# EDGAR Filing Document

**Accession Number:** 0001539838
**File Stem:** 0001140361-25-031593
**Filing Date:** 2025-8
**Character Count:** 37471
**Document Hash:** d492bc24f293e72ab96ba3f80d1675f6
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001140361-25-031593.hdr.sgml**: 20250815

**ACCESSION NUMBER**: 0001140361-25-031593

**CONFORMED SUBMISSION TYPE**: SCHEDULE 13D/A

**PUBLIC DOCUMENT COUNT**: 3

**FILED AS OF DATE**: 20250815

**DATE AS OF CHANGE**: 20250815

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Diamondback Energy, Inc.
- **CENTRAL INDEX KEY:** 0001539838
- **STANDARD INDUSTRIAL CLASSIFICATION:** CRUDE PETROLEUM & NATURAL GAS [1311]
- **ORGANIZATION NAME:** 01 Energy & Transportation
- **EIN:** 000000000
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 005-87028
- **FILM NUMBER:** 251226053

**BUSINESS ADDRESS:**
- **STREET 1:** 500 WEST TEXAS AVENUE
- **STREET 2:** SUITE 100
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79701
- **BUSINESS PHONE:** 432-221-7400

**MAIL ADDRESS:**
- **STREET 1:** 500 WEST TEXAS AVENUE
- **STREET 2:** SUITE 100
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79701
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Greth Lyndal
- **CENTRAL INDEX KEY:** 0002021141

**ORGANIZATION NAME:**

**FILING VALUES:**
- **FORM TYPE:** SCHEDULE 13D/A

**MAIL ADDRESS:**
- **STREET 1:** 310 W. WALL ST, SUITE 305
- **CITY:** MIDLAND
- **STATE:** TX
- **ZIP:** 79701

## Exhibit 99.1

------

<u>Exhibit 99.1</u>

JOINT ACQUISITION STATEMENT

PURSUANT TO RULE 13d-1(k)(1)

The undersigned acknowledge and agree that the foregoing statement on Schedule 13D is filed on behalf of each of the undersigned and that all subsequent amendments to this statement on Schedule 13D shall be filed on behalf of each of the undersigned without the necessity of filing additional joint acquisition statements. The undersigned acknowledge that each shall be responsible for the timely filing of such amendments, and for the completeness and accuracy of the information concerning it contained therein, but shall not be responsible for the completeness and accuracy of the information concerning the other, except to the extent that it knows or has reason to believe that such information is inaccurate.

---

| | | |
|:---|:---|:---|
| Dated: August 15, 2025 |  |  |
|  | **SGF FANG HOLDINGS, LP**<br> **LYNDAL STEPHENS GRETH** | **SGF FANG HOLDINGS, LP**<br> **LYNDAL STEPHENS GRETH** |
|  |  | /s/ Kevin T. Keen |
|  | Name: | Kevin T. Keen |
|  | Title: | Authorized Signatory |

---

------

## Exhibit 99.2

------

<u>Exhibit 99.2</u>

POWER OF ATTORNEY

The undersigned hereby constitutes and appoints Kevin T. Keen the lawful attorney-in-fact and agent with full power and authority to execute and file on the undersigned's behalf, any and all instruments including Forms 3, 4 and 5, and Schedules 13D and 13G (collectively, the "Filings"), and any amendments, supplements or successor forms thereto pursuant to the Securities Exchange Act of 1934, as amended (the "Exchange Act"), and any rules or regulations or requirements of the Securities and Exchange Commission in connection with the undersigned's reporting obligations with respect to securities of Diamondback Energy, Inc., a Delaware corporation, pursuant to Section 13(d) of the Exchange Act and Section 16(b) of the Exchange Act.

The authority of such attorney-in-fact shall continue until the undersigned is no longer required to file any of the Filings, unless earlier revoked in writing. The undersigned hereby ratifies, confirms and approves in all respects all Filings (including amendments thereto) and actions taken by the attorney-in-fact relating to such Filings.

The undersigned acknowledges that the attorney-in-fact is not assuming any of the undersigned's responsibilities to comply with Section 13 or Section 16 of the Exchange Act.

IN WITNESS WHEREOF, the undersigned, in her individual capacity and in her capacity as an authorized signatory of each of the entities listed below, has executed and delivered this Power of Attorney on her own behalf and on behalf of each such entity, with such single execution constituting the valid and binding act of the undersigned individually and of each entity, as of the date indicated.

---

| | | |
|:---|:---|:---|
| Dated: August 14, 2025 |  |  |
|  | **STEPHENS FAMILY TRUST** | **STEPHENS FAMILY TRUST** |
|  | **SFT 1 HOLDINGS, LLC**<br> **SFT 2 HOLDINGS, LLC**<br> **SGF FANG HOLDINGS, LP**<br> **SGF CAPITAL, LLC**<br> **LYNDAL STEPHENS GRETH**<br> **AUTRY STEPHENS MANAGEMENT TRUST**<br> **STEPHENS FAMILY TRUST #2**<br> **ACS CAPITAL MANAGEMENT, LLC**<br> **ACS CAPITAL HOLDINGS, LP**<br> **ENDEAVOR MANAGER, LLC**<br> **SFT MANAGEMENT, LLC** | **SFT 1 HOLDINGS, LLC**<br> **SFT 2 HOLDINGS, LLC**<br> **SGF FANG HOLDINGS, LP**<br> **SGF CAPITAL, LLC**<br> **LYNDAL STEPHENS GRETH**<br> **AUTRY STEPHENS MANAGEMENT TRUST**<br> **STEPHENS FAMILY TRUST #2**<br> **ACS CAPITAL MANAGEMENT, LLC**<br> **ACS CAPITAL HOLDINGS, LP**<br> **ENDEAVOR MANAGER, LLC**<br> **SFT MANAGEMENT, LLC** |
|  |  | /s/ Lyndal Stephens Greth |
|  | Name: | Lyndal Stephens Greth |

---

------

### UNITED STATES SECURITIES AND EXCHANGE COMMISSION
**Washington, D.C. 20549**

## SCHEDULE 13D

### Under the Securities Exchange Act of 1934

**(Amendment No. 2)**

**Diamondback Energy, Inc.**

*(Name of Issuer)*

**Common Stock, par value $0.01 per share**

*(Title of Class of Securities)*

**25278X109**

*(CUSIP Number)*

**Hillary H. Holmes**<br>Gibson, Dunn & Crutcher LLP<br>811 Main Street, Suite 3000<br>Houston TX 77002<br>(346) 718-6600

*(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)*

**08/13/2025**

*(Date of Event Which Requires Filing of this Statement)*

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**SGF FANG Holdings, LP** | Name of reporting person<br>**SGF FANG Holdings, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**101686727.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**101686727.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**101686727.00** | Aggregate amount beneficially owned by each reporting person<br>**101686727.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**35.1%** | Percent of class represented by amount in Row (11)<br>**35.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Note to Row 1: On August 13, 2025, in connection with the Reorganization (as defined and described in Item 2(a) hereto), SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. Lyndal Stephens Greth ("Mrs. Stephens Greth") remains the ultimate beneficial owner of the shares. 

Note to Row 13: Based upon 289,486,120 shares of Company Common Stock outstanding as of August 1, 2025, as disclosed by the Company in its Form 10-Q filed with the Securities and Exchange Commission (the "SEC") on August 6, 2025.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Greth Lyndal** | Name of reporting person<br>**Greth Lyndal** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**X1** | Citizenship or place of organization<br>**X1** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**101686727.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**101686727.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**101686727.00** | Aggregate amount beneficially owned by each reporting person<br>**101686727.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**35.1%** | Percent of class represented by amount in Row (11)<br>**35.1%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**IN** | Type of Reporting Person (See Instructions)<br>**IN** | |

---

**Comment for Reporting Person:** Note to Rows 8, 10, and 11: Following the Reorganization, these figures consist of 101,686,727 shares of Company Common Stock held directly by SGF FANG Holdings, LP, which is ultimately controlled by Mrs. Stephens Greth. Mrs. Stephens Greth is the ultimate beneficial owner of the shares of Company Common Stock. 

Note to Row 13: Based upon 289,486,120 shares of Company Common Stock outstanding as of August 1, 2025, as disclosed by the Company in its Form 10-Q filed with the SEC on August 6, 2025.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Autry Stephens Management Trust** | Name of reporting person<br>**Autry Stephens Management Trust** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: On August 13, 2025, in connection with the Reorganization, SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. Mrs. Stephens Greth remains the ultimate beneficial owner of the shares. The Autry Stephens Management Trust no longer beneficially owns any shares of Company Common Stock following the Reorganization. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ACS Capital Management, LLC** | Name of reporting person<br>**ACS Capital Management, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: On August 13, 2025, in connection with the Reorganization, SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. Mrs. Stephens Greth remains the ultimate beneficial owner of the shares. ACS Capital Management, LLC no longer beneficially owns any shares of Company Common Stock following the Reorganization. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**ACS Capital Holdings, LP** | Name of reporting person<br>**ACS Capital Holdings, LP** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**PN** | Type of Reporting Person (See Instructions)<br>**PN** | |

---

**Comment for Reporting Person:** Note to Row 1: On August 13, 2025, in connection with the Reorganization, SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. Mrs. Stephens Greth remains the ultimate beneficial owner of the shares. ACS Capital Holdings, LP no longer beneficially owns any shares of Company Common Stock following the Reorganization. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Endeavor Manager, LLC** | Name of reporting person<br>**Endeavor Manager, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**TEXAS** | Citizenship or place of organization<br>**TEXAS** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: On August 13, 2025, in connection with the Reorganization, SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. Mrs. Stephens Greth remains the ultimate beneficial owner of the shares. Endeavor Manager, LLC no longer beneficially owns any shares of Company Common Stock following the Reorganization. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Stephens Family Trust** | Name of reporting person<br>**Stephens Family Trust** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: The Stephens Family Trust is not the record holder or the ultimate beneficial owner of any shares of Company Common Stock. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**Stephens Family Trust #2** | Name of reporting person<br>**Stephens Family Trust #2** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: The Stephens Family Trust #2 is not the record holder or the ultimate beneficial owner of any shares of Company Common Stock. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**SFT Management, LLC** | Name of reporting person<br>**SFT Management, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: SFT Management, LLC is not the record holder or the ultimate beneficial owner of any shares of Company Common Stock. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**SFT 1 Holdings, LLC** | Name of reporting person<br>**SFT 1 Holdings, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: SFT 1 Holdings, LLC is not the record holder or the ultimate beneficial owner of any shares of Company Common Stock. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

| **CUSIP No.** | **25278X109** |

---

| | | | |
|:--|:--|:--|:--|
| 1 | Name of reporting person<br>**SFT 2 Holdings, LLC** | Name of reporting person<br>**SFT 2 Holdings, LLC** | |
| 2 | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | Check the appropriate box if a member of a Group (See Instructions)<br>[x] (a)<br>[ ] (b) | |
| 3 | SEC use only | SEC use only | |
| 4 | Source of funds (See Instructions)<br>**OO** | Source of funds (See Instructions)<br>**OO** | |
| 5 | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)<br>[ ] | |
| 6 | Citizenship or place of organization<br>**DELAWARE** | Citizenship or place of organization<br>**DELAWARE** | |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 7 | Sole Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 8 | Shared Voting Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 9 | Sole Dispositive Power<br>**0.00** |
| Number of Shares<br>Beneficially Owned by<br>Each Reporting Person With: | 10 | Shared Dispositive Power<br>**0.00** |
| 11 | Aggregate amount beneficially owned by each reporting person<br>**0.00** | Aggregate amount beneficially owned by each reporting person<br>**0.00** | |
| 12 | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)<br>[ ] | |
| 13 | Percent of class represented by amount in Row (11)<br>**0%** | Percent of class represented by amount in Row (11)<br>**0%** | |
| 14 | Type of Reporting Person (See Instructions)<br>**OO** | Type of Reporting Person (See Instructions)<br>**OO** | |

---

**Comment for Reporting Person:** Note to Row 1: SFT 2 Holdings, LLC is not the record holder or the ultimate beneficial owner of any shares of Company Common Stock. Accordingly, it has exited the Section 13(d) reporting scheme and will no longer be a Reporting Person on this Schedule 13D going forward.

**Item 1. Security and Issuer**

**(a) Title of Class of Securities:**
Common Stock, par value $0.01 per share

**(b) Name of Issuer:**
Diamondback Energy, Inc.

**(c) Address of Issuer's Principal Executive Offices:**
500 WEST TEXAS AVE., SUITE 1200, MIDLAND, TX, 79701

This Amendment No. 2 amends and supplements the statement on Schedule 13D originally filed with the SEC on September 13, 2024, as amended on September 24, 2024 (the "Schedule 13D"), by the Reporting Persons (as defined below) with respect to shares of Company Common Stock. Unless otherwise defined herein, capitalized terms used in this Amendment No. 2 shall have the meanings ascribed to them in the Schedule 13D. Unless amended or supplemented below, the information in the Schedule 13D remains unchanged.

**Item 4. Purpose of Transaction**

Item 4 is hereby amended to delete the third paragraph in full and replace it with the following:

The Endeavor Stockholders have nominated four directors to the Company's board of directors, in accordance with their rights under the Stockholders Agreement.

Item 4 is hereby further amended and supplemented to add the following:

On August 13, 2025, in connection with the Reorganization, SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. Mrs. Stephens Greth remains the ultimate beneficial owner of the shares of Company Common Stock, and the Reorganization results in no change in her beneficial ownership. Rather, it is a change in the form of beneficial ownership.

**Item 5. Interest in Securities of the Issuer**

**(a)**
—

**(b)**
—

**(c)**
—

**Item 6. Contracts, Arrangements, Understandings or Relationships With Respect to Securities of the Issuer.**

Item 6 is hereby amended and supplemented to add the following:

On August 13, 2025, as part of the Reorganization, SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. The Reorganization involved transfers of shares of Company Common Stock between entities under the common control of Mrs. Stephens Greth. Mrs. Stephens Greth remains the ultimate beneficial owner of the shares. See Rule 16a-13.

### SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** SGF FANG Holdings, LP

**Signature:** By: SGF Capital, LLC, its general partner /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Greth Lyndal

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Autry Stephens Management Trust

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ACS Capital Management, LLC

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** ACS Capital Holdings, LP

**Signature:** By: ACS Capital Management, LLC, its general partner /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Endeavor Manager, LLC

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Stephens Family Trust

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** Stephens Family Trust #2

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** SFT Management, LLC

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** SFT 1 Holdings, LLC

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

**Reporting Person:** SFT 2 Holdings, LLC

**Signature:** /s/ Kevin T. Keen

**Name/Title:** Kevin T. Keen/Attorney-in-fact

**Date:** 08/15/2025