Institution
Thematics Asset Management
13F for September 30, 2025, filed November 14, 2025 · SEC CIK 1956031 · Holdings history from December 31, 2022
The latest available holdings for this manager are dated September 30, 2025.
- Reported value
- $2.2bn 98% in companies we cover
- Positions we cover
- 123 Largest NVDA 4.9%
- Copy, a year
- +13.4% S&P 500 +20.4%
- Copy Sharpe ratio
- 0.53 S&P 500 1.03
Historical holdings
| Issuer | Class / type | Reported value | Quantity |
|---|---|---|---|
| STRYKER CORPORATION863667101 · SYK | Common Stock | $5.6m | 15,021 |
| SYMBOTIC INC87151X101 · SYM | Common Stock | $13.8m | 255,465 |
| SYNOPSYS INC871607107 · SNPS | Common Stock | $70.3m | 142,535 |
| T-MOBILE US INC872590104 · TMUS | Common Stock | $6.4m | 26,625 |
| TETRA TECH INC NEW88162G103 · TTEK | Common Stock | $11.5m | 345,750 |
| THERMO FISHER SCIENTIFIC INC883556102 · TMO | Common Stock | $29.3m | 60,484 |
| TOAST INC888787108 · TOST | Common Stock | $3.5m | 95,612 |
| TORO CO891092108 · TTC | Common Stock | $4.6m | 60,473 |
| TRANSUNION89400J107 · TRU | Common Stock | $12.1m | 144,722 |
| TYLER TECHNOLOGIES INC902252105 · TYL | Common Stock | $18.4m | 35,170 |
| UNITEDHEALTH GROUP INC91324P102 · UNH | Common Stock | $3.2m | 9,243 |
| UNITI GROUP LLC912932100 · UNIT | Common Stock | $3.9m | 637,271 |
| VARONIS SYS INC922280102 · VRNS | Common Stock | $25.0m | 434,697 |
| VERALTO CORP92338C103 · VLTO | Common Stock | $13.8m | 129,882 |
| VERIZON COMMUNICATIONS INC92343V104 · VZ | Common Stock | $4.6m | 105,154 |
| VERTEX PHARMACEUTICALS INC92532F100 · VRTX | Common Stock | $4.9m | 12,629 |
| VERTIV HOLDINGS CO92537N108 · VRT | Common Stock | $40.1m | 265,879 |
| WABTEC929740108 · WAB | Common Stock | $18.9m | 94,141 |
| WASTE CONNECTIONS INC94106B101 · WCN | Common Stock | $20.8m | 118,469 |
| WASTE MGMT INC DEL94106L109 · WM | Common Stock | $13.1m | 59,403 |
| WIX COM LTDM98068105 · WIX | Common Stock | $4.6m | 25,648 |
| XYLEM INC98419M100 · XYL | Common Stock | $16.1m | 109,373 |
| ZEBRA TECHNOLOGIES CORPORATI989207105 · ZBRA | Common Stock | $15.8m | 53,188 |
| ZSCALER INC98980G102 · ZS | Common Stock | $28.2m | 94,104 |
| ZURN ELKAY WATER SOLNS CORP98983L108 · ZWS | Common Stock | $9.3m | 197,277 |
How copying its 13F would have done
Reported value by quarter
View chart data
| Period | Reported value |
|---|---|
| 2022-12-31 | $1.6B |
| 2023-03-31 | $1.8B |
| 2023-06-30 | $2.1B |
| 2023-09-30 | $2B |
| 2023-12-31 | $2.3B |
| 2024-03-31 | $2.4B |
| 2024-06-30 | $2.4B |
| 2024-09-30 | $2.5B |
| 2024-12-31 | $2.3B |
| 2025-03-31 | $2B |
| 2025-06-30 | $2.2B |
| 2025-09-30 | $2.2B |
Latest covered holdings and moves
| Company | Share of portfolio | Value | Shares | Change in shares |
|---|---|---|---|---|
| NVDANVIDIA Corporation | 4.92% | $108.4m | 581.1K | −19.0% Reduced |
| NOWServiceNow | 3.32% | $73.2m | 79.6K | +8.2% Added |
| SNPSSynopsys Inc | 3.19% | $70.3m | 142.5K | −7.6% Reduced |
| CDNSCadence Design Systems Inc | 2.34% | $51.6m | 147.0K | −10.6% Reduced |
| SNOWSnowflake Inc. | 2.04% | $44.9m | 199.3K | 0.0% |
| CLHClean Harbors Inc | 2.03% | $44.7m | 192.3K | +0.8% Added |
| ESTCElastic N.V. | 2.01% | $44.2m | 523.3K | +10.2% Added |
| GOOGLAlphabet Inc. (Class A) | 2.00% | $44.0m | 180.8K | −16.1% Reduced |
| PTCPTC Inc. | 1.95% | $42.9m | 211.2K | +9.9% Added |
| NVTnVent Electric plc | 1.90% | $41.9m | 424.9K | −28.9% Reduced |
| VRTVertiv | 1.82% | $40.1m | 265.9K | −9.4% Reduced |
| ECLEcolab | 1.68% | $36.9m | 134.9K | −11.7% Reduced |
| ISRGIntuitive Surgical | 1.58% | $34.9m | 77.9K | +8.2% Added |
| MSFTMicrosoft Corporation | 1.57% | $34.6m | 66.7K | +25.6% Added |
| CRWDCrowdStrike | 1.48% | $32.7m | 66.7K | +28.0% Added |
| MDBMongodb, Inc. | 1.47% | $32.5m | 104.6K | −7.3% Reduced |
| TMOThermo Fisher Scientific | 1.33% | $29.3m | 60.5K | +16.7% Added |
| JBTMJBT Marel Corp | 1.33% | $29.3m | 208.6K | 0.0% |
| MSIMotorola Solutions | 1.33% | $29.2m | 63.9K | −0.9% Reduced |
| STESteris | 1.29% | $28.4m | 114.7K | +1.3% Added |
| AVGOBroadcom | 1.28% | $28.3m | 85.8K | +16.2% Added |
| ZSZscaler, Inc. | 1.28% | $28.2m | 94.1K | −7.1% Reduced |
| BSYBentley Systems Inc | 1.24% | $27.4m | 531.5K | 0.0% |
| EQIXEquinix | 1.23% | $27.1m | 34.6K | −2.2% Reduced |
| OSISOSI Systems Inc | 1.20% | $26.5m | 106.4K | −5.5% Reduced |
| ROLRollins, Inc. | 1.20% | $26.4m | 450.0K | +0.8% Added |
| DLRDigital Realty | 1.19% | $26.2m | 151.4K | +0.6% Added |
| APGApi Group Corp | 1.16% | $25.6m | 744.6K | +37.7% Added |
| AMDAdvanced Micro Devices | 1.14% | $25.2m | 155.9K | −44.3% Reduced |
| VRNSVaronis Systems Inc | 1.13% | $25.0m | 434.7K | −8.1% Reduced |
| DXCMDexcom | 1.11% | $24.4m | 362.3K | +7.3% Added |
| KLACKLA Corporation | 1.07% | $23.7m | 21.9K | −29.1% Reduced |
| PANWPalo Alto Networks | 1.04% | $22.9m | 112.4K | +10.0% Added |
| APTVAptiv | 1.02% | $22.5m | 261.5K | +56.9% Added |
| CNMCore & Main, Inc. | 1.02% | $22.5m | 418.0K | +14.8% Added |
| PRCTProcept Biorobotics Corp | 1.02% | $22.5m | 630.1K | +59.6% Added |
| MANHManhattan Associates Inc | 1.02% | $22.4m | 109.2K | 0.0% |
| WCNWaste Connections, Inc. | 0.94% | $20.8m | 118.5K | +7.2% Added |
| SPSCSPS Commerce Inc | 0.93% | $20.5m | 196.9K | +12.4% Added |
| SSentinelone, Inc. | 0.93% | $20.4m | 1.16M | +12.5% Added |
| WMSAdvanced Drainage Systems, Inc. | 0.92% | $20.2m | 145.5K | −3.3% Reduced |
| CLBTCellebrite DI Ltd. | 0.90% | $19.8m | 1.07M | +22.6% Added |
| WABWabtec | 0.86% | $18.9m | 94.1K | −22.4% Reduced |
| TYLTyler Technologies Inc | 0.83% | $18.4m | 35.2K | −9.8% Reduced |
| ROPRoper Technologies | 0.83% | $18.4m | 36.8K | 0.0% |
| AXONAxon Enterprise | 0.83% | $18.3m | 25.6K | −5.6% Reduced |
| ADSKAutodesk, Inc. | 0.83% | $18.2m | 57.4K | −1.6% Reduced |
| DHRDanaher Corporation | 0.82% | $18.2m | 91.7K | +8.3% Added |
| MDTMedtronic | 0.80% | $17.6m | 184.9K | 0.0% |
| IEXIDEX Corporation | 0.80% | $17.6m | 108.2K | +11.3% Added |
| WTRGEssential Utilities, Inc. | 0.75% | $16.5m | 412.7K | 0.0% |
| FROGJfrog Ltd | 0.74% | $16.4m | 346.7K | New |
| XYLXylem Inc. | 0.73% | $16.1m | 109.4K | −15.0% Reduced |
| ZBRAZebra Technologies | 0.72% | $15.8m | 53.2K | New |
| CYRXCryoport, Inc. | 0.70% | $15.5m | 1.64M | −14.4% Reduced |
| FERGFerguson Enterprises | 0.70% | $15.5m | 68.8K | −8.0% Reduced |
| FOURShift4 Payments, Inc. | 0.69% | $15.2m | 196.4K | +1.0% Added |
| LFUSLittelfuse Inc | 0.69% | $15.1m | 58.3K | −8.1% Reduced |
| MSAMSA Safety Inc | 0.68% | $15.0m | 86.9K | −13.3% Reduced |
| ACMAecom | 0.66% | $14.6m | 112.1K | −5.1% Reduced |
| VLTOVeralto | 0.63% | $13.8m | 129.9K | 0.0% |
| SYMSymbotic Inc. | 0.63% | $13.8m | 255.5K | −58.2% Reduced |
| AITApplied Industrial Technologies Inc | 0.61% | $13.4m | 51.3K | 0.0% |
| PNRPentair | 0.60% | $13.2m | 119.2K | 0.0% |
| WMWaste Management | 0.59% | $13.1m | 59.4K | 0.0% |
| GNRCGenerac | 0.59% | $13.0m | 77.7K | +16.8% Added |
| FISVFiserv | 0.56% | $12.4m | 96.1K | −22.4% Reduced |
| FBINFortune Brands Innovations, Inc. | 0.56% | $12.3m | 230.1K | New |
| TRUTransunion | 0.55% | $12.1m | 144.7K | +6.3% Added |
| AWKAmerican Water Works | 0.54% | $11.9m | 85.7K | 0.0% |
| TTEKTetra Tech Inc | 0.52% | $11.5m | 345.8K | +9.5% Added |
| AAgilent Technologies | 0.52% | $11.5m | 89.7K | 0.0% |
| AOSA. O. Smith | 0.49% | $10.8m | 147.0K | 0.0% |
| MODModine Manufacturing Co | 0.43% | $9.5m | 67.0K | −10.7% Reduced |
| HQYHealthequity, Inc. | 0.43% | $9.4m | 99.2K | −2.7% Reduced |
| ZWSZurn Elkay Water Solutions Corp | 0.42% | $9.3m | 197.3K | 0.0% |
| MSEXMiddlesex Water Co | 0.42% | $9.3m | 171.0K | 0.0% |
| CTASCintas | 0.42% | $9.2m | 45.0K | −29.1% Reduced |
| ARGXArgenx SE | 0.39% | $8.5m | 11.6K | 0.0% |
| NDAQNasdaq, Inc. | 0.38% | $8.5m | 95.6K | −4.5% Reduced |
| BSXBoston Scientific | 0.37% | $8.1m | 83.3K | +9.6% Added |
| INTUIntuit | 0.35% | $7.7m | 11.3K | +12.6% Added |
| SPGIS&P Global | 0.34% | $7.5m | 15.5K | −4.5% Reduced |
| MSCIMSCI | 0.33% | $7.2m | 12.7K | −4.5% Reduced |
| RPDRapid7, Inc. | 0.32% | $7.1m | 376.7K | −3.6% Reduced |
| HUBSHubspot Inc | 0.31% | $6.8m | 14.6K | +5.7% Added |
| CSGPCoStar Group | 0.31% | $6.7m | 79.9K | −12.0% Reduced |
| LLYLilly (Eli) | 0.30% | $6.6m | 8.7K | 0.0% |
| COSTCostco | 0.29% | $6.5m | 7.0K | −4.7% Reduced |
| HTOH2o America | 0.29% | $6.4m | 132.2K | +24.5% Added |
| TMUST-Mobile US | 0.29% | $6.4m | 26.6K | −4.7% Reduced |
| ADBEAdobe Inc. | 0.29% | $6.3m | 17.9K | −4.5% Reduced |
| LHLabcorp | 0.28% | $6.2m | 21.5K | +7.2% Added |
| MASMasco | 0.27% | $5.9m | 83.5K | −25.8% Reduced |
| SYKStryker Corporation | 0.25% | $5.6m | 15.0K | +18.9% Added |
| PLNTPlanet Fitness, Inc. | 0.25% | $5.4m | 52.5K | −7.1% Reduced |
| BJBj's Wholesale Club Holdings, Inc. | 0.24% | $5.4m | 57.5K | +19.2% Added |
| ALCAlcon Inc | 0.24% | $5.3m | 71.2K | 0.0% |
| VRTXVertex Pharmaceuticals | 0.22% | $4.9m | 12.6K | +19.2% Added |
| NTRANatera, Inc. | 0.22% | $4.9m | 30.7K | 0.0% |
| ORCLOracle Corporation | 0.22% | $4.9m | 17.4K | +1.4% Added |
| MTDMettler Toledo | 0.22% | $4.8m | 3.9K | −64.3% Reduced |
| VZVerizon | 0.21% | $4.6m | 105.2K | −4.7% Reduced |
| CWTCalifornia Water Service Group | 0.21% | $4.6m | 100.5K | −35.0% Reduced |
| TTCToro Co | 0.21% | $4.6m | 60.5K | −42.7% Reduced |
| NFLXNetflix | 0.21% | $4.6m | 3.8K | −4.7% Reduced |
| WIXWix.com Ltd. | 0.21% | $4.6m | 25.6K | −4.7% Reduced |
| DSGXDescartes Systems Group Inc | 0.21% | $4.5m | 48.1K | −4.7% Reduced |
| CVSCVS Health | 0.20% | $4.4m | 58.6K | 0.0% |
| NYTNEW York Times Co | 0.19% | $4.1m | 71.5K | −18.6% Reduced |
| MRKMerck & Co. | 0.18% | $4.0m | 48.0K | 0.0% |
| UNITUniti Group Inc. | 0.18% | $3.9m | 637.3K | New |
| DISThe Walt Disney Company | 0.17% | $3.8m | 33.6K | −0.6% Reduced |
| AMZNAmazon | 0.17% | $3.8m | 17.2K | −14.1% Reduced |
| IQVIQVIA | 0.17% | $3.7m | 19.6K | +26.6% Added |
| ALRMAlarm.com Holdings, Inc. | 0.17% | $3.6m | 68.3K | −4.7% Reduced |
| GRMNGarmin | 0.16% | $3.6m | 14.5K | −70.7% Reduced |
| TOSTToast, Inc. | 0.16% | $3.5m | 95.6K | +13.1% Added |
| TEAMAtlassian Corp | 0.16% | $3.5m | 21.7K | −4.7% Reduced |
| UNHUnitedHealth Group | 0.14% | $3.2m | 9.2K | −17.3% Reduced |
| SFMSprouts Farmers Market, Inc. | 0.14% | $3.0m | 27.3K | +20.2% Added |
| ALNYAlnylam Pharmaceuticals, Inc. | 0.13% | $2.8m | 6.1K | +0.1% |
| PGNYProgyny, Inc. | 0.12% | $2.7m | 124.0K | 0.0% |
| Company | Bought (value) | Shares |
|---|---|---|
| FROGJfrog Ltd | $16.4m | 346.7K |
| ZBRAZebra Technologies | $15.8m | 53.2K |
| FBINFortune Brands Innovations, Inc. | $12.3m | 230.1K |
| PRCTProcept Biorobotics Corp | $8.4m | 235.3K |
| APTVAptiv | $8.2m | 94.8K |
| CRWDCrowdStrike | $7.2m | 14.6K |
| MSFTMicrosoft Corporation | $7.1m | 13.6K |
| APGApi Group Corp | $7.0m | 204.0K |
| NOWServiceNow | $5.6m | 6.0K |
| TMOThermo Fisher Scientific | $4.2m | 8.6K |
| ESTCElastic N.V. | $4.1m | 48.3K |
| AVGOBroadcom | $4.0m | 12.0K |
| UNITUniti Group Inc. | $3.9m | 637.3K |
| PTCPTC Inc. | $3.9m | 19.1K |
| CLBTCellebrite DI Ltd. | $3.6m | 196.9K |
| Company | Sold (value) | Shares |
|---|---|---|
| NVDANVIDIA Corporation | −$25.4m | −136.1K |
| AMDAdvanced Micro Devices | −$20.0m | −123.8K |
| SYMSymbotic Inc. | −$19.2m | −356.0K |
| NVTnVent Electric plc | −$17.0m | −172.5K |
| OKTAOkta, Inc. | −$13.0m | −130.0K |
| KLACKLA Corporation | −$9.7m | −9.0K |
| GRMNGarmin | −$8.6m | −35.1K |
| MTDMettler Toledo | −$8.6m | −7.0K |
| GOOGLAlphabet Inc. (Class A) | −$8.5m | −34.8K |
| CDNSCadence Design Systems Inc | −$6.1m | −17.5K |
| SNPSSynopsys Inc | −$5.8m | −11.8K |
| WABWabtec | −$5.5m | −27.2K |
| ECLEcolab | −$4.9m | −17.9K |
| GDDYGodaddy Inc. | −$4.8m | −26.5K |
| ITGartner | −$4.2m | −10.4K |
| Period | Copy, a year | S&P 500 | Sharpe | S&P 500 | Biggest drop | Beta |
|---|---|---|---|---|---|---|
| Whole backtestFebruary 17, 2023 to February 27, 2026 | +13.4% | +20.4% | 0.53 | 1.03 | −22.2% | 1.13 |
| Last three yearsMarch 3, 2023 to February 27, 2026 | +13.5% | +20.9% | 0.53 | 1.07 | −22.2% | 1.14 |
| Last yearFebruary 28, 2025 to February 27, 2026 | +5.7% | +16.9% | 0.17 | 0.77 | −15.4% | 1.02 |