Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORP	833,200	$141M	4.4%	—	—	PUT	30231G102
SPY	STATE STR SPDR S&P 500 ETF T	200,000	$130M	4.1%	—	—	CALL	78462F103
APH	AMPHENOL CORP	800,000	$101M	3.2%	—	—	PUT	032095101
AWK	AMERICAN WTR WKS CO INC NEW	500,000	$68.05M	2.1%	—	—	CALL	030420103
VST	VISTRA CORP	451,591	$67.89M	2.1%	—	—	COM	92840M102
TEL	TE CONNECTIVITY PLC	319,300	$66.74M	2.1%	—	—	PUT	G87052109
CSX	CSX CORP	1,000,000	$41.05M	1.3%	—	—	CALL	126408103
CMS	CMS ENERGY CORP	452,563	$35.11M	1.1%	—	—	COM	125896100
COP	CONOCOPHILLIPS	209,965	$27.72M	0.9%	—	—	COM	20825C104
TLN	TALEN ENERGY CORP	79,156	$25.27M	0.8%	—	—	COM	87422Q109
DTM	DT MIDSTREAM INC	187,062	$25.19M	0.8%	—	—	COMMON STOCK	23345M107
LYB	LYONDELLBASELL INDUSTRIES NV	282,151	$22.73M	0.7%	—	—	SHS - A -	N53745100
ETR	ENTERGY CORP NEW	200,000	$22.47M	0.7%	—	—	CALL	29364G103
VNOM	VIPER ENERGY INC	477,036	$22.42M	0.7%	—	—	CL A	64361Q101
KEX	KIRBY CORP	165,540	$22M	0.7%	—	—	COM	497266106
MWH	SOLV ENERGY INC	725,000	$21.77M	0.7%	—	—	COM SHS CL A	78475V103
EQNR	EQUINOR ASA	500,000	$21.1M	0.7%	—	—	PUT	29446M102
PAGP	PLAINS GP HLDGS L P	777,953	$18.89M	0.6%	—	—	LTD PARTNR INT A	72651A207
LITE	LUMENTUM HLDGS INC	22,192	$15.6M	0.5%	—	—	COM	55024U109
KBON	KARBON CAP PARTNERS CORP	1,470,000	$14.78M	0.5%	—	—	ORD SHS CL A	G5225W100
WLK	WESTLAKE CORPORATION	107,044	$12.5M	0.4%	—	—	COM	960413102
CENX	CENTURY ALUM CO	211,201	$12.4M	0.4%	—	—	COM	156431108
SARO	STANDARDAERO INC	459,407	$11.87M	0.4%	—	—	COM	85423L103
CNR	CORE NATURAL RESOURCES INC	113,192	$11.85M	0.4%	—	—	COM SHS	218937100
FPS	FORGENT POWER SOLUTIONS INC	400,000	$11.71M	0.4%	—	—	COM SHS CL A	34631F102
NXT	NEXTPOWER INC	93,110	$11.22M	0.4%	—	—	CLASS A COM	65290E101
ALUB	ALUSSA ENERGY ACQUISIT CORP	1,100,080	$10.98M	0.3%	—	—	ORD SHS CL A	G0233J100
USAR	USA RARE EARTH INC	700,000	$10.59M	0.3%	—	—	COM	91733P107
FLOC	FLOWCO HLDGS INC	454,545	$9.364M	0.3%	—	—	COM CL A	342909108
POR	PORTLAND GEN ELEC CO	175,000	$9.235M	0.3%	—	—	COM NEW	736508847
CORZ	CORE SCIENTIFIC INC NEW	517,302	$7.739M	0.2%	—	—	COM	21874A106
SR	SPIRE INC	75,176	$6.806M	0.2%	—	—	COM	84857L101
EE	EXCELERATE ENERGY INC	196,990	$6.583M	0.2%	—	—	CL A COM	30069T101
CC	CHEMOURS CO	271,134	$5.973M	0.2%	—	—	COM	163851108
DAR	DARLING INGREDIENTS INC	95,728	$5.921M	0.2%	—	—	COM	237266101
HCIC	HENNESSY CAP INVTS CORP VIII	500,000	$4.915M	0.2%	—	—	ORD CL A	G44055104
SEDG	SOLAREDGE TECHNOLOGIES INC	30,341	$1.549M	0.0%	—	—	COM	83417M104
ASPI	ASP ISOTOPES INC	300,000	$1.326M	0.0%	—	—	COM	00218A105
KBONW	KARBON CAP PARTNERS CORP	367,499	$147K	0.0%	—	—	*W EXP 12/11/203	G5225W118
ALUB/WS	ALUSSA ENERGY ACQUISIT CORP	366,666	$132K	0.0%	—	—	*W EXP 04/10/202	G0233J118
HCICR	HENNESSY CAP INVTS CORP VIII	500,000	$95,000	0.0%	—	—	RIGHT 02/02/2031	G44055120

Increased Positions (21)

SPY STATE STR SPDR S&P 500 ETF T 16.4%

Value $527M (+306.6%) Shares 810,000 (+326.3%) Est. Cost — Unrealized —

HTO H2O AMERICA 1.6%

Value $52.54M (+973.6%) Shares 895,435 (+796.5%) Est. Cost — Unrealized —

BKV BKV CORP 1.8%

Value $58.19M (+185.8%) Shares 2,040,355 (+172.0%) Est. Cost — Unrealized —

PEG PUBLIC SVC ENTERPRISE GROUP 1.7%

Value $53.89M (+185.3%) Shares 665,768 (+183.0%) Est. Cost — Unrealized —

CTRA COTERRA ENERGY INC 3.0%

Value $95.26M (+52.8%) Shares 2,710,826 (+14.4%) Est. Cost — Unrealized —

PBF PBF ENERGY INC 1.3%

Value $42.86M (+115.7%) Shares 900,000 (+22.8%) Est. Cost — Unrealized —

HUT HUT 8 CORP 1.3%

Value $42.52M (+72.5%) Shares 906,316 (+68.9%) Est. Cost — Unrealized —

TBN TAMBORAN RES CORP 0.8%

Value $26.75M (+90.6%) Shares 535,174 (+3.8%) Est. Cost — Unrealized —

XIFR XPLR INFRASTRUCTURE LP 0.7%

Value $22.66M (+103.1%) Shares 2,133,787 (+91.3%) Est. Cost — Unrealized —

COHR COHERENT CORP 0.9%

Value $27.83M (+69.1%) Shares 116,824 (+31.0%) Est. Cost — Unrealized —

NI NISOURCE INC 1.8%

Value $57.99M (+16.4%) Shares 1,242,895 (+4.2%) Est. Cost — Unrealized —

BKH BLACK HILLS CORP 0.5%

Value $17.12M (+77.5%) Shares 246,649 (+77.5%) Est. Cost — Unrealized —

TAC TRANSALTA CORP 0.7%

Value $23.52M (+44.0%) Shares 1,788,700 (+38.6%) Est. Cost — Unrealized —

IDA IDACORP INC 0.5%

Value $16.11M (+80.5%) Shares 112,690 (+59.8%) Est. Cost — Unrealized —

CWEN/A CLEARWAY ENERGY INC 0.3%

Value $10.88M (+51.0%) Shares 277,870 (+21.1%) Est. Cost — Unrealized —

INR INFINITY NAT RES INC 0.3%

Value $9.584M (+39.2%) Shares 544,208 (+16.4%) Est. Cost — Unrealized —

OGE OGE ENERGY CORP 0.5%

Value $15.3M (+19.5%) Shares 319,071 (+6.4%) Est. Cost — Unrealized —

KRP KIMBELL RTY PARTNERS LP 0.2%

Value $7.453M (+27.6%) Shares 515,100 (+3.7%) Est. Cost — Unrealized —

CDLR CADELER A S 0.1%

Value $2.262M (+30.2%) Shares 96,132 (+2.9%) Est. Cost — Unrealized —

NWE NORTHWESTERN ENERGY GROUP IN 0.2%

Value $6.919M (+6.5%) Shares 104,922 (+4.3%) Est. Cost — Unrealized —

OPAL OPAL FUELS INC 0.1%

Value $1.967M (+8.9%) Shares 780,692 (+1.8%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	810,000 (+326.3%)	$527M (+306.6%)	16.4%	—	—	PUT	78462F103
HTO	H2O AMERICA	895,435 (+796.5%)	$52.54M (+973.6%)	1.6%	—	—	COM	784305104
BKV	BKV CORP	2,040,355 (+172.0%)	$58.19M (+185.8%)	1.8%	—	—	COM	05603J108
PEG	PUBLIC SVC ENTERPRISE GROUP	665,768 (+183.0%)	$53.89M (+185.3%)	1.7%	—	—	COM	744573106
CTRA	COTERRA ENERGY INC	2,710,826 (+14.4%)	$95.26M (+52.8%)	3.0%	—	—	COM	127097103
PBF	PBF ENERGY INC	900,000 (+22.8%)	$42.86M (+115.7%)	1.3%	—	—	PUT	69318G106
HUT	HUT 8 CORP	906,316 (+68.9%)	$42.52M (+72.5%)	1.3%	—	—	COM	44812J104
TBN	TAMBORAN RES CORP	535,174 (+3.8%)	$26.75M (+90.6%)	0.8%	—	—	COM	87507T101
XIFR	XPLR INFRASTRUCTURE LP	2,133,787 (+91.3%)	$22.66M (+103.1%)	0.7%	—	—	COM UNIT PART IN	65341B106
COHR	COHERENT CORP	116,824 (+31.0%)	$27.83M (+69.1%)	0.9%	—	—	COM	19247G107
NI	NISOURCE INC	1,242,895 (+4.2%)	$57.99M (+16.4%)	1.8%	—	—	COM	65473P105
BKH	BLACK HILLS CORP	246,649 (+77.5%)	$17.12M (+77.5%)	0.5%	—	—	COM	092113109
TAC	TRANSALTA CORP	1,788,700 (+38.6%)	$23.52M (+44.0%)	0.7%	—	—	COM	89346D107
IDA	IDACORP INC	112,690 (+59.8%)	$16.11M (+80.5%)	0.5%	—	—	COM	451107106
CWEN/A	CLEARWAY ENERGY INC	277,870 (+21.1%)	$10.88M (+51.0%)	0.3%	—	—	CL A	18539C105
INR	INFINITY NAT RES INC	544,208 (+16.4%)	$9.584M (+39.2%)	0.3%	—	—	COM CL A	456941103
OGE	OGE ENERGY CORP	319,071 (+6.4%)	$15.3M (+19.5%)	0.5%	—	—	COM	670837103
KRP	KIMBELL RTY PARTNERS LP	515,100 (+3.7%)	$7.453M (+27.6%)	0.2%	—	—	UNIT	49435R102
CDLR	CADELER A S	96,132 (+2.9%)	$2.262M (+30.2%)	0.1%	—	—	SPON ADR	12738K109
NWE	NORTHWESTERN ENERGY GROUP IN	104,922 (+4.3%)	$6.919M (+6.5%)	0.2%	—	—	COM NEW	668074305
OPAL	OPAL FUELS INC	780,692 (+1.8%)	$1.967M (+8.9%)	0.1%	—	—	CLASS A COM	68347P103

Exited Positions (51)

HYG ISHARES TR 5.2%

Value $165M Shares 2,050,300 Est. Cost — Unrealized —

EQT EQT CORP 2.5%

Value $78.61M Shares 1,466,600 Est. Cost — Unrealized —

PSX PHILLIPS 66 2.1%

Value $66.13M Shares 512,500 Est. Cost — Unrealized —

CRH CRH PLC 2.0%

Value $63.11M Shares 505,713 Est. Cost — Unrealized —

ETN EATON CORP PLC 1.5%

Value $48.57M Shares 152,500 Est. Cost — Unrealized —

PWR QUANTA SVCS INC 1.3%

Value $42.21M Shares 100,000 Est. Cost — Unrealized —

FSLR FIRST SOLAR INC 1.1%

Value $36.57M Shares 140,000 Est. Cost — Unrealized —

ROK ROCKWELL AUTOMATION INC 1.1%

Value $36.49M Shares 93,793 Est. Cost — Unrealized —

NUE NUCOR CORP 1.1%

Value $35.36M Shares 216,764 Est. Cost — Unrealized —

XEL XCEL ENERGY INC 0.9%

Value $27.34M Shares 370,200 Est. Cost — Unrealized —

MTZ MASTEC INC 0.8%

Value $25.43M Shares 116,993 Est. Cost — Unrealized —

KGS KODIAK GAS SVCS INC 0.8%

Value $24.17M Shares 646,131 Est. Cost — Unrealized —

CHRW C H ROBINSON WORLDWIDE INC 0.7%

Value $23.69M Shares 147,360 Est. Cost — Unrealized —

WWD WOODWARD INC 0.7%

Value $22.98M Shares 76,017 Est. Cost — Unrealized —

CF CF INDS HLDGS INC 0.7%

Value $22.7M Shares 293,500 Est. Cost — Unrealized —

WFRD WEATHERFORD INTL PLC 0.7%

Value $20.85M Shares 266,463 Est. Cost — Unrealized —

XME SPDR SERIES TRUST 0.6%

Value $20.72M Shares 200,000 Est. Cost — Unrealized —

ON ON SEMICONDUCTOR CORP 0.6%

Value $19.15M Shares 353,580 Est. Cost — Unrealized —

HAL HALLIBURTON CO 0.6%

Value $18.89M Shares 668,506 Est. Cost — Unrealized —

CWST CASELLA WASTE SYS INC 0.6%

Value $18.89M Shares 192,855 Est. Cost — Unrealized —

CCJ CAMECO CORP 0.6%

Value $18.76M Shares 205,000 Est. Cost — Unrealized —

L LOEWS CORP 0.6%

Value $18.62M Shares 176,832 Est. Cost — Unrealized —

LGN LEGENCE CORP 0.5%

Value $17.21M Shares 399,817 Est. Cost — Unrealized —

DOW DOW INC 0.5%

Value $16.37M Shares 700,000 Est. Cost — Unrealized —

EVRG EVERGY INC 0.5%

Value $15.23M Shares 210,050 Est. Cost — Unrealized —

KBONU KARBON CAP PARTNERS CORP 0.5%

Value $14.8M Shares 1,470,000 Est. Cost — Unrealized —

CAT CATERPILLAR INC 0.5%

Value $14.69M Shares 25,641 Est. Cost — Unrealized —

SOLS SOLSTICE ADVANCED MATLS INC 0.4%

Value $14.15M Shares 291,261 Est. Cost — Unrealized —

VG VENTURE GLOBAL INC 0.4%

Value $13.84M Shares 2,028,700 Est. Cost — Unrealized —

SHLS SHOALS TECHNOLOGIES GROUP IN 0.4%

Value $13.25M Shares 1,558,888 Est. Cost — Unrealized —

RIO RIO TINTO PLC 0.4%

Value $12.24M Shares 152,955 Est. Cost — Unrealized —

ALUB/U ALUSSA ENERGY ACQUISITION CO 0.3%

Value $11.11M Shares 1,100,000 Est. Cost — Unrealized —

WBI WATERBRIDGE INFRASTRUCTURE L 0.3%

Value $9.946M Shares 497,046 Est. Cost — Unrealized —

PTEN PATTERSON-UTI ENERGY INC 0.3%

Value $9.885M Shares 1,617,799 Est. Cost — Unrealized —

TSLA TESLA INC 0.3%

Value $8.811M Shares 19,593 Est. Cost — Unrealized —

NSC NORFOLK SOUTHN CORP 0.3%

Value $8.779M Shares 30,407 Est. Cost — Unrealized —

OR OR ROYALTIES INC. 0.2%

Value $7.27M Shares 205,228 Est. Cost — Unrealized —

NEXT NEXTDECADE CORP 0.2%

Value $6.503M Shares 1,233,976 Est. Cost — Unrealized —

WMS ADVANCED DRAIN SYS INC DEL 0.2%

Value $5.811M Shares 40,120 Est. Cost — Unrealized —

KNTK KINETIK HOLDINGS INC 0.2%

Value $5.698M Shares 158,069 Est. Cost — Unrealized —

AQN ALGONQUIN PWR UTILS CORP 0.2%

Value $5.33M Shares 866,736 Est. Cost — Unrealized —

— RAMACO RES INC 0.2%

Value $5.099M Shares 6,000 Est. Cost — Unrealized —

HE HAWAIIAN ELEC INDUSTRIES 0.2%

Value $5.086M Shares 413,497 Est. Cost — Unrealized —

PPTA PERPETUA RESOURCES CORP 0.1%

Value $4.612M Shares 190,481 Est. Cost — Unrealized —

SOC SABLE OFFSHORE CORP 0.1%

Value $4.052M Shares 449,215 Est. Cost — Unrealized —

FTAI FTAI AVIATION LTD 0.1%

Value $2.824M Shares 14,348 Est. Cost — Unrealized —

LB LANDBRIDGE COMPANY LLC 0.1%

Value $2.511M Shares 51,258 Est. Cost — Unrealized —

AEVA AEVA TECHNOLOGIES INC 0.1%

Value $2.269M Shares 170,832 Est. Cost — Unrealized —

TALO TALOS ENERGY INC 0.1%

Value $2.204M Shares 200,000 Est. Cost — Unrealized —

AUR AURORA INNOVATION INC 0.1%

Value $1.881M Shares 489,855 Est. Cost — Unrealized —

METC RAMACO RES INC 0.0%

Value $201K Shares 11,173 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	2,050,300	$165M	5.2%	—	—	PUT	464288513
EQT	EQT CORP	1,466,600	$78.61M	2.5%	—	—	CALL	26884L109
PSX	PHILLIPS 66	512,500	$66.13M	2.1%	—	—	PUT	718546104
CRH	CRH PLC	505,713	$63.11M	2.0%	—	—	—	G25508105
ETN	EATON CORP PLC	152,500	$48.57M	1.5%	—	—	PUT	G29183103
PWR	QUANTA SVCS INC	100,000	$42.21M	1.3%	—	—	PUT	74762E102
FSLR	FIRST SOLAR INC	140,000	$36.57M	1.1%	—	—	PUT	336433107
ROK	ROCKWELL AUTOMATION INC	93,793	$36.49M	1.1%	—	—	—	773903109
NUE	NUCOR CORP	216,764	$35.36M	1.1%	—	—	—	670346105
XEL	XCEL ENERGY INC	370,200	$27.34M	0.9%	—	—	PUT	98389B100
MTZ	MASTEC INC	116,993	$25.43M	0.8%	—	—	—	576323109
KGS	KODIAK GAS SVCS INC	646,131	$24.17M	0.8%	—	—	—	50012A108
CHRW	C H ROBINSON WORLDWIDE INC	147,360	$23.69M	0.7%	—	—	—	12541W209
WWD	WOODWARD INC	76,017	$22.98M	0.7%	—	—	—	980745103
CF	CF INDS HLDGS INC	293,500	$22.7M	0.7%	—	—	PUT	125269100
WFRD	WEATHERFORD INTL PLC	266,463	$20.85M	0.7%	—	—	—	G48833118
XME	SPDR SERIES TRUST	200,000	$20.72M	0.6%	—	—	PUT	78464A755
ON	ON SEMICONDUCTOR CORP	353,580	$19.15M	0.6%	—	—	—	682189105
HAL	HALLIBURTON CO	668,506	$18.89M	0.6%	—	—	—	406216101
CWST	CASELLA WASTE SYS INC	192,855	$18.89M	0.6%	—	—	—	147448104
CCJ	CAMECO CORP	205,000	$18.76M	0.6%	—	—	PUT	13321L108
L	LOEWS CORP	176,832	$18.62M	0.6%	—	—	—	540424108
LGN	LEGENCE CORP	399,817	$17.21M	0.5%	—	—	—	52476L109
DOW	DOW INC	700,000	$16.37M	0.5%	—	—	PUT	260557103
EVRG	EVERGY INC	210,050	$15.23M	0.5%	—	—	—	30034W106
KBONU	KARBON CAP PARTNERS CORP	1,470,000	$14.8M	0.5%	—	—	—	G5225W126
CAT	CATERPILLAR INC	25,641	$14.69M	0.5%	—	—	—	149123101
SOLS	SOLSTICE ADVANCED MATLS INC	291,261	$14.15M	0.4%	—	—	—	83443Q103
VG	VENTURE GLOBAL INC	2,028,700	$13.84M	0.4%	—	—	PUT	92333F101
SHLS	SHOALS TECHNOLOGIES GROUP IN	1,558,888	$13.25M	0.4%	—	—	—	82489W107
RIO	RIO TINTO PLC	152,955	$12.24M	0.4%	—	—	—	767204100
ALUB/U	ALUSSA ENERGY ACQUISITION CO	1,100,000	$11.11M	0.3%	—	—	—	G0233J126
WBI	WATERBRIDGE INFRASTRUCTURE L	497,046	$9.946M	0.3%	—	—	—	940923105
PTEN	PATTERSON-UTI ENERGY INC	1,617,799	$9.885M	0.3%	—	—	—	703481101
TSLA	TESLA INC	19,593	$8.811M	0.3%	—	—	—	88160R101
NSC	NORFOLK SOUTHN CORP	30,407	$8.779M	0.3%	—	—	—	655844108
OR	OR ROYALTIES INC.	205,228	$7.27M	0.2%	—	—	—	68390D106
NEXT	NEXTDECADE CORP	1,233,976	$6.503M	0.2%	—	—	—	65342K105
WMS	ADVANCED DRAIN SYS INC DEL	40,120	$5.811M	0.2%	—	—	—	00790R104
KNTK	KINETIK HOLDINGS INC	158,069	$5.698M	0.2%	—	—	—	02215L209
AQN	ALGONQUIN PWR UTILS CORP	866,736	$5.33M	0.2%	—	—	—	015857105
—	RAMACO RES INC	6,000	$5.099M	0.2%	—	—	—	75134PAB1
HE	HAWAIIAN ELEC INDUSTRIES	413,497	$5.086M	0.2%	—	—	—	419870100
PPTA	PERPETUA RESOURCES CORP	190,481	$4.612M	0.1%	—	—	—	714266103
SOC	SABLE OFFSHORE CORP	449,215	$4.052M	0.1%	—	—	—	78574H104
FTAI	FTAI AVIATION LTD	14,348	$2.824M	0.1%	—	—	—	G3730V105
LB	LANDBRIDGE COMPANY LLC	51,258	$2.511M	0.1%	—	—	—	514952100
AEVA	AEVA TECHNOLOGIES INC	170,832	$2.269M	0.1%	—	—	—	00835Q202
TALO	TALOS ENERGY INC	200,000	$2.204M	0.1%	—	—	PUT	87484T108
AUR	AURORA INNOVATION INC	489,855	$1.881M	0.1%	—	—	—	051774107
METC	RAMACO RES INC	11,173	$201K	0.0%	—	—	—	75134P600

Decreased Positions (29)

BP BP PLC 1.4%

Value $44.57M (-42.5%) Shares 948,265 (-57.5%) Est. Cost — Unrealized —

AES AES CORP 1.1%

Value $33.76M (-46.0%) Shares 2,395,940 (-45.0%) Est. Cost — Unrealized —

TRP TC ENERGY CORP 1.3%

Value $43.23M (-31.3%) Shares 690,366 (-39.6%) Est. Cost — Unrealized —

FTI TECHNIPFMC PLC 0.7%

Value $23.82M (-43.3%) Shares 344,594 (-63.5%) Est. Cost — Unrealized —

PNW PINNACLE WEST CAP CORP 1.0%

Value $30.73M (-32.3%) Shares 304,982 (-40.4%) Est. Cost — Unrealized —

MDU MDU RES GROUP INC 0.4%

Value $11.36M (-51.5%) Shares 548,025 (-54.3%) Est. Cost — Unrealized —

TECK TECK RESOURCES LTD 0.2%

Value $6.332M (-63.4%) Shares 122,357 (-66.1%) Est. Cost — Unrealized —

SHEL SHELL PLC 1.2%

Value $38.29M (-22.1%) Shares 411,760 (-38.4%) Est. Cost — Unrealized —

DINO HF SINCLAIR CORP 0.0%

Value $417K (-96.2%) Shares 6,681 (-97.2%) Est. Cost — Unrealized —

WMB WILLIAMS COS INC 1.1%

Value $35.02M (-21.4%) Shares 481,181 (-35.1%) Est. Cost — Unrealized —

NFG NATIONAL FUEL GAS CO 3.1%

Value $98.03M (+10.7%) Shares 1,043,272 (-5.7%) Est. Cost — Unrealized —

DUK DUKE ENERGY CORP NEW 1.4%

Value $44.22M (-15.0%) Shares 337,728 (-23.9%) Est. Cost — Unrealized —

HBM HUDBAY MINERALS INC 0.4%

Value $13.63M (-34.7%) Shares 652,285 (-38.0%) Est. Cost — Unrealized —

PR PERMIAN RESOURCES CORP 2.0%

Value $64.44M (+12.5%) Shares 3,022,482 (-26.0%) Est. Cost — Unrealized —

WOLF WOLFSPEED INC 0.0%

Value $1.251M (-84.0%) Shares 76,671 (-83.0%) Est. Cost — Unrealized —

MTDR MATADOR RES CO 0.8%

Value $24.63M (-20.1%) Shares 389,909 (-46.3%) Est. Cost — Unrealized —

NEXT NEXTDECADE CORP 0.5%

Value $15.8M (-25.0%) Shares 2,062,800 (-48.4%) Est. Cost — Unrealized —

TXNM TXNM ENERGY INC 0.3%

Value $10.22M (-33.3%) Shares 174,858 (-32.8%) Est. Cost — Unrealized —

ETR ENTERGY CORP NEW 0.7%

Value $21.3M (-14.6%) Shares 189,560 (-29.8%) Est. Cost — Unrealized —

TRGP TARGA RES CORP 1.0%

Value $32.8M (+9.6%) Shares 130,822 (-19.3%) Est. Cost — Unrealized —

CNP CENTERPOINT ENERGY INC 0.9%

Value $28.38M (-8.8%) Shares 657,493 (-19.0%) Est. Cost — Unrealized —

EQT EQT CORP 0.9%

Value $29.34M (-8.1%) Shares 461,022 (-22.6%) Est. Cost — Unrealized —

B BARRICK MNG CORP 0.6%

Value $19.19M (-11.3%) Shares 470,475 (-5.3%) Est. Cost — Unrealized —

CVE CENOVUS ENERGY INC 2.4%

Value $75.88M (+3.2%) Shares 2,860,109 (-34.2%) Est. Cost — Unrealized —

AWK AMERICAN WTR WKS CO INC NEW 1.4%

Value $43.26M (-5.1%) Shares 317,899 (-9.0%) Est. Cost — Unrealized —

CSX CSX CORP 1.7%

Value $55.52M (-1.8%) Shares 1,352,431 (-13.3%) Est. Cost — Unrealized —

AEE AMEREN CORP 1.4%

Value $44.29M (+2.1%) Shares 402,897 (-7.3%) Est. Cost — Unrealized —

OVV OVINTIV INC 2.0%

Value $65.09M (-1.2%) Shares 1,096,571 (-34.8%) Est. Cost — Unrealized —

DTE DTE ENERGY CO 1.2%

Value $37.37M (-0.3%) Shares 255,555 (-12.1%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BP	BP PLC	948,265 (-57.5%)	$44.57M (-42.5%)	1.4%	—	—	SPONSORED ADR	055622104
AES	AES CORP	2,395,940 (-45.0%)	$33.76M (-46.0%)	1.1%	—	—	COM	00130H105
TRP	TC ENERGY CORP	690,366 (-39.6%)	$43.23M (-31.3%)	1.3%	—	—	COM	87807B107
FTI	TECHNIPFMC PLC	344,594 (-63.5%)	$23.82M (-43.3%)	0.7%	—	—	COM	G87110105
PNW	PINNACLE WEST CAP CORP	304,982 (-40.4%)	$30.73M (-32.3%)	1.0%	—	—	COM	723484101
MDU	MDU RES GROUP INC	548,025 (-54.3%)	$11.36M (-51.5%)	0.4%	—	—	COM	552690109
TECK	TECK RESOURCES LTD	122,357 (-66.1%)	$6.332M (-63.4%)	0.2%	—	—	CL B	878742204
SHEL	SHELL PLC	411,760 (-38.4%)	$38.29M (-22.1%)	1.2%	—	—	SPON ADS	780259305
DINO	HF SINCLAIR CORP	6,681 (-97.2%)	$417K (-96.2%)	0.0%	—	—	COM	403949100
WMB	WILLIAMS COS INC	481,181 (-35.1%)	$35.02M (-21.4%)	1.1%	—	—	COM	969457100
NFG	NATIONAL FUEL GAS CO	1,043,272 (-5.7%)	$98.03M (+10.7%)	3.1%	—	—	COM	636180101
DUK	DUKE ENERGY CORP NEW	337,728 (-23.9%)	$44.22M (-15.0%)	1.4%	—	—	COM NEW	26441C204
HBM	HUDBAY MINERALS INC	652,285 (-38.0%)	$13.63M (-34.7%)	0.4%	—	—	COM	443628102
PR	PERMIAN RESOURCES CORP	3,022,482 (-26.0%)	$64.44M (+12.5%)	2.0%	—	—	CLASS A COM	71424F105
WOLF	WOLFSPEED INC	76,671 (-83.0%)	$1.251M (-84.0%)	0.0%	—	—	COMMON STOCK	97785W106
MTDR	MATADOR RES CO	389,909 (-46.3%)	$24.63M (-20.1%)	0.8%	—	—	COM	576485205
NEXT	NEXTDECADE CORP	2,062,800 (-48.4%)	$15.8M (-25.0%)	0.5%	—	—	CALL	65342K105
TXNM	TXNM ENERGY INC	174,858 (-32.8%)	$10.22M (-33.3%)	0.3%	—	—	COM	69349H107
ETR	ENTERGY CORP NEW	189,560 (-29.8%)	$21.3M (-14.6%)	0.7%	—	—	COM	29364G103
TRGP	TARGA RES CORP	130,822 (-19.3%)	$32.8M (+9.6%)	1.0%	—	—	COM	87612G101
CNP	CENTERPOINT ENERGY INC	657,493 (-19.0%)	$28.38M (-8.8%)	0.9%	—	—	COM	15189T107
EQT	EQT CORP	461,022 (-22.6%)	$29.34M (-8.1%)	0.9%	—	—	COM	26884L109
B	BARRICK MNG CORP	470,475 (-5.3%)	$19.19M (-11.3%)	0.6%	—	—	COM SHS	06849F108
CVE	CENOVUS ENERGY INC	2,860,109 (-34.2%)	$75.88M (+3.2%)	2.4%	—	—	COM	15135U109
AWK	AMERICAN WTR WKS CO INC NEW	317,899 (-9.0%)	$43.26M (-5.1%)	1.4%	—	—	COM	030420103
CSX	CSX CORP	1,352,431 (-13.3%)	$55.52M (-1.8%)	1.7%	—	—	COM	126408103
AEE	AMEREN CORP	402,897 (-7.3%)	$44.29M (+2.1%)	1.4%	—	—	COM	023608102
OVV	OVINTIV INC	1,096,571 (-34.8%)	$65.09M (-1.2%)	2.0%	—	—	COM	69047Q102
DTE	DTE ENERGY CO	255,555 (-12.1%)	$37.37M (-0.3%)	1.2%	—	—	COM	233331107

Unchanged Positions (7)

TLNCU TALON CAP CORP 0.3%

Value $10.4M Shares 1,000,000 Est. Cost — Unrealized —

KRSP RICE ACQUISITION CORP 3 0.5%

Value $14.7M Shares 1,425,829 Est. Cost — Unrealized —

CEPF CANTOR EQUITY PARTNERS IV IN 0.1%

Value $3.18M Shares 312,094 Est. Cost — Unrealized —

PAII PYROPHYTE ACQUISITION CORP. 0.0%

Value $210K Shares 20,708 Est. Cost — Unrealized —

CEPV CANTOR EQUITY PARTNERS V INC 0.0%

Value $104K Shares 10,251 Est. Cost — Unrealized —

PAII/WS PYROPHYTE ACQUISITION CORP. 0.0%

Value $3,417 Shares 10,354 Est. Cost — Unrealized —

KRSP/WS RICE ACQUISITION CORP 3 0.0%

Value $190K Shares 237,637 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TLNCU	TALON CAP CORP	1,000,000	$10.4M	0.3%	—	—	UNIT 08/27/2030	G86652115
KRSP	RICE ACQUISITION CORP 3	1,425,829	$14.7M	0.5%	—	—	ORD SHS CL A	G7553X106
CEPF	CANTOR EQUITY PARTNERS IV IN	312,094	$3.18M	0.1%	—	—	SHS CL A	G1828E100
PAII	PYROPHYTE ACQUISITION CORP.	20,708	$210K	0.0%	—	—	CL A SHS	G7309T102
CEPV	CANTOR EQUITY PARTNERS V INC	10,251	$104K	0.0%	—	—	SHS CL A S	G1828S109
PAII/WS	PYROPHYTE ACQUISITION CORP.	10,354	$3,417	0.0%	—	—	*W EXP 07/30/203	G7309T110
KRSP/WS	RICE ACQUISITION CORP 3	237,637	$190K	0.0%	—	—	*W EXP 99/99/999	G7553X114