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Funds (13F)

Yaupon Capital Management LP

Backtest from 15 Feb 2019 to 2 Nov 2026 · weekly · hypothetical

Watch this strategy
Return a year
+13.9%
S&P 500 +15.6%
Last 12 months
+21.6%
S&P 500 +12.1%
Sharpe ratio
0.54
S&P 500 0.73
Biggest drop
−45.1%
S&P 500 −31.8%
$10.0k$20.0k 20192020202120222023202420252026 $30.6k$27.2k
Yaupon Capital Management LPS&P 500 $10,000 in Yaupon Capital Management LP from 15 Feb 2019 against the S&P 500 (total return) over the same dates, marked weekly, log scale. Hypothetical: before taxes and trading costs.

About

Copies Yaupon Capital Management LP's quarterly 13F holdings in the companies we cover, weighted by reported value: it buys on the first trading day after each 13F is filed (up to 45 days after the quarter) and holds until the next filing. A 13F shows long US-listed positions only, at the quarter's end, so this misses shorts, cash, bonds, non-US holdings and trading within the quarter.

Yaupon Capital Management LP's 13F holdings →

Key statistics

MeasureStrategyS&P 500
Return a year (compound)+13.9%+15.6%
Total return+172%+206%
Last 12 months+21.6%+12.1%
Last 3 months−3.9%—
Last month−1.2%—
This year so far+20.8%—
Volatility a year23.7%18.0%
Sharpe ratio0.540.73
Biggest drop−45.1%−31.8%
Beta to the S&P 5000.911.00
Alpha a year (t-statistic)+0.9% (0.14)—
Share of weeks up57%—

Sharpe ratio uses returns above the 3-month Treasury bill rate. Alpha is the yearly return left after allowing for the strategy's exposure to the S&P 500 (CAPM); a t-statistic below about 2 means it cannot be told apart from luck.

Insights

CompanyWeightHeld sinceReturn since
NFG4.2%——
DVN3.0%——
NI2.9%——
OVV2.8%——
WMB2.8%——
BKV2.6%——
VST2.6%——
TLN2.6%——
CVE2.5%——
ETR2.5%——
FSLR2.2%——
PR2.1%——
PEG2.0%——
DUK2.0%——
AEP1.9%——
FPS1.9%——
LGN1.9%——
HTO1.8%——
KNTK1.7%——
DTE1.6%——
DINO1.5%——
AWK1.5%——
FCX1.5%——
CSX1.5%——
FDXF1.4%——
AR1.4%——
NBIS1.4%——
RRX1.3%——
LNG1.3%——
DTM1.3%——
HUT1.3%——
EQT1.3%——
NSC1.3%——
STM1.3%——
TRGP1.3%——
PRIM1.3%——
ATI1.2%——
CMI1.2%——
BKH1.2%——
PAGP1.1%——
AEE1.1%——
DPC1.0%——
UNP1.0%——
TAC1.0%——
DE1.0%——
CIFR0.9%——
VLO0.9%——
MWH0.9%——
VNOM0.8%——
XIFR0.8%——
COP0.8%——
SHEL0.8%——
CLF0.8%——
B0.8%——
SR0.7%——
TBN0.7%——
DAR0.7%——
AES0.7%——
SOLS0.6%——
MGEE0.6%——
USAR0.5%——
EE0.5%——
FRVO0.5%——
KGS0.5%——
ROK0.5%——
INIO0.5%——
GLNG0.5%——
FTAI0.5%——
PCT0.4%——
EROK0.4%——
CENX0.4%——
SSMR0.3%——
YSWY0.3%——
TH0.3%——
INR0.3%——
NWE0.3%——
NEXT0.3%——
XE0.3%——
COHR0.3%——
WTTR0.2%——
BTDR0.2%——
LITE0.2%——
KRP0.2%——
AUR0.2%——
TXNM0.2%——
CRGY0.1%——
EROC0.1%——
QNT0.1%——
WULF0.1%——
WOLF0.1%——
CDLR0.1%——
OPAL0.1%——
SOC0.0%——

Weighted by reported value in the latest 13F, held until the next filing.

PeriodReturn a yearS&P 500SharpeS&P 500Biggest dropBetaAlpha (t)
Whole backtest15 Feb 2019 to 2 Nov 2026+13.9%+15.6%0.540.73−45.1%0.91+0.9% (0.14)
Last three years3 Nov 2023 to 2 Nov 2026+20.9%+21.8%0.991.15−15.9%0.49+7.6% (0.94)
Last year7 Nov 2025 to 2 Nov 2026+21.3%+14.2%1.120.84−7.8%−0.03+16.5% (1.12)
DateCompanyAction
21 Aug 2026YSWYBought
21 Aug 2026XEBought
21 Aug 2026WULFBought
21 Aug 2026WTTRBought
21 Aug 2026VLOBought
21 Aug 2026UNPBought
21 Aug 2026THBought
21 Aug 2026STMBought
21 Aug 2026SSMRBought
21 Aug 2026SOLSBought
21 Aug 2026SOCBought
21 Aug 2026RRXBought
21 Aug 2026ROKBought
21 Aug 2026QNTBought
21 Aug 2026PRIMBought
21 Aug 2026PCTBought
21 Aug 2026NSCBought
21 Aug 2026NEXTBought
21 Aug 2026NBISBought
21 Aug 2026MGEEBought
21 Aug 2026LNGBought
21 Aug 2026LGNBought
21 Aug 2026KNTKBought
21 Aug 2026KGSBought
21 Aug 2026INIOBought

Dated at the rebalance that made the change.

DateCompanyAction
21 Aug 2026WLKSold
21 Aug 2026TRPSold
21 Aug 2026SEDGSold
21 Aug 2026SAROSold
21 Aug 2026PORSold
21 Aug 2026PNWSold
21 Aug 2026OGESold
21 Aug 2026NXTSold
21 Aug 2026MTDRSold
21 Aug 2026MDUSold
21 Aug 2026LYBSold
21 Aug 2026KEXSold
21 Aug 2026IDASold
21 Aug 2026HBMSold
21 Aug 2026FTISold
21 Aug 2026FLOCSold
21 Aug 2026CORZSold
21 Aug 2026CNRSold
21 Aug 2026CNPSold
21 Aug 2026CMSSold
21 Aug 2026CCSold
21 Aug 2026ASPISold
22 May 2026WWDSold
22 May 2026WMSSold
22 May 2026WFRDSold

Dated at the rebalance that made the change.

Backtests are hypothetical and use today's listed companies only, which flatters results. Past performance does not predict future returns. This is research, not investment advice. How we backtest