SIR Capital Management, L.P.
In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), SIR Capital Management, L.P. reported 80 stock positions worth $903.8 million. Its top holding was Viper Energy Class A (VNOM) at 6.6% of the portfolio, followed by Kinder Morgan (KMI, 4.6%) and Permian Resources Class A (PR, 4.1%). Compared with Q3 2025, it opened 21 new positions, sold out of 19, added to 20 and reduced 37. The biggest buy was Freeport-McMoran (FCX, shares +85%) and the biggest sale Devon Energy (DVN, shares −65%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001434997
- Portfolio Value
- $903.8M (Q4 2025)
- SEC Filing
- 0001434997-26-000001 ↗ filed Feb 13, 2026
Holdings Value
Holdings 80 stocks · $903.8M
| VNOM Viper Energy Inc. Class A | 6.56% | 1,534,335 | $59.3M | Reduce -28.5% |
| KMI Kinder Morgan Inc. | 4.65% | 1,528,726 | $42.0M | Reduce -16.0% |
| PR Permian Resources Corp. Class A | 4.10% | 2,639,388 | $37.0M | Reduce -46.2% |
| OKE Oneok Inc. | 3.84% | 472,588 | $34.7M | Reduce -27.9% |
| FCX Freeport-McMoran Inc. | 3.51% | 624,956 | $31.7M | Add +84.6% |
| WMB Williams Cos Inc. | 3.49% | 525,232 | $31.6M | Add +40.0% |
| AM Antero Midstream Corp. | 3.49% | 1,772,534 | $31.5M | Add +28.1% |
| CTRA Coterra Energy Inc. | 3.33% | 1,144,682 | $30.1M | Add +5.1% |
| MTZ Mastec Inc. | 3.17% | 131,899 | $28.7M | Reduce -2.1% |
| TRP TC Energy Corp. | 3.06% | 502,246 | $27.6M | Reduce -39.1% |
| DINO HF Sinclair Corp. | 2.70% | 530,222 | $24.4M | Reduce -9.0% |
| KNTK Kinetik Holdings Inc. | 2.68% | 672,090 | $24.2M | Add +195.1% |
| XEL Xcel Energy Inc. | 2.49% | 305,285 | $22.5M | Add +75.0% |
| MGY Magnolia Oil & Gas Corp. Class A | 2.45% | 1,010,794 | $22.1M | Reduce -41.9% |
| SUNC Sunococorp LLC | 2.09% | 384,079 | $18.9M | New |
| DVN Devon Energy Corp. | 2.05% | 505,745 | $18.5M | Reduce -65.3% |
| AR Antero Resources Corp. | 1.96% | 514,666 | $17.7M | Reduce -46.3% |
| ALB Albemarle Corp. | 1.91% | 122,115 | $17.3M | New |
| OVV Ovintiv Inc. | 1.82% | 418,700 | $16.4M | New |
| SU Suncor Energy Inc. | 1.78% | 362,318 | $16.1M | New |
| HBM Hudbay Minerals Inc. | 1.64% | 744,517 | $14.8M | Add +65.9% |
| PSX Phillips 66 | 1.53% | 106,930 | $13.8M | New |
| EXE Expand Energy Corp. | 1.46% | 119,600 | $13.2M | New |
| PUMP Propetro Holding Corp. | 1.42% | 1,346,074 | $12.8M | Add +1374.3% |
| BG Bunge Global SA | 1.41% | 142,900 | $12.7M | New |
| EVGO Evgo Inc. | 1.40% | 4,345,531 | $12.6M | Add +5.7% |
| OGS One Gas Inc. | 1.39% | 162,523 | $12.6M | New |
| UGI Ugi Corp. | 1.37% | 329,717 | $12.3M | Add +18.3% |
| GPOR Gulfport Energy Corp. | 1.26% | 54,751 | $11.4M | Reduce -41.5% |
| NRG NRG Energy Inc. | 1.26% | 71,496 | $11.4M | Add +125.6% |
| SLB SLB Ltd. filed as SLB LIMITED | 1.15% | 269,800 | $10.4M | New |
| NE Noble Corp. PLC | 1.05% | 336,300 | $9.5M | Add +53.8% |
| EXC Exelon Corp. | 1.02% | 210,600 | $9.2M | Reduce -34.3% |
| CVE Cenovus Energy Inc. | 0.98% | 525,700 | $8.9M | Reduce -61.8% |
| VRT Vertiv Holdings Co. Class A | 0.98% | 54,719 | $8.9M | Reduce -38.5% |
| MOD Modine Manufacturing Co. | 0.97% | 65,388 | $8.7M | Add +144.0% |
| ETN Eaton Corp. PLC | 0.96% | 27,361 | $8.7M | Reduce -24.7% |
| URI United Rentals Inc. | 0.95% | 10,580 | $8.6M | Add +220.6% |
| NVT Nvent Electric PLC | 0.91% | 80,580 | $8.2M | Reduce -37.4% |
| SGML Sigma Lithium Corp. | 0.87% | 597,237 | $7.9M | Reduce -60.3% |
| GLW Corning Inc. | 0.87% | 89,806 | $7.9M | Reduce -49.2% |
| SEI Solaris Energy Infrastructur | 0.84% | 164,959 | $7.6M | Reduce -78.4% |
| GEV GE Vernova Inc. | 0.83% | 11,500 | $7.5M | Add +130.0% |
| VNT Vontier Corp. | 0.72% | 176,100 | $6.5M | New |
| EME Emcor Group Inc. | 0.67% | 9,970 | $6.1M | New |
| CMI Cummins Inc. | 0.67% | 11,900 | $6.1M | New |
| JCI Johnson Controls Internation | 0.66% | 49,467 | $5.9M | Reduce -28.4% |
| FIX Comfort Systems USA Inc. | 0.64% | 6,237 | $5.8M | Add +41.8% |
| SDRL Seadrill Limited | 0.59% | 154,199 | $5.3M | Reduce -59.2% |
| STRL Sterling Infrastructure Inc. | 0.58% | 17,200 | $5.3M | New |
| WFRD Weatherford International PL | 0.50% | 58,200 | $4.6M | New |
| CLNE Clean Energy Fuels Corp. | 0.49% | 2,103,095 | $4.4M | Add +17.2% |
| APH Amphenol Corp. Class A | 0.46% | 30,700 | $4.1M | Add +63.3% |
| PDS Precision Drilling Corp. | 0.45% | 56,178 | $4.0M | Add +0.4% |
| FSLR First Solar Inc. | 0.41% | 14,194 | $3.7M | New |
| DOV Dover Corp. | 0.40% | 18,400 | $3.6M | New |
| LBRT Liberty Energy Inc. | 0.36% | 178,200 | $3.3M | New |
| DY Dycom Industries Inc. | 0.36% | 9,577 | $3.2M | Reduce -63.8% |
| FTI Technipfmc PLC | 0.33% | 67,300 | $3.0M | Reduce -26.5% |
| OII Oceaneering Intl Inc. | 0.32% | 120,000 | $2.9M | Reduce -56.0% |
| BTE Baytex Energy Corp. | 0.29% | 814,000 | $2.6M | New |
| ITRI Itron Inc. | 0.29% | 27,750 | $2.6M | Add +10.1% |
| MUR Murphy Oil Corp. | 0.28% | 82,015 | $2.6M | Reduce -92.5% |
| HAL Halliburton Co. | 0.28% | 90,000 | $2.5M | Reduce -81.8% |
| EE Excelerate Energy Inc. Class A | 0.27% | 86,035 | $2.4M | Reduce -78.6% |
| FRMI Fermi Inc. | 0.25% | 281,827 | $2.3M | New |
| ITT Itt Inc. | 0.24% | 12,752 | $2.2M | Reduce -57.1% |
| CCJ Cameco Corp. | 0.23% | 22,600 | $2.1M | Reduce -74.7% |
| ODFL Old Dominion Freight Line | 0.22% | 12,400 | $1.9M | New |
| USAR USA Rare Earth Inc. | 0.20% | 152,500 | $1.8M | New |
| ARRY Array Technologies Inc. | 0.19% | 181,620 | $1.7M | Reduce -27.8% |
| TTI Tetra Technologies Inc. | 0.16% | 154,657 | $1.4M | Reduce -20.9% |
| WHD Cactus Inc. Class A | 0.15% | 29,419 | $1.3M | Reduce -90.6% |
| NESR National Energy Services Reu | 0.13% | 77,845 | $1.2M | Reduce -18.6% |
| LEU Centrus Energy Corp. Class A | 0.13% | 4,768 | $1.2M | Reduce -77.5% |
| BKV BKV Corporation | 0.11% | 37,200 | $1.0M | Reduce -22.2% |
| BE Bloom Energy Corp. Class A | 0.11% | 11,500 | $999K | Reduce -17.9% |
| OPAL Opal Fuels Inc. Class A | 0.10% | 373,849 | $880K | No change |
| XPRO Expro Group Holdings NV | 0.09% | 59,169 | $790K | Reduce -87.2% |
| NPWR Net Power Inc. | 0.03% | 103,178 | $235K | No change |
Portfolio Sells Q3 2025 → Q4 2025
| DVN Devon Energy Corp. | Reduce -65.3% | 2.05% | −2.54 |
| MUR Murphy Oil Corp. | Reduce -92.5% | 0.28% | −2.49 |
| SRE Sempra | Sold out | 0.00% | −2.32 |
| SEI Solaris Energy Infrastructur | Reduce -78.4% | 0.84% | −1.90 |
| CRC California Resources Corp. | Sold out | 0.00% | −1.80 |
| DUK Duke Energy Corp. | Sold out | 0.00% | −1.72 |
| NEE Nextera Energy Inc. | Sold out | 0.00% | −1.56 |
| PR Permian Resources Corp. Class A | Reduce -46.2% | 4.10% | −1.54 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −1.35 |
| MGY Magnolia Oil & Gas Corp. Class A | Reduce -41.9% | 2.45% | −1.28 |
| CNQ Canadian Natural Resources | Sold out | 0.00% | −1.26 |
| CVE Cenovus Energy Inc. | Reduce -61.8% | 0.98% | −1.11 |
| TRP TC Energy Corp. | Reduce -39.1% | 3.06% | −0.97 |
| WHD Cactus Inc. Class A | Reduce -90.6% | 0.15% | −0.96 |
| TS Tenaris SA-ADR | Sold out | 0.00% | −0.93 |
| AR Antero Resources Corp. | Reduce -46.3% | 1.96% | −0.92 |
| TRGP Targa Resources Corp. | Sold out | 0.00% | −0.91 |
| HAL Halliburton Co. | Reduce -81.8% | 0.28% | −0.81 |
| VNOM Viper Energy Inc. Class A | Reduce -28.5% | 6.56% | −0.80 |
| NXT Nextpower Inc. | Sold out | 0.00% | −0.70 |
| EE Excelerate Energy Inc. Class A | Reduce -78.6% | 0.27% | −0.64 |
| TT Trane Technologies PLC | Sold out | 0.00% | −0.61 |
| PTEN Patterson-Uti Energy Inc. | Sold out | 0.00% | −0.47 |
| LEU Centrus Energy Corp. Class A | Reduce -77.5% | 0.13% | −0.46 |
| OKE Oneok Inc. | Reduce -27.9% | 3.84% | −0.44 |
| CCJ Cameco Corp. | Reduce -74.7% | 0.23% | −0.44 |
| SDRL Seadrill Limited | Reduce -59.2% | 0.59% | −0.43 |
| GLW Corning Inc. | Reduce -49.2% | 0.87% | −0.43 |
| XPRO Expro Group Holdings NV | Reduce -87.2% | 0.09% | −0.41 |
| DY Dycom Industries Inc. | Reduce -63.8% | 0.36% | −0.33 |
| IMSR Terrestrial Energy Inc. | Sold out | 0.00% | −0.32 |
| AESI Atlas Energy Solutions Inc. | Sold out | 0.00% | −0.32 |
| OII Oceaneering Intl Inc. | Reduce -56.0% | 0.32% | −0.29 |
| EXC Exelon Corp. | Reduce -34.3% | 1.02% | −0.28 |
| GPOR Gulfport Energy Corp. | Reduce -41.5% | 1.26% | −0.26 |
| ETN Eaton Corp. PLC | Reduce -24.7% | 0.96% | −0.26 |
| CAT Caterpillar Inc. | Sold out | 0.00% | −0.24 |
| ITT Itt Inc. | Reduce -57.1% | 0.24% | −0.23 |
| NVT Nvent Electric PLC | Reduce -37.4% | 0.91% | −0.23 |
| VRT Vertiv Holdings Co. Class A | Reduce -38.5% | 0.98% | −0.22 |
| UUUU Energy Fuels Inc. | Sold out | 0.00% | −0.22 |
| WBI Waterbridge Infrastruc Class A | Sold out | 0.00% | −0.17 |
| HESM Hess Midstream LP Class A | Sold out | 0.00% | −0.14 |
| FLR Fluor Corp. | Sold out | 0.00% | −0.13 |
| VST Vistra Corp. | Sold out | 0.00% | −0.05 |
| DINO HF Sinclair Corp. | Reduce -9.0% | 2.70% | −0.03 |
| JCI Johnson Controls Internation | Reduce -28.4% | 0.66% | −0.03 |
| ARRY Array Technologies Inc. | Reduce -27.8% | 0.19% | +0.00 |
| BE Bloom Energy Corp. Class A | Reduce -17.9% | 0.11% | +0.00 |
| SGML Sigma Lithium Corp. | Reduce -60.3% | 0.87% | +0.01 |
Portfolio Buys Q3 2025 → Q4 2025
| FCX Freeport-McMoran Inc. | Add +84.6% | 3.51% | +2.32 |
| SUNC Sunococorp LLC | New | 2.09% | +2.09 |
| ALB Albemarle Corp. | New | 1.91% | +1.91 |
| OVV Ovintiv Inc. | New | 1.82% | +1.82 |
| KNTK Kinetik Holdings Inc. | Add +195.1% | 2.68% | +1.81 |
| SU Suncor Energy Inc. | New | 1.78% | +1.78 |
| PSX Phillips 66 | New | 1.53% | +1.53 |
| EXE Expand Energy Corp. | New | 1.46% | +1.46 |
| BG Bunge Global SA | New | 1.41% | +1.41 |
| OGS One Gas Inc. | New | 1.39% | +1.39 |
| PUMP Propetro Holding Corp. | Add +1374.3% | 1.42% | +1.37 |
| WMB Williams Cos Inc. | Add +40.0% | 3.49% | +1.36 |
| XEL Xcel Energy Inc. | Add +75.0% | 2.49% | +1.23 |
| SLB SLB Ltd. | New | 1.15% | +1.15 |
| AM Antero Midstream Corp. | Add +28.1% | 3.49% | +1.08 |
| HBM Hudbay Minerals Inc. | Add +65.9% | 1.64% | +1.02 |
| CTRA Coterra Energy Inc. | Add +5.1% | 3.33% | +1.02 |
| NRG NRG Energy Inc. | Add +125.6% | 1.26% | +0.80 |
| VNT Vontier Corp. | New | 0.72% | +0.72 |
| EME Emcor Group Inc. | New | 0.67% | +0.67 |
| CMI Cummins Inc. | New | 0.67% | +0.67 |
| URI United Rentals Inc. | Add +220.6% | 0.95% | +0.66 |
| MOD Modine Manufacturing Co. | Add +144.0% | 0.97% | +0.62 |
| STRL Sterling Infrastructure Inc. | New | 0.58% | +0.58 |
| GEV GE Vernova Inc. | Add +130.0% | 0.83% | +0.56 |
| UGI Ugi Corp. | Add +18.3% | 1.37% | +0.53 |
| WFRD Weatherford International PL | New | 0.50% | +0.50 |
| NE Noble Corp. PLC | Add +53.8% | 1.05% | +0.50 |
| FSLR First Solar Inc. | New | 0.41% | +0.41 |
| DOV Dover Corp. | New | 0.40% | +0.40 |
| LBRT Liberty Energy Inc. | New | 0.36% | +0.36 |
| FIX Comfort Systems USA Inc. | Add +41.8% | 0.64% | +0.32 |
| BTE Baytex Energy Corp. | New | 0.29% | +0.29 |
| APH Amphenol Corp. Class A | Add +63.3% | 0.46% | +0.25 |
| FRMI Fermi Inc. | New | 0.25% | +0.25 |
| ODFL Old Dominion Freight Line | New | 0.22% | +0.22 |
| USAR USA Rare Earth Inc. | New | 0.20% | +0.20 |
| PDS Precision Drilling Corp. | Add +0.4% | 0.45% | +0.16 |
| CLNE Clean Energy Fuels Corp. | Add +17.2% | 0.49% | +0.07 |
| ITRI Itron Inc. | Add +10.1% | 0.29% | +0.00 |
| EVGO Evgo Inc. | Add +5.7% | 1.40% | −0.34 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 79 | $870.1M | XOM, DVN, PR, OVV, VLO |
| Q1 2026 | 88 | $1.1B | AR, DVN, PR, EXE, CVE |
| Q4 2025 | 80 | $903.8M | VNOM, KMI, PR, OKE, FCX |
| Q3 2025 | 78 | $1.1B | VNOM, PR, KMI, DVN, OKE |
| Q2 2025 | 87 | $1.1B | KMI, CTRA, VNOM, PR, TRP |
| Q1 2025 | 76 | $1.1B | KMI, PR, CTRA, TRP, HAL |
| Q4 2024 | 73 | $969.9M | COP, KMI, PR, TRP, AM |
| Q3 2024 | 67 | $1.0B | PR, COP, LNG, PSX, KMI |
| Q2 2024 | 79 | $1.0B | KMI, PSX, PR, CHRD, CVE |
| Q1 2024 | 68 | $993.2M | KMI, MRO, ERF, BKR, CVE |