In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 5, 2025), Teilinger Capital Ltd. reported 10 stock positions worth $131.2 million . Its top holding was Evergy (EVRG) at 30.5% of the portfolio, followed by Strategy (MSTR, 14.3% ) and Xcel Energy (XEL, 12.9% ). Compared with Q3 2024, it opened 5 new positions, sold out of 2 and reduced 5. The biggest buy was a new position in Strategy (MSTR) and the biggest sale PPL (PPL, shares −67% ).
Location HOUSTON, TX
CIK 0001531879
Portfolio Value $131.2M (Q4 2024) Holdings 10 stocks · $131.2M 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 Q3 2024 EVRG Evergy Inc. 650,000 $40.0M Reduce -7.1% MSTR Strategy Inc. filed as MICROSTRATEGY INC 65,000 $18.8M New XEL Xcel Energy Inc. 250,000 $16.9M Reduce -23.1% PPL PPL Corp. 490,000 $15.9M Reduce -67.3% PCG P G & E Corp. 500,000 $10.1M Reduce -28.6% ES Eversource Energy 150,000 $8.6M New NRG NRG Energy Inc. 90,000 $8.1M New CNP Centerpoint Energy Inc. 160,000 $5.1M Reduce -82.2% LNG Cheniere Energy Inc. 19,000 $4.1M New NOVAQ Sunnova Energy International 1,045,991 $3.6M New
Options reported separately and not counted above: MSTR puts ($157.6M), MSTR calls ($141.6M), TSLA calls ($54.1M), TSLA puts ($46.0M), PYPL calls ($36.2M), SMCI calls ($2.8M).
Other holdings (1): bonds, preferreds, convertibles and warrants · $90K (not counted above) Security Class Shares / Principal Value Change NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 25,000 $90K No change
Total filed on the 13F, all lines: $131.3M.
Portfolio Sells Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ PPL PPL Corp. Reduce -67.3% 12.12% −17.62 CNP Centerpoint Energy Inc. Reduce -82.2% 3.87% −12.00 SMCI Super Micro Computer Inc. Sold out 0.00% −3.74 AES AES Corp. Sold out 0.00% −3.61 PCG P G & E Corp. Reduce -28.6% 7.69% −0.60 XEL Xcel Energy Inc. Reduce -23.1% 12.87% +0.15 EVRG Evergy Inc. Reduce -7.1% 30.50% +4.48
Portfolio Buys Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ MSTR Strategy Inc. New 14.35% +14.35 ES Eversource Energy New 6.57% +6.57 NRG NRG Energy Inc. New 6.19% +6.19 LNG Cheniere Energy Inc. New 3.11% +3.11 NOVAQ Sunnova Energy International New 2.73% +2.73
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ MSTR Strategy Inc. put New 544,100 $157.6M MSTR Strategy Inc. call New 489,000 $141.6M TSLA Tesla Inc. call New 134,000 $54.1M TSLA Tesla Inc. put New 114,000 $46.0M PYPL PayPal Holdings Inc. call Reduce -52.9% 423,900 $36.2M SMCI Super Micro Computer Inc. put Sold out 301,000 $12.5Mbefore exit SMCI Super Micro Computer Inc. call Reduce -86.4% 93,200 $2.8M
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 5 $151.4M XEL, DTE, PCG, NRG, BABA Q1 2026 6 $155.2M XEL, DTE, PCG, BABA, PPL Q4 2025 5 $98.1M EVRG, DTE, XEL, PPL, BABA Q3 2025 6 $93.2M EVRG, ETR, XEL, NEE, PCG Q2 2025 4 $97.9M EVRG, XEL, PCG, ETR Q1 2025 6 $100.0M EVRG, XEL, PCG, NVDA, D Q4 2024 10 $131.2M EVRG, MSTR, XEL, PPL, PCG Q3 2024 7 $166.8M PPL, EVRG, CNP, XEL, PCG Q2 2024 13 $209.9M NOVAQ, XEL, PPL, EVRG, USMV Q1 2024 Amended 13 $233.0M USMV, NOVAQ, IEI, PPL, NI