1y return+35.8%S&P 500 +20.9%
3y return+62.4%S&P 500 +68.5%
5y return+65.9%S&P 500 +74.5%
These returns are for its stock picks as disclosed on Form 13F: last quarter's holdings, valued at this quarter's prices. They miss trades within each quarter, short positions, options, bonds, cash and fees, so they aren't the returns its clients got.
$100 invested in its stock picks
Since March 31, 2021: $162 against $188 in the S&P 500.2
Condire Management, LPS&P 500 (SPY)
Top holdings
At the end of June 30, 2026. Change is in shares since the quarter before.2
| Stock | Value | Share of portfolio | Change |
|---|---|---|---|
| CDECoeur Mng Inc | $162.3M | 17.2% | |
| IAUXI-80 Gold Corp | $118.2M | 12.5% | |
| OGCOceanagold Corp | $87.4M | 9.3% | New |
| Valaris LtdCUSIP G9460G101 | $77.5M | 8.2% | −7.9% |
| Osisko Development CorpCUSIP 68828E809 | $61.6M | 6.5% | |
| CHRDChord Energy Corporation | $56.8M | 6.0% | −10.8% |
| RYAMRayonier Advanced Matls Inc | $50.0M | 5.3% | |
| Seadrill LtdCUSIP G7997W102 | $48.4M | 5.1% | |
| SBSWSibanye Stillwater Ltd | $44.5M | 4.7% | |
| BTGB2gold Corp | $43.3M | 4.6% | |
| EXKEndeavour Silver Corp | $37.3M | 4.0% | |
| AAUCAllied Gold Corp | $33.0M | 3.5% | New |
| IAUX/WSI-80 Gold Corp | $32.4M | 3.4% | |
| TDWTidewater Inc New | $19.0M | 2.0% | |
| CNRCore Natural Resources Inc | $16.1M | 1.7% | |
| CVECenovus Energy Inc | $14.9M | 1.6% | −45.5% |
| CDLRCadeler A S | $11.8M | 1.3% | −13.5% |
| ELEElemental Rty Corp | $11.2M | 1.2% | −4.9% |
| NEXMNexmetals Mining Corp. | $8.3M | 0.9% | |
| Tsakos Energy Navigation LtdCUSIP G9108L173 | $6.2M | 0.7% | −8.4% |
| MUXMcewen Inc. | $2.0M | 0.2% |
Best picks still held
How each current holding has done since the quarter it first appeared in its filings (up to six years back).
| Stock | Held since | Return since | Now worth |
|---|---|---|---|
| IAUXI-80 Gold Corp | June 30, 2025 | +140.6% | $118.2M |
| Valaris LtdCUSIP G9460G101 | September 30, 2021 | +108.1% | $77.5M |
| Tsakos Energy Navigation LtdCUSIP G9108L173 | March 31, 2025 | +107.3% | $6.2M |
| MUXMcewen Inc. | September 30, 2024 | +94.9% | $2.0M |
| IAUX/WSI-80 Gold Corp | September 30, 2025 | +73.3% | $32.4M |
| EXKEndeavour Silver Corp | June 30, 2025 | +68.3% | $37.3M |
| Osisko Development CorpCUSIP 68828E809 | December 31, 2024 | +50.9% | $61.6M |
| CVECenovus Energy Inc | March 31, 2024 | +24.1% | $14.9M |
| CDLRCadeler A S | December 31, 2023 | +19.1% | $11.8M |
| Seadrill LtdCUSIP G7997W102 | December 31, 2022 | +15.9% | $48.4M |
Quarter by quarter
| Quarter | Its picks | S&P 500 |
|---|---|---|
| June 30, 2026 | −17.8% | +14.8% |
| March 31, 2026 | +3.6% | −4.6% |
| December 31, 2025 | +13.7% | +2.4% |
| September 30, 2025 | +40.3% | +7.8% |
| June 30, 2025 | +10.9% | +10.5% |
| March 31, 2025 | −5.3% | −4.6% |
| December 31, 2024 | −9.2% | +2.1% |
| September 30, 2024 | −0.5% | +5.4% |
| June 30, 2024 | +4.3% | +4.0% |
| March 31, 2024 | +10.6% | +10.0% |
| December 31, 2023 | +4.7% | +11.2% |
| September 30, 2023 | +4.4% | −3.6% |
| June 30, 2023 | −0.5% | +8.3% |
| March 31, 2023 | −3.0% | +7.0% |
| December 31, 2022 | +14.9% | +7.1% |
| September 30, 2022 | +1.7% | −5.3% |
| June 30, 2022 | −24.2% | −16.5% |
| March 31, 2022 | +30.6% | −4.9% |
| December 31, 2021 | +7.8% | +10.7% |
| September 30, 2021 | −15.1% | +0.3% |
Sources
Every number on this page points here. Each one links to the public record.
- 1SEC EDGAR: Condire Management, LP Form 13F filingshttps://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1847739&type=13F-HR&dateb=&owner=include&count=40CIK 1847739
- 2SEC: 13F for the quarter ended June 30, 2026https://www.sec.gov/Archives/edgar/data/1847739/000184773926000003/Filed August 14, 2026 · accession 0001847739-26-000003