Thematics Asset Management
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 13, 2024), Thematics Asset Management reported 137 stock positions worth $2.4 billion. Its top holding was Nvidia (NVDA) at 5.2% of the portfolio, followed by Synopsys (SNPS, 2.9%) and ServiceNow (NOW, 2.7%). Compared with Q1 2024, it opened 2 new positions, sold out of 5, added to 46 and reduced 54. The biggest buy was a new position in Bentley Systems Class B (BSY) and the biggest sale Nvent Electric (NVT, shares −25%).
- Most Recent 13F
- Q3 2025
- Location
- PARIS, I0
- CIK
- 0001956031
- Portfolio Value
- $2.4B (Q2 2024)
- SEC Filing
- 0001104659-24-088937 ↗ filed Aug 13, 2024
Holdings Value
Holdings 137 stocks · $2.4B
| NVDA Nvidia Corp. | 5.18% | 1,025,760 | $126.7M | Reduce -6.4% |
| SNPS Synopsys Inc. | 2.89% | 118,957 | $70.8M | Add +4.3% |
| NOW ServiceNow Inc. | 2.72% | 84,745 | $66.7M | Add +11.3% |
| CRWD CrowdStrike Holdings Inc. Class A | 2.57% | 164,181 | $62.9M | Reduce -8.2% |
| NVT Nvent Electric PLC | 2.42% | 774,708 | $59.4M | Reduce -24.9% |
| ANSS Ansys Inc. | 2.39% | 181,920 | $58.5M | Add +16.7% |
| STE Steris PLC | 2.25% | 250,610 | $55.0M | No change |
| GOOGL Alphabet Inc. Class A | 2.17% | 292,224 | $53.2M | Add +3.9% |
| CLH Clean Harbors Inc. | 1.99% | 215,774 | $48.8M | Reduce -5.3% |
| CDNS Cadence Design SYS Inc. | 1.84% | 146,075 | $45.0M | Add +5.1% |
| ECL Ecolab Inc. | 1.82% | 187,037 | $44.5M | Reduce -2.6% |
| SNOW Snowflake Inc. | 1.67% | 302,052 | $40.8M | Add +50.1% |
| ISRG Intuitive Surgical Inc. | 1.61% | 88,576 | $39.4M | Add +10.8% |
| HOLX Hologic Inc. | 1.58% | 520,693 | $38.7M | Add +3.3% |
| PTC PTC Inc. | 1.54% | 207,589 | $37.7M | Add +4.0% |
| ALTR Altair Engineering Inc. Class A | 1.51% | 376,281 | $36.9M | No change |
| AMD Advanced Micro Devices | 1.48% | 223,152 | $36.2M | Add +27.5% |
| KLAC KLA Corp. | 1.25% | 37,072 | $30.6M | No change |
| TMO Thermo Fisher Scientific Inc. | 1.23% | 54,661 | $30.2M | No change |
| DLR Digital Realty Trust Inc. | 1.21% | 195,500 | $29.7M | No change |
| PANW Palo Alto Networks Inc. | 1.17% | 84,348 | $28.6M | Reduce -0.8% |
| SYM Symbotic Inc. | 1.16% | 805,509 | $28.3M | Add +110.3% |
| MDT Medtronic PLC | 1.14% | 354,417 | $27.9M | Reduce -24.5% |
| MSA Msa Safety Inc. | 1.14% | 148,500 | $27.9M | Reduce -5.7% |
| APG Api Group Corp. | 1.12% | 727,000 | $27.4M | Reduce -3.1% |
| SRCL Stericycle Inc. | 1.12% | 470,000 | $27.3M | No change |
| WAB Wabtec Corp. | 1.10% | 171,000 | $27.0M | Reduce -14.5% |
| ROL Rollins Inc. | 1.09% | 546,000 | $26.6M | Reduce -6.0% |
| EQIX Equinix Inc. | 1.05% | 33,951 | $25.7M | Add +1.0% |
| MSI Motorola Solutions Inc. | 1.04% | 66,000 | $25.5M | No change |
| TER Teradyne Inc. | 0.99% | 162,807 | $24.1M | Reduce -10.1% |
| CYBR Cyberark Software Ltd./Israel | 0.97% | 87,200 | $23.8M | No change |
| ROP Roper Technologies Inc. | 0.96% | 41,903 | $23.6M | Add +4.0% |
| MANH Manhattan Associates Inc. | 0.95% | 94,730 | $23.4M | Add +61.8% |
| OSIS Osi Systems Inc. | 0.95% | 168,500 | $23.2M | No change |
| FOUR SHIFT4 Payments Inc. Class A | 0.93% | 310,000 | $22.7M | Add +6.9% |
| MDB Mongodb Inc. | 0.90% | 88,252 | $22.1M | Add +135.9% |
| V Visa Inc. Class A | 0.87% | 80,884 | $21.2M | Reduce -0.1% |
| DXCM Dexcom Inc. | 0.85% | 182,678 | $20.7M | Add +1.7% |
| JBTM JBT Marel Corp. filed as JOHN BEAN TECHNOLOGIES CORP | 0.84% | 217,839 | $20.7M | Add +4.0% |
| WCN Waste Connections Inc. | 0.84% | 117,469 | $20.6M | Add +0.4% |
| CNM Core & Main Inc. Class A | 0.84% | 419,000 | $20.5M | No change |
| BSY Bentley Systems Inc. Class B | 0.83% | 411,105 | $20.3M | New |
| XYL Xylem Inc. | 0.82% | 148,669 | $20.2M | Reduce -10.8% |
| CTAS Cintas Corp. | 0.82% | 28,500 | $20.0M | Reduce -16.2% |
| FISV Fiserv Inc. | 0.79% | 129,300 | $19.3M | Reduce -12.2% |
| ROK Rockwell Automation Inc. | 0.77% | 68,752 | $18.9M | Add +20.5% |
| GNTX Gentex Corp. | 0.75% | 547,000 | $18.4M | No change |
| AVTR Avantor Inc. | 0.75% | 865,000 | $18.3M | No change |
| MBLY Mobileye Global Inc. Class A | 0.75% | 650,000 | $18.3M | Add +17.1% |
| VRNS Varonis Systems Inc. | 0.74% | 378,000 | $18.1M | Reduce -9.1% |
| SPSC SPS Commerce Inc. | 0.73% | 95,529 | $18.0M | Add +4.0% |
| DHR Danaher Corp. | 0.69% | 67,196 | $16.8M | No change |
| WTRG Essential Utilities Inc. | 0.68% | 442,726 | $16.5M | Add +3.8% |
| LFUS Littelfuse Inc. | 0.66% | 63,500 | $16.2M | Add +38.0% |
| TYL Tyler Technologies Inc. | 0.65% | 31,826 | $16.0M | Add +4.0% |
| GPN Global Payments Inc. | 0.65% | 164,710 | $15.9M | No change |
| PNR Pentair PLC | 0.65% | 206,737 | $15.9M | Add +4.0% |
| IEX Idex Corp. | 0.65% | 78,654 | $15.8M | Add +26.6% |
| FERG Ferguson Jersey Ltd. | 0.64% | 81,538 | $15.8M | No change |
| MTD Mettler-Toledo International | 0.64% | 11,137 | $15.6M | Reduce -27.9% |
| ZS Zscaler Inc. | 0.61% | 78,000 | $15.0M | Reduce -11.4% |
| WMS Advanced Drainage Systems Inc. | 0.59% | 89,500 | $14.4M | No change |
| AOS Smith (a.o.) Corp. | 0.58% | 174,000 | $14.2M | Add +4.8% |
| OKTA Okta Inc. | 0.56% | 146,000 | $13.7M | Reduce -10.4% |
| VLTO Veralto Corp. | 0.56% | 142,882 | $13.6M | No change |
| TRU Transunion | 0.54% | 178,500 | $13.2M | No change |
| A Agilent Technologies Inc. | 0.53% | 100,460 | $13.0M | Add +8.7% |
| RPD RAPID7 Inc. | 0.53% | 300,000 | $13.0M | Reduce -5.1% |
| ADSK Autodesk Inc. | 0.53% | 52,111 | $12.9M | Add +17.9% |
| GRMN Garmin Ltd. | 0.51% | 77,310 | $12.6M | Reduce -2.7% |
| AWK American Water Works Co. Inc. | 0.50% | 95,242 | $12.3M | No change |
| ON On Semiconductor | 0.49% | 174,907 | $12.0M | Add +4.0% |
| TTEK Tetra Tech Inc. | 0.48% | 57,750 | $11.8M | No change |
| PRMW Primo Water Corp. | 0.48% | 538,442 | $11.8M | Reduce -10.8% |
| TTC Toro Co. | 0.48% | 125,473 | $11.7M | Add +12.6% |
| WM Waste Management Inc. | 0.48% | 54,848 | $11.7M | Add +5.4% |
| ACM Aecom | 0.46% | 126,472 | $11.1M | Add +11.5% |
| EXPO Exponent Inc. | 0.43% | 109,500 | $10.4M | Reduce -8.4% |
| MAS Masco Corp. | 0.42% | 153,017 | $10.2M | No change |
| AIT Applied Industrial Tech Inc. | 0.41% | 51,335 | $10.0M | Add +6.2% |
| FTNT Fortinet Inc. | 0.41% | 165,000 | $9.9M | No change |
| ADBE Adobe Inc. | 0.40% | 17,451 | $9.7M | Reduce -8.6% |
| INTU Intuit Inc. | 0.39% | 14,511 | $9.5M | Reduce -9.6% |
| COST Costco Wholesale Corp. | 0.38% | 10,915 | $9.3M | Reduce -19.9% |
| ESTC Elastic NV | 0.37% | 78,820 | $9.0M | Add +17.4% |
| ZWS Zurn Elkay Water Solutions C | 0.37% | 304,127 | $8.9M | Reduce -0.4% |
| MSEX Middlesex Water Co. | 0.36% | 171,000 | $8.9M | Add +36.8% |
| SPGI S&P Global Inc. | 0.36% | 19,794 | $8.8M | Reduce -3.7% |
| CWT California Water Service Grp | 0.34% | 172,470 | $8.4M | No change |
| NDAQ Nasdaq Inc. | 0.34% | 136,676 | $8.2M | Reduce -4.3% |
| PLNT Planet Fitness Inc. Class A | 0.33% | 111,115 | $8.2M | Reduce -22.0% |
| MSFT Microsoft Corp. | 0.33% | 18,282 | $8.2M | Reduce -4.5% |
| MSCI MSCI Inc. | 0.33% | 16,523 | $8.0M | Add +5.8% |
| NTRA Natera Inc. | 0.33% | 73,492 | $8.0M | Reduce -6.7% |
| CSGP Costar Group Inc. | 0.32% | 105,814 | $7.8M | Add +4.3% |
| BSX Boston Scientific Corp. | 0.30% | 94,698 | $7.3M | No change |
| TMUS T-Mobile US Inc. | 0.30% | 41,079 | $7.2M | Reduce -22.4% |
| GDDY GoDaddy Inc. Class A | 0.29% | 51,150 | $7.1M | Reduce -10.6% |
| MRK Merck & Co. Inc. | 0.28% | 55,915 | $6.9M | No change |
Portfolio Sells Q1 2024 → Q2 2024
| NVT Nvent Electric PLC | Reduce -24.9% | 2.42% | −0.81 |
| MDT Medtronic PLC | Reduce -24.5% | 1.14% | −0.56 |
| PYPL PayPal Holdings Inc. | Sold out | 0.00% | −0.42 |
| CYRX Cryoport Inc. | Reduce -13.6% | 0.17% | −0.35 |
| MTCH Match Group Inc. | Sold out | 0.00% | −0.26 |
| MTD Mettler-Toledo International | Reduce -27.9% | 0.64% | −0.22 |
| MTN Vail Resorts Inc. | Sold out | 0.00% | −0.20 |
| FISV Fiserv Inc. | Reduce -12.2% | 0.79% | −0.19 |
| HUBS HubSpot Inc. | Reduce -34.9% | 0.25% | −0.16 |
| CTAS Cintas Corp. | Reduce -16.2% | 0.82% | −0.16 |
| OKTA Okta Inc. | Reduce -10.4% | 0.56% | −0.15 |
| OMCL Omnicell Inc. | Sold out | 0.00% | −0.13 |
| MSA Msa Safety Inc. | Reduce -5.7% | 1.14% | −0.13 |
| CHTR Charter Communications Inc. Class A | Sold out | 0.00% | −0.12 |
| RPD RAPID7 Inc. | Reduce -5.1% | 0.53% | −0.11 |
| FDS Factset Research Systems Inc. | Reduce -35.8% | 0.14% | −0.11 |
| WAB Wabtec Corp. | Reduce -14.5% | 1.10% | −0.11 |
| APG Api Group Corp. | Reduce -3.1% | 1.12% | −0.11 |
| ZS Zscaler Inc. | Reduce -11.4% | 0.61% | −0.09 |
| VRNS Varonis Systems Inc. | Reduce -9.1% | 0.74% | −0.07 |
| V Visa Inc. Class A | Reduce -0.1% | 0.87% | −0.07 |
| XYL Xylem Inc. | Reduce -10.8% | 0.82% | −0.07 |
| TMUS T-Mobile US Inc. | Reduce -22.4% | 0.30% | −0.06 |
| ZWS Zurn Elkay Water Solutions C | Reduce -0.4% | 0.37% | −0.06 |
| IDXX Idexx Laboratories Inc. | Reduce -33.6% | 0.08% | −0.06 |
| INTU Intuit Inc. | Reduce -9.6% | 0.39% | −0.04 |
| UNH Unitedhealth Group Inc. | Reduce -19.7% | 0.18% | −0.04 |
| DIS The Walt Disney Co. | Reduce -4.5% | 0.13% | −0.04 |
| NDAQ Nasdaq Inc. | Reduce -4.3% | 0.34% | −0.04 |
| PLNT Planet Fitness Inc. Class A | Reduce -22.0% | 0.33% | −0.04 |
| COST Costco Wholesale Corp. | Reduce -19.9% | 0.38% | −0.04 |
| ROL Rollins Inc. | Reduce -6.0% | 1.09% | −0.03 |
| CMG Chipotle Mexican Grill Inc. | Reduce -22.4% | 0.12% | −0.03 |
| ECL Ecolab Inc. | Reduce -2.6% | 1.82% | −0.02 |
| ORCL Oracle Corp. | Reduce -17.9% | 0.18% | −0.02 |
| AMZN Amazon.com Inc. | Reduce -13.6% | 0.18% | −0.02 |
| NFLX Netflix Inc. | Reduce -16.2% | 0.19% | −0.02 |
| VZ Verizon Communications Inc. | Reduce -4.5% | 0.21% | −0.02 |
| PG The Procter & Gamble Co. | Reduce -7.9% | 0.20% | −0.02 |
| ALC Alcon Inc. | Reduce -10.6% | 0.23% | −0.01 |
| WIX Wix.com Ltd. | Reduce -17.6% | 0.15% | −0.01 |
| BJ Bj's Wholesale Club Holdings | Reduce -15.3% | 0.23% | −0.01 |
| ADBE Adobe Inc. | Reduce -8.6% | 0.40% | −0.00 |
| SPGI S&P Global Inc. | Reduce -3.7% | 0.36% | −0.00 |
| DSGX The Descartes Systems Grp | Reduce -4.5% | 0.26% | −0.00 |
| HQY Healthequity Inc. | Reduce -4.5% | 0.20% | −0.00 |
| MSFT Microsoft Corp. | Reduce -4.5% | 0.33% | −0.00 |
| GDDY GoDaddy Inc. Class A | Reduce -10.6% | 0.29% | +0.01 |
| EXPO Exponent Inc. | Reduce -8.4% | 0.43% | +0.01 |
| SFM Sprouts Farmers Market Inc. | Reduce -13.0% | 0.19% | +0.02 |
Portfolio Buys Q1 2024 → Q2 2024
| BSY Bentley Systems Inc. Class B | New | 0.83% | +0.83 |
| SYM Symbotic Inc. | Add +110.3% | 1.16% | +0.44 |
| GOOGL Alphabet Inc. Class A | Add +3.9% | 2.17% | +0.41 |
| MANH Manhattan Associates Inc. | Add +61.8% | 0.95% | +0.35 |
| MDB Mongodb Inc. | Add +135.9% | 0.90% | +0.34 |
| SNOW Snowflake Inc. | Add +50.1% | 1.67% | +0.32 |
| NOW ServiceNow Inc. | Add +11.3% | 2.72% | +0.31 |
| ISRG Intuitive Surgical Inc. | Add +10.8% | 1.61% | +0.28 |
| LFUS Littelfuse Inc. | Add +38.0% | 0.66% | +0.20 |
| SNPS Synopsys Inc. | Add +4.3% | 2.89% | +0.18 |
| AMD Advanced Micro Devices | Add +27.5% | 1.48% | +0.17 |
| IT Gartner Inc. | New | 0.15% | +0.15 |
| ANSS Ansys Inc. | Add +16.7% | 2.39% | +0.14 |
| FOUR SHIFT4 Payments Inc. Class A | Add +6.9% | 0.93% | +0.13 |
| TYL Tyler Technologies Inc. | Add +4.0% | 0.65% | +0.11 |
| PWSC Powerschool Holdings Inc. Class A | Add +66.0% | 0.23% | +0.10 |
| MSEX Middlesex Water Co. | Add +36.8% | 0.36% | +0.09 |
| ESTC Elastic NV | Add +17.4% | 0.37% | +0.09 |
| ROK Rockwell Automation Inc. | Add +20.5% | 0.77% | +0.08 |
| FYBR Frontier Communications Pare | Add +27.0% | 0.26% | +0.06 |
| TTC Toro Co. | Add +12.6% | 0.48% | +0.05 |
| ADSK Autodesk Inc. | Add +17.9% | 0.53% | +0.05 |
| CDNS Cadence Design SYS Inc. | Add +5.1% | 1.84% | +0.04 |
| SPSC SPS Commerce Inc. | Add +4.0% | 0.73% | +0.03 |
| ROP Roper Technologies Inc. | Add +4.0% | 0.96% | +0.03 |
| WTRG Essential Utilities Inc. | Add +3.8% | 0.68% | +0.02 |
| WM Waste Management Inc. | Add +5.4% | 0.48% | +0.02 |
| IEX Idex Corp. | Add +26.6% | 0.65% | +0.02 |
| AIT Applied Industrial Tech Inc. | Add +6.2% | 0.41% | +0.01 |
| WCN Waste Connections Inc. | Add +0.4% | 0.84% | +0.01 |
| MBLY Mobileye Global Inc. Class A | Add +17.1% | 0.75% | +0.00 |
| LH Labcorp Holdings Inc. | Add +9.2% | 0.19% | +0.00 |
| ACM Aecom | Add +11.5% | 0.46% | −0.01 |
| ALRM Alarm.com Holdings Inc. | Add +11.2% | 0.19% | −0.01 |
| TEAM Atlassian Corp. Class A | Add +7.8% | 0.22% | −0.01 |
| LULU Lululemon Athletica Inc. | Add +19.4% | 0.10% | −0.01 |
| ON On Semiconductor | Add +4.0% | 0.49% | −0.02 |
| A Agilent Technologies Inc. | Add +8.7% | 0.53% | −0.03 |
| PTC PTC Inc. | Add +4.0% | 1.54% | −0.03 |
| AOS Smith (a.o.) Corp. | Add +4.8% | 0.58% | −0.04 |
| MSCI MSCI Inc. | Add +5.8% | 0.33% | −0.04 |
| EXAS Exact Sciences Corp. | Add +22.3% | 0.14% | −0.05 |
| HOLX Hologic Inc. | Add +3.3% | 1.58% | −0.05 |
| PNR Pentair PLC | Add +4.0% | 0.65% | −0.06 |
| JBTM JBT Marel Corp. | Add +4.0% | 0.84% | −0.07 |
| CSGP Costar Group Inc. | Add +4.3% | 0.32% | −0.09 |
| EQIX Equinix Inc. | Add +1.0% | 1.05% | −0.10 |
| DXCM Dexcom Inc. | Add +1.7% | 0.85% | −0.19 |
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 |