Calumet Specialty Products
CLMT
149 hedge funds and large institutions have $827M invested in Calumet Specialty Products in 2025 Q3 according to their latest regulatory filings, with 30 funds opening new positions, 44 increasing their positions, 41 reducing their positions, and 15 closing their positions.
100% more first-time investments, than exits
New positions opened: 30 | Existing positions closed: 15
18% more capital invested
Capital invested by funds: $699M → $827M (+$128M)
11% more funds holding
Funds holding: 134 → 149 (+15)
1.02% more ownership
Funds ownership: 51.23% → 52.25% (+1%)
7% more repeat investments, than reductions
Existing positions increased: 44 | Existing positions reduced: 41
2% more call options, than puts
Call options by funds: $89.2M | Put options by funds: $87.5M
14% less funds holding in top 10
Funds holding in top 10: 7 → 6 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TSC
Two Seas Capital
Rye,
New York
|
+$20.6M |
| 2 |
Brown Advisory
Baltimore,
Maryland
|
+$10.1M |
| 3 |
Mariner
Overland Park,
Kansas
|
+$5.5M |
| 4 |
Morgan Stanley
New York
|
+$4.55M |
| 5 |
Marshall Wace
London,
United Kingdom
|
+$3.86M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DMKJ
David M. Knott Jr
|
-$7.4M |
| 2 |
AFA
Alta Fundamental Advisers
New York
|
-$7.25M |
| 3 |
Verition Fund Management
Greenwich,
Connecticut
|
-$5.2M |
| 4 |
UBS Group
Zurich,
Switzerland
|
-$4.34M |
| 5 |
Hudson Bay Capital Management
Stamford,
Connecticut
|
-$4.16M |
CLMT Hedge Fund Activity: Q3 2025 in Review
149 of the 7,619 institutional investors tracked by Wall St. Rank reported a position in Calumet Specialty Products (CLMT) for Q3 2025, worth a combined $827M — up 18% from $699M a quarter earlier.
Buyers outnumbered sellers: 30 funds opened new CLMT positions and 15 closed out — a net gain of 15 holders — while 44 added to existing stakes and 41 trimmed.
The largest buyer was Two Seas Capital, adding an estimated $20.6M. The largest seller was David M. Knott Jr, cutting an estimated $7.4M.
- 149 institutional investors held Calumet Specialty Products (CLMT) as of Q3 2025, up from 134 in Q2 2025.
- Funds reported $827M of Calumet Specialty Products stock for Q3 2025, up 18% quarter-over-quarter.
- 30 funds opened new Calumet Specialty Products positions in Q3 2025 and 15 closed out, a net change of +15 holders.
- The largest Calumet Specialty Products buyer in Q3 2025 was Two Seas Capital, an estimated $20.6M added.
- The largest Calumet Specialty Products seller in Q3 2025 was David M. Knott Jr, an estimated $7.4M sold.
Based on aggregated 13F filings for Q3 2025.