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Condire Management, LP

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13F filer, CIK 1847739, DALLAS, TX

Condire Management, LP reported $835,384,221 across 20 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 86.4% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001847739-25-000002

Period
2025-09-30
Reported value
$835M
Holdings
20
Top 10 weight
86.4%
New
1
Sold out
8

Largest buys vs the previous quarter

SecurityShares changeApprox. value
ODVadded+9,412,910$31.9M
SSRMadded+1,300,000$31.7M
I-80 GOLD CORPnew+40,846,499$18.4M
EXKadded+2,000,000$15.7M
IAUXadded+100,000$95.5K

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
HBMexited-7,275,553-$77.2M
XLBexited-227,517-$20M
NGDreduced-2,700,000-$19.4M
SBSWreduced-1,421,810-$16M
XMEreduced-148,009-$13.8M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q3 2025

Share positions as resolved from 13F-HR 0001847739-25-000002, largest first. % of portfolio is the value over $835,384,221, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
NGDNEW GOLD INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 34,883,000 shares; 2024Q4: 32,739,918 shares; 2025Q1: 32,739,918 shares; 2025Q2: 32,739,918 shares; 2025Q3: 30,039,918 shares 30,039,918$216M25.82%-2,700,000Timeline
SSRMSSR MINING INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,053,891 shares; 2025Q3: 3,353,891 shares 3,353,891$81.9M9.8%+1,300,000Timeline
IAUXI-80 GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 80,000,000 shares; 2025Q3: 80,100,000 shares 80,100,000$76.5M9.16%+100,000Timeline
ODVOSISKO DEVELOPMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 15,658 shares; 2025Q1: 12,551,934 shares; 2025Q2: 12,551,934 shares; 2025Q3: 21,964,844 shares 21,964,844$74.5M8.91%+9,412,910Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 1,952,960 shares; 2024Q4: 2,618,678 shares; 2025Q1: 2,864,986 shares; 2025Q2: 1,158,651 shares; 2025Q3: 1,158,651 shares 1,158,651$56.5M6.76%0Timeline
SBSWSIBANYE STILLWATER LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,790,555 shares; 2024Q4: 3,790,555 shares; 2025Q1: 3,790,555 shares; 2025Q2: 6,386,739 shares; 2025Q3: 4,964,929 shares 4,964,929$55.8M6.68%-1,421,810Timeline
CHRDCHORD ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 547,721 shares; 2024Q4: 547,721 shares; 2025Q1: 531,291 shares; 2025Q2: 531,291 shares; 2025Q3: 531,291 shares 531,291$52.8M6.32%0Timeline
RYAMRAYONIER ADVANCED MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,356,130 shares; 2024Q4: 6,356,130 shares; 2025Q1: 6,356,130 shares; 2025Q2: 6,356,130 shares; 2025Q3: 6,356,130 shares 6,356,130$45.9M5.49%0Timeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,571,992 shares; 2024Q4: 3,039,615 shares; 2025Q1: 3,070,703 shares; 2025Q2: 1,279,968 shares; 2025Q3: 1,279,968 shares 1,279,968$38.7M4.63%0Timeline
EXKENDEAVOUR SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,000,000 shares; 2025Q3: 3,000,000 shares 3,000,000$23.5M2.82%+2,000,000Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 2,209,786 shares; 2024Q4: 2,108,306 shares; 2025Q1: 2,108,306 shares; 2025Q2: 1,100,000 shares; 2025Q3: 1,100,000 shares 1,100,000$18.7M2.24%0Timeline
I-80 GOLD CORPI-80 GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 40,846,499 shares 40,846,499$18.4M2.2%new
CNRCORE NATURAL RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 201,663 shares; 2025Q2: 201,663 shares; 2025Q3: 201,663 shares 201,663$16.8M2.02%0Timeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 546,405 shares; 2024Q4: 400,000 shares; 2025Q1: 177,022 shares; 2025Q2: 95,186 shares; 2025Q3: 95,186 shares 95,186$16M1.92%0Timeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 285,900 shares; 2024Q4: 285,900 shares; 2025Q1: 285,900 shares; 2025Q2: 285,900 shares; 2025Q3: 285,900 shares 285,900$15.2M1.83%0Timeline
CDLRCADELER A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,400 shares; 2024Q4: 624,400 shares; 2025Q1: 624,400 shares; 2025Q2: 624,400 shares; 2025Q3: 624,400 shares 624,400$12.9M1.54%0Timeline
INSWINTERNATIONAL SEAWAYS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 194,763 shares; 2025Q2: 194,763 shares; 2025Q3: 194,763 shares 194,763$8.97M1.07%0Timeline
TENTSAKOS ENERGY NAVIGATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 190,977 shares; 2025Q2: 190,977 shares; 2025Q3: 190,977 shares 190,977$4.24M0.51%0Timeline
MUXMCEWEN INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 112,999 shares; 2024Q4: 112,998 shares; 2025Q1: 113,000 shares; 2025Q2: 113,000 shares; 2025Q3: 113,000 shares 113,000$1.93M0.23%0Timeline
XMESPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 152,085 shares; 2025Q3: 4,076 shares 4,076$380K0.05%-148,009Timeline

Sold out in Q3 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
HBMHUDBAY MINERALS INC7,275,553$77.2Mshares
XLBSELECT SECTOR SPDR TR227,517$20Mshares
PPTAPERPETUA RESOURCES CORP890,459$10.8Mshares
Vital Energy IncVital Energy Inc530,981$8.54Mshares
HLHECLA MINING COMPANY1,000,000$5.99Mshares
CIVICIVITAS RESOURCES INC200,000$5.5Mshares
CDECOEUR MNG INC500,000$4.43Mshares
XLESELECT SECTOR SPDR TR18,030$1.53Mshares

How Q3 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001847739-25-000002 base2025-11-14acceptance time not in the bulk data set