Thoma Capital Management LLC

Q4 2025 13F-HR Holdings

Location
Towson, MD
Holdings as of
12/31/2025
Date filed
1/8/2026
Form type
13F-HR
Num holdings
60
Total value ($000)
$173,584
Net value change ($000)
-509 (-0.3%)
New positions
3
Sold out positions
2
Turnover %
1.4%
Sector allocation + QoQ delta (equities-only)
Prev filing: 10/21/2025 Next filing: 4/20/2026 SEC filing

Snapshot: Change Analysis

Compared to Q3 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
SPY 5,168 13.2%
IVE 4,209 22.0%
IGLB 3,433 559.1%
VONG 566 NEW
SGOV 349 NEW
LLY 263 32.3%
IWP 200 NEW
GOOGL 197 25.7%
GOOGL 183 14.2%
DLR 123 40.6%
Top Reduces (Value $000, Stocks/ETFs)
IGIB -3,182 -8.6%
IWO -2,316 -21.3%
JPC -2,302 -64.8%
XLK -2,156 -17.9%
HACK -1,288 -19.7%
JEF -1,016 -100.0%
ORCL -634 -39.5%
LEO -493 -77.3%
MSFT -281 -12.5%
PG -239 -100.0%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type