Institutional Manager · CIK 0002060298
Thoma Capital Management LLC
Towson, MD · File #028-25461
Latest AUM
$173.6M
Positions
60
Top-10 Concentration
79.6%
Filings
5
Portfolio Value Over Time
2025-03
2025-09
2025-09
2025-09
2025-12
Biggest QoQ Changes
Ranked by conviction flow (share change × current price) so mark-to-market moves don't dominate. Price effect column shows how much of the $ change was just the stock moving.
| Action | Issuer | Ticker / CUSIP | Δ Shares | Flow ($) | Price Effect |
|---|---|---|---|---|---|
| ADD | SPDR S&P 500 ETF TR | SPY | +16,706 | +$11.4M | +$5.9M |
| ADD | ISHARES TR | 464287408 | +39,058 | +$8.3M | +$1.5M |
| EXITED | SELECT SECTOR SPDR TR | 81369Y209 | -40,797 | -$6.0M | $0 |
| ADD | ISHARES TR | 464289511 | +69,420 | +$3.5M | +$2,384 |
| REDUCE | ISHARES TR | 464287648 | -10,773 | -$3.5M | +$2.5M |
| ADD | SELECT SECTOR SPDR TR | 81369Y803 | +23,993 | +$3.5M | -$2.8M |
| ADD | ISHARES TR | 464288638 | +55,808 | +$3.0M | +$773,590 |
| REDUCE | NUVEEN PFD & INCOME OPPORTUN | NU | -289,269 | -$2.3M | +$66,570 |
| REDUCE | AMPLIFY ETF TR | 032108664 | -12,474 | -$1.0M | +$666,413 |
| REDUCE | APPLE INC | AAPL | -3,547 | -$964,318 | +$738,058 |
Sector Allocation
Filing History
- 13F HOLDINGS REPORTQ/E Dec 202560 pos · $173.6M
- 13F HOLDINGS REPORTQ/E Sep 202559 pos · $174.1M
- 13F HOLDINGS REPORTQ/E Sep 202559 pos · $143.0M
- 13F HOLDINGS REPORTQ/E Sep 202558 pos · $157.1M
- 13F HOLDINGS REPORTQ/E Mar 202563 pos · $146.0M
Top 20 Holdings — Dec 2025
| # | Issuer | Ticker | Shares | Value | % of Portfolio |
|---|---|---|---|---|---|
| 1 | SPDR S&P 500 ETF TR | SPY | 64,997 | $44.3M | 25.91% |
| 2 | ISHARES TR | 464288638 | 624,646 | $33.7M | 19.67% |
| 3 | ISHARES TR | 464287408 | 110,134 | $23.4M | 13.65% |
| 4 | SELECT SECTOR SPDR TR | 81369Y803 | 68,574 | $9.9M | 5.77% |
| 5 | ISHARES TR | 464287648 | 26,454 | $8.5M | 4.99% |
| 6 | AMPLIFY ETF TR | 032108664 | 65,291 | $5.2M | 3.07% |
| 7 | ISHARES TR | 464289511 | 80,209 | $4.0M | 2.37% |
| 8 | APPLE INC | AAPL | 11,291 | $3.1M | 1.79% |
| 9 | NVIDIA CORPORATION | NVDA | 10,843 | $2.0M | 1.18% |
| 10 | AMAZON COM INC | AMZN | 8,666 | $2.0M | 1.17% |
| 11 | MICROSOFT CORP | MSFT | 4,078 | $2.0M | 1.15% |
| 12 | ALPHABET INC | GOOG | 4,693 | $1.5M | 0.86% |
| 13 | INVESCO QQQ TR | IVZ | 2,326 | $1.4M | 0.84% |
| 14 | NUVEEN PFD & INCOME OPPORTUN | NU | 154,498 | $1.3M | 0.73% |
| 15 | INTERNATIONAL BUSINESS MACHS | INTR | 4,195 | $1.2M | 0.73% |
| 16 | TESLA INC | TSLA | 2,688 | $1.2M | 0.71% |
| 17 | META PLATFORMS INC | META | 1,818 | $1.2M | 0.70% |
| 18 | CLOUDFLARE INC | NET | 6,036 | $1.2M | 0.70% |
| 19 | ELI LILLY & CO | LLY | 1,003 | $1.1M | 0.63% |
| 20 | DISNEY WALT CO | 254687106 | 9,367 | $1.1M | 0.62% |