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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
-7.37%
1 Year Est. Return
+50.03%
3 Year Est. Return
+71.17%
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$254M
AUM Growth
-$131M
(-34%)
Cap. Flow
-$50.6M
Cap. Flow
% of AUM
-19.96%
Top 10 Holdings %
Top 10 Hldgs %
59.38%
Holding
71
New
21
Increased
9
Reduced
8
Closed
33
Top Buys
| Rank | Stock | Value |
|---|---|---|
| 1 |
Seadrill
SDRL
|
+$28.2M |
| 2 |
State Street SPDR S&P 500 ETF Trust
SPY
|
+$20.2M |
| 3 |
Hudbay
HBM
|
+$13.7M |
| 4 |
HF Sinclair
DINO
|
+$9.61M |
| 5 |
Gulfport Energy Corp
GPOR
|
+$8.1M |
Top Sells
| Rank | Stock | Value |
|---|---|---|
| 1 |
Steel Dynamics
STLD
|
+$31.8M |
| 2 |
Algoma Steel
ASTL
|
+$20.7M |
| 3 |
Chord Energy
CHRD
|
+$18.4M |
| 4 |
Phillips 66
PSX
|
+$16.6M |
| 5 |
Warrior Met Coal
HCC
|
+$12M |
Sector Composition
| Rank | Sector | Weight |
|---|---|---|
| 1 | Energy | 41.27% |
| 2 | Materials | 27.11% |
| 3 | Miscellaneous | 21.51% |
| 4 | Consumer Staples | 10.11% |
| 5 | Financials | 0% |
| Name | Market Value | Portfolio Weight | Shares or Principal |
Change in Stake | Capital Flow | |
|---|---|---|---|---|---|---|
|
1
Seadrill
SDRL
$3.02B
| $40.7M | 16.03% |
1,611,825
+911,377
| +130% | +$28.2M |
|
|
2
State Street SPDR S&P 500 ETF Trust
SPY
$810B
| $19.1M | 7.53% |
+34,400
| New | +$20.2M |
|
|
3
HF Sinclair
DINO
$19.3B
| $18.1M | 7.15% |
548,434
+274,276
| +100% | +$9.61M |
|
4
Sable Offshore Corp
SOC
$931M
| $15.3M | 6.04% |
591,500
+291,500
| +97% | +$7.46M |
|
|
5
Hudbay
HBM
$12.9B
| $13M | 5.11% |
+1,684,700
| New | +$13.7M |
|
|
6
CALL
Sable Offshore Corp
SOC
$931M
| $9.85M | 3.88% |
+500,000
| New | +$12.8M |
|
7
SPDR Gold Trust
GLD
$148B
| $9.36M | 3.69% |
32,940
+6,566
| +25% | +$1.74M |
|
8
Darling Ingredients
DAR
$10.6B
| $9.17M | 3.61% |
290,600
-229,754
| -44% | -$8.04M |
|
|
9
Gulfport Energy Corp
GPOR
$3.18B
| $8.16M | 3.22% |
+44,566
| New | +$8.1M |
|
10
Corteva
CTVA
$57.3B
| $7.92M | 3.12% |
+129,700
| New | +$8.02M |
|
11
Nucor
NUE
$58.2B
| $7.75M | 3.05% |
63,518
-80,182
| -56% | -$10.3M |
|
12
FerroAtlántica
GSM
$845M
| $7.28M | 2.87% |
1,999,768
-483,127
| -19% | -$1.86M |
|
13
Archer Daniels Midland
ADM
$40.7B
| $7.24M | 2.85% |
151,300
-63,890
| -30% | -$3.09M |
|
|
14
Steel Dynamics
STLD
$34.4B
| $6.8M | 2.68% |
54,818
-250,882
| -82% | -$31.8M |
|
15
Crescent Energy
CRGY
$4.69B
| $6.45M | 2.54% |
+579,150
| New | +$7.98M |
|
|
CNR
16
Core Natural Resources Inc
CNR
$4.97B
| $6.44M | 2.54% |
83,500
+36,159
| +76% | +$3.05M |
|
17
Marathon Petroleum
MPC
$112B
| $6.34M | 2.5% |
+44,000
| New | +$6.51M |
|
|
X
18
DELISTED
US Steel
X
| $6.13M | 2.42% |
142,600
+6,200
| +5% | +$235K |
|
19
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.4B
| $5.82M | 2.29% |
+14,000
| New | +$6.05M |
|
20
Bunge Global
BG
$23.8B
| $5.15M | 2.03% |
+67,400
| New | +$5.04M |
|
21
Sigma Lithium
SGML
$1.17B
| $5.11M | 2.01% |
443,980
+373,980
| +534% | +$4.29M |
|
22
LyondellBasell Industries
LYB
$20.9B
| $4.87M | 1.92% |
+69,700
| New | +$5.24M |
|
23
Westlake Corp
WLK
$9.55B
| $4.57M | 1.8% |
+46,100
| New | +$5.11M |
|
|
24
Algoma Steel
ASTL
$465M
| $4.21M | 1.66% |
737,877
-2,759,654
| -79% | -$20.7M |
|
25
iShares Silver Trust
SLV
$32B
| $3.3M | 1.3% |
106,590
-5,610
| -5% | -$163K |
|
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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 $50.6M 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 Miscellaneous.
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.