CM
Condire Management, LP Holdings Report (Q2 2026) — 13F Stock Portfolio
Condire Management, LPCIK: 0001847739
Sector-focusedMomentum followerQuality / disciplined sizing
Total reported value
$854.9M
Reporting period: 2026-06-30 · Number of holdings: 20
Condire Management, LP disclosed 20 holdings in its latest 13F filing for the period ending 2026-06-30, with total reported value of $854.9M and a quarterly turnover rate of 26.0%.
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Personality snowflake
- Concentration
- 36.55
- Portfolio Stability
- 26.02
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 40
- Sizing Uniformity
- 90.67
Condire Management, LP's disclosed holdings carry a Herfindahl concentration index of 0.091 — mathematically equivalent to about 11 equally-sized positions, well below its 20 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.93), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 45% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govNew buy AAUC
Trim VAL
-7.9% -$36.1M
Add IAUX
0.0% -$6.6M
Trim CVE
-45.5% -$14.3M
Trim SBSW
0.0% -$20.1M
Trim CHRD
-10.8% -$22.4M
Holdings Map
New buyAddUnchangedTrim
* This report is exclusively curated by the AlphaSMO team. AlphaSMO is the web's most authoritative 13F / Inside Trader database, delivering precise insider trading and institutional holdings insights.
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | CDE | Coeur Mining Inc | Stock-Materials | 18.98% | +0.94% | — | |
| 2 | IAUX | I-80 Gold CORP | Stock-Other | 13.83% | +1.77% | — | |
| 3 | VAL | Valaris Limited | Stock-Energy | 9.06% | -1.92% | -7.91% | |
| 4 | ODV | Osisko Development CORP | Stock-Other | 7.21% | -0.66% | — | |
| 5 | CHRD | Chord Energy CORP | Stock-Energy | 6.64% | -1.01% | -10.77% | |
| 6 | RYAM | Rayonier Advanced Materials | Stock-Other | 5.85% | -0.95% | — | |
| 7 | SDRL | Seadrill Limited | Stock-Other | 5.66% | +0.03% | — | |
| 8 | SBSW | Sibanye-stillwater Ltd-adr | Stock-Other | 5.21% | -1.03% | — | |
| 9 | BTG | B2gold CORP | Stock-Other | 5.06% | -0.01% | — | |
| 10 | EXK | Endeavour Silver CORP | Stock-Materials | 4.36% | +0.31% | — | |
| 11 | AAUC | Allied Gold CORP | Stock-Other | 3.86% | +3.86% | NEW | |
| 12 | IAUX-WS | I-80 Gold CORP -26 | Stock-Other | 3.80% | -0.21% | +0.15% | |
| 13 | TDW | Tidewater Inc | Stock-Energy | 2.23% | -0.08% | — | |
| 14 | CNR | Core Natural Resources Inc | Stock-Energy | 1.89% | -0.15% | — | |
| 15 | CVE | Cenovus Energy Inc | Stock-Energy | 1.74% | -1.08% | -45.45% | |
| 16 | CDLR | Cadeler A/s-adr | Stock-Other | 1.38% | -0.04% | -13.52% | |
| 17 | ELE | Elemental Royalty CORP | Stock-Other | 1.31% | +0.08% | -4.88% | |
| 18 | NEXM | Nexmetals Mining CORP | Stock-Other | 0.97% | +0.14% | — | |
| 19 | TEN | Tsakos Energy Navigation Limited | Stock-Other | 0.72% | -0.01% | -8.40% | |
| 20 | MUX | Mcewen Inc | Stock-Other | 0.24% | +0.02% | — |
Portfolio Performance
Performance for Q3 2026
+6.7%
Performance Last 4 Quarters
+63.9%
Based on 88% of reported portfolio value with available pricing
- Stdev
- +35.7%
- Beta
- +0.9
- Alpha
- +9.1%
- Max Drawdown
- -37.2%
- Annualized Perf
- +23.5%
- Batting Avg vs S&P
- +50%
- Sortino
- +1.5
- Stutzer
- +0.23
- Treynor
- +0.3
- Sterling
- +0.74
- Calmar
- +0.63
- Information Ratio
- +0.21
- Tracking Error
- +33.7%
- Stdev Down
- +18.1%
- Winning Months %
- +52.8%
- Losing Months %
- +47.2%
- Best 12 Months
- +133.8%
- Worst 12 Months
- -30.8%
- Efficiency Ratio
- +0.3
- Sharpe
- +0.76
- Stdev Sectors
- +2%
- Skewness
- +0.53
- Kurtosis
- -0.07
- Upside Potential
- +3.42
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
| Period | Holdings | Total value | Stability | Top holdings | |
|---|---|---|---|---|---|
| 2026 Q2 | 20 | $854.9M | 26 | ||
| 2026 Q1 | 19 | $1.0B | 66 | ||
| 2025 Q4 | 22 | $958.0M | 38 | ||
| 2025 Q3 | 20 | $835.4M | 85 | ||
| 2025 Q2 | 27 | $694.3M | 0 | ||
| 2025 Q1 | 22 | $668.8M | 100 | ||
| 2024 Q4 | 20 | $690.6M | 0 | ||
| 2024 Q3 | 17 | $795.5M | 0 | ||
| 2024 Q2 | 16 | $740.4M | 0 | ||
| 2024 Q1 | 19 | $740.5M | 0 | ||
| 2023 Q4 | 18 | $652.0M | 0 | ||
| 2023 Q3 | 14 | $588.1M | 0 | ||
| 2023 Q2 | 13 | $495.8M | 0 | ||
| 2023 Q1 | 15 | $502.0M | 0 | ||
| 2022 Q4 | 18 | $548.1M | 0 | ||
| 2022 Q3 | 19 | $551.0M | 0 | ||
| 2022 Q2 | 21 | $494.7M | 0 | ||
| 2022 Q1 | 21 | $532.4M | 0 | ||
| 2021 Q4 | 33 | $502.7M | 0 | ||
| 2021 Q3 | 19 | $392.0M | 0 | ||
| 2021 Q2 | 22 | $466.9M | 84 | ||
| 2021 Q1 | 17 | $334.7M | 0 |
Holding changes this quarter
Condire Management, LP's most significant position changes for 2026-06-30: New buy: Allied Gold CORP (AAUC); Trim: Valaris Limited (VAL) — shares -7.91%; Trim: Cenovus Energy Inc (CVE) — shares -45.45%; Trim: Chord Energy CORP (CHRD) — shares -10.77%; Add: I-80 Gold CORP -26 (IAUX-WS) — shares +0.15%.
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | AAUC | Allied Gold CORP | +3.9% | NEW | New buy |
| 2 | IAUX | I-80 Gold CORP | +1.8% | — | Unchanged |
| 3 | CDE | Coeur Mining Inc | +0.9% | — | Unchanged |
| 4 | EXK | Endeavour Silver CORP | +0.3% | — | Unchanged |
| 5 | NEXM | Nexmetals Mining CORP | +0.1% | — | Unchanged |
| 6 | ELE | Elemental Royalty CORP | +0.1% | -4.88% | Trim |
| 7 | SDRL | Seadrill Limited | 0% | — | Unchanged |
| 8 | MUX | Mcewen Inc | 0% | — | Unchanged |
| 9 | BTG | B2gold CORP | 0% | — | Unchanged |
| 10 | TEN | Tsakos Energy Navigation Limited | 0% | -8.40% | Trim |
| 11 | CDLR | Cadeler A/s-adr | 0% | -13.52% | Trim |
| 12 | TDW | Tidewater Inc | -0.1% | — | Unchanged |
| 13 | CNR | Core Natural Resources Inc | -0.2% | — | Unchanged |
| 14 | IAUX-WS | I-80 Gold CORP -26 | -0.2% | +0.15% | Add |
| 15 | ODV | Osisko Development CORP | -0.7% | — | Unchanged |
| 16 | RYAM | Rayonier Advanced Materials | -1% | — | Unchanged |
| 17 | CHRD | Chord Energy CORP | -1% | -10.77% | Trim |
| 18 | SBSW | Sibanye-stillwater Ltd-adr | -1% | — | Unchanged |
| 19 | CVE | Cenovus Energy Inc | -1.1% | -45.45% | Trim |
| 20 | VAL | Valaris Limited | -1.9% | -7.91% | Trim |
Filing History
FAQ
What is Condire Management, LP and what type of investor is it?
Condire Management, LP is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-06-30), the firm manages a tracked equity portfolio valued at approximately $854.9M, spread across 20 disclosed positions.
What are Condire Management, LP's largest equity positions?
Based on the latest 13F filing, Condire Management, LP's top holdings by market value are:
1. Coeur Mining Inc (CDE) — $162.3M (19.0%)
2. I-80 Gold CORP (IAUX) — $118.2M (13.8%)
3. Valaris Limited (VAL) — $77.5M (9.1%)
4. Osisko Development CORP (ODV) — $61.6M (7.2%)
5. Chord Energy CORP (CHRD) — $56.8M (6.6%)
What changes did Condire Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Condire Management, LP made 8 notable position adjustments: 1 new positions were initiated, 1 existing holdings were added to, 6 positions were partially reduced, and 0 were completely exited. The largest of these moves: New buy: Allied Gold CORP (AAUC); Trim: Valaris Limited (VAL) — shares -7.91%; Trim: Cenovus Energy Inc (CVE) — shares -45.45%; Trim: Chord Energy CORP (CHRD) — shares -10.77%; Add: I-80 Gold CORP -26 (IAUX-WS) — shares +0.15%
What sectors does Condire Management, LP focus on?
Condire Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio:
• Materials: 52.0%
• Energy: 48.0%
Investment Profile
Condire Management, LP returned an annualized 23.5% over the trailing 36 months — outperforming the S&P 500 by 9.1 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 0.90 (roughly in line with the market) and a 50% quarterly batting average against the index.
Its portfolio is moderately concentrated and moderately active, with 52.0% of the portfolio concentrated in Materials.
Its turnover score has risen from 0 to 26 over the past 4 quarters — a shift toward more active trading.
It has trimmed its SBSW position for two straight quarters, cutting it by $30.2M while still holding $44.5M.
Peer Institutions
Institutions with a similar AUM
EW
Evolution Wealth Advisors, LLC
CIK 0001763121
Total reported value
$854.9M
181 stks
2026-06-30
Concentration34.2
Portfolio Stability0.0
Sector conviction91.7
AUM within 0.0% of this institution
View detail
KF
Kg Funds Management, LLC
CIK 0001657043
Total reported value
$854.6M
11 stks
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Stale — no recent filing
Concentration48.3
Portfolio Stability0.0
Sector conviction96.8
AUM within 0.0% of this institution
View detail
HP
Hikari Power Ltd
CIK 0001606152
Total reported value
$854.5M
43 stks
2026-06-30
Concentration100.0
Portfolio Stability37.9
Sector conviction60.3
AUM within 0.0% of this institution
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Developer Access
Access Condire Management, LP's institutional profile programmatically:
REST API
curl https://alphasmo.com/api/v1/institutions/condire-management-lpCLI
npx alphasmo institutions get condire-management-lp