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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
+22.17%
1 Year Est. Return
+77.62%
3 Year Est. Return
+71.6%
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
WGO icon
101
Winnebago Industries
WGO
$909M
– –
-46,700
Closed -$1.92M
XNTK icon
102
CALL
State Street SPDR NYSE Technology ETF
XNTK
$2.23B
– –
-348,900
Closed -$22.6M
SOC icon
103
CALL
Sable Offshore Corp
SOC
$911M
– –
-50,000
Closed -$451K
SOC icon
104
Sable Offshore Corp
SOC
$911M
– –
-1,818,181
Closed -$21.3M
VIK icon
105
Viking Holdings
VIK
$47.2B
– –
-5,710
Closed -$412K
CRWV
106
CoreWeave
CRWV
$49.5B
– –
-7,400
Closed -$547K
1 2 3 4
5

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PC
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SAAM
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OCMH
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BOCH
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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.