Key Points
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TB Alternative Assets sold 94,343 shares of Constellation Energy; estimated trade value of approximately $30.45 million, based on the average price for the quarter
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Transaction represented a 4.6% change in 13F reportable assets under management for the period
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Post-trade position: 69,606 shares valued at $22.91 million as of September 30, 2025
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The position now accounts for 3.4% of fund AUM, which places it outside the fund’s top five holdings
TB Alternative Assets Ltd. cut its stake in Constellation Energy(NASDAQ:CEG) in the third quarter of 2025, executing an estimated $30.45 million sell order, according to an October 17, 2025, SEC filing.
What happened
TB Alternative Assets Ltd. reported in a Securities and Exchange Commission (SEC) filing dated October 17, 2025, that it reduced its position in Constellation Energy by 94,343 shares in the third quarter. The estimated value of the shares sold was $30.45 million, based on the average closing price for the quarter. The firm now holds 69,606 shares valued at $22.91 million.
What else to know
This was a sell transaction, bringing the CEG stake to 3.4% of the fund’s reportable U.S. equity assets
Top holdings after the filing:
META: $76.97 million (11.5% of AUM)
GOOGL: $58.56 million (8.8% of AUM)
INTC: $51.26 million (7.7% of AUM)
PDD: $45.72 million (6.8% of AUM)
MSTR: $40.60 million (6.1% of AUM)
As of October 16, 2025, shares of Constellation Energy were priced at $396.53, up 41.7% over the past year, outperforming the S&P 500 index by 35.9 percentage points over the same period
Company Overview
| Metric | Value |
|---|---|
| Revenue (TTM) | $23.57 billion |
| Net Income (TTM) | $3.75 billion |
| Dividend Yield | 0.39% |
| Price (as of market close 2025-10-16) | $396.53 |
Company Snapshot
Constellation Energy Group offers electricity generation and sales, natural gas, renewable energy, and related energy services across the United States.
Operates a diversified portfolio of nuclear, wind, solar, natural gas, and hydroelectric assets, generating revenue through wholesale and retail energy sales.
Serves distribution utilities, municipalities, cooperatives, commercial, industrial, governmental, and residential customers.
Constellation Energy is a leading U.S. energy provider with over 32,400 megawatts of generating capacity, emphasizing a balanced mix of nuclear and renewable assets. The company leverages its scale and asset diversity to deliver reliable energy solutions to a broad customer base.
Foolish take
TB Alternative Assets gave Constellation Energy Group a big demotion during the third quarter. It was the firm’s second-largest holding at 9.8% of the total portfolio at the end of June. At the end of September, it was the company’s 13th largest holding out of 48 in total.
Constellation Energy’s dividend yield is low now, but investors who’ve been holding over the long term are seeing a significant yield on cost. The company has been able to raise its dividend payout by 175% since beginning a dividend program in 2022.
Constellation’s nuclear energy segment is positioned to deliver a growing revenue stream in the years ahead. The passage of the One Big Beautiful Bill expanded nuclear tax credits enacted in the Inflation Reduction Act. Government support has been matched with demand from one of the country’s largest businesses. Earlier this year, the company signed a 20-year deal with Meta to provide it with the full output of the Clinton Clean Energy Center.
Glossary
13F reportable assets: Assets that institutional investment managers must disclose quarterly to the SEC, showing their U.S. equity holdings.
Assets under management (AUM): The total market value of investments managed by a fund or investment firm.
Sell order: An instruction to a broker or trading system to sell a specified amount of a security.
Top holdings: The largest investment positions in a fund, typically ranked by their value or percentage of total assets.
Dividend yield: Annual dividends paid by a company divided by its share price, shown as a percentage.
Wholesale energy sales: The sale of electricity or energy products in large quantities, typically to utilities or large organizations rather than individual consumers.
Retail energy sales: The sale of electricity or energy products directly to end users, such as businesses or households.
Distribution utilities: Companies that deliver electricity or natural gas from transmission systems to end users.
Megawatt: A unit of power equal to one million watts, commonly used to measure electricity generation capacity.
Generating capacity: The maximum amount of electricity a power plant or company can produce under specific conditions.
Portfolio: A collection of investments held by an individual or institution.
TTM: The 12-month period ending with the most recent quarterly report.
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Cory Renauer has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Alphabet, Constellation Energy, Intel, and Meta Platforms. The Motley Fool recommends the following options: short November 2025 $21 puts on Intel. The Motley Fool has a disclosure policy.