Houston Investor Arnold Reports 15.3 Million Fervo Energy Shares, A 5.3% Passive Stake
John Douglas Arnold's Centaurus Capital certified it holds the Class A shares for investment, not to influence control of the geothermal developer.
Houston investor John Douglas Arnold and his Centaurus entities hold 15,293,504 Class A shares of Fervo Energy, or 5.3% of the class, according to a Schedule 13G filed Tuesday. The passive ownership disclosure carries an event date of October 22.
Who holds the 15.3 million shares
Centaurus Capital LP is the direct holder of all 15,293,504 shares and has sole voting and sole dispositive power over them, with no shared power. Arnold owns all of the limited partnership interests in Centaurus and is the sole member of its general partner, Centaurus Holdings, LLC.
Because of those ties, Arnold and the general partner may each be deemed to beneficially own the shares, the filing says. All three reporting persons list the same 5.3% figure.
The percentage is calculated on 286,977,787 Class A shares outstanding as of August 10, 2026, the count in Fervo's Form 10-Q filed August 13, 2026.
A passive-investor certification
The filers certified that the shares were not acquired and are not held to change or influence control of Fervo, or in connection with any transaction with that purpose. That is the standard certification for filers using the passive form.
The geothermal developer
Fervo Energy develops, builds, owns and operates geothermal power plants. It drills horizontal wells into hot rock and connects them by hydraulic fracturing so water can carry heat to the surface.
It sells electricity, capacity and environmental attributes to utilities, community choice aggregators and corporate buyers, including Southern California Edison and Shell, and has signed 658 megawatts of binding power purchase agreements. It also has a 3-gigawatt framework agreement with Google for data center power.
Its Project Red pilot in Nevada has supplied 3 megawatts to the grid since 2023, and it is building the 500-megawatt Cape Station in Utah. As of December 31, 2025, it held about 595,900 acres of geothermal leases. Its market value was $2.3 billion as of Tuesday's session.
A law firm circles the stock
Separately, the Rosen Law Firm said in an October 27 release that it is investigating potential securities claims for Fervo shareholders over allegedly misleading business information and is preparing a class action. The release is a solicitation of investors, and the 13G does not reference it.
The 13G reports a holding of 15,293,504 shares against 286,977,787 outstanding as of August 10, 2026.
