Lonestar Capital Management LLC In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Lonestar Capital Management LLC reported 19 stock positions worth $119.5 million . Its top holding was Energy Transfer (ET) at 21.3% of the portfolio, followed by Diversified Healthcare Trust (DHC, 9.2% ) and Garrett Motion (GTX, 8.2% ). Compared with Q3 2024, it opened 10 new positions, sold out of 4 and reduced 7. The biggest buy was a new position in Expand Energy (EXE) and the biggest sale an exit from Vaneck Gold Miners ETF (GDX).
Location San Francisco, CA
CIK 0001317410
Portfolio Value $119.5M (Q4 2024) Holdings 19 stocks · $119.5M 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 Q3 2024 ET Energy Transfer LP 1,300,000 $25.5M Reduce -7.1% DHC Diversified Healthcare Trust 4,800,000 $11.0M No change GTX Garrett Motion Inc. 1,090,000 $9.8M Reduce -16.1% EXE Expand Energy Corp. 80,581 $8.0M New PTON Peloton Interactive Inc. Class A 850,000 $7.4M Reduce -43.3% CZR Caesars Entertainment Inc. 200,000 $6.7M Reduce -33.3% DESP Despegar.com Corp. 333,000 $6.4M New HPE Hewlett Packard Enterprise 300,000 $6.4M New TDAY USA Today Co. Inc. filed as GANNETT CO INC 1,200,439 $6.1M Reduce -18.1% EQT Eqt Corp. 105,000 $4.8M New ADT Adt Inc. 667,000 $4.6M Reduce -16.7% CORZ Core Scientific Inc. 325,000 $4.6M Reduce -50.0% DCH Dauch Corporation filed as AMERICAN AXLE & MFG HLDGS IN 667,700 $3.9M New AR Antero Resources Corp. 110,000 $3.9M New NRG NRG Energy Inc. 33,000 $3.0M New B Barrick Gold Corp. 175,000 $2.7M New LUMN Lumen Technologies Inc. 400,000 $2.1M New PUMP Propetro Holding Corp. 150,000 $1.4M New CHRD Chord Energy Corp. 10,000 $1.2M No change
Options reported separately and not counted above: QQQ puts ($76.7M), SPY puts ($58.6M), HYG puts ($19.2M).
Portfolio Sells Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▲ GDX Vaneck Gold Miners ETF Sold out 0.00% −9.25 CZR Caesars Entertainment Inc. Reduce -33.3% 5.59% −5.38 MUR Murphy Oil Corp. Sold out 0.00% −3.25 CORZ Core Scientific Inc. Reduce -50.0% 3.82% −2.93 GLNG Golar LNG Ltd. Sold out 0.00% −2.90 TDAY USA Today Co. Inc. Reduce -18.1% 5.08% −2.13 ADT Adt Inc. Reduce -16.7% 3.86% −1.22 GTX Garrett Motion Inc. Reduce -16.1% 8.24% −1.08 SWN Southwestern Energy Co. Sold out 0.00% −0.65 PTON Peloton Interactive Inc. Class A Reduce -43.3% 6.19% +0.04 ET Energy Transfer LP Reduce -7.1% 21.31% +1.62
Portfolio Buys Q3 2024 → Q4 2024 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 Q3 2024 % Of Portfolio Change To Portfolio ▼ EXE Expand Energy Corp. New 6.71% +6.71 DESP Despegar.com Corp. New 5.36% +5.36 HPE Hewlett Packard Enterprise New 5.36% +5.36 EQT Eqt Corp. New 4.05% +4.05 DCH Dauch Corporation New 3.26% +3.26 AR Antero Resources Corp. New 3.23% +3.23 NRG NRG Energy Inc. New 2.49% +2.49 B Barrick Gold Corp. New 2.27% +2.27 LUMN Lumen Technologies Inc. New 1.78% +1.78 PUMP Propetro Holding Corp. New 1.17% +1.17
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ AAPL Apple Inc. put Sold out 4,000 $93.2Mbefore exit QQQ Invesco QQQ Trust Series 1 put Reduce -50.0% 1,500 $76.7M IWM iShares Russell 2000 ETF put Sold out 3,000 $66.3Mbefore exit TLT iShares 20+ Year Treasury BD put Sold out 6,000 $58.9Mbefore exit SPY SS SPDR S&P 500 ETF Trust-US put New 1,000 $58.6M GDX Vaneck Gold Miners ETF call Sold out 9,000 $35.8Mbefore exit HYG Ishr Ibx Usd Hiyld CB ETF-Ui put Reduce -72.9% 2,436 $19.2M RIG Transocean Ltd. call Sold out 10,000 $4.3Mbefore exit
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