SEC 13F Intelligence

Managers / Q1 2026

THOMIST CAPITAL MANAGEMENT, LP

CIK 0001767809 · 3773 RICHMOND AVE, SUITE 777, HOUSTON, TX, 77046 · 8326782412

Reported Value
$371M
Q1 2026
Positions
57
Filings on Record
18
2019–present window
Filed
May 15, 2026
original filing

Summary

Thomist Capital Management, LP reported $371M in U.S.-listed holdings across 57 positions for Q1 2026.

Its largest position, DINO, represents 9.5% of the portfolio.

Compared with Q4 2025, the fund opened 41 new positions and exited 49.

Portfolio Metrics

Turnover
+68.1%
vs prior filed quarter
Top-10 Concentration
+47.9%
share of reported value
Largest Position
+9.5%
Hf Sinclair
New / Exited
41 / 49
positions this quarter

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’21: $102MQ4 ’21Q1 ’22: $188MQ2 ’22: $143MQ3 ’22: $134MQ3 ’22Q4 ’22: $203MQ1 ’23: $169MQ2 ’23: $159MQ2 ’23Q3 ’23: $161MQ4 ’23: $226MQ1 ’24: $243MQ1 ’24Q2 ’24: $280MQ3 ’24: $510MQ4 ’24: $385MQ4 ’24Q1 ’25: $254MQ2 ’25: $269MQ3 ’25: $506MQ3 ’25Q4 ’25: $471MQ1 ’26: $371Mfilingsflow.com

Portfolio Composition

By security type
Common Stock: 65.3%Other: 28.1%ADR: 3.9%ETP: 2.7%
  • Common Stock · 65.3% · $243M
  • Other · 28.1% · $104M
  • ADR · 3.9% · $14M
  • ETP · 2.7% · $10M

Quarter-over-Quarter Changes full breakdown →

vs Q4 2025 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
DARLING INGREDIENTS INCNEW+450.0K450.0K+$28M$28M
ARISARIS MINING CORPORATIONNEW+1.15M1.15M+$21M$21M
CF INDUSTRIES HOLDNEW+150.0K150.0K+$19M$19M
STLDSTEEL DYNAMICS INCNEW+105.3K105.3K+$19M$19M
DKDELEK US HLDGS INC NEWNEW+372.9K372.9K+$17M$17M
SSRMSSR MINING INNEW+548.9K548.9K+$16M$16M
EQXEQUINOX GOLD CORPNEW+890.9K890.9K+$13M$13M
PRPERMIAN RESOURCES CORPNEW+511.3K511.3K+$11M$11M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q1 2026

39 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1DINOHF SINCLAIR CORPhistory →COM9.51%$35M566.1K
2CNRCORE NATURAL RESOURCES INChistory →COM SHS6.34%$24M224.8K
3ARISARIS MINING CORPORATIONhistory →COM5.74%$21M1.15M
4STLDSTEEL DYNAMICS INChistory →COM5.10%$19M105.3K
5DKDELEK US HLDGS INC NEWhistory →COM4.52%$17M372.9K
6SSRMSSR MINING INhistory →COM4.34%$16M548.9K
7EQXEQUINOX GOLD CORPhistory →COM3.47%$13M890.9K
8VLRSCONTROLADORA VUELA COMP DE Ahistory →SPON ADR RP 103.00%$11M1.54M
9PRPERMIAN RESOURCES CORPhistory →CLASS A COM2.93%$11M511.3K
10LUVSOUTHWEST AIRLS COhistory →COM2.91%$11M288.0K
11VANGUARD INDEX FDSS&P 500 ETF SHS2.73%$10M17.0K
12RGLDROYAL GOLD INChistory →COM2.55%$9M37.3K
13UEOWESTLAKE CORPORATIONhistory →COM2.30%$9M73.0K
14BTEBAYTEX ENERGY CORPhistory →COM2.27%$8M1.89M
15BTUPEABODY ENGR CORPhistory →COM2.05%$8M231.6K
16EMNEASTMAN CHEM COhistory →COM1.74%$6M84.7K
17RICE ACQUISITION CORP 3UNIT 99/99/99991.44%$5M506.3K
18SCORPIO TANKERS INCSHS1.24%$5M61.9K
19FERROGLOBE PLCSHS1.20%$4M1.08M
20DHT HOLDINGS INCSHS NEW1.19%$4M241.7K
21OLNOLIN CORPhistory →COM PAR $11.07%$4M134.0K
22PIIPOLARIS INChistory →COM1.01%$4M68.8K
23RYAAYRYANAIR HOLDINGS PLCSPONSORED ADR0.86%$3M55.0K
24CWHCAMPING WORLD HLDGS INCCL A0.84%$3M457.3K
25DOOBRP INCCOM SUN VTG0.77%$3M40.1K
26HOGHARLEY DAVIDSON INCCOM0.77%$3M140.6K
27PARRPAR PAC HOLDINGS INCCOM NEW0.75%$3M44.8K
28OKEANIS ECO TANKERS CORSHS0.75%$3M55.1K
29KOSKOSMOS ENERGY LTDCOM0.69%$3M927.2K
30ODVOSISKO DEVELOPMENT CORPCOM NEW0.69%$3M790.0K
31LNGCHENIERE ENERGY INCCOM NEW0.62%$2M8.1K
32NORDIC AMERICAN TANKERS LIMICOM0.53%$2M338.9K
33NVDANVIDIA CORPORATIONCOM0.38%$1M8.1K
34HUTHUT 8 CORPCOM0.37%$1M29.6K
35SLSSOLARIS RES INCCOM NEW0.36%$1M154.6K
36RNGRGBPRANGER ENERGY SVCS INCCOM CL A0.34%$1M73.9K
37ALKALASKA AIR GROUP INCCOM0.28%$1M28.4K
38EXPRO GROUP HOLDINGS NVCOM0.26%$950,58654.6K
39RIOTRIOT PLATFORMS INCCOM0.22%$834,30067.5K

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$371M57May 15, 202613F-HRchanges · EDGAR ↗
Q4 2025$471M65Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$506M76Nov 14, 202513F-HRchanges · EDGAR ↗
Q2 2025$269M43Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$254M38May 14, 202513F-HRchanges · EDGAR ↗
Q4 2024$385M50Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$510M29Nov 14, 202413F-HRchanges · EDGAR ↗
Q2 2024$280M37Aug 12, 202413F-HRchanges · EDGAR ↗
Q1 2024$243M27Apr 30, 202413F-HRchanges · EDGAR ↗
Q4 2023$226M29Feb 14, 202413F-HRchanges · EDGAR ↗
Q3 2023$161M25Nov 14, 202313F-HRchanges · EDGAR ↗
Q2 2023$159M22Aug 11, 202313F-HRchanges · EDGAR ↗
Q1 2023$169M20May 15, 202313F-HRchanges · EDGAR ↗
Q4 2022$203M29Feb 9, 202313F-HRchanges · EDGAR ↗
Q3 2022$134M20Oct 21, 202213F-HRchanges · EDGAR ↗
Q2 2022$143M22Aug 12, 202213F-HRchanges · EDGAR ↗
Q1 2022$188M20May 13, 202213F-HRchanges · EDGAR ↗
Q4 2021$102M13Feb 11, 202213F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.