Merewether Investment Management, LP

CIK 0001736852 · Q1 2026

13F Equity AUM

$5.2B

+18.8% QoQ

Positions

+2 QoQ

AUM Rank

#990

Top 8%

Skill Alpha (FF)

+11.3%/yr^ns

No Clear Edge

Rank #240 · Top 3%

vs S&P +14.2%/yr (unadj.)

Quarters Tracked

~5 years

Portfolio Concentration

Top 5: 21.1%Top 10: 35.4%Top 20: 58.9%

CTRA5.0%

OVV4.9%

DAR4.0%

SU4.0%

VST3.3%

BP3.2%

TRGP3.1%

BG2.8%

SRE2.7%

PR2.5%

Others (69)64.6%

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

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Portfolio Overlap

Shared: 79Unique: 0vs 20 funds

1.1%Low

Fund positions

7,299

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.

Most Similar Funds

Top 9 benchmark funds with highest portfolio overlap (Jaccard similarity)

MORGAN STANLEY

1.5%

BANK OF AMERICA CORP /DE/

1.7%

JPMORGAN CHASE & CO

1.6%

BlackRock, Inc.

1.9%

FMR LLC

2.6%

VANGUARD CAPITAL MANAGEMENT LLC

2.2%

GEODE CAPITAL MANAGEMENT, LLC

2.1%

STATE STREET CORP

VANGUARD PORTFOLIO MANAGEMENT LLC

2.3%

Jaccard similarity per fund: shared CUSIPs / (fund A + fund B − shared). Higher values indicate more similar portfolios.

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Position Changes This Quarter

New23Increased20Decreased36Exited21

New Positions

TTE1.7%

+950K

MPC1.5%

+311K

COP1.3%

+522K

DINO1.3%

+1.1M

VG1.3%

+4.2M

LYB1.0%

+655K

SOLS0.9%

+642K

RAL0.9%

+1.1M

WTTR0.9%

+2.9M

SEADRILL LTD0.8%

+867K

Increased

CTRA5.0%

+5.2M(+252%)

CVE2.5%

+2.7M(+130%)

DAR4.0%

+2.4M(+279%)

JAMES HARDIE INDS PL…0.7%

+1.1M(+123%)

ST1.2%

+892K(+99%)

VST3.3%

+718K(+181%)

OVV4.9%

+671K(+19%)

BP3.2%

+533K(+18%)

CNR1.5%

+387K(+114%)

EQT1.3%

+225K(+27%)

Decreased

WULF0.0%

-2,128,588(-98%)

DML0.3%

-1,695,140(-29%)

GTX0.0%

-1,607,737(-95%)

DD0.1%

-1,161,336(-93%)

FCX1.1%

-910,636(-48%)

EXE0.9%

-897,385(-68%)

ETR2.4%

-702,358(-39%)

FTI1.1%

-674,845(-45%)

WMB2.4%

-672,572(-29%)

XEL2.4%

-636,168(-29%)

Exited

FSLR

-325,100

VLO

-359,131

-1,331,000

-882,200

-116,000

-3,096,600

-539,421

-1,344,000

-857,300

-188,946

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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