Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
TLT	ISHARES TR	1,760,000	$152M	3.0%	—	—	CALL	464287432
DVN	DEVON ENERGY CORP NEW	2,102,988	$86.9M	1.7%	—	—	COM	25179M103
FSLR	FIRST SOLAR INC	365,000	$86.13M	1.7%	—	—	CALL	336433107
APD	AIR PRODUCTS AND CHEMICALS I	250,000	$73.3M	1.4%	—	—	PUT	009158106
XLU	SELECT SECTOR SPDR TR	1,500,000	$68.01M	1.3%	—	—	PUT	81369Y886
OKE	ONEOK INC NEW	750,000	$65.2M	1.3%	—	—	PUT	682680103
FSLR	FIRST SOLAR INC	272,379	$64.27M	1.3%	—	—	COM	336433107
MTZ	MASTEC INC	150,000	$62.41M	1.2%	—	—	PUT	576323109
AEP	AMERICAN ELEC PWR CO INC	412,431	$56.42M	1.1%	—	—	COM	025537101
LGN	LEGENCE CORP	627,256	$53.46M	1.1%	—	—	CL A	52476L109
KNTK	KINETIK HOLDINGS INC	1,002,184	$48.45M	1.0%	—	—	COM NEW CL A	02215L209
NEE	NEXTERA ENERGY INC	500,000	$43.88M	0.9%	—	—	PUT	65339F101
FCX	FREEPORT MCMORAN INC	691,546	$43.49M	0.9%	—	—	CL B	35671D857
FDXF	FEDEX FGHT HLDG CO INC	277,234	$41.86M	0.8%	—	—	COMMON STOCK	314352105
AR	ANTERO RESOURCES CORP	1,184,416	$41.62M	0.8%	—	—	COM	03674X106
NBIS	NEBIUS GROUP N.V.	146,543	$40.47M	0.8%	—	—	SHS CLASS A	N97284108
RRX	REGAL REXNORD CORPORATION	163,233	$38.88M	0.8%	—	—	COM	758750103
LNG	CHENIERE ENERGY INC	160,123	$38.27M	0.8%	—	—	COM NEW	16411R208
NSC	NORFOLK SOUTHN CORP	119,479	$37.59M	0.7%	—	—	COM	655844108
STM	STMICROELECTRONICS N V	495,223	$37.09M	0.7%	—	—	NY REGISTRY	861012102
PRIM	PRIMORIS SVCS CORP	366,972	$36.37M	0.7%	—	—	COM	74164F103
ATI	ATI INC	180,204	$35.52M	0.7%	—	—	COM	01741R102
CMI	CUMMINS INC	48,996	$34.94M	0.7%	—	—	COM	231021106
DPC	DPC HOLDINGS PLC	619,542	$30.02M	0.6%	—	—	ORDINARY SHARES	G2R11M108
UNP	UNION PAC CORP	108,219	$29.44M	0.6%	—	—	COM	907818108
DE	DEERE & CO	44,193	$28.03M	0.6%	—	—	COM	244199105
CIFR	CIPHER DIGITAL INC	1,091,463	$26.74M	0.5%	—	—	COM	17253J106
VLO	VALERO ENERGY CORP	101,156	$26.35M	0.5%	—	—	COM	91913Y100
NFG	NATIONAL FUEL GAS CO	300,000	$23.16M	0.5%	—	—	CALL	636180101
CLF	CLEVELAND-CLIFFS INC NEW	2,345,191	$22.02M	0.4%	—	—	COM	185899101
SOLS	SOLSTICE ADVANCED MATLS INC	209,487	$18.56M	0.4%	—	—	COM SHS	83443Q103
MGEE	MGE ENERGY INC	200,000	$16.31M	0.3%	—	—	COM	55277P104
VST	VISTRA CORP	100,000	$15.86M	0.3%	—	—	PUT	92840M102
FRVO	FERVO ENERGY CO	500,000	$14.62M	0.3%	—	—	CL A COM	31556C106
KGS	KODIAK GAS SVCS INC	190,000	$14.27M	0.3%	—	—	COM	50012A108
ROK	ROCKWELL AUTOMATION INC	28,793	$14.25M	0.3%	—	—	COM	773903109
INIO	INNIO NV	350,000	$13.84M	0.3%	—	—	ORDINARY SHARES	N52A8C105
GLNG	GOLAR LNG LTD	262,547	$13.09M	0.3%	—	—	SHS	G9456A100
FTAI	FTAI AVIATION LTD	48,251	$13.05M	0.3%	—	—	SHS	G3730V105
PCT	PURECYCLE TECHNOLOGIES INC	1,566,684	$12.71M	0.3%	—	—	COM	74623V103
VG	VENTURE GLOBAL INC	1,031,000	$11.48M	0.2%	—	—	PUT	92333F101
EROK	EAGLEROCK LD LLC	535,716	$11.38M	0.2%	—	—	CL A SHS REP LTD	27005A105
CCJ	CAMECO CORP	100,000	$10.19M	0.2%	—	—	PUT	13321L108
SSMR	SUNSHINE SILVER MNG & REFNG	750,000	$9.915M	0.2%	—	—	COMMON STOCK	867866105
YSWY	YESWAY INC	437,375	$8.879M	0.2%	—	—	COM CL A	98585C100
TH	TARGET HOSPITALITY CORP	435,097	$8.859M	0.2%	—	—	COM	87615L107
NEXT	NEXTDECADE CORP	1,003,907	$7.569M	0.1%	—	—	COM	65342K105
XE	X-ENERGY INC	400,000	$7.344M	0.1%	—	—	COM CL A	98386P102
WTTR	SELECT WATER SOLUTIONS INC	331,852	$6.63M	0.1%	—	—	CL A COM	81617J301
CLF	CLEVELAND-CLIFFS INC NEW	700,000	$6.573M	0.1%	—	—	CALL	185899101
BTDR	BITDEER TECHNOLOGIES GROUP	401,909	$6.378M	0.1%	—	—	CL A ORD SHS	G11448100
AUR	AURORA INNOVATION INC	750,000	$5.115M	0.1%	—	—	CLASS A COM	051774107
—	PURECYCLE TECHNOLOGIES INC	5,000	$5.091M	0.1%	—	—	NOTE 4.750% 7/0	74623VAD5
CRGY	CRESCENT ENERGY COMPANY	400,211	$3.93M	0.1%	—	—	CL A COM	44952J104
EROC	EROCK INC	250,000	$3.625M	0.1%	—	—	CL A COM	296013105
QNT	QUANTINUUM INC	40,000	$3.27M	0.1%	—	—	CL A COM	74768A104
WULF	TERAWULF INC	125,000	$3.087M	0.1%	—	—	COM	88080T104
SPKL	SPARK I ACQUISITION CORP	156,250	$1.961M	0.0%	—	—	ORD SHS	G8316B100
SOC	SABLE OFFSHORE CORP	250,000	$770K	0.0%	—	—	COM SHS	78574H104

Increased Positions (37)

SPY STATE STR SPDR S&P 500 ETF T 28.4%

Value $1.441B (+173.6%) Shares 1,930,000 (+138.3%) Est. Cost — Unrealized —

ETR ENTERGY CORP NEW 1.4%

Value $70.75M (+232.2%) Shares 615,956 (+224.9%) Est. Cost — Unrealized —

TLN TALEN ENERGY CORP 1.5%

Value $74.41M (+194.5%) Shares 193,647 (+144.6%) Est. Cost — Unrealized —

WMB WILLIAMS COS INC 1.6%

Value $80.92M (+131.1%) Shares 1,088,549 (+126.2%) Est. Cost — Unrealized —

FPS FORGENT POWER SOLUTIONS INC 1.1%

Value $55.86M (+377.1%) Shares 1,000,000 (+150.0%) Est. Cost — Unrealized —

DINO HF SINCLAIR CORP 0.9%

Value $44.56M (+10589.2%) Shares 639,708 (+9475.0%) Est. Cost — Unrealized —

NI NISOURCE INC 1.6%

Value $83.2M (+43.5%) Shares 1,749,831 (+40.8%) Est. Cost — Unrealized —

NFG NATIONAL FUEL GAS CO 2.4%

Value $120M (+22.8%) Shares 1,559,618 (+49.5%) Est. Cost — Unrealized —

BKV BKV CORP 1.5%

Value $75.75M (+30.2%) Shares 2,768,719 (+35.7%) Est. Cost — Unrealized —

BKH BLACK HILLS CORP 0.7%

Value $34.11M (+99.2%) Shares 458,430 (+85.9%) Est. Cost — Unrealized —

OVV OVINTIV INC 1.6%

Value $81.11M (+24.6%) Shares 1,540,608 (+40.5%) Est. Cost — Unrealized —

PAGP PLAINS GP HLDGS L P 0.6%

Value $32.88M (+74.1%) Shares 1,354,670 (+74.1%) Est. Cost — Unrealized —

SR SPIRE INC 0.4%

Value $20.73M (+204.6%) Shares 265,458 (+253.1%) Est. Cost — Unrealized —

DAR DARLING INGREDIENTS INC 0.4%

Value $19.66M (+232.1%) Shares 359,999 (+276.1%) Est. Cost — Unrealized —

DTM DT MIDSTREAM INC 0.7%

Value $37.91M (+50.5%) Shares 258,344 (+38.1%) Est. Cost — Unrealized —

DUK DUKE ENERGY CORP NEW 1.1%

Value $56.88M (+28.6%) Shares 449,340 (+33.0%) Est. Cost — Unrealized —

EQT EQT CORP 0.7%

Value $37.73M (+28.6%) Shares 709,535 (+53.9%) Est. Cost — Unrealized —

EE EXCELERATE ENERGY INC 0.3%

Value $14.83M (+125.3%) Shares 390,353 (+98.2%) Est. Cost — Unrealized —

DTE DTE ENERGY CO 0.9%

Value $45.4M (+21.5%) Shares 297,977 (+16.6%) Est. Cost — Unrealized —

VST VISTRA CORP 1.5%

Value $74.63M (+9.9%) Shares 470,483 (+4.2%) Est. Cost — Unrealized —

TBN TAMBORAN RES CORP 0.4%

Value $20.27M (-24.2%) Shares 623,534 (+16.5%) Est. Cost — Unrealized —

TAC TRANSALTA CORP 0.6%

Value $28.57M (+21.5%) Shares 2,065,064 (+15.5%) Est. Cost — Unrealized —

COP CONOCOPHILLIPS 0.5%

Value $22.92M (-17.3%) Shares 220,427 (+5.0%) Est. Cost — Unrealized —

CVE CENOVUS ENERGY INC 1.4%

Value $71.74M (-5.5%) Shares 2,891,599 (+1.1%) Est. Cost — Unrealized —

TRGP TARGA RES CORP 0.7%

Value $36.84M (+12.3%) Shares 137,392 (+5.0%) Est. Cost — Unrealized —

MWH SOLV ENERGY INC 0.5%

Value $25.54M (+17.3%) Shares 750,000 (+3.4%) Est. Cost — Unrealized —

PEG PUBLIC SVC ENTERPRISE GROUP 1.1%

Value $57.3M (+6.3%) Shares 706,023 (+6.0%) Est. Cost — Unrealized —

B BARRICK MNG CORP 0.4%

Value $21.79M (+13.5%) Shares 593,232 (+26.1%) Est. Cost — Unrealized —

PR PERMIAN RESOURCES CORP 1.2%

Value $61.99M (-3.8%) Shares 3,367,361 (+11.4%) Est. Cost — Unrealized —

CENX CENTURY ALUM CO 0.2%

Value $10.3M (-16.9%) Shares 223,861 (+6.0%) Est. Cost — Unrealized —

TECK TECK RESOURCES LTD 0.2%

Value $7.637M (+20.6%) Shares 128,432 (+5.0%) Est. Cost — Unrealized —

INR INFINITY NAT RES INC 0.2%

Value $8.309M (-13.3%) Shares 654,255 (+20.2%) Est. Cost — Unrealized —

VNOM VIPER ENERGY INC 0.5%

Value $23.55M (+5.0%) Shares 555,319 (+16.4%) Est. Cost — Unrealized —

NWE NORTHWESTERN ENERGY GROUP IN 0.2%

Value $7.888M (+14.0%) Shares 110,131 (+5.0%) Est. Cost — Unrealized —

AWK AMERICAN WTR WKS CO INC NEW 0.9%

Value $43.87M (+1.4%) Shares 333,442 (+4.9%) Est. Cost — Unrealized —

OPAL OPAL FUELS INC 0.0%

Value $1.782M (-9.4%) Shares 810,183 (+3.8%) Est. Cost — Unrealized —

CDLR CADELER A S 0.0%

Value $2.219M (-1.9%) Shares 101,284 (+5.4%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SPY	STATE STR SPDR S&P 500 ETF T	1,930,000 (+138.3%)	$1.441B (+173.6%)	28.4%	—	—	PUT	78462F103
ETR	ENTERGY CORP NEW	615,956 (+224.9%)	$70.75M (+232.2%)	1.4%	—	—	COM	29364G103
TLN	TALEN ENERGY CORP	193,647 (+144.6%)	$74.41M (+194.5%)	1.5%	—	—	COM	87422Q109
WMB	WILLIAMS COS INC	1,088,549 (+126.2%)	$80.92M (+131.1%)	1.6%	—	—	COM	969457100
FPS	FORGENT POWER SOLUTIONS INC	1,000,000 (+150.0%)	$55.86M (+377.1%)	1.1%	—	—	COM SHS CL A	34631F102
DINO	HF SINCLAIR CORP	639,708 (+9475.0%)	$44.56M (+10589.2%)	0.9%	—	—	COM	403949100
NI	NISOURCE INC	1,749,831 (+40.8%)	$83.2M (+43.5%)	1.6%	—	—	COM	65473P105
NFG	NATIONAL FUEL GAS CO	1,559,618 (+49.5%)	$120M (+22.8%)	2.4%	—	—	COM	636180101
BKV	BKV CORP	2,768,719 (+35.7%)	$75.75M (+30.2%)	1.5%	—	—	COM	05603J108
BKH	BLACK HILLS CORP	458,430 (+85.9%)	$34.11M (+99.2%)	0.7%	—	—	COM	092113109
OVV	OVINTIV INC	1,540,608 (+40.5%)	$81.11M (+24.6%)	1.6%	—	—	COM	69047Q102
PAGP	PLAINS GP HLDGS L P	1,354,670 (+74.1%)	$32.88M (+74.1%)	0.6%	—	—	LTD PARTNR INT A	72651A207
SR	SPIRE INC	265,458 (+253.1%)	$20.73M (+204.6%)	0.4%	—	—	COM	84857L101
DAR	DARLING INGREDIENTS INC	359,999 (+276.1%)	$19.66M (+232.1%)	0.4%	—	—	COM	237266101
DTM	DT MIDSTREAM INC	258,344 (+38.1%)	$37.91M (+50.5%)	0.7%	—	—	COMMON STOCK	23345M107
DUK	DUKE ENERGY CORP NEW	449,340 (+33.0%)	$56.88M (+28.6%)	1.1%	—	—	COM NEW	26441C204
EQT	EQT CORP	709,535 (+53.9%)	$37.73M (+28.6%)	0.7%	—	—	COM	26884L109
EE	EXCELERATE ENERGY INC	390,353 (+98.2%)	$14.83M (+125.3%)	0.3%	—	—	CL A COM	30069T101
DTE	DTE ENERGY CO	297,977 (+16.6%)	$45.4M (+21.5%)	0.9%	—	—	COM	233331107
VST	VISTRA CORP	470,483 (+4.2%)	$74.63M (+9.9%)	1.5%	—	—	COM	92840M102
TBN	TAMBORAN RES CORP	623,534 (+16.5%)	$20.27M (-24.2%)	0.4%	—	—	COM	87507T101
TAC	TRANSALTA CORP	2,065,064 (+15.5%)	$28.57M (+21.5%)	0.6%	—	—	COM	89346D107
COP	CONOCOPHILLIPS	220,427 (+5.0%)	$22.92M (-17.3%)	0.5%	—	—	COM	20825C104
CVE	CENOVUS ENERGY INC	2,891,599 (+1.1%)	$71.74M (-5.5%)	1.4%	—	—	COM	15135U109
TRGP	TARGA RES CORP	137,392 (+5.0%)	$36.84M (+12.3%)	0.7%	—	—	COM	87612G101
MWH	SOLV ENERGY INC	750,000 (+3.4%)	$25.54M (+17.3%)	0.5%	—	—	COM SHS CL A	78475V103
PEG	PUBLIC SVC ENTERPRISE GROUP	706,023 (+6.0%)	$57.3M (+6.3%)	1.1%	—	—	COM	744573106
B	BARRICK MNG CORP	593,232 (+26.1%)	$21.79M (+13.5%)	0.4%	—	—	COM SHS	06849F108
PR	PERMIAN RESOURCES CORP	3,367,361 (+11.4%)	$61.99M (-3.8%)	1.2%	—	—	CLASS A COM	71424F105
CENX	CENTURY ALUM CO	223,861 (+6.0%)	$10.3M (-16.9%)	0.2%	—	—	COM	156431108
TECK	TECK RESOURCES LTD	128,432 (+5.0%)	$7.637M (+20.6%)	0.2%	—	—	CL B	878742204
INR	INFINITY NAT RES INC	654,255 (+20.2%)	$8.309M (-13.3%)	0.2%	—	—	COM CL A	456941103
VNOM	VIPER ENERGY INC	555,319 (+16.4%)	$23.55M (+5.0%)	0.5%	—	—	CL A	64361Q101
NWE	NORTHWESTERN ENERGY GROUP IN	110,131 (+5.0%)	$7.888M (+14.0%)	0.2%	—	—	COM NEW	668074305
AWK	AMERICAN WTR WKS CO INC NEW	333,442 (+4.9%)	$43.87M (+1.4%)	0.9%	—	—	COM	030420103
OPAL	OPAL FUELS INC	810,183 (+3.8%)	$1.782M (-9.4%)	0.0%	—	—	CLASS A COM	68347P103
CDLR	CADELER A S	101,284 (+5.4%)	$2.219M (-1.9%)	0.0%	—	—	SPON ADR	12738K109

Exited Positions (33)

XOM EXXON MOBIL CORP 2.8%

Value $141M Shares 833,200 Est. Cost — Unrealized —

SPY STATE STR SPDR S&P 500 ETF T 2.6%

Value $130M Shares 200,000 Est. Cost — Unrealized —

APH AMPHENOL CORP 2.0%

Value $101M Shares 800,000 Est. Cost — Unrealized —

CTRA COTERRA ENERGY INC 1.9%

Value $95.26M Shares 2,710,826 Est. Cost — Unrealized —

AWK AMERICAN WTR WKS CO INC NEW 1.3%

Value $68.05M Shares 500,000 Est. Cost — Unrealized —

TEL TE CONNECTIVITY PLC 1.3%

Value $66.74M Shares 319,300 Est. Cost — Unrealized —

TRP TC ENERGY CORP 0.9%

Value $43.23M Shares 690,366 Est. Cost — Unrealized —

PBF PBF ENERGY INC 0.8%

Value $42.86M Shares 900,000 Est. Cost — Unrealized —

CSX CSX CORP 0.8%

Value $41.05M Shares 1,000,000 Est. Cost — Unrealized —

CMS CMS ENERGY CORP 0.7%

Value $35.11M Shares 452,563 Est. Cost — Unrealized —

PNW PINNACLE WEST CAP CORP 0.6%

Value $30.73M Shares 304,982 Est. Cost — Unrealized —

CNP CENTERPOINT ENERGY INC 0.6%

Value $28.38M Shares 657,493 Est. Cost — Unrealized —

MTDR MATADOR RES CO 0.5%

Value $24.63M Shares 389,909 Est. Cost — Unrealized —

FTI TECHNIPFMC PLC 0.5%

Value $23.82M Shares 344,594 Est. Cost — Unrealized —

LYB LYONDELLBASELL INDUSTRIES NV 0.4%

Value $22.73M Shares 282,151 Est. Cost — Unrealized —

ETR ENTERGY CORP NEW 0.4%

Value $22.47M Shares 200,000 Est. Cost — Unrealized —

KEX KIRBY CORP 0.4%

Value $22M Shares 165,540 Est. Cost — Unrealized —

IDA IDACORP INC 0.3%

Value $16.11M Shares 112,690 Est. Cost — Unrealized —

NEXT NEXTDECADE CORP 0.3%

Value $15.8M Shares 2,062,800 Est. Cost — Unrealized —

OGE OGE ENERGY CORP 0.3%

Value $15.3M Shares 319,071 Est. Cost — Unrealized —

HBM HUDBAY MINERALS INC 0.3%

Value $13.63M Shares 652,285 Est. Cost — Unrealized —

WLK WESTLAKE CORPORATION 0.2%

Value $12.5M Shares 107,044 Est. Cost — Unrealized —

SARO STANDARDAERO INC 0.2%

Value $11.87M Shares 459,407 Est. Cost — Unrealized —

CNR CORE NATURAL RESOURCES INC 0.2%

Value $11.85M Shares 113,192 Est. Cost — Unrealized —

MDU MDU RES GROUP INC 0.2%

Value $11.36M Shares 548,025 Est. Cost — Unrealized —

NXT NEXTPOWER INC 0.2%

Value $11.22M Shares 93,110 Est. Cost — Unrealized —

CWEN/A CLEARWAY ENERGY INC 0.2%

Value $10.88M Shares 277,870 Est. Cost — Unrealized —

FLOC FLOWCO HLDGS INC 0.2%

Value $9.364M Shares 454,545 Est. Cost — Unrealized —

POR PORTLAND GEN ELEC CO 0.2%

Value $9.235M Shares 175,000 Est. Cost — Unrealized —

CORZ CORE SCIENTIFIC INC NEW 0.2%

Value $7.739M Shares 517,302 Est. Cost — Unrealized —

CC CHEMOURS CO 0.1%

Value $5.973M Shares 271,134 Est. Cost — Unrealized —

SEDG SOLAREDGE TECHNOLOGIES INC 0.0%

Value $1.549M Shares 30,341 Est. Cost — Unrealized —

ASPI ASP ISOTOPES INC 0.0%

Value $1.326M Shares 300,000 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
XOM	EXXON MOBIL CORP	833,200	$141M	2.8%	—	—	PUT	30231G102
SPY	STATE STR SPDR S&P 500 ETF T	200,000	$130M	2.6%	—	—	CALL	78462F103
APH	AMPHENOL CORP	800,000	$101M	2.0%	—	—	PUT	032095101
CTRA	COTERRA ENERGY INC	2,710,826	$95.26M	1.9%	—	—	—	127097103
AWK	AMERICAN WTR WKS CO INC NEW	500,000	$68.05M	1.3%	—	—	CALL	030420103
TEL	TE CONNECTIVITY PLC	319,300	$66.74M	1.3%	—	—	PUT	G87052109
TRP	TC ENERGY CORP	690,366	$43.23M	0.9%	—	—	—	87807B107
PBF	PBF ENERGY INC	900,000	$42.86M	0.8%	—	—	PUT	69318G106
CSX	CSX CORP	1,000,000	$41.05M	0.8%	—	—	CALL	126408103
CMS	CMS ENERGY CORP	452,563	$35.11M	0.7%	—	—	—	125896100
PNW	PINNACLE WEST CAP CORP	304,982	$30.73M	0.6%	—	—	—	723484101
CNP	CENTERPOINT ENERGY INC	657,493	$28.38M	0.6%	—	—	—	15189T107
MTDR	MATADOR RES CO	389,909	$24.63M	0.5%	—	—	—	576485205
FTI	TECHNIPFMC PLC	344,594	$23.82M	0.5%	—	—	—	G87110105
LYB	LYONDELLBASELL INDUSTRIES NV	282,151	$22.73M	0.4%	—	—	—	N53745100
ETR	ENTERGY CORP NEW	200,000	$22.47M	0.4%	—	—	CALL	29364G103
KEX	KIRBY CORP	165,540	$22M	0.4%	—	—	—	497266106
IDA	IDACORP INC	112,690	$16.11M	0.3%	—	—	—	451107106
NEXT	NEXTDECADE CORP	2,062,800	$15.8M	0.3%	—	—	CALL	65342K105
OGE	OGE ENERGY CORP	319,071	$15.3M	0.3%	—	—	—	670837103
HBM	HUDBAY MINERALS INC	652,285	$13.63M	0.3%	—	—	—	443628102
WLK	WESTLAKE CORPORATION	107,044	$12.5M	0.2%	—	—	—	960413102
SARO	STANDARDAERO INC	459,407	$11.87M	0.2%	—	—	—	85423L103
CNR	CORE NATURAL RESOURCES INC	113,192	$11.85M	0.2%	—	—	—	218937100
MDU	MDU RES GROUP INC	548,025	$11.36M	0.2%	—	—	—	552690109
NXT	NEXTPOWER INC	93,110	$11.22M	0.2%	—	—	—	65290E101
CWEN/A	CLEARWAY ENERGY INC	277,870	$10.88M	0.2%	—	—	—	18539C105
FLOC	FLOWCO HLDGS INC	454,545	$9.364M	0.2%	—	—	—	342909108
POR	PORTLAND GEN ELEC CO	175,000	$9.235M	0.2%	—	—	—	736508847
CORZ	CORE SCIENTIFIC INC NEW	517,302	$7.739M	0.2%	—	—	—	21874A106
CC	CHEMOURS CO	271,134	$5.973M	0.1%	—	—	—	163851108
SEDG	SOLAREDGE TECHNOLOGIES INC	30,341	$1.549M	0.0%	—	—	—	83417M104
ASPI	ASP ISOTOPES INC	300,000	$1.326M	0.0%	—	—	—	00218A105

Decreased Positions (12)

COHR COHERENT CORP 0.1%

Value $7.156M (-74.3%) Shares 18,140 (-84.5%) Est. Cost — Unrealized —

SHEL SHELL PLC 0.4%

Value $22.5M (-41.2%) Shares 290,199 (-29.5%) Est. Cost — Unrealized —

AES AES CORP 0.4%

Value $19.4M (-42.5%) Shares 1,323,277 (-44.8%) Est. Cost — Unrealized —

CSX CSX CORP 0.9%

Value $43.2M (-22.2%) Shares 908,799 (-32.8%) Est. Cost — Unrealized —

AEE AMEREN CORP 0.6%

Value $32.11M (-27.5%) Shares 284,065 (-29.5%) Est. Cost — Unrealized —

LITE LUMENTUM HLDGS INC 0.1%

Value $5.951M (-61.8%) Shares 6,935 (-68.8%) Est. Cost — Unrealized —

TXNM TXNM ENERGY INC 0.1%

Value $4.759M (-53.4%) Shares 83,808 (-52.1%) Est. Cost — Unrealized —

HUT HUT 8 CORP 0.7%

Value $37.9M (-10.8%) Shares 328,319 (-63.8%) Est. Cost — Unrealized —

KRP KIMBELL RTY PARTNERS LP 0.1%

Value $5.302M (-28.9%) Shares 364,866 (-29.2%) Est. Cost — Unrealized —

WOLF WOLFSPEED INC 0.1%

Value $2.964M (+136.9%) Shares 61,427 (-19.9%) Est. Cost — Unrealized —

HTO H2O AMERICA 1.0%

Value $51.77M (-1.5%) Shares 851,846 (-4.9%) Est. Cost — Unrealized —

XIFR XPLR INFRASTRUCTURE LP 0.5%

Value $22.97M (+1.4%) Shares 1,944,751 (-8.9%) Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
COHR	COHERENT CORP	18,140 (-84.5%)	$7.156M (-74.3%)	0.1%	—	—	COM	19247G107
SHEL	SHELL PLC	290,199 (-29.5%)	$22.5M (-41.2%)	0.4%	—	—	SPON ADS	780259305
AES	AES CORP	1,323,277 (-44.8%)	$19.4M (-42.5%)	0.4%	—	—	COM	00130H105
CSX	CSX CORP	908,799 (-32.8%)	$43.2M (-22.2%)	0.9%	—	—	COM	126408103
AEE	AMEREN CORP	284,065 (-29.5%)	$32.11M (-27.5%)	0.6%	—	—	COM	023608102
LITE	LUMENTUM HLDGS INC	6,935 (-68.8%)	$5.951M (-61.8%)	0.1%	—	—	COM	55024U109
TXNM	TXNM ENERGY INC	83,808 (-52.1%)	$4.759M (-53.4%)	0.1%	—	—	COM	69349H107
HUT	HUT 8 CORP	328,319 (-63.8%)	$37.9M (-10.8%)	0.7%	—	—	COM	44812J104
KRP	KIMBELL RTY PARTNERS LP	364,866 (-29.2%)	$5.302M (-28.9%)	0.1%	—	—	UNIT	49435R102
WOLF	WOLFSPEED INC	61,427 (-19.9%)	$2.964M (+136.9%)	0.1%	—	—	COMMON STOCK	97785W106
HTO	H2O AMERICA	851,846 (-4.9%)	$51.77M (-1.5%)	1.0%	—	—	COM	784305104
XIFR	XPLR INFRASTRUCTURE LP	1,944,751 (-8.9%)	$22.97M (+1.4%)	0.5%	—	—	COM UNIT PART IN	65341B106

Unchanged Positions (16)

BP BP PLC 0.7%

Value $34.84M Shares 942,850 Est. Cost — Unrealized —

EQNR EQUINOR ASA 0.3%

Value $15.7M Shares 500,000 Est. Cost — Unrealized —

USAR USA RARE EARTH INC 0.3%

Value $15.11M Shares 700,000 Est. Cost — Unrealized —

KRSP RICE ACQUISITION CORP 3 0.3%

Value $14.97M Shares 1,425,829 Est. Cost — Unrealized —

TLNCU TALON CAP CORP 0.2%

Value $10.49M Shares 1,000,000 Est. Cost — Unrealized —

KBON KARBON CAP PARTNERS CORP 0.3%

Value $14.85M Shares 1,470,000 Est. Cost — Unrealized —

ALUB ALUSSA ENERGY ACQUISIT CORP 0.2%

Value $11.04M Shares 1,100,080 Est. Cost — Unrealized —

CEPF CANTOR EQUITY PARTNERS IV IN 0.1%

Value $3.246M Shares 312,094 Est. Cost — Unrealized —

KBONW KARBON CAP PARTNERS CORP 0.0%

Value $199K Shares 367,499 Est. Cost — Unrealized —

HCIC HENNESSY CAP INVTS CORP VIII 0.1%

Value $4.965M Shares 500,000 Est. Cost — Unrealized —

KRSP/WS RICE ACQUISITION CORP 3 0.0%

Value $235K Shares 237,637 Est. Cost — Unrealized —

HCICR HENNESSY CAP INVTS CORP VIII 0.0%

Value $80,500 Shares 500,000 Est. Cost — Unrealized —

ALUB/WS ALUSSA ENERGY ACQUISIT CORP 0.0%

Value $146K Shares 366,666 Est. Cost — Unrealized —

CEPV CANTOR EQUITY PARTNERS V INC 0.0%

Value $106K Shares 10,251 Est. Cost — Unrealized —

PAII/WS PYROPHYTE ACQUISITION CORP. 0.0%

Value $5,177 Shares 10,354 Est. Cost — Unrealized —

PAII PYROPHYTE ACQUISITION CORP. 0.0%

Value $211K Shares 20,708 Est. Cost — Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
BP	BP PLC	942,850	$34.84M	0.7%	—	—	SPONSORED ADR	055622104
EQNR	EQUINOR ASA	500,000	$15.7M	0.3%	—	—	PUT	29446M102
USAR	USA RARE EARTH INC	700,000	$15.11M	0.3%	—	—	COM	91733P107
KRSP	RICE ACQUISITION CORP 3	1,425,829	$14.97M	0.3%	—	—	ORD SHS CL A	G7553X106
TLNCU	TALON CAP CORP	1,000,000	$10.49M	0.2%	—	—	UNIT 08/27/2030	G86652115
KBON	KARBON CAP PARTNERS CORP	1,470,000	$14.85M	0.3%	—	—	ORD SHS CL A	G5225W100
ALUB	ALUSSA ENERGY ACQUISIT CORP	1,100,080	$11.04M	0.2%	—	—	ORD SHS CL A	G0233J100
CEPF	CANTOR EQUITY PARTNERS IV IN	312,094	$3.246M	0.1%	—	—	SHS CL A	G1828E100
KBONW	KARBON CAP PARTNERS CORP	367,499	$199K	0.0%	—	—	*W EXP 12/11/203	G5225W118
HCIC	HENNESSY CAP INVTS CORP VIII	500,000	$4.965M	0.1%	—	—	ORD CL A	G44055104
KRSP/WS	RICE ACQUISITION CORP 3	237,637	$235K	0.0%	—	—	*W EXP 99/99/999	G7553X114
HCICR	HENNESSY CAP INVTS CORP VIII	500,000	$80,500	0.0%	—	—	RIGHT 02/02/2031	G44055120
ALUB/WS	ALUSSA ENERGY ACQUISIT CORP	366,666	$146K	0.0%	—	—	*W EXP 99/99/999	G0233J118
CEPV	CANTOR EQUITY PARTNERS V INC	10,251	$106K	0.0%	—	—	SHS CL A S	G1828S109
PAII/WS	PYROPHYTE ACQUISITION CORP.	10,354	$5,177	0.0%	—	—	*W EXP 07/30/203	G7309T110
PAII	PYROPHYTE ACQUISITION CORP.	20,708	$211K	0.0%	—	—	CL A SHS	G7309T102