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TCM

Thoma Capital Management Portfolio holdings

AUM $188M
1-Year Est. Return 21.1%
This Fund
S&P 500
This Quarter Est. Return
+10.28%
1 Year Est. Return
+21.1%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$157M
AUM Growth
+$14.1M
Cap. Flow
+$1.29M
Cap. Flow %
0.82%
Top 10 Hldgs %
77.06%
Holding
60
New
1
Increased
29
Reduced
21
Closed
2

Top Buys

Rank Stock Value
1
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$3.2M
2
IVE icon
iShares S&P 500 Value ETF
IVE
+$2.43M
3
IGIB icon
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
+$2.39M
4
HD icon
Home Depot
HD
+$253K
5
CAVA icon
CAVA Group
CAVA
+$252K

Top Sells

Rank Stock Value
1
XLV icon
State Street Health Care Select Sector SPDR ETF
XLV
+$5.96M
2
IWO icon
iShares Russell 2000 Growth ETF
IWO
+$495K
3
PFE icon
Pfizer
PFE
+$370K
4
XLK icon
State Street Technology Select Sector SPDR ETF
XLK
+$223K
5
AAPL icon
Apple
AAPL
+$179K

Sector Composition

Rank Sector Weight
1 Technology 8.52%
2 Consumer Discretionary 3.07%
3 Financials 2.73%
4 Communication Services 2.64%
5 Energy 2.25%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
LNG icon
26
Cheniere Energy
LNG
$53.8B
$827K 0.53%
3,394
-65
-2% -$15.1K
HON icon
27
Honeywell
HON
$77.6B
$826K 0.53%
3,762
-20
-0.5% -$4.05K
BRK.B icon
28
Berkshire Hathaway Class B
BRK.B
$1.1T
$821K 0.52%
1,690
+58
+4% +$29.5K
JEF icon
29
Jefferies Financial Group
JEF
$12.8B
$803K 0.51%
14,690
+866
+6% +$42.9K
CTRA
30
DELISTED
Coterra Energy
CTRA
$797K 0.51%
31,411
-2,111
-6% -$53.5K
KO icon
31
Coca-Cola
KO
$374B
$786K 0.5%
11,107
+51
+0.5% +$3.63K
BX icon
32
Blackstone
BX
$107B
$748K 0.48%
5,001
+240
+5% +$33K
TROW icon
33
T. Rowe Price
TROW
$24.2B
$710K 0.45%
7,362
+800
+12% +$73.5K
LEO
34
BNY Mellon Strategic Municipals
LEO
$384M
$710K 0.45%
119,882
-1,735
-1% -$10.2K
GEHC icon
35
GE HealthCare
GEHC
$31.4B
$705K 0.45%
9,513
+10
+0.1% +$696
AMGN icon
36
Amgen
AMGN
$205B
$703K 0.45%
2,517
+35
+1% +$9.91K
BA icon
37
Boeing
BA
$184B
$702K 0.45%
3,352
-23
-0.7% -$4.34K
CVX icon
38
Chevron
CVX
$384B
$696K 0.44%
4,857
+128
+3% +$18K
MRVL icon
39
Marvell Technology
MRVL
$173B
$676K 0.43%
8,739
+590
+7% +$36.8K
AVGO icon
40
Broadcom
AVGO
$1.86T
$637K 0.41%
2,309
– –
PLTR icon
41
Palantir
PLTR
$301B
$631K 0.4%
4,627
+275
+6% +$32.3K
FANG icon
42
Diamondback Energy
FANG
$55.7B
$614K 0.39%
4,471
+70
+2% +$9.7K
DVN icon
43
Devon Energy
DVN
$51.1B
$605K 0.38%
19,004
-15
-0.1% -$478
DIA icon
44
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$45.7B
$604K 0.38%
1,370
– –
GOOG icon
45
Alphabet (Google) Class C
GOOG
$4.57T
$574K 0.37%
3,233
+1
+0% +$165
IGLB icon
46
iShares 10+ Year Investment Grade Corporate Bond ETF
IGLB
$2.83B
$540K 0.34%
10,746
-43
-0.4% -$2.1K
CAVA icon
47
CAVA Group
CAVA
$7.56B
$509K 0.32%
6,047
+2,960
+96% +$252K
LMT icon
48
Lockheed Martin
LMT
$134B
$499K 0.32%
1,078
– –
WSC icon
49
WillScot Mobile Mini Holdings
WSC
$4.65B
$467K 0.3%
17,038
-68
-0.4% -$1.81K
V icon
50
Visa
V
$684B
$348K 0.22%
981
– –
1
2
3

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BWG
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SCGM
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CCM
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EAM
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CQWA
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Thoma Capital Management's Q2 2025 Portfolio in Review

As of Q2 2025, Thoma Capital Management held 60 positions worth $157M, up 9.9% from $143M the previous quarter. Its ten largest holdings account for 77% of the portfolio.

Thoma Capital Management's Q2 2025 filing shows 1 new, 29 increased, 21 reduced and 2 closed positions. Its largest new stake was Home Depot: 698 shares worth $256K. The largest sale was State Street Health Care Select Sector SPDR ETF, an estimated $5.96M.

By sector, the portfolio is most concentrated in Technology at 8.5% of assets, up from 7.5% a quarter earlier, followed by Consumer Discretionary and Financials.

  • Thoma Capital Management's largest Q2 2025 buy was Home Depot: 698 shares worth $256K.
  • Thoma Capital Management added most to State Street SPDR S&P 500 ETF Trust in Q2 2025, an estimated $3.2M increase.
  • Thoma Capital Management's biggest Q2 2025 reduction was iShares Russell 2000 Growth ETF, cutting an estimated $495K.
  • Thoma Capital Management fully exited State Street Health Care Select Sector SPDR ETF in Q2 2025, selling an estimated $5.96M.
  • Thoma Capital Management's ten largest holdings make up 77% of its $157M portfolio in Q2 2025.
  • Thoma Capital Management opened 1 new position and closed 2 in Q2 2025.
  • Thoma Capital Management's portfolio value rose 9.9% quarter-over-quarter to $157M.

Based on Thoma Capital Management's 13F filing for Q2 2025, filed 1 Oct 2025.