Managers / Q1 2021 · view latest →
Condire Management, LP
CIK 0001847739 · 1717 MCKINNEY AVE, SUITE 850, DALLAS, TX, 75202 · (214) 572-8921
Summary
Condire Management, LP reported $335M in U.S.-listed holdings across 17 positions for Q1 2021.
The portfolio is heavily concentrated: SBSW alone accounts for 25.1% of reported value.
Portfolio Metrics
Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.
Reported Value by Quarter
Portfolio Composition
- Common Stock · 54.0% · $181M
- ADR · 32.9% · $110M
- Other · 9.1% · $31M
- ETP · 4.0% · $13M
Quarter-over-Quarter Changes full breakdown →
| Issuer | Move | Share Δ | Shares now | Value Δ | Value now |
|---|---|---|---|---|---|
| SBSWSIBANYE STILLWATER LTD | NEW | +4.70M | 4.70M | +$84M | $84M |
| AGFIRST MAJESTIC SILVER CORP | NEW | +2.12M | 2.12M | +$33M | $33M |
| KGCKINROSS GOLD CORP | NEW | +4.80M | 4.80M | +$32M | $32M |
| GSC1EURGOLDEN STAR RES LTD CDA | NEW | +9.99M | 9.99M | +$29M | $29M |
| HAMHARMONY GOLD MINING CO LTD | NEW | +6.01M | 6.01M | +$26M | $26M |
| FORTUNA SILVER MINES INC | NEW | +3.41M | 3.41M | +$22M | $22M |
| SSRMSSR MNG INC | NEW | +1.51M | 1.51M | +$22M | $22M |
| ENETI INC | NEW | +908.4K | 908.4K | +$19M | $19M |
Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.
Holdings — Q1 2021
| # | Issuer | Class | % Portfolio | Value ↓ | Shares |
|---|---|---|---|---|---|
| 1 | SBSWSIBANYE STILLWATER LTDhistory → | SPONSORED ADR | 25.09% | $84M | 4.70M |
| 2 | AGFIRST MAJESTIC SILVER CORPhistory → | COM | 9.87% | $33M | 2.12M |
| 3 | KGCKINROSS GOLD CORPhistory → | COM | 9.57% | $32M | 4.80M |
| 4 | GSC1EURGOLDEN STAR RES LTD CDAhistory → | COM | 8.81% | $29M | 9.99M |
| 5 | HAMHARMONY GOLD MINING CO LTDhistory → | SPONSORED ADR | 7.83% | $26M | 6.01M |
| 6 | FORTUNA SILVER MINES INC | COM | 6.59% | $22M | 3.41M |
| 7 | SSRMSSR MNG INChistory → | COM | 6.44% | $22M | 1.51M |
| 8 | ENETI INC | COM | 5.71% | $19M | 908.4K |
| 9 | TDWTIDEWATER INC NEWhistory → | COM | 3.78% | $13M | 1.01M |
| 10 | MCEWEN MNG INC | COM | 3.44% | $12M | 11.07M |
| 11 | PVG1EURPRETIUM RES INChistory → | COM | 3.29% | $11M | 1.06M |
| 12 | CDECOEUR MNG INChistory → | COM NEW | 2.59% | $9M | 960.3K |
| 13 | HLHECLA MNG COhistory → | COM | 2.16% | $7M | 1.27M |
| 14 | PROSHARES TR | ULTRAPRO QQQ | 2.11% | $7M | 77.2K |
| 15 | DIREXION SHS ETF TR | DLY SMCAP BULL3X · SP BIOTCH BL NEW | 1.86% | $6M | 74.0K |
| 16 | SKYWSKYWEST INC | COM | 0.87% | $3M | 53.6K |
Filing History
| Quarter | Reported Value | Positions | Filed | Type | Links |
|---|---|---|---|---|---|
| Q1 2026 | $1.0B | 19 | May 15, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q4 2025 | $958M | 22 | Feb 17, 2026 | 13F-HR | changes · EDGAR ↗ |
| Q3 2025 | $835M | 20 | Nov 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q2 2025 | $694M | 27 | Aug 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q1 2025 | $669M | 22 | May 15, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q4 2024 | $691M | 20 | Feb 14, 2025 | 13F-HR | changes · EDGAR ↗ |
| Q3 2024 | $796M | 17 | Nov 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q2 2024 | $740M | 16 | Aug 14, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q1 2024 | $741M | 19 | May 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q4 2023 | $652M | 18 | Feb 15, 2024 | 13F-HR | changes · EDGAR ↗ |
| Q3 2023 | $588M | 14 | Nov 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q2 2023 | $496M | 13 | Aug 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q1 2023 | $502M | 15 | May 15, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q4 2022 | $548M | 18 | Feb 14, 2023 | 13F-HR | changes · EDGAR ↗ |
| Q3 2022 | $551M | 19 | Nov 21, 2022 | RESTATEMENT | changes · EDGAR ↗ |
| Q2 2022 | $495M | 21 | Aug 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q1 2022 | $464M | 20 | May 16, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q4 2021 | $503M | 33 | Feb 14, 2022 | 13F-HR | changes · EDGAR ↗ |
| Q3 2021 | $392M | 19 | Nov 15, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q2 2021 | $467M | 22 | Aug 16, 2021 | 13F-HR | changes · EDGAR ↗ |
| Q1 2021 | $335M | 17 | May 17, 2021 | 13F-HR | changes · EDGAR ↗ |
13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.