Luminus Management
HOUSTON, TXfiles as LUMINUS MANAGEMENT LLC
$146m in 30 US stocks at the end of 30 June 2026. The top 10 are 88.7% of the money. It changed about 36.6% of the portfolio this quarter.
Value
$146m
Stocks
30
Top 10 share
88.7%
Turnover
36.6%
What changed this quarter
New
Bought for the first time this quarter.
- Silgan HoldingsSLGN9.9% of the fund
- CelaneseCE2.7% of the fund
- VersigentVGNT2.1% of the fund
- AmcorAMCR1.7% of the fund
- Crown HoldingsCCK0.9% of the fund
- ArcbestARCB0.9% of the fund
- W&T OffshoreWTI0.3% of the fund
- Rare Earths AmericasREA0.3% of the fund
- Comstock ResourcesCRK0.3% of the fund
- SunPowerSPWR0.2% of the fund
- Elmet GroupELMT0.2% of the fund
- Stardust PowerSDST0.1% of the fund
- VolitionrxVNRX0.1% of the fund
- FermiFRMI<0.1% of the fund
Added
Bought more of a stock they already held.
- AvientAVNT16.9% of the fund+59%
- GXO LogisticsGXO9.1% of the fund+305%
- Barclays BankVXX1.2% of the fund+182%
Cut
Sold some of their stake.
- O-I GlassOI11.7% of the fund-35%
- ChemoursCC11.0% of the fund-16%
- Quaker ChemicalKWR8.5% of the fund-43%
- Fuller H BFUL6.3% of the fund-46%
- Kronos WorldwideKRO1.1% of the fund-6%
- Battalion OilBATL1.0% of the fund-47%
- PPG IndustriesPPG0.4% of the fund-87%
- Gemini Space StationGEMI0.2% of the fund-55%
- MaxcyteMXCT<0.1% of the fund-95%
Sold out
Sold their entire stake.
- Sealed Air Corp New-100%
- Axalta Coating SystemsAXTA-100%
- ChevronCVX-100%
- Nextdoor HoldingsNXDR-100%
- Canopy GrowthCGC-100%
- Sangamo TherapeuticsSGMOQ-100%
- PepGenPEPG-100%
- VolitionrxVNRX-100%
Holdings
- MethanexMEOH
- Share
- 6.7%
- Value
- $10m
- Shares
- 213,098
Held
- VersigentVGNT
- Share
- 2.1%
- Value
- $3m
- Shares
- 73,870
New
- Barclays BankVXX
- Share
- 1.2%
- Value
- $2m
- Shares
- 77,500
+182%
- Rare Earths AmericasREA
- Share
- 0.3%
- Value
- $458,400
- Shares
- 30,000
New
- Elmet GroupELMT
- Share
- 0.2%
- Value
- $246,750
- Shares
- 12,500
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| AvientAVNT | 16.9% | $25m | 667,378 | +59% |
| O-I GlassOI | 11.7% | $17m | 1,776,150 | -35% |
| ChemoursCC | 11.0% | $16m | 786,245 | -16% |
| Silgan HoldingsSLGN | 9.9% | $15m | 312,855 | New |
| GXO LogisticsGXO | 9.1% | $13m | 263,217 | +305% |
| Quaker ChemicalKWR | 8.5% | $12m | 78,196 | -43% |
| MethanexMEOH | 6.7% | $10m | 213,098 | Held |
| Fuller H BFUL | 6.3% | $9m | 157,556 | -46% |
| Solstice Advanced MaterialsSOLS | 5.9% | $9m | 97,819 | Held |
| CelaneseCE | 2.7% | $4m | 84,971 | New |
| VersigentVGNT | 2.1% | $3m | 73,870 | New |
| AmcorAMCR | 1.7% | $3m | 57,879 | New |
| Barclays BankVXX | 1.2% | $2m | 77,500 | +182% |
| Kronos WorldwideKRO | 1.1% | $2m | 253,807 | -6% |
| Battalion OilBATL | 1.0% | $1m | 1,069,455 | -47% |
| Crown HoldingsCCK | 0.9% | $1m | 11,600 | New |
| ArcbestARCB | 0.9% | $1m | 8,800 | New |
| PPG IndustriesPPG | 0.4% | $553,325 | 4,562 | -87% |
| W&T OffshoreWTI | 0.3% | $472,500 | 150,000 | New |
| Rare Earths AmericasREA | 0.3% | $458,400 | 30,000 | New |
| Comstock ResourcesCRK | 0.3% | $447,600 | 30,000 | New |
| SunPowerSPWR | 0.2% | $292,102 | 425,000 | New |
| Gemini Space StationGEMI | 0.2% | $287,550 | 67,500 | -55% |
| Elmet GroupELMT | 0.2% | $246,750 | 12,500 | New |
| Stardust PowerSDST | 0.1% | $215,495 | 138,138 | New |
| VolitionrxVNRX | 0.1% | $211,811 | 156,897 | New |
| FermiFRMI | <0.1% | $141,934 | 15,495 | New |
| Algorhythm HoldingsRIME | <0.1% | $117,975 | 206,250 | Held |
| Vistagen TherapeuticsVTGN | <0.1% | $91,104 | 403,115 | Held |
| MaxcyteMXCT | <0.1% | $74,543 | 60,604 | -95% |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is down 61.9% since 30 June 2025.
Where the money is
Materials75.6%
Industrials10.4%
Energy10.1%
Retail & consumer2.1%
Health care0.3%
Financial services0.2%
Real estate0.1%
Technology0.1%
Other1.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.