13F
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Yaupon Capital Management LP

13F equity value
$2.0B
Positions
87
Top 10 concentration
34.2%
Quarters / total new picks
28 / 501
13F equity value over time
$0M$1B$2B201820192020202120222023202420252026

"13F equity value" = market value of this filer's US-listed long equity positions only. It excludes cash, bonds, non-US and short positions, so it understates a fund's true assets under management — often by a lot.

Not significant Verdict

13F holdings are disclosed ~45 days after quarter-end, and they never reveal when within the quarter a fund actually bought. So any 13F-based summary is structurally late and blurred — this applies to every fund, including this one.

We backtested copying it anyway. Buying this fund's new positions the day each filing went public, over 28 quarters, returned +2.9% per quarter — versus +3.1% per quarter from simply owning every 13F stock. It beat that baseline in only 46.4% of quarters (excess t = 0.70, not statistically significant). Its filings tell you what it bought — not what you should buy.

Avg 2Q excess
+2.3%
t-stat
0.70
Quarterly win rate
46%
Annualized excess
-1.3%
$1 → follow vs universe
$1.93 vs $2.10
Cumulative return: $1 invested in new picks vs universe
1.00 20190331: universe 0.98320190630: universe 1.05620190930: universe 1.13620191231: universe 0.91620200331: universe 1.10520200630: universe 1.22020200930: universe 1.49720201231: universe 1.56520210331: universe 1.57920210630: universe 1.70520210930: universe 1.53120211231: universe 1.30320220331: universe 1.39920220630: universe 1.29620220930: universe 1.39220221231: universe 1.29320230331: universe 1.36220230630: universe 1.31320230930: universe 1.49120231231: universe 1.55720240331: universe 1.59220240630: universe 1.73720240930: universe 1.72220241231: universe 1.60720250331: universe 1.75220250630: universe 1.80720250930: universe 2.03220251231: universe 2.102 20190331: follow 0.77120190630: follow 0.80120190930: follow 0.85620191231: follow 0.68220200331: follow 0.69220200630: follow 0.68020200930: follow 0.70520201231: follow 0.79620210331: follow 0.80320210630: follow 0.79420210930: follow 0.79020211231: follow 0.86520220331: follow 0.90320220630: follow 0.84220220930: follow 0.85720221231: follow 0.82920230331: follow 0.89320230630: follow 0.86520230930: follow 0.89520231231: follow 1.02520240331: follow 1.04820240630: follow 1.10420240930: follow 1.11020241231: follow 1.01020250331: follow 1.21420250630: follow 1.23120250930: follow 1.57620251231: follow 1.933 0.63 1.45 2.27 2019202020212022202320242025 Follow Universe

Quarterly compounding, invested quarters only · entry 47 days after quarter-end (when 13F data becomes public)

Listed as facts. See the verdict above before treating this as signal.

Top 20 holdings of 87 · 2026 Q1

Ticker Value Weight QoQ
NFG $98M
4.8%
TRIM
CTRA $95M
4.7%
ADD
CVE $76M
3.7%
TRIM
VST $68M
3.4%
NEW
OVV $65M
3.2%
TRIM
PR $64M
3.2%
TRIM
BKV $58M
2.9%
ADD
NI $58M
2.9%
ADD
CSX $56M
2.7%
TRIM
PEG $54M
2.7%
ADD
HTO $53M
2.6%
ADD
BP $45M
2.2%
TRIM
AEE $44M
2.2%
TRIM
DUK $44M
2.2%
TRIM
AWK $43M
2.1%
TRIM
TRP $43M
2.1%
TRIM
HUT $43M
2.1%
ADD
SHEL $38M
1.9%
TRIM
DTE $37M
1.8%
TRIM
CMS $35M
1.7%
NEW

QoQ vs previous quarter's share count · NEW = new position · ADD/TRIM = ±2% shares · HOLD = unchanged.

Listed as facts. See the verdict above before treating this as signal.

New positions in 2026 Q1

ASPICCCENXCMSCNRCOPCORZDARDTMEEFLOCKEXLITELYBNXTPAGPPORSAROSEDGSRTLNUSARVNOMVSTWLK

Method & Limitations

Method: a "new position" = held this quarter, absent last quarter (options excluded; stocks with <50 prior holders excluded to filter spin-off artifacts). Entry 47 days after quarter-end — the first day the public could act on the filing. Benchmark = equal-weighted universe of all 13F-held stocks. Limitations: quarterly snapshots can't see intra-quarter trades; survivorship bias — funds that shut down are absent, which flatters the sample. Statistics, not advice.