Arosa Capital Management LP In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Arosa Capital Management LP reported 41 stock positions worth $61.6 million . Its top holding was NXP Semiconductors (NXPI) at 8.5% of the portfolio, followed by Constellation Energy (CEG, 5.6% ) and Ferrari (RACE, 5.5% ). Compared with Q2 2025, it opened 20 new positions, sold out of 16, added to 3 and reduced 18. The biggest buy was a new position in Tecogen Inc./Waltham Ma (TGEN) and the biggest sale Cameco (CCJ, shares −84% ).
Location MIAMI BEACH, FL
CIK 0001596053
Portfolio Value $61.6M (Q3 2025) Holdings 41 stocks · $61.6M 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 Q2 2025 NXPI NXP Semiconductors NV 23,000 $5.2M Reduce -4.2% CEG Constellation Energy 10,500 $3.5M Add +5.0% RACE Ferrari NV 7,000 $3.4M Reduce -36.4% CCJ Cameco Corp. 38,000 $3.2M Reduce -83.7% BWXT BWX Technologies Inc. 16,000 $2.9M Add +100.0% TGEN Tecogen Inc./Waltham Ma 287,500 $2.5M New WMB Williams Cos Inc. 38,000 $2.4M Reduce -51.9% TRGP Targa Resources Corp. 14,000 $2.3M Reduce -51.2% PWR Quanta Services Inc. 5,500 $2.3M New FSLR First Solar Inc. 10,000 $2.2M Add +127.3% ECG Everus Construction Group 25,000 $2.1M Reduce -74.2% EQT Eqt Corp. 38,000 $2.1M Reduce -47.2% SLB SLB Ltd. filed as SCHLUMBERGER LTD 60,000 $2.1M New VNOM Viper Energy Inc. Class A 50,000 $1.9M New TLN Talen Energy Corp. 4,057 $1.7M Reduce -42.0% KMI Kinder Morgan Inc. 60,000 $1.7M New MTZ Mastec Inc. 7,000 $1.5M Reduce -65.0% CTRA Coterra Energy Inc. 60,000 $1.4M New AN Autonation Inc. 6,000 $1.3M New GPI Group 1 Automotive Inc. 3,000 $1.3M Reduce -54.5% KN Knowles Corp. 56,000 $1.3M New FCEL Fuelcell Energy Inc. 150,000 $1.2M New ORA Ormat Technologies Inc. 12,000 $1.2M New ARRY Array Technologies Inc. 137,000 $1.1M New IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP 65,000 $1.1M Reduce -88.4% GWH Ess Tech Inc. 675,417 $1.0M New SVIIF Spring Valley Acquisition-A 64,000 $801K New LBRT Liberty Energy Inc. 60,000 $740K New ON On Semiconductor 15,000 $740K New NXE Nexgen Energy Ltd. 80,000 $716K Reduce -88.8% MPC Marathon Petroleum Corp. 3,600 $694K Reduce -40.0% ISOU Isoenergy Ltd. 60,425 $609K Reduce -62.3% VLO Valero Energy Corp. 3,000 $511K New WWR Westwater Resources Inc. 450,000 $427K New IREN Iren Ltd. filed as IREN LIMITED 9,000 $422K Reduce -97.2% RIOT Riot Platforms Inc. 18,000 $343K New BE Bloom Energy Corp. Class A 4,000 $338K New AGX Argan Inc. 1,250 $338K Reduce -72.2% VST Vistra Corp. 1,657 $325K Reduce -93.9% APLD Applied Digital Corp. 14,000 $321K New CIFR Cipher Digital Inc. 22,636 $285K Reduce -92.5%
Options reported separately and not counted above: CCJ calls ($69.2M), TLN calls ($42.5M), SPY puts ($40.0M), XLI puts ($38.6M), FSLR calls ($27.0M), ETN calls ($26.2M), CIFR calls ($22.7M), IREN calls ($19.5M), VST calls ($18.6M), GEV puts ($12.3M), QQQ puts ($12.0M), PWR puts ($10.4M), and 14 more.
Other holdings (3): bonds, preferreds, convertibles and warrants · $3.4M (not counted above) Security Class Shares / Principal Value Change IMSRW HCM II Acquisition Corp. - 29 *W EXP 99/99/999 450,000 $2.7M No change SVIWF Spring Valley Acquisition-Aw *W EXP 02/25/202 500,000 $650K New NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 106,249 $80K No change
Total filed on the 13F, all lines: $65.0M.
Portfolio Sells Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▲ CCJ Cameco Corp. Reduce -83.7% 5.17% −7.59 CTRI Centuri Holdings Inc. Sold out 0.00% −4.95 AMTM Amentum Holdings Inc. Sold out 0.00% −4.39 VST Vistra Corp. Reduce -93.9% 0.53% −3.32 CORZ Core Scientific Inc. Sold out 0.00% −3.14 LTBR Lightbridge Corp. Sold out 0.00% −2.95 ITRI Itron Inc. Sold out 0.00% −2.91 MIR Mirion Technologies Inc. Sold out 0.00% −2.86 IMSR Terrestrial Energy Inc. Reduce -88.4% 1.73% −2.84 IREN Iren Ltd. Reduce -97.2% 0.69% −2.80 ETN Eaton Corp. PLC Sold out 0.00% −2.63 NXE Nexgen Energy Ltd. Reduce -88.8% 1.16% −2.48 FLNC Fluence Energy Inc. Sold out 0.00% −2.47 EXE Expand Energy Corp. Sold out 0.00% −1.81 DNN Denison Mines Corp. Sold out 0.00% −1.72 CWEN Clearway Energy Inc. Class C Sold out 0.00% −1.48 VNOM Viper Energy Inc. Sold out 0.00% −1.40 VRT Vertiv Holdings Co. Class A Sold out 0.00% −1.32 ECG Everus Construction Group Reduce -74.2% 3.48% −1.05 LEU Centrus Energy Corp. Class A Sold out 0.00% −0.72 AR Antero Resources Corp. Sold out 0.00% −0.59 CIFR Cipher Digital Inc. Reduce -92.5% 0.46% −0.59 ICLN iShares Global Clean Energy Sold out 0.00% −0.32 AGX Argan Inc. Reduce -72.2% 0.55% −0.18 MTZ Mastec Inc. Reduce -65.0% 2.42% −0.09 GPI Group 1 Automotive Inc. Reduce -54.5% 2.13% +0.01 TRGP Targa Resources Corp. Reduce -51.2% 3.81% +0.13 ISOU Isoenergy Ltd. Reduce -62.3% 0.99% +0.15 WMB Williams Cos Inc. Reduce -51.9% 3.91% +0.26 EQT Eqt Corp. Reduce -47.2% 3.36% +0.27 MPC Marathon Petroleum Corp. Reduce -40.0% 1.13% +0.39 TLN Talen Energy Corp. Reduce -42.0% 2.80% +1.30 RACE Ferrari NV Reduce -36.4% 5.51% +1.54 NXPI NXP Semiconductors NV Reduce -4.2% 8.50% +4.65
Portfolio Buys Q2 2025 → Q3 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 Q2 2025 % Of Portfolio Change To Portfolio ▼ TGEN Tecogen Inc./Waltham Ma New 4.11% +4.11 BWXT BWX Technologies Inc. Add +100.0% 4.79% +3.94 PWR Quanta Services Inc. New 3.70% +3.70 SLB SLB Ltd. New 3.35% +3.35 CEG Constellation Energy Add +5.0% 5.61% +3.24 VNOM Viper Energy Inc. Class A New 3.10% +3.10 FSLR First Solar Inc. Add +127.3% 3.58% +3.04 KMI Kinder Morgan Inc. New 2.76% +2.76 CTRA Coterra Energy Inc. New 2.30% +2.30 AN Autonation Inc. New 2.13% +2.13 KN Knowles Corp. New 2.12% +2.12 FCEL Fuelcell Energy Inc. New 1.90% +1.90 ORA Ormat Technologies Inc. New 1.88% +1.88 ARRY Array Technologies Inc. New 1.81% +1.81 GWH Ess Tech Inc. New 1.67% +1.67 SVIIF Spring Valley Acquisition-A New 1.30% +1.30 LBRT Liberty Energy Inc. New 1.20% +1.20 ON On Semiconductor New 1.20% +1.20 VLO Valero Energy Corp. New 0.83% +0.83 WWR Westwater Resources Inc. New 0.69% +0.69 RIOT Riot Platforms Inc. New 0.56% +0.56 BE Bloom Energy Corp. Class A New 0.55% +0.55 APLD Applied Digital Corp. New 0.52% +0.52
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ CCJ Cameco Corp. call Add +12.2% 825,000 $69.2M TLN Talen Energy Corp. call Reduce -31.0% 100,000 $42.5M SPY SS SPDR S&P 500 ETF Trust-US put New 60,000 $40.0M XLI SS Industrial Select Sector put Reduce -44.4% 250,000 $38.6M FSLR First Solar Inc. call Reduce -27.9% 122,500 $27.0M ETN Eaton Corp. PLC call Reduce -12.5% 70,000 $26.2M CIFR Cipher Digital Inc. call Add +50.0% 1,800,000 $22.7M TAN Invesco Solar ETF call Sold out 600,000 $20.6Mbefore exit IREN Iren Ltd. call Reduce -62.3% 415,000 $19.5M VST Vistra Corp. call Reduce -64.8% 95,000 $18.6M GEV GE Vernova Inc. put New 20,000 $12.3M QQQ Invesco QQQ Trust Series 1 put Reduce -20.0% 20,000 $12.0M PWR Quanta Services Inc. put New 25,000 $10.4M CORZ Core Scientific Inc. call Sold out 600,000 $10.2Mbefore exit RIOT Riot Platforms Inc. call Reduce -58.3% 500,000 $9.5M NXE Nexgen Energy Ltd. call Sold out 1,250,000 $8.7Mbefore exit VRT Vertiv Holdings Co. Class A put New 50,000 $7.5M ETN Eaton Corp. PLC put Sold out 20,000 $7.1Mbefore exit XLE SS Energy Select Sector put Sold out 80,000 $6.8Mbefore exit RUN Sunrun Inc. call Sold out 700,000 $5.7Mbefore exit EOSE Eos Energy Enterprises Inc. call New 400,000 $4.6M XLE SS Energy Select Sector call New 50,000 $4.5M FLNC Fluence Energy Inc. call Add +14.3% 400,000 $4.3M ICLN iShares Global Clean Energy call Sold out 300,000 $3.9Mbefore exit EXE Expand Energy Corp. call Add +40.0% 35,000 $3.7M ARRY Array Technologies Inc. call New 400,000 $3.3M APLD Applied Digital Corp. call New 115,000 $2.6M VRT Vertiv Holdings Co. Class A call Sold out 20,000 $2.6Mbefore exit OXY Occidental Petroleum Corp. put New 50,000 $2.4M ENPH Enphase Energy Inc. put Sold out 50,000 $2.0Mbefore exit HAL Halliburton Co. put New 80,000 $2.0M VAL Valaris Ltd. put New 40,000 $2.0M WMB Williams Cos Inc. call New 30,000 $1.9M OKLO Oklo Inc. put New 15,000 $1.7M EQT Eqt Corp. call New 30,000 $1.6M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q2 2025 → Q3 2025 Security Class Change vs Q2 2025 Shares / Principal Value ▼ SVIWF Spring Valley Acquisition-Aw *W EXP 02/25/202 New 500,000 $650K
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