Yaupon Capital Management LP
In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Yaupon Capital Management LP reported 88 stock positions worth $1.6 billion. Its top holding was Xcel Energy (XEL) at 4.3% of the portfolio, followed by Consolidated Edison (ED, 3.5%) and TC Energy (TRP, 3.1%). Compared with Q3 2024, it opened 30 new positions, sold out of 21, added to 23 and reduced 33. The biggest buy was a new position in Xcel Energy (XEL) and the biggest sale Teck Resources Ltd.-CLS B (TECK, shares −54%).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001755028
- Portfolio Value
- $1.6B (Q4 2024)
- SEC Filing
- 0001085146-25-001450 ↗ filed Feb 14, 2025
Holdings Value
Holdings 88 stocks · $1.6B
| XEL Xcel Energy Inc. | 4.27% | 1,000,000 | $67.5M | New |
| ED Consolidated Edison Inc. | 3.53% | 625,000 | $55.8M | Add +457.0% |
| TRP TC Energy Corp. | 3.10% | 1,054,695 | $49.1M | Add +37.1% |
| BP BP PLC-Spons ADR | 2.99% | 1,600,911 | $47.3M | New |
| PR Permian Resources Corp. Class A | 2.86% | 3,140,087 | $45.2M | Reduce -16.2% |
| SU Suncor Energy Inc. | 2.85% | 1,260,961 | $45.0M | Add +61.8% |
| SHEL Shell PLC-ADR | 2.72% | 686,365 | $43.0M | Reduce -1.1% |
| CRH CRH PLC | 2.72% | 464,115 | $42.9M | New |
| OVV Ovintiv Inc. | 2.39% | 934,442 | $37.8M | Add +246.2% |
| FTI Technipfmc PLC | 2.31% | 1,263,549 | $36.6M | New |
| MTDR Matador Resources Co. | 2.30% | 645,243 | $36.3M | Reduce -13.3% |
| HES Hess Corp. | 2.27% | 270,228 | $35.9M | Reduce -8.3% |
| NFG National Fuel Gas Co. | 2.18% | 568,624 | $34.5M | Add +46.6% |
| EVRG Evergy Inc. | 2.14% | 548,578 | $33.8M | Add +1.6% |
| FSLR First Solar Inc. | 2.12% | 190,534 | $33.6M | Add +123.9% |
| CTRA Coterra Energy Inc. | 2.10% | 1,302,139 | $33.3M | Add +71.4% |
| PCG P G & E Corp. | 2.09% | 1,635,483 | $33.0M | Add +180.9% |
| TXNM TXNM Energy Inc. | 1.99% | 639,345 | $31.4M | Add +97.6% |
| MPC Marathon Petroleum Corp. | 1.99% | 225,211 | $31.4M | New |
| SRE Sempra | 1.77% | 318,146 | $27.9M | Add +78.0% |
| NSC Norfolk Southern Corp. | 1.77% | 118,902 | $27.9M | Add +2.6% |
| NI Nisource Inc. | 1.76% | 755,206 | $27.8M | Reduce -8.2% |
| FLR Fluor Corp. | 1.67% | 534,328 | $26.4M | New |
| PPL PPL Corp. | 1.61% | 783,116 | $25.4M | Reduce -26.9% |
| PNW Pinnacle West Capital | 1.56% | 290,354 | $24.6M | Add +16.0% |
| DUK Duke Energy Corp. | 1.55% | 227,935 | $24.6M | Add +143.5% |
| PEG Public Service Enterprise GP | 1.52% | 285,363 | $24.1M | Add +111.8% |
| OKE Oneok Inc. | 1.43% | 224,470 | $22.5M | Reduce -54.7% |
| TECK Teck Resources Ltd.-CLS B | 1.41% | 551,281 | $22.3M | Reduce -53.9% |
| SDRL Seadrill Limited | 1.33% | 541,250 | $21.1M | Add +80.2% |
| AEE Ameren Corporation | 1.32% | 233,700 | $20.8M | Reduce -16.2% |
| DTM DT Midstream Inc. | 1.27% | 202,376 | $20.1M | New |
| BKR Baker Hughes Co. | 1.21% | 465,309 | $19.1M | Reduce -64.4% |
| CNM Core & Main Inc. Class A | 1.18% | 367,798 | $18.7M | New |
| EQT Eqt Corp. | 1.17% | 399,934 | $18.4M | Reduce -69.5% |
| ATO Atmos Energy Corp. | 1.15% | 130,595 | $18.2M | Reduce -25.2% |
| NEXT Nextdecade Corp. | 1.14% | 2,340,311 | $18.0M | Reduce -43.3% |
| D Dominion Energy Inc. | 1.05% | 307,757 | $16.6M | Reduce -25.1% |
| LB Landbridge Co. LLC-A | 1.02% | 249,875 | $16.1M | Reduce -7.5% |
| GEV GE Vernova Inc. | 1.01% | 48,390 | $15.9M | Reduce -32.0% |
| OR Osisko Gold Royalties Ltd. | 0.92% | 805,555 | $14.6M | Add +1.6% |
| BWXT BWX Technologies Inc. | 0.91% | 129,487 | $14.4M | New |
| FE Firstenergy Corp. | 0.85% | 339,117 | $13.5M | Reduce -20.2% |
| CRGY Crescent Energy Inc. Class A | 0.83% | 900,000 | $13.1M | New |
| DTE DTE Energy Company | 0.82% | 106,875 | $12.9M | Reduce -61.8% |
| TS Tenaris SA-ADR | 0.80% | 333,259 | $12.6M | New |
| WAB Wabtec Corp. | 0.77% | 64,130 | $12.2M | Reduce -31.5% |
| HBM Hudbay Minerals Inc. | 0.75% | 1,458,356 | $11.8M | Reduce -14.7% |
| FANG Diamondback Energy Inc. | 0.74% | 71,888 | $11.8M | Reduce -73.9% |
| VST Vistra Corp. | 0.72% | 82,137 | $11.3M | New |
| CIVI Civitas Resources Inc. | 0.70% | 239,669 | $11.0M | Add +58.9% |
| GPOR Gulfport Energy Corp. | 0.67% | 57,745 | $10.6M | New |
| ASTL Algoma Steel Group Inc. | 0.67% | 1,084,601 | $10.6M | Add +21.1% |
| HESM Hess Midstream LP Class A | 0.66% | 282,204 | $10.5M | Reduce -77.4% |
| CENX Century Aluminum Company | 0.65% | 567,837 | $10.3M | Add +76.3% |
| MTZ Mastec Inc. | 0.64% | 74,294 | $10.1M | New |
| TAC Transalta Corp. | 0.63% | 705,848 | $10.0M | Reduce -73.7% |
| BKV BKV Corporation | 0.63% | 418,026 | $9.9M | Reduce -54.8% |
| PBA Pembina Pipeline Corp. | 0.57% | 244,330 | $9.0M | New |
| SHW The Sherwin-Williams Co. | 0.56% | 26,057 | $8.9M | Reduce -32.0% |
| NFE New Fortress Energy Inc. | 0.55% | 569,914 | $8.6M | New |
| GFL GFL Environmental Inc.-Sub VT | 0.49% | 175,423 | $7.8M | Reduce -76.1% |
| SOBO South Bow Corp. | 0.49% | 328,822 | $7.8M | Add +113.7% |
| PARR Par Pacific Holdings Inc. | 0.44% | 424,658 | $7.0M | Reduce -29.8% |
| TBN Tamboran Resources Corp. | 0.42% | 315,544 | $6.6M | Add +126.4% |
| AUR Aurora Innovation Inc. | 0.41% | 1,035,608 | $6.5M | New |
| ALTM Arcadium Lithium PLC | 0.41% | 1,258,947 | $6.5M | Reduce -50.8% |
| WCC Wesco International Inc. | 0.39% | 34,222 | $6.2M | New |
| CLNE Clean Energy Fuels Corp. | 0.39% | 2,459,815 | $6.2M | Reduce -4.4% |
| GTES Gates Industrial Corp. UK Ltd. | 0.39% | 296,605 | $6.1M | New |
| FLS Flowserve Corp. | 0.39% | 105,924 | $6.1M | Add +121.4% |
| APLD Applied Digital Corp. | 0.27% | 562,906 | $4.3M | New |
| HNRG Hallador Energy Co. | 0.26% | 352,356 | $4.0M | New |
| EU Encore Energy Corp. | 0.22% | 1,001,335 | $3.4M | New |
| ETN Eaton Corp. PLC | 0.21% | 9,905 | $3.3M | New |
| RIOT Riot Platforms Inc. | 0.21% | 319,681 | $3.3M | New |
| SARO Standardaero Inc. | 0.20% | 128,482 | $3.2M | New |
| AIOT Powerfleet Inc. | 0.20% | 471,936 | $3.1M | New |
| BTU Peabody Energy Corp. | 0.20% | 150,000 | $3.1M | Reduce -53.1% |
| MIR Mirion Technologies Inc. | 0.20% | 178,554 | $3.1M | Reduce -16.6% |
| PPTA Perpetua Resources Corp. | 0.17% | 250,000 | $2.7M | New |
| DEC Diversified Energy Co. PLC | 0.17% | 156,374 | $2.6M | New |
| CDLR Cadeler A/S-ADR | 0.16% | 114,641 | $2.6M | No change |
| PRIM Primoris Services Corp. | 0.15% | 31,679 | $2.4M | Reduce -95.5% |
| OPAL Opal Fuels Inc. Class A | 0.15% | 700,054 | $2.4M | No change |
| WOLF Wolfspeed Inc. | 0.12% | 288,894 | $1.9M | New |
| SLDP Solid Power Inc. | 0.05% | 440,049 | $832K | Reduce -81.5% |
| BE Bloom Energy Corp. Class A | 0.01% | 9,410 | $209K | New |
Options reported separately and not counted above: CEG puts ($190.2M), HYG puts ($102.2M), SPY puts ($74.7M), PCG puts ($60.5M), ETN puts ($49.8M), XEL calls ($47.3M), EMR puts ($37.2M), CAT puts ($36.3M), NEE puts ($35.8M), HAL puts ($27.2M), PSX puts ($26.8M), XOM puts ($21.5M), and 10 more.
Portfolio Sells Q3 2024 → Q4 2024
| TECK Teck Resources Ltd.-CLS B | Reduce -53.9% | 1.41% | −2.78 |
| PRIM Primoris Services Corp. | Reduce -95.5% | 0.15% | −2.57 |
| FANG Diamondback Energy Inc. | Reduce -73.9% | 0.74% | −2.43 |
| HESM Hess Midstream LP Class A | Reduce -77.4% | 0.66% | −2.30 |
| EQT Eqt Corp. | Reduce -69.5% | 1.17% | −2.05 |
| BKR Baker Hughes Co. | Reduce -64.4% | 1.21% | −1.96 |
| UNP Union Pacific Corp. | Sold out | 0.00% | −1.94 |
| CVE Cenovus Energy Inc. | Sold out | 0.00% | −1.86 |
| OKE Oneok Inc. | Reduce -54.7% | 1.43% | −1.60 |
| DTE DTE Energy Company | Reduce -61.8% | 0.82% | −1.59 |
| CMS CMS Energy Corp. | Sold out | 0.00% | −1.59 |
| GFL GFL Environmental Inc.-Sub VT | Reduce -76.1% | 0.49% | −1.47 |
| TAC Transalta Corp. | Reduce -73.7% | 0.63% | −1.24 |
| VNOM Viper Energy Inc. | Sold out | 0.00% | −1.21 |
| CF CF Industries Holdings Inc. | Sold out | 0.00% | −1.17 |
| LNG Cheniere Energy Inc. | Sold out | 0.00% | −0.96 |
| AQN Algonquin Power & Utilities | Sold out | 0.00% | −0.80 |
| PPL PPL Corp. | Reduce -26.9% | 1.61% | −0.77 |
| VRN Veren Inc. | Sold out | 0.00% | −0.75 |
| CWEN Clearway Energy Inc. Class C | Sold out | 0.00% | −0.67 |
| PAGP Plains GP Holdings LP | Sold out | 0.00% | −0.66 |
| SR Spire Inc. | Sold out | 0.00% | −0.60 |
| SHLS Shoals Technologies Group -A | Sold out | 0.00% | −0.58 |
| PR Permian Resources Corp. Class A | Reduce -16.2% | 2.86% | −0.56 |
| D Dominion Energy Inc. | Reduce -25.1% | 1.05% | −0.54 |
| BKV BKV Corporation | Reduce -54.8% | 0.63% | −0.51 |
| GNRC Generac Holdings Inc. | Sold out | 0.00% | −0.47 |
| ATO Atmos Energy Corp. | Reduce -25.2% | 1.15% | −0.47 |
| KNTK Kinetik Holdings Inc. | Sold out | 0.00% | −0.46 |
| SHW The Sherwin-Williams Co. | Reduce -32.0% | 0.56% | −0.42 |
| FE Firstenergy Corp. | Reduce -20.2% | 0.85% | −0.41 |
| HES Hess Corp. | Reduce -8.3% | 2.27% | −0.41 |
| WAB Wabtec Corp. | Reduce -31.5% | 0.77% | −0.37 |
| BTU Peabody Energy Corp. | Reduce -53.1% | 0.20% | −0.37 |
| SHEL Shell PLC-ADR | Reduce -1.1% | 2.72% | −0.35 |
| PBF PBF Energy Inc. Class A | Sold out | 0.00% | −0.33 |
| XPRO Expro Group Holdings NV | Sold out | 0.00% | −0.33 |
| AEE Ameren Corporation | Reduce -16.2% | 1.32% | −0.32 |
| HBM Hudbay Minerals Inc. | Reduce -14.7% | 0.75% | −0.31 |
| PARR Par Pacific Holdings Inc. | Reduce -29.8% | 0.44% | −0.27 |
| GEV GE Vernova Inc. | Reduce -32.0% | 1.01% | −0.21 |
| MOS The Mosaic Co. | Sold out | 0.00% | −0.17 |
| MTDR Matador Resources Co. | Reduce -13.3% | 2.30% | −0.17 |
| NEXT Nextdecade Corp. | Reduce -43.3% | 1.14% | −0.16 |
| SLDP Solid Power Inc. | Reduce -81.5% | 0.05% | −0.16 |
| NI Nisource Inc. | Reduce -8.2% | 1.76% | −0.16 |
| CLNE Clean Energy Fuels Corp. | Reduce -4.4% | 0.39% | −0.15 |
| KGS Kodiak Gas Services Inc. | Sold out | 0.00% | −0.14 |
| ALE Allete Inc. | Sold out | 0.00% | −0.14 |
| BTE Baytex Energy Corp. | Sold out | 0.00% | −0.10 |
Portfolio Buys Q3 2024 → Q4 2024
| XEL Xcel Energy Inc. | New | 4.27% | +4.27 |
| BP BP PLC-Spons ADR | New | 2.99% | +2.99 |
| ED Consolidated Edison Inc. | Add +457.0% | 3.53% | +2.74 |
| CRH CRH PLC | New | 2.72% | +2.72 |
| FTI Technipfmc PLC | New | 2.31% | +2.31 |
| MPC Marathon Petroleum Corp. | New | 1.99% | +1.99 |
| OVV Ovintiv Inc. | Add +246.2% | 2.39% | +1.70 |
| FLR Fluor Corp. | New | 1.67% | +1.67 |
| PCG P G & E Corp. | Add +180.9% | 2.09% | +1.32 |
| DTM DT Midstream Inc. | New | 1.27% | +1.27 |
| CNM Core & Main Inc. Class A | New | 1.18% | +1.18 |
| TXNM TXNM Energy Inc. | Add +97.6% | 1.99% | +1.04 |
| SU Suncor Energy Inc. | Add +61.8% | 2.85% | +0.92 |
| BWXT BWX Technologies Inc. | New | 0.91% | +0.91 |
| CTRA Coterra Energy Inc. | Add +71.4% | 2.10% | +0.88 |
| CRGY Crescent Energy Inc. Class A | New | 0.83% | +0.83 |
| DUK Duke Energy Corp. | Add +143.5% | 1.55% | +0.83 |
| TS Tenaris SA-ADR | New | 0.80% | +0.80 |
| SRE Sempra | Add +78.0% | 1.77% | +0.76 |
| PEG Public Service Enterprise GP | Add +111.8% | 1.52% | +0.72 |
| VST Vistra Corp. | New | 0.72% | +0.72 |
| FSLR First Solar Inc. | Add +123.9% | 2.12% | +0.70 |
| GPOR Gulfport Energy Corp. | New | 0.67% | +0.67 |
| TRP TC Energy Corp. | Add +37.1% | 3.10% | +0.65 |
| MTZ Mastec Inc. | New | 0.64% | +0.64 |
| NFG National Fuel Gas Co. | Add +46.6% | 2.18% | +0.61 |
| PBA Pembina Pipeline Corp. | New | 0.57% | +0.57 |
| NFE New Fortress Energy Inc. | New | 0.55% | +0.55 |
| SDRL Seadrill Limited | Add +80.2% | 1.33% | +0.53 |
| AUR Aurora Innovation Inc. | New | 0.41% | +0.41 |
| WCC Wesco International Inc. | New | 0.39% | +0.39 |
| GTES Gates Industrial Corp. UK Ltd. | New | 0.39% | +0.39 |
| CENX Century Aluminum Company | Add +76.3% | 0.65% | +0.30 |
| APLD Applied Digital Corp. | New | 0.27% | +0.27 |
| HNRG Hallador Energy Co. | New | 0.26% | +0.26 |
| SOBO South Bow Corp. | Add +113.7% | 0.49% | +0.25 |
| TBN Tamboran Resources Corp. | Add +126.4% | 0.42% | +0.23 |
| FLS Flowserve Corp. | Add +121.4% | 0.39% | +0.22 |
| EU Encore Energy Corp. | New | 0.22% | +0.22 |
| ETN Eaton Corp. PLC | New | 0.21% | +0.21 |
| RIOT Riot Platforms Inc. | New | 0.21% | +0.21 |
| SARO Standardaero Inc. | New | 0.20% | +0.20 |
| AIOT Powerfleet Inc. | New | 0.20% | +0.20 |
| CIVI Civitas Resources Inc. | Add +58.9% | 0.70% | +0.18 |
| PPTA Perpetua Resources Corp. | New | 0.17% | +0.17 |
| DEC Diversified Energy Co. PLC | New | 0.17% | +0.17 |
| WOLF Wolfspeed Inc. | New | 0.12% | +0.12 |
| PNW Pinnacle West Capital | Add +16.0% | 1.56% | +0.07 |
| ASTL Algoma Steel Group Inc. | Add +21.1% | 0.67% | +0.06 |
| BE Bloom Energy Corp. Class A | New | 0.01% | +0.01 |
Options Activity Q3 2024 → Q4 2024
| CEG Constellation Energy | put | New | 850,000 | $190.2M |
| HYG Ishr Ibx Usd Hiyld CB ETF-Ui | put | New | 1,300,000 | $102.2M |
| SPY SS SPDR S&P 500 ETF Trust-US | put | New | 127,500 | $74.7M |
| XLU St Sr Utl SL SE SPDR ETF-Usd | put | Sold out | 900,000 | $72.7Mbefore exit |
| XOP SS SPDR S&P Og Exp & Prod | put | Sold out | 500,000 | $65.8Mbefore exit |
| PCG P G & E Corp. | put | New | 3,000,000 | $60.5M |
| TRGP Targa Resources Corp. | put | Sold out | 350,900 | $51.9Mbefore exit |
| ETN Eaton Corp. PLC | put | New | 150,100 | $49.8M |
| XEL Xcel Energy Inc. | call | New | 700,000 | $47.3M |
| EMR Emerson Electric Co. | put | New | 300,000 | $37.2M |
| CAT Caterpillar Inc. | put | New | 100,000 | $36.3M |
| NEE Nextera Energy Inc. | put | New | 500,000 | $35.8M |
| HAL Halliburton Co. | put | Reduce -21.6% | 1,000,000 | $27.2M |
| PSX Phillips 66 | put | New | 234,800 | $26.8M |
| XOM Exxon Mobil Corp. | put | New | 200,000 | $21.5M |
| KRE SS SPDR S&P Regional Bank | put | Sold out | 365,500 | $20.7Mbefore exit |
| IDA Idacorp Inc. | put | Sold out | 200,000 | $20.6Mbefore exit |
| FCX Freeport-McMoran Inc. | put | New | 500,000 | $19.0M |
| NFG National Fuel Gas Co. | call | Reduce -14.5% | 300,000 | $18.2M |
| BP BP PLC-Spons ADR | call | New | 500,000 | $14.8M |
| CNX CNX Resources Corp. | put | New | 400,000 | $14.7M |
| CE Celanese Corp. | put | Sold out | 100,000 | $13.6Mbefore exit |
| XIFR XPLR Infrastructure LP | call | New | 750,000 | $13.3M |
| DAR Darling Ingredients Inc. | call | New | 355,700 | $12.0M |
| NEXT Nextdecade Corp. | call | Add +150.1% | 1,500,000 | $11.6M |
| VRT Vertiv Holdings Co. Class A | put | New | 100,000 | $11.4M |
| TECK Teck Resources Ltd.-CLS B | call | Add +24.9% | 260,600 | $10.6M |
| TALO Talos Energy Inc. | put | Sold out | 935,900 | $9.7Mbefore exit |
| UGI Ugi Corp. | call | Sold out | 350,900 | $8.8Mbefore exit |
| CTRA Coterra Energy Inc. | put | Sold out | 313,100 | $7.5Mbefore exit |
| NEXT Nextdecade Corp. | put | New | 800,000 | $6.2M |
| PBF PBF Energy Inc. Class A | call | Sold out | 188,600 | $5.8Mbefore 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 | 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 |