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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
-1.38%
1 Year Est. Return
+50.03%
3 Year Est. Return
+71.17%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$315M
AUM Growth
-$56.9M
(-15%)
Cap. Flow
-$2.89M
Cap. Flow
% of AUM
-0.92%
Top 10 Holdings %
Top 10 Hldgs %
61.25%
Holding
82
New
25
Increased
12
Reduced
7
Closed
38
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Darling Ingredients
DAR
|
+$33.8M |
| 2 |
DHT Holdings
DHT
|
+$20.5M |
| 3 |
Green Plains
GPRE
|
+$20.2M |
| 4 |
Hudbay
HBM
|
+$18.6M |
| 5 |
Frontline
FRO
|
+$13.6M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
HF Sinclair
DINO
|
+$31.2M |
| 2 |
Steel Dynamics
STLD
|
+$19M |
| 3 |
SSR Mining
SSRM
|
+$16.1M |
| 4 |
Equinox Gold
EQX
|
+$12.9M |
| 5 |
PR
Permian Resources
PR
|
+$10.9M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 32.2% |
| 2 | Materials | 29.64% |
| 3 | Miscellaneous | 15.66% |
| 4 | Industrials | 10.79% |
| 5 | Consumer Staples | 9.83% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
51
PUT
CF Industries
CF
$19B
| – | – |
-150,000
| Closed | -$19.5M |
|
52
Camping World
CWH
$417M
| – | – |
-457,270
| Closed | -$3.12M |
|
|
53
CALL
Darling Ingredients
DAR
$10.1B
| – | – |
-450,000
| Closed | -$27.8M |
|
|
54
CALL
HF Sinclair
DINO
$17.7B
| – | – |
-70,000
| Closed | -$4.37M |
|
55
CALL
Delek US
DK
$4.42B
| – | – |
-50,000
| Closed | -$2.25M |
|
|
DOO
56
Bombardier Recreational Products
DOO
$4.54B
| – | – |
-40,085
| Closed | -$2.88M |
|
57
Eastman Chemical
EMN
$8.35B
| – | – |
-84,700
| Closed | -$6.46M |
|
|
58
Equinox Gold
EQX
$15.2B
| – | – |
-890,919
| Closed | -$12.9M |
|
59
CALL
Freeport-McMoran
FCX
$110B
| – | – |
-150,000
| Closed | -$8.82M |
|
60
CALL
Future Fuel
FF
$234M
| – | – |
-700,000
| Closed | -$2.69M |
|
61
Harley-Davidson
HOG
$2.92B
| – | – |
-140,600
| Closed | -$2.84M |
|
62
Iris Energy
IREN
$12.7B
| – | – |
-20,500
| Closed | -$703K |
|
63
CALL
JetBlue
JBLU
$1.81B
| – | – |
-193,000
| Closed | -$853K |
|
64
Kosmos Energy
KOS
$1.64B
| – | – |
-927,209
| Closed | -$2.58M |
|
65
Cheniere Energy
LNG
$58.3B
| – | – |
-8,100
| Closed | -$2.3M |
|
66
Southwest Airlines
LUV
$19.4B
| – | – |
-288,001
| Closed | -$10.8M |
|
67
CALL
MP Materials
MP
$10B
| – | – |
-20,000
| Closed | -$965K |
|
68
Nordic American Tanker
NAT
$1.43B
| – | – |
-338,900
| Closed | -$1.99M |
|
69
NVIDIA
NVDA
$5.25T
| – | – |
-8,140
| Closed | -$1.42M |
|
|
OGG
70
Osisko Gold Group
OGG
$939M
| – | – |
-790,000
| Closed | -$2.57M |
|
71
Olin
OLN
$1.95B
| – | – |
-134,000
| Closed | -$3.98M |
|
72
Polaris
PII
$3.63B
| – | – |
-68,785
| Closed | -$3.75M |
|
|
PR
73
Permian Resources
PR
$19B
| – | – |
-511,346
| Closed | -$10.9M |
|
74
Royal Gold
RGLD
$22.3B
| – | – |
-37,262
| Closed | -$9.48M |
|
|
75
SSR Mining
SSRM
$7.6B
| – | – |
-548,900
| Closed | -$16.1M |
|
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Thomist Capital Management's Q2 2026 Portfolio in Review
As of Q2 2026, Thomist Capital Management held 82 positions worth $315M, down 15% from $371M the previous quarter. Its ten largest holdings account for 61% of the portfolio.
Thomist Capital Management's Q2 2026 filing shows 25 new, 12 increased, 7 reduced and 38 closed positions. Its largest new stake was Darling Ingredients: 566,094 shares worth $30.9M. The largest sale was HF Sinclair, an estimated $31.2M.
By sector, the portfolio is most concentrated in Energy at 32% of assets, down from 34% a quarter earlier, followed by Materials and Miscellaneous.
- Thomist Capital Management's largest Q2 2026 buy was Darling Ingredients: 566,094 shares worth $30.9M.
- Thomist Capital Management added most to DHT Holdings in Q2 2026, an estimated $20.5M increase.
- Thomist Capital Management's biggest Q2 2026 reduction was HF Sinclair, cutting an estimated $31.2M.
- Thomist Capital Management fully exited Steel Dynamics in Q2 2026, selling an estimated $19M.
- Thomist Capital Management's ten largest holdings make up 61% of its $315M portfolio in Q2 2026.
- Thomist Capital Management opened 25 new positions and closed 38 in Q2 2026.
- Thomist Capital Management's portfolio value fell 15% quarter-over-quarter to $315M.
Based on Thomist Capital Management's 13F filing for Q2 2026, filed 14 Aug 2026.