Fearnley Asset Management As

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed March 3, 2026), Fearnley Asset Management As reported 21 stock positions worth $217.9 million. Its top holding was Antero Resources (AR) at 11.2% of the portfolio, followed by Okeanis Eco Tankers (ECO, 8.6%) and Range Resources (RRC, 8.2%).

Most Recent 13F
Q2 2026
Location
OSLO, Q8
CIK
0002056821
Portfolio Value
$217.9M (Q4 2025)
SEC Filing
0001892688-26-000052 ↗ filed Mar 3, 2026

Holdings Value

0$100.0M$200.0M$300.0M$400.0M Q4 2025: $217.9M $217.9M Q4 2025 Q1 2026: $306.0M Q1 2026 Q2 2026: $278.1M Q2 2026

Holdings 21 stocks · $217.9M

AR Antero Resources Corp. 11.25% 711,300 $24.5M —
ECO Okeanis Eco Tankers Corp. 8.58% 555,247 $18.7M —
RRC Range Resources Corp. 8.23% 508,430 $17.9M —
TNK Teekay Tankers Ltd. Class A 8.21% 334,894 $17.9M —
PBR Petroleo Brasileiro-Spon ADR 8.07% 1,484,400 $17.6M —
VTOL Bristow Group Inc. 7.78% 462,634 $16.9M —
SM SM Energy Co. 7.52% 875,900 $16.4M —
EXE Expand Energy Corp. 5.57% 109,970 $12.1M —
SBLK Star Bulk Carriers Corp. 5.09% 577,316 $11.1M —
CMBT CMB Tech NV 4.72% 1,065,737 $10.3M —
SLB SLB Ltd. filed as SLB LIMITED 3.94% 223,400 $8.6M —
PR Permian Resources Corp. Class A 3.29% 511,400 $7.2M —
FRO Frontline PLC 3.21% 317,291 $7.0M —
INSW International Seaways Inc. 2.87% 128,900 $6.3M —
BWLP BW LPG Ltd. 2.47% 411,660 $5.4M —
SB Safe Bulkers Inc. 2.35% 1,060,598 $5.1M —
TRMD Torm PLC-A 1.86% 202,849 $4.0M —
PAAS Pan American Silver Corp. 1.50% 62,900 $3.3M —
HAFN Hafnia Ltd. 1.46% 590,368 $3.2M —
SFL SFL Corp. Ltd. 1.19% 332,400 $2.6M —
TS Tenaris SA-ADR 0.85% 48,000 $1.8M —

Portfolio Sells Q4 2025

No earlier filing to compare with.

Portfolio Buys Q4 2025

No earlier filing to compare with.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 16$278.1MSM, AR, VTOL, PBR, MTDR
Q1 2026 19$306.0MSM, PBR, MTDR, VTOL, HAFN
Q4 2025Amended 21$217.9MAR, ECO, RRC, TNK, PBR