Thematics Asset Management
CIK 1956031 · View on SEC EDGAR ↗
- Portfolio value
- $2.2B
- Positions
- 125
- As of
- Sept. 30, 2025 Data as of Q3 2025
#1,418 of 9,443 by 13F value · top 15.0%
Portfolio value QoQ: -0.9% 13F does not disclose cash
- Top 10 holdings weight
- 25.69%
- Top 25 holdings weight
- 47.04%
- Positions above 1%
- 38
- Effective number of positions
- 69.5
Based on 13F long-equity holdings only (cash, bonds, shorts not disclosed)
Turnover Q3 2025: 6.46% Est. buys $143,071,514 · sells $251,325,462
Median holding: 4.0 quarters Tracked Q4 2024–Q3 2025 · 85.0% still held
- New positions
- 4
- Increased
- 43
- Decreased
- 55
- Closed
- 5
On this page
- Performance vs S&P How this manager's 13F portfolio performed against the S&P 500.
- Sector breakdown How the portfolio splits across market sectors.
- Portfolio Every stock this institution reports holding, from its latest 13F.
- High-conviction bets The holdings this manager is most concentrated in.
- Biggest new bets Brand-new positions opened in the latest quarter.
- Top moves The biggest position increases and decreases this quarter.
- Exited positions Positions the manager fully sold out of last quarter.
Performance vs S&P 500
Annualized: +16.3% · S&P 500: +18.3%
Approximates a buy-and-hold portfolio built from quarterly SEC 13F snapshots. Excludes cash, short positions, options/derivatives, and non-13(f) securities — reflects the disclosed long-equity book only, not total fund AUM. SEC filing lag is up to 45 days; this is not a real-time-copyable timing.
Priceable coverage: 98.4% · Options excluded: 0.0%
Sector breakdown
Technology
41.7%
Industrials
27.7%
Health Care
14.7%
Real Estate
2.7%
Communication Services
2.6%
Financial Services
2.5%
Utilities
2.2%
Materials
1.7%
Communications
1.3%
Consumer Discretionary
1.3%
Retail
0.8%
Telecommunication
0.7%
Consumer products
0.2%
Full portfolio 125 positions
| Type | Streak | 8Q trend | |||||
|---|---|---|---|---|---|---|---|
| NVDA NVIDIA Corporation - Common Stock | $108,418,466 | 4.92% | 581,083 | $-4,895,912 | Down ×3 | ||
| NOW ServiceNow, Inc. Common Stock | $73,215,636 | 3.32% | 79,558 | $-2,372,918 | Up ×1 | ||
| SNPS Synopsys, Inc. - Common Stock | $70,325,344 | 3.19% | 142,535 | $-8,791,434 | Down ×2 | ||
| CDNS Cadence Design Systems, Inc. - Common Stock | $51,622,926 | 2.34% | 146,965 | $945,810 | Down ×2 | ||
| SNOW Snowflake Inc. Common Stock | $44,943,093 | 2.04% | 199,260 | $354,683 | |||
| CLH Clean Harbors, Inc. Common Stock | $44,655,906 | 2.03% | 192,300 | $538,208 | Up ×3 | ||
| ESTC Elastic N.V. Ordinary Shares | $44,212,181 | 2.01% | 523,283 | $4,160,744 | Up ×3 | ||
| GOOGL Alphabet Inc. - Class A Common Stock | $43,957,099 | 1.99% | 180,819 | $5,960,677 | Down ×3 | ||
| PTC PTC Inc. - Common Stock | $42,879,245 | 1.95% | 211,207 | $9,765,493 | Up ×1 | ||
| NVT nVent Electric plc Ordinary Shares | $41,909,473 | 1.90% | 424,873 | $-1,851,249 | Down ×3 | ||
| VRT Vertiv Holdings, LLC Class A Common Stock | $40,110,506 | 1.82% | 265,879 | $2,421,657 | Down ×2 | ||
| ECL Ecolab Inc. Common Stock | $36,936,320 | 1.68% | 134,873 | $-4,229,262 | Down ×1 | ||
| ISRG Intuitive Surgical, Inc. - Common Stock | $34,854,870 | 1.58% | 77,935 | $-4,280,975 | Up ×1 | ||
| MSFT Microsoft Corporation - Common Stock | $34,553,480 | 1.57% | 66,712 | $8,142,999 | Up ×2 | ||
| CRWD CrowdStrike Holdings, Inc. - Class A Common Stock | $32,709,327 | 1.48% | 66,702 | $6,169,183 | Up ×1 | ||
| MDB MongoDB, Inc. - Class A Common Stock | $32,466,058 | 1.47% | 104,601 | $8,776,456 | Down ×1 | ||
| HOLX Hologic, Inc. - Common Stock | $31,467,550 | 1.43% | 466,255 | $1,122,799 | Up ×1 | ||
| TMO Thermo Fisher Scientific Inc Common Stock | $29,335,950 | 1.33% | 60,484 | $8,318,120 | Up ×3 | ||
| JBTM JBT Marel Corporation Common Stock | $29,291,128 | 1.33% | 208,552 | $4,210,664 | |||
| MSI Motorola Solutions, Inc. Common Stock | $29,232,721 | 1.33% | 63,926 | $2,121,460 | Down ×1 | ||
| STE STERIS plc (Ireland) Ordinary Shares | $28,390,276 | 1.29% | 114,736 | $1,185,601 | Up ×1 | ||
| AVGO Broadcom Inc. - Common Stock | $28,316,505 | 1.29% | 85,831 | $7,961,958 | Up ×2 | ||
| ZS Zscaler, Inc. - Common Stock | $28,199,205 | 1.28% | 94,104 | $-3,617,672 | Down ×3 | ||
| BSY Bentley Systems, Incorporated - Class B Common Stock | $27,360,745 | 1.24% | 531,483 | $-1,323,393 | |||
| EQIX Equinix, Inc. - Common Stock | $27,086,006 | 1.23% | 34,582 | $-1,037,040 | Down ×1 | ||
| OSIS OSI Systems, Inc. - Common Stock | $26,521,878 | 1.20% | 106,411 | $1,206,465 | Down ×3 | ||
| ROL Rollins, Inc. Common Stock | $26,433,294 | 1.20% | 450,005 | $1,255,813 | Up ×1 | ||
| DLR Digital Realty Trust, Inc. Common Stock | $26,175,415 | 1.19% | 151,408 | $-50,616 | Up ×1 | ||
| APG APi Group Corporation Common Stock | $25,590,837 | 1.16% | 744,569 | $7,194,409 | Up ×1 | ||
| AMD Advanced Micro Devices, Inc. - Common Stock | $25,217,722 | 1.14% | 155,867 | $-14,460,782 | Down ×1 | ||
| VRNS Varonis Systems, Inc. - Common Stock | $24,982,037 | 1.13% | 434,697 | $985,001 | Down ×2 | ||
| DXCM DexCom, Inc. - Common Stock | $24,378,763 | 1.11% | 362,294 | $-5,097,848 | Up ×3 | ||
| KLAC KLA Corporation - Common Stock | $23,662,327 | 1.07% | 21,938 | $-4,073,366 | Down ×3 | ||
| PANW Palo Alto Networks, Inc. - Common Stock | $22,879,558 | 1.04% | 112,364 | $1,983,768 | Up ×1 | ||
| APTV Aptiv PLC Ordinary Shares | $22,542,564 | 1.02% | 261,454 | $11,172,200 | Up ×1 | ||
| CNM Core & Main, Inc. Class A Common Stock | $22,500,940 | 1.02% | 418,000 | $533,540 | Up ×1 | ||
| PRCT PROCEPT BioRobotics Corporation - Common Stock | $22,486,592 | 1.02% | 630,053 | $-248,646 | Up ×3 | ||
| MANH Manhattan Associates, Inc. - Common Stock | $22,391,605 | 1.02% | 109,238 | $820,377 | |||
| WCN Waste Connections, Inc. Common Shares | $20,826,850 | 0.95% | 118,469 | $200,078 | Up ×1 | ||
| SPSC SPS Commerce, Inc. - Common Stock | $20,506,624 | 0.93% | 196,914 | $-3,334,983 | Up ×1 | ||
| S SentinelOne, Inc. Class A Common Stock | $20,405,588 | 0.93% | 1,158,750 | $1,585,195 | Up ×2 | ||
| WMS Advanced Drainage Systems, Inc. Common Stock | $20,180,850 | 0.92% | 145,500 | $2,894,420 | Down ×1 | ||
| CLBT Cellebrite DI Ltd. - Ordinary Shares | $19,768,731 | 0.90% | 1,066,850 | $5,849,915 | Up ×1 | ||
| WAB Westinghouse Air Brake Technologies Corporation Common Stock | $18,872,446 | 0.86% | 94,141 | $-6,527,571 | Down ×3 | ||
| TYL Tyler Technologies, Inc. Common Stock | $18,399,537 | 0.84% | 35,170 | $-4,708,181 | Down ×1 | ||
| ROP Roper Technologies, Inc. - Common Stock | $18,361,766 | 0.83% | 36,820 | $-2,509,283 | |||
| AXON Axon Enterprise, Inc. - Common Stock | $18,348,620 | 0.83% | 25,568 | $-4,081,930 | Down ×2 | ||
| ADSK Autodesk, Inc. - Common Stock | $18,229,811 | 0.83% | 57,386 | $171,974 | Down ×1 | ||
| DHR Danaher Corporation Common Stock | $18,180,839 | 0.83% | 91,702 | $1,448,806 | Up ×3 | ||
| MDT Medtronic plc. Ordinary Shares | $17,609,781 | 0.80% | 184,899 | $1,492,135 | |||
| IEX IDEX Corporation Common Stock | $17,603,145 | 0.80% | 108,154 | $545,817 | Up ×2 | ||
| WTRG Essential Utilities, Inc. Common Stock | $16,467,767 | 0.75% | 412,726 | $1,139,123 | |||
| FROG JFrog Ltd. - Ordinary shares | $16,411,157 | 0.74% | 346,739 | Up ×1 | |||
| XYL Xylem Inc. Common Stock New | $16,132,518 | 0.73% | 109,373 | $-512,104 | Down ×1 | ||
| ZBRA Zebra Technologies Corporation - Class A Common Stock | $15,805,346 | 0.72% | 53,188 | Up ×1 | |||
| CYRX CryoPort, Inc. - Common Stock | $15,534,146 | 0.70% | 1,638,623 | $1,249,104 | Down ×1 | ||
| FERG Ferguson Enterprises Inc. Common Stock | $15,452,002 | 0.70% | 68,804 | $-836,569 | Down ×1 | ||
| FOUR Shift4 Payments, Inc. Class A Common Stock | $15,198,806 | 0.69% | 196,367 | $-4,073,827 | Up ×1 | ||
| LFUS Littelfuse, Inc. - Common Stock | $15,101,060 | 0.69% | 58,303 | $713,228 | Down ×3 | ||
| MSA MSA Safety Incorporated Common Stock | $14,958,905 | 0.68% | 86,935 | $-1,844,354 | Down ×3 | ||
| ACM AECOM Common Stock | $14,623,208 | 0.66% | 112,081 | $1,296,586 | Down ×1 | ||
| VLTO Veralto Corp Common Stock | $13,846,720 | 0.63% | 129,882 | $735,132 | |||
| SYM Symbotic Inc. - Class A Common Stock | $13,769,564 | 0.62% | 255,465 | $-9,986,978 | Down ×3 | ||
| AIT Applied Industrial Technologies, Inc. Common Stock | $13,401,002 | 0.61% | 51,335 | $1,468,181 | |||
| PNR Pentair plc. Ordinary Share | $13,206,690 | 0.60% | 119,237 | $965,820 | |||
| WM Waste Management, Inc. Common Stock | $13,117,964 | 0.60% | 59,403 | $-474,630 | |||
| GNRC Generac Holdlings Inc. Common Stock | $13,014,011 | 0.59% | 77,742 | $3,485,963 | Up ×2 | ||
| FISV Fiserv, Inc. - Common Stock | $12,394,686 | 0.56% | 96,135 | $-8,957,430 | Down ×1 | ||
| FBIN Fortune Brands Innovations, Inc. Common Stock | $12,286,961 | 0.56% | 230,136 | Up ×1 | |||
| TRU TransUnion Common Stock | $12,124,809 | 0.55% | 144,722 | $146,337 | Up ×1 | ||
| AWK American Water Works Company, Inc. Common Stock | $11,934,429 | 0.54% | 85,742 | $6,859 | |||
| TTEK Tetra Tech, Inc. - Common Stock | $11,541,135 | 0.52% | 345,750 | $186,765 | Up ×2 | ||
| A Agilent Technologies, Inc. Common Stock | $11,507,476 | 0.52% | 89,657 | $927,053 | |||
| AOS A.O. Smith Corporation Common Stock | $10,791,270 | 0.49% | 147,000 | $1,152,480 | |||
| MOD Modine Manufacturing Company Common Stock | $9,524,720 | 0.43% | 67,000 | $2,137,220 | Down ×1 | ||
| HQY HealthEquity, Inc. - Common Stock | $9,405,164 | 0.43% | 99,242 | $-1,281,299 | Down ×2 | ||
| ZWS Zurn Elkay Water Solutions Corporation Common Stock | $9,277,937 | 0.42% | 197,277 | $2,063,517 | |||
| MSEX Middlesex Water Company - Common Stock | $9,254,520 | 0.42% | 171,000 | $-10,260 | |||
| CTAS Cintas Corporation - Common Stock | $9,236,084 | 0.42% | 44,997 | $-4,906,800 | Down ×1 | ||
| ARGX argenx SE - American Depositary Shares | $8,537,995 | 0.39% | 11,576 | $2,157,072 | |||
| NDAQ Nasdaq, Inc. - Common Stock | $8,452,901 | 0.38% | 95,567 | $-496,074 | Down ×3 | ||
| BSX Boston Scientific Corporation Common Stock | $8,137,070 | 0.37% | 83,346 | $-34,468 | Up ×1 | ||
| INTU Intuit Inc. - Common Stock | $7,735,322 | 0.35% | 11,327 | $-189,811 | Up ×1 | ||
| SPGI S&P Global Inc. Common Stock | $7,538,164 | 0.34% | 15,488 | $-1,016,062 | Down ×1 | ||
| MSCI MSCI Inc. Common Stock | $7,229,938 | 0.33% | 12,742 | $-467,234 | Down ×3 | ||
| RPD Rapid7, Inc. - Common Stock | $7,063,838 | 0.32% | 376,738 | $-1,979,483 | Down ×1 | ||
| HUBS HubSpot, Inc. Common Stock | $6,807,893 | 0.31% | 14,553 | $-855,789 | Up ×3 | ||
| CSGP CoStar Group, Inc. - Common Stock | $6,742,429 | 0.31% | 79,915 | $-559,821 | Down ×3 | ||
| LLY Eli Lilly and Company Common Stock | $6,603,765 | 0.30% | 8,655 | $-143,067 | |||
| COST Costco Wholesale Corporation - Common Stock | $6,459,046 | 0.29% | 6,978 | $-789,295 | Down ×2 | ||
| HTO H2O America - Common Stock | $6,440,380 | 0.29% | 132,246 | $918,775 | Up ×2 | ||
| TMUS T-Mobile US, Inc. - Common Stock | $6,373,493 | 0.29% | 26,625 | $-283,253 | Down ×1 | ||
| ADBE Adobe Inc. - Common Stock | $6,313,872 | 0.29% | 17,899 | $-939,354 | Down ×2 | ||
| LH Labcorp Holdings Inc. Common Stock | $6,160,021 | 0.28% | 21,459 | $905,883 | Up ×2 | ||
| MAS Masco Corporation Common Stock | $5,878,762 | 0.27% | 83,517 | $-1,362,832 | Down ×1 | ||
| SYK Stryker Corporation Common Stock | $5,552,813 | 0.25% | 15,021 | $554,819 | Up ×1 | ||
| PLNT Planet Fitness, Inc. Common Stock | $5,447,735 | 0.25% | 52,483 | $-714,353 | Down ×3 | ||
| BJ BJ's Wholesale Club Holdings, Inc. Common Stock | $5,357,492 | 0.24% | 57,453 | $160,949 | Up ×1 | ||
| ALC Alcon Inc. Ordinary Shares | $5,308,763 | 0.24% | 71,249 | $-981,099 | |||
| VRTX Vertex Pharmaceuticals Incorporated - Common Stock | $4,946,022 | 0.22% | 12,629 | $227,792 | Up ×3 | ||
| No matches | |||||||
Conviction holdings
Positions increased for 3+ consecutive quarters.
Share counts are as reported in 13F filings (not split-adjusted)
Biggest new bets
New positions opened this quarter, largest first.
Top movers (QoQ)
Exited positions
Includes corporate events (mergers, delistings) — not all exits are sells
Closed positions reflect 13F reporting changes; for index managers these are often mechanical (delisting, M&A, index rebalancing), not active decisions.
| Security | Quarter | Shares before | Value before | Price since exit |
|---|---|---|---|---|
| ANSS | March 31, 2025 | 141,790 | $47,830,021 | No longer tracked |
| ALTR | March 31, 2025 | 341,939 | $37,308,964 | No longer tracked |
| CYBR | Sept. 30, 2025 | 81,875 | $33,313,300 | No longer tracked |
| TER | March 31, 2025 | 146,103 | $18,397,290 | 357.9% |
| AVTR | March 31, 2025 | 740,000 | $15,591,800 | -12.3% |
| GPN | March 31, 2025 | 135,000 | $15,128,100 | -5.5% |
| OKTA | Sept. 30, 2025 | 129,977 | $12,993,801 | 49.4% |
| ROK | June 30, 2025 | 47,335 | $12,230,417 | 30.8% |
| GNTX | June 30, 2025 | 406,120 | $9,462,596 | 7.1% |
| EXPO | March 31, 2025 | 103,000 | $9,177,300 | -13.7% |
| ZTS | March 31, 2025 | 35,354 | $5,760,227 | -54.0% |
| GDDY | Sept. 30, 2025 | 26,474 | $4,766,908 | -28.5% |
| TSCO | March 31, 2025 | 82,380 | $4,371,083 | -36.6% |
| PG | March 31, 2025 | 25,607 | $4,293,014 | -15.3% |
| IT | Sept. 30, 2025 | 10,352 | $4,184,485 | -26.0% |
| SHCO | Sept. 30, 2025 | 548,754 | $4,033,342 | No longer tracked |
| FDS | March 31, 2025 | 8,032 | $3,857,609 | -34.0% |
| BPMC | June 30, 2025 | 37,601 | $3,328,065 | No longer tracked |
| CMG | March 31, 2025 | 45,475 | $2,742,143 | -31.7% |
| YETI | March 31, 2025 | 61,422 | $2,365,361 | 31.1% |
| IDXX | March 31, 2025 | 4,192 | $1,733,140 | 34.0% |
| SG | June 30, 2025 | 40,389 | $1,010,533 | -55.3% |