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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
SPY icon
1
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$33.3M 21.19%
53,881
+5,590
+12% +$3.2M
IGIB icon
2
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.3B
$32.8M 20.85%
614,627
+45,789
+8% +$2.39M
IVE icon
3
iShares S&P 500 Value ETF
IVE
$48.9B
$16.4M 10.46%
84,121
+13,045
+18% +$2.43M
XLK icon
4
State Street Technology Select Sector SPDR ETF
XLK
$115B
$11M 7.02%
87,156
-2,006
-2% -$223K
IWO icon
5
iShares Russell 2000 Growth ETF
IWO
$14.5B
$10.1M 6.43%
35,346
-1,881
-5% -$495K
HACK icon
6
Amplify Cybersecurity ETF
HACK
$2.63B
$6.61M 4.21%
76,564
-1,201
-2% -$93.5K
JPC icon
7
Nuveen Preferred & Income Opportunities Fund
JPC
$2.89B
$3.58M 2.28%
446,090
+2,323
+0.5% +$18K
AAPL icon
8
Apple
AAPL
$4.89T
$2.86M 1.82%
13,953
-885
-6% -$179K
MSFT icon
9
Microsoft
MSFT
$2.84T
$2.27M 1.44%
4,562
+35
+0.8% +$15.2K
AMZN icon
10
Amazon
AMZN
$2.5T
$2.11M 1.34%
9,602
-507
-5% -$100K
NVDA icon
11
NVIDIA
NVDA
$5.01T
$1.97M 1.26%
12,489
+23
+0.2% +$2.89K
IBM icon
12
IBM
IBM
$202B
$1.44M 0.91%
4,871
+3
+0.1% +$773
QQQ icon
13
Invesco QQQ Trust
QQQ
$455B
$1.41M 0.9%
2,552
-33
-1% -$16.4K
META icon
14
Meta Platforms (Facebook)
META
$1.51T
$1.38M 0.88%
1,868
+22
+1% +$13.6K
NET icon
15
Cloudflare
NET
$93B
$1.34M 0.86%
6,866
+96
+1% +$13.9K
ORCL icon
16
Oracle
ORCL
$331B
$1.23M 0.79%
5,645
+36
+0.6% +$5.81K
DIS icon
17
Walt Disney
DIS
$165B
$1.16M 0.74%
9,354
-24
-0.3% -$2.49K
DKNG icon
18
DraftKings
DKNG
$11.4B
$1.08M 0.69%
25,264
+666
+3% +$23.9K
GOOGL icon
19
Alphabet (Google) Class A
GOOGL
$3.91T
$1.04M 0.66%
5,894
-69
-1% -$11.3K
ETN icon
20
Eaton
ETN
$157B
$914K 0.58%
2,559
+27
+1% +$8.31K
WMT icon
21
Walmart Inc
WMT
$871B
$874K 0.56%
8,940
+69
+0.8% +$6.57K
TSLA icon
22
Tesla
TSLA
$1.24T
$868K 0.55%
2,731
+1
+0% +$301
AEP icon
23
American Electric Power
AEP
$73.7B
$852K 0.54%
8,212
-123
-1% -$12.8K
JPM icon
24
JPMorgan Chase
JPM
$939B
$851K 0.54%
2,933
-49
-2% -$12.5K
LLY icon
25
Eli Lilly
LLY
$1.07T
$830K 0.53%
1,065
+5
+0.5% +$3.88K
1
2 3

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EAM
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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.