This Fund Sold a $5 Million DHT Stake Amid a 90% Stock Surge. Here's What Long-Term Investors Should Know

On April 22, 2026, 1492 Capital Management disclosed in an SEC filing that it sold out its entire position in DHT Holdings (NYSE:DHT), liquidating 333,051 shares in a trade estimated at $5.30 million based on quarterly average pricing.

What happened

According to an SEC filing dated April 22, 2026, 1492 Capital Management LLC sold all 333,051 shares of DHT Holdings in the first quarter. The estimated value of the trade was $5.30 million, calculated using the average unadjusted closing price for the quarter. The quarter-end position value fell by $4.07 million, a figure that includes both the impact of the sale and the stock’s price movement.

What else to know

• Top holdings after the filing:
  • NYSE:CRS: $11.50 million (4.4% of AUM)
  • NASDAQ:AAOI: $10.59 million (4.0% of AUM)
  • NASDAQ:ADTN: $7.86 million (3.0% of AUM)
  • NYSE:ZETA: $6.53 million (2.5% of AUM)
  • NASDAQ:LITE: $6.32 million (2.4% of AUM)
• As of April 21, 2026, DHT shares were priced at $17.99, up 90% over the past year and well outperforming the S&P 500’s roughly 35% gain in the same period.

Company overview

Company snapshot

• DHT owns and operates a fleet of very large crude carriers (VLCCs) focused on the seaborne transportation of crude oil
• It is headquartered in Hamilton, Bermuda, with primary operations in Monaco, Singapore, and Norway

DHT Holdings, Inc. owns and operates a fleet of very large crude carriers (VLCCs) focused on the seaborne transportation of crude oil. The company’s global operations and modern fleet position it as a key player in the international oil shipping market.

What this transaction means for investors

When a stock surges close to 90% in a year, it’s pretty normal to see investors lock in gains, especially in something as cyclical as tanker shipping. Plus, DHT’s run-up was fairly concentrated in recent months, perhaps lending more urgency to the move.

To be clear, DHT is printing strong numbers right now, with $66.1 million in fourth-quarter profit (up from $54.7 million one year earlier) and $95.3 million in adjusted EBITDA, while VLCC spot rates have climbed to around $69,500 per day. For the full year, net income hit $211 million, helped by both solid charter markets and gains from selling vessels. At the same time, management is still leaning in, putting money into new ships and sticking to its policy of returning 100% of ordinary earnings to shareholders, including a recent $0.41 dividend.

That’s a strong setup, but it also starts to raise questions about the rally’s sustainability. Notably, shipping revenue actually fell year over year in 2025, mainly because the fleet got smaller even as rates improved. Ultimately, however, this feels more like a timing call than a red flag. The business is still solid, but returns from here will hinge on how long these elevated rates hold.

Jonathan Ponciano has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Lumentum. The Motley Fool has a disclosure policy.