THOMIST CAPITAL MANAGEMENT, LP

Q4 2025 13F-HR Holdings

Location
Houston, TX
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
65
Total value ($000)
$470,966
Net value change ($000)
-35,327 (-7.0%)
New positions
27
Sold out positions
28
Turnover %
75.0%
Sector allocation + QoQ delta (equities-only)
Prev filing: 11/14/2025 Next filing: — SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
SDRL 24,642 63.6%
SOC 21,327 NEW
CNR 20,739 NEW
MPC 15,717 NEW
AMPY 14,571 NEW
HBM 11,932 NEW
NUE 11,819 485.2%
LIN 10,431 NEW
SM 10,384 NEW
BTE 9,657 NEW
Top Reduces (Value $000, Stocks/ETFs)
VLO -19,779 -100.0%
BG -18,976 -86.3%
GLD -12,177 -71.5%
RIO -11,496 -100.0%
ARIS -10,003 -100.0%
KRE -9,533 -70.0%
ADM -7,677 -100.0%
DAR -7,288 -35.6%
TSN -7,113 -100.0%
BTU -6,638 -100.0%
Instrument mix + QoQ Δ (ex-options)
Derivatives reported exposure ($000): 104,372 (22.2% of total reported value)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type