Zimmer Partners, LP
In its 13F for Q1 2026 (holdings as of March 31, 2026, filed May 15, 2026), Zimmer Partners, LP reported 117 stock positions worth $3.9 billion. Its top holding was Agree Realty (ADC) at 6.3% of the portfolio, followed by Nisource (NI, 6.1%) and Eversource Energy (ES, 5.9%). Compared with Q4 2025, it opened 41 new positions, sold out of 43, added to 33 and reduced 39. The biggest buy was a new position in Agree Realty (ADC) and the biggest sale an exit from TXNM Energy Inc. (txnm 5.75 06/01/54).
- Most Recent 13F
- Q2 2026
- Location
- NEW YORK, NY
- CIK
- 0001565854
- Portfolio Value
- $3.9B (Q1 2026)
- SEC Filing
- 0001565854-26-000002 ↗ filed May 15, 2026
Holdings Value
Holdings 117 stocks · $3.9B
| ADC Agree Realty Corp. | 6.34% | 3,296,414 | $248.5M | New |
| NI Nisource Inc. | 6.13% | 5,142,959 | $240.0M | Add +32.9% |
| ES Eversource Energy | 5.91% | 3,342,607 | $231.6M | Reduce -13.0% |
| WELL Welltower Inc. | 5.65% | 1,118,925 | $221.2M | Add +0.2% |
| XEL Xcel Energy Inc. | 5.33% | 2,629,300 | $208.9M | Reduce -4.0% |
| TRGP Targa Resources Corp. | 5.09% | 794,933 | $199.3M | Add +1.7% |
| KMI Kinder Morgan Inc. | 4.91% | 5,735,100 | $192.3M | Add +42.8% |
| KGS Kodiak Gas Services Inc. | 3.55% | 2,381,916 | $138.9M | Reduce -44.2% |
| PCG P G & E Corp. | 2.88% | 6,420,105 | $112.8M | Reduce -11.9% |
| ETR Entergy Corp. | 2.66% | 928,573 | $104.3M | Reduce -44.1% |
| IDA Idacorp Inc. | 2.64% | 723,692 | $103.5M | Reduce -9.6% |
| WEC WEC Energy Group Inc. | 2.46% | 833,814 | $96.5M | New |
| TXNM TXNM Energy Inc. | 2.29% | 1,532,247 | $89.6M | Reduce -17.7% |
| SRE Sempra | 1.74% | 699,600 | $68.0M | Reduce -50.4% |
| HTO H2O America | 1.50% | 1,001,000 | $58.7M | Add +2184.6% |
| DUK Duke Energy Corp. | 1.46% | 437,929 | $57.3M | Reduce -31.9% |
| FPS Forgent Power Solutions Class A | 1.46% | 1,950,520 | $57.1M | New |
| BKV BKV Corporation | 1.42% | 1,946,314 | $55.5M | Add +290.0% |
| KTOS Kratos Defense & Security | 1.41% | 783,148 | $55.2M | Add +770.2% |
| CTRE Caretrust REIT Inc. | 1.39% | 1,486,155 | $54.5M | Reduce -15.7% |
| SWX Southwest Gas Holdings Inc. | 1.35% | 606,922 | $52.7M | Add +228.4% |
| BKH Black Hills Corp. | 1.31% | 741,034 | $51.4M | Add +168.5% |
| PNW Pinnacle West Capital | 1.29% | 500,055 | $50.4M | Add +266.5% |
| CRH CRH PLC | 1.07% | 400,000 | $42.0M | Add +400.0% |
| GE General Electric filed as GE AEROSPACE | 0.94% | 130,000 | $36.9M | Add +550.0% |
| VNOM Viper Energy Inc. Class A | 0.92% | 770,000 | $36.2M | Reduce -55.8% |
| LOAR Loar Holdings Inc. | 0.84% | 572,500 | $32.8M | Add +108.2% |
| D Dominion Energy Inc. | 0.79% | 500,000 | $30.9M | New |
| QXO Qxo Inc. | 0.78% | 1,575,000 | $30.6M | Add +162.5% |
| VSEC Vse Corp. | 0.76% | 160,500 | $29.6M | New |
| RYAN Ryan Specialty Holdings Inc. | 0.75% | 875,000 | $29.5M | Reduce -12.5% |
| APH Amphenol Corp. Class A | 0.75% | 231,500 | $29.3M | New |
| TDG Transdigm Group Inc. | 0.74% | 25,000 | $29.0M | Reduce -14.5% |
| JRVR James River Group Holdings I | 0.74% | 4,591,638 | $28.9M | No change |
| NVT Nvent Electric PLC | 0.71% | 235,500 | $27.9M | Reduce -37.2% |
| BLDR Builders Firstsource Inc. | 0.70% | 332,500 | $27.4M | Add +92.8% |
| WM Waste Management Inc. | 0.67% | 115,000 | $26.4M | Add +4.5% |
| EME Emcor Group Inc. | 0.66% | 35,000 | $25.8M | Add +112.1% |
| ALH Alliance Laundry Holdings Inc. | 0.61% | 1,145,003 | $23.7M | Add +20.5% |
| WHR Whirlpool Corp. | 0.59% | 430,500 | $23.2M | New |
| PH Parker Hannifin Corp. | 0.57% | 25,000 | $22.4M | Reduce -16.7% |
| YORW York Water Co. filed as YORK WTR CO | 0.57% | 732,677 | $22.3M | Reduce -1.2% |
| SARO Standardaero Inc. | 0.56% | 850,000 | $22.0M | Add +135.5% |
| CNM Core & Main Inc. Class A | 0.54% | 430,000 | $21.2M | Add +115.0% |
| CWST Casella Waste Systems Inc. Class A | 0.52% | 257,694 | $20.4M | Add +1596.0% |
| CNP Centerpoint Energy Inc. | 0.49% | 443,500 | $19.1M | Reduce -55.9% |
| SMA Smartstop Self Storage REIT | 0.46% | 600,000 | $18.2M | Reduce -5.0% |
| USAR USA Rare Earth Inc. | 0.45% | 1,151,640 | $17.4M | New |
| PNR Pentair PLC | 0.44% | 200,000 | $17.4M | New |
| AERO Grupo Aeromexico Sab DE CV | 0.44% | 1,223,565 | $17.1M | Add +15.4% |
| AZO AutoZone Inc. | 0.43% | 5,000 | $16.9M | Reduce -64.3% |
| SM SM Energy Co. | 0.42% | 532,500 | $16.6M | New |
| CPAY Corpay Inc. | 0.42% | 56,000 | $16.3M | Add +7.7% |
| LNG Cheniere Energy Inc. | 0.40% | 55,000 | $15.6M | Reduce -82.2% |
| STC Stewart Information Services | 0.39% | 245,942 | $15.1M | Reduce -30.6% |
| CR Crane Co. | 0.37% | 85,000 | $14.5M | New |
| POOL Pool Corp. | 0.36% | 70,000 | $14.2M | New |
| FCX Freeport-McMoran Inc. | 0.36% | 237,500 | $14.0M | New |
| JAN Janus Living Inc. Class-A-1 | 0.35% | 575,000 | $13.6M | New |
| PRMB Primo Brands Corp. | 0.34% | 717,000 | $13.5M | Reduce -36.4% |
| CMI Cummins Inc. | 0.34% | 25,000 | $13.5M | New |
| GPC Genuine Parts Co. | 0.34% | 125,000 | $13.2M | Add +66.7% |
| CARR Carrier Global Corp. | 0.33% | 230,000 | $13.0M | Reduce -40.6% |
| HUT Hut 8 Corp. | 0.33% | 275,000 | $12.9M | Add +279.3% |
| CAT Caterpillar Inc. | 0.30% | 16,750 | $11.9M | Add +26.9% |
| HESM Hess Midstream LP Class A | 0.30% | 299,800 | $11.7M | Reduce -14.8% |
| VRTS Virtus Investment Partners | 0.29% | 84,121 | $11.3M | Add +236.5% |
| GNRC Generac Holdings Inc. | 0.27% | 54,600 | $10.7M | New |
| ITT Itt Inc. | 0.24% | 50,000 | $9.5M | Reduce -64.9% |
| MSEX Middlesex Water Co. | 0.24% | 176,903 | $9.2M | Reduce -3.7% |
| AR Antero Resources Corp. | 0.23% | 212,500 | $9.0M | Reduce -25.2% |
| WBI Waterbridge Infrastruc Class A | 0.22% | 320,000 | $8.6M | New |
| VVX V2X Inc. | 0.22% | 125,000 | $8.6M | Add +38.8% |
| KYN Kayne Anderson Energy Infra | 0.21% | 587,500 | $8.4M | Add +5.9% |
| AIV Apartment Invt & Mgmt Co. Class A | 0.21% | 2,027,500 | $8.3M | New |
| PWR Quanta Services Inc. | 0.21% | 15,000 | $8.2M | Reduce -82.8% |
| EQPT Equipmentshare.com Inc. Class A | 0.21% | 401,500 | $8.2M | New |
| ROL Rollins Inc. | 0.20% | 150,000 | $8.0M | New |
| MSFT Microsoft Corp. | 0.20% | 21,500 | $8.0M | Add +7.5% |
| EMA Emera Inc. | 0.20% | 150,436 | $7.8M | New |
| INVX Innovex International Inc. | 0.19% | 297,425 | $7.3M | New |
| ALM Almonty Industries Inc. | 0.18% | 475,000 | $6.9M | New |
| FVR Frontview REIT Inc. | 0.17% | 424,233 | $6.6M | Reduce -53.9% |
| GEV GE Vernova Inc. | 0.17% | 7,500 | $6.5M | New |
| KNTK Kinetik Holdings Inc. | 0.16% | 133,150 | $6.4M | Reduce -95.1% |
| NTST Netstreit Corp. | 0.15% | 315,500 | $5.9M | Add +124.6% |
| ELDN Eledon Pharmaceuticals Inc. | 0.15% | 1,875,000 | $5.8M | Reduce -21.4% |
| SYY Sysco Corp. | 0.15% | 80,000 | $5.7M | New |
| AVAH Aveanna Healthcare Holdings | 0.13% | 762,150 | $4.9M | Add +0.6% |
| BOW Bowhead Specialty Holdings I | 0.12% | 209,800 | $4.7M | Reduce -2.4% |
| TBN Tamboran Resources Corp. | 0.12% | 91,480 | $4.6M | Reduce -36.4% |
| PACS Pacs Group Inc. | 0.11% | 140,000 | $4.5M | Reduce -53.7% |
| FCPT Four Corners Property Trust | 0.11% | 185,092 | $4.4M | No change |
| TTAM Titan America SA | 0.10% | 266,111 | $4.0M | Reduce -73.1% |
| AAON Aaon Inc. | 0.10% | 45,000 | $3.7M | New |
| KRMN Karman Holdings Inc. | 0.08% | 40,000 | $3.2M | New |
| LMRI Lumexa Imaging Holdings Inc. | 0.07% | 300,000 | $2.6M | Reduce -50.8% |
| YSS York Space Systems Inc. | 0.07% | 115,000 | $2.5M | New |
| CUBE Cubesmart | 0.06% | 67,500 | $2.5M | No change |
| DOC Healthpeak Properties Inc. | 0.06% | 135,300 | $2.2M | New |
Options reported separately and not counted above: HE puts ($22.3M), ES calls ($17.3M), HTO puts ($14.7M), PCG calls ($8.8M), BKH calls ($8.7M).
Other holdings (3): bonds, preferreds, convertibles and warrants · $159.8M (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | 95,022,000 | $127.1M | New |
| NEXTERA ENERGY INC (NEE 7.375 02/15/29) | UNIT 02/15/2029 | 609,324 | $30.7M | New |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | 50,000 | $2.1M | New |
Total filed on the 13F, all lines: $4.1B.
Portfolio Sells Q4 2025 → Q1 2026
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | Sold out | 0.00% | −3.36 |
| ADT Adt Inc. | Sold out | 0.00% | −2.63 |
| KNTK Kinetik Holdings Inc. | Reduce -95.1% | 0.16% | −2.43 |
| AEE Ameren Corporation | Sold out | 0.00% | −1.88 |
| KD Kyndryl Holdings Inc. | Sold out | 0.00% | −1.56 |
| SRE Sempra | Reduce -50.4% | 1.74% | −1.54 |
| ETR Entergy Corp. | Reduce -44.1% | 2.66% | −1.38 |
| CMS CMS Energy Corp. | Sold out | 0.00% | −1.37 |
| SFD Smithfield Foods Inc. | Sold out | 0.00% | −1.23 |
| LNG Cheniere Energy Inc. | Reduce -82.2% | 0.40% | −1.19 |
| ETN Eaton Corp. PLC | Sold out | 0.00% | −1.14 |
| ULS Ul Solutions Inc. Class A | Sold out | 0.00% | −0.92 |
| ES Eversource Energy | Reduce -13.0% | 5.91% | −0.91 |
| VNOM Viper Energy Inc. Class A | Reduce -55.8% | 0.92% | −0.85 |
| AZO AutoZone Inc. | Reduce -64.3% | 0.43% | −0.82 |
| PWR Quanta Services Inc. | Reduce -82.8% | 0.21% | −0.76 |
| KGS Kodiak Gas Services Inc. | Reduce -44.2% | 3.55% | −0.66 |
| APD Air Products & Chemicals Inc. | Sold out | 0.00% | −0.65 |
| RYAN Ryan Specialty Holdings Inc. | Reduce -12.5% | 0.75% | −0.61 |
| TXNM TXNM Energy Inc. | Reduce -17.7% | 2.29% | −0.60 |
| VRT Vertiv Holdings Co. Class A | Sold out | 0.00% | −0.58 |
| CNP Centerpoint Energy Inc. | Reduce -55.9% | 0.49% | −0.53 |
| DUK Duke Energy Corp. | Reduce -31.9% | 1.46% | −0.52 |
| AMRZ Amrize Ltd. | Sold out | 0.00% | −0.52 |
| RIG Transocean Ltd. | Sold out | 0.00% | −0.49 |
| ITT Itt Inc. | Reduce -64.9% | 0.24% | −0.41 |
| SNCY Sun Country Airlines Holding | Sold out | 0.00% | −0.40 |
| AIR Aar Corp. | Sold out | 0.00% | −0.37 |
| ROAD Construction Partners Inc. Class A | Sold out | 0.00% | −0.34 |
| TTAM Titan America SA | Reduce -73.1% | 0.10% | −0.33 |
| NVT Nvent Electric PLC | Reduce -37.2% | 0.71% | −0.30 |
| CTRE Caretrust REIT Inc. | Reduce -15.7% | 1.39% | −0.29 |
| TDG Transdigm Group Inc. | Reduce -14.5% | 0.74% | −0.29 |
| STC Stewart Information Services | Reduce -30.6% | 0.39% | −0.27 |
| EVRG Evergy Inc. | Sold out | 0.00% | −0.26 |
| LMRI Lumexa Imaging Holdings Inc. | Reduce -50.8% | 0.07% | −0.23 |
| MOD Modine Manufacturing Co. | Sold out | 0.00% | −0.22 |
| KBONU Karbon Capital Partners Corp. | Sold out | 0.00% | −0.21 |
| CARR Carrier Global Corp. | Reduce -40.6% | 0.33% | −0.21 |
| PCG P G & E Corp. | Reduce -11.9% | 2.88% | −0.21 |
| PACS Pacs Group Inc. | Reduce -53.7% | 0.11% | −0.19 |
| FVR Frontview REIT Inc. | Reduce -53.9% | 0.17% | −0.19 |
| MDLN Medline Inc. Class A | Sold out | 0.00% | −0.18 |
| KVUE Kenvue Inc. | Sold out | 0.00% | −0.17 |
| PRMB Primo Brands Corp. | Reduce -36.4% | 0.34% | −0.14 |
| PH Parker Hannifin Corp. | Reduce -16.7% | 0.57% | −0.12 |
| BLSH Bullish | Sold out | 0.00% | −0.11 |
| NP Neptune Insurance Holdi Class A | Sold out | 0.00% | −0.10 |
| CPK Chesapeake Utilities Corp. | Sold out | 0.00% | −0.07 |
| BETA Beta Technologies Inc. Class A | Sold out | 0.00% | −0.06 |
Portfolio Buys Q4 2025 → Q1 2026
| ADC Agree Realty Corp. | New | 6.34% | +6.34 |
| WEC WEC Energy Group Inc. | New | 2.46% | +2.46 |
| KMI Kinder Morgan Inc. | Add +42.8% | 4.91% | +2.00 |
| NI Nisource Inc. | Add +32.9% | 6.13% | +1.87 |
| FPS Forgent Power Solutions Class A | New | 1.46% | +1.46 |
| HTO H2O America | Add +2184.6% | 1.50% | +1.44 |
| TRGP Targa Resources Corp. | Add +1.7% | 5.09% | +1.29 |
| KTOS Kratos Defense & Security | Add +770.2% | 1.41% | +1.23 |
| BKV BKV Corporation | Add +290.0% | 1.42% | +1.06 |
| PNW Pinnacle West Capital | Add +266.5% | 1.29% | +0.97 |
| SWX Southwest Gas Holdings Inc. | Add +228.4% | 1.35% | +0.96 |
| CRH CRH PLC | Add +400.0% | 1.07% | +0.81 |
| BKH Black Hills Corp. | Add +168.5% | 1.31% | +0.81 |
| D Dominion Energy Inc. | New | 0.79% | +0.79 |
| GE General Electric | Add +550.0% | 0.94% | +0.78 |
| VSEC Vse Corp. | New | 0.76% | +0.76 |
| APH Amphenol Corp. Class A | New | 0.75% | +0.75 |
| WHR Whirlpool Corp. | New | 0.59% | +0.59 |
| CWST Casella Waste Systems Inc. Class A | Add +1596.0% | 0.52% | +0.48 |
| QXO Qxo Inc. | Add +162.5% | 0.78% | +0.48 |
| USAR USA Rare Earth Inc. | New | 0.45% | +0.45 |
| PNR Pentair PLC | New | 0.44% | +0.44 |
| SM SM Energy Co. | New | 0.42% | +0.42 |
| EME Emcor Group Inc. | Add +112.1% | 0.66% | +0.39 |
| CR Crane Co. | New | 0.37% | +0.37 |
| POOL Pool Corp. | New | 0.36% | +0.36 |
| FCX Freeport-McMoran Inc. | New | 0.36% | +0.36 |
| JAN Janus Living Inc. Class-A-1 | New | 0.35% | +0.35 |
| LOAR Loar Holdings Inc. | Add +108.2% | 0.84% | +0.34 |
| CMI Cummins Inc. | New | 0.34% | +0.34 |
| SARO Standardaero Inc. | Add +135.5% | 0.56% | +0.29 |
| GNRC Generac Holdings Inc. | New | 0.27% | +0.27 |
| CNM Core & Main Inc. Class A | Add +115.0% | 0.54% | +0.27 |
| HUT Hut 8 Corp. | Add +279.3% | 0.33% | +0.24 |
| BLDR Builders Firstsource Inc. | Add +92.8% | 0.70% | +0.23 |
| WBI Waterbridge Infrastruc Class A | New | 0.22% | +0.22 |
| AIV Apartment Invt & Mgmt Co. Class A | New | 0.21% | +0.21 |
| EQPT Equipmentshare.com Inc. Class A | New | 0.21% | +0.21 |
| ROL Rollins Inc. | New | 0.20% | +0.20 |
| EMA Emera Inc. | New | 0.20% | +0.20 |
| WELL Welltower Inc. | Add +0.2% | 5.65% | +0.19 |
| INVX Innovex International Inc. | New | 0.19% | +0.19 |
| VRTS Virtus Investment Partners | Add +236.5% | 0.29% | +0.18 |
| ALM Almonty Industries Inc. | New | 0.18% | +0.18 |
| GEV GE Vernova Inc. | New | 0.17% | +0.17 |
| SYY Sysco Corp. | New | 0.15% | +0.15 |
| CAT Caterpillar Inc. | Add +26.9% | 0.30% | +0.10 |
| ALH Alliance Laundry Holdings Inc. | Add +20.5% | 0.61% | +0.10 |
| AAON Aaon Inc. | New | 0.10% | +0.10 |
| GPC Genuine Parts Co. | Add +66.7% | 0.34% | +0.09 |
Options Activity Q4 2025 → Q1 2026
| HE Hawaiian Electric Inds | put | New | 1,500,000 | $22.3M |
| ES Eversource Energy | call | New | 250,000 | $17.3M |
| HTO H2O America | put | New | 250,000 | $14.7M |
| PCG P G & E Corp. | call | New | 500,000 | $8.8M |
| BKH Black Hills Corp. | call | New | 125,000 | $8.7M |
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
Notes & Other Activity Q4 2025 → Q1 2026
| TXNM ENERGY INC (TXNM 5.75 06/01/54) | NOTE 5.750% 6/0 · principal | New | 95,022,000 | $127.1M |
| NEXTERA ENERGY INC (NEE 7.375 02/15/29) | UNIT 02/15/2029 | New | 609,324 | $30.7M |
| WHIRLPOOL CORP (WHR 8.5 02/15/29 A) | 8.5 DEP SR A CNV | New | 50,000 | $2.1M |
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 | 111 | $4.2B | WELL, NI, ES, KGS, XEL |
| Q1 2026 | 117 | $3.9B | ADC, NI, ES, WELL, XEL |
| Q4 2025 | 119 | $3.8B | ES, WELL, XEL, NI, KGS |
| Q3 2025 | 133 | $4.1B | ES, NI, TRGP, XEL, WELL |
| Q2 2025 | 145 | $4.4B | ES, AEP, XEL, TRGP, TXNM |
| Q1 2025 | 147 | $4.9B | AEP, XEL, WELL, PCG, TRGP |
| Q4 2024 | 145 | $5.8B | WELL, BA, TRGP, PCG, XEL |
| Q3 2024 | 143 | $5.3B | WELL, RYAN, AEE, EVRG, PNW |
| Q2 2024 | 149 | $5.2B | WELL, EVRG, ES, AEE, RYAN |
| Q1 2024 | 128 | $4.6B | WELL, AEE, RYAN, NI, PCG |