Teilinger Capital Ltd.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Teilinger Capital Ltd. reported 6 stock positions worth $93.2 million. Its top holding was Evergy (EVRG) at 47.3% of the portfolio, followed by Entergy (ETR, 19.0%) and Xcel Energy (XEL, 17.7%). Compared with Q2 2025, it opened 2 new positions, added to 1 and reduced 3. The biggest buy was a new position in Nextera Energy (NEE) and the biggest sale P G & E (PCG, shares −77%).

Most Recent 13F
Q2 2026
Location
HOUSTON, TX
CIK
0001531879
Portfolio Value
$93.2M (Q3 2025)
SEC Filing
0001546531-25-000018 ↗ filed Nov 14, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M$250.0M Q1 2024: $233.0M Q1 2024 Q2 2024: $209.9M Q2 2024 Q3 2024: $166.8M Q3 2024 Q4 2024: $131.2M Q4 2024 Q1 2025: $100.0M Q1 2025 Q2 2025: $97.9M Q2 2025 Q3 2025: $93.2M $93.2M Q3 2025 Q4 2025: $98.1M Q4 2025 Q1 2026: $155.2M Q1 2026 Q2 2026: $151.4M Q2 2026

Holdings 6 stocks · $93.2M
EVRG Evergy Inc. 47.33% 580,000 $44.1M Reduce -14.7%
ETR Entergy Corp. 19.00% 190,000 $17.7M Add +26.7%
XEL Xcel Energy Inc. 17.75% 205,000 $16.5M Reduce -31.7%
NEE Nextera Energy Inc. 6.48% 80,000 $6.0M New
PCG P G & E Corp. 4.86% 300,000 $4.5M Reduce -76.9%
PPL PPL Corp. 4.59% 115,000 $4.3M New

Options reported separately and not counted above: BABA calls ($19.7M), BABA puts ($2.3M).

Other holdings (1): bonds, preferreds, convertibles and warrants · $19K (not counted above)
SecurityClassShares / PrincipalValueChange
NPWR.WS Rice Acquisition Corp. II-CW *W EXP 06/08/202 25,000$19KNo change

Total filed on the 13F, all lines: $93.2M.

Portfolio Sells Q2 2025 → Q3 2025
PCG P G & E Corp. Reduce -76.9% 4.86% −13.66
XEL Xcel Energy Inc. Reduce -31.7% 17.75% −3.12
EVRG Evergy Inc. Reduce -14.7% 47.33% −0.56

Portfolio Buys Q2 2025 → Q3 2025
NEE Nextera Energy Inc. New 6.48% +6.48
ETR Entergy Corp. Add +26.7% 19.00% +6.27
PPL PPL Corp. New 4.59% +4.59

Options Activity Q2 2025 → Q3 2025
BABA Alibaba Group Holding-SP ADR call New 110,100 $19.7M
ADBE Adobe Inc. call Sold out 12,200 $4.7Mbefore exit
BABA Alibaba Group Holding-SP ADR put New 12,600 $2.3M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 5$151.4MXEL, DTE, PCG, NRG, BABA
Q1 2026 6$155.2MXEL, DTE, PCG, BABA, PPL
Q4 2025 5$98.1MEVRG, DTE, XEL, PPL, BABA
Q3 2025 6$93.2MEVRG, ETR, XEL, NEE, PCG
Q2 2025 4$97.9MEVRG, XEL, PCG, ETR
Q1 2025 6$100.0MEVRG, XEL, PCG, NVDA, D
Q4 2024 10$131.2MEVRG, MSTR, XEL, PPL, PCG
Q3 2024 7$166.8MPPL, EVRG, CNP, XEL, PCG
Q2 2024 13$209.9MNOVAQ, XEL, PPL, EVRG, USMV
Q1 2024Amended 13$233.0MUSMV, NOVAQ, IEI, PPL, NI