Ripple Effect Asset Management LP In its 13F for Q1 2025 (holdings as of March 31, 2025, filed May 14, 2025), Ripple Effect Asset Management LP reported 7 stock positions worth $83.4 million . Its top holding was Antero Midstream (AM) at 19.4% of the portfolio, followed by Vistra (VST, 19.2% ) and Talen Energy (TLN, 14.7% ). Compared with Q4 2024, it opened 1 new position, sold out of 5, added to 4 and reduced 2. The biggest buy was a new position in Alerian MLP ETF (AMLP) and the biggest sale an exit from Cameco (CCJ).
Location New York, NY
CIK 0002031590
Portfolio Value $83.4M (Q1 2025) Holdings 7 stocks · $83.4M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2024 AM Antero Midstream Corp. 900,000 $16.2M Reduce -23.4% VST Vistra Corp. 136,000 $16.0M Add +58.1% TLN Talen Energy Corp. 61,500 $12.3M Add +53.8% EQT Eqt Corp. 210,000 $11.2M Add +78.7% TECK Teck Resources Ltd.-CLS B 305,000 $11.1M Add +144.0% HYG Ishr Ibx Usd Hiyld CB ETF-Ui 138,000 $10.9M Reduce -8.0% AMLP Alerian MLP ETF 109,397 $5.7M New
Options reported separately and not counted above: HYG puts ($51.3M), F calls ($50.1M), SPY puts ($42.0M), GM calls ($23.5M), AMLP puts ($20.8M), ET puts ($16.3M), EQT calls ($16.0M), TECK puts ($12.8M), FCX calls ($9.5M), VST puts ($7.0M), AM puts ($5.4M), EQT puts ($5.3M), and 2 more.
Portfolio Sells Q4 2024 → Q1 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▲ CCJ Cameco Corp. Sold out 0.00% −9.79 SU Suncor Energy Inc. Sold out 0.00% −4.86 AM Antero Midstream Corp. Reduce -23.4% 19.44% −4.68 CEG Constellation Energy Sold out 0.00% −3.04 HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -8.0% 13.06% −2.98 CORZ Core Scientific Inc. Sold out 0.00% −0.71 CIFR Cipher Digital Inc. Sold out 0.00% −0.09
Portfolio Buys Q4 2024 → Q1 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2024 % Of Portfolio Change To Portfolio ▼ AMLP Alerian MLP ETF New 6.82% +6.82 TECK Teck Resources Ltd.-CLS B Add +144.0% 13.33% +6.44 EQT Eqt Corp. Add +78.7% 13.46% +6.09 TLN Talen Energy Corp. Add +53.8% 14.73% +3.77 VST Vistra Corp. Add +58.1% 19.16% +3.04
Options Activity Q4 2024 → Q1 2025 Security Type Change vs Q4 2024 Underlying Shares Value ▼ HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Reduce -21.2% 650,000 $51.3M F Ford Motor Co. call New 5,000,000 $50.1M SPY SS SPDR S&P 500 ETF Trust-US put Reduce -6.3% 75,000 $42.0M GM General Motors Co. call New 500,000 $23.5M AMLP Alerian MLP ETF put Reduce -33.3% 400,000 $20.8M ET Energy Transfer LP put Add +236.5% 875,000 $16.3M EQT Eqt Corp. call Add +20.0% 300,000 $16.0M CEG Constellation Energy put Sold out 70,000 $15.7Mbefore exit CCJ Cameco Corp. put Sold out 300,000 $15.4Mbefore exit SU Suncor Energy Inc. put Sold out 350,000 $12.5Mbefore exit TLN Talen Energy Corp. call Sold out 60,000 $12.1Mbefore exit CEG Constellation Energy call Sold out 45,000 $10.1Mbefore exit FCX Freeport-McMoran Inc. call New 250,000 $9.5M VST Vistra Corp. put New 60,000 $7.0M SU Suncor Energy Inc. call Sold out 180,000 $6.4Mbefore exit AM Antero Midstream Corp. put Reduce -83.8% 300,000 $5.4M EQT Eqt Corp. put Reduce -54.5% 100,000 $5.3M TECK Teck Resources Ltd.-CLS B call Sold out 125,000 $5.1Mbefore exit NGL NGL Energy Partners LP call New 610,300 $2.8M NGL NGL Energy Partners LP put New 178,700 $811K
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 18 $169.4M XIFR, KGS, WMB, VST, AR Q1 2026 13 $143.6M XIFR, KGS, VST, IE, WMB Q4 2025 11 $125.2M KGS, XIFR, WMB, IE, CCJ Q3 2025 15 $173.7M VST, EQT, TLN, KGS, XIFR Q2 2025 17 $175.3M VST, EQT, TLN, LNG, GLD Q1 2025 7 $83.4M AM, VST, TLN, EQT, TECK Q4 2024 11 $73.5M AM, VST, HYG, TLN, CCJ