TA
Thematics Asset Management Historical SEC 13F Holdings & Archive (Q3 2025)
Thematics Asset ManagementCIK: 0001956031
Diversified strategySector-focusedMomentum follower
Total reported value
$2.2B
Reporting period: 2025-09-30 · Number of holdings: 125
Thematics Asset Management disclosed 125 holdings in its latest 13F filing for the period ending 2025-09-30, with total reported value of $2.2B and a quarterly turnover rate of 25.5%.
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Personality snowflake
- Concentration
- 5.76
- Portfolio Stability
- 25.49
- Momentum
- 100
- Sector conviction
- 100
- Diversification
- 100
- Sizing Uniformity
- 91.03
Thematics Asset Management's disclosed holdings carry a Herfindahl concentration index of 0.014 — mathematically equivalent to about 69 equally-sized positions, well below its 125 actual disclosed holdings. That gap points to a strategy built around a small core of high-conviction bets rather than broad diversification.
Position sizes are fairly uniform across the portfolio (a coefficient of variation of 0.90), suggesting a disciplined, rules-based approach to how much capital goes into each idea.
No strong tilt toward either adding to existing winners or initiating outsized new positions was observed in the latest reported quarter.
Sector classification currently covers about 32% of this portfolio's disclosed value; the remainder includes holdings (e.g. unmapped tickers, options, or other security types) not yet covered by our sector mapping.
Source and citation information
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Recent moves
View source Form 13F filing on SEC.govAdd MSFT
+25.6% $28.4M
Add AVGO
+16.2% $21.9M
Add VRT
-9.4% $18.4M
Add MDB
-7.3% $12.7M
Trim MTD
-64.3% -$8.1M
Trim STE
+1.3% -$5.6M
Holdings Map
New buyAddUnchangedTrim
Top 10 holdings by weight
Full holdings list this quarter
| # | Ticker | Issuer | Asset Subclass | Weight | Weight Change | Shares Change | 4Q Trend |
|---|---|---|---|---|---|---|---|
| 1 | NVDA | Nvidia CORP | Stock-Tech | 4.92% | -0.05% | -18.98% | |
| 2 | NOW | Servicenow Inc | Stock-Tech | 3.32% | +0.17% | +8.21% | |
| 3 | SNPS | Synopsys Inc | Stock-Tech | 3.19% | -0.16% | -7.64% | |
| 4 | CDNS | Cadence Design Sys Inc | Stock-Tech | 2.34% | -0.01% | -10.64% | |
| 5 | SNOW | Snowflake Inc | Stock-Tech | 2.04% | — | — | |
| 6 | CLH | Clean Harbors Inc | Stock-Industrials | 2.03% | +0.24% | +0.77% | |
| 7 | VOO | Vanguard S&P 500 ETF | ETF-Large Cap & Growth | 2.01% | +0.10% | +10.18% | |
| 8 | GOOGL | Alphabet Inc-cl A | Stock-Comm Services | 1.99% | +0.10% | -16.13% | |
| 9 | PTC | Ptc Inc | Stock-Tech | 1.95% | +0.34% | +9.92% | |
| 10 | NVT | nVent Electric plc | Stock-Industrials | 1.90% | +0.04% | -28.88% | |
| 11 | VRT | Vertiv Holdings Co-a | Stock-Industrials | 1.82% | +0.72% | -9.41% | |
| 12 | ECL | Ecolab Inc | Stock-Materials | 1.68% | — | -11.72% | |
| 13 | ISRG | Intuitive Surgical Inc | Stock-Healthcare | 1.58% | — | +8.21% | |
| 14 | MSFT | Microsoft CORP | Stock-Tech | 1.57% | +1.26% | +25.64% | |
| 15 | CRWD | Crowdstrike Holdings Inc - A | Stock-Tech | 1.48% | -0.40% | +28.00% | |
| 16 | MDB | Mongodb Inc | Stock-Tech | 1.47% | +0.47% | -7.28% | |
| 17 | HO1 | Hologic Inc | Stock-Other | 1.43% | — | +0.12% | |
| 18 | TMO | Thermo Fisher Scientific Inc | Stock-Healthcare | 1.33% | +0.05% | +16.68% | |
| 19 | JBTM | Jbt Marel CORP | Stock-Industrials | 1.33% | +0.04% | — | |
| 20 | MSI | Motorola Solutions Inc | Stock-Tech | 1.33% | — | -0.86% | |
| 21 | STE | STERIS plc | Stock-Healthcare | 1.29% | -0.43% | +1.31% | |
| 22 | AVGO | Broadcom Inc | Stock-Tech | 1.29% | +0.96% | +16.24% | |
| 23 | ZS | Zscaler Inc | Stock-Tech | 1.28% | — | -7.15% | |
| 24 | BSY | Bentley Systems Inc-class B | Stock-Tech | 1.24% | +0.18% | — | |
| 25 | EQIX | Equinix Inc | Stock-Real Estate | 1.23% | — | -2.18% | |
| 26 | OSIS | Osi Systems Inc | Stock-Tech | 1.20% | — | -5.48% | |
| 27 | ROL | Rollins Inc | Stock-Consumer Disc | 1.20% | — | +0.84% | |
| 28 | DLR | Digital Realty Trust Inc | Stock-Real Estate | 1.19% | — | +0.64% | |
| 29 | APG | Api Group CORP | Stock-Industrials | 1.16% | — | +37.74% | |
| 30 | AMD | Advanced Micro Devices | Stock-Tech | 1.14% | -0.31% | -44.26% | |
| 31 | VRNS | Varonis Systems Inc | Stock-Tech | 1.13% | +0.11% | -8.07% | |
| 32 | DXCM | Dexcom Inc | Stock-Healthcare | 1.11% | — | +7.29% | |
| 33 | KLAC | Kla CORP | Stock-Tech | 1.07% | — | -29.15% | |
| 34 | PANW | Palo Alto Networks Inc | Stock-Tech | 1.04% | +0.13% | +10.04% | |
| 35 | APTV | Aptiv PLC | Stock-Consumer Disc | 1.02% | +1.02% | NEW | |
| 36 | CNM | Core & Main Inc-class A | Stock-Industrials | 1.02% | +0.07% | +14.84% | |
| 37 | PRCT | Procept Biorobotics CORP | Stock-Other | 1.02% | +0.35% | +59.62% | |
| 38 | MANH | Manhattan Associates Inc | Stock-Tech | 1.02% | +0.06% | — | |
| 39 | WCN | Waste Connections Inc | Stock-Industrials | 0.95% | — | +7.24% | |
| 40 | SPSC | Sps Commerce Inc | Stock-Tech | 0.93% | — | +12.40% | |
| 41 | S | Sentinelone Inc -class A | Stock-Tech | 0.93% | — | +12.55% | |
| 42 | WMS | Advanced Drainage Systems In | Stock-Industrials | 0.92% | +0.38% | -3.32% | |
| 43 | CLBT | Cellebrite DI Ltd. | Stock-Other | 0.90% | +0.90% | NEW | |
| 44 | WAB | Wabtec CORP | Stock-Industrials | 0.86% | -0.33% | -22.41% | |
| 45 | TYL | Tyler Technologies Inc | Stock-Tech | 0.84% | — | -9.77% | |
| 46 | ROP | Roper Technologies Inc | Stock-Tech | 0.83% | — | — | |
| 47 | AXON | Axon Enterprise Inc | Stock-Industrials | 0.83% | — | -5.63% | |
| 48 | ADSK | Autodesk Inc | Stock-Tech | 0.83% | — | -1.62% | |
| 49 | DHR | Danaher CORP | Stock-Healthcare | 0.83% | — | +8.26% | |
| 50 | MDT | Medtronic plc | Stock-Healthcare | 0.80% | — | — |
1–50 of 125
Portfolio Performance
Performance for Q3 2026
+4.1%
Performance Last 4 Quarters
+10.3%
- Stdev
- +15.8%
- Beta
- +1.15
- Alpha
- -9%
- Max Drawdown
- -13.5%
- Annualized Perf
- +13.5%
- Batting Avg vs S&P
- +36.1%
- Sortino
- +1.58
- Stutzer
- +0.26
- Treynor
- +0.12
- Sterling
- +0.69
- Calmar
- +1
- Information Ratio
- -1.04
- Tracking Error
- +5.9%
- Stdev Down
- +8.8%
- Winning Months %
- +63.9%
- Losing Months %
- +36.1%
- Best 12 Months
- +30.7%
- Worst 12 Months
- -5.1%
- Efficiency Ratio
- +0.35
- Sharpe
- +0.88
- Stdev Sectors
- +19.9%
- Skewness
- +0.09
- Kurtosis
- -0.54
- Upside Potential
- +3.31
Reported value over time
Sector allocation
Sector allocation over time
Quarterly history
Holding changes this quarter
Thematics Asset Management's most significant position changes for 2025-09-30: Sold out: Cyberark Software LTD. Cmn; New buy: Aptiv PLC (APTV); New buy: Cellebrite DI Ltd. (CLBT); New buy: JFrog Ltd. (FROG); New buy: Zebra Technologies Corp-cl A (ZBRA).
| # | Ticker | Issuer | Weight Change | Shares Change | Action |
|---|---|---|---|---|---|
| 1 | MSFT | Microsoft CORP | +1.3% | +25.64% | Add |
| 2 | AVGO | Broadcom Inc | +1% | +16.24% | Add |
| 3 | VRT | Vertiv Holdings Co-a | +0.7% | -9.41% | Trim |
| 4 | MDB | Mongodb Inc | +0.5% | -7.28% | Trim |
| 5 | WMS | Advanced Drainage Systems In | +0.4% | -3.32% | Add |
| 6 | PRCT | Procept Biorobotics CORP | +0.4% | +59.62% | Add |
| 7 | PTC | Ptc Inc | +0.3% | +9.92% | Add |
| 8 | MOD | Modine Manufacturing Co | +0.3% | -10.67% | Add |
| 9 | CLH | Clean Harbors Inc | +0.2% | +0.77% | Add |
| 10 | TTEK | Tetra Tech Inc | +0.2% | +9.50% | Add |
| 11 | ACM | Aecom | +0.2% | -5.08% | Add |
| 12 | BSY | Bentley Systems Inc-class B | +0.2% | — | Unchanged |
| 13 | CYRX | Cryoport Inc | +0.2% | -14.43% | Trim |
| 14 | NOW | Servicenow Inc | +0.2% | +8.21% | Add |
| 15 | GNRC | Generac Holdings Inc | +0.2% | +16.85% | Add |
| 16 | AIT | Applied Industrial Tech Inc | +0.2% | — | Add |
| 17 | ZWS | Zurn Elkay Water Solutions C | +0.1% | — | Add |
| 18 | PANW | Palo Alto Networks Inc | +0.1% | +10.04% | Add |
| 19 | VRNS | Varonis Systems Inc | +0.1% | -8.07% | Trim |
| 20 | GOOGL | Alphabet Inc-cl A | +0.1% | -16.13% | Trim |
| 21 | VOO | Vanguard S&P 500 ETF | +0.1% | +10.18% | Add |
| 22 | FERG | Ferguson Enterprises Inc | +0.1% | -8.02% | Trim |
| 23 | CNM | Core & Main Inc-class A | +0.1% | +14.84% | Add |
| 24 | MANH | Manhattan Associates Inc | +0.1% | — | Unchanged |
| 25 | TMO | Thermo Fisher Scientific Inc | +0.1% | +16.68% | Add |
| 26 | NVT | nVent Electric plc | 0% | -28.88% | Trim |
| 27 | JBTM | Jbt Marel CORP | 0% | — | Unchanged |
| 28 | CDNS | Cadence Design Sys Inc | 0% | -10.64% | Trim |
| 29 | NVDA | Nvidia CORP | -0.1% | -18.98% | Trim |
| 30 | SNPS | Synopsys Inc | -0.2% | -7.64% | Trim |
| 31 | CTAS | Cintas CORP | -0.2% | -29.09% | Trim |
| 32 | AMD | Advanced Micro Devices | -0.3% | -44.26% | Trim |
| 33 | WAB | Wabtec CORP | -0.3% | -22.41% | Trim |
| 34 | CRWD | Crowdstrike Holdings Inc - A | -0.4% | +28.00% | Trim |
| 35 | GRMN | Garmin Ltd. | -0.4% | -70.71% | Trim |
| 36 | MTD | Mettler-toledo International | -0.4% | -64.31% | Trim |
| 37 | STE | STERIS plc | -0.4% | +1.31% | Trim |
| 38 | ✓ | Cyberark Software LTD. Cmn | — | EXIT | Sold out |
| 39 | APTV | Aptiv PLC | — | NEW | New buy |
| 40 | CLBT | Cellebrite DI Ltd. | — | NEW | New buy |
| 41 | FROG | JFrog Ltd. | — | NEW | New buy |
| 42 | ZBRA | Zebra Technologies Corp-cl A | — | NEW | New buy |
| 43 | OKTA | Okta Inc | — | EXIT | Sold out |
| 44 | FBIN | Fortune Brands Innovations I | — | NEW | New buy |
| 45 | ROK | Rockwell Automation Inc | — | EXIT | Sold out |
| 46 | GNTX | Gentex CORP | — | EXIT | Sold out |
| 47 | ARGX | Argenx Se - Adr | — | NEW | New buy |
| 48 | GDDY | Godaddy Inc - Class A | — | EXIT | Sold out |
| 49 | IT | Gartner Inc | — | EXIT | Sold out |
| 50 | UNIT | Uniti Group Inc | — | NEW | New buy |
Filing History
FAQ
What is Thematics Asset Management and what type of investor is it?
Thematics Asset Management is an investment manager that files SEC Form 13F quarterly, disclosing its U.S. public equity holdings to regulators. As of the most recent reporting period (2025-09-30), the firm manages a tracked equity portfolio valued at approximately $2.2B, spread across 125 disclosed positions.
What are Thematics Asset Management's largest equity positions?
Based on the latest 13F filing, Thematics Asset Management's top holdings by market value are:
1. Nvidia CORP (NVDA) — $108.4M (4.9%)
2. Servicenow Inc (NOW) — $73.2M (3.3%)
3. Synopsys Inc (SNPS) — $70.3M (3.2%)
4. Cadence Design Sys Inc (CDNS) — $51.6M (2.3%)
5. Snowflake Inc (SNOW) — $44.9M (2.0%)
What changes did Thematics Asset Management make in its most recent portfolio filing?
In the latest reported quarter, Thematics Asset Management made 47 notable position adjustments: 7 new positions were initiated, 17 existing holdings were added to, 17 positions were partially reduced, and 6 were completely exited. The largest of these moves: Sold out: Cyberark Software LTD. Cmn; New buy: Aptiv PLC (APTV); New buy: Cellebrite DI Ltd. (CLBT); New buy: JFrog Ltd. (FROG); New buy: Zebra Technologies Corp-cl A (ZBRA)
What sectors does Thematics Asset Management focus on?
Thematics Asset Management is concentrated in the following sectors based on its current disclosed equity portfolio:
• Information Technology: 62.7%
• Health Care: 19.2%
• Communication Services: 9.0%
• Industrials: 5.7%
• Financials: 1.1%
• Real Estate: 0.9%
💡
Data Source Notice: AlphaSMO is the web's most authoritative 13F / Inside Trader database. Institutional holdings and insider trades presented here are precisely computed to deliver accurate portfolio reporting.
Investment Profile
Thematics Asset Management returned an annualized 13.5% over the trailing 36 months — underperforming the S&P 500 by 9.0 points — based on a reconstructed track record of its disclosed 13F positions, with a beta of 1.15 (more volatile than the market) and a 36% quarterly batting average against the index.
Its portfolio is broadly diversified and moderately active, with 62.7% of the portfolio concentrated in Information Technology.
Its turnover score has risen from 0 to 25 over the past 4 quarters — a shift toward more active trading.
It has added to its MSFT position over the past two quarters (+$28.4M, now $34.6M), while trimming MTD over the same stretch (-$8.1M, still holding $4.8M).
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Developer Access
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REST API
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