TC

Thomist Capital Management, LP

Diversified strategyHigh-turnover traderSector-focused

Total reported value

$371.5M

Reporting period: 2026-03-31 · Number of holdings: 57

Thomist Capital Management, LP disclosed 57 holdings in its latest 13F filing for the period ending 2026-03-31, with total reported value of $371.5M and a quarterly turnover rate of 159.9%.

Personality snowflake

Concentration
16.36
Portfolio Stability
100
Momentum/Contrarian
0
Sector conviction
100
Diversification
100
Sizing Uniformity
88.36

Recent moves

  • Add DINO

    +83.7%　$21.1M

  • Trim AMPY

    -95.8%　-$13.8M

  • Add LUV

    +180.0%　$6.6M

  • Trim OLN

    -73.5%　-$6.6M

  • Trim AMD

    -88.3%　-$5.7M

  • Sold out SDRL

Holdings Map

New buyAddUnchangedTrim

Top 10 holdings by weight

Full holdings list this quarter

#TickerIssuerAsset SubclassWeightWeight ChangeShares Change4Q Trend
1DINOHf Sinclair CORPStock-Energy9.51%+6.48%+83.75%
2✓ Darling Ingredients INCStock-Other7.49%+7.49%NEW
3CNRCore Natural Resources INCStock-Energy6.34%—-3.93%
4ARISAris Mining CORPStock-Other5.74%+5.74%NEW
5✓ Cf Inds Hldgs INCStock-Other5.24%+5.24%NEW
6STLDSteel Dynamics INCStock-Materials5.10%+5.10%NEW
7DKDelek US Holdings INCStock-Other4.52%+4.52%NEW
8SSRMSsr Mining INCStock-Materials4.34%+4.34%NEW
9EQXEquinox Gold CORPStock-Other3.47%+3.47%NEW
10VLRSControladora Vuela Cia-adrStock-Other3.00%—+52.44%
11PRPermian Resources Corp-cl AStock-Energy2.93%+2.93%NEW
12LUVSouthwest Airlines CoStock-Industrials2.91%+2.01%+179.99%
13VOOVanguard S&p 500 ETFETF-Large Cap & Growth2.73%+2.73%NEW
14RGLDRoyal Gold INCStock-Materials2.55%+2.55%NEW
15FCXFreeport-McMoRan Inc.Stock-Materials2.37%+2.37%NEW
16WLKWestlake CORPStock-Materials2.30%—-34.76%
17BTEBaytex Energy CORPStock-Other2.27%—-36.75%
18BTUPeabody Energy CORPStock-Energy2.05%+2.05%NEW
19✓ Bunge Global SAStock-Other1.75%+1.75%NEW
20EMNEastman Chemical CoStock-Materials1.74%+1.74%NEW
21✓ Rice Acquisition CORP 3Stock-Other1.44%—+1.27%
22STNGScorpio Tankers Inc.Stock-Other1.24%+1.24%NEW
23✓ Ferroglobe PLCStock-Other1.20%—-25.28%
24DHTDHT Holdings, Inc.Stock-Other1.19%+1.19%NEW
25✓ Hf Sinclair CORPStock-Other1.18%+1.18%NEW
26OLNOlin CORPStock-Materials1.07%-1.18%-73.51%
27PIIPolaris INCStock-Consumer Disc1.01%—+174.61%
28RYAAYRyanair Holdings Plc-sp AdrStock-Industrials0.86%+0.86%NEW
29CWHCamping World Holdings Inc-aStock-Other0.84%—+178.86%
30DOOBrp Inc/ca- Sub VotingStock-Other0.77%+0.77%NEW
31HOGHarley-davidson INCStock-Consumer Disc0.77%——
32PARRPar Pacific Holdings INCStock-Energy0.75%—+431.28%
33ECOOkeanis Eco Tankers Corp.Stock-Other0.75%——
34SMHCVanEck China Semiconductor ETFETF-Emerging Markets0.74%——
35✓ Futurefuel CORPStock-Other0.73%——
36KOSKosmos Energy LTDStock-Other0.69%——
37ODVOsisko Development CORPStock-Other0.69%——
38LNGCheniere Energy INCStock-Energy0.62%——
39✓ Delek US Hldgs INC NewStock-Other0.61%——
40NATNordic American Tankers LimitedStock-Other0.53%——
41NVDANvidia CORPStock-Tech0.38%——
42HUTHut 8 CORPStock-Financials0.37%—+117.46%
43SLSRSolaris Resources INCStock-Other0.36%——
44RNGRRanger Energy Services-cl AStock-Other0.34%——
45✓ B2gold CORPStock-Other0.30%——
46ALKAlaska Air Group INCStock-Industrials0.28%——
47✓ Mp Materials CORPStock-Other0.26%——
48XPROExpro Group Holdings N.V.Stock-Other0.26%——
49✓ Jetblue Awys CORPStock-Other0.23%——
50RIOTRiot Platforms INCStock-Financials0.22%——
1–50 of 57

Holding changes this quarter

Thomist Capital Management, LP's most significant position changes for 2026-03-31: Sold out: Seadrill Limited (SDRL); Sold out: State Street SPDR S&P 500 ETF Trust (SPY); Sold out: Oracle Corporation (ORCL); New buy: Darling Ingredients INC; Sold out: Spdr Ser Tr.

Position changes disclosed by Thomist Capital Management, LP for the quarter ending 2026-03-31, including ticker, issuer, weight change, shares change, and action
#TickerIssuerWeight ChangeShares ChangeAction
1DINOHf Sinclair CORP+6.5%+83.75%Add
2LUVSouthwest Airlines Co+2%+179.99%Add
3AMDAdvanced Micro Devices, Inc.-1.2%-88.33%Trim
4OLNOlin CORP-1.2%-73.51%Trim
5AMPYAmplify Energy CORP-2.9%-95.84%Trim
6SDRLSeadrill Limited—EXITSold out
7SPYState Street SPDR S&P 500 ETF Trust—EXITSold out
8ORCLOracle Corporation—EXITSold out
9✓ Darling Ingredients INC—NEWNew buy
10✓ Spdr Ser Tr—EXITSold out
11SOCSable Offshore CORP—EXITSold out
12ARISAris Mining CORP—NEWNew buy
13✓ Cf Inds Hldgs INC—NEWNew buy
14STLDSteel Dynamics INC—NEWNew buy
15DKDelek US Holdings INC—NEWNew buy
16SSRMSsr Mining INC—NEWNew buy
17MPCMarathon Petroleum CORP—EXITSold out
18BBarrick Mining CORP—EXITSold out
19NUENucor CORP—EXITSold out
20DARDarling Ingredients INC—EXITSold out
21EQXEquinox Gold CORP—NEWNew buy
22HBMHudbay Minerals INC—EXITSold out
23PRPermian Resources Corp-cl A—NEWNew buy
24LINLinde plc—EXITSold out
25SMSm Energy Co—EXITSold out
26VOOVanguard S&p 500 ETF—NEWNew buy
27RGLDRoyal Gold INC—NEWNew buy
28IBITiShares Bitcoin Trust ETF—EXITSold out
29FCXFreeport-McMoRan Inc.—NEWNew buy
30IAGIamgold CORP—EXITSold out
31SNCYSun Country Airlines Holding—EXITSold out
32BTUPeabody Energy CORP—NEWNew buy
33GPREGreen Plains INC—EXITSold out
34✓ Bunge Global SA—NEWNew buy
35EMNEastman Chemical Co—NEWNew buy
36PSXPhillips 66—EXITSold out
37CVICvr Energy INC—EXITSold out
38GLDSpdr Gold Shares—EXITSold out
39STNGScorpio Tankers Inc.—NEWNew buy
40DHTDHT Holdings, Inc.—NEWNew buy
41✓ Hf Sinclair CORP—NEWNew buy
42KRESs Spdr S&p Regional Bank—EXITSold out
43CENXCentury Aluminum Company—EXITSold out
44AESIAtlas Energy Solutions INC—EXITSold out
45VTWOVanguard Russell 2000 ETF—EXITSold out
46✓ Atlas Energy Solutions INC—EXITSold out
47RYAAYRyanair Holdings Plc-sp Adr—NEWNew buy
48BGBunge Global SA—EXITSold out
49CCChemours Co/the—EXITSold out
50DOOBrp Inc/ca- Sub Voting—NEWNew buy

FAQ

What is Thomist Capital Management, LP and what type of investor is it?
Thomist Capital Management, LP is a investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2026-03-31), the firm manages a tracked equity portfolio valued at approximately $371.5M, spread across 57 disclosed positions.
What are Thomist Capital Management, LP's largest equity positions?
Based on the latest 13F filing, Thomist Capital Management, LP's top holdings by market value are: 1. Hf Sinclair CORP (DINO) — $35.3M (9.5%) 2. Darling Ingredients INC — $27.8M (7.5%) 3. Core Natural Resources INC (CNR) — $23.5M (6.3%) 4. Aris Mining CORP (ARIS) — $21.3M (5.7%) 5. Cf Inds Hldgs INC — $19.5M (5.2%)
What changes did Thomist Capital Management, LP make in its most recent portfolio filing?
In the latest reported quarter, Thomist Capital Management, LP made 50 notable position adjustments: 19 new positions were initiated, 2 existing holdings were added to, 3 positions were partially reduced, and 26 were completely exited. The largest of these moves: Sold out: Seadrill Limited (SDRL); Sold out: State Street SPDR S&P 500 ETF Trust (SPY); Sold out: Oracle Corporation (ORCL); New buy: Darling Ingredients INC; Sold out: Spdr Ser Tr
What sectors does Thomist Capital Management, LP focus on?
Thomist Capital Management, LP is concentrated in the following sectors based on its current disclosed equity portfolio: • Energy: 45.6% • Materials: 40.0% • Industrials: 8.3% • Consumer Discretionary: 3.6% • Financials: 1.2% • Information Technology: 1.2%