TOMS Capital Investment Management LP In its 13F for Q2 2025 (holdings as of June 30, 2025, filed August 14, 2025), TOMS Capital Investment Management LP reported 12 stock positions worth $1.3 billion . Its top holding was Kenvue (KVUE) at 25.1% of the portfolio, followed by CSX (CSX, 13.6% ) and Norfolk Southern (NSC, 13.5% ). Compared with Q1 2025, it opened 6 new positions, sold out of 7, added to 2 and reduced 4. The biggest buy was a new position in CSX (CSX) and the biggest sale an exit from Costar (CSGP).
Location NEW YORK, NY
CIK 0001743937
Portfolio Value $1.3B (Q2 2025) Holdings 12 stocks · $1.3B 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 2025 KVUE Kenvue Inc. 16,163,000 $338.3M Add +12.1% CSX CSX Corp. 5,612,400 $183.1M New NSC Norfolk Southern Corp. 711,000 $182.0M New COF Capital One Financial Corp. 615,000 $130.8M New SNPS Synopsys Inc. 216,000 $110.7M New CRS Carpenter Technology 386,000 $106.7M New BDX Becton Dickinson and Co. 406,000 $69.9M New PENN Penn Entertainment Inc. 3,767,500 $67.3M Reduce -1.4% TSM Taiwan Semiconductor-SP ADR 265,000 $60.0M Reduce -58.8% AMZN Amazon.com Inc. 220,800 $48.4M Reduce -55.9% RIOT Riot Platforms Inc. 3,764,000 $42.5M Add +21.9% TIC Tic Solutions Inc. filed as ACUREN CORP 850,000 $9.4M Reduce -15.0%
Options reported separately and not counted above: SPY puts ($926.8M), KVUE calls ($464.1M), CSX calls ($197.9M), TSM puts ($45.3M), JBS calls ($43.8M), ROIV calls ($37.6M), CORZ calls ($17.1M).
Portfolio Sells Q1 2025 → Q2 2025 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 2025 % Of Portfolio Change To Portfolio ▲ CSGP Costar Group Inc. Sold out 0.00% −20.58 X United States Steel Corp. Sold out 0.00% −15.31 TLN Talen Energy Corp. Sold out 0.00% −4.83 AMZN Amazon.com Inc. Reduce -55.9% 3.59% −3.47 TSM Taiwan Semiconductor-SP ADR Reduce -58.8% 4.45% −3.45 NVDA Nvidia Corp. Sold out 0.00% −3.24 FLUT Flutter Entertainment PLC-Di Sold out 0.00% −3.15 ROIV Roivant Sciences Ltd. Sold out 0.00% −3.06 APP AppLovin Corp. Class A Sold out 0.00% −2.22 TIC Tic Solutions Inc. Reduce -15.0% 0.70% −0.13 PENN Penn Entertainment Inc. Reduce -1.4% 4.99% +0.38
Portfolio Buys Q1 2025 → Q2 2025 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 2025 % Of Portfolio Change To Portfolio ▼ CSX CSX Corp. New 13.57% +13.57 NSC Norfolk Southern Corp. New 13.49% +13.49 COF Capital One Financial Corp. New 9.70% +9.70 SNPS Synopsys Inc. New 8.21% +8.21 CRS Carpenter Technology New 7.91% +7.91 BDX Becton Dickinson and Co. New 5.18% +5.18 RIOT Riot Platforms Inc. Add +21.9% 3.15% +1.52 KVUE Kenvue Inc. Add +12.1% 25.07% −0.52
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ SPY SS SPDR S&P 500 ETF Trust-US put Reduce -34.8% 1,500,000 $926.8M KVUE Kenvue Inc. call Add +632.7% 22,175,000 $464.1M X United States Steel Corp. call Sold out 6,200,100 $262.0Mbefore exit CSX CSX Corp. call New 6,066,100 $197.9M PENN Penn Entertainment Inc. call Sold out 7,500,000 $122.3Mbefore exit TSM Taiwan Semiconductor-SP ADR put Reduce -73.0% 200,000 $45.3M JBS JBS NV-A call New 3,000,000 $43.8M ROIV Roivant Sciences Ltd. call Add +1.6% 3,340,000 $37.6M ALK Alaska Air Group Inc. call Sold out 505,000 $24.9Mbefore exit CORZ Core Scientific Inc. call New 1,000,000 $17.1M RIOT Riot Platforms Inc. call Sold out 2,018,300 $14.4Mbefore exit
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 16 $1.9B DVN, STX, RIOT, INTC, MKSI Q1 2026 14 $1.5B AER, NVDA, FWONK, STX, FDX Q4 2025 13 $1.4B TGT, UNP, UAL, NVDA, CRS Q3 2025 11 $1.1B KVUE, UNP, CRS, CORZ, GOOG Q2 2025 12 $1.3B KVUE, CSX, NSC, COF, SNPS Q1 2025 13 $1.4B KVUE, CSGP, X, TSM, AMZN Q4 2024 10 $857.7M PM, AER, APH, FLUT, TSM Q3 2024 19 $1.2B PM, APD, CVS, TSM, ADBE Q2 2024 17 $1.3B K, PM, ADBE, HUBS, MSFT Q1 2024 15 $1.5B K, ADBE, PM, AMZN, STLA