Arosa Capital Management LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Arosa Capital Management LP reported 37 stock positions worth $135.9 million . Its top holding was Cameco (CCJ) at 12.8% of the portfolio, followed by Centuri (CTRI, 5.0% ) and Terrestrial Energy (IMSR, 4.6% ). Compared with Q1 2025, it opened 13 new positions, sold out of 9, added to 9 and reduced 15. The biggest buy was a new position in Centuri (CTRI) and the biggest sale an exit from GE Vernova (GEV).
Location MIAMI BEACH, FL
CIK 0001596053
Portfolio Value $135.9M (Q2 2025) Holdings 37 stocks · $135.9M 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 Q1 2025 CCJ Cameco Corp. 233,600 $17.3M Reduce -31.1% CTRI Centuri Holdings Inc. 300,000 $6.7M New IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP 560,000 $6.2M New ECG Everus Construction Group 97,000 $6.2M New AMTM Amentum Holdings Inc. 252,500 $6.0M Reduce -38.0% RACE Ferrari NV 11,000 $5.4M Add +129.2% NXPI NXP Semiconductors NV 24,000 $5.2M Add +140.0% VST Vistra Corp. 27,000 $5.2M Add +73.1% TRGP Targa Resources Corp. 28,700 $5.0M Add +187.0% WMB Williams Cos Inc. 79,000 $5.0M Add +75.6% NXE Nexgen Energy Ltd. 714,200 $5.0M Add +5.3% IREN Iren Ltd. filed as IREN LIMITED 325,000 $4.7M New CORZ Core Scientific Inc. 250,000 $4.3M New EQT Eqt Corp. 72,000 $4.2M Add +227.3% LTBR Lightbridge Corp. 300,000 $4.0M New ITRI Itron Inc. 30,000 $3.9M Reduce -60.5% MIR Mirion Technologies Inc. 180,273 $3.9M Reduce -79.2% ETN Eaton Corp. PLC 10,000 $3.6M Reduce -67.1% MTZ Mastec Inc. 20,000 $3.4M Reduce -78.0% FLNC Fluence Energy Inc. 500,000 $3.4M New CEG Constellation Energy 10,000 $3.2M New GPI Group 1 Automotive Inc. 6,600 $2.9M Add +175.0% EXE Expand Energy Corp. 21,000 $2.5M Reduce -4.5% DNN Denison Mines Corp. 1,285,200 $2.3M Reduce -12.0% TLN Talen Energy Corp. 7,000 $2.0M New CWEN Clearway Energy Inc. Class C 63,000 $2.0M Reduce -73.7% VNOM Viper Energy Inc. 50,000 $1.9M Reduce -24.2% VRT Vertiv Holdings Co. Class A 14,000 $1.8M New CIFR Cipher Digital Inc. 300,000 $1.4M New BWXT BWX Technologies Inc. 8,000 $1.2M Reduce -27.3% ISOU Isoenergy Ltd. 160,425 $1.1M New MPC Marathon Petroleum Corp. 6,000 $997K Reduce -50.0% AGX Argan Inc. 4,500 $992K Reduce -90.7% LEU Centrus Energy Corp. Class A 5,338 $978K Reduce -90.7% AR Antero Resources Corp. 20,000 $806K Add +100.0% FSLR First Solar Inc. 4,400 $728K Reduce -94.4% ICLN iShares Global Clean Energy 32,945 $432K New
Options reported separately and not counted above: XLI puts ($66.4M), CCJ calls ($54.6M), VST calls ($52.3M), TLN calls ($42.2M), ETN calls ($28.6M), FSLR calls ($28.1M), TAN calls ($20.6M), IREN calls ($16.0M), QQQ puts ($13.8M), RIOT calls ($13.6M), CORZ calls ($10.2M), NXE calls ($8.7M), and 9 more.
Other holdings (2): bonds, preferreds, convertibles and warrants · $1.1M (not counted above) Security Class Shares / Principal Value Change IMSRW HCM II Acquisition Corp. - 29 *W EXP 99/99/999 450,000 $1.1M New NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 106,249 $35K No change
Total filed on the 13F, all lines: $137.0M.
Portfolio Sells Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▲ GEV GE Vernova Inc. Sold out 0.00% −11.59 FSLR First Solar Inc. Reduce -94.4% 0.54% −6.03 MIR Mirion Technologies Inc. Reduce -79.2% 2.86% −5.50 MTZ Mastec Inc. Reduce -78.0% 2.51% −4.54 AGX Argan Inc. Reduce -90.7% 0.73% −3.48 CWEN Clearway Energy Inc. Class C Reduce -73.7% 1.48% −3.33 SHLS Shoals Technologies Group -A Sold out 0.00% −3.23 ETN Eaton Corp. PLC Reduce -67.1% 2.63% −2.86 ITRI Itron Inc. Reduce -60.5% 2.91% −2.38 PRIM Primoris Services Corp. Sold out 0.00% −2.34 BKR Baker Hughes Co. Sold out 0.00% −1.69 PWR Quanta Services Inc. Sold out 0.00% −1.69 LEU Centrus Energy Corp. Class A Reduce -90.7% 0.72% −1.65 PR Permian Resources Corp. Class A Sold out 0.00% −1.10 WCN Waste Connections Inc. Sold out 0.00% −1.04 LNG Cheniere Energy Inc. Sold out 0.00% −0.86 CTRA Coterra Energy Inc. Sold out 0.00% −0.77 VNOM Viper Energy Inc. Reduce -24.2% 1.40% −0.57 AMTM Amentum Holdings Inc. Reduce -38.0% 4.39% −0.53 MPC Marathon Petroleum Corp. Reduce -50.0% 0.73% −0.43 BWXT BWX Technologies Inc. Reduce -27.3% 0.85% +0.13 EXE Expand Energy Corp. Reduce -4.5% 1.81% +0.18 DNN Denison Mines Corp. Reduce -12.0% 1.72% +0.46 CCJ Cameco Corp. Reduce -31.1% 12.76% +3.49
Portfolio Buys Q1 2025 → Q2 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 Q1 2025 % Of Portfolio Change To Portfolio ▼ CTRI Centuri Holdings Inc. New 4.95% +4.95 IMSR Terrestrial Energy Inc. New 4.57% +4.57 ECG Everus Construction Group New 4.53% +4.53 IREN Iren Ltd. New 3.48% +3.48 CORZ Core Scientific Inc. New 3.14% +3.14 LTBR Lightbridge Corp. New 2.95% +2.95 VST Vistra Corp. Add +73.1% 3.85% +2.63 RACE Ferrari NV Add +129.2% 3.97% +2.61 NXPI NXP Semiconductors NV Add +140.0% 3.86% +2.60 FLNC Fluence Energy Inc. New 2.47% +2.47 CEG Constellation Energy New 2.38% +2.38 TRGP Targa Resources Corp. Add +187.0% 3.68% +2.35 EQT Eqt Corp. Add +227.3% 3.09% +2.31 WMB Williams Cos Inc. Add +75.6% 3.65% +1.87 NXE Nexgen Energy Ltd. Add +5.3% 3.65% +1.63 GPI Group 1 Automotive Inc. Add +175.0% 2.12% +1.51 TLN Talen Energy Corp. New 1.50% +1.50 VRT Vertiv Holdings Co. Class A New 1.32% +1.32 CIFR Cipher Digital Inc. New 1.06% +1.06 ISOU Isoenergy Ltd. New 0.84% +0.84 AR Antero Resources Corp. Add +100.0% 0.59% +0.32 ICLN iShares Global Clean Energy New 0.32% +0.32
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ XLI SS Industrial Select Sector put New 450,000 $66.4M CCJ Cameco Corp. call Add +13.1% 735,000 $54.6M VST Vistra Corp. call New 270,000 $52.3M TLN Talen Energy Corp. call New 145,000 $42.2M ETN Eaton Corp. PLC call Reduce -38.0% 80,000 $28.6M FSLR First Solar Inc. call New 170,000 $28.1M TAN Invesco Solar ETF call New 600,000 $20.6M IREN Iren Ltd. call New 1,100,000 $16.0M QQQ Invesco QQQ Trust Series 1 put Reduce -3.9% 25,000 $13.8M RIOT Riot Platforms Inc. call New 1,200,000 $13.6M PWR Quanta Services Inc. call Sold out 50,000 $12.7Mbefore exit GEV GE Vernova Inc. call Sold out 40,000 $12.2Mbefore exit CORZ Core Scientific Inc. call New 600,000 $10.2M SPY SS SPDR S&P 500 ETF Trust-US call Sold out 18,000 $10.1Mbefore exit NXE Nexgen Energy Ltd. call New 1,250,000 $8.7M ETN Eaton Corp. PLC put New 20,000 $7.1M XLE SS Energy Select Sector put New 80,000 $6.8M CIFR Cipher Digital Inc. call New 1,200,000 $5.7M RUN Sunrun Inc. call New 700,000 $5.7M LEU Centrus Energy Corp. Class A call Sold out 75,000 $4.7Mbefore exit ICLN iShares Global Clean Energy call New 300,000 $3.9M APTV Aptiv PLC call Sold out 60,000 $3.6Mbefore exit EXE Expand Energy Corp. call New 25,000 $2.9M EXE Expand Energy Corp. put Sold out 25,000 $2.8Mbefore exit VRT Vertiv Holdings Co. Class A call New 20,000 $2.6M FLNC Fluence Energy Inc. call New 350,000 $2.3M ENPH Enphase Energy Inc. put New 50,000 $2.0M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2025 → Q2 2025 Security Class Change vs Q1 2025 Shares / Principal Value ▼ IMSRW HCM II Acquisition Corp. - 29 *W EXP 99/99/999 New 450,000 $1.1M
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