Quarterly 13F snapshot: US-listed longs only, no performance figures — 13F data cannot support them.
Reported portfolio value by quarter (15 quarters reported)
$119M in Q4 2022 → $528M now. Hover for any quarter.
As reported for the quarter ended June 30, 2026. Activity is the change in share count since the prior quarter's filing.
| Holding | % of portfolio | Activity | Shares | Value |
|---|---|---|---|---|
| Patterson-uti Energy Inc | 10.2% | Added 34% | 5,852,934 | $53.7M |
| Sm Energy Company | 10.1% | Added 59% | 2,040,529 | $53.3M |
| Baytex Energy Corp | 9.7% | Added 38% | 12,771,506 | $51.1M |
| Seadrill Ltd | 9.4% | Added 46% | 1,305,349 | $49.4M |
| Antero Resources Corp | 8.9% | Added 47% | 1,336,461 | $47M |
| EG Expro Group Holdings Nv | 7.9% | Added 91% | 2,826,437 | $41.7M |
| Select Water Solutions Inc | 7.6% | Trimmed 22% | 2,015,969 | $40.3M |
| Permian Resources Corp | 7.4% | Trimmed 14% | 2,117,933 | $39M |
| Atlas Energy Solutions Inc | 6.6% | New | 2,104,940 | $35M |
| Nrg Energy Inc | 6.0% | Added 21% | 215,518 | $31.5M |
| WI Weatherford Intl PLC | 5.7% | Trimmed 35% | 366,929 | $29.9M |
| Mastec Inc | 5.5% | Trimmed 31% | 70,080 | $29.2M |
| Talos Energy Inc | 5.1% | Trimmed 31% | 2,094,452 | $27M |
What changed each quarter, from the filings' own share counts. Largest moves first; most recent 8 quarters.
quarter ended June 30, 2026 · filed August 14, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ovintiv Inc | Exited | −775,200 | −$46M | — |
| Cactus Inc | Exited | −959,218 | −$45.4M | — |
| Atlas Energy Solutions Inc | New | +2,104,940 | +$35M | 6.6% |
| EG Expro Group Holdings Nv | Added | +1,345,463 | +$19.9M | 7.9% |
| Sm Energy Company | Added | +755,229 | +$19.7M | 10.1% |
| WI Weatherford Intl PLC | Trimmed | −199,080 | −$16.2M | 5.7% |
| Seadrill Ltd | Added | +408,410 | +$15.4M | 9.4% |
| Antero Resources Corp | Added | +430,133 | +$15.1M | 8.9% |
| Baytex Energy Corp | Added | +3,526,048 | +$14.1M | 9.7% |
| Patterson-uti Energy Inc | Added | +1,473,276 | +$13.5M | 10.2% |
Showing the 10 largest of 15 changes.
quarter ended March 31, 2026 · filed May 15, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Patterson-uti Energy Inc | New | +4,379,658 | +$47.4M | 8.2% |
| Sm Energy Company | New | +1,285,300 | +$40.1M | 6.9% |
| Technipfmc PLC | Exited | −737,816 | −$32.9M | — |
| Mastec Inc | Trimmed | −100,274 | −$32.3M | 5.7% |
| Ovintiv Inc | Trimmed | −528,059 | −$31.3M | 8.0% |
| Liberty Energy Inc | Exited | −1,518,300 | −$28M | — |
| Nrg Energy Inc | New | +178,722 | +$26.1M | 4.5% |
| Antero Resources Corp | Trimmed | −597,623 | −$25.4M | 6.7% |
| KG Kodiak Gas Svcs Inc | Exited | −576,000 | −$21.5M | — |
| Cactus Inc | Trimmed | −304,655 | −$14.4M | 7.9% |
Showing the 10 largest of 24 changes.
quarter ended December 31, 2025 · filed February 17, 2026
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Cactus Inc | New | +1,263,873 | +$57.7M | 10.3% |
| Antero Resources Corp | New | +1,503,951 | +$51.8M | 9.3% |
| Viper Energy Inc | Trimmed | −1,273,209 | −$49.2M | 1.9% |
| Baker Hughes Company | Exited | −839,177 | −$40.9M | — |
| Mastec Inc | Added | +145,464 | +$31.6M | 7.9% |
| Liberty Energy Inc | New | +1,518,300 | +$28M | 5.0% |
| KG Kodiak Gas Svcs Inc | New | +576,000 | +$21.5M | 3.9% |
| EG Expro Group Holdings Nv | Trimmed | −1,494,267 | −$19.9M | 4.0% |
| Permian Resources Corp | Trimmed | −1,021,429 | −$14.3M | 7.1% |
| Technipfmc PLC | Trimmed | −301,065 | −$13.4M | 5.9% |
Showing the 10 largest of 21 changes.
quarter ended September 30, 2025 · filed November 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Viper Energy Inc | New | +1,544,132 | +$59M | 12.3% |
| Eqt Corp | Exited | −814,912 | −$47.5M | — |
| Baker Hughes Company | New | +839,177 | +$40.9M | 8.5% |
| Vista Energy Sab De Cv | Exited | −739,024 | −$35.3M | — |
| RR Range Res Corp | Exited | −830,651 | −$33.8M | — |
| Expand Energy Corporation | Exited | −261,524 | −$30.6M | — |
| QS Quanta Svcs Inc | Exited | −68,615 | −$25.9M | — |
| Baytex Energy Corp | New | +11,037,772 | +$25.8M | 5.4% |
| Talos Energy Inc | Added | +2,622,614 | +$25.2M | 7.0% |
| Seadrill Ltd | New | +519,733 | +$15.7M | 3.3% |
Showing the 10 largest of 24 changes.
quarter ended June 30, 2025 · filed August 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| MR Matador Res Co | Exited | −969,377 | −$49.5M | — |
| WI Weatherford Intl PLC | New | +900,351 | +$45.3M | 9.7% |
| DE Devon Energy Corp New | Exited | −1,062,546 | −$39.7M | — |
| Expand Energy Corporation | New | +261,524 | +$30.6M | 6.6% |
| Ovintiv Inc | Added | +710,598 | +$27M | 12.6% |
| Patterson-uti Energy Inc | Exited | −2,395,939 | −$19.7M | — |
| EG Expro Group Holdings Nv | Added | +2,023,928 | +$17.4M | 4.2% |
| Select Water Solutions Inc | Added | +1,881,352 | +$16.3M | 8.1% |
| Helmerich & Payne Inc | Exited | −587,968 | −$15.4M | — |
| Technipfmc PLC | Trimmed | −243,855 | −$8.4M | 7.6% |
Showing the 10 largest of 22 changes.
quarter ended March 31, 2025 · filed May 15, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Antero Resources Corp | Exited | −1,270,317 | −$44.5M | — |
| DE Devon Energy Corp New | New | +1,062,546 | +$39.7M | 9.0% |
| RR Range Res Corp | New | +985,364 | +$39.3M | 8.9% |
| S2 Seadrill 2021 Ltd | Exited | −892,061 | −$34.7M | — |
| Ge Vernova Inc | Exited | −78,640 | −$25.9M | — |
| Ovintiv Inc | Trimmed | −504,692 | −$21.6M | 8.0% |
| QS Quanta Svcs Inc | New | +83,184 | +$21.1M | 4.8% |
| IN Infinity Nat Res Inc | New | +1,121,927 | +$21M | 4.8% |
| Patterson-uti Energy Inc | New | +2,395,939 | +$19.7M | 4.5% |
| Helmerich & Payne Inc | New | +587,968 | +$15.4M | 3.5% |
Showing the 10 largest of 21 changes.
quarter ended December 31, 2024 · filed February 14, 2025
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Ovintiv Inc | New | +1,335,460 | +$54.1M | 13.0% |
| Antero Resources Corp | New | +1,270,317 | +$44.5M | 10.7% |
| MR Matador Res Co | New | +673,546 | +$37.9M | 9.1% |
| Veren Inc | Exited | −4,703,508 | −$29M | — |
| EG Expro Group Holdings Nv | Exited | −1,589,258 | −$27.3M | — |
| Permian Resources Corp | Added | +1,147,856 | +$16.5M | 12.9% |
| Fluence Energy Inc | New | +951,988 | +$15.1M | 3.6% |
| HE Helix Energy Solutions Grp I | Exited | −1,303,420 | −$14.5M | — |
| Enerflex Ltd | Exited | −1,503,520 | −$8.96M | — |
| Ge Vernova Inc | Added | +20,077 | +$6.6M | 6.2% |
Showing the 10 largest of 18 changes.
quarter ended September 30, 2024 · filed November 14, 2024
| Company | Action | Shares changed | Value of change | % of portfolio |
|---|---|---|---|---|
| Eqt Corp | New | +927,047 | +$34M | 12.1% |
| Civitas Resources Inc | Exited | −443,167 | −$30.6M | — |
| S2 Seadrill 2021 Ltd | New | +730,179 | +$29M | 10.3% |
| Diamond Offshore Drilling Inc | Exited | −1,429,036 | −$22.1M | — |
| S Schlumberger Ltd | Exited | −448,134 | −$21.1M | — |
| Vista Energy Sab De Cv | Added | +398,841 | +$17.6M | 9.4% |
| Patterson-uti Energy Inc | Exited | −1,522,002 | −$15.8M | — |
| HE Helix Energy Solutions Grp I | New | +1,303,420 | +$14.5M | 5.2% |
| Antero Resources Corp | Exited | −350,308 | −$11.4M | — |
| Enerflex Ltd | New | +1,503,520 | +$8.96M | 3.2% |
Showing the 10 largest of 19 changes.
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