Engine No. 1 LLC

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Engine No. 1 LLC reported 5 stock positions worth $37.6 million. Its top holding was Powell Industries (POWL) at 29.1% of the portfolio, followed by Baker Hughes (BKR, 22.7%) and Hubbell (HUBB, 22.0%). Compared with Q3 2024, it opened 3 new positions, sold out of 4, added to 1 and reduced 1. The biggest buy was a new position in Baker Hughes (BKR) and the biggest sale an exit from Vertiv Class A (VRT).

Most Recent 13F
Q3 2025
Location
San Francisco, CA
CIK
0001835549
Portfolio Value
$37.6M (Q4 2024)
SEC Filing
0001420506-25-000499 ↗ filed Feb 14, 2025

Holdings Value

0$20.0M$40.0M$60.0M$80.0M$100.0M Q1 2024: $84.5M Q1 2024 Q2 2024: $95.3M Q2 2024 Q3 2024: $50.5M Q3 2024 Q4 2024: $37.6M $37.6M Q4 2024 Q1 2025: $78.3M Q1 2025 Q2 2025: $55.1M Q2 2025 Q3 2025: $88.6M Q3 2025

Holdings 5 stocks · $37.6M
POWL Powell Industries Inc. 29.08% 49,300 $10.9M Reduce -17.1%
BKR Baker Hughes Co. 22.70% 208,000 $8.5M New
HUBB Hubbell Inc. 22.03% 19,763 $8.3M Add +27.0%
FLS Flowserve Corp. 19.59% 128,000 $7.4M New
CENX Century Aluminum Company 6.59% 136,000 $2.5M New

Portfolio Sells Q3 2024 → Q4 2024
VRT Vertiv Holdings Co. Class A Sold out 0.00% −26.19
FSLR First Solar Inc. Sold out 0.00% −15.70
XOM Exxon Mobil Corp. Sold out 0.00% −10.75
COHR Coherent Corp. Sold out 0.00% −8.01
POWL Powell Industries Inc. Reduce -17.1% 29.08% +2.93

Portfolio Buys Q3 2024 → Q4 2024
BKR Baker Hughes Co. New 22.70% +22.70
FLS Flowserve Corp. New 19.59% +19.59
HUBB Hubbell Inc. Add +27.0% 22.03% +8.83
CENX Century Aluminum Company New 6.59% +6.59

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q3 2025 6$88.6MPOWL, VRT, FSLR, HRI, GLD
Q2 2025 4$55.1MPOWL, VRT, ETN, HUBB
Q1 2025 4$78.3MINTC, POWL, AR, ETN
Q4 2024 5$37.6MPOWL, BKR, HUBB, FLS, CENX
Q3 2024 6$50.5MVRT, POWL, FSLR, HUBB, XOM
Q2 2024 11$95.3MVRT, AMAT, ASML, HUBB, POWL
Q1 2024 10$84.5MVRT, HUBB, AMAT, XOM, MSFT