Merewether Investment Management, LP

CIK 0001736852 · Q2 2026

13F Equity AUM

$5.3B

+2.8% QoQ

Positions

+2 QoQ

AUM Rank

#1,475

Top 12%

Skill Alpha (FF)

+15.4%/yr^ns

No Clear Edge

Rank #219 · Top 3%

vs S&P +17.7%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 20.2%Top 10: 34.3%Top 20: 54.5%

DVN5.1%

OVV4.3%

ETR3.9%

VST3.8%

DAR3.1%

PSX3.1%

WMB3.1%

SU2.9%

DTM2.6%

TRGP2.5%

Others (71)65.7%

HHI (Herfindahl-Hirschman Index) measures portfolio concentration. Low (<1500) = diversified, Moderate (1500-2500), High (>2500) = concentrated bets.

Sector Allocation

Energy46.6%

Utilities16.3%

Industrials11.4%

Basic Materials8.5%

Consumer Defensive5.9%

Unclassified5.1%

Technology3.3%

Other2.9%

Portfolio weight by GICS sector based on latest 13F filing. Sectors below 2% are grouped as “Other.”

Position Sizing

Positions: 81Median: 0.99%Avg: 1.23%

0–0.5%

21(5.0%)

0.5–1%

20(14.8%)

1–3%

33(53.9%)

3–5%

6(21.2%)

5%+

1(5.1%)

Count of positions per weight bucket — (%) = combined portfolio weight

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Portfolio Overlap

Shared: 0Unique: 81vs 20 funds

0%Low

Fund positions

Consensus CUSIPs

Jaccard similarity of this fund’s portfolio vs the consensus of top 20 funds by AUM. Low (<15%) = contrarian, Moderate (15-40%), High (>40%) = follows the crowd.

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Position Changes This Quarter

New23Increased34Decreased24Exited21

New Positions

DVN5.1%

+6.6M

LNT2.0%

+1.4M

HAL1.7%

+2.7M

WCC1.5%

+233K

MADISON AIR SOLUTION…1.4%

+1.9M

INNIO NV1.3%

+1.8M

TS1.2%

+1.1M

TLN1.1%

+155K

WFRD1.1%

+699K

BWA1.0%

+802K

Increased

PSX3.1%

+885K(+1075%)

ETR3.9%

+693K(+63%)

WMB3.1%

+515K(+31%)

EQT1.6%

+507K(+47%)

FTI1.6%

+460K(+55%)

RAL2.1%

+414K(+37%)

MT0.4%

+363K(+1289%)

ET0.3%

+320K(+62%)

CRH.L1.3%

+289K(+85%)

SOLS1.5%

+268K(+42%)

Decreased

DML0.1%

-2,260,008(-54%)

BP1.3%

-1,699,390(-48%)

XEL1.0%

-876,549(-57%)

LBRT0.1%

-842,176(-82%)

FCX0.4%

-624,478(-63%)

DINO0.7%

-549,590(-52%)

ST1.2%

-478,847(-27%)

PRIM0.4%

-462,926(-69%)

CG0.6%

-391,393(-17%)

DAR3.1%

-321,948(-10%)

Exited

-7,301,691

-1,412,788

-890,906

-216,337

-4,154,300

FANG

-266,065

LYB

-654,687

EXE

-431,690

-951,200

CMI

-73,528

Quarter-over-quarter changes compared to prior 13F filing. New = first appearance; Exited = no longer held.

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Holdings

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