THAMES CAPITAL MANAGEMENT LLC
Long book
$557.9M
Q1 2026
Positions
43
Top-10 weight
44%
concentration
Last quarter
+39.3%
SPY +14.8%
Turnover
51%
of book per quarter
Strategy in plain words
auto-generated from filingsTHAMES CAPITAL MANAGEMENT LLC is a diversified fundamental manager, running a $557.9M US long book across 43 positions.
The portfolio is moderately concentrated (top 10 ≈ 44% of the book). Turnover is high — positions rotate quickly, so individual names matter less than the process. Current anchor positions: GE VERNOVA INC, VERTIV HOLDINGS CO-A, TAIWAN SEMICONDUCTOR-SP ADR, NVIDIA CORP, HUT 8 CORP.
Over the last 9 quarters its long book ran on average 5pp per quarter ahead of the S&P 500, beating the index in 6 of 9 quarters. We rate its filings as signal-bearing: position changes reflect genuine views.
Implied long-book return vs S&P 500
methodology: positions priced quarterly, no shorts/options Fund long book S&P 500
Q1 2024
+4.0%
Q2 2024
+6.7%
Q3 2024
+5.6%
Q4 2024
-8.8%
Q1 2025
+24.5%
Q2 2025
+10.8%
Q3 2025
-0.9%
Q4 2025
+4.5%
Q1 2026
+39.3%
Sector allocation
Technology 50%
Industrials 23%
Financials 13%
Services media 7%
Other 4%
Healthcare 2%
Communications 1%
Materials 1%
Long book by quarter
What does THAMES CAPITAL own?
Q1 2026 13F| Company | Sector | Shares | Value | % of book | Change |
|---|---|---|---|---|---|
| GEV GE VERNOVA INC | Industrials | 50.4K | $44.0M | 7.9% | -7.4% |
| VRT VERTIV HOLDINGS CO-A | Technology | 165.2K | $41.4M | 7.4% | -7.7% |
| NVDA NVIDIA CORP | Technology | 116.2K | $20.3M | 3.6% | -31.2% |
| HUT HUT 8 CORP | Financials | 425.3K | $20.0M | 3.6% | -19.5% |
| AGX ARGAN INC | Industrials | 36.5K | $19.9M | 3.6% | -29.6% |
| APH AMPHENOL CORP-CL A | Technology | 145.7K | $18.4M | 3.3% | -4.6% |
| FN FABRINET | Technology | 34.6K | $18.0M | 3.2% | New |
| GE GENERAL ELECTRIC | Industrials | 62.1K | $17.6M | 3.2% | Held |
| MA MASTERCARD INC - A | Services media | 34.7K | $17.3M | 3.1% | -9.2% |
| STT STATE STREET CORP | Financials | 136.3K | $17.3M | 3.1% | -48.0% |
| MU MICRON TECHNOLOGY INC | Technology | 50.2K | $17.0M | 3.0% | -31.1% |
| AAPL APPLE INC | Technology | 61.8K | $15.7M | 2.8% | Held |
| MKSI MKS INC | Technology | 67.7K | $15.6M | 2.8% | New |
| ONDS ONDAS INC | Technology | 1.6M | $14.6M | 2.6% | +1.1% |
| SNDK SANDISK CORP | Technology | 22.6K | $14.4M | 2.6% | Held |
| PRIM PRIMORIS SERVICES CORP | Industrials | 100.0K | $14.3M | 2.6% | Held |
| META META PLATFORMS INC-CLASS A | Technology | 24.8K | $14.2M | 2.5% | -26.6% |
| FIX COMFORT SYSTEMS USA INC | Industrials | 10.1K | $13.9M | 2.5% | +9.0% |
| V VISA INC-CLASS A SHARES | Services media | 45.7K | $13.8M | 2.5% | -11.5% |
| RKT ROCKET COS INC-CLASS A | Financials | 932.3K | $13.3M | 2.4% | -0.7% |
| COHR COHERENT CORP | Other | 54.6K | $13.0M | 2.3% | -34.4% |
| DOCN DIGITALOCEAN HOLDINGS INC | Technology | 146.0K | $12.5M | 2.2% | New |
| AEIS ADVANCED ENERGY INDUSTRIES | Technology | 38.3K | $12.3M | 2.2% | New |
| WULF TERAWULF INC | Financials | 785.9K | $11.3M | 2.0% | +2.0% |
| BKD BROOKDALE SENIOR LIVING INC | Healthcare | 757.7K | $10.4M | 1.9% | +42.6% |
| AMPX AMPRIUS TECHNOLOGIES INC | Technology | 526.8K | $8.9M | 1.6% | Held |
| LITE LUMENTUM HOLDINGS INC | Technology | 12.3K | $8.6M | 1.5% | New |
| SPOT SPOTIFY TECHNOLOGY SA | Communications | 14.8K | $7.2M | 1.3% | -46.8% |
| TMO THERMO FISHER SCIENTIFIC INC | Other | 13.2K | $6.5M | 1.2% | Held |
| STRL STERLING INFRASTRUCTURE INC | Industrials | 15.7K | $6.4M | 1.1% | New |
| AAOI APPLIED OPTOELECTRONICS INC | Technology | 74.3K | $6.3M | 1.1% | New |
| CLS CELESTICA INC | Technology | 19.7K | $5.5M | 1.0% | Held |
| AIP ARTERIS INC | Technology | 294.0K | $4.8M | 0.9% | Held |
| IREN IREN LTD | Financials | 138.4K | $4.7M | 0.9% | New |
| MTSI MACOM TECHNOLOGY SOLUTIONS H | Technology | 18.0K | $4.0M | 0.7% | New |
| UBER UBER TECHNOLOGIES INC | Services media | 53.6K | $3.9M | 0.7% | -49.1% |
| IDR IDAHO STRATEGIC RESOURCES IN | Materials | 91.9K | $3.0M | 0.5% | Held |
| QS QUANTUMSCAPE CORP | Technology | 369.7K | $2.4M | 0.4% | Held |
| JBL JABIL INC | Technology | 8.9K | $2.4M | 0.4% | New |
| TTI TETRA TECHNOLOGIES INC | Energy | 116.2K | $990K | 0.2% | New |
13F filing history
| Period | Form | Filed | Entries | Reported value | Flags | Source |
|---|---|---|---|---|---|---|
| Q1 2026 | 13F-HR | May 12, 2026 | 43 | $557.9M | canonical | SEC ↗ |
| Q4 2025 | 13F-HR | Feb 10, 2026 | 48 | $687.8M | canonical | SEC ↗ |
| Q3 2025 | 13F-HR | Oct 28, 2025 | 58 | $700.8M | canonical | SEC ↗ |
| Q2 2025 | 13F-HR | Aug 11, 2025 | 43 | $441.4M | canonical | SEC ↗ |
| Q1 2025 | 13F-HR | May 13, 2025 | 28 | $260.4M | canonical | SEC ↗ |
| Q4 2024 | 13F-HR | Feb 13, 2025 | 37 | $368.9M | canonical | SEC ↗ |
| Q3 2024 | 13F-HR | Nov 14, 2024 | 38 | $321.0M | canonical | SEC ↗ |
| Q2 2024 | 13F-HR | Aug 13, 2024 | 25 | $255.4M | canonical | SEC ↗ |
| Q1 2024 | 13F-HR | May 14, 2024 | 24 | $240.3M | canonical | SEC ↗ |
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