Condire Management, LP Diversified Active

Location: Dallas, TX

CIK: 0001847739 · Show all filings

Period: Q4 2025 (← Previous) (Next →)

Filing Date: Feb 17, 2026

Total Value: $958M (100.0% shares, 0.0% debt)

Holdings (22)

NGD NEW GOLD INC CDA 24.9%

Value $239M Shares 27,437,020 Share Price $8.71 * Est. Cost/Share $1.90 Unrealized @ Report Date +296.2%

IAUX I-80 GOLD CORP 12.2%

Value $117M Shares 80,241,558 Share Price $1.46 * Est. Cost/Share $0.59 Unrealized @ Report Date +92.8%

ODV OSISKO DEVELOPMENT CORP 8.4%

Value $80.66M Shares 23,112,036 Share Price $3.49 Est. Cost/Share $2.05 Unrealized @ Report Date +67.2%

SBSW SIBANYE STILLWATER LTD 7.8%

Value $74.73M Shares 5,244,469 Share Price $14.25 Est. Cost/Share $13.01 Unrealized @ Report Date —

VAL VALARIS LTD 6.1%

Value $58.4M Shares 1,158,651 Share Price $50.40 * Est. Cost/Share $50.76 Unrealized @ Report Date +5.7%

BTG B2GOLD CORP 5.3%

Value $50.81M Shares 11,265,300 Share Price $4.51 * Est. Cost/Share $4.66 Unrealized @ Report Date 0.0%

CHRD CHORD ENERGY CORPORATION 4.9%

Value $46.86M Shares 505,536 Share Price $92.70 Est. Cost/Share $75.73 Unrealized @ Report Date +21.4%

SDRL SEADRILL LTD 4.6%

Value $44.29M Shares 1,279,968 Share Price $34.60 * Est. Cost/Share $37.43 Unrealized @ Report Date -16.8%

EXK ENDEAVOUR SILVER CORP 4.4%

Value $42.33M Shares 4,503,543 Share Price $9.40 * Est. Cost/Share $6.33 Unrealized @ Report Date +34.0%

IAUX/WS I-80 GOLD CORP 4.0%

Value $38.03M Shares 41,339,999 Share Price $0.92 Est. Cost/Share $0.46 Unrealized @ Report Date —

RYAM RAYONIER ADVANCED MATLS INC 3.9%

Value $37.45M Shares 6,358,877 Share Price $5.89 * Est. Cost/Share $6.44 Unrealized @ Report Date +0.9%

CVE CENOVUS ENERGY INC 1.9%

Value $18.61M Shares 1,100,000 Share Price $16.92 * Est. Cost/Share $16.19 Unrealized @ Report Date +7.2%

CNR CORE NATURAL RESOURCES INC 1.9%

Value $17.85M Shares 201,663 Share Price $88.51 * Est. Cost/Share $84.05 Unrealized @ Report Date +1.3%

AEM AGNICO EAGLE MINES LTD 1.7%

Value $16.14M Shares 95,186 Share Price $169.53 Est. Cost/Share $47.56 Unrealized @ Report Date +252.9%

TDW TIDEWATER INC NEW 1.5%

Value $14.44M Shares 285,900 Share Price $50.51 * Est. Cost/Share $64.75 Unrealized @ Report Date -18.4%

NEXM NEXMETALS MINING CORP. 1.4%

Value $13.74M Shares 3,513,500 Share Price $3.91 * Est. Cost/Share $4.27 Unrealized @ Report Date 0.0%

XME SPDR SERIES TRUST 1.3%

Value $12.69M Shares 122,451 Share Price $103.61 Est. Cost/Share $102.40 Unrealized @ Report Date —

ELE ELEMENTAL RTY CORP 1.2%

Value $11.65M Shares 686,246 Share Price $16.97 * Est. Cost/Share $15.55 Unrealized @ Report Date 0.0%

CDLR CADELER A S 1.2%

Value $11.61M Shares 624,400 Share Price $18.59 Est. Cost/Share $18.40 Unrealized @ Report Date —

XOP SPDR SERIES TRUST 0.5%

Value $5.18M Shares 41,028 Share Price $126.26 Est. Cost/Share $126.26 Unrealized @ Report Date —

TEN TSAKOS ENERGY NAVIGATION LTD 0.4%

Value $4.282M Shares 190,977 Share Price $22.42 * Est. Cost/Share $17.42 Unrealized @ Report Date +34.4%

MUX MCEWEN INC. 0.2%

Value $2.092M Shares 113,000 Share Price $18.51 Est. Cost/Share $9.23 Unrealized @ Report Date +101.5%

Ticker	Issuer	Shares	Value	%	Share Price	Est. Cost/Share	Unrealized @ Report Date	Class	CUSIP
NGD	NEW GOLD INC CDA	27,437,020	$239M	24.9%	$8.71 *	$1.90	+296.2%	COM	644535106
IAUX	I-80 GOLD CORP	80,241,558	$117M	12.2%	$1.46 *	$0.59	+92.8%	COM	44955L106
ODV	OSISKO DEVELOPMENT CORP	23,112,036	$80.66M	8.4%	$3.49	$2.05	+67.2%	COM NEW	68828E809
SBSW	SIBANYE STILLWATER LTD	5,244,469	$74.73M	7.8%	$14.25	$13.01	—	SPONSORED ADR	82575P107
VAL	VALARIS LTD	1,158,651	$58.4M	6.1%	$50.40 *	$50.76	+5.7%	CL A	G9460G101
BTG	B2GOLD CORP	11,265,300	$50.81M	5.3%	$4.51 *	$4.66	0.0%	COM	11777Q209
CHRD	CHORD ENERGY CORPORATION	505,536	$46.86M	4.9%	$92.70	$75.73	+21.4%	COM NEW	674215207
SDRL	SEADRILL LTD	1,279,968	$44.29M	4.6%	$34.60 *	$37.43	-16.8%	COM	G7997W102
EXK	ENDEAVOUR SILVER CORP	4,503,543	$42.33M	4.4%	$9.40 *	$6.33	+34.0%	COM	29258Y103
IAUX/WS	I-80 GOLD CORP	41,339,999	$38.03M	4.0%	$0.92	$0.46	—	*W EXP 11/16/202	44955L155
RYAM	RAYONIER ADVANCED MATLS INC	6,358,877	$37.45M	3.9%	$5.89 *	$6.44	+0.9%	COM	75508B104
CVE	CENOVUS ENERGY INC	1,100,000	$18.61M	1.9%	$16.92 *	$16.19	+7.2%	COM	15135U109
CNR	CORE NATURAL RESOURCES INC	201,663	$17.85M	1.9%	$88.51 *	$84.05	+1.3%	COM SHS	218937100
AEM	AGNICO EAGLE MINES LTD	95,186	$16.14M	1.7%	$169.53	$47.56	+252.9%	COM	008474108
TDW	TIDEWATER INC NEW	285,900	$14.44M	1.5%	$50.51 *	$64.75	-18.4%	COM	88642R109
NEXM	NEXMETALS MINING CORP.	3,513,500	$13.74M	1.4%	$3.91 *	$4.27	0.0%	COM NEW	65346E204
XME	SPDR SERIES TRUST	122,451	$12.69M	1.3%	$103.61	$102.40	—	STATE STREET SPD	78464A755
ELE	ELEMENTAL RTY CORP	686,246	$11.65M	1.2%	$16.97 *	$15.55	0.0%	COM NEW	28620K106
CDLR	CADELER A S	624,400	$11.61M	1.2%	$18.59	$18.40	—	SPON ADR	12738K109
XOP	SPDR SERIES TRUST	41,028	$5.18M	0.5%	$126.26	$126.26	—	STATE STREET SPD	78468R556
TEN	TSAKOS ENERGY NAVIGATION LTD	190,977	$4.282M	0.4%	$22.42 *	$17.42	+34.4%	SHS	G9108L173
MUX	MCEWEN INC.	113,000	$2.092M	0.2%	$18.51	$9.23	+101.5%	COM NEW	58039P305