# LSP Investment Advisors, LLC

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1728850. Source: https://holderbook.com/funds/1728850-lsp-investment-advisors-llc/

- Reported value: $108.9M
- Positions: 18
- Weight of the ten largest: 94.9%
- 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 |
|---|---|---|---|---|---|
| EXPAND ENERGY CORPORATION | [EXE](https://holderbook.com/stocks/EXE/) | $29.2M | 319,717 | 26.8% | 9 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $28.2M | 530,300 | 25.9% | 6 |
| GULFPORT ENERGY CORP | [GPOR](https://holderbook.com/stocks/GPOR/) | $16.8M | 98,800 | 15.4% | 4 |
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $6.1M | 8,152 | 5.6% | 20 |
| ALPHABET INC | [GOOG](https://holderbook.com/stocks/GOOG/) | $5.6M | 15,734 | 5.1% | 20 |
| ISHARES TR | [EEM](https://holderbook.com/stocks/EEM/) | $5.5M | 80,012 | 5.0% | 20 |
| VANECK ETF TRUST | [GDX](https://holderbook.com/stocks/GDX/) | $3.9M | 51,832 | 3.6% | 20 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $3.4M | 11,396 | 3.1% | 20 |
| AMAZON COM INC | [AMZN](https://holderbook.com/stocks/AMZN/) | $2.5M | 10,440 | 2.3% | 20 |
| MICROSOFT CORP | [MSFT](https://holderbook.com/stocks/MSFT/) | $2.3M | 6,088 | 2.1% | 20 |
| ISHARES INC | [EWJ](https://holderbook.com/stocks/EWJ/) | $2.1M | 22,056 | 1.9% | 9 |
| VANECK ETF TRUST | [GDXJ](https://holderbook.com/stocks/GDXJ/) | $981.3K | 9,988 | 0.9% | 20 |
| EXELON CORP | [EXC](https://holderbook.com/stocks/EXC/) | $537.1K | 11,520 | 0.5% | 31 |
| CENTERPOINT ENERGY INC | [CNP](https://holderbook.com/stocks/CNP/) | $526.2K | 11,948 | 0.5% | 20 |
| ROBINHOOD MKTS INC | [HOOD](https://holderbook.com/stocks/HOOD/) | $437.6K | 4,364 | 0.4% | 19 |
| CONSTELLATION ENERGY CORP | [CEG](https://holderbook.com/stocks/CEG/) | $403.4K | 1,624 | 0.4% | 13 |
| PUBLIC SVC ENTERPRISE GROUP | [PEG](https://holderbook.com/stocks/PEG/) | $319.3K | 3,934 | 0.3% | 20 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $284.8K | 2,250 | 0.3% | 20 |

## 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 | -8.0% | +14.8% | -22.9% | 100% |
| Q1 2026 | +7.1% | -4.6% | +11.7% | 100% |
| Q4 2025 | +3.8% | +2.4% | +1.4% | 100% |
| Q3 2025 | +0.2% | +7.8% | -7.6% | 100% |
| Q2 2025 | +10.6% | +10.5% | +0.1% | 100% |
| Q1 2025 | +0.1% | -4.6% | +4.6% | 100% |
| Q4 2024 | -2.9% | +2.1% | -5.0% | 100% |
| Q3 2024 | +6.8% | +5.4% | +1.3% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $108.9M | 18 |
| Q1 2026 | $137.7M | 19 |
| Q4 2025 | $188.1M | 21 |
| Q3 2025 | $166.4M | 22 |
| Q2 2025 | $139.4M | 20 |
| Q1 2025 | $116.4M | 21 |
| Q4 2024 | $143.3M | 21 |
| Q3 2024 | $185.7M | 26 |
| Q2 2024 | $176.1M | 27 |
| Q1 2024 | $185.5M | 26 |
| Q4 2023 | $211.4M | 26 |
| Q3 2023 | $202.9M | 23 |