Merewether Investment Management, LP
Filing Date
Global Rank
#650
/ 8,624
▲ 116
· as of Mar 2026
Top Industry
Oil & Gas E&P
18.8%
3Y Alpha vs SPY
+10.4%
Period ended 4 months ago
Filed May 15, 2026 · 3mo
22 quarters · since Dec 2020
Clone Performance
Jul 2023–Jul 2026 · vs SPYHypothetical growth of buying every stock this filer reported holding, rebalancing on each filing and indexed to the same start. Option positions cannot be bought this way and are left out.
Cloned portfolio
+117.7%
SPY
+67.7%
Annualised alpha
+10.8%
Max drawdown
−20.3%
Estimate. 13F holdings are quarter-lagged, so the clone rebalances about 45 days after each period end — when the filing becomes public — and it excludes option and short positions. It tracks 100% of reported value on average across 13 quarters. Past performance does not predict future results.
Portfolio Concentration
79 tracked positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025Top Position
5.0%
+1.1 pts
Top 5
21.1%
+3.6 pts
Top 10
35.4%
+2.4 pts
HHI
229
Diversified+19
Portfolio Trend
22 quarters · across all stocks
Sector Breakdown
As of Mar 31, 2026| Sector | % Portfolio | Value |
|---|---|---|
| Energy | 53.1% | $2,744,854,917 |
| Utilities | 15.9% | $820,472,291 |
| Basic Materials | 10.5% | $539,942,550 |
| Industrials | 10.2% | $527,068,827 |
| Consumer Defensive | 6.7% | $347,900,416 |
| Technology | 3.4% | $175,586,618 |
| Financial Services | 0.1% | $5,908,591 |
| Consumer Cyclical | 0.1% | $3,407,641 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
20 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| CTRA | Coterra Energy Inc. | +5,228,191 | 7,301,691 | $256,581,421 | |
| CVE | Cenovus Energy Inc. | +2,695,009 | 4,771,600 | $126,590,548 | |
| DAR | Darling Ingredients Inc. | +2,446,409 | 3,324,523 | $205,621,747 | |
| JHX | James Hardie Industries plc | +1,081,230 | 1,957,830 | $37,081,300 | |
| ST | Sensata Technologies Holding plc | +892,042 | 1,796,642 | $63,277,731 | |
| VST | Vistra Corp. | +718,299 | 1,115,621 | $167,711,304 | |
| OVV | Ovintiv Inc. | +670,617 | 4,283,314 | $254,257,519 | |
| BP | Bp PLC | +533,297 | 3,541,397 | $166,445,659 | |
| CNR | Core Natural Resources, Inc. | +387,234 | 726,634 | $76,100,378 | |
| EQT | EQT Corp | +224,564 | 1,069,850 | $68,085,254 | |
| AR | ANTERO RESOURCES Corp | +223,500 | 951,200 | $40,368,928 | |
| CCJ | Cameco Corp | +144,956 | 233,810 | $25,394,104 | |
| NRG | Nrg Energy, Inc. | +125,280 | 890,906 | $130,197,002 | |
| HUBB | Hubbell Inc | +113,417 | 216,337 | $106,165,219 | |
| LNG | Cheniere Energy, Inc. | +110,871 | 459,471 | $130,379,490 | |
| NUE | Nucor Corp | +89,214 | 293,114 | $49,565,577 | |
| LBRT | Liberty Energy Inc. | +80,483 | 1,031,575 | $29,709,360 | |
| CNP | Centerpoint Energy Inc | +55,405 | 2,952,405 | $127,425,799 | |
| NXT | Nextpower Inc. | +44,232 | 133,207 | $16,058,103 | |
| CGAU | Centerra Gold Inc. | +11,423 | 2,264,523 | $40,285,864 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| WULF | Terawulf Inc. | −2,128,588 | 35,912 | $518,210 | |
| DNN | Denison Mines Corp. | −1,695,140 | 4,208,160 | $14,854,804 | |
| GTX | Garrett Motion Inc. | −1,607,737 | 78,363 | $1,423,855 | |
| DD | DuPont de Nemours, Inc. | −1,161,336 | 85,460 | $3,914,067 | |
| FCX | Freeport-Mcmoran Inc | −910,636 | 998,764 | $58,707,347 | |
| EXE | EXPAND ENERGY Corp | −897,385 | 431,690 | $47,390,928 | |
| ETR | Entergy Corp /De/ | −702,358 | 1,094,542 | $122,982,739 | |
| FTI | TechnipFMC plc | −674,845 | 836,283 | $57,812,243 | |
| WMB | Williams Companies, Inc. | −672,572 | 1,668,428 | $121,428,189 | |
| XEL | Xcel Energy Inc | −636,168 | 1,531,542 | $121,665,696 | |
| GM | General Motors Co | −606,672 | 26,628 | $1,983,786 | |
| XOM | ExxonMobil Holdings Corp | −468,231 | 233,262 | $39,575,230 | |
| Q | Qnity Electronics, Inc. | −444,764 | 433,284 | $49,992,307 | |
| LGN | Legence Corp. | −408,086 | 726,336 | $41,008,930 | |
| NVT | nVent Electric plc | −385,243 | 950,331 | $112,405,150 | |
| IAG | Iamgold Corp | −382,248 | 2,953,542 | $55,585,660 | |
| FANG | Diamondback Energy, Inc. | −374,185 | 266,065 | $52,624,996 | |
| PARR | Par Pacific Holdings, Inc. | −364,935 | 369,465 | $23,143,287 | |
| MTZ | Mastec Inc | −346,079 | 223,061 | $71,767,646 | |
| ARIS | Aris Mining Corp | −298,404 | 1,396,396 | $25,931,073 | |
| HUT | Hut 8 Corp. | −278,691 | 114,909 | $5,390,381 | |
| DTM | DT Midstream, Inc. | −207,594 | 835,006 | $112,450,258 | |
| SU | Suncor Energy Inc | −173,653 | 3,103,851 | $205,195,589 | |
| WLK | Westlake Corp | −168,200 | 219,900 | $25,688,718 | |
| ATO | Atmos Energy Corp | −166,727 | 71,509 | $13,209,142 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
23 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| TTE | TotalEnergies SE | 949,800 | $86,412,804 | |
| MPC | Marathon Petroleum Corp | 310,500 | $75,817,890 | |
| COP | Conocophillips | 522,192 | $68,929,344 | |
| DINO | HF Sinclair Corp | 1,054,435 | $65,786,199 | |
| VG | Venture Global, Inc. | 4,154,300 | $65,471,768 | |
| LYB | LyondellBasell Industries N.V. | 654,687 | $52,741,584 | |
| SOLS | Solstice Advanced Materials Inc. | 642,451 | $48,929,068 | |
| RAL | Ralliant Corp | 1,112,250 | $46,258,477 | |
| WTTR | Select Water Solutions, Inc. | 2,889,000 | $44,201,700 | |
| SDRL | SEADRILL Ltd | 867,338 | $39,463,879 | |
| NE | Noble Corp plc | 779,215 | $38,236,080 | |
| FNV | FRANCO NEVADA Corp | 144,000 | $35,575,200 | |
| CRH | Crh Public Ltd Co | 338,119 | $35,543,069 | |
| PTEN | Patterson Uti Energy Inc | 3,003,324 | $32,525,998 | |
| CENX | Century Aluminum Co | 514,800 | $30,213,612 | |
| OLN | OLIN Corp | 623,377 | $18,532,998 | |
| PSX | Phillips 66 | 82,300 | $14,993,414 | |
| BKR | Baker Hughes Co | 173,400 | $10,586,070 | |
| ET | Energy Transfer LP | 516,200 | $9,962,660 | |
| FLS | Flowserve Corp | 75,100 | $5,520,601 | |
| CE | Celanese Corp | 74,600 | $4,906,442 | |
| ALB | Albemarle Corp | 9,640 | $1,730,669 | |
| MT | ArcelorMittal | 28,173 | $1,464,432 | |
| No positions match the current search. | ||||
Sold Out
Positions the filer fully exited
21 positions
| Ticker | Company | Shares | Value | Open |
|---|---|---|---|---|
| FSLR | First Solar, Inc. | 325,100 | $84,925,873 | |
| VLO | Valero Energy Corp/Tx | 359,131 | $58,462,935 | |
| B | Barrick Mining Corp | 1,331,000 | $57,965,050 | |
| AA | Alcoa Corp | 882,200 | $46,880,108 | |
| AYI | Acuity Inc. (De) | 116,000 | $41,764,640 | |
| CLF | Cleveland-Cliffs Inc. | 3,096,600 | $41,122,848 | |
| SHEL | Shell plc | 539,421 | $39,636,655 | |
| CTRI | Centuri Holdings, Inc. | 1,344,000 | $33,936,000 | |
| SLB | Slb Limited/Nv | 857,300 | $32,903,174 | |
| GNRC | Generac Holdings Inc. | 188,946 | $25,766,566 | |
| WHD | Cactus, Inc. | 504,900 | $23,063,832 | |
| TGB | Trekor Metals Ltd | 3,672,900 | $20,788,614 | |
| WBI | WaterBridge Infrastructure LLC | 870,400 | $17,416,704 | |
| STNG | Scorpio Tankers Inc. | 323,861 | $16,461,854 | |
| EGO | Eldorado Gold Corp /Fi | 393,700 | $14,141,704 | |
| KEX | Kirby Corp | 122,300 | $13,475,014 | |
| VNOM | Viper Energy, Inc. | 318,082 | $12,287,507 | |
| STLD | Steel Dynamics Inc | 53,400 | $9,048,630 | |
| TLN | Talen Energy Corp | 23,908 | $8,961,674 | |
| ALV | Autoliv Inc | 6,400 | $759,680 | |
| VC | Visteon Corp | 5,200 | $494,520 | |
| No positions match the current search. | ||||
79 tracked positions ·
$5,165,141,851 total
· filing declares
79 positions · $5,164,986,517
· as of Mar 31, 2026
All sectors
Basic Materials
Consumer Cyclical
Consumer Defensive
Energy
Financial Services
Industrials
Technology
Utilities
Showing 1–50
of 79 positions by value
· page 1 of 2
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| CTRA |
Coterra Energy Inc.
Energy
|
Added | 7,301,691 | $256,581,421 | 4.97% | |
| OVV |
Ovintiv Inc.
Energy
|
Added | 4,283,314 | $254,257,519 | 4.92% | |
| DAR |
Darling Ingredients Inc.
Consumer Defensive
|
Added | 3,324,523 | $205,621,747 | 3.98% | |
| SU |
Suncor Energy Inc
Energy
|
Reduced | 3,103,851 | $205,195,589 | 3.97% | |
| VST |
Vistra Corp.
Utilities
|
Added | 1,115,621 | $167,711,304 | 3.25% | |
| BP |
Bp PLC
Energy
|
Added | 3,541,397 | $166,445,659 | 3.22% | |
| TRGP |
Targa Resources Corp.
Energy
|
Reduced | 648,440 | $162,583,361 | 3.15% | |
| BG |
Bunge Global SA
Consumer Defensive
|
Reduced | 1,118,543 | $142,278,669 | 2.75% | |
| SRE |
Sempra
Utilities
|
Reduced | 1,412,788 | $137,280,609 | 2.66% | |
| PR |
Permian Resources Corp
Energy
|
Reduced | 6,148,515 | $131,086,339 | 2.54% | |
| LNG |
Cheniere Energy, Inc.
Energy
|
Added | 459,471 | $130,379,490 | 2.52% | |
| NRG |
Nrg Energy, Inc.
Utilities
|
Added | 890,906 | $130,197,002 | 2.52% | |
| CNP |
Centerpoint Energy Inc
Utilities
|
Added | 2,952,405 | $127,425,799 | 2.47% | |
| CVE |
Cenovus Energy Inc.
Energy
|
Added | 4,771,600 | $126,590,548 | 2.45% | |
| ETR |
Entergy Corp /De/
Utilities
|
Reduced | 1,094,542 | $122,982,739 | 2.38% | |
| XEL |
Xcel Energy Inc
Utilities
|
Reduced | 1,531,542 | $121,665,696 | 2.36% | |
| WMB |
Williams Companies, Inc.
Energy
|
Reduced | 1,668,428 | $121,428,189 | 2.35% | |
| DTM |
DT Midstream, Inc.
Energy
|
Reduced | 835,006 | $112,450,258 | 2.18% | |
| NVT |
nVent Electric plc
Industrials
|
Reduced | 950,331 | $112,405,150 | 2.18% | |
| HUBB |
Hubbell Inc
Industrials
|
Added | 216,337 | $106,165,219 | 2.06% | |
| PRIM |
Primoris Services Corp
Industrials
|
Reduced | 674,839 | $96,528,970 | 1.87% | |
| TTE |
TotalEnergies SE
Energy
|
NEW | 949,800 | $86,412,804 | 1.67% | |
| CNR |
Core Natural Resources, Inc.
Energy
|
Added | 726,634 | $76,100,378 | 1.47% | |
| MPC |
Marathon Petroleum Corp
Energy
|
NEW | 310,500 | $75,817,890 | 1.47% | |
| MTZ |
Mastec Inc
Industrials
|
Reduced | 223,061 | $71,767,646 | 1.39% | |
| COP |
Conocophillips
Energy
|
NEW | 522,192 | $68,929,344 | 1.33% | |
| EQT |
EQT Corp
Energy
|
Added | 1,069,850 | $68,085,254 | 1.32% | |
| DINO |
HF Sinclair Corp
Energy
|
NEW | 1,054,435 | $65,786,199 | 1.27% | |
| VG |
Venture Global, Inc.
Energy
|
NEW | 4,154,300 | $65,471,768 | 1.27% | |
| ST |
Sensata Technologies Holding plc
Technology
|
Added | 1,796,642 | $63,277,731 | 1.23% | |
| FCX |
Freeport-Mcmoran Inc
Basic Materials
|
Reduced | 998,764 | $58,707,347 | 1.14% | |
| FTI |
TechnipFMC plc
Energy
|
Reduced | 836,283 | $57,812,243 | 1.12% | |
| IAG |
Iamgold Corp
Basic Materials
|
Reduced | 2,953,542 | $55,585,660 | 1.08% | |
| LYB |
LyondellBasell Industries N.V.
Basic Materials
|
NEW | 654,687 | $52,741,584 | 1.02% | |
| FANG |
Diamondback Energy, Inc.
Energy
|
Reduced | 266,065 | $52,624,996 | 1.02% | |
| Q |
Qnity Electronics, Inc.
Technology
|
Reduced | 433,284 | $49,992,307 | 0.97% | |
| NUE |
Nucor Corp
Basic Materials
|
Added | 293,114 | $49,565,577 | 0.96% | |
| SOLS |
Solstice Advanced Materials Inc.
Basic Materials
|
NEW | 642,451 | $48,929,068 | 0.95% | |
| EXE |
EXPAND ENERGY Corp
Energy
|
Reduced | 431,690 | $47,390,928 | 0.92% | |
| BKV |
BKV Corp
Energy
|
Reduced | 1,646,773 | $46,965,965 | 0.91% | |
| RAL |
Ralliant Corp
Technology
|
NEW | 1,112,250 | $46,258,477 | 0.90% | |
| WTTR |
Select Water Solutions, Inc.
Energy
|
NEW | 2,889,000 | $44,201,700 | 0.86% | |
| LGN |
Legence Corp.
Industrials
|
Reduced | 726,336 | $41,008,930 | 0.79% | |
| AR |
ANTERO RESOURCES Corp
Energy
|
Added | 951,200 | $40,368,928 | 0.78% | |
| CGAU |
Centerra Gold Inc.
Basic Materials
|
Added | 2,264,523 | $40,285,864 | 0.78% | |
| XOM |
ExxonMobil Holdings Corp
Energy
|
Reduced | 233,262 | $39,575,230 | 0.77% | |
| CMI |
Cummins Inc
Industrials
|
Reduced | 73,528 | $39,559,534 | 0.77% | |
| SDRL |
SEADRILL Ltd
Energy
|
NEW | 867,338 | $39,463,879 | 0.76% | |
| NE |
Noble Corp plc
Energy
|
NEW | 779,215 | $38,236,080 | 0.74% | |
| JHX |
James Hardie Industries plc
Basic Materials
|
Added | 1,957,830 | $37,081,300 | 0.72% |
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.