Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
—	RITHM PPTY TR INC	400,000	$9.958M	14.8%	$24.89	—	9.875 FXD-FLT C	38983D862
FLEX	FLEXTRONICS INTL LTD	21,500	$1.407M	2.1%	$63.98	0.0%	ORD	Y2573F102
NVT	NVENT ELEC PLC	11,500	$1.36M	2.0%	$112.33	0.0%	SHS	G6700G107
FPS	FORGENT POWER SOLUTIONS INC	45,000	$1.317M	2.0%	$29.27	—	COM SHS CL A	34631F102
BDC	BELDEN INC	10,150	$1.166M	1.7%	$128.68	0.0%	COM	077454106
CWST	CASELLA WASTE SYS INC	8,250	$655K	1.0%	$101.70	0.0%	CL A	147448104
BWXT	BWX TECHNOLOGIES INC	2,600	$532K	0.8%	$202.99	0.0%	COM	05605H100

Increased Positions (17)

GEV GE VERNOVA INC 4.5%

Value $3.012M (+64.6%) Shares 3,450 (+23.2%) Est. Cost $466.40 Unrealized +58.0%

VRT VERTIV HOLDINGS CO 3.0%

Value $2.005M (+76.8%) Shares 8,000 (+14.3%) Est. Cost $123.73 Unrealized +61.5%

AEP AMERICAN ELEC PWR CO INC 1.7%

Value $1.114M (+222.1%) Shares 8,500 (+183.3%) Est. Cost $116.18 Unrealized +3.8%

SO SOUTHERN CO 1.6%

Value $1.11M (+154.6%) Shares 11,500 (+130.0%) Est. Cost $87.30 Unrealized +2.6%

RSG REPUBLIC SVCS INC 1.6%

Value $1.051M (+98.4%) Shares 4,800 (+92.0%) Est. Cost $213.86 Unrealized +1.3%

ECG EVERUS CONSTR GROUP 1.8%

Value $1.24M (+70.5%) Shares 10,500 (+23.5%) Est. Cost $65.22 Unrealized +47.2%

DUK DUKE ENERGY CORP NEW 1.7%

Value $1.126M (+71.6%) Shares 8,600 (+53.6%) Est. Cost $113.90 Unrealized +6.1%

WCN WASTE CONNECTIONS INC 1.5%

Value $991K (+88.4%) Shares 6,100 (+103.3%) Est. Cost $174.51 Unrealized -4.1%

OKE ONEOK INC NEW 1.1%

Value $723K (+96.8%) Shares 8,000 (+60.0%) Est. Cost $73.49 Unrealized +6.9%

RPT RITHM PPTY TR INC 13.0%

Value $8.775M (-3.7%) Shares 655,349 (+19.2%) Est. Cost $16.07 Unrealized —

ACM AECOM 1.3%

Value $869K (+52.0%) Shares 10,250 (+70.8%) Est. Cost $102.85 Unrealized -5.6%

CLH CLEAN HARBORS INC 1.7%

Value $1.147M (+32.2%) Shares 4,000 (+8.1%) Est. Cost $242.54 Unrealized +8.5%

NEE NEXTERA ENERGY INC 1.8%

Value $1.221M (+26.8%) Shares 13,150 (+9.6%) Est. Cost $75.43 Unrealized +15.6%

WM WASTE MGMT INC DEL 2.0%

Value $1.333M (+21.3%) Shares 5,800 (+16.0%) Est. Cost $213.92 Unrealized +5.7%

CEG CONSTELLATION ENERGY CORP 2.0%

Value $1.326M (-11.7%) Shares 4,750 (+11.8%) Est. Cost $265.30 Unrealized +13.5%

FSLR FIRST SOLAR INC 1.3%

Value $888K (-15.0%) Shares 4,500 (+12.5%) Est. Cost $186.14 Unrealized +27.4%

DY DYCOM INDS INC 1.9%

Value $1.288M (+3.0%) Shares 3,800 (+2.7%) Est. Cost $188.42 Unrealized +104.0%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
GEV	GE VERNOVA INC	3,450 (+23.2%)	$3.012M (+64.6%)	4.5%	$466.40	+58.0%	COM	36828A101
VRT	VERTIV HOLDINGS CO	8,000 (+14.3%)	$2.005M (+76.8%)	3.0%	$123.73	+61.5%	COM CL A	92537N108
AEP	AMERICAN ELEC PWR CO INC	8,500 (+183.3%)	$1.114M (+222.1%)	1.7%	$116.18	+3.8%	COM	025537101
SO	SOUTHERN CO	11,500 (+130.0%)	$1.11M (+154.6%)	1.6%	$87.30	+2.6%	COM	842587107
RSG	REPUBLIC SVCS INC	4,800 (+92.0%)	$1.051M (+98.4%)	1.6%	$213.86	+1.3%	COM	760759100
ECG	EVERUS CONSTR GROUP	10,500 (+23.5%)	$1.24M (+70.5%)	1.8%	$65.22	+47.2%	COM	300426103
DUK	DUKE ENERGY CORP NEW	8,600 (+53.6%)	$1.126M (+71.6%)	1.7%	$113.90	+6.1%	COM NEW	26441C204
WCN	WASTE CONNECTIONS INC	6,100 (+103.3%)	$991K (+88.4%)	1.5%	$174.51	-4.1%	COM	94106B101
OKE	ONEOK INC NEW	8,000 (+60.0%)	$723K (+96.8%)	1.1%	$73.49	+6.9%	COM	682680103
RPT	RITHM PPTY TR INC	655,349 (+19.2%)	$8.775M (-3.7%)	13.0%	$16.07	—	COM NEW SHS	38983D854
ACM	AECOM	10,250 (+70.8%)	$869K (+52.0%)	1.3%	$102.85	-5.6%	COM	00766T100
CLH	CLEAN HARBORS INC	4,000 (+8.1%)	$1.147M (+32.2%)	1.7%	$242.54	+8.5%	COM	184496107
NEE	NEXTERA ENERGY INC	13,150 (+9.6%)	$1.221M (+26.8%)	1.8%	$75.43	+15.6%	COM	65339F101
WM	WASTE MGMT INC DEL	5,800 (+16.0%)	$1.333M (+21.3%)	2.0%	$213.92	+5.7%	COM	94106L109
CEG	CONSTELLATION ENERGY CORP	4,750 (+11.8%)	$1.326M (-11.7%)	2.0%	$265.30	+13.5%	COM	21037T109
FSLR	FIRST SOLAR INC	4,500 (+12.5%)	$888K (-15.0%)	1.3%	$186.14	+27.4%	COM	336433107
DY	DYCOM INDS INC	3,800 (+2.7%)	$1.288M (+3.0%)	1.9%	$188.42	+104.0%	COM	267475101

Decreased Positions (7)

MTZ MASTEC INC 1.7%

Value $1.126M (+29.5%) Shares 3,500 (-12.5%) Est. Cost $134.92 Unrealized +85.4%

PWR QUANTA SVCS INC 2.8%

Value $1.867M (+13.4%) Shares 3,400 (-12.8%) Est. Cost $305.27 Unrealized +59.3%

PRIM PRIMORIS SVCS CORP 2.1%

Value $1.416M (+11.8%) Shares 9,900 (-2.9%) Est. Cost $72.47 Unrealized +106.8%

STRL STERLING INFRASTRUCTURE INC 1.6%

Value $1.059M (+15.3%) Shares 2,600 (-13.3%) Est. Cost $344.54 Unrealized +9.3%

POWL POWELL INDS INC 1.5%

Value $1.028M (+11.2%) Shares 1,900 (-34.5%) Est. Cost $249.72 Unrealized +88.7%

MYRG MYR GROUP INC 1.3%

Value $847K (+10.7%) Shares 3,000 (-14.3%) Est. Cost $133.00 Unrealized +91.0%

EMR EMERSON ELEC CO 1.1%

Value $721K (-9.5%) Shares 5,500 (-8.3%) Est. Cost $118.30 Unrealized +25.5%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
MTZ	MASTEC INC	3,500 (-12.5%)	$1.126M (+29.5%)	1.7%	$134.92	+85.4%	COM	576323109
PWR	QUANTA SVCS INC	3,400 (-12.8%)	$1.867M (+13.4%)	2.8%	$305.27	+59.3%	COM	74762E102
PRIM	PRIMORIS SVCS CORP	9,900 (-2.9%)	$1.416M (+11.8%)	2.1%	$72.47	+106.8%	COM	74164F103
STRL	STERLING INFRASTRUCTURE INC	2,600 (-13.3%)	$1.059M (+15.3%)	1.6%	$344.54	+9.3%	COM	859241101
POWL	POWELL INDS INC	1,900 (-34.5%)	$1.028M (+11.2%)	1.5%	$249.72	+88.7%	COM	739128106
MYRG	MYR GROUP INC	3,000 (-14.3%)	$847K (+10.7%)	1.3%	$133.00	+91.0%	COM	55405W104
EMR	EMERSON ELEC CO	5,500 (-8.3%)	$721K (-9.5%)	1.1%	$118.30	+25.5%	COM	291011104

Unchanged Positions (7)

NXT NEXTPOWER INC 2.1%

Value $1.386M Shares 11,500 Est. Cost $36.62 Unrealized +197.1%

ETN EATON CORP PLC 2.5%

Value $1.717M Shares 4,800 Est. Cost $332.42 Unrealized +6.4%

TRGP TARGA RES CORP 0.9%

Value $627K Shares 2,500 Est. Cost $165.56 Unrealized +21.8%

EME EMCOR GROUP INC 1.4%

Value $923K Shares 1,250 Est. Cost $507.22 Unrealized +43.3%

HUBB HUBBELL INC 1.8%

Value $1.227M Shares 2,500 Est. Cost $428.24 Unrealized +15.7%

RAC/U RITHM ACQUISITION CORP 10.4%

Value $7.003M Shares 660,000 Est. Cost $10.10 Unrealized —

FELE FRANKLIN ELEC INC 1.2%

Value $811K Shares 8,800 Est. Cost $96.34 Unrealized +4.2%

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
NXT	NEXTPOWER INC	11,500	$1.386M	2.1%	$36.62	+197.1%	CLASS A COM	65290E101
ETN	EATON CORP PLC	4,800	$1.717M	2.5%	$332.42	+6.4%	SHS	G29183103
TRGP	TARGA RES CORP	2,500	$627K	0.9%	$165.56	+21.8%	COM	87612G101
EME	EMCOR GROUP INC	1,250	$923K	1.4%	$507.22	+43.3%	COM	29084Q100
HUBB	HUBBELL INC	2,500	$1.227M	1.8%	$428.24	+15.7%	COM	443510607
RAC/U	RITHM ACQUISITION CORP	660,000	$7.003M	10.4%	$10.10	—	UNIT 99/99/9999	G75751126
FELE	FRANKLIN ELEC INC	8,800	$811K	1.2%	$96.34	+4.2%	COM	353514102