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
+18.9%
1 Year Est. Return
+77.62%
3 Year Est. Return
+71.6%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$506M
AUM Growth
+$237M
Cap. Flow
+$353M
Cap. Flow %
69.8%
Top 10 Hldgs %
56.43%
Holding
96
New
53
Increased
15
Reduced
7
Closed
20

Top Buys

Rank Stock Value
1
BG icon
Bunge Global
BG
+$21.4M
2
DAR icon
Darling Ingredients
DAR
+$19M
3
VLO icon
Valero Energy
VLO
+$17.1M
4
KRE icon
State Street SPDR S&P Regional Banking ETF
KRE
+$13.5M
5
DINO icon
HF Sinclair
DINO
+$11.5M

Top Sells

Rank Stock Value
1
CMC icon
Commercial Metals
CMC
+$15.3M
2
HBM icon
Hudbay
HBM
+$13.4M
3
DK icon
Delek US
DK
+$13.1M
4
METC icon
Ramaco Resources Class A
METC
+$11.1M
5
AA icon
Alcoa
AA
+$7.41M

Sector Composition

Rank Sector Weight
1 Energy 20.28%
2 Materials 18.97%
3 Consumer Staples 11.3%
4 Industrials 2.68%
5 Consumer Discretionary 2.49%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
EVLV icon
76
Evolv Technologies
EVLV
$1.1B
$137K 0.03%
+17,400
New +$127K
AA icon
77
CALL
Alcoa
AA
$13.2B
– –
-447,100
Closed -$13.4M
AA icon
78
Alcoa
AA
$13.2B
– –
-260,437
Closed -$7.41M
ASTL icon
79
CALL
Algoma Steel
ASTL
$431M
– –
-100,000
Closed -$535K
CLMT icon
80
CALL
Calumet Specialty Products
CLMT
$3.44B
– –
-200,000
Closed -$3.19M
DK icon
81
CALL
Delek US
DK
$3.58B
– –
-2,100,000
Closed -$47M
DK icon
82
Delek US
DK
$3.58B
– –
-615,907
Closed -$13.1M
HBM icon
83
Hudbay
HBM
$12.3B
– –
-1,268,513
Closed -$13.4M
IPX
84
IperionX
IPX
$909M
– –
-1,885,203
Closed -$5.84M
IREN icon
85
Iris Energy
IREN
$14.7B
– –
-67,000
Closed -$1.63M
LBRT icon
86
Liberty Energy
LBRT
$3.25B
– –
-210,700
Closed -$2.45M
METC icon
87
CALL
Ramaco Resources Class A
METC
$649M
– –
-735,100
Closed -$15M
METC icon
88
Ramaco Resources Class A
METC
$649M
– –
-905,747
Closed -$11.1M
MTDR icon
89
Matador Resources
MTDR
$6.09B
– –
-88,952
Closed -$4.29M
PARR icon
90
CALL
Par Pacific Holdings
PARR
$3.32B
– –
-704,300
Closed -$22.1M
PEJ icon
91
Invesco Leisure and Entertainment ETF
PEJ
$255M
– –
-24,600
Closed -$1.4M
RIOT icon
92
Riot Platforms
RIOT
$7.76B
– –
-82,200
Closed -$867K
RUN icon
93
CALL
Sunrun
RUN
$2.46B
– –
-20,000
Closed -$205K
SM icon
94
SM Energy
SM
$6.87B
– –
-37,100
Closed -$931K
TKR icon
95
Timken Company
TKR
$9.03B
– –
-41,800
Closed -$3.06M
VOO icon
96
Vanguard S&P 500 ETF
VOO
$1.01T
– –
-2,812
Closed -$1.59M
1 2 3
4

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 Q3 2025 Portfolio in Review

As of Q3 2025, Thomist Capital Management held 96 positions worth $506M, up 88% from $269M the previous quarter. Its ten largest holdings account for 56% of the portfolio.

Thomist Capital Management deployed $353M of net new capital in Q3 2025, opening 53 new positions and adding to 15 existing holdings. Its largest new stake was Bunge Global: 266,664 shares worth $22M.

By sector, the portfolio is most concentrated in Energy at 20% of assets, down from 23% a quarter earlier, followed by Materials and Consumer Staples.

On the sell side, the largest reduction was Commercial Metals, an estimated $15.3M trimmed.

  • Thomist Capital Management's largest Q3 2025 buy was Bunge Global: 266,664 shares worth $22M.
  • Thomist Capital Management added most to Darling Ingredients in Q3 2025, an estimated $19M increase.
  • Thomist Capital Management's biggest Q3 2025 reduction was Commercial Metals, cutting an estimated $15.3M.
  • Thomist Capital Management fully exited Hudbay in Q3 2025, selling an estimated $13.4M.
  • Thomist Capital Management's ten largest holdings make up 56% of its $506M portfolio in Q3 2025.
  • Thomist Capital Management opened 53 new positions and closed 20 in Q3 2025.
  • Thomist Capital Management's portfolio value rose 88% quarter-over-quarter to $506M.

Based on Thomist Capital Management's 13F filing for Q3 2025, filed 14 Nov 2025.