+857,50063631,6120.73%+30,976
SENSATA TECHNOLOGIES HLDG PL
SHS
0904,600+904,600030,1140.69%+30,114
CORE NATURAL RESOURCES INC(CNR)0339,400+339,400030,0400.69%+30,040
ATMOS ENERGY CORP(ATO)72,936238,236+165,30012,45439,9360.92%+27,482
BUNGE GLOBAL SA(BG)921,7001,132,700+211,00074,888100,9012.32%+26,013
PAR PAC HOLDINGS INC(PARR)0734,400+734,400025,8070.59%+25,807
BKV CORP(BKV)876,5171,676,217+799,70020,27445,5091.05%+25,235
ANTERO RESOURCES CORP(AR)0727,700+727,700025,0770.58%+25,077
TERAWULF INC(WULF)02,164,500+2,164,500024,8700.57%+24,870
DIAMONDBACK ENERGY INC(FANG)508,750640,250+131,50072,80296,2492.21%+23,447
CACTUS INC(WHD)0504,900+504,900023,0640.53%+23,064
LINCOLN ELEC HLDGS INC(LECO)094,800+94,800022,7180.52%+22,718
TASEKO MINES LTD(TGB)03,672,900+3,672,900020,7890.48%+20,789
JAMES HARDIE INDS PLC
ORD SHS
0876,600+876,600018,1890.42%+18,189
HUT 8 CORP(HUT)0393,600+393,600018,0820.42%+18,082
STANDARD LITHIUM LTD04,037,000+4,037,000018,0450.42%+18,045
XCEL ENERGY INC(XEL)1,763,9102,167,710+403,800142,259160,1073.68%+17,848
LIBERTY ENERGY INC(LBRT)0951,092+951,092017,5570.40%+17,557
CENTERPOINT ENERGY INC(CNP)2,493,5002,897,000+403,50096,748111,0712.55%+14,323
SLB LIMITED(SLB)543,200857,300+314,10018,67032,9030.76%+14,233
ELDORADO GOLD CORP NEW(EGO)0393,700+393,700014,1420.33%+14,142
KIRBY CORP(KEX)0122,300+122,300013,4750.31%+13,475
DT MIDSTREAM INC(DTM)1,000,6001,042,600+42,000113,128124,7782.87%+11,651
IAMGOLD CORP(IAG)3,432,5903,335,790-96,80044,38355,0071.27%+10,624
ARIS MNG CORP(ARIS)1,913,4001,694,800-218,60018,74827,4880.63%+8,740
LEGENCE CORP(LGN)1,306,8521,134,422-172,43040,26448,8261.12%+8,561
WESTLAKE CORPORATION(WLK)268,400388,100+119,70020,68328,6960.66%+8,013
GENERAC HLDGS INC(GNRC)113,799188,946+75,14719,05025,7670.59%+6,717
TECHNIPFMC PLC(FTI)1,544,1351,511,128-33,00760,91667,3361.55%+6,420
EXXON MOBIL CORP693,893701,493+7,60078,23684,4181.94%+6,181
TARGA RES CORP(TRGP)798,177749,577-48,600133,727138,2973.18%+4,570
TAMBORAN RES CORP(TBN)070,000+70,00001,9060.04%+1,906
CAMECO CORP(CCJ)88,85488,85407,4518,1290.19%+678
AUTOLIV INC(ALV)6,4006,40007907600.02%-31
ITRON INC(ITRI)5,0750-5,0756320-632
SABLE OFFSHORE CORP138,8000-138,8002,4230-2,423
DENISON MINES CORP(DNN)6,819,9005,903,300-916,60018,75515,7030.36%-3,052
WATERBRIDGE INFRASTRUCTURE L(WBI)870,400870,400021,95117,4170.40%-4,535
CANADIAN NAT RES LTD(CNQ)168,4630-168,4635,3840-5,384
WARRIOR MET COAL INC(HCC)108,5690-108,5696,9090-6,909
FIRST SOLAR INC(FSLR)420,700325,100-95,60092,77784,9261.95%-7,851
VISTEON CORP(VC)70,7005,200-65,5008,4744950.01%-7,980
SUNCOR ENERGY INC NEW(SU)3,681,3043,277,504-403,800154,017145,4813.35%-8,536
ACUITY INC(AYI)147,100116,000-31,10050,66041,7650.96%-8,895
BITDEER TECHNOLOGIES GROUP(BTDR)601,7000-601,70010,2830-10,283
GARRETT MOTION INC(GTX)2,980,2001,686,100-1,294,10040,59029,3890.68%-11,202
NEXTPOWER INC280,87588,975-191,90020,7827,7510.18%-13,031
COEUR MNG INC(CDE)725,6000-725,60013,6120-13,612
SHELL PLC(SHEL)750,821539,421-211,40053,70639,6370.91%-14,070
FRONTLINE PLC(FRO)626,5000-626,50014,2780-14,278
VIPER ENERGY INC(VNOM)697,582318,082-379,50026,66212,2880.28%-14,374
EXPAND ENERGY CORPORATION(EXE)1,517,4751,329,075-188,400161,217146,6773.37%-14,540
PEABODY ENERGY CORP(BTU)571,3000-571,30015,1510-15,151
STEEL DYNAMICS INC(STLD)189,80053,400-136,40026,4649,0490.21%-17,415
RAMACO RES INC561,4000-561,40018,6330-18,633
SCORPIO TANKERS INC(STNG)686,361323,861-362,50038,47116,4620.38%-22,009
MOSAIC CO NEW(MOS)634,8000-634,80022,0150-22,015
GLOBAL X FDS
GLOBAL X COPPER
379,5000-379,50022,6980-22,698
EVERUS CONSTR GROUP(ECG)289,7000-289,70024,8420-24,842
PERMIAN RESOURCES CORP(PR)8,836,1376,263,137-2,573,000113,10387,8722.02%-25,231
COMMERCIAL METALS CO(CMC)468,7000-468,70026,8470-26,847
BARRICK MNG CORP(B)2,647,3001,331,000-1,316,30086,75257,9651.33%-28,787
NVENT ELECTRIC PLC(NVT)1,699,6741,335,574-364,100167,656136,1883.13%-31,467
ENTERGY CORP NEW(ETR)2,148,0001,796,900-351,100200,172166,0873.82%-34,085
HF SINCLAIR CORP(DINO)682,4000-682,40035,7170-35,717
CUMMINS INC(CMI)215,800106,060-109,74091,14754,1381.25%-37,009
CHEVRON CORP NEW(CVX)240,0000-240,00037,2700-37,270
SEMPRA(SRE)1,949,4321,547,132-402,300175,410136,5963.14%-38,814
HUBBELL INC(HUBB)198,000102,920-95,08085,20145,7081.05%-39,494
RIOT PLATFORMS INC(RIOT)2,510,0000-2,510,00047,7650-47,765
DUPONT DE NEMOURS INC(DD)1,279,7001,246,796-32,90499,68950,1211.15%-49,567
VALERO ENERGY CORP(VLO)634,731359,131-275,600108,06958,4631.34%-49,606
MASTEC INC(MTZ)867,240569,140-298,100184,557123,7142.85%-60,843
KINDER MORGAN INC DEL(KMI)2,765,8000-2,765,80078,3000-78,300
CENOVUS ENERGY INC(CVE)7,138,2222,076,591-5,061,631121,27835,1360.81%-86,142
TALEN ENERGY CORP(TLN)241,15923,908-217,251102,5848,9620.21%-93,623
EQT CORP(EQT)2,735,086845,286-1,889,800148,87145,3071.04%-103,563
BAKER HUGHES COMPANY(BKR)2,165,8460-2,165,846105,5200-105,520
NISOURCE INC(NI)2,934,5940-2,934,594127,0680-127,068
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