Thomist Capital Management, LP
Houston, TX
$271m in 39 US stocks at the end of 30 June 2026. The top 10 are 69.1% of the money. It changed about 60.7% of the portfolio this quarter.
Value
$271m
Stocks
39
Top 10 share
69.1%
Turnover
60.7%
What changed this quarter
New
Bought for the first time this quarter.
- Darling IngredientsDAR11.4% of the fund
- Green PlainsGPRE7.2% of the fund
- Hudbay MineralsHBM6.4% of the fund
- FrontlineFRO4.7% of the fund
- IamgoldIAG2.4% of the fund
- PPG IndustriesPPG2.0% of the fund
- United Airlines HoldingsUAL1.9% of the fund
- Trekor MetalsTGB1.5% of the fund
- Matador ResourcesMTDR1.5% of the fund
- American Airlines GroupAAL1.3% of the fund
- HMH HoldingHMH1.1% of the fund
- ChemoursCC1.1% of the fund
- CVR EnergyCVI0.9% of the fund
- EagleRock LandEROK0.5% of the fund
- Micron TechnologyMU0.4% of the fund
- Greenland EnergyGLND0.2% of the fund
- Cerebras SystemsCBRS0.2% of the fund
- Keel InfrastructureKEEL0.2% of the fund
- Bitdeer Technologies GroupBTDR0.2% of the fund
- Greenland EnergyGLNDW<0.1% of the fund
- Sable OffshoreSOC<0.1% of the fund
Added
Bought more of a stock they already held.
- Aris MiningARIS9.6% of the fund+53%
- DHT HoldingsDHT8.5% of the fund+475%
- Core Natural ResourcesCNR7.9% of the fund+19%
- Controladora Vuela Comp de AVLRS6.1% of the fund+14%
- Peabody EnergyBTU3.6% of the fund+82%
- WestlakeWLK2.6% of the fund+32%
- Okeanis Eco TankersECO2.5% of the fund+143%
- Rice Acquisition Corp 3KRSP-U2.1% of the fund+5%
- PAR Pacific HoldingsPARR1.4% of the fund+48%
- Ranger Energy ServicesRNGR0.7% of the fund+54%
- Solaris ResourcesSLSR0.4% of the fund+18%
Cut
Sold some of their stake.
- Delek US HoldingsDK3.8% of the fund-46%
- HF SinclairDINO2.5% of the fund-83%
- FerroglobeGSM1.1% of the fund-15%
- Hut 8HUT0.9% of the fund-28%
- Ryanair HoldingsRYAAY0.8% of the fund-37%
- Riot PlatformsRIOT0.4% of the fund-46%
- FutureFuelFF0.1% of the fund-21%
Sold out
Sold their entire stake.
- Steel DynamicsSTLD-100%
- SSR MiningSSRM-100%
- Equinox GoldEQX-100%
- Permian ResourcesPR-100%
- Southwest AirlinesLUV-100%
- Vanguard Index FDSVOO-100%
- Royal GoldRGLD-100%
- Baytex EnergyBTE-100%
- Eastman ChemicalEMN-100%
- Scorpio TankersSTNG-100%
- OlinOLN-100%
- PolarisPII-100%
- Camping World HoldingsCWH-100%
- BRPDOO-100%
- Harley-DavidsonHOG-100%
- Kosmos EnergyKOS-100%
- Osisko Development-100%
- Cheniere EnergyLNG-100%
- Nordic American TankersNAT-100%
- NvidiaNVDA-100%
- Alaska Air GroupALK-100%
- ExproXPRO-100%
- Amplify EnergyAMPY-100%
- IrenIREN-100%
- Infinity Natural ResourcesINR-100%
Holdings
- Aris MiningARIS
- Share
- 9.6%
- Value
- $26m
- Shares
- 1,751,221
+53%
- Hudbay MineralsHBM
- Share
- 6.4%
- Value
- $17m
- Shares
- 734,227
New
- Controladora Vuela Comp de AVLRS
- Share
- 6.1%
- Value
- $16m
- Shares
- 1,754,714
+14%
- IamgoldIAG
- Share
- 2.4%
- Value
- $6m
- Shares
- 404,362
New
- Rice Acquisition Corp 3KRSP-U
- Share
- 2.1%
- Value
- $6m
- Shares
- 531,645
+5%
- Trekor MetalsTGB
- Share
- 1.5%
- Value
- $4m
- Shares
- 608,925
New
- HMH HoldingHMH
- Share
- 1.1%
- Value
- $3m
- Shares
- 158,161
New
- Ryanair HoldingsRYAAY
- Share
- 0.8%
- Value
- $2m
- Shares
- 34,370
-37%
- EagleRock LandEROK
- Share
- 0.5%
- Value
- $1m
- Shares
- 70,000
New
- Solaris ResourcesSLSR
- Share
- 0.4%
- Value
- $983,701
- Shares
- 182,360
+18%
- Greenland EnergyGLND
- Share
- 0.2%
- Value
- $608,300
- Shares
- 276,500
New
- Cerebras SystemsCBRS
- Share
- 0.2%
- Value
- $596,700
- Shares
- 2,700
New
- Greenland EnergyGLNDW
- Share
- <0.1%
- Value
- $225,250
- Shares
- 265,000
New
| Company | Share of fund | Value | Shares | Change |
|---|---|---|---|---|
| Darling IngredientsDAR | 11.4% | $31m | 566,094 | New |
| Aris MiningARIS | 9.6% | $26m | 1,751,221 | +53% |
| DHT HoldingsDHT | 8.5% | $23m | 1,389,095 | +475% |
| Core Natural ResourcesCNR | 7.9% | $21m | 266,532 | +19% |
| Green PlainsGPRE | 7.2% | $20m | 1,270,612 | New |
| Hudbay MineralsHBM | 6.4% | $17m | 734,227 | New |
| Controladora Vuela Comp de AVLRS | 6.1% | $16m | 1,754,714 | +14% |
| FrontlineFRO | 4.7% | $13m | 369,740 | New |
| Delek US HoldingsDK | 3.8% | $10m | 202,300 | -46% |
| Peabody EnergyBTU | 3.6% | $10m | 422,432 | +82% |
| WestlakeWLK | 2.6% | $7m | 96,200 | +32% |
| HF SinclairDINO | 2.5% | $7m | 97,063 | -83% |
| Okeanis Eco TankersECO | 2.5% | $7m | 133,922 | +143% |
| IamgoldIAG | 2.4% | $6m | 404,362 | New |
| Rice Acquisition Corp 3KRSP-U | 2.1% | $6m | 531,645 | +5% |
| PPG IndustriesPPG | 2.0% | $5m | 45,100 | New |
| United Airlines HoldingsUAL | 1.9% | $5m | 36,990 | New |
| Trekor MetalsTGB | 1.5% | $4m | 608,925 | New |
| Matador ResourcesMTDR | 1.5% | $4m | 80,200 | New |
| PAR Pacific HoldingsPARR | 1.4% | $4m | 66,060 | +48% |
| American Airlines GroupAAL | 1.3% | $4m | 195,020 | New |
| HMH HoldingHMH | 1.1% | $3m | 158,161 | New |
| FerroglobeGSM | 1.1% | $3m | 922,217 | -15% |
| ChemoursCC | 1.1% | $3m | 142,900 | New |
| CVR EnergyCVI | 0.9% | $3m | 93,326 | New |
| Hut 8HUT | 0.9% | $2m | 21,185 | -28% |
| Ryanair HoldingsRYAAY | 0.8% | $2m | 34,370 | -37% |
| Ranger Energy ServicesRNGR | 0.7% | $2m | 113,460 | +54% |
| EagleRock LandEROK | 0.5% | $1m | 70,000 | New |
| Riot PlatformsRIOT | 0.4% | $1m | 36,600 | -46% |
| Solaris ResourcesSLSR | 0.4% | $983,701 | 182,360 | +18% |
| Micron TechnologyMU | 0.4% | $958,061 | 830 | New |
| Greenland EnergyGLND | 0.2% | $608,300 | 276,500 | New |
| Cerebras SystemsCBRS | 0.2% | $596,700 | 2,700 | New |
| Keel InfrastructureKEEL | 0.2% | $475,272 | 82,800 | New |
| Bitdeer Technologies GroupBTDR | 0.2% | $455,469 | 28,700 | New |
| FutureFuelFF | 0.1% | $337,766 | 74,727 | -21% |
| Greenland EnergyGLNDW | <0.1% | $225,250 | 265,000 | New |
| Sable OffshoreSOC | <0.1% | $184,166 | 59,794 | New |
Options (6)
- Pilgrims Pride
- Type
- Call
- Value
- $14m
- Contracts
- 500,000
- Mosaic
- Type
- Call
- Value
- $11m
- Contracts
- 500,000
- Ishares TR
- Type
- Put
- Value
- $11m
- Contracts
- 35,000
- Vaneck ETF Trust
- Type
- Call
- Value
- $7m
- Contracts
- 70,000
- Cerebras Systems
- Type
- Call
- Value
- $663,000
- Contracts
- 3,000
- Ishares TR
- Type
- Put
- Value
- $640,760
- Contracts
- 1,000
| Company | Type | Value | Contracts |
|---|---|---|---|
| Pilgrims Pride | Call | $14m | 500,000 |
| Mosaic | Call | $11m | 500,000 |
| Ishares TR | Put | $11m | 35,000 |
| Vaneck ETF Trust | Call | $7m | 70,000 |
| Cerebras Systems | Call | $663,000 | 3,000 |
| Ishares TR | Put | $640,760 | 1,000 |
Over time and by industry
Value over time
Jun '25
Dec '25
Jun '26
Value is up 63.6% since 30 June 2025.
Where the money is
Materials34.4%
Energy22.5%
Industrials20.8%
Everyday goods11.4%
Financial services2.2%
Technology0.6%
Other8.2%
From the fund's 13F filings. They list US stocks and options only, 45 days after each quarter, and leave out cash, bonds, shorts and foreign shares.