# GeoSphere Capital Management, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1426876. Source: https://holderbook.com/funds/1426876-geosphere-capital-management-llc/

- Reported value: $306.3M
- Positions: 46
- Weight of the ten largest: 62.6%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $37.3M | 0 | 12.2% | 7 |
| INVESCO QQQ TR | [QQQ](https://holderbook.com/stocks/QQQ/) | $33.1M | 0 | 10.8% | 2 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $27.0M | 0 | 8.8% | 1 |
| NATIONAL ENERGY SERVICES REU | [NESR](https://holderbook.com/stocks/NESR/) | $23.9M | 799,578 | 7.8% | 7 |
| BKV CORP | [BKV](https://holderbook.com/stocks/BKV/) | $15.9M | 581,689 | 5.2% | 8 |
| TERAWULF INC | [WULF](https://holderbook.com/stocks/WULF/) | $12.9M | 522,574 | 4.2% | 3 |
| CORE NATURAL RESOURCES INC | [CNR](https://holderbook.com/stocks/CNR/) | $12.6M | 157,926 | 4.1% | 6 |
| FLUOR CORP | [FLR](https://holderbook.com/stocks/FLR/) | $10.9M | 208,000 | 3.6% | 2 |
| SOLARIS ENERGY INFRAS INC | [SEI](https://holderbook.com/stocks/SEI/) | $9.3M | 115,366 | 3.0% | 6 |
| VISTA ENERGY S.A.B. DE C.V. | [VIST](https://holderbook.com/stocks/VIST/) | $8.8M | 137,473 | 2.9% | 2 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $7.1M | 69,363 | 2.3% | 13 |
| HMH HLDG INC | - | $7.0M | 375,000 | 2.3% | 1 |
| ARIS MINING CORPORATION | [ARIS](https://holderbook.com/stocks/ARIS/) | $6.3M | 420,000 | 2.0% | 2 |
| KOSMOS ENERGY LTD | [KOS](https://holderbook.com/stocks/KOS/) | $5.9M | 2,813,788 | 1.9% | 2 |
| BORR DRILLING LTD | [BORR](https://holderbook.com/stocks/BORR/) | $5.4M | 1,301,361 | 1.8% | 3 |
| UNITED STS OIL FD LP | [USO](https://holderbook.com/stocks/USO/) | $5.3M | 0 | 1.7% | 1 |
| DELEK US HLDGS INC NEW | [DK](https://holderbook.com/stocks/DK/) | $5.2M | 102,717 | 1.7% | 4 |
| ISHARES TR | [EFA](https://holderbook.com/stocks/EFA/) | $5.2M | 0 | 1.7% | 1 |
| LIBERTY ENERGY INC | [LBRT](https://holderbook.com/stocks/LBRT/) | $4.6M | 173,768 | 1.5% | 2 |
| GENERAC HLDGS INC | [GNRC](https://holderbook.com/stocks/GNRC/) | $4.4M | 15,000 | 1.4% | 1 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $4.2M | 16,000 | 1.4% | 1 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $4.0M | 161,548 | 1.3% | 5 |
| HAFNIA LTD | [HAFN](https://holderbook.com/stocks/HAFN/) | $3.5M | 525,000 | 1.1% | 2 |
| ISHARES BITCOIN TRUST ETF | [IBIT](https://holderbook.com/stocks/IBIT/) | $3.3M | 0 | 1.1% | 1 |
| INNOVEX INTERNATIONAL INC | [INVX](https://holderbook.com/stocks/INVX/) | $3.3M | 131,066 | 1.1% | 5 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $3.1M | 15,000 | 1.0% | 1 |
| DENISON MINES CORP | [DNN](https://holderbook.com/stocks/DNN/) | $3.0M | 977,106 | 1.0% | 5 |
| OCEANEERING INTL INC | [OII](https://holderbook.com/stocks/OII/) | $2.8M | 69,689 | 0.9% | 2 |
| HALLADOR ENERGY COMPANY | [HNRG](https://holderbook.com/stocks/HNRG/) | $2.6M | 150,000 | 0.9% | 1 |
| UR-ENERGY INC | [URG](https://holderbook.com/stocks/URG/) | $2.6M | 1,875,507 | 0.8% | 2 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $2.5M | 68,524 | 0.8% | 3 |
| TORM PLC | [TRMD](https://holderbook.com/stocks/TRMD/) | $2.3M | 90,000 | 0.8% | 1 |
| CF INDUSTRIES HOLD | [CF](https://holderbook.com/stocks/CF/) | $2.2M | 20,000 | 0.7% | 2 |
| ANTERO RESOURCES CORP | [AR](https://holderbook.com/stocks/AR/) | $2.1M | 60,000 | 0.7% | 1 |
| GOLAR LNG LTD | [GLNG](https://holderbook.com/stocks/GLNG/) | $2.0M | 40,000 | 0.7% | 2 |
| NEXGEN ENERGY LTD | [NXE](https://holderbook.com/stocks/NXE/) | $1.9M | 204,656 | 0.6% | 5 |
| IAMGOLD CORP | [IAG](https://holderbook.com/stocks/IAG/) | $1.7M | 110,000 | 0.6% | 6 |
| NAVIGATOR HLDGS LTD | [NVGS](https://holderbook.com/stocks/NVGS/) | $1.7M | 92,000 | 0.6% | 2 |
| BLOOM ENERGY CORP | [BE](https://holderbook.com/stocks/BE/) | $1.5M | 5,000 | 0.5% | 1 |
| CENTURY ALUM CO | [CENX](https://holderbook.com/stocks/CENX/) | $1.5M | 32,000 | 0.5% | 2 |
| SANTACRUZ SILVER MNG LTD | [SCZM](https://holderbook.com/stocks/SCZM/) | $1.3M | 200,000 | 0.4% | 1 |
| PAN AMERN SILVER CORP | [PAAS](https://holderbook.com/stocks/PAAS/) | $1.1M | 25,000 | 0.4% | 2 |
| STRATEGY INC | [MSTR](https://holderbook.com/stocks/MSTR/) | $1.1M | 0 | 0.4% | 1 |
| DHT HOLDINGS INC | [DHT](https://holderbook.com/stocks/DHT/) | $991.8K | 60,000 | 0.3% | 1 |
| FERMI INC | [FRMI](https://holderbook.com/stocks/FRMI/) | $916.0K | 0 | 0.3% | 1 |
| DORIAN LPG LTD | [LPG](https://holderbook.com/stocks/LPG/) | $869.5K | 25,000 | 0.3% | 2 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -1.7% | +14.8% | -16.5% | 100% |
| Q1 2026 | +23.4% | -4.6% | +28.1% | 100% |
| Q4 2025 | +11.3% | +2.4% | +9.0% | 100% |
| Q3 2025 | +19.9% | +7.8% | +12.1% | 99% |
| Q2 2025 | +9.8% | +10.5% | -0.7% | 100% |
| Q1 2025 | -7.1% | -4.6% | -2.6% | 93% |
| Q4 2024 | -9.7% | +2.1% | -11.9% | 99% |
| Q3 2024 | -5.7% | +5.4% | -11.1% | 96% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $306.3M | 46 |
| Q1 2026 | $228.8M | 42 |
| Q4 2025 | $303.8M | 40 |
| Q3 2025 | $131.7M | 42 |
| Q2 2025 | $116.8M | 41 |
| Q1 2025 | $184.2M | 31 |
| Q4 2024 | $213.5M | 33 |
| Q3 2024 | $133.2M | 36 |
| Q2 2024 | $202.3M | 28 |
| Q1 2024 | $140.7M | 27 |
| Q4 2023 | $119.4M | 22 |
| Q3 2023 | $161.0M | 24 |