Q4 2025 · 13F-HR
THOMIST CAPITAL MANAGEMENT, LPholdings as filed
Filed 2026-02-13 · accession 0001420506-26-000336
$471.0M
Reported value
65
Positions
2025-12-31
Period end
The Brief · THOMIST CAPITAL MANAGEMENT, LP · Q4 2025
AI · grounded in 13F
THOMIST CAPITAL MANAGEMENT, LP closed its position in Nutrien Ltd NTR, reducing exposure by $47.7M. The fund established new positions in the SPDR S&P 500 ETF Trust SPY for $34.1M and Oracle Corp ORCL for $28.6M. Additionally, the fund added new stakes in Sable Offshore Corp SOC and Core Natural Resources Inc CNR.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| G7997W102 | SDRL | SEADRILL LTD | $63.4M | 13.5% | 1,835,718 | Common | SOLE |
| 78462F903 | SPY | SPDR S&P 500 ETF TR | $34.1M | 7.24% | 50,000 | CALL | SOLE |
| 68389X905 | ORCL | ORACLE CORP | $28.6M | 6.06% | 146,500 | CALL | SOLE |
| 78464A908 | — | SPDR SERIES TRUST | $22.6M | 4.80% | 348,900 | CALL | SOLE |
| 78574H104 | SOC | SABLE OFFSHORE CORP | $21.3M | 4.53% | 1,818,181 | Common | SOLE |
| 218937100 | CNR | CORE NATURAL RESOURCES INC | $20.7M | 4.40% | 234,000 | Common | SOLE |
| 56585A102 | MPC | MARATHON PETE CORP | $15.7M | 3.34% | 96,100 | Common | SOLE |
| 06849F108 | B | BARRICK MNG CORP | $14.6M | 3.11% | 330,600 | Common | SOLE |
| 03212B103 | AMPY | AMPLIFY ENERGY CORP NEW | $14.6M | 3.09% | 3,147,130 | Common | SOLE |
| 670346105 | NUE | NUCOR CORP | $14.3M | 3.03% | 86,500 | Common | SOLE |
| 403949100 | DINO | HF SINCLAIR CORP | $14.3M | 3.03% | 308,082 | Common | SOLE |
| 237266101 | DAR | DARLING INGREDIENTS INC | $13.2M | 2.80% | 360,803 | Common | SOLE |
| 443628102 | HBM | HUDBAY MINERALS INC | $11.9M | 2.53% | 599,600 | Common | SOLE |
| 680665205 | OLN | OLIN CORP | $10.6M | 2.25% | 505,833 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $10.4M | 2.21% | 24,350 | Common | SOLE |
| 78454L100 | SM | SM ENERGY CO | $10.4M | 2.20% | 552,905 | Common | SOLE |
| 07317Q105 | BTE | BAYTEX ENERGY CORP | $9.7M | 2.05% | 2,980,698 | Common | SOLE |
| 46438F901 | IBIT | ISHARES BITCOIN TRUST ETF | $8.9M | 1.90% | 180,000 | CALL | SOLE |
| 21240E105 | VLRS | CONTROLADORA VUELA COMP DE A | $8.9M | 1.89% | 1,009,652 | Common | SOLE |
| 960413102 | WLK | WESTLAKE CORPORATION | $8.4M | 1.78% | 111,900 | Common | SOLE |
| 450913108 | IAG | IAMGOLD CORP | $8.3M | 1.76% | 493,625 | Common | SOLE |
| 866683105 | SNCY | SUN CTRY AIRLS HLDGS INC | $8.0M | 1.70% | 555,935 | Common | SOLE |
| 393222104 | GPRE | GREEN PLAINS INC | $7.3M | 1.54% | 747,192 | Common | SOLE |
| G33856108 | GSM | FERROGLOBE PLC | $6.7M | 1.42% | 1,450,407 | Common | SOLE |
| 007903907 | AMD | ADVANCED MICRO DEVICES INC | $6.4M | 1.36% | 30,000 | CALL | SOLE |
| G7553X122 | KRSP/U | RICE ACQUISITION CORP 3 | $5.2M | 1.10% | 500,000 | Common | SOLE |
| 718546104 | PSX | PHILLIPS 66 | $5.0M | 1.07% | 38,900 | Common | SOLE |
| 12662P108 | CVI | CVR ENERGY INC | $5.0M | 1.07% | 199,200 | Common | SOLE |
| 78463V107 | GLD | SPDR GOLD TR | $4.8M | 1.03% | 12,150 | Common | SOLE |
| 844741108 | LUV | SOUTHWEST AIRLS CO | $4.2M | 0.90% | 102,860 | Common | SOLE |
| 78464A698 | KRE | SPDR SERIES TRUST | $4.1M | 0.87% | 62,500 | Common | SOLE |
| 156431108 | CENX | CENTURY ALUM CO | $4.0M | 0.84% | 100,000 | Common | SOLE |
| 642045108 | AESI | ATLAS ENERGY SOLUTIONS INC | $3.9M | 0.83% | 407,316 | Common | SOLE |
| 92206C664 | VTWO | VANGUARD SCOTTSDALE FDS | $3.6M | 0.76% | 35,710 | Common | SOLE |
| 642045908 | AESI | ATLAS ENERGY SOLUTIONS INC | $3.3M | 0.70% | 350,000 | CALL | SOLE |
| 456941103 | INR | INFINITY NAT RES INC | $3.1M | 0.65% | 202,795 | Common | SOLE |
| H11356104 | BG | BUNGE GLOBAL SA | $3.0M | 0.64% | 33,600 | Common | SOLE |
| 163851108 | CC | CHEMOURS CO | $2.9M | 0.62% | 245,400 | Common | SOLE |
| 53115L104 | LBRT | LIBERTY ENERGY INC | $2.2M | 0.47% | 117,713 | Common | SOLE |
| 678026105 | OIS | OIL STS INTL INC | $2.0M | 0.42% | 288,084 | Common | SOLE |
| 974637100 | WGO | WINNEBAGO INDS INC | $1.9M | 0.41% | 46,700 | Common | SOLE |
| 885160101 | THO | THOR INDS INC | $1.9M | 0.41% | 18,360 | Common | SOLE |
| 46428Q109 | SLV | ISHARES SILVER TR | $1.8M | 0.38% | 26,100 | Common | SOLE |
| 731068102 | PII | POLARIS INC | $1.6M | 0.34% | 25,048 | Common | SOLE |
| 13462K109 | CWH | CAMPING WORLD HLDGS INC | $1.6M | 0.34% | 163,980 | Common | SOLE |
| P31076105 | CPA | COPA HOLDINGS SA | $1.4M | 0.30% | 11,660 | Common | SOLE |
| 55826T102 | SPHR | SPHERE ENTERTAINMENT CO | $1.4M | 0.29% | 14,270 | Common | SOLE |
| 012653101 | ALB | ALBEMARLE CORP | $1.2M | 0.26% | 8,500 | Common | SOLE |
| 910047109 | UAL | UNITED AIRLS HLDGS INC | $1.1M | 0.23% | 9,710 | Common | SOLE |
| 464287515 | IGV | ISHARES TR | $995,007 | 0.21% | 9,300 | Common | SOLE |
| 864159108 | RGR | STURM RUGER & CO INC | $746,041 | 0.16% | 22,940 | Common | SOLE |
| 44812J104 | HUT | HUT 8 CORP | $629,408 | 0.13% | 13,600 | Common | SOLE |
| 21873S108 | CRWV | COREWEAVE INC | $546,860 | 0.12% | 7,400 | Common | SOLE |
| 038169207 | APLD | APPLIED DIGITAL CORP | $522,536 | 0.11% | 21,700 | Common | SOLE |
| 68389X105 | ORCL | ORACLE CORP | $512,746 | 0.11% | 2,600 | Common | SOLE |
| 02376R102 | AAL | AMERICAN AIRLS GROUP INC | $483,262 | 0.10% | 31,580 | Common | SOLE |
| 830879102 | SKYW | SKYWEST INC | $475,892 | 0.10% | 4,710 | Common | SOLE |
| 78574H904 | SOC | SABLE OFFSHORE CORP | $451,000 | 0.10% | 50,000 | CALL | SOLE |
| G93A5A101 | VIK | VIKING HOLDINGS LTD | $411,700 | 0.09% | 5,710 | Common | SOLE |
| G66721104 | NCLH | NORWEGIAN CRUISE LINE HLDG L | $331,748 | 0.07% | 14,809 | Common | SOLE |
| 29970N104 | EVEX | EVE HLDG INC | $322,355 | 0.07% | 80,880 | Common | SOLE |
| 69888T207 | PARR | PAR PAC HOLDINGS INC | $299,269 | 0.06% | 8,423 | Common | SOLE |
| 535219109 | LIND | LINDBLAD EXPEDITIONS HLDGS I | $286,692 | 0.06% | 19,800 | Common | SOLE |
| 30049H102 | EVLV | EVOLV TECHNOLOGIES HLDNGS IN | $241,339 | 0.05% | 34,090 | Common | SOLE |
| 91879Q109 | MTN | VAIL RESORTS INC | $226,457 | 0.05% | 1,700 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.