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Thomist Capital Management, LP

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13F filer, CIK 1767809, Houston, TX

Thomist Capital Management, LP reported $269,067,590 across 43 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-13. Its ten largest share positions make up 69.69% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-25-001916

Period
2025-06-30
Reported value
$269M
Holdings
43
Top 10 weight
69.69%
New
31
Sold out
26

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CMCnew+298,871$14.9M
DKnew+615,907$13.1M
METCnew+905,747$11.1M
AAnew+260,437$7.41M
IPXnew+1,885,203$5.84M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
DINOreduced-477,830-$19.7M
SPYexited-34,400-$19.1M
SOCexited-591,500-$15.3M
SDRLreduced-338,731-$8.83M
GPORexited-44,566-$8.16M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001420506-25-001916, largest first. % of portfolio is the value over $165,808,584, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
SDRLSEADRILL LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 435,620 shares; 2024Q4: 700,448 shares; 2025Q1: 1,611,825 shares; 2025Q2: 1,273,094 shares 1,273,094$33.2M20.01%-338,731Timeline
CMCCOMMERCIAL METALS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 298,871 shares 298,871$14.9M9.02%newTimeline
HBMHUDBAY MINERALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 1,684,700 shares; 2025Q2: 1,268,513 shares 1,268,513$13.4M8.08%-416,187Timeline
DKDELEK US HLDGS INC NEWQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 615,907 shares 615,907$13.1M7.87%newTimeline
METCRAMACO RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 905,747 shares 905,747$11.1M6.66%newTimeline
AAALCOA CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 73,900 shares; 2024Q4: 130,100 shares; 2025Q1: not reported; 2025Q2: 260,437 shares 260,437$7.41M4.47%newTimeline
TSNTYSON FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,000 shares; 2024Q4: not reported; 2025Q1: 15,255 shares; 2025Q2: 109,100 shares 109,100$6.03M3.63%+93,845Timeline
IPXIPERIONX LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 939,088 shares; 2025Q1: not reported; 2025Q2: 1,885,203 shares 1,885,203$5.84M3.52%newTimeline
WLKWESTLAKE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,800 shares; 2024Q4: not reported; 2025Q1: 46,100 shares; 2025Q2: 71,600 shares 71,600$5.45M3.29%+25,500Timeline
GSMFERROGLOBE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,319,870 shares; 2024Q4: 2,482,895 shares; 2025Q1: 1,999,768 shares; 2025Q2: 1,418,951 shares 1,418,951$5.19M3.13%-580,817Timeline
OLNOLIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 252,331 shares 252,331$5.16M3.11%newTimeline
PARRPAR PAC HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,248 shares; 2024Q4: 23,468 shares; 2025Q1: 111,789 shares; 2025Q2: 192,131 shares 192,131$5.11M3.08%+80,342Timeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,474 shares; 2024Q4: 26,374 shares; 2025Q1: 32,940 shares; 2025Q2: 14,700 shares 14,700$4.43M2.67%-18,240Timeline
MTDRMATADOR RES COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 88,952 shares 88,952$4.29M2.59%newTimeline
CENXCENTURY ALUM COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 37,646 shares; 2025Q2: 221,746 shares 221,746$4M2.41%+184,100Timeline
DARDARLING INGREDIENTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,300 shares; 2024Q4: 520,354 shares; 2025Q1: 290,600 shares; 2025Q2: 98,059 shares 98,059$3.74M2.25%-192,541Timeline
TKRTIMKEN COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 41,800 shares 41,800$3.06M1.85%newTimeline
DINOHF SINCLAIR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 267,500 shares; 2024Q4: 274,158 shares; 2025Q1: 548,434 shares; 2025Q2: 70,604 shares 70,604$2.91M1.75%-477,830Timeline
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 398,400 shares 398,400$2.82M1.7%newTimeline
LBRTLIBERTY ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 210,700 shares 210,700$2.45M1.48%newTimeline
SGMLSIGMA LITHIUM CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 285,381 shares; 2024Q4: 70,000 shares; 2025Q1: 443,980 shares; 2025Q2: 433,914 shares 433,914$2M1.21%-10,066Timeline
VOOVANGUARD INDEX FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 20,912 shares; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 2,812 shares 2,812$1.59M0.96%newTimeline
PEJINVESCO EXCHANGE TRADED FD TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 24,600 shares 24,600$1.4M0.84%newTimeline
IRENIREN LIMITEDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 139,000 shares; 2025Q1: not reported; 2025Q2: 67,000 shares 67,000$938K0.57%newTimeline
SMSM ENERGY COMPANYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 37,100 shares 37,100$931K0.56%newTimeline
RIOTRIOT PLATFORMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 82,200 shares 82,200$867K0.52%newTimeline
LUVSOUTHWEST AIRLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 26,500 shares 26,500$852K0.51%newTimeline
INVXINNOVEX INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 20,509 shares; 2025Q2: 48,609 shares 48,609$761K0.46%+28,100Timeline
WGOWINNEBAGO INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 20,500 shares 20,500$598K0.36%newTimeline
SNCYSUN CTRY AIRLS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 42,700 shares 42,700$507K0.31%newTimeline
CWHCAMPING WORLD HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 27,400 shares 27,400$495K0.3%newTimeline
THOTHOR INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,400 shares 5,400$484K0.29%newTimeline
DOOBRP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,400 shares 7,400$357K0.22%newTimeline
PIIPOLARIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,500 shares 7,500$307K0.19%newTimeline
SPHRSPHERE ENTERTAINMENT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000 shares 5,000$212K0.13%newTimeline

Options

Puts and calls, as filed. The amount and value describe the underlying shares, not the option premium, so they stay out of % of portfolio (H5).

SecurityTypeAmountValueChange
DKDELEK US HLDGS INC NEW Stockcall2,100,000$47Mnew
PARRPAR PAC HOLDINGS INC COM NEWcall704,300$22.1Mnew
METCRAMACO RES INC COM CL Acall735,100$15Mnew
AAALCOA CORP Stockcall447,100$13.4Mnew
CLMTCALUMET INC COMcall200,000$3.19Mnew
OLNOLIN CORP COM PAR $1call100,000$1.89Mnew
ASTLALGOMA STL GROUP INC COMcall100,000$535Knew
RUNSUNRUN INC COMcall20,000$205Knew

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SPYSTATE STR SPDR S&P 500 ETF T34,400$19.1Mshares
SOCSABLE OFFSHORE CORP591,500$15.3Mshares
SOCSABLE OFFSHORE CORP500,000$9.85Mcall
GPORGULFPORT ENERGY CORP44,566$8.16Mshares
CTVACORTEVA INC129,700$7.92Mshares
NUENUCOR CORP63,518$7.75Mshares
ADMARCHER DANIELS MIDLAND CO151,300$7.24Mshares
STLDSTEEL DYNAMICS INC54,818$6.8Mshares
CRGYCRESCENT ENERGY COMPANY579,150$6.45Mshares
CNRCORE NATURAL RESOURCES INC83,500$6.44Mshares
MPCMARATHON PETE CORP44,000$6.34Mshares
UNITED STATES STL CORP NEWUNITED STATES STL CORP NEW142,600$6.13Mshares
DIASTATE STR SPDR DOW JONES IND14,000$5.82Mshares
BGBUNGE GLOBAL SA67,400$5.15Mshares
LYBLYONDELLBASELL INDUSTRIES NV69,700$4.87Mshares
ASTLALGOMA STL GROUP INC737,877$4.21Mshares
SLVISHARES SILVER TR106,590$3.3Mshares
DARDARLING INGREDIENTS INC100,000$3.28Mcall
PPCPILGRIMS PRIDE CORP58,700$3.13Mshares
APAAPA CORPORATION100,000$1.58Mcall
Vital Energy IncVital Energy Inc51,636$1.11Mshares
IBITISHARES BITCOIN TRUST ETF19,400$923Kshares
Vital Energy IncVital Energy Inc50,000$699Kcall
UNITED STATES STL CORP NEWUNITED STATES STL CORP NEW15,100$641Kcall
ATLXATLAS LITHIUM CORP96,956$514Kshares
BRYBerry Corp37,499$119Kshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001420506-25-001916 base2025-08-13acceptance time not in the bulk data set