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THOMPSON INVESTMENT MANAGEMENT, INC.

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13F filer, CIK 1277279, MADISON, WI

THOMPSON INVESTMENT MANAGEMENT, INC. reported $797,718,614 across 522 holdings for the quarter ended 2025-12-31, in a 13F-HR filed 2026-01-14. Its ten largest share positions make up 27.35% of the portfolio.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001277279-26-000002

Period
2025-12-31
Reported value
$798M
Holdings
522
Top 10 weight
27.35%
New
27
Sold out
23

Largest buys vs the previous quarter

SecurityShares changeApprox. value
CRMadded+13,459$3.57M
AREadded+59,613$2.92M
CLXnew+26,314$2.65M
FISVadded+39,232$2.64M
CNXCadded+58,251$2.42M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
LITEreduced-40,676-$15M
EXASreduced-63,758-$6.48M
GOOGLreduced-17,569-$5.5M
COHRreduced-21,643-$3.99M
WBDreduced-124,857-$3.6M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q4 2025

Share positions as resolved from 13F-HR 0001277279-26-000002, largest first. % of portfolio is the value over $797,718,614, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
HOGHARLEY DAVIDSON INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 33 shares; 2025Q1: 33 shares; 2025Q2: 33 shares; 2025Q3: 33 shares; 2025Q4: 33 shares 33$676<0.01%0Timeline
DXCDXC TECHNOLOGY COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 45 shares 45$659<0.01%newTimeline
REIRING ENERGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 734 shares; 2025Q1: 734 shares; 2025Q2: 734 shares; 2025Q3: 734 shares; 2025Q4: 734 shares 734$639<0.01%0Timeline
CGRACGROWTH CAPITAL INC COM STK (DQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 200,000 shares 200,000$620<0.01%newTimeline
OGNORGANON & COQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 82 shares; 2025Q1: 82 shares; 2025Q2: 82 shares; 2025Q3: 82 shares; 2025Q4: 82 shares 82$588<0.01%0Timeline
UFPIUFP INDUSTRIES INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 6 shares; 2025Q1: 6 shares; 2025Q2: 6 shares; 2025Q3: 6 shares; 2025Q4: 6 shares 6$546<0.01%0Timeline
XYZBLOCK INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 8 shares; 2025Q1: 8 shares; 2025Q2: 826 shares; 2025Q3: 8 shares; 2025Q4: 8 shares 8$521<0.01%0Timeline
BTCGRAYSCALE BITCOIN MINI TR ETQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 12 shares; 2025Q1: 12 shares; 2025Q2: 12 shares; 2025Q3: 12 shares; 2025Q4: 12 shares 12$465<0.01%0Timeline
HIGHLANDS REIT INCHIGHLANDS REIT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 7,184 shares; 2025Q1: 7,184 shares; 2025Q2: 7,184 shares; 2025Q3: 7,184 shares; 2025Q4: 7,184 shares 7,184$417<0.01%0
CANNTREES CORPORATION COMMON STOCKQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 10,000 shares; 2025Q1: 10,000 shares; 2025Q2: 10,000 shares; 2025Q3: 10,000 shares; 2025Q4: 10,000 shares 10,000$351<0.01%0Timeline
ELMEELME COMMUNITIESQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 20 shares; 2025Q1: 20 shares; 2025Q2: 20 shares; 2025Q3: 20 shares; 2025Q4: 20 shares 20$348<0.01%0Timeline
FGF&G ANNUITIES & LIFE INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: not reported; 2025Q4: 11 shares 11$342<0.01%newTimeline
NIONIO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 50 shares; 2025Q1: 50 shares; 2025Q2: 50 shares; 2025Q3: 50 shares; 2025Q4: 50 shares 50$255<0.01%0Timeline
PEJINVESCO EXCHANGE TRADED FD TQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 4 shares; 2025Q1: 4 shares; 2025Q2: 4 shares; 2025Q3: 4 shares; 2025Q4: 4 shares 4$245<0.01%0Timeline
WPRTWESTPORT FUEL SYSTEMS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 125 shares; 2025Q1: 125 shares; 2025Q2: 125 shares; 2025Q3: 125 shares; 2025Q4: 125 shares 125$196<0.01%0Timeline
TBHCTHE BRAND HOUSE COLLECTIVE IQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 100 shares; 2025Q1: 100 shares; 2025Q2: 100 shares; 2025Q3: 100 shares; 2025Q4: 100 shares 100$110<0.01%0Timeline
SYMBOLIC LOGIC INCSYMBOLIC LOGIC INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 232 shares; 2025Q4: 232 shares 232$100<0.01%0
SPCEVIRGIN GALACTIC HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 8 shares; 2025Q1: 8 shares; 2025Q2: 8 shares; 2025Q3: 8 shares; 2025Q4: 8 shares 8$26<0.01%0Timeline
INOINOVIO PHARMACEUTICALS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 13 shares; 2025Q1: 13 shares; 2025Q2: 13 shares; 2025Q3: 13 shares; 2025Q4: 13 shares 13$23<0.01%0Timeline
ACCESS POWER & CO INCACCESS POWER & CO INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: 200 shares; 2025Q1: 200 shares; 2025Q2: 200 shares; 2025Q3: 200 shares; 2025Q4: 200 shares 200$1<0.01%0
Sycamore Partners DAP RightSycamore Partners DAP RightQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: restricted; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: not reported; 2025Q3: 708,841 shares; 2025Q4: 703,545 shares 703,545$00%-5,296Value filed as zero, left out of ratios.

Principal amounts

Notes and convertibles filed as a face amount (PRN). A face amount is never added to a share count (H6).

SecurityTypeAmountValueChange
REDWOOD TRUST INCREDWOOD TRUST INC Convertibleprincipal50,000$49.8K0

Sold out in Q4 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
PREMIER INCPREMIER INC26,030$724Kshares
ACHCACADIA HEALTHCARE COMPANY IN6,285$156Kshares
HIHILLENBRAND INC5,585$151Kshares
FEDNAT HLDG COFEDNAT HLDG CO5,000,000$100Kprincipal
UNILEVER PLCUNILEVER PLC1,046$62Kshares
CALYCALLAWAY GOLF CO6,455$61.3Kshares
CRSPCRISPR THERAPEUTICS AG515$33.4Kshares
SNNSMITH & NEPHEW PLC787$28.6Kshares
IRMIRON MTN INC DEL264$26.9Kshares
KKELLANOVA186$15.3Kshares
OSKOSHKOSH CORP16$2.02Kshares
CRUSCIRRUS LOGIC INC13$1.6Kshares
BMIBADGER METER INC8$1.47Kshares
SCSSTEELCASE INC-CLASS A75$1.29Kshares
ECGEVERUS CONSTR GROUP15$1.26Kshares
BAHBOOZ ALLEN HAMILTON HLDG COR8$846shares
KNFKNIFE RIVER CORP9$718shares
NLOPNET LEASE OFFICE PROPERTIES23$682shares
TTNDYTECHTRONIC INDUSTRIES-SP ADR10$638shares
STMSTMICROELECTRONICS N V21$587shares
RCLROYAL CARIBBEAN GROUP1$327shares
MDUMDU RES GROUP INC14$250shares
RXORXO INC13$199shares

How Q4 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001277279-26-000002 base2026-01-14acceptance time not in the bulk data set