Lonestar Capital Management LLC In its 13F for Q2 2026 (holdings as of June 30, 2026, filed August 14, 2026), Lonestar Capital Management LLC reported 26 stock positions worth $155.3 million . Its top holding was Garrett Motion (GTX) at 12.8% of the portfolio, followed by Energy Transfer (ET, 11.1% ) and Global Ship Lease Class A (GSL, 7.0% ). Compared with Q1 2026, it opened 5 new positions, sold out of 5, added to 3 and reduced 14. The biggest buy was a new position in Covista (CVSA) and the biggest sale an exit from Vaneck Junior Gold Miners (GDXJ).
Location San Francisco, CA
CIK 0001317410
Portfolio Value $155.3M (Q2 2026) Holdings 26 stocks · $155.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2026 GTX Garrett Motion Inc. 550,000 $19.9M Reduce -31.3% ET Energy Transfer LP 900,000 $17.2M No change GSL Global Ship Lease Inc. Class A 290,000 $10.9M Add +81.3% DHC Diversified Healthcare Trust 1,050,000 $9.8M Reduce -34.4% TH Target Hospitality Corp. 433,100 $8.8M Add +15.5% BKD Brookdale Senior Living Inc. 540,000 $8.7M Reduce -18.2% CVSA Covista Inc. 55,000 $6.9M New VST Vistra Corp. 40,000 $6.3M Reduce -20.0% TLN Talen Energy Corp. 16,000 $6.1M Reduce -46.7% GDX Vaneck Gold Miners ETF 80,000 $6.0M No change DCH Dauch Corporation 950,000 $5.1M Reduce -36.7% CE Celanese Corp. 110,000 $5.1M Reduce -45.0% EXE Expand Energy Corp. 55,000 $5.0M Reduce -35.3% LINC Lincoln Educational Services 83,911 $4.2M Reduce -44.1% DOW Dow Inc. filed as DOW HLDGS INC 150,000 $4.1M Reduce -16.7% NRG NRG Energy Inc. 27,000 $3.9M Reduce -55.0% KYIV Kyivstar Group Ltd. 240,000 $3.9M New LUMN Lumen Technologies Inc. 500,000 $3.8M Add +17.6% UTI Universal Technical Institut 85,000 $3.6M No change EQT Eqt Corp. 60,000 $3.2M Reduce -33.3% LYB Lyondellbasell Indu Class A 60,000 $3.2M No change RIG Transocean Ltd. 475,000 $2.3M Reduce -47.2% SDRL Seadrill Limited 55,000 $2.1M Reduce -45.0% GLXY Galaxy Digital Inc. Class A 70,000 $1.9M New ADT Adt Inc. 250,000 $1.6M New SVC Service Pptys TR 900,000 $1.5M New
Options reported separately and not counted above: SPY puts ($112.0M), QQQ puts ($73.6M), RIG calls ($4.4M).
Portfolio Sells Q1 2026 → Q2 2026 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▲ GDXJ Vaneck Junior Gold Miners Sold out 0.00% −3.87 CE Celanese Corp. Reduce -45.0% 3.26% −3.81 PCG P G & E Corp. Sold out 0.00% −3.59 NRG NRG Energy Inc. Reduce -55.0% 2.54% −2.17 EXE Expand Energy Corp. Reduce -35.3% 3.23% −1.79 RIG Transocean Ltd. Reduce -47.2% 1.50% −1.71 POOL Pool Corp. Sold out 0.00% −1.63 DCH Dauch Corporation Reduce -36.7% 3.31% −1.47 DOW Dow Inc. Reduce -16.7% 2.64% −1.39 TLN Talen Energy Corp. Reduce -46.7% 3.96% −1.19 SDRL Seadrill Limited Reduce -45.0% 1.34% −1.11 EQT Eqt Corp. Reduce -33.3% 2.05% −1.02 BAK Braskem SA Class A- ADR Sold out 0.00% −0.98 LINC Lincoln Educational Services Reduce -44.1% 2.70% −0.58 SMCI Super Micro Computer Inc. Sold out 0.00% −0.55 VST Vistra Corp. Reduce -20.0% 4.09% +0.05 DHC Diversified Healthcare Trust Reduce -34.4% 6.29% +0.58 BKD Brookdale Senior Living Inc. Reduce -18.2% 5.59% +0.74 GTX Garrett Motion Inc. Reduce -31.3% 12.83% +5.02
Portfolio Buys Q1 2026 → Q2 2026 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2026 % Of Portfolio Change To Portfolio ▼ CVSA Covista Inc. New 4.41% +4.41 GSL Global Ship Lease Inc. Class A Add +81.3% 7.02% +3.82 TH Target Hospitality Corp. Add +15.5% 5.68% +3.81 KYIV Kyivstar Group Ltd. New 2.50% +2.50 GLXY Galaxy Digital Inc. Class A New 1.23% +1.23 ADT Adt Inc. New 1.05% +1.05 SVC Service Pptys TR New 0.98% +0.98 LUMN Lumen Technologies Inc. Add +17.6% 2.47% +0.88
Options Activity Q1 2026 → Q2 2026 Security Type Change vs Q1 2026 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -6.3% 1,500 $112.0M HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Sold out 14,000 $111.4Mbefore exit TLT iShares 20+ Year Treasury BD put Sold out 10,000 $86.7Mbefore exit QQQ Invesco QQQ Trust Series 1 put Reduce -50.0% 1,000 $73.6M IWM iShares Russell 2000 ETF put Sold out 2,000 $49.6Mbefore exit PCG P G & E Corp. call Sold out 10,000 $17.6Mbefore exit RIG Transocean Ltd. call New 9,000 $4.4M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 26 $155.3M GTX, ET, GSL, DHC, TH Q1 2026 26 $186.0M ET, GTX, CE, DHC, TLN Q4 2025 28 $186.9M GTX, ET, DHC, DCH, CE Q3 2025 23 $143.9M ET, DHC, GTX, NRG, GSL Q2 2025 17 $115.1M ET, DHC, NRG, GTX, GLNG Q1 2025 15 $80.5M ET, DHC, GTX, EXE, NRG Q4 2024 19 $119.5M ET, DHC, GTX, EXE, PTON Q3 2024 13 $114.1M ET, DHC, CZR, GTX, GDX Q2 2024 13 $89.8M ET, DHC, GTX, UNG, UBER Q1 2024 13 $96.6M ET, DHC, CZR, GTX, UBER