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Condire Management Portfolio holdings

AUM $1.03B
1-Year Est. Return 162.78%
This Fund
S&P 500
This Quarter Est. Return
+7.3%
1 Year Est. Return
+162.78%
3 Year Est. Return
+252.12%
5 Year Est. Return
+463.26%
10 Year Est. Return
–
AUM
$652M
AUM Growth
+$64M
Cap. Flow
+$30.1M
Cap. Flow %
4.62%
Top 10 Hldgs %
81.42%
Holding
19
New
5
Increased
4
Reduced
8
Closed
1

Top Buys

Rank Stock Value
1
VAL icon
Valaris
VAL
+$30.1M
2
SDRL icon
Seadrill
SDRL
+$21M
3
TDW icon
Tidewater
TDW
+$18.5M
4
XLE icon
State Street Energy Select Sector SPDR ETF
XLE
+$11.5M
5
CDLR icon
Cadeler
CDLR
+$11.2M

Top Sells

Rank Stock Value
1
CPE
Callon Petroleum Company
CPE
+$37.7M
2
SWN
Southwestern Energy Company
SWN
+$20.1M
3
ARCH
Arch Resources, Inc.
ARCH
+$7.01M
4
CHRD icon
Chord Energy
CHRD
+$5.41M
5
NETI
Eneti Inc.
NETI
+$4.49M

Sector Composition

Rank Sector Weight
1 Energy 59.45%
2 Materials 34.13%
3 Industrials 1.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SDRL icon
1
Seadrill
SDRL
$2.7B
$91.8M 14.09%
1,942,595
+496,315
+34% +$21M
CHRD icon
2
Chord Energy
CHRD
$7.21B
$91M 13.96%
547,721
-33,079
-6% -$5.41M
VAL icon
3
Valaris
VAL
$5.3B
$86.8M 13.31%
1,266,021
+438,731
+53% +$30.1M
CGAU
4
Centerra Gold
CGAU
$3B
$55.7M 8.54%
9,325,940
-34,168
-0.4% -$187K
SWN
5
DELISTED
Southwestern Energy Company
SWN
$47.3M 7.26%
7,224,854
-3,005,146
-29% -$20.1M
GATO
6
DELISTED
Gatos Silver, Inc.
GATO
$37.6M 5.77%
5,750,000
+75,085
+1% +$417K
ARCH
7
DELISTED
Arch Resources, Inc.
ARCH
$34.3M 5.26%
206,591
-44,572
-18% -$7.01M
HMY icon
8
Harmony Gold Mining
HMY
$9.15B
$31.4M 4.81%
5,100,000
-200,000
-4% -$1.05M
AEM icon
9
Agnico Eagle Mines
AEM
$68.5B
$29.1M 4.47%
531,405
-81,596
-13% -$4.08M
RYAM icon
10
Rayonier Advanced Materials
RYAM
$555M
$25.7M 3.95%
6,356,130
+31,710
+0.5% +$104K
HBM icon
11
Hudbay
HBM
$9.04B
$22.4M 3.43%
4,057,243
-542,757
-12% -$2.54M
TDW icon
12
Tidewater
TDW
$3.77B
$20.6M 3.16%
+285,900
New +$18.5M
SBSW icon
13
Sibanye-Stillwater
SBSW
$5.66B
$20.6M 3.16%
3,790,555
– –
CPE
14
DELISTED
Callon Petroleum Company
CPE
$15.7M 2.41%
485,048
-1,099,991
-69% -$37.7M
CDLR icon
15
Cadeler
CDLR
$2.24B
$11.5M 1.76%
+624,400
New +$11.2M
XLE icon
16
State Street Energy Select Sector SPDR ETF
XLE
$38.2B
$11.3M 1.74%
+270,000
New +$11.5M
OIH icon
17
VanEck Oil Services ETF
OIH
$2.05B
$10.8M 1.66%
+35,000
New +$11.2M
XOP icon
18
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.48B
$8.21M 1.26%
+60,000
New +$8.44M
NETI
19
DELISTED
Eneti Inc.
NETI
– –
-444,945
Closed -$4.49M

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Condire Management's Q4 2023 Portfolio in Review

As of Q4 2023, Condire Management held 19 positions worth $652M, up 11% from $588M the previous quarter. Its ten largest holdings account for 81% of the portfolio.

Condire Management deployed $30.1M of net new capital in Q4 2023, opening 5 new positions and adding to 4 existing holdings. Its largest new stake was Tidewater: 285,900 shares worth $20.6M.

By sector, the portfolio is most concentrated in Energy at 59% of assets, down from 67% a quarter earlier, followed by Materials and Industrials.

On the sell side, the largest reduction was Callon Petroleum Company, an estimated $37.7M trimmed.

  • Condire Management's largest Q4 2023 buy was Tidewater: 285,900 shares worth $20.6M.
  • Condire Management added most to Valaris in Q4 2023, an estimated $30.1M increase.
  • Condire Management's biggest Q4 2023 reduction was Callon Petroleum Company, cutting an estimated $37.7M.
  • Condire Management fully exited Eneti Inc. in Q4 2023, selling an estimated $4.49M.
  • Condire Management's ten largest holdings make up 81% of its $652M portfolio in Q4 2023.
  • Condire Management opened 5 new positions and closed 1 in Q4 2023.
  • Condire Management's portfolio value rose 11% quarter-over-quarter to $652M.

Based on Condire Management's 13F filing for Q4 2023, filed 15 Feb 2024.