Vennlight Capital Management, LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), Vennlight Capital Management, LP reported 17 stock positions worth $91.1 million . Its top holding was Terrestrial Energy (IMSR) at 12.5% of the portfolio, followed by Talen Energy (TLN, 12.3% ) and Spire (SR, 9.9% ). Compared with Q1 2025, it opened 14 new positions, sold out of 2, added to 1 and reduced 2. The biggest buy was a new position in Terrestrial Energy (IMSR) and the biggest sale an exit from TXNM Energy (TXNM).
Location WESTON, CT
CIK 0002013462
Portfolio Value $91.1M (Q2 2025) Holdings 17 stocks · $91.1M 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 IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP 1,027,934 $11.4M New TLN Talen Energy Corp. 38,550 $11.2M New SR Spire Inc. 123,300 $9.0M New HUT Hut 8 Corp. 464,992 $8.6M Add +5.1% GLXY Galaxy Digital Inc. Class A 390,248 $8.5M New VST Vistra Corp. 43,304 $8.4M Reduce -33.8% UGI Ugi Corp. 144,845 $5.3M New CIFR Cipher Digital Inc. 1,042,379 $5.0M Reduce -36.1% HTO H2O America 94,266 $4.9M New OKLO Oklo Inc. 87,474 $4.9M New AES AES Corp. 424,291 $4.5M New POR Portland General Electric Co. 84,800 $3.4M New PBR Petroleo Brasileiro-Spon ADR 162,000 $2.0M New CORZ Core Scientific Inc. 90,267 $1.5M New NEE Nextera Energy Inc. 14,896 $1.0M New GPRK Geopark Ltd. 108,800 $709K New EDN Emp Distrib Y Comerc Nor-ADR filed as EMPRESA DIST Y COMERCIAL NOR 24,900 $660K New
Options reported separately and not counted above: AES calls ($947K).
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 ▲ TXNM TXNM Energy Inc. Sold out 0.00% −56.20 WULF Terawulf Inc. Sold out 0.00% −8.67 VST Vistra Corp. Reduce -33.8% 9.21% −7.07 CIFR Cipher Digital Inc. Reduce -36.1% 5.47% −2.49
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 ▼ IMSR Terrestrial Energy Inc. New 12.52% +12.52 TLN Talen Energy Corp. New 12.30% +12.30 SR Spire Inc. New 9.87% +9.87 GLXY Galaxy Digital Inc. Class A New 9.38% +9.38 UGI Ugi Corp. New 5.79% +5.79 HTO H2O America New 5.38% +5.38 OKLO Oklo Inc. New 5.37% +5.37 AES AES Corp. New 4.90% +4.90 POR Portland General Electric Co. New 3.78% +3.78 PBR Petroleo Brasileiro-Spon ADR New 2.22% +2.22 CORZ Core Scientific Inc. New 1.69% +1.69 NEE Nextera Energy Inc. New 1.13% +1.13 GPRK Geopark Ltd. New 0.78% +0.78 EDN Emp Distrib Y Comerc Nor-ADR New 0.72% +0.72 HUT Hut 8 Corp. Add +5.1% 9.49% −1.41
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ AES AES Corp. call New 90,000 $947K
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 32 $149.2M BKV, FER, PAM, PPL, HTO Q1 2026 18 $99.0M FER, HTO, TGS, PAM, MWH Q4 2025 24 $85.7M XEL, FER, GPRK, CPK, WULF Q3 2025 25 $76.9M IMSR, SMR, PCG, TLN, AES Q2 2025 17 $91.1M IMSR, TLN, SR, HUT, GLXY Q1 2025 5 $47.2M TXNM, VST, HUT, WULF, CIFR Q4 2024 15 $105.3M TXNM, ETR, TLN, EVRG, XEL