Hartree Partners, LP

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 12, 2025), Hartree Partners, LP reported 54 stock positions worth $267.8 million. Its top holding was Star (SGU) at 13.5% of the portfolio, followed by Global Partners (GLP, 8.8%) and Vistra (VST, 7.4%). Compared with Q3 2024, it opened 23 new positions, sold out of 22, added to 10 and reduced 17. The biggest buy was a new position in Energy Transfer (ET) and the biggest sale an exit from Scorpio Tankers (STNG).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001597857
Portfolio Value
$267.8M (Q4 2024)
SEC Filing
0001597857-25-000001 ↗ filed Feb 12, 2025

Holdings Value

0$100.0M$200.0M$300.0M$400.0M$500.0M Q1 2024: $384.6M Q1 2024 Q2 2024: $398.1M Q2 2024 Q3 2024: $346.9M Q3 2024 Q4 2024: $267.8M $267.8M Q4 2024 Q1 2025: $275.7M Q1 2025 Q2 2025: $352.8M Q2 2025 Q3 2025: $288.0M Q3 2025 Q4 2025: $273.6M Q4 2025 Q1 2026: $460.4M Q1 2026 Q2 2026: $464.8M Q2 2026

Holdings 54 stocks · $267.8M
SGU Star Group LP 13.46% 3,123,253 $36.0M No change
GLP Global Partners LP 8.83% 508,080 $23.7M Reduce -28.3%
VST Vistra Corp. 7.38% 143,400 $19.8M Reduce -13.0%
ET Energy Transfer LP 6.01% 821,000 $16.1M New
FRO Frontline PLC 5.62% 1,061,000 $15.0M Add +482.6%
SDRL Seadrill Limited 3.95% 271,450 $10.6M Reduce -15.0%
TECK Teck Resources Ltd.-CLS B 3.93% 259,787 $10.5M Reduce -52.5%
HCC Warrior Met Coal Inc. 3.27% 161,513 $8.8M New
X United States Steel Corp. 3.27% 257,606 $8.8M Add +140.9%
NE Noble Corp. PLC 3.25% 277,501 $8.7M Reduce -22.3%
SW Smurfit Westrock PLC 3.16% 157,299 $8.5M Add +68.6%
VRN Veren Inc. 3.03% 1,580,000 $8.1M Reduce -20.1%
NVDA Nvidia Corp. 2.43% 48,500 $6.5M New
EXE Expand Energy Corp. 2.30% 61,938 $6.2M Reduce -82.1%
ETR Entergy Corp. 2.27% 80,000 $6.1M New
CTRA Coterra Energy Inc. 2.10% 220,000 $5.6M New
PDS Precision Drilling Corp. 1.94% 85,000 $5.2M No change
MEOH Methanex Corp. 1.85% 99,038 $4.9M Reduce -20.8%
OVV Ovintiv Inc. 1.73% 114,463 $4.6M New
PR Permian Resources Corp. Class A 1.63% 303,800 $4.4M Reduce -40.1%
NI Nisource Inc. 1.49% 108,200 $4.0M New
CCJ Cameco Corp. 1.32% 69,000 $3.5M New
AEE Ameren Corporation 1.28% 38,350 $3.4M New
SHMD Schmid Group NV 1.19% 1,058,000 $3.2M Add +2.2%
CNQ Canadian Natural Resources 1.15% 100,000 $3.1M Add +1378.0%
IAG Iamgold Corp. 1.04% 538,766 $2.8M Add +56.2%
VTOL Bristow Group Inc. 0.95% 74,355 $2.6M New
CGAU Centerra Gold Inc. 0.87% 410,000 $2.3M Reduce -29.1%
PCG P G & E Corp. 0.75% 100,000 $2.0M New
EXC Exelon Corp. 0.75% 53,000 $2.0M New
DAR Darling Ingredients Inc. 0.57% 45,000 $1.5M Reduce -60.9%
ASTL Algoma Steel Group Inc. 0.56% 152,751 $1.5M Add +44.4%
EFXT Enerflex Ltd. 0.56% 150,000 $1.5M Reduce -70.0%
EVRG Evergy Inc. 0.55% 24,000 $1.5M New
SHEL Shell PLC-ADR 0.55% 23,500 $1.5M No change
HBM Hudbay Minerals Inc. 0.54% 180,000 $1.5M Reduce -70.1%
HAFN Hafnia Ltd. 0.51% 248,030 $1.4M Add +625.1%
EQX Equinox Gold Corp. 0.49% 261,248 $1.3M Add +248.3%
GFR Greenfire Resources Ltd. 0.42% 159,080 $1.1M Reduce -68.8%
IDA Idacorp Inc. 0.35% 8,600 $940K New
ETN Eaton Corp. PLC 0.34% 2,750 $913K No change
VRT Vertiv Holdings Co. Class A 0.33% 7,750 $880K New
CENX Century Aluminum Company 0.31% 45,274 $825K New
ARCH Arch Resources Inc. 0.26% 5,000 $706K Reduce -93.2%
MAC COPPER LTD 0.20% 50,186 $533K Add +0.4%
NXE Nexgen Energy Ltd. 0.19% 78,268 $517K Reduce -66.7%
FSLR First Solar Inc. 0.18% 2,800 $493K Reduce -50.0%
OGE Oge Energy Corp. 0.18% 11,700 $483K New
SRE Sempra 0.18% 5,450 $478K New
STEEL DYNAMICS INC 0.15% 500 $390K New
AA Alcoa Corp. 0.14% 10,000 $378K New
TK Teekay Corp. Ltd. 0.11% 40,800 $283K New
TNK Teekay Tankers Ltd. Class A 0.10% 6,700 $267K New
SLI Standard Lithium Ltd. 0.03% 50,000 $73K New

Options reported separately and not counted above: ZIM INTEGRATED SHIPPING SERV calls ($1.4M), NOBLE CORP PLC puts ($315K), BRLSW calls ($47K), MLECW calls ($12K), OUSTZ calls ($10K), RFACW calls ($7K).

Other holdings (4): bonds, preferreds, convertibles and warrants · $654K (not counted above)
SecurityClassShares / PrincipalValueChange
SHMDW Schmid Group NV -28 *W EXP 04/30/202 2,411,100$603KReduce -1.5%
RFACR RF Acquisition Corp.- Rights RIGHT 05/01/2028 225,000$36KNo change
ABVWF Above Food Ingredients- 29 *W EXP 06/28/202 310,000$9KNo change
SLXNW Biomotion Sciences-CW29 *W EXP 08/15/202 187,500$6KNo change

Total filed on the 13F, all lines: $268.4M.

Portfolio Sells Q3 2024 → Q4 2024
STNG Scorpio Tankers Inc. Sold out 0.00% −8.01
EXE Expand Energy Corp. Reduce -82.1% 2.30% −5.90
TLN Talen Energy Corp. Sold out 0.00% −5.88
TECK Teck Resources Ltd.-CLS B Reduce -52.5% 3.93% −4.30
ARCH Arch Resources Inc. Reduce -93.2% 0.26% −2.67
DBRG Digitalbridge Group Inc. Sold out 0.00% −2.36
EQT Eqt Corp. Sold out 0.00% −2.12
PTEN Patterson-Uti Energy Inc. Sold out 0.00% −1.74
XPRO Expro Group Holdings NV Sold out 0.00% −1.10
HBM Hudbay Minerals Inc. Reduce -70.1% 0.54% −1.05
TAC Transalta Corp. Sold out 0.00% −0.91
PUMP Propetro Holding Corp. Sold out 0.00% −0.87
GFR Greenfire Resources Ltd. Reduce -68.8% 0.42% −0.67
GLP Global Partners LP Reduce -28.3% 8.83% −0.67
DAR Darling Ingredients Inc. Reduce -60.9% 0.57% −0.67
BP BP PLC-Spons ADR Sold out 0.00% −0.54
VRN Veren Inc. Reduce -20.1% 3.03% −0.48
NE Noble Corp. PLC Reduce -22.3% 3.25% −0.46
CVE Cenovus Energy Inc. Sold out 0.00% −0.38
PR Permian Resources Corp. Class A Reduce -40.1% 1.63% −0.36
CGAU Centerra Gold Inc. Reduce -29.1% 0.87% −0.33
WCC Wesco International Inc. Sold out 0.00% −0.32
EFXT Enerflex Ltd. Reduce -70.0% 0.56% −0.30
SGML Sigma Lithium Corp. Sold out 0.00% −0.30
AZUL S A Sold out 0.00% −0.30
NXE Nexgen Energy Ltd. Reduce -66.7% 0.19% −0.25
DHT DHT Holdings Inc. Sold out 0.00% −0.22
FSLR First Solar Inc. Reduce -50.0% 0.18% −0.22
BTU Peabody Energy Corp. Sold out 0.00% −0.18
NBR Nabors Industries Ltd. Sold out 0.00% −0.10
ZIM Zim Integrated Shipping Serv Sold out 0.00% −0.07
CLMT Calumet Inc. Sold out 0.00% −0.06
HSHP Himalaya Shipping Ltd. Sold out 0.00% −0.05
EXK Endeavour Silver Corp. Sold out 0.00% −0.03
LAR Lithium Americas Argentina C Sold out 0.00% −0.03
NGD New Gold Inc. Sold out 0.00% −0.01
SDRL Seadrill Limited Reduce -15.0% 3.95% +0.29
MEOH Methanex Corp. Reduce -20.8% 1.85% +0.36
VST Vistra Corp. Reduce -13.0% 7.38% +1.75

Portfolio Buys Q3 2024 → Q4 2024
ET Energy Transfer LP New 6.01% +6.01
FRO Frontline PLC Add +482.6% 5.62% +4.43
HCC Warrior Met Coal Inc. New 3.27% +3.27
NVDA Nvidia Corp. New 2.43% +2.43
ETR Entergy Corp. New 2.27% +2.27
X United States Steel Corp. Add +140.9% 3.27% +2.18
CTRA Coterra Energy Inc. New 2.10% +2.10
SW Smurfit Westrock PLC Add +68.6% 3.16% +1.83
OVV Ovintiv Inc. New 1.73% +1.73
NI Nisource Inc. New 1.49% +1.49
CCJ Cameco Corp. New 1.32% +1.32
AEE Ameren Corporation New 1.28% +1.28
CNQ Canadian Natural Resources Add +1378.0% 1.15% +1.09
VTOL Bristow Group Inc. New 0.95% +0.95
PCG P G & E Corp. New 0.75% +0.75
EXC Exelon Corp. New 0.75% +0.75
EVRG Evergy Inc. New 0.55% +0.55
IAG Iamgold Corp. Add +56.2% 1.04% +0.52
HAFN Hafnia Ltd. Add +625.1% 0.51% +0.44
EQX Equinox Gold Corp. Add +248.3% 0.49% +0.36
IDA Idacorp Inc. New 0.35% +0.35
VRT Vertiv Holdings Co. Class A New 0.33% +0.33
CENX Century Aluminum Company New 0.31% +0.31
ASTL Algoma Steel Group Inc. Add +44.4% 0.56% +0.25
OGE Oge Energy Corp. New 0.18% +0.18
SRE Sempra New 0.18% +0.18
STEEL DYNAMICS INC New 0.15% +0.15
SHMD Schmid Group NV Add +2.2% 1.19% +0.14
AA Alcoa Corp. New 0.14% +0.14
TK Teekay Corp. Ltd. New 0.11% +0.11
TNK Teekay Tankers Ltd. Class A New 0.10% +0.10
SLI Standard Lithium Ltd. New 0.03% +0.03
MAC COPPER LTD Add +0.4% 0.20% −0.00

Options Activity Q3 2024 → Q4 2024
EXPAND ENERGY CORPORATION call Sold out 370,000 $30.4Mbefore exit
XOP SS SPDR S&P Og Exp & Prod put Sold out 150,000 $19.7Mbefore exit
DHT HOLDINGS INC call Sold out 1,153,300 $12.7Mbefore exit
VISTRA CORP put Sold out 50,000 $5.9Mbefore exit
FREEPORT MCMORAN INC put Sold out 100,000 $5.0Mbefore exit
ZIM INTEGRATED SHIPPING SERV call Reduce -99.0% 5,250 $1.4M
NOBLE CORP PLC put New 3,000 $315K
BRLSW Oxus Acquisition Corp. -CW23 call Add +18.5% 592,574 $47K
GRDIW Griid Infrastructure Inc.-28 call Sold out 375,000 $13Kbefore exit
FNVWF Finnovate Acquisition -CW23 call Sold out 375,000 $8Kbefore exit

Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.

Notes & Other Activity Q3 2024 → Q4 2024
SHMDW Schmid Group NV -28 *W EXP 04/30/202 Reduce -1.5% 2,411,100 $603K
SABLE OFFSHORE CORP *W EXP 02/14/202 Sold out 100,000 $427Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 109$464.8MSGU, DVN, OVV, HDSN, TNK
Q1 2026 108$460.4MSGU, VG, OVV, HDSN, LNG
Q4 2025 59$273.6MSGU, HDSN, OVV, GLP, B
Q3 2025 68$288.0MSGU, HDSN, GLP, TNK, HAL
Q2 2025 54$352.8MSGU, HDSN, GLP, TNK, JBS
Q1 2025 42$275.7MSGU, GLP, HDSN, FRO, EXE
Q4 2024 54$267.8MSGU, GLP, VST, ET, FRO
Q3 2024 53$346.9MSGU, GLP, TECK, EXE, STNG
Q2 2024 56$398.1MSTNG, TECK, SGU, GLP, VST
Q1 2024 41$384.6MVST, STNG, TECK, GLP, SGU