diff --git a/codex-rs/Cargo.lock b/codex-rs/Cargo.lock
index 3a584d948..59d23a4a0 100644
--- a/codex-rs/Cargo.lock
+++ b/codex-rs/Cargo.lock
@@ -1699,6 +1699,7 @@ dependencies = [
  "codex-mcp",
  "codex-mcp-server",
  "codex-model-provider",
+ "codex-models-manager",
  "codex-protocol",
  "codex-responses-api-proxy",
  "codex-rmcp-client",
diff --git a/codex-rs/cli/Cargo.toml b/codex-rs/cli/Cargo.toml
index ba1c321bc..4bd092353 100644
--- a/codex-rs/cli/Cargo.toml
+++ b/codex-rs/cli/Cargo.toml
@@ -37,6 +37,7 @@ codex-features = { workspace = true }
 codex-login = { workspace = true }
 codex-mcp = { workspace = true }
 codex-mcp-server = { workspace = true }
+codex-models-manager = { workspace = true }
 codex-model-provider = { workspace = true }
 codex-protocol = { workspace = true }
 codex-responses-api-proxy = { workspace = true }
diff --git a/codex-rs/cli/src/main.rs b/codex-rs/cli/src/main.rs
index e8f95d648..849e8b104 100644
--- a/codex-rs/cli/src/main.rs
+++ b/codex-rs/cli/src/main.rs
@@ -49,6 +49,7 @@ use crate::mcp_cmd::McpCli;
 use crate::responses_cmd::ResponsesCommand;
 use crate::responses_cmd::run_responses_command;
 
+use codex_core::build_models_manager;
 use codex_core::clear_memory_roots_contents;
 use codex_core::config::Config;
 use codex_core::config::ConfigOverrides;
@@ -57,6 +58,10 @@ use codex_core::config::find_codex_home;
 use codex_features::FEATURES;
 use codex_features::Stage;
 use codex_features::is_known_feature_key;
+use codex_models_manager::AuthManager;
+use codex_models_manager::bundled_models_response;
+use codex_models_manager::collaboration_mode_presets::CollaborationModesConfig;
+use codex_models_manager::manager::RefreshStrategy;
 use codex_protocol::protocol::AskForApproval;
 use codex_protocol::user_input::UserInput;
 use codex_terminal_detection::TerminalName;
@@ -200,6 +205,9 @@ struct DebugCommand {
 
 #[derive(Debug, clap::Subcommand)]
 enum DebugSubcommand {
+    /// Render the raw model catalog as JSON.
+    Models(DebugModelsCommand),
+
     /// Tooling: helps debug the app server.
     AppServer(DebugAppServerCommand),
 
@@ -240,6 +248,13 @@ struct DebugPromptInputCommand {
     images: Vec<PathBuf>,
 }
 
+#[derive(Debug, Parser)]
+struct DebugModelsCommand {
+    /// Skip refresh and dump only the bundled catalog shipped with this binary.
+    #[arg(long = "bundled", default_value_t = false)]
+    bundled: bool,
+}
+
 #[derive(Debug, Parser)]
 struct ResumeCommand {
     /// Conversation/session id (UUID) or thread name. UUIDs take precedence if it parses.
@@ -990,6 +1005,14 @@ async fn cli_main(arg0_paths: Arg0DispatchPaths) -> anyhow::Result<()> {
             }
         },
         Some(Subcommand::Debug(DebugCommand { subcommand })) => match subcommand {
+            DebugSubcommand::Models(cmd) => {
+                reject_remote_mode_for_subcommand(
+                    root_remote.as_deref(),
+                    root_remote_auth_token_env.as_deref(),
+                    "debug models",
+                )?;
+                run_debug_models_command(cmd, root_config_overrides).await?;
+            }
             DebugSubcommand::AppServer(cmd) => {
                 reject_remote_mode_for_subcommand(
                     root_remote.as_deref(),
@@ -1279,6 +1302,31 @@ async fn run_debug_prompt_input_command(
     Ok(())
 }
 
+async fn run_debug_models_command(
+    cmd: DebugModelsCommand,
+    root_config_overrides: CliConfigOverrides,
+) -> anyhow::Result<()> {
+    let catalog = if cmd.bundled {
+        bundled_models_response()?
+    } else {
+        let cli_overrides = root_config_overrides
+            .parse_overrides()
+            .map_err(anyhow::Error::msg)?;
+        let config = Config::load_with_cli_overrides(cli_overrides).await?;
+        let auth_manager =
+            AuthManager::shared_from_config(&config, /*enable_codex_api_key_env*/ true);
+        let models_manager =
+            build_models_manager(&config, auth_manager, CollaborationModesConfig::default());
+        models_manager
+            .raw_model_catalog(RefreshStrategy::OnlineIfUncached)
+            .await
+    };
+
+    serde_json::to_writer(std::io::stdout(), &catalog)?;
+    println!();
+    Ok(())
+}
+
 async fn run_debug_clear_memories_command(
     root_config_overrides: &CliConfigOverrides,
     interactive: &TuiCli,
@@ -1701,6 +1749,21 @@ mod tests {
         );
     }
 
+    #[test]
+    fn debug_models_parses_bundled_flag() {
+        let cli =
+            MultitoolCli::try_parse_from(["codex", "debug", "models", "--bundled"]).expect("parse");
+
+        let Some(Subcommand::Debug(DebugCommand {
+            subcommand: DebugSubcommand::Models(cmd),
+        })) = cli.subcommand
+        else {
+            panic!("expected debug models subcommand");
+        };
+
+        assert!(cmd.bundled);
+    }
+
     #[test]
     fn responses_subcommand_is_hidden_from_help_but_parses() {
         let help = MultitoolCli::command().render_help().to_string();
diff --git a/codex-rs/cli/tests/debug_models.rs b/codex-rs/cli/tests/debug_models.rs
new file mode 100644
index 000000000..f927742a5
--- /dev/null
+++ b/codex-rs/cli/tests/debug_models.rs
@@ -0,0 +1,40 @@
+use std::path::Path;
+
+use anyhow::Result;
+use tempfile::TempDir;
+
+fn codex_command(codex_home: &Path) -> Result<assert_cmd::Command> {
+    let mut cmd = assert_cmd::Command::new(codex_utils_cargo_bin::cargo_bin("codex")?);
+    cmd.env("CODEX_HOME", codex_home);
+    Ok(cmd)
+}
+
+#[test]
+fn debug_models_bundled_prints_json() -> Result<()> {
+    let codex_home = TempDir::new()?;
+    let mut cmd = codex_command(codex_home.path())?;
+    let output = cmd.args(["debug", "models", "--bundled"]).output()?;
+
+    assert!(output.status.success());
+    let stdout = String::from_utf8(output.stdout)?;
+    let value: serde_json::Value = serde_json::from_str(&stdout)?;
+    assert!(value["models"].is_array());
+    assert!(!value["models"].as_array().unwrap_or(&Vec::new()).is_empty());
+
+    Ok(())
+}
+
+#[test]
+fn debug_models_default_prints_json_without_auth() -> Result<()> {
+    let codex_home = TempDir::new()?;
+    let mut cmd = codex_command(codex_home.path())?;
+    let output = cmd.args(["debug", "models"]).output()?;
+
+    assert!(output.status.success());
+    let stdout = String::from_utf8(output.stdout)?;
+    let value: serde_json::Value = serde_json::from_str(&stdout)?;
+    assert!(value["models"].is_array());
+    assert!(!value["models"].as_array().unwrap_or(&Vec::new()).is_empty());
+
+    Ok(())
+}
diff --git a/codex-rs/core/src/lib.rs b/codex-rs/core/src/lib.rs
index 1fef33c3f..1809789a8 100644
--- a/codex-rs/core/src/lib.rs
+++ b/codex-rs/core/src/lib.rs
@@ -122,6 +122,7 @@ pub(crate) mod windows_sandbox_read_grants;
 pub use thread_manager::ForkSnapshot;
 pub use thread_manager::NewThread;
 pub use thread_manager::ThreadManager;
+pub use thread_manager::build_models_manager;
 pub use web_search::web_search_action_detail;
 pub use web_search::web_search_detail;
 pub use windows_sandbox_read_grants::grant_read_root_non_elevated;
diff --git a/codex-rs/core/src/thread_manager.rs b/codex-rs/core/src/thread_manager.rs
index 03bf768ac..e4da99bb5 100644
--- a/codex-rs/core/src/thread_manager.rs
+++ b/codex-rs/core/src/thread_manager.rs
@@ -217,6 +217,26 @@ pub(crate) struct ThreadManagerState {
     ops_log: Option<SharedCapturedOps>,
 }
 
+pub fn build_models_manager(
+    config: &Config,
+    auth_manager: Arc<AuthManager>,
+    collaboration_modes_config: CollaborationModesConfig,
+) -> Arc<ModelsManager> {
+    let openai_models_provider = config
+        .model_providers
+        .get(OPENAI_PROVIDER_ID)
+        .cloned()
+        .unwrap_or_else(|| ModelProviderInfo::create_openai_provider(/*base_url*/ None));
+
+    Arc::new(ModelsManager::new_with_provider(
+        config.codex_home.to_path_buf(),
+        auth_manager,
+        config.model_catalog.clone(),
+        collaboration_modes_config,
+        openai_models_provider,
+    ))
+}
+
 impl ThreadManager {
     pub fn new(
         config: &Config,
@@ -228,11 +248,6 @@ impl ThreadManager {
     ) -> Self {
         let codex_home = config.codex_home.clone();
         let restriction_product = session_source.restriction_product();
-        let openai_models_provider = config
-            .model_providers
-            .get(OPENAI_PROVIDER_ID)
-            .cloned()
-            .unwrap_or_else(|| ModelProviderInfo::create_openai_provider(/*base_url*/ None));
         let (thread_created_tx, _) = broadcast::channel(THREAD_CREATED_CHANNEL_CAPACITY);
         let plugins_manager = Arc::new(PluginsManager::new_with_restriction_product(
             codex_home.to_path_buf(),
@@ -240,7 +255,7 @@ impl ThreadManager {
         ));
         let mcp_manager = Arc::new(McpManager::new(Arc::clone(&plugins_manager)));
         let skills_manager = Arc::new(SkillsManager::new_with_restriction_product(
-            codex_home.clone(),
+            codex_home,
             config.bundled_skills_enabled(),
             restriction_product,
         ));
@@ -249,13 +264,11 @@ impl ThreadManager {
             state: Arc::new(ThreadManagerState {
                 threads: Arc::new(RwLock::new(HashMap::new())),
                 thread_created_tx,
-                models_manager: Arc::new(ModelsManager::new_with_provider(
-                    codex_home.to_path_buf(),
+                models_manager: build_models_manager(
+                    config,
                     auth_manager.clone(),
-                    config.model_catalog.clone(),
                     collaboration_modes_config,
-                    openai_models_provider,
-                )),
+                ),
                 environment_manager,
                 skills_manager,
                 plugins_manager,
diff --git a/codex-rs/models-manager/src/manager.rs b/codex-rs/models-manager/src/manager.rs
index 4b0e2ca77..c029960a7 100644
--- a/codex-rs/models-manager/src/manager.rs
+++ b/codex-rs/models-manager/src/manager.rs
@@ -253,6 +253,16 @@ impl ModelsManager {
         self.build_available_models(remote_models)
     }
 
+    /// Return the active raw model catalog, refreshing according to the specified strategy.
+    pub async fn raw_model_catalog(&self, refresh_strategy: RefreshStrategy) -> ModelsResponse {
+        if let Err(err) = self.refresh_available_models(refresh_strategy).await {
+            error!("failed to refresh available models: {err}");
+        }
+        ModelsResponse {
+            models: self.get_remote_models().await,
+        }
+    }
+
     /// List collaboration mode presets.
     ///
     /// Returns a static set of presets seeded with the configured model.