Oceanic Investment Management LTD In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 13, 2026), Oceanic Investment Management LTD reported 42 stock positions worth $117.5 million . Its top holding was Teekay Tankers Class A (TNK) at 11.9% of the portfolio, followed by Expand Energy (EXE, 10.5% ) and Antero Resources (AR, 8.8% ). Compared with Q4 2025, it opened 15 new positions, sold out of 13, added to 11 and reduced 16. The biggest buy was Teekay Tankers Class A (TNK, shares +418% ) and the biggest sale National Energy Services Reu (NESR, shares −77% ).
Location DOUGLAS, Y8
CIK 0001438258
Portfolio Value $117.5M (Q1 2026) Holdings 42 stocks · $117.5M Holdings quarter Q2 2026 Q1 2026 Q4 2025
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2025 TNK Teekay Tankers Ltd. Class A 190,592 $14.0M Add +417.6% EXE Expand Energy Corp. 112,127 $12.3M Add +111.1% AR Antero Resources Corp. 242,700 $10.3M New SDRL Seadrill Limited 187,850 $8.5M Add +79.2% CMBT CMB Tech NV 564,868 $7.1M Reduce -43.4% GNK Genco Shipping & Trading Ltd. 289,830 $6.5M Reduce -48.3% HAL Halliburton Co. 160,545 $6.3M Add +95.7% ECO Okeanis Eco Tankers Corp. 112,371 $5.7M New SLB SLB Ltd. filed as SLB LIMITED 100,960 $5.2M Reduce -62.9% BKR Baker Hughes Co. 79,304 $4.8M New CMDB Costamare Bulkers Holding 255,677 $4.0M Add +24.9% NESR National Energy Services Reu 162,400 $3.5M Reduce -76.7% WFRD Weatherford International PL 35,100 $3.3M Reduce -0.9% STNG Scorpio Tankers Inc. 29,864 $2.2M Reduce -53.5% BG Bunge Global SA 15,214 $1.9M Add +155.0% ADM Archer-Daniels-Midland Co. 26,360 $1.9M Add +187.8% LNG Cheniere Energy Inc. 6,751 $1.9M New STLD Steel Dynamics Inc. 10,289 $1.9M Add +185.5% NUE Nucor Corp. 10,673 $1.8M Add +185.2% INSW International Seaways Inc. 19,354 $1.4M New VLO Valero Energy Corp. 4,787 $1.2M New MPC Marathon Petroleum Corp. 4,654 $1.1M New FRO Frontline PLC 28,807 $1.0M New GLNG Golar LNG Ltd. 18,239 $987K New LPG Dorian LPG Ltd. 27,585 $943K Add +4.6% CLF Cleveland-Cliffs Inc. 97,584 $825K Add +82.5% AA Alcoa Corp. 11,271 $748K Reduce -40.6% CENX Century Aluminum Company 12,553 $737K Reduce -51.7% PBF PBF Energy Inc. Class A 15,169 $722K New TRMD Torm PLC-A 23,061 $643K Reduce -50.1% NVGS Navigator Holdings Ltd. 32,296 $624K New CNR Core Natural Resources Inc. 5,713 $598K Reduce -42.9% BTU Peabody Energy Corp. 17,170 $566K New TEN Tsakos Energy Navigation Ltd. 13,048 $515K New BWLP BW LPG Ltd. 23,601 $410K Reduce -19.4% HAFN Hafnia Ltd. 48,324 $367K Reduce -89.9% ASC Ardmore Shipping Corp. 23,353 $356K New GASS Stealthgas Inc. 26,173 $240K New FLNG Flex LNG Ltd. 4,399 $131K Reduce -96.6% AMR Alpha Metallurgical Resource 401 $82K Reduce -90.6% METC Ramaco Resources Inc. Class A 4,548 $70K Reduce -73.8% SB Safe Bulkers Inc. 4,077 $26K Reduce -99.4%
Options reported separately and not counted above: SPY puts ($436K).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ NESR National Energy Services Reu Reduce -76.7% 2.97% −8.44 SLB SLB Ltd. Reduce -62.9% 4.41% −6.53 NE Noble Corp. PLC Sold out 0.00% −6.26 GNK Genco Shipping & Trading Ltd. Reduce -48.3% 5.56% −5.24 CMBT CMB Tech NV Reduce -43.4% 6.08% −4.00 EE Excelerate Energy Inc. Class A Sold out 0.00% −3.59 FLNG Flex LNG Ltd. Reduce -96.6% 0.11% −3.26 SB Safe Bulkers Inc. Reduce -99.4% 0.02% −3.22 HAFN Hafnia Ltd. Reduce -89.9% 0.31% −2.36 STNG Scorpio Tankers Inc. Reduce -53.5% 1.90% −1.52 AMR Alpha Metallurgical Resource Reduce -90.6% 0.07% −0.82 FCX Freeport-McMoran Inc. Sold out 0.00% −0.77 HCC Warrior Met Coal Inc. Sold out 0.00% −0.72 COPX Global X Copper Miners ETF Sold out 0.00% −0.65 SCCO Southern Copper Corp. Sold out 0.00% −0.54 CENX Century Aluminum Company Reduce -51.7% 0.63% −0.44 AA Alcoa Corp. Reduce -40.6% 0.64% −0.42 CNR Core Natural Resources Inc. Reduce -42.9% 0.51% −0.42 TRMD Torm PLC-A Reduce -50.1% 0.55% −0.40 CCJ Cameco Corp. Sold out 0.00% −0.38 URNM Sprott Uranium Miners ETF Sold out 0.00% −0.33 VALE Vale SA-SP ADR Sold out 0.00% −0.29 METC Ramaco Resources Inc. Class A Reduce -73.8% 0.06% −0.27 HBM Hudbay Minerals Inc. Sold out 0.00% −0.22 CCL Carnival Corp. Sold out 0.00% −0.09 RCL Royal Caribbean Cruises Ltd. Sold out 0.00% −0.09 NCLH Norwegian Cruise Line Holdin Sold out 0.00% −0.09 WFRD Weatherford International PL Reduce -0.9% 2.82% −0.08 BWLP BW LPG Ltd. Reduce -19.4% 0.35% −0.05
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ TNK Teekay Tankers Ltd. Class A Add +417.6% 11.89% +9.83 AR Antero Resources Corp. New 8.76% +8.76 ECO Okeanis Eco Tankers Corp. New 4.84% +4.84 EXE Expand Energy Corp. Add +111.1% 10.47% +4.34 BKR Baker Hughes Co. New 4.12% +4.12 SDRL Seadrill Limited Add +79.2% 7.27% +3.48 HAL Halliburton Co. Add +95.7% 5.33% +2.90 LNG Cheniere Energy Inc. New 1.63% +1.63 INSW International Seaways Inc. New 1.20% +1.20 BG Bunge Global SA Add +155.0% 1.65% +1.09 ADM Archer-Daniels-Midland Co. Add +187.8% 1.63% +1.08 VLO Valero Energy Corp. New 1.01% +1.01 MPC Marathon Petroleum Corp. New 0.97% +0.97 STLD Steel Dynamics Inc. Add +185.5% 1.58% +0.94 NUE Nucor Corp. Add +185.2% 1.54% +0.90 FRO Frontline PLC New 0.85% +0.85 GLNG Golar LNG Ltd. New 0.84% +0.84 PBF PBF Energy Inc. Class A New 0.61% +0.61 NVGS Navigator Holdings Ltd. New 0.53% +0.53 BTU Peabody Energy Corp. New 0.48% +0.48 TEN Tsakos Energy Navigation Ltd. New 0.44% +0.44 ASC Ardmore Shipping Corp. New 0.30% +0.30 GASS Stealthgas Inc. New 0.20% +0.20 LPG Dorian LPG Ltd. Add +4.6% 0.80% +0.13 CMDB Costamare Bulkers Holding Add +24.9% 3.37% +0.06 CLF Cleveland-Cliffs Inc. Add +82.5% 0.70% −0.04
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 271 $436K
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 22 $77.0M HAL, GNK, EXE, AR, BKR Q1 2026 42 $117.5M TNK, EXE, AR, SDRL, CMBT Q4 2025 40 $95.5M NESR, SLB, GNK, CMBT, NE