CALUMET INC CLMT
COM · Common Stock · CUSIP 131428104
- SectorEnergy
- IndustryPetroleum Refining
- HeadquartersIndianapolis, IN
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($244.6k this quarter). Holder counts are more reliable. Shares outstanding: 86.8m as of 2025-08-08, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $15.76. Options: 18 managers hold calls ($58.3m notional), 13 hold puts ($65.2m).
Trends to Q2 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q2 2024 | 3 |
| Q3 2024 | 92 |
| Q4 2024 | 124 |
| Q1 2025 | 130 |
| Q2 2025 | 135 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q3 2024 | 90 | 3 |
| Q4 2024 | 65 | 44 |
| Q1 2025 | 70 | 56 |
| Q2 2025 | 78 | 58 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q3 2024 | $80.3m | $33.8m | 0.42 |
| Q4 2024 | $173.3m | $48.6m | 0.28 |
| Q1 2025 | $72.0m | $46.3m | 0.64 |
| Q2 2025 | $58.3m | $65.2m | 1.12 |
Biggest buyers
| BlackRock, Inc. | Added | +3.3m |
| Two Seas Capital LP | Added | +1.6m |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +901.9k |
| VANGUARD GROUP INC | Added | +824.9k |
| NORTHERN TRUST CORP | Added | +413.9k |
| AYAL Capital Advisors Ltd | New | +335.0k |
| ROYAL BANK OF CANADA | Added | +321.2k |
| STATE STREET CORP | Added | +292.9k |
| UBS Group AG | Added | +222.7k |
| Bank of New York Mellon Corp | Added | +196.2k |
Biggest sellers
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | -1.7m |
| MILLENNIUM MANAGEMENT LLC | Reduced | -1.5m |
| GOLDMAN SACHS GROUP INC | Reduced | -331.6k |
| MARSHALL WACE, LLP | Reduced | -297.9k |
| MORGAN STANLEY | Reduced | -291.2k |
| FIRST TRUST ADVISORS LP | Sold out | -222.7k |
| Rangeley Capital, LLC | Reduced | -200.8k |
| Schonfeld Strategic Advisors LLC | Sold out | -174.5k |
| GARNET EQUITY CAPITAL HOLDINGS, INC. | Reduced | -100.0k |
| Caption Management, LLC | Sold out | -98.1k |
Biggest calls
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $13.3m847.0k shares |
| CITADEL ADVISORS LLC | Added | $11.2m707.9k shares |
| JANE STREET GROUP, LLC | Added | $6.5m411.9k shares |
| SCOPUS ASSET MANAGEMENT, L.P. | New | $4.7m295.4k shares |
| GROUP ONE TRADING LLC | Reduced | $4.1m260.3k shares |
| SIMPLEX TRADING, LLC | Reduced | $3.4m212.9k shares |
| Thomist Capital Management, LP | New | $3.2m200.0k shares |
| WOLVERINE TRADING, LLC | Added | $2.7m172.5k shares |
| IMC-Chicago, LLC | Added | $2.1m135.6k shares |
| DLD Asset Management, LP | Added | $2.1m130.2k shares |
Biggest puts
| Graham Capital Management, L.P. | Added | $41.1m2.6m shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $9.0m568.2k shares |
| CITADEL ADVISORS LLC | Added | $5.5m351.2k shares |
| IMC-Chicago, LLC | Added | $2.0m125.7k shares |
| SIMPLEX TRADING, LLC | Added | $1.6m103.5k shares |
| JANE STREET GROUP, LLC | Added | $1.4m88.4k shares |
| WOLVERINE TRADING, LLC | Reduced | $1.3m86.9k shares |
| Walleye Capital LLC | Added | $1.2m78.7k shares |
| Walleye Trading LLC | Added | $998.9k63.4k shares |
| GROUP ONE TRADING LLC | Reduced | $737.3k46.8k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
Heritage Group
13D · may seek influence
filed 2026-06-05
Stated purposeItem 4 of the 2024 Schedule 13D is hereby amended to incorporate the following at the end thereof: As previously reported and in connection with the July 2024 restructuring, the Reporting Person received warrants to acquire 1,020,000 shares of Common Stock at an exercise price of $20.00 per share (the "Heritage Warrants"). On May 15, 2026, the Reporting Person exercised the Heritage Warrants in full, receiving 393,002 shares of Common Stock in net settlement thereof resulting in a decrease in beneficial ownership of 626,998 shares of Common Stock. On June 5, 2026, the General Partner Trustees approved a gift of 540,000 shares of Common Stock (the "Gift") directly held by the Reporting Person. Full filing |
16.6% |
| Two Seas Capital LP 13G · institution -1.8 pts · filed 2026-08-14 | 7.5% |
| Wasserstein Debt Opportunities Fund, LP 13G · passive investor filed 2025-02-14 | 7.1% |
| BlackRock, Inc. 13G · institution new · filed 2025-07-17 | 5.4% |
Fell to 5% or below in the last year: Wasserstein Management, L.P. (4.6%, 2026-08-14; now reported by Wasserstein Debt Opportunities Fund, LP), Adams Asset Advisors, LLC (4.7%, 2026-04-02), VANGUARD GROUP INC (0.0%, 2026-03-26)
Insider purchases and sales in Q2 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q3 2023 | 0 | — | 0 | — | — |
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 0 | — | — |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 3 | $6.6m | — |
| Q1 2025 | 1 | $32.6k | 2 | $367.9k | $274.6k |
| Q2 2025 | 0 | — | 6 | $5.4m | $732.2k |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-06-24 | Sajkowski Daniel J Director | Sold | —1.5k shares |
| 2025-06-24 | Mawer Stephen P Director | Sold | —3.0k shares |
| 2025-06-24 | Boss John G. Director | Sold | —1.5k shares |
| 2025-06-16 | Straumins Jennifer Director | Sold | $1.6m100.0k shares |
| 2025-06-16 | Morical Gregory J SVP, GENERAL COUNSEL | Sold | $419.3k25.1k shares |
| 2025-06-13 | Straumins Jennifer Director | Sold | $754.0k50.0k shares |
| 2025-06-05 | Straumins Jennifer Director | Sold | $1.3m100.0k shares |
| 2025-06-02 | Sajkowski Daniel J Director | Sold plan | $268.0k20.0k shares |
| 2025-05-14 | Sheets Daniel L Director | Sold | $137.9k10.0k shares |
| 2025-05-13 | Sheets Daniel L Director | Sold | $416.3k30.0k shares |
| 2025-05-01 | Sajkowski Daniel J Director | Sold plan | $213.2k20.0k shares |
| 2025-04-22 | Mawer Stephen P Director | Sold | $34.0k3.7k shares |
| 2025-04-01 | Sajkowski Daniel J Director | Sold plan | $251.0k20.0k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q2 2025
| Manager | Shares | Change |
|---|---|---|
| Wasserstein Management, L.P. 100.00% of their portfolio | 5.8m $91.6m | Added +180.2k |
| Adams Asset Advisors, LLC 11.98% of their portfolio | 5.4m $85.2m | Added +49.9k |
| BlackRock, Inc. 0.00% of their portfolio | 4.7m $74.2m | Added +3.3m |
| VANGUARD GROUP INC 0.00% of their portfolio | 4.7m $73.5m | Added +824.9k |
| Two Seas Capital LP 6.95% of their portfolio | 4.5m $70.9m | Added +1.6m |
| Knott David M Jr 23.39% of their portfolio | 3.3m $51.6m | Reduced -22.0k |
| STATE STREET CORP 0.00% of their portfolio | 2.2m $34.2m | Added +292.9k |
| GEODE CAPITAL MANAGEMENT, LLC 0.00% of their portfolio | 1.7m $26.9m | Added +901.9k |
| MARSHALL WACE, LLP 0.01% of their portfolio | 656.6k $10.3m | Reduced -297.9k |
| ROYAL BANK OF CANADA 0.00% of their portfolio | 638.1k $10.1m | Added +321.2k |
| GARNET EQUITY CAPITAL HOLDINGS, INC. 4.45% of their portfolio | 610.5k $9.6m | Reduced -100.0k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 609.3k $9.6m | Added +20.1k |
| NORTHERN TRUST CORP 0.00% of their portfolio | 600.5k $9.5m | Added +413.9k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.00% of their portfolio | 571.0k $9.0m | Added +175.1k |
| RAYMOND JAMES FINANCIAL INC 0.00% of their portfolio | 534.0k $8.4m | Reduced -8.3k |
| MORGAN STANLEY 0.00% of their portfolio | 511.6k $8.1m | Reduced -291.2k |
| Alta Fundamental Advisers LLC 3.96% of their portfolio | 459.9k $7.2m | Unchanged |
| UBS Group AG 0.00% of their portfolio | 452.4k $7.1m | Added +222.7k |
| Verition Fund Management LLC 0.03% of their portfolio | 336.4k $5.3m | Reduced -72.5k |
| AYAL Capital Advisors Ltd 2.88% of their portfolio | 335.0k $5.3m | New |
| Rangeley Capital, LLC 6.31% of their portfolio | 319.0k $5.0m | Reduced -200.8k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 282.4k $4.4m | Added +70.1k |
| Hudson Bay Capital Management LP 0.03% of their portfolio | 264.1k $4.2m | Added +13 |
| Barnett & Company, Inc. 2.88% of their portfolio | 232.0k $3.7m | Unchanged |
| Trexquant Investment LP 0.04% of their portfolio | 226.1k $3.6m | Added +165.4k |
| Bank of New York Mellon Corp 0.00% of their portfolio | 213.3k $3.4m | Added +196.2k |
| MILLENNIUM MANAGEMENT LLC 0.00% of their portfolio | 208.0k $3.3m | Reduced -1.5m |
| one8zero8, LLC 0.70% of their portfolio | 187.5k $3.0m | Added +9.1k |
| BNP PARIBAS FINANCIAL MARKETS 0.00% of their portfolio | 183.9k $2.9m | Added +182.9k |
| Walleye Capital LLC 0.02% of their portfolio | 165.0k $2.6m | Added +130.1k |
| Nuveen, LLC 0.00% of their portfolio | 157.1k $2.5m | New |
| BROWN ADVISORY INC 0.00% of their portfolio | 150.0k $2.4m | Unchanged |
| BARCLAYS PLC 0.00% of their portfolio | 149.0k $2.3m | Added +59.6k |
| Diametric Capital, LP 1.23% of their portfolio | 146.8k $2.3m | New |
| LPL Financial LLC 0.00% of their portfolio | 141.3k $2.2m | Reduced -14.9k |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 133.7k $2.1m | Reduced -331.6k |
| Swiss National Bank 0.00% of their portfolio | 131.7k $2.1m | Reduced -9.9k |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP 0.00% of their portfolio | 124.2k $2.0m | Reduced -1.7m |
| NorthCoast Asset Management LLC 0.01% of their portfolio | 110.6k $1.7m | Added +7.5k |
| RHUMBLINE ADVISERS 0.00% of their portfolio | 102.2k $1.6m | New |
| Invesco Ltd. 0.00% of their portfolio | 94.6k $1.5m | Added +79.2k |
| FAS Wealth Partners, Inc. 0.10% of their portfolio | 89.4k $1.4m | Added +400 |
| WELLS FARGO & COMPANY/MN 0.00% of their portfolio | 89.4k $1.4m | Added +44.5k |
| CITIGROUP INC 0.00% of their portfolio | 85.4k $1.3m | Added +45.5k |
| Rafferty Asset Management, LLC 0.00% of their portfolio | 84.0k $1.3m | Reduced -39.4k |
| GROUP ONE TRADING LLC 0.04% of their portfolio | 77.7k $1.2m | Reduced -20.4k |
| Legal & General Group Plc 0.00% of their portfolio | 72.1k $1.1m | Added +19.3k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 70.1k $1.1m | New |
| Founders Financial Alliance, LLC 0.24% of their portfolio | 66.3k $1.0m | Added +10.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 63.5k $1.0m | Added +4.3k |
| JPMORGAN CHASE & CO 0.00% of their portfolio | 59.6k $939.4k | Added +31.1k |
| PRELUDE CAPITAL MANAGEMENT, LLC 0.09% of their portfolio | 57.4k $904.7k | Reduced -2.0k |
| ARISTEIA CAPITAL, L.L.C. 0.03% of their portfolio | 56.9k $896.6k | New |
| COMMONWEALTH EQUITY SERVICES, LLC 0.00% of their portfolio | 56.4k $889.0k | Reduced -1.8k |
| Linscomb Wealth, Inc. 0.04% of their portfolio | 55.9k $880.5k | Unchanged |
| TORONTO DOMINION BANK 0.00% of their portfolio | 50.0k $787.8k | New |
| Freestone Grove Partners LP 0.01% of their portfolio | 48.1k $758.1k | Added +28.6k |
| BlueCrest Capital Management Ltd 0.08% of their portfolio | 48.0k $756.2k | Reduced -22.0k |
| DEUTSCHE BANK AG\ 0.00% of their portfolio | 46.9k $738.6k | Added +44.0k |
| Aventail Capital Group, LP 0.03% of their portfolio | 45.9k $722.6k | Unchanged |
| Plancorp, LLC 0.02% of their portfolio | 45.0k $709.0k | Unchanged |
| ELCO Management Co., LLC 0.36% of their portfolio | 43.1k $678.4k | Added +10.4k |
| Creative Planning 0.00% of their portfolio | 43.0k $677.0k | Unchanged |
| WINTON GROUP Ltd 0.03% of their portfolio | 42.3k $665.9k | Added +25.4k |
| MetLife Investment Management, LLC 0.00% of their portfolio | 41.7k $657.2k | New |
| Valeo Financial Advisors, LLC 0.01% of their portfolio | 38.6k $607.6k | Reduced -1.1k |
| MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. 0.00% of their portfolio | 37.8k $595.5k | New |
| Corient Private Wealth LP 0.00% of their portfolio | 36.6k $577.0k | New |
| Mariner, LLC 0.00% of their portfolio | 34.9k $549.3k | Added +4.0k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 34.6k $544.4k | Added +23.0k |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 34.5k $543.0k | New |
| INTECH INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 32.9k $518.1k | New |
| Squarepoint Ops LLC 0.00% of their portfolio | 31.7k $500.0k | New |
| JANUS HENDERSON GROUP PLC 0.00% of their portfolio | 31.3k $493.1k | Unchanged |
| XTX Topco Ltd 0.02% of their portfolio | 29.7k $467.9k | New |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 29.6k $466.3k | New |
| CITADEL ADVISORS LLC 0.00% of their portfolio | 28.9k $454.6k | New |
| Shay Capital LLC 0.10% of their portfolio | 26.9k $423.7k | Reduced -2.2k |
| O'Keefe Stevens Advisory, Inc. 0.12% of their portfolio | 26.8k $422.5k | Added +2.9k |
| Dynamic Technology Lab Private Ltd 0.06% of their portfolio | 25.9k $408.0k | New |
| Inspire Investing, LLC 0.04% of their portfolio | 24.9k $391.5k | Reduced -1.5k |
| Zurcher Kantonalbank (Zurich Cantonalbank) 0.00% of their portfolio | 24.8k $390.2k | Unchanged |
| Gimbal Financial 0.24% of their portfolio | 24.5k $386.7k | Unchanged |
| J.W. COLE ADVISORS, INC. 0.01% of their portfolio | 23.3k $366.9k | Added +5.7k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.00% of their portfolio | 21.8k $343.5k | New |
| WOLVERINE TRADING, LLC 0.01% of their portfolio | 21.1k $328.2k | Reduced -32.2k |
| GF FUND MANAGEMENT CO. LTD. 0.01% of their portfolio | 20.3k $319.7k | Added +305 |
| ARIZONA STATE RETIREMENT SYSTEM 0.00% of their portfolio | 20.0k $315.4k | Reduced -901 |
| CALDWELL SUTTER CAPITAL, INC. 0.14% of their portfolio | 19.5k $307.0k | Added +4.5k |
| VOYA INVESTMENT MANAGEMENT LLC 0.00% of their portfolio | 19.0k $299.6k | New |
| VAN ECK ASSOCIATES CORP 0.00% of their portfolio | 18.5k $292.0k | New |
| SIMON QUICK ADVISORS, LLC 0.01% of their portfolio | 18.0k $284.2k | Unchanged |
| Police & Firemen's Retirement System of New Jersey 0.00% of their portfolio | 15.5k $244.6k | New |
| Quantbot Technologies LP 0.01% of their portfolio | 15.3k $240.5k | New |
| Engineers Gate Manager LP 0.00% of their portfolio | 14.6k $230.0k | New |
| ProShare Advisors LLC 0.00% of their portfolio | 14.1k $222.9k | New |
| KLP KAPITALFORVALTNING AS 0.00% of their portfolio | 13.4k $211.1k | Unchanged |
| IMC-Chicago, LLC 0.01% of their portfolio | 13.1k $207.1k | Reduced -30.0k |
| SP Asset Management LLC 0.02% of their portfolio | 13.0k $204.8k | New |
| Premier Path Wealth Partners, LLC 0.03% of their portfolio | 12.9k $202.5k | Added +1.3k |