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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
SPY icon
1
State Street SPDR S&P 500 ETF Trust
SPY
$778B
$39.2M 22.49%
58,776
+4,895
+9% +$3.14M
IGIB icon
2
iShares 5-10 Year Investment Grade Corporate Bond ETF
IGIB
$18.3B
$36.8M 21.16%
681,054
+66,427
+11% +$3.55M
IVE icon
3
iShares S&P 500 Value ETF
IVE
$48.9B
$19.1M 11%
92,717
+8,596
+10% +$1.73M
XLK icon
4
State Street Technology Select Sector SPDR ETF
XLK
$115B
$12M 6.91%
85,358
-1,798
-2% -$238K
IWO icon
5
iShares Russell 2000 Growth ETF
IWO
$14.5B
$10.9M 6.24%
33,937
-1,409
-4% -$425K
HACK icon
6
Amplify Cybersecurity ETF
HACK
$2.63B
$6.54M 3.75%
75,290
-1,274
-2% -$108K
JPC icon
7
Nuveen Preferred & Income Opportunities Fund
JPC
$2.89B
$3.56M 2.04%
433,571
-12,519
-3% -$102K
AAPL icon
8
Apple
AAPL
$4.89T
$3.05M 1.75%
11,978
-1,975
-14% -$446K
MSFT icon
9
Microsoft
MSFT
$2.84T
$2.25M 1.29%
4,349
-213
-5% -$109K
NVDA icon
10
NVIDIA
NVDA
$5.01T
$2.25M 1.29%
12,073
-416
-3% -$72.5K
AMZN icon
11
Amazon
AMZN
$2.5T
$2.1M 1.21%
9,579
-23
-0.2% -$5.21K
ORCL icon
12
Oracle
ORCL
$331B
$1.6M 0.92%
5,705
+60
+1% +$15.3K
QQQ icon
13
Invesco QQQ Trust
QQQ
$455B
$1.53M 0.88%
2,551
-1
-0% -$573
NET icon
14
Cloudflare
NET
$93B
$1.43M 0.82%
6,641
-225
-3% -$45.9K
META icon
15
Meta Platforms (Facebook)
META
$1.51T
$1.39M 0.8%
1,895
+27
+1% +$20.1K
GOOGL icon
16
Alphabet (Google) Class A
GOOGL
$3.91T
$1.29M 0.74%
5,289
-605
-10% -$127K
IBM icon
17
IBM
IBM
$202B
$1.28M 0.73%
4,522
-349
-7% -$91.4K
TSLA icon
18
Tesla
TSLA
$1.24T
$1.24M 0.71%
2,789
+58
+2% +$20.1K
DIS icon
19
Walt Disney
DIS
$165B
$1.06M 0.61%
9,272
-82
-0.9% -$9.66K
JEF icon
20
Jefferies Financial Group
JEF
$12.9B
$1.02M 0.58%
15,524
+834
+6% +$50.9K
AEP icon
21
American Electric Power
AEP
$73.7B
$966K 0.55%
8,582
+370
+5% +$40.5K
ETN icon
22
Eaton
ETN
$157B
$960K 0.55%
2,565
+6
+0.2% +$2.18K
DKNG icon
23
DraftKings
DKNG
$11.4B
$937K 0.54%
25,062
-202
-0.8% -$8.96K
BRK.B icon
24
Berkshire Hathaway Class B
BRK.B
$1.07T
$887K 0.51%
1,765
+75
+4% +$36.3K
PLTR icon
25
Palantir
PLTR
$295B
$887K 0.51%
4,863
+236
+5% +$38.2K
1
2 3

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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.