Thor Investment Management Inc. /Oh/ In its 13F for Q2 2025 (holdings as of June 30, 2025, filed July 9, 2026), Thor Investment Management Inc. /Oh/ reported 40 stock positions worth $147.3 million . Its top holding was Vaneck Junior Gold Miners (GDXJ) at 19.4% of the portfolio, followed by Quadratic Int Rte Vol Infl H (IVOL, 16.7% ) and Cheniere Energy (LNG, 5.1% ). Compared with Q1 2025, it opened 5 new positions, added to 20 and reduced 14. The biggest buy was Applied Digital (APLD, shares +5% ) and the biggest sale Quadratic Int Rte Vol Infl H (IVOL, shares −0% ).
Location CINCINNATI, OH
CIK 0000883734
Portfolio Value $147.3M (Q2 2025) Holdings 40 stocks · $147.3M Holdings quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock % Of Portfolio ▼ Shares Held Total Value Change vs Q1 2025 GDXJ Vaneck Junior Gold Miners 423,610 $28.6M Reduce -7.1% IVOL Quadratic Int Rte Vol Infl H 1,258,691 $24.6M Reduce -0.1% LNG Cheniere Energy Inc. 31,001 $7.5M Reduce -0.3% MLPX Global X MLP & Energy Infras 108,116 $6.8M Add +2.6% GILD Gilead Sciences Inc. 52,440 $5.8M Add +0.4% GDDY GoDaddy Inc. Class A 28,823 $5.2M Reduce -0.6% COM Direxion Auspice BRD Cmdty 184,857 $5.1M Reduce -0.9% VRT Vertiv Holdings Co. Class A 37,399 $4.8M Add +0.1% APLD Applied Digital Corp. 449,838 $4.5M Add +5.5% PBF PBF Energy Inc. Class A 203,231 $4.4M Add +13.5% BMY Bristol-Myers Squibb Co. 88,840 $4.1M Add +2.1% AER Aercap Holdings NV 33,866 $4.0M Add +2.4% GNRC Generac Holdings Inc. 25,725 $3.7M Add +1.3% ASO Academy Sports & Outdoors Inc. 73,554 $3.3M Add +2.6% ICE Intercontinental Exchange Inc. 17,638 $3.2M Add +0.2% NOMD Nomad Foods Ltd. 171,208 $2.9M Add +1.9% HAS Hasbro Inc. 34,517 $2.5M Add +0.8% SGDM Sprott Gold Miners ETF 48,817 $2.2M Reduce -4.3% PUMP Propetro Holding Corp. 321,653 $1.9M Add +10.3% OEC Orion SA 179,185 $1.9M Add +4.2% MLPA Global X MLP ETF 37,370 $1.9M Add +0.2% KLAC KLA Corp. 2,068 $1.9M Add +0.1% GDX Vaneck Gold Miners ETF 34,513 $1.8M Reduce -3.1% CRM Salesforce Inc. 5,563 $1.5M Add +2.2% OSW Onespaworld Holdings Ltd. 73,910 $1.5M New PG The Procter & Gamble Co. 9,105 $1.5M Reduce -3.6% LKQ LKQ Corp. 38,110 $1.4M Add +1.1% ROP Roper Technologies Inc. 2,336 $1.3M New APTV Aptiv PLC 19,396 $1.3M Reduce -0.9% DBMF Imgp Dbi MFT STR ETF-Usd Inc. 43,260 $1.1M Add +0.7% SCHW Schwab (charles) Corp. 10,740 $980K Add +0.3% ICLR Icon PLC 6,374 $927K Reduce -30.2% BIIB Biogen Inc. 7,239 $909K Reduce -34.0% EEMS iShares MSCI Emerging MKT SM 6,679 $433K Reduce -3.9% AVDV Avantis Intl S/C Value ETF 5,373 $426K Reduce -53.8% VTV Vanguard Mrngstr Val ETF-Aui 2,035 $360K No change TNGY Tortoise Energy ETF 27,754 $255K New AAPL Apple Inc. 1,086 $223K Reduce -9.1% EME Emcor Group Inc. 410 $219K New IJH iShares Core S&P Midcap ETF 3,400 $211K New
Options reported separately and not counted above: GDXJ calls ($68K), GILD calls ($33K), PBF calls ($28K), BMY calls ($23K), APTV calls ($14K).
Portfolio Sells Q1 2025 → Q2 2025 Portfolio Sells quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▲ IVOL Quadratic Int Rte Vol Infl H Reduce -0.1% 16.71% −0.56 COM Direxion Auspice BRD Cmdty Reduce -0.9% 3.47% −0.55 ICLR Icon PLC Reduce -30.2% 0.63% −0.54 BIIB Biogen Inc. Reduce -34.0% 0.62% −0.48 GDDY GoDaddy Inc. Class A Reduce -0.6% 3.52% −0.31 AVDV Avantis Intl S/C Value ETF Reduce -53.8% 0.29% −0.31 PG The Procter & Gamble Co. Reduce -3.6% 0.98% −0.20 LNG Cheniere Energy Inc. Reduce -0.3% 5.13% −0.16 AAPL Apple Inc. Reduce -9.1% 0.15% −0.04 EEMS iShares MSCI Emerging MKT SM Reduce -3.9% 0.29% +0.01 GDX Vaneck Gold Miners ETF Reduce -3.1% 1.22% +0.02 APTV Aptiv PLC Reduce -0.9% 0.90% +0.04 SGDM Sprott Gold Miners ETF Reduce -4.3% 1.50% +0.08 GDXJ Vaneck Junior Gold Miners Reduce -7.1% 19.44% +0.29
Portfolio Buys Q1 2025 → Q2 2025 Portfolio Buys quarter Q2 2026 Q1 2026 Q4 2025 Q3 2025 Q2 2025 Q1 2025 Q4 2024 Q3 2024 Q2 2024 Q1 2024
Stock Change vs Q1 2025 % Of Portfolio Change To Portfolio ▼ APLD Applied Digital Corp. Add +5.5% 3.08% +1.32 VRT Vertiv Holdings Co. Class A Add +0.1% 3.26% +1.28 OSW Onespaworld Holdings Ltd. New 1.02% +1.02 ROP Roper Technologies Inc. New 0.90% +0.90 PBF PBF Energy Inc. Class A Add +13.5% 2.99% +0.48 KLAC KLA Corp. Add +0.1% 1.26% +0.23 AER Aercap Holdings NV Add +2.4% 2.69% +0.21 HAS Hasbro Inc. Add +0.8% 1.73% +0.18 TNGY Tortoise Energy ETF New 0.17% +0.17 EME Emcor Group Inc. New 0.15% +0.15 IJH iShares Core S&P Midcap ETF New 0.14% +0.14 GNRC Generac Holdings Inc. Add +1.3% 2.50% +0.14 SCHW Schwab (charles) Corp. Add +0.3% 0.67% +0.05 ICE Intercontinental Exchange Inc. Add +0.2% 2.20% −0.03 DBMF Imgp Dbi MFT STR ETF-Usd Inc. Add +0.7% 0.76% −0.04 CRM Salesforce Inc. Add +2.2% 1.03% −0.04 ASO Academy Sports & Outdoors Inc. Add +2.6% 2.24% −0.16 MLPA Global X MLP ETF Add +0.2% 1.27% −0.18 LKQ LKQ Corp. Add +1.1% 0.96% −0.22 PUMP Propetro Holding Corp. Add +10.3% 1.30% −0.27 MLPX Global X MLP & Energy Infras Add +2.6% 4.60% −0.34 GILD Gilead Sciences Inc. Add +0.4% 3.95% −0.35 OEC Orion SA Add +4.2% 1.28% −0.36 NOMD Nomad Foods Ltd. Add +1.9% 1.97% −0.45 BMY Bristol-Myers Squibb Co. Add +2.1% 2.79% −1.10
Options Activity Q1 2025 → Q2 2025 Security Type Change vs Q1 2025 Underlying Shares Value ▼ GDXJ Vaneck Junior Gold Miners call Reduce -16.7% 1,000 $68K GILD Gilead Sciences Inc. call Reduce -25.0% 300 $33K BMY Bristol-Myers Squibb Co. call Add +150.0% 500 $23K
Calls and puts are listed by the shares they cover; their value is not part of the stock holdings above.
All Filings Quarter Positions 13F Reported Value Top Holdings Q2 2026 48 $175.5M GDXJ, IVOL, VRT, APLD, PUMP Q1 2026 42 $188.1M GDXJ, IVOL, APLD, PUMP, LNG Q4 2025 39 $174.3M GDXJ, IVOL, APLD, MLPX, GILD Q3 2025 40 $166.0M GDXJ, IVOL, APLD, MLPX, LNG Q2 2025 40 $147.3M GDXJ, IVOL, LNG, MLPX, GILD Q1 2025 35 $136.2M GDXJ, IVOL, LNG, MLPX, GILD Q4 2024 40 $129.8M IVOL, GDXJ, LNG, MLPX, GDDY Q3 2024 43 $137.0M IVOL, GDXJ, GDDY, MLPX, LNG Q2 2024 42 $127.3M IVOL, GDXJ, GDDY, COM, MLPX Q1 2024 42 $126.1M IVOL, GDXJ, AER, PBF, GDDY