LI
LSP Investment Advisors, LLC 13F Holdings & Recent Stock Buys (Q2 2026)
LSP Investment Advisors, LLCCIK: 0001728850
Sector-focusedQuality / disciplined sizingConcentrated strategy
Total reported value
$108.9M
Reporting period: 2026-06-30 · Number of holdings: 18
LSP Investment Advisors, LLC disclosed 18 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $108.9M and a quarterly turnover rate of 23.6%.
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Personality snowflake
- Concentration
- 69.81
- Portfolio Stability
- 23.6
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 36
- Sizing Uniformity
- 84.94
LSP Investment Advisors, LLC's disclosed holdings carry a Herfindahl concentration index of 0.175 — mathematically equivalent to about 6 equally-sized positions, well below its 18 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 1.51), 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 64% 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.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govTrim SPY
-55.1% -$5.7M
Add EQT
0.0% -$5.6M
Add EXE
0.0% -$5.9M
Trim GDX
-26.5% -$2.6M
Add GOOG
-26.5% -$579.5K
Add EEM
-26.5% -$706.8K
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | EXE | Expand Energy CORP | Stock-Energy | 26.78% | +1.29% | — | |
| 2 | EQT | Eqt CORP | Stock-Energy | 25.90% | +1.39% | — | |
| 3 | GPOR | Gulfport Energy CORP | Stock-Other | 15.40% | +0.22% | — | |
| 4 | SPY | Ss Spdr S&p 500 ETF Trust-us | ETF-Large Cap & Growth | 5.58% | -3.00% | -55.12% | |
| 5 | GOOG | Alphabet Inc-cl C | Stock-Comm Services | 5.11% | +0.65% | -26.48% | |
| 6 | EEM | Ishares Msci Emerging Market | ETF-Emerging Markets | 5.03% | +0.54% | -26.48% | |
| 7 | GDX | Vaneck Gold Miners ETF | ETF-Commodities | 3.59% | -1.11% | -26.48% | |
| 8 | IWM | Ishares Russell 2000 ETF | ETF-Small Cap | 3.14% | +0.35% | -26.48% | |
| 9 | AMZN | Amazon.com Inc | Stock-Consumer Disc | 2.29% | +0.14% | -26.48% | |
| 10 | MSFT | Microsoft CORP | Stock-Tech | 2.09% | -0.14% | -26.47% | |
| 11 | EWJ | Ishares Msci Japan ETF | ETF-Other | 1.89% | +0.05% | -26.48% | |
| 12 | GDXJ | Vaneck Junior Gold Miners | ETF-Commodities | 0.90% | -0.28% | -26.47% | |
| 13 | EXC | Exelon CORP | Stock-Utilities | 0.49% | +0.02% | -13.21% | |
| 14 | CNP | Centerpoint Energy Inc | Stock-Utilities | 0.48% | -0.03% | -26.47% | |
| 15 | HOOD | Robinhood Markets Inc - A | Stock-Financials | 0.40% | +0.18% | — | |
| 16 | CEG | Constellation Energy | Stock-Utilities | 0.37% | -0.08% | -26.45% | |
| 17 | PEG | Public Service Enterprise Gp | Stock-Utilities | 0.29% | -0.02% | -26.47% | |
| 18 | DUK | Duke Energy CORP | Stock-Utilities | 0.26% | -0.03% | -26.47% |
Portfolio Performance
Performance for Q3 2026
+2.6%
Performance Last 4 Quarters
+8.4%
- Stdev
- +17.5%
- Beta
- +0.45
- Alpha
- +4.5%
- Max Drawdown
- -15.5%
- Annualized Perf
- +12.6%
- Batting Avg vs S&P
- +47.2%
- Sortino
- +1.38
- Stutzer
- +0.23
- Treynor
- +0.3
- Sterling
- +0.62
- Calmar
- +0.82
- Information Ratio
- -0.37
- Tracking Error
- +18%
- Stdev Down
- +9.7%
- Winning Months %
- +55.6%
- Losing Months %
- +44.4%
- Best 12 Months
- +39.3%
- Worst 12 Months
- -1.4%
- Efficiency Ratio
- +0.29
- Sharpe
- +0.77
- Stdev Sectors
- +29.2%
- Skewness
- +0.09
- Kurtosis
- -0.73
- Upside Potential
- +3.25
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 18 | $108.9M | 24 | ||
| 2026 Q1 | 19 | $137.7M | 32 | ||
| 2025 Q4 | 21 | $188.1M | 38 | ||
| 2025 Q3 | 22 | $166.4M | 36 | ||
| 2025 Q2 | 20 | $139.4M | 0 | ||
| 2025 Q1 | 21 | $116.4M | 100 | ||
| 2024 Q4 | 21 | $143.3M | 0 | ||
| 2024 Q3 | 26 | $185.7M | 0 | ||
| 2024 Q2 | 27 | $176.1M | 0 | ||
| 2024 Q1 | 26 | $185.5M | 0 | ||
| 2023 Q4 | 26 | $211.4M | 0 | ||
| 2023 Q3 | 23 | $202.9M | 0 | ||
| 2023 Q2 | 23 | $178.4M | 0 | ||
| 2023 Q1 | 24 | $178.1M | 0 | ||
| 2022 Q4 | 27 | $227.3M | 0 | ||
| 2022 Q3 | 30 | $236.2M | 0 | ||
| 2022 Q2 | 32 | $253.4M | 0 | ||
| 2022 Q1 | 31 | $328.7M | 0 | ||
| 2021 Q4 | 29 | $234.0M | 0 | ||
| 2021 Q3 | 26 | $248.9M | 0 | ||
| 2021 Q2 | 8 | $162.1M | 0 | ||
| 2021 Q1 | 8 | $137.8M | 0 | ||
| 2020 Q4 | 8 | $233.5M | 0 | ||
| 2020 Q3 | 15 | $377.0M | 0 | ||
| 2020 Q2 | 12 | $303.8M | 0 | ||
| 2020 Q1 | 16 | $177.7M | 0 | ||
| 2019 Q4 | 11 | $414.5M | 16 | ||
| 2019 Q3 | 11 | $391.2M | 81 | ||
| 2019 Q2 | 25 | $723.1M | 100 | ||
| 2019 Q1 | 23 | $428.8M | 58 | ||
| 2018 Q4 | 23 | $377.3M | 73 | ||
| 2018 Q3 | 24 | $396.7M | 44 | ||
| 2018 Q2 | 25 | $415.1M | 35 | ||
| 2018 Q1 | 28 | $371.8M | 24 | ||
| 2017 Q4 | 27 | $339.2M | 0 |
Holding changes this quarter
LSP Investment Advisors, LLC's most significant position changes for 2026-06-30: Sold out: Dominion Energy Inc (D); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -55.12%; Trim: Vaneck Gold Miners ETF (GDX) — shares -26.48%; Trim: Alphabet Inc-cl C (GOOG) — shares -26.48%; Trim: Ishares Msci Emerging Market (EEM) — shares -26.48%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | EQT | Eqt CORP | +1.4% | — | Unchanged |
| 2 | EXE | Expand Energy CORP | +1.3% | — | Unchanged |
| 3 | GOOG | Alphabet Inc-cl C | +0.7% | -26.48% | Trim |
| 4 | EEM | Ishares Msci Emerging Market | +0.5% | -26.48% | Trim |
| 5 | IWM | Ishares Russell 2000 ETF | +0.4% | -26.48% | Trim |
| 6 | GPOR | Gulfport Energy CORP | +0.2% | — | Unchanged |
| 7 | HOOD | Robinhood Markets Inc - A | +0.2% | — | Unchanged |
| 8 | AMZN | Amazon.com Inc | +0.1% | -26.48% | Trim |
| 9 | EWJ | Ishares Msci Japan ETF | +0.1% | -26.48% | Trim |
| 10 | EXC | Exelon CORP | 0% | -13.21% | Trim |
| 11 | PEG | Public Service Enterprise Gp | 0% | -26.47% | Trim |
| 12 | CNP | Centerpoint Energy Inc | 0% | -26.47% | Trim |
| 13 | DUK | Duke Energy CORP | 0% | -26.47% | Trim |
| 14 | CEG | Constellation Energy | -0.1% | -26.45% | Trim |
| 15 | MSFT | Microsoft CORP | -0.1% | -26.47% | Trim |
| 16 | D | Dominion Energy Inc | -0.2% | EXIT | Sold out |
| 17 | GDXJ | Vaneck Junior Gold Miners | -0.3% | -26.47% | Trim |
| 18 | GDX | Vaneck Gold Miners ETF | -1.1% | -26.48% | Trim |
| 19 | SPY | Ss Spdr S&p 500 ETF Trust-us | -3% | -55.12% | Trim |
Filing History
FAQ
What is LSP Investment Advisors, LLC and what type of investor is it?
LSP Investment Advisors, LLC is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $108.9M, spread across 18 disclosed positions.
What are LSP Investment Advisors, LLC's largest equity positions?
Based on the latest 13F filing, LSP Investment Advisors, LLC's top holdings by market value are:
1. Expand Energy CORP (EXE) — $29.2M (26.8%)
2. Eqt CORP (EQT) — $28.2M (25.9%)
3. Gulfport Energy CORP (GPOR) — $16.8M (15.4%)
4. Ss Spdr S&p 500 ETF Trust-us (SPY) — $6.1M (5.6%)
5. Alphabet Inc-cl C (GOOG) — $5.6M (5.1%)
What changes did LSP Investment Advisors, LLC make in its most recent portfolio filing?
In the latest quarter, LSP Investment Advisors, LLC took a more defensive posture — trimming 14 positions and completely exiting 1 holdings. The largest of these moves: Sold out: Dominion Energy Inc (D); Trim: Ss Spdr S&p 500 ETF Trust-us (SPY) — shares -55.12%; Trim: Vaneck Gold Miners ETF (GDX) — shares -26.48%; Trim: Alphabet Inc-cl C (GOOG) — shares -26.48%; Trim: Ishares Msci Emerging Market (EEM) — shares -26.48%
What sectors does LSP Investment Advisors, LLC focus on?
LSP Investment Advisors, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Energy: 81.7%
• Communication Services: 7.9%
• Consumer Discretionary: 3.5%
• Information Technology: 3.2%
• Utilities: 3.0%
• Financials: 0.6%
Investment Profile
LSP Investment Advisors, LLC returned an annualized 12.6% over the trailing 36 months — outperforming the S&P 500 by 4.5 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.45 (less volatile than the market) and a 47% quarterly batting average against the index.
Its portfolio is concentrated and moderately active, with 81.7% of the portfolio concentrated in Energy.
Its turnover score has risen from 0 to 24 over the past 4 quarters — a shift toward more active trading.
It has trimmed its EXE position for two straight quarters, cutting it by $27.1M while still holding $29.2M.
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