Sourcerock Group Portfolio holdings
Sourcerock Group runs private funds that invest long and short in energy and natural resources companies, from oil and gas to renewables, materials, agriculture and power. It was founded in January 2020 by Christian Zann, its chief investment officer and a former Balyasny Asset Management partner who ran that firm's energy and industrials investments for 15 years, and Thiru Ramakrishnan, a former Point72 long/short portfolio manager who founded TVR Capital. The firm invests mainly in publicly traded North American stocks and picks ones it means to own rather than trade.
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Tidewater
TDW
|
+$77.9M |
| 2 |
Occidental Petroleum
OXY
|
+$69.5M |
| 3 |
Halliburton
HAL
|
+$31.5M |
| 4 |
California Resources
CRC
|
+$21.2M |
| 5 |
Comstock Resources
CRK
|
+$17.7M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Noble Corp
NE
|
+$138M |
| 2 |
Diamondback Energy
FANG
|
+$35.7M |
| 3 |
Chord Energy
CHRD
|
+$26.5M |
| 4 |
Century Aluminum
CENX
|
+$25.3M |
| 5 |
Patterson-UTI
PTEN
|
+$19.6M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 85.5% |
| 2 | Materials | 6.5% |
| 3 | Utilities | 5.68% |
| 4 | Miscellaneous | 1.43% |
| 5 | Technology | 0.6% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | Held Since | |
|---|---|---|---|---|---|---|---|
26
Southwest Gas
SWX
$6.75B
| $10.4M | 0.54% |
117,443
-11,226
| -9% | -$1M |
2025 Q2
4 quarters
|
|
27
Golar LNG
GLNG
$4.39B
| $10.2M | 0.53% |
205,009
-11,811
| -5% | -$624K |
2025 Q1
5 quarters
|
|
28
TC Energy
TRP
$67.2B
| $10M | 0.52% |
150,776
-14,808
| -9% | -$979K |
2025 Q2
4 quarters
|
|
29
Algoma Steel
ASTL
$593M
| $5.05M | 0.26% |
1,247,507
-58,896
| -5% | -$283K |
2026 Q1
1 quarter
|
|
30
PBF Energy
PBF
$8.41B
| $4.55M | 0.24% |
+100,000
| New | +$4.16M |
2026 Q2
0 quarters
|
|
31
NextDecade
NEXT
$1.75B
| $4.06M | 0.21% |
538,230
-52,941
| -9% | -$419K |
2025 Q4
2 quarters
|
|
32
EagleRock Land
EROK
$551M
| $3.56M | 0.19% |
+167,460
| New | +$3.62M |
2026 Q2
0 quarters
|
|
33
X-Energy Inc
XE
$3.24B
| $3.3M | 0.17% |
+179,848
| New | +$4.66M |
2026 Q2
0 quarters
|
|
34
Hallador Energy
HNRG
$512M
| $3.19M | 0.17% |
183,394
+36,425
| +25% | +$626K |
2026 Q1
1 quarter
|
|
35
Core Natural Resources Inc
CNR
$4.16B
| $2.77M | 0.14% |
34,665
-3,919
| -10% | -$347K |
2026 Q1
1 quarter
|
|
36
NET Power
NPWR
$67.2M
| $2.34M | 0.12% |
1,400,110
-104,016
| -7% | -$188K |
2025 Q4
2 quarters
|
|
37
Andersons Inc
ANDE
$1.85B
| – | – |
-258,746
| Closed | -$18.6M | – |
|
38
Compass Minerals
CMP
$968M
| – | – |
-235,198
| Closed | -$5.49M | – |
|
39
EQT Corp
EQT
$32.8B
| – | – |
-242,527
| Closed | -$15.4M | – |
|
|
40
Diamondback Energy
FANG
$50.9B
| – | – |
-180,344
| Closed | -$35.7M | – |
|
41
VanEck Gold Miners ETF
GDX
$25.2B
| – | – |
-165,000
| Closed | -$15.1M | – |
|
42
Generac Holdings
GNRC
$11.4B
| – | – |
-54,000
| Closed | -$10.5M | – |
|
43
CALL
Cheniere Energy
LNG
$63.2B
| – | – |
-200,000
| Closed | -$56.8M | – |
|
44
Murphy USA
MUSA
$9.7B
| – | – |
-24,929
| Closed | -$12.3M | – |
|
45
CALL
Oneok
OKE
$56B
| – | – |
-500,000
| Closed | -$45.2M | – |
|
46
UGI
UGI
$8.04B
| – | – |
-268,804
| Closed | -$9.8M | – |
|
47
Vistra
VST
$45.7B
| – | – |
-70,900
| Closed | -$10.7M | – |
|
Similar funds
Sourcerock Group's Q2 2026 Portfolio in Review
As of Q2 2026, Sourcerock Group held 47 positions worth $1.92B, down 22% from $2.48B the previous quarter. Its ten largest holdings account for 74% of the portfolio.
Sourcerock Group withdrew a net $98.4M in Q2 2026, closing 11 positions and reducing 18 holdings. Its most notable exit was Diamondback Energy, an estimated $35.7M position sold in full.
By sector, the portfolio is most concentrated in Energy at 86% of assets, up from 79% a quarter earlier, followed by Materials and Utilities.
Against the trend, Sourcerock Group opened a new position in Comstock Resources worth $17.3M.
- Sourcerock Group's largest Q2 2026 buy was Comstock Resources: 1,156,868 shares worth $17.3M.
- Sourcerock Group added most to Tidewater in Q2 2026, an estimated $77.9M increase.
- Sourcerock Group's biggest Q2 2026 reduction was Noble Corp, cutting an estimated $138M.
- Sourcerock Group fully exited Diamondback Energy in Q2 2026, selling an estimated $35.7M.
- Sourcerock Group's ten largest holdings make up 74% of its $1.92B portfolio in Q2 2026.
- Sourcerock Group opened 6 new positions and closed 11 in Q2 2026.
- Sourcerock Group's portfolio value fell 22% quarter-over-quarter to $1.92B.
Based on Sourcerock Group's 13F filing for Q2 2026, filed 14 Aug 2026.