# Merewether Investment Management, LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1736852. Source: https://holderbook.com/funds/1736852-merewether-investment-management-lp/

- Reported value: $5.3B
- Positions: 81
- Weight of the ten largest: 34.3%
- 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 |
|---|---|---|---|---|---|
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $271.1M | 6,561,677 | 5.1% | 1 |
| OVINTIV INC | [OVV](https://holderbook.com/stocks/OVV/) | $229.6M | 4,361,717 | 4.3% | 6 |
| ENTERGY CORP NEW | [ETR](https://holderbook.com/stocks/ETR/) | $205.3M | 1,787,604 | 3.9% | 7 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $200.7M | 1,265,438 | 3.8% | 17 |
| DARLING INGREDIENTS INC | [DAR](https://holderbook.com/stocks/DAR/) | $164.0M | 3,002,575 | 3.1% | 6 |
| PHILLIPS 66 | [PSX](https://holderbook.com/stocks/PSX/) | $163.5M | 967,351 | 3.1% | 2 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $162.3M | 2,182,992 | 3.1% | 3 |
| SUNCOR ENERGY INC NEW | [SU](https://holderbook.com/stocks/SU/) | $151.3M | 2,814,167 | 2.9% | 6 |
| DT MIDSTREAM INC | [DTM](https://holderbook.com/stocks/DTM/) | $138.8M | 946,016 | 2.6% | 6 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $134.9M | 502,928 | 2.5% | 21 |
| CENTERPOINT ENERGY INC | [CNP](https://holderbook.com/stocks/CNP/) | $131.4M | 2,983,658 | 2.5% | 6 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $120.9M | 4,871,447 | 2.3% | 10 |
| NVENT ELEC PLC | [NVT](https://holderbook.com/stocks/NVT/) | $115.0M | 677,859 | 2.2% | 5 |
| PERMIAN RESOURCES CORP | [PR](https://holderbook.com/stocks/PR/) | $112.5M | 6,112,296 | 2.1% | 14 |
| RALLIANT CORP | [RAL](https://holderbook.com/stocks/RAL/) | $112.4M | 1,526,211 | 2.1% | 2 |
| ALLIANT ENERGY CORP | [LNT](https://holderbook.com/stocks/LNT/) | $107.8M | 1,412,803 | 2.0% | 1 |
| BUNGE GLOBAL SA | [BG](https://holderbook.com/stocks/BG/) | $103.1M | 965,795 | 1.9% | 4 |
| HALLIBURTON CO | [HAL](https://holderbook.com/stocks/HAL/) | $90.6M | 2,668,794 | 1.7% | 1 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $90.2M | 377,399 | 1.7% | 4 |
| TECHNIPFMC PLC | [FTI](https://holderbook.com/stocks/FTI/) | $85.9M | 1,296,300 | 1.6% | 14 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $83.9M | 1,577,324 | 1.6% | 9 |
| SOLSTICE ADVANCED MATLS INC | [SOLS](https://holderbook.com/stocks/SOLS/) | $80.7M | 910,394 | 1.5% | 2 |
| WESCO INTL INC | [WCC](https://holderbook.com/stocks/WCC/) | $80.6M | 233,424 | 1.5% | 1 |
| MASTEC INC | [MTZ](https://holderbook.com/stocks/MTZ/) | $79.1M | 190,236 | 1.5% | 7 |
| MADISON AIR SOLUTIONS CORP | [MAIR](https://holderbook.com/stocks/MAIR/) | $75.8M | 1,943,728 | 1.4% | 1 |
| TOTALENERGIES SE | [TTE](https://holderbook.com/stocks/TTE/) | $75.5M | 971,338 | 1.4% | 2 |
| MARATHON PETE CORP | [MPC](https://holderbook.com/stocks/MPC/) | $73.8M | 288,592 | 1.4% | 2 |
| LEGENCE CORP | [LGN](https://holderbook.com/stocks/LGN/) | $72.7M | 852,658 | 1.4% | 4 |
| COMFORT SYS USA INC | [FIX](https://holderbook.com/stocks/FIX/) | $72.7M | 36,660 | 1.4% | 5 |
| INNIO NV | [INIO](https://holderbook.com/stocks/INIO/) | $70.8M | 1,788,900 | 1.3% | 1 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $68.1M | 1,842,007 | 1.3% | 3 |
| CRH PLC | [CRH](https://holderbook.com/stocks/CRH/) | $67.1M | 626,927 | 1.3% | 2 |
| SENSATA TECHNOLOGIES HLDG PL | [ST](https://holderbook.com/stocks/ST/) | $62.9M | 1,317,795 | 1.2% | 3 |
| TENARIS S A | [TS](https://holderbook.com/stocks/TS/) | $62.7M | 1,130,692 | 1.2% | 1 |
| TALEN ENERGY CORP | [TLN](https://holderbook.com/stocks/TLN/) | $59.5M | 154,750 | 1.1% | 1 |
| SELECT WATER SOLUTIONS INC | [WTTR](https://holderbook.com/stocks/WTTR/) | $59.1M | 2,955,888 | 1.1% | 2 |
| WEATHERFORD INTL PLC | [WFRD](https://holderbook.com/stocks/WFRD/) | $57.0M | 699,412 | 1.1% | 1 |
| CORE NATURAL RESOURCES INC | [CNR](https://holderbook.com/stocks/CNR/) | $55.0M | 687,465 | 1.0% | 3 |
| JAMES HARDIE INDS PLC | [JHX](https://holderbook.com/stocks/JHX/) | $54.0M | 2,064,029 | 1.0% | 3 |
| BORGWARNER INC | [BWA](https://holderbook.com/stocks/BWA/) | $53.2M | 801,595 | 1.0% | 1 |
| XCEL ENERGY INC | [XEL](https://holderbook.com/stocks/XEL/) | $52.6M | 654,993 | 1.0% | 5 |
| METHANEX CORP | [MEOH](https://holderbook.com/stocks/MEOH/) | $52.2M | 1,130,053 | 1.0% | 1 |
| LINCOLN ELEC HLDGS INC | [LECO](https://holderbook.com/stocks/LECO/) | $50.3M | 189,326 | 0.9% | 3 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $47.8M | 459,835 | 0.9% | 2 |
| IAMGOLD CORP | [IAG](https://holderbook.com/stocks/IAG/) | $47.8M | 3,017,051 | 0.9% | 6 |
| QNITY ELECTRONICS INC | [Q](https://holderbook.com/stocks/Q/) | $46.4M | 283,819 | 0.9% | 3 |
| BKV CORP | [BKV](https://holderbook.com/stocks/BKV/) | $45.8M | 1,673,695 | 0.9% | 8 |
| FLEX LTD | [FLEX](https://holderbook.com/stocks/FLEX/) | $44.7M | 275,600 | 0.8% | 1 |
| EXXON MOBIL CORP | [XOMXXXX](https://holderbook.com/stocks/XOMXXXX/) | $41.4M | 302,662 | 0.8% | 21 |
| HF SINCLAIR CORP | [DINO](https://holderbook.com/stocks/DINO/) | $35.2M | 504,845 | 0.7% | 2 |
| FRANCO NEV CORP | [FNV](https://holderbook.com/stocks/FNV/) | $35.0M | 167,712 | 0.7% | 2 |
| BLACK HILLS CORP | [BKH](https://holderbook.com/stocks/BKH/) | $33.9M | 455,327 | 0.6% | 1 |
| CIPHER DIGITAL INC | [CIFR](https://holderbook.com/stocks/CIFR/) | $33.6M | 1,371,500 | 0.6% | 1 |
| SEADRILL LTD | [SDRL](https://holderbook.com/stocks/SDRL/) | $33.5M | 886,747 | 0.6% | 2 |
| ECOLAB INC | [ECL](https://holderbook.com/stocks/ECL/) | $33.0M | 118,300 | 0.6% | 1 |
| CENTURY ALUM CO | [CENX](https://holderbook.com/stocks/CENX/) | $31.9M | 693,537 | 0.6% | 2 |
| HUT 8 CORP | [HUT](https://holderbook.com/stocks/HUT/) | $31.1M | 269,217 | 0.6% | 3 |
| SUNOCOCORP LLC | [SUNC](https://holderbook.com/stocks/SUNC/) | $30.9M | 456,100 | 0.6% | 1 |
| CENTERRA GOLD INC | [CGAU](https://holderbook.com/stocks/CGAU/) | $29.7M | 1,873,130 | 0.6% | 3 |
| NUCOR CORP | [NUE](https://holderbook.com/stocks/NUE/) | $28.9M | 129,793 | 0.5% | 3 |
| ARCELORMITTAL SA LUXEMBOURG | [MT](https://holderbook.com/stocks/MT/) | $23.6M | 391,406 | 0.4% | 2 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $23.5M | 374,286 | 0.4% | 3 |
| NEXTPOWER INC | [NXT](https://holderbook.com/stocks/NXT/) | $23.2M | 194,705 | 0.4% | 5 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $22.2M | 604,634 | 0.4% | 1 |
| PRIMORIS SVCS CORP | [PRIM](https://holderbook.com/stocks/PRIM/) | $21.0M | 211,913 | 0.4% | 3 |
| EAGLEROCK LD LLC | - | $18.6M | 873,238 | 0.3% | 1 |
| ARIS MINING CORPORATION | [ARIS](https://holderbook.com/stocks/ARIS/) | $17.9M | 1,202,125 | 0.3% | 4 |
| ENERGY TRANSFER L P | [ET](https://holderbook.com/stocks/ET/) | $16.0M | 835,800 | 0.3% | 2 |
| LITHIUM ARGENTINA AG | [LAR](https://holderbook.com/stocks/LAR/) | $12.7M | 1,540,027 | 0.2% | 1 |
| ATMOS ENERGY CORP | [ATO](https://holderbook.com/stocks/ATO/) | $12.6M | 73,124 | 0.2% | 7 |
| BAKER HUGHES COMPANY | [BKR](https://holderbook.com/stocks/BKR/) | $11.7M | 210,451 | 0.2% | 2 |
| STANDARD LITHIUM CORP | [SLI](https://holderbook.com/stocks/SLI/) | $11.2M | 4,057,435 | 0.2% | 3 |
| TREKOR METALS LTD | - | $10.3M | 1,500,000 | 0.2% | 1 |
| TAMBORAN RES CORP | [TBN](https://holderbook.com/stocks/TBN/) | $9.6M | 294,477 | 0.2% | 3 |
| GENERAL MTRS CO | [GM](https://holderbook.com/stocks/GM/) | $8.1M | 104,725 | 0.2% | 3 |
| DENISON MINES CORP | [DNN](https://holderbook.com/stocks/DNN/) | $6.0M | 1,948,152 | 0.1% | 4 |
| LIBERTY ENERGY INC | [LBRT](https://holderbook.com/stocks/LBRT/) | $5.0M | 189,399 | 0.1% | 3 |
| X-ENERGY INC | [XE](https://holderbook.com/stocks/XE/) | $4.1M | 224,312 | 0.1% | 1 |
| WESTLAKE CORPORATION | [WLK](https://holderbook.com/stocks/WLK/) | $3.9M | 53,439 | 0.1% | 4 |
| DUPONT DE NEMOURS INC | - | $3.8M | 28,357 | 0.1% | 1 |
| DPC HOLDINGS PLC | [DPC](https://holderbook.com/stocks/DPC/) | $1.2M | 25,000 | 0.0% | 1 |

## 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 | -2.4% | +14.8% | -17.2% | 100% |
| Q1 2026 | +22.3% | -4.6% | +26.9% | 100% |
| Q4 2025 | +1.7% | +2.4% | -0.7% | 100% |
| Q3 2025 | +11.4% | +7.8% | +3.6% | 100% |
| Q2 2025 | +6.4% | +10.5% | -4.0% | 100% |
| Q1 2025 | +3.4% | -4.6% | +7.9% | 100% |
| Q4 2024 | +2.9% | +2.1% | +0.7% | 100% |
| Q3 2024 | +5.0% | +5.4% | -0.4% | 100% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $5.3B | 81 |
| Q1 2026 | $5.2B | 79 |
| Q4 2025 | $4.3B | 77 |
| Q3 2025 | $4.2B | 70 |
| Q2 2025 | $3.5B | 63 |
| Q1 2025 | $2.8B | 54 |
| Q4 2024 | $2.5B | 52 |
| Q3 2024 | $2.2B | 46 |
| Q2 2024 | $1.9B | 44 |
| Q1 2024 | $1.9B | 42 |
| Q4 2023 | $1.7B | 45 |
| Q3 2023 | $1.7B | 40 |