Webs Creek Capital Management LP

Hedge Fund • Long/Short

Webs Creek Capital Management LP is a Long/Short Hedge Fund based in Dallas, TX led by Michael Stephen Thomas, reporting $1.0B in AUM as of Q3 2025 with 91% Energy concentration and 87% concentrated in top 10 holdings.

FounderMichael Stephen Thomas

Portfolio Value: $494.4M
Positions: 19
Top Holding: OVV at 12.15%
Last Reported: Q3 2025

Address3131 Turtle Creek Blvd., Suite 880, Dallas, TX, 75219, United States

Top Holdings

Largest long holdings in Webs Creek Capital Management LP's portfolio (86.8% of total portfolio)

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Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Ovintiv OVV	Oil & Gas Exploration & Production Energy	$60.1M	12.15%	-$2.2M Sold	0.58% 1.5M shares	Q4 2024 Held for 11 months
2 Viper Energy VNOM	Oil & Gas Midstream Energy	$59.0M	11.94%	+$59.0M New	0.92% 1.5M shares	Q3 2025 Held for 2 months
3 Permian Resources PR	Oil & Gas Exploration & Production Energy	$49.5M	10.01%	-$870.6K Sold	0.52% 3.9M shares	Q4 2022 Held for 2y 11m
4 Weatherford International WFRD	Oil & Gas Equipment & Services Energy	$47.8M	9.67%	-$13.8M Sold	0.97% 698.5K shares	Q2 2025 Held for 5 months
5 TechnipFMC FTI	Oil & Gas Equipment & Services Energy	$41.0M	8.29%	+$268.9K Bought	0.25% 1.0M shares	Q4 2022 Held for 2y 11m
6 Baker Hughes BKR	Oil & Gas Equipment & Services Energy	$40.9M	8.27%	+$40.9M New	0.09% 839.2K shares	Q3 2025 Held for 2 months
7 Expro Group Holdings XPRO	Oil & Gas Equipment & Services Energy	$37.6M	7.61%	+$10.6M Bought	2.74% 3.2M shares	Q1 2023 Held for 2y 8m
8 Talos Energy TALO	Oil & Gas Exploration & Production Energy	$33.8M	6.83%	+$25.2M Bought	2.02% 3.5M shares	Q2 2025 Held for 5 months
9 Select Water Solutions WTTR	Oil & Gas Equipment & Services Energy	$33.5M	6.78%	-$13.2M Sold	2.99% 3.1M shares	Q4 2023 Held for 1y 11m
10 Baytex Energy BTE	Oil & Gas Exploration & Production Energy	$25.8M	5.22%	+$25.8M Bought	1.44% 11.0M shares	Q3 2025 Held for 2 months

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Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Webs Creek Capital Management LP's latest filing

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Market Value

$494.4M

Prior: $485.3M

Q/Q Change

+1.89%

+$9.2M

Net Flows % of MV

-12.46%

Turnover Ratio

41.01%

New Purchases

4 stocks

$113.4M

Added To

7 stocks

+$37.8M

Sold Out Of

6 stocks

$180.9M

Reduced Holdings

6 stocks

-$31.9M

Increased Positions

Position	Shares Δ	Change
1 Viper Energy VNOM	New	0 → 1.5M +$59.0M
2 Baker Hughes BKR	New	0 → 839.2K +$40.9M
3 MasTec MTZ	New	0 → 56.4K +$12.0M
4 ProFrac Holding Corp. ACDC	New	0 → 400.0K +$1.5M
5 Talos Energy TALO	+291.4%	900.0K → 3.5M +$25.2M

Decreased Positions

Position	Shares Δ	Change
1 EQT Corporation EQT	Sold	814.9K → 0 −$47.5M
2 VIST Vista Energy VIST	Sold	739.0K → 0 −$35.3M
3 Range Resources RRC	Sold	830.7K → 0 −$33.8M
4 Extendicare Inc. EXE	Sold	261.5K → 0 −$30.6M
5 Quanta Services PWR	Sold	68.6K → 0 −$25.9M