CIK: 0001736852
Total reported value
$5.2B
Reporting period: 2026-03-31 · Number of holdings: 79
Merewether Investment Management, LP disclosed 79 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $5.2B and a quarterly turnover rate of 71.1%.
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Merewether Investment Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.023 — mathematically equivalent to about 44 equally-sized positions, well below its 79 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.91), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Add CTRA
+252.1% $202.0M
Add DAR
+278.6% $174.0M
Trim EXE
-67.5% -$99.3M
Add VST
+180.8% $103.6M
Add OVV
+18.6% $112.7M
Add CVE
+129.8% $91.5M
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CTRA | Coterra Energy INC | Stock-Energy | 4.97% | +3.71% | +252.14% | |
| 2 | OVV | Ovintiv INC | Stock-Energy | 4.92% | +1.66% | +18.56% | |
| 3 | DAR | Darling Ingredients INC | Stock-Consumer Staples | 3.98% | +3.25% | +278.60% | |
| 4 | SU | Suncor Energy INC | Stock-Energy | 3.97% | +0.62% | -5.30% | |
| 5 | VST | Vistra CORP | Stock-Utilities | 3.25% | +1.78% | +180.79% | |
| 6 | BP | Bp Plc-spons Adr | Stock-Energy | 3.22% | +0.82% | +17.73% | |
| 7 | TRGP | Targa Resources CORP | Stock-Energy | 3.15% | — | -13.49% | |
| 8 | BG | Bunge Global SA | Stock-Consumer Staples | 2.75% | +0.43% | -1.25% | |
| 9 | SRE | Sempra | Stock-Utilities | 2.66% | — | -8.68% | |
| 10 | PR | Permian Resources Corp-cl A | Stock-Energy | 2.54% | +0.52% | -1.83% | |
| 11 | LNG | Cheniere Energy INC | Stock-Energy | 2.52% | +0.96% | +31.80% | |
| 12 | NRG | Nrg Energy INC | Stock-Utilities | 2.52% | — | +16.36% | |
| 13 | CNP | Centerpoint Energy INC | Stock-Utilities | 2.47% | — | +1.91% | |
| 14 | CVE | Cenovus Energy INC | Stock-Energy | 2.45% | +1.64% | +129.78% | |
| 15 | ETR | Entergy CORP | Stock-Utilities | 2.38% | -1.44% | -39.09% | |
| 16 | XEL | Xcel Energy INC | Stock-Utilities | 2.36% | -1.32% | -29.35% | |
| 17 | WMB | Williams Cos INC | Stock-Energy | 2.35% | — | -28.73% | |
| 18 | DTM | Dt Midstream INC | Stock-Energy | 2.18% | — | -19.91% | |
| 19 | NVT | nVent Electric plc | Stock-Industrials | 2.18% | — | -28.84% | |
| 20 | HUBB | Hubbell INC | Stock-Industrials | 2.06% | +1.01% | +110.20% | |
| 21 | PRIM | Primoris Services CORP | Stock-Industrials | 1.87% | — | -13.67% | |
| 22 | TTE | Totalenergies Se | Stock-Other | 1.67% | +1.67% | NEW | |
| 23 | CNR | Core Natural Resources INC | Stock-Energy | 1.47% | +0.78% | +114.09% | |
| 24 | MPC | Marathon Petroleum CORP | Stock-Energy | 1.47% | +1.47% | NEW | |
| 25 | MTZ | Mastec INC | Stock-Industrials | 1.39% | -1.46% | -60.81% | |
| 26 | COP | Conocophillips | Stock-Energy | 1.33% | +1.33% | NEW | |
| 27 | EQT | Eqt CORP | Stock-Energy | 1.32% | — | +26.57% | |
| 28 | DINO | Hf Sinclair CORP | Stock-Energy | 1.27% | +1.27% | NEW | |
| 29 | VG | Venture Global Inc-cl A | Stock-Energy | 1.27% | +1.27% | NEW | |
| 30 | ST | Sensata Technologies Holding plc | Stock-Tech | 1.23% | +0.54% | +98.61% | |
| 31 | FCX | Freeport-mcmoran INC | Stock-Materials | 1.14% | -1.09% | -47.69% | |
| 32 | FTI | TechnipFMC plc | Stock-Energy | 1.12% | — | -44.66% | |
| 33 | IAG | Iamgold CORP | Stock-Other | 1.08% | — | -11.46% | |
| 34 | LYB | LyondellBasell Industries N.V. | Stock-Materials | 1.02% | +1.02% | NEW | |
| 35 | FANG | Diamondback Energy INC | Stock-Energy | 1.02% | -1.19% | -58.44% | |
| 36 | Q | Qnity Electronics INC | Stock-Tech | 0.97% | — | -50.65% | |
| 37 | NUE | Nucor CORP | Stock-Materials | 0.96% | — | +43.75% | |
| 38 | SOLS | Solstice Adv Materials INC | Stock-Materials | 0.95% | +0.95% | NEW | |
| 39 | EXE | Expand Energy CORP | Stock-Energy | 0.92% | -2.45% | -67.52% | |
| 40 | BKV | Bkv Corporation | Stock-Other | 0.91% | — | -1.76% | |
| 41 | RAL | Ralliant CORP | Stock-Tech | 0.90% | +0.90% | NEW | |
| 42 | WTTR | Select Water Solutions INC | Stock-Other | 0.86% | +0.86% | NEW | |
| 43 | LGN | Legence Corp-cl A | Stock-Other | 0.79% | — | -35.97% | |
| 44 | AR | Antero Resources CORP | Stock-Energy | 0.78% | — | +30.71% | |
| 45 | CGAU | Centerra Gold INC | Stock-Other | 0.78% | — | +0.51% | |
| 46 | XOM | Exxon Mobil CORP | Stock-Energy | 0.77% | -1.17% | -66.75% | |
| 47 | CMI | Cummins INC | Stock-Industrials | 0.77% | — | -30.67% | |
| 48 | SDRL | Seadrill Limited | Stock-Other | 0.76% | +0.76% | NEW | |
| 49 | NE | Noble Corporation plc | Stock-Energy | 0.74% | +0.74% | NEW | |
| 50 | JHX | James Hardie Industries plc | Stock-Other | 0.72% | — | +123.34% |
Performance for Q3 2026
-4.1%
Performance Last 4 Quarters
+36.5%
Based on 69% of reported portfolio value with available pricing
| Period | Holdings | Total value | Stability | Top holdings |
|---|---|---|---|---|
| 2026-03-31 | 79 | $5.2B | 71 | |
| 2025-12-31 | 77 | $4.3B | 72 | |
| 2025-09-30 | 70 | $4.2B | 100 | |
| 2025-06-30 | 63 | $3.5B | 0 | |
| 2025-03-31 | 54 | $2.8B | 100 | |
| 2024-12-31 | 52 | $2.5B | 0 | |
| 2024-09-30 | 46 | $2.2B | 0 | |
| 2024-06-30 | 44 | $1.9B | 0 | |
| 2024-03-31 | 44 | $1.9B | 0 | |
| 2023-12-31 | 45 | $1.7B | 0 | |
| 2023-09-30 | 40 | $1.7B | 0 | |
| 2023-06-30 | 34 | $1.4B | 0 | |
| 2023-03-31 | 36 | $1.1B | 0 | |
| 2022-12-31 | 31 | $1.0B | 0 | |
| 2022-09-30 | 34 | $997.8M | 0 | |
| 2022-06-30 | 33 | $771.5M | 0 | |
| 2022-03-31 | 33 | $981.5M | 0 | |
| 2021-12-31 | 40 | $942.7M | 0 | |
| 2021-09-30 | 33 | $710.5M | 0 | |
| 2021-06-30 | 34 | $568.7M | 81 | |
| 2021-03-31 | 32 | $621.2M | 96 | |
| 2020-12-31 | 27 | $388.5M | 0 |
Merewether Investment Management, LP's most significant position changes for 2026-03-31: New buy: Totalenergies Se (TTE); Sold out: First Solar INC (FSLR); New buy: Marathon Petroleum CORP (MPC); New buy: Conocophillips (COP); New buy: Hf Sinclair CORP (DINO).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | CTRA | Coterra Energy INC | +3.7% | +252.14% | Add |
| 2 | DAR | Darling Ingredients INC | +3.3% | +278.60% | Add |
| 3 | VST | Vistra CORP | +1.8% | +180.79% | Add |
| 4 | OVV | Ovintiv INC | +1.7% | +18.56% | Add |
| 5 | CVE | Cenovus Energy INC | +1.6% | +129.78% | Add |
| 6 | HUBB | Hubbell INC | +1% | +110.20% | Add |
| 7 | LNG | Cheniere Energy INC | +1% | +31.80% | Add |
| 8 | BP | Bp Plc-spons Adr | +0.8% | +17.73% | Add |
| 9 | CNR | Core Natural Resources INC | +0.8% | +114.09% | Add |
| 10 | SU | Suncor Energy INC | +0.6% | -5.30% | Trim |
| 11 | ST | Sensata Technologies Holding plc | +0.5% | +98.61% | Add |
| 12 | PR | Permian Resources Corp-cl A | +0.5% | -1.83% | Trim |
| 13 | BG | Bunge Global SA | +0.4% | -1.25% | Trim |
| 14 | WULF | Terawulf INC | -0.6% | -98.34% | Trim |
| 15 | GTX | Garrett Motion INC | -0.7% | -95.35% | Trim |
| 16 | ATO | Atmos Energy CORP | -0.7% | -69.98% | Trim |
| 17 | 6D8 | Dupont De Nemours INC | -1.1% | -93.15% | Trim |
| 18 | FCX | Freeport-mcmoran INC | -1.1% | -47.69% | Trim |
| 19 | GM | General Motors Co | -1.1% | -95.80% | Trim |
| 20 | XOM | Exxon Mobil CORP | -1.2% | -66.75% | Trim |
| 21 | FANG | Diamondback Energy INC | -1.2% | -58.44% | Trim |
| 22 | XEL | Xcel Energy INC | -1.3% | -29.35% | Trim |
| 23 | ETR | Entergy CORP | -1.4% | -39.09% | Trim |
| 24 | MTZ | Mastec INC | -1.5% | -60.81% | Trim |
| 25 | EXE | Expand Energy CORP | -2.5% | -67.52% | Trim |
| 26 | TTE | Totalenergies Se | — | NEW | New buy |
| 27 | FSLR | First Solar INC | — | EXIT | Sold out |
| 28 | MPC | Marathon Petroleum CORP | — | NEW | New buy |
| 29 | COP | Conocophillips | — | NEW | New buy |
| 30 | DINO | Hf Sinclair CORP | — | NEW | New buy |
| 31 | VG | Venture Global Inc-cl A | — | NEW | New buy |
| 32 | VLO | Valero Energy CORP | — | EXIT | Sold out |
| 33 | B | Barrick Mining CORP | — | EXIT | Sold out |
| 34 | LYB | LyondellBasell Industries N.V. | — | NEW | New buy |
| 35 | SOLS | Solstice Adv Materials INC | — | NEW | New buy |
| 36 | AA | Alcoa CORP | — | EXIT | Sold out |
| 37 | RAL | Ralliant CORP | — | NEW | New buy |
| 38 | WTTR | Select Water Solutions INC | — | NEW | New buy |
| 39 | AYI | Acuity INC | — | EXIT | Sold out |
| 40 | CLF | Cleveland-cliffs INC | — | EXIT | Sold out |
| 41 | SHEL | Shell Plc-adr | — | EXIT | Sold out |
| 42 | SDRL | Seadrill Limited | — | NEW | New buy |
| 43 | NE | Noble Corporation plc | — | NEW | New buy |
| 44 | FNV | Franco-nevada CORP | — | NEW | New buy |
| 45 | CRH | CRH plc | — | NEW | New buy |
| 46 | CTRI | Centuri Holdings INC | — | EXIT | Sold out |
| 47 | SLB | Slb LTD | — | EXIT | Sold out |
| 48 | PTEN | Patterson-uti Energy INC | — | NEW | New buy |
| 49 | CENX | Century Aluminum Company | — | NEW | New buy |
| 50 | GNRC | Generac Holdings INC | — | EXIT | Sold out |
| 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 | 2022-08-16 | 13F-HR | View on EDGAR |
| 2022-03-31 | 2022-08-16 | Amendment | 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 | 2021-08-16 | 13F-HR | View on EDGAR |
| 2021-03-31 | 2021-05-17 | 13F-HR | View on EDGAR |
| 2020-12-31 | 2021-05-19 | Amendment | View on EDGAR |
| 2020-12-31 | 2021-02-16 | 13F-HR | View on EDGAR |
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