Keyframe Capital Partners, L.P.

In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Keyframe Capital Partners, L.P. reported 2 stock positions worth $44.9 million. Its top holding was Garrett Motion (GTX) at 73.0% of the portfolio, followed by Forum Energy Technologies (FET, 27.0%). Compared with Q3 2024, it sold out of 3 and added to 1. The biggest buy was Forum Energy Technologies (FET, shares +5%) and the biggest sale an exit from PBF Energy Class A (PBF).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001830175
Portfolio Value
$44.9M (Q4 2024)
SEC Filing
0001172661-25-001201 ↗ filed Feb 14, 2025

Holdings Value

0$20.0M$40.0M$60.0M$80.0M Q1 2024: $73.8M Q1 2024 Q2 2024: $54.2M Q2 2024 Q3 2024: $52.0M Q3 2024 Q4 2024: $44.9M $44.9M Q4 2024 Q1 2025: $42.1M Q1 2025 Q2 2025: $36.0M Q2 2025 Q3 2025: $40.8M Q3 2025 Q4 2025: $21.8M Q4 2025 Q1 2026: $229K Q1 2026 Q2 2026: $202K Q2 2026

Holdings 2 stocks · $44.9M
GTX Garrett Motion Inc. 73.00% 3,627,427 $32.8M No change
FET Forum Energy Technologies Inc. 27.00% 782,197 $12.1M Add +4.8%

Portfolio Sells Q3 2024 → Q4 2024
PBF PBF Energy Inc. Class A Sold out 0.00% −19.16
EVVAQ Enviva LLC Sold out 0.00% −1.42
HE Hawaiian Electric Inds Sold out 0.00% −0.19

Portfolio Buys Q3 2024 → Q4 2024
FET Forum Energy Technologies Inc. Add +4.8% 27.00% +4.82

Notes & Other Activity Q3 2024 → Q4 2024
FORUM ENERGY TECHNOLOGIE (FET 9 08/04/25) NOTE 9.000% 8/0 · principal Sold out 3,475,270 $3.4Mbefore exit

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

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 1$202KSTEM
Q1 2026 1$229KSTEM
Q4 2025 2$21.8MFET, STEM
Q3 2025 3$40.8MFET, GTX, STEM
Q2 2025 2$36.0MGTX, FET
Q1 2025 2$42.1MGTX, FET
Q4 2024 2$44.9MGTX, FET
Q3 2024 5$52.0MGTX, FET, PBF, EVVAQ, HE
Q2 2024 4$54.2MGTX, FET, PBF, EVVAQ
Q1 2024 4$73.8MGTX, FET, PBF, EVVAQ