Arosa Capital Management LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Arosa Capital Management LP reported 46 stock positions worth $152.1 million . Its top holding was Vicor (VICR) at 16.6% of the portfolio, followed by Everus Construction (ECG, 6.8% ) and Babcock & Wilcox Enterpr (BW, 5.6% ). Compared with Q4 2025, it opened 20 new positions, sold out of 26, added to 10 and reduced 10. The biggest buy was Vicor (VICR, shares +16% ) and the biggest sale an exit from Ormat Technologies (ORA).
Location MIAMI BEACH, FL
CIK 0001596053
Portfolio Value $152.1M (Q1 2026) Holdings 46 stocks · $152.1M 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 2025 VICR Vicor Corp. 156,500 $25.2M Add +15.9% ECG Everus Construction Group 88,000 $10.4M Add +120.0% BW Babcock & Wilcox Enterpr 575,000 $8.4M New CCJ Cameco Corp. 65,205 $7.1M Add +30.3% NXT Nextpower Inc. 49,959 $6.0M Add +131.2% FSLR First Solar Inc. 30,500 $6.0M Add +391.5% WMB Williams Cos Inc. 75,000 $5.5M Reduce -31.8% PWR Quanta Services Inc. 9,418 $5.2M Add +20.6% MPWR Monolithic Power Systems Inc. 4,500 $4.9M New AXTI Axt Inc. 85,000 $4.8M Add +6.3% MTZ Mastec Inc. 15,000 $4.8M No change ROG Rogers Corp. 43,612 $4.7M New MTRN Materion Corp. 25,000 $3.6M New EOSE Eos Energy Enterprises Inc. 726,033 $3.6M Add +148.6% SEI Solaris Energy Infrastructur 60,000 $3.4M New STRL Sterling Infrastructure Inc. 8,000 $3.3M Add +100.0% E Eni SPA-Sponsored ADR 55,000 $3.1M Reduce -50.0% BE Bloom Energy Corp. Class A 21,692 $2.9M Reduce -75.5% UUUU Energy Fuels Inc. 155,000 $2.8M New ENPH Enphase Energy Inc. 70,394 $2.7M Add +249.3% FPS Forgent Power Solutions Class A 85,000 $2.5M New XLI SS Industrial Select Sector 15,354 $2.5M New IREN Iren Ltd. filed as IREN LIMITED 69,975 $2.4M Reduce -23.0% LAC Lithium Americas Corp. 550,000 $2.2M New MWH Solv Energy Inc. Class A 65,686 $2.0M New TSSI TSS Inc. 150,000 $2.0M Reduce -25.0% ATOM Atomera Inc. 490,000 $1.9M New NVT Nvent Electric PLC 15,000 $1.8M Reduce -45.9% OPTX Syntec Optics Holdings Inc. 250,000 $1.8M No change LGN Legence Corp. Class A 30,000 $1.7M Reduce -25.0% VST Vistra Corp. 10,205 $1.5M New GWH Ess Tech Inc. 910,000 $1.1M Reduce -4.2% BWXT BWX Technologies Inc. 5,000 $1.0M Reduce -75.0% RDW Redwire Corp. 120,000 $1.0M New USAR USA Rare Earth Inc. 65,000 $984K New HUT Hut 8 Corp. 20,000 $938K Reduce -76.5% TGEN Tecogen Inc./Waltham Ma 350,000 $896K No change ASPI Asp Isotopes Inc. 200,000 $884K No change CLSK Cleanspark Inc. 100,000 $851K New AVAV Aerovironment Inc. 4,000 $732K New KULR Kulr Technology Group Inc. 300,000 $711K No change KTOS Kratos Defense & Security 10,000 $705K New AOSL Alpha & Omega Semiconductor 30,000 $665K No change ASTI Ascent Solar Technologies 150,000 $591K New FEAM 5E Advanced Materials Inc. 200,000 $280K New CORZ Core Scientific Inc. 10,993 $164K New
Options reported separately and not counted above: SPY puts ($156.1M), QQQ puts ($92.3M), PWR calls ($76.9M), IREN calls ($32.7M), XLI puts ($32.3M), MTZ calls ($24.1M), VICR calls ($16.1M), SMH calls ($14.4M), TAN calls ($11.1M), URA calls ($9.7M), GEV calls ($8.7M), TLN calls ($6.4M), and 7 more.
Other holdings (3): bonds, preferreds, convertibles and warrants · $1.5M (not counted above) Security Class Shares / Principal Value Change NUCLW Eagle Nuclear Energy Corp. *W EXP 02/25/203 750,000 $1.0M New IMSRW HCM II Acquisition Corp. - 29 *W EXP 10/28/203 175,000 $453K Reduce -36.4% NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 106,249 $29K No change
Total filed on the 13F, all lines: $153.6M.
Portfolio Sells Q4 2025 → Q1 2026 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 2025 % Of Portfolio Change To Portfolio ▲ ORA Ormat Technologies Inc. Sold out 0.00% −5.91 ETN Eaton Corp. PLC Sold out 0.00% −4.10 CIFR Cipher Digital Inc. Sold out 0.00% −3.78 VRT Vertiv Holdings Co. Class A Sold out 0.00% −3.65 APLD Applied Digital Corp. Sold out 0.00% −3.16 BE Bloom Energy Corp. Class A Reduce -75.5% 1.93% −3.02 BEP Brookfield Renewable Partner Sold out 0.00% −2.69 F Ford Motor Co. Sold out 0.00% −2.54 WULF Terawulf Inc. Sold out 0.00% −2.17 SEDG Solaredge Technologies Inc. Sold out 0.00% −1.95 HUT Hut 8 Corp. Reduce -76.5% 0.62% −1.90 GILT Gilat Satellite Networks Ltd. Sold out 0.00% −1.67 MP MP Materials Corp. Sold out 0.00% −1.63 NRGV Energy Vault Holdings Inc. Sold out 0.00% −1.56 BWXT BWX Technologies Inc. Reduce -75.0% 0.67% −1.55 DJT Trump Media & Technology Gro Sold out 0.00% −1.54 VNOM Viper Energy Inc. Class A Sold out 0.00% −1.49 CEG Constellation Energy Sold out 0.00% −1.37 TRGP Targa Resources Corp. Sold out 0.00% −1.19 PRIM Primoris Services Corp. Sold out 0.00% −0.96 RACE Ferrari NV Sold out 0.00% −0.95 POWI Power Integrations Inc. Sold out 0.00% −0.92 GM General Motors Co. Sold out 0.00% −0.79 EQT Eqt Corp. Sold out 0.00% −0.69 NB Niocorp Developments Ltd. Sold out 0.00% −0.68 WMB Williams Cos Inc. Reduce -31.8% 3.59% −0.67 GNRC Generac Holdings Inc. Sold out 0.00% −0.66 NVT Nvent Electric PLC Reduce -45.9% 1.17% −0.65 E Eni SPA-Sponsored ADR Reduce -50.0% 2.05% −0.64 IREN Iren Ltd. Reduce -23.0% 1.58% −0.63 BITF Bitfarms Ltd./Canada Sold out 0.00% −0.57 KN Knowles Corp. Sold out 0.00% −0.50 LEU Centrus Energy Corp. Class A Sold out 0.00% −0.47 GWH Ess Tech Inc. Reduce -4.2% 0.70% −0.45 LGN Legence Corp. Class A Reduce -25.0% 1.11% +0.00 TSSI TSS Inc. Reduce -25.0% 1.28% +0.37
Portfolio Buys Q4 2025 → Q1 2026 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 2025 % Of Portfolio Change To Portfolio ▼ VICR Vicor Corp. Add +15.9% 16.57% +7.04 BW Babcock & Wilcox Enterpr New 5.55% +5.55 ECG Everus Construction Group Add +120.0% 6.83% +4.63 MPWR Monolithic Power Systems Inc. New 3.24% +3.24 ROG Rogers Corp. New 3.08% +3.08 FSLR First Solar Inc. Add +391.5% 3.96% +2.91 NXT Nextpower Inc. Add +131.2% 3.96% +2.75 MTRN Materion Corp. New 2.38% +2.38 AXTI Axt Inc. Add +6.3% 3.19% +2.34 SEI Solaris Energy Infrastructur New 2.23% +2.23 UUUU Energy Fuels Inc. New 1.86% +1.86 CCJ Cameco Corp. Add +30.3% 4.66% +1.71 FPS Forgent Power Solutions Class A New 1.64% +1.64 XLI SS Industrial Select Sector New 1.63% +1.63 LAC Lithium Americas Corp. New 1.43% +1.43 STRL Sterling Infrastructure Inc. Add +100.0% 2.14% +1.35 ENPH Enphase Energy Inc. Add +249.3% 1.75% +1.33 MWH Solv Energy Inc. Class A New 1.30% +1.30 PWR Quanta Services Inc. Add +20.6% 3.40% +1.28 ATOM Atomera Inc. New 1.23% +1.23 VST Vistra Corp. New 1.01% +1.01 RDW Redwire Corp. New 0.67% +0.67 USAR USA Rare Earth Inc. New 0.65% +0.65 CLSK Cleanspark Inc. New 0.56% +0.56 AVAV Aerovironment Inc. New 0.48% +0.48 KTOS Kratos Defense & Security New 0.46% +0.46 ASTI Ascent Solar Technologies New 0.39% +0.39 EOSE Eos Energy Enterprises Inc. Add +148.6% 2.37% +0.21 FEAM 5E Advanced Materials Inc. New 0.18% +0.18 CORZ Core Scientific Inc. New 0.11% +0.11
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put New 240,000 $156.1M QQQ Invesco QQQ Trust Series 1 put Add +45.5% 160,000 $92.3M PWR Quanta Services Inc. call Add +55.6% 140,000 $76.9M FSLR First Solar Inc. call Sold out 200,000 $52.2Mbefore exit ETN Eaton Corp. PLC call Sold out 125,000 $39.8Mbefore exit VST Vistra Corp. call Sold out 235,000 $37.9Mbefore exit IREN Iren Ltd. call Add +12.3% 955,000 $32.7M XLI SS Industrial Select Sector put Reduce -20.0% 200,000 $32.3M CORZ Core Scientific Inc. call Sold out 1,850,000 $26.9Mbefore exit MTZ Mastec Inc. call New 75,000 $24.1M RUN Sunrun Inc. call Sold out 1,300,000 $23.9Mbefore exit BE Bloom Energy Corp. Class A call Sold out 240,000 $20.9Mbefore exit EOSE Eos Energy Enterprises Inc. call Sold out 1,650,000 $18.9Mbefore exit VICR Vicor Corp. call New 100,000 $16.1M SMH Vaneck Semiconductor ETF call New 37,500 $14.4M NXT Nextpower Inc. call Sold out 140,000 $12.2Mbefore exit TAN Invesco Solar ETF call New 200,000 $11.1M EQT Eqt Corp. call Sold out 200,000 $10.7Mbefore exit VRT Vertiv Holdings Co. Class A put Sold out 60,000 $9.7Mbefore exit URA Global X Uranium ETF call New 200,000 $9.7M ETN Eaton Corp. PLC put Sold out 30,000 $9.6Mbefore exit URA Global X Uranium ETF put Sold out 220,000 $9.4Mbefore exit GEV GE Vernova Inc. call Reduce -50.0% 10,000 $8.7M WGMI CS BTC Min Dig PWR ETF put Sold out 200,000 $7.7Mbefore exit TLN Talen Energy Corp. call Reduce -81.8% 20,000 $6.4M APLD Applied Digital Corp. call Sold out 250,000 $6.1Mbefore exit GM General Motors Co. call Sold out 75,000 $6.1Mbefore exit HAL Halliburton Co. call Sold out 200,000 $5.7Mbefore exit CEG Constellation Energy call New 20,000 $5.6M CLSK Cleanspark Inc. call Sold out 500,000 $5.1Mbefore exit EXE Expand Energy Corp. call New 40,000 $4.4M WULF Terawulf Inc. call Reduce -88.9% 300,000 $4.3M SEDG Solaredge Technologies Inc. call Sold out 150,000 $4.3Mbefore exit ENPH Enphase Energy Inc. call Reduce -50.0% 100,000 $3.8M CCJ Cameco Corp. call Reduce -90.8% 30,000 $3.3M CIFR Cipher Digital Inc. call Reduce -88.6% 250,000 $3.2M TE T1 Energy Inc. call Sold out 300,000 $2.0Mbefore exit SHLS Shoals Technologies Group -A call New 200,000 $1.3M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026 Security Class Change vs Q4 2025 Shares / Principal Value ▼ NUCLW Eagle Nuclear Energy Corp. *W EXP 02/25/203 New 750,000 $1.0M IMSRW HCM II Acquisition Corp. - 29 *W EXP 10/28/203 Reduce -36.4% 175,000 $453K
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