GeoSphere Capital Management, LLC
GeoSphere Capital Management, LLC reported 38 US-listed holdings worth $193.0 million in its 13F for the quarter ended 30 June 2026, filed 14 August 2026. Its largest: National Energy Services Reu (12.4%), BKV Corp. (8.2%) and Terawulf Inc. (6.7%). Against the quarter before, it opened 10 positions, added to 17, trimmed 5 and sold out of 12.
The 14 largest of its 38 positions, each sized by its share of the reported holdings, coloured by the change in shares against Q1 2026.
What the fund reported holding at each quarter's end; hover a bar for the number of positions
What its reported holdings returned
Held through each quarter, the holdings it reported returned +46.6% over the 7 quarters to 30 June 2026, against +30.2% for the S&P 500.
Not the fund's own return: each 13F's holdings are kept unchanged until the next one, so trades inside a quarter, dividends, cash and fees are left out. A rough guide to how its picks have done over time.
What it did on the quarter
Its positions against its 13F for the quarter to 31 March 2026; a change under 0.1% of a position counts as held
Opened 10
- HMH Holding Inc. Class A HMH$7.0 million
- Generac Holdings Inc. GNRC$4.4 million
- Valero Energy Corp. VLO$4.2 million
- Franco Nev Corp. FNV$3.1 million
- Hallador Energy Company HNRG$2.6 million
- Torm PLC TRMD$2.3 million
- Antero Resources Corp. AR$2.1 million
- Bloom Energy Corp. BE$1.5 million
and 2 more in the table below
Added to 17
- National Energy Services Reu NESR+250,000 shares · +45%
- Fluor Corp. FLR+100,000 shares · +93%
- Aris MNG Corp. ARIS+270,000 shares · +180%
- Borr Drilling Ltd BORR+921,251 shares · +242%
- Terawulf Inc. WULF+103,934 shares · +25%
- Solaris Energy Infrastructure, Inc. SEI+30,000 shares · +35%
- Hafnia Ltd HAFN+260,000 shares · +98%
- Kosmos Energy Ltd KOS+775,000 shares · +38%
and 9 more in the table below
Trimmed 5
- Century Aluminum Co. CENX-50,000 shares · -61%
- Oceaneering International Inc. OII-50,311 shares · -42%
- Dorian LPG Ltd. LPG-35,000 shares · -58%
- Ur-Energy Inc. URG-500,000 shares · -21%
- CF Industries Holdings, Inc. CF-3,667 shares · -15%
Sold out of 12
- Propetro Hldg Corp. PUMP$4.7 million last quarter
- Methanex Corp. MEOH$4.2 million last quarter
- Peabody Energy Corp. BTU$4.0 million last quarter
- Vaneck ETF Trust GDX$3.7 million last quarter
- Frontline PLC FRO$2.8 million last quarter
- Forgent Power Solutions Inc FPS$2.1 million last quarter
- Permian Resources Corp. PR$2.1 million last quarter
- Okeanis Eco Tankers Cor ECO$2.0 million last quarter
What it holds
| Company | Shares | Value | Of its book | Change in shares |
|---|---|---|---|---|
| National Energy Services Reu NESR | 799.6K | $23.9 million | 12.40% | +250.0K |
| BKV Corp. BKV | 581.7K | $15.9 million | 8.25% | +40.0K |
| Terawulf Inc. WULF | 522.6K | $12.9 million | 6.69% | +103.9K |
| Core Natural Resources, Inc. CNR | 157.9K | $12.6 million | 6.55% | +20.0K |
| Fluor Corp. FLR | 208.0K | $10.9 million | 5.65% | +100.0K |
| Solaris Energy Infrastructure, Inc. SEI | 115.4K | $9.3 million | 4.81% | +30.0K |
| Vista Energy S.a.b. De C.V. VIST | 137.5K | $8.8 million | 4.55% | +12.5K |
| Cameco Corp. CCJ | 69.4K | $7.1 million | 3.66% | +10.0K |
| HMH Holding Inc. Class A HMH | 375.0K | $7.0 million | 3.64% | new |
| Aris MNG Corp. ARIS | 420.0K | $6.3 million | 3.25% | +270.0K |
| Kosmos Energy Ltd KOS | 2.8M | $5.9 million | 3.08% | +775.0K |
| Borr Drilling Ltd BORR | 1.3M | $5.4 million | 2.79% | +921.3K |
| Delek US Hldgs Inc. New DK | 102.7K | $5.2 million | 2.70% | +12.7K |
| Liberty Energy Inc. LBRT | 173.8K | $4.6 million | 2.36% | +40.0K |
| Generac Holdings Inc. GNRC | 15.0K | $4.4 million | 2.28% | new |
| Valero Energy Corp. VLO | 16.0K | $4.2 million | 2.16% | new |
| Cenovus Energy Inc. CVE | 161.5K | $4.0 million | 2.08% | no change |
| Hafnia Ltd HAFN | 525.0K | $3.5 million | 1.81% | +260.0K |
| Innovex International, Inc. INVX | 131.1K | $3.3 million | 1.68% | +12.6K |
| Franco Nev Corp. FNV | 15.0K | $3.1 million | 1.62% | new |
| Denison Mines Corp. DNN | 977.1K | $3.0 million | 1.55% | no change |
| Oceaneering International Inc. OII | 69.7K | $2.8 million | 1.46% | -50.3K |
| Hallador Energy Company HNRG | 150.0K | $2.6 million | 1.35% | new |
| Ur-Energy Inc. URG | 1.9M | $2.6 million | 1.32% | -500.0K |
| Barrick Mining Corp B | 68.5K | $2.5 million | 1.30% | no change |
| Torm PLC TRMD | 90.0K | $2.3 million | 1.22% | new |
| CF Industries Holdings, Inc. CF | 20.0K | $2.2 million | 1.12% | -3.7K |
| Antero Resources Corp. AR | 60.0K | $2.1 million | 1.09% | new |
| Golar LNG Ltd GLNG | 40.0K | $2.0 million | 1.03% | no change |
| Nexgen Energy Ltd NXE | 204.7K | $1.9 million | 1.00% | no change |
| Iamgold Corp. IAG | 110.0K | $1.7 million | 0.90% | +17.7K |
| Navigator Hldgs Ltd NVGS | 92.0K | $1.7 million | 0.89% | no change |
| Bloom Energy Corp. BE | 5.0K | $1.5 million | 0.78% | new |
| Century Aluminum Co. CENX | 32.0K | $1.5 million | 0.76% | -50.0K |
| Santacruz Silver MNG Ltd SCZM | 200.0K | $1.3 million | 0.67% | new |
| Pan Amern Silver Corp. PAAS | 25.0K | $1.1 million | 0.58% | +9.1K |
| DHT Holdings Inc. DHT | 60.0K | $991,800 | 0.51% | new |
| Dorian LPG Ltd. LPG | 25.0K | $869,500 | 0.45% | -35.0K |
Read more
Change is shares against its 13F for the quarter before; the 12 it sold out of are in the box above.Options it reported
| Company | Option | Shares under the options | Value of those shares |
|---|---|---|---|
| SPDR S&P 500 SPY | Puts | 50.0K | $37.3 million |
| Invesco QQQ Trust QQQ | Puts | 45.0K | $33.1 million |
| iShares Russell 2000 ETF IWM | Puts | 90.0K | $27.0 million |
| United STS Oil FD LP USO | Calls | 50.0K | $5.3 million |
| iShares Trust EFA | Puts | 50.0K | $5.2 million |
| iShares Bitcoin Trust ETF IBIT | Puts | 100.0K | $3.3 million |
| Microstrategy Inc. MSTR | Puts | 12.6K | $1.1 million |
| Fermi Inc. Com FRMI | Puts | 100.0K | $916,000 |
8 option lines. A 13F lists calls and puts by the shares they cover and what those shares were worth at the quarter's end, not what the options cost; they are not counted in the holdings above.