1492 Capital Exits DHT Holdings Position Following Significant Stock Rally

1492 Capital Management disclosed in a recent SEC filing that it has completely exited its position in DHT Holdings (NYSE: DHT). The fund sold 333,051 shares during the first quarter, a transaction estimated at $5.30 million based on average quarterly pricing. The position previously represented 1.6% of the fund's assets under management. The exit appears to be a strategic move to lock in gains following a period of intense growth for the crude carrier operator. DHT's stock has climbed nearly 90% over the last twelve months, driven by a recovery in the tanker shipping market and strong operational performance. DHT continues to report robust financial figures, posting a fourth-quarter profit of $66.1 million and adjusted EBITDA of $95.3 million. Full-year net income reached $211 million, supported by vessel sales and a favorable charter market. Current Very Large Crude Carrier (VLCC) spot rates are hovering around $69,500 per day. Despite the strong earnings and a dividend policy that returns 100% of ordinary earnings to shareholders—including a recent $0.41 payout—some sustainability questions remain. Shipping revenue actually declined year-over-year in 2025, primarily because the company reduced its fleet size even as rates improved. Ultimately, the liquidation by 1492 Capital seems to be a timing-based decision rather than a fundamental red flag. Future returns for the company will likely depend on how long the current elevated spot rates persist in the global oil shipping sector.