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Asset Manager ← All Institutions

Merewether Investment Management, LP

Q4 2025 · Filed 2026-02-17
Market Value
$4.2B
+3.5%
Holdings
93
+7
New Purchases
25
Added To
17
Closed
18
Reduced
30
Top 10 Concentration
34.0%
Turnover
46.2%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
WMB 3.33% 0.00% +3.33% $141M
BP 2.47% 0.00% +2.47% $104M
PRIM 2.29% 0.00% +2.29% $97M
FCX 2.29% 0.00% +2.29% $97M
Q 1.70% 0.00% +1.70% $72M
OVV 3.35% 1.73% +1.62% $142M
LNG 1.60% 0.24% +1.36% $68M
CTRA 1.29% 0.00% +1.29% $55M
GM 1.22% 0.00% +1.22% $51M
AA 1.11% 0.03% +1.08% $47M
VST 1.52% 0.45% +1.06% $64M
CLF 0.97% 0.00% +0.97% $41M
FIX 1.02% 0.08% +0.94% $43M
CTRI 0.80% 0.00% +0.80% $34M
NUE 0.79% 0.00% +0.79% $33M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
NI 0.00% 3.11% -3.11% $0
BKR 0.00% 2.58% -2.58% $0
EQT 1.07% 3.64% -2.57% $45M
TLN 0.21% 2.51% -2.30% $9M
CVE 0.83% 2.97% -2.14% $35M
KMI 0.00% 1.92% -1.92% $0
MTZ 2.93% 4.52% -1.59% $124M
VLO 1.38% 2.64% -1.26% $58M
DD 1.19% 2.44% -1.25% $50M
RIOT 0.00% 1.17% -1.17% $0
SRE 3.23% 4.29% -1.06% $137M
HUBB 1.08% 2.08% -1.00% $46M
ETR 3.93% 4.90% -0.97% $166M
CMI 1.28% 2.23% -0.95% $54M
CVX 0.00% 0.91% -0.91% $0

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 3 $124M 2.9%
Large Cap 53 $3.4B 79.8%
Mid Cap 33 $693M 16.4%
Small Cap 4 $37M 0.9%

Portfolio Analytics

Avg Market Cap
$39.9B
Median Market Cap
$16.5B
Avg P/E
34.4
Median P/E
24.8
Avg Dividend Yield
0.01%
Avg Beta
1.12
# Stocks
92
# ETFs / Funds
1

Top Holdings (93 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 ETR 3.93% 1,796,900 $166M $92.43 -$34M -351,100 -16.4%
2 XEL 3.79% 2,167,710 $160M $73.86 $18M +403,800 +22.9%
3 EXE 3.47% 1,329,075 $147M $110.36 -$15M -188,400 -12.4%
4 SU 3.44% 3,277,504 $145M $44.39 -$9M -403,800 -11.0%
5 OVV 3.35% 3,612,697 $142M $39.19 $71M +1,865,600 +106.8%
6 WMB 3.33% 2,341,000 $141M $60.11 +2,341,000 NEW
7 TRGP 3.27% 749,577 $138M $184.50 $5M -48,600 -6.1%
8 SRE 3.23% 1,547,132 $137M $88.29 -$39M -402,300 -20.6%
9 NVT 3.22% 1,335,574 $136M $101.97 -$31M -364,100 -21.4%
10 DTM 2.95% 1,042,600 $125M $119.68 $12M +42,000 +4.2%
11 MTZ 2.93% 569,140 $124M $217.37 -$61M -298,100 -34.4%
12 NRG 2.88% 765,626 $122M $159.24 $36M +234,900 +44.3%
13 CNP 2.63% 2,897,000 $111M $38.34 $14M +403,500 +16.2%
14 BP 2.47% 3,008,100 $104M $34.73 +3,008,100 NEW
15 PRIM 2.29% 781,700 $97M $124.14 +781,700 NEW
16 FCX 2.29% 1,909,400 $97M $50.79 +1,909,400 NEW
17 FANG 2.28% 640,250 $96M $150.33 $23M +131,500 +25.9%
18 PR 2.08% 6,263,137 $88M $14.03 -$25M -2,573,000 -29.1%
19 FSLR 2.01% 325,100 $85M $261.23 -$8M -95,600 -22.7%
20 XOM 2.00% 701,493 $84M $120.34 $6M +7,600 +1.1%
21 Q 1.70% 878,048 $72M $81.65 +878,048 NEW
22 LNG 1.60% 348,600 $68M $194.39 $58M +306,000 +718.3%
23 FTI 1.59% 1,511,128 $67M $44.56 $6M -33,007 -2.1%
24 VST 1.52% 397,322 $64M $161.33 $46M +303,300 +322.6%
25 VLO 1.38% 359,131 $58M $162.79 -$50M -275,600 -43.4%
26 B 1.37% 1,331,000 $58M $43.55 -$29M -1,316,300 -49.7%
27 IAG 1.30% 3,335,790 $55M $16.49 $11M -96,800 -2.8%
28 CTRA 1.29% 2,073,500 $55M $26.32 +2,073,500 NEW
29 CMI 1.28% 106,060 $54M $510.45 -$37M -109,740 -50.9%
30 GM 1.22% 633,300 $51M $81.32 +633,300 NEW
31 DD 1.19% 1,246,796 $50M $40.20 -$50M -32,904 -2.6%
32 LGN 1.15% 1,134,422 $49M $43.04 $9M -172,430 -13.2%
33 AA 1.11% 882,200 $47M $53.14 $46M +844,700 +2252.5%
34 HUBB 1.08% 102,920 $46M $444.11 -$39M -95,080 -48.0%
35 BKV 1.08% 1,676,217 $46M $27.15 $25M +799,700 +91.2%
36 EQT 1.07% 845,286 $45M $53.60 -$104M -1,889,800 -69.1%
37 FIX 1.02% 46,349 $43M $933.29 $40M +42,180 +1011.8%
38 AYI 0.99% 116,000 $42M $360.04 -$9M -31,100 -21.1%
39 CLF 0.97% 3,096,600 $41M $13.28 +3,096,600 NEW
40 ATO 0.94% 238,236 $40M $167.63 $27M +165,300 +226.6%
41 SHEL 0.94% 539,421 $40M $73.48 -$14M -211,400 -28.2%
42 CVE 0.83% 2,076,591 $35M $16.92 -$86M -5,061,631 -70.9%
43 CTRI 0.80% 1,344,000 $34M $25.25 +1,344,000 NEW
44 NUE 0.79% 203,900 $33M $163.11 +203,900 NEW
45 SLB 0.78% 857,300 $33M $38.38 $14M +314,100 +57.8%
46 CGAU 0.77% 2,253,100 $32M $14.40 +2,253,100 NEW
47 DAR 0.75% 878,114 $32M $36.00 $31M +857,500 +4159.8%
48 ST 0.71% 904,600 $30M $33.29 +904,600 NEW
49 CNR 0.71% 339,400 $30M $88.51 +339,400 NEW
50 GTX 0.69% 1,686,100 $29M $17.43 -$11M -1,294,100 -43.4%
51 WLK 0.68% 388,100 $29M $73.94 $8M +119,700 +44.6%
52 ARIS 0.65% 1,694,800 $27M $16.22 $9M -218,600 -11.4%
53 PARR 0.61% 734,400 $26M $35.14 +734,400 NEW
54 GNRC 0.61% 188,946 $26M $136.37 $7M +75,147 +66.0%
55 AR 0.59% 727,700 $25M $34.46 +727,700 NEW
56 WULF 0.59% 2,164,500 $25M $11.49 +2,164,500 NEW
57 WHD 0.55% 504,900 $23M $45.68 +504,900 NEW
58 LECO 0.54% 94,800 $23M $239.64 +94,800 NEW
59 TGB 0.49% 3,672,900 $21M $5.66 +3,672,900 NEW
60 HUT.TO 0.43% 393,600 $18M $45.94 +393,600 NEW
61 SLI 0.43% 4,037,000 $18M $4.47 +4,037,000 NEW
62 LBRT 0.42% 951,092 $18M $18.46 +951,092 NEW
63 WBI 0.41% 870,400 $17M $20.01 -$5M
64 STNG 0.39% 323,861 $16M $50.83 -$22M -362,500 -52.8%
65 DNN 0.37% 5,903,300 $16M $2.66 -$3M -916,600 -13.4%
66 EGO 0.33% 393,700 $14M $35.92 +393,700 NEW
67 KEX 0.32% 122,300 $13M $110.18 +122,300 NEW
68 VNOM 0.29% 318,082 $12M $38.63 -$14M -379,500 -54.4%
69 STLD 0.21% 53,400 $9M $169.45 -$17M -136,400 -71.9%
70 TLN 0.21% 23,908 $9M $374.84 -$94M -217,251 -90.1%
71 CCJ 0.19% 88,854 $8M $91.49 $678K
72 NXT 0.18% 88,975 $8M $87.11 -$13M -191,900 -68.3%
73 TBN 0.05% 70,000 $2M $27.23 +70,000 NEW
74 ALV 0.02% 6,400 $760K $118.70 -$31K
75 VC 0.01% 5,200 $495K $95.10 -$8M -65,500 -92.6%
76 MOS —% -$22M -634,800 -100.0% SOLD
77 DINO —% -$36M -682,400 -100.0% SOLD
78 ITRI —% -$632K -5,075 -100.0% SOLD
79 HCC —% -$7M -108,569 -100.0% SOLD
80 FRO —% -$14M -626,500 -100.0% SOLD
81 BKR —% -$106M -2,165,846 -100.0% SOLD
82 CDE —% -$14M -725,600 -100.0% SOLD
83 CVX —% -$37M -240,000 -100.0% SOLD
84 CNQ —% -$5M -168,463 -100.0% SOLD
85 CMC —% -$27M -468,700 -100.0% SOLD
86 SOC —% -$2M -138,800 -100.0% SOLD
87 KMI —% -$78M -2,765,800 -100.0% SOLD
88 NI —% -$127M -2,934,594 -100.0% SOLD
89 ECG —% -$25M -289,700 -100.0% SOLD
90 RIOT —% -$48M -2,510,000 -100.0% SOLD
91 BTDR —% -$10M -601,700 -100.0% SOLD
92 BTU —% -$15M -571,300 -100.0% SOLD
93 COPX —% -$23M -379,500 -100.0% SOLD

New Positions

SymbolValue% Port
WMB $141M 3.33%
BP $104M 2.47%
PRIM $97M 2.29%
FCX $97M 2.29%
Q $72M 1.70%
CTRA $55M 1.29%
GM $51M 1.22%
CLF $41M 0.97%
CTRI $34M 0.80%
NUE $33M 0.79%
CGAU $32M 0.77%
ST $30M 0.71%
CNR $30M 0.71%
PARR $26M 0.61%
AR $25M 0.59%

Sold Out Positions

SymbolValue% Port
CVX —%
CDE —%
DINO —%
ECG —%
CMC —%
FRO —%
CNQ —%
KMI —%
NI —%
BTU —%
MOS —%
SOC —%
HCC —%
BTDR —%
ITRI —%
View SEC EDGAR Filings for Merewether Investment Management, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms