# Thomist Capital Management, LP

> Institutional holdings reported to the SEC as of Q2 2026 on Form 13F. CIK 1767809. Source: https://holderbook.com/funds/1767809-thomist-capital-management-lp/

- Reported value: $314.6M
- Positions: 45
- Weight of the ten largest: 61.1%
- Filed: 2026-08-14

A 13F reports long US equity positions only. Short positions, bonds, foreign listings, private holdings and cash are not visible, so this is not the manager's whole book.

## Holdings

| Security | Ticker | Value | Shares | Weight | Quarters held |
|---|---|---|---|---|---|
| DARLING INGREDIENTS INC | [DAR](https://holderbook.com/stocks/DAR/) | $30.9M | 566,094 | 9.8% | 1 |
| ARIS MINING CORPORATION | [ARIS](https://holderbook.com/stocks/ARIS/) | $26.1M | 1,751,221 | 8.3% | 2 |
| DHT HOLDINGS INC | [DHT](https://holderbook.com/stocks/DHT/) | $23.0M | 1,389,095 | 7.3% | 2 |
| CORE NATURAL RESOURCES INC | [CNR](https://holderbook.com/stocks/CNR/) | $21.3M | 266,532 | 6.8% | 3 |
| GREEN PLAINS INC | [GPRE](https://holderbook.com/stocks/GPRE/) | $19.5M | 1,270,612 | 6.2% | 1 |
| HUDBAY MINERALS INC | [HBM](https://holderbook.com/stocks/HBM/) | $17.3M | 734,227 | 5.5% | 1 |
| CONTROLADORA VUELA COMP DE A | [VLRS](https://holderbook.com/stocks/VLRS/) | $16.4M | 1,754,714 | 5.2% | 4 |
| PILGRIMS PRIDE CORP | [PPC](https://holderbook.com/stocks/PPC/) | $14.1M | 0 | 4.5% | 1 |
| FRONTLINE PLC | [FRO](https://holderbook.com/stocks/FRO/) | $12.9M | 369,740 | 4.1% | 1 |
| MOSAIC CO | [MOS](https://holderbook.com/stocks/MOS/) | $10.6M | 0 | 3.4% | 1 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $10.5M | 0 | 3.3% | 1 |
| DELEK US HLDGS INC NEW | [DK](https://holderbook.com/stocks/DK/) | $10.3M | 202,300 | 3.3% | 2 |
| PEABODY ENGR CORP | [BTU](https://holderbook.com/stocks/BTU/) | $9.8M | 422,432 | 3.1% | 2 |
| WESTLAKE CORPORATION | [WLK](https://holderbook.com/stocks/WLK/) | $7.0M | 96,200 | 2.2% | 6 |
| VANECK ETF TRUST | [SMH](https://holderbook.com/stocks/SMH/) | $6.9M | 0 | 2.2% | 1 |
| HF SINCLAIR CORP | [DINO](https://holderbook.com/stocks/DINO/) | $6.8M | 97,063 | 2.1% | 8 |
| OKEANIS ECO TANKERS COR | [ECO](https://holderbook.com/stocks/ECO/) | $6.7M | 133,922 | 2.1% | 2 |
| IAMGOLD CORP | [IAG](https://holderbook.com/stocks/IAG/) | $6.4M | 404,362 | 2.0% | 1 |
| RICE ACQUISITION CORP 3 | [KRSPU](https://holderbook.com/stocks/KRSPU/) | $5.7M | 531,645 | 1.8% | 3 |
| PPG INDS INC | [PPG](https://holderbook.com/stocks/PPG/) | $5.5M | 45,100 | 1.7% | 1 |
| UNITED AIRLS HLDGS INC | [UAL](https://holderbook.com/stocks/UAL/) | $5.0M | 36,990 | 1.6% | 1 |
| TREKOR METALS LTD | - | $4.2M | 608,925 | 1.3% | 1 |
| MATADOR RES CO | [MTDR](https://holderbook.com/stocks/MTDR/) | $4.0M | 80,200 | 1.3% | 1 |
| PAR PAC HOLDINGS INC | [PARR](https://holderbook.com/stocks/PARR/) | $3.7M | 66,060 | 1.2% | 17 |
| AMERICAN AIRLINES GROUP INC | [AAL](https://holderbook.com/stocks/AAL/) | $3.5M | 195,020 | 1.1% | 1 |
| HMH HLDG INC | - | $3.0M | 158,161 | 0.9% | 1 |
| FERROGLOBE PLC | [GSM](https://holderbook.com/stocks/GSM/) | $2.9M | 922,217 | 0.9% | 11 |
| CHEMOURS CO | [CC](https://holderbook.com/stocks/CC/) | $2.9M | 142,900 | 0.9% | 1 |
| CVR ENERGY INC | [CVI](https://holderbook.com/stocks/CVI/) | $2.6M | 93,326 | 0.8% | 1 |
| HUT 8 CORP | [HUT](https://holderbook.com/stocks/HUT/) | $2.4M | 21,185 | 0.8% | 3 |
| RYANAIR HOLDINGS PLC | [RYAAY](https://holderbook.com/stocks/RYAAY/) | $2.2M | 34,370 | 0.7% | 2 |
| RANGER ENERGY SVCS INC | [RNGR](https://holderbook.com/stocks/RNGR/) | $1.8M | 113,460 | 0.6% | 2 |
| EAGLEROCK LD LLC | - | $1.5M | 70,000 | 0.5% | 1 |
| RIOT PLATFORMS INC | [RIOT](https://holderbook.com/stocks/RIOT/) | $1.0M | 36,600 | 0.3% | 2 |
| SOLARIS RES INC | [SLSR](https://holderbook.com/stocks/SLSR/) | $983.7K | 182,360 | 0.3% | 2 |
| MICRON TECHNOLOGY INC | [MU](https://holderbook.com/stocks/MU/) | $958.1K | 830 | 0.3% | 1 |
| CEREBRAS SYSTEMS INC | [CBRS](https://holderbook.com/stocks/CBRS/) | $663.0K | 0 | 0.2% | 1 |
| ISHARES TR | [IWM](https://holderbook.com/stocks/IWM/) | $640.8K | 0 | 0.2% | 1 |
| GREENLAND ENERGY CO | [GLND](https://holderbook.com/stocks/GLND/) | $608.3K | 276,500 | 0.2% | 1 |
| CEREBRAS SYSTEMS INC | [CBRS](https://holderbook.com/stocks/CBRS/) | $596.7K | 2,700 | 0.2% | 1 |
| KEEL INFRASTRUCTURE CORP | [KEEL](https://holderbook.com/stocks/KEEL/) | $475.3K | 82,800 | 0.2% | 1 |
| BITDEER TECHNOLOGIES GROUP | [BTDR](https://holderbook.com/stocks/BTDR/) | $455.5K | 28,700 | 0.1% | 1 |
| FUTUREFUEL CORP | [FF](https://holderbook.com/stocks/FF/) | $337.8K | 74,727 | 0.1% | 2 |
| GREENLAND ENERGY CO | [GLNDW](https://holderbook.com/stocks/GLNDW/) | $225.2K | 265,000 | 0.1% | 1 |
| SABLE OFFSHORE CORP | [SOC](https://holderbook.com/stocks/SOC/) | $184.2K | 59,794 | 0.1% | 1 |

## What the disclosed book did

Not the fund's return. This is the change in value of the positions disclosed on Form 13F, had they been left untouched, against SPY over the same quarter ends.

| Quarter | Book | Market | Difference | Priced |
|---|---|---|---|---|
| Q2 2026 | -1.7% | +14.8% | -16.5% | 100% |
| Q1 2026 | +29.0% | -4.6% | +33.7% | 98% |
| Q4 2025 | +10.3% | +2.4% | +7.9% | 100% |
| Q3 2025 | +33.1% | +7.8% | +25.3% | 62% |
| Q2 2025 | +6.6% | +10.5% | -3.9% | 94% |
| Q1 2025 | -13.9% | -4.6% | -9.4% | 109% |
| Q4 2024 | -14.4% | +2.1% | -16.6% | 101% |
| Q3 2024 | +5.7% | +5.4% | +0.3% | 91% |

## Quarter by quarter

| Quarter | Value | Positions |
|---|---|---|
| Q2 2026 | $314.6M | 45 |
| Q1 2026 | $371.5M | 57 |
| Q4 2025 | $471.0M | 65 |
| Q3 2025 | $506.3M | 76 |
| Q2 2025 | $269.1M | 38 |
| Q1 2025 | $253.7M | 34 |
| Q4 2024 | $384.6M | 50 |
| Q3 2024 | $510.2M | 29 |
| Q2 2024 | $280.3M | 36 |
| Q1 2024 | $243.5M | 27 |
| Q4 2023 | $226.3M | 28 |
| Q3 2023 | $161.0M | 24 |