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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
+16.75%
1 Year Est. Return
+77.62%
3 Year Est. Return
+71.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$269M
AUM Growth
+$15.3M
Cap. Flow
+$9.12M
Cap. Flow %
3.39%
Top 10 Hldgs %
70.79%
Holding
69
New
31
Increased
5
Reduced
7
Closed
26

Top Buys

Rank Stock Value
1
IPX
IperionX
IPX
+$42.5M
2
CMC icon
Commercial Metals
CMC
+$13.8M
3
DK icon
Delek US
DK
+$10.3M
4
METC icon
Ramaco Resources Class A
METC
+$8.65M
5
AA icon
Alcoa
AA
+$7.03M

Top Sells

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$19.1M
2
DINO icon
HF Sinclair
DINO
+$16.5M
3
SOC icon
Sable Offshore Corp
SOC
+$15.3M
4
GPOR icon
Gulfport Energy Corp
GPOR
+$8.16M
5
SDRL icon
Seadrill
SDRL
+$7.99M

Sector Composition

Rank Sector Weight
1 Energy 23.29%
2 Materials 23.16%
3 Industrials 7.2%
4 Consumer Staples 3.63%
5 Consumer Discretionary 0.83%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
SGML icon
26
Sigma Lithium
SGML
$1.24B
$2M 0.75%
433,914
-10,066
-2% -$66.4K
OLN icon
27
CALL
Olin
OLN
$2.17B
$1.89M 0.7%
+100,000
New +$2.08M
VOO icon
28
Vanguard S&P 500 ETF
VOO
$1.01T
$1.59M 0.59%
+2,812
New +$1.48M
PEJ icon
29
Invesco Leisure and Entertainment ETF
PEJ
$254M
$1.4M 0.52%
+24,600
New +$1.25M
IREN icon
30
Iris Energy
IREN
$14.6B
$938K 0.35%
+67,000
New +$544K
SM icon
31
SM Energy
SM
$7.44B
$931K 0.35%
+37,100
New +$898K
RIOT icon
32
Riot Platforms
RIOT
$8.15B
$867K 0.32%
+82,200
New +$699K
LUV icon
33
Southwest Airlines
LUV
$23.8B
$852K 0.32%
+26,500
New +$798K
INVX
34
Innovex International
INVX
$2.21B
$761K 0.28%
48,609
+28,100
+137% +$432K
WGO icon
35
Winnebago Industries
WGO
$901M
$598K 0.22%
+20,500
New +$672K
ASTL icon
36
CALL
Algoma Steel
ASTL
$445M
$535K 0.2%
+100,000
New +$558K
SNCY
37
DELISTED
Sun Country Airlines
SNCY
$507K 0.19%
+42,700
New +$469K
CWH icon
38
Camping World
CWH
$676M
$495K 0.18%
+27,400
New +$427K
THO icon
39
Thor Industries
THO
$4.16B
$484K 0.18%
+5,400
New +$427K
DOO
40
Bombardier Recreational Products
DOO
$4.73B
$357K 0.13%
+7,400
New +$292K
PII icon
41
Polaris
PII
$4.2B
$307K 0.11%
+7,500
New +$283K
SPHR icon
42
Sphere Entertainment
SPHR
$5.69B
$212K 0.08%
+5,000
New +$169K
RUN icon
43
CALL
Sunrun
RUN
$2.63B
$205K 0.08%
+20,000
New +$157K
ADM icon
44
Archer Daniels Midland
ADM
$38.5B
– –
-151,300
Closed -$7.24M
APA icon
45
CALL
APA Corp
APA
$12.7B
– –
-100,000
Closed -$1.58M
ASTL icon
46
Algoma Steel
ASTL
$445M
– –
-737,877
Closed -$4.12M
ATLX icon
47
Atlas Lithium Corp
ATLX
$86.7M
– –
-96,956
Closed -$514K
BG icon
48
Bunge Global
BG
$20.5B
– –
-67,400
Closed -$5.15M
BRY
49
DELISTED
Berry Corp
BRY
– –
-37,499
Closed -$119K
CRGY icon
50
Crescent Energy
CRGY
$3.73B
– –
-579,150
Closed -$6.45M
1
2
3

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BOCH
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GIP
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Thomist Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Thomist Capital Management held 69 positions worth $269M, up 6% from $254M the previous quarter. Its ten largest holdings account for 71% of the portfolio.

Thomist Capital Management deployed $9.12M of net new capital in Q2 2025, opening 31 new positions and adding to 5 existing holdings. Its largest new stake was IperionX: 1,885,203 shares worth $5.84M.

By sector, the portfolio is most concentrated in Energy at 23% of assets, down from 41% a quarter earlier, followed by Materials and Industrials.

On the sell side, the largest reduction was HF Sinclair, an estimated $16.5M trimmed.

  • Thomist Capital Management's largest Q2 2025 buy was IperionX: 1,885,203 shares worth $5.84M.
  • Thomist Capital Management added most to Tyson Foods in Q2 2025, an estimated $5.39M increase.
  • Thomist Capital Management's biggest Q2 2025 reduction was HF Sinclair, cutting an estimated $16.5M.
  • Thomist Capital Management fully exited State Street SPDR S&P 500 ETF Trust in Q2 2025, selling an estimated $19.1M.
  • Thomist Capital Management's ten largest holdings make up 71% of its $269M portfolio in Q2 2025.
  • Thomist Capital Management opened 31 new positions and closed 26 in Q2 2025.
  • Thomist Capital Management's portfolio value rose 6% quarter-over-quarter to $269M.

Based on Thomist Capital Management's 13F filing for Q2 2025, filed 13 Aug 2025.