Thoma Capital Management LLC — Q4 2025 13F Holdings

Name: Thoma Capital Management LLC — 13F Holdings, Q4 2025
Creator: AlphaSMO
License: https://www.sec.gov/forms

CIK: 0002060298

Total reported value

$169.1M

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Full holdings list this quarter

#	Ticker	Issuer	Asset Subclass	Weight	Weight Change	Shares Change
1	SPY	Ss Spdr S&p 500 ETF Trust-us	ETF-Large Cap & Growth	25.53%	-0.33%	+10.58%
2	IGIB	Ishares 5-10y Inv Grade CORP	ETF-Corp Bonds	19.39%	+0.71%	-8.28%
3	IVE	Ishares S&p 500 Value ETF	ETF-Large Cap & Growth	13.46%	+1.64%	+18.79%
4	XLK	Ss Technology Select Sector	ETF-Tech	5.69%	-0.47%	+60.67%
5	IWO	Ishares Russell 2000 Growth	ETF-Small Cap	4.92%	-0.44%	-22.05%
6	HACK	Amplify Cybersecurity ETF	ETF-Other	3.02%	+0.04%	-13.28%
7	IGLB	Ishares 10+ Year Inv Gr CORP	ETF-Other	2.33%	+1.03%	+573.06%
8	AAPL	Apple INC	Stock-Tech	1.77%	-0.18%	-5.74%
9	NVDA	Nvidia CORP	Stock-Tech	1.17%	-0.19%	-10.19%
10	AMZN	Amazon.com INC	Stock-Consumer Disc	1.15%	-0.08%	-9.53%
11	MSFT	Microsoft CORP	Stock-Tech	1.14%	-0.09%	-6.23%
12	GOOGL	Alphabet Inc-cl A	Stock-Comm Services	0.85%	-0.06%	-11.27%
13	QQQ	Invesco Qqq Trust Series 1	ETF-Tech	0.82%	-0.68%	-8.82%
14	JPC	Nuveen Prefered & Income Opp	Stock-Other	0.72%	-0.72%	EXIT
15	IBM	Intl Business Machines CORP	Stock-Tech	0.72%	-0.07%	-7.23%
16	TSLA	Tesla INC	Stock-Consumer Disc	0.70%	-0.11%	-3.62%
17	META	Meta Platforms Inc-class A	Stock-Comm Services	0.69%	-0.07%	-4.06%
18	NET	Cloudflare INC - Class A	Stock-Tech	0.69%	+0.06%	-9.11%
19	LLY	Eli Lilly & Co	Stock-Healthcare	0.62%	-0.04%	-6.00%
20	DIS	Walt Disney Co/the	Stock-Comm Services	0.61%	-0.11%	+1.02%
21	ORCL	Oracle CORP	Stock-Tech	0.56%	-0.13%	-12.71%
22	AEP	American Electric Power	Stock-Utilities	0.56%	+0.12%	-2.37%
23	GOOG	Alphabet Inc-cl C	Stock-Comm Services	0.56%	-0.08%	-2.44%
24	WMT	Walmart INC	Stock-Consumer Staples	0.54%	—	-0.39%
25	TROW	T Rowe Price Group INC	Stock-Financials	0.53%	—	+6.57%
26	BRK-B	Berkshire Hathaway Inc-cl B	Stock-Other	0.52%	—	+1.76%
27	PLTR	Palantir Technologies Inc-a	Stock-Tech	0.52%	-0.05%	+3.68%
28	DKNG	Draftkings Inc-cl A	Stock-Consumer Disc	0.49%	-0.16%	-2.52%
29	JPM	Jpmorgan Chase & Co	Stock-Financials	0.48%	-0.16%	-7.83%
30	GEHC	GE Healthcare Technology	Stock-Healthcare	0.47%	-0.06%	+1.39%
31	CTRA	Coterra Energy INC	Stock-Energy	0.47%	+0.15%	-2.87%
32	KO	Coca-cola Co/the	Stock-Consumer Staples	0.46%	+0.11%	+0.19%
33	BX	Blackstone INC	Stock-Financials	0.46%	-0.06%	+1.90%
34	ETN	Eaton Corporation plc	Stock-Industrials	0.45%	+0.06%	-3.43%
35	BA	Boeing Co/the	Stock-Industrials	0.44%	—	+0.83%
36	CVX	Chevron CORP	Stock-Energy	0.44%	+0.18%	+1.01%
37	HON	Honeywell International INC	Stock-Industrials	0.43%	+0.10%	+3.18%
38	MRVL	Marvell Technology INC	Stock-Tech	0.42%	+0.09%	-5.70%
39	DVN	Devon Energy CORP	Stock-Energy	0.41%	+0.19%	+0.06%
40	FANG	Diamondback Energy INC	Stock-Energy	0.40%	+0.19%	+0.48%
41	LNG	Cheniere Energy INC	Stock-Energy	0.40%	+0.22%	+1.42%
42	AMGN	Amgen INC	Stock-Healthcare	0.40%	—	-7.80%
43	DIA	Ss Spdr Dow Jones Indus Avg	ETF-Large Cap & Growth	0.38%	-0.38%	EXIT
44	AVGO	Broadcom INC	Stock-Tech	0.33%	-0.06%	-21.13%
45	VONG	Vanguard Russell 1000 Growth	ETF-Other	0.33%	-0.33%	EXIT
46	LMT	Lockheed Martin CORP	Stock-Industrials	0.28%	-0.28%	EXIT
47	DLR	Digital Realty Trust INC	Stock-Real Estate	0.25%	+0.20%	+56.93%
48	V	Visa Inc-class A Shares	Stock-Financials	0.23%	-0.06%	+18.37%
49	SGOV	Ishares 0-3 Month Treasury B	ETF-Gov Bonds	0.20%	—	—
50	ABBV	Abbvie INC	Stock-Healthcare	0.20%	—	-1.84%

1–50 of 60

Holding changes this quarter

Position changes disclosed by Thoma Capital Management LLC for the quarter ending Q4 2025, including ticker, issuer, weight change, shares change, and action
#	Ticker	Issuer	Weight Change	Shares Change	Action
1	SPY	Ss Spdr S&p 500 ETF Trust-us	+3%	+10.58%	Add
2	IVE	Ishares S&p 500 Value ETF	+2.5%	+18.79%	Add
3	IGLB	Ishares 10+ Year Inv Gr CORP	+2%	+573.06%	Add
4	LLY	Eli Lilly & Co	+0.2%	-6.00%	Trim
5	GOOG	Alphabet Inc-cl C	+0.1%	-2.44%	Trim
6	GOOGL	Alphabet Inc-cl A	+0.1%	-11.27%	Trim
7	DLR	Digital Realty Trust INC	+0.1%	+56.93%	Add
8	RTX	Rtx CORP	+0.1%	+24.21%	Add
9	GEHC	GE Healthcare Technology	+0.1%	+1.39%	Add
10	V	Visa Inc-class A Shares	0%	+18.37%	Add
11	WMT	Walmart INC	0%	-0.39%	Trim
12	CTRA	Coterra Energy INC	0%	-2.87%	Trim
13	TROW	T Rowe Price Group INC	0%	+6.57%	Add
14	AMGN	Amgen INC	0%	-7.80%	Trim
15	KO	Coca-cola Co/the	0%	+0.19%	Add
16	FANG	Diamondback Energy INC	0%	+0.48%	Add
17	DVN	Devon Energy CORP	0%	+0.06%	Add
18	DIA	Ss Spdr Dow Jones Indus Avg	0%	—	Unchanged
19	AAPL	Apple INC	0%	-5.74%	Trim
20	HON	Honeywell International INC	0%	+3.18%	Add
21	IBM	Intl Business Machines CORP	0%	-7.23%	Trim
22	TSLA	Tesla INC	0%	-3.62%	Trim
23	MRVL	Marvell Technology INC	0%	-5.70%	Trim
24	JPM	Jpmorgan Chase & Co	0%	-7.83%	Trim
25	IYW	Ishares Ustechnology ETF	0%	-13.04%	Trim
26	CAVA	Cava Group INC	0%	-19.79%	Trim
27	BX	Blackstone INC	0%	+1.90%	Add
28	AMZN	Amazon.com INC	-0.1%	-9.53%	Trim
29	QQQ	Invesco Qqq Trust Series 1	-0.1%	-8.82%	Trim
30	DKNG	Draftkings Inc-cl A	-0.1%	-2.52%	Trim
31	LNG	Cheniere Energy INC	-0.1%	+1.42%	Add
32	AVGO	Broadcom INC	-0.1%	-21.13%	Trim
33	ETN	Eaton Corporation plc	-0.1%	-3.43%	Trim
34	WSC	Willscot Holdings CORP	-0.1%	-38.43%	Trim
35	META	Meta Platforms Inc-class A	-0.1%	-4.06%	Trim
36	NET	Cloudflare INC - Class A	-0.1%	-9.11%	Trim
37	NVDA	Nvidia CORP	-0.1%	-10.19%	Trim
38	MSFT	Microsoft CORP	-0.2%	-6.23%	Trim
39	LEO	Bny Mellon Strategic Muni	-0.3%	-77.61%	Trim
40	ORCL	Oracle CORP	-0.4%	-12.71%	Trim
41	HACK	Amplify Cybersecurity ETF	-0.7%	-13.28%	Trim
42	XLK	Ss Technology Select Sector	-1.2%	+60.67%	Add
43	IWO	Ishares Russell 2000 Growth	-1.3%	-22.05%	Trim
44	JPC	Nuveen Prefered & Income Opp	-1.3%	-64.37%	Trim
45	IGIB	Ishares 5-10y Inv Grade CORP	-1.8%	-8.28%	Trim
46	JEF	Jefferies Financial Group In	—	EXIT	Sold out
47	VONG	Vanguard Russell 1000 Growth	—	NEW	New buy
48	SGOV	Ishares 0-3 Month Treasury B	—	NEW	New buy
49	PG	Procter & Gamble Co/the	—	EXIT	Sold out
50	IWP	Ishares Russell Mid-cap Grow	—	NEW	New buy