Thompson Davis & Co., Inc.

In its 13F for Q3 2025 (holdings as of September 30, 2025, filed November 5, 2025), Thompson Davis & Co., Inc. reported 147 stock positions worth $162.0 million. Its top holding was Smith-Midland (SMID) at 41.8% of the portfolio, followed by Carlisle Cos (CSL, 5.9%) and Dover (DOV, 2.2%). Compared with Q2 2025, it opened 40 new positions, sold out of 30, added to 40 and reduced 43. The biggest buy was Smith-Midland (SMID, shares +3%) and the biggest sale Walmart (WMT, shares −85%).

Most Recent 13F
Q2 2026
Location
RICHMOND, VA
CIK
0001017284
Portfolio Value
$162.0M (Q3 2025)
SEC Filing
0001017284-25-000009 ↗ filed Nov 5, 2025

Holdings Value

0$50.0M$100.0M$150.0M$200.0M Q1 2024: $147.6M Q1 2024 Q2 2024: $115.3M Q2 2024 Q3 2024: $135.4M Q3 2024 Q4 2024: $155.5M Q4 2024 Q1 2025: $126.8M Q1 2025 Q2 2025: $146.7M Q2 2025 Q3 2025: $162.0M $162.0M Q3 2025 Q4 2025: $167.0M Q4 2025 Q1 2026: $149.9M Q1 2026 Q2 2026: $167.2M Q2 2026

Holdings 147 stocks · $162.0M
SMID Smith-Midland Corp. 41.75% 1,832,843 $67.6M Add +3.3%
CSL Carlisle Cos Inc. 5.87% 28,882 $9.5M Add +38.3%
DOV Dover Corp. 2.15% 20,920 $3.5M No change
VOO Vanguard S&P 500 ETF 2.14% 5,670 $3.5M Reduce -8.4%
SHW The Sherwin-Williams Co. 1.60% 7,500 $2.6M No change
FIX Comfort Systems USA Inc. 1.46% 2,872 $2.4M Reduce -5.1%
JPST JPMorgan Ultra-Short Income 1.39% 44,525 $2.3M Add +8.6%
VIG Vanguard Dividend Apprec ETF 1.27% 9,530 $2.1M Add +13.2%
AMZN Amazon.com Inc. 1.10% 8,081 $1.8M Add +9.4%
CB Chubb Ltd. 1.07% 6,125 $1.7M No change
WGS Genedx Holdings Corp. 0.99% 14,891 $1.6M Reduce -14.1%
NVDA Nvidia Corp. 0.96% 8,309 $1.6M Add +49.2%
GEV GE Vernova Inc. 0.81% 2,125 $1.3M No change
COST Costco Wholesale Corp. 0.77% 1,344 $1.2M Reduce -2.9%
SPTS SS SPDR P St Term TSY ETF 0.77% 42,325 $1.2M No change
AAPL Apple Inc. 0.76% 5,033 $1.2M Add +6.3%
HYBL SS Blackstone High Inc. ETF 0.75% 42,464 $1.2M Add +12.0%
SPTI SS SPDR P Int Term TSY ETF 0.73% 40,951 $1.2M Reduce -10.1%
TSLA Tesla Inc. 0.73% 2,650 $1.2M Add +13.7%
SPYM Ste STR SPDR PT S&P 500 ETF 0.71% 14,700 $1.2M Add +28.4%
MSFT Microsoft Corp. 0.70% 2,198 $1.1M Add +4.7%
COF Capital One Financial Corp. 0.65% 4,989 $1.1M New
GE General Electric filed as GE AEROSPACE 0.64% 3,469 $1.0M No change
TGEN Tecogen Inc./Waltham Ma 0.64% 117,953 $1.0M New
BIL SS SPDR BB 1-3M T-Bill ETF 0.64% 11,297 $1.0M Add +17.7%
JMST JPM Ultra-Short Muni Income filed as J P MORGAN EXCHANGE TRADED F 0.64% 20,301 $1.0M No change
PROF Profound Medical Corp. 0.63% 208,720 $1.0M Reduce -0.8%
IBIT iShares Bitcoin Trust ETF 0.62% 15,522 $1.0M Add +1.0%
META Meta Platforms Inc. Class A 0.59% 1,311 $963K Add +1.8%
ESGV Vanguard ESG US Stock ETF 0.59% 8,124 $962K No change
BB Blackberry Ltd. 0.59% 184,574 $954K Add +10.0%
GLD SPDR Gold Shares 0.58% 2,647 $941K Add +0.4%
LLY Eli Lilly & Co. 0.57% 1,201 $916K Reduce -21.9%
VUG Vanguard Mrngstar GR ETF-Sui 0.57% 1,909 $916K Add +1.3%
GOOG Alphabet Inc. Class C 0.56% 3,747 $913K Add +44.3%
SMH Vaneck Semiconductor ETF 0.55% 2,750 $897K New
EME Emcor Group Inc. 0.54% 1,355 $880K Add +36.9%
VTV Vanguard Mrngstr Val ETF-Aui 0.52% 4,555 $849K Reduce -2.7%
DY Dycom Industries Inc. 0.52% 2,910 $849K Reduce -55.7%
FEIM Frequency Electronics Inc. 0.52% 24,735 $839K Add +1.0%
TPC Tutor Perini Corp. 0.48% 11,955 $784K New
MKL Markel Group Inc. 0.44% 376 $719K Add +31.5%
WMT Walmart Inc. 0.42% 6,556 $676K Reduce -85.3%
XLY SS Consumer Disc Select Sect 0.42% 2,807 $673K Reduce -1.6%
VB Vanguard Most SM-Cap ETF-Usd 0.41% 2,607 $663K Add +33.2%
VSGX Vanguard ESG Intl Stock ETF 0.40% 9,236 $641K No change
NFLX Netflix Inc. 0.39% 522 $626K No change
CRWD CrowdStrike Holdings Inc. Class A 0.38% 1,250 $613K Reduce -10.7%
IWM iShares Russell 2000 ETF 0.37% 2,497 $604K Reduce -6.9%
GOOGL Alphabet Inc. Class A 0.36% 2,396 $583K Add +8.0%
AIQ Global X Art Intel & Tech 0.36% 11,645 $575K Add +14.2%
XLC SS Comm Select Sector SPDR 0.35% 4,772 $565K Reduce -4.1%
UBER Uber Technologies Inc. 0.35% 5,955 $564K Reduce -18.9%
CLS Celestica Inc. 0.32% 2,100 $517K No change
TJX TJX Companies Inc. filed as TJX COS INC NEW 0.32% 3,565 $515K Reduce -17.6%
IREN Iren Ltd. filed as IREN LIMITED 0.32% 10,890 $511K New
GILT Gilat Satellite Networks Ltd. 0.30% 37,300 $486K New
CRDO Credo Technology Group Holdi 0.29% 3,225 $470K Reduce -21.3%
SCHD Schwab US DVD Equity ETF 0.29% 17,151 $468K Add +8.4%
HOOD Robinhood Markets Inc. Class A 0.29% 3,250 $465K Reduce -41.1%
LNG Cheniere Energy Inc. 0.29% 1,975 $464K Reduce -0.5%
LPTH Lightpath Technologies Inc. Class A 0.28% 56,909 $451K Add +31.3%
PG The Procter & Gamble Co. 0.28% 2,933 $451K No change
V Visa Inc. Class A 0.27% 1,284 $438K Reduce -13.4%
JEPI JPMorgan Equity Premium Inco 0.27% 7,583 $433K Reduce -39.7%
XLP SS Consumer Staples Sel Sect 0.27% 5,486 $430K Reduce -1.8%
OUNZ Vaneck Merk Gold ETF 0.26% 11,400 $424K Add +43.0%
SHLD Global X Defense Tech ETF 0.26% 6,011 $422K Add +0.2%
FLOT iShares Floating Rate Bond E 0.26% 8,253 $422K Reduce -4.6%
NVT Nvent Electric PLC 0.25% 4,080 $402K No change
SPMD SS SPDR P S&P 400 Midcap ETF 0.25% 6,950 $397K No change
VRT Vertiv Holdings Co. Class A 0.23% 2,500 $377K Reduce -16.7%
TRAK Repositrak Inc. 0.23% 25,250 $374K Reduce -20.8%
XLK SS Technology Select Sector 0.23% 1,325 $373K No change
ORCL Oracle Corp. 0.23% 1,328 $373K Reduce -52.2%
RKLB Rocket Lab Corp. 0.23% 7,700 $369K Reduce -11.5%
FBTC Fidelity Wise Origin Bitcoin 0.23% 3,665 $366K Add +8.9%
QQQ Invesco QQQ Trust Series 1 0.22% 604 $363K Reduce -10.7%
JEPQ JPM Nasdaq Equity Premium filed as J P MORGAN EXCHANGE TRADED F 0.22% 6,212 $357K Add +9.0%
ETN Eaton Corp. PLC 0.22% 950 $356K No change
JNJ Johnson & Johnson 0.22% 1,888 $350K Add +0.2%
CX Cemex Sab-Spons ADR Part Cer 0.21% 38,000 $342K Add +11.8%
SPY SS SPDR S&P 500 ETF Trust-US 0.21% 506 $337K Reduce -2.3%
RDNT Radnet Inc. 0.20% 4,300 $328K Reduce -2.8%
VXF Vanguard Extended Market ETF 0.20% 1,542 $323K Reduce -4.3%
PL Planet Labs PBC 0.20% 24,800 $322K Add +25.1%
GLDD Great Lakes Dredge & Dock Co. 0.20% 26,600 $319K Reduce -53.4%
XLV SS Health Care Select Sector 0.19% 2,267 $315K Reduce -0.8%
MDY State Street SPDR S&P Midcap 0.19% 511 $305K Reduce -2.3%
IBM Intl Business Machines Corp. filed as INTERNATIONAL BUSINESS MACHS 0.18% 1,047 $295K Add +32.5%
UUUU Energy Fuels Inc. 0.18% 19,200 $295K New
NKE Nike Inc. Class B 0.18% 4,175 $291K Add +40.9%
SHIM Shimmick Corp. 0.18% 110,000 $287K Add +100.0%
VEA Vanguard Ftse Developed ETF 0.17% 4,730 $283K No change
RSP Invesco S&P 500 Equal Weight 0.17% 1,491 $283K No change
BW Babcock & Wilcox Enterpr 0.17% 96,550 $280K Add +221.8%
IONQ Ionq Inc. 0.17% 4,375 $269K New
SLV iShares Silver Trust 0.16% 6,200 $263K New
SEI Solaris Energy Infrastructur 0.16% 6,525 $261K New
CCJ Cameco Corp. 0.16% 3,075 $258K No change
IVV iShares Core S&P 500 ETF 0.16% 379 $254K No change
WFC Wells Fargo & Co. 0.15% 2,965 $248K Reduce -23.1%
PBI Pitney Bowes Inc. 0.15% 21,870 $248K Reduce -0.8%
DIS The Walt Disney Co. filed as DISNEY WALT CO 0.15% 2,155 $247K New
EFIV SS SPDR S&P 500 ESG ETF 0.15% 3,880 $247K No change
TSSI TSS Inc. 0.15% 13,500 $244K New
VONV Vanguard Russell 1000 Value 0.15% 2,723 $243K No change
ET Energy Transfer LP 0.15% 14,000 $240K New
PSIX Power Solutions Internationa 0.15% 2,400 $236K Reduce -88.3%
CLF Cleveland-Cliffs Inc. 0.14% 19,200 $234K New
CDNS Cadence Design SYS Inc. 0.14% 664 $233K No change
CLSK Cleanspark Inc. 0.14% 16,000 $232K New
MU Micron Technology Inc. 0.14% 1,411 $228K Reduce -27.6%
KEYS Keysight Technologies Inc. 0.14% 1,300 $227K No change
NOC Northrop Grumman Corp. 0.14% 361 $220K New
SPIN SS US Equity Prem Inc. ETF 0.13% 6,850 $216K New
BWXT BWX Technologies Inc. 0.13% 1,150 $212K New
MTZ Mastec Inc. 0.13% 990 $211K New
TEVA Teva Pharmaceutical-SP ADR 0.13% 10,400 $210K New
TSEM Tower Semiconductor Ltd. 0.13% 2,900 $210K New
PLTR Palantir Technologies Inc. Class A 0.12% 1,100 $201K New
PATH Uipath Inc. Class A 0.12% 14,370 $194K New
SOHO Sotherly Hotels Inc. 0.12% 232,901 $186K Reduce -13.6%
ESOA Energy Services of America 0.11% 17,100 $177K Reduce -74.5%
PRME Prime Medicine Inc. 0.09% 27,573 $153K New
CIFR Cipher Digital Inc. 0.09% 11,450 $144K New
CRVO Cervomed Inc. 0.08% 16,850 $136K Add +20.8%
MRAM Everspin Technologies Inc. 0.08% 14,050 $131K New
ASYS Amtech Systems Inc. 0.08% 13,250 $123K New
AMPG Amplitech Group Inc. 0.07% 29,488 $115K Reduce -54.9%
CDLX Cardlytics Inc. 0.07% 45,370 $111K New
GPRO Gopro Inc. Class A 0.07% 50,669 $105K New
NXDR Nextdoor Holdings Inc. 0.05% 42,088 $88K New
SMRT Smartrent Inc. 0.05% 53,999 $76K New
JELD Jeld-Wen Holding Inc. 0.04% 14,450 $71K New
RR Richtech Robotics Inc. Class B 0.04% 15,475 $68K New
LITS Lite Strategy Inc. 0.04% 24,971 $60K New
BTCS BTCS Inc. 0.04% 12,300 $59K New
SLND Southland Holdings Inc. 0.04% 13,500 $58K Add +8.0%
NTWK Netsol Technologies Inc. 0.03% 11,472 $54K New
VUZI Vuzix Corp. 0.03% 16,500 $52K Reduce -32.5%
LPRO Open Lending Corp. 0.03% 19,700 $42K New
SLI Standard Lithium Ltd. 0.03% 12,250 $41K Add +19.5%
TLRY Tilray Brands Inc. 0.02% 13,277 $30K Reduce -84.0%
INM Inmed Pharmaceuticals Inc. 0.01% 10,249 $22K New
GAME Gamesquare Hldgs Inc. 0.01% 26,254 $18K New
IGC Igc Pharma Inc. 0.00% 10,000 $4K New
Other holdings (1): bonds, preferreds, convertibles and warrants · $17K (not counted above)
SecurityClassShares / PrincipalValueChange
AMPGW Amplitech Group Inc.-CW26 *W EXP 02/26/202 43,000$17KNew

Total filed on the 13F, all lines: $162.0M.

Portfolio Sells Q2 2025 → Q3 2025
WMT Walmart Inc. Reduce -85.3% 0.42% −2.56
PSIX Power Solutions Internationa Reduce -88.3% 0.15% −0.76
DY Dycom Industries Inc. Reduce -55.7% 0.52% −0.57
ESOA Energy Services of America Reduce -74.5% 0.11% −0.35
CSCO Cisco Systems Inc. Sold out 0.00% −0.32
SFM Sprouts Farmers Market Inc. Sold out 0.00% −0.32
GLDD Great Lakes Dredge & Dock Co. Reduce -53.4% 0.20% −0.28
RDDT Reddit Inc. Class A Sold out 0.00% −0.26
VOO Vanguard S&P 500 ETF Reduce -8.4% 2.14% −0.25
LLY Eli Lilly & Co. Reduce -21.9% 0.57% −0.25
NX Quanex Building Products Sold out 0.00% −0.24
CDNA Caredx Inc. Sold out 0.00% −0.23
JEPI JPMorgan Equity Premium Inco Reduce -39.7% 0.27% −0.22
D Dominion Energy Inc. Sold out 0.00% −0.22
PROF Profound Medical Corp. Reduce -0.8% 0.63% −0.22
TRAK Repositrak Inc. Reduce -20.8% 0.23% −0.20
ORCL Oracle Corp. Reduce -52.2% 0.23% −0.18
CAVA Cava Group Inc. Sold out 0.00% −0.17
TOTL SS Doubleline TR Tact ETF Sold out 0.00% −0.17
COST Costco Wholesale Corp. Reduce -2.9% 0.77% −0.17
SPTI SS SPDR P Int Term TSY ETF Reduce -10.1% 0.73% −0.16
SDY SS SPDR S&P Dividend ETF Sold out 0.00% −0.16
LUNR Intuitive Machines Inc. Sold out 0.00% −0.16
BRK.B Berkshire Hathaway Inc. Class B Sold out 0.00% −0.16
AIG American International Group Sold out 0.00% −0.15
RING iShares MSCI Global Gold Min Sold out 0.00% −0.15
SN Sharkninja Inc. Sold out 0.00% −0.14
UBER Uber Technologies Inc. Reduce -18.9% 0.35% −0.12
CRWD CrowdStrike Holdings Inc. Class A Reduce -10.7% 0.38% −0.11
WGS Genedx Holdings Corp. Reduce -14.1% 0.99% −0.10
V Visa Inc. Class A Reduce -13.4% 0.27% −0.09
JOBY Joby Aviation Inc. Sold out 0.00% −0.07
WRAP Wrap Technologies Inc. Sold out 0.00% −0.07
SOHO Sotherly Hotels Inc. Reduce -13.6% 0.12% −0.06
WFC Wells Fargo & Co. Reduce -23.1% 0.15% −0.06
BFLY Butterfly Network Inc. Sold out 0.00% −0.05
TJX TJX Companies Inc. Reduce -17.6% 0.32% −0.05
LNG Cheniere Energy Inc. Reduce -0.5% 0.29% −0.04
XLP SS Consumer Staples Sel Sect Reduce -1.8% 0.27% −0.04
FLOT iShares Floating Rate Bond E Reduce -4.6% 0.26% −0.04
VTV Vanguard Mrngstr Val ETF-Aui Reduce -2.7% 0.52% −0.04
OESX Orion Energy Systems Inc. Sold out 0.00% −0.04
SYNX Silynxcom Ltd. Sold out 0.00% −0.04
IRIX Iridex Corp. Sold out 0.00% −0.03
BSIN Big SKY Industrial Inc. Sold out 0.00% −0.03
CVU Cpi Aerostructures Inc. Sold out 0.00% −0.03
QQQ Invesco QQQ Trust Series 1 Reduce -10.7% 0.22% −0.03
VRT Vertiv Holdings Co. Class A Reduce -16.7% 0.23% −0.03
PODC Podcastone Inc. Sold out 0.00% −0.03
SIF Sifco Industries Sold out 0.00% −0.03

Portfolio Buys Q2 2025 → Q3 2025
SMID Smith-Midland Corp. Add +3.3% 41.75% +1.17
COF Capital One Financial Corp. New 0.65% +0.65
TGEN Tecogen Inc./Waltham Ma New 0.64% +0.64
SMH Vaneck Semiconductor ETF New 0.55% +0.55
CSL Carlisle Cos Inc. Add +38.3% 5.87% +0.55
TPC Tutor Perini Corp. New 0.48% +0.48
NVDA Nvidia Corp. Add +49.2% 0.96% +0.36
IREN Iren Ltd. New 0.32% +0.32
GILT Gilat Satellite Networks Ltd. New 0.30% +0.30
TSLA Tesla Inc. Add +13.7% 0.73% +0.27
GOOG Alphabet Inc. Class C Add +44.3% 0.56% +0.25
LPTH Lightpath Technologies Inc. Class A Add +31.3% 0.28% +0.19
EME Emcor Group Inc. Add +36.9% 0.54% +0.18
UUUU Energy Fuels Inc. New 0.18% +0.18
IONQ Ionq Inc. New 0.17% +0.17
SLV iShares Silver Trust New 0.16% +0.16
SEI Solaris Energy Infrastructur New 0.16% +0.16
BW Babcock & Wilcox Enterpr Add +221.8% 0.17% +0.15
DIS The Walt Disney Co. New 0.15% +0.15
TSSI TSS Inc. New 0.15% +0.15
ET Energy Transfer LP New 0.15% +0.15
CLF Cleveland-Cliffs Inc. New 0.14% +0.14
SPYM Ste STR SPDR PT S&P 500 ETF Add +28.4% 0.71% +0.14
CLSK Cleanspark Inc. New 0.14% +0.14
FEIM Frequency Electronics Inc. Add +1.0% 0.52% +0.14
NOC Northrop Grumman Corp. New 0.14% +0.14
SPIN SS US Equity Prem Inc. ETF New 0.13% +0.13
BWXT BWX Technologies Inc. New 0.13% +0.13
MTZ Mastec Inc. New 0.13% +0.13
TEVA Teva Pharmaceutical-SP ADR New 0.13% +0.13
TSEM Tower Semiconductor Ltd. New 0.13% +0.13
PLTR Palantir Technologies Inc. Class A New 0.12% +0.12
PATH Uipath Inc. Class A New 0.12% +0.12
PL Planet Labs PBC Add +25.1% 0.20% +0.12
SHIM Shimmick Corp. Add +100.0% 0.18% +0.11
AAPL Apple Inc. Add +6.3% 0.76% +0.10
VIG Vanguard Dividend Apprec ETF Add +13.2% 1.27% +0.09
PRME Prime Medicine Inc. New 0.09% +0.09
VB Vanguard Most SM-Cap ETF-Usd Add +33.2% 0.41% +0.09
GOOGL Alphabet Inc. Class A Add +8.0% 0.36% +0.09
CIFR Cipher Digital Inc. New 0.09% +0.09
OUNZ Vaneck Merk Gold ETF Add +43.0% 0.26% +0.09
MRAM Everspin Technologies Inc. New 0.08% +0.08
ASYS Amtech Systems Inc. New 0.08% +0.08
CDLX Cardlytics Inc. New 0.07% +0.07
GPRO Gopro Inc. Class A New 0.07% +0.07
BB Blackberry Ltd. Add +10.0% 0.59% +0.06
MKL Markel Group Inc. Add +31.5% 0.44% +0.05
NXDR Nextdoor Holdings Inc. New 0.05% +0.05
AIQ Global X Art Intel & Tech Add +14.2% 0.36% +0.05

Notes & Other Activity Q2 2025 → Q3 2025
AMPGW Amplitech Group Inc.-CW26 *W EXP 02/26/202 New 43,000 $17K
MTEKW Maris - Tech Ltd. -23 *W EXP 02/04/202 Sold out 13,105 $4Kbefore exit
BAERW Wildfire New Pubco Inc.-27 *W EXP 01/24/202 Sold out 20,000 $2Kbefore exit

Bonds, preferreds, convertibles and warrants; not part of the stock holdings or percentages above.

All Filings

QuarterPositions13F Reported ValueTop Holdings
Q2 2026 168$167.2MSMID, CSL, DOV, JPST, VOO
Q1 2026 141$149.9MSMID, CSL, DOV, VOO, FIX
Q4 2025 156$167.0MSMID, CSL, DOV, VOO, SHW
Q3 2025 147$162.0MSMID, CSL, DOV, VOO, SHW
Q2 2025Amended 137$146.7MSMID, CSL, WMT, DOV, VOO
Q1 2025 122$126.8MSMID, CSL, DOV, VOO, SHW
Q4 2024 126$155.5MSMID, CSL, DOV, VOO, SHW
Q3 2024 123$135.4MSMID, CSL, DOV, SHW, VOO
Q2 2024 111$115.3MSMID, CSL, ESOA, DOV, VOO
Q1 2024 116$147.6MSMID, ESOA, CSL, DOV, SHW