Ripple Effect Asset Management LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Ripple Effect Asset Management LP reported 17 stock positions worth $175.3 million . Its top holding was Vistra (VST) at 15.7% of the portfolio, followed by Eqt (EQT, 15.5% ) and Talen Energy (TLN, 9.1% ). Compared with Q1 2025, it opened 12 new positions, sold out of 2, added to 2 and reduced 3. The biggest buy was a new position in Cheniere Energy (LNG) and the biggest sale an exit from Antero Midstream (AM).
Location New York, NY
CIK 0002031590
Portfolio Value $175.3M (Q2 2025) Holdings 17 stocks · $175.3M 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 Q1 2025 VST Vistra Corp. 142,400 $27.6M Add +4.7% EQT Eqt Corp. 465,000 $27.1M Add +121.4% TLN Talen Energy Corp. 55,000 $16.0M Reduce -10.6% LNG Cheniere Energy Inc. 50,000 $12.2M New GLD SPDR Gold Shares 36,040 $11.0M New EXE Expand Energy Corp. 75,000 $8.8M New VRT Vertiv Holdings Co. Class A 65,300 $8.4M New HYG Ishr Ibx Usd Hiyld CB ETF-Ui 100,000 $8.1M Reduce -27.5% GEV GE Vernova Inc. 15,000 $7.9M New CCJ Cameco Corp. 105,000 $7.8M New WMB Williams Cos Inc. 113,000 $7.1M New CEG Constellation Energy 21,800 $7.0M New KGS Kodiak Gas Services Inc. 200,000 $6.9M New XIFR XPLR Infrastructure LP 753,125 $6.2M New FCX Freeport-McMoran Inc. 119,400 $5.2M New TECK Teck Resources Ltd.-CLS B 116,100 $4.7M Reduce -61.9% NRG NRG Energy Inc. 21,500 $3.5M New
Options reported separately and not counted above: SPY puts ($185.4M), HYG puts ($60.5M), VST puts ($32.9M), EQT puts ($28.0M), TLN puts ($17.4M), LNG puts ($14.6M), VRT puts ($14.1M), WMB puts ($12.6M), GLD puts ($12.2M), CEG puts ($11.6M), CCJ puts ($10.4M), GLD calls ($9.9M), and 14 more.
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ AM Antero Midstream Corp. Sold out 0.00% −19.44 TECK Teck Resources Ltd.-CLS B Reduce -61.9% 2.67% −10.66 HYG Ishr Ibx Usd Hiyld CB ETF-Ui Reduce -27.5% 4.60% −8.46 AMLP Alerian MLP ETF Sold out 0.00% −6.82 TLN Talen Energy Corp. Reduce -10.6% 9.12% −5.61
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ LNG Cheniere Energy Inc. New 6.95% +6.95 GLD SPDR Gold Shares New 6.27% +6.27 EXE Expand Energy Corp. New 5.00% +5.00 VRT Vertiv Holdings Co. Class A New 4.78% +4.78 GEV GE Vernova Inc. New 4.53% +4.53 CCJ Cameco Corp. New 4.45% +4.45 WMB Williams Cos Inc. New 4.05% +4.05 CEG Constellation Energy New 4.01% +4.01 KGS Kodiak Gas Services Inc. New 3.91% +3.91 XIFR XPLR Infrastructure LP New 3.52% +3.52 FCX Freeport-McMoran Inc. New 2.95% +2.95 EQT Eqt Corp. Add +121.4% 15.47% +2.01 NRG NRG Energy Inc. New 1.97% +1.97 VST Vistra Corp. Add +4.7% 15.74% −3.42
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +300.0% 300,000 $185.4M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Add +15.4% 750,000 $60.5M F Ford Motor Co. call Sold out 5,000,000 $50.1Mbefore exit VST Vistra Corp. put Add +183.3% 170,000 $32.9M EQT Eqt Corp. put Add +380.0% 480,000 $28.0M GM General Motors Co. call Sold out 500,000 $23.5Mbefore exit AMLP Alerian MLP ETF put Sold out 400,000 $20.8Mbefore exit TLN Talen Energy Corp. put New 60,000 $17.4M ET Energy Transfer LP put Sold out 875,000 $16.3Mbefore exit EQT Eqt Corp. call Sold out 300,000 $16.0Mbefore exit LNG Cheniere Energy Inc. put New 60,000 $14.6M VRT Vertiv Holdings Co. Class A put New 110,000 $14.1M WMB Williams Cos Inc. put New 200,000 $12.6M GLD SPDR Gold Shares put New 40,000 $12.2M CEG Constellation Energy put New 36,000 $11.6M CCJ Cameco Corp. put New 140,000 $10.4M GLD SPDR Gold Shares call New 32,500 $9.9M FCX Freeport-McMoran Inc. call Sold out 250,000 $9.5Mbefore exit KGS Kodiak Gas Services Inc. put New 275,000 $9.4M AR Antero Resources Corp. call New 225,000 $9.1M XIFR XPLR Infrastructure LP put New 1,100,000 $9.0M EXE Expand Energy Corp. put New 75,000 $8.8M GEV GE Vernova Inc. put New 16,500 $8.7M FCX Freeport-McMoran Inc. put New 200,000 $8.7M TECK Teck Resources Ltd.-CLS B put Reduce -52.9% 165,000 $6.7M URA Global X Uranium ETF put New 150,000 $5.8M TLN Talen Energy Corp. call New 20,000 $5.8M AM Antero Midstream Corp. put Sold out 300,000 $5.4Mbefore exit NRG NRG Energy Inc. put New 32,500 $5.2M HUT Hut 8 Corp. call New 250,000 $4.7M FSLR First Solar Inc. call New 23,000 $3.8M CORZ Core Scientific Inc. call New 200,000 $3.4M NGL NGL Energy Partners LP call Reduce -42.6% 350,000 $1.5M NGL NGL Energy Partners LP put Sold out 178,700 $811Kbefore exit
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