GeoSphere Capital Management, LLC

MIAMI BEACH, FL · CIK 1426876 · 13F filing filed 2026-08-14

SEC-registered investment adviser since 2012 · limited liability company

Assets managed$258.4m
Staff6 · 3 in investment roles
Main clients (by assets)Private funds 100%
Private funds2 (2 hedge) · $96.4m gross assets
Websitegeospherecap.com
Form ADV · 2026-03-30SEC adviser record

Legal entityGEOSPHERE CAPITAL MANAGEMENT, LLC (US)

Kindhedge funds
Others nearbyMiami Beach, FL

As an employer

Offices in1 country
Private fundshedge 2

US visa salary filings

Filings FY20241
Median salary offered$140,000
Middle half$140,000 – $140,000
Job titles1
E-3 (Australians)1

Job title	Filings	Median	Range
Director Of OperationsMiami Beach, FL	1	$140,000

Source: US Department of Labor, Labor Condition Application disclosure data (certified, full-time, yearly equivalent). These are the salaries the employer committed to pay the visa roles it filed for, at least the prevailing wage for the job and place; they are not the pay of all its staff. Filed by: GEOSPHERE CAPITAL MANAGEMENT LLC.

$193.0m reported value +16.1% vs Q1 2026

38positions

59.4%in top 10

10 new 17 added 5 reduced 12 sold out vs Q1 2026

Options: 1 call positions ($5.3m notional), 7 put positions ($108.1m notional) – listed below, not included above.

Holdings, Q2 2026

The small lines show how much was held over the last 4 quarters (adjusted for stock splits).

#	Security	Ticker	Shares	Value	% of portfolio	Change	Shares change
1	NATIONAL ENERGY SERVICES REU SHS NESR	NESR	799,578	$23.9m12.40%	12.40%	Added +250.0k	+250,000 45.5%
2	BKV CORP COM BKV	BKV	581,689	$15.9m8.25%	8.25%	Added +40.0k	+40,000 7.4%
3	TERAWULF INC COM WULF	WULF	522,574	$12.9m6.69%	6.69%	Added +103.9k	+103,934 24.8%
4	CORE NATURAL RESOURCES INC COM SHS CNR	CNR	157,926	$12.6m6.55%	6.55%	Added +20.0k	+20,000 14.5%
5	FLUOR CORP NEW COM FLR	FLR	208,000	$10.9m5.65%	5.65%	Added +100.0k	+100,000 92.6%
6	SOLARIS ENERGY INFRAS INC COM CL A SEI	SEI	115,366	$9.3m4.81%	4.81%	Added +30.0k	+30,000 35.1%
7	VISTA ENERGY S.A.B. DE C.V. SPONSORED ADS VIST	VIST	137,473	$8.8m4.55%	4.55%	Added +12.5k	+12,473 10.0%
8	CAMECO CORP COM CCJ	CCJ	69,363	$7.1m3.66%	3.66%	Added +10.0k	+10,000 16.9%
9	HMH HLDG INC CL A HMH	HMH	375,000	$7.0m3.64%	3.64%	New
10	ARIS MNG CORP COM ARIS	ARIS	420,000	$6.3m3.25%	3.25%	Added +270.0k	+270,000 180.0%
11	KOSMOS ENERGY LTD COM KOS	KOS	2,813,788	$5.9m3.08%	3.08%	Added +775.0k	+775,000 38.0%
12	BORR DRILLING LTD SHS BORR	BORR	1,301,361	$5.4m2.79%	2.79%	Added +921.3k	+921,251 242.4%
13	DELEK US HLDGS INC NEW COM DK	DK	102,717	$5.2m2.70%	2.70%	Added +12.7k	+12,717 14.1%
14	LIBERTY ENERGY INC COM CL A LBRT	LBRT	173,768	$4.6m2.36%	2.36%	Added +40.0k	+40,000 29.9%
15	GENERAC HLDGS INC COM GNRC	GNRC	15,000	$4.4m2.28%	2.28%	New
16	VALERO ENERGY CORP COM VLO	VLO	16,000	$4.2m2.16%	2.16%	New
17	CENOVUS ENERGY INC COM CVE	CVE	161,548	$4.0m2.08%	2.08%	Unchanged
18	HAFNIA LTD SHS HAFN	HAFN	525,000	$3.5m1.81%	1.81%	Added +260.0k	+260,000 98.1%
19	INNOVEX INTERNATIONAL INC COM INVX	INVX	131,066	$3.3m1.68%	1.68%	Added +12.6k	+12,642 10.7%
20	FRANCO NEV CORP COM FNV	FNV	15,000	$3.1m1.62%	1.62%	New
21	DENISON MINES CORP COM DNN	DNN	977,106	$3.0m1.55%	1.55%	Unchanged
22	OCEANEERING INTL INC COM OII	OII	69,689	$2.8m1.46%	1.46%	Reduced -50.3k	-50,311 -41.9%
23	HALLADOR ENERGY COMPANY COM HNRG	HNRG	150,000	$2.6m1.35%	1.35%	New
24	UR-ENERGY INC COM URG	URG	1,875,507	$2.6m1.32%	1.32%	Reduced -500.0k	-500,000 -21.1%
25	BARRICK MNG CORP COM SHS B	B	68,524	$2.5m1.30%	1.30%	Unchanged
26	TORM PLC SHS CL A TRMD	TRMD	90,000	$2.3m1.22%	1.22%	New
27	CF INDS HLDGS INC COM CF	CF	20,000	$2.2m1.12%	1.12%	Reduced -3.7k	-3,667 -15.5%
28	ANTERO RESOURCES CORP COM AR	AR	60,000	$2.1m1.09%	1.09%	New
29	GOLAR LNG LTD SHS GLNG	GLNG	40,000	$2.0m1.03%	1.03%	Unchanged
30	NEXGEN ENERGY LTD COM NXE	NXE	204,656	$1.9m1.00%	1.00%	Unchanged
31	IAMGOLD CORP COM IAG	IAG	110,000	$1.7m0.90%	0.90%	Added +17.7k	+17,743 19.2%
32	NAVIGATOR HLDGS LTD SHS NVGS	NVGS	92,000	$1.7m0.89%	0.89%	Unchanged
33	BLOOM ENERGY CORP COM CL A BE	BE	5,000	$1.5m0.78%	0.78%	New
34	CENTURY ALUM CO COM CENX	CENX	32,000	$1.5m0.76%	0.76%	Reduced -50.0k	-50,000 -61.0%
35	SANTACRUZ SILVER MNG LTD COM NEW SHS SCZM	SCZM	200,000	$1.3m0.67%	0.67%	New
36	PAN AMERN SILVER CORP COM PAAS	PAAS	25,000	$1.1m0.58%	0.58%	Added +9.1k	+9,066 56.9%
37	DHT HOLDINGS INC SHS NEW DHT	DHT	60,000	$991.8k0.51%	0.51%	New
38	DORIAN LPG LTD SHS USD LPG	LPG	25,000	$869.5k0.45%	0.45%	Reduced -35.0k	-35,000 -58.3%

Sold out since Q1 2026

Security	Ticker	Shares held before	Value then
PROPETRO HLDG CORP PUMP	PUMP	324,369	$4.7m324.4k shares
METHANEX CORP MEOH	MEOH	70,000	$4.2m70.0k shares
PEABODY ENERGY CORP BTU	BTU	121,959	$4.0m122.0k shares
VANECK ETF TRUST GDX	GDX	40,000	$3.7m40.0k shares
FRONTLINE PLC FRO	FRO	80,000	$2.8m80.0k shares
FORGENT POWER SOLUTIONS INC FPS	FPS	72,854	$2.1m72.9k shares
PERMIAN RESOURCES CORP PR	PR	100,000	$2.1m100.0k shares
OKEANIS ECO TANKERS COR ECO	ECO	40,000	$2.0m40.0k shares
ORLA MNG LTD NEW OLA	OLA	124,178	$2.0m124.2k shares
PBF ENERGY INC PBF	PBF	40,000	$1.9m40.0k shares
WARRIOR MET COAL INC HCC	HCC	15,000	$1.4m15.0k shares
PERPETUA RESOURCES CORP PPTA	PPTA	40,582	$1.1m40.6k shares

Options (notional value)

Underlying	Ticker	Type	Shares controlled	Notional	Change
SPDR S&P 500 ETF TR SPY · Put	SPY	Put	50,000	$37.3m50.0k shares	Added
INVESCO QQQ TR QQQ · Put	QQQ	Put	45,000	$33.1m45.0k shares	Reduced
ISHARES TR IWM · Put	IWM	Put	90,000	$27.0m90.0k shares	New
UNITED STS OIL FD LP USO · Call	USO	Call	50,000	$5.3m50.0k shares	New
ISHARES TR EFA · Put	EFA	Put	50,000	$5.2m50.0k shares	New
ISHARES BITCOIN TRUST ETF IBIT · Put	IBIT	Put	100,000	$3.3m100.0k shares	New
MICROSTRATEGY INC MSTR · Put	MSTR	Put	12,600	$1.1m12.6k shares	New
FERMI INC FRMI · Put	FRMI	Put	100,000	$916.0k100.0k shares	New