CIK: 0001728850
Total reported value
$137.7M
Reporting period: 2026-03-31 · Number of holdings: 19
LSP Investment Advisors, LLC disclosed 19 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $137.7M and a quarterly turnover rate of 32.5%.
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LSP Investment Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.164 — mathematically equivalent to about 6 equally-sized positions, well below its 19 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes vary widely across the portfolio (a coefficient of variation of 1.49), with a handful of outsized bets alongside many smaller positions.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 61% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Trim EXE
-37.3% -$21.2M
Add GPOR
-9.4% -$1.8M
Add EQT
-30.6% -$7.2M
Add SPY
0.0% -$573.6K
Add GDX
0.0% $423.0K
Add EEM
0.0% $226.4K
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | EXE | Expand Energy CORP | Stock-Energy | 25.49% | -4.42% | -37.28% | |
| 2 | EQT | Eqt CORP | Stock-Energy | 24.51% | +2.72% | -30.63% | |
| 3 | GPOR | Gulfport Energy CORP | Stock-Other | 15.18% | +3.11% | -9.44% | |
| 4 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 8.58% | +1.99% | — | |
| 5 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 4.70% | +1.48% | — | |
| 6 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 4.49% | +1.32% | — | |
| 7 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 4.46% | +0.89% | — | |
| 8 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 2.79% | +0.76% | — | |
| 9 | MSFT | Microsoft CORP | Stock-Tech | 2.23% | +0.10% | — | |
| 10 | AMZN | Amazon.com INC | Stock-Consumer Disc | 2.15% | +0.41% | — | |
| 11 | EWJ | Ishares Msci Japan ETF | ETF-Other | 1.84% | +0.55% | — | |
| 12 | GDXJ | Vaneck Junior Gold Miners | ETF-Commodities | 1.18% | +0.36% | — | |
| 13 | CNP | Centerpoint Energy INC | Stock-Utilities | 0.51% | +0.18% | — | |
| 14 | EXC | Exelon CORP | Stock-Utilities | 0.47% | +0.16% | — | |
| 15 | CEG | Constellation Energy | Stock-Utilities | 0.45% | +0.04% | — | |
| 16 | PEG | Public Service Enterprise Gp | Stock-Utilities | 0.31% | +0.08% | — | |
| 17 | DUK | Duke Energy CORP | Stock-Utilities | 0.29% | +0.10% | — | |
| 18 | HOOD | Robinhood Markets INC - A | Stock-Financials | 0.22% | -0.04% | — | |
| 19 | D | Dominion Energy INC | Stock-Utilities | 0.15% | +0.15% | NEW |
Performance for Q3 2026
-14.6%
Performance Last 4 Quarters
-0.9%
Based on 76% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 19 | $137.7M | 32 | |
| 2025-12-31 | 21 | $188.1M | 38 | |
| 2025-09-30 | 22 | $166.4M | 36 | |
| 2025-06-30 | 20 | $139.4M | 0 | |
| 2025-03-31 | 21 | $116.4M | 100 | |
| 2024-12-31 | 21 | $143.3M | 0 | |
| 2024-09-30 | 26 | $185.7M | 0 | |
| 2024-06-30 | 27 | $176.1M | 0 | |
| 2024-03-31 | 26 | $185.5M | 0 | |
| 2023-12-31 | 26 | $211.4M | 0 | |
| 2023-09-30 | 23 | $202.9M | 0 | |
| 2023-06-30 | 23 | $178.4M | 0 | |
| 2023-03-31 | 24 | $178.1M | 0 | |
| 2022-12-31 | 27 | $227.3M | 0 | |
| 2022-09-30 | 30 | $236.2M | 0 | |
| 2022-06-30 | 32 | $253.4M | 0 | |
| 2022-03-31 | 31 | $328.7M | 0 | |
| 2021-12-31 | 29 | $234.0M | 0 | |
| 2021-09-30 | 26 | $248.9M | 0 | |
| 2021-06-30 | 8 | $162.1M | 0 | |
| 2021-03-31 | 8 | $137.8M | 0 | |
| 2020-12-31 | 8 | $233.5M | 0 | |
| 2020-09-30 | 15 | $377.0M | 0 | |
| 2020-06-30 | 12 | $303.8M | 0 | |
| 2020-03-31 | 16 | $177.7M | 0 | |
| 2019-12-31 | 11 | $414.5M | 16 | |
| 2019-09-30 | 11 | $391.2M | 81 | |
| 2019-06-30 | 25 | $723.1M | 100 | |
| 2019-03-31 | 23 | $428.8M | 58 | |
| 2018-12-31 | 23 | $377.3M | 73 | |
| 2018-09-30 | 24 | $396.7M | 44 | |
| 2018-06-30 | 25 | $415.1M | 35 | |
| 2018-03-31 | 28 | $371.8M | 24 | |
| 2017-12-31 | 27 | $339.2M | 0 |
LSP Investment Advisors, LLC's most significant position changes for 2026-03-31: Sold out: Comstock Resources INC (CRK); Sold out: Antero Resources CORP (AR); Sold out: Battalion Oil CORP (BATL); New buy: Dominion Energy INC (D); Trim: Expand Energy CORP (EXE) — shares -37.28%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | GPOR | Gulfport Energy CORP | +3.1% | -9.44% | Trim |
| 2 | EQT | Eqt CORP | +2.7% | -30.63% | Trim |
| 3 | SPY | Ss Spdr S&p 500 ETF Trust-us | +2% | — | Unchanged |
| 4 | GDX | Vaneck Gold Miners ETF | +1.5% | — | Unchanged |
| 5 | EEM | Ishares Msci Emerging Market | +1.3% | — | Unchanged |
| 6 | GOOG | Alphabet Inc-cl C | +0.9% | — | Unchanged |
| 7 | IWM | Ishares Russell 2000 ETF | +0.8% | — | Unchanged |
| 8 | EWJ | Ishares Msci Japan ETF | +0.6% | — | Unchanged |
| 9 | AMZN | Amazon.com INC | +0.4% | — | Unchanged |
| 10 | GDXJ | Vaneck Junior Gold Miners | +0.4% | — | Unchanged |
| 11 | CNP | Centerpoint Energy INC | +0.2% | — | Unchanged |
| 12 | EXC | Exelon CORP | +0.2% | — | Unchanged |
| 13 | MSFT | Microsoft CORP | +0.1% | — | Unchanged |
| 14 | DUK | Duke Energy CORP | +0.1% | — | Unchanged |
| 15 | PEG | Public Service Enterprise Gp | +0.1% | — | Unchanged |
| 16 | CEG | Constellation Energy | 0% | — | Unchanged |
| 17 | HOOD | Robinhood Markets INC - A | 0% | — | Unchanged |
| 18 | EXE | Expand Energy CORP | -4.4% | -37.28% | Trim |
| 19 | CRK | Comstock Resources INC | — | EXIT | Sold out |
| 20 | AR | Antero Resources CORP | — | EXIT | Sold out |
| 21 | BATL | Battalion Oil CORP | — | EXIT | Sold out |
| 22 | D | Dominion Energy INC | — | NEW | New buy |
| Period | Filed | Type | EDGAR |
|---|---|---|---|
| 2026-03-31 | 2026-05-15 | 13F-HR | View on EDGAR |
| 2025-12-31 | 2026-02-17 | 13F-HR | View on EDGAR |
| 2025-09-30 | 2025-11-14 | 13F-HR | View on EDGAR |
| 2025-06-30 | 2025-08-14 | 13F-HR | View on EDGAR |
| 2025-03-31 | 2025-05-15 | 13F-HR | View on EDGAR |
| 2024-12-31 | 2025-02-14 | 13F-HR | View on EDGAR |
| 2024-09-30 | 2024-11-14 | 13F-HR | View on EDGAR |
| 2024-06-30 | 2024-08-14 | 13F-HR | View on EDGAR |
| 2024-03-31 | 2024-05-15 | 13F-HR | View on EDGAR |
| 2023-12-31 | 2024-02-14 | 13F-HR | View on EDGAR |
| 2023-09-30 | 2023-11-14 | 13F-HR | View on EDGAR |
| 2023-06-30 | 2023-08-14 | 13F-HR | View on EDGAR |
| 2023-03-31 | 2023-05-15 | 13F-HR | View on EDGAR |
| 2022-12-31 | 2023-02-14 | 13F-HR | View on EDGAR |
| 2022-09-30 | 2022-11-14 | 13F-HR | View on EDGAR |
| 2022-06-30 | 2022-08-15 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-05-16 | 13F-HR | View on EDGAR |
| 2021-12-31 | 2022-02-14 | 13F-HR | View on EDGAR |
| 2021-09-30 | 2021-11-15 | 13F-HR | View on EDGAR |
| 2021-06-30 | 2021-10-14 | Amendment | View on EDGAR |
| 2021-06-30 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-10-14 | Amendment | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-10-14 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
| 2020-09-30 | 2021-10-14 | Amendment | View on EDGAR |
| 2020-09-30 | 2020-11-16 | 13F-HR | View on EDGAR |
| 2020-06-30 | 2021-10-14 | Amendment | View on EDGAR |
| 2020-06-30 | 2020-08-14 | 13F-HR | View on EDGAR |
| 2020-03-31 | 2021-10-14 | Amendment | View on EDGAR |
| 2020-03-31 | 2020-05-15 | 13F-HR | View on EDGAR |
| 2019-12-31 | 2020-02-14 | 13F-HR | View on EDGAR |
| 2019-09-30 | 2019-11-14 | 13F-HR | View on EDGAR |
| 2019-06-30 | 2019-08-14 | 13F-HR | View on EDGAR |
| 2019-03-31 | 2019-05-15 | 13F-HR | View on EDGAR |
| 2018-12-31 | 2019-02-14 | 13F-HR | View on EDGAR |
| 2018-09-30 | 2018-11-14 | 13F-HR | View on EDGAR |
| 2018-06-30 | 2018-08-14 | 13F-HR | View on EDGAR |
| 2018-03-31 | 2018-05-15 | 13F-HR | View on EDGAR |
| 2017-12-31 | 2018-02-14 | 13F-HR | View on EDGAR |
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