$2.3B in shares, plus $492.8M option notional (calls and puts, not money invested)
$3.3B to $2.8B. Includes price moves and buying or selling; not the fund's return.
Sector mix of the disclosed holdings
by disclosed value- Energy44.2%
- Industrials28.7%
- Basic Materials8.7%
- Utilities0.8%
- Options and unclassified (not a sector)17.6%
The grey slice is mostly calls and puts (17.5% of the disclosed value), which get no sector because a put is a position against a company.
Largest holdings
50 largest of 54 positions| Holding | Type | Value | Shares | % of 13F value |
|---|---|---|---|---|
| MTUMiShares MSCI USA Momentum Factor ETF | Put | $492.8M | 1,437,500 | 17.5% |
| TET1 Energy | Shares | $331.5M | 34,968,169 | 11.8% |
| SEISolaris Energy Infrastructure | Shares | $202.7M | 2,519,604 | 7.2% |
| AESIAtlas Energy Solutions | Shares | $108.6M | 6,540,322 | 3.9% |
| NESRNational Energy Services Reunited | Shares | $92.9M | 3,102,538 | 3.3% |
| CSTMConstellium SE | Shares | $77.2M | 2,421,349 | 2.7% |
| MURMurphy Oil | Shares | $73.3M | 2,250,000 | 2.6% |
| PUMPPropetro Hldg | Shares | $65.6M | 4,574,591 | 2.3% |
| BKRBaker Hughes | Shares | $63.8M | 1,149,014 | 2.3% |
| OXYOccidental Petroleum | Shares | $55.3M | 1,138,000 | 2.0% |
| PTENPatterson-UTI Energy | Shares | $54.4M | 5,921,072 | 1.9% |
| VGVenture Global | Shares | $50.1M | 4,500,000 | 1.8% |
| FCELFuelCell Energy | Shares | $49.2M | 1,365,900 | 1.7% |
| CLFCleveland-Cliffs | Shares | $48.0M | 5,113,625 | 1.7% |
| CNRCore Natural Resources | Shares | $47.2M | 589,633 | 1.7% |
| NSCNorfolk Southern | Shares | $45.6M | 145,000 | 1.6% |
| POWLPowell Industries | Shares | $45.5M | 158,899 | 1.6% |
| VISTVista Energy S.A.B. De C.V. | Shares | $45.0M | 705,720 | 1.6% |
| SOCSable Offshore | Shares | $44.5M | 14,448,741 | 1.6% |
| ODFLOld Dominion Freight Line | Shares | $43.3M | 200,000 | 1.5% |
| CENXCentury Aluminum | Shares | $41.4M | 900,000 | 1.5% |
| ASPIASP Isotopes | Shares | $40.8M | 6,561,754 | 1.5% |
| EROKEagleRock Land LLC | Shares | $39.5M | 1,858,313 | 1.4% |
| CNICanadian National Railway | Shares | $38.7M | 325,000 | 1.4% |
| SMSM Energy | Shares | $37.8M | 1,448,061 | 1.3% |
| WHDCactus | Shares | $37.2M | 726,675 | 1.3% |
| MEOHMethanex | Shares | $36.5M | 791,123 | 1.3% |
| KEXKirby | Shares | $36.1M | 265,609 | 1.3% |
| NXTNextpower | Shares | $33.4M | 280,000 | 1.2% |
| MATXMatson | Shares | $32.8M | 170,724 | 1.2% |
| EROCERock | Shares | $27.6M | 1,900,000 | 1.0% |
| NBRNabors Industries | Shares | $26.5M | 315,000 | 0.9% |
| PDSPrecision Drilling | Shares | $25.6M | 333,371 | 0.9% |
| SBLKStar Bulk Carriers | Shares | $24.0M | 962,500 | 0.9% |
| FPSForgent Power Solutions | Shares | $23.7M | 424,476 | 0.8% |
| NOGNorthern Oil and Gas | Shares | $22.7M | 1,250,000 | 0.8% |
| TALOTalos Energy | Shares | $22.6M | 1,747,661 | 0.8% |
| FLOCFlowco Holdings | Shares | $21.8M | 1,020,634 | 0.8% |
| TTITETRA Technologies | Shares | $21.5M | 1,900,000 | 0.8% |
| PSXPhillips 66 | Shares | $21.1M | 124,833 | 0.8% |
| LSTRLandstar System | Shares | $20.7M | 100,000 | 0.7% |
| WABWestinghouse Air Brake Technologies | Shares | $20.2M | 75,000 | 0.7% |
| RNGRRanger Energy Services | Shares | $19.7M | 1,227,978 | 0.7% |
| FRVOFervo Energy | Shares | $18.3M | 625,070 | 0.6% |
| INIOInnio | Shares | $18.2M | 460,000 | 0.6% |
| RXO | Shares | $16.9M | 610,755 | 0.6% |
| PWRQuanta Services | Shares | $14.4M | 20,000 | 0.5% |
| ECOOkeanis Eco Tankers | Shares | $11.1M | 222,197 | 0.4% |
| DVNDevon Energy | Shares | $10.9M | 264,101 | 0.4% |
| CMBTCmb.Tech | Shares | $4.7M | 334,456 | 0.2% |
% of 13F value is the position's value against the whole disclosed 13F value, so the rows shown here do not sum to 100% unless every position is listed. Calls and puts are shown as filed: most filers give Value as the notional value of the shares underneath, not money invested, but some give the premium paid, and some count contracts rather than shares.
What Encompass Capital Advisors bought and sold in Q2 2026
15 largest moves| Holding | Move | Share change | Est. amount moved | Value after |
|---|---|---|---|---|
| MTUMiShares MSCI USA Momentum Factor ETF | New put | new | +$492.8M | $492.8M |
| LNGCheniere Energy | Exited put | -100% | -$441.6M | $0 |
| XOPState Street SPDR S&P Oil & Gas Exploration… | Exited put | -100% | -$252.7M | $0 |
| LYBLyondellBasell Industries | Exited put | -100% | -$102.6M | $0 |
| BTEGFBaytex Energy | Exited | -100% | -$89.7M | $0 |
| FPSForgent Power Solutions | Trimmed | -78.0% | -$83.9M | $23.7M |
| MURMurphy Oil | New | new | +$73.3M | $73.3M |
| PUMPPropetro Hldg | New | new | +$65.6M | $65.6M |
| BKRBaker Hughes | New | new | +$63.8M | $63.8M |
| ALMAlmonty Industries | Exited | -100% | -$62.3M | $0 |
| SEISolaris Energy Infrastructure | Added | +44.0% | +$61.9M | $202.7M |
| CEGConstellation Energy | Exited | -100% | -$55.9M | $0 |
| PTENPatterson-UTI Energy | New | new | +$54.4M | $54.4M |
| SCCOSouthern Copper | Exited put | -100% | -$53.0M | $0 |
| VGVenture Global | New | new | +$50.1M | $50.1M |
A change is this filing measured against the one before it. Est. amount moved is the shares added or sold, priced at the Jun 30, 2026 close. An estimate: a 13F gives no trade prices or dates. For a sold-out position, its value at the previous quarter end. A put gains when the stock falls; a call gains when it rises. Option values are as filed, which for most filers is the notional value of the shares underneath.
Questions
What does Encompass Capital Advisors hold?
Encompass Capital Advisors disclosed 54 positions worth $2.8B in the Q2 2026 13F filing, $492.8M of it option notional counted at the value of the shares underneath. The largest is a put on MTUM at 17.5% of the disclosed value. A 13F lists US-listed stock and options on it; short sales and cash are not in it.
What did Encompass Capital Advisors buy and sell last quarter?
Comparing the Q2 2026 filing with the quarter before, the largest moves were opening a put on MTUM, selling out of a put on LNG, selling out of a put on XOP and selling out of a put on LYB. Changes are measured against the previous filing, not against trades, because a 13F does not disclose trades.
How current is this?
This is the Q2 2026 filing, covering positions held on Jun 30, 2026 and filed with the SEC on Aug 14, 2026. A 13F is due 45 days after the quarter ends, so the most recent filing is always at least six weeks behind the market, and the manager may have changed the book since.
How to read a 13F
WHAT THE FILING COVERS
Positions are as disclosed to the SEC on Form 13F and are not investment advice. How this data is sourced, and what it cannot tell you, is on the methodology page. How the filing itself works is explained in our guide to Form 13F.
Checked for newer filings on Oct 26, 2026.
