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Thomist Capital Management, LP

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13F filer, CIK 1767809, Houston, TX

Thomist Capital Management, LP reported $506,292,963 across 76 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14. Its ten largest share positions make up 58.66% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001420506-25-003334

Period
2025-09-30
Reported value
$506M
Holdings
76
Top 10 weight
58.66%
New
54
Sold out
21

Largest buys vs the previous quarter

SecurityShares changeApprox. value
BGnew+266,664$22M
VLOnew+114,900$19.8M
DARadded+569,288$17.4M
KREnew+214,300$13.6M
DINOadded+241,796$12.7M

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
CMCreduced-276,271-$15.8M
HBMexited-1,268,513-$13.4M
DKexited-615,907-$13.1M
METCexited-905,747-$11.1M
AAexited-260,437-$7.41M

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, Q3 2025

Share positions as resolved from 13F-HR 0001420506-25-003334, largest first. % of portfolio is the value over $320,866,288, 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; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 435,620 shares; 2024Q4: 700,448 shares; 2025Q1: 1,611,825 shares; 2025Q2: 1,273,094 shares; 2025Q3: 1,269,299 shares 1,269,299$38.7M12.08%-3,795Timeline
BGBUNGE GLOBAL SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 67,400 shares; 2025Q2: not reported; 2025Q3: 266,664 shares 266,664$22M6.85%newTimeline
DARDARLING INGREDIENTS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 29,300 shares; 2024Q4: 520,354 shares; 2025Q1: 290,600 shares; 2025Q2: 98,059 shares; 2025Q3: 667,347 shares 667,347$20.5M6.37%+569,288Timeline
VLOVALERO ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 31,500 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 114,900 shares 114,900$19.8M6.16%newTimeline
GLDSPDR GOLD TRQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 55,474 shares; 2024Q4: 26,374 shares; 2025Q1: 32,940 shares; 2025Q2: 14,700 shares; 2025Q3: 48,300 shares 48,300$17M5.31%+33,600Timeline
DINOHF SINCLAIR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 267,500 shares; 2024Q4: 274,158 shares; 2025Q1: 548,434 shares; 2025Q2: 70,604 shares; 2025Q3: 312,400 shares 312,400$16.4M5.11%+241,796Timeline
OLNOLIN CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 252,331 shares; 2025Q3: 623,386 shares 623,386$15.2M4.75%+371,055Timeline
KRESPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 214,300 shares 214,300$13.6M4.25%newTimeline
IAGIAMGOLD CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 398,400 shares; 2025Q3: 1,050,227 shares 1,050,227$13.5M4.2%+651,827Timeline
RIORIO TINTO PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 174,400 shares 174,400$11.5M3.58%newTimeline
ARISARIS MINING CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 1,018,106 shares 1,018,106$10M3.12%newTimeline
ADMARCHER DANIELS MIDLAND COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 49,800 shares; 2024Q4: 215,190 shares; 2025Q1: 151,300 shares; 2025Q2: not reported; 2025Q3: 127,300 shares 127,300$7.68M2.39%newTimeline
TSNTYSON FOODS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 46,000 shares; 2024Q4: not reported; 2025Q1: 15,255 shares; 2025Q2: 109,100 shares; 2025Q3: 131,298 shares 131,298$7.11M2.22%+22,198Timeline
BBARRICK MNG CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 203,000 shares 203,000$6.73M2.1%newTimeline
BTUPEABODY ENGR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 6,394,172 shares; 2024Q4: 533,817 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 247,600 shares 247,600$6.64M2.07%newTimeline
VLRSCONTROLADORA VUELA COMP DE AQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 972,195 shares 972,195$6.63M2.07%newTimeline
GSMFERROGLOBE PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 1,494,911 shares 1,494,911$6.5M2.03%+75,960Timeline
SHWSHERWIN WILLIAMS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 18,700 shares 18,700$6.41M2%newTimeline
STLDSTEEL DYNAMICS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 305,700 shares; 2025Q1: 54,818 shares; 2025Q2: not reported; 2025Q3: 44,770 shares 44,770$6.22M1.94%newTimeline
IBITISHARES BITCOIN TRUST ETFQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 19,400 shares; 2025Q2: not reported; 2025Q3: 92,900 shares 92,900$6.04M1.88%newTimeline
SCCOSOUTHERN COPPER CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 48,700 shares 48,700$5.9M1.84%newTimeline
AMZNAMAZON COM INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 22,900 shares 22,900$5.09M1.59%newTimeline
EXEEXPAND ENERGY CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 41,900 shares 41,900$4.48M1.39%newTimeline
RRCRANGE RES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 115,900 shares 115,900$4.33M1.35%newTimeline
SGMLSIGMA LITHIUM CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 285,381 shares; 2024Q4: 70,000 shares; 2025Q1: 443,980 shares; 2025Q2: 433,914 shares; 2025Q3: 570,089 shares 570,089$3.88M1.21%+136,175Timeline
WLKWESTLAKE CORPORATIONQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,800 shares; 2024Q4: not reported; 2025Q1: 46,100 shares; 2025Q2: 71,600 shares; 2025Q3: 46,200 shares 46,200$3.56M1.11%-25,400Timeline
CENXCENTURY ALUM COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 37,646 shares; 2025Q2: 221,746 shares; 2025Q3: 83,991 shares 83,991$2.47M0.77%-137,755Timeline
NUENUCOR CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 143,700 shares; 2025Q1: 63,518 shares; 2025Q2: not reported; 2025Q3: 17,900 shares 17,900$2.44M0.76%newTimeline
ARANTERO RESOURCES CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 64,900 shares 64,900$2.18M0.68%newTimeline
EQTEQT CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 38,800 shares 38,800$2.11M0.66%newTimeline
CIVICIVITAS RESOURCES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 368,300 shares; 2024Q4: 90,600 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 61,300 shares 61,300$2.04M0.64%newTimeline
GPORGULFPORT ENERGY CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 44,566 shares; 2025Q2: not reported; 2025Q3: 11,300 shares 11,300$2.04M0.63%newTimeline
PARRPAR PAC HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 316,248 shares; 2024Q4: 23,468 shares; 2025Q1: 111,789 shares; 2025Q2: 192,131 shares; 2025Q3: 54,200 shares 54,200$1.94M0.6%-137,931Timeline
LUVSOUTHWEST AIRLS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 26,500 shares; 2025Q3: 55,410 shares 55,410$1.81M0.56%+28,910Timeline
HOGHARLEY DAVIDSON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 57,850 shares 57,850$1.65M0.52%newTimeline
PIIPOLARIS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,500 shares; 2025Q3: 23,391 shares 23,391$1.39M0.43%+15,891Timeline
CMCCOMMERCIAL METALS COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 298,871 shares; 2025Q3: 22,600 shares 22,600$1.29M0.4%-276,271Timeline
CWHCAMPING WORLD HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 27,400 shares; 2025Q3: 76,865 shares 76,865$1.25M0.39%+49,465Timeline
WGOWINNEBAGO INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 20,500 shares; 2025Q3: 34,315 shares 34,315$1.16M0.36%+13,815Timeline
INVXINNOVEX INTERNATIONAL INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 20,509 shares; 2025Q2: 48,609 shares; 2025Q3: 60,909 shares 60,909$1.12M0.35%+12,300Timeline
XHBSPDR SERIES TRUSTQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 9,000 shares 9,000$996K0.31%newTimeline
GPREGREEN PLAINS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 227,400 shares; 2024Q4: 126,033 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 103,800 shares 103,800$950K0.3%newTimeline
THOTHOR INDS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,400 shares; 2025Q3: 8,820 shares 8,820$924K0.29%+3,420Timeline
DOOBRP INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 7,400 shares; 2025Q3: 13,980 shares 13,980$845K0.26%+6,580Timeline
RYAAYRYANAIR HOLDINGS PLCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 14,070 shares 14,070$823K0.26%newTimeline
SLSRSOLARIS RES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 126,800 shares 126,800$806K0.25%newTimeline
LTMLATAM AIRLINES GROUP SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,945 shares 17,945$801K0.25%newTimeline
SDSANDRIDGE ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 59,200 shares 59,200$666K0.21%newTimeline
CPACOPA HOLDINGS SAQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,875 shares 4,875$581K0.18%newTimeline
SKYWSKYWEST INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 5,545 shares 5,545$558K0.17%newTimeline
VTWOVANGUARD SCOTTSDALE FDSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 4,151 shares 4,151$405K0.13%newTimeline
RGRSTURM RUGER & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 9,000 shares 9,000$385K0.12%newTimeline
SNCYSUN CTRY AIRLS HLDGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 42,700 shares; 2025Q3: 28,300 shares 28,300$339K0.11%-14,400Timeline
NCLHNORWEGIAN CRUISE LINE HLDGSQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 12,708 shares 12,708$315K0.1%newTimeline
APLDAPPLIED DIGITAL CORPQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 396,656 shares; 2024Q4: 74,756 shares; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 14,000 shares 14,000$310K0.1%newTimeline
SPHRSPHERE ENTERTAINMENT COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 5,000 shares; 2025Q3: 4,990 shares 4,990$310K0.1%-10Timeline
WBIWATERBRIDGE INFRASTRUCTURE LQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 10,000 shares 10,000$245K0.08%newTimeline
EVEXEVE HLDG INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 48,596 shares 48,596$189K0.06%newTimeline
EVLVEVOLV TECHNOLOGIES HLDNGS INQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 17,400 shares 17,400$137K0.04%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
SPDR SERIES TRUSTSPDR SERIES TRUST CALLcall870,000$55.1Mnew
NUTRIEN LTDNUTRIEN LTD PUTput813,000$47.7Mnew
STATE STR SPDR S&P 500 ETF TSTATE STR SPDR S&P 500 ETF T PUTput50,000$33.3Mnew
BUNGE GLOBAL SABUNGE GLOBAL SA COM SHScall100,000$8.12Mnew
AMPLIFY ENERGY CORP NEWAMPLIFY ENERGY CORP NEW COMcall1,500,000$7.88Mnew
CLEVELAND-CLIFFS INC NEWCLEVELAND-CLIFFS INC NEW CALLcall500,300$6.1Mnew
IREN LIMITEDIREN LIMITED ORDINARY SHARESput130,000$6.1Mnew
SABLE OFFSHORE CORPSABLE OFFSHORE CORP COM SHScall240,000$4.19Mnew
HUNTSMAN CORPHUNTSMAN CORP CALLcall300,000$2.69Mnew
OLIN CORPOLIN CORP COM PAR $1call100,000$2.5Mnew
TRONOX HOLDINGS PLCTRONOX HOLDINGS PLC CALLcall500,000$2.01Mnew
PLUG PWR INCPLUG PWR INC COM NEWput800,000$1.86Mnew
HYLIION HOLDINGS CORPHYLIION HOLDINGS CORP COMMON STOCKcall927,600$1.83Mnew
TERAWULF INCTERAWULF INC PUTput150,000$1.71Mnew
OKLO INCOKLO INC COM CL Aput15,100$1.69Mnew
COREWEAVE INCCOREWEAVE INC CALLput10,000$1.37Mnew
CIPHER DIGITAL INCCIPHER DIGITAL INC COMput100,000$1.26Mnew

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
DKDELEK US HLDGS INC NEW2,100,000$47Mcall
PARRPAR PAC HOLDINGS INC704,300$22.1Mcall
METCRAMACO RES INC735,100$15Mcall
AAALCOA CORP447,100$13.4Mcall
HBMHUDBAY MINERALS INC1,268,513$13.4Mshares
DKDELEK US HLDGS INC NEW615,907$13.1Mshares
METCRAMACO RES INC905,747$11.1Mshares
AAALCOA CORP260,437$7.41Mshares
IPXIPERIONX LTD1,885,203$5.84Mshares
MTDRMATADOR RES CO88,952$4.29Mshares
CLMTCALUMET INC200,000$3.19Mcall
TKRTIMKEN CO41,800$3.06Mshares
LBRTLIBERTY ENERGY INC210,700$2.45Mshares
OLNOLIN CORP100,000$1.89Mcall
VOOVANGUARD INDEX FDS2,812$1.59Mshares
PEJINVESCO EXCHANGE TRADED FD T24,600$1.4Mshares
IRENIREN LIMITED67,000$938Kshares
SMSM ENERGY COMPANY37,100$931Kshares
RIOTRIOT PLATFORMS INC82,200$867Kshares
ASTLALGOMA STL GROUP INC100,000$535Kcall
RUNSUNRUN INC20,000$205Kcall

How Q3 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 0001420506-25-003334 base2025-11-14acceptance time not in the bulk data set