LUMINUS MANAGEMENT LLC Quant / Systematic

CIK: 0001279151 · Show all filings

Period: Q4 2025 (← Previous)

Filing Date: Feb 17, 2026

Total Value ($000): $114,197 (100.0% shares, 0.0% debt)

Holdings (22)

New Positions (11)

VG VENTURE GLOBAL INC 16.1%

Value ($000) $18,414 Shares 2,700,000 Est. Cost $8.31 Unrealized 0.0%

AXTA AXALTA COATING SYS LTD 5.6%

Value ($000) $6,417 Shares 198,612 Est. Cost $29.34 Unrealized 0.0%

— VENTURE GLOBAL INC 5.1%

Value ($000) $5,797 Shares 850,000 Est. Cost — Unrealized —

SOLS SOLSTICE ADVANCED MATLS INC 4.2%

Value ($000) $4,767 Shares 98,119 Est. Cost $47.08 Unrealized 0.0%

WLK WESTLAKE CORPORATION 2.3%

Value ($000) $2,602 Shares 35,189 Est. Cost $70.79 Unrealized 0.0%

ACET ADICET BIO INC 0.4%

Value ($000) $501 Shares 59,558 Est. Cost $11.05 Unrealized 0.0%

DHX DHI GROUP INC 0.4%

Value ($000) $408 Shares 263,098 Est. Cost $1.89 Unrealized 0.0%

FRMI FERMI INC 0.3%

Value ($000) $320 Shares 40,000 Est. Cost $19.51 Unrealized 0.0%

VTGN VISTAGEN THERAPEUTICS INC 0.2%

Value ($000) $232 Shares 350,000 Est. Cost $3.61 Unrealized 0.0%

MREO MEREO BIOPHARMA GROUP PLC 0.1%

Value ($000) $165 Shares 395,000 Est. Cost $0.42 Unrealized —

CRCL CIRCLE INTERNET GROUP INC 0.1%

Value ($000) $79 Shares 1,000 Est. Cost $103.35 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
VG	VENTURE GLOBAL INC	2,700,000	$18,414	16.1%	$8.31	0.0%	COM CL A	92333F101
AXTA	AXALTA COATING SYS LTD	198,612	$6,417	5.6%	$29.34	0.0%	COM	G0750C108
—	VENTURE GLOBAL INC	850,000	$5,797	5.1%	—	—	CALL	92333F901
SOLS	SOLSTICE ADVANCED MATLS INC	98,119	$4,767	4.2%	$47.08	0.0%	COM	83443Q103
WLK	WESTLAKE CORPORATION	35,189	$2,602	2.3%	$70.79	0.0%	COM	960413102
ACET	ADICET BIO INC	59,558	$501	0.4%	$11.05	0.0%	COM	007002207
DHX	DHI GROUP INC	263,098	$408	0.4%	$1.89	0.0%	COM	23331S100
FRMI	FERMI INC	40,000	$320	0.3%	$19.51	0.0%	COM	314911108
VTGN	VISTAGEN THERAPEUTICS INC	350,000	$232	0.2%	$3.61	0.0%	COM	92840H400
MREO	MEREO BIOPHARMA GROUP PLC	395,000	$165	0.1%	$0.42	—	SPON ADS	589492107
CRCL	CIRCLE INTERNET GROUP INC	1,000	$79	0.1%	$103.35	0.0%	COM CL A	172573107

Increased Positions (6)

AVNT AVIENT CORPORATION 5.4%

Value ($000) $6,180 (+304.0%) Shares 197,828 (+326.1%) Est. Cost $31.56 Unrealized -2.6%

KWR QUAKER HOUGHTON 9.3%

Value ($000) $10,645 (+33.6%) Shares 77,527 (+28.2%) Est. Cost $124.14 Unrealized +8.8%

GXO GXO LOGISTICS INCORPORATED 5.0%

Value ($000) $5,694 (+86.4%) Shares 108,169 (+87.3%) Est. Cost $45.77 Unrealized +14.8%

SGMO SANGAMO THERAPEUTICS INC 0.4%

Value ($000) $487 (+189.1%) Shares 1,158,761 (+363.5%) Est. Cost $0.53 Unrealized -0.4%

VXX BARCLAYS BANK PLC - IPATH SERIES B S&P 500 VIX 1.3%

Value ($000) $1,456 (+4.5%) Shares 55,000 (+31.0%) Est. Cost $38.95 Unrealized —

MXCT MAXCYTE INC 0.3%

Value ($000) $367 (+3.1%) Shares 236,495 (+5.1%) Est. Cost $1.73 Unrealized -7.7%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AVNT	AVIENT CORPORATION	197,828 (+326.1%)	$6,180 (+304.0%)	5.4%	$31.56	-2.6%	COM	05368V106
KWR	QUAKER HOUGHTON	77,527 (+28.2%)	$10,645 (+33.6%)	9.3%	$124.14	+8.8%	COM	747316107
GXO	GXO LOGISTICS INCORPORATED	108,169 (+87.3%)	$5,694 (+86.4%)	5.0%	$45.77	+14.8%	COM	36262G101
SGMO	SANGAMO THERAPEUTICS INC	1,158,761 (+363.5%)	$487 (+189.1%)	0.4%	$0.53	-0.4%	COM	800677106
VXX	BARCLAYS BANK PLC - IPATH SERIES B S&P 500 VIX	55,000 (+31.0%)	$1,456 (+4.5%)	1.3%	$38.95	—	IPATH S&P 500 SH	06748M196
MXCT	MAXCYTE INC	236,495 (+5.1%)	$367 (+3.1%)	0.3%	$1.73	-7.7%	COM	57777K106

Exited Positions (8)

KEX KIRBY CORP 8.5%

Value ($000) $9,760 Shares 116,956 Est. Cost $101.46 Unrealized +0.2%

FUL FULLER H B CO 1.9%

Value ($000) $2,172 Shares 36,632 Est. Cost $59.56 Unrealized -1.8%

SOC SABLE OFFSHORE CORP 1.5%

Value ($000) $1,746 Shares 100,000 Est. Cost $23.33 Unrealized -59.5%

DQ DAQO NEW ENERGY CORP 1.0%

Value ($000) $1,125 Shares 40,000 Est. Cost $28.13 Unrealized —

REKR REKOR SYSTEMS INC 0.4%

Value ($000) $432 Shares 275,000 Est. Cost $1.58 Unrealized +29.3%

— MERSANA THERAPEUTICS INC 0.3%

Value ($000) $388 Shares 50,000 Est. Cost $0.30 Unrealized —

FBLG FIBROBIOLOGICS INC 0.3%

Value ($000) $346 Shares 26,629 Est. Cost $0.60 Unrealized -41.2%

— STARDUST PWR INC 0.3%

Value ($000) $326 Shares 105,000 Est. Cost $0.41 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
KEX	KIRBY CORP	116,956	$9,760	8.5%	$101.46	+0.2%	—	497266106
FUL	FULLER H B CO	36,632	$2,172	1.9%	$59.56	-1.8%	—	359694106
SOC	SABLE OFFSHORE CORP	100,000	$1,746	1.5%	$23.33	-59.5%	—	78574H104
DQ	DAQO NEW ENERGY CORP	40,000	$1,125	1.0%	$28.13	—	—	23703Q203
REKR	REKOR SYSTEMS INC	275,000	$432	0.4%	$1.58	+29.3%	—	759419104
—	MERSANA THERAPEUTICS INC	50,000	$388	0.3%	$0.30	—	—	59045L106
FBLG	FIBROBIOLOGICS INC	26,629	$346	0.3%	$0.60	-41.2%	—	31573L105
—	STARDUST PWR INC	105,000	$326	0.3%	$0.41	—	—	854936101

Decreased Positions (4)

CC CHEMOURS CO 3.7%

Value ($000) $4,222 (-84.9%) Shares 358,069 (-79.7%) Est. Cost $18.31 Unrealized -30.2%

OI O-I GLASS INC 20.3%

Value ($000) $23,217 (-12.5%) Shares 1,573,001 (-23.1%) Est. Cost $13.42 Unrealized -1.4%

SEE SEALED AIR CORP 13.0%

Value ($000) $14,873 (-15.7%) Shares 358,980 (-28.1%) Est. Cost $31.45 Unrealized +22.6%

LUCD LUCID DIAGNOSTICS INC 0.4%

Value ($000) $404 (-56.1%) Shares 370,969 (-59.4%) Est. Cost $2.94 Unrealized -62.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
CC	CHEMOURS CO	358,069 (-79.7%)	$4,222 (-84.9%)	3.7%	$18.31	-30.2%	COM	163851108
OI	O-I GLASS INC	1,573,001 (-23.1%)	$23,217 (-12.5%)	20.3%	$13.42	-1.4%	COM	67098H104
SEE	SEALED AIR CORP	358,980 (-28.1%)	$14,873 (-15.7%)	13.0%	$31.45	+22.6%	COM	81211K100
LUCD	LUCID DIAGNOSTICS INC	370,969 (-59.4%)	$404 (-56.1%)	0.4%	$2.94	-62.0%	COM	54948X109

Unchanged Positions (1)

BATL BATTALION OIL CORP 6.1%

Value ($000) $6,951 Shares 6,151,448 Est. Cost $9.80 Unrealized -88.3%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
BATL	BATTALION OIL CORP	6,151,448	$6,951	6.1%	$9.80	-88.3%	COM	07134L107