TOMS Capital Investment Management LP

Hedge Fund • Long/Short

TOMS Capital Investment Management LP is a Long/Short Hedge Fund based in New York, NY led by Benjamin Pass, reporting $2.4B in AUM as of Q3 2025 with 36% Industrials concentration, with only 10 positions, and 25% allocation to KVUE.

CIOBenjamin Pass

Portfolio Value: $1.1B
Positions: 10
Top Holding: KVUE at 25.42%
Last Reported: Q3 2025

Address450 West 14th Street, 13th Floor, New York, NY, 10014, United States

Top Holdings

Largest long holdings in TOMS Capital Investment Management LP's portfolio (100% of total portfolio)

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GthenH

Holding	Sector	Position	Weight	Traded	Ownership	Owned Since
1 Kenvue KVUE	Household & Personal Products Consumer Defensive	$282.4M	25.42%	+$20.1M Bought	0.91% 17.4M shares	Q1 2025 Held for 8 months
2 Union Pacific UNP	Railroads Industrials	$214.3M	19.29%	+$214.3M New	0.15% 906.7K shares	Q3 2025 Held for 2 months
3 Carpenter Technology CRS	Manufacturing - Metal Fabrication Industrials	$113.4M	10.21%	+$18.7M Bought	0.93% 462.0K shares	Q2 2025 Held for 5 months
4 Core Scientific, Inc. CORZ	Software - Infrastructure Technology	$101.6M	9.15%	+$101.6M New	1.84% 5.7M shares	Q2 2025 Held for 5 months
5 Alphabet Inc. GOOG	Internet Content & Information Communication Services	$89.0M	8.01%	+$89.0M New	0.00% 366.0K shares	Q3 2025 Held for 2 months
6 United Airlines Holdings UAL	Airlines, Airports & Air Services Industrials	$73.3M	6.60%	+$73.3M New	0.23% 760.0K shares	Q3 2025 Held for 2 months
7 BILL Holdings BILL	Software - Application Technology	$71.7M	6.46%	+$71.7M New	1.33% 1.4M shares	Q3 2025 Held for 2 months
8 Fair Isaac FICO	Software - Application Technology	$71.1M	6.40%	+$71.1M New	0.20% 47.5K shares	Q3 2025 Held for 2 months
9 Taiwan Semiconductor Manufacturing Company TSM	Semiconductors Technology	$53.1M	4.78%	-$20.9M Sold	— 190.0K shares	Q3 2025 Held for 2 months
10 Madison Square Garden Sports MSGS	Entertainment Communication Services	$41.0M	3.69%	+$41.0M Bought	0.75% 180.5K shares	Q3 2025 Held for 2 months

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GthenH

Changes

Portfolio activity, position movements, and quarter-over-quarter changes in TOMS Capital Investment Management LP's latest filing

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GthenC

Market Value

$1.1B

Prior: $1.3B

Q/Q Change

-17.67%

-$238.4M

Net Flows % of MV

-18.5%

Turnover Ratio

70.48%

New Purchases

6 stocks

$621.0M

Added To

2 stocks

+$38.7M

Sold Out Of

9 stocks

$844.3M

Reduced Holdings

1 stocks

-$20.9M

Increased Positions

Position	Shares Δ	Change
1 Union Pacific UNP	New	0 → 906.7K +$214.3M
2 Core Scientific, Inc. CORZ	New	0 → 5.7M +$101.6M
3 Alphabet Inc. GOOG	New	0 → 366.0K +$89.0M
4 United Airlines Holdings UAL	New	0 → 760.0K +$73.3M
5 BILL Holdings BILL	New	0 → 1.4M +$71.7M

Decreased Positions

Position	Shares Δ	Change
1 CSX CSX	Sold	5.6M → 0 −$183.1M
2 Norfolk Southern NSC	Sold	711.0K → 0 −$182.0M
3 Capital One Financial COF	Sold	615.0K → 0 −$130.8M
4 Synopsys SNPS	Sold	216.0K → 0 −$110.7M
5 Becton, Dickinson and Company BDX	Sold	406.0K → 0 −$69.9M