Sam and Dean investigate the mysterious demise of drowned victims who were nowhere near the water at the time of their death. The brothers learn each of the victims saw a ghost ship shortly before they died. Upon investigation, they cross paths with Bela, who is being paid handsomely by one of the murder victim's family members to solve the case. Sam and Dean warn her to stay out of their way, but she has other plans.

It's Christmas time and Sam and Dean investigate a series of murders where the victims were pulled up through the chimney. Sam realizes they are dealing with a sort of Anti-Santa, a demon with roots in pagan lore. Dean wants to celebrate Christmas the old fashioned way as this is his last, but Sam refuses, not wanting to accept that Dean won't be around next year. Sam flashes back to a certain Christmas when he waited for his father to come home to give him a special gift.