Yaupon Capital Management LP

Key Holdings

The portfolio is currently anchored by a mix of broad market exposure and high-conviction energy and utility plays. The SPDR S&P 500 ETF Trust (SPY) is the dominant holding, accounting for 10.58% ($166.54M) of the portfolio. This suggests a desire to maintain significant beta exposure to the broader market while actively managing the remaining capital.

The remaining top positions are heavily skewed toward the Energy and Utilities sectors. EOG Resources (EOG) is the largest individual equity holding at 8.55% ($134.54M), followed by AES Corp (AES) at 5.81% ($91.51M) and EQT Corp (EQT) at 5.10% ($80.22M). Notably, Venture Global Inc (VG) holds a substantial 4.57% weighting ($71.88M), indicating a specific focus on the LNG liquefaction space. The top 10 list is rounded out by traditional utility giants such as Duke Energy (DUK) and TC Energy (TRP), reinforcing the fund's tilt toward essential infrastructure.