In its second-quarter 2026 13F filing, New York-based SIR Capital Management, an investment advisor focused on the energy sector, reported a portfolio value of $870.12 million. The filing, dated August 14, 2026, revealed a period of intense portfolio repositioning with 44 high-signal changes. This active management reflects the firm's strategy of seeking absolute returns in energy equities through a long/short, fundamental research approach.
The most significant change was a major rotation within its energy holdings. The firm established a new $77.29 million position in EXMOC, immediately making it the top holding at 8.88% of the portfolio. SIR also substantially increased its bets on Devon Energy (DVN) and Permian Resources (PR), boosting their portfolio weights to 8.31% and 6.96%, respectively. Another notable new purchase was a $32.38 million stake in Valero Energy (VLO).
This aggressive buying was funded by exiting and trimming other major energy positions. SIR Capital completely sold off its stakes in Suncor Energy (SU), Phillips 66 (PSX), and Chevron (CVX). Furthermore, it drastically reduced its holdings in ONEOK (OKE) by nearly 90% and more than halved its position in Cenovus Energy (CVE). These moves indicate a high-conviction shift in its preferred energy investments rather than a broad move out of the sector.