SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

SGF FANG Holdings, LP

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 101,686,727.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 101,686,727.00

Aggregate amount beneficially owned by each reporting person

101,686,727.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

35.1 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

Greth Lyndal

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 101,686,727.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 101,686,727.00

Aggregate amount beneficially owned by each reporting person

101,686,727.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

35.1 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

Autry Stephens Management Trust

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

ACS Capital Management, LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

ACS Capital Holdings, LP

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

Endeavor Manager, LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

TEXAS

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

Stephens Family Trust

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

Stephens Family Trust #2

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

SFT Management, LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

SFT 1 Holdings, LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

CUSIP No.

25278X109

Name of reporting person

SFT 2 Holdings, LLC

Check the appropriate box if a member of a Group (See Instructions)

(a)

(b)

SEC use only

Source of funds (See Instructions)

Check if disclosure of legal proceedings is required pursuant to Items 2(d) or 2(e)

Checkbox not checked

Citizenship or place of organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

7	Sole Voting Power 0.00
8	Shared Voting Power 0.00
9	Sole Dispositive Power 0.00
10	Shared Dispositive Power 0.00

Aggregate amount beneficially owned by each reporting person

0.00

Check if the aggregate amount in Row (11) excludes certain shares (See Instructions)

Checkbox not checked

Percent of class represented by amount in Row (11)

0 %

Type of Reporting Person (See Instructions)

Comment for Type of 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.

SCHEDULE 13D

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, TEXAS , 79701.

Item 1 Comment:

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 2.

Identity and Background

(a)

Item 2(a) is hereby amended and restated in full. This Schedule 13D is being filed by: SGF FANG Holdings, LP, a Delaware limited partnership; Mrs. Stephens Greth, a United States citizen; the Autry Stephens Management Trust, a Texas trust; ACS Capital Management, LLC, a Delaware limited liability company; ACS Capital Holdings, LP, a Texas limited partnership; Endeavor Manager, LLC, a Texas limited liability company; the Stephens Family Trust, a Delaware trust; the Stephens Family Trust #2, a Delaware trust; SFT Management, LLC, a Delaware limited liability company; SFT 1 Holdings, LLC, a Delaware limited liability company; and SFT 2 Holdings, LLC, a Delaware limited liability company (collectively, the "Reporting Persons"). On August 13, 2025, in connection with an internal reorganization among entities controlled by Mrs. Stephens Greth that streamlined Mrs. Stephens Greth's share ownership structure (the "Reorganization"), SGF FANG Holdings, LP became the record holder of 101,686,727 shares of Company Common Stock. The Reorganization solely changes the form of ownership of the ultimate beneficial owner, and Mrs. Stephens Greth remains the ultimate beneficial owner of the shares. The Autry Stephens Management Trust, ACS Capital Management, LLC, ACS Capital Holdings, LP and Endeavor Manager, LLC no longer beneficially own any shares of Company Common Stock following the Reorganization. Accordingly, they have exited the Section 13(d) reporting scheme and will no longer be Reporting Persons on this Schedule 13D going forward. The Stephens Family Trust, the Stephens Family Trust #2, SFT 1 Holdings, LLC, SFT 2 Holdings, LLC and SFT Management, LLC are not the record holders or the ultimate beneficial owners of any shares of Company Common Stock. Accordingly, they have exited the Section 13(d) reporting scheme and will no longer be Reporting Persons on this Schedule 13D going forward.

(b)

Item 2(b) is hereby amended and restated in full. The principal business address of each of the Reporting Persons is 8111 Douglas Avenue, Suite 1200, Dallas, Texas 75225.

(c)

Item 2(c) is hereby amended and restated in full. Mrs. Stephens Greth is the ultimate beneficial owner of the shares of Company Common Stock held of record by SGF FANG Holdings, LP and indirectly controls SGF Capital, LLC, its general partner.

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

(e)

Item 2(a) is incorporated by reference herein.

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.

Item 7.

Material to be Filed as Exhibits.

Item 7 is hereby amended by adding the following: 99.1 Joint Filing Agreement (filed herewith). 99.2 Power of Attorney (filed herewith).

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.

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

Greth Lyndal

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

Autry Stephens Management Trust

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

ACS Capital Management, LLC

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

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

Endeavor Manager, LLC

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

Stephens Family Trust

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

Stephens Family Trust #2

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

SFT Management, LLC

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

SFT 1 Holdings, LLC

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025

SFT 2 Holdings, LLC

Signature:	/s/ Kevin T. Keen
Name/Title:	Kevin T. Keen/Attorney-in-fact
Date:	08/15/2025