Yaupon Capital Management LP
In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Yaupon Capital Management LP reported 104 stock positions worth $3.0 billion. Its top holding was National Fuel Gas (NFG) at 4.0% of the portfolio, followed by Devon Energy (DVN, 2.9%) and Nisource (NI, 2.8%). Compared with Q1 2026, it opened 46 new positions, sold out of 24, added to 36 and reduced 13. The biggest buy was a new position in Devon Energy (DVN) and the biggest sale an exit from Coterra Energy (CTRA).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001755028
- Portfolio Value
- $3.0B (Q2 2026)
- SEC Filing
- 0001755028-26-000005 ↗ filed Aug 14, 2026
Holdings Value
Holdings 104 stocks · $3.0B
| NFG National Fuel Gas Co. | 4.02% | 1,559,618 | $120.4M | Add +49.5% |
| DVN Devon Energy Corp. | 2.90% | 2,102,988 | $86.9M | New |
| NI Nisource Inc. | 2.78% | 1,749,831 | $83.2M | Add +40.8% |
| OVV Ovintiv Inc. | 2.71% | 1,540,608 | $81.1M | Add +40.5% |
| WMB Williams Cos Inc. | 2.70% | 1,088,549 | $80.9M | Add +126.2% |
| BKV BKV Corporation | 2.53% | 2,768,719 | $75.8M | Add +35.7% |
| VST Vistra Corp. | 2.49% | 470,483 | $74.6M | Add +4.2% |
| TLN Talen Energy Corp. | 2.48% | 193,647 | $74.4M | Add +144.6% |
| CVE Cenovus Energy Inc. | 2.39% | 2,891,599 | $71.7M | Add +1.1% |
| ETR Entergy Corp. | 2.36% | 615,956 | $70.7M | Add +224.9% |
| FSLR First Solar Inc. | 2.14% | 272,379 | $64.3M | New |
| PR Permian Resources Corp. Class A | 2.07% | 3,367,361 | $62.0M | Add +11.4% |
| PEG Public Service Enterprise GP | 1.91% | 706,023 | $57.3M | Add +6.0% |
| DUK Duke Energy Corp. | 1.90% | 449,340 | $56.9M | Add +33.0% |
| AEP American Electric Power | 1.88% | 412,431 | $56.4M | New |
| FPS Forgent Power Solutions Class A | 1.86% | 1,000,000 | $55.9M | Add +150.0% |
| LGN Legence Corp. Class A | 1.78% | 627,256 | $53.5M | New |
| HTO H2O America | 1.73% | 851,846 | $51.8M | Reduce -4.9% |
| KNTK Kinetik Holdings Inc. | 1.62% | 1,002,184 | $48.4M | New |
| DTE DTE Energy Company | 1.51% | 297,977 | $45.4M | Add +16.6% |
| DINO HF Sinclair Corp. | 1.49% | 639,708 | $44.6M | Add +9475.0% |
| AWK American Water Works Co. Inc. | 1.46% | 333,442 | $43.9M | Add +4.9% |
| FCX Freeport-McMoran Inc. | 1.45% | 691,546 | $43.5M | New |
| CSX CSX Corp. | 1.44% | 908,799 | $43.2M | Reduce -32.8% |
| FDXF FedEx Freight Holding Co. | 1.40% | 277,234 | $41.9M | New |
| AR Antero Resources Corp. | 1.39% | 1,184,416 | $41.6M | New |
| NBIS Nebius Group NV | 1.35% | 146,543 | $40.5M | New |
| RRX Regal Rexnord Corp. | 1.30% | 163,233 | $38.9M | New |
| LNG Cheniere Energy Inc. | 1.28% | 160,123 | $38.3M | New |
| DTM DT Midstream Inc. | 1.26% | 258,344 | $37.9M | Add +38.1% |
| HUT Hut 8 Corp. | 1.26% | 328,319 | $37.9M | Reduce -63.8% |
| EQT Eqt Corp. | 1.26% | 709,535 | $37.7M | Add +53.9% |
| NSC Norfolk Southern Corp. | 1.25% | 119,479 | $37.6M | New |
| STM Stmicroelectronics NV-NY SHS | 1.24% | 495,223 | $37.1M | New |
| TRGP Targa Resources Corp. | 1.23% | 137,392 | $36.8M | Add +5.0% |
| PRIM Primoris Services Corp. | 1.21% | 366,972 | $36.4M | New |
| ATI Ati Inc. | 1.18% | 180,204 | $35.5M | New |
| CMI Cummins Inc. | 1.17% | 48,996 | $34.9M | New |
| BP BP PLC-Spons ADR | 1.16% | 942,850 | $34.8M | Reduce -0.6% |
| BKH Black Hills Corp. | 1.14% | 458,430 | $34.1M | Add +85.9% |
| PAGP Plains GP Holdings LP | 1.10% | 1,354,670 | $32.9M | Add +74.1% |
| AEE Ameren Corporation | 1.07% | 284,065 | $32.1M | Reduce -29.5% |
| DPC DPC Holdings PLC | 1.00% | 619,542 | $30.0M | New |
| UNP Union Pacific Corp. | 0.98% | 108,219 | $29.4M | New |
| TAC Transalta Corp. | 0.95% | 2,065,064 | $28.6M | Add +15.4% |
| DE Deere & Co. | 0.94% | 44,193 | $28.0M | New |
| CIFR Cipher Digital Inc. | 0.89% | 1,091,463 | $26.7M | New |
| VLO Valero Energy Corp. | 0.88% | 101,156 | $26.3M | New |
| MWH Solv Energy Inc. Class A | 0.85% | 750,000 | $25.5M | Add +3.5% |
| VNOM Viper Energy Inc. Class A | 0.79% | 555,319 | $23.5M | Add +16.4% |
| XIFR XPLR Infrastructure LP | 0.77% | 1,944,751 | $23.0M | Reduce -8.9% |
| COP Conocophillips | 0.76% | 220,427 | $22.9M | Add +5.0% |
| SHEL Shell PLC-ADR | 0.75% | 290,199 | $22.5M | Reduce -29.5% |
| CLF Cleveland-Cliffs Inc. | 0.73% | 2,345,191 | $22.0M | New |
| B Barrick Mining Corp. | 0.73% | 593,232 | $21.8M | Add +26.1% |
| SR Spire Inc. | 0.69% | 265,458 | $20.7M | Add +253.1% |
| TBN Tamboran Resources Corp. | 0.68% | 623,534 | $20.3M | Add +16.5% |
| DAR Darling Ingredients Inc. | 0.66% | 359,999 | $19.7M | Add +276.1% |
| AES AES Corp. | 0.65% | 1,323,277 | $19.4M | Reduce -44.8% |
| SOLS Solstice Adv Materials Inc. | 0.62% | 209,487 | $18.6M | New |
| MGEE Mge Energy Inc. | 0.54% | 200,000 | $16.3M | New |
| USAR USA Rare Earth Inc. | 0.50% | 700,000 | $15.1M | No change |
| KRSP Rice Acquisition Corp. 3-A | 0.50% | 1,425,829 | $15.0M | No change |
| KBON Karbon Capital Partners Class A | 0.50% | 1,470,000 | $14.8M | No change |
| EE Excelerate Energy Inc. Class A | 0.49% | 390,353 | $14.8M | Add +98.2% |
| FRVO Fervo Energy Co. Class A | 0.49% | 500,000 | $14.6M | New |
| KGS Kodiak Gas Services Inc. | 0.48% | 190,000 | $14.3M | New |
| ROK Rockwell Automation Inc. | 0.48% | 28,793 | $14.3M | New |
| INIO Innio NV | 0.46% | 350,000 | $13.8M | New |
| GLNG Golar LNG Ltd. | 0.44% | 262,547 | $13.1M | New |
| FTAI Ftai Aviation Ltd. | 0.44% | 48,251 | $13.1M | New |
| PCT Purecycle Technologies Inc. | 0.42% | 1,566,684 | $12.7M | New |
| EROK Eaglerock Land LLC Class A | 0.38% | 535,716 | $11.4M | New |
| ALUB Alussa Energy Acquisit II-A | 0.37% | 1,100,080 | $11.0M | No change |
| TLNCU Talon Capital Corp. | 0.35% | 1,000,000 | $10.5M | No change |
| CENX Century Aluminum Company | 0.34% | 223,861 | $10.3M | Add +6.0% |
| SSMR Sunshine Silver Mining & Ref | 0.33% | 750,000 | $9.9M | New |
| YSWY Yesway Inc. Class A | 0.30% | 437,375 | $8.9M | New |
| TH Target Hospitality Corp. | 0.30% | 435,097 | $8.9M | New |
| INR Infinity Natural Resour Class A | 0.28% | 654,255 | $8.3M | Add +20.2% |
| NWE Northwestern Energy Group Inc. | 0.26% | 110,131 | $7.9M | Add +5.0% |
| TECK Teck Resources Ltd.-CLS B | 0.25% | 128,432 | $7.6M | Add +5.0% |
| NEXT Nextdecade Corp. | 0.25% | 1,003,907 | $7.6M | New |
| XE X-Energy Inc. | 0.24% | 400,000 | $7.3M | New |
| COHR Coherent Corp. | 0.24% | 18,140 | $7.2M | Reduce -84.5% |
| WTTR Select Water Solutions Inc. | 0.22% | 331,852 | $6.6M | New |
| BTDR Bitdeer Technologies Group-A | 0.21% | 401,909 | $6.4M | New |
| LITE Lumentum Holdings Inc. | 0.20% | 6,935 | $6.0M | Reduce -68.8% |
| KRP Kimbell Royalty Partners LP | 0.18% | 364,866 | $5.3M | Reduce -29.2% |
| AUR Aurora Innovation Inc. | 0.17% | 750,000 | $5.1M | New |
| HCIC Hennessy Capital Invest-A | 0.17% | 500,000 | $5.0M | No change |
| TXNM TXNM Energy Inc. | 0.16% | 83,808 | $4.8M | Reduce -52.1% |
| CRGY Crescent Energy Inc. Class A | 0.13% | 400,211 | $3.9M | New |
| EROC Erock Inc. Class A | 0.12% | 250,000 | $3.6M | New |
| QNT Quantinuum Inc. Class A | 0.11% | 40,000 | $3.3M | New |
| CEPF Cantor Equity Partners Class A | 0.11% | 312,094 | $3.2M | No change |
| WULF Terawulf Inc. | 0.10% | 125,000 | $3.1M | New |
| WOLF Wolfspeed Inc. | 0.10% | 61,427 | $3.0M | Reduce -19.9% |
| CDLR Cadeler A/S-ADR | 0.07% | 101,284 | $2.2M | Add +5.4% |
| SPKLF Spark I Acquisition Corp. | 0.07% | 156,250 | $2.0M | New |
Options reported separately and not counted above: SPY puts ($1.4B), TLT calls ($152.1M), FSLR calls ($86.1M), APD puts ($73.3M), XLU puts ($68.0M), OKE puts ($65.2M), MTZ puts ($62.4M), NEE puts ($43.9M), NFG calls ($23.2M), VST puts ($15.9M), EQNR puts ($15.7M), VG puts ($11.5M), and 2 more.
Other holdings (6): bonds, preferreds, convertibles and warrants · $671K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| KRSP.WS Rice Acquisition Corp. 3 | *W EXP 99/99/999 | 237,637 | $235K | No change |
| KBONW Karbon Capital Partners Corp. | *W EXP 12/11/203 | 367,499 | $199K | No change |
| ALUB.WS Alussa Energy Acquisition-30 | *W EXP 99/99/999 | 366,666 | $146K | No change |
| HCICR Hennessy Capital Investm-RTS | RIGHT 02/02/2031 | 500,000 | $81K | No change |
| PAII.WS Pyrophyte Acquisition Corp. I | *W EXP 07/30/203 | 10,354 | $5K | No change |
| PURECYCLE TECHNOLOGIES INC | NOTE 4.750% 7/0 · principal | 5,000 | $5K | New |
Total filed on the 13F, all lines: $3.0B.
Portfolio Sells Q1 2026 → Q2 2026
| CTRA Coterra Energy Inc. | Sold out | 0.00% | −4.70 |
| TRP TC Energy Corp. | Sold out | 0.00% | −2.13 |
| CMS CMS Energy Corp. | Sold out | 0.00% | −1.73 |
| PNW Pinnacle West Capital | Sold out | 0.00% | −1.52 |
| CNP Centerpoint Energy Inc. | Sold out | 0.00% | −1.40 |
| CSX CSX Corp. | Reduce -32.8% | 1.44% | −1.30 |
| MTDR Matador Resources Co. | Sold out | 0.00% | −1.22 |
| FTI Technipfmc PLC | Sold out | 0.00% | −1.18 |
| SHEL Shell PLC-ADR | Reduce -29.5% | 0.75% | −1.14 |
| COHR Coherent Corp. | Reduce -84.5% | 0.24% | −1.14 |
| LYB Lyondellbasell Indu Class A | Sold out | 0.00% | −1.12 |
| AEE Ameren Corporation | Reduce -29.5% | 1.07% | −1.12 |
| KEX Kirby Corp. | Sold out | 0.00% | −1.09 |
| BP BP PLC-Spons ADR | Reduce -0.6% | 1.16% | −1.04 |
| AES AES Corp. | Reduce -44.8% | 0.65% | −1.02 |
| HTO H2O America | Reduce -4.9% | 1.73% | −0.87 |
| HUT Hut 8 Corp. | Reduce -63.8% | 1.26% | −0.83 |
| IDA Idacorp Inc. | Sold out | 0.00% | −0.80 |
| OGE Oge Energy Corp. | Sold out | 0.00% | −0.76 |
| HBM Hudbay Minerals Inc. | Sold out | 0.00% | −0.67 |
| WLK Westlake Corp. | Sold out | 0.00% | −0.62 |
| SARO Standardaero Inc. | Sold out | 0.00% | −0.59 |
| CNR Core Natural Resources Inc. | Sold out | 0.00% | −0.59 |
| LITE Lumentum Holdings Inc. | Reduce -68.8% | 0.20% | −0.57 |
| MDU Mdu Resources Group Inc. | Sold out | 0.00% | −0.56 |
| NXT Nextpower Inc. | Sold out | 0.00% | −0.55 |
| CWEN.A Clearway Energy Inc. Class A | Sold out | 0.00% | −0.54 |
| FLOC Flowco Holdings Inc. Class A | Sold out | 0.00% | −0.46 |
| POR Portland General Electric Co. | Sold out | 0.00% | −0.46 |
| CORZ Core Scientific Inc. | Sold out | 0.00% | −0.38 |
| XIFR XPLR Infrastructure LP | Reduce -8.9% | 0.77% | −0.35 |
| TXNM TXNM Energy Inc. | Reduce -52.1% | 0.16% | −0.35 |
| CC The Chemours Co. | Sold out | 0.00% | −0.29 |
| KRP Kimbell Royalty Partners LP | Reduce -29.2% | 0.18% | −0.19 |
| SEDG Solaredge Technologies Inc. | Sold out | 0.00% | −0.08 |
| ASPI Asp Isotopes Inc. | Sold out | 0.00% | −0.07 |
| WOLF Wolfspeed Inc. | Reduce -19.9% | 0.10% | +0.04 |
Portfolio Buys Q1 2026 → Q2 2026
| DVN Devon Energy Corp. | New | 2.90% | +2.90 |
| FSLR First Solar Inc. | New | 2.14% | +2.14 |
| AEP American Electric Power | New | 1.88% | +1.88 |
| LGN Legence Corp. Class A | New | 1.78% | +1.78 |
| KNTK Kinetik Holdings Inc. | New | 1.62% | +1.62 |
| DINO HF Sinclair Corp. | Add +9475.0% | 1.49% | +1.47 |
| FCX Freeport-McMoran Inc. | New | 1.45% | +1.45 |
| FDXF FedEx Freight Holding Co. | New | 1.40% | +1.40 |
| AR Antero Resources Corp. | New | 1.39% | +1.39 |
| NBIS Nebius Group NV | New | 1.35% | +1.35 |
| ETR Entergy Corp. | Add +224.9% | 2.36% | +1.31 |
| RRX Regal Rexnord Corp. | New | 1.30% | +1.30 |
| FPS Forgent Power Solutions Class A | Add +150.0% | 1.86% | +1.29 |
| LNG Cheniere Energy Inc. | New | 1.28% | +1.28 |
| NSC Norfolk Southern Corp. | New | 1.25% | +1.25 |
| STM Stmicroelectronics NV-NY SHS | New | 1.24% | +1.24 |
| TLN Talen Energy Corp. | Add +144.6% | 2.48% | +1.23 |
| PRIM Primoris Services Corp. | New | 1.21% | +1.21 |
| ATI Ati Inc. | New | 1.18% | +1.18 |
| CMI Cummins Inc. | New | 1.17% | +1.17 |
| DPC DPC Holdings PLC | New | 1.00% | +1.00 |
| UNP Union Pacific Corp. | New | 0.98% | +0.98 |
| WMB Williams Cos Inc. | Add +126.2% | 2.70% | +0.97 |
| DE Deere & Co. | New | 0.94% | +0.94 |
| CIFR Cipher Digital Inc. | New | 0.89% | +0.89 |
| VLO Valero Energy Corp. | New | 0.88% | +0.88 |
| CLF Cleveland-Cliffs Inc. | New | 0.73% | +0.73 |
| SOLS Solstice Adv Materials Inc. | New | 0.62% | +0.62 |
| MGEE Mge Energy Inc. | New | 0.54% | +0.54 |
| FRVO Fervo Energy Co. Class A | New | 0.49% | +0.49 |
| KGS Kodiak Gas Services Inc. | New | 0.48% | +0.48 |
| ROK Rockwell Automation Inc. | New | 0.48% | +0.48 |
| INIO Innio NV | New | 0.46% | +0.46 |
| GLNG Golar LNG Ltd. | New | 0.44% | +0.44 |
| FTAI Ftai Aviation Ltd. | New | 0.44% | +0.44 |
| PCT Purecycle Technologies Inc. | New | 0.42% | +0.42 |
| EROK Eaglerock Land LLC Class A | New | 0.38% | +0.38 |
| DAR Darling Ingredients Inc. | Add +276.1% | 0.66% | +0.36 |
| SR Spire Inc. | Add +253.1% | 0.69% | +0.36 |
| SSMR Sunshine Silver Mining & Ref | New | 0.33% | +0.33 |
| YSWY Yesway Inc. Class A | New | 0.30% | +0.30 |
| TH Target Hospitality Corp. | New | 0.30% | +0.30 |
| BKH Black Hills Corp. | Add +85.9% | 1.14% | +0.29 |
| NEXT Nextdecade Corp. | New | 0.25% | +0.25 |
| XE X-Energy Inc. | New | 0.24% | +0.24 |
| WTTR Select Water Solutions Inc. | New | 0.22% | +0.22 |
| BTDR Bitdeer Technologies Group-A | New | 0.21% | +0.21 |
| AUR Aurora Innovation Inc. | New | 0.17% | +0.17 |
| EE Excelerate Energy Inc. Class A | Add +98.2% | 0.49% | +0.17 |
| PAGP Plains GP Holdings LP | Add +74.1% | 1.10% | +0.16 |
Options Activity Q1 2026 → Q2 2026
| SPY SS SPDR S&P 500 ETF Trust-US | put | Add +138.3% | 1,930,000 | $1.4B |
| TLT iShares 20+ Year Treasury BD | call | New | 1,760,000 | $152.1M |
| XOM Exxon Mobil Corp. | put | Sold out | 833,200 | $141.4Mbefore exit |
| SPY SS SPDR S&P 500 ETF Trust-US | call | Sold out | 200,000 | $130.1Mbefore exit |
| APH Amphenol Corp. Class A | put | Sold out | 800,000 | $101.1Mbefore exit |
| FSLR First Solar Inc. | call | New | 365,000 | $86.1M |
| APD Air Products & Chemicals Inc. | put | New | 250,000 | $73.3M |
| AWK American Water Works Co. Inc. | call | Sold out | 500,000 | $68.0Mbefore exit |
| XLU St Sr Utl SL SE SPDR ETF-Usd | put | New | 1,500,000 | $68.0M |
| TEL Te Connectivity PLC | put | Sold out | 319,300 | $66.7Mbefore exit |
| OKE Oneok Inc. | put | New | 750,000 | $65.2M |
| MTZ Mastec Inc. | put | New | 150,000 | $62.4M |
| NEE Nextera Energy Inc. | put | New | 500,000 | $43.9M |
| PBF PBF Energy Inc. Class A | put | Sold out | 900,000 | $42.9Mbefore exit |
| CSX CSX Corp. | call | Sold out | 1,000,000 | $41.0Mbefore exit |
| NFG National Fuel Gas Co. | call | New | 300,000 | $23.2M |
| ETR Entergy Corp. | call | Sold out | 200,000 | $22.5Mbefore exit |
| VST Vistra Corp. | put | New | 100,000 | $15.9M |
| NEXT Nextdecade Corp. | call | Sold out | 2,062,800 | $15.8Mbefore exit |
| VG Venture Global Inc. Class A | put | New | 1,031,000 | $11.5M |
| CCJ Cameco Corp. | put | New | 100,000 | $10.2M |
| CLF Cleveland-Cliffs Inc. | call | New | 700,000 | $6.6M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q1 2026 → Q2 2026
| PURECYCLE TECHNOLOGIES INC | NOTE 4.750% 7/0 · principal | New | 5,000 | $5K |
Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 104 | $3.0B | NFG, DVN, NI, OVV, WMB |
| Q1 2026 | 82 | $2.0B | NFG, CTRA, CVE, VST, OVV |
| Q4 2025 | 89 | $2.0B | NFG, BP, CVE, OVV, CRH |
| Q3 2025 | 92 | $1.9B | BP, AWK, SHEL, AES, CVE |
| Q2 2025 | 83 | $1.5B | BP, SHEL, EVRG, AEP, ETR |
| Q1 2025 | 67 | $1.4B | AEP, BP, SHEL, OVV, ETR |
| Q4 2024 | 88 | $1.6B | XEL, ED, TRP, BP, PR |
| Q3 2024 | 78 | $1.5B | TECK, PR, EQT, FANG, BKR |
| Q2 2024 | 76 | $1.1B | HES, TRP, CVE, SHEL, SU |
| Q1 2024 | 78 | $1.2B | CVE, TECK, SU, PXD, MPC |