# Thomist Capital Management, LP

> Thomist Capital Management, LP is an SEC-registered investment advisory firm in Houston, TX, registered since 2019, reporting $500 million to $1 billion in regulatory assets under management in its Form ADV filing dated March 2, 2026.

- CRD: 299815
- Filed as: THOMIST CAPITAL MANAGEMENT, LP
- Registration: SEC-registered investment adviser (status as filed: Approved)
- Location: Houston, TX
- Filing period: October 2026
- Form ADV filing dated: March 2, 2026
- SEC record (IAPD): https://adviserinfo.sec.gov/firm/summary/299815
- AdvisorCensus page: https://advisorcensus.com/firm/thomist-capital-management-lp-houston-tx-299815

## Quick answers

**How is Thomist Capital Management, LP compensated?**
On its Form ADV (Item 5.E, October 2026), Thomist Capital Management, LP reports these compensation arrangements: a percentage of assets under its management; performance-based fees. The amounts are in Item 5 of its Form ADV Part 2A brochure.

**Where is Thomist Capital Management, LP located?**
Thomist Capital Management, LP's principal office is in Houston, TX, according to its Form ADV.

**Is Thomist Capital Management, LP registered with the SEC or a state?**
Thomist Capital Management, LP is an SEC-registered investment advisory firm, registered since 2019. Status as filed: Approved. CRD 299815.

**How much does Thomist Capital Management, LP manage?**
Thomist Capital Management, LP reports $736,179,983 in regulatory assets under management in its Form ADV filing dated March 2, 2026 (100% discretionary).

**How have Thomist Capital Management, LP's assets and staff changed since 2021?**
In the Form ADV data for Thomist Capital Management, LP: Regulatory assets under management: $66,243,198 in the October 2021 data and $736,179,983 in the October 2026 data, up 1011%. Total employees: 3 in October 2021 and 10 in October 2026. Assets under management move with markets as well as with clients coming and going.

**What types of clients does Thomist Capital Management, LP serve?**
By number of clients on Form ADV Item 5.D: pooled investment vehicles (other than investment companies and business development companies) (2).

**Does Thomist Capital Management, LP report any disciplinary disclosures?**
Reports no disclosure items on Form ADV Item 11. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/299815

**What changed in Thomist Capital Management, LP's recent Form ADV filings?**
In the April 2026 filing data: Regulatory assets under management went from $533,970,697 to $736,179,983 (+38%). Employees performing advisory functions went from 9 to 10.

## From the Form ADV filing

### Compensation (Item 5.E)
- A percentage of assets under your management
- Performance-based fees

### Regulatory assets under management (Item 5.F)
- Total: $736,179,983
- Discretionary: $736,179,983
- Non-discretionary: $0

### Clients (Item 5.D)

| Client type | Clients | Assets |
| --- | --- | --- |
| Individuals (other than high net worth individuals) | 0 | $0 |
| High net worth individuals | 0 | $0 |
| Banking or thrift institutions | 0 | $0 |
| Investment companies | 0 | $0 |
| Business development companies | 0 | $0 |
| Pooled investment vehicles (other than investment companies and business development companies) | 2 | $736,179,983 |
| Pension and profit sharing plans (but not the plan participants or government pension plans) | 0 | $0 |
| Charitable organizations | 0 | $0 |
| State or municipal government entities (including government pension plans) | 0 | $0 |
| Other investment advisers | 0 | $0 |
| Insurance companies | 0 | $0 |
| Sovereign wealth funds and foreign official institutions | 0 | $0 |
| Corporations or other businesses not listed above | 0 | $0 |
| Other | 0 | $0 |

### Advisory services (Item 5.G)
- Portfolio management for pooled investment vehicles (other than investment companies)

### Firm details
- Registered since: 2019 (7 years)
- Employees: 10 total, 10 performing advisory functions
- Wrap fee program participation: No
- States registered or notice-filed: TX
- Disclosures (Item 11): Reports no disclosure items on Form ADV Item 11.

### Websites listed on Form ADV (Item 1.I)
- thomistcapital.com
- LinkedIn @thomist-capital-llc

## Assets and staff over time

| Data period | Regulatory assets under management | Employees | Filing dated |
| --- | --- | --- | --- |
| October 2021 | $66,243,198 | 3 | March 24, 2021 |
| October 2022 | $201,383,494 | 4 | March 22, 2022 |
| October 2023 | $444,471,058 | 5 | March 28, 2023 |
| October 2024 | $445,170,404 | 9 | March 20, 2024 |
| October 2025 | $533,970,697 | 9 | March 10, 2025 |
| October 2026 | $736,179,983 | 10 | March 2, 2026 |

Regulatory assets under management: $66,243,198 in the October 2021 data and $736,179,983 in the October 2026 data, up 1011%.
Total employees: 3 in October 2021 and 10 in October 2026.

## Changes in the filing (last 12 months)

### April 2026
- Regulatory assets under management went from $533,970,697 to $736,179,983 (+38%).
- Employees performing advisory functions went from 9 to 10.

## Source

Form ADV as filed, October 2026. Values appear as filed. Cite as: AdvisorCensus. Thomist Capital Management, LP (CRD 299815): Form ADV filing data as of October 2026.