Hartree Partners, LP

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Hartree Partners, LP reported 59 stock positions worth $273.6 million. Its top holding was Star (SGU) at 14.7% of the portfolio, followed by Hudson Technologies (HDSN, 9.5%) and Ovintiv (OVV, 8.9%). Compared with Q3 2025, it opened 23 new positions, sold out of 32, added to 16 and reduced 12. The biggest buy was a new position in Ovintiv (OVV) and the biggest sale Teekay Tankers Class A (TNK, shares −63%).

Most Recent 13F
Q2 2026
Location
NEW YORK, NY
CIK
0001597857
Portfolio Value
$273.6M (Q4 2025)
SEC Filing
0000899140-26-000217 ↗ filed Feb 17, 2026

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 Q4 2024 Q1 2025: $275.7M Q1 2025 Q2 2025: $352.8M Q2 2025 Q3 2025: $288.0M Q3 2025 Q4 2025: $273.6M $273.6M Q4 2025 Q1 2026: $460.4M Q1 2026 Q2 2026: $464.8M Q2 2026

Holdings 59 stocks · $273.6M
SGU Star Group LP 14.72% 3,400,907 $40.3M No change
HDSN Hudson Technologies Inc. 9.51% 3,800,000 $26.0M No change
OVV Ovintiv Inc. 8.86% 618,850 $24.3M New
GLP Global Partners LP 7.77% 508,080 $21.3M No change
B Barrick Mining Corp. 4.78% 300,000 $13.1M Add +300.0%
EXE Expand Energy Corp. 3.34% 82,779 $9.1M Reduce -23.3%
CENX Century Aluminum Company 3.10% 216,688 $8.5M Reduce -0.5%
TNK Teekay Tankers Ltd. Class A 2.90% 148,360 $7.9M Reduce -63.1%
IAG Iamgold Corp. 2.79% 462,844 $7.6M Reduce -30.2%
L Loews Corp. 2.46% 63,865 $6.7M Add +14.5%
DAC Danaos Corp. 2.18% 63,187 $6.0M Add +40.0%
PDS Precision Drilling Corp. 2.16% 82,500 $5.9M Reduce -17.5%
NEE Nextera Energy Inc. 2.11% 72,000 $5.8M New
JBS JBS NV-A 2.11% 400,000 $5.8M Reduce -45.7%
BTE Baytex Energy Corp. 2.08% 1,762,500 $5.7M New
EE Excelerate Energy Inc. Class A 2.01% 195,663 $5.5M Add +41.7%
TLN Talen Energy Corp. 1.92% 14,000 $5.2M Add +27.3%
LAFAU Lafayette Acquisition Corp. 1.83% 500,000 $5.0M New
SWX Southwest Gas Holdings Inc. 1.79% 61,200 $4.9M New
SHMD Schmid Group NV 1.69% 1,027,500 $4.6M Add +13.6%
BG Bunge Global SA 1.66% 51,000 $4.5M Add +13.3%
UGI Ugi Corp. 1.63% 119,300 $4.5M Add +326.1%
CVE Cenovus Energy Inc. 1.61% 260,000 $4.4M Add +131.1%
SBSW Sibanye-Stillwater Ltd.-ADR 1.34% 256,750 $3.7M Add +7.5%
ALB Albemarle Corp. 1.29% 24,949 $3.5M New
EQT Eqt Corp. 1.25% 63,915 $3.4M New
KRSP Rice Acquisition Corp. 3-A 0.88% 240,000 $2.4M New
CNH CNH Industrial NV 0.84% 250,000 $2.3M New
EQX Equinox Gold Corp. 0.76% 147,300 $2.1M Add +47.3%
DVN Devon Energy Corp. 0.75% 55,900 $2.0M Add +30.0%
KGC Kinross Gold Corp. 0.57% 55,000 $1.5M New
SHEL Shell PLC-ADR 0.56% 21,000 $1.5M Add +40.0%
CGAU Centerra Gold Inc. 0.55% 105,000 $1.5M Add +50.0%
CHRD Chord Energy Corp. 0.52% 15,475 $1.4M Add +342.1%
ECVT Ecovyst Inc. 0.48% 135,000 $1.3M New
DC Dakota Gold Corp. 0.42% 203,002 $1.2M No change
CDZI Cadiz Inc. 0.41% 200,000 $1.1M No change
MTDR Matador Resources Co. 0.39% 25,293 $1.1M Reduce -43.8%
CDE Coeur Mining Inc. 0.37% 57,500 $1.0M New
COP Conocophillips 0.33% 9,600 $899K New
GPRK Geopark Ltd. 0.31% 115,574 $856K New
FF Futurefuel Corp. 0.30% 260,000 $829K No change
LNG Cheniere Energy Inc. 0.28% 4,000 $778K New
GGB Gerdau SA -Spon ADR 0.28% 210,000 $775K Add +17.3%
NFGC New Found Gold Corp. 0.27% 250,000 $740K New
CORZ Core Scientific Inc. 0.27% 50,000 $728K New
ARLP Alliance Resource Partners 0.25% 28,887 $671K New
AU Anglogold Ashanti PLC 0.23% 7,500 $640K New
HBM Hudbay Minerals Inc. 0.22% 30,000 $596K Reduce -57.1%
VALE Vale SA-SP ADR 0.14% 30,000 $391K New
EOG EOG Resources Inc. 0.13% 3,350 $352K New
TRGP Targa Resources Corp. 0.13% 1,900 $351K Reduce -68.1%
GPOR Gulfport Energy Corp. 0.11% 1,500 $312K Reduce -25.0%
MT Arcelormittal-NY Registered 0.09% 5,224 $238K New
GPRE Green Plains Inc. 0.08% 23,000 $225K Reduce -54.0%
SLI Standard Lithium Ltd. 0.08% 50,000 $224K No change
EAF Graftech International Ltd. 0.06% 10,000 $155K No change
TASEKO MINES LTD 0.02% 11,500 $65K Reduce -42.5%
NAK Northern Dynasty Minerals 0.01% 20,000 $39K New

Options reported separately and not counted above: MATX puts ($1.2M), OUNZ puts ($930K), ALB puts ($721K).

Portfolio Sells Q3 2025 → Q4 2025
TNK Teekay Tankers Ltd. Class A Reduce -63.1% 2.90% −4.17
HAL Halliburton Co. Sold out 0.00% −4.03
USO United States Oil Fund LP Sold out 0.00% −3.20
DAR Darling Ingredients Inc. Sold out 0.00% −2.14
DBRG Digitalbridge Group Inc. Sold out 0.00% −2.00
MEOH Methanex Corp. Sold out 0.00% −1.86
OI O-I Glass Inc. Sold out 0.00% −1.82
XEL Xcel Energy Inc. Sold out 0.00% −1.76
JBS JBS NV-A Reduce -45.7% 2.11% −1.71
NVDA Nvidia Corp. Sold out 0.00% −1.65
GNRC Generac Holdings Inc. Sold out 0.00% −1.05
NGD New Gold Inc. Sold out 0.00% −1.02
HAFN Hafnia Ltd. Sold out 0.00% −0.92
NEM Newmont Corp. Sold out 0.00% −0.85
EXK Endeavour Silver Corp. Sold out 0.00% −0.75
EXE Expand Energy Corp. Reduce -23.3% 3.34% −0.64
EVRG Evergy Inc. Sold out 0.00% −0.58
BWXT BWX Technologies Inc. Sold out 0.00% −0.38
FCX Freeport-McMoran Inc. Sold out 0.00% −0.38
MTDR Matador Resources Co. Reduce -43.8% 0.39% −0.31
AA Alcoa Corp. Sold out 0.00% −0.29
META Meta Platforms Inc. Class A Sold out 0.00% −0.28
TRGP Targa Resources Corp. Reduce -68.1% 0.13% −0.22
DCH Dauch Corporation Sold out 0.00% −0.21
NRG NRG Energy Inc. Sold out 0.00% −0.20
SPY SS SPDR S&P 500 ETF Trust-US Sold out 0.00% −0.20
DTM DT Midstream Inc. Sold out 0.00% −0.20
TAC Transalta Corp. Sold out 0.00% −0.19
IAG Iamgold Corp. Reduce -30.2% 2.79% −0.19
LNT Alliant Energy Corp. Sold out 0.00% −0.19
OGE Oge Energy Corp. Sold out 0.00% −0.16
HBM Hudbay Minerals Inc. Reduce -57.1% 0.22% −0.15
XOP SS SPDR S&P Og Exp & Prod Sold out 0.00% −0.14
VST Vistra Corp. Sold out 0.00% −0.13
FANG Diamondback Energy Inc. Sold out 0.00% −0.09
BKV BKV Corporation Sold out 0.00% −0.09
SHLS Shoals Technologies Group -A Sold out 0.00% −0.08
KEX Kirby Corp. Sold out 0.00% −0.07
GPRE Green Plains Inc. Reduce -54.0% 0.08% −0.07
SLSR Solaris Resources Inc. Sold out 0.00% −0.02
GPOR Gulfport Energy Corp. Reduce -25.0% 0.11% −0.01
TASEKO MINES LTD Reduce -42.5% 0.02% −0.01
PDS Precision Drilling Corp. Reduce -17.5% 2.16% +0.21
CENX Century Aluminum Company Reduce -0.5% 3.10% +0.88

Portfolio Buys Q3 2025 → Q4 2025
OVV Ovintiv Inc. New 8.86% +8.86
B Barrick Mining Corp. Add +300.0% 4.78% +3.92
NEE Nextera Energy Inc. New 2.11% +2.11
BTE Baytex Energy Corp. New 2.08% +2.08
LAFAU Lafayette Acquisition Corp. New 1.83% +1.83
SWX Southwest Gas Holdings Inc. New 1.79% +1.79
UGI Ugi Corp. Add +326.1% 1.63% +1.31
ALB Albemarle Corp. New 1.29% +1.29
EQT Eqt Corp. New 1.25% +1.25
SHMD Schmid Group NV Add +13.6% 1.69% +1.06
CVE Cenovus Energy Inc. Add +131.1% 1.61% +0.94
KRSP Rice Acquisition Corp. 3-A New 0.88% +0.88
CNH CNH Industrial NV New 0.84% +0.84
EE Excelerate Energy Inc. Class A Add +41.7% 2.01% +0.80
DAC Danaos Corp. Add +40.0% 2.18% +0.77
KGC Kinross Gold Corp. New 0.57% +0.57
L Loews Corp. Add +14.5% 2.46% +0.51
ECVT Ecovyst Inc. New 0.48% +0.48
SBSW Sibanye-Stillwater Ltd.-ADR Add +7.5% 1.34% +0.41
CHRD Chord Energy Corp. Add +342.1% 0.52% +0.40
BG Bunge Global SA Add +13.3% 1.66% +0.39
CDE Coeur Mining Inc. New 0.37% +0.37
EQX Equinox Gold Corp. Add +47.3% 0.76% +0.37
COP Conocophillips New 0.33% +0.33
GPRK Geopark Ltd. New 0.31% +0.31
TLN Talen Energy Corp. Add +27.3% 1.92% +0.29
CGAU Centerra Gold Inc. Add +50.0% 0.55% +0.29
LNG Cheniere Energy Inc. New 0.28% +0.28
NFGC New Found Gold Corp. New 0.27% +0.27
CORZ Core Scientific Inc. New 0.27% +0.27
ARLP Alliance Resource Partners New 0.25% +0.25
AU Anglogold Ashanti PLC New 0.23% +0.23
DVN Devon Energy Corp. Add +30.0% 0.75% +0.23
SHEL Shell PLC-ADR Add +40.0% 0.56% +0.19
VALE Vale SA-SP ADR New 0.14% +0.14
EOG EOG Resources Inc. New 0.13% +0.13
GGB Gerdau SA -Spon ADR Add +17.3% 0.28% +0.09
MT Arcelormittal-NY Registered New 0.09% +0.09
NAK Northern Dynasty Minerals New 0.01% +0.01

Options Activity Q3 2025 → Q4 2025
CENTURY ALUM CO call Sold out 3,000 $1.3Mbefore exit
MATX Matson Inc. put New 7,230 $1.2M
OUNZ Vaneck Merk Gold ETF put New 2,000 $930K
ALB Albemarle Corp. put New 1,000 $721K
SIBANYE STILLWATER LTD call Sold out 5,000 $491Kbefore exit
SHMDW Schmid Group NV -28 call Sold out 2,269,373 $454Kbefore exit
GDX Vaneck Gold Miners ETF put Sold out 2,500 $226Kbefore exit
BRLSW Oxus Acquisition Corp. -CW23 call Sold out 1,152,000 $115Kbefore exit
GERDAU SA call Sold out 11,000 $104Kbefore exit
SCAGW Scage Future -30 call Sold out 1,067,486 $53Kbefore exit
GCLWW GCL Global Holdings-A -CW26 call Sold out 325,564 $23Kbefore exit
SLXNW Biomotion Sciences-CW29 call Sold out 182,355 $7Kbefore exit
OUSTZ Ouster Inc. -CW25 call Sold out 98,616 $5Kbefore exit
MLECW Moolec Science SA call Sold out 412,400 $4Kbefore exit

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