Electron Capital Partners, LLC In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 15, 2025), Electron Capital Partners, LLC reported 35 stock positions worth $1.4 billion . Its top holding was 3M (MMM) at 10.3% of the portfolio, followed by Constellation Energy (CEG, 10.0% ) and Xcel Energy (XEL, 9.7% ). Compared with Q4 2024, it opened 7 new positions, sold out of 10, added to 10 and reduced 16. The biggest buy was a new position in Exelon (EXC) and the biggest sale GE Vernova (GEV, shares −52% ).
Location NEW YORK, NY
CIK 0001586986
Portfolio Value $1.4B (Q1 2025) Holdings 35 stocks · $1.4B 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 MMM 3M Co. 974,887 $143.2M Reduce -6.2% CEG Constellation Energy 693,983 $139.9M Reduce -11.3% XEL Xcel Energy Inc. 1,921,636 $136.0M Add +93.7% EXC Exelon Corp. 2,545,014 $117.3M New APD Air Products & Chemicals Inc. 311,668 $91.9M Add +251.4% MTZ Mastec Inc. 732,829 $85.5M Reduce -29.3% GEV GE Vernova Inc. 261,965 $80.0M Reduce -51.9% TLT iShares 20+ Year Treasury BD 857,600 $78.1M New PWR Quanta Services Inc. 249,807 $63.5M Reduce -29.0% NEE Nextera Energy Inc. 894,782 $63.4M Add +2.2% JCI Johnson Controls Internation 780,983 $62.6M Add +3.8% ETR Entergy Corp. 637,189 $54.5M Reduce -37.5% ENVX Enovix Corp. 6,712,763 $49.3M Add +18.6% PPL PPL Corp. 1,033,504 $37.3M Reduce -55.8% PCG P G & E Corp. 2,100,546 $36.1M Reduce -54.9% EIX Edison International 434,517 $25.6M Reduce -61.5% LI Li Auto Inc. - ADR 978,500 $24.7M New GM General Motors Co. 430,364 $20.2M New EOSE Eos Energy Enterprises Inc. 4,990,278 $18.9M Reduce -12.8% ARRY Array Technologies Inc. 3,750,351 $18.3M Add +45.0% SGML Sigma Lithium Corp. 1,063,390 $11.1M Reduce -14.3% CGNX Cognex Corp. 346,041 $10.3M New BA The Boeing Co. 49,372 $8.4M Reduce -76.7% CANG Cango Inc./KY - ADR 1,339,700 $5.1M No change OPAL Opal Fuels Inc. Class A 1,800,000 $3.3M No change FLNC Fluence Energy Inc. 566,709 $2.7M Reduce -55.4% VRT Vertiv Holdings Co. Class A 28,384 $2.0M Add +34.0% GDS GDS Holdings Ltd. - ADR filed as GDS HLDGS LTD 69,601 $1.8M New HRI Herc Holdings Inc. filed as HERC HLDGS INC 12,055 $1.6M Reduce -96.5% NXT Nextpower Inc. filed as NEXTRACKER INC 26,807 $1.1M Reduce -2.5% HSAI Hesai Group 63,911 $946K New EH Ehang Holdings Ltd.-SPS ADR 36,000 $752K Add +34.0% RUN Sunrun Inc. 72,775 $426K Reduce -1.7% SHLS Shoals Technologies Group -A 108,838 $361K Add +20.3% STEM Stem Inc. 163,390 $57K Add +24.6%
Options reported separately and not counted above: SPY puts ($128.1M).
Other holdings (2): bonds, preferreds, convertibles and warrants · $14K (not counted above) Security Class Shares / Principal Value Change SESCW Ivanhoe Capital Class A -CW27 *W EXP 12/10/202 239,752 $13K No change WBXWF Wallbox BV Class A -CW26 *W EXP 10/01/202 24,557 $822 No change
Total filed on the 13F, all lines: $1.4B.
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 ▲ GEV GE Vernova Inc. Reduce -51.9% 5.73% −4.62 HRI Herc Holdings Inc. Reduce -96.5% 0.12% −3.61 EIX Edison International Reduce -61.5% 1.83% −3.37 UAL United Airlines Holdings Inc. Sold out 0.00% −3.11 CARR Carrier Global Corp. Sold out 0.00% −2.90 PCG P G & E Corp. Reduce -54.9% 2.58% −2.84 MTZ Mastec Inc. Reduce -29.3% 6.13% −2.02 PWR Quanta Services Inc. Reduce -29.0% 4.55% −1.87 PPL PPL Corp. Reduce -55.8% 2.67% −1.71 EMN Eastman Chemical Co. Sold out 0.00% −1.61 BA The Boeing Co. Reduce -76.7% 0.60% −1.56 FLNC Fluence Energy Inc. Reduce -55.4% 0.20% −0.97 TSLA Tesla Inc. Sold out 0.00% −0.79 X United States Steel Corp. Sold out 0.00% −0.71 NOVAQ Sunnova Energy International Sold out 0.00% −0.68 ETR Entergy Corp. Reduce -37.5% 3.90% −0.56 ENPH Enphase Energy Inc. Sold out 0.00% −0.41 EOSE Eos Energy Enterprises Inc. Reduce -12.8% 1.35% −0.25 EMR Emerson Electric Co. Sold out 0.00% −0.11 ETN Eaton Corp. PLC Sold out 0.00% −0.11 CEG Constellation Energy Reduce -11.3% 10.02% −0.08 FSLR First Solar Inc. Sold out 0.00% −0.01 SGML Sigma Lithium Corp. Reduce -14.3% 0.79% −0.01 RUN Sunrun Inc. Reduce -1.7% 0.03% −0.01 NXT Nextpower Inc. Reduce -2.5% 0.08% +0.02 MMM 3M Co. Reduce -6.2% 10.25% +2.51
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 ▼ EXC Exelon Corp. New 8.40% +8.40 XEL Xcel Energy Inc. Add +93.7% 9.74% +5.88 TLT iShares 20+ Year Treasury BD New 5.59% +5.59 APD Air Products & Chemicals Inc. Add +251.4% 6.58% +5.10 LI Li Auto Inc. - ADR New 1.77% +1.77 GM General Motors Co. New 1.45% +1.45 JCI Johnson Controls Internation Add +3.8% 4.48% +1.05 NEE Nextera Energy Inc. Add +2.2% 4.54% +0.92 CGNX Cognex Corp. New 0.74% +0.74 ARRY Array Technologies Inc. Add +45.0% 1.31% +0.41 GDS GDS Holdings Ltd. - ADR New 0.13% +0.13 HSAI Hesai Group New 0.07% +0.07 EH Ehang Holdings Ltd.-SPS ADR Add +34.0% 0.05% +0.03 VRT Vertiv Holdings Co. Class A Add +34.0% 0.15% +0.01 STEM Stem Inc. Add +24.6% 0.00% −0.00 SHLS Shoals Technologies Group -A Add +20.3% 0.03% −0.00 ENVX Enovix Corp. Add +18.6% 3.53% −0.02
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -29.5% 229,000 $128.1M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 45 $2.5B FLEX, MTZ, XEL, NEE, ETR Q1 2026 43 $2.1B MTZ, NEE, XEL, FE, ETR Q4 2025 Amended 39 $2.2B CEG, MTZ, XEL, NEE, JCI Q3 2025 36 $2.2B CEG, MTZ, NEE, ETR, XEL Q2 2025 35 $1.9B CEG, JCI, MMM, APD, MTZ Q1 2025 35 $1.4B MMM, CEG, XEL, EXC, APD Q4 2024 38 $1.7B GEV, CEG, MTZ, MMM, PWR Q3 2024 43 $2.1B CEG, GEV, MTZ, MMM, XLI Q2 2024 Amended 45 $1.9B CEG, MTZ, VRT, GEV, VST Q1 2024 44 $2.3B GE, CEG, VRT, MTZ, CRH