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TCM

Thomist Capital Management Portfolio holdings

AUM $315M
1-Year Est. Return 50.03%
This Fund
S&P 500
This Quarter Est. Return
+22.17%
1 Year Est. Return
+50.03%
3 Year Est. Return
+71.17%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$371M
AUM Growth
-$99.5M
Cap. Flow
-$139M
Cap. Flow %
-37.29%
Top 10 Hldgs %
54.76%
Holding
106
New
41
Increased
8
Reduced
8
Closed
49

Top Buys

Rank Stock Value
1
ARIS
Aris Mining
ARIS
+$21.7M
2
STLD icon
Steel Dynamics
STLD
+$19.2M
3
SSRM icon
SSR Mining
SSRM
+$14.6M
4
DINO icon
HF Sinclair
DINO
+$14M
5
EQX icon
Equinox Gold
EQX
+$13.6M

Top Sells

Rank Stock Value
1
SDRL icon
Seadrill
SDRL
+$63.4M
2
SOC icon
Sable Offshore Corp
SOC
+$21.3M
3
DAR icon
Darling Ingredients
DAR
+$17.8M
4
AMPY icon
Amplify Energy
AMPY
+$16.4M
5
MPC icon
Marathon Petroleum
MPC
+$15.7M

Sector Composition

Rank Sector Weight
1 Energy 33.53%
2 Materials 28.66%
3 Industrials 7.8%
4 Consumer Discretionary 3.39%
5 Financials 0.79%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
OLN icon
26
Olin
OLN
$2.16B
$3.98M 1.07%
134,000
-371,833
-74% -$9.09M
PII icon
27
Polaris
PII
$3.91B
$3.75M 1.01%
68,785
+43,737
+175% +$2.74M
RYAAY icon
28
Ryanair
RYAAY
$30.5B
$3.18M 0.86%
+54,980
New +$3.63M
CWH icon
29
Camping World
CWH
$655M
$3.12M 0.84%
457,270
+293,290
+179% +$3.02M
DOO
30
Bombardier Recreational Products
DOO
$4.72B
$2.88M 0.77%
+40,085
New +$2.94M
HOG icon
31
Harley-Davidson
HOG
$2.93B
$2.84M 0.77%
+140,600
New +$2.76M
PARR icon
32
Par Pacific Holdings
PARR
$4.03B
$2.8M 0.75%
44,750
+36,327
+431% +$1.63M
ECO
33
Okeanis Eco Tankers
ECO
$2.37B
$2.79M 0.75%
+55,100
New +$2.42M
GDX icon
34
CALL
VanEck Gold Miners ETF
GDX
$27.4B
$2.75M 0.74%
+30,000
New +$2.96M
FF icon
35
CALL
Future Fuel
FF
$245M
$2.69M 0.73%
+700,000
New +$2.63M
KOS icon
36
Kosmos Energy
KOS
$1.54B
$2.58M 0.69%
+927,209
New +$1.74M
OGG
37
Osisko Gold Group Inc.
OGG
$862M
$2.57M 0.69%
+790,000
New +$2.94M
LNG icon
38
Cheniere Energy
LNG
$56B
$2.3M 0.62%
+8,100
New +$1.87M
DK icon
39
CALL
Delek US
DK
$4.02B
$2.25M 0.61%
+50,000
New +$1.79M
NAT icon
40
Nordic American Tanker
NAT
$1.42B
$1.99M 0.53%
+338,900
New +$1.6M
NVDA icon
41
NVIDIA
NVDA
$5.45T
$1.42M 0.38%
+8,140
New +$1.49M
HUT
42
Hut 8
HUT
$10.7B
$1.39M 0.37%
29,575
+15,975
+117% +$864K
SLSR
43
Solaris Resources
SLSR
$1.28B
$1.33M 0.36%
+154,632
New +$1.43M
RNGR icon
44
Ranger Energy Services
RNGR
$409M
$1.27M 0.34%
+73,881
New +$1.2M
BTG icon
45
CALL
B2Gold
BTG
$6.78B
$1.13M 0.31%
+250,100
New +$1.26M
ALK icon
46
Alaska Air
ALK
$5.14B
$1.05M 0.28%
+28,430
New +$1.37M
MP icon
47
CALL
MP Materials
MP
$10.5B
$965K 0.26%
+20,000
New +$1.2M
XPRO icon
48
Expro Ltd
XPRO
$2.12B
$951K 0.26%
+54,600
New +$897K
JBLU icon
49
CALL
JetBlue
JBLU
$2.11B
$853K 0.23%
+193,000
New +$979K
RIOT icon
50
Riot Platforms
RIOT
$7.16B
$834K 0.22%
+67,500
New +$1.04M
1
2
3 4 5

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Thomist Capital Management's Q1 2026 Portfolio in Review

As of Q1 2026, Thomist Capital Management held 106 positions worth $371M, down 21% from $471M the previous quarter. Its ten largest holdings account for 55% of the portfolio.

Thomist Capital Management withdrew a net $139M in Q1 2026, closing 49 positions and reducing 8 holdings. Its most notable exit was Seadrill, an estimated $63.4M position sold in full.

By sector, the portfolio is most concentrated in Energy at 34% of assets, down from 41% a quarter earlier, followed by Materials and Industrials.

Against the trend, Thomist Capital Management opened a new position in Aris Mining worth $21.3M.

  • Thomist Capital Management's largest Q1 2026 buy was Aris Mining: 1,147,572 shares worth $21.3M.
  • Thomist Capital Management added most to HF Sinclair in Q1 2026, an estimated $14M increase.
  • Thomist Capital Management's biggest Q1 2026 reduction was Amplify Energy, cutting an estimated $16.4M.
  • Thomist Capital Management fully exited Seadrill in Q1 2026, selling an estimated $63.4M.
  • Thomist Capital Management's ten largest holdings make up 55% of its $371M portfolio in Q1 2026.
  • Thomist Capital Management opened 41 new positions and closed 49 in Q1 2026.
  • Thomist Capital Management's portfolio value fell 21% quarter-over-quarter to $371M.

Based on Thomist Capital Management's 13F filing for Q1 2026, filed 15 May 2026.