Yaupon Capital Management LP

In its 13F for Q3 2024 (holdings as of September 30, 2024, filed November 14, 2024), Yaupon Capital Management LP reported 78 stock positions worth $1.5 billion. Its top holding was Teck Resources Ltd.-CLS B (TECK) at 4.2% of the portfolio, followed by Permian Resources Class A (PR, 3.4%) and Eqt (EQT, 3.2%). Compared with Q2 2024, it opened 27 new positions, sold out of 25, added to 33 and reduced 18. The biggest buy was a new position in Eqt (EQT) and the biggest sale an exit from Equitrans Midstream (ETRN).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001755028
Portfolio Value
$1.5B (Q3 2024)
SEC Filing
0001085146-24-005760 ↗ filed Nov 14, 2024

Holdings Value

0$1.0B$2.0B$3.0B Q1 2024: $1.2B Q1 2024 Q2 2024: $1.1B Q2 2024 Q3 2024: $1.5B $1.5B Q3 2024 Q4 2024: $1.6B Q4 2024 Q1 2025: $1.4B Q1 2025 Q2 2025: $1.5B Q2 2025 Q3 2025: $1.9B Q3 2025 Q4 2025: $2.0B Q4 2025 Q1 2026: $2.0B Q1 2026 Q2 2026: $3.0B Q2 2026

Holdings 78 stocks · $1.5B
TECK Teck Resources Ltd.-CLS B 4.19% 1,195,896 $62.5M Add +79.6%
PR Permian Resources Corp. Class A 3.42% 3,748,416 $51.0M Add +225.0%
EQT Eqt Corp. 3.22% 1,310,133 $48.0M New
FANG Diamondback Energy Inc. 3.18% 275,000 $47.4M New
BKR Baker Hughes Co. 3.17% 1,308,333 $47.3M New
SHEL Shell PLC-ADR 3.07% 693,641 $45.7M Add +35.5%
OKE Oneok Inc. 3.03% 495,924 $45.2M New
HESM Hess Midstream LP Class A 2.96% 1,250,000 $44.1M New
PRIM Primoris Services Corp. 2.73% 699,817 $40.6M Add +28.4%
HES Hess Corp. 2.68% 294,638 $40.0M Reduce -13.5%
MTDR Matador Resources Co. 2.47% 744,037 $36.8M Add +565.4%
TRP TC Energy Corp. 2.45% 769,458 $36.6M Reduce -37.3%
DTE DTE Energy Company 2.41% 279,476 $35.9M Add +23.2%
PPL PPL Corp. 2.38% 1,071,837 $35.5M Add +19.9%
EVRG Evergy Inc. 2.25% 540,162 $33.5M Add +2.2%
GFL GFL Environmental Inc.-Sub VT 1.96% 734,568 $29.3M Add +7.6%
UNP Union Pacific Corp. 1.94% 117,484 $29.0M New
NSC Norfolk Southern Corp. 1.93% 115,905 $28.8M New
SU Suncor Energy Inc. 1.93% 779,280 $28.8M Reduce -18.3%
NI Nisource Inc. 1.91% 822,522 $28.5M Reduce -19.5%
TAC Transalta Corp. 1.87% 2,685,955 $27.8M Add +69.9%
CVE Cenovus Energy Inc. 1.86% 1,661,010 $27.8M Reduce -26.0%
AEE Ameren Corporation 1.63% 278,779 $24.4M Reduce -25.8%
ATO Atmos Energy Corp. 1.62% 174,500 $24.2M Add +17.0%
D Dominion Energy Inc. 1.59% 410,973 $23.8M Reduce -21.8%
CMS CMS Energy Corp. 1.59% 334,807 $23.6M Reduce -27.0%
NFG National Fuel Gas Co. 1.58% 387,756 $23.5M Reduce -26.0%
PNW Pinnacle West Capital 1.49% 250,291 $22.2M New
FSLR First Solar Inc. 1.42% 85,098 $21.2M Add +66.6%
NEXT Nextdecade Corp. 1.30% 4,129,181 $19.4M Add +1.7%
FE Firstenergy Corp. 1.26% 424,985 $18.8M Reduce -3.8%
CTRA Coterra Energy Inc. 1.22% 759,813 $18.2M Add +17.0%
GEV GE Vernova Inc. 1.22% 71,147 $18.1M Reduce -66.4%
VNOM Viper Energy Inc. 1.21% 400,000 $18.0M New
CF CF Industries Holdings Inc. filed as CF INDS HLDGS INC 1.17% 203,231 $17.4M New
WAB Wabtec Corp. 1.14% 93,649 $17.0M New
BKV BKV Corporation 1.13% 924,851 $16.9M New
HBM Hudbay Minerals Inc. 1.05% 1,710,455 $15.7M Add +25.9%
SRE Sempra 1.00% 178,679 $14.9M Reduce -50.1%
OR Osisko Gold Royalties Ltd. 0.98% 792,838 $14.7M Reduce -20.6%
SHW The Sherwin-Williams Co. 0.98% 38,340 $14.6M New
LNG Cheniere Energy Inc. 0.96% 79,405 $14.3M New
TXNM TXNM Energy Inc. 0.95% 323,487 $14.2M Add +13.8%
PEG Public Service Enterprise GP 0.81% 134,752 $12.0M Reduce -27.6%
AQN Algonquin Power & Utilities 0.80% 2,201,336 $12.0M New
SDRL Seadrill Limited 0.80% 300,349 $11.9M Add +150.8%
ED Consolidated Edison Inc. 0.78% 112,216 $11.7M New
PCG P G & E Corp. 0.77% 582,228 $11.5M Add +18.0%
VRN Veren Inc. 0.75% 1,805,096 $11.1M Add +79.2%
DUK Duke Energy Corp. 0.72% 93,599 $10.8M New
PARR Par Pacific Holdings Inc. 0.71% 604,828 $10.6M Add +17.0%
LB Landbridge Co. LLC-A 0.71% 270,062 $10.6M Reduce -46.0%
OVV Ovintiv Inc. 0.69% 269,881 $10.3M Add +47.8%
CWEN Clearway Energy Inc. Class C 0.67% 325,643 $10.0M Add +209.3%
PAGP Plains GP Holdings LP 0.66% 528,231 $9.8M New
ASTL Algoma Steel Group Inc. 0.61% 895,906 $9.2M New
SR Spire Inc. 0.60% 132,075 $8.9M Add +17.0%
SHLS Shoals Technologies Group -A 0.58% 1,530,289 $8.6M New
BTU Peabody Energy Corp. 0.57% 319,661 $8.5M New
CLNE Clean Energy Fuels Corp. 0.54% 2,573,358 $8.0M Add +4.9%
CIVI Civitas Resources Inc. 0.51% 150,811 $7.6M Add +54.0%
ALTM Arcadium Lithium PLC 0.49% 2,560,339 $7.3M New
GNRC Generac Holdings Inc. 0.47% 44,577 $7.1M Add +17.0%
KNTK Kinetik Holdings Inc. 0.46% 152,056 $6.9M Reduce -42.8%
CENX Century Aluminum Company 0.35% 322,024 $5.2M Add +401.5%
PBF PBF Energy Inc. Class A 0.33% 161,045 $5.0M Add +23.6%
XPRO Expro Group Holdings NV 0.33% 288,301 $5.0M Add +318.3%
CDLR Cadeler A/S-ADR 0.22% 114,641 $3.2M Add +61.0%
SLDP Solid Power Inc. 0.22% 2,379,462 $3.2M Add +27.5%
TBN Tamboran Resources Corp. 0.19% 139,355 $2.8M Add +7.2%
MOS The Mosaic Co. 0.17% 96,067 $2.6M Reduce -84.5%
OPAL Opal Fuels Inc. Class A 0.17% 700,054 $2.6M Add +17.1%
FLS Flowserve Corp. 0.17% 47,841 $2.5M New
MIR Mirion Technologies Inc. 0.16% 214,042 $2.4M New
KGS Kodiak Gas Services Inc. 0.14% 73,946 $2.1M New
ALE Allete Inc. 0.14% 33,326 $2.1M Reduce -54.1%
BTE Baytex Energy Corp. 0.10% 500,000 $1.5M New
OKLO Oklo Inc. 0.09% 174,564 $1.4M New

Options reported separately and not counted above: XLU puts ($72.7M), XOP puts ($65.8M), TRGP puts ($51.9M), HAL puts ($37.0M), NFG calls ($21.3M), KRE puts ($20.7M), IDA puts ($20.6M), CE puts ($13.6M), TECK calls ($10.9M), TALO puts ($9.7M), UGI calls ($8.8M), CTRA puts ($7.5M), and 2 more.

Portfolio Sells Q2 2024 → Q3 2024
ETRN Equitrans Midstream Corp. Sold out 0.00% −2.12
CVE Cenovus Energy Inc. Reduce -26.0% 1.86% −2.08
GEV GE Vernova Inc. Reduce -66.4% 1.22% −2.03
MPC Marathon Petroleum Corp. Sold out 0.00% −2.02
HES Hess Corp. Reduce -13.5% 2.68% −1.80
TRP TC Energy Corp. Reduce -37.3% 2.45% −1.70
DVN Devon Energy Corp. Sold out 0.00% −1.63
ETR Entergy Corp. Sold out 0.00% −1.60
XOM Exxon Mobil Corp. Sold out 0.00% −1.45
CHX Championx Corp. Sold out 0.00% −1.43
SRE Sempra Reduce -50.1% 1.00% −1.43
MOS The Mosaic Co. Reduce -84.5% 0.17% −1.42
SU Suncor Energy Inc. Reduce -18.3% 1.93% −1.31
NFG National Fuel Gas Co. Reduce -26.0% 1.58% −0.96
CMS CMS Energy Corp. Reduce -27.0% 1.59% −0.85
GPOR Gulfport Energy Corp. Sold out 0.00% −0.85
CNP Centerpoint Energy Inc. Sold out 0.00% −0.82
APD Air Products & Chemicals Inc. Sold out 0.00% −0.79
AEE Ameren Corporation Reduce -25.8% 1.63% −0.75
NI Nisource Inc. Reduce -19.5% 1.91% −0.71
D Dominion Energy Inc. Reduce -21.8% 1.59% −0.71
DAR Darling Ingredients Inc. Sold out 0.00% −0.67
CNM Core & Main Inc. Class A Sold out 0.00% −0.66
VLO Valero Energy Corp. Sold out 0.00% −0.62
AES AES Corp. Sold out 0.00% −0.60
SBOW Silverbow Resources Inc. Sold out 0.00% −0.53
GT Goodyear Tire & Rubber Co. Sold out 0.00% −0.52
KNTK Kinetik Holdings Inc. Reduce -42.8% 0.46% −0.52
LBRT Liberty Energy Inc. Sold out 0.00% −0.45
PEG Public Service Enterprise GP Reduce -27.6% 0.81% −0.42
CSX CSX Corp. Sold out 0.00% −0.42
OR Osisko Gold Royalties Ltd. Reduce -20.6% 0.98% −0.40
MDU Mdu Resources Group Inc. Sold out 0.00% −0.40
FCX Freeport-McMoran Inc. Sold out 0.00% −0.39
ATMU Atmus Filtration Technologie Sold out 0.00% −0.38
HCC Warrior Met Coal Inc. Sold out 0.00% −0.37
FLNC Fluence Energy Inc. Sold out 0.00% −0.36
LB Landbridge Co. LLC-A Reduce -46.0% 0.71% −0.32
WEX Wex Inc. Sold out 0.00% −0.27
ALE Allete Inc. Reduce -54.1% 0.14% −0.26
FE Firstenergy Corp. Reduce -3.8% 1.26% −0.25
CONSOL ENERGY INC Sold out 0.00% −0.23
UGI Ugi Corp. Sold out 0.00% −0.20

Portfolio Buys Q2 2024 → Q3 2024
EQT Eqt Corp. New 3.22% +3.22
FANG Diamondback Energy Inc. New 3.18% +3.18
BKR Baker Hughes Co. New 3.17% +3.17
OKE Oneok Inc. New 3.03% +3.03
HESM Hess Midstream LP Class A New 2.96% +2.96
UNP Union Pacific Corp. New 1.94% +1.94
NSC Norfolk Southern Corp. New 1.93% +1.93
MTDR Matador Resources Co. Add +565.4% 2.47% +1.87
PR Permian Resources Corp. Class A Add +225.0% 3.42% +1.76
PNW Pinnacle West Capital New 1.49% +1.49
TECK Teck Resources Ltd.-CLS B Add +79.6% 4.19% +1.34
VNOM Viper Energy Inc. New 1.21% +1.21
CF CF Industries Holdings Inc. New 1.17% +1.17
WAB Wabtec Corp. New 1.14% +1.14
BKV BKV Corporation New 1.13% +1.13
SHW The Sherwin-Williams Co. New 0.98% +0.98
LNG Cheniere Energy Inc. New 0.96% +0.96
TAC Transalta Corp. Add +69.9% 1.87% +0.87
AQN Algonquin Power & Utilities New 0.80% +0.80
ED Consolidated Edison Inc. New 0.78% +0.78
DUK Duke Energy Corp. New 0.72% +0.72
PAGP Plains GP Holdings LP New 0.66% +0.66
ASTL Algoma Steel Group Inc. New 0.61% +0.61
SHLS Shoals Technologies Group -A New 0.58% +0.58
BTU Peabody Energy Corp. New 0.57% +0.57
ALTM Arcadium Lithium PLC New 0.49% +0.49
CWEN Clearway Energy Inc. Class C Add +209.3% 0.67% +0.44
FSLR First Solar Inc. Add +66.6% 1.42% +0.40
PRIM Primoris Services Corp. Add +28.4% 2.73% +0.30
CENX Century Aluminum Company Add +401.5% 0.35% +0.25
SDRL Seadrill Limited Add +150.8% 0.80% +0.25
XPRO Expro Group Holdings NV Add +318.3% 0.33% +0.19
PPL PPL Corp. Add +19.9% 2.38% +0.17
FLS Flowserve Corp. New 0.17% +0.17
MIR Mirion Technologies Inc. New 0.16% +0.16
DTE DTE Energy Company Add +23.2% 2.41% +0.16
KGS Kodiak Gas Services Inc. New 0.14% +0.14
BTE Baytex Energy Corp. New 0.10% +0.10
OKLO Oklo Inc. New 0.09% +0.09
ATO Atmos Energy Corp. Add +17.0% 1.62% +0.07
CDLR Cadeler A/S-ADR Add +61.0% 0.22% +0.06
VRN Veren Inc. Add +79.2% 0.75% +0.04
GNRC Generac Holdings Inc. Add +17.0% 0.47% +0.03
TXNM TXNM Energy Inc. Add +13.8% 0.95% +0.01
PCG P G & E Corp. Add +18.0% 0.77% +0.00
SR Spire Inc. Add +17.0% 0.60% −0.02
HBM Hudbay Minerals Inc. Add +25.9% 1.05% −0.04
OPAL Opal Fuels Inc. Class A Add +17.1% 0.17% −0.05
CLNE Clean Energy Fuels Corp. Add +4.9% 0.54% −0.05
SLDP Solid Power Inc. Add +27.5% 0.22% −0.06

Options Activity Q2 2024 → Q3 2024
SPY SS SPDR S&P 500 ETF Trust-US put Sold out 525,000 $285.7Mbefore exit
XLU St Sr Utl SL SE SPDR ETF-Usd put Add +200.0% 900,000 $72.7M
XOP SS SPDR S&P Og Exp & Prod put New 500,000 $65.8M
POR Portland General Electric Co. put Sold out 1,500,000 $64.9Mbefore exit
PSX Phillips 66 put Sold out 446,300 $63.0Mbefore exit
CVX Chevron Corp. put Sold out 350,000 $54.7Mbefore exit
TRGP Targa Resources Corp. put Add +17.0% 350,900 $51.9M
EOG EOG Resources Inc. put Sold out 400,000 $50.3Mbefore exit
HAL Halliburton Co. put Add +112.5% 1,274,900 $37.0M
AVA Avista Corp. put Sold out 1,000,000 $34.6Mbefore exit
APD Air Products & Chemicals Inc. call Sold out 110,000 $28.4Mbefore exit
SAIA Saia Inc. put Sold out 51,000 $24.2Mbefore exit
NFG National Fuel Gas Co. call Add +17.0% 350,900 $21.3M
KRE SS SPDR S&P Regional Bank put New 365,500 $20.7M
TXNM TXNM Energy Inc. call Sold out 500,000 $18.5Mbefore exit
CE Celanese Corp. put New 100,000 $13.6M
FSLR First Solar Inc. call Sold out 56,200 $12.7Mbefore exit
ENPH Enphase Energy Inc. put Sold out 122,100 $12.2Mbefore exit
TECK Teck Resources Ltd.-CLS B call Reduce -47.9% 208,600 $10.9M
XPO Xpo Inc. put Sold out 100,000 $10.6Mbefore exit
DOW Dow Inc. put Sold out 200,000 $10.6Mbefore exit
TALO Talos Energy Inc. put Reduce -55.4% 935,900 $9.7M
UGI Ugi Corp. call Add +17.0% 350,900 $8.8M
ETN Eaton Corp. PLC put Sold out 25,000 $7.8Mbefore exit
CTRA Coterra Energy Inc. put New 313,100 $7.5M
PBF PBF Energy Inc. Class A call New 188,600 $5.8M
NEXT Nextdecade Corp. call Reduce -58.8% 599,700 $2.8M

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 104$3.0BNFG, DVN, NI, OVV, WMB
Q1 2026 82$2.0BNFG, CTRA, CVE, VST, OVV
Q4 2025 89$2.0BNFG, BP, CVE, OVV, CRH
Q3 2025 92$1.9BBP, AWK, SHEL, AES, CVE
Q2 2025 83$1.5BBP, SHEL, EVRG, AEP, ETR
Q1 2025 67$1.4BAEP, BP, SHEL, OVV, ETR
Q4 2024 88$1.6BXEL, ED, TRP, BP, PR
Q3 2024 78$1.5BTECK, PR, EQT, FANG, BKR
Q2 2024 76$1.1BHES, TRP, CVE, SHEL, SU
Q1 2024 78$1.2BCVE, TECK, SU, PXD, MPC