AR

ANTERO RESOURCES Corp

Ticker: AREnergyOil & Gas Extraction
HQ DENVER, COCIK 1433270FY end 12-31Book / share $26.75Shares 311M
Revenue (FY)
$5.28B+21.97%
TTM $6.13B
Op. margin
16.75%+16.74%
TTM 24.67%
Net income
$674.57M+619.95%
TTM $1.12B
Operating cash
$1.63B+92.03%
TTM $1.98B
Free cash flow
$686.93M+207.34%
TTM $883.75M
Return on equity
8.70%+7.88%
TTM 13.03%
Debt / equity
0.19-0.03%
TTM 0.31
Shares outstanding
312.4M-0.34%
TTM 310.9M

The business

Antero Resources Corporation (NYSE: AR) is an independent oil and gas exploration and production company engaged in the development, production, exploration and acquisition of natural gas, natural gas liquids and oil properties located in the Appalachian Basin. The company targets large, repeatable resource plays where horizontal drilling and advanced fracture stimulation technologies enable economic development of unconventional formations. As of December 31, 2025, Antero Resources holds approximately 537,000 net acres of natural gas, NGLs and oil properties primarily in West Virginia and Ohio, with corporate headquarters in Denver, Colorado.

The company operates through three reportable segments: exploration and production of natural gas, NGLs and oil; equity method investment in Antero Midstream Corporation, which owns and operates midstream energy assets including gathering systems, compression facilities, water handling facilities and interests in processing and fractionation plants; and marketing of excess firm transportation capacity. Antero Resources owns 29% of Antero Midstream's common stock, providing significant influence over the midstream operations that support the company's production activities.

As of December 31, 2025, Antero Resources' proved reserves totaled 19,149 Bcfe, comprising 11,770 Bcf of natural gas, 1,208 MMBbl of NGLs and 22 MMBbl of oil and condensate. The company produced 1,256 Bcfe during 2025, with average daily combined production of 3,442 MMcfe/d. Proved developed reserves represent 76% of total proved reserves, while proved undeveloped reserves account for 24%. The company maintains a five-year development plan reviewed by its Board of Directors to support its maintenance capital program.

In February 2026, Antero Resources completed the acquisition of HG Energy II Production Holdings, LLC for $2.8 billion, adding approximately 385,000 net acres in the core Marcellus Shale in West Virginia. Concurrently, the company divested substantially all of its Utica Shale oil and gas assets in Ohio for $800 million. These transactions reflect the company's strategic focus on expanding its core position in the liquids-rich and dry gas Marcellus Shale while reducing cash costs and expanding margins through increased scale and operational efficiency.

Sector
Energy
Industry
Oil & Gas Extraction
HQ
DENVER, CO
FY end
12-31
CIK
1433270
SIC
1311
Financial performance · annual
20132025
$-2.10B$419.36M$2.94B$5.46B$7.98B2013201420152016201720182019202020212022202320242025TTMTTMTTM

Ownership

Who holds ANTERO RESOURCES Corp — across funds, superinvestors and bonds · N-PORT 2026Q2 · 13F 2026-06-30

467
funds hold it
1 of 35
superinvestors hold it
$4.53B
fund-held value
40.5%
of shares held by funds
2
bond issues held by funds

Top fund holders

Fund% of fundValue
iShares Core S&P Mid-Cap ETF
IJH · iShares Trust
0.28%$353.97M
VANGUARD TOTAL STOCK MARKET INDEX FUND
VTI · VANGUARD INDEX FUNDS
0.01%$328.47M
VANGUARD SMALL-CAP INDEX FUND
VB · VANGUARD INDEX FUNDS
0.13%$237.28M
Invesco Small Cap Value Fund
VSCAX · AIM Sector Funds (Invesco Sector Funds)
1.48%$158.93M
Fidelity Low-Priced Stock Fund
FLPSX · Fidelity Puritan Trust
0.55%$130.78M

Superinvestors in ANTERO RESOURCES Corp

David EinhornINCREASED +94.7%
DME Capital Management (Greenlight)
1.4%

Share of each manager's reported 13F portfolio.

Bonds held by funds

Funds report holding 2 issues of ANTERO RESOURCES Corp's debt, $438.68M at fund-held market value — what funds hold, not the company's debt outstanding. Weighted-average coupon 5.39%, maturing 20302036.

IssueCouponMaturesFundsFund-held
ANTERO RESOURCES CORP 5.4% 02/01/20365.400%2036-02-0166$232.99M
AR 5.375 03/01/30 144A5.375%2030-03-0170$205.70M

Fund ownership counts N-PORT filers only, so it is a floor rather than a census — pensions, insurers and direct holders are not visible here, and the remainder is not “held by individuals”.

Fund ownership is a subset of institutional 13F ownership — the two describe overlapping populations and must not be added together.

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