Yaupon Capital Management LP

Reported holdings as of Q2 2026, from 31 quarterly filings.

CIK

1755028

Reported value

$5.1B

Positions

120

Top 10 weight

47.0%

Filed

2026-08-14

Days after quarter end

Holdings

Security	Ticker	Value	Shares	Weight	Weight change	Held	Change
STATE STR SPDR S&P 500 ETF T OPT	SPY	$1.4B	options only	28.38%	+7.87pp	4q	OPTIONS
ISHARES TR OPT	TLT	$152.1M	options only	2.99%	-	new	OPTIONS
FIRST SOLAR INC OPT	FSLR	$150.4M	272,379	2.96%	-	new	NEW
NATIONAL FUEL GAS CO OPT	NFG	$143.6M	1,559,618	2.83%	-0.23pp	10q	+49.5%+$47.5M
VISTRA CORP OPT	VST	$90.5M	470,483	1.78%	-0.34pp	2q	+4.2%+$3.6M
DEVON ENERGY CORP NEW	DVN	$86.9M	2,102,988	1.71%	-	new	NEW
NISOURCE INC	NI	$83.2M	1,749,831	1.64%	-0.17pp	3q	+40.8%+$24.1M
OVINTIV INC	OVV	$81.1M	1,540,608	1.60%	-0.43pp	20q	+40.5%+$23.4M
WILLIAMS COS INC	WMB	$80.9M	1,088,549	1.59%	+0.50pp	5q	+126.2%+$45.2M
BKV CORP	BKV	$75.8M	2,768,719	1.49%	-0.32pp	8q	+35.7%+$19.9M
TALEN ENERGY CORP	TLN	$74.4M	193,647	1.47%	+0.68pp	2q	+144.6%+$44.0M
AIR PRODUCTS AND CHEMICALS I OPT	APD	$73.3M	options only	1.44%	-	new	OPTIONS
CENOVUS ENERGY INC	CVE	$71.7M	2,891,599	1.41%	-0.96pp	6q	+1.1%+$781.3K
ENTERGY CORP NEW	ETR	$70.7M	615,956	1.39%	+0.03pp	6q	+224.9%+$49.0M
SELECT SECTOR SPDR TR OPT	XLU	$68.0M	options only	1.34%	-	new	OPTIONS
ONEOK INC NEW OPT	OKE	$65.2M	options only	1.28%	-	new	OPTIONS
MASTEC INC OPT	MTZ	$62.4M	options only	1.23%	-	new	OPTIONS
PERMIAN RESOURCES CORP	PR	$62.0M	3,367,361	1.22%	-0.79pp	14q	+11.4%+$6.3M
PUBLIC SVC ENTERPRISE GROUP	PEG	$57.3M	706,023	1.13%	-0.55pp	3q	+6.0%+$3.3M
DUKE ENERGY CORP NEW	DUK	$56.9M	449,340	1.12%	-0.26pp	8q	+33.0%+$14.1M
AMERICAN ELEC PWR CO INC	AEP	$56.4M	412,431	1.11%	-	new	NEW
FORGENT POWER SOLUTIONS INC	FPS	$55.9M	1,000,000	1.10%	+0.73pp	2q	+150.0%+$33.5M
LEGENCE CORP	LGN	$53.5M	627,256	1.05%	-	new	NEW
H2O AMERICA	HTO	$51.8M	851,846	1.02%	-0.62pp	3q	-4.9%-$2.6M
KINETIK HOLDINGS INC	KNTK	$48.4M	1,002,184	0.95%	-	new	NEW
DTE ENERGY CO	DTE	$45.4M	297,977	0.89%	-0.27pp	18q	+16.6%+$6.5M
HF SINCLAIR CORP	DINO	$44.6M	639,708	0.88%	+0.86pp	6q	+9475.0%+$44.1M
NEXTERA ENERGY INC OPT	NEE	$43.9M	options only	0.86%	-	new	OPTIONS
AMERICAN WTR WKS CO INC NEW	AWK	$43.9M	333,442	0.86%	-2.61pp	6q	+4.9%+$2.0M
FREEPORT-MCMORAN INC	FCX	$43.5M	691,546	0.86%	-	new	NEW
CSX CORP	CSX	$43.2M	908,799	0.85%	-2.16pp	3q	-32.8%-$21.1M
FEDEX FGHT HLDG CO INC		$41.9M	277,234	0.82%	-	new	NEW
ANTERO RESOURCES CORP	AR	$41.6M	1,184,416	0.82%	-	new	NEW
NEBIUS GROUP N.V.	NBIS	$40.5M	146,543	0.80%	-	new	NEW
REGAL REXNORD CORPORATION	RRX	$38.9M	163,233	0.77%	-	new	NEW
CHENIERE ENERGY INC	LNG	$38.3M	160,123	0.75%	-	new	NEW
DT MIDSTREAM INC	DTM	$37.9M	258,344	0.75%	-0.04pp	2q	+38.1%+$10.5M
HUT 8 CORP	HUT	$37.9M	328,319	0.75%	-0.58pp	3q	-63.8%-$66.7M
EQT CORP	EQT	$37.7M	709,535	0.74%	-0.17pp	8q	+53.9%+$13.2M
NORFOLK SOUTHN CORP	NSC	$37.6M	119,479	0.74%	-	new	NEW
STMICROELECTRONICS N V	STM	$37.1M	495,223	0.73%	-	new	NEW
TARGA RES CORP	TRGP	$36.8M	137,392	0.73%	-0.30pp	3q	+5.0%+$1.8M
PRIMORIS SVCS CORP	PRIM	$36.4M	366,972	0.72%	-	new	NEW
ATI INC	ATI	$35.5M	180,204	0.70%	-	new	NEW
CUMMINS INC	CMI	$34.9M	48,996	0.69%	-	new	NEW
BP PLC	BP	$34.8M	942,850	0.69%	-0.71pp	7q	-0.6%-$200.1K
BLACK HILLS CORP	BKH	$34.1M	458,430	0.67%	+0.14pp	3q	+85.9%+$15.8M
PLAINS GP HLDGS L P	PAGP	$32.9M	1,354,670	0.65%	+0.06pp	2q	+74.1%+$14.0M
AMEREN CORP	AEE	$32.1M	284,065	0.63%	-0.75pp	9q	-29.5%-$13.4M
DPC HOLDINGS PLC	DPC	$30.0M	619,542	0.59%	-	new	NEW
UNION PAC CORP	UNP	$29.4M	108,219	0.58%	-	new	NEW
CLEVELAND-CLIFFS INC NEW OPT	CLF	$28.6M	2,345,191	0.56%	-	new	NEW
TRANSALTA CORP	TAC	$28.6M	2,065,064	0.56%	-0.17pp	14q	+15.5%+$3.8M
DEERE & CO	DE	$28.0M	44,193	0.55%	-	new	NEW
CIPHER DIGITAL INC	CIFR	$26.7M	1,091,463	0.53%	-	new	NEW
VALERO ENERGY CORP	VLO	$26.3M	101,156	0.52%	-	new	NEW
SOLV ENERGY INC	MWH	$25.5M	750,000	0.50%	-0.18pp	2q	+3.4%+$851.2K
VIPER ENERGY INC	VNOM	$23.5M	555,319	0.46%	-0.24pp	2q	+16.4%+$3.3M
XPLR INFRASTRUCTURE LP	XIFR	$23.0M	1,944,751	0.45%	-0.26pp	7q	-8.9%-$2.2M
CONOCOPHILLIPS	COP	$22.9M	220,427	0.45%	-0.41pp	2q	+5.0%+$1.1M
SHELL PLC	SHEL	$22.5M	290,199	0.44%	-0.75pp	16q	-29.5%-$9.4M
BARRICK MNG CORP	B	$21.8M	593,232	0.43%	-0.17pp	3q	+26.1%+$4.5M
SPIRE INC	SR	$20.7M	265,458	0.41%	+0.20pp	2q	+253.1%+$14.9M
TAMBORAN RES CORP	TBN	$20.3M	623,534	0.40%	-0.44pp	9q	+16.5%+$2.9M
DARLING INGREDIENTS INC	DAR	$19.7M	359,999	0.39%	+0.20pp	2q	+276.1%+$14.4M
AES CORP	AES	$19.4M	1,323,277	0.38%	-0.67pp	5q	-44.8%-$15.7M
SOLSTICE ADVANCED MATLS INC	SOLS	$18.6M	209,487	0.37%	-	new	NEW
MGE ENERGY INC	MGEE	$16.3M	200,000	0.32%	-	new	NEW
EQUINOR ASA OPT	EQNR	$15.7M	options only	0.31%	-0.35pp	2q	OPTIONS
USA RARE EARTH INC	USAR	$15.1M	700,000	0.30%	-0.03pp	2q	HELD
RICE ACQUISITION CORP 3	KRSP	$15.0M	1,425,829	0.29%	-0.16pp	3q	HELD
KARBON CAP PARTNERS CORP	KBON	$14.8M	1,470,000	0.29%	-0.17pp	2q	HELD
EXCELERATE ENERGY INC	EE	$14.8M	390,353	0.29%	+0.09pp	2q	+98.2%+$7.3M
FERVO ENERGY CO	FRVO	$14.6M	500,000	0.29%	-	new	NEW
KODIAK GAS SVCS INC	KGS	$14.3M	190,000	0.28%	-	new	NEW
ROCKWELL AUTOMATION INC	ROK	$14.3M	28,793	0.28%	-	new	NEW
INNIO NV	INIO	$13.8M	350,000	0.27%	-	new	NEW
GOLAR LNG LTD	GLNG	$13.1M	262,547	0.26%	-	new	NEW
FTAI AVIATION LTD	FTAI	$13.1M	48,251	0.26%	-	new	NEW
PURECYCLE TECHNOLOGIES INC	PCT	$12.7M	1,566,684	0.25%	-	new	NEW
VENTURE GLOBAL INC OPT	VG	$11.5M	options only	0.23%	-	new	OPTIONS
EAGLEROCK LD LLC		$11.4M	535,716	0.22%	-	new	NEW
ALUSSA ENERGY ACQUISIT CORP	ALUB	$11.0M	1,100,080	0.22%	-0.13pp	2q	HELD
TALON CAP CORP	TLNCU	$10.5M	1,000,000	0.21%	-0.12pp	4q	HELD
CENTURY ALUM CO	CENX	$10.3M	223,861	0.20%	-0.18pp	2q	+6.0%+$582.5K
CAMECO CORP OPT	CCJ	$10.2M	options only	0.20%	-	new	OPTIONS
SUNSHINE SILVER MNG & REFNG		$9.9M	750,000	0.20%	-	new	NEW
YESWAY INC	YSWY	$8.9M	437,375	0.17%	-	new	NEW
TARGET HOSPITALITY CORP	TH	$8.9M	435,097	0.17%	-	new	NEW
INFINITY NAT RES INC	INR	$8.3M	654,255	0.16%	-0.14pp	6q	+20.2%+$1.4M
NORTHWESTERN ENERGY GROUP IN	NWE	$7.9M	110,131	0.16%	-0.06pp	5q	+5.0%+$373.1K
TECK RESOURCES LTD	TECK	$7.6M	128,432	0.15%	-0.05pp	3q	+5.0%+$361.2K
NEXTDECADE CORP	NEXT	$7.6M	1,003,907	0.15%	-0.34pp	14q	HELD
X-ENERGY INC	XE	$7.3M	400,000	0.14%	-	new	NEW
COHERENT CORP	COHR	$7.2M	18,140	0.14%	-0.73pp	3q	-84.5%-$38.9M
SELECT WATER SOLUTIONS INC	WTTR	$6.6M	331,852	0.13%	-	new	NEW
BITDEER TECHNOLOGIES GROUP	BTDR	$6.4M	401,909	0.13%	-	new	NEW
LUMENTUM HLDGS INC	LITE	$6.0M	6,935	0.12%	-0.37pp	2q	-68.8%-$13.1M
KIMBELL RTY PARTNERS LP	KRP	$5.3M	364,866	0.10%	-0.13pp	6q	-29.2%-$2.2M
AURORA INNOVATION INC	AUR	$5.1M	750,000	0.10%	-	new	NEW
PURECYCLE TECHNOLOGIES INC		$5.1M	5,000	0.10%	-	new	DEBT
HENNESSY CAP INVTS CORP VIII	HCIC	$5.0M	500,000	0.10%	-0.06pp	2q	HELD
TXNM ENERGY INC	TXNM	$4.8M	83,808	0.09%	-0.23pp	13q	-52.1%-$5.2M
CRESCENT ENERGY COMPANY	CRGY	$3.9M	400,211	0.08%	-	new	NEW
EROCK INC	EROC	$3.6M	250,000	0.07%	-	new	NEW
QUANTINUUM INC	QNT	$3.3M	40,000	0.06%	-	new	NEW
CANTOR EQUITY PARTNERS IV IN	CEPF	$3.2M	312,094	0.06%	-0.04pp	4q	HELD
TERAWULF INC	WULF	$3.1M	125,000	0.06%	-	new	NEW
WOLFSPEED INC	WOLF	$3.0M	61,427	0.06%	+0.02pp	3q	-19.9%-$735.5K
CADELER A S	CDLR	$2.2M	101,284	0.04%	-0.03pp	9q	+5.4%+$112.9K
SPARK I ACQUISITION CORP	SPKL	$2.0M	156,250	0.04%	-	new	NEW
OPAL FUELS INC	OPAL	$1.8M	810,183	0.04%	-0.03pp	15q	+3.8%+$64.9K
SABLE OFFSHORE CORP	SOC	$770.0K	250,000	0.02%	-	new	NEW
RICE ACQUISITION CORP 3	KRSPWS	$235.3K	237,637	0.00%	flat	3q	HELD
PYROPHYTE ACQUISITION CORP.	PAII	$211.2K	20,708	0.00%	flat	4q	HELD
KARBON CAP PARTNERS CORP	KBONW	$198.8K	367,499	0.00%	flat	2q	HELD
ALUSSA ENERGY ACQUISIT CORP	ALUBWS	$146.5K	366,666	0.00%	flat	2q	HELD
CANTOR EQUITY PARTNERS V INC	CEPV	$105.7K	10,251	0.00%	flat	3q	HELD
HENNESSY CAP INVTS CORP VIII	HCICR	$80.5K	500,000	0.00%	flat	2q	HELD
PYROPHYTE ACQUISITION CORP.	PAIIWS	$5.2K	10,354	0.00%	flat	4q	HELD

By sector

Industry comes from the SIC code on each company's own SEC filings, which is self-reported and sometimes out of date. Derivative exposure is counted with the shares. Securities the SEC assigns no industry - funds, trusts, foreign issues - are shown as not classified rather than dropped.

Sector	Value	Share
Funds & ETFs	$1.4B	28.4%
Energy	$1.2B	23.0%
Utilities	$785.9M	15.5%
Semiconductors & Electronics	$252.3M	5.0%
Transport & Logistics	$203.0M	4.0%
Construction & Building	$177.8M	3.5%
Mining & Metals	$172.6M	3.4%
Chemicals	$104.6M	2.1%
Industrials	$101.9M	2.0%
Other sectors	$244.8M	4.8%
Not classified	$426.8M	8.4%

Quarter by quarter

Quarter	Value	Positions	New	Added	Trimmed	Exited	Top 10	Days to file
Q2 2026	$5.1B	120	54	36	13	28	47.0%	45
Q1 2026	$3.2B	94	37	20	29	49	47.2%	45
Q4 2025	$2.8B	106	45	26	25	43	32.6%	48
Q3 2025	$2.6B	104	46	34	18	48	35.1%	45
Q2 2025	$2.2B	106	50	14	29	26	25.1%	45
Q1 2025	$2.0B	82	31	21	24	51	33.7%	45
Q4 2024	$2.4B	102	44	22	33	29	35.0%	45
Q3 2024	$1.8B	87	30	33	19	35	29.8%	45
Q2 2024	$2.0B	92	34	19	27	36	38.2%	45
Q1 2024	$2.0B	94	41	20	26	41	41.7%	45
Q4 2023	$1.2B	94	25	29	25	36	36.7%	45
Q3 2023	$1.1B	105	43	28	23	30	33.2%	45
Q2 2023	$784.5M	92	28	31	22	40	32.8%	151
Q1 2023	$829.3M	104	44	17	29	30	39.9%	242
Q4 2022	$635.2M	90	32	31	10	25	33.8%	332
Q3 2022	$466.1M	83	32	15	15	21	49.2%	45
Q2 2022	$284.3M	72	26	22	5	18	43.6%	46
Q1 2022	$184.5M	64	24	8	12	29	39.0%	46
Q4 2021	$178.1M	69	32	14	5	24	38.3%	45
Q3 2021	$169.7M	61	38	8	9	30	46.2%	134
Q2 2021	$180.9M	53	20	11	5	28	52.8%	47
Q1 2021	$117.7M	61	37	4	15	22	49.5%	47
Q4 2020	$185.7M	46	28	10	7	13	62.0%	47
Q3 2020	$82.3M	31	13	1	17	11	67.6%	44
Q2 2020	$119.1M	29	9	14	2	7	56.2%	45
Q1 2020	$62.7M	27	8	6	8	10	71.0%	45
Q4 2019	$159.4M	29	9	7	7	16	58.0%	45
Q3 2019	$147.6M	36	18	1	11	22	63.1%	45
Q2 2019	$346.3M	40	19	11	8	12	59.2%	45
Q1 2019	$196.4M	33	15	5	13	9	64.3%	45
Q4 2018	$150.6M	27	0	0	0	0	63.1%	45

Rows marked UNVERIFIED ID, PLACEHOLDER ID, TICKER AS ID or NON-CUSIP ID carry an identifier that is not a valid CUSIP. They are shown because the filer reported that money, but treat the security named with caution - hover the chip for what is wrong with it, and see the methodology.

Held counts consecutive filings in which this manager reported the position, and can reach further back than the quarters listed above: the tabs begin at Q4 2018 because earlier coverage is too sparse to describe a market, but tenure is counted over every filing we hold, some reaching to 2007. A position sold and later rebought starts again from one.

Weight change is the shift in this position's share of the whole book, in percentage points. It is the more useful column: when money flows into or out of a broad fund, almost every holding is bought or sold at once, so added and trimmed largely track flows. A weight that rose while the book shrank is a decision. Both compare with the previous quarter this filer reported, not the previous calendar quarter.