Merewether Investment Management, LP

CIK

1736852

Location

DALLAS, TX

Portfolio Value

Mid $5,133,394,758

Diversification

Diversified

Filing Date

Global Rank

#651 / 8,603 ▲ 112 · as of Mar 2026

Top Industry

Oil & Gas E&P 18.9%

3Y Alpha vs SPY

+10.6%

Period ended 3 months ago

Filed May 15, 2026 · 55d

22 quarters · since Dec 2020

Clone Performance

Jul 2023–Jul 2026 · vs SPY

Hypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.

Cloned portfolio

+131.0%

SPY

+76.5%

Annualised alpha

+11.3%

Max drawdown

−20.5%

Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.

Portfolio Concentration

78 positions · as of Mar 31, 2026 · Δ vs Dec 31, 2025

Top Position

5.0%

+1.2 pts

Top 5

21.2%

+3.6 pts

Top 10

35.6%

+2.1 pts

HHI

231

Diversified+16

Portfolio Trend

22 quarters · across all stocks

Sector Breakdown

As of Mar 31, 2026

Sector	% Portfolio	Value	Positions
Energy	52.7%	$2,705,279,687	34
Utilities	16.0%	$820,472,291	7
Basic Materials	10.7%	$547,770,687	18
Industrials	10.3%	$527,068,827	9
Consumer Defensive	6.8%	$347,900,416	2
Technology	3.4%	$175,586,618	4
Financial Services	0.1%	$5,908,591	2
Consumer Cyclical	0.1%	$3,407,641	2

Last Quarter's Activity

Export CSV

Mar 31, 2026 vs Dec 31, 2025

Added To

Positions the filer increased

20 positions

Ticker	Company	Δ Shares	Shares	Value
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
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	$11,742,204
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
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
SRE	Sempra	−134,344	1,412,788	$137,280,609
No positions match the current search.

New Positions

Positions the filer opened this quarter

23 positions

Ticker	Company	Shares	Value
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
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.

Portfolio Positions

Compact Export CSV View 13F filing

78 positions · $5,133,394,758 total · as of Mar 31, 2026

All sectors Basic Materials Consumer Cyclical Consumer Defensive Energy Financial Services Industrials Technology Utilities

Showing 1–50 of 78 positions by value · page 1 of 2

Ticker	Company	Type	Shares	Δ Shares	Value (USD)	% Δ Value	% of Portfolio
CTRA	Coterra Energy Inc. Energy	Added	7,301,691	+5,228,191	$256,581,421	+370.1%	5.00%
OVV	Ovintiv Inc. Energy	Added	4,283,314	+670,617	$254,257,519	+79.6%	4.95%
DAR	Darling Ingredients Inc. Consumer Defensive	Added	3,324,523	+2,446,409	$205,621,747	+550.5%	4.01%
SU	Suncor Energy Inc Energy	Reduced	3,103,851	-173,653	$205,195,589	+41.1%	4.00%
VST	Vistra Corp. Utilities	Added	1,115,621	+718,299	$167,711,304	+161.6%	3.27%
BP	Bp PLC Energy	Added	3,541,397	+533,297	$166,445,659	+59.3%	3.24%
TRGP	Targa Resources Corp. Energy	Reduced	648,440	-101,137	$162,583,361	+17.6%	3.17%
BG	Bunge Global SA Consumer Defensive	Reduced	1,118,543	-14,157	$142,278,669	+41.0%	2.77%
SRE	Sempra Utilities	Reduced	1,412,788	-134,344	$137,280,609	+0.5%	2.67%
PR	Permian Resources Corp Energy	Reduced	6,148,515	-114,622	$131,086,339	+49.2%	2.55%
LNG	Cheniere Energy, Inc. Energy	Added	459,471	+110,871	$130,379,490	+92.4%	2.54%
NRG	Nrg Energy, Inc. Utilities	Added	890,906	+125,280	$130,197,002	+6.8%	2.54%
CNP	Centerpoint Energy Inc Utilities	Added	2,952,405	+55,405	$127,425,799	+14.7%	2.48%
CVE	Cenovus Energy Inc. Energy	Added	4,771,600	+2,695,009	$126,590,548	+260.3%	2.47%
ETR	Entergy Corp /De/ Utilities	Reduced	1,094,542	-702,358	$122,982,739	−26.0%	2.40%
XEL	Xcel Energy Inc Utilities	Reduced	1,531,542	-636,168	$121,665,696	−24.0%	2.37%
WMB	Williams Companies, Inc. Energy	Reduced	1,668,428	-672,572	$121,428,189	−13.7%	2.37%
DTM	DT Midstream, Inc. Energy	Reduced	835,006	-207,594	$112,450,258	−9.9%	2.19%
NVT	nVent Electric plc Industrials	Reduced	950,331	-385,243	$112,405,150	−17.5%	2.19%
HUBB	Hubbell Inc Industrials	Added	216,337	+113,417	$106,165,219	+132.3%	2.07%
PRIM	Primoris Services Corp Industrials	Reduced	674,839	-106,861	$96,528,970	−0.5%	1.88%
TTE	TotalEnergies SE Energy	NEW	949,800	NEW	$86,412,804	NEW	1.68%
CNR	Core Natural Resources, Inc. Energy	Added	726,634	+387,234	$76,100,378	+153.3%	1.48%
MPC	Marathon Petroleum Corp Energy	NEW	310,500	NEW	$75,817,890	NEW	1.48%
MTZ	Mastec Inc Industrials	Reduced	223,061	-346,079	$71,767,646	−42.0%	1.40%
COP	Conocophillips Energy	NEW	522,192	NEW	$68,929,344	NEW	1.34%
EQT	EQT Corp Energy	Added	1,069,850	+224,564	$68,085,254	+50.3%	1.33%
DINO	HF Sinclair Corp Energy	NEW	1,054,435	NEW	$65,786,199	NEW	1.28%
VG	Venture Global, Inc. Energy	NEW	4,154,300	NEW	$65,471,768	NEW	1.28%
ST	Sensata Technologies Holding plc Technology	Added	1,796,642	+892,042	$63,277,731	+110.1%	1.23%
FCX	Freeport-Mcmoran Inc Basic Materials	Reduced	998,764	-910,636	$58,707,347	−39.5%	1.14%
FTI	TechnipFMC plc Energy	Reduced	836,283	-674,845	$57,812,243	−14.1%	1.13%
IAG	Iamgold Corp Basic Materials	Reduced	2,953,542	-382,248	$55,585,660	+1.1%	1.08%
LYB	LyondellBasell Industries N.V. Basic Materials	NEW	654,687	NEW	$52,741,584	NEW	1.03%
FANG	Diamondback Energy, Inc. Energy	Reduced	266,065	-374,185	$52,624,996	−45.3%	1.03%
Q	Qnity Electronics, Inc. Technology	Reduced	433,284	-444,764	$49,992,307	−30.3%	0.97%
NUE	Nucor Corp Basic Materials	Added	293,114	+89,214	$49,565,577	+49.0%	0.97%
SOLS	Solstice Advanced Materials Inc. Basic Materials	NEW	642,451	NEW	$48,929,068	NEW	0.95%
EXE	EXPAND ENERGY Corp Energy	Reduced	431,690	-897,385	$47,390,928	−67.7%	0.92%
BKV	BKV Corp Energy	Reduced	1,646,773	-29,444	$46,965,965	+3.2%	0.91%
RAL	Ralliant Corp Technology	NEW	1,112,250	NEW	$46,258,477	NEW	0.90%
WTTR	Select Water Solutions, Inc. Energy	NEW	2,889,000	NEW	$44,201,700	NEW	0.86%
LGN	Legence Corp. Industrials	Reduced	726,336	-408,086	$41,008,930	−16.0%	0.80%
AR	ANTERO RESOURCES Corp Energy	Added	951,200	+223,500	$40,368,928	+61.0%	0.79%
CGAU	Centerra Gold Inc. Basic Materials	Added	2,264,523	+11,423	$40,285,864	+24.4%	0.78%
CMI	Cummins Inc Industrials	Reduced	73,528	-32,532	$39,559,534	−26.9%	0.77%
SDRL	SEADRILL Ltd Energy	NEW	867,338	NEW	$39,463,879	NEW	0.77%
NE	Noble Corp plc Energy	NEW	779,215	NEW	$38,236,080	NEW	0.74%
JHX	James Hardie Industries plc Basic Materials	Added	1,957,830	+1,081,230	$37,081,300	+103.9%	0.72%
FNV	FRANCO NEVADA Corp Basic Materials	NEW	144,000	NEW	$35,575,200	NEW	0.69%