We are live on ! Find out more
TCM

Thomist Capital Management Portfolio holdings

AUM $371M
1-Year Est. Return 77.62%
This Fund
S&P 500
This Quarter Est. Return
+4.73%
1 Year Est. Return
+77.62%
3 Year Est. Return
+71.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$471M
AUM Growth
-$35.3M
Cap. Flow
-$163M
Cap. Flow %
-34.68%
Top 10 Hldgs %
53.06%
Holding
108
New
32
Increased
21
Reduced
12
Closed
43

Top Buys

Rank Stock Value
1
CNR
Core Natural Resources Inc
CNR
+$19.9M
2
MPC icon
Marathon Petroleum
MPC
+$18M
3
SDRL icon
Seadrill
SDRL
+$17.6M
4
SOC icon
Sable Offshore Corp
SOC
+$17.2M
5
AMPY icon
Amplify Energy
AMPY
+$15.7M

Top Sells

Rank Stock Value
1
BG icon
Bunge Global
BG
+$21.5M
2
VLO icon
Valero Energy
VLO
+$19.8M
3
GLD icon
SPDR Gold Trust
GLD
+$13.8M
4
RIO icon
Rio Tinto
RIO
+$11.5M
5
DAR icon
Darling Ingredients
DAR
+$10.4M

Sector Composition

Rank Sector Weight
1 Energy 40.68%
2 Materials 21.35%
3 Industrials 5.5%
4 Consumer Staples 3.43%
5 Consumer Discretionary 1.76%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
RGR icon
51
Sturm, Ruger & Co
RGR
$593M
$746K 0.16%
22,940
+13,940
+155% +$517K
HUT
52
Hut 8
HUT
$10.9B
$629K 0.13%
+13,600
New +$599K
CRWV
53
CoreWeave
CRWV
$49.5B
$547K 0.12%
+7,400
New +$750K
APLD icon
54
Applied Digital
APLD
$8.41B
$523K 0.11%
21,700
+7,700
+55% +$222K
ORCL icon
55
Oracle
ORCL
$423B
$513K 0.11%
+2,600
New +$619K
AAL icon
56
American Airlines Group
AAL
$10.6B
$483K 0.1%
+31,580
New +$426K
SKYW icon
57
Skywest
SKYW
$4.34B
$476K 0.1%
4,710
-835
-15% -$83.6K
SOC icon
58
CALL
Sable Offshore Corp
SOC
$911M
$451K 0.1%
50,000
-190,000
-79% -$1.79M
VIK icon
59
Viking Holdings
VIK
$47.2B
$412K 0.09%
+5,710
New +$364K
NCLH icon
60
Norwegian Cruise Line
NCLH
$8.84B
$332K 0.07%
14,809
+2,101
+17% +$44.4K
EVEX icon
61
Eve Holding
EVEX
$962M
$322K 0.07%
80,880
+32,284
+66% +$142K
PARR icon
62
Par Pacific Holdings
PARR
$3.32B
$299K 0.06%
8,423
-45,777
-84% -$1.82M
LIND icon
63
Lindblad Expeditions
LIND
$2.22B
$287K 0.06%
+19,800
New +$250K
EVLV icon
64
Evolv Technologies
EVLV
$1.1B
$241K 0.05%
34,090
+16,690
+96% +$119K
MTN icon
65
Vail Resorts
MTN
$5.3B
$226K 0.05%
+1,700
New +$250K
ADM icon
66
Archer Daniels Midland
ADM
$36.9B
– –
-127,300
Closed -$7.68M
AMPY icon
67
CALL
Amplify Energy
AMPY
$166M
– –
-1,500,000
Closed -$7.88M
AMZN icon
68
Amazon
AMZN
$2.96T
– –
-22,900
Closed -$5.09M
AR icon
69
Antero Resources
AR
$10.7B
– –
-64,900
Closed -$2.18M
ARIS
70
Aris Mining
ARIS
$3.59B
– –
-1,018,106
Closed -$10M
BG icon
71
CALL
Bunge Global
BG
$20.8B
– –
-100,000
Closed -$8.13M
BTU icon
72
Peabody Energy
BTU
$2.9B
– –
-247,600
Closed -$6.64M
CIFR icon
73
PUT
Cipher Digital
CIFR
$7.13B
– –
-100,000
Closed -$1.26M
CIVI
74
DELISTED
Civitas Resources
CIVI
– –
-61,300
Closed -$2.04M
CLF icon
75
CALL
Cleveland-Cliffs
CLF
$6.99B
– –
-500,300
Closed -$6.1M
1 2
3
4 5

Similar funds

PAA
Peregrine Asset Advisers Portland, Oregon $371M AUM 41.36% 1-Year Est. Return
KP
Kiltearn Partners Edinburgh, United Kingdom $372M AUM 18.16% 1-Year Est. Return
PC
Prevatt Capital Nassau, Bahamas $371M AUM 9.39% 1-Year Est. Return
SAAM
Solus Alternative Asset Management Summit, New Jersey $372M AUM 45.33% 1-Year Est. Return
OCMH
Oxbow Capital Management (HK) Hong Kong $371M AUM 383.45% 1-Year Est. Return
PC
Promethos Capital Boston, Massachusetts $372M AUM 23.19% 1-Year Est. Return
BOCH
Blue Owl Capital Holdings New York $372M AUM 78.25% 1-Year Est. Return
GIP
Gavilan Investment Partners Burlingame, California $372M AUM 6.04% 1-Year Est. Return

Thomist Capital Management's Q4 2025 Portfolio in Review

As of Q4 2025, Thomist Capital Management held 108 positions worth $471M, down 7% from $506M the previous quarter. Its ten largest holdings account for 53% of the portfolio.

Thomist Capital Management withdrew a net $163M in Q4 2025, closing 43 positions and reducing 12 holdings. Its most notable exit was Valero Energy, an estimated $19.8M position sold in full.

By sector, the portfolio is most concentrated in Energy at 41% of assets, up from 20% a quarter earlier, followed by Materials and Industrials.

Against the trend, Thomist Capital Management opened a new position in Core Natural Resources Inc worth $20.7M.

  • Thomist Capital Management's largest Q4 2025 buy was Core Natural Resources Inc: 234,000 shares worth $20.7M.
  • Thomist Capital Management added most to Seadrill in Q4 2025, an estimated $17.6M increase.
  • Thomist Capital Management's biggest Q4 2025 reduction was Bunge Global, cutting an estimated $21.5M.
  • Thomist Capital Management fully exited Valero Energy in Q4 2025, selling an estimated $19.8M.
  • Thomist Capital Management's ten largest holdings make up 53% of its $471M portfolio in Q4 2025.
  • Thomist Capital Management opened 32 new positions and closed 43 in Q4 2025.
  • Thomist Capital Management's portfolio value fell 7% quarter-over-quarter to $471M.

Based on Thomist Capital Management's 13F filing for Q4 2025, filed 13 Feb 2026.