LSP Investment Advisors, LLC
In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), LSP Investment Advisors, LLC reported 20 stock positions worth $139.4 million. Its top holding was SS SPDR S&P 500 ETF Trust-US (SPY) at 24.8% of the portfolio, followed by Eqt (EQT, 24.2%) and Expand Energy (EXE, 19.0%). Compared with Q1 2025, it sold out of 1, added to 3 and reduced 1. The biggest buy was Comstock Resources (CRK, shares +55%) and the biggest sale an exit from Warrior Met Coal (HCC).
- Most Recent 13F
- Q2 2026
- Location
- New York, NY
- CIK
- 0001728850
- Portfolio Value
- $139.4M (Q2 2025)
- SEC Filing
- 0001172661-25-003488 ↗ filed Aug 14, 2025
Holdings Value
Holdings 20 stocks · $139.4M
| SPY SS SPDR S&P 500 ETF Trust-US | 24.82% | 55,990 | $34.6M | No change |
| EQT Eqt Corp. | 24.16% | 577,500 | $33.7M | Add +19.4% |
| EXE Expand Energy Corp. | 19.03% | 226,817 | $26.5M | Add +24.8% |
| CRK Comstock Resources Inc. | 5.62% | 283,000 | $7.8M | Add +54.6% |
| EEM iShares MSCI Emerging Market | 3.77% | 108,830 | $5.2M | No change |
| MSFT Microsoft Corp. | 2.95% | 8,280 | $4.1M | No change |
| AR Antero Resources Corp. | 2.74% | 94,700 | $3.8M | No change |
| GOOG Alphabet Inc. Class C | 2.72% | 21,400 | $3.8M | No change |
| GDX Vaneck Gold Miners ETF | 2.63% | 70,500 | $3.7M | No change |
| IWM iShares Russell 2000 ETF | 2.40% | 15,500 | $3.3M | No change |
| AMZN Amazon.com Inc. | 2.23% | 14,200 | $3.1M | No change |
| BATL Battalion Oil Corp. | 2.19% | 2,369,769 | $3.1M | No change |
| EWJ iShares MSCI Japan ETF | 1.61% | 30,000 | $2.2M | No change |
| GDXJ Vaneck Junior Gold Miners | 0.66% | 13,584 | $918K | No change |
| HOOD Robinhood Markets Inc. Class A | 0.53% | 7,864 | $736K | Reduce -48.8% |
| CEG Constellation Energy | 0.51% | 2,208 | $713K | No change |
| CNP Centerpoint Energy Inc. | 0.43% | 16,250 | $597K | No change |
| EXC Exelon Corp. | 0.41% | 13,274 | $576K | No change |
| PEG Public Service Enterprise GP | 0.32% | 5,350 | $450K | No change |
| DUK Duke Energy Corp. | 0.26% | 3,060 | $361K | No change |
Portfolio Sells Q1 2025 → Q2 2025
Portfolio Buys Q1 2025 → Q2 2025
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 18 | $108.9M | EXE, EQT, GPOR, SPY, GOOG |
| Q1 2026 | 19 | $137.7M | EXE, EQT, GPOR, SPY, GDX |
| Q4 2025 | 21 | $188.1M | EXE, EQT, GPOR, SPY, CRK |
| Q3 2025 | 22 | $166.4M | EQT, SPY, EXE, GPOR, CRK |
| Q2 2025 | 20 | $139.4M | SPY, EQT, EXE, CRK, EEM |
| Q1 2025 | 21 | $116.4M | SPY, EQT, EXE, EEM, AR |
| Q4 2024 | 21 | $143.3M | XEL, SPY, EXE, SM, EEM |
| Q3 2024 | 26 | $185.7M | XEL, SPY, ARCH, BATL, EXE |
| Q2 2024 | 27 | $176.1M | SPY, ARCH, XEL, VTLE, SM |
| Q1 2024 | 26 | $185.5M | ARCH, SPY, XEL, BATL, SM |