Thematics Asset Management
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Thematics Asset Management reported 140 stock positions worth $2.4 billion. Its top holding was Nvidia (NVDA) at 4.1% of the portfolio, followed by Nvent Electric (NVT, 3.2%) and Synopsys (SNPS, 2.7%). Compared with Q4 2023, it opened 5 new positions, sold out of 5, added to 46 and reduced 79. The biggest buy was Nvidia (NVDA, shares +4%) and the biggest sale an exit from Splunk (SPLK).
- Most Recent 13F
- Q3 2025
- Location
- PARIS, I0
- CIK
- 0001956031
- Portfolio Value
- $2.4B (Q1 2024)
- SEC Filing
- 0001104659-24-060512 ↗ filed May 13, 2024
Holdings Value
Holdings 140 stocks · $2.4B
| NVDA Nvidia Corp. | 4.11% | 109,544 | $99.0M | Add +3.5% |
| NVT Nvent Electric PLC | 3.23% | 1,031,768 | $77.8M | Add +4.8% |
| SNPS Synopsys Inc. | 2.71% | 114,049 | $65.2M | Add +7.3% |
| NOW ServiceNow Inc. | 2.41% | 76,161 | $58.1M | Reduce -13.9% |
| CRWD CrowdStrike Holdings Inc. Class A | 2.38% | 178,807 | $57.3M | Reduce -23.2% |
| STE Steris PLC | 2.34% | 250,610 | $56.3M | Add +14.5% |
| ANSS Ansys Inc. | 2.25% | 155,856 | $54.1M | Add +71.5% |
| CLH Clean Harbors Inc. | 1.91% | 227,774 | $45.9M | Reduce -2.8% |
| ECL Ecolab Inc. | 1.84% | 192,037 | $44.3M | Reduce -3.6% |
| CDNS Cadence Design SYS Inc. | 1.80% | 139,040 | $43.3M | Add +10.2% |
| GOOGL Alphabet Inc. Class A | 1.76% | 281,158 | $42.4M | Add +12.1% |
| MDT Medtronic PLC | 1.70% | 469,383 | $40.9M | Reduce -0.9% |
| HOLX Hologic Inc. | 1.63% | 504,285 | $39.3M | Add +16.3% |
| PTC PTC Inc. | 1.57% | 199,658 | $37.7M | No change |
| SNOW Snowflake Inc. | 1.35% | 201,251 | $32.5M | Add +10.0% |
| ALTR Altair Engineering Inc. Class A | 1.35% | 376,281 | $32.4M | Add +14.5% |
| ISRG Intuitive Surgical Inc. | 1.33% | 79,969 | $31.9M | Reduce -7.8% |
| TMO Thermo Fisher Scientific Inc. | 1.32% | 54,661 | $31.8M | Reduce -1.8% |
| AMD Advanced Micro Devices | 1.31% | 175,055 | $31.6M | Reduce -7.0% |
| MSA Msa Safety Inc. | 1.27% | 157,500 | $30.5M | Add +5.0% |
| APG Api Group Corp. | 1.22% | 750,000 | $29.5M | Reduce -0.7% |
| WAB Wabtec Corp. | 1.21% | 200,000 | $29.1M | Reduce -10.7% |
| DLR Digital Realty Trust Inc. | 1.17% | 195,500 | $28.2M | Add +16.4% |
| EQIX Equinix Inc. | 1.15% | 33,600 | $27.7M | Reduce -2.0% |
| ROL Rollins Inc. | 1.12% | 581,000 | $26.9M | Add +11.5% |
| KLAC KLA Corp. | 1.08% | 37,072 | $25.9M | No change |
| DXCM Dexcom Inc. | 1.03% | 179,561 | $24.9M | Reduce -5.3% |
| SRCL Stericycle Inc. | 1.03% | 470,000 | $24.8M | Reduce -4.6% |
| PANW Palo Alto Networks Inc. | 1.00% | 84,984 | $24.1M | Reduce -7.8% |
| OSIS Osi Systems Inc. | 1.00% | 168,500 | $24.1M | Add +6.7% |
| CNM Core & Main Inc. Class A | 1.00% | 419,000 | $24.0M | Reduce -25.8% |
| FISV Fiserv Inc. | 0.98% | 147,300 | $23.5M | Reduce -16.8% |
| MSI Motorola Solutions Inc. | 0.97% | 66,000 | $23.4M | Add +6.5% |
| CTAS Cintas Corp. | 0.97% | 34,000 | $23.4M | Reduce -1.4% |
| CYBR Cyberark Software Ltd./Israel | 0.96% | 87,200 | $23.2M | Reduce -26.7% |
| ROP Roper Technologies Inc. | 0.94% | 40,303 | $22.6M | No change |
| V Visa Inc. Class A | 0.94% | 80,984 | $22.6M | Reduce -12.9% |
| AVTR Avantor Inc. | 0.92% | 865,000 | $22.1M | Add +31.9% |
| GPN Global Payments Inc. | 0.91% | 164,710 | $22.0M | Reduce -11.8% |
| JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP | 0.91% | 209,517 | $22.0M | Add +44.4% |
| XYL Xylem Inc. | 0.90% | 166,669 | $21.5M | Reduce -3.5% |
| MTD Mettler-Toledo International | 0.85% | 15,449 | $20.6M | Reduce -0.3% |
| TER Teradyne Inc. | 0.85% | 181,130 | $20.4M | Add +20.5% |
| WCN Waste Connections Inc. | 0.84% | 116,969 | $20.1M | Reduce -9.3% |
| GNTX Gentex Corp. | 0.82% | 547,000 | $19.8M | Add +4.5% |
| VRNS Varonis Systems Inc. | 0.82% | 416,000 | $19.6M | Reduce -19.1% |
| FOUR SHIFT4 Payments Inc. Class A | 0.80% | 290,000 | $19.2M | Add +20.8% |
| MBLY Mobileye Global Inc. Class A | 0.74% | 555,000 | $17.8M | New |
| FERG Ferguson Jersey Ltd. | 0.74% | 81,538 | $17.8M | Reduce -56.5% |
| SYM Symbotic Inc. | 0.72% | 383,038 | $17.2M | New |
| OKTA Okta Inc. | 0.71% | 163,000 | $17.1M | Add +32.5% |
| SPSC SPS Commerce Inc. | 0.71% | 91,879 | $17.0M | Add +10.6% |
| PNR Pentair PLC | 0.71% | 198,737 | $17.0M | Reduce -10.0% |
| ZS Zscaler Inc. | 0.70% | 88,000 | $17.0M | Reduce -5.4% |
| DHR Danaher Corp. | 0.70% | 67,196 | $16.8M | Reduce -4.4% |
| ROK Rockwell Automation Inc. | 0.69% | 57,065 | $16.6M | No change |
| WTRG Essential Utilities Inc. | 0.66% | 426,726 | $15.8M | Reduce -25.4% |
| RPD RAPID7 Inc. | 0.64% | 316,000 | $15.5M | Reduce -9.5% |
| WMS Advanced Drainage Systems Inc. | 0.64% | 89,500 | $15.4M | Reduce -18.6% |
| IEX Idex Corp. | 0.63% | 62,154 | $15.2M | Reduce -4.6% |
| AOS Smith (a.o.) Corp. | 0.62% | 166,000 | $14.9M | Reduce -4.6% |
| MANH Manhattan Associates Inc. | 0.61% | 58,538 | $14.6M | Add +3595.6% |
| TRU Transunion | 0.59% | 178,500 | $14.2M | Add +2.0% |
| A Agilent Technologies Inc. | 0.56% | 92,460 | $13.5M | Reduce -4.2% |
| MDB Mongodb Inc. | 0.56% | 37,405 | $13.4M | New |
| TYL Tyler Technologies Inc. | 0.54% | 30,611 | $13.0M | Add +26.9% |
| VLTO Veralto Corp. | 0.53% | 142,882 | $12.7M | Reduce -4.7% |
| CYRX Cryoport Inc. | 0.53% | 714,000 | $12.6M | Reduce -4.7% |
| ON On Semiconductor | 0.51% | 168,224 | $12.4M | No change |
| MAS Masco Corp. | 0.50% | 153,017 | $12.1M | Reduce -18.6% |
| GRMN Garmin Ltd. | 0.49% | 79,431 | $11.8M | Reduce -20.3% |
| AWK American Water Works Co. Inc. | 0.48% | 95,242 | $11.6M | Reduce -5.0% |
| ADSK Autodesk Inc. | 0.48% | 44,211 | $11.5M | Reduce -14.5% |
| FTNT Fortinet Inc. | 0.47% | 165,000 | $11.3M | Reduce -2.4% |
| LFUS Littelfuse Inc. | 0.46% | 46,000 | $11.1M | Add +7.0% |
| ACM Aecom | 0.46% | 113,472 | $11.1M | Reduce -11.7% |
| WM Waste Management Inc. | 0.46% | 52,024 | $11.1M | Reduce -25.7% |
| PRMW Primo Water Corp. | 0.46% | 603,442 | $11.0M | No change |
| TTEK Tetra Tech Inc. | 0.44% | 57,750 | $10.7M | Reduce -4.9% |
| INTU Intuit Inc. | 0.43% | 16,059 | $10.4M | Add +3.1% |
| ZWS Zurn Elkay Water Solutions C | 0.42% | 305,277 | $10.2M | Reduce -19.7% |
| TTC Toro Co. | 0.42% | 111,473 | $10.2M | Add +4.7% |
| PYPL PayPal Holdings Inc. | 0.42% | 150,000 | $10.0M | Reduce -1.3% |
| COST Costco Wholesale Corp. | 0.41% | 13,634 | $10.0M | Add +0.0% |
| HUBS HubSpot Inc. | 0.41% | 15,792 | $9.9M | Add +7.0% |
| EXPO Exponent Inc. | 0.41% | 119,500 | $9.9M | Reduce -4.8% |
| CSGP Costar Group Inc. | 0.41% | 101,432 | $9.8M | Reduce -0.0% |
| ADBE Adobe Inc. | 0.40% | 19,093 | $9.6M | Add +44.4% |
| AIT Applied Industrial Tech Inc. | 0.40% | 48,335 | $9.5M | Reduce -11.0% |
| NDAQ Nasdaq Inc. | 0.37% | 142,836 | $9.0M | Reduce -2.0% |
| PLNT Planet Fitness Inc. Class A | 0.37% | 142,509 | $8.9M | Reduce -9.3% |
| MSCI MSCI Inc. | 0.36% | 15,614 | $8.8M | Reduce -2.0% |
| SPGI S&P Global Inc. | 0.36% | 20,553 | $8.7M | Add +16.8% |
| TMUS T-Mobile US Inc. | 0.36% | 52,966 | $8.6M | Reduce -2.1% |
| MSFT Microsoft Corp. | 0.33% | 19,139 | $8.1M | Reduce -2.1% |
| CWT California Water Service Grp | 0.33% | 172,470 | $8.0M | Add +7.5% |
| MRK Merck & Co. Inc. | 0.31% | 55,915 | $7.4M | No change |
| NTRA Natera Inc. | 0.30% | 78,782 | $7.2M | Reduce -12.7% |
| GDDY GoDaddy Inc. Class A | 0.28% | 57,239 | $6.8M | Add +22.8% |
| ESTC Elastic NV | 0.28% | 67,157 | $6.7M | New |
Portfolio Sells Q4 2023 → Q1 2024
| SPLK Splunk Inc. | Sold out | 0.00% | −2.56 |
| STN Stantec Inc. | Sold out | 0.00% | −0.85 |
| FERG Ferguson Jersey Ltd. | Reduce -56.5% | 0.74% | −0.85 |
| APTV Aptiv Irish Holdings Ltd. | Sold out | 0.00% | −0.75 |
| TEL Te Connectivity Ltd. | Sold out | 0.00% | −0.49 |
| ALC Alcon Inc. | Reduce -65.5% | 0.24% | −0.45 |
| OMCL Omnicell Inc. | Reduce -67.0% | 0.13% | −0.42 |
| NOW ServiceNow Inc. | Reduce -13.9% | 2.41% | −0.33 |
| WTRG Essential Utilities Inc. | Reduce -25.4% | 0.66% | −0.28 |
| RPD RAPID7 Inc. | Reduce -9.5% | 0.64% | −0.23 |
| CRWD CrowdStrike Holdings Inc. Class A | Reduce -23.2% | 2.38% | −0.23 |
| VRNS Varonis Systems Inc. | Reduce -19.1% | 0.82% | −0.21 |
| ZS Zscaler Inc. | Reduce -5.4% | 0.70% | −0.20 |
| PANW Palo Alto Networks Inc. | Reduce -7.8% | 1.00% | −0.19 |
| CYBR Cyberark Software Ltd./Israel | Reduce -26.7% | 0.96% | −0.18 |
| PLNT Planet Fitness Inc. Class A | Reduce -9.3% | 0.37% | −0.13 |
| GPN Global Payments Inc. | Reduce -11.8% | 0.91% | −0.13 |
| V Visa Inc. Class A | Reduce -12.9% | 0.94% | −0.12 |
| PAYC Paycom Software Inc. | Sold out | 0.00% | −0.11 |
| AWK American Water Works Co. Inc. | Reduce -5.0% | 0.48% | −0.10 |
| YETI Yeti Holdings Inc. | Reduce -25.9% | 0.10% | −0.09 |
| WM Waste Management Inc. | Reduce -25.7% | 0.46% | −0.09 |
| EXPO Exponent Inc. | Reduce -4.8% | 0.41% | −0.07 |
| ADSK Autodesk Inc. | Reduce -14.5% | 0.48% | −0.07 |
| LULU Lululemon Athletica Inc. | Reduce -16.9% | 0.11% | −0.07 |
| GRMN Garmin Ltd. | Reduce -20.3% | 0.49% | −0.07 |
| NKE Nike Inc. Class B | Reduce -28.0% | 0.10% | −0.07 |
| ZWS Zurn Elkay Water Solutions C | Reduce -19.7% | 0.42% | −0.07 |
| EQIX Equinix Inc. | Reduce -2.0% | 1.15% | −0.06 |
| ACM Aecom | Reduce -11.7% | 0.46% | −0.06 |
| FISV Fiserv Inc. | Reduce -16.8% | 0.98% | −0.05 |
| CHTR Charter Communications Inc. Class A | Reduce -0.5% | 0.12% | −0.05 |
| MAS Masco Corp. | Reduce -18.6% | 0.50% | −0.05 |
| UNH Unitedhealth Group Inc. | Reduce -7.0% | 0.22% | −0.05 |
| CVS CVS Health Corp. | Reduce -15.6% | 0.19% | −0.04 |
| NYT New York Times Co. Class A | Reduce -1.2% | 0.20% | −0.04 |
| SRCL Stericycle Inc. | Reduce -4.6% | 1.03% | −0.04 |
| LH Laboratory CRP of Amer Hldgs | Reduce -9.4% | 0.19% | −0.04 |
| WMS Advanced Drainage Systems Inc. | Reduce -18.6% | 0.64% | −0.04 |
| WAB Wabtec Corp. | Reduce -10.7% | 1.21% | −0.04 |
| IDXX Idexx Laboratories Inc. | Reduce -13.0% | 0.14% | −0.04 |
| FDS Factset Research Systems Inc. | Reduce -2.1% | 0.25% | −0.03 |
| MSCI MSCI Inc. | Reduce -2.0% | 0.36% | −0.03 |
| ALRM Alarm.com Holdings Inc. | Reduce -18.5% | 0.20% | −0.03 |
| A Agilent Technologies Inc. | Reduce -4.2% | 0.56% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Reduce -28.2% | 0.15% | −0.02 |
| TMUS T-Mobile US Inc. | Reduce -2.1% | 0.36% | −0.02 |
| DHR Danaher Corp. | Reduce -4.4% | 0.70% | −0.02 |
| CALY Callaway Golf Company | Reduce -18.2% | 0.11% | −0.02 |
| AIT Applied Industrial Tech Inc. | Reduce -11.0% | 0.40% | −0.02 |
Portfolio Buys Q4 2023 → Q1 2024
| NVDA Nvidia Corp. | Add +3.5% | 4.11% | +1.81 |
| ANSS Ansys Inc. | Add +71.5% | 2.25% | +0.80 |
| MBLY Mobileye Global Inc. Class A | New | 0.74% | +0.74 |
| SYM Symbotic Inc. | New | 0.72% | +0.72 |
| NVT Nvent Electric PLC | Add +4.8% | 3.23% | +0.68 |
| MANH Manhattan Associates Inc. | Add +3595.6% | 0.61% | +0.59 |
| MDB Mongodb Inc. | New | 0.56% | +0.56 |
| SNPS Synopsys Inc. | Add +7.3% | 2.71% | +0.30 |
| CDNS Cadence Design SYS Inc. | Add +10.2% | 1.80% | +0.29 |
| ESTC Elastic NV | New | 0.28% | +0.28 |
| JBTM JBT Marel Corp. | Add +44.4% | 0.91% | +0.28 |
| HOLX Hologic Inc. | Add +16.3% | 1.63% | +0.27 |
| AVTR Avantor Inc. | Add +31.9% | 0.92% | +0.26 |
| STE Steris PLC | Add +14.5% | 2.34% | +0.23 |
| GOOGL Alphabet Inc. Class A | Add +12.1% | 1.76% | +0.22 |
| OKTA Okta Inc. | Add +32.5% | 0.71% | +0.22 |
| DLR Digital Realty Trust Inc. | Add +16.4% | 1.17% | +0.18 |
| PGNY Progyny Inc. | New | 0.17% | +0.17 |
| MSA Msa Safety Inc. | Add +5.0% | 1.27% | +0.15 |
| TER Teradyne Inc. | Add +20.5% | 0.85% | +0.13 |
| ALTR Altair Engineering Inc. Class A | Add +14.5% | 1.35% | +0.13 |
| MSI Motorola Solutions Inc. | Add +6.5% | 0.97% | +0.12 |
| ROL Rollins Inc. | Add +11.5% | 1.12% | +0.12 |
| OSIS Osi Systems Inc. | Add +6.7% | 1.00% | +0.10 |
| TYL Tyler Technologies Inc. | Add +26.9% | 0.54% | +0.10 |
| GNTX Gentex Corp. | Add +4.5% | 0.82% | +0.07 |
| GDDY GoDaddy Inc. Class A | Add +22.8% | 0.28% | +0.06 |
| AMZN Amazon.com Inc. | Add +32.1% | 0.20% | +0.06 |
| TRU Transunion | Add +2.0% | 0.59% | +0.06 |
| ADBE Adobe Inc. | Add +44.4% | 0.40% | +0.05 |
| BSX Boston Scientific Corp. | Add +7.7% | 0.27% | +0.05 |
| BJ Bj's Wholesale Club Holdings | Add +12.4% | 0.24% | +0.04 |
| HUBS HubSpot Inc. | Add +7.0% | 0.41% | +0.03 |
| SPGI S&P Global Inc. | Add +16.8% | 0.36% | +0.02 |
| FYBR Frontier Communications Pare | Add +22.2% | 0.19% | +0.02 |
| COST Costco Wholesale Corp. | Add +0.0% | 0.41% | +0.02 |
| DSGX The Descartes Systems Grp | Add +2.8% | 0.26% | +0.01 |
| FOUR SHIFT4 Payments Inc. Class A | Add +20.8% | 0.80% | +0.01 |
| PWSC Powerschool Holdings Inc. Class A | Add +25.5% | 0.13% | +0.01 |
| INTU Intuit Inc. | Add +3.1% | 0.43% | +0.01 |
| EXAS Exact Sciences Corp. | Add +16.1% | 0.20% | +0.00 |
| MSEX Middlesex Water Co. | Add +31.6% | 0.27% | −0.00 |
| SPSC SPS Commerce Inc. | Add +10.6% | 0.71% | −0.00 |
| MTCH Match Group Inc. | Add +5.2% | 0.26% | −0.00 |
| SHCO Soho House & Co. Inc. | Add +16.3% | 0.11% | −0.02 |
| TTC Toro Co. | Add +4.7% | 0.42% | −0.02 |
| CWT California Water Service Grp | Add +7.5% | 0.33% | −0.03 |
| ZTS Zoetis Inc. | Add +7.3% | 0.24% | −0.04 |
| LFUS Littelfuse Inc. | Add +7.0% | 0.46% | −0.04 |
| TEAM Atlassian Corp. Class A | Add +6.2% | 0.23% | −0.05 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q3 2025 | 125 | $2.2B | NVDA, NOW, SNPS, CDNS, SNOW |
| Q2 2025 | 126 | $2.2B | NVDA, SNPS, NOW, CDNS, SNOW |
| Q1 2025 | 126 | $2.0B | NVDA, SNPS, NOW, CDNS, SNOW |
| Q4 2024 | 135 | $2.3B | NVDA, NOW, SNPS, CDNS, NVT |
| Q3 2024 | 131 | $2.5B | NVDA, NOW, SNPS, NVT, STE |
| Q2 2024 | 137 | $2.4B | NVDA, SNPS, NOW, CRWD, NVT |
| Q1 2024 | 140 | $2.4B | NVDA, NVT, SNPS, NOW, CRWD |