Vennlight Capital Management, LP In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Vennlight Capital Management, LP reported 18 stock positions worth $99.0 million . Its top holding was Ferrovial (FER) at 13.2% of the portfolio, followed by H2O America (HTO, 9.6% ) and Transportador Gas-ADR SP B (TGS, 9.6% ). Compared with Q4 2025, it opened 11 new positions, sold out of 17, added to 5 and reduced 2. The biggest buy was a new position in H2O America (HTO) and the biggest sale an exit from Xcel Energy (XEL).
Location WESTON, CT
CIK 0002013462
Portfolio Value $99.0M (Q1 2026) Holdings 18 stocks · $99.0M 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 FER Ferrovial NV 200,455 $13.0M Add +73.0% HTO H2O America 162,217 $9.5M New TGS Transportador Gas-ADR SP B 274,049 $9.5M New PAM Pampa Energia SA-Spon ADR 105,963 $9.4M New MWH Solv Energy Inc. Class A 272,818 $8.2M New BKV BKV Corporation 235,363 $6.7M New DGXX Digi Power X Inc. filed as DIGI PWR X INC 2,919,404 $5.9M Add +66.5% CLSK Cleanspark Inc. 644,865 $5.5M New ETR Entergy Corp. 45,000 $5.1M Add +43.6% GLXY Galaxy Digital Inc. Class A 227,889 $4.2M Add +153.0% WULF Terawulf Inc. 258,133 $3.7M Reduce -38.5% IMSR Terrestrial Energy Inc. 575,499 $3.5M New HUT Hut 8 Corp. 69,001 $3.2M New BTDR Bitdeer Technologies Group-A 360,442 $3.1M Add +292.2% ES Eversource Energy 40,500 $2.8M New ENPH Enphase Energy Inc. 55,448 $2.1M New PCG P G & E Corp. 119,300 $2.1M New NKLR Terra Innovatum Global NV 306,833 $1.4M Reduce -50.6%
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 ▲ XEL Xcel Energy Inc. Sold out 0.00% −13.12 GPRK Geopark Ltd. Sold out 0.00% −6.83 CPK Chesapeake Utilities Corp. Sold out 0.00% −6.35 LNT Alliant Energy Corp. Sold out 0.00% −5.43 CIFR Cipher Digital Inc. Sold out 0.00% −5.07 IDA Idacorp Inc. Sold out 0.00% −4.45 NI Nisource Inc. Sold out 0.00% −4.44 BE Bloom Energy Corp. Class A Sold out 0.00% −3.70 SR Spire Inc. Sold out 0.00% −3.47 AES AES Corp. Sold out 0.00% −2.57 BWXT BWX Technologies Inc. Sold out 0.00% −2.49 IREN Iren Ltd. Sold out 0.00% −2.33 BITF Bitfarms Ltd./Canada Sold out 0.00% −2.29 HIVE Hive Digital Technologies LT Sold out 0.00% −2.28 APLD Applied Digital Corp. Sold out 0.00% −2.18 TLN Talen Energy Corp. Sold out 0.00% −1.94 NKLR Terra Innovatum Global NV Reduce -50.6% 1.44% −1.91 WULF Terawulf Inc. Reduce -38.5% 3.76% −1.86 ETN Eaton Corp. PLC Sold out 0.00% −1.20
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 ▼ HTO H2O America New 9.62% +9.62 TGS Transportador Gas-ADR SP B New 9.58% +9.58 PAM Pampa Energia SA-Spon ADR New 9.48% +9.48 MWH Solv Energy Inc. Class A New 8.28% +8.28 BKV BKV Corporation New 6.78% +6.78 CLSK Cleanspark Inc. New 5.55% +5.55 FER Ferrovial NV Add +73.0% 13.18% +4.44 IMSR Terrestrial Energy Inc. New 3.49% +3.49 HUT Hut 8 Corp. New 3.27% +3.27 ES Eversource Energy New 2.84% +2.84 ENPH Enphase Energy Inc. New 2.12% +2.12 PCG P G & E Corp. New 2.12% +2.12 BTDR Bitdeer Technologies Group-A Add +292.2% 3.15% +1.95 GLXY Galaxy Digital Inc. Class A Add +153.0% 4.25% +1.90 ETR Entergy Corp. Add +43.6% 5.11% +1.73 DGXX Digi Power X Inc. Add +66.5% 5.99% +0.77
Options Activity Q4 2025 → Q1 2026 Security Type Change vs Q4 2025 Underlying Shares Value ▼ IMSR Terrestrial Energy Inc. call Sold out 1,077,500 $6.6Mbefore exit FLNC Fluence Energy Inc. put Sold out 50,000 $989Kbefore exit WULF Terawulf Inc. call Sold out 57,500 $661Kbefore exit IREN Iren Ltd. call Sold out 16,000 $604Kbefore 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