Yaupon Capital Management LP
Long book
$2.03B
Q1 2026
Positions
87
Top-10 weight
34%
concentration
Last quarter
+1.1%
SPY +14.8%
Turnover
56%
of book per quarter
Strategy in plain words
auto-generated from filingsYaupon Capital Management LP is an institutional manager, running a $2.03B US long book across 87 positions.
The portfolio is moderately concentrated (top 10 ≈ 34% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: NATIONAL FUEL GAS CO, COTERRA ENERGY INC, CENOVUS ENERGY INC, VISTRA CORP, OVINTIV INC.
Over the last 9 quarters its long book ran on average 1.2pp per quarter ahead of the S&P 500, beating the index in 4 of 9 quarters. Signal value of individual moves is limited — treat changes as weak evidence.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+0.8%
Q2 2024
+8.0%
Q3 2024
+4.2%
Q4 2024
+1.5%
Q1 2025
+4.9%
Q2 2025
+7.9%
Q3 2025
+2.1%
Q4 2025
+20.7%
Q1 2026
+1.1%
Sector allocation
Utilities 50%
Energy 21%
Other 9%
Industrials 9%
Financials 5%
Materials 4%
Technology 2%
Consumer staples 0%
Long book by quarter
What does Yaupon Capital own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| NFG NATIONAL FUEL GAS CO | Utilities | 1.0M | $98.0M | 4.8% | -5.7% |
| CTRA COTERRA ENERGY INC | — | 2.7M | $95.3M | 4.7% | +14.4% |
| CVE CENOVUS ENERGY INC | Energy | 2.9M | $75.9M | 3.7% | -34.2% |
| VST VISTRA CORP | Utilities | 451.6K | $67.9M | 3.4% | New |
| OVV OVINTIV INC | Energy | 1.1M | $65.1M | 3.2% | -34.8% |
| PR PERMIAN RESOURCES CORP-CL A | Energy | 3.0M | $64.4M | 3.2% | -26.0% |
| BKV BKV CORPORATION | Energy | 2.0M | $58.2M | 2.9% | +172.0% |
| NI NISOURCE INC | Utilities | 1.2M | $58.0M | 2.9% | +4.2% |
| CSX CSX CORP | Industrials | 1.4M | $55.5M | 2.7% | -13.3% |
| PEG PUBLIC SERVICE ENTERPRISE GP | Utilities | 665.8K | $53.9M | 2.7% | +183.0% |
| HTO H2O AMERICA | Utilities | 895.4K | $52.5M | 2.6% | +796.5% |
| AEE AMEREN CORPORATION | Utilities | 402.9K | $44.3M | 2.2% | -7.3% |
| DUK DUKE ENERGY CORP | Utilities | 337.7K | $44.2M | 2.2% | -23.9% |
| AWK AMERICAN WATER WORKS CO INC | Utilities | 317.9K | $43.3M | 2.1% | -9.0% |
| TRP TC ENERGY CORP | Utilities | 690.4K | $43.2M | 2.1% | -39.6% |
| HUT HUT 8 CORP | Financials | 906.3K | $42.5M | 2.1% | +68.9% |
| DTE DTE ENERGY COMPANY | Utilities | 255.6K | $37.4M | 1.8% | -12.1% |
| CMS CMS ENERGY CORP | Utilities | 452.6K | $35.1M | 1.7% | New |
| WMB WILLIAMS COS INC | Utilities | 481.2K | $35.0M | 1.7% | -35.1% |
| AES AES CORP | Utilities | 2.4M | $33.8M | 1.7% | -45.0% |
| TRGP TARGA RESOURCES CORP | Utilities | 130.8K | $32.8M | 1.6% | -19.3% |
| PNW PINNACLE WEST CAPITAL | Utilities | 305.0K | $30.7M | 1.5% | -40.4% |
| EQT EQT CORP | Energy | 461.0K | $29.3M | 1.4% | -22.6% |
| CNP CENTERPOINT ENERGY INC | Utilities | 657.5K | $28.4M | 1.4% | -19.0% |
| COHR COHERENT CORP | Other | 116.8K | $27.8M | 1.4% | +31.0% |
| COP CONOCOPHILLIPS | Energy | 210.0K | $27.7M | 1.4% | New |
| TBN TAMBORAN RESOURCES CORP | Energy | 535.2K | $26.8M | 1.3% | +3.8% |
| TLN TALEN ENERGY CORP | Utilities | 79.2K | $25.3M | 1.2% | New |
| DTM DT MIDSTREAM INC | Utilities | 187.1K | $25.2M | 1.2% | New |
| MTDR MATADOR RESOURCES CO | Energy | 389.9K | $24.6M | 1.2% | -46.3% |
| FTI TECHNIPFMC PLC | Industrials | 344.6K | $23.8M | 1.2% | -63.5% |
| TAC TRANSALTA CORP | Utilities | 1.8M | $23.5M | 1.2% | +38.6% |
| LYB LYONDELLBASELL INDU-CL A | Other | 282.2K | $22.7M | 1.1% | New |
| XIFR XPLR INFRASTRUCTURE LP | Utilities | 2.1M | $22.7M | 1.1% | +91.3% |
| VNOM VIPER ENERGY INC-CL A | Energy | 477.0K | $22.4M | 1.1% | New |
| KEX KIRBY CORP | Industrials | 165.5K | $22.0M | 1.1% | New |
| MWH SOLV ENERGY INC-CL A | Industrials | 725.0K | $21.8M | 1.1% | New |
| ETR ENTERGY CORP | Utilities | 189.6K | $21.3M | 1.1% | -29.8% |
| B BARRICK MINING CORP | Materials | 470.5K | $19.2M | 0.9% | -5.3% |
| BKH BLACK HILLS CORP | Utilities | 246.6K | $17.1M | 0.8% | +77.5% |
| IDA IDACORP INC | Utilities | 112.7K | $16.1M | 0.8% | +59.8% |
| LITE LUMENTUM HOLDINGS INC | Technology | 22.2K | $15.6M | 0.8% | New |
| OGE OGE ENERGY CORP | Utilities | 319.1K | $15.3M | 0.8% | +6.4% |
| KBON KARBON CAPITAL PARTNERS-CL A | Financials | 1.5M | $14.8M | 0.7% | New |
| KRSP RICE ACQUISITION CORP 3-A | Financials | 1.4M | $14.7M | 0.7% | Held |
| HBM HUDBAY MINERALS INC | Materials | 652.3K | $13.6M | 0.7% | -38.0% |
| WLK WESTLAKE CORP | Other | 107.0K | $12.5M | 0.6% | New |
| CENX CENTURY ALUMINUM COMPANY | Industrials | 211.2K | $12.4M | 0.6% | New |
| SARO STANDARDAERO INC | Industrials | 459.4K | $11.9M | 0.6% | New |
| CNR CORE NATURAL RESOURCES INC | Materials | 113.2K | $11.9M | 0.6% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 15, 2026 | 98 | $3.20B | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 17, 2026 | 108 | $2.77B | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Nov 14, 2025 | 113 | $2.61B | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 14, 2025 | 116 | $2.23B | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 15, 2025 | 86 | $1.95B | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 14, 2025 | 110 | $2.42B | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 92 | $1.84B | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 14, 2024 | 99 | $1.98B | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 15, 2024 | 104 | $1.99B | canonical | SEC ↗ |
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