Here’s Why Crossroads Capital Sold Its Stake in Calumet (CLMT)

2 days ago 6

Soumya Eswaran

Mon, March 2, 2026 astatine 8:24 AM CST 3 min read

Crossroads Capital LLC, an concern absorption company, released its fourth-quarter 2025 capitalist letter. A transcript of the missive tin beryllium downloaded here. The money roseate 2.7% nett of fees and expenses successful Q4 2025, bringing its yearly instrumentality to 37.7% net. Since its inception, the Fund compounded astatine the complaint of 21.2% gross and 17.1% net. By the extremity of December 2025, the Fund's wide non-delta adjusted gross and nett vulnerability were recorded astatine 89.7% and 72.1%, respectively. After a beardown Q3, November revealed however rapidly marketplace sentiment tin displacement owed to AI bubble concerns, Federal Reserve uncertainty, and progressively bearish positioning. Q4 revealed the market's progressively volatile quality portion besides demonstrating reflexivity alternatively than avoiding it. The steadfast remains cautiously optimistic that the affirmative inclination successful marketplace breadth and a increasing involvement successful small-cap stocks volition transportation into 2026, giving it a much-needed boost that Crossroads has agelong anticipated. In addition, delight cheque the Fund’s apical 5 holdings to cognize its champion picks successful 2025.

In its fourth-quarter 2025 capitalist letter, Crossroads Capital highlighted stocks similar Calumet, Inc. (NASDAQ:CLMT). Calumet, Inc. (NASDAQ:CLMT) is simply a specialty products and renewable fuels shaper to assorted consumer-facing and concern markets. On February 27, 2026, Calumet, Inc. (NASDAQ:CLMT) banal closed astatine $26.96 per share. One-month instrumentality of Calumet, Inc. (NASDAQ:CLMT) was 18.61%, and its shares gained 100.30% implicit the past 52 weeks. Calumet, Inc. (NASDAQ:CLMT) has a marketplace capitalization of $2.34 billion.

Crossroads Capital stated the pursuing regarding Calumet, Inc. (NASDAQ:CLMT) successful its 4th fourth 2025 capitalist letter:

"Our lone meaningful detractor was Calumet, Inc. (NASDAQ:CLMT), which we sold pursuing the company's disastrous DOE indebtedness announcement and an unnecessary and, frankly, baffling ATM offering that destroyed our assurance successful management. A constructive macro situation provided immoderate reprieve for them arsenic the twelvemonth closed out, but we mislaid religion successful the team’s quality to steward superior going forward."

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Calumet, Inc. (NASDAQ:CLMT) is not connected our database of 30 Most Popular Stocks Among Hedge Funds. According to our database, 17 hedge money portfolios held Calumet, Inc. (NASDAQ:CLMT) astatine the extremity of the 4th quarter, compared to 18 successful the erstwhile quarter. While we admit the imaginable of Calumet, Inc. (NASDAQ:CLMT) arsenic an investment, we judge definite AI stocks connection greater upside imaginable and transportation little downside risk. If you're looking for an highly undervalued AI banal that besides stands to payment importantly from Trump-era tariffs and the onshoring trend, spot our escaped study connected the best short-term AI stock.

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