Encompass Capital Advisors
New York, NYfiles as Encompass Capital Advisors LLC
$2.3bn in 53 US stocks at the end of 30 June 2026. The top 10 are 48.5% of the money. It changed about 51.7% of the portfolio this quarter.
Value
$2.3bn
Stocks
53
Top 10 share
48.5%
Turnover
51.7%
What changed this quarter
New
Bought for the first time this quarter.
- Murphy OilMUR3.2% of the fund
- ProPetro HoldingPUMP2.8% of the fund
- Baker HughesBKR2.8% of the fund
- Patterson UTI EnergyPTEN2.3% of the fund
- Venture GlobalVG2.2% of the fund
- Fuelcell EnergyFCEL2.1% of the fund
- Cleveland-CliffsCLF2.1% of the fund
- Norfolk SouthernNSC2.0% of the fund
- EagleRock LandEROK1.7% of the fund
- Canadian National RailwayCNI1.7% of the fund
- MethanexMEOH1.6% of the fund
- ERockEROC1.2% of the fund
- Nabors IndustriesNBR1.1% of the fund
- Star Bulk CarriersSBLK1.0% of the fund
- Northern Oil & GasNOG1.0% of the fund
- Talos EnergyTALO1.0% of the fund
- Landstar SystemLSTR0.9% of the fund
- Westinghouse Air Brake TechnologiesWAB0.9% of the fund
- Fervo EnergyFRVO0.8% of the fund
- InnioINIO0.8% of the fund
- RXORXO0.7% of the fund
Added
Bought more of a stock they already held.
- Solaris Energy InfrastructureSEI8.7% of the fund+44%
- Occidental PetroleumOXY2.4% of the fund+152%
- Core Natural ResourcesCNR2.0% of the fund+18%
- Powell IndustriesPOWL2.0% of the fund+32%
- Vista Energy S.A.B. de C.V.VIST1.9% of the fund+30%
- Sable OffshoreSOC1.9% of the fund+7%
- SM EnergySM1.6% of the fund+108%
Cut
Sold some of their stake.
- Atlas Energy SolutionsAESI4.7% of the fund-28%
- National Energy Services ReunitedNESR4.0% of the fund-27%
- Constellium SECSTM3.3% of the fund-2%
- Old Dominion Freight LineODFL1.9% of the fund-36%
- Century AluminumCENX1.8% of the fund-42%
- ASP IsotopesASPI1.8% of the fund-5%
- CactusWHD1.6% of the fund-5%
- KirbyKEX1.6% of the fund-43%
- NextpowerNXT1.4% of the fund-42%
- MatsonMATX1.4% of the fund-15%
- Precision DrillingPDS1.1% of the fund-5%
- Forgent Power SolutionsFPS1.0% of the fund-78%
- Flowco HoldingsFLOC0.9% of the fund-20%
- Tetra TechnologiesTTI0.9% of the fund-41%
- Phillips 66PSX0.9% of the fund-59%
- Ranger Energy ServicesRNGR0.8% of the fund-19%
- Quanta ServicesPWR0.6% of the fund-67%
- Okeanis Eco TankersECO0.5% of the fund-41%
- Devon EnergyDVN0.5% of the fund-49%
- Cmb.tech NVCMBT0.2% of the fund-90%
- Navigator HoldingsNVGS0.2% of the fund-81%
Sold out
Sold their entire stake.
- Baytex EnergyBTE-100%
- Almonty IndustriesALM-100%
- Constellation EnergyCEG-100%
- Select Water SolutionsWTTR-100%
- Murphy USAMUSA-100%
- Uranium EnergyUEC-100%
- AlcoaAA-100%
- Tamboran ResourcesTBN-100%
- Permian ResourcesPR-100%
- CSXCSX-100%
- SOLV EnergyMWH-100%
- NucorNUE-100%
- PAR Pacific HoldingsPARR-100%
- Knight-Swift Transportation HoldingsKNX-100%
- Bristow GroupVTOL-100%
- Enphase EnergyENPH-100%
- LindeLIN-100%
- Darling IngredientsDAR-100%
- Viper EnergyVNOM-100%
- Rice Acquisition Corp 3KRSP-U-100%
- Steel DynamicsSTLD-100%
- Scorpio TankersSTNG-100%
- Alamos GoldAGI-100%
- USA Rare EarthUSAR-100%
Holdings
- Vista Energy S.A.B. de C.V.VIST
- Share
- 1.9%
- Value
- $45m
- Shares
- 705,720
+30%
- EagleRock LandEROK
- Share
- 1.7%
- Value
- $39m
- Shares
- 1,858,313
New
- Canadian National RailwayCNI
- Share
- 1.7%
- Value
- $39m
- Shares
- 325,000
New
- MethanexMEOH
- Share
- 1.6%
- Value
- $37m
- Shares
- 791,123
New
- ERockEROC
- Share
- 1.2%
- Value
- $28m
- Shares
- 1,900,000
New
- Precision DrillingPDS
- Share
- 1.1%
- Value
- $26m
- Shares
- 333,371
-5%
- Fervo EnergyFRVO
- Share
- 0.8%
- Value
- $18m
- Shares
- 625,070
New
- InnioINIO
- Share
- 0.8%
- Value
- $18m
- Shares
- 460,000
New
- Bimergen EnergyBESS-WS
- Share
- <0.1%
- Value
- $2m
- Shares
- 1,000,000
Held
- T1 Energy
- Share
- <0.1%
- Value
- $67,503
- Shares
- 355,465
Held
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| T1 EnergyTE | 14.3% | $331m | 34,968,169 | Held |
| Solaris Energy InfrastructureSEI | 8.7% | $203m | 2,519,604 | +44% |
| Atlas Energy SolutionsAESI | 4.7% | $109m | 6,540,322 | -28% |
| National Energy Services ReunitedNESR | 4.0% | $93m | 3,102,538 | -27% |
| Constellium SECSTM | 3.3% | $77m | 2,421,349 | -2% |
| Murphy OilMUR | 3.2% | $73m | 2,250,000 | New |
| ProPetro HoldingPUMP | 2.8% | $66m | 4,574,591 | New |
| Baker HughesBKR | 2.8% | $64m | 1,149,014 | New |
| Occidental PetroleumOXY | 2.4% | $55m | 1,138,000 | +152% |
| Patterson UTI EnergyPTEN | 2.3% | $54m | 5,921,072 | New |
| Venture GlobalVG | 2.2% | $50m | 4,500,000 | New |
| Fuelcell EnergyFCEL | 2.1% | $49m | 1,365,900 | New |
| Cleveland-CliffsCLF | 2.1% | $48m | 5,113,625 | New |
| Core Natural ResourcesCNR | 2.0% | $47m | 589,633 | +18% |
| Norfolk SouthernNSC | 2.0% | $46m | 145,000 | New |
| Powell IndustriesPOWL | 2.0% | $46m | 158,899 | +32% |
| Vista Energy S.A.B. de C.V.VIST | 1.9% | $45m | 705,720 | +30% |
| Sable OffshoreSOC | 1.9% | $45m | 14,448,741 | +7% |
| Old Dominion Freight LineODFL | 1.9% | $43m | 200,000 | -36% |
| Century AluminumCENX | 1.8% | $41m | 900,000 | -42% |
| ASP IsotopesASPI | 1.8% | $41m | 6,561,754 | -5% |
| EagleRock LandEROK | 1.7% | $39m | 1,858,313 | New |
| Canadian National RailwayCNI | 1.7% | $39m | 325,000 | New |
| SM EnergySM | 1.6% | $38m | 1,448,061 | +108% |
| CactusWHD | 1.6% | $37m | 726,675 | -5% |
| MethanexMEOH | 1.6% | $37m | 791,123 | New |
| KirbyKEX | 1.6% | $36m | 265,609 | -43% |
| NextpowerNXT | 1.4% | $33m | 280,000 | -42% |
| MatsonMATX | 1.4% | $33m | 170,724 | -15% |
| ERockEROC | 1.2% | $28m | 1,900,000 | New |
| Nabors IndustriesNBR | 1.1% | $26m | 315,000 | New |
| Precision DrillingPDS | 1.1% | $26m | 333,371 | -5% |
| Star Bulk CarriersSBLK | 1.0% | $24m | 962,500 | New |
| Forgent Power SolutionsFPS | 1.0% | $24m | 424,476 | -78% |
| Northern Oil & GasNOG | 1.0% | $23m | 1,250,000 | New |
| Talos EnergyTALO | 1.0% | $23m | 1,747,661 | New |
| Flowco HoldingsFLOC | 0.9% | $22m | 1,020,634 | -20% |
| Tetra TechnologiesTTI | 0.9% | $22m | 1,900,000 | -41% |
| Phillips 66PSX | 0.9% | $21m | 124,833 | -59% |
| Landstar SystemLSTR | 0.9% | $21m | 100,000 | New |
| Westinghouse Air Brake TechnologiesWAB | 0.9% | $20m | 75,000 | New |
| Ranger Energy ServicesRNGR | 0.8% | $20m | 1,227,978 | -19% |
| Fervo EnergyFRVO | 0.8% | $18m | 625,070 | New |
| InnioINIO | 0.8% | $18m | 460,000 | New |
| RXORXO | 0.7% | $17m | 610,755 | New |
| Quanta ServicesPWR | 0.6% | $14m | 20,000 | -67% |
| Okeanis Eco TankersECO | 0.5% | $11m | 222,197 | -41% |
| Devon EnergyDVN | 0.5% | $11m | 264,101 | -49% |
| Cmb.tech NVCMBT | 0.2% | $5m | 334,456 | -90% |
| Navigator HoldingsNVGS | 0.2% | $4m | 200,000 | -81% |
| Bimergen EnergyBESS | 0.1% | $3m | 700,000 | Held |
| Bimergen EnergyBESS-WS | <0.1% | $2m | 1,000,000 | Held |
| T1 Energy | <0.1% | $67,503 | 355,465 | Held |
Options (1)
- Ishares TRMTUM
- Type
- Put
- Value
- $493m
- Contracts
- 1,437,500
| Company | Type | Value | Contracts |
|---|---|---|---|
| Ishares TRMTUM | Put | $493m | 1,437,500 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 6.5% since 30 June 2025.
Where the money is
Energy35.1%
Industrials26.2%
Technology21.4%
Materials10.5%
Utilities3.1%
Financial services1.7%
Other2.0%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.