Thomist Capital Management, LP In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 12, 2024), Thomist Capital Management, LP reported 35 stock positions worth $276.9 million . Its top holding was Peabody Energy (BTU) at 17.4% of the portfolio, followed by Algoma Steel (ASTL, 15.7% ) and Marathon Petroleum (MPC, 12.9% ). Compared with Q1 2024, it opened 23 new positions, sold out of 14, added to 6 and reduced 5. The biggest buy was a new position in Phillips 66 (PSX) and the biggest sale Silverbow Resources (SBOW, shares −54% ).
Location Houston, TX
CIK 0001767809
Portfolio Value $276.9M (Q2 2024) Holdings 35 stocks · $276.9M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2024 BTU Peabody Energy Corp. 2,126,284 $48.1M Add +5.0% ASTL Algoma Steel Group Inc. 4,977,609 $43.4M Reduce -0.6% MPC Marathon Petroleum Corp. 215,618 $35.7M Add +103.8% GSM Ferroglobe PLC 3,133,022 $18.0M Add +159.3% VOO Vanguard S&P 500 ETF 30,169 $15.4M Add +4.0% PSX Phillips 66 107,400 $15.0M New PARR Par Pacific Holdings Inc. 559,277 $13.1M Add +50.0% XLE SS Energy Select Sector 116,558 $10.7M Add +14.7% VTLE Vital Energy Inc. 231,500 $10.4M New SBOW Silverbow Resources Inc. 243,264 $9.2M Reduce -54.2% GLD SPDR Gold Shares 32,874 $7.3M New TSN Tyson Foods Inc. Class A 107,000 $6.3M New DAR Darling Ingredients Inc. 138,000 $5.1M New CIVI Civitas Resources Inc. 70,741 $5.0M New DO Diamond Offshore Drilling Inc. 217,920 $3.5M New SGML Sigma Lithium Corp. 279,772 $3.4M Reduce -57.3% NE Noble Corp. PLC 53,892 $2.5M New GDX Vaneck Gold Miners ETF 67,239 $2.5M New MUR Murphy Oil Corp. 60,355 $2.5M New AA Alcoa Corp. 67,800 $2.3M New APLD Applied Digital Corp. 425,000 $2.2M New SERV Serve Robotics Inc. 208,910 $2.0M New ATLX Atlas Lithium Inc. 147,796 $1.8M Reduce -8.0% CDE Coeur Mining Inc. 280,000 $1.8M New ALB Albemarle Corp. 17,725 $1.6M New EXE Expand Energy Corp. filed as CHESAPEAKE ENERGY CORP 16,800 $1.4M No change BTDR Bitdeer Technologies Group-A 112,667 $1.3M New NPWR Net Power Inc. 112,729 $1.1M New GPRE Green Plains Inc. 61,700 $1.0M New GEVO Gevo Inc. 1,399,764 $830K Reduce -41.3% SCCO Southern Copper Corp. 6,447 $674K New RIOT Riot Platforms Inc. 47,517 $584K New SDIG Stronghold Digital Mining-A 118,856 $485K New ENLC Enlink Midstream LLC 16,948 $243K New PLL Piedmont Lithium Inc. 15,713 $171K New
Options reported separately and not counted above: BTU calls ($2.2M), CLF calls ($1.2M).
Portfolio Sells Q1 2024 → Q2 2024 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▲ SBOW Silverbow Resources Inc. Reduce -54.2% 3.33% −4.26 FCX Freeport-McMoran Inc. Sold out 0.00% −2.64 TECK Teck Resources Ltd.-CLS B Sold out 0.00% −2.63 SGML Sigma Lithium Corp. Reduce -57.3% 1.24% −2.31 ASTL Algoma Steel Group Inc. Reduce -0.6% 15.69% −2.11 CF CF Industries Holdings Inc. Sold out 0.00% −2.06 DOW Dow Inc. Sold out 0.00% −1.69 BTE Baytex Energy Corp. Sold out 0.00% −1.59 MOS The Mosaic Co. Sold out 0.00% −1.43 ADM Archer-Daniels-Midland Co. Sold out 0.00% −1.40 LAR Lithium Americas Argentina C Sold out 0.00% −1.36 PBF PBF Energy Inc. Class A Sold out 0.00% −1.35 CTVA Corteva Inc. Sold out 0.00% −1.30 CRGY Crescent Energy Inc. Class A Sold out 0.00% −1.27 VLO Valero Energy Corp. Sold out 0.00% −1.09 NTR Nutrien Ltd. Sold out 0.00% −0.83 ATLX Atlas Lithium Inc. Reduce -8.0% 0.66% −0.48 GEVO Gevo Inc. Reduce -41.3% 0.30% −0.47 TSEOQ Trinseo PLC Sold out 0.00% −0.26
Portfolio Buys Q1 2024 → Q2 2024 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2024 % Of Portfolio Change To Portfolio ▼ PSX Phillips 66 New 5.41% +5.41 GSM Ferroglobe PLC Add +159.3% 6.51% +3.99 MPC Marathon Petroleum Corp. Add +103.8% 12.91% +3.99 VTLE Vital Energy Inc. New 3.77% +3.77 GLD SPDR Gold Shares New 2.63% +2.63 TSN Tyson Foods Inc. Class A New 2.29% +2.29 DAR Darling Ingredients Inc. New 1.85% +1.85 CIVI Civitas Resources Inc. New 1.82% +1.82 DO Diamond Offshore Drilling Inc. New 1.27% +1.27 NE Noble Corp. PLC New 0.91% +0.91 GDX Vaneck Gold Miners ETF New 0.91% +0.91 MUR Murphy Oil Corp. New 0.89% +0.89 AA Alcoa Corp. New 0.85% +0.85 APLD Applied Digital Corp. New 0.80% +0.80 SERV Serve Robotics Inc. New 0.73% +0.73 CDE Coeur Mining Inc. New 0.64% +0.64 ALB Albemarle Corp. New 0.59% +0.59 BTDR Bitdeer Technologies Group-A New 0.47% +0.47 NPWR Net Power Inc. New 0.39% +0.39 GPRE Green Plains Inc. New 0.36% +0.36 SCCO Southern Copper Corp. New 0.24% +0.24 RIOT Riot Platforms Inc. New 0.21% +0.21 SDIG Stronghold Digital Mining-A New 0.18% +0.18 ENLC Enlink Midstream LLC New 0.09% +0.09 PLL Piedmont Lithium Inc. New 0.06% +0.06 XLE SS Energy Select Sector Add +14.7% 3.87% −0.15 VOO Vanguard S&P 500 ETF Add +4.0% 5.55% −0.28 PARR Par Pacific Holdings Inc. Add +50.0% 4.73% −1.05 BTU Peabody Energy Corp. Add +5.0% 17.36% −3.20
Options Activity Q1 2024 → Q2 2024 Security Type Change vs Q1 2024 Underlying Shares Value ▼ SIGMA LITHIUM CORPORATION call Sold out 348,100 $4.5Mbefore exit BTU Peabody Energy Corp. call New 100,000 $2.2M CLF Cleveland-Cliffs Inc. call New 80,000 $1.2M
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 38 $271.0M DAR, ARIS, DHT, CNR, GPRE Q1 2026 43 $292.5M DINO, CNR, ARIS, STLD, DK Q4 2025 58 $366.6M SDRL, SOC, CNR, MPC, B Q3 2025 59 $320.9M SDRL, BG, DAR, VLO, GLD Q2 2025 35 $165.8M SDRL, CMC, HBM, DK, METC Q1 2025 33 $237.7M SDRL, SPY, DINO, SOC, HBM Q4 2024 45 $310.6M STLD, ASTL, SDRL, CHRD, DAR Q3 2024 28 $396.1M BTU, PSX, ASTL, CIVI, SDRL Q2 2024 35 $276.9M BTU, ASTL, MPC, GSM, VOO Q1 2024 26 $238.9M BTU, ASTL, MPC, SBOW, VOO