Q4 2025 · 13F-HR
Merewether Investment Management, LPholdings as filed
Filed 2026-02-17 · accession 0001420506-26-000568
$4.35B
Reported value
77
Positions
2025-12-31
Period end
The Brief · Merewether Investment Management, LP · Q4 2025
AI · grounded in 13F
Merewether Investment Management, LP exited its position in NI for a reduction of $127.1M. The fund established new positions in WILLIAMS COS INC for $140.7M, BP for $104.5M, and PRIM for $97M. Other notable activity includes closing its position in BKR for $105.5M and increasing its stake in OVV by 106.8%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 29364G103 | ETR | ENTERGY CORP NEW | $166.1M | 3.82% | 1,796,900 | Common | SOLE |
| 98389B100 | XEL | XCEL ENERGY INC | $160.1M | 3.68% | 2,167,710 | Common | SOLE |
| 165167735 | EXE | EXPAND ENERGY CORPORATION | $146.7M | 3.37% | 1,329,075 | Common | SOLE |
| 867224107 | SU | SUNCOR ENERGY INC NEW | $145.5M | 3.35% | 3,277,504 | Common | SOLE |
| 69047Q102 | OVV | OVINTIV INC | $141.6M | 3.26% | 3,612,697 | Common | SOLE |
| 969457100 | WMB | WILLIAMS COS INC | $140.7M | 3.24% | 2,341,000 | Common | SOLE |
| 87612G101 | TRGP | TARGA RES CORP | $138.3M | 3.18% | 749,577 | Common | SOLE |
| 816851109 | SRE | SEMPRA | $136.6M | 3.14% | 1,547,132 | Common | SOLE |
| G6700G107 | NVT | NVENT ELECTRIC PLC | $136.2M | 3.13% | 1,335,574 | Common | SOLE |
| 23345M107 | DTM | DT MIDSTREAM INC | $124.8M | 2.87% | 1,042,600 | Common | SOLE |
| 576323109 | MTZ | MASTEC INC | $123.7M | 2.85% | 569,140 | Common | SOLE |
| 629377508 | NRG | NRG ENERGY INC | $121.9M | 2.80% | 765,626 | Common | SOLE |
| 15189T107 | CNP | CENTERPOINT ENERGY INC | $111.1M | 2.55% | 2,897,000 | Common | SOLE |
| 055622104 | BP | BP PLC | $104.5M | 2.40% | 3,008,100 | Common | SOLE |
| H11356104 | BG | BUNGE GLOBAL SA | $100.9M | 2.32% | 1,132,700 | Common | SOLE |
| 74164F103 | PRIM | PRIMORIS SVCS CORP | $97.0M | 2.23% | 781,700 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $97.0M | 2.23% | 1,909,400 | Common | SOLE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $96.2M | 2.21% | 640,250 | Common | SOLE |
| 71424F105 | PR | PERMIAN RESOURCES CORP | $87.9M | 2.02% | 6,263,137 | Common | SOLE |
| 336433107 | FSLR | FIRST SOLAR INC | $84.9M | 1.95% | 325,100 | Common | SOLE |
| 30231G102 | XOM | EXXON MOBIL CORP | $84.4M | 1.94% | 701,493 | Common | SOLE |
| 74743L100 | Q | QNITY ELECTRONICS INC | $71.7M | 1.65% | 878,048 | Common | SOLE |
| 16411R208 | LNG | CHENIERE ENERGY INC | $67.8M | 1.56% | 348,600 | Common | SOLE |
| G87110105 | FTI | TECHNIPFMC PLC | $67.3M | 1.55% | 1,511,128 | Common | SOLE |
| 92840M102 | VST | VISTRA CORP | $64.1M | 1.47% | 397,322 | Common | SOLE |
| 91913Y100 | VLO | VALERO ENERGY CORP | $58.5M | 1.34% | 359,131 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $58.0M | 1.33% | 1,331,000 | Common | SOLE |
| 450913108 | IAG | IAMGOLD CORP | $55.0M | 1.27% | 3,335,790 | Common | SOLE |
| 127097103 | CTRA | COTERRA ENERGY INC | $54.6M | 1.26% | 2,073,500 | Common | SOLE |
| 231021106 | CMI | CUMMINS INC | $54.1M | 1.25% | 106,060 | Common | SOLE |
| 37045V100 | GM | GENERAL MTRS CO | $51.5M | 1.18% | 633,300 | Common | SOLE |
| 26614N102 | DD | DUPONT DE NEMOURS INC | $50.1M | 1.15% | 1,246,796 | Common | SOLE |
| 52476L109 | LGN | LEGENCE CORP | $48.8M | 1.12% | 1,134,422 | Common | SOLE |
| 013872106 | AA | ALCOA CORP | $46.9M | 1.08% | 882,200 | Common | SOLE |
| 443510607 | HUBB | HUBBELL INC | $45.7M | 1.05% | 102,920 | Common | SOLE |
| 05603J108 | BKV | BKV CORP | $45.5M | 1.05% | 1,676,217 | Common | SOLE |
| 26884L109 | EQT | EQT CORP | $45.3M | 1.04% | 845,286 | Common | SOLE |
| 199908104 | FIX | COMFORT SYS USA INC | $43.3M | 0.99% | 46,349 | Common | SOLE |
| 00508Y102 | AYI | ACUITY INC | $41.8M | 0.96% | 116,000 | Common | SOLE |
| 185899101 | CLF | CLEVELAND-CLIFFS INC NEW | $41.1M | 0.95% | 3,096,600 | Common | SOLE |
| 049560105 | ATO | ATMOS ENERGY CORP | $39.9M | 0.92% | 238,236 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $39.6M | 0.91% | 539,421 | Common | SOLE |
| 15135U109 | CVE | CENOVUS ENERGY INC | $35.1M | 0.81% | 2,076,591 | Common | SOLE |
| 155923105 | CTRI | CENTURI HOLDINGS INC | $33.9M | 0.78% | 1,344,000 | Common | SOLE |
| 670346105 | NUE | NUCOR CORP | $33.3M | 0.76% | 203,900 | Common | SOLE |
| 806857108 | SLB | SLB LIMITED | $32.9M | 0.76% | 857,300 | Common | SOLE |
| 152006102 | CGAU | CENTERRA GOLD INC | $32.4M | 0.75% | 2,253,100 | Common | SOLE |
| 237266101 | DAR | DARLING INGREDIENTS INC | $31.6M | 0.73% | 878,114 | Common | SOLE |
| G8060N102 | ST | SENSATA TECHNOLOGIES HLDG PL | $30.1M | 0.69% | 904,600 | Common | SOLE |
| 218937100 | CNR | CORE NATURAL RESOURCES INC | $30.0M | 0.69% | 339,400 | Common | SOLE |
| 366505105 | GTX | GARRETT MOTION INC | $29.4M | 0.68% | 1,686,100 | Common | SOLE |
| 960413102 | WLK | WESTLAKE CORPORATION | $28.7M | 0.66% | 388,100 | Common | SOLE |
| 04040Y109 | ARIS | ARIS MNG CORP | $27.5M | 0.63% | 1,694,800 | Common | SOLE |
| 69888T207 | PARR | PAR PAC HOLDINGS INC | $25.8M | 0.59% | 734,400 | Common | SOLE |
| 368736104 | GNRC | GENERAC HLDGS INC | $25.8M | 0.59% | 188,946 | Common | SOLE |
| 03674X106 | AR | ANTERO RESOURCES CORP | $25.1M | 0.58% | 727,700 | Common | SOLE |
| 88080T104 | WULF | TERAWULF INC | $24.9M | 0.57% | 2,164,500 | Common | SOLE |
| 127203107 | WHD | CACTUS INC | $23.1M | 0.53% | 504,900 | Common | SOLE |
| 533900106 | LECO | LINCOLN ELEC HLDGS INC | $22.7M | 0.52% | 94,800 | Common | SOLE |
| 876511106 | TGB | TASEKO MINES LTD | $20.8M | 0.48% | 3,672,900 | Common | SOLE |
| G4253H101 | JHX | JAMES HARDIE INDS PLC | $18.2M | 0.42% | 876,600 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $18.1M | 0.42% | 393,600 | Common | SOLE |
| 853606101 | SLI | STANDARD LITHIUM LTD | $18.0M | 0.42% | 4,037,000 | Common | SOLE |
| 53115L104 | LBRT | LIBERTY ENERGY INC | $17.6M | 0.40% | 951,092 | Common | SOLE |
| 940923105 | WBI | WATERBRIDGE INFRASTRUCTURE L | $17.4M | 0.40% | 870,400 | Common | SOLE |
| Y7542C130 | STNG | SCORPIO TANKERS INC | $16.5M | 0.38% | 323,861 | Common | SOLE |
| 248356107 | DNN | DENISON MINES CORP | $15.7M | 0.36% | 5,903,300 | Common | SOLE |
| 284902509 | EGO | ELDORADO GOLD CORP NEW | $14.1M | 0.33% | 393,700 | Common | SOLE |
| 497266106 | KEX | KIRBY CORP | $13.5M | 0.31% | 122,300 | Common | SOLE |
| 64361Q101 | VNOM | VIPER ENERGY INC | $12.3M | 0.28% | 318,082 | Common | SOLE |
| 858119100 | STLD | STEEL DYNAMICS INC | $9.0M | 0.21% | 53,400 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $9.0M | 0.21% | 23,908 | Common | SOLE |
| 13321L108 | CCJ | CAMECO CORP | $8.1M | 0.19% | 88,854 | Common | SOLE |
| 65290E101 | NXT | NEXTPOWER INC | $7.8M | 0.18% | 88,975 | Common | SOLE |
| 87507T101 | TBN | TAMBORAN RES CORP | $1.9M | 0.04% | 70,000 | Common | SOLE |
| 052800109 | ALV | AUTOLIV INC | $759,680 | 0.02% | 6,400 | Common | SOLE |
| 92839U206 | VC | VISTEON CORP | $494,520 | 0.01% | 5,200 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.