# Yaupon Capital Management LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1755028. Source: https://holderbook.com/funds/1755028-yaupon-capital-management-lp/

- Reported value: $5.1B
- Positions: 120
- Weight of the ten largest: 47.0%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| STATE STR SPDR S&P 500 ETF T | [SPY](https://holderbook.com/stocks/SPY/) | $1.4B | 0 | 28.4% | 4 |
| ISHARES TR | [TLT](https://holderbook.com/stocks/TLT/) | $152.1M | 0 | 3.0% | 1 |
| FIRST SOLAR INC | [FSLR](https://holderbook.com/stocks/FSLR/) | $150.4M | 272,379 | 3.0% | 1 |
| NATIONAL FUEL GAS CO | [NFG](https://holderbook.com/stocks/NFG/) | $143.6M | 1,559,618 | 2.8% | 10 |
| VISTRA CORP | [VST](https://holderbook.com/stocks/VST/) | $90.5M | 470,483 | 1.8% | 2 |
| DEVON ENERGY CORP NEW | [DVN](https://holderbook.com/stocks/DVN/) | $86.9M | 2,102,988 | 1.7% | 1 |
| NISOURCE INC | [NI](https://holderbook.com/stocks/NI/) | $83.2M | 1,749,831 | 1.6% | 3 |
| OVINTIV INC | [OVV](https://holderbook.com/stocks/OVV/) | $81.1M | 1,540,608 | 1.6% | 20 |
| WILLIAMS COS INC | [WMB](https://holderbook.com/stocks/WMB/) | $80.9M | 1,088,549 | 1.6% | 5 |
| BKV CORP | [BKV](https://holderbook.com/stocks/BKV/) | $75.8M | 2,768,719 | 1.5% | 8 |
| TALEN ENERGY CORP | [TLN](https://holderbook.com/stocks/TLN/) | $74.4M | 193,647 | 1.5% | 2 |
| AIR PRODUCTS AND CHEMICALS I | [APD](https://holderbook.com/stocks/APD/) | $73.3M | 0 | 1.4% | 1 |
| CENOVUS ENERGY INC | [CVE](https://holderbook.com/stocks/CVE/) | $71.7M | 2,891,599 | 1.4% | 6 |
| ENTERGY CORP NEW | [ETR](https://holderbook.com/stocks/ETR/) | $70.7M | 615,956 | 1.4% | 6 |
| SELECT SECTOR SPDR TR | [XLU](https://holderbook.com/stocks/XLU/) | $68.0M | 0 | 1.3% | 1 |
| ONEOK INC NEW | [OKE](https://holderbook.com/stocks/OKE/) | $65.2M | 0 | 1.3% | 1 |
| MASTEC INC | [MTZ](https://holderbook.com/stocks/MTZ/) | $62.4M | 0 | 1.2% | 1 |
| PERMIAN RESOURCES CORP | [PR](https://holderbook.com/stocks/PR/) | $62.0M | 3,367,361 | 1.2% | 14 |
| PUBLIC SVC ENTERPRISE GROUP | [PEG](https://holderbook.com/stocks/PEG/) | $57.3M | 706,023 | 1.1% | 3 |
| DUKE ENERGY CORP NEW | [DUK](https://holderbook.com/stocks/DUK/) | $56.9M | 449,340 | 1.1% | 8 |
| AMERICAN ELEC PWR CO INC | [AEP](https://holderbook.com/stocks/AEP/) | $56.4M | 412,431 | 1.1% | 1 |
| FORGENT POWER SOLUTIONS INC | [FPS](https://holderbook.com/stocks/FPS/) | $55.9M | 1,000,000 | 1.1% | 2 |
| LEGENCE CORP | [LGN](https://holderbook.com/stocks/LGN/) | $53.5M | 627,256 | 1.1% | 1 |
| H2O AMERICA | [HTO](https://holderbook.com/stocks/HTO/) | $51.8M | 851,846 | 1.0% | 3 |
| KINETIK HOLDINGS INC | [KNTK](https://holderbook.com/stocks/KNTK/) | $48.4M | 1,002,184 | 1.0% | 1 |
| DTE ENERGY CO | [DTE](https://holderbook.com/stocks/DTE/) | $45.4M | 297,977 | 0.9% | 18 |
| HF SINCLAIR CORP | [DINO](https://holderbook.com/stocks/DINO/) | $44.6M | 639,708 | 0.9% | 6 |
| NEXTERA ENERGY INC | [NEE](https://holderbook.com/stocks/NEE/) | $43.9M | 0 | 0.9% | 1 |
| AMERICAN WTR WKS CO INC NEW | [AWK](https://holderbook.com/stocks/AWK/) | $43.9M | 333,442 | 0.9% | 6 |
| FREEPORT-MCMORAN INC | [FCX](https://holderbook.com/stocks/FCX/) | $43.5M | 691,546 | 0.9% | 1 |
| CSX CORP | [CSX](https://holderbook.com/stocks/CSX/) | $43.2M | 908,799 | 0.9% | 3 |
| FEDEX FGHT HLDG CO INC | - | $41.9M | 277,234 | 0.8% | 1 |
| ANTERO RESOURCES CORP | [AR](https://holderbook.com/stocks/AR/) | $41.6M | 1,184,416 | 0.8% | 1 |
| NEBIUS GROUP N.V. | [NBIS](https://holderbook.com/stocks/NBIS/) | $40.5M | 146,543 | 0.8% | 1 |
| REGAL REXNORD CORPORATION | [RRX](https://holderbook.com/stocks/RRX/) | $38.9M | 163,233 | 0.8% | 1 |
| CHENIERE ENERGY INC | [LNG](https://holderbook.com/stocks/LNG/) | $38.3M | 160,123 | 0.8% | 1 |
| DT MIDSTREAM INC | [DTM](https://holderbook.com/stocks/DTM/) | $37.9M | 258,344 | 0.7% | 2 |
| HUT 8 CORP | [HUT](https://holderbook.com/stocks/HUT/) | $37.9M | 328,319 | 0.7% | 3 |
| EQT CORP | [EQT](https://holderbook.com/stocks/EQT/) | $37.7M | 709,535 | 0.7% | 8 |
| NORFOLK SOUTHN CORP | [NSC](https://holderbook.com/stocks/NSC/) | $37.6M | 119,479 | 0.7% | 1 |
| STMICROELECTRONICS N V | [STM](https://holderbook.com/stocks/STM/) | $37.1M | 495,223 | 0.7% | 1 |
| TARGA RES CORP | [TRGP](https://holderbook.com/stocks/TRGP/) | $36.8M | 137,392 | 0.7% | 3 |
| PRIMORIS SVCS CORP | [PRIM](https://holderbook.com/stocks/PRIM/) | $36.4M | 366,972 | 0.7% | 1 |
| ATI INC | [ATI](https://holderbook.com/stocks/ATI/) | $35.5M | 180,204 | 0.7% | 1 |
| CUMMINS INC | [CMI](https://holderbook.com/stocks/CMI/) | $34.9M | 48,996 | 0.7% | 1 |
| BP PLC | [BP](https://holderbook.com/stocks/BP/) | $34.8M | 942,850 | 0.7% | 7 |
| BLACK HILLS CORP | [BKH](https://holderbook.com/stocks/BKH/) | $34.1M | 458,430 | 0.7% | 3 |
| PLAINS GP HLDGS L P | [PAGP](https://holderbook.com/stocks/PAGP/) | $32.9M | 1,354,670 | 0.6% | 2 |
| AMEREN CORP | [AEE](https://holderbook.com/stocks/AEE/) | $32.1M | 284,065 | 0.6% | 9 |
| DPC HOLDINGS PLC | [DPC](https://holderbook.com/stocks/DPC/) | $30.0M | 619,542 | 0.6% | 1 |
| UNION PAC CORP | [UNP](https://holderbook.com/stocks/UNP/) | $29.4M | 108,219 | 0.6% | 1 |
| CLEVELAND-CLIFFS INC NEW | [CLF](https://holderbook.com/stocks/CLF/) | $28.6M | 2,345,191 | 0.6% | 1 |
| TRANSALTA CORP | [TAC](https://holderbook.com/stocks/TAC/) | $28.6M | 2,065,064 | 0.6% | 14 |
| DEERE & CO | [DE](https://holderbook.com/stocks/DE/) | $28.0M | 44,193 | 0.6% | 1 |
| CIPHER DIGITAL INC | [CIFR](https://holderbook.com/stocks/CIFR/) | $26.7M | 1,091,463 | 0.5% | 1 |
| VALERO ENERGY CORP | [VLO](https://holderbook.com/stocks/VLO/) | $26.3M | 101,156 | 0.5% | 1 |
| SOLV ENERGY INC | [MWH](https://holderbook.com/stocks/MWH/) | $25.5M | 750,000 | 0.5% | 2 |
| VIPER ENERGY INC | [VNOM](https://holderbook.com/stocks/VNOM/) | $23.5M | 555,319 | 0.5% | 2 |
| XPLR INFRASTRUCTURE LP | [XIFR](https://holderbook.com/stocks/XIFR/) | $23.0M | 1,944,751 | 0.5% | 7 |
| CONOCOPHILLIPS | [COP](https://holderbook.com/stocks/COP/) | $22.9M | 220,427 | 0.5% | 2 |
| SHELL PLC | [SHEL](https://holderbook.com/stocks/SHEL/) | $22.5M | 290,199 | 0.4% | 16 |
| BARRICK MNG CORP | [B](https://holderbook.com/stocks/B/) | $21.8M | 593,232 | 0.4% | 3 |
| SPIRE INC | [SR](https://holderbook.com/stocks/SR/) | $20.7M | 265,458 | 0.4% | 2 |
| TAMBORAN RES CORP | [TBN](https://holderbook.com/stocks/TBN/) | $20.3M | 623,534 | 0.4% | 9 |
| DARLING INGREDIENTS INC | [DAR](https://holderbook.com/stocks/DAR/) | $19.7M | 359,999 | 0.4% | 2 |
| AES CORP | [AES](https://holderbook.com/stocks/AES/) | $19.4M | 1,323,277 | 0.4% | 5 |
| SOLSTICE ADVANCED MATLS INC | [SOLS](https://holderbook.com/stocks/SOLS/) | $18.6M | 209,487 | 0.4% | 1 |
| MGE ENERGY INC | [MGEE](https://holderbook.com/stocks/MGEE/) | $16.3M | 200,000 | 0.3% | 1 |
| EQUINOR ASA | [EQNR](https://holderbook.com/stocks/EQNR/) | $15.7M | 0 | 0.3% | 2 |
| USA RARE EARTH INC | [USAR](https://holderbook.com/stocks/USAR/) | $15.1M | 700,000 | 0.3% | 2 |
| RICE ACQUISITION CORP 3 | [KRSP](https://holderbook.com/stocks/KRSP/) | $15.0M | 1,425,829 | 0.3% | 3 |
| KARBON CAP PARTNERS CORP | [KBON](https://holderbook.com/stocks/KBON/) | $14.8M | 1,470,000 | 0.3% | 2 |
| EXCELERATE ENERGY INC | [EE](https://holderbook.com/stocks/EE/) | $14.8M | 390,353 | 0.3% | 2 |
| FERVO ENERGY CO | [FRVO](https://holderbook.com/stocks/FRVO/) | $14.6M | 500,000 | 0.3% | 1 |
| KODIAK GAS SVCS INC | [KGS](https://holderbook.com/stocks/KGS/) | $14.3M | 190,000 | 0.3% | 1 |
| ROCKWELL AUTOMATION INC | [ROK](https://holderbook.com/stocks/ROK/) | $14.3M | 28,793 | 0.3% | 1 |
| INNIO NV | [INIO](https://holderbook.com/stocks/INIO/) | $13.8M | 350,000 | 0.3% | 1 |
| GOLAR LNG LTD | [GLNG](https://holderbook.com/stocks/GLNG/) | $13.1M | 262,547 | 0.3% | 1 |
| FTAI AVIATION LTD | [FTAI](https://holderbook.com/stocks/FTAI/) | $13.1M | 48,251 | 0.3% | 1 |
| PURECYCLE TECHNOLOGIES INC | [PCT](https://holderbook.com/stocks/PCT/) | $12.7M | 1,566,684 | 0.3% | 1 |
| VENTURE GLOBAL INC | [VG](https://holderbook.com/stocks/VG/) | $11.5M | 0 | 0.2% | 1 |
| EAGLEROCK LD LLC | - | $11.4M | 535,716 | 0.2% | 1 |
| ALUSSA ENERGY ACQUISIT CORP | [ALUB](https://holderbook.com/stocks/ALUB/) | $11.0M | 1,100,080 | 0.2% | 2 |
| TALON CAP CORP | [TLNCU](https://holderbook.com/stocks/TLNCU/) | $10.5M | 1,000,000 | 0.2% | 4 |
| CENTURY ALUM CO | [CENX](https://holderbook.com/stocks/CENX/) | $10.3M | 223,861 | 0.2% | 2 |
| CAMECO CORP | [CCJ](https://holderbook.com/stocks/CCJ/) | $10.2M | 0 | 0.2% | 1 |
| SUNSHINE SILVER MNG & REFNG | - | $9.9M | 750,000 | 0.2% | 1 |
| YESWAY INC | [YSWY](https://holderbook.com/stocks/YSWY/) | $8.9M | 437,375 | 0.2% | 1 |
| TARGET HOSPITALITY CORP | [TH](https://holderbook.com/stocks/TH/) | $8.9M | 435,097 | 0.2% | 1 |
| INFINITY NAT RES INC | [INR](https://holderbook.com/stocks/INR/) | $8.3M | 654,255 | 0.2% | 6 |
| NORTHWESTERN ENERGY GROUP IN | [NWE](https://holderbook.com/stocks/NWE/) | $7.9M | 110,131 | 0.2% | 5 |
| TECK RESOURCES LTD | [TECK](https://holderbook.com/stocks/TECK/) | $7.6M | 128,432 | 0.2% | 3 |
| NEXTDECADE CORP | [NEXT](https://holderbook.com/stocks/NEXT/) | $7.6M | 1,003,907 | 0.1% | 14 |
| X-ENERGY INC | [XE](https://holderbook.com/stocks/XE/) | $7.3M | 400,000 | 0.1% | 1 |
| COHERENT CORP | [COHR](https://holderbook.com/stocks/COHR/) | $7.2M | 18,140 | 0.1% | 3 |
| SELECT WATER SOLUTIONS INC | [WTTR](https://holderbook.com/stocks/WTTR/) | $6.6M | 331,852 | 0.1% | 1 |
| BITDEER TECHNOLOGIES GROUP | [BTDR](https://holderbook.com/stocks/BTDR/) | $6.4M | 401,909 | 0.1% | 1 |
| LUMENTUM HLDGS INC | [LITE](https://holderbook.com/stocks/LITE/) | $6.0M | 6,935 | 0.1% | 2 |
| KIMBELL RTY PARTNERS LP | [KRP](https://holderbook.com/stocks/KRP/) | $5.3M | 364,866 | 0.1% | 6 |
| AURORA INNOVATION INC | [AUR](https://holderbook.com/stocks/AUR/) | $5.1M | 750,000 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | +2.1% | +14.8% | -12.7% | 94% |
| Q1 2026 | +19.9% | -4.6% | +24.5% | 95% |
| Q4 2025 | +1.5% | +2.4% | -0.8% | 93% |
| Q3 2025 | +7.5% | +7.8% | -0.3% | 91% |
| Q2 2025 | +4.1% | +10.5% | -6.3% | 94% |
| Q1 2025 | +1.0% | -4.6% | +5.6% | 88% |
| Q4 2024 | +3.5% | +2.1% | +1.3% | 97% |
| Q3 2024 | +5.9% | +5.4% | +0.4% | 90% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $5.1B | 120 |
| Q1 2026 | $3.2B | 94 |
| Q4 2025 | $2.8B | 106 |
| Q3 2025 | $2.6B | 104 |
| Q2 2025 | $2.2B | 106 |
| Q1 2025 | $2.0B | 82 |
| Q4 2024 | $2.4B | 102 |
| Q3 2024 | $1.8B | 87 |
| Q2 2024 | $2.0B | 92 |
| Q1 2024 | $2.0B | 94 |
| Q4 2023 | $1.2B | 94 |
| Q3 2023 | $1.1B | 105 |