Condire Management, LP

Hedge Fund • Long/Short

Condire Management, LP is a Long/Short Hedge Fund based in Dallas, TX led by Bradley Jay Shisler, reporting $1.2B in AUM as of Q3 2025 with 66% Basic Materials concentration, 88% concentrated in top 10 holdings, and 26% allocation to NGD.

Managing PartnerBradley Jay Shisler

Portfolio Value: $817.0M
Positions: 19
Top Holding: NGD at 26.4%
Last Reported: Q3 2025

Address1717 Mckinney Ave., Suite 850, Dallas, TX, 75202, United States

Top Holdings

Largest long holdings in Condire Management, LP's portfolio (88.3% of total portfolio)

See all holdings

GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 New Gold NGD	Gold Basic Materials	$215.7M	26.40%	-$19.4M Sold	3.79% 30.0M shares	Q2 2024 Held for 1y 5m
2 SSR Mining SSRM	Gold Basic Materials	$81.9M	10.02%	+$31.7M Bought	1.65% 3.4M shares	Q2 2025 Held for 5 months
3 i-80 Gold IAUX	Gold Basic Materials	$76.5M	9.37%	+$95.5K Bought	9.82% 80.1M shares	Q2 2025 Held for 5 months
4 Osisko Development ODV	Gold Basic Materials	$74.5M	9.11%	+$31.9M Bought	9.21% 22.0M shares	Q4 2024 Held for 11 months
5 Valaris VAL	Oil & Gas Equipment & Services Energy	$56.5M	6.92%	—	1.63% 1.2M shares	Q3 2021 Held for 4y 2m
6 SBSW Sibanye Stillwater SBSW	Unknown Unknown	$55.8M	6.83%	-$16.0M Sold	— 5.0M shares	Q4 2022 Held for 2y 11m
7 Chord Energy CHRD	Oil & Gas Exploration & Production Energy	$52.8M	6.46%	—	0.93% 531.3K shares	Q2 2021 Held for 4y 5m
8 Rayonier Advanced Materials RYAM	Chemicals Basic Materials	$45.9M	5.62%	—	9.49% 6.4M shares	Q2 2021 Held for 4y 5m
9 Seadrill SDRL	Oil & Gas Drilling Energy	$38.7M	4.73%	—	2.06% 1.3M shares	Q4 2022 Held for 2y 11m
10 Endeavour Silver EXK	Other Precious Metals Basic Materials	$23.5M	2.88%	+$15.7M Bought	1.03% 3.0M shares	Q2 2025 Held for 5 months

See all holdings

GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in Condire Management, LP's latest filing

See all changes

GthenC

Market Value

$817.0M

Prior: $694.3M

Q/Q Change

+17.67%

+$122.7M

Net Flows % of MV

-12.69%

Turnover Ratio

15.25%

New Purchases

0 stocks

Added To

4 stocks

+$79.4M

Sold Out Of

8 stocks

$134.0M

Reduced Holdings

3 stocks

-$49.2M

Increased Positions

Position	Shares Δ	Change
1 Endeavour Silver EXK	+200.0%	1.0M → 3.0M +$15.7M
2 Osisko Development ODV	+74.99%	12.6M → 22.0M +$31.9M
3 SSR Mining SSRM	+63.29%	2.1M → 3.4M +$31.7M
4 i-80 Gold IAUX	+0.13%	80.0M → 80.1M +$95.5K

Decreased Positions

Position	Shares Δ	Change
1 Hudbay Minerals HBM	Sold	7.3M → 0 −$77.2M
2 Materials Select Sector Fund XLB	Sold	227.5K → 0 −$20.0M
3 Perpetua Resources Corp. PPTA	Sold	890.5K → 0 −$10.8M
4 Vital Energy VTLE	Sold	531.0K → 0 −$8.5M
5 Hecla Mining HL	Sold	1.0M → 0 −$6.0M