What smart money is saying about Diamondback Energy
1 fund in our archive has pitched Diamondback Energy — most recently ClearBridge Investments Appreciation Strategy in September 2026.
Diamondback Energy, Inc. operates as an independent enterprise focused on oil and natural gas. Its core business involves the acquisition, development, exploration, and production of unconventional and onshore hydrocarbon reserves, predominantly located within the Permian Basin across West Texas and New Mexico. The company's development efforts primarily target significant geological formations, including the Spraberry and Wolfcamp in the Midland Basin, as well as the Wolfcamp and Bone Spring within the Delaware Basin – both crucial components of the broader Permian. As of December 31, 2021, Diamondback Energy's asset base included approximately 524,700 gross acres under its control in the Permian Basin. At that time, its estimated proved oil and natural gas reserves amounted to 1,788,991 thousand barrels of crude oil equivalent. The company also maintained working interests in 5,289 gross producing wells and held royalty interests in an additional 6,455 wells. Beyond its direct well operations, Diamondback Energy possesses mineral interests spanning roughly 930,871 gross acres and 27,027 net royalty acres across the Permian Basin and the Eagle Ford Shale. Furthermore, it manages a portfolio of midstream infrastructure, owning, operating, developing, and acquiring assets such as 866 miles of crude oil gathering pipelines, natural gas gathering pipelines, and an integrated water system within the Midland and Delaware Basins of the Permian. Established in 2007, Diamondback Energy, Inc. is headquartered in Midland, Texas.
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Position history
Between Q1 2026 and Q3 2026, 8 fund letters reported a position in Diamondback Energy — 3 opened or added to the position.
| Quarter | Letters | Bought | Sold | Theses |
|---|---|---|---|---|
| Q3 2026 | 3 | 1 | 0 | 1 |
| Q2 2026 | 4 | 2 | 0 | 0 |
| Q1 2026 | 1 | 0 | 0 | 0 |
Fund activity · 8 positions · 3 moves
- September 2026
“During the third quarter, the ClearBridge Appreciation Strategy increased its exposure to the energy sector, adding to our position in Diamondback Energy and initiating a position in Cheniere Energy.”
Diamondback Energy - August 2026
“Our exploration and production (E&P) holdings (c.19%) give us exposure most directly to rising oil and natural gas prices. We include in this category non-integrated oil sands companies, as this is the GICS approach. The stock here with oil sands exposure is Canadian Natural Resources. The pure E&P stocks have a bias towards the US (EOG, Diamondback and Devon), with one other name (ConocoPhillips) having a mix of US and international production.”
Diamondback Energy - July 2026
“The pure E&P stocks have a bias towards the US (EOG, Diamondback and Devon), with one other name (ConocoPhillips) having a mix of US and international production.”
Diamondback Energy - June 2026
“The pure E&P stocks have a bias towards the US (EOG, Diamondback and Devon), with one other name (ConocoPhillips) having a mix of US and international production.”
Diamondback Energy - New positionClearBridge Investments Appreciation StrategyJune 2026
“Portfolio Highlights The ClearBridge Appreciation Strategy underperformed the benchmark S&P 500 Index in the second quarter of 2026. On an absolute basis, the Strategy had positive contributions from eight of 11 sectors. The IT sector was the main positive contributor, while energy was the main detractor. In relative terms, stock selection and sector allocation detracted. Stock selection in IT, industrials, communication services, financials and consumer discretionary, overweights to materials and energy and an IT underweight detracted the most. Conversely, stock selection in materials and a consumer discretionary underweight were beneficial. On an individual stock basis, the biggest relative contributors during the quarter were ASML, Palo Alto Networks, ASM International, an underweight to Microsoft and not owning Palantir. The biggest detractors were Netflix, underweights to Micron Technology and Advanced Micro Devices, and not owning Intel and Applied Materials. During the quarter, we initiated new positions in SpaceX in communication services, Micron Technology, Cisco Systems, Advanced Micro Devices and Texas Instruments in IT and Diamondback Energy in energy.”
Diamondback Energy - HoldsGuinnessJune 2026
“The pure E&P stocks have a bias towards the US (EOG, Diamondback and Devon), with one other name (ConocoPhillips) having a mix of US and international production.”
Diamondback Energy - New positionClearBridge Investments Value StrategyJune 2026
“Portfolio Positioning During the quarter we initiated a position in Diamondback Energy, an independent oil and natural gas company with high-quality acreage and a low-cost operating profile.”
Diamondback Energy - March 2026
“The energy companies in the portfolio contributed strongly to performance in the quarter: Canadian Natural Resources Limited (CNQ), ConocoPhillips Company, Diamondback Energy, and EOG Resources, Inc.”
Diamondback Energy
Fund coverage · 1 thesis
- ClearBridge Investments Appreciation StrategySeptember 2026
Diamondback Energy is held as a domestic energy producer benefiting from geopolitical supply-security tailwinds and providing downside protection.
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