Thematics Asset Management
Filing Date
Global Rank
#1,129
/ 7,976
▼ 37
Top Industry
Software - Application
17.5%
3Y Alpha vs SPY
-9.8%
Period ended 9 months ago
Filed Nov 14, 2025 · 7mo
12 quarters · since Dec 2022
Clone Performance
Jun 2023–Jun 2026 · vs SPYHypothetical growth of cloning every reported 13F position and rebalancing on each filing, indexed to the same start.
Cloned portfolio
+35.2%
SPY
+74.2%
Annualised alpha
-9.7%
Max drawdown
−24.4%
Estimate. 13F holdings are quarter-lagged and long-only, so the clone rebalances about 45 days after each period end — when the filing becomes public — and excludes options and short positions. Past performance does not predict future results.
Portfolio Concentration
125 positions · as of Sep 30, 2025 · Δ vs Jun 30, 2025Top Position
5.1%
−0.3 pts
Top 5
14.9%
−0.7 pts
Top 10
24.9%
−0.4 pts
HHI
141
Diversified−4
Portfolio Trend
12 quarters · across all stocks
Sector Breakdown
As of Sep 30, 2025| Sector | % Portfolio | Value |
|---|---|---|
| Technology | 45.3% | $969,791,812 |
| Industrials | 24.3% | $520,567,613 |
| Healthcare | 14.2% | $303,423,308 |
| Consumer Cyclical | 3.2% | $67,723,817 |
| Real Estate | 3.0% | $63,903,946 |
| Communication Services | 3.0% | $63,353,772 |
| Utilities | 2.3% | $48,707,663 |
| Basic Materials | 1.7% | $36,936,319 |
| Financial Services | 1.7% | $35,345,812 |
| Unclassified | 0.8% | $16,292,936 |
| Consumer Defensive | 0.7% | $14,785,037 |
Last Quarter's Activity
Export CSVAdded To
Positions the filer increased
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| PRCT | PROCEPT BioRobotics Corp | +235,344 | 630,053 | $22,486,591 | |
| APG | APi Group Corp | +204,027 | 744,569 | $25,590,836 | |
| CLBT | Cellebrite DI Ltd. | +196,924 | 1,066,850 | $19,768,730 | |
| S | SentinelOne, Inc. | +129,188 | 1,158,750 | $20,405,587 | |
| APTV | Aptiv PLC | +94,782 | 261,454 | $22,542,563 | |
| CNM | Core & Main, Inc. | +54,000 | 418,000 | $22,500,940 | |
| ESTC | Elastic N.V. | +48,346 | 523,283 | $44,212,180 | |
| TTEK | Tetra Tech Inc | +30,000 | 345,750 | $11,541,135 | |
| HTO | H2o America | +26,000 | 132,246 | $6,440,380 | |
| DXCM | Dexcom Inc | +24,608 | 362,294 | $24,378,763 | |
| SPSC | Sps Commerce Inc | +21,724 | 196,914 | $20,506,623 | |
| PTC | Ptc Inc. | +19,065 | 211,207 | $42,879,245 | |
| CRWD | CrowdStrike Holdings, Inc. | +14,592 | 66,702 | $32,709,326 | |
| MSFT | Microsoft Corp | +13,616 | 66,712 | $34,553,480 | |
| AVGO | Broadcom Inc. | +11,989 | 85,831 | $28,316,505 | |
| GNRC | Generac Holdings Inc. | +11,210 | 77,742 | $13,014,010 | |
| TOST | Toast, Inc. | +11,059 | 95,612 | $3,490,794 | |
| IEX | Idex Corp /De/ | +11,000 | 108,154 | $17,603,145 | |
| PANW | Palo Alto Networks Inc | +10,254 | 112,364 | $22,879,557 | |
| BJ | BJ's Wholesale Club Holdings, Inc. | +9,261 | 57,453 | $5,357,492 | |
| TMO | Thermo Fisher Scientific Inc. | +8,647 | 60,484 | $29,335,949 | |
| TRU | TransUnion | +8,603 | 144,722 | $12,124,809 | |
| WCN | Waste Connections, Inc. | +8,000 | 118,469 | $20,826,850 | |
| BSX | Boston Scientific Corp | +7,268 | 83,346 | $8,137,069 | |
| DHR | Danaher Corp /De/ | +7,000 | 91,702 | $18,180,838 | |
| No positions match the current search. | |||||
Trimmed
Positions the filer reduced
25 positions
| Ticker | Company | Δ Shares | Shares | Value | Open |
|---|---|---|---|---|---|
| SYM | Symbotic Inc. | −356,029 | 255,465 | $13,769,563 | |
| CYRX | Cryoport, Inc. | −276,262 | 1,638,623 | $15,534,146 | |
| NVT | nVent Electric plc | −172,543 | 424,873 | $41,909,472 | |
| NVDA | Nvidia Corp | −136,142 | 581,083 | $108,418,466 | |
| AMD | Advanced Micro Devices Inc | −123,756 | 155,867 | $25,217,721 | |
| CWT | California Water Service Group | −54,000 | 100,470 | $4,610,568 | |
| TTC | Toro Co | −45,000 | 60,473 | $4,608,042 | |
| VRNS | Varonis Systems Inc | −38,151 | 434,697 | $24,982,036 | |
| GRMN | Garmin Ltd | −35,069 | 14,528 | $3,577,084 | |
| GOOGL | Alphabet Inc. | −34,788 | 180,819 | $43,957,098 | |
| MAS | Masco Corp /De/ | −29,000 | 83,517 | $5,878,761 | |
| FISV | Fiserv Inc | −27,710 | 96,135 | $12,394,685 | |
| VRT | Vertiv Holdings Co | −27,625 | 265,879 | $40,110,505 | |
| WAB | Westinghouse Air Brake Technologies Corp | −27,187 | 94,141 | $18,872,446 | |
| XYL | Xylem Inc. | −19,296 | 109,373 | $16,132,517 | |
| CTAS | Cintas Corp | −18,461 | 44,997 | $9,236,084 | |
| ECL | Ecolab Inc. | −17,909 | 134,873 | $36,936,319 | |
| CDNS | Cadence Design Systems Inc | −17,491 | 146,965 | $51,622,925 | |
| NYT | New York Times Co | −16,328 | 71,462 | $4,101,918 | |
| RPD | Rapid7, Inc. | −14,240 | 376,738 | $7,063,837 | |
| MSA | MSA Safety Inc | −13,365 | 86,935 | $14,958,905 | |
| SNPS | Synopsys Inc | −11,785 | 142,535 | $70,325,343 | |
| CSGP | Costar Group, Inc. | −10,909 | 79,915 | $6,742,428 | |
| KLAC | Kla Corp | −9,026 | 21,938 | $23,662,326 | |
| MDB | MongoDB, Inc. | −8,212 | 104,601 | $32,466,058 | |
| No positions match the current search. | |||||
New Positions
Positions the filer opened this quarter
4 positions
41 positions ·
$969,791,812 total
· Technology only
· as of Sep 30, 2025
All sectors
Basic Materials
Communication Services
Consumer Cyclical
Consumer Defensive
Financial Services
Healthcare
Industrials
Real Estate
Technology
Utilities
| Ticker | Company | Type | Shares | Value (USD) | % of Portfolio | History |
|---|---|---|---|---|---|---|
| NVDA |
Nvidia Corp
Technology
|
Reduced | 581,083 | $108,418,466 | 11.18% | |
| SNPS |
Synopsys Inc
Technology
|
Reduced | 142,535 | $70,325,343 | 7.25% | |
| CDNS |
Cadence Design Systems Inc
Technology
|
Reduced | 146,965 | $51,622,925 | 5.32% | |
| SNOW |
Snowflake Inc.
Technology
|
Held | 199,260 | $44,943,093 | 4.63% | |
| ESTC |
Elastic N.V.
Technology
|
Added | 523,283 | $44,212,180 | 4.56% | |
| PTC |
Ptc Inc.
Technology
|
Added | 211,207 | $42,879,245 | 4.42% | |
| MSFT |
Microsoft Corp
Technology
|
Added | 66,712 | $34,553,480 | 3.56% | |
| CRWD |
CrowdStrike Holdings, Inc.
Technology
|
Added | 66,702 | $32,709,326 | 3.37% | |
| MDB |
MongoDB, Inc.
Technology
|
Reduced | 104,601 | $32,466,058 | 3.35% | |
| MSI |
Motorola Solutions, Inc.
Technology
|
Reduced | 63,926 | $29,232,720 | 3.01% | |
| AVGO |
Broadcom Inc.
Technology
|
Added | 85,831 | $28,316,505 | 2.92% | |
| ZS |
Zscaler, Inc.
Technology
|
Reduced | 94,104 | $28,199,204 | 2.91% | |
| BSY |
Bentley Systems Inc
Technology
|
Held | 531,483 | $27,360,744 | 2.82% | |
| OSIS |
Osi Systems Inc
Technology
|
Reduced | 106,411 | $26,521,877 | 2.73% | |
| AMD |
Advanced Micro Devices Inc
Technology
|
Reduced | 155,867 | $25,217,721 | 2.60% | |
| VRNS |
Varonis Systems Inc
Technology
|
Reduced | 434,697 | $24,982,036 | 2.58% | |
| KLAC |
Kla Corp
Technology
|
Reduced | 21,938 | $23,662,326 | 2.44% | |
| PANW |
Palo Alto Networks Inc
Technology
|
Added | 112,364 | $22,879,557 | 2.36% | |
| MANH |
Manhattan Associates Inc
Technology
|
Held | 109,238 | $22,391,605 | 2.31% | |
| SPSC |
Sps Commerce Inc
Technology
|
Added | 196,914 | $20,506,623 | 2.11% | |
| S |
SentinelOne, Inc.
Technology
|
Added | 1,158,750 | $20,405,587 | 2.10% | |
| CLBT |
Cellebrite DI Ltd.
Technology
|
Added | 1,066,850 | $19,768,730 | 2.04% | |
| TYL |
Tyler Technologies Inc
Technology
|
Reduced | 35,170 | $18,399,537 | 1.90% | |
| ROP |
Roper Technologies Inc
Technology
|
Held | 36,820 | $18,361,765 | 1.89% | |
| ADSK |
Autodesk, Inc.
Technology
|
Reduced | 57,386 | $18,229,810 | 1.88% | |
| FROG |
JFrog Ltd
Technology
|
NEW | 346,739 | $16,411,156 | 1.69% | |
| ZBRA |
Zebra Technologies Corp
Technology
|
NEW | 53,188 | $15,805,346 | 1.63% | |
| FOUR |
Shift4 Payments, Inc.
Technology
|
Added | 196,367 | $15,198,805 | 1.57% | |
| LFUS |
Littelfuse Inc /De
Technology
|
Reduced | 58,303 | $15,101,060 | 1.56% | |
| NOW |
ServiceNow, Inc.
Technology
|
Added | 79,558 | $14,643,127 | 1.51% | |
| INTU |
Intuit Inc.
Technology
|
Added | 11,327 | $7,735,321 | 0.80% | |
| RPD |
Rapid7, Inc.
Technology
|
Reduced | 376,738 | $7,063,837 | 0.73% | |
| HUBS |
Hubspot Inc
Technology
|
Added | 14,553 | $6,807,893 | 0.70% | |
| ADBE |
Adobe Inc.
Technology
|
Reduced | 17,899 | $6,313,872 | 0.65% | |
| ORCL |
Oracle Corp
Technology
|
Added | 17,434 | $4,903,138 | 0.51% | |
| WIX |
Wix.com Ltd.
Technology
|
Reduced | 25,648 | $4,555,854 | 0.47% | |
| DSGX |
Descartes Systems Group Inc
Technology
|
Reduced | 48,085 | $4,531,049 | 0.47% | |
| ALRM |
Alarm.com Holdings, Inc.
Technology
|
Reduced | 68,345 | $3,627,752 | 0.37% | |
| GRMN |
Garmin Ltd
Technology
|
Reduced | 14,528 | $3,577,084 | 0.37% | |
| TOST |
Toast, Inc.
Technology
|
Added | 95,612 | $3,490,794 | 0.36% | |
| TEAM |
Atlassian Corp
Technology
|
Reduced | 21,661 | $3,459,261 | 0.36% |