THOR INDS INC THO
COM · Common Stock · CUSIP 885160101 · ISIN US8851601018
American recreational vehicle manufacturer
- SectorConsumer discretionary
- IndustryMotor Homes
- HeadquartersElkhart, IN
- Founded1980
- Websitethorindustries.com
- FilingsSEC EDGAR
* Summed across managers. Shares that two managers' reports both contain – a subsidiary's holdings that its parent's report includes too, or a sub-adviser's in its client's – are counted once ($7.1m this quarter). Holder counts are more reliable. Shares outstanding: 52.6m as of 2025-09-16, from the company's own SEC filing; the percentage can still exceed 100%: lent-out shares are counted by the lender and the buyer, and some reports overlap without saying so. Implied quarter-end price ≈ $103.69. Options: 13 managers hold calls ($88.4m notional), 14 hold puts ($50.7m).
Trends to Q3 2025
Institutional holders
Managers reporting a position, each quarter
Numbers
| Quarter | Holders |
|---|---|
| Q3 2022 | 400 |
| Q4 2022 | 400 |
| Q1 2023 | 397 |
| Q2 2023 | 403 |
| Q3 2023 | 402 |
| Q4 2023 | 423 |
| Q1 2024 | 411 |
| Q2 2024 | 408 |
| Q3 2024 | 431 |
| Q4 2024 | 422 |
| Q1 2025 | 407 |
| Q2 2025 | 405 |
| Q3 2025 | 418 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| Q4 2023 | 178 | 215 |
| Q1 2024 | 184 | 200 |
| Q2 2024 | 192 | 214 |
| Q3 2024 | 216 | 186 |
| Q4 2024 | 173 | 210 |
| Q1 2025 | 188 | 214 |
| Q2 2025 | 213 | 185 |
| Q3 2025 | 185 | 185 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q4 2024 | $63.1m | $42.7m | 0.68 |
| Q1 2025 | $42.8m | $39.3m | 0.92 |
| Q2 2025 | $24.6m | $87.3m | 3.54 |
| Q3 2025 | $88.4m | $50.7m | 0.57 |
Biggest buyers
| JPMORGAN CHASE & CO | Added | +1.2m |
| MORGAN STANLEY | Added | +642.2k |
| Driehaus Capital Management LLC | New | +430.0k |
| AMERICAN CENTURY COMPANIES INC | Added | +195.4k |
| Gotham Asset Management, LLC | Added | +113.3k |
| RENAISSANCE TECHNOLOGIES LLC | New | +86.3k |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP | New | +84.1k |
| Cerity Partners LLC | New | +76.4k |
| Man Group plc | Added | +61.4k |
| GEODE CAPITAL MANAGEMENT, LLC | Added | +52.4k |
Biggest sellers
| Southpoint Capital Advisors LP | Sold out | -1.0m |
| Capital Research Global Investors | Reduced | -755.9k |
| ROYAL LONDON ASSET MANAGEMENT LTD | Reduced | -464.7k |
| ROYAL BANK OF CANADA | Reduced | -431.5k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC | Reduced | -396.1k |
| LAZARD ASSET MANAGEMENT LLC | Reduced | -383.1k |
| GOLDMAN SACHS GROUP INC | Reduced | -365.7k |
| HARRIS ASSOCIATES L P | Reduced | -244.9k |
| UBS Group AG | Reduced | -238.2k |
| Balyasny Asset Management L.P. | Reduced | -226.0k |
Biggest calls
| CITADEL ADVISORS LLC | Added | $21.0m202.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Added | $19.6m188.7k shares |
| JPMORGAN CHASE & CO | New | $14.5m140.0k shares |
| PEAK6 LLC | New | $8.7m84.2k shares |
| UBS Group AG | New | $5.4m52.0k shares |
| JANE STREET GROUP, LLC | Added | $5.0m48.0k shares |
| IMC-Chicago, LLC | Added | $4.7m45.8k shares |
| Squarepoint Ops LLC | Added | $3.7m35.7k shares |
| WOLVERINE TRADING, LLC | Added | $2.3m21.8k shares |
| Walleye Trading LLC | Added | $1.3m12.6k shares |
Biggest puts
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $14.5m139.4k shares |
| JPMORGAN CHASE & CO | New | $9.6m92.4k shares |
| CITADEL ADVISORS LLC | Reduced | $8.3m80.4k shares |
| JANE STREET GROUP, LLC | Reduced | $6.0m58.2k shares |
| IMC-Chicago, LLC | Added | $3.4m32.4k shares |
| SIMPLEX TRADING, LLC | Added | $2.5m23.7k shares |
| Walleye Trading LLC | Added | $2.2m21.6k shares |
| Sender Co & Partners, Inc. | New | $1.8m17.2k shares |
| WOLVERINE TRADING, LLC | Reduced | $1.5m14.5k shares |
| Point72 Asset Management, L.P. | Unchanged | $331.8k3.2k shares |
Options at notional value: the value of the shares the contracts control, as filers report them, not what the options cost. Not included in the holders, shares or buying above.
Major shareholders (over 5%)
Anyone who owns more than 5% of a class of the company's shares has to say so: on Schedule 13D if they may try to influence or control the company, on 13G if they're a passive investor, and update it as the stake changes. Each holder's latest filing, from 19 Dec 2024 on; percentages are of the share class, as the holder worked them out.
| Holder | Stake |
|---|---|
| ACR Alpine Capital Research, LLC 13G · passive investor +1.2 pts · filed 2026-10-19 | 11.2% |
| Life Cycle Investment Partners Ltd 13G · institution +1.7 pts · filed 2026-08-13 | 7.9% |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 13G · institution -1.9 pts · filed 2026-08-13 | 7.0% |
| VANGUARD CAPITAL MANAGEMENT LLC 13G · institution new · filed 2026-04-30 | 5.1% |
| VANGUARD PORTFOLIO MANAGEMENT LLC 13G · institution new · filed 2026-04-29 | 5.0% |
| TIMUCUAN ASSET MANAGEMENT INC/FL 13G · institution new · filed 2025-08-01 | 5.0% |
Fell to 5% or below in the last year: VANGUARD GROUP INC (0.0%, 2026-03-27; now reported by VANGUARD CAPITAL MANAGEMENT LLC)
Insider purchases and sales in Q3 2025
Shares bought or sold by the company's own officers, directors and 10% owners, in the open market or privately, as they reported to the SEC on Form 4 (due within two business days of the trade). Grants, option exercises, shares withheld for tax and gifts aren't included.
Officers and directors buying vs selling
Number of people, by quarter (10% owners not included)
Numbers
| Quarter | Buying | Bought | Selling | Sold | Sold under a plan |
|---|---|---|---|---|---|
| Q4 2023 | 0 | — | 0 | — | — |
| Q1 2024 | 0 | — | 1 | $1.1m | $1.1m |
| Q2 2024 | 0 | — | 0 | — | — |
| Q3 2024 | 0 | — | 0 | — | — |
| Q4 2024 | 0 | — | 1 | $500.7k | $500.7k |
| Q1 2025 | 0 | — | 0 | — | — |
| Q2 2025 | 1 | $256.2k | 0 | — | — |
| Q3 2025 | 0 | — | 0 | — | — |
None reported in Q3 2025.
Holders, Q3 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 5.3m $553.4m | Reduced -46.1k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 1.29% of their portfolio | 5.1m $529.4m | Reduced -102.0k |
| BlackRock, Inc. 0.01% of their portfolio | 4.7m $483.3m | Reduced -58.4k |
| ACR Alpine Capital Research, LLC 7.28% of their portfolio | 4.1m $425.9m | Reduced -158.0k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 3.0m $311.3m | Added +29.1k |
| TIMUCUAN ASSET MANAGEMENT INC/FL 8.08% of their portfolio | 2.7m $275.7m | Reduced -16.0k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 2.6m $272.2m | Added +1.2m |
| STATE STREET CORP 0.01% of their portfolio | 1.7m $173.1m | Reduced -28.7k |
| Capital Research Global Investors 0.03% of their portfolio | 1.5m $159.0m | Reduced -755.9k |
| AMERICAN CENTURY COMPANIES INC 0.07% of their portfolio | 1.4m $141.2m | Added +195.4k |
| Madison Asset Management, LLC 1.26% of their portfolio | 1.1m $114.3m | Reduced -11.2k |
| HARRIS ASSOCIATES L P 0.18% of their portfolio | 1.1m $112.2m | Reduced -244.9k |
| MORGAN STANLEY 0.01% of their portfolio | 990.9k $102.7m | Added +642.2k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 961.9k $99.8m | Added +52.4k |
| ENVESTNET ASSET MANAGEMENT INC 0.03% of their portfolio | 847.8k $87.9m | Added +4.8k |
| NATIXIS ADVISORS, LLC 0.10% of their portfolio | 686.3k $71.2m | Added +35.3k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 680.9k $70.6m | Reduced -431.5k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 677.9k $70.3m | Reduced -18.3k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.77% of their portfolio | 671.5k $69.6m | Reduced -1.2k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 647.5k $67.1m | Added +18.0k |
| JANUS HENDERSON GROUP PLC 0.03% of their portfolio | 577.6k $59.9m | Reduced -8.6k |
| Candlestick Capital Management LP 2.22% of their portfolio | 551.5k $57.2m | Reduced -91.3k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 517.1k $53.6m | Reduced -13.5k |
| DEPRINCE RACE & ZOLLO INC 1.01% of their portfolio | 487.0k $50.5m | Reduced -185.2k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 476.8k $49.4m | Reduced -18.7k |
| Balyasny Asset Management L.P. 0.10% of their portfolio | 469.6k $48.7m | Reduced -226.0k |
| Driehaus Capital Management LLC 0.32% of their portfolio | 430.0k $44.6m | New |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 419.7k $43.5m | Reduced -11.0k |
| Gotham Asset Management, LLC 0.17% of their portfolio | 381.1k $39.5m | Added +113.3k |
| ProShare Advisors LLC 0.08% of their portfolio | 372.3k $38.6m | Reduced -82.5k |
| GOLDMAN SACHS GROUP INC 0.01% of their portfolio | 369.6k $38.3m | Reduced -365.7k |
| CHOREO, LLC 0.48% of their portfolio | 358.9k $37.2m | Added +447 |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.06% of their portfolio | 269.2k $27.9m | Reduced -464.7k |
| UBS Group AG 0.01% of their portfolio | 247.5k $25.7m | Reduced -238.2k |
| Pacer Advisors, Inc. 0.06% of their portfolio | 241.9k $25.1m | Reduced -104.6k |
| VALUE HOLDINGS MANAGEMENT CO. LLC 3.25% of their portfolio | 195.5k $20.3m | Unchanged |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 193.3k $20.0m | Reduced -5.9k |
| Maple Rock Capital Partners Inc. 0.77% of their portfolio | 183.7k $19.0m | Unchanged |
| Invesco Ltd. 0.00% of their portfolio | 176.2k $18.3m | Added +10.1k |
| LAZARD ASSET MANAGEMENT LLC 0.02% of their portfolio | 174.1k $18.1m | Reduced -383.1k |
| HEARTLAND ADVISORS INC 0.93% of their portfolio | 169.8k $17.6m | Reduced -27.4k |
| Janney Montgomery Scott LLC 0.04% of their portfolio | 152.0k $15.8m | Added +2.5k |
| SOUTHERNSUN ASSET MANAGEMENT, LLC 2.03% of their portfolio | 151.0k $15.7m | Reduced -3.3k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 146.3k $15.2m | Reduced -1.1k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 146.2k $15.2m | Reduced -396.1k |
| QV Investors Inc. 1.20% of their portfolio | 133.5k $13.8m | Reduced -47.5k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 118.7k $12.3m | Reduced -9.3k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 118.2k $12.3m | Reduced -2.4k |
| Atria Investments, Inc 0.14% of their portfolio | 117.3k $12.2m | Reduced -4.5k |
| Quantinno Capital Management LP 0.03% of their portfolio | 116.6k $12.1m | Added +31.6k |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 115.8k $12.0m | Added +9.2k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 115.5k $12.0m | Added +12.2k |
| Legal & General Group Plc 0.00% of their portfolio | 104.4k $10.8m | Reduced -11.2k |
| TWO SIGMA INVESTMENTS, LP 0.02% of their portfolio | 99.5k $10.3m | Reduced -17.8k |
| Swiss National Bank 0.01% of their portfolio | 98.0k $10.2m | Added +1.5k |
| SPROTT INC. 0.37% of their portfolio | 95.0k $9.9m | Unchanged |
| California Public Employees Retirement System 0.01% of their portfolio | 94.0k $9.7m | Added +2.3k |
| Trexquant Investment LP 0.10% of their portfolio | 94.0k $9.7m | Reduced -12.1k |
| Nuveen, LLC 0.00% of their portfolio | 90.8k $9.4m | Reduced -150 |
| Mariner, LLC 0.01% of their portfolio | 90.5k $9.4m | Added +4.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 88.6k $9.2m | Added +4.8k |
| RENAISSANCE TECHNOLOGIES LLC 0.01% of their portfolio | 86.3k $8.9m | New |
| ARROWSTREET CAPITAL, LIMITED PARTNERSHIP 0.01% of their portfolio | 84.1k $8.7m | New |
| Man Group plc 0.02% of their portfolio | 77.6k $8.0m | Added +61.4k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 76.9k $8.0m | Reduced -13.9k |
| Cerity Partners LLC 0.01% of their portfolio | 76.4k $7.9m | New |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 73.1k $7.6m | Added +26.1k |
| Hosking Partners LLP 0.24% of their portfolio | 65.0k $6.7m | Added +64 |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 64.8k $6.7m | Added +5.4k |
| Retirement Systems of Alabama 0.02% of their portfolio | 64.3k $6.7m | Reduced -700 |
| AlTi Global, Inc. 0.15% of their portfolio | 62.6k $6.5m | Reduced -1.9k |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 62.6k $6.5m | Reduced -21.7k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.41% of their portfolio | 61.7k $6.4m | Added +11.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 61.1k $6.3m | Unchanged |
| Cetera Investment Advisers 0.01% of their portfolio | 58.7k $6.1m | Added +4.7k |
| WINTON GROUP Ltd 0.22% of their portfolio | 57.3k $5.9m | Added +30.7k |
| JACOBS LEVY EQUITY MANAGEMENT, INC 0.02% of their portfolio | 56.4k $5.8m | Added +696 |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 54.6k $5.7m | Reduced -3.7k |
| Salvus Wealth Management, LLC 3.08% of their portfolio | 53.2k $5.5m | Reduced -440 |
| BARCLAYS PLC 0.00% of their portfolio | 50.1k $5.2m | Added +23.7k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 46.6k $4.8m | Added +2 |
| SEI INVESTMENTS CO 0.01% of their portfolio | 45.8k $4.7m | Reduced -2.5k |
| TRUIST FINANCIAL CORP 0.01% of their portfolio | 45.0k $4.7m | Reduced -627 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 42.9k $4.4m | Reduced -908 |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 40.5k $4.2m | Added +2.7k |
| LPL Financial LLC 0.00% of their portfolio | 38.0k $3.9m | Reduced -2.3k |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 37.6k $3.9m | Reduced -1.8k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 34.9k $3.7m | Added +134 |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 32.8k $3.4m | Reduced -22.6k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 32.0k $3.3m | New |
| Oak Thistle LLC 0.50% of their portfolio | 31.4k $3.3m | Added +28.2k |
| NewEdge Wealth, LLC 0.05% of their portfolio | 31.3k $3.3m | Reduced -612 |
| &PARTNERS 0.02% of their portfolio | 30.5k $3.2m | Added +1.6k |
| Vestmark Advisory Solutions, Inc. 0.06% of their portfolio | 30.4k $3.1m | Reduced -1.3k |
| MIRABELLA FINANCIAL SERVICES LLP 0.27% of their portfolio | 30.3k $3.1m | Added +12.0k |
| Sanctuary Advisors, LLC 0.01% of their portfolio | 29.4k $2.6m | Added +13.3k |
| MetLife Investment Management, LLC 0.01% of their portfolio | 27.3k $2.8m | Reduced -1.3k |
| COMERICA BANK 0.01% of their portfolio | 26.6k $2.8m | Reduced -2.8k |
| Kestra Advisory Services, LLC 0.01% of their portfolio | 25.1k $2.6m | Reduced -2.6k |
| MUTUAL OF AMERICA CAPITAL MANAGEMENT LLC 0.03% of their portfolio | 24.6k $2.5m | Reduced -1.9k |