Yaupon Capital Management LP In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 15, 2024), Yaupon Capital Management LP reported 78 stock positions worth $1.2 billion . Its top holding was Cenovus Energy (CVE) at 5.2% of the portfolio, followed by Teck Resources Ltd.-CLS B (TECK, 3.9% ) and Suncor Energy (SU, 3.5% ). Compared with Q4 2023, it opened 31 new positions, sold out of 38, added to 21 and reduced 24. The biggest buy was a new position in Suncor Energy (SU) and the biggest sale an exit from Oneok (OKE).
Location NEW YORK, NY
CIK 0001755028
Portfolio Value $1.2B (Q1 2024) Holdings 78 stocks · $1.2B Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q4 2023 CVE Cenovus Energy Inc. 2,992,322 $59.8M Add +68.5% TECK Teck Resources Ltd.-CLS B 977,999 $44.8M Add +30.9% SU Suncor Energy Inc. 1,098,567 $40.5M New PXD Pioneer Natural Resources Co. 147,605 $38.7M New MPC Marathon Petroleum Corp. 176,205 $35.5M Reduce -29.6% VLO Valero Energy Corp. 207,000 $35.3M Add +234.5% ETRN Equitrans Midstream Corp. 2,619,431 $32.7M Reduce -32.7% LNG Cheniere Energy Inc. 198,963 $32.1M Reduce -9.8% NEXT Nextdecade Corp. 5,562,385 $31.6M Add +13.3% PPL PPL Corp. 1,139,592 $31.4M Add +83.1% SHEL Shell PLC-ADR 462,345 $31.0M Reduce -30.8% NI Nisource Inc. 1,117,421 $30.9M Add +40.2% KNTK Kinetik Holdings Inc. 774,193 $30.9M New EVRG Evergy Inc. 573,710 $30.6M Add +136.3% XOM Exxon Mobil Corp. 236,029 $27.4M Add +193.2% PEG Public Service Enterprise GP 410,673 $27.4M New APD Air Products & Chemicals Inc. 105,614 $25.6M New D Dominion Energy Inc. 504,437 $24.8M New MRO Marathon Oil Corp. 802,242 $22.7M Add +4.9% TRP TC Energy Corp. 557,660 $22.4M New FTI Technipfmc PLC 805,305 $20.2M Add +4931.0% PARR Par Pacific Holdings Inc. 520,621 $19.3M Add +31.8% CMS CMS Energy Corp. 310,113 $18.7M Reduce -16.0% WFRD Weatherford International PL 160,784 $18.6M New MTDR Matador Resources Co. 267,700 $17.9M New VNOM Viper Energy Inc. 444,301 $17.1M Add +137.8% TS Tenaris SA-ADR 419,664 $16.5M Reduce -16.7% OR Osisko Gold Royalties Ltd. 972,900 $16.0M New DTE DTE Energy Company 141,645 $15.9M Reduce -7.7% CNP Centerpoint Energy Inc. 501,987 $14.3M Add +73.3% AES AES Corp. 780,960 $14.0M Add +76.4% FCX Freeport-McMoran Inc. 288,680 $13.6M New EQT Eqt Corp. 356,077 $13.2M Add +55.3% OVV Ovintiv Inc. 252,944 $13.1M Reduce -12.3% NRG NRG Energy Inc. 188,400 $12.8M Add +116.5% CTRA Coterra Energy Inc. 398,387 $11.1M Reduce -19.1% CRGY Crescent Energy Inc. Class A 900,000 $10.7M New HBM Hudbay Minerals Inc. 1,499,693 $10.5M Add +12.5% GEV GE Vernova Inc. 75,000 $10.3M New NFG National Fuel Gas Co. 187,338 $10.1M New PRIM Primoris Services Corp. 232,302 $9.9M Reduce -12.0% WLK Westlake Corp. 61,300 $9.4M New ATO Atmos Energy Corp. 78,662 $9.4M New ETR Entergy Corp. 85,932 $9.1M Reduce -30.3% ALE Allete Inc. 150,504 $9.0M Add +19.8% PR Permian Resources Corp. Class A 505,115 $8.9M Reduce -74.7% SHLS Shoals Technologies Group -A 797,579 $8.9M Add +88.0% SRE Sempra 123,170 $8.8M Reduce -57.8% ODFL Old Dominion Freight Line 39,400 $8.6M New ADM Archer-Daniels-Midland Co. 134,752 $8.5M New DAR Darling Ingredients Inc. 181,795 $8.5M Reduce -23.7% ASTL Algoma Steel Group Inc. 902,573 $7.7M New CWEN Clearway Energy Inc. Class C 318,707 $7.3M New GT Goodyear Tire & Rubber Co. 515,393 $7.1M Reduce -41.3% PNW Pinnacle West Capital 90,707 $6.8M New WIRE Encore Wire Corp. 25,400 $6.7M New CSX CSX Corp. 177,800 $6.6M New OXY Occidental Petroleum Corp. 100,000 $6.5M Reduce -27.1% AR Antero Resources Corp. 222,830 $6.5M Reduce -44.8% CLNE Clean Energy Fuels Corp. 2,256,958 $6.0M Add +0.0% SBOW Silverbow Resources Inc. 149,588 $5.1M Reduce -21.6% HCC Warrior Met Coal Inc. 74,977 $4.6M New SLDP Solid Power Inc. 2,231,506 $4.5M Reduce -3.3% MDU Mdu Resources Group Inc. 178,894 $4.5M New SAIA Saia Inc. 7,300 $4.3M New DK Delek US Holdings Inc. 135,234 $4.2M New NXT Nextpower Inc. filed as NEXTRACKER INC 73,800 $4.2M Reduce -52.7% OPAL Opal Fuels Inc. Class A 598,099 $3.0M No change NOV Nov Inc. 150,370 $2.9M Reduce -62.9% TAC Transalta Corp. 417,169 $2.7M Reduce -21.3% ECVT Ecovyst Inc. 208,051 $2.3M Reduce -18.2% NOVAQ Sunnova Energy International 299,392 $1.8M Add +7.4% FMC FMC Corp. 25,000 $1.6M New VST Vistra Corp. 19,776 $1.4M Reduce -85.6% GLNG Golar LNG Ltd. 31,740 $764K New CHX Championx Corp. 6,344 $228K New NUVVE HOLDING CORP 12,600 $14K New TRITIUM DCFC LIMITED 63,640 $3K No change
Options reported separately and not counted above: SPY puts ($366.1M), XLE calls ($75.5M), ETRN calls ($34.3M), TALO puts ($30.6M), TECK calls ($27.0M), OKE puts ($24.1M), HAL puts ($23.7M), DAR calls ($22.1M), POR puts ($21.0M), VST puts ($20.9M), BG puts ($20.5M), TXNM calls ($18.8M), and 12 more.
Other holdings (2): bonds, preferreds, convertibles and warrants · $43K (not counted above) Security Class Shares / Principal Value Change AIRJW Power & Digital Acq -CW24 *W EXP 03/15/202 75,000 $42K New PHYWF PHYT WS -CW *W EXP 05/03/202 12,500 $314 No change
Total filed on the 13F, all lines: $1.2B.
Portfolio Sells Q4 2023 → Q1 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▲ OKE Oneok Inc. Sold out 0.00% −2.75 DVN Devon Energy Corp. Sold out 0.00% −2.44 CVX Chevron Corp. Sold out 0.00% −2.23 PR Permian Resources Corp. Class A Reduce -74.7% 0.77% −2.18 LNT Alliant Energy Corp. Sold out 0.00% −2.09 SHEL Shell PLC-ADR Reduce -30.8% 2.68% −2.09 SWN Southwestern Energy Co. Sold out 0.00% −1.88 CF CF Industries Holdings Inc. Sold out 0.00% −1.81 WEX Wex Inc. Sold out 0.00% −1.63 SRE Sempra Reduce -57.8% 0.76% −1.60 DUK Duke Energy Corp. Sold out 0.00% −1.59 CPE Callon Petroleum Co. Sold out 0.00% −1.54 ETRN Equitrans Midstream Corp. Reduce -32.7% 2.83% −1.47 WM Waste Management Inc. Sold out 0.00% −1.40 LNG Cheniere Energy Inc. Reduce -9.8% 2.77% −1.31 GTLS Chart Industries Inc. Sold out 0.00% −1.19 LIN Linde PLC Sold out 0.00% −1.15 MPC Marathon Petroleum Corp. Reduce -29.6% 3.07% −0.96 LTHM Livent Corp. Sold out 0.00% −0.94 PCG P G & E Corp. Sold out 0.00% −0.93 KRP Kimbell Royalty Partners LP Sold out 0.00% −0.84 GT Goodyear Tire & Rubber Co. Reduce -41.3% 0.61% −0.75 CMS CMS Energy Corp. Reduce -16.0% 1.62% −0.71 ENLC Enlink Midstream LLC Sold out 0.00% −0.65 NOV Nov Inc. Reduce -62.9% 0.25% −0.64 CTVA Corteva Inc. Sold out 0.00% −0.57 ETR Entergy Corp. Reduce -30.3% 0.78% −0.57 DAR Darling Ingredients Inc. Reduce -23.7% 0.73% −0.56 GM General Motors Co. Sold out 0.00% −0.49 APTV Aptiv Irish Holdings Ltd. Sold out 0.00% −0.48 TS Tenaris SA-ADR Reduce -16.7% 1.42% −0.48 DTE DTE Energy Company Reduce -7.7% 1.37% −0.46 VST Vistra Corp. Reduce -85.6% 0.12% −0.46 OGE Oge Energy Corp. Sold out 0.00% −0.45 STEM Stem Inc. Sold out 0.00% −0.44 AR Antero Resources Corp. Reduce -44.8% 0.56% −0.43 NXT Nextpower Inc. Reduce -52.7% 0.36% −0.43 CTRA Coterra Energy Inc. Reduce -19.1% 0.96% −0.40 UUUU Energy Fuels Inc. Sold out 0.00% −0.39 OXY Occidental Petroleum Corp. Reduce -27.1% 0.56% −0.33 TXNM TXNM Energy Inc. Sold out 0.00% −0.31 RUN Sunrun Inc. Sold out 0.00% −0.28 MYRG MYR Group Inc./Delaware Sold out 0.00% −0.26 TAC Transalta Corp. Reduce -21.3% 0.23% −0.25 OVV Ovintiv Inc. Reduce -12.3% 1.13% −0.24 AMPS Altus Power Inc. Sold out 0.00% −0.23 GPOR Gulfport Energy Corp. Sold out 0.00% −0.19 GEVO Gevo Inc. Sold out 0.00% −0.18 SBOW Silverbow Resources Inc. Reduce -21.6% 0.44% −0.16 WPM Wheaton Precious Metals Corp. Sold out 0.00% −0.13
Portfolio Buys Q4 2023 → Q1 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q4 2023 % Of Portfolio Change To Portfolio ▼ SU Suncor Energy Inc. New 3.50% +3.50 PXD Pioneer Natural Resources Co. New 3.35% +3.35 KNTK Kinetik Holdings Inc. New 2.67% +2.67 PEG Public Service Enterprise GP New 2.37% +2.37 APD Air Products & Chemicals Inc. New 2.21% +2.21 VLO Valero Energy Corp. Add +234.5% 3.05% +2.18 D Dominion Energy Inc. New 2.14% +2.14 CVE Cenovus Energy Inc. Add +68.5% 5.17% +1.96 TRP TC Energy Corp. New 1.94% +1.94 FTI Technipfmc PLC Add +4931.0% 1.75% +1.71 WFRD Weatherford International PL New 1.60% +1.60 MTDR Matador Resources Co. New 1.54% +1.54 XOM Exxon Mobil Corp. Add +193.2% 2.37% +1.50 OR Osisko Gold Royalties Ltd. New 1.38% +1.38 EVRG Evergy Inc. Add +136.3% 2.64% +1.27 FCX Freeport-McMoran Inc. New 1.17% +1.17 CRGY Crescent Energy Inc. Class A New 0.92% +0.92 GEV GE Vernova Inc. New 0.89% +0.89 PPL PPL Corp. Add +83.1% 2.71% +0.88 NFG National Fuel Gas Co. New 0.87% +0.87 VNOM Viper Energy Inc. Add +137.8% 1.48% +0.84 WLK Westlake Corp. New 0.81% +0.81 ATO Atmos Energy Corp. New 0.81% +0.81 ODFL Old Dominion Freight Line New 0.75% +0.75 ADM Archer-Daniels-Midland Co. New 0.73% +0.73 ASTL Algoma Steel Group Inc. New 0.66% +0.66 CWEN Clearway Energy Inc. Class C New 0.63% +0.63 NRG NRG Energy Inc. Add +116.5% 1.10% +0.61 PNW Pinnacle West Capital New 0.59% +0.59 WIRE Encore Wire Corp. New 0.58% +0.58 CSX CSX Corp. New 0.57% +0.57 TECK Teck Resources Ltd.-CLS B Add +30.9% 3.87% +0.44 HCC Warrior Met Coal Inc. New 0.39% +0.39 MDU Mdu Resources Group Inc. New 0.39% +0.39 NI Nisource Inc. Add +40.2% 2.67% +0.38 SAIA Saia Inc. New 0.37% +0.37 DK Delek US Holdings Inc. New 0.36% +0.36 CNP Centerpoint Energy Inc. Add +73.3% 1.24% +0.34 AES AES Corp. Add +76.4% 1.21% +0.29 NEXT Nextdecade Corp. Add +13.3% 2.73% +0.19 EQT Eqt Corp. Add +55.3% 1.14% +0.18 FMC FMC Corp. New 0.14% +0.14 PARR Par Pacific Holdings Inc. Add +31.8% 1.67% +0.11 HBM Hudbay Minerals Inc. Add +12.5% 0.91% +0.11 GLNG Golar LNG Ltd. New 0.07% +0.07 SHLS Shoals Technologies Group -A Add +88.0% 0.77% +0.06 CHX Championx Corp. New 0.02% +0.02 NUVVE HOLDING CORP New 0.00% +0.00 MRO Marathon Oil Corp. Add +4.9% 1.96% −0.04 ALE Allete Inc. Add +19.8% 0.78% −0.06
Options Activity Q4 2023 → Q1 2024 Security Type Change vs Q4 2023 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Add +250.0% 700,000 $366.1M XLE SS Energy Select Sector call New 800,000 $75.5M ETRN Equitrans Midstream Corp. call Reduce -15.4% 2,750,000 $34.3M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 400,000 $31.0Mbefore exit TALO Talos Energy Inc. put New 2,200,000 $30.6M TECK Teck Resources Ltd.-CLS B call Add +194.8% 589,500 $27.0M PSX Phillips 66 put Sold out 200,000 $26.6Mbefore exit TSLA Tesla Inc. put Sold out 100,000 $24.8Mbefore exit OKE Oneok Inc. put New 300,000 $24.1M HAL Halliburton Co. put New 600,000 $23.7M DAR Darling Ingredients Inc. call Add +58.3% 475,000 $22.1M POR Portland General Electric Co. put New 500,000 $21.0M VST Vistra Corp. put New 300,000 $20.9M BG Bunge Global SA put Add +33.3% 200,000 $20.5M TXNM TXNM Energy Inc. call New 500,000 $18.8M DINO HF Sinclair Corp. put Add +200.0% 300,000 $18.1M AVA Avista Corp. put New 500,000 $17.5M NFG National Fuel Gas Co. call New 300,000 $16.1M CIVI Civitas Resources Inc. put New 200,000 $15.2M TRGP Targa Resources Corp. put New 103,500 $11.6M PBF PBF Energy Inc. Class A call New 200,000 $11.5M UGI Ugi Corp. call Sold out 459,200 $11.3Mbefore exit AES AES Corp. call New 600,000 $10.8M BKR Baker Hughes Co. put New 300,000 $10.1M D Dominion Energy Inc. call New 200,000 $9.8M FCX Freeport-McMoran Inc. call New 200,000 $9.4M CNP Centerpoint Energy Inc. call New 300,000 $8.5M AR Antero Resources Corp. call Sold out 325,000 $7.4Mbefore exit LTHM Livent Corp. call Sold out 300,000 $5.4Mbefore exit CRK Comstock Resources Inc. call Sold out 200,000 $1.8Mbefore exit
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2023 → Q1 2024 Security Class Change vs Q4 2023 Shares / Principal Value ▼ AIRJW Power & Digital Acq -CW24 *W EXP 03/15/202 New 75,000 $42K
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