MC
Mercuria Capital Strategies, LLC 13F Holdings (23 Positions, Q2 2026)
Mercuria Capital Strategies, LLCCIK: 0002048079
Sector-focusedLong-term holderQuality / disciplined sizing
Total reported value
$163.1M
Reporting period: 2026-06-30 · Number of holdings: 23
Mercuria Capital Strategies, LLC disclosed 23 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $163.1M and a quarterly turnover rate of 0.0%.
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Personality snowflake
- Concentration
- 76.09
- Portfolio Stability
- 0
- Momentum
- 50
- Sector conviction
- 100
- Diversification
- 46
- Sizing Uniformity
- 81.22
Mercuria Capital Strategies, LLC's disclosed holdings carry a Herfindahl concentration index of 0.190 — mathematically equivalent to about 5 equally-sized positions, well below its 23 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 1.88), 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 11% 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.govSold out TNK
New buy SHAZ
Sold out LYB
New buy FCX
Add G0R78B106
0.0% $244.6K
Sold out VG
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 | SHAZ | Sharonai Holdings Inc | Stock-Other | 39.84% | +39.84% | NEW | |
| 2 | ✓ | Bain Cap Gss Invt CORP | Stock-Other | 9.74% | +3.77% | — | |
| 3 | FCX | Freeport-mcmoran Inc | Stock-Materials | 7.50% | +7.50% | NEW | |
| 4 | ✓ | Paloma Acquisition CORP I | Stock-Other | 6.18% | +2.37% | — | |
| 5 | ✓ | Alussa Energy Acquisit CORP | Stock-Other | 6.16% | +2.35% | — | |
| 6 | ✓ | Drugs Made In Amer Acq Ii Co | Stock-Other | 4.63% | +1.77% | — | |
| 7 | ANSCW | Agriculture & Natural Solutions Acquisition Corporation | Stock-Other | 3.50% | +1.34% | — | |
| 8 | ✓ | Stock-Other | 3.39% | +1.30% | — | ||
| 9 | ✓ | Stock-Other | 3.12% | +1.20% | — | ||
| 10 | ✓ | Stock-Other | 3.09% | +1.18% | — | ||
| 11 | STRL | Sterling Infrastructure Inc | Stock-Industrials | 2.64% | +2.64% | NEW | |
| 12 | ✓ | Texas Ventures Acquisition I | Stock-Other | 2.25% | +0.87% | — | |
| 13 | ✓ | Berto Acquisition CORP | Stock-Other | 1.74% | +0.68% | — | |
| 14 | ✓ | Stock-Other | 1.57% | +0.62% | — | ||
| 15 | ✓ | Stock-Other | 1.56% | +0.59% | — | ||
| 16 | ✓ | Silverbox CORP V | Stock-Other | 1.54% | +0.59% | — | |
| 17 | CWEN | Clearway Energy Inc-c | Stock-Utilities | 0.78% | +0.78% | NEW | |
| 18 | GMTL | Guardian Metal Resources | Stock-Other | 0.58% | +0.15% | +4.59% | |
| 19 | ✓ | Stock-Other | 0.06% | +0.02% | — | ||
| 20 | CCIX | Churchill Capital Corp IX | Stock-Other | 0.06% | +0.02% | — | |
| 21 | ✓ | Stock-Other | 0.04% | +0.02% | — | ||
| 22 | ✓ | Gigcapital8 CORP | Stock-Other | 0.03% | +0.01% | — | |
| 23 | ✓ | Churchill Cap CORP Xi | Stock-Other | 0.01% | +0.01% | — |
Portfolio Performance
Performance for Q3 2026
+19.8%
Performance Last 4 Quarters
+38.8%
Based on 70% of reported portfolio value with available pricing
- Stdev
- +27.7%
- Beta
- +0.41
- Alpha
- +23%
- Max Drawdown
- -15.5%
- Annualized Perf
- +31%
- Batting Avg vs S&P
- +44.4%
- Sortino
- +2.33
- Stutzer
- +0.34
- Treynor
- +0.76
- Sterling
- +1.22
- Calmar
- +2
- Information Ratio
- +0.41
- Tracking Error
- +28.3%
- Stdev Down
- +13.2%
- Winning Months %
- +61.1%
- Losing Months %
- +38.9%
- Best 12 Months
- +38.8%
- Worst 12 Months
- -3.2%
- Efficiency Ratio
- +0.39
- Sharpe
- +1.11
- Stdev Sectors
- +26%
- Skewness
- +0.29
- Kurtosis
- -0.58
- Upside Potential
- +4.37
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Mercuria Capital Strategies, LLC's most significant position changes for 2026-06-30: Sold out: Teekay Tankers Ltd. (TNK); New buy: Sharonai Holdings Inc (SHAZ); Sold out: LyondellBasell Industries N.V. (LYB); New buy: Freeport-mcmoran Inc (FCX); Sold out: Venture Global Inc-cl A (VG).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | SHAZ | Sharonai Holdings Inc | +39.8% | NEW | New buy |
| 2 | FCX | Freeport-mcmoran Inc | +7.5% | NEW | New buy |
| 3 | ✓ | Bain Cap Gss Invt CORP | +3.8% | — | Unchanged |
| 4 | STRL | Sterling Infrastructure Inc | +2.6% | NEW | New buy |
| 5 | ✓ | Paloma Acquisition CORP I | +2.4% | — | Unchanged |
| 6 | ✓ | Alussa Energy Acquisit CORP | +2.4% | — | Unchanged |
| 7 | ✓ | Drugs Made In Amer Acq Ii Co | +1.8% | — | Unchanged |
| 8 | ANSCW | Agriculture & Natural Solutions Acquisition Corporation | +1.3% | — | Unchanged |
| 9 | ✓ | +1.3% | — | Unchanged | |
| 10 | ✓ | +1.2% | — | Unchanged | |
| 11 | ✓ | +1.2% | — | Unchanged | |
| 12 | ✓ | Texas Ventures Acquisition I | +0.9% | — | Unchanged |
| 13 | CWEN | Clearway Energy Inc-c | +0.8% | NEW | New buy |
| 14 | ✓ | Berto Acquisition CORP | +0.7% | — | Unchanged |
| 15 | ✓ | +0.6% | — | Unchanged | |
| 16 | ✓ | Silverbox CORP V | +0.6% | — | Unchanged |
| 17 | ✓ | +0.6% | — | Unchanged | |
| 18 | GMTL | Guardian Metal Resources | +0.2% | +4.59% | Add |
| 19 | ✓ | 0% | — | Unchanged | |
| 20 | CCIX | Churchill Capital Corp IX | 0% | — | Unchanged |
| 21 | ✓ | 0% | — | Unchanged | |
| 22 | ✓ | Gigcapital8 CORP | 0% | — | Unchanged |
| 23 | ✓ | Churchill Cap CORP Xi | 0% | — | Unchanged |
| 24 | ✓ | Churchill Cap CORP Xi | — | EXIT | Sold out |
| 25 | ✓ | Silverbox CORP V | 0% | EXIT | Sold out |
| 26 | ✓ | Viking Acquisition CORP I | 0% | EXIT | Sold out |
| 27 | CEPO | Cantor Equity Partners I, Inc. | 0% | EXIT | Sold out |
| 28 | ✓ | Alussa Energy Acquisit CORP | -0.1% | EXIT | Sold out |
| 29 | ✓ | -0.1% | EXIT | Sold out | |
| 30 | DSX | Diana Shipping Inc. | -0.3% | EXIT | Sold out |
| 31 | GLP | Global Partners LP | -1.3% | EXIT | Sold out |
| 32 | VIXY | Proshares Vix Short-term Fut | -2% | EXIT | Sold out |
| 33 | VG | Venture Global Inc-cl A | -3.5% | EXIT | Sold out |
| 34 | LYB | LyondellBasell Industries N.V. | -12.5% | EXIT | Sold out |
| 35 | TNK | Teekay Tankers Ltd. | -49.9% | EXIT | Sold out |
Filing History
FAQ
What is Mercuria Capital Strategies, LLC and what type of investor is it?
Mercuria Capital Strategies, 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 $163.1M, spread across 23 disclosed positions.
What are Mercuria Capital Strategies, LLC's largest equity positions?
Based on the latest 13F filing, Mercuria Capital Strategies, LLC's top holdings by market value are:
1. Sharonai Holdings Inc (SHAZ) — $65.0M (39.8%)
2. Bain Cap Gss Invt CORP — $15.9M (9.7%)
3. Freeport-mcmoran Inc (FCX) — $12.2M (7.5%)
4. Paloma Acquisition CORP I — $10.1M (6.2%)
5. Alussa Energy Acquisit CORP — $10.0M (6.2%)
What changes did Mercuria Capital Strategies, LLC make in its most recent portfolio filing?
In the latest reported quarter, Mercuria Capital Strategies, LLC made 17 notable position adjustments: 4 new positions were initiated, 1 existing holdings were added to, 0 positions were partially reduced, and 12 were completely exited. The largest of these moves: Sold out: Teekay Tankers Ltd. (TNK); New buy: Sharonai Holdings Inc (SHAZ); Sold out: LyondellBasell Industries N.V. (LYB); New buy: Freeport-mcmoran Inc (FCX); Sold out: Venture Global Inc-cl A (VG)
What sectors does Mercuria Capital Strategies, LLC focus on?
Mercuria Capital Strategies, LLC is concentrated in the following sectors based on its current disclosed equity portfolio:
• Materials: 68.7%
• Industrials: 24.2%
• Utilities: 7.1%
Investment Profile
Mercuria Capital Strategies, LLC returned an annualized 31.0% over the trailing 18 months — outperforming the S&P 500 by 23.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.41 (less volatile than the market) and a 44% quarterly batting average against the index.
Its portfolio is concentrated and long-term-holding, with 68.7% of the portfolio concentrated in Materials.
Its concentration score has fallen from 100 to 76 over the past 4 quarters — a shift toward broader diversification.
It has added to its G3864J100 position for two straight quarters, increasing it by $1.3M to reach $5.0M.
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