Sourcerock Group LLC
In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Sourcerock Group LLC reported 38 stock positions worth $1.8 billion. Its top holding was Antero Resources (AR) at 16.8% of the portfolio, followed by Eqt (EQT, 16.3%) and Civitas Resources (CIVI, 8.9%). Compared with Q4 2024, it opened 14 new positions, sold out of 11, added to 18 and reduced 6. The biggest buy was Chord Energy (CHRD, shares +221%) and the biggest sale an exit from Expand Energy (EXE).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0001822531
- Portfolio Value
- $1.8B (Q1 2025)
- SEC Filing
- 0001822531-25-000005 ↗ filed May 15, 2025
Holdings Value
Holdings 38 stocks · $1.8B
| AR Antero Resources Corp. | 16.80% | 7,373,017 | $298.2M | Add +16.0% |
| EQT Eqt Corp. | 16.34% | 5,426,286 | $289.9M | Add +17.2% |
| CIVI Civitas Resources Inc. | 8.89% | 4,522,721 | $157.8M | Add +55.2% |
| CHRD Chord Energy Corp. | 6.42% | 1,011,057 | $114.0M | Add +221.1% |
| TALO Talos Energy Inc. | 5.52% | 10,082,492 | $98.0M | Add +5.6% |
| TS Tenaris SA-ADR | 5.40% | 2,450,258 | $95.8M | Add +17.0% |
| NE Noble Corp. PLC | 5.38% | 4,026,590 | $95.4M | Add +43.3% |
| AA Alcoa Corp. | 5.33% | 3,101,487 | $94.6M | Add +56.8% |
| HAL Halliburton Co. | 3.76% | 2,630,127 | $66.7M | Add +496.7% |
| PTEN Patterson-Uti Energy Inc. | 3.06% | 6,598,123 | $54.2M | Add +282.7% |
| CRC California Resources Corp. | 3.03% | 1,221,369 | $53.7M | Add +12.6% |
| PUMP Propetro Holding Corp. | 2.09% | 5,052,543 | $37.1M | Add +234.8% |
| PCG P G & E Corp. | 1.98% | 2,049,066 | $35.2M | New |
| PR Permian Resources Corp. Class A | 1.63% | 2,091,477 | $29.0M | New |
| UGI Ugi Corp. | 1.35% | 726,396 | $24.0M | Reduce -29.1% |
| DTM DT Midstream Inc. | 1.14% | 209,017 | $20.2M | Add +109.0% |
| OKE Oneok Inc. | 1.12% | 200,194 | $19.9M | Add +51.7% |
| VG Venture Global Inc. Class A | 1.02% | 1,755,273 | $18.1M | New |
| HOS Hornbeck Offshore Services I filed as HELIX ENERGY SOLUTIONS GRP I | 0.98% | 2,100,000 | $17.5M | New |
| SGML Sigma Lithium Corp. | 0.96% | 1,637,428 | $17.0M | Add +18.0% |
| LNT Alliant Energy Corp. | 0.87% | 240,154 | $15.5M | Add +130.5% |
| SR Spire Inc. | 0.86% | 195,539 | $15.3M | Add +5.5% |
| LNG Cheniere Energy Inc. | 0.68% | 52,262 | $12.1M | Reduce -46.1% |
| KGS Kodiak Gas Services Inc. | 0.60% | 286,167 | $10.7M | Add +56.8% |
| NXT Nextpower Inc. filed as NEXTRACKER INC | 0.59% | 250,000 | $10.5M | Reduce -51.0% |
| VST Vistra Corp. | 0.53% | 80,000 | $9.4M | New |
| FRO Frontline PLC | 0.51% | 613,404 | $9.1M | New |
| NRG NRG Energy Inc. | 0.48% | 90,048 | $8.6M | New |
| NFG National Fuel Gas Co. | 0.47% | 105,070 | $8.3M | New |
| BTE Baytex Energy Corp. | 0.44% | 3,520,550 | $7.9M | New |
| TLN Talen Energy Corp. | 0.28% | 25,000 | $5.0M | New |
| XEL Xcel Energy Inc. | 0.28% | 70,000 | $5.0M | Reduce -57.2% |
| DHT DHT Holdings Inc. | 0.27% | 460,000 | $4.8M | New |
| GLNG Golar LNG Ltd. | 0.21% | 100,094 | $3.8M | New |
| CENX Century Aluminum Company | 0.21% | 200,000 | $3.7M | Reduce -32.1% |
| DVN Devon Energy Corp. | 0.17% | 78,452 | $2.9M | Reduce -90.0% |
| STNG Scorpio Tankers Inc. | 0.16% | 75,621 | $2.8M | New |
| XOP SS SPDR S&P Og Exp & Prod | 0.15% | 20,500 | $2.7M | New |
Portfolio Sells Q4 2024 → Q1 2025
| EXE Expand Energy Corp. | Sold out | 0.00% | −3.31 |
| SDRL Seadrill Limited | Sold out | 0.00% | −2.80 |
| DVN Devon Energy Corp. | Reduce -90.0% | 0.17% | −1.66 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −1.50 |
| BKV BKV Corporation | Sold out | 0.00% | −1.20 |
| ENB Enbridge Inc. | Sold out | 0.00% | −1.11 |
| BKR Baker Hughes Co. | Sold out | 0.00% | −0.87 |
| LNG Cheniere Energy Inc. | Reduce -46.1% | 0.68% | −0.80 |
| CX Cemex Sab-Spons ADR Part Cer | Sold out | 0.00% | −0.77 |
| UNG US Natural Gas Fund LP | Sold out | 0.00% | −0.74 |
| NXT Nextpower Inc. | Reduce -51.0% | 0.59% | −0.73 |
| XPRO Expro Group Holdings NV | Sold out | 0.00% | −0.71 |
| UGI Ugi Corp. | Reduce -29.1% | 1.35% | −0.70 |
| XEL Xcel Energy Inc. | Reduce -57.2% | 0.28% | −0.50 |
| MRC MRC Global Inc. | Sold out | 0.00% | −0.46 |
| DAR Darling Ingredients Inc. | Sold out | 0.00% | −0.36 |
| CENX Century Aluminum Company | Reduce -32.1% | 0.21% | −0.17 |
Portfolio Buys Q4 2024 → Q1 2025
| CHRD Chord Energy Corp. | Add +221.1% | 6.42% | +3.81 |
| HAL Halliburton Co. | Add +496.7% | 3.76% | +2.91 |
| PTEN Patterson-Uti Energy Inc. | Add +282.7% | 3.06% | +2.05 |
| PCG P G & E Corp. | New | 1.98% | +1.98 |
| PR Permian Resources Corp. Class A | New | 1.63% | +1.63 |
| EQT Eqt Corp. | Add +17.2% | 16.34% | +1.18 |
| PUMP Propetro Holding Corp. | Add +234.8% | 2.09% | +1.09 |
| VG Venture Global Inc. Class A | New | 1.02% | +1.02 |
| AR Antero Resources Corp. | Add +16.0% | 16.80% | +0.98 |
| HOS Hornbeck Offshore Services I | New | 0.98% | +0.98 |
| VST Vistra Corp. | New | 0.53% | +0.53 |
| FRO Frontline PLC | New | 0.51% | +0.51 |
| NRG NRG Energy Inc. | New | 0.48% | +0.48 |
| NFG National Fuel Gas Co. | New | 0.47% | +0.47 |
| BTE Baytex Energy Corp. | New | 0.44% | +0.44 |
| LNT Alliant Energy Corp. | Add +130.5% | 0.87% | +0.43 |
| DTM DT Midstream Inc. | Add +109.0% | 1.14% | +0.43 |
| TLN Talen Energy Corp. | New | 0.28% | +0.28 |
| DHT DHT Holdings Inc. | New | 0.27% | +0.27 |
| GLNG Golar LNG Ltd. | New | 0.21% | +0.21 |
| OKE Oneok Inc. | Add +51.7% | 1.12% | +0.18 |
| STNG Scorpio Tankers Inc. | New | 0.16% | +0.16 |
| XOP SS SPDR S&P Og Exp & Prod | New | 0.15% | +0.15 |
| KGS Kodiak Gas Services Inc. | Add +56.8% | 0.60% | +0.07 |
| AA Alcoa Corp. | Add +56.8% | 5.33% | +0.02 |
| SR Spire Inc. | Add +5.5% | 0.86% | −0.03 |
| SGML Sigma Lithium Corp. | Add +18.0% | 0.96% | −0.15 |
| TS Tenaris SA-ADR | Add +17.0% | 5.40% | −0.22 |
| CIVI Civitas Resources Inc. | Add +55.2% | 8.89% | −0.60 |
| NE Noble Corp. PLC | Add +43.3% | 5.38% | −0.89 |
| CRC California Resources Corp. | Add +12.6% | 3.03% | −0.97 |
| TALO Talos Energy Inc. | Add +5.6% | 5.52% | −1.06 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 36 | $1.9B | AR, CRC, PTEN, CHRD, HAL |
| Q1 2026 | 39 | $2.4B | AR, CRC, CHRD, NE, PTEN |
| Q4 2025 | 36 | $1.7B | AR, CRC, CENX, NE, TALO |
| Q3 2025 | 35 | $1.5B | AR, CRC, NE, TALO, CHRD |
| Q2 2025 | 39 | $1.9B | AR, EQT, NE, TS, CHRD |
| Q1 2025 | 38 | $1.8B | AR, EQT, CIVI, CHRD, TALO |
| Q4 2024 | 35 | $1.4B | AR, EQT, CIVI, TALO, NE |
| Q3 2024 | 34 | $1.2B | AR, EQT, CIVI, TALO, NE |
| Q2 2024 | 34 | $1.4B | AR, CIVI, EQT, TALO, TS |
| Q1 2024 | 31 | $1.2B | CIVI, AR, CHRD, TALO, NE |