Arosa Capital Management LP In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Arosa Capital Management LP reported 33 stock positions worth $150.7 million . Its top holding was GE Vernova (GEV) at 11.6% of the portfolio, followed by Cameco (CCJ, 9.3% ) and Mirion Technologies (MIR, 8.4% ). Compared with Q4 2024, it opened 11 new positions, sold out of 9, added to 12 and reduced 9. The biggest buy was a new position in Mastec (MTZ) and the biggest sale Primoris Services (PRIM, shares −57% ).
Location MIAMI BEACH, FL
CIK 0001596053
Portfolio Value $150.7M (Q1 2025) Holdings 33 stocks · $150.7M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 GEV GE Vernova Inc. 57,200 $17.5M Add +24.4% CCJ Cameco Corp. 339,300 $14.0M Add +22.9% MIR Mirion Technologies Inc. 868,261 $12.6M Add +76.1% MTZ Mastec Inc. 91,000 $10.6M New FSLR First Solar Inc. 78,200 $9.9M Add +58.0% ETN Eaton Corp. PLC 30,400 $8.3M Reduce -5.0% ITRI Itron Inc. 76,000 $8.0M New AMTM Amentum Holdings Inc. 406,900 $7.4M Add +16.3% CWEN Clearway Energy Inc. Class C 239,700 $7.3M Reduce -11.3% AGX Argan Inc. 48,400 $6.3M New SHLS Shoals Technologies Group -A 1,465,193 $4.9M Add +30.6% LEU Centrus Energy Corp. Class A 57,400 $3.6M Add +53.1% PRIM Primoris Services Corp. 61,350 $3.5M Reduce -57.3% NXE Nexgen Energy Ltd. 678,100 $3.0M Add +4.3% VNOM Viper Energy Inc. 66,000 $3.0M Add +37.5% WMB Williams Cos Inc. 45,000 $2.7M New BKR Baker Hughes Co. 58,000 $2.5M Reduce -17.1% PWR Quanta Services Inc. 10,000 $2.5M New EXE Expand Energy Corp. 22,000 $2.4M Add +83.3% RACE Ferrari NV 4,800 $2.1M Reduce -46.7% TRGP Targa Resources Corp. 10,000 $2.0M Reduce -2.0% NXPI NXP Semiconductors NV 10,000 $1.9M Add +38.9% DNN Denison Mines Corp. 1,460,600 $1.9M Add +82.6% VST Vistra Corp. 15,600 $1.8M New MPC Marathon Petroleum Corp. 12,000 $1.7M New PR Permian Resources Corp. Class A 120,000 $1.7M Reduce -6.3% WCN Waste Connections Inc. 8,000 $1.6M No change LNG Cheniere Energy Inc. 5,600 $1.3M New EQT Eqt Corp. 22,000 $1.2M Reduce -8.3% CTRA Coterra Energy Inc. 40,000 $1.2M New BWXT BWX Technologies Inc. 11,000 $1.1M New GPI Group 1 Automotive Inc. 2,400 $917K Reduce -33.3% AR Antero Resources Corp. 10,000 $404K New
Options reported separately and not counted above: ETN calls ($35.1M), CCJ calls ($26.8M), PWR calls ($12.7M), GEV calls ($12.2M), QQQ puts ($12.2M), SPY calls ($10.1M), LEU calls ($4.7M), APTV calls ($3.6M), EXE puts ($2.8M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $32K (not counted above) Security Class Shares / Principal Value Change NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 106,249 $32K No change
Total filed on the 13F, all lines: $150.7M.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ PRIM Primoris Services Corp. Reduce -57.3% 2.34% −4.97 OKLO Oklo Inc. Sold out 0.00% −4.95 NPWR Net Power Inc. Sold out 0.00% −4.12 ENS Enersys Sold out 0.00% −3.93 HASI Ha Sustainable Infrastructur Sold out 0.00% −2.68 TTEK Tetra Tech Inc. Sold out 0.00% −1.99 DQ Daqo New Energy Corp.-ADR Sold out 0.00% −1.94 ETN Eaton Corp. PLC Reduce -5.0% 5.48% −1.59 FLNC Fluence Energy Inc. Sold out 0.00% −1.59 RACE Ferrari NV Reduce -46.7% 1.36% −1.18 AN Autonation Inc. Sold out 0.00% −0.68 CNQ Canadian Natural Resources Sold out 0.00% −0.58 GPI Group 1 Automotive Inc. Reduce -33.3% 0.61% −0.40 BKR Baker Hughes Co. Reduce -17.1% 1.69% −0.22 PR Permian Resources Corp. Class A Reduce -6.3% 1.10% −0.12 EQT Eqt Corp. Reduce -8.3% 0.78% +0.04 TRGP Targa Resources Corp. Reduce -2.0% 1.33% +0.12 CWEN Clearway Energy Inc. Class C Reduce -11.3% 4.82% +0.14
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ MTZ Mastec Inc. New 7.05% +7.05 ITRI Itron Inc. New 5.28% +5.28 AGX Argan Inc. New 4.21% +4.21 MIR Mirion Technologies Inc. Add +76.1% 8.36% +2.63 WMB Williams Cos Inc. New 1.78% +1.78 PWR Quanta Services Inc. New 1.69% +1.69 GEV GE Vernova Inc. Add +24.4% 11.59% +1.51 VST Vistra Corp. New 1.22% +1.22 MPC Marathon Petroleum Corp. New 1.16% +1.16 LNG Cheniere Energy Inc. New 0.86% +0.86 EXE Expand Energy Corp. Add +83.3% 1.63% +0.83 CTRA Coterra Energy Inc. New 0.77% +0.77 FSLR First Solar Inc. Add +58.0% 6.56% +0.75 BWXT BWX Technologies Inc. New 0.72% +0.72 LEU Centrus Energy Corp. Class A Add +53.1% 2.37% +0.71 VNOM Viper Energy Inc. Add +37.5% 1.98% +0.41 DNN Denison Mines Corp. Add +82.6% 1.26% +0.30 AR Antero Resources Corp. New 0.27% +0.27 NXPI NXP Semiconductors NV Add +38.9% 1.26% +0.26 AMTM Amentum Holdings Inc. Add +16.3% 4.92% +0.01 CCJ Cameco Corp. Add +22.9% 9.27% −0.18 NXE Nexgen Energy Ltd. Add +4.3% 2.02% −0.84 SHLS Shoals Technologies Group -A Add +30.6% 3.23% −0.90
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ ETN Eaton Corp. PLC call New 129,000 $35.1M CCJ Cameco Corp. call Add +62.5% 650,000 $26.8M FSLR First Solar Inc. call Sold out 120,000 $21.1Mbefore exit ICLN iShares Global Clean Energy put Sold out 1,300,000 $14.8Mbefore exit PWR Quanta Services Inc. call New 50,000 $12.7M GEV GE Vernova Inc. call New 40,000 $12.2M QQQ Invesco QQQ Trust Series 1 put New 26,000 $12.2M SPY SS SPDR S&P 500 ETF Trust-US call New 18,000 $10.1M ETN Eaton Corp. PLC put Sold out 27,500 $9.1Mbefore exit OKLO Oklo Inc. call Sold out 375,000 $8.0Mbefore exit XOP SS SPDR S&P Og Exp & Prod call Sold out 56,000 $7.4Mbefore exit OIH Vaneck Oil Services ETF call Sold out 25,000 $6.8Mbefore exit URA Global X Uranium ETF put Sold out 175,000 $4.7Mbefore exit LEU Centrus Energy Corp. Class A call New 75,000 $4.7M NXE Nexgen Energy Ltd. call Sold out 700,000 $4.6Mbefore exit APTV Aptiv PLC call New 60,000 $3.6M EXE Expand Energy Corp. put New 25,000 $2.8M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2024 → Q1 2025 Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 19 $113.4M VICR, MPWR, POWI, Q, WMB Q1 2026 46 $152.1M VICR, ECG, BW, CCJ, NXT Q4 2025 52 $155.2M VICR, ORA, BE, WMB, ETN Q3 2025 41 $61.6M NXPI, CEG, RACE, CCJ, BWXT Q2 2025 37 $135.9M CCJ, CTRI, IMSR, ECG, AMTM Q1 2025 33 $150.7M GEV, CCJ, MIR, MTZ, FSLR Q4 2024 31 $150.2M GEV, CCJ, PRIM, ETN, FSLR Q3 2024 27 $141.0M GEV, NXT, CLNE, FSLR, CWEN Q2 2024 Amended 28 $128.2M GEV, ENS, CLNE, PWR, CWEN Q1 2024 31 $147.1M NVT, SHLS, CLNE, PWR, PRIM