Deep Basin Capital LP

CIK

1719655

Location

Stamford, CT

Portfolio Value

Small $658,095,052

Diversification

Diversified

Filing Date

Global Rank

#2,002 / 6,028 ▼ 314 · as of Dec 2020

Top Industry

Oil & Gas E&P 44.7%

Period ended 5 years ago

Filed Feb 16, 2021 · 5y

4 quarters · since Mar 2020

Regulatory profile

From Form ADV, the SEC filer profile, 13D/13G type codes and N-CEN, never from the name.

Holder type

Unknown

Portfolio style

Measured from the filed 13F common-share book for Dec 31, 2020, never from the firm's own description.

Style

Concentrated

The top 10 positions are 70.6% of the book (60%+)

Turnover

Turnover unknown

It needs four straight quarters of measured turnover

Horizon

Horizon unknown

The value-weighted holding period is at least 3.2 quarters, but 66.2% of the book was already held when coverage starts

Closest benchmark: the S&P SmallCap 600 as of 2020-12-31, active share 99.0%; sector active share 69.8% against the combined 13F book's sector weights.

Over time 4 measured quarters

How the bands are measured

Style bands measure the filed 13F common-share book each closed quarter, tested in this order. Unknown: under $10,000,000 of valued equity or 5 stocks. Index-like (100+ stocks): active share of 20% or less against the closest benchmark, which is the S&P 500, S&P MidCap 400, S&P SmallCap 600, Russell 1000, Russell 2000, Nasdaq-100 or Dow Jones Industrial Average (weighted by an index-tracking fund's reported holdings or the index's constituents nearest the quarter end, over the names resolved to companies, and only when those are 90%+ of its weight) or every 13F filer's combined book, or index series holding 80%+ of the registered fund assets it advises (N-CEN) and equal to 50%+ of its book. Systematic-like: 500+ stocks, 100%+ annual turnover and a top 10 weight of 25% or less. Concentrated: a top 10 weight of 60%+ or 12 or fewer effective positions. Diversified active: none of these. Turnover is the smaller of buys and sells over average equity value, summed over four quarters: low under 30%, high 100%+. Horizon is the value-weighted number of quarters each position has been held: short under 4, long 12+.

Clone Performance

Build a hypothetical price-return history from this filer's public 13F holdings.

View clone backtest

Portfolio Concentration

37 tracked positions · as of Dec 31, 2020 · Δ vs Sep 30, 2020

Top Position

8.8%

−0.0 pts

Top 5

32.0%

−5.9 pts

Top 10

52.9%

−11.1 pts

HHI

408

Diversified−93

Portfolio Trend

4 quarters · across all stocks

Sector Breakdown

As of Dec 31, 2020

Sector	% Portfolio	Value	Positions
Energy	53.0%	$349,067,983	20
Unclassified	37.1%	$243,853,000	12
Industrials	5.4%	$35,264,176	3
Utilities	2.6%	$16,855,000	1
Consumer Cyclical	2.0%	$13,054,893	1

Last Quarter's Activity

Export CSV

Dec 31, 2020 vs Sep 30, 2020

Added To

Positions the filer increased

5 positions

Ticker	Company	Δ Shares	Shares	Value
VIST	Vista Energy, S.A.B. de C.V.	+638,423	4,227,330	$10,821,964
CRK	Comstock Resources Inc	+396,668	5,640,294	$24,648,084
CNX	CNX Resources Corp	+390,550	1,306,791	$14,113,342
EQNR	Equinor ASA	+38,112	890,800	$14,626,936
—		+17,926	631,227	$6,370,000
No positions match the current search.

Trimmed

Positions the filer reduced

14 positions

Ticker	Company	Δ Shares	Shares	Value
—		−5,781,337	1,598,566	$0
—		−3,222,216	940,155	$13,350,000
DVN	Devon Energy Corp	−2,343,826	1,362,634	$21,543,243
TRGP	Targa Resources Corp.	−1,986,807	868,399	$22,908,365
—		−1,951,830	2,288,840	$46,990,000
—		−1,272,046	2,650,905	$29,133,000
—		−970,059	1,140,247	$42,771,000
WHD	Cactus, Inc.	−649,307	373,940	$9,748,615
—		−610,612	419,007	$24,449,000
MUR	Murphy Oil Corp	−437,276	73,253	$886,361
—		−366,270	88,953	$10,478,000
—		−355,800	259,689	$13,708,000
—		−325,042	6,796,132	$0
LNG	Cheniere Energy, Inc.	−163,353	282,503	$16,958,655
No positions match the current search.

New Positions

Positions the filer opened this quarter

5 positions

Ticker	Company	Shares	Value
EQT	EQT Corp	2,059,167	$26,172,012
STPK	Stem, Inc.	823,796	$16,855,000
SU	Suncor Energy Inc	864,796	$14,511,276
RRC	Range Resources Corp	402,124	$2,694,230
BLDP	Ballard Power Systems Inc.	84,890	$1,986,426
No positions match the current search.

Sold Out

Positions the filer fully exited

6 positions

Ticker	Company	Shares	Value
SLB	Slb Limited	864,549	$13,452,382
—		4,411,717	$8,206,000
BP	Bp PLC	140,528	$2,453,618
DPHC	Stark Novus Financial Inc.	94,139	$2,423,000
TOT	TotalEnergies SE	72,254	$0
SPAQ	Horizon Kinetics SPAC Active ETF	2,213,888	$0
No positions match the current search.

Portfolio Positions

Compact Export CSV View 13F filing

37 tracked positions · $658,095,052 total · filing declares 53 positions · $738,701,000 · as of Dec 31, 2020

All sectors Consumer Cyclical Energy Industrials Utilities

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	Held (qtrs)	Est. cost/share	% of Portfolio
	CALL + SHARES	Reduced	1,540,247	-570,059	$57,775,000	+12.5%	4+	before history	8.78%
		Reduced	2,288,840	-1,951,830	$46,990,000	−10.6%	4+	before history	7.14%
	PUT + SHARES	Reduced	694,007	-735,612	$40,496,000	−35.8%	4+	before history	6.15%
TRGP	Targa Resources Corp. PUT + SHARES Energy	Reduced	1,368,399	-2,786,807	$36,098,365	−38.1%	4+	before history	5.49%
DVN	Devon Energy Corp PUT + SHARES Energy	Reduced	1,862,634	-3,043,826	$29,448,243	−36.6%	4+	before history	4.47%
		Reduced	2,650,905	-1,272,046	$29,133,000	−16.7%	4+	before history	4.43%
CRK	Comstock Resources Inc CALL + SHARES Energy	Added	6,490,294	+1,246,668	$28,362,584	+23.5%	3	$5.58	4.31%
AR	ANTERO RESOURCES Corp PUT Energy	Added	5,100,000	+350,000	$27,795,000	+112.8%	—	—	4.22%
EQT	EQT Corp Energy	NEW	2,059,167	NEW	$26,172,012	NEW	1	$14.41	3.98%
	PUT + SHARES	Reduced	484,689	-380,800	$25,586,000	−27.8%	2	unpriced	3.89%
XOM	ExxonMobil Holdings Corp PUT CALL Energy	Added	575,000	+275,000	$23,701,500	+130.1%	—	—	3.60%
	PUT + SHARES	Reduced	188,953	-466,270	$22,257,000	−51.7%	4+	before history	3.38%
CNX	CNX Resources Corp CALL + SHARES Energy	Added	1,856,791	+940,550	$20,053,342	+131.8%	2	$10.16	3.05%
MGY	Magnolia Oil & Gas Corp PUT Energy	NEW	2,600,000	NEW	$18,356,000	NEW	—	—	2.79%
LNG	Cheniere Energy, Inc. Energy	Reduced	282,503	-388,353	$16,958,655	−45.4%	4+	before history	2.58%
STPK	Stem, Inc. Utilities	NEW	823,796	NEW	$16,855,000	NEW	1	unpriced	2.56%
WMB	Williams Companies, Inc. PUT Energy	NEW	800,000	NEW	$16,040,000	NEW	—	—	2.44%
EQNR	Equinor ASA Energy	Added	890,800	+38,112	$14,626,936	+22.0%	2	$15.42	2.22%
SU	Suncor Energy Inc Energy	NEW	864,796	NEW	$14,511,276	NEW	1	$14.69	2.21%
		Reduced	940,155	-3,222,216	$13,350,000	−65.7%	4+	before history	2.03%
TSLA	Tesla, Inc. PUT Consumer Cyclical	Reduced	18,500	-31,500	$13,054,893	−39.1%	—	—	1.98%
WES	Western Midstream Partners, LP PUT Energy	NEW	900,000	NEW	$12,438,000	NEW	—	—	1.89%
	PUT	Added	750,000	+350,000	$12,224,000	+148.8%	—	—	1.86%
PLUG	Plug Power Inc PUT Industrials	NEW	325,000	NEW	$11,020,750	NEW	—	—	1.67%
SLB	Slb Limited CALL Energy	Reduced	500,000	-364,549	$10,915,000	−18.9%	—	—	1.66%
VIST	Vista Energy, S.A.B. de C.V. Energy	Added	4,227,330	+638,423	$10,821,964	+34.0%	4+	before history	1.64%
WHD	Cactus, Inc. Energy	Reduced	373,940	-649,307	$9,748,615	−50.4%	4+	before history	1.48%
RRC	Range Resources Corp CALL + SHARES Energy	Added	1,302,124	+552,124	$8,724,230	+75.7%	1	$7.35	1.33%
CVE	Cenovus Energy Inc. PUT Energy	NEW	1,435,000	NEW	$8,667,400	NEW	—	—	1.32%
MUR	Murphy Oil Corp CALL + SHARES Energy	Reduced	698,253	-812,276	$8,448,861	−37.3%	2	$12.83	1.28%
OVV	Ovintiv Inc. CALL Energy	Reduced	500,000	-1,350,000	$7,180,000	−52.4%	—	—	1.09%
	PUT	NEW	450,000	NEW	$6,593,000	NEW	—	—	1.00%
		Added	631,227	+17,926	$6,370,000	+35.1%	4+	before history	0.97%
	CALL	NEW	800,000	NEW	$5,336,000	NEW	—	—	0.81%
BLDP	Ballard Power Systems Inc. Industrials	NEW	84,890	NEW	$1,986,426	NEW	1	$18.42	0.30%
		Reduced	1,973,566	-7,306,337	$0	—	4+	before history	0.00%
		Reduced	6,796,132	-325,042	$0	—	3	unpriced	0.00%

Covers the securities this platform tracks: U.S.-listed common stock and the put/call positions reported on it. A 13F can also report security types outside that coverage — preferred shares, bonds, warrants, untracked share classes — so the filing's own declared total can exceed the figures above. The source filing is linked at the top of this table.