Vennlight Capital Management, LP In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 14, 2025), Vennlight Capital Management, LP reported 25 stock positions worth $76.9 million . Its top holding was Terrestrial Energy (IMSR) at 10.7% of the portfolio, followed by Nuscale Power (SMR, 9.0% ) and P G & E (PCG, 7.9% ). Compared with Q2 2025, it opened 17 new positions, sold out of 9, added to 1 and reduced 7. The biggest buy was a new position in Nuscale Power (SMR) and the biggest sale an exit from Spire (SR).
Location WESTON, CT
CIK 0002013462
Portfolio Value $76.9M (Q3 2025) Holdings 25 stocks · $76.9M 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 Q2 2025 IMSR Terrestrial Energy Inc. filed as HCM II ACQUISITION CORP 500,000 $8.2M Reduce -51.4% SMR Nuscale Power Corp. 192,406 $6.9M New PCG P G & E Corp. 403,105 $6.1M New TLN Talen Energy Corp. 12,865 $5.5M Reduce -66.6% AES AES Corp. 384,814 $5.1M Reduce -9.3% VST Vistra Corp. 20,180 $4.0M Reduce -53.4% UUUU Energy Fuels Inc. 240,500 $3.7M New MTZ Mastec Inc. 14,556 $3.1M New APLD Applied Digital Corp. 125,000 $2.9M New GLXY Galaxy Digital Inc. Class A 84,500 $2.9M Reduce -78.3% CWEN Clearway Energy Inc. Class C 96,950 $2.7M New CORZ Core Scientific Inc. 150,000 $2.7M Add +66.2% CMS CMS Energy Corp. 31,917 $2.3M New EMR Emerson Electric Co. 16,800 $2.2M New CEG Constellation Energy 6,365 $2.1M New XEL Xcel Energy Inc. 25,900 $2.1M New EVRG Evergy Inc. 27,300 $2.1M New MSTR Strategy Inc. 6,317 $2.0M New NRG NRG Energy Inc. 12,500 $2.0M New HUT Hut 8 Corp. 57,691 $2.0M Reduce -87.6% WULF Terawulf Inc. 175,126 $2.0M New CIFR Cipher Digital Inc. 87,200 $1.1M Reduce -91.6% ES Eversource Energy 15,300 $1.1M New SRE Sempra 12,000 $1.1M New RIOT Riot Platforms Inc. 56,600 $1.1M New
Portfolio Sells Q2 2025 → Q3 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▲ SR Spire Inc. Sold out 0.00% −9.87 HUT Hut 8 Corp. Reduce -87.6% 2.61% −6.88 UGI Ugi Corp. Sold out 0.00% −5.79 GLXY Galaxy Digital Inc. Class A Reduce -78.3% 3.72% −5.66 HTO H2O America Sold out 0.00% −5.38 OKLO Oklo Inc. Sold out 0.00% −5.37 TLN Talen Energy Corp. Reduce -66.6% 7.12% −5.18 VST Vistra Corp. Reduce -53.4% 5.14% −4.06 CIFR Cipher Digital Inc. Reduce -91.6% 1.43% −4.04 POR Portland General Electric Co. Sold out 0.00% −3.78 PBR Petroleo Brasileiro-Spon ADR Sold out 0.00% −2.22 IMSR Terrestrial Energy Inc. Reduce -51.4% 10.68% −1.84 NEE Nextera Energy Inc. Sold out 0.00% −1.13 GPRK Geopark Ltd. Sold out 0.00% −0.78 EDN Emp Distrib Y Comerc Nor-ADR Sold out 0.00% −0.72 AES AES Corp. Reduce -9.3% 6.59% +1.69
Portfolio Buys Q2 2025 → Q3 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024
Stock Change vs Q2 2025 % Of Portfolio Change To Portfolio ▼ SMR Nuscale Power Corp. New 9.01% +9.01 PCG P G & E Corp. New 7.91% +7.91 UUUU Energy Fuels Inc. New 4.80% +4.80 MTZ Mastec Inc. New 4.03% +4.03 APLD Applied Digital Corp. New 3.73% +3.73 CWEN Clearway Energy Inc. Class C New 3.56% +3.56 CMS CMS Energy Corp. New 3.04% +3.04 EMR Emerson Electric Co. New 2.87% +2.87 CEG Constellation Energy New 2.73% +2.73 XEL Xcel Energy Inc. New 2.72% +2.72 EVRG Evergy Inc. New 2.70% +2.70 MSTR Strategy Inc. New 2.65% +2.65 NRG NRG Energy Inc. New 2.63% +2.63 WULF Terawulf Inc. New 2.60% +2.60 CORZ Core Scientific Inc. Add +66.2% 3.50% +1.81 ES Eversource Energy New 1.42% +1.42 SRE Sempra New 1.40% +1.40 RIOT Riot Platforms Inc. New 1.40% +1.40
Options Activity Q2 2025 → Q3 2025 Security Type Change vs Q2 2025 Underlying Shares Value ▼ AES AES Corp. call Sold out 90,000 $947Kbefore 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 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