In its 13F for Q4 2024 (holdings as of December 31, 2024, filed February 14, 2025), Luminus Management LLC reported 12 stock positions worth $52.5 million . Its top holding was O-I Glass (OI) at 34.5% of the portfolio, followed by Battalion Oil (BATL, 20.2% ) and Chemours (CC, 19.4% ). Compared with Q3 2024, it opened 3 new positions, sold out of 9, added to 1 and reduced 7. The biggest buy was a new position in Kronos Worldwide (KRO) and the biggest sale Tronox (TROX, shares −96% ).
Location HOUSTON, TX
CIK 0001279151
Portfolio Value $52.5M (Q4 2024) Holdings 12 stocks · $52.5M 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 OI O-I Glass Inc. 1,670,634 $18.1M Reduce -46.4% BATL Battalion Oil Corp. 6,151,448 $10.6M No change CC The Chemours Co. 601,541 $10.2M Reduce -62.8% BERY Berry Global Group Inc. 58,627 $3.8M Reduce -69.0% KRO Kronos Worldwide Inc. 260,300 $2.5M New AVNT Avient Corp. 46,300 $1.9M New APD Air Products & Chemicals Inc. 5,000 $1.5M Reduce -77.3% ESI Element Solutions Inc. 46,500 $1.2M New FMC FMC Corp. 20,400 $992K Add +37.1% LUCD Lucid Diagnostics Inc. 1,016,720 $832K Reduce -11.8% TROX Tronox Holdings PLC 50,993 $514K Reduce -95.6% SEE Sealed Air Corp. 12,000 $406K Reduce -94.8%
Options reported separately and not counted above: CHEMOURS CO calls ($31.4M), O-I GLASS INC calls ($2.7M), ELEMENT SOLUTIONS INC calls ($56K).
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 ▲ TROX Tronox Holdings PLC Reduce -95.6% 0.98% −8.63 SEE Sealed Air Corp. Reduce -94.8% 0.77% −3.99 VXX Ipath Series B S&P 500 Vix Sold out 0.00% −1.55 SVCO Silvaco Group Inc. Sold out 0.00% −1.52 ATEX Anterix Inc. Sold out 0.00% −1.24 OLN Olin Corp. Sold out 0.00% −1.03 REKR Rekor Systems Inc. Sold out 0.00% −1.01 APD Air Products & Chemicals Inc. Reduce -77.3% 2.76% −0.95 PPG PPG Industries Inc. Sold out 0.00% −0.92 FRSH Freshworks Inc. Class A Sold out 0.00% −0.65 QXO Qxo Inc. Sold out 0.00% −0.38 BKKT Bakkt Inc. Sold out 0.00% −0.19 BERY Berry Global Group Inc. Reduce -69.0% 7.23% −0.06 CC The Chemours Co. Reduce -62.8% 19.38% +0.77 LUCD Lucid Diagnostics Inc. Reduce -11.8% 1.59% +1.05 OI O-I Glass Inc. Reduce -46.4% 34.53% +11.34
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 ▼ KRO Kronos Worldwide Inc. New 4.84% +4.84 AVNT Avient Corp. New 3.61% +3.61 ESI Element Solutions Inc. New 2.25% +2.25 FMC FMC Corp. Add +37.1% 1.89% +1.33
Options Activity Q3 2024 → Q4 2024 Security Type Change vs Q3 2024 Underlying Shares Value ▼ CHEMOURS CO call Add +145.1% 1,857,700 $31.4M O-I GLASS INC call Reduce -38.7% 246,000 $2.7M ELEMENT SOLUTIONS INC call New 2,200 $56K
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 30 $146.3M AVNT, OI, CC, SLGN, GXO Q1 2026 24 $165.5M OI, CC, FUL, KWR, AVNT Q4 2025 21 $108.4M OI, VG, SEE, KWR, BATL Q3 2025 19 $111.3M CC, OI, SEE, KEX, KWR Q2 2025 19 $384.2M VG, OI, CC, SEE, KWR Q1 2025 17 $299.2M VG, OI, CC, SEE, BATL Q4 2024 12 $52.5M OI, BATL, CC, BERY, KRO Q3 2024 18 $176.5M BATL, OI, CC, TROX, BERY Q2 2024 23 $153.6M OI, CC, BATL, TROX, BERY Q1 2024 25 $219.8M CHEMOURS CO, TROX, BATL, OI, OLN