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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
+6.74%
1 Year Est. Return
+21.1%
3 Year Est. Return
–
5 Year Est. Return
–
10 Year Est. Return
–
AUM
$174M
AUM Growth
+$17M
Cap. Flow
+$6.98M
Cap. Flow %
4.01%
Top 10 Hldgs %
77.93%
Holding
60
New
2
Increased
29
Reduced
24
Closed
1

Top Buys

Rank Stock Value
1
IGIB icon
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
+$3.55M
2
SPY icon
State Street SPDR S&P 500 ETF Trust
SPY
+$3.14M
3
IVE icon
iShares S&P 500 Value ETF
IVE
+$1.73M
4
RTX icon
RTX Corp
RTX
+$231K
5
CSX icon
CSX Corp
CSX
+$198K

Top Sells

Rank Stock Value
1
AAPL icon
Apple
AAPL
+$446K
2
IWO icon
iShares Russell 2000 Growth ETF
IWO
+$425K
3
QCOM icon
Qualcomm
QCOM
+$324K
4
XLK icon
State Street Technology Select Sector SPDR ETF
XLK
+$238K
5
GOOGL icon
Alphabet (Google) Class A
GOOGL
+$127K

Sector Composition

Rank Sector Weight
1 Technology 8.17%
2 Consumer Discretionary 2.86%
3 Financials 2.79%
4 Communication Services 2.59%
5 Industrials 2.19%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JPM icon
26
JPMorgan Chase
JPM
$955B
$886K 0.51%
2,808
-125
-4% -$37.2K
BX icon
27
Blackstone
BX
$109B
$873K 0.5%
5,111
+110
+2% +$18.8K
WMT icon
28
Walmart Inc
WMT
$894B
$865K 0.5%
8,398
-542
-6% -$54K
TROW icon
29
T. Rowe Price
TROW
$24.5B
$862K 0.5%
8,399
+1,037
+14% +$109K
LNG icon
30
Cheniere Energy
LNG
$53.4B
$826K 0.47%
3,514
+120
+4% +$28.2K
LLY icon
31
Eli Lilly
LLY
$1.04T
$814K 0.47%
1,067
+2
+0.2% +$1.49K
HON icon
32
Honeywell
HON
$78.6B
$773K 0.44%
3,898
+136
+4% +$28.4K
GOOG icon
33
Alphabet (Google) Class C
GOOG
$4.4T
$768K 0.44%
3,153
-80
-2% -$16.8K
CVX icon
34
Chevron
CVX
$366B
$768K 0.44%
4,943
+86
+2% +$13.3K
MRVL icon
35
Marvell Technology
MRVL
$189B
$766K 0.44%
9,117
+378
+4% +$27.8K
KO icon
36
Coca-Cola
KO
$374B
$763K 0.44%
11,508
+401
+4% +$27.6K
BA icon
37
Boeing
BA
$190B
$753K 0.43%
3,490
+138
+4% +$31.1K
CTRA
38
DELISTED
Coterra Energy
CTRA
$752K 0.43%
31,778
+367
+1% +$8.85K
GEHC icon
39
GE HealthCare
GEHC
$31.7B
$735K 0.42%
9,782
+269
+3% +$20.1K
AVGO icon
40
Broadcom
AVGO
$1.99T
$701K 0.4%
2,125
-184
-8% -$56.4K
DVN icon
41
Devon Energy
DVN
$48.5B
$681K 0.39%
19,423
+419
+2% +$14.3K
FANG icon
42
Diamondback Energy
FANG
$52.1B
$662K 0.38%
4,623
+152
+3% +$21.6K
AMGN icon
43
Amgen
AMGN
$221B
$647K 0.37%
2,294
-223
-9% -$64.7K
LEO
44
BNY Mellon Strategic Municipals
LEO
$384M
$638K 0.37%
102,071
-17,811
-15% -$106K
DIA icon
45
State Street SPDR Dow Jones Industrial Average ETF Trust
DIA
$46.7B
$635K 0.36%
1,370
– –
IGLB icon
46
iShares 10+ Year Investment Grade Corporate Bond ETF
IGLB
$2.85B
$614K 0.35%
11,917
+1,171
+11% +$59K
LMT icon
47
Lockheed Martin
LMT
$133B
$508K 0.29%
1,018
-60
-6% -$27.2K
CAVA icon
48
CAVA Group
CAVA
$7.71B
$373K 0.21%
6,174
+127
+2% +$9.62K
WSC icon
49
WillScot Mobile Mini Holdings
WSC
$4.81B
$363K 0.21%
17,186
+148
+0.9% +$3.81K
ABBV icon
50
AbbVie
ABBV
$435B
$353K 0.2%
1,524
-233
-13% -$47.4K
1
2
3

Similar funds

IWAO
Independence Wealth Advisors (Ohio) Independence, Ohio $188M AUM
DC
Destiny Capital Golden, Colorado $188M AUM 14.43% 1-Year Est. Return
AWS
Aspen Wealth Strategies Arvada, Colorado $187M AUM 21.06% 1-Year Est. Return
SCGM
Starwood Capital Group Management Miami Beach, Florida $188M AUM 17.68% 1-Year Est. Return
CCM
Clearfield Capital Management New York $188M AUM 84.86% 1-Year Est. Return
CQWA
Chokshi & Queen Wealth Advisors San Diego, California $187M AUM 19.63% 1-Year Est. Return
AAA
American Alpha Advisors New York $188M AUM 42.65% 1-Year Est. Return
DRC
Darwins River Capital New York $187M AUM

Thoma Capital Management's Q3 2025 Portfolio in Review

As of Q3 2025, Thoma Capital Management held 60 positions worth $174M, up 11% from $157M the previous quarter. Its ten largest holdings account for 78% of the portfolio.

Thoma Capital Management deployed $6.98M of net new capital in Q3 2025, opening 2 new positions and adding to 29 existing holdings. Its largest new stake was RTX Corp: 1,487 shares worth $249K.

By sector, the portfolio is most concentrated in Technology at 8.2% of assets, down from 8.5% a quarter earlier, followed by Consumer Discretionary and Financials.

On the sell side, the largest reduction was Apple, an estimated $446K trimmed.

  • Thoma Capital Management's largest Q3 2025 buy was RTX Corp: 1,487 shares worth $249K.
  • Thoma Capital Management added most to iShares 5-10 Year Investment Grade Corporate Bond ETF in Q3 2025, an estimated $3.55M increase.
  • Thoma Capital Management's biggest Q3 2025 reduction was Apple, cutting an estimated $446K.
  • Thoma Capital Management fully exited Qualcomm in Q3 2025, selling an estimated $324K.
  • Thoma Capital Management's ten largest holdings make up 78% of its $174M portfolio in Q3 2025.
  • Thoma Capital Management opened 2 new positions and closed 1 in Q3 2025.
  • Thoma Capital Management's portfolio value rose 11% quarter-over-quarter to $174M.

Based on Thoma Capital Management's 13F filing for Q3 2025, filed 21 Oct 2025.