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TCM
Thomist Capital Management Portfolio holdings
AUM
$371M
1-Year Est. Return
77.62%
This Fund
S&P 500
This Quarter
Est. Return
-7.37%
1 Year Est. Return
+77.62%
3 Year Est. Return
+71.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$254M
AUM Growth
-$131M
(-34%)
Cap. Flow
-$104M
Cap. Flow
% of AUM
-41.09%
Top 10 Holdings %
Top 10 Hldgs %
59.38%
Holding
71
New
21
Increased
9
Reduced
8
Closed
33
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Seadrill
SDRL
|
+$28.2M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$20.2M |
| 3 |
Hudbay
HBM
|
+$13.7M |
| 4 |
HF Sinclair
DINO
|
+$9.61M |
| 5 |
Gulfport Energy Corp
GPOR
|
+$8.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Steel Dynamics
STLD
|
+$31.8M |
| 2 |
Algoma Steel
ASTL
|
+$20.7M |
| 3 |
Chord Energy
CHRD
|
+$18.4M |
| 4 |
Phillips 66
PSX
|
+$16.6M |
| 5 |
Warrior Met Coal
HCC
|
+$12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 41.27% |
| 2 | Materials | 27.11% |
| 3 | Consumer Staples | 10.11% |
| 4 | Financials | 0% |
| 5 | Industrials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
26
CALL
Darling Ingredients
DAR
$9.44B
| $3.28M | 1.29% |
100,000
+50,000
| +100% | +$1.75M |
|
27
Pilgrim's Pride
PPC
$6.54B
| $3.13M | 1.24% |
+58,700
| New | +$2.94M |
|
28
Par Pacific Holdings
PARR
$3.32B
| $1.59M | 0.63% |
111,789
+88,321
| +376% | +$1.39M |
|
29
CALL
APA Corp
APA
$13.2B
| $1.58M | 0.62% |
+100,000
| New | +$2.2M |
|
|
VTLE
30
DELISTED
Vital Energy
VTLE
| $1.11M | 0.44% |
+51,636
| New | +$1.5M |
|
31
Tyson Foods
TSN
$20.4B
| $951K | 0.38% |
+15,255
| New | +$896K |
|
32
iShares Bitcoin Trust
IBIT
$47.8B
| $923K | 0.36% |
+19,400
| New | +$1.03M |
|
|
VTLE
33
CALL
DELISTED
Vital Energy
VTLE
| $699K | 0.28% |
+50,000
| New | +$1.45M |
|
34
Century Aluminum
CENX
$5.07B
| $699K | 0.28% |
+37,646
| New | +$723K |
|
|
X
35
CALL
DELISTED
US Steel
X
| $641K | 0.25% |
+15,100
| New | +$571K |
|
36
Atlas Lithium Corp
ATLX
$91.7M
| $514K | 0.2% |
96,956
-5,102
| -5% | -$30.3K |
|
|
INVX
37
Innovex International
INVX
$1.97B
| $367K | 0.14% |
+20,509
| New | +$348K |
|
|
BRY
38
DELISTED
Berry Corp
BRY
| $119K | 0.05% |
+37,499
| New | +$154K |
|
39
Alcoa
AA
$13.2B
| – | – |
-130,100
| Closed | -$4.83M |
|
40
Applied Digital
APLD
$8.41B
| – | – |
-74,756
| Closed | -$596K |
|
41
Peabody Energy
BTU
$2.9B
| – | – |
-533,817
| Closed | -$11.1M |
|
42
Coeur Mining
CDE
$17.9B
| – | – |
-280,000
| Closed | -$1.57M |
|
43
CF Industries
CF
$17.3B
| – | – |
-131,700
| Closed | -$11.1M |
|
|
44
Chord Energy
CHRD
$7.39B
| – | – |
-161,300
| Closed | -$18.4M |
|
|
CIVI
45
DELISTED
Civitas Resources
CIVI
| – | – |
-90,600
| Closed | -$4.04M |
|
46
Cleveland-Cliffs
CLF
$6.99B
| – | – |
-590,300
| Closed | -$5.52M |
|
47
CALL
CNX Resources
CNX
$5.2B
| – | – |
-200,000
| Closed | -$7.41M |
|
48
ConocoPhillips
COP
$141B
| – | – |
-20,300
| Closed | -$2.01M |
|
49
Core Scientific
CORZ
$6.75B
| – | – |
-35,360
| Closed | -$491K |
|
50
CVR Energy
CVI
$3.13B
| – | – |
-42,100
| Closed | -$781K |
|
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Thomist Capital Management's Q1 2025 Portfolio in Review
As of Q1 2025, Thomist Capital Management held 71 positions worth $254M, down 34% from $385M the previous quarter. Its ten largest holdings account for 59% of the portfolio.
Thomist Capital Management withdrew a net $104M in Q1 2025, closing 33 positions and reducing 8 holdings. Its most notable exit was Chord Energy, an estimated $18.4M position sold in full.
By sector, the portfolio is most concentrated in Energy at 41% of assets, up from 31% a quarter earlier, followed by Materials and Consumer Staples.
Against the trend, Thomist Capital Management opened a new position in State Street SPDR S&P 500 ETF Trust worth $19.1M.
- Thomist Capital Management's largest Q1 2025 buy was State Street SPDR S&P 500 ETF Trust: 34,400 shares worth $19.1M.
- Thomist Capital Management added most to Seadrill in Q1 2025, an estimated $28.2M increase.
- Thomist Capital Management's biggest Q1 2025 reduction was Steel Dynamics, cutting an estimated $31.8M.
- Thomist Capital Management fully exited Chord Energy in Q1 2025, selling an estimated $18.4M.
- Thomist Capital Management's ten largest holdings make up 59% of its $254M portfolio in Q1 2025.
- Thomist Capital Management opened 21 new positions and closed 33 in Q1 2025.
- Thomist Capital Management's portfolio value fell 34% quarter-over-quarter to $254M.
Based on Thomist Capital Management's 13F filing for Q1 2025, filed 14 May 2025.