Calumet, Inc. (CLMT) shareholders
CLMTNasdaqPetroleum RefiningFiscal year ends December 31
$34.30−2.15 (-5.90%)
Close on Nov 13, 2026Market cap $3.01BP/E –Yield –
Ownership
Institutional holdings as of Jun 30, 2026, from 13F filings
Held by institutions
52.4%
46M of 88M shares
Institutional holders
188
40 new, 29 sold out
Net institutional buying
1M
In Q2 2026
Insider trades, 12 months
0 buys · 7 sales
Net sold $20.67M
Shares held by institutions
Holders of more than 5%
Latest Schedule 13D (active) or 13G (passive) filed by each holder
| Holder | Shares | % of class | Filing | As of |
|---|---|---|---|---|
| The Heritage Group | 14,523,185 | 16.56% | 13D (active) amendment | Jun 5, 2026 |
| Two Seas Capital LP Joint filing with Two Seas Capital GP LLC (9.30%), Sina Toussi (9.30%) | 8,098,229 | 9.30% | 13G (passive) amendment | Dec 31, 2025 |
| Sina Toussi Joint filing with Two Seas Capital LP (7.50%), Two Seas Capital GP LLC (7.50%) | 6,619,708 | 7.50% | 13G (passive) amendment | Jun 30, 2026 |
| Bagaria Rajay Joint filing with Joseph Dutton (6.60%), Wasserstein Debt Opportunities Management, L.P. (6.60%) and 1 more | 6,033,379 | 7.00% | 13G (passive) | Mar 18, 2025 |
| BlackRock, Inc. | 4,708,310 | 5.40% | 13G (passive) | Jun 30, 2025 |
| Two Seas Capital GP LLC Joint filing with Two Seas Capital LP (5.20%), Sina Toussi (5.20%) | 4,497,609 | 5.20% | 13G (passive) | Jun 30, 2025 |
Top institutional holders
13F holdings as of Jun 30, 2026
| Holder | Shares | % of CLMT | Value | Change | % of portfolio |
|---|---|---|---|---|---|
| Two Seas Capital LP | 6,619,708 | 7.53% | $238.44M | +659,416 | 4.72% |
| BlackRock, Inc. | 5,234,106 | 5.95% | $188.53M | +253,578 | 0.00% |
| Wasserstein Debt Opportunities Management, L.P. | 3,964,893 | 4.51% | $142.82M | −608,470 | 54.09% |
| State Street Corp | 3,471,065 | 3.95% | $125.03M | +390,906 | 0.00% |
| Vanguard Capital Management LLC | 3,453,911 | 3.93% | $124.41M | +18,517 | 0.00% |
| Adams Asset Advisors, LLC | 2,006,206 | 2.28% | $72.26M | −1,196,026 | 8.20% |
| Geode Capital Management, LLC | 1,962,286 | 2.23% | $70.69M | +89,427 | 0.00% |
| Barclays PLC | 1,409,773 | 1.60% | $50.78M | +731,860 | 0.01% |
| Vanguard Portfolio Management LLC | 1,025,321 | 1.17% | $36.93M | +95,069 | 0.00% |
| Bank Of America Corp /De/ | 981,353 | 1.12% | $35.35M | −172,391 | 0.00% |
| Wellington Management Group Llp | 811,482 | 0.92% | $29.23M | −19,076 | 0.01% |
| Citadel Advisors LLC | 762,084 | 0.87% | $27.45M | +226,051 | 0.00% |
| Morgan Stanley | 708,206 | 0.81% | $25.51M | −343,791 | 0.00% |
| Marshall Wace, Llp | 617,138 | 0.70% | $22.23M | −206,890 | 0.02% |
| Northern Trust Corp | 615,263 | 0.70% | $22.16M | +34,173 | 0.00% |
| Voleon Capital Management LP | 612,506 | 0.70% | $22.06M | −69,426 | 0.40% |
| Charles Schwab Investment Management Inc | 552,791 | 0.63% | $19.91M | +12,124 | 0.00% |
| Brown Advisory Inc | 535,044 | 0.61% | $19.27M | −30,680 | 0.03% |
| Citigroup Inc | 480,623 | 0.55% | $17.31M | −6,356 | 0.01% |
| Bnp Paribas Arbitrage, Snc | 479,261 | 0.55% | $17.26M | +172,374 | 0.01% |
Institutional buying and selling by quarter
Positions opened, added to, reduced and closed by 13F filers
| Quarter | Holders | Shares held | % of shares | New / added | Reduced / closed | Shares bought | Shares sold |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 188 | 46M | 52.4% | 40 / 70 | 54 / 29 | 6M | 5M |
| Q1 2026 | 181 | 45M | 51.7% | 65 / 52 | 41 / 19 | 13M | 8M |
| Q4 2025 | 140 | 45M | 51.3% | 15 / 39 | 56 / 20 | 3M | 3M |
| Q3 2025 | 149 | 46M | 51.8% | 30 / 44 | 41 / 15 | 5M | 4M |
| Q2 2025 | 134 | 45M | 50.8% | 35 / 43 | 29 / 29 | 11M | 6M |
| Q1 2025 | 129 | 40M | 45.2% | 28 / 42 | 36 / 21 | 7M | 5M |
| Q4 2024 | 123 | 37M | 42.1% | 48 / 26 | 29 / 15 | 9M | 5M |
| Q3 2024 | 91 | 32M | 36.5% | 91 / 0 | 0 / 3 | 32M | 0M |
| Q2 2024 | 3 | 0M | 0.1% | 3 / 0 | 0 / 0 | 0M | 0M |
Top mutual fund and ETF holders
Latest monthly portfolio reports (Form N-PORT)
158 funds held CLMT in Q2 2026, 77% of their shares through ETFs. Each fund counts once per quarter, from its quarter-end report.
| Fund | Shares | % of CLMT | Value | % of fund | As of |
|---|---|---|---|---|---|
| Vanguard Total Stock Market Index Fund | 2,628,999 | 2.99% | $94.70M | 0.00% | Jun 30, 2026 |
| State Street(R) SPDR(R) S&P(R) Oil & Gas Exploration & Production ETF | 1,810,330 | 2.06% | $65.21M | 2.24% | Jun 30, 2026 |
| iShares Russell 2000 ETF | 1,801,758 | 2.05% | $64.90M | 0.08% | Jun 30, 2026 |
| Fidelity Small Cap Index Fund | 754,715 | 0.86% | $33.35M | 0.10% | Jul 31, 2026 |
| Vanguard Extended Market Index Fund | 739,767 | 0.84% | $26.65M | 0.03% | Jun 30, 2026 |
| Vanguard Energy Index Fund | 479,288 | 0.55% | $17.00M | 0.14% | May 31, 2026 |
| iShares Russell 2000 Growth ETF | 476,588 | 0.54% | $17.17M | 0.11% | Jun 30, 2026 |
| Vanguard Russell 2000 Index Fund | 354,265 | 0.40% | $12.57M | 0.07% | May 31, 2026 |
| Fidelity Extended Market Index Fund | 331,265 | 0.38% | $11.75M | 0.03% | May 31, 2026 |
| Schwab U.S. Small-Cap ETF | 307,011 | 0.35% | $10.89M | 0.05% | May 31, 2026 |
| Hennessy Cornerstone Growth Fund | 283,200 | 0.32% | $12.51M | 2.58% | Jul 31, 2026 |
| Fidelity SAI Small-Mid Cap Momentum Index Fund | 196,131 | 0.22% | $8.67M | 0.21% | Jul 31, 2026 |
| First Trust Small Cap Growth AlphaDEX Fund | 194,903 | 0.22% | $8.61M | 0.66% | Jul 31, 2026 |
| Schwab Small-Cap Index Fund | 168,036 | 0.19% | $7.43M | 0.10% | Jul 31, 2026 |
| iShares Russell 2000 Value ETF | 167,046 | 0.19% | $6.02M | 0.04% | Jun 30, 2026 |
Officers, directors and major owners
People who filed Forms 3, 4 or 5 in the last two years
| Name | Role | Shares owned | % of shares | Latest filing |
|---|---|---|---|---|
| David Lunin | EVP - CFO | 14,546 | 0.02% | Oct 21, 2026 |
| Gregory J. Morical | SVP, GENERAL COUNSEL | 78,505 | 0.09% | Sep 28, 2026 |
| Bruce A. Fleming | EVP - MONTANA RENEWABLES | 657,391 | 0.75% | Sep 28, 2026 |
| Louis Todd Borgmann | CHIEF EXECUTIVE OFFICER | 371,170 | 0.42% | Sep 28, 2026 |
| John Robert Krutz | Chief Accounting Officer | 550 | 0.00% | Apr 2, 2026 |
| Scott Obermeier | EVP - SPECIALTIES | 237,656 | 0.27% | Mar 11, 2026 |
| Vincent Donargo | Chief Accounting Officer | 14,005 | 0.02% | Mar 13, 2025 |
| Stephen P. Mawer | Director | 348,410 | 0.40% | Sep 28, 2026 |
| Paul C. Raymond | Director | 31,800 | 0.04% | Aug 21, 2026 |
| Amy M. Schumacher | Director | 258,160 | 0.29% | Aug 21, 2026 |
| John G. Boss | Director | 33,033 | 0.04% | Aug 21, 2026 |
| Julio M. Quintana | Director | 7,067 | 0.01% | Jul 13, 2026 |
| Karen A. Twitchell | Director | 13,389 | 0.02% | Jul 13, 2026 |
| Daniel J. Sajkowski | Director | 81,958 | 0.09% | Jul 13, 2026 |
| Karen G. Narwold | Director | 7,067 | 0.01% | Jul 13, 2026 |
| Bradford Timothy Sanders | Director | – | – | Jun 4, 2026 |
| Jennifer Straumins | Director | 943,438 | 1.07% | Dec 5, 2025 |
| James S. Carter | Director | 394,632 | 0.45% | Jun 11, 2025 |
| Daniel L. Sheets | Director | 26,824 | 0.03% | Jun 11, 2025 |
| Group Heritage | 10% owner | 13,640,211 | 15.52% | Jun 5, 2026 |
Insider trades
Common stock transactions reported on Form 4, newest first
| Insider | Date | Transaction | Shares | Price | Value | Shares after |
|---|---|---|---|---|---|---|
| David Lunin EVP - CFO | Oct 19, 2026 | Tax withholding | −7,954 | – | – | 14,546 |
| David Lunin EVP - CFO | Oct 19, 2026 | Option exercise | +20,000 | – | – | 22,500 |
| Gregory J. Morical SVP, GENERAL COUNSEL | Sep 25, 2026 | Option exercise | +30,694 | – | – | 78,505 |
| Gregory J. Morical SVP, GENERAL COUNSEL | Sep 25, 2026 | Tax withholding | −13,560 | – | – | 64,945 |
| Louis Todd Borgmann CHIEF EXECUTIVE OFFICER | Sep 25, 2026 | Option exercise | +107,428 | – | – | 371,170 |
| Louis Todd Borgmann CHIEF EXECUTIVE OFFICER | Sep 25, 2026 | Tax withholding | −46,901 | – | – | 324,269 |
| Bruce A. Fleming EVP - MONTANA RENEWABLES | Sep 25, 2026 | Option exercise | +107,428 | – | – | 657,391 |
| Bruce A. Fleming EVP - MONTANA RENEWABLES | Sep 25, 2026 | Tax withholding | −42,190 | – | – | 615,201 |
| Stephen P. Mawer Director | Sep 25, 2026 | Sale | −24,555 | – | – | 348,410 |
| Stephen P. Mawer Director | Sep 25, 2026 | Option exercise | +61,387 | – | – | 372,965 |
| Amy M. Schumacher Director | Jul 9, 2026 | Option exercise | +7,067 | – | – | 258,160 |
| Julio M. Quintana Director | Jul 9, 2026 | Option exercise | +7,067 | – | – | 7,067 |
| Karen G. Narwold Director | Jul 9, 2026 | Option exercise | +7,067 | – | – | 7,067 |
| John G. Boss Director | Jul 9, 2026 | Tax withholding | −2,827 | – | – | 33,033 |
| John G. Boss Director | Jul 9, 2026 | Option exercise | +7,067 | – | – | 35,860 |
| Stephen P. Mawer Director | Jul 9, 2026 | Option exercise | +13,780 | – | – | 317,090 |
| Stephen P. Mawer Director | Jul 9, 2026 | Tax withholding | −5,512 | – | – | 311,578 |
| Daniel J. Sajkowski Director | Jul 9, 2026 | Tax withholding | −2,827 | – | – | 81,958 |
| Daniel J. Sajkowski Director | Jul 9, 2026 | Option exercise | +7,067 | – | – | 84,785 |
| Karen A. Twitchell Director | Jul 9, 2026 | Option exercise | +7,067 | – | – | 13,389 |
| Paul C. Raymond Director | Jul 9, 2026 | Option exercise | +7,067 | – | – | 31,800 |
| Paul C. Raymond Director | Jul 9, 2026 | Tax withholding | −2,827 | – | – | 28,973 |
| Daniel J. Sajkowski Director | Jul 1, 2026 | Sale(10b5-1 plan) | −4,240 | $36.16 | $153.32K | 77,718 |
| Group Heritage 10% owner | Jun 5, 2026 | Gift | −540,000 | – | – | 12,440,211 |
| Group Heritage 10% owner | May 15, 2026 | Option exercise | +1,020,000 | $20.00 | $20.40M | 13,607,209 |
| Group Heritage 10% owner | May 15, 2026 | Sale | −626,998 | $32.54 | $20.40M | 12,980,211 |
| Daniel J. Sajkowski Director | Apr 1, 2026 | Sale(10b5-1 plan) | −3,310 | $34.46 | $114.06K | 81,958 |
| Louis Todd Borgmann CHIEF EXECUTIVE OFFICER | Mar 9, 2026 | Option exercise | +49,974 | – | – | 285,540 |
| Louis Todd Borgmann CHIEF EXECUTIVE OFFICER | Mar 9, 2026 | Tax withholding | −21,798 | – | – | 263,742 |
| Gregory J. Morical SVP, GENERAL COUNSEL | Mar 9, 2026 | Tax withholding | −6,952 | – | – | 47,811 |
| Gregory J. Morical SVP, GENERAL COUNSEL | Mar 9, 2026 | Option exercise | +15,348 | – | – | 54,763 |
| Stephen P. Mawer Director | Mar 9, 2026 | Option exercise | +27,806 | – | – | 315,899 |
| Stephen P. Mawer Director | Mar 9, 2026 | Tax withholding | −12,589 | – | – | 303,310 |
| Scott Obermeier EVP - SPECIALTIES | Mar 9, 2026 | Tax withholding | −10,584 | – | – | 237,656 |
| Scott Obermeier EVP - SPECIALTIES | Mar 9, 2026 | Option exercise | +24,090 | – | – | 248,240 |
| Bruce A. Fleming EVP - MONTANA RENEWABLES | Mar 9, 2026 | Option exercise | +20,621 | – | – | 558,119 |
| Bruce A. Fleming EVP - MONTANA RENEWABLES | Mar 9, 2026 | Tax withholding | −8,156 | – | – | 549,963 |
| Bruce A. Fleming EVP - MONTANA RENEWABLES | Dec 17, 2025 | Gift | −50,000 | – | – | 537,498 |
| Daniel J. Sajkowski Director | Dec 4, 2025 | Option exercise | +5,053 | – | – | 87,290 |
| Daniel J. Sajkowski Director | Dec 4, 2025 | Sale | −2,022 | – | – | 85,268 |
| Amy M. Schumacher Director | Dec 4, 2025 | Option exercise | +5,053 | – | – | 251,093 |
| Karen A. Twitchell Director | Dec 4, 2025 | Option exercise | +2,526 | – | – | 6,322 |
| Paul C. Raymond Director | Dec 4, 2025 | Option exercise | +5,053 | – | – | 24,733 |
| John G. Boss Director | Dec 4, 2025 | Sale | −1,011 | – | – | 28,793 |
| John G. Boss Director | Dec 4, 2025 | Option exercise | +2,526 | – | – | 29,804 |
| Daniel J. Sajkowski Director | Dec 4, 2025 | Option exercise | +5,053 | – | – | 169,290 |
| Daniel J. Sajkowski Director | Dec 4, 2025 | Sale | −2,022 | – | – | 167,268 |
| Jennifer Straumins Director | Dec 4, 2025 | Option exercise | +5,053 | – | – | 943,438 |
| Daniel J. Sajkowski Director | Jul 1, 2025 | Sale(10b5-1 plan) | −2,000 | $15.77 | $31.54K | 82,237 |
| Daniel J. Sajkowski Director | Jun 24, 2025 | Sale | −1,518 | – | – | 84,237 |
| Daniel J. Sajkowski Director | Jun 24, 2025 | Option exercise | +3,796 | – | – | 85,755 |
| John G. Boss Director | Jun 24, 2025 | Sale | −1,518 | – | – | 27,278 |
| John G. Boss Director | Jun 24, 2025 | Option exercise | +3,796 | – | – | 28,796 |
| Jennifer Straumins Director | Jun 24, 2025 | Option exercise | +3,796 | – | – | 938,385 |
| Stephen P. Mawer Director | Jun 24, 2025 | Option exercise | +7,403 | – | – | 291,055 |
| Stephen P. Mawer Director | Jun 24, 2025 | Sale | −2,962 | – | – | 288,093 |
| Paul C. Raymond Director | Jun 24, 2025 | Option exercise | +3,796 | – | – | 19,680 |
| Daniel J. Sajkowski Director | Jun 24, 2025 | Option exercise | +3,796 | – | – | 165,755 |
| Daniel J. Sajkowski Director | Jun 24, 2025 | Sale | −1,518 | – | – | 164,237 |
| Karen A. Twitchell Director | Jun 24, 2025 | Option exercise | +3,796 | – | – | 3,796 |
Awards, option exercises, tax withholding and gifts are shown alongside open-market buys and sales. Each name links to the filing on SEC EDGAR.
Short interest
Shares sold short and not yet bought back, as of Oct 30, 2026 (FINRA, reported twice a month)
Short % of float
6.32%
4M shares short
Days to cover
2.9
At 2M shares a day
Change since last report
+1.5%
From 4M shares
Short volume, 20 days
40.6%
Of volume reported to FINRA
Shares sold short, last 12 months
Short sale volume counts trades marked short on any given day, including market-maker hedging, so it runs far higher than the share of Calumet's stock actually held short. Settlement fails (shares not delivered on time) peaked at 4,087 shares on Sep 21, 2026 over the last 90 days.
Planned insider sales
Notices of proposed sale filed on Form 144 before shares are sold
| Seller | Filed | Shares | Market value | Planned sale | Acquired through |
|---|---|---|---|---|---|
| Daniel J. Sajkowski Director | Jul 1, 2026 | 4,240 | $152.72K | Jul 1, 2026 | Executive compensation for board participation |
| Daniel J. Sajkowski Director | Apr 1, 2026 | 3,310 | $118.83K | Apr 1, 2026 | Executive compensation for board participation |
| Daniel J. Sajkowski Director | Jul 1, 2025 | 2,000 | $31.51K | Jul 1, 2025 | Executive compensation for board participation |
| Gregory J. Morical Officer | Jun 16, 2025 | 25,123 | $415.28K | Jun 16, 2025 | Stock Award |
| Jennifer Straumins Director | Jun 16, 2025 | 100,000 | $1.62M | Jun 16, 2025 | CommonStock,parvalue$0.01pershare,acquiredpursuanttoCalumet,Inc.Conversion Agreement |
| Jennifer Straumins Director | Jun 13, 2025 | 50,000 | $754.13K | Jun 13, 2025 | CommonStock, parvalue$0.01pershare,acquired pursuant toCalumet,Inc.Conversion Agreement |
| Jennifer Straumins Director | Jun 5, 2025 | 100,000 | $1.31M | Jun 5, 2025 | CommonStock, parvalue$0.01pershare,acquired pursuant toCalumet,Inc.Conversion Agreement |
| Stephen P. Mawer Officer, Director | Apr 23, 2025 | 3,655 | $33.54K | Apr 22, 2025 | Equity Award |
| Stephen P. Mawer Officer, Director | Mar 24, 2025 | 3,655 | $46.67K | Mar 24, 2025 | Equity Award |
| Stephen P. Mawer Officer, Director | Mar 6, 2025 | 3,655 | $45.80K | Mar 6, 2025 | Equity Award |
| Daniel J. Sajkowski Director | Mar 3, 2025 | 80,000 | $1.15M | Mar 3, 2025 | Executive compensation for board participation |
| Jennifer Straumins Director | Dec 18, 2024 | 50,000 | $1.08M | Dec 18, 2024 | Common Stock, par value $0.01per share,acquired pursuant to Calumet, Inc.Conversion Agreement |
| Jennifer Straumins Director | Dec 3, 2024 | 75,000 | $1.65M | Dec 3, 2024 | Common Stock, par value $0.01 per share, acquired pursuant to Calumet, Inc. Conversion Agreement |
| Jennifer Straumins Director | Nov 14, 2024 | 200,000 | $4.06M | Nov 12, 2024 | Common Stock, par value $0.01 per share, acquired pursuant to Calumet, Inc. Conversion Agreement |
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