Q4 2025 · 13F-HR
Vennlight Capital Management, LPholdings as filed
Filed 2026-02-17 · accession 0001214659-26-001993
The Brief · Vennlight Capital Management, LP · Q4 2025
AI · grounded in 13F
Vennlight Capital Management, LP closed its position in HCM II Acquisition Corp IMSR, reducing exposure by $8.2M. The fund also exited positions in NuScale Power Corp SMR and PG&E Corp PCG, totaling losses of $6.9M and $6.1M respectively. On the buy side, the fund established a new position in Ferrovial SE FER for $7.5M and added $6.6M to Terrestrial Energy Inc IMSR. Additionally, the fund increased its holdings in Xcel Energy Inc XEL by 487.8%.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 98389B100 | XEL | XCEL ENERGY INC | $11.2M | 11.9% | 152,239 | Common | SOLE |
| N3168P101 | FER | FERROVIAL SE | $7.5M | 7.92% | 115,871 | Common | SOLE |
| 881454102 | IMSR | TERRESTRIAL ENERGY INC | $6.6M | 6.97% | 1,077,500 | CALL | SOLE |
| G38327105 | GPRK | GEOPARK LTD | $5.9M | 6.19% | 789,978 | Common | SOLE |
| 165303108 | CPK | CHESAPEAKE UTILS CORP | $5.4M | 5.75% | 43,586 | Common | SOLE |
| 88080T104 | WULF | TERAWULF INC | $4.8M | 5.10% | 419,396 | Common | SOLE |
| 018802108 | LNT | ALLIANT ENERGY CORP | $4.6M | 4.92% | 71,500 | Common | SOLE |
| 25380B102 | DGXX | DIGI PWR X INC | $4.5M | 4.73% | 1,753,308 | Common | SOLE |
| 17253J106 | CIFR | CIPHER MINING INC | $4.3M | 4.60% | 294,292 | Common | SOLE |
| 451107106 | IDA | IDACORP INC | $3.8M | 4.03% | 30,100 | Common | SOLE |
| 65473P105 | NI | NISOURCE INC | $3.8M | 4.02% | 91,024 | Common | SOLE |
| 093712107 | BE | BLOOM ENERGY CORP | $3.2M | 3.35% | 36,467 | Common | SOLE |
| 84857L101 | SR | SPIRE INC | $3.0M | 3.15% | 36,000 | Common | SOLE |
| 29364G103 | ETR | ENTERGY CORP NEW | $2.9M | 3.06% | 31,338 | Common | SOLE |
| N85083108 | NKLR | TERRA INNOVATUM GLOBAL NV | $2.9M | 3.04% | 621,540 | Common | SOLE |
| 00130H105 | AES | AES CORP | $2.2M | 2.33% | 153,692 | Common | SOLE |
| 05605H100 | BWXT | BWX TECHNOLOGIES INC | $2.1M | 2.26% | 12,350 | Common | SOLE |
| 36317J209 | GLXY | GALAXY DIGITAL INC. | $2.0M | 2.13% | 90,073 | Common | SOLE |
| Q4982L109 | IREN | IREN LIMITED | $2.0M | 2.11% | 52,749 | Common | SOLE |
| 09173B107 | 1B2 | BITFARMS LTD | $2.0M | 2.07% | 834,075 | Common | SOLE |
| 433921103 | HIVE | HIVE DIGITAL TECHNOLOGIES LT | $2.0M | 2.07% | 758,683 | Common | SOLE |
| 038169207 | APLD | APPLIED DIGITAL CORP | $1.9M | 1.97% | 76,037 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $1.7M | 1.76% | 4,440 | Common | SOLE |
| G11448100 | BTDR | BITDEER TECHNOLOGIES GROUP | $1.0M | 1.09% | 91,900 | Common | SOLE |
| G29183103 | ETN | EATON CORP PLC | $1.0M | 1.09% | 3,225 | Common | SOLE |
| 34379V103 | FLNC | FLUENCE ENERGY INC | $989,000 | 1.05% | 50,000 | PUT | SOLE |
| 88080T104 | WULF | TERAWULF INC | $660,675 | 0.70% | 57,500 | CALL | SOLE |
| Q4982L109 | IREN | IREN LIMITED | $604,320 | 0.64% | 16,000 | CALL | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.