Calumet Specialty Products
CLMT
140 hedge funds and large institutions have $895M invested in Calumet Specialty Products in 2025 Q4 according to their latest regulatory filings, with 15 funds opening new positions, 40 increasing their positions, 55 reducing their positions, and 20 closing their positions.
17% more call options, than puts
Call options by funds: $111M | Put options by funds: $95.4M
8% more capital invested
Capital invested by funds: $827M → $895M (+$67.9M)
0.31% less ownership
Funds ownership: 52.25% → 51.94% (-0.31%)
6% less funds holding
Funds holding: 149 → 140 (-9)
17% less funds holding in top 10
Funds holding in top 10: 6 → 5 (-1)
25% less first-time investments, than exits
New positions opened: 15 | Existing positions closed: 20
27% less repeat investments, than reductions
Existing positions increased: 40 | Existing positions reduced: 55
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
TSC
Two Seas Capital
Rye,
New York
|
+$23.5M |
| 2 |
Bank of America
Charlotte,
North Carolina
|
+$6.48M |
| 3 |
Morgan Stanley
New York
|
+$6.34M |
| 4 |
Goldman Sachs
New York
|
+$3.76M |
| 5 |
UBS Group
Zurich,
Switzerland
|
+$3.27M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
DMKJ
David M. Knott Jr
|
-$11.7M |
| 2 |
GECH
Garnet Equity Capital Holdings
New York
|
-$5.2M |
| 3 |
AAA
Adams Asset Advisors
Dallas,
Texas
|
-$4.81M |
| 4 |
WDOM
Wasserstein Debt Opportunities Management
New York
|
-$4.69M |
| 5 |
ACA
AYAL Capital Advisors
Toronto,
Ontario, Canada
|
-$4.26M |
CLMT Hedge Fund Activity: Q4 2025 in Review
140 of the 8,267 institutional investors tracked by Wall St. Rank reported a position in Calumet Specialty Products (CLMT) for Q4 2025, worth a combined $895M — up 8.2% from $827M a quarter earlier.
Sellers outnumbered buyers: 20 funds closed out of CLMT and 15 opened new positions — a net loss of 5 holders — while 55 trimmed existing stakes and 40 added.
The largest buyer was Two Seas Capital, adding an estimated $23.5M. The largest seller was David M. Knott Jr, cutting an estimated $11.7M.
- 140 institutional investors held Calumet Specialty Products (CLMT) as of Q4 2025, down from 149 in Q3 2025.
- Funds reported $895M of Calumet Specialty Products stock for Q4 2025, up 8.2% quarter-over-quarter.
- 15 funds opened new Calumet Specialty Products positions in Q4 2025 and 20 closed out, a net change of -5 holders.
- The largest Calumet Specialty Products buyer in Q4 2025 was Two Seas Capital, an estimated $23.5M added.
- The largest Calumet Specialty Products seller in Q4 2025 was David M. Knott Jr, an estimated $11.7M sold.
Based on aggregated 13F filings for Q4 2025.