Ripple Effect Asset Management LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 14, 2026), Ripple Effect Asset Management LP reported 13 stock positions worth $143.6 million . Its top holding was XPLR Infrastructure (XIFR) at 18.8% of the portfolio, followed by Kodiak Gas Services (KGS, 18.6% ) and Vistra (VST, 10.5% ). Compared with Q4 2025, it opened 5 new positions, sold out of 3, added to 5 and reduced 3. The biggest buy was a new position in Vistra (VST) and the biggest sale Kodiak Gas Services (KGS, shares −58% ).
Location New York, NY
CIK 0002031590
Portfolio Value $143.6M (Q1 2026) Holdings 13 stocks · $143.6M 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 2025 XIFR XPLR Infrastructure LP 2,538,720 $27.0M Add +20.9% KGS Kodiak Gas Services Inc. 458,000 $26.7M Reduce -58.2% VST Vistra Corp. 100,000 $15.0M New IE Ivanhoe Electric Inc. / US 1,240,225 $14.7M Add +30.6% WMB Williams Cos Inc. 162,000 $11.8M Reduce -50.6% AR Antero Resources Corp. 257,862 $10.9M New NEXT Nextdecade Corp. 1,339,723 $10.3M Add +123.3% CCJ Cameco Corp. 78,192 $8.5M Reduce -39.9% TLN Talen Energy Corp. 22,509 $7.2M Add +125.1% CF CF Industries Holdings Inc. 38,289 $5.0M New WULF Terawulf Inc. 212,370 $3.1M New HUT Hut 8 Corp. 63,534 $3.0M Add +253.0% BKV BKV Corporation 19,000 $542K New
Options reported separately and not counted above: IWM calls ($347.2M), XIFR puts ($44.3M), KGS puts ($42.6M), NEXT puts ($19.1M), IE puts ($16.5M), CRK calls ($14.0M), VST puts ($13.5M), AR puts ($12.1M), WMB puts ($9.8M), CCJ puts ($9.6M), TLN puts ($6.4M).
Portfolio Sells Q4 2025 → Q1 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▲ KGS Kodiak Gas Services Inc. Reduce -58.2% 18.60% −14.13 WMB Williams Cos Inc. Reduce -50.6% 8.21% −7.53 CCJ Cameco Corp. Reduce -39.9% 5.91% −3.58 AES AES Corp. Sold out 0.00% −3.43 VRT Vertiv Holdings Co. Class A Sold out 0.00% −2.26 CEG Constellation Energy Sold out 0.00% −1.27
Portfolio Buys Q4 2025 → Q1 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q4 2025 % Of Portfolio Change To Portfolio ▼ VST Vistra Corp. New 10.47% +10.47 AR Antero Resources Corp. New 7.62% +7.62 NEXT Nextdecade Corp. Add +123.3% 7.15% +4.62 CF CF Industries Holdings Inc. New 3.46% +3.46 WULF Terawulf Inc. New 2.13% +2.13 TLN Talen Energy Corp. Add +125.1% 5.00% +2.01 XIFR XPLR Infrastructure LP Add +20.9% 18.78% +2.01 HUT Hut 8 Corp. Add +253.0% 2.08% +1.42 BKV BKV Corporation New 0.38% +0.38 IE Ivanhoe Electric Inc. / US Add +30.6% 10.21% −1.91
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ IWM iShares Russell 2000 ETF call New 1,400,000 $347.2M SPY SS SPDR S&P 500 ETF Trust-US put Sold out 77,500 $52.8Mbefore exit XIFR XPLR Infrastructure LP put Add +89.8% 4,175,000 $44.3M KGS Kodiak Gas Services Inc. put Reduce -27.1% 730,100 $42.6M VST Vistra Corp. call Sold out 140,000 $22.6Mbefore exit NEXT Nextdecade Corp. put Add +255.8% 2,490,500 $19.1M IWM iShares Russell 2000 ETF put Sold out 75,000 $18.5Mbefore exit IE Ivanhoe Electric Inc. / US put Add +74.6% 1,396,600 $16.5M CRK Comstock Resources Inc. call New 665,700 $14.0M VST Vistra Corp. put New 90,000 $13.5M AR Antero Resources Corp. put New 285,000 $12.1M WMB Williams Cos Inc. put Reduce -61.7% 134,100 $9.8M CCJ Cameco Corp. put Reduce -41.3% 88,000 $9.6M AR Antero Resources Corp. call Sold out 250,000 $8.6Mbefore exit TLN Talen Energy Corp. put New 20,000 $6.4M VG Venture Global Inc. Class A put Sold out 625,000 $4.3Mbefore exit CCJ Cameco Corp. call Sold out 40,000 $3.7Mbefore exit XIFR XPLR Infrastructure LP call Sold out 150,000 $1.5Mbefore exit SMR Nuscale Power Corp. put Sold out 80,000 $1.1Mbefore 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