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Condire Management, LP

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13F filer, CIK 1847739, DALLAS, TX

Condire Management, LP reported $957,966,827 across 22 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-02-17. Its ten largest share positions make up 82.7% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001847739-26-000001

Period
2025-12-31
Reported value
$958M
Holdings
22
Top 10 weight
82.7%
New
4
Sold out
2

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BTGnew+11,265,300$50.8M
EXKadded+1,503,543$14.1M
NEXMnew+3,513,500$13.7M
XMEadded+118,375$12.3M
ELEnew+686,246$11.6M

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
SSRMexited-3,353,891-$81.9M
NGDreduced-2,602,898-$22.7M
INSWexited-194,763-$8.97M
CHRDreduced-25,755-$2.39M

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, Q4 2025

Share positions as resolved from 13F-HR 0001847739-26-000001, largest first. % of portfolio is the value over $957,966,827, 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; 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; 2025Q4: 27,437,020 shares 27,437,020$239M24.95%-2,602,898Timeline
IAUXI-80 GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 80,000,000 shares; 2025Q3: 80,100,000 shares; 2025Q4: 80,241,558 shares 80,241,558$117M12.23%+141,558Timeline
ODVOSISKO DEVELOPMENT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 23,112,036 shares 23,112,036$80.7M8.42%+1,147,192Timeline
SBSWSIBANYE STILLWATER LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 5,244,469 shares 5,244,469$74.7M7.8%+279,540Timeline
VALVALARIS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,158,651 shares 1,158,651$58.4M6.1%0Timeline
BTGB2GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11,265,300 shares 11,265,300$50.8M5.3%newTimeline
CHRDCHORD ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 547,721 shares; 2024Q4: 547,721 shares; 2025Q1: 531,291 shares; 2025Q2: 531,291 shares; 2025Q3: 531,291 shares; 2025Q4: 505,536 shares 505,536$46.9M4.89%-25,755Timeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,279,968 shares 1,279,968$44.3M4.62%0Timeline
EXKENDEAVOUR SILVER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,000,000 shares; 2025Q3: 3,000,000 shares; 2025Q4: 4,503,543 shares 4,503,543$42.3M4.42%+1,503,543Timeline
I-80 GOLD CORPI-80 GOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 40,846,499 shares; 2025Q4: 41,339,999 shares 41,339,999$38M3.97%+493,500
RYAMRAYONIER ADVANCED MATLS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 6,358,877 shares 6,358,877$37.5M3.91%+2,747Timeline
CVECENOVUS ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q4: 1,100,000 shares 1,100,000$18.6M1.94%0Timeline
CNRCORE NATURAL RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 201,663 shares; 2025Q2: 201,663 shares; 2025Q3: 201,663 shares; 2025Q4: 201,663 shares 201,663$17.8M1.86%0Timeline
AEMAGNICO EAGLE MINES LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 546,405 shares; 2024Q4: 400,000 shares; 2025Q1: 177,022 shares; 2025Q2: 95,186 shares; 2025Q3: 95,186 shares; 2025Q4: 95,186 shares 95,186$16.1M1.68%0Timeline
TDWTIDEWATER INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 285,900 shares; 2024Q4: 285,900 shares; 2025Q1: 285,900 shares; 2025Q2: 285,900 shares; 2025Q3: 285,900 shares; 2025Q4: 285,900 shares 285,900$14.4M1.51%0Timeline
NEXMNEXMETALS MINING CORP.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 3,513,500 shares 3,513,500$13.7M1.43%newTimeline
XMESPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 152,085 shares; 2025Q3: 4,076 shares; 2025Q4: 122,451 shares 122,451$12.7M1.32%+118,375Timeline
ELEELEMENTAL RTY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 686,246 shares 686,246$11.6M1.22%newTimeline
CDLRCADELER A SQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 624,400 shares; 2024Q4: 624,400 shares; 2025Q1: 624,400 shares; 2025Q2: 624,400 shares; 2025Q3: 624,400 shares; 2025Q4: 624,400 shares 624,400$11.6M1.21%0Timeline
XOPSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 140,000 shares; 2024Q4: 84,693 shares; 2025Q1: 87,889 shares; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 41,028 shares 41,028$5.18M0.54%newTimeline
TENTSAKOS ENERGY NAVIGATION LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 190,977 shares; 2025Q2: 190,977 shares; 2025Q3: 190,977 shares; 2025Q4: 190,977 shares 190,977$4.28M0.45%0Timeline
MUXMCEWEN INC.Quarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 112,999 shares; 2024Q4: 112,998 shares; 2025Q1: 113,000 shares; 2025Q2: 113,000 shares; 2025Q3: 113,000 shares; 2025Q4: 113,000 shares 113,000$2.09M0.22%0Timeline

Sold out in Q4 2025

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

SecurityShares beforeValue beforeType
SSRMSSR MINING IN3,353,891$81.9Mshares
INSWINTERNATIONAL SEAWAYS INC194,763$8.97Mshares

How Q4 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 0001847739-26-000001 base2026-02-17acceptance time not in the bulk data set