Arosa Capital Management LP In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Arosa Capital Management LP reported 52 stock positions worth $155.2 million . Its top holding was Vicor (VICR) at 9.5% of the portfolio, followed by Ormat Technologies (ORA, 5.9% ) and Bloom Energy Class A (BE, 5.0% ). Compared with Q3 2025, it opened 32 new positions, sold out of 21, added to 14 and reduced 6. The biggest buy was a new position in Vicor (VICR) and the biggest sale an exit from NXP Semiconductors (NXPI).
Location MIAMI BEACH, FL
CIK 0001596053
Portfolio Value $155.2M (Q4 2025) Holdings 52 stocks · $155.2M 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 Q3 2025 VICR Vicor Corp. 135,000 $14.8M New ORA Ormat Technologies Inc. 83,000 $9.2M Add +591.7% BE Bloom Energy Corp. Class A 88,532 $7.7M Add +2113.3% WMB Williams Cos Inc. 110,000 $6.6M Add +189.5% ETN Eaton Corp. PLC 20,000 $6.4M New CIFR Cipher Digital Inc. 397,207 $5.9M Add +1654.8% VRT Vertiv Holdings Co. Class A 35,000 $5.7M New APLD Applied Digital Corp. 200,000 $4.9M Add +1328.6% CCJ Cameco Corp. 50,025 $4.6M Add +31.6% BEP Brookfield Renewable Partner 155,000 $4.2M New E Eni SPA-Sponsored ADR 110,000 $4.2M New F Ford Motor Co. filed as FORD MTR CO 300,000 $3.9M New HUT Hut 8 Corp. 85,000 $3.9M New BWXT BWX Technologies Inc. 20,000 $3.5M Add +25.0% IREN Iren Ltd. filed as IREN LIMITED 90,912 $3.4M Add +910.1% ECG Everus Construction Group 40,000 $3.4M Add +60.0% WULF Terawulf Inc. 292,870 $3.4M New EOSE Eos Energy Enterprises Inc. 292,113 $3.3M New PWR Quanta Services Inc. 7,808 $3.3M Add +42.0% MTZ Mastec Inc. 15,000 $3.3M Add +114.3% SEDG Solaredge Technologies Inc. 105,000 $3.0M New NVT Nvent Electric PLC 27,722 $2.8M New GILT Gilat Satellite Networks Ltd. 200,000 $2.6M New MP MP Materials Corp. 50,000 $2.5M New NRGV Energy Vault Holdings Inc. 525,000 $2.4M New DJT Trump Media & Technology Gro 180,000 $2.4M New VNOM Viper Energy Inc. Class A 60,000 $2.3M Add +20.0% CEG Constellation Energy 6,000 $2.1M Reduce -42.9% NXT Nextpower Inc. 21,608 $1.9M New TRGP Targa Resources Corp. 10,000 $1.8M Reduce -28.6% GWH Ess Tech Inc. 950,000 $1.8M Add +40.6% TGEN Tecogen Inc./Waltham Ma 350,000 $1.7M Add +21.7% LGN Legence Corp. Class A 40,000 $1.7M New FSLR First Solar Inc. 6,206 $1.6M Reduce -37.9% PRIM Primoris Services Corp. 12,000 $1.5M New RACE Ferrari NV 4,000 $1.5M Reduce -42.9% POWI Power Integrations Inc. 40,000 $1.4M New TSSI TSS Inc. 200,000 $1.4M New AXTI Axt Inc. 80,000 $1.3M New STRL Sterling Infrastructure Inc. 4,000 $1.2M New GM General Motors Co. 15,000 $1.2M New EQT Eqt Corp. 20,000 $1.1M Reduce -47.4% ASPI Asp Isotopes Inc. 200,000 $1.1M New NB Niocorp Developments Ltd. 200,000 $1.1M New GNRC Generac Holdings Inc. 7,500 $1.0M New KULR Kulr Technology Group Inc. 300,000 $888K New BITF Bitfarms Ltd./Canada 375,000 $881K New KN Knowles Corp. 36,000 $771K Reduce -35.7% LEU Centrus Energy Corp. Class A 3,000 $728K New OPTX Syntec Optics Holdings Inc. 250,000 $715K New ENPH Enphase Energy Inc. 20,152 $646K New AOSL Alpha & Omega Semiconductor 30,000 $594K New
Options reported separately and not counted above: QQQ puts ($67.6M), FSLR calls ($52.2M), TLN calls ($41.2M), ETN calls ($39.8M), XLI puts ($38.8M), PWR calls ($38.0M), VST calls ($37.9M), CIFR calls ($32.5M), IREN calls ($32.1M), WULF calls ($31.1M), CCJ calls ($29.7M), CORZ calls ($26.9M), and 17 more.
Other holdings (2): bonds, preferreds, convertibles and warrants · $636K (not counted above) Security Class Shares / Principal Value Change IMSRW HCM II Acquisition Corp. - 29 *W EXP 10/28/203 275,000 $583K New NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 106,249 $53K No change
Total filed on the 13F, all lines: $155.9M.
Portfolio Sells Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▲ NXPI NXP Semiconductors NV Sold out 0.00% −8.50 RACE Ferrari NV Reduce -42.9% 0.95% −4.56 CEG Constellation Energy Reduce -42.9% 1.37% −4.24 SLB SLB Ltd. Sold out 0.00% −3.35 TLN Talen Energy Corp. Sold out 0.00% −2.80 KMI Kinder Morgan Inc. Sold out 0.00% −2.76 EQT Eqt Corp. Reduce -47.4% 0.69% −2.67 TRGP Targa Resources Corp. Reduce -28.6% 1.19% −2.62 FSLR First Solar Inc. Reduce -37.9% 1.04% −2.54 CTRA Coterra Energy Inc. Sold out 0.00% −2.30 AN Autonation Inc. Sold out 0.00% −2.13 GPI Group 1 Automotive Inc. Sold out 0.00% −2.13 FCEL Fuelcell Energy Inc. Sold out 0.00% −1.90 ARRY Array Technologies Inc. Sold out 0.00% −1.81 IMSR Terrestrial Energy Inc. Sold out 0.00% −1.73 KN Knowles Corp. Reduce -35.7% 0.50% −1.62 SVIIF Spring Valley Acquisition-A Sold out 0.00% −1.30 LBRT Liberty Energy Inc. Sold out 0.00% −1.20 ON On Semiconductor Sold out 0.00% −1.20 NXE Nexgen Energy Ltd. Sold out 0.00% −1.16 MPC Marathon Petroleum Corp. Sold out 0.00% −1.13 ISOU Isoenergy Ltd. Sold out 0.00% −0.99 VLO Valero Energy Corp. Sold out 0.00% −0.83 WWR Westwater Resources Inc. Sold out 0.00% −0.69 RIOT Riot Platforms Inc. Sold out 0.00% −0.56 AGX Argan Inc. Sold out 0.00% −0.55 VST Vistra Corp. Sold out 0.00% −0.53
Portfolio Buys Q3 2025 → Q4 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 Q3 2025 % Of Portfolio Change To Portfolio ▼ VICR Vicor Corp. New 9.53% +9.53 BE Bloom Energy Corp. Class A Add +2113.3% 4.96% +4.41 ETN Eaton Corp. PLC New 4.10% +4.10 ORA Ormat Technologies Inc. Add +591.7% 5.91% +4.03 VRT Vertiv Holdings Co. Class A New 3.65% +3.65 CIFR Cipher Digital Inc. Add +1654.8% 3.78% +3.31 BEP Brookfield Renewable Partner New 2.69% +2.69 E Eni SPA-Sponsored ADR New 2.69% +2.69 APLD Applied Digital Corp. Add +1328.6% 3.16% +2.64 F Ford Motor Co. New 2.54% +2.54 HUT Hut 8 Corp. New 2.52% +2.52 WULF Terawulf Inc. New 2.17% +2.17 EOSE Eos Energy Enterprises Inc. New 2.16% +2.16 SEDG Solaredge Technologies Inc. New 1.95% +1.95 NVT Nvent Electric PLC New 1.82% +1.82 GILT Gilat Satellite Networks Ltd. New 1.67% +1.67 MP MP Materials Corp. New 1.63% +1.63 NRGV Energy Vault Holdings Inc. New 1.56% +1.56 DJT Trump Media & Technology Gro New 1.54% +1.54 IREN Iren Ltd. Add +910.1% 2.21% +1.53 NXT Nextpower Inc. New 1.21% +1.21 LGN Legence Corp. Class A New 1.11% +1.11 PRIM Primoris Services Corp. New 0.96% +0.96 POWI Power Integrations Inc. New 0.92% +0.92 TSSI TSS Inc. New 0.91% +0.91 AXTI Axt Inc. New 0.84% +0.84 STRL Sterling Infrastructure Inc. New 0.79% +0.79 GM General Motors Co. New 0.79% +0.79 ASPI Asp Isotopes Inc. New 0.69% +0.69 NB Niocorp Developments Ltd. New 0.68% +0.68 GNRC Generac Holdings Inc. New 0.66% +0.66 KULR Kulr Technology Group Inc. New 0.57% +0.57 BITF Bitfarms Ltd./Canada New 0.57% +0.57 LEU Centrus Energy Corp. Class A New 0.47% +0.47 OPTX Syntec Optics Holdings Inc. New 0.46% +0.46 ENPH Enphase Energy Inc. New 0.42% +0.42 AOSL Alpha & Omega Semiconductor New 0.38% +0.38 WMB Williams Cos Inc. Add +189.5% 4.26% +0.35 MTZ Mastec Inc. Add +114.3% 2.10% −0.32 GWH Ess Tech Inc. Add +40.6% 1.15% −0.52 ECG Everus Construction Group Add +60.0% 2.20% −1.28 PWR Quanta Services Inc. Add +42.0% 2.12% −1.58 VNOM Viper Energy Inc. Class A Add +20.0% 1.49% −1.61 CCJ Cameco Corp. Add +31.6% 2.95% −2.23 BWXT BWX Technologies Inc. Add +25.0% 2.23% −2.56 TGEN Tecogen Inc./Waltham Ma Add +21.7% 1.11% −3.00
Options Activity Q3 2025 → Q4 2025 Security Type Change vs Q3 2025 Underlying Shares Value ▼ QQQ Invesco QQQ Trust Series 1 put Add +450.0% 110,000 $67.6M FSLR First Solar Inc. call Add +63.3% 200,000 $52.2M TLN Talen Energy Corp. call Add +10.0% 110,000 $41.2M SPY SS SPDR S&P 500 ETF Trust-US put Sold out 60,000 $40.0Mbefore exit ETN Eaton Corp. PLC call Add +78.6% 125,000 $39.8M PWR Quanta Services Inc. call New 90,000 $38.0M VST Vistra Corp. call Add +147.4% 235,000 $37.9M CIFR Cipher Digital Inc. call Add +22.2% 2,200,000 $32.5M IREN Iren Ltd. call Add +104.8% 850,000 $32.1M WULF Terawulf Inc. call New 2,710,000 $31.1M CCJ Cameco Corp. call Reduce -60.6% 325,000 $29.7M CORZ Core Scientific Inc. call New 1,850,000 $26.9M RUN Sunrun Inc. call New 1,300,000 $23.9M BE Bloom Energy Corp. Class A call New 240,000 $20.9M EOSE Eos Energy Enterprises Inc. call Add +312.5% 1,650,000 $18.9M GEV GE Vernova Inc. call New 20,000 $13.1M GEV GE Vernova Inc. put Sold out 20,000 $12.3Mbefore exit NXT Nextpower Inc. call New 140,000 $12.2M EQT Eqt Corp. call Add +566.7% 200,000 $10.7M PWR Quanta Services Inc. put Sold out 25,000 $10.4Mbefore exit VRT Vertiv Holdings Co. Class A put Add +20.0% 60,000 $9.7M ETN Eaton Corp. PLC put New 30,000 $9.6M RIOT Riot Platforms Inc. call Sold out 500,000 $9.5Mbefore exit URA Global X Uranium ETF put New 220,000 $9.4M WGMI CS BTC Min Dig PWR ETF put New 200,000 $7.7M ENPH Enphase Energy Inc. call New 200,000 $6.4M APLD Applied Digital Corp. call Add +117.4% 250,000 $6.1M GM General Motors Co. call New 75,000 $6.1M HAL Halliburton Co. call New 200,000 $5.7M CLSK Cleanspark Inc. call New 500,000 $5.1M XLE SS Energy Select Sector call Sold out 100,000 $4.5Mbefore exit SEDG Solaredge Technologies Inc. call New 150,000 $4.3M FLNC Fluence Energy Inc. call Sold out 400,000 $4.3Mbefore exit EXE Expand Energy Corp. call Sold out 35,000 $3.7Mbefore exit ARRY Array Technologies Inc. call Sold out 400,000 $3.3Mbefore exit OXY Occidental Petroleum Corp. put Sold out 50,000 $2.4Mbefore exit TE T1 Energy Inc. call New 300,000 $2.0M HAL Halliburton Co. put Sold out 80,000 $2.0Mbefore exit VAL Valaris Ltd. put Sold out 40,000 $2.0Mbefore exit WMB Williams Cos Inc. call Sold out 30,000 $1.9Mbefore exit OKLO Oklo Inc. put Sold out 15,000 $1.7Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q3 2025 → Q4 2025 Security Class Change vs Q3 2025 Shares / Principal Value ▼ IMSRW HCM II Acquisition Corp. - 29 *W EXP 99/99/999 Sold out 450,000 $2.7Mbefore exit SVIWF Spring Valley Acquisition-Aw *W EXP 02/25/202 Sold out 500,000 $650Kbefore exit IMSRW HCM II Acquisition Corp. - 29 *W EXP 10/28/203 New 275,000 $583K
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