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Yaupon Capital Management LP

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13F filer, CIK 1755028, NEW YORK, NY

Yaupon Capital Management LP reported $2,765,965,915 across 108 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 32.91% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001755028-26-000002

Period
2025-12-31
Reported value
$2.77B
Holdings
108
Top 10 weight
32.91%
New
50
Sold out
55

Largest buys vs the previous quarter

SecurityShares changeApprox. value
NFGadded+927,873$74.3M
CRHnew+505,713$63.1M
CTRAnew+2,369,315$62.4M
CSXnew+1,559,664$56.5M
NInew+1,192,609$49.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
LNGexited-230,002-$54M
VSTexited-225,000-$44.1M
FSLRexited-173,588-$38.3M
CATreduced-56,612-$32.4M
AWKreduced-246,005-$32.1M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001755028-26-000002, largest first. % of portfolio is the value over $2,036,115,421, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NFGNATIONAL FUEL GAS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 387,756 shares; 2024Q4: 568,624 shares; 2025Q1: 234,640 shares; 2025Q2: 472,790 shares; 2025Q3: 178,106 shares; 2025Q4: 1,105,979 shares 1,105,979$88.5M4.35%+927,873Timeline
BPBP PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,600,911 shares; 2025Q1: 1,988,362 shares; 2025Q2: 1,910,792 shares; 2025Q3: 2,532,571 shares; 2025Q4: 2,231,295 shares 2,231,295$77.5M3.81%-301,276Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,661,010 shares; 2024Q4: not reported; 2025Q1: 1,418,730 shares; 2025Q2: 2,658,198 shares; 2025Q3: 3,240,859 shares; 2025Q4: 4,346,820 shares 4,346,820$73.5M3.61%+1,105,961Timeline
OVVOVINTIV INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 269,881 shares; 2024Q4: 934,442 shares; 2025Q1: 1,164,408 shares; 2025Q2: 973,584 shares; 2025Q3: 1,223,966 shares; 2025Q4: 1,681,188 shares 1,681,188$65.9M3.24%+457,222Timeline
CRHCRH PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 464,115 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 505,713 shares 505,713$63.1M3.1%newTimeline
TRPTC ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 769,458 shares; 2024Q4: 1,054,695 shares; 2025Q1: 539,615 shares; 2025Q2: not reported; 2025Q3: 976,913 shares; 2025Q4: 1,143,027 shares 1,143,027$62.9M3.09%+166,114Timeline
AESAES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 994,713 shares; 2025Q3: 4,360,221 shares; 2025Q4: 4,357,456 shares 4,357,456$62.5M3.07%-2,765Timeline
CTRACOTERRA ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 759,813 shares; 2024Q4: 1,302,139 shares; 2025Q1: 858,520 shares; 2025Q2: 656,937 shares; 2025Q3: not reported; 2025Q4: 2,369,315 shares 2,369,315$62.4M3.06%newTimeline
PRPERMIAN RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,748,416 shares; 2024Q4: 3,140,087 shares; 2025Q1: 1,982,187 shares; 2025Q2: 2,680,514 shares; 2025Q3: 3,498,246 shares; 2025Q4: 4,082,966 shares 4,082,966$57.3M2.81%+584,720Timeline
CSXCSX CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,036,094 shares; 2025Q3: not reported; 2025Q4: 1,559,664 shares 1,559,664$56.5M2.78%newTimeline
DUKDUKE ENERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 93,599 shares; 2024Q4: 227,935 shares; 2025Q1: 228,495 shares; 2025Q2: 248,767 shares; 2025Q3: 417,730 shares; 2025Q4: 443,963 shares 443,963$52M2.56%+26,233Timeline
NINISOURCE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 822,522 shares; 2024Q4: 755,206 shares; 2025Q1: 900,290 shares; 2025Q2: 909,161 shares; 2025Q3: not reported; 2025Q4: 1,192,609 shares 1,192,609$49.8M2.45%newTimeline
SHELSHELL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 693,641 shares; 2024Q4: 686,365 shares; 2025Q1: 854,449 shares; 2025Q2: 804,153 shares; 2025Q3: 972,689 shares; 2025Q4: 668,736 shares 668,736$49.1M2.41%-303,953Timeline
AWKAMERICAN WTR WKS CO INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 89,931 shares; 2025Q2: 140,529 shares; 2025Q3: 595,238 shares; 2025Q4: 349,233 shares 349,233$45.6M2.24%-246,005Timeline
PNWPINNACLE WEST CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 250,291 shares; 2024Q4: 290,354 shares; 2025Q1: 239,533 shares; 2025Q2: 372,131 shares; 2025Q3: 483,649 shares; 2025Q4: 511,553 shares 511,553$45.4M2.23%+27,904Timeline
WMBWILLIAMS COS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 540,412 shares; 2025Q4: 740,946 shares 740,946$44.5M2.19%+200,534Timeline
AEEAMEREN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 278,779 shares; 2024Q4: 233,700 shares; 2025Q1: 256,302 shares; 2025Q2: 459,930 shares; 2025Q3: 270,949 shares; 2025Q4: 434,497 shares 434,497$43.4M2.13%+163,548Timeline
FTITECHNIPFMC PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,263,549 shares; 2025Q1: 1,115,011 shares; 2025Q2: 1,142,296 shares; 2025Q3: 1,062,450 shares; 2025Q4: 943,230 shares 943,230$42M2.06%-119,220Timeline
DTEDTE ENERGY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 279,476 shares; 2024Q4: 106,875 shares; 2025Q1: 191,200 shares; 2025Q2: 213,813 shares; 2025Q3: 298,126 shares; 2025Q4: 290,679 shares 290,679$37.5M1.84%-7,447Timeline
ROKROCKWELL AUTOMATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 93,793 shares 93,793$36.5M1.79%newTimeline
NUENUCOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 216,764 shares 216,764$35.4M1.74%newTimeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,310,133 shares; 2024Q4: 399,934 shares; 2025Q1: 810,538 shares; 2025Q2: 639,896 shares; 2025Q3: 973,764 shares; 2025Q4: 595,738 shares 595,738$31.9M1.57%-378,026Timeline
CNPCENTERPOINT ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 704,980 shares; 2025Q2: not reported; 2025Q3: 818,480 shares; 2025Q4: 811,982 shares 811,982$31.1M1.53%-6,498Timeline
MTDRMATADOR RES COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 744,037 shares; 2024Q4: 645,243 shares; 2025Q1: 614,301 shares; 2025Q2: 574,388 shares; 2025Q3: 1,070,805 shares; 2025Q4: 726,504 shares 726,504$30.8M1.51%-344,301Timeline
TRGPTARGA RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 162,147 shares 162,147$29.9M1.47%newTimeline
MTZMASTEC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 74,294 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 42,276 shares; 2025Q4: 116,993 shares 116,993$25.4M1.25%+74,717Timeline
ETRENTERGY CORP NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 581,185 shares; 2025Q2: 534,514 shares; 2025Q3: 469,128 shares; 2025Q4: 269,935 shares 269,935$25M1.23%-199,193Timeline
HUTHUT 8 CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 275,000 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 536,522 shares 536,522$24.6M1.21%newTimeline
KGSKODIAK GAS SVCS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 73,946 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 725,000 shares; 2025Q4: 646,131 shares 646,131$24.2M1.19%-78,869Timeline
CHRWC H ROBINSON WORLDWIDE INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 61,593 shares; 2025Q4: 147,360 shares 147,360$23.7M1.16%+85,767Timeline
MDUMDU RES GROUP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,200,000 shares 1,200,000$23.4M1.15%newTimeline
WWDWOODWARD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 34,494 shares; 2025Q4: 76,017 shares 76,017$23M1.13%+41,523Timeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 497,043 shares 497,043$21.6M1.06%newTimeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,710,455 shares; 2024Q4: 1,458,356 shares; 2025Q1: 1,777,347 shares; 2025Q2: 1,370,782 shares; 2025Q3: 790,405 shares; 2025Q4: 1,051,553 shares 1,051,553$20.9M1.03%+261,148Timeline
WFRDWEATHERFORD INTL PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 266,463 shares 266,463$20.9M1.02%newTimeline
BKVBKV CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 924,851 shares; 2024Q4: 418,026 shares; 2025Q1: 615,089 shares; 2025Q2: 219,227 shares; 2025Q3: 306,955 shares; 2025Q4: 750,000 shares 750,000$20.4M1%+443,045Timeline
ONON SEMICONDUCTOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 353,580 shares 353,580$19.1M0.94%newTimeline
PEGPUBLIC SVC ENTERPRISE GROUPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 134,752 shares; 2024Q4: 285,363 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 235,282 shares 235,282$18.9M0.93%newTimeline
HALHALLIBURTON COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,057,932 shares; 2025Q4: 668,506 shares 668,506$18.9M0.93%-389,426Timeline
CWSTCASELLA WASTE SYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 192,855 shares 192,855$18.9M0.93%newTimeline
LLOEWS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 176,832 shares 176,832$18.6M0.91%newTimeline
TECKTECK RESOURCES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,195,896 shares; 2024Q4: 551,281 shares; 2025Q1: 329,595 shares; 2025Q2: 262,733 shares; 2025Q3: not reported; 2025Q4: 360,905 shares 360,905$17.3M0.85%newTimeline
LGNLEGENCE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 625,000 shares; 2025Q4: 399,817 shares 399,817$17.2M0.85%-225,183Timeline
COHRCOHERENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 89,187 shares 89,187$16.5M0.81%newTimeline
TACTRANSALTA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,685,955 shares; 2024Q4: 705,848 shares; 2025Q1: 1,680,101 shares; 2025Q2: 1,160,494 shares; 2025Q3: 1,394,087 shares; 2025Q4: 1,290,906 shares 1,290,906$16.3M0.8%-103,181Timeline
TXNMTXNM ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 323,487 shares; 2024Q4: 639,345 shares; 2025Q1: 286,974 shares; 2025Q2: 150,165 shares; 2025Q3: 246,378 shares; 2025Q4: 260,165 shares 260,165$15.3M0.75%+13,787Timeline
EVRGEVERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 540,162 shares; 2024Q4: 548,578 shares; 2025Q1: 396,263 shares; 2025Q2: 810,504 shares; 2025Q3: 201,737 shares; 2025Q4: 210,050 shares 210,050$15.2M0.75%+8,313Timeline
KBONUKARBON CAP PARTNERS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,470,000 shares 1,470,000$14.8M0.73%newTimeline
CATCATERPILLAR INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 82,253 shares; 2025Q4: 25,641 shares 25,641$14.7M0.72%-56,612Timeline
KRSPRICE ACQUISITION CORP 3Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,425,829 shares 1,425,829$14.6M0.72%newTimeline
SOLSSOLSTICE ADVANCED MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 291,261 shares 291,261$14.1M0.69%newTimeline
TBNTAMBORAN RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 139,355 shares; 2024Q4: 315,544 shares; 2025Q1: 315,544 shares; 2025Q2: 315,544 shares; 2025Q3: 465,544 shares; 2025Q4: 515,544 shares 515,544$14M0.69%+50,000Timeline
SHLSSHOALS TECHNOLOGIES GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,530,289 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 847,727 shares; 2025Q3: 3,219,416 shares; 2025Q4: 1,558,888 shares 1,558,888$13.3M0.65%-1,660,528Timeline
OGEOGE ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 300,000 shares 300,000$12.8M0.63%newTimeline
RIORIO TINTO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 144,771 shares; 2025Q4: 152,955 shares 152,955$12.2M0.6%+8,184Timeline
XIFRXPLR INFRASTRUCTURE LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 738,933 shares; 2025Q2: 738,933 shares; 2025Q3: 778,109 shares; 2025Q4: 1,115,540 shares 1,115,540$11.2M0.55%+337,431Timeline
ALUBUALUSSA ENERGY ACQUISIT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,100,000 shares 1,100,000$11.1M0.55%newTimeline
DINOHF SINCLAIR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 21,341 shares; 2025Q2: not reported; 2025Q3: 406,436 shares; 2025Q4: 237,671 shares 237,671$11M0.54%-168,765Timeline
TLNCUTALON CAP CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,000,000 shares; 2025Q4: 1,000,000 shares 1,000,000$10.3M0.5%0Timeline
WBIWATERBRIDGE INFRASTRUCTURE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,000,000 shares; 2025Q4: 497,046 shares 497,046$9.95M0.49%-502,954Timeline
PTENPATTERSON-UTI ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 1,617,799 shares 1,617,799$9.88M0.49%newTimeline
BKHBLACK HILLS CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 138,958 shares 138,958$9.65M0.47%newTimeline
IDAIDACORP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 161,832 shares; 2025Q3: 133,877 shares; 2025Q4: 70,513 shares 70,513$8.92M0.44%-63,364Timeline
TSLATESLA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 19,593 shares 19,593$8.81M0.43%newTimeline
NSCNORFOLK SOUTHN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 115,905 shares; 2024Q4: 118,902 shares; 2025Q1: not reported; 2025Q2: 80,851 shares; 2025Q3: 60,044 shares; 2025Q4: 30,407 shares 30,407$8.78M0.43%-29,637Timeline
WOLFWOLFSPEED INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 449,973 shares 449,973$7.83M0.38%newTimeline
OROR ROYALTIES INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 187,197 shares; 2025Q3: 194,419 shares; 2025Q4: 205,228 shares 205,228$7.27M0.36%+10,809Timeline
CWENACLEARWAY ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 229,398 shares 229,398$7.21M0.35%newTimeline
INRINFINITY NAT RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 400,000 shares; 2025Q2: 359,006 shares; 2025Q3: 373,256 shares; 2025Q4: 467,360 shares 467,360$6.88M0.34%+94,104Timeline
NEXTNEXTDECADE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 4,129,181 shares; 2024Q4: 2,340,311 shares; 2025Q1: 3,967,381 shares; 2025Q2: 3,672,399 shares; 2025Q3: 3,356,285 shares; 2025Q4: 1,233,976 shares 1,233,976$6.5M0.32%-2,122,309Timeline
NWENORTHWESTERN ENERGY GROUP INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 122,414 shares; 2025Q3: 115,686 shares; 2025Q4: 100,624 shares 100,624$6.49M0.32%-15,062Timeline
KRPKIMBELL RTY PARTNERS LPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 450,000 shares; 2025Q2: 450,000 shares; 2025Q3: 473,709 shares; 2025Q4: 496,638 shares 496,638$5.84M0.29%+22,929Timeline
WMSADVANCED DRAIN SYS INC DELQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 40,120 shares 40,120$5.81M0.29%newTimeline
KNTKKINETIK HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 152,056 shares; 2024Q4: not reported; 2025Q1: 200,000 shares; 2025Q2: 100,000 shares; 2025Q3: not reported; 2025Q4: 158,069 shares 158,069$5.7M0.28%newTimeline
AQNALGONQUIN POWER & UTILITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,201,336 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 4,307,038 shares; 2025Q3: 5,888,508 shares; 2025Q4: 866,736 shares 866,736$5.33M0.26%-5,021,772Timeline
HEHAWAIIAN ELEC INDS INC MTN BQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 413,497 shares 413,497$5.09M0.25%newTimeline
HTOH2O AMERICAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 99,884 shares 99,884$4.89M0.24%newTimeline
PPTAPERPETUA RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 250,000 shares; 2025Q1: not reported; 2025Q2: 201,554 shares; 2025Q3: not reported; 2025Q4: 190,481 shares 190,481$4.61M0.23%newTimeline
SOCSABLE OFFSHORE CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 200,000 shares; 2025Q4: 449,215 shares 449,215$4.05M0.2%+249,215Timeline
CEPFCANTOR EQUITY PARTNERS IV INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 300,000 shares; 2025Q4: 309,694 shares 309,694$3.18M0.16%+9,694Timeline
FTAIFTAI AVIATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 14,348 shares 14,348$2.82M0.14%newTimeline
LBLANDBRIDGE COMPANY LLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 270,062 shares; 2024Q4: 249,875 shares; 2025Q1: 27,700 shares; 2025Q2: not reported; 2025Q3: 44,424 shares; 2025Q4: 51,258 shares 51,258$2.51M0.12%+6,834Timeline
AEVAAEVA TECHNOLOGIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 170,832 shares 170,832$2.27M0.11%newTimeline
AURAURORA INNOVATION INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 1,035,608 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 489,855 shares 489,855$1.88M0.09%newTimeline
OPALOPAL FUELS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 700,054 shares; 2024Q4: 700,054 shares; 2025Q1: 711,508 shares; 2025Q2: 711,508 shares; 2025Q3: 741,775 shares; 2025Q4: 767,234 shares 767,234$1.81M0.09%+25,459Timeline
CDLRCADELER A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 114,641 shares; 2024Q4: 114,641 shares; 2025Q1: 134,950 shares; 2025Q2: 180,566 shares; 2025Q3: 189,196 shares; 2025Q4: 93,451 shares 93,451$1.74M0.09%-95,745Timeline
PAIIPYROPHYTE ACQUISITION CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 20,708 shares; 2025Q4: 20,708 shares 20,708$208K0.01%0Timeline
METCRAMACO RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,173 shares 11,173$201K0.01%newTimeline
RICE ACQUISITION CORP 3RICE ACQUISITION CORP 3Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 237,637 shares 237,637$190K0.01%new
CEPVCANTOR EQUITY PARTNERS V INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 10,251 shares 10,251$105K0.01%newTimeline
PYROPHYTE ACQUISITION CORP.PYROPHYTE ACQUISITION CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,354 shares; 2025Q4: 10,354 shares 10,354$4.14K<0.01%0

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
HYGISHARES TR IBOXX HI YD ETFput2,050,300$165Mnew
SPYSTATE STR SPDR S&P 500 ETF T SHSput190,000$130M-60,000
EQTEQT CORP Stockcall1,466,600$78.6M+966,600
PSXPHILLIPS 66 Stockput512,500$66.1Mnew
ETNEATON CORP PLC COMput152,500$48.6Mnew
PWRQUANTA SVCS INC COMput100,000$42.2Mnew
FSLRFIRST SOLAR INC Stockput140,000$36.6Mnew
XELXCEL ENERGY INC COMput370,200$27.3Mnew
CFCF INDUSTRIES HOLD Stockput293,500$22.7Mnew
NEXTNEXTDECADE CORP COMcall4,000,000$21.1Mnew
XMESPDR SERIES TRUST SHSput200,000$20.7Mnew
PBFPBF ENERGY INC CL Aput732,700$19.9M+232,700
CCJCAMECO CORP Stockput205,000$18.8Mnew
DOWDOW HLDGS INC Stockput700,000$16.4Mnew
VGVENTURE GLOBAL INC COM CL Aput2,028,700$13.8M-3,036,600
TALOTALOS ENERGY INC COMput200,000$2.2M-610,800

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
RAMACO RES INCRAMACO RES INC NOTE 11/0principal6,000$5.1Mnew

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
EOGEOG RES INC1,000,000$112Mput
LNGCHENIERE ENERGY INC230,002$54Mshares
HALHALLIBURTON CO1,946,600$47.9Mcall
CFCF INDUSTRIES HOLD500,000$44.9Mcall
VSTVISTRA CORP225,000$44.1Mshares
FSLRFIRST SOLAR INC173,588$38.3Mshares
AESAES CORP2,593,200$34.1Mcall
HWMHOWMET AEROSPACE INC160,416$31.5Mshares
CVXCHEVRON CORPORATION190,203$29.5Mshares
TSLATESLA INC62,200$27.7Mput
CNQCANADIAN NAT RES LTD MED TER822,752$26.3Mshares
LNTALLIANT ENERGY CORP384,559$25.9Mshares
RIGTRANSOCEAN LTD8,250,000$25.7Mshares
XOPSPDR SERIES TRUST190,000$25.1Mcall
SHWSHERWIN WILLIAMS CO67,571$23.4Mshares
EOGEOG RES INC200,000$22.4Mcall
IRINGERSOLL RAND INC250,000$20.7Mput
VLTOVERALTO CORP171,302$18.3Mshares
ESEVERSOURCE ENERGY248,083$17.6Mshares
DTMDT MIDSTREAM INC154,243$17.4Mshares
CEGCONSTELLATION ENERGY CORP51,957$17.1Mshares
ECLECOLAB INC61,366$16.8Mshares
SDRLSEADRILL LTD517,848$15.6Mshares
SEISOLARIS ENERGY INFRAS INC353,700$14.1Mput
PRPERMIAN RESOURCES CORP1,029,800$13.2Mcall
VRTVERTIV HOLDINGS CO87,307$13.2Mshares
CTRICENTURI HOLDINGS INC596,950$12.6Mshares
MIRMIRION TECHNOLOGIES INC525,000$12.2Mshares
NRGNRG ENERGY INC69,268$11.2Mshares
CCJCAMECO CORP109,519$9.18Mshares
WULFTERAWULF INC772,695$8.82Mshares
NXTNEXTPOWER INC118,822$8.79Mshares
FEFIRSTENERGY CORP190,185$8.71Mshares
VALVALARIS LTD173,251$8.45Mshares
XPROEXPRO GROUP HOLDINGS NV687,085$8.16Mshares
LBRTLIBERTY ENERGY INC610,588$7.53Mshares
SHLSSHOALS TECHNOLOGIES GROUP IN1,000,000$7.41Mcall
GPORGULFPORT ENERGY CORP39,287$7.11Mshares
TET1 ENERGY INC3,034,500$6.62Mput
BGBUNGE GLOBAL SA73,475$5.97Mshares
CRCCALIFORNIA RES CORP100,507$5.34Mshares
CRSCARPENTER TECHNOLOGY CORP20,463$5.02Mshares
MSTRSTRATEGY INC15,200$4.9Mput
BDCBELDEN INC38,959$4.69Mshares
SRSPIRE INC55,624$4.53Mshares
AGXARGAN INC16,223$4.38Mshares
ENPHENPHASE ENERGY INC105,418$3.73Mshares
FLSFLOWSERVE CORP62,163$3.3Mshares
ATKRATKORE INC41,236$2.59Mshares
SOCSABLE OFFSHORE CORP103,500$1.81Mput
ATIATI INC15,844$1.29Mshares
EEEXCELERATE ENERGY INC46,986$1.18Mshares
TXNMTXNM ENERGY INC18,200$1.03Mput
SEISOLARIS ENERGY INFRAS INC25,453$1.02Mshares
GSR III ACQUISITION CORPGSR III ACQUISITION CORP30,511$316Kshares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001755028-26-000002 base2026-02-17acceptance time not in the bulk data set