CIK 2031590
Long positions in SEC Section 13(f) securities (US-listed stocks, ADRs and ETFs), largest first · Δ vs 2025-Q4. A lagged quarterly snapshot (filed ≤45 days after quarter-end); excludes shorts, options, cash, and shares listed only on non-US exchanges — foreign companies held via a US listing or ADR (e.g. Alibaba, TSMC) ARE included.
As filed = each book applied at its quarter-end (what the reported book did) · As copyable = applied at its statutory 45-day filing deadline (what a 13F follower could have earned).
Computing…
Hypothetical modeled performance constructed with hindsight — not actual results, and not indicative of future results. See the Disclaimer.
| Industry group | Weight | Names |
|---|---|---|
| Utilities | 68.21% | 6 |
| Metals & Mining | 16.12% | 2 |
| Oil, Gas & Consumable Fuels | 8.00% | 2 |
| Banks | 4.21% | 2 |
| Chemicals | 3.46% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | XIFR | XPLR Infrastructure, LP | Utilities | 18.78% |
| 2 | KGS | Kodiak Gas Services, Inc. | Utilities | 18.60% |
| 3 | VST | Vistra Corp. | Utilities | 10.47% |
| 4 | IE | Ivanhoe Electric Inc. | Materials | 10.21% |
| 5 | WMB | WILLIAMS COMPANIES, INC. | Utilities | 8.21% |
| 6 | AR | ANTERO RESOURCES Corp | Energy | 7.62% |
| 7 | NEXT | NextDecade Corp | Utilities | 7.15% |
| 8 | CCJ | CAMECO CORP | Materials | 5.91% |
| 9 | TLN | Talen Energy Corp | Utilities | 5.00% |
| 10 | CF | CF Industries Holdings, Inc. | Materials | 3.46% |
13/13 names classified · sector 100.0% of weight · industry 100.0% · mkt cap 94.1%; unclassified names shown, never dropped.
Sector is classified on each name's CURRENT fundamentals, not point-in-time — apparent sector drift can reflect the market re-rating a holding, not a manager trade. 13F is a lagged quarterly snapshot of long positions in US-listed securities only — foreign companies held via a US listing or ADR ARE included, but shares listed only on non-US exchanges (plus shorts, options and cash) are not. Latest quarter: 100.0% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 77.7% of book weight (8/13 names) · unclassified 22.3%: NEXT, CCJ, TLN, WULF, HUT. Size: cap 70/20/10 bands; style: value/growth composite on our own metrics — not Morningstar's model.
No contribution data for this period.
| # | Security | Shares | Value | Weight | Δ QoQ |
|---|---|---|---|---|---|
| 1 | XIFRXPLR INFRASTRUCTURE LP | 2,538,720 | $27M | 18.8% | ADD 21% |
| 2 | KGSKODIAK GAS SVCS INC | 458,000 | $27M | 18.6% | TRIM −58% |
| 3 | VSTVISTRA CORP | 100,000 | $15M | 10.5% | NEW |
| 4 | IEIVANHOE ELECTRIC INC | 1,240,225 | $15M | 10.2% | ADD 31% |
| 5 | WMBWILLIAMS COS INC | 162,000 | $12M | 8.2% | TRIM −51% |
| 6 | ARANTERO RESOURCES CORP | 257,862 | $11M | 7.6% | NEW |
| 7 | NEXTNEXTDECADE CORP | 1,339,723 | $10M | 7.1% | ADD 123% |
| 8 | CCJCAMECO CORP | 78,192 | $8M | 5.9% | TRIM −40% |
| 9 | TLNTALEN ENERGY CORP | 22,509 | $7M | 5.0% | ADD 125% |
| 10 | CFCF INDS HLDGS INC | 38,289 | $5M | 3.5% | NEW |
| 11 | WULFTERAWULF INC | 212,370 | $3M | 2.1% | NEW |
| 12 | HUTHUT 8 CORP | 63,534 | $3M | 2.1% | ADD 253% |
| 13 | BKVBKV CORP | 19,000 | $541,880 | 0.4% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| XIFRXPLR INFRASTRUCTURE LP | — | — | 753K | 1.5M | 2.1M | 2.5M | $27M |
| KGSKODIAK GAS SVCS INC | — | — | 200K | 420K | 1.1M | 458K | $27M |
| VSTVISTRA CORP | 86K | 136K | 142K | 142K | — | 100K | $15M |
| IEIVANHOE ELECTRIC INC | — | — | — | 500K | 950K | 1.2M | $15M |
| WMBWILLIAMS COS INC | — | — | 113K | 135K | 328K | 162K | $12M |
| ARANTERO RESOURCES CORP | — | — | — | — | — | 258K | $11M |
| NEXTNEXTDECADE CORP | — | — | — | — | 600K | 1.3M | $10M |
| CCJCAMECO CORP | 140K | — | 105K | — | 130K | 78K | $8M |
| TLNTALEN ENERGY CORP | 40K | 62K | 55K | 41K | 10K | 23K | $7M |
| CFCF INDS HLDGS INC | — | — | — | — | — | 38K | $5M |
| WULFTERAWULF INC | — | — | — | — | — | 212K | $3M |
| HUTHUT 8 CORP | — | — | — | 200K | 18K | 64K | $3M |
| BKVBKV CORP | — | — | — | — | — | 19K | $541,880 |
Shares reported each quarter by the largest current holdings. Green = added vs the prior filing of that name, red = trimmed, grey = roughly held; a dash is a quarter with no 13F on file (a gap is skipped, not read as an exit). 13F is filed up to 45 days after quarter-end. Up to 40 quarters (10 years) available — use the selector above.
