GeoSphere Capital Management, LLC In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), GeoSphere Capital Management, LLC reported 33 stock positions worth $120.4 million . Its top holding was Kinross Gold (KGC) at 5.5% of the portfolio, followed by Consol Energy (5.2% ) and Cameco (CCJ, 5.2% ). Compared with Q2 2024, it opened 16 new positions, sold out of 9, added to 8 and reduced 9. The biggest buy was a new position in Star Bulk Carriers (SBLK) and the biggest sale an exit from Zim Integrated Shipping Serv (ZIM).
Location MIAMI BEACH, FL
CIK 0001426876
Portfolio Value $120.4M (Q3 2024) Holdings 33 stocks · $120.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q2 2024 KGC Kinross Gold Corp. 706,600 $6.6M Add +11.3% CONSOL ENERGY INC 60,000 $6.3M Reduce -17.8% CCJ Cameco Corp. 130,000 $6.2M Add +6.6% SBLK Star Bulk Carriers Corp. 260,000 $6.2M New COP Conocophillips 58,000 $6.1M New VALE Vale SA-SP ADR 500,000 $5.8M New CNQ Canadian Natural Resources 170,000 $5.6M Add +17.2% AMR Alpha Metallurgical Resource 22,000 $5.2M New NEM Newmont Corp. 97,000 $5.2M Add +98.0% EQT Eqt Corp. 130,000 $4.8M New HCC Warrior Met Coal Inc. 65,000 $4.2M Add +8.3% FRO Frontline PLC 176,625 $4.0M New INSW International Seaways Inc. 75,000 $3.9M New PR Permian Resources Corp. Class A 275,000 $3.7M New STNG Scorpio Tankers Inc. 50,500 $3.6M Reduce -48.5% BKV BKV Corporation 191,510 $3.5M New AA Alcoa Corp. 90,000 $3.5M Reduce -46.2% HL Hecla Mining Co. 500,000 $3.3M Reduce -9.1% SDRL Seadrill Limited 80,000 $3.2M Add +33.3% CVE Cenovus Energy Inc. 181,000 $3.0M Reduce -58.5% METC Ramaco Resources Inc. Class A 250,000 $2.9M Add +11.0% AR Antero Resources Corp. 100,000 $2.9M Reduce -37.9% MP MP Materials Corp. 150,000 $2.6M New WFRD Weatherford International PL 30,000 $2.5M Reduce -69.1% KOS Kosmos Energy Ltd. 600,000 $2.4M Add +89.4% ERO Ero Copper Corp. 100,000 $2.2M New EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP 27,000 $2.2M New GNK Genco Shipping & Trading Ltd. 100,000 $1.9M New NVGS Navigator Holdings Ltd. 100,000 $1.6M New UEC Uranium Energy Corp. 250,000 $1.6M Reduce -45.6% STLD Steel Dynamics Inc. 12,000 $1.5M New BTU Peabody Energy Corp. 43,071 $1.1M New EU Encore Energy Corp. 220,049 $889K Reduce -64.5%
Options reported separately and not counted above: IWM puts ($6.6M), ALB calls ($2.4M), GDX puts ($2.0M), MP calls ($1.8M).
Portfolio Sells Q2 2024 → Q3 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▲ ZIM Zim Integrated Shipping Serv Sold out 0.00% −10.17 WFRD Weatherford International PL Reduce -69.1% 2.12% −7.12 CVE Cenovus Energy Inc. Reduce -58.5% 2.51% −4.15 XPRO Expro Group Holdings NV Sold out 0.00% −3.92 HOS Hornbeck Offshore Services I Sold out 0.00% −3.85 BP BP PLC-Spons ADR Sold out 0.00% −3.79 PAAS Pan American Silver Corp. Sold out 0.00% −3.43 STNG Scorpio Tankers Inc. Reduce -48.5% 2.99% −3.20 TDW Tidewater Inc. Sold out 0.00% −2.92 ARCH Arch Resources Inc. Sold out 0.00% −2.37 AA Alcoa Corp. Reduce -46.2% 2.88% −2.29 SLB SLB Ltd. Sold out 0.00% −1.83 AR Antero Resources Corp. Reduce -37.9% 2.38% −1.70 CRK Comstock Resources Inc. Sold out 0.00% −1.21 EU Encore Energy Corp. Reduce -64.5% 0.74% −1.16 UEC Uranium Energy Corp. Reduce -45.6% 1.29% −0.86 CONSOL ENERGY INC Reduce -17.8% 5.21% −0.58 HL Hecla Mining Co. Reduce -9.1% 2.77% +0.70
Portfolio Buys Q2 2024 → Q3 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q2 2024 % Of Portfolio Change To Portfolio ▼ SBLK Star Bulk Carriers Corp. New 5.12% +5.12 COP Conocophillips New 5.07% +5.07 VALE Vale SA-SP ADR New 4.85% +4.85 AMR Alpha Metallurgical Resource New 4.31% +4.31 EQT Eqt Corp. New 3.96% +3.96 FRO Frontline PLC New 3.35% +3.35 INSW International Seaways Inc. New 3.21% +3.21 PR Permian Resources Corp. Class A New 3.11% +3.11 BKV BKV Corporation New 2.91% +2.91 NEM Newmont Corp. Add +98.0% 4.31% +2.71 MP MP Materials Corp. New 2.20% +2.20 ERO Ero Copper Corp. New 1.85% +1.85 EXE Expand Energy Corp. New 1.84% +1.84 GNK Genco Shipping & Trading Ltd. New 1.62% +1.62 KGC Kinross Gold Corp. Add +11.3% 5.49% +1.39 NVGS Navigator Holdings Ltd. New 1.33% +1.33 STLD Steel Dynamics Inc. New 1.26% +1.26 BTU Peabody Energy Corp. New 0.95% +0.95 CNQ Canadian Natural Resources Add +17.2% 4.69% +0.68 KOS Kosmos Energy Ltd. Add +89.4% 2.01% +0.64 HCC Warrior Met Coal Inc. Add +8.3% 3.45% +0.52 CCJ Cameco Corp. Add +6.6% 5.16% +0.49 METC Ramaco Resources Inc. Class A Add +11.0% 2.43% +0.25 SDRL Seadrill Limited Add +33.3% 2.64% +0.24
Options Activity Q2 2024 → Q3 2024 Security Type Change vs Q2 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Sold out 120,000 $65.3Mbefore exit IWM iShares Russell 2000 ETF put New 30,000 $6.6M SLB SLB Ltd. call Sold out 100,000 $4.7Mbefore exit XLI SS Industrial Select Sector put Sold out 30,000 $3.7Mbefore exit ALB Albemarle Corp. call New 25,000 $2.4M GDX Vaneck Gold Miners ETF put New 50,000 $2.0M MP MP Materials Corp. call New 100,000 $1.8M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 38 $193.0M NESR, BKV, WULF, CNR, FLR Q1 2026 40 $166.2M BKV, CNR, NESR, VIST, CCJ Q4 2025 34 $144.8M NESR, BKV, CNR, CCJ, SEI Q3 2025 40 $131.0M NESR, BKV, CCJ, SEI, CVE Q2 2025 39 $97.5M CCJ, BKV, NESR, SEI, GLNG Q1 2025 28 $85.4M FNV, EQT, NESR, CNR, BKV Q4 2024 30 $99.5M NESR, EQT, CONSOL ENERGY INC, BKV, FANG Q3 2024 33 $120.4M KGC, CONSOL ENERGY INC, CCJ, SBLK, COP Q2 2024 26 $128.7M ZIM, WFRD, CVE, STNG, CONSOL ENERGY INC Q1 2024 24 $119.9M WFRD, CVE, STNG, METC, TDW