Keyframe Capital Partners, L.P.

In its 13F for Q4 2025 (holdings as of December 31, 2025, filed February 17, 2026), Keyframe Capital Partners, L.P. reported 2 stock positions worth $21.8 million. Its top holding was Forum Energy Technologies (FET) at 98.2% of the portfolio, followed by Stem (STEM, 1.8%). Compared with Q3 2025, it sold out of 1, added to 1 and reduced 1. The biggest buy was Stem (STEM, shares +3%) and the biggest sale an exit from Garrett Motion (GTX).

Most Recent 13F
Q2 2026
Location
New York, NY
CIK
0001830175
Portfolio Value
$21.8M (Q4 2025)
SEC Filing
0001172661-26-001172 ↗ filed Feb 17, 2026

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 Q4 2024 Q1 2025: $42.1M Q1 2025 Q2 2025: $36.0M Q2 2025 Q3 2025: $40.8M Q3 2025 Q4 2025: $21.8M $21.8M Q4 2025 Q1 2026: $229K Q1 2026 Q2 2026: $202K Q2 2026

Holdings 2 stocks · $21.8M
FET Forum Energy Technologies Inc. 98.21% 578,449 $21.4M Reduce -31.8%
STEM Stem Inc. 1.79% 25,924 $390K Add +2.9%

Portfolio Sells Q3 2025 → Q4 2025
GTX Garrett Motion Inc. Sold out 0.00% −43.37
FET Forum Energy Technologies Inc. Reduce -31.8% 98.21% +42.66

Portfolio Buys Q3 2025 → Q4 2025
STEM Stem Inc. Add +2.9% 1.79% +0.71

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