In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 13, 2026), Sourcerock Group LLC reported 36 stock positions worth $1.7 billion . Its top holding was Antero Resources (AR) at 18.1% of the portfolio, followed by California Resources (CRC, 10.9% ) and Century Aluminum (CENX, 8.1% ). Compared with Q3 2025, it opened 13 new positions, sold out of 12, added to 13 and reduced 10. The biggest buy was Halliburton (HAL, shares +193% ) and the biggest sale an exit from Weatherford International PL (WFRD).
Location DENVER, CO
CIK 0001822531
Portfolio Value $1.7B (Q4 2025) Holdings 36 stocks · $1.7B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q3 2025 AR Antero Resources Corp. 9,164,128 $315.8M Add +17.7% CRC California Resources Corp. 4,275,206 $191.1M Add +34.4% CENX Century Aluminum Company 3,621,984 $141.9M Add +37.2% NE Noble Corp. PLC 4,908,297 $138.6M Add +15.4% TALO Talos Energy Inc. 10,573,333 $116.5M Reduce -1.2% CHRD Chord Energy Corp. 1,116,320 $103.5M Add +18.4% PTEN Patterson-Uti Energy Inc. 15,596,390 $95.3M Add +18.8% HAL Halliburton Co. 3,291,218 $93.0M Add +193.3% PUMP Propetro Holding Corp. 6,846,650 $65.1M Add +26.3% BTU Peabody Energy Corp. 1,937,005 $57.5M Reduce -19.6% OKE Oneok Inc. 740,760 $54.4M Add +15.3% PCG P G & E Corp. 2,445,867 $39.3M Reduce -0.3% EXE Expand Energy Corp. 325,425 $35.9M New KRSP.U Rice Acquisition Corp. 3 2,569,384 $27.0M New RRC Range Resources Corp. 689,987 $24.3M New XEL Xcel Energy Inc. 307,019 $22.7M Add +29.2% LNT Alliant Energy Corp. 299,473 $19.5M Add +99.7% TRP TC Energy Corp. 345,557 $19.0M Reduce -0.2% UGI Ugi Corp. 504,585 $18.9M Reduce -29.5% OVV Ovintiv Inc. 474,542 $18.6M New LBRT Liberty Energy Inc. 1,002,402 $18.5M New SWX Southwest Gas Holdings Inc. 199,334 $16.0M Reduce -0.2% CHDN Churchill Downs Inc. 126,789 $14.4M New ANDE The Andersons Inc. 255,906 $13.6M Add +6.6% CMS CMS Energy Corp. 156,508 $10.9M Reduce -0.2% EE Excelerate Energy Inc. Class A 388,200 $10.9M Add +3.5% TLN Talen Energy Corp. 28,000 $10.5M New PR Permian Resources Corp. Class A 734,314 $10.3M New LNG Cheniere Energy Inc. 50,000 $9.7M Reduce -29.6% NJR New Jersey Resources Corp. 190,084 $8.8M New GLNG Golar LNG Ltd. 167,499 $6.2M Reduce -0.2% D Dominion Energy Inc. 100,000 $5.9M New KMI Kinder Morgan Inc. 199,989 $5.5M New NPWR Net Power Inc. 1,496,482 $3.4M New AA Alcoa Corp. 53,465 $2.8M Reduce -95.6% NEXT Nextdecade Corp. 399,979 $2.1M New
Options reported separately and not counted above: OKE calls ($44.1M).
Portfolio Sells Q3 2025 → Q4 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▲ WFRD Weatherford International PL Sold out 0.00% −3.39 VAL Valaris Ltd. Sold out 0.00% −2.92 AA Alcoa Corp. Reduce -95.6% 0.16% −2.56 FLR Fluor Corp. Sold out 0.00% −1.52 GNRC Generac Holdings Inc. Sold out 0.00% −1.23 TMC TMC the Metals Co. Inc. Sold out 0.00% −1.10 BTU Peabody Energy Corp. Reduce -19.6% 3.29% −1.05 SDRL Seadrill Limited Sold out 0.00% −0.80 LNG Cheniere Energy Inc. Reduce -29.6% 0.56% −0.58 UGI Ugi Corp. Reduce -29.5% 1.08% −0.54 SR Spire Inc. Sold out 0.00% −0.53 APA Apa Corp. Sold out 0.00% −0.50 MDU Mdu Resources Group Inc. Sold out 0.00% −0.36 TALO Talos Energy Inc. Reduce -1.2% 6.67% −0.31 IMSR Terrestrial Energy Inc. Sold out 0.00% −0.29 WTRG Essential Utilities Inc. Sold out 0.00% −0.27 PCG P G & E Corp. Reduce -0.3% 2.25% −0.26 RIG Transocean Ltd. Sold out 0.00% −0.21 TRP TC Energy Corp. Reduce -0.2% 1.09% −0.19 CMS CMS Energy Corp. Reduce -0.2% 0.63% −0.15 SWX Southwest Gas Holdings Inc. Reduce -0.2% 0.91% −0.15 GLNG Golar LNG Ltd. Reduce -0.2% 0.36% −0.10
Portfolio Buys Q3 2025 → Q4 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q3 2025 % Of Portfolio Change To Portfolio ▼ HAL Halliburton Co. Add +193.3% 5.32% +3.45 CENX Century Aluminum Company Add +37.2% 8.12% +2.85 EXE Expand Energy Corp. New 2.06% +2.06 PUMP Propetro Holding Corp. Add +26.3% 3.73% +1.79 KRSP.U Rice Acquisition Corp. 3 New 1.54% +1.54 RRC Range Resources Corp. New 1.39% +1.39 OVV Ovintiv Inc. New 1.06% +1.06 LBRT Liberty Energy Inc. New 1.06% +1.06 PTEN Patterson-Uti Energy Inc. Add +18.8% 5.45% +0.83 CHDN Churchill Downs Inc. New 0.83% +0.83 TLN Talen Energy Corp. New 0.60% +0.60 PR Permian Resources Corp. Class A New 0.59% +0.59 NJR New Jersey Resources Corp. New 0.50% +0.50 LNT Alliant Energy Corp. Add +99.7% 1.11% +0.43 D Dominion Energy Inc. New 0.34% +0.34 KMI Kinder Morgan Inc. New 0.31% +0.31 AR Antero Resources Corp. Add +17.7% 18.07% +0.31 NPWR Net Power Inc. New 0.20% +0.20 ANDE The Andersons Inc. Add +6.6% 0.78% +0.13 NEXT Nextdecade Corp. New 0.12% +0.12 XEL Xcel Energy Inc. Add +29.2% 1.30% −0.01 EE Excelerate Energy Inc. Class A Add +3.5% 0.62% −0.02 OKE Oneok Inc. Add +15.3% 3.12% −0.07 NE Noble Corp. PLC Add +15.4% 7.93% −0.24 CHRD Chord Energy Corp. Add +18.4% 5.92% −0.45 CRC California Resources Corp. Add +34.4% 10.94% −0.56
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ OKE Oneok Inc. call New 600,000 $44.1M
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 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