Yaupon Capital Management LP Hedge Fund

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
HYG	ISHARES TR	2,050,300	$165,316	6.0%	—	—	PUT	464288513
PSX	PHILLIPS 66	512,500	$66,133	2.4%	—	—	PUT	718546104
CRH	CRH PLC	505,713	$63,113	2.3%	$119.13	0.0%	ORD	G25508105
CTRA	COTERRA ENERGY INC	2,369,315	$62,360	2.3%	$25.10	0.0%	COM	127097103
CSX	CSX CORP	1,559,664	$56,538	2.0%	$35.70	0.0%	COM	126408103
NI	NISOURCE INC	1,192,609	$49,803	1.8%	$42.62	0.0%	COM	65473P105
ETN	EATON CORP PLC	152,500	$48,573	1.8%	—	—	PUT	G29183103
PWR	QUANTA SVCS INC	100,000	$42,206	1.5%	—	—	PUT	74762E102
FSLR	FIRST SOLAR INC	140,000	$36,572	1.3%	$200.14	+26.0%	PUT	336433107
ROK	ROCKWELL AUTOMATION INC	93,793	$36,492	1.3%	$375.21	0.0%	COM	773903109
NUE	NUCOR CORP	216,764	$35,356	1.3%	$149.77	0.0%	COM	670346105
TRGP	TARGA RES CORP	162,147	$29,916	1.1%	$168.08	0.0%	COM	87612G101
XEL	XCEL ENERGY INC	370,200	$27,343	1.0%	—	—	PUT	98389B100
HUT	HUT 8 CORP	536,522	$24,648	0.9%	$44.08	0.0%	COM	44812J104
MDU	MDU RES GROUP INC	1,200,000	$23,424	0.8%	$19.57	0.0%	COM	552690109
CF	CF INDS HLDGS INC	293,500	$22,699	0.8%	—	—	PUT	125269100
B	BARRICK MNG CORP	497,043	$21,646	0.8%	$37.42	0.0%	COM SHS	06849F108
NEXT	NEXTDECADE CORP	4,000,000	$21,080	0.8%	$6.57	-9.2%	CALL	65342K105
WFRD	WEATHERFORD INTL PLC	266,463	$20,853	0.8%	$72.59	0.0%	ORD SHS	G48833118
XME	SPDR SERIES TRUST	200,000	$20,722	0.7%	—	—	PUT	78464A755
ON	ON SEMICONDUCTOR CORP	353,580	$19,146	0.7%	$51.30	0.0%	COM	682189105
PEG	PUBLIC SVC ENTERPRISE GRP IN	235,282	$18,893	0.7%	$81.08	0.0%	COM	744573106
CWST	CASELLA WASTE SYS INC	192,855	$18,888	0.7%	$92.83	0.0%	CL A	147448104
CCJ	CAMECO CORP	205,000	$18,755	0.7%	$77.39	+16.2%	PUT	13321L108
L	LOEWS CORP	176,832	$18,622	0.7%	$103.22	0.0%	COM	540424108
TECK	TECK RESOURCES LTD	360,905	$17,284	0.6%	$43.32	0.0%	CL B	878742204
COHR	COHERENT CORP	89,187	$16,461	0.6%	$149.58	0.0%	COM	19247G107
DOW	DOW INC	700,000	$16,366	0.6%	—	—	PUT	260557103
KBONU	KARBON CAP PARTNERS CORP	1,470,000	$14,803	0.5%	$10.07	—	UNIT 12/11/2030	G5225W126
KRSP	RICE ACQUISITION CORP 3	1,425,829	$14,615	0.5%	$10.36	0.0%	ORD SHS CL A	G7553X106
SOLS	SOLSTICE ADVANCED MATLS INC	291,261	$14,149	0.5%	$47.08	0.0%	COM SHS	83443Q103
OGE	OGE ENERGY CORP	300,000	$12,810	0.5%	$44.60	0.0%	COM	670837103
ALUB/U	ALUSSA ENERGY ACQUISITION CO	1,100,000	$11,110	0.4%	$10.10	—	UNIT 99/99/9999	G0233J126
PTEN	PATTERSON-UTI ENERGY INC	1,617,799	$9,885	0.4%	$5.97	0.0%	COM	703481101
BKH	BLACK HILLS CORP	138,958	$9,646	0.3%	$66.47	0.0%	COM	092113109
TSLA	TESLA INC	19,593	$8,811	0.3%	$443.29	0.0%	COM	88160R101
WOLF	WOLFSPEED INC	449,973	$7,834	0.3%	$22.94	0.0%	COMMON STOCK	97785W106
CWEN/A	CLEARWAY ENERGY INC	229,398	$7,208	0.3%	$31.02	0.0%	CL A	18539C105
WMS	ADVANCED DRAIN SYS INC DEL	40,120	$5,811	0.2%	$144.68	0.0%	COM	00790R104
KNTK	KINETIK HOLDINGS INC	158,069	$5,698	0.2%	$36.12	0.0%	COM NEW CL A	02215L209
—	RAMACO RES INC	6,000	$5,099	0.2%	$849.80	—	NOTE 11/0	75134PAB1
HE	HAWAIIAN ELEC INDUSTRIES	413,497	$5,086	0.2%	$11.59	0.0%	COM	419870100
HTO	H2O AMERICA	99,884	$4,893	0.2%	$47.95	0.0%	COM	784305104
PPTA	PERPETUA RESOURCES CORP	190,481	$4,612	0.2%	$24.60	0.0%	COM	714266103
FTAI	FTAI AVIATION LTD	14,348	$2,824	0.1%	$170.24	0.0%	SHS	G3730V105
AEVA	AEVA TECHNOLOGIES INC	170,832	$2,269	0.1%	$14.24	0.0%	COM NEW	00835Q202
AUR	AURORA INNOVATION INC	489,855	$1,881	0.1%	$4.58	0.0%	CLASS A COM	051774107
METC	RAMACO RES INC	11,173	$201	0.0%	$26.27	0.0%	COM CL A	75134P600
KRSP/WS	RICE ACQUISITION CORP 3	237,637	$190	0.0%	$0.80	—	*W EXP 99/99/999	G7553X114
CEPV	CANTOR EQUITY PARTNERS V INC	10,251	$105	0.0%	$10.25	0.0%	SHS CL A S	G1828S109

Increased Positions (28)

NFG NATIONAL FUEL GAS CO 3.2%

Value ($000) $88,545 (+438.2%) Shares 1,105,979 (+521.0%) Est. Cost $80.11 Unrealized +2.8%

EQT EQT CORP 2.8%

Value ($000) $78,610 (+188.8%) Shares 1,466,600 (+193.3%) Est. Cost $45.69 Unrealized +22.8%

CVE CENOVUS ENERGY INC 2.7%

Value ($000) $73,548 (+33.6%) Shares 4,346,820 (+34.1%) Est. Cost $14.80 Unrealized +17.3%

OVV OVINTIV INC 2.4%

Value ($000) $65,886 (+33.3%) Shares 1,681,188 (+37.4%) Est. Cost $41.23 Unrealized -6.0%

MTZ MASTEC INC 0.9%

Value ($000) $25,431 (+182.7%) Shares 116,993 (+176.7%) Est. Cost $200.19 Unrealized +4.8%

CHRW C H ROBINSON WORLDWIDE INC 0.9%

Value ($000) $23,690 (+190.5%) Shares 147,360 (+139.2%) Est. Cost $134.42 Unrealized +9.6%

AEE AMEREN CORP 1.6%

Value ($000) $43,389 (+53.4%) Shares 434,497 (+60.4%) Est. Cost $89.41 Unrealized +14.1%

WWD WOODWARD INC 0.8%

Value ($000) $22,981 (+163.6%) Shares 76,017 (+120.4%) Est. Cost $262.56 Unrealized +4.7%

BKV BKV CORP 0.7%

Value ($000) $20,363 (+186.8%) Shares 750,000 (+144.3%) Est. Cost $23.10 Unrealized +8.7%

PR PERMIAN RESOURCES CORP 2.1%

Value ($000) $57,284 (+27.9%) Shares 4,082,966 (+16.7%) Est. Cost $13.97 Unrealized -3.9%

WMB WILLIAMS COS INC 1.6%

Value ($000) $44,538 (+30.1%) Shares 740,946 (+37.1%) Est. Cost $58.42 Unrealized +2.8%

TRP TC ENERGY CORP 2.3%

Value ($000) $62,932 (+18.5%) Shares 1,143,027 (+17.0%) Est. Cost $50.66 Unrealized +5.3%

HBM HUDBAY MINERALS INC 0.8%

Value ($000) $20,873 (+74.2%) Shares 1,051,553 (+33.0%) Est. Cost $8.82 Unrealized +91.8%

PBF PBF ENERGY INC 0.7%

Value ($000) $19,871 (+31.7%) Shares 732,700 (+46.5%) Est. Cost — Unrealized —

XIFR XPLR INFRASTRUCTURE LP 0.4%

Value ($000) $11,155 (+41.0%) Shares 1,115,540 (+43.4%) Est. Cost $10.78 Unrealized -10.1%

RIO RIO TINTO PLC 0.4%

Value ($000) $12,241 (+28.1%) Shares 152,955 (+5.7%) Est. Cost $66.76 Unrealized —

PNW PINNACLE WEST CAP CORP 1.6%

Value ($000) $45,375 (+4.6%) Shares 511,553 (+5.8%) Est. Cost $85.52 Unrealized +4.3%

INR INFINITY NAT RES INC 0.2%

Value ($000) $6,884 (+40.7%) Shares 467,360 (+25.2%) Est. Cost $17.48 Unrealized -25.0%

TXNM TXNM ENERGY INC 0.6%

Value ($000) $15,319 (+9.9%) Shares 260,165 (+5.6%) Est. Cost $48.20 Unrealized +19.7%

TBN TAMBORAN RES CORP 0.5%

Value ($000) $14,038 (+10.1%) Shares 515,544 (+10.7%) Est. Cost $20.73 Unrealized +22.6%

SOC SABLE OFFSHORE CORP 0.1%

Value ($000) $4,052 (+16.0%) Shares 449,215 (+124.6%) Est. Cost $16.65 Unrealized -43.3%

KRP KIMBELL RTY PARTNERS LP 0.2%

Value ($000) $5,840 (-8.6%) Shares 496,638 (+4.8%) Est. Cost $13.87 Unrealized —

OR OR ROYALTIES INC. 0.3%

Value ($000) $7,270 (-6.7%) Shares 205,228 (+5.6%) Est. Cost $24.92 Unrealized +40.6%

DUK DUKE ENERGY CORP NEW 1.9%

Value ($000) $52,037 (+0.7%) Shares 443,963 (+6.3%) Est. Cost $113.43 Unrealized +7.2%

OPAL OPAL FUELS INC 0.1%

Value ($000) $1,807 (+10.7%) Shares 767,234 (+3.4%) Est. Cost $6.36 Unrealized -62.1%

LB LANDBRIDGE COMPANY LLC 0.1%

Value ($000) $2,511 (+6.0%) Shares 51,258 (+15.4%) Est. Cost $55.55 Unrealized +4.7%

CEPF CANTOR EQUITY PARTNERS IV IN 0.1%

Value ($000) $3,184 (+4.1%) Shares 309,694 (+3.2%) Est. Cost $10.16 Unrealized +2.4%

EVRG EVERGY INC 0.6%

Value ($000) $15,227 (-0.7%) Shares 210,050 (+4.1%) Est. Cost $58.52 Unrealized +28.9%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NFG	NATIONAL FUEL GAS CO	1,105,979 (+521.0%)	$88,545 (+438.2%)	3.2%	$80.11	+2.8%	COM	636180101
EQT	EQT CORP	1,466,600 (+193.3%)	$78,610 (+188.8%)	2.8%	$45.69	+22.8%	CALL	26884L109
CVE	CENOVUS ENERGY INC	4,346,820 (+34.1%)	$73,548 (+33.6%)	2.7%	$14.80	+17.3%	COM	15135U109
OVV	OVINTIV INC	1,681,188 (+37.4%)	$65,886 (+33.3%)	2.4%	$41.23	-6.0%	COM	69047Q102
MTZ	MASTEC INC	116,993 (+176.7%)	$25,431 (+182.7%)	0.9%	$200.19	+4.8%	COM	576323109
CHRW	C H ROBINSON WORLDWIDE INC	147,360 (+139.2%)	$23,690 (+190.5%)	0.9%	$134.42	+9.6%	COM NEW	12541W209
AEE	AMEREN CORP	434,497 (+60.4%)	$43,389 (+53.4%)	1.6%	$89.41	+14.1%	COM	023608102
WWD	WOODWARD INC	76,017 (+120.4%)	$22,981 (+163.6%)	0.8%	$262.56	+4.7%	COM	980745103
BKV	BKV CORP	750,000 (+144.3%)	$20,363 (+186.8%)	0.7%	$23.10	+8.7%	COM	05603J108
PR	PERMIAN RESOURCES CORP	4,082,966 (+16.7%)	$57,284 (+27.9%)	2.1%	$13.97	-3.9%	CLASS A COM	71424F105
WMB	WILLIAMS COS INC	740,946 (+37.1%)	$44,538 (+30.1%)	1.6%	$58.42	+2.8%	COM	969457100
TRP	TC ENERGY CORP	1,143,027 (+17.0%)	$62,932 (+18.5%)	2.3%	$50.66	+5.3%	COM	87807B107
HBM	HUDBAY MINERALS INC	1,051,553 (+33.0%)	$20,873 (+74.2%)	0.8%	$8.82	+91.8%	COM	443628102
PBF	PBF ENERGY INC	732,700 (+46.5%)	$19,871 (+31.7%)	0.7%	—	—	PUT	69318G106
XIFR	XPLR INFRASTRUCTURE LP	1,115,540 (+43.4%)	$11,155 (+41.0%)	0.4%	$10.78	-10.1%	COM UNIT PART IN	65341B106
RIO	RIO TINTO PLC	152,955 (+5.7%)	$12,241 (+28.1%)	0.4%	$66.76	—	SPONSORED ADR	767204100
PNW	PINNACLE WEST CAP CORP	511,553 (+5.8%)	$45,375 (+4.6%)	1.6%	$85.52	+4.3%	COM	723484101
INR	INFINITY NAT RES INC	467,360 (+25.2%)	$6,884 (+40.7%)	0.2%	$17.48	-25.0%	COM CL A	456941103
TXNM	TXNM ENERGY INC	260,165 (+5.6%)	$15,319 (+9.9%)	0.6%	$48.20	+19.7%	COM	69349H107
TBN	TAMBORAN RES CORP	515,544 (+10.7%)	$14,038 (+10.1%)	0.5%	$20.73	+22.6%	COM	87507T101
SOC	SABLE OFFSHORE CORP	449,215 (+124.6%)	$4,052 (+16.0%)	0.1%	$16.65	-43.3%	COM SHS	78574H104
KRP	KIMBELL RTY PARTNERS LP	496,638 (+4.8%)	$5,840 (-8.6%)	0.2%	$13.87	—	UNIT	49435R102
OR	OR ROYALTIES INC.	205,228 (+5.6%)	$7,270 (-6.7%)	0.3%	$24.92	+40.6%	COM SHS	68390D106
DUK	DUKE ENERGY CORP NEW	443,963 (+6.3%)	$52,037 (+0.7%)	1.9%	$113.43	+7.2%	COM NEW	26441C204
OPAL	OPAL FUELS INC	767,234 (+3.4%)	$1,807 (+10.7%)	0.1%	$6.36	-62.1%	CLASS A COM	68347P103
LB	LANDBRIDGE COMPANY LLC	51,258 (+15.4%)	$2,511 (+6.0%)	0.1%	$55.55	+4.7%	CL A	514952100
CEPF	CANTOR EQUITY PARTNERS IV IN	309,694 (+3.2%)	$3,184 (+4.1%)	0.1%	$10.16	+2.4%	SHS CL A	G1828E100
EVRG	EVERGY INC	210,050 (+4.1%)	$15,227 (-0.7%)	0.6%	$58.52	+28.9%	COM	30034W106

Exited Positions (55)

EOG EOG RES INC 4.1%

Value ($000) $112,120 Shares 1,000,000 Est. Cost — Unrealized —

LNG CHENIERE ENERGY INC 2.0%

Value ($000) $54,046 Shares 230,002 Est. Cost $233.20 Unrealized -10.0%

HAL HALLIBURTON CO 1.7%

Value ($000) $47,886 Shares 1,946,600 Est. Cost $21.87 Unrealized +20.2%

CF CF INDS HLDGS INC 1.6%

Value ($000) $44,850 Shares 500,000 Est. Cost — Unrealized —

VST VISTRA CORP 1.6%

Value ($000) $44,082 Shares 225,000 Est. Cost $182.53 Unrealized -0.3%

FSLR FIRST SOLAR INC 1.4%

Value ($000) $38,281 Shares 173,588 Est. Cost $200.14 Unrealized +26.0%

AES AES CORP 1.2%

Value ($000) $34,127 Shares 2,593,200 Est. Cost $12.22 Unrealized +14.8%

HWM HOWMET AEROSPACE INC 1.1%

Value ($000) $31,478 Shares 160,416 Est. Cost $182.11 Unrealized +9.3%

CVX CHEVRON CORP NEW 1.1%

Value ($000) $29,537 Shares 190,203 Est. Cost $152.28 Unrealized -0.6%

TSLA TESLA INC 1.0%

Value ($000) $27,662 Shares 62,200 Est. Cost $443.29 Unrealized 0.0%

CNQ CANADIAN NAT RES LTD 1.0%

Value ($000) $26,308 Shares 822,752 Est. Cost $29.63 Unrealized +9.4%

LNT ALLIANT ENERGY CORP 0.9%

Value ($000) $25,923 Shares 384,559 Est. Cost $60.10 Unrealized +11.2%

RIG TRANSOCEAN LTD 0.9%

Value ($000) $25,740 Shares 8,250,000 Est. Cost $3.02 Unrealized +28.7%

XOP SPDR SERIES TRUST 0.9%

Value ($000) $25,118 Shares 190,000 Est. Cost — Unrealized —

SHW SHERWIN WILLIAMS CO 0.8%

Value ($000) $23,397 Shares 67,571 Est. Cost $346.02 Unrealized -3.4%

EOG EOG RES INC 0.8%

Value ($000) $22,424 Shares 200,000 Est. Cost — Unrealized —

IR INGERSOLL RAND INC 0.7%

Value ($000) $20,655 Shares 250,000 Est. Cost — Unrealized —

VLTO VERALTO CORP 0.7%

Value ($000) $18,263 Shares 171,302 Est. Cost $105.26 Unrealized -4.0%

ES EVERSOURCE ENERGY 0.6%

Value ($000) $17,649 Shares 248,083 Est. Cost $61.02 Unrealized +14.0%

DTM DT MIDSTREAM INC 0.6%

Value ($000) $17,439 Shares 154,243 Est. Cost $92.52 Unrealized +23.5%

CEG CONSTELLATION ENERGY CORP 0.6%

Value ($000) $17,097 Shares 51,957 Est. Cost $322.17 Unrealized +12.7%

ECL ECOLAB INC 0.6%

Value ($000) $16,806 Shares 61,366 Est. Cost $261.81 Unrealized +1.5%

SDRL SEADRILL LTD 0.6%

Value ($000) $15,644 Shares 517,848 Est. Cost $30.46 Unrealized +2.3%

SEI SOLARIS ENERGY INFRAS INC 0.5%

Value ($000) $14,137 Shares 353,700 Est. Cost $31.12 Unrealized +55.2%

PR PERMIAN RESOURCES CORP 0.5%

Value ($000) $13,181 Shares 1,029,800 Est. Cost $13.97 Unrealized -3.9%

VRT VERTIV HOLDINGS CO 0.5%

Value ($000) $13,171 Shares 87,307 Est. Cost $133.31 Unrealized +30.2%

CTRI CENTURI HOLDINGS INC 0.5%

Value ($000) $12,637 Shares 596,950 Est. Cost $21.22 Unrealized +5.4%

MIR MIRION TECHNOLOGIES INC 0.4%

Value ($000) $12,212 Shares 525,000 Est. Cost $21.62 Unrealized +15.4%

NRG NRG ENERGY INC 0.4%

Value ($000) $11,218 Shares 69,268 Est. Cost $155.26 Unrealized +6.5%

CCJ CAMECO CORP 0.3%

Value ($000) $9,184 Shares 109,519 Est. Cost $77.39 Unrealized +16.2%

WULF TERAWULF INC 0.3%

Value ($000) $8,824 Shares 772,695 Est. Cost $7.64 Unrealized +75.4%

NXT NEXTRACKER INC 0.3%

Value ($000) $8,792 Shares 118,822 Est. Cost $64.43 Unrealized +40.7%

FE FIRSTENERGY CORP 0.3%

Value ($000) $8,714 Shares 190,185 Est. Cost $36.91 Unrealized +23.9%

VAL VALARIS LTD 0.3%

Value ($000) $8,449 Shares 173,251 Est. Cost $48.77 Unrealized +10.0%

XPRO EXPRO GROUP HOLDINGS NV 0.3%

Value ($000) $8,163 Shares 687,085 Est. Cost $10.86 Unrealized +24.2%

LBRT LIBERTY ENERGY INC 0.3%

Value ($000) $7,535 Shares 610,588 Est. Cost $11.56 Unrealized +44.5%

SHLS SHOALS TECHNOLOGIES GROUP IN 0.3%

Value ($000) $7,410 Shares 1,000,000 Est. Cost $5.68 Unrealized +58.3%

GPOR GULFPORT ENERGY CORP 0.3%

Value ($000) $7,110 Shares 39,287 Est. Cost $186.01 Unrealized +7.2%

TE T1 ENERGY INC 0.2%

Value ($000) $6,615 Shares 3,034,500 Est. Cost — Unrealized —

BG BUNGE GLOBAL SA 0.2%

Value ($000) $5,970 Shares 73,475 Est. Cost $73.24 Unrealized +25.4%

CRC CALIFORNIA RES CORP 0.2%

Value ($000) $5,345 Shares 100,507 Est. Cost $49.44 Unrealized -4.6%

CRS CARPENTER TECHNOLOGY CORP 0.2%

Value ($000) $5,024 Shares 20,463 Est. Cost $217.46 Unrealized +38.2%

MSTR STRATEGY INC 0.2%

Value ($000) $4,898 Shares 15,200 Est. Cost — Unrealized —

BDC BELDEN INC 0.2%

Value ($000) $4,686 Shares 38,959 Est. Cost $125.80 Unrealized -7.3%

SR SPIRE INC 0.2%

Value ($000) $4,534 Shares 55,624 Est. Cost $81.52 Unrealized —

AGX ARGAN INC 0.2%

Value ($000) $4,381 Shares 16,223 Est. Cost $228.35 Unrealized +38.8%

ENPH ENPHASE ENERGY INC 0.1%

Value ($000) $3,731 Shares 105,418 Est. Cost $37.15 Unrealized -12.8%

FLS FLOWSERVE CORP 0.1%

Value ($000) $3,303 Shares 62,163 Est. Cost $46.53 Unrealized +37.7%

ATKR ATKORE INC 0.1%

Value ($000) $2,587 Shares 41,236 Est. Cost $64.34 Unrealized +0.5%

SOC SABLE OFFSHORE CORP 0.1%

Value ($000) $1,807 Shares 103,500 Est. Cost $16.65 Unrealized -43.3%

ATI ATI INC 0.0%

Value ($000) $1,289 Shares 15,844 Est. Cost $68.45 Unrealized +42.4%

EE EXCELERATE ENERGY INC 0.0%

Value ($000) $1,184 Shares 46,986 Est. Cost $27.85 Unrealized -3.0%

TXNM TXNM ENERGY INC 0.0%

Value ($000) $1,029 Shares 18,200 Est. Cost $48.20 Unrealized +19.7%

SEI SOLARIS ENERGY INFRAS INC 0.0%

Value ($000) $1,017 Shares 25,453 Est. Cost $31.12 Unrealized +55.2%

— GSR III ACQUISITION CORP 0.0%

Value ($000) $316 Shares 30,511 Est. Cost $10.77 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
EOG	EOG RES INC	1,000,000	$112,120	4.1%	—	—	PUT	26875P101
LNG	CHENIERE ENERGY INC	230,002	$54,046	2.0%	$233.20	-10.0%	—	16411R208
HAL	HALLIBURTON CO	1,946,600	$47,886	1.7%	$21.87	+20.2%	CALL	406216101
CF	CF INDS HLDGS INC	500,000	$44,850	1.6%	—	—	CALL	125269100
VST	VISTRA CORP	225,000	$44,082	1.6%	$182.53	-0.3%	—	92840M102
FSLR	FIRST SOLAR INC	173,588	$38,281	1.4%	$200.14	+26.0%	—	336433107
AES	AES CORP	2,593,200	$34,127	1.2%	$12.22	+14.8%	CALL	00130H105
HWM	HOWMET AEROSPACE INC	160,416	$31,478	1.1%	$182.11	+9.3%	—	443201108
CVX	CHEVRON CORP NEW	190,203	$29,537	1.1%	$152.28	-0.6%	—	166764100
TSLA	TESLA INC	62,200	$27,662	1.0%	$443.29	0.0%	PUT	88160R101
CNQ	CANADIAN NAT RES LTD	822,752	$26,308	1.0%	$29.63	+9.4%	—	136385101
LNT	ALLIANT ENERGY CORP	384,559	$25,923	0.9%	$60.10	+11.2%	—	018802108
RIG	TRANSOCEAN LTD	8,250,000	$25,740	0.9%	$3.02	+28.7%	—	H8817H100
XOP	SPDR SERIES TRUST	190,000	$25,118	0.9%	—	—	CALL	78468R556
SHW	SHERWIN WILLIAMS CO	67,571	$23,397	0.8%	$346.02	-3.4%	—	824348106
EOG	EOG RES INC	200,000	$22,424	0.8%	—	—	CALL	26875P101
IR	INGERSOLL RAND INC	250,000	$20,655	0.7%	—	—	PUT	45687V106
VLTO	VERALTO CORP	171,302	$18,263	0.7%	$105.26	-4.0%	—	92338C103
ES	EVERSOURCE ENERGY	248,083	$17,649	0.6%	$61.02	+14.0%	—	30040W108
DTM	DT MIDSTREAM INC	154,243	$17,439	0.6%	$92.52	+23.5%	—	23345M107
CEG	CONSTELLATION ENERGY CORP	51,957	$17,097	0.6%	$322.17	+12.7%	—	21037T109
ECL	ECOLAB INC	61,366	$16,806	0.6%	$261.81	+1.5%	—	278865100
SDRL	SEADRILL LTD	517,848	$15,644	0.6%	$30.46	+2.3%	—	G7997W102
SEI	SOLARIS ENERGY INFRAS INC	353,700	$14,137	0.5%	$31.12	+55.2%	PUT	83418M103
PR	PERMIAN RESOURCES CORP	1,029,800	$13,181	0.5%	$13.97	-3.9%	CALL	71424F105
VRT	VERTIV HOLDINGS CO	87,307	$13,171	0.5%	$133.31	+30.2%	—	92537N108
CTRI	CENTURI HOLDINGS INC	596,950	$12,637	0.5%	$21.22	+5.4%	—	155923105
MIR	MIRION TECHNOLOGIES INC	525,000	$12,212	0.4%	$21.62	+15.4%	—	60471A101
NRG	NRG ENERGY INC	69,268	$11,218	0.4%	$155.26	+6.5%	—	629377508
CCJ	CAMECO CORP	109,519	$9,184	0.3%	$77.39	+16.2%	—	13321L108
WULF	TERAWULF INC	772,695	$8,824	0.3%	$7.64	+75.4%	—	88080T104
NXT	NEXTRACKER INC	118,822	$8,792	0.3%	$64.43	+40.7%	—	65290E101
FE	FIRSTENERGY CORP	190,185	$8,714	0.3%	$36.91	+23.9%	—	337932107
VAL	VALARIS LTD	173,251	$8,449	0.3%	$48.77	+10.0%	—	G9460G101
XPRO	EXPRO GROUP HOLDINGS NV	687,085	$8,163	0.3%	$10.86	+24.2%	—	N3144W105
LBRT	LIBERTY ENERGY INC	610,588	$7,535	0.3%	$11.56	+44.5%	—	53115L104
SHLS	SHOALS TECHNOLOGIES GROUP IN	1,000,000	$7,410	0.3%	$5.68	+58.3%	CALL	82489W107
GPOR	GULFPORT ENERGY CORP	39,287	$7,110	0.3%	$186.01	+7.2%	—	402635502
TE	T1 ENERGY INC	3,034,500	$6,615	0.2%	—	—	PUT	35834F104
BG	BUNGE GLOBAL SA	73,475	$5,970	0.2%	$73.24	+25.4%	—	H11356104
CRC	CALIFORNIA RES CORP	100,507	$5,345	0.2%	$49.44	-4.6%	—	13057Q305
CRS	CARPENTER TECHNOLOGY CORP	20,463	$5,024	0.2%	$217.46	+38.2%	—	144285103
MSTR	STRATEGY INC	15,200	$4,898	0.2%	—	—	PUT	594972408
BDC	BELDEN INC	38,959	$4,686	0.2%	$125.80	-7.3%	—	077454106
SR	SPIRE INC	55,624	$4,534	0.2%	$81.52	—	—	84857L101
AGX	ARGAN INC	16,223	$4,381	0.2%	$228.35	+38.8%	—	04010E109
ENPH	ENPHASE ENERGY INC	105,418	$3,731	0.1%	$37.15	-12.8%	—	29355A107
FLS	FLOWSERVE CORP	62,163	$3,303	0.1%	$46.53	+37.7%	—	34354P105
ATKR	ATKORE INC	41,236	$2,587	0.1%	$64.34	+0.5%	—	047649108
SOC	SABLE OFFSHORE CORP	103,500	$1,807	0.1%	$16.65	-43.3%	PUT	78574H104
ATI	ATI INC	15,844	$1,289	0.0%	$68.45	+42.4%	—	01741R102
EE	EXCELERATE ENERGY INC	46,986	$1,184	0.0%	$27.85	-3.0%	—	30069T101
TXNM	TXNM ENERGY INC	18,200	$1,029	0.0%	$48.20	+19.7%	PUT	69349H107
SEI	SOLARIS ENERGY INFRAS INC	25,453	$1,017	0.0%	$31.12	+55.2%	—	83418M103
—	GSR III ACQUISITION CORP	30,511	$316	0.0%	$10.77	—	—	G4R103107

Decreased Positions (25)

VG VENTURE GLOBAL INC 0.5%

Value ($000) $13,836 (-80.8%) Shares 2,028,700 (-59.9%) Est. Cost — Unrealized —

AWK AMERICAN WTR WKS CO INC NEW 1.6%

Value ($000) $45,575 (-45.0%) Shares 349,233 (-41.3%) Est. Cost $138.47 Unrealized -3.8%

SPY SPDR S&P 500 ETF TR 4.7%

Value ($000) $129,565 (-22.2%) Shares 190,000 (-24.0%) Est. Cost — Unrealized —

AQN ALGONQUIN PWR UTILS CORP 0.2%

Value ($000) $5,330 (-83.1%) Shares 866,736 (-85.3%) Est. Cost $5.51 Unrealized +7.8%

CAT CATERPILLAR INC 0.5%

Value ($000) $14,689 (-62.6%) Shares 25,641 (-68.8%) Est. Cost $425.39 Unrealized +30.6%

EQT EQT CORP 1.2%

Value ($000) $31,932 (-39.8%) Shares 595,738 (-38.8%) Est. Cost $45.69 Unrealized +22.8%

SHEL SHELL PLC 1.8%

Value ($000) $49,139 (-29.4%) Shares 668,736 (-31.2%) Est. Cost $66.60 Unrealized —

ETR ENTERGY CORP NEW 0.9%

Value ($000) $24,950 (-42.9%) Shares 269,935 (-42.5%) Est. Cost $80.44 Unrealized +17.5%

MTDR MATADOR RES CO 1.1%

Value ($000) $30,833 (-35.9%) Shares 726,504 (-32.2%) Est. Cost $53.09 Unrealized -20.9%

NEXT NEXTDECADE CORP 0.2%

Value ($000) $6,503 (-71.5%) Shares 1,233,976 (-63.2%) Est. Cost $6.57 Unrealized -9.2%

WBI WATERBRIDGE INFRASTRUCTURE L 0.4%

Value ($000) $9,946 (-60.6%) Shares 497,046 (-50.3%) Est. Cost $23.45 Unrealized -1.0%

SHLS SHOALS TECHNOLOGIES GROUP IN 0.5%

Value ($000) $13,251 (-44.5%) Shares 1,558,888 (-51.6%) Est. Cost $5.68 Unrealized +58.3%

DINO HF SINCLAIR CORP 0.4%

Value ($000) $10,952 (-48.5%) Shares 237,671 (-41.5%) Est. Cost $46.72 Unrealized +9.8%

BP BP PLC 2.8%

Value ($000) $77,493 (-11.2%) Shares 2,231,295 (-11.9%) Est. Cost $31.38 Unrealized —

NSC NORFOLK SOUTHN CORP 0.3%

Value ($000) $8,779 (-51.3%) Shares 30,407 (-49.4%) Est. Cost $233.06 Unrealized +23.8%

IDA IDACORP INC 0.3%

Value ($000) $8,924 (-49.6%) Shares 70,513 (-47.3%) Est. Cost $115.85 Unrealized +12.3%

HAL HALLIBURTON CO 0.7%

Value ($000) $18,892 (-27.4%) Shares 668,506 (-36.8%) Est. Cost $21.87 Unrealized +20.2%

TALO TALOS ENERGY INC 0.1%

Value ($000) $2,204 (-71.7%) Shares 200,000 (-75.3%) Est. Cost — Unrealized —

DTE DTE ENERGY CO 1.4%

Value ($000) $37,492 (-11.1%) Shares 290,679 (-2.5%) Est. Cost $120.33 Unrealized +12.0%

TAC TRANSALTA CORP 0.6%

Value ($000) $16,327 (-14.3%) Shares 1,290,906 (-7.4%) Est. Cost $10.15 Unrealized +47.1%

KGS KODIAK GAS SVCS INC 0.9%

Value ($000) $24,165 (-9.8%) Shares 646,131 (-10.9%) Est. Cost $33.73 Unrealized +4.8%

CDLR CADELER A S 0.1%

Value ($000) $1,737 (-55.5%) Shares 93,451 (-50.6%) Est. Cost $23.73 Unrealized —

LGN LEGENCE CORP 0.6%

Value ($000) $17,208 (-10.6%) Shares 399,817 (-36.0%) Est. Cost $31.48 Unrealized +25.6%

NWE NORTHWESTERN ENERGY GROUP IN 0.2%

Value ($000) $6,494 (-4.2%) Shares 100,624 (-13.0%) Est. Cost $53.53 Unrealized +17.3%

FTI TECHNIPFMC PLC 1.5%

Value ($000) $42,030 (+0.3%) Shares 943,230 (-11.2%) Est. Cost $28.31 Unrealized +49.1%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VG	VENTURE GLOBAL INC	2,028,700 (-59.9%)	$13,836 (-80.8%)	0.5%	—	—	PUT	92333F101
AWK	AMERICAN WTR WKS CO INC NEW	349,233 (-41.3%)	$45,575 (-45.0%)	1.6%	$138.47	-3.8%	COM	030420103
SPY	SPDR S&P 500 ETF TR	190,000 (-24.0%)	$129,565 (-22.2%)	4.7%	—	—	PUT	78462F103
AQN	ALGONQUIN PWR UTILS CORP	866,736 (-85.3%)	$5,330 (-83.1%)	0.2%	$5.51	+7.8%	COM	015857105
CAT	CATERPILLAR INC	25,641 (-68.8%)	$14,689 (-62.6%)	0.5%	$425.39	+30.6%	COM	149123101
EQT	EQT CORP	595,738 (-38.8%)	$31,932 (-39.8%)	1.2%	$45.69	+22.8%	COM	26884L109
SHEL	SHELL PLC	668,736 (-31.2%)	$49,139 (-29.4%)	1.8%	$66.60	—	SPON ADS	780259305
ETR	ENTERGY CORP NEW	269,935 (-42.5%)	$24,950 (-42.9%)	0.9%	$80.44	+17.5%	COM	29364G103
MTDR	MATADOR RES CO	726,504 (-32.2%)	$30,833 (-35.9%)	1.1%	$53.09	-20.9%	COM	576485205
NEXT	NEXTDECADE CORP	1,233,976 (-63.2%)	$6,503 (-71.5%)	0.2%	$6.57	-9.2%	COM	65342K105
WBI	WATERBRIDGE INFRASTRUCTURE L	497,046 (-50.3%)	$9,946 (-60.6%)	0.4%	$23.45	-1.0%	CL A SHS REPSTG	940923105
SHLS	SHOALS TECHNOLOGIES GROUP IN	1,558,888 (-51.6%)	$13,251 (-44.5%)	0.5%	$5.68	+58.3%	CL A	82489W107
DINO	HF SINCLAIR CORP	237,671 (-41.5%)	$10,952 (-48.5%)	0.4%	$46.72	+9.8%	COM	403949100
BP	BP PLC	2,231,295 (-11.9%)	$77,493 (-11.2%)	2.8%	$31.38	—	SPONSORED ADR	055622104
NSC	NORFOLK SOUTHN CORP	30,407 (-49.4%)	$8,779 (-51.3%)	0.3%	$233.06	+23.8%	COM	655844108
IDA	IDACORP INC	70,513 (-47.3%)	$8,924 (-49.6%)	0.3%	$115.85	+12.3%	COM	451107106
HAL	HALLIBURTON CO	668,506 (-36.8%)	$18,892 (-27.4%)	0.7%	$21.87	+20.2%	COM	406216101
TALO	TALOS ENERGY INC	200,000 (-75.3%)	$2,204 (-71.7%)	0.1%	—	—	PUT	87484T108
DTE	DTE ENERGY CO	290,679 (-2.5%)	$37,492 (-11.1%)	1.4%	$120.33	+12.0%	COM	233331107
TAC	TRANSALTA CORP	1,290,906 (-7.4%)	$16,327 (-14.3%)	0.6%	$10.15	+47.1%	COM	89346D107
KGS	KODIAK GAS SVCS INC	646,131 (-10.9%)	$24,165 (-9.8%)	0.9%	$33.73	+4.8%	COM	50012A108
CDLR	CADELER A S	93,451 (-50.6%)	$1,737 (-55.5%)	0.1%	$23.73	—	SPON ADR	12738K109
LGN	LEGENCE CORP	399,817 (-36.0%)	$17,208 (-10.6%)	0.6%	$31.48	+25.6%	CL A	52476L109
NWE	NORTHWESTERN ENERGY GROUP IN	100,624 (-13.0%)	$6,494 (-4.2%)	0.2%	$53.53	+17.3%	COM NEW	668074305
FTI	TECHNIPFMC PLC	943,230 (-11.2%)	$42,030 (+0.3%)	1.5%	$28.31	+49.1%	COM	G87110105

Unchanged Positions (5)

AES AES CORP 2.3%

Value ($000) $62,486 Shares 4,357,456 Est. Cost $12.22 Unrealized +14.8%

CNP CENTERPOINT ENERGY INC 1.1%

Value ($000) $31,131 Shares 811,982 Est. Cost $37.44 Unrealized +3.8%

TLNCU TALON CAP CORP 0.4%

Value ($000) $10,260 Shares 1,000,000 Est. Cost $10.03 Unrealized —

PAII PYROPHYTE ACQUISITION CORP. 0.0%

Value ($000) $208 Shares 20,708 Est. Cost $9.94 Unrealized +1.3%

PAII/WS PYROPHYTE ACQUISITION CORP. 0.0%

Value ($000) $4 Shares 10,354 Est. Cost $0.35 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AES	AES CORP	4,357,456	$62,486	2.3%	$12.22	+14.8%	COM	00130H105
CNP	CENTERPOINT ENERGY INC	811,982	$31,131	1.1%	$37.44	+3.8%	COM	15189T107
TLNCU	TALON CAP CORP	1,000,000	$10,260	0.4%	$10.03	—	UNIT 08/27/2030	G86652115
PAII	PYROPHYTE ACQUISITION CORP.	20,708	$208	0.0%	$9.94	+1.3%	CL A SHS	G7309T102
PAII/WS	PYROPHYTE ACQUISITION CORP.	10,354	$4	0.0%	$0.35	—	*W EXP 07/30/203	G7309T110