13F
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Sourcerock Group LLC

13F equity value
$2.4B
Positions
39
Top 10 concentration
75.0%
Quarters / total new picks
20 / 128
13F equity value over time
$0M$1B$2B2020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 20 quarters, returned +7.3% per quarter — versus +1.8% per quarter from simply owning every 13F stock. It beat that baseline in only 60.0% of quarters (excess t = 1.61, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+8.8%
t-stat
1.61
Quarterly win rate
60%
Annualized excess
+20.0%
$1 → follow vs universe
$3.19 vs $1.34
Cumulative return: $1 invested in new picks vs universe
1.00 20210331: universe 1.00920210630: universe 1.09020210930: universe 0.97820211231: universe 0.83220220331: universe 0.89420220630: universe 0.82820220930: universe 0.88920221231: universe 0.82620230331: universe 0.87020230630: universe 0.83920230930: universe 0.95220231231: universe 0.99520240331: universe 1.01720240630: universe 1.11020240930: universe 1.10020241231: universe 1.02720250331: universe 1.11920250630: universe 1.15520250930: universe 1.29820251231: universe 1.343 20210331: follow 0.70820210630: follow 0.85420210930: follow 1.00520211231: follow 1.30520220331: follow 1.26520220630: follow 1.76420220930: follow 1.64120221231: follow 1.60320230331: follow 2.03920230630: follow 1.86520230930: follow 1.76420231231: follow 2.06520240331: follow 1.81920240630: follow 2.07020240930: follow 2.05920241231: follow 1.82820250331: follow 1.98620250630: follow 2.30820250930: follow 2.77320251231: follow 3.190 0.65 2.05 3.45 20212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 39 · 2026 Q1

Ticker Value Weight QoQ
AR $353M
14.8%
TRIM
CRC $315M
13.2%
ADD
CHRD $184M
7.7%
ADD
NE $181M
7.6%
TRIM
PTEN $177M
7.4%
ADD
CENX $158M
6.6%
TRIM
TALO $125M
5.3%
TRIM
PUMP $104M
4.4%
ADD
HAL $97M
4.1%
TRIM
OKE $92M
3.9%
ADD
LNG $64M
2.7%
ADD
OVV $56M
2.4%
ADD
BTU $47M
2.0%
TRIM
PCG $43M
1.8%
HOLD
OXY $40M
1.7%
NEW
FANG $36M
1.5%
NEW
TDW $35M
1.5%
NEW
KRSP $27M
1.1%
HOLD
XEL $24M
1.0%
HOLD
LNT $21M
0.9%
HOLD

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

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Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.