Thematics Asset Management

Name: Thematics Asset Management 13F holdings, Q1 2024
Creator: Thematics Asset Management
Published: 2024-05-13

Q3 2025Q2 2025Q1 2025Q4 2024Q3 2024Q2 2024

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
MSEX Middlesex Water Co.	0.27%	125,000	$6.6M	Add +31.6%
BSX Boston Scientific Corp.	0.27%	94,698	$6.5M	Add +7.7%
DSGX The Descartes Systems Grp	0.26%	69,491	$6.4M	Add +2.8%
MTCH Match Group Inc.	0.26%	170,698	$6.2M	Add +5.2%
FDS Factset Research Systems Inc.	0.25%	13,406	$6.1M	Reduce -2.1%
ALC Alcon Inc. filed as ALCON AG	0.24%	69,581	$5.8M	Reduce -65.5%
ZTS Zoetis Inc.	0.24%	33,797	$5.7M	Add +7.3%
BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC	0.24%	74,803	$5.7M	Add +12.4%
TEAM Atlassian Corp. Class A	0.23%	28,066	$5.5M	Add +6.2%
HTO H2O America filed as SJW GROUP	0.23%	96,246	$5.4M	No change
VZ Verizon Communications Inc.	0.22%	128,576	$5.4M	Reduce -2.1%
UNH Unitedhealth Group Inc.	0.22%	10,628	$5.3M	Reduce -7.0%
PG The Procter & Gamble Co.	0.21%	31,542	$5.1M	No change
NFLX Netflix Inc.	0.21%	8,268	$5.0M	Reduce -20.6%
TSCO Tractor Supply Company	0.21%	18,904	$4.9M	Reduce -13.7%
HQY Healthequity Inc.	0.21%	60,457	$4.9M	Reduce -18.7%
ORCL Oracle Corp.	0.20%	38,773	$4.9M	Reduce -2.1%
MTN Vail Resorts Inc.	0.20%	21,641	$4.8M	Reduce -2.1%
NYT New York Times Co. Class A	0.20%	110,978	$4.8M	Reduce -1.2%
ALRM Alarm.com Holdings Inc.	0.20%	65,720	$4.8M	Reduce -18.5%
AMZN Amazon.com Inc.	0.20%	26,378	$4.8M	Add +32.1%
EXAS Exact Sciences Corp.	0.20%	68,019	$4.7M	Add +16.1%
FYBR Frontier Communications Pare	0.19%	190,961	$4.7M	Add +22.2%
LH Laboratory CRP of Amer Hldgs	0.19%	21,183	$4.6M	Reduce -9.4%
CVS CVS Health Corp.	0.19%	56,312	$4.5M	Reduce -15.6%
SFM Sprouts Farmers Market Inc.	0.17%	65,229	$4.2M	Reduce -17.0%
PGNY Progyny Inc.	0.17%	109,150	$4.2M	New
DIS The Walt Disney Co. filed as DISNEY WALT CO	0.16%	32,262	$3.9M	Reduce -2.1%
WIX Wix.com Ltd.	0.16%	28,709	$3.9M	Reduce -2.1%
CMG Chipotle Mexican Grill Inc.	0.15%	1,244	$3.6M	Reduce -28.2%
IDXX Idexx Laboratories Inc.	0.14%	6,309	$3.4M	Reduce -13.0%
OMCL Omnicell Inc.	0.13%	110,057	$3.2M	Reduce -67.0%
PWSC Powerschool Holdings Inc. Class A	0.13%	150,180	$3.2M	Add +25.5%
CHTR Charter Communications Inc. Class A	0.12%	10,246	$3.0M	Reduce -0.5%
SHCO Soho House & Co. Inc.	0.11%	474,155	$2.7M	Add +16.3%
LULU Lululemon Athletica Inc.	0.11%	6,740	$2.6M	Reduce -16.9%
CALY Callaway Golf Company filed as TOPGOLF CALLAWAY BRANDS CORP	0.11%	159,540	$2.6M	Reduce -18.2%
NKE Nike Inc. Class B	0.10%	25,424	$2.4M	Reduce -28.0%
YETI Yeti Holdings Inc. filed as YETI HLDGS INC	0.10%	61,422	$2.4M	Reduce -25.9%
EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC	0.09%	14,367	$2.2M	No change

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