THOMIST CAPITAL MANAGEMENT, LP
Sector Allocation
- Materials33.3%$90.3M
- Industrials26.8%$72.7M
- Energy22.6%$61.2M
- Consumer Staples11.4%$30.9M
- Financials4.3%$11.6M
- Healthcare1.1%$2.9M
- Technology0.6%$1.6M
AUM History
13fpro.ai/research/fund/thomist-capital-management-lp-1767809
Conviction and streaks
Concentrating · top 10 = 69.1%From the fund's last 12 quarters of 13F filings: positions held longest at size, and names it added to or trimmed several quarters running.
Largest positions — Q2 2026
DAR
$30.9MARIS
$26.1MDHT
$23.0MCNR
$21.3MGPRE
$19.5MHBM
$17.3MVLRS
$16.4MFRO
$12.9MDK
$10.3MBTU
$9.8MWLK
$7.0MDINO
$6.8MECO
$6.7MIAG
$6.4MKRSP
$5.7MPPG
$5.5MUAL
$5.0MTGB
$4.2MMTDR
$4.0MPARR
$3.7M
Top 20 stock positions. Options are left out: 13F reports them at the underlying's value.
13fpro.ai/research/fund/thomist-capital-management-lp-1767809
THOMIST CAPITAL MANAGEMENT, LP 13F holdings — Q2 2026
$314.6M portfolio (-15.3% QoQ) · 45 holdings · Q2 2026 13F · top 10 are 69% of the stock portfolio
Includes $43.3M of put/call options ($11.2M puts, $32.2M calls), which 13F rules report at the value of the underlying shares, not the premium at risk. Stocks alone: $271.2M. Weights use the stock portfolio.
$30.9M
11.4% of stocks
NewThis quarter-14.7%Since filedNew this quarterHeld$26.1M
9.6% of stocks
+53%This quarter-13.0%Since filed2 qtrsHeld$23.0M
8.5% of stocks
+475%This quarter+26.0%Since filed2 qtrsHeld$21.3M
7.9% of stocks
+19%This quarter-7.8%Since filed3 qtrsHeld$19.5M
7.2% of stocks
NewThis quarter-9.9%Since filedNew this quarterHeld$17.3M
6.4% of stocks
NewThis quarter-17.0%Since filedNew this quarterHeld$16.4M
6.1% of stocks
+14%This quarter-28.7%Since filed4 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 4 qtrs in a row$12.9M
4.7% of stocks
NewThis quarter+34.0%Since filedNew this quarterHeld$10.3M
3.8% of stocks
-46%This quarter+19.9%Since filed2 qtrsHeld$9.8M
3.6% of stocks
+82%This quarter-12.2%Since filed2 qtrsHeldAIQualityAI quality score is Pro: unlock with a free trialEst. buyEstimated buy price is Pro: unlock with a free trialAdded 2 qtrs in a row
All holdings — THOMIST CAPITAL MANAGEMENT, LP (Q2 2026)
45 disclosed positions from the Form 13F-HR on SEC EDGAR, with quarter-over-quarter share changes. Largest by value first; the ten above are not repeated.
| # | Company | Held | Source | |||||||
|---|---|---|---|---|---|---|---|---|---|---|
| 11 | PILGRIMS PRIDE CORP | Consumer Staples | $14.1M | — | 500K | New | — | — | 13F | |
| 12 | MOSAIC CO | Materials | $10.6M | — | 500K | New | — | — | 13F | |
| 13 | — PUT | ISHARES TR - PUT | — | $10.5M | — | 35K | New | — | — | 13F |
| 14 | WESTLAKE CORP | Materials | $7.0M | 2.6% | 96K | +32% | 6 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 15 | — CALL | VANECK ETF TRUST - CALL | — | $6.9M | — | 70K | New | — | — | 13F |
| 16 | HF Sinclair Corp | Energy | $6.8M | 2.5% | 97K | -83% | 8 qtrs | AI quality score is Pro: unlock with a free trial | 13F | |
| 17 | Okeanis Eco Tankers Corp. | Industrials | $6.7M | 2.5% | 134K | +143% | 2 qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 18 | IAMGOLD CORP | Materials | $6.4M | 2.4% | 404K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 19 | Rice Acquisition Corp 3lp unit | Financials | $5.7M | 2.1% | 532K | +5% | 3 qtrsAdded 3 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 20 | PPG INDUSTRIES INC | Materials | $5.5M | 2.0% | 45K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 21 | United Airlines Holdings, Inc. | Industrials | $5.0M | 1.9% | 37K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 22 | Trekor Metals Ltd | Materials | $4.2M | 1.5% | 609K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 23 | Matador Resources Co | Energy | $4.0M | 1.5% | 80K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 24 | PAR PACIFIC HOLDINGS, INC. | Energy | $3.7M | 1.4% | 66K | +48% | 10+ qtrsAdded 2 qtrs in a row | AI quality score is Pro: unlock with a free trial | 13F | |
| 25 | American Airlines Group Inc. | Industrials | $3.5M | 1.3% | 195K | New | 1 qtr | AI quality score is Pro: unlock with a free trial | 13F | |
| 26 | $HMH | HMH Holding Inc | Industrials | $3.0M | 1.1% | 158K | New | |||
| 27 | $GSM | Ferroglobe PLC | Materials | $2.9M | 1.1% | 922K | -15% | |||
| 28 | $CC | Chemours Co | Healthcare | $2.9M | 1.1% | 143K | New | |||
| 29 | $CVI | CVR ENERGY INC | Energy | $2.6M | 0.9% | 93K | New | |||
| 30 | $HUT | Hut 8 Corp. | Financials | $2.4M | 0.9% | 21K | -28% | |||
| 31 | $RYAAY | RYANAIR HOLDINGS PLC | Industrials | $2.2M | 0.8% | 34K | -37% | |||
| 32 | $RNGR | Ranger Energy Services, Inc. | Energy | $1.8M | 0.7% | 113K | +54% | |||
| 33 | $EROK | EagleRock Land, LLC | Financials | $1.5M | 0.6% | 70K | New | |||
| 34 | $RIOT | Riot Platforms, Inc. | Financials | $1.0M | 0.4% | 37K | -46% | |||
| 35 | $SLSR | Solaris Resources Inc. | Materials | $984K | 0.4% | 182K | +18% | |||
| 36 | $MU | MICRON TECHNOLOGY INC | Technology | $958K | 0.3% | 830 | New | |||
| 37 | $CBRS CALL | Cerebras Systems Inc. | Technology | $663K | — | 3,000 | New | |||
| 38 | — PUT | ISHARES TR - PUT | — | $641K | — | 1,000 | New | |||
| 39 | $GLND | Greenland Energy Co | Energy | $608K | 0.2% | 277K | New | |||
| 40 | $CBRS | Cerebras Systems Inc. | Technology | $597K | 0.2% | 2,700 | New | |||
| 41 | $KEEL | Keel Infrastructure Corp. | Financials | $475K | 0.2% | 83K | New | |||
| 42 | $BTDR | Bitdeer Technologies Group | Financials | $455K | 0.2% | 29K | New | |||
| 43 | $FF | FutureFuel Corp. | Materials | $338K | 0.1% | 75K | -21% | |||
| 44 | $GLND | Greenland Energy Co | Energy | $225K | 0.1% | 265K | New | |||
| 45 | $SOC | Sable Offshore Corp. | Energy | $184K | 0.1% | 60K | New |
What changed in Q2 2026
Against the previous quarter's 13F: 27 new, 11 added to, 7 trimmed, 39 sold out. Share-count changes; largest moves by dollar size first.
New positions (27)
first bought this quarter
first bought this quarter
first bought this quarter
$PPCCALLPILGRIMS PRIDE CORP$14.1M
first bought this quarter
first bought this quarter
$MOSCALLMOSAIC CO$10.6M
first bought this quarter
+21 more in the Excel export
Added to (11)
now $23.0M · held 2 qtrs, 2 adds in a row
now $26.1M · held 2 qtrs, 2 adds in a row
now $9.8M · held 2 qtrs, 2 adds in a row
now $6.7M · held 2 qtrs, 2 adds in a row
now $21.3M · held 3 qtrs
now $16.4M · held 4 qtrs, 4 adds in a row
+5 more in the Excel export
Trimmed (7)
now $6.8M · held 8 qtrs
now $10.3M · held 2 qtrs
$RYAAYRYANAIR HOLDINGS PLC-37%
now $2.2M · held 2 qtrs
$HUTHut 8 Corp.-28%
now $2.4M · held 3 qtrs
$RIOTRiot Platforms, Inc.-46%
now $1.0M · held 2 qtrs
$GSMFerroglobe PLC-15%
now $2.9M · held 10+ qtrs, 3 trims in a row
+1 more in the Excel export
Holdings by quarter
Every 13F THOMIST CAPITAL MANAGEMENT, LP has filed, 18 earlier quarters. Pick one to see what it held then.
Is it too late to follow THOMIST CAPITAL MANAGEMENT?
Q2 2026 13F filed with the SEC on Aug 14, 2026. Prices are closing prices as of Oct 26, 2026.
Average quality of THOMIST CAPITAL MANAGEMENT's top 20 holdings: 58/100 (our AI quality score, weighted by position size; 13 of the 20 are scored)
Top 10 since filing
-4.3%
Value-weighted move of the 10 largest stock positions
Turnover
60%
Last quarter; 216% over the last 4
Top 10 weight
69%
Share of the stock portfolio in its 10 largest positions
Held 4+ quarters
14%
Share of portfolio value in positions held a year or more
Highest-quality names it owns(among its 100 largest positions)
The 8 highest-scoring companies in this portfolio are a Pro feature.
How these are measured
- Moves since the quarter-end and since the filing date use our own daily closing prices, from the close on (or just before) each date to the latest close.
- Turnover is the lesser of shares bought or sold in a quarter, valued at the quarter-end prices in the 13F, divided by the average of the two quarters' stock portfolio values.
- Quarters held and add/trim streaks count back only through quarters whose filed holdings add up to the filing's own cover-page total (back to Q1 2024 for this fund). A change counts as an add or a trim when the split-adjusted share count moves by more than 1%.
- Estimate, not the fund's reported cost. For each quarter in the current holding period in which the fund's share count rose (split-adjusted), we take that quarter's average daily close and weight it by the shares added; sales do not change an average cost. Quarters where the stock's price history and the 13F's own implied price disagree by more than 2x are left out.
- Put and call option rows report the value of the underlying shares, not a position the fund paid for, so they are left out of all of the above.
Portfolio Overview
THOMIST CAPITAL MANAGEMENT, LP disclosed 45 positions worth $314.6M in its Form 13F-HR for Q2 2026 — $271.2M in common stock plus $43.3M of put/call option positions (reported at underlying notional value, not premium at risk), led by $DAR (DARLING INGREDIENTS INC.) at 11.4% of the equity portfolio, followed by $ARIS and $DHT. During the quarter the fund opened 27 new positions and exited 39 — including a new stake in $DAR and a full exit from $DAR. The portfolio is most concentrated in Materials (33.3% of disclosed assets). All figures are sourced directly from THOMIST CAPITAL MANAGEMENT, LP’s Form 13F-HR filing with the SEC under CIK 1767809.
Funds like this
managers whose biggest positions overlap THOMIST CAPITAL MANAGEMENT'sBrowse Top Institutional Investors
13F Pro tracks 8,700+ institutional investors filing 13F reports with the SEC.
to search all 8,700+ institutional filers.
AI-Powered Hedge Fund Analysis: THOMIST CAPITAL MANAGEMENT, LP
13F Pro is an AI hedge fund tracker and stock research platform. For THOMIST CAPITAL MANAGEMENT, LP (SEC CIK: 1767809), the platform ingests every quarterly Form 13F filing and applies AI-powered analysis on top — 10 specialized AI analysts (value, growth, momentum, macro, activist, and more) debate the fund's top positions and publish AI-generated analysis with cited SEC sources.
Every holding in THOMIST CAPITAL MANAGEMENT, LP's portfolio is scored on an AI quality ranking built from its SEC filings (ROIC, FCF margin, revenue growth, institutional flow, earnings quality, shareholder dilution, and more). Track accumulation and distribution quarter over quarter, identify conviction positions, and see AI stock analysis for each position — alongside 8,700+ other institutional filers and 2,800+ AI-ranked companies.