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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
Cap. Flow
-$104M
Cap. Flow %
-41.09%
Top 10 Hldgs %
59.38%
Holding
71
New
21
Increased
9
Reduced
8
Closed
33

Top Buys

Rank Stock Value
1
SDRL icon
Seadrill
SDRL
+$28.2M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$20.2M
3
HBM icon
Hudbay
HBM
+$13.7M
4
DINO icon
HF Sinclair
DINO
+$9.61M
5
GPOR icon
Gulfport Energy Corp
GPOR
+$8.1M

Top Sells

Rank Stock Value
1
STLD icon
Steel Dynamics
STLD
+$31.8M
2
ASTL icon
Algoma Steel
ASTL
+$20.7M
3
CHRD icon
Chord Energy
CHRD
+$18.4M
4
PSX icon
Phillips 66
PSX
+$16.6M
5
HCC icon
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
DEC
51
Diversified Energy Company
DEC
$980M
– –
-32,700
Closed -$547K
EOG icon
52
EOG Resources
EOG
$70.7B
– –
-16,600
Closed -$2.02M
FANG icon
53
Diamondback Energy
FANG
$52.7B
– –
-12,200
Closed -$1.99M
GPRE icon
54
Green Plains
GPRE
$1.03B
– –
-126,033
Closed -$1.12M
HCC icon
55
CALL
Warrior Met Coal
HCC
$4.86B
– –
-588,900
Closed -$32.2M
HCC icon
56
Warrior Met Coal
HCC
$4.86B
– –
-220,682
Closed -$12M
HON icon
57
Honeywell
HON
$78B
– –
-13,899
Closed -$2.97M
HUN icon
58
Huntsman Corp
HUN
$1.77B
– –
-172,900
Closed -$3.04M
HUT
59
Hut 8
HUT
$10.9B
– –
-24,200
Closed -$502K
IPX
60
IperionX
IPX
$909M
– –
-939,088
Closed -$3.48M
IREN icon
61
Iris Energy
IREN
$14.7B
– –
-139,000
Closed -$1.38M
NBR icon
62
Nabors Industries
NBR
$1.21B
– –
-20,000
Closed -$1.08M
NUE icon
63
CALL
Nucor
NUE
$62.1B
– –
-146,100
Closed -$16.9M
PR
64
Permian Resources
PR
$16.9B
– –
-138,500
Closed -$2M
PSX icon
65
Phillips 66
PSX
$81.4B
– –
-148,500
Closed -$16.6M
PTEN icon
66
Patterson-UTI
PTEN
$3.76B
– –
-431,625
Closed -$3.5M
STLD icon
67
CALL
Steel Dynamics
STLD
$37.6B
– –
-139,600
Closed -$15.9M
VLO icon
68
Valero Energy
VLO
$85.9B
– –
-31,500
Closed -$3.77M
WFRD icon
69
Weatherford International
WFRD
$6.22B
– –
-27,800
Closed -$1.93M
XOP icon
70
State Street SPDR S&P Oil & Gas Exploration & Production ETF
XOP
$3.51B
– –
-37,464
Closed -$4.89M
NPKI
71
NPK International
NPKI
$1.14B
– –
-110,700
Closed -$825K
1 2
3

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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.