Sourcerock Group LLC
In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Sourcerock Group LLC reported 35 stock positions worth $1.5 billion. Its top holding was Antero Resources (AR) at 17.8% of the portfolio, followed by California Resources (CRC, 11.5%) and Noble (NE, 8.2%). Compared with Q2 2025, it opened 12 new positions, sold out of 16, added to 12 and reduced 11. The biggest buy was California Resources (CRC, shares +59%) and the biggest sale an exit from Eqt (EQT).
- Most Recent 13F
- Q2 2026
- Location
- DENVER, CO
- CIK
- 0001822531
- Portfolio Value
- $1.5B (Q3 2025)
- SEC Filing
- 0001822531-25-000014 ↗ filed Nov 14, 2025
Holdings Value
Holdings 35 stocks · $1.5B
| AR Antero Resources Corp. | 17.77% | 7,786,127 | $261.3M | Reduce -4.5% |
| CRC California Resources Corp. | 11.50% | 3,180,491 | $169.1M | Add +59.0% |
| NE Noble Corp. PLC | 8.18% | 4,252,706 | $120.3M | Reduce -18.0% |
| TALO Talos Energy Inc. | 6.98% | 10,702,039 | $102.6M | Reduce -4.4% |
| CHRD Chord Energy Corp. | 6.37% | 942,658 | $93.7M | Reduce -8.7% |
| CENX Century Aluminum Company | 5.27% | 2,640,465 | $77.5M | Add +85.4% |
| PTEN Patterson-Uti Energy Inc. | 4.62% | 13,128,909 | $68.0M | Reduce -4.9% |
| BTU Peabody Energy Corp. | 4.34% | 2,407,779 | $63.9M | Add +15.0% |
| WFRD Weatherford International PL | 3.39% | 729,338 | $49.9M | New |
| OKE Oneok Inc. | 3.19% | 642,343 | $46.9M | Add +18.0% |
| VAL Valaris Ltd. | 2.92% | 880,215 | $42.9M | New |
| AA Alcoa Corp. | 2.72% | 1,217,205 | $40.0M | Reduce -58.5% |
| PCG P G & E Corp. | 2.51% | 2,451,957 | $37.0M | Add +7.3% |
| PUMP Propetro Holding Corp. | 1.93% | 5,422,407 | $28.4M | Reduce -35.5% |
| HAL Halliburton Co. | 1.88% | 1,122,000 | $27.6M | Add +461.0% |
| UGI Ugi Corp. | 1.62% | 716,065 | $23.8M | Add +26.8% |
| FLR Fluor Corp. | 1.52% | 532,896 | $22.4M | Reduce -68.0% |
| XEL Xcel Energy Inc. | 1.30% | 237,609 | $19.2M | Add +67.7% |
| TRP TC Energy Corp. | 1.28% | 346,315 | $18.8M | Add +11.9% |
| GNRC Generac Holdings Inc. | 1.23% | 108,061 | $18.1M | New |
| LNG Cheniere Energy Inc. | 1.14% | 71,046 | $16.7M | Reduce -30.0% |
| TMC TMC the Metals Co. Inc. | 1.10% | 2,532,895 | $16.1M | New |
| SWX Southwest Gas Holdings Inc. | 1.06% | 199,773 | $15.7M | Add +66.2% |
| SDRL Seadrill Limited | 0.80% | 390,894 | $11.8M | New |
| CMS CMS Energy Corp. | 0.78% | 156,776 | $11.5M | Add +115.7% |
| LNT Alliant Energy Corp. | 0.69% | 150,000 | $10.1M | New |
| ANDE The Andersons Inc. | 0.65% | 240,000 | $9.6M | New |
| EE Excelerate Energy Inc. Class A | 0.64% | 375,234 | $9.5M | Add +838.1% |
| SR Spire Inc. | 0.53% | 95,562 | $7.8M | Reduce -46.5% |
| APA Apa Corp. | 0.50% | 300,000 | $7.3M | New |
| GLNG Golar LNG Ltd. | 0.46% | 167,866 | $6.8M | Reduce -5.8% |
| MDU Mdu Resources Group Inc. | 0.36% | 300,483 | $5.4M | New |
| IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP | 0.29% | 257,900 | $4.2M | New |
| WTRG Essential Utilities Inc. | 0.27% | 99,143 | $4.0M | New |
| RIG Transocean Ltd. | 0.21% | 1,000,000 | $3.1M | New |
Portfolio Sells Q2 2025 → Q3 2025
| EQT Eqt Corp. | Sold out | 0.00% | −8.29 |
| TS Tenaris SA-ADR | Sold out | 0.00% | −6.02 |
| CIVI Civitas Resources Inc. | Sold out | 0.00% | −5.20 |
| FLR Fluor Corp. | Reduce -68.0% | 1.52% | −2.92 |
| DVN Devon Energy Corp. | Sold out | 0.00% | −2.90 |
| CCJ Cameco Corp. | Sold out | 0.00% | −2.25 |
| AA Alcoa Corp. | Reduce -58.5% | 2.72% | −1.79 |
| PR Permian Resources Corp. Class A | Sold out | 0.00% | −1.48 |
| LBRT Liberty Energy Inc. | Sold out | 0.00% | −1.23 |
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −1.14 |
| DTM DT Midstream Inc. | Sold out | 0.00% | −0.92 |
| PUMP Propetro Holding Corp. | Reduce -35.5% | 1.93% | −0.69 |
| RRC Range Resources Corp. | Sold out | 0.00% | −0.66 |
| VG Venture Global Inc. Class A | Sold out | 0.00% | −0.64 |
| KMI Kinder Morgan Inc. | Sold out | 0.00% | −0.63 |
| FCX Freeport-McMoran Inc. | Sold out | 0.00% | −0.50 |
| KGS Kodiak Gas Services Inc. | Sold out | 0.00% | −0.32 |
| LNG Cheniere Energy Inc. | Reduce -30.0% | 1.14% | −0.15 |
| SR Spire Inc. | Reduce -46.5% | 0.53% | −0.15 |
| HOS Hornbeck Offshore Services I | Sold out | 0.00% | −0.12 |
| XOP SS SPDR S&P Og Exp & Prod | Sold out | 0.00% | −0.12 |
| GLNG Golar LNG Ltd. | Reduce -5.8% | 0.46% | +0.08 |
| PTEN Patterson-Uti Energy Inc. | Reduce -4.9% | 4.62% | +0.36 |
| AR Antero Resources Corp. | Reduce -4.5% | 17.77% | +0.64 |
| NE Noble Corp. PLC | Reduce -18.0% | 8.18% | +1.00 |
| CHRD Chord Energy Corp. | Reduce -8.7% | 6.37% | +1.16 |
| TALO Talos Energy Inc. | Reduce -4.4% | 6.98% | +2.03 |
Portfolio Buys Q2 2025 → Q3 2025
| CRC California Resources Corp. | Add +59.0% | 11.50% | +6.74 |
| CENX Century Aluminum Company | Add +85.4% | 5.27% | +3.93 |
| WFRD Weatherford International PL | New | 3.39% | +3.39 |
| VAL Valaris Ltd. | New | 2.92% | +2.92 |
| BTU Peabody Energy Corp. | Add +15.0% | 4.34% | +2.88 |
| HAL Halliburton Co. | Add +461.0% | 1.88% | +1.66 |
| GNRC Generac Holdings Inc. | New | 1.23% | +1.23 |
| TMC TMC the Metals Co. Inc. | New | 1.10% | +1.10 |
| OKE Oneok Inc. | Add +18.0% | 3.19% | +0.87 |
| PCG P G & E Corp. | Add +7.3% | 2.51% | +0.85 |
| SDRL Seadrill Limited | New | 0.80% | +0.80 |
| XEL Xcel Energy Inc. | Add +67.7% | 1.30% | +0.80 |
| LNT Alliant Energy Corp. | New | 0.69% | +0.69 |
| ANDE The Andersons Inc. | New | 0.65% | +0.65 |
| SWX Southwest Gas Holdings Inc. | Add +66.2% | 1.06% | +0.60 |
| EE Excelerate Energy Inc. Class A | Add +838.1% | 0.64% | +0.58 |
| UGI Ugi Corp. | Add +26.8% | 1.62% | +0.55 |
| CMS CMS Energy Corp. | Add +115.7% | 0.78% | +0.52 |
| APA Apa Corp. | New | 0.50% | +0.50 |
| TRP TC Energy Corp. | Add +11.9% | 1.28% | +0.49 |
| MDU Mdu Resources Group Inc. | New | 0.36% | +0.36 |
| IMSR Terrestrial Energy Inc. | New | 0.29% | +0.29 |
| WTRG Essential Utilities Inc. | New | 0.27% | +0.27 |
| RIG Transocean Ltd. | New | 0.21% | +0.21 |
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 |