Merewether Investment Management, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Merewether Investment Management, LP reported 79 stock positions worth $5.2 billion. Its top holding was Coterra Energy (CTRA) at 5.0% of the portfolio, followed by Ovintiv (OVV, 4.9%) and Darling Ingredients (DAR, 4.0%). Compared with Q4 2025, it opened 23 new positions, sold out of 21, added to 20 and reduced 36. The biggest buy was Coterra Energy (CTRA, shares +252%) and the biggest sale Expand Energy (EXE, shares −68%).
- Most Recent 13F
- Q2 2026
- Location
- DALLAS, TX
- CIK
- 0001736852
- Portfolio Value
- $5.2B (Q1 2026)
- SEC Filing
- 0001420506-26-001143 ↗ filed May 15, 2026
Holdings Value
Holdings 79 stocks · $5.2B
| CTRA Coterra Energy Inc. | 4.97% | 7,301,691 | $256.6M | Add +252.1% |
| OVV Ovintiv Inc. | 4.92% | 4,283,314 | $254.3M | Add +18.6% |
| DAR Darling Ingredients Inc. | 3.98% | 3,324,523 | $205.6M | Add +278.6% |
| SU Suncor Energy Inc. | 3.97% | 3,103,851 | $205.2M | Reduce -5.3% |
| VST Vistra Corp. | 3.25% | 1,115,621 | $167.7M | Add +180.8% |
| BP BP PLC-Spons ADR | 3.22% | 3,541,397 | $166.4M | Add +17.7% |
| TRGP Targa Resources Corp. | 3.15% | 648,440 | $162.6M | Reduce -13.5% |
| BG Bunge Global SA | 2.75% | 1,118,543 | $142.3M | Reduce -1.3% |
| SRE Sempra | 2.66% | 1,412,788 | $137.3M | Reduce -8.7% |
| PR Permian Resources Corp. Class A | 2.54% | 6,148,515 | $131.1M | Reduce -1.8% |
| LNG Cheniere Energy Inc. | 2.52% | 459,471 | $130.4M | Add +31.8% |
| NRG NRG Energy Inc. | 2.52% | 890,906 | $130.2M | Add +16.4% |
| CNP Centerpoint Energy Inc. | 2.47% | 2,952,405 | $127.4M | Add +1.9% |
| CVE Cenovus Energy Inc. | 2.45% | 4,771,600 | $126.6M | Add +129.8% |
| ETR Entergy Corp. | 2.38% | 1,094,542 | $123.0M | Reduce -39.1% |
| XEL Xcel Energy Inc. | 2.36% | 1,531,542 | $121.7M | Reduce -29.4% |
| WMB Williams Cos Inc. | 2.35% | 1,668,428 | $121.4M | Reduce -28.7% |
| DTM DT Midstream Inc. | 2.18% | 835,006 | $112.5M | Reduce -19.9% |
| NVT Nvent Electric PLC | 2.18% | 950,331 | $112.4M | Reduce -28.8% |
| HUBB Hubbell Inc. | 2.06% | 216,337 | $106.2M | Add +110.2% |
| PRIM Primoris Services Corp. | 1.87% | 674,839 | $96.5M | Reduce -13.7% |
| TTE Totalenergies SE | 1.67% | 949,800 | $86.4M | New |
| CNR Core Natural Resources Inc. | 1.47% | 726,634 | $76.1M | Add +114.1% |
| MPC Marathon Petroleum Corp. | 1.47% | 310,500 | $75.8M | New |
| MTZ Mastec Inc. | 1.39% | 223,061 | $71.8M | Reduce -60.8% |
| COP Conocophillips | 1.33% | 522,192 | $68.9M | New |
| EQT Eqt Corp. | 1.32% | 1,069,850 | $68.1M | Add +26.6% |
| DINO HF Sinclair Corp. | 1.27% | 1,054,435 | $65.8M | New |
| VG Venture Global Inc. Class A | 1.27% | 4,154,300 | $65.5M | New |
| ST Sensata Technologies Holdplc | 1.23% | 1,796,642 | $63.3M | Add +98.6% |
| FCX Freeport-McMoran Inc. | 1.14% | 998,764 | $58.7M | Reduce -47.7% |
| FTI Technipfmc PLC | 1.12% | 836,283 | $57.8M | Reduce -44.7% |
| IAG Iamgold Corp. | 1.08% | 2,953,542 | $55.6M | Reduce -11.5% |
| LYB Lyondellbasell Indu Class A | 1.02% | 654,687 | $52.7M | New |
| FANG Diamondback Energy Inc. | 1.02% | 266,065 | $52.6M | Reduce -58.4% |
| Q Qnity Electronics Inc. | 0.97% | 433,284 | $50.0M | Reduce -50.6% |
| NUE Nucor Corp. | 0.96% | 293,114 | $49.6M | Add +43.8% |
| SOLS Solstice Adv Materials Inc. | 0.95% | 642,451 | $48.9M | New |
| EXE Expand Energy Corp. | 0.92% | 431,690 | $47.4M | Reduce -67.5% |
| BKV BKV Corporation | 0.91% | 1,646,773 | $47.0M | Reduce -1.8% |
| RAL Ralliant Corp. | 0.90% | 1,112,250 | $46.3M | New |
| WTTR Select Water Solutions Inc. | 0.86% | 2,889,000 | $44.2M | New |
| LGN Legence Corp. Class A | 0.79% | 726,336 | $41.0M | Reduce -36.0% |
| AR Antero Resources Corp. | 0.78% | 951,200 | $40.4M | Add +30.7% |
| CGAU Centerra Gold Inc. | 0.78% | 2,264,523 | $40.1M | Add +0.5% |
| XOM Exxon Mobil Corp. | 0.77% | 233,262 | $39.6M | Reduce -66.8% |
| CMI Cummins Inc. | 0.77% | 73,528 | $39.6M | Reduce -30.7% |
| SDRL Seadrill Limited | 0.76% | 867,338 | $39.5M | New |
| NE Noble Corp. PLC | 0.74% | 779,215 | $38.2M | New |
| JHX James Hardie Ind PLC | 0.72% | 1,957,830 | $37.1M | Add +123.3% |
| FNV Franco-Nevada Corp. | 0.69% | 144,000 | $35.6M | New |
| CRH CRH PLC | 0.69% | 338,119 | $35.5M | New |
| PTEN Patterson-Uti Energy Inc. | 0.63% | 3,003,324 | $32.5M | New |
| FIX Comfort Systems USA Inc. | 0.60% | 22,351 | $30.8M | Reduce -51.8% |
| CENX Century Aluminum Company | 0.58% | 514,800 | $30.2M | New |
| LBRT Liberty Energy Inc. | 0.58% | 1,031,575 | $29.7M | Add +8.5% |
| ARIS Aris Mining Corp. | 0.50% | 1,396,396 | $25.9M | Reduce -17.6% |
| WLK Westlake Corp. | 0.50% | 219,900 | $25.7M | Reduce -43.3% |
| CCJ Cameco Corp. | 0.49% | 233,810 | $25.4M | Add +163.1% |
| LECO Lincoln Electric Holdings | 0.45% | 93,508 | $23.3M | Reduce -1.4% |
| PARR Par Pacific Holdings Inc. | 0.45% | 369,465 | $23.1M | Reduce -49.7% |
| OLN Olin Corp. | 0.36% | 623,377 | $18.5M | New |
| NXT Nextpower Inc. | 0.31% | 133,207 | $16.1M | Add +49.7% |
| PSX Phillips 66 | 0.29% | 82,300 | $15.0M | New |
| DNN Denison Mines Corp. | 0.29% | 4,208,160 | $14.9M | Reduce -28.7% |
| SLI Standard Lithium Ltd. | 0.26% | 3,972,396 | $13.5M | Reduce -1.6% |
| ATO Atmos Energy Corp. | 0.26% | 71,509 | $13.2M | Reduce -70.0% |
| BKR Baker Hughes Co. | 0.20% | 173,400 | $10.6M | New |
| ET Energy Transfer LP | 0.19% | 516,200 | $10.0M | New |
| FLS Flowserve Corp. | 0.11% | 75,100 | $5.5M | New |
| HUT Hut 8 Corp. | 0.10% | 114,909 | $5.4M | Reduce -70.8% |
| CE Celanese Corp. | 0.10% | 74,600 | $4.9M | New |
| DD Dupont DE Nemours Inc. | 0.08% | 85,460 | $3.9M | Reduce -93.2% |
| TBN Tamboran Resources Corp. | 0.07% | 68,879 | $3.4M | Reduce -1.6% |
| GM General Motors Co. | 0.04% | 26,628 | $2.0M | Reduce -95.8% |
| ALB Albemarle Corp. | 0.03% | 9,640 | $1.7M | New |
| MT Arcelormittal-NY Registered | 0.03% | 28,173 | $1.4M | New |
| GTX Garrett Motion Inc. | 0.03% | 78,363 | $1.4M | Reduce -95.3% |
| WULF Terawulf Inc. | 0.01% | 35,912 | $518K | Reduce -98.3% |
Portfolio Sells Q4 2025 → Q1 2026
| EXE Expand Energy Corp. | Reduce -67.5% | 0.92% | −2.46 |
| FSLR First Solar Inc. | Sold out | 0.00% | −1.95 |
| MTZ Mastec Inc. | Reduce -60.8% | 1.39% | −1.46 |
| ETR Entergy Corp. | Reduce -39.1% | 2.38% | −1.44 |
| VLO Valero Energy Corp. | Sold out | 0.00% | −1.34 |
| B Barrick Mining Corp. | Sold out | 0.00% | −1.33 |
| XEL Xcel Energy Inc. | Reduce -29.4% | 2.36% | −1.33 |
| FANG Diamondback Energy Inc. | Reduce -58.4% | 1.02% | −1.19 |
| XOM Exxon Mobil Corp. | Reduce -66.8% | 0.77% | −1.18 |
| GM General Motors Co. | Reduce -95.8% | 0.04% | −1.15 |
| FCX Freeport-McMoran Inc. | Reduce -47.7% | 1.14% | −1.09 |
| AA Alcoa Corp. | Sold out | 0.00% | −1.08 |
| DD Dupont DE Nemours Inc. | Reduce -93.2% | 0.08% | −1.08 |
| AYI Acuity Inc. | Sold out | 0.00% | −0.96 |
| NVT Nvent Electric PLC | Reduce -28.8% | 2.18% | −0.96 |
| CLF Cleveland-Cliffs Inc. | Sold out | 0.00% | −0.95 |
| SHEL Shell PLC-ADR | Sold out | 0.00% | −0.91 |
| WMB Williams Cos Inc. | Reduce -28.7% | 2.35% | −0.89 |
| CTRI Centuri Holdings Inc. | Sold out | 0.00% | −0.78 |
| SLB SLB Ltd. | Sold out | 0.00% | −0.76 |
| DTM DT Midstream Inc. | Reduce -19.9% | 2.18% | −0.69 |
| Q Qnity Electronics Inc. | Reduce -50.6% | 0.97% | −0.68 |
| ATO Atmos Energy Corp. | Reduce -70.0% | 0.26% | −0.66 |
| GTX Garrett Motion Inc. | Reduce -95.3% | 0.03% | −0.65 |
| GNRC Generac Holdings Inc. | Sold out | 0.00% | −0.59 |
| WULF Terawulf Inc. | Reduce -98.3% | 0.01% | −0.56 |
| WHD Cactus Inc. Class A | Sold out | 0.00% | −0.53 |
| SRE Sempra | Reduce -8.7% | 2.66% | −0.48 |
| CMI Cummins Inc. | Reduce -30.7% | 0.77% | −0.48 |
| TASEKO MINES LTD | Sold out | 0.00% | −0.48 |
| FTI Technipfmc PLC | Reduce -44.7% | 1.12% | −0.43 |
| WBI Waterbridge Infrastruc Class A | Sold out | 0.00% | −0.40 |
| FIX Comfort Systems USA Inc. | Reduce -51.8% | 0.60% | −0.40 |
| STNG Scorpio Tankers Inc. | Sold out | 0.00% | −0.38 |
| PRIM Primoris Services Corp. | Reduce -13.7% | 1.87% | −0.36 |
| LGN Legence Corp. Class A | Reduce -36.0% | 0.79% | −0.33 |
| EGO Eldorado Gold Corp. | Sold out | 0.00% | −0.33 |
| HUT Hut 8 Corp. | Reduce -70.8% | 0.10% | −0.31 |
| KEX Kirby Corp. | Sold out | 0.00% | −0.31 |
| VNOM Viper Energy Inc. Class A | Sold out | 0.00% | −0.28 |
| STLD Steel Dynamics Inc. | Sold out | 0.00% | −0.21 |
| TLN Talen Energy Corp. | Sold out | 0.00% | −0.21 |
| IAG Iamgold Corp. | Reduce -11.5% | 1.08% | −0.19 |
| WLK Westlake Corp. | Reduce -43.3% | 0.50% | −0.16 |
| SLI Standard Lithium Ltd. | Reduce -1.6% | 0.26% | −0.15 |
| PARR Par Pacific Holdings Inc. | Reduce -49.7% | 0.45% | −0.15 |
| BKV BKV Corporation | Reduce -1.8% | 0.91% | −0.14 |
| ARIS Aris Mining Corp. | Reduce -17.6% | 0.50% | −0.13 |
| DNN Denison Mines Corp. | Reduce -28.7% | 0.29% | −0.07 |
| LECO Lincoln Electric Holdings | Reduce -1.4% | 0.45% | −0.07 |
Portfolio Buys Q4 2025 → Q1 2026
| CTRA Coterra Energy Inc. | Add +252.1% | 4.97% | +3.71 |
| DAR Darling Ingredients Inc. | Add +278.6% | 3.98% | +3.25 |
| VST Vistra Corp. | Add +180.8% | 3.25% | +1.77 |
| TTE Totalenergies SE | New | 1.67% | +1.67 |
| OVV Ovintiv Inc. | Add +18.6% | 4.92% | +1.67 |
| CVE Cenovus Energy Inc. | Add +129.8% | 2.45% | +1.64 |
| MPC Marathon Petroleum Corp. | New | 1.47% | +1.47 |
| COP Conocophillips | New | 1.33% | +1.33 |
| DINO HF Sinclair Corp. | New | 1.27% | +1.27 |
| VG Venture Global Inc. Class A | New | 1.27% | +1.27 |
| LYB Lyondellbasell Indu Class A | New | 1.02% | +1.02 |
| HUBB Hubbell Inc. | Add +110.2% | 2.06% | +1.00 |
| LNG Cheniere Energy Inc. | Add +31.8% | 2.52% | +0.97 |
| SOLS Solstice Adv Materials Inc. | New | 0.95% | +0.95 |
| RAL Ralliant Corp. | New | 0.90% | +0.90 |
| WTTR Select Water Solutions Inc. | New | 0.86% | +0.86 |
| BP BP PLC-Spons ADR | Add +17.7% | 3.22% | +0.82 |
| CNR Core Natural Resources Inc. | Add +114.1% | 1.47% | +0.78 |
| SDRL Seadrill Limited | New | 0.76% | +0.76 |
| NE Noble Corp. PLC | New | 0.74% | +0.74 |
| FNV Franco-Nevada Corp. | New | 0.69% | +0.69 |
| CRH CRH PLC | New | 0.69% | +0.69 |
| PTEN Patterson-Uti Energy Inc. | New | 0.63% | +0.63 |
| CENX Century Aluminum Company | New | 0.58% | +0.58 |
| ST Sensata Technologies Holdplc | Add +98.6% | 1.23% | +0.53 |
| OLN Olin Corp. | New | 0.36% | +0.36 |
| CCJ Cameco Corp. | Add +163.1% | 0.49% | +0.30 |
| JHX James Hardie Ind PLC | Add +123.3% | 0.72% | +0.30 |
| PSX Phillips 66 | New | 0.29% | +0.29 |
| EQT Eqt Corp. | Add +26.6% | 1.32% | +0.28 |
| BKR Baker Hughes Co. | New | 0.20% | +0.20 |
| AR Antero Resources Corp. | Add +30.7% | 0.78% | +0.20 |
| NUE Nucor Corp. | Add +43.8% | 0.96% | +0.19 |
| ET Energy Transfer LP | New | 0.19% | +0.19 |
| LBRT Liberty Energy Inc. | Add +8.5% | 0.58% | +0.17 |
| NXT Nextpower Inc. | Add +49.7% | 0.31% | +0.13 |
| FLS Flowserve Corp. | New | 0.11% | +0.11 |
| CE Celanese Corp. | New | 0.10% | +0.10 |
| ALB Albemarle Corp. | New | 0.03% | +0.03 |
| CGAU Centerra Gold Inc. | Add +0.5% | 0.78% | +0.03 |
| MT Arcelormittal-NY Registered | New | 0.03% | +0.03 |
| CNP Centerpoint Energy Inc. | Add +1.9% | 2.47% | −0.09 |
| NRG NRG Energy Inc. | Add +16.4% | 2.52% | −0.28 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 81 | $5.3B | DVN, OVV, ETR, VST, DAR |
| Q1 2026 | 79 | $5.2B | CTRA, OVV, DAR, SU, VST |
| Q4 2025 | 77 | $4.3B | ETR, XEL, EXE, SU, OVV |
| Q3 2025 | 70 | $4.2B | ETR, MTZ, SRE, NVT, EXE |
| Q2 2025 | 63 | $3.5B | VST, EQT, TRGP, SHEL, KMI |
| Q1 2025 | 54 | $2.8B | SHEL, VST, SU, TRGP, XOM |
| Q4 2024 | 52 | $2.5B | TRGP, TRP, SHEL, COP, VST |
| Q3 2024 | 46 | $2.2B | TRP, GEV, TRGP, COP, VST |
| Q2 2024 | 44 | $1.9B | VST, GEV, FANG, TRP, CVE |
| Q1 2024 | 42 | $1.9B | VST, CVE, FANG, TRGP, XOM |