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Condire Management, LP

Q4 2025 · Filed 2026-02-17
Market Value
$864M
+11.0%
Holdings
21
-5
New Purchases
3
Added To
6
Closed
2
Reduced
2
Top 10 Concentration
88.7%
Turnover
23.8%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
BTG 5.88% 0.00% +5.88% $51M
IAUX 13.56% 9.83% +3.73% $117M
EXK 4.90% 3.02% +1.88% $42M
NEXM 1.59% 0.00% +1.59% $14M
SBSW 8.65% 7.17% +1.48% $75M
XME 1.47% 0.05% +1.42% $13M
XOP 0.60% 0.00% +0.60% $5M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
SSRM 0.00% 10.52% -10.52% $0
RYAM 4.33% 5.90% -1.56% $37M
CHRD 5.42% 6.78% -1.36% $47M
INSW 0.00% 1.15% -1.15% $0
VAL 6.76% 7.26% -0.50% $58M
CDLR 1.34% 1.66% -0.31% $12M
TDW 1.67% 1.96% -0.29% $14M
CVE 2.15% 2.40% -0.25% $19M
ODV 9.34% 9.57% -0.23% $81M
AEM 1.87% 2.06% -0.19% $16M
CNR 2.07% 2.16% -0.10% $18M
NGD 27.66% 27.71% -0.05% $239M
TNP 0.50% 0.55% -0.05% $4M
MUX 0.24% 0.25% -0.01% $2M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Large Cap 2 $35M 4.0%
Mid Cap 13 $574M 66.4%
Small Cap 5 $242M 28.0%
Micro Cap 1 $14M 1.6%

Portfolio Analytics

Avg Market Cap
$10.3B
Median Market Cap
$4.1B
Avg P/E
12.5
Median P/E
11.3
Avg Dividend Yield
0.01%
Avg Beta
0.96
# Stocks
19
# ETFs / Funds
2

Top Holdings (21 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 NGD 27.66% 27,437,020 $239M $8.71 $23M -2,602,898 -8.7%
2 IAUX 13.56% 80,241,558 $117M $1.46 $41M +141,558 +0.2%
3 ODV 9.34% 23,112,036 $81M $3.49 $6M +1,147,192 +5.2%
4 SBSW 8.65% 5,244,469 $75M $14.25 $19M +279,540 +5.6%
5 VAL 6.76% 1,158,651 $58M $50.40 $2M
6 BTG 5.88% 11,265,300 $51M $4.51 +11,265,300 NEW
7 CHRD 5.42% 505,536 $47M $92.70 -$6M -25,755 -4.8%
8 EXK 4.90% 4,503,543 $42M $9.40 $19M +1,503,543 +50.1%
9 RYAM 4.33% 6,358,877 $37M $5.89 -$8M +2,747 +0.0%
10 CVE 2.15% 1,100,000 $19M $16.92 -$77K
11 CNR 2.07% 201,663 $18M $88.51 $1M
12 AEM 1.87% 95,186 $16M $169.53 $92K
13 TDW 1.67% 285,900 $14M $50.51 -$806K
14 NEXM 1.59% 3,513,500 $14M $3.91 +3,513,500 NEW
15 XME 1.47% 122,451 $13M $103.61 $12M +118,375 +2904.2%
16 CDLR 1.34% 624,400 $12M $18.59 -$1M
17 XOP 0.60% 41,028 $5M $126.26 +41,028 NEW
18 TNP 0.50% 190,977 $4M $22.42 $38K
19 MUX 0.24% 113,000 $2M $18.51 $159K
20 SSRM —% -$82M -3,353,891 -100.0% SOLD
21 INSW —% -$9M -194,763 -100.0% SOLD

New Positions

SymbolValue% Port
BTG $51M 5.88%
NEXM $14M 1.59%
XOP $5M 0.60%

Sold Out Positions

SymbolValue% Port
INSW —%
SSRM —%
View SEC EDGAR Filings for Condire Management, LP →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms