CIK 740913
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 | 71.86% | 39 |
| Metals & Mining | 6.51% | 5 |
| Equity Real Estate Investment Trusts (REITs) | 5.11% | 8 |
| Construction & Engineering | 3.87% | 3 |
| Oil, Gas & Consumable Fuels | 3.07% | 7 |
| Electrical Equipment & Components | 2.54% | 1 |
| Road & Rail | 1.90% | 3 |
| Technology Hardware & Equipment | 1.72% | 4 |
| Unclassified | 1.10% | 5 |
| Construction Materials | 0.61% | 1 |
| Communications Equipment | 0.49% | 1 |
| Diversified Telecommunication Services | 0.39% | 3 |
| Commercial Services & Supplies | 0.34% | 1 |
| Semiconductors & Semiconductor Equipment | 0.30% | 1 |
| Machinery | 0.11% | 2 |
| Chemicals | 0.04% | 2 |
| Tobacco | 0.02% | 2 |
| Pharmaceuticals & Biotechnology | 0.01% | 1 |
| Media & Entertainment | 0.01% | 1 |
| # | Ticker | Name | Sector | Weight |
|---|---|---|---|---|
| 1 | TLN | Talen Energy Corp | Utilities | 8.00% |
| 2 | CEG | Constellation Energy Corp | Utilities | 5.58% |
| 3 | VST | Vistra Corp. | Utilities | 5.23% |
| 4 | CNP | CENTERPOINT ENERGY INC | Utilities | 5.02% |
| 5 | XEL | XCEL ENERGY INC | Utilities | 4.68% |
| 6 | IDA | IDACORP INC | Utilities | 4.27% |
| 7 | ETR | ENTERGY CORP /DE/ | Utilities | 4.18% |
| 8 | LNT | ALLIANT ENERGY CORP | Utilities | 3.56% |
| 9 | SRE | SEMPRA | Utilities | 3.33% |
| 10 | NI | NISOURCE INC. | Utilities | 3.18% |
86/90 names classified · sector 99.0% of weight · industry 98.9% · mkt cap 96.6%; 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: 99.0% of the book is sector-classified (unclassified names shown, never dropped).
Classified: 80.2% of book weight (72/90 names) · unclassified 19.8%: TLN, EPD, MP, CCJ, CP, COHR, MPLX, USAR, , KRSP.U +8 more. 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 | TLNTALEN ENERGY CORP | 1,510,697 | $482M | 8.0% | HOLD |
| 2 | CEGCONSTELLATION ENERGY CORP | 1,203,513 | $336M | 5.6% | ADD 6% |
| 3 | VSTVISTRA CORP | 2,094,547 | $315M | 5.2% | TRIM −5% |
| 4 | CNPCENTERPOINT ENERGY INC | 7,003,120 | $302M | 5.0% | TRIM −9% |
| 5 | XELXCEL ENERGY INC | 3,548,909 | $282M | 4.7% | HOLD |
| 6 | IDAIDACORP INC | 1,800,478 | $257M | 4.3% | HOLD |
| 7 | ETRENTERGY CORP NEW | 2,242,772 | $252M | 4.2% | TRIM −8% |
| 8 | LNTALLIANT ENERGY CORP | 2,993,426 | $215M | 3.6% | TRIM −2% |
| 9 | SRESEMPRA | 2,068,019 | $201M | 3.3% | TRIM −3% |
| 10 | NINISOURCE INC | 4,112,345 | $192M | 3.2% | TRIM −24% |
| 11 | EQIXEQUINIX INC | 173,816 | $170M | 2.8% | ADD 3% |
| 12 | CMSCMS ENERGY CORP | 2,114,254 | $164M | 2.7% | HOLD |
| 13 | GEVGE VERNOVA INC | 175,052 | $153M | 2.5% | ADD 138% |
| 14 | WMBWILLIAMS COS INC | 2,089,760 | $152M | 2.5% | ADD 61% |
| 15 | PPLPPL CORP | 3,706,113 | $142M | 2.3% | TRIM −16% |
| 16 | PWRQUANTA SVCS INC | 250,284 | $137M | 2.3% | TRIM −8% |
| 17 | EPDENTERPRISE PRODS PARTNERS L | 3,493,940 | $132M | 2.2% | HOLD |
| 18 | MPMP MATERIALS CORP | 2,608,770 | $126M | 2.1% | HOLD |
| 19 | DTMDT MIDSTREAM INC | 932,483 | $126M | 2.1% | ADD 22% |
| 20 | CCJCAMECO CORP | 1,126,885 | $122M | 2.0% | TRIM −22% |
| 21 | NEENEXTERA ENERGY INC | 1,316,141 | $122M | 2.0% | HOLD |
| 22 | AEEAMEREN CORP | 1,072,573 | $118M | 2.0% | HOLD |
| 23 | PNWPINNACLE WEST CAP CORP | 1,078,046 | $109M | 1.8% | TRIM −37% |
| 24 | NRGNRG ENERGY INC | 734,285 | $107M | 1.8% | ADD 28% |
| 25 | GLWCORNING INC | 763,193 | $104M | 1.7% | HOLD |
| 26 | CPCANADIAN PACIFIC KANSAS CITY | 1,078,191 | $85M | 1.4% | ADD 13063% |
| 27 | DYDYCOM INDS INC | 248,140 | $84M | 1.4% | ADD 73% |
| 28 | OGEOGE ENERGY CORP | 1,603,609 | $77M | 1.3% | TRIM −18% |
| 29 | EQTEQT CORP | 1,089,757 | $69M | 1.2% | TRIM −6% |
| 30 | WECWEC ENERGY GROUP INC | 562,957 | $65M | 1.1% | ADD 49% |
| 31 | SBACSBA COMMUNICATIONS CORP NEW | 322,464 | $55M | 0.9% | TRIM −11% |
| 32 | MPCMARATHON PETE CORP | 220,615 | $54M | 0.9% | ADD 32% |
| 33 | ANETARISTA NETWORKS INC | 415,240 | $51M | 0.8% | ADD 1679% |
| 34 | COHRCOHERENT CORP | 205,831 | $49M | 0.8% | ADD 692% |
| 35 | DTEDTE ENERGY CO | 323,705 | $47M | 0.8% | TRIM −22% |
| 36 | AEPAMERICAN ELEC PWR CO INC | 344,722 | $45M | 0.7% | NEW |
| 37 | MPLXMPLX LP | 670,500 | $38M | 0.6% | HOLD |
| 38 | LEUCENTRUS ENERGY CORP | 211,918 | $37M | 0.6% | ADD 21% |
| 39 | USARUSA RARE EARTH INC | 2,320,000 | $35M | 0.6% | NEW |
| 40 | NFGNATIONAL FUEL GAS CO | 314,465 | $30M | 0.5% | NEW |
| 41 | LITELUMENTUM HLDGS INC | 41,815 | $29M | 0.5% | ADD 104% |
| 42 | X-ENERGY REACTOR CO. LLC SERIE | 1,891,802 | $27M | 0.5% | HOLD |
| 43 | KRSP.URICE ACQUISITION CORP 3 | 2,400,000 | $25M | 0.4% | HOLD |
| 44 | CCICROWN CASTLE INC | 287,589 | $23M | 0.4% | TRIM −12% |
| 45 | TMUST-MOBILE US INC | 106,969 | $22M | 0.4% | TRIM −29% |
| 46 | IRMIRON MTN INC DEL | 213,549 | $22M | 0.4% | ADD 296% |
| 47 | TICTIC SOLUTIONS INC | 3,076,170 | $20M | 0.3% | ADD 43% |
| 48 | VRTVERTIV HOLDINGS CO | 72,880 | $18M | 0.3% | TRIM −12% |
| 49 | PEGPUBLIC SVC ENTERPRISE GROUP | 215,103 | $17M | 0.3% | TRIM −62% |
| 50 | DLRDIGITAL RLTY TR INC | 94,022 | $17M | 0.3% | HOLD |
| 51 | AMTAMERICAN TOWER CORP | 98,037 | $17M | 0.3% | HOLD |
| 52 | UNPUNION PAC CORP | 67,160 | $16M | 0.3% | TRIM −16% |
| 53 | ODFLOLD DOMINION FREIGHT LINE IN | 69,200 | $14M | 0.2% | ADD 1548% |
| 54 | UTLUNITIL CORP | 248,275 | $13M | 0.2% | TRIM −10% |
| 55 | WBIWATERBRIDGE INFRASTRUCTURE L | 450,000 | $12M | 0.2% | HOLD |
| 56 | MWHSOLV ENERGY INC | 400,000 | $12M | 0.2% | NEW |
| 57 | TBNTAMBORAN RES CORP | 170,000 | $8M | 0.1% | ADD 70% |
| 58 | BRK.BBERKSHIRE HATHAWAY INC DEL | 17,726 | $8M | 0.1% | HOLD |
| 59 | LNGCheniere Energy, Inc | 24,000 | $7M | 0.1% | NEW |
| 60 | JCIJOHNSON CONTROLS INTERNATION | 49,666 | $7M | 0.1% | HOLD |
| 61 | HTOH2O AMERICA | 100,000 | $6M | 0.1% | NEW |
| 62 | LACLITHIUM AMERS CORP NEW | 1,240,000 | $5M | 0.1% | ADD 19% |
| 63 | UTGREAVES UTIL INCOME FD | 84,562 | $3M | 0.1% | HOLD |
| 64 | ATOATMOS ENERGY CORP | 16,660 | $3M | 0.1% | HOLD |
| 65 | CPKCHESAPEAKE UTILS CORP | 20,000 | $3M | 0.0% | TRIM −33% |
| 66 | FFIVF5 INC | 8,589 | $2M | 0.0% | NEW |
| 67 | TXNMPNM RES INC | 41,188 | $2M | 0.0% | TRIM −98% |
| 68 | SOSOUTHERN CO | 24,767 | $2M | 0.0% | HOLD |
| 69 | XOMEXXON MOBIL CORP | 12,800 | $2M | 0.0% | TRIM −29% |
| 70 | LINLINDE PLC | 4,349 | $2M | 0.0% | HOLD |
| 71 | LAMRLAMAR ADVERTISING CO | 14,000 | $2M | 0.0% | TRIM −44% |
| 72 | PCGPG&E CORP | 99,104 | $2M | 0.0% | HOLD |
| 73 | DTEGYDEUTSCHE TELEKOM AG SPONSORED ADR | 38,399 | $1M | 0.0% | HOLD |
| 74 | AAPLAPPLE INC | 4,800 | $1M | 0.0% | HOLD |
| 75 | DUKDUKE ENERGY CORP NEW | 8,277 | $1M | 0.0% | HOLD |
| 76 | OKEONEOK INC NEW | 11,810 | $1M | 0.0% | TRIM −97% |
| 77 | PLDPROLOGIS INC. | 7,356 | $972,316 | 0.0% | HOLD |
| 78 | AWKAMERICAN WTR WKS CO INC NEW | 6,145 | $836,273 | 0.0% | HOLD |
| 79 | PMPHILIP MORRIS INTL INC | 5,000 | $826,700 | 0.0% | HOLD |
| 80 | EVRGEVERGY INC | 10,087 | $826,327 | 0.0% | HOLD |
| 81 | NJRNEW JERSEY RES CORP | 14,615 | $802,656 | 0.0% | HOLD |
| 82 | JNJJOHNSON & JOHNSON | 3,278 | $801,274 | 0.0% | HOLD |
| 83 | CMCSACOMCAST CORP NEW | 26,200 | $752,202 | 0.0% | TRIM −96% |
| 84 | CVXCHEVRON CORP NEW | 3,464 | $716,702 | 0.0% | TRIM −62% |
| 85 | PPGPPG INDS INC | 5,000 | $534,400 | 0.0% | HOLD |
| 86 | CCOICOGENT COMMUNICATIONS HLDGS | 28,098 | $529,366 | 0.0% | TRIM −89% |
| 87 | MOALTRIA GROUP INC | 8,000 | $527,920 | 0.0% | HOLD |
| 88 | EXCEXELON CORP | 7,990 | $391,670 | 0.0% | HOLD |
| 89 | BKRBAKER HUGHES COMPANY | 5,000 | $305,250 | 0.0% | HOLD |
| 90 | VZVERIZON COMMUNICATIONS INC | 4,665 | $234,183 | 0.0% | NEW |
| Security | 2024-Q4 | 2025-Q1 | 2025-Q2 | 2025-Q3 | 2025-Q4 | 2026-Q1 | Latest value |
|---|---|---|---|---|---|---|---|
| TLNTALEN ENERGY CORP | 1.3M | 1.2M | 1.3M | 1.4M | 1.5M | 1.5M | $482M |
| CEGCONSTELLATION ENERGY CORP | 838K | 724K | 823K | 1.0M | 1.1M | 1.2M | $336M |
| VSTVISTRA CORP | 1.6M | 1.5M | 1.6M | 1.9M | 2.2M | 2.1M | $315M |
| CNPCENTERPOINT ENERGY INC | 2.8M | 4.4M | 6.3M | 7.2M | 7.7M | 7.0M | $302M |
| XELXCEL ENERGY INC | 1.5M | 2.3M | 2.5M | 3.2M | 3.6M | 3.5M | $282M |
| IDAIDACORP INC | 998K | 1.2M | 1.6M | 1.7M | 1.8M | 1.8M | $257M |
| ETRENTERGY CORP NEW | 2.0M | 2.3M | 2.0M | 2.3M | 2.4M | 2.2M | $252M |
| LNTALLIANT ENERGY CORP | 787K | 652K | 1.2M | 1.8M | 3.1M | 3.0M | $215M |
| SRESEMPRA | 1.3M | 1.9M | 1.5M | 1.6M | 2.1M | 2.1M | $201M |
| NINISOURCE INC | 4.0M | 4.2M | 3.7M | 5.0M | 5.4M | 4.1M | $192M |
| EQIXEQUINIX INC | 116K | 158K | 159K | 159K | 169K | 174K | $170M |
| CMSCMS ENERGY CORP | 1.3M | 361K | 1.9M | 2.1M | 2.1M | 2.1M | $164M |
| GEVGE VERNOVA INC | — | 20K | 20K | 15K | 73K | 175K | $153M |
| WMBWILLIAMS COS INC | 1.1M | 673K | 748K | 1.1M | 1.3M | 2.1M | $152M |
| PPLPPL CORP | 4.0M | 4.1M | 3.8M | 4.3M | 4.4M | 3.7M | $142M |
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.
Where this firm's principals came from and which firms its alumni went on to found.
