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 ($9.6m this quarter). Holder counts are more reliable. Shares outstanding: 52.8m as of 2025-11-28, 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 ≈ $102.66. Options: 12 managers hold calls ($49.8m notional), 10 hold puts ($41.8m).
Trends to Q4 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 |
| Q4 2025 | 443 |
Buyers vs sellers
Managers adding to or starting a position, vs cutting or selling out
Numbers
| Quarter | Bought or added | Cut or sold out |
|---|---|---|
| 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 |
| Q4 2025 | 183 | 193 |
Calls vs puts
Options held, notional value, last 4 quarters. P/C = puts ÷ calls
Numbers
| Quarter | Calls | Puts | P/C |
|---|---|---|---|
| Q1 2025 | $42.8m | $39.3m | 0.92 |
| Q2 2025 | $24.6m | $87.3m | 3.54 |
| Q3 2025 | $88.4m | $50.7m | 0.57 |
| Q4 2025 | $49.8m | $41.8m | 0.84 |
Biggest buyers
| CITADEL ADVISORS LLC | New | +796.5k |
| Balyasny Asset Management L.P. | Added | +611.6k |
| MILLENNIUM MANAGEMENT LLC | Added | +124.0k |
| Alyeska Investment Group, L.P. | New | +80.0k |
| Brandywine Global Investment Management, LLC | New | +79.1k |
| Invesco Ltd. | Added | +70.0k |
| Cerity Partners LLC | Added | +65.2k |
| Capital Research Global Investors | Added | +48.5k |
| DIMENSIONAL FUND ADVISORS LP | Added | +48.2k |
| Quantinno Capital Management LP | Added | +41.3k |
Biggest sellers
| JPMORGAN CHASE & CO | Reduced | -1.4m |
| Candlestick Capital Management LP | Sold out | -551.5k |
| JANUS HENDERSON GROUP PLC | Reduced | -419.0k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC | Reduced | -409.1k |
| MORGAN STANLEY | Reduced | -262.1k |
| ROYAL BANK OF CANADA | Reduced | -254.1k |
| ENVESTNET ASSET MANAGEMENT INC | Reduced | -239.2k |
| Pacer Advisors, Inc. | Reduced | -235.6k |
| AMERICAN CENTURY COMPANIES INC | Reduced | -149.7k |
| RAYMOND JAMES FINANCIAL INC | Reduced | -137.8k |
Biggest calls
| PEAK6 LLC | Added | $15.9m154.8k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $12.7m123.6k shares |
| CITADEL ADVISORS LLC | Reduced | $9.8m95.1k shares |
| IMC-Chicago, LLC | Reduced | $3.2m31.1k shares |
| JANE STREET GROUP, LLC | Reduced | $2.8m27.7k shares |
| Walleye Trading LLC | Added | $1.8m17.9k shares |
| UBS Group AG | Reduced | $1.1m11.0k shares |
| SIMPLEX TRADING, LLC | Reduced | $954.8k9.3k shares |
| TUDOR INVESTMENT CORP ET AL | Reduced | $657.1k6.4k shares |
| Squarepoint Ops LLC | Reduced | $410.7k4.0k shares |
Biggest puts
| CITADEL ADVISORS LLC | Added | $13.9m135.7k shares |
| SUSQUEHANNA INTERNATIONAL GROUP, LLP | Reduced | $9.7m94.2k shares |
| Walleye Trading LLC | Added | $7.8m75.6k shares |
| IMC-Chicago, LLC | Added | $4.8m47.0k shares |
| JANE STREET GROUP, LLC | Reduced | $2.4m23.3k shares |
| PEAK6 LLC | New | $2.0m19.0k shares |
| Point72 Asset Management, L.P. | Added | $492.8k4.8k shares |
| SIMPLEX TRADING, LLC | Reduced | $441.5k4.3k shares |
| Walleye Capital LLC | Added | $246.4k2.4k shares |
| GROUP ONE TRADING LLC | Reduced | $82.1k800 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 Q4 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 |
|---|---|---|---|---|---|
| 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 | — | — |
| Q4 2025 | 0 | — | 1 | $178.3k | — |
| Date | Insider | Trade | Value |
|---|---|---|---|
| 2025-12-12 | WOELFER W. TODD SVP, CHIEF OPERATING OFFICER | Sold | $178.3k1.7k shares |
Their holding: how much the trade added to or took from the insider's holding (direct, or the trust or fund named). The same trade is sometimes reported by more than one insider, such as a fund and the director who represents it; totals count it once. A value is left blank where the reported price is far from the market price (usually a typo).
Holders, Q4 2025
| Manager | Shares | Change |
|---|---|---|
| VANGUARD GROUP INC 0.01% of their portfolio | 5.2m $536.4m | Reduced -113.1k |
| KAYNE ANDERSON RUDNICK INVESTMENT MANAGEMENT LLC 1.29% of their portfolio | 4.7m $482.2m | Reduced -409.1k |
| BlackRock, Inc. 0.01% of their portfolio | 4.6m $473.6m | Reduced -48.8k |
| ACR Alpine Capital Research, LLC 6.62% of their portfolio | 4.1m $424.4m | Added +26.7k |
| DIMENSIONAL FUND ADVISORS LP 0.07% of their portfolio | 3.1m $313.2m | Added +48.2k |
| TIMUCUAN ASSET MANAGEMENT INC/FL 8.66% of their portfolio | 2.6m $266.9m | Reduced -59.0k |
| Life Cycle Investment Partners Ltd 1.79% of their portfolio | 2.5m $255.5m | First filing |
| STATE STREET CORP 0.01% of their portfolio | 1.6m $166.3m | Reduced -49.3k |
| Capital Research Global Investors 0.03% of their portfolio | 1.6m $162.4m | Added +48.5k |
| JPMORGAN CHASE & CO 0.01% of their portfolio | 1.3m $128.8m | Reduced -1.4m |
| AMERICAN CENTURY COMPANIES INC 0.06% of their portfolio | 1.2m $124.5m | Reduced -149.7k |
| Balyasny Asset Management L.P. 0.21% of their portfolio | 1.1m $111.0m | Added +611.6k |
| HARRIS ASSOCIATES L P 0.14% of their portfolio | 1.1m $108.9m | Reduced -21.2k |
| Madison Asset Management, LLC 1.23% of their portfolio | 1.0m $107.2m | Reduced -58.5k |
| GEODE CAPITAL MANAGEMENT, LLC 0.01% of their portfolio | 960.4k $98.6m | Reduced -1.6k |
| CITADEL ADVISORS LLC 0.06% of their portfolio | 796.5k $81.8m | New |
| MORGAN STANLEY 0.00% of their portfolio | 728.8k $74.8m | Reduced -262.1k |
| NATIXIS ADVISORS, LLC 0.11% of their portfolio | 723.2k $74.3m | Added +37.0k |
| CHARLES SCHWAB INVESTMENT MANAGEMENT INC 0.01% of their portfolio | 651.1k $66.8m | Added +3.6k |
| OPPENHEIMER ASSET MANAGEMENT INC. 0.80% of their portfolio | 637.3k $65.4m | Reduced -34.2k |
| WELLS FARGO & COMPANY/MN 0.01% of their portfolio | 635.7k $65.3m | Reduced -42.2k |
| ENVESTNET ASSET MANAGEMENT INC 0.02% of their portfolio | 608.7k $62.5m | Reduced -239.2k |
| NORTHERN TRUST CORP 0.01% of their portfolio | 459.5k $47.2m | Reduced -17.3k |
| Bank of New York Mellon Corp 0.01% of their portfolio | 428.7k $44.0m | Reduced -88.4k |
| Driehaus Capital Management LLC 0.30% of their portfolio | 427.9k $43.9m | Reduced -2.1k |
| ROYAL BANK OF CANADA 0.01% of their portfolio | 426.8k $43.8m | Reduced -254.1k |
| CHOREO, LLC 0.52% of their portfolio | 394.5k $41.1m | Added +35.7k |
| Gotham Asset Management, LLC 0.14% of their portfolio | 370.3k $38.0m | Reduced -10.8k |
| DEPRINCE RACE & ZOLLO INC 0.73% of their portfolio | 369.6k $37.9m | Reduced -117.4k |
| ProShare Advisors LLC 0.06% of their portfolio | 304.5k $31.3m | Reduced -67.8k |
| RAYMOND JAMES FINANCIAL INC 0.01% of their portfolio | 282.0k $28.9m | Reduced -137.8k |
| ROYAL LONDON ASSET MANAGEMENT LTD 0.06% of their portfolio | 264.6k $27.2m | Reduced -4.6k |
| BBFIT INVESTMENTS PTE LTD 2.70% of their portfolio | 263.7k $27.1m | First filing |
| GOLDMAN SACHS GROUP INC 0.00% of their portfolio | 256.3k $26.3m | Reduced -113.3k |
| Invesco Ltd. 0.00% of their portfolio | 246.3k $25.3m | Added +70.0k |
| UBS Group AG 0.00% of their portfolio | 228.2k $23.4m | Reduced -19.3k |
| NORGES BANK 0.00% of their portfolio | 211.6k $21.7m | Not comparable |
| VALUE HOLDINGS MANAGEMENT CO. LLC 3.36% of their portfolio | 195.5k $20.1m | Unchanged |
| STIFEL FINANCIAL CORP 0.02% of their portfolio | 181.1k $18.6m | Reduced -12.2k |
| Maple Rock Capital Partners Inc. 0.58% of their portfolio | 170.8k $17.5m | Reduced -12.9k |
| LAZARD ASSET MANAGEMENT LLC 0.03% of their portfolio | 169.2k $17.4m | Reduced -4.9k |
| HEARTLAND ADVISORS INC 0.90% of their portfolio | 162.8k $16.7m | Reduced -7.0k |
| JANUS HENDERSON GROUP PLC 0.01% of their portfolio | 158.6k $16.3m | Reduced -419.0k |
| Quantinno Capital Management LP 0.03% of their portfolio | 158.0k $16.2m | Added +41.3k |
| UBS AM, a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC 0.00% of their portfolio | 143.1k $14.7m | Reduced -3.1k |
| SOUTHERNSUN ASSET MANAGEMENT, LLC 2.04% of their portfolio | 142.5k $14.6m | Reduced -8.5k |
| RHUMBLINE ADVISERS 0.01% of their portfolio | 142.4k $14.6m | Reduced -3.9k |
| Cerity Partners LLC 0.02% of their portfolio | 141.5k $14.5m | Added +65.2k |
| MILLENNIUM MANAGEMENT LLC 0.01% of their portfolio | 130.4k $13.4m | Added +124.0k |
| HOTCHKIS & WILEY CAPITAL MANAGEMENT LLC 0.04% of their portfolio | 118.9k $12.2m | Added +229 |
| Atria Investments, Inc 0.13% of their portfolio | 114.8k $11.8m | Reduced -2.5k |
| PRINCIPAL FINANCIAL GROUP INC 0.01% of their portfolio | 113.2k $11.6m | Reduced -5.0k |
| QV Investors Inc. 0.92% of their portfolio | 109.8k $11.3m | Reduced -23.7k |
| Swiss National Bank 0.01% of their portfolio | 98.6k $10.1m | Added +600 |
| California Public Employees Retirement System 0.01% of their portfolio | 95.9k $9.9m | Added +1.9k |
| SPROTT INC. 0.35% of their portfolio | 95.0k $9.8m | Unchanged |
| Russell Investments Group, Ltd. 0.01% of their portfolio | 90.8k $9.3m | Reduced -25.0k |
| Nuveen, LLC 0.00% of their portfolio | 87.9k $9.0m | Reduced -2.9k |
| Mariner, LLC 0.01% of their portfolio | 85.9k $8.8m | Reduced -4.7k |
| Legal & General Group Plc 0.00% of their portfolio | 85.7k $8.8m | Reduced -18.8k |
| FIRST TRUST ADVISORS LP 0.01% of their portfolio | 80.9k $8.3m | Reduced -34.5k |
| Alyeska Investment Group, L.P. 0.02% of their portfolio | 80.0k $8.2m | New |
| Brandywine Global Investment Management, LLC 0.05% of their portfolio | 79.1k $8.1m | New |
| AQR CAPITAL MANAGEMENT LLC 0.00% of their portfolio | 74.7k $7.7m | Added +1.6k |
| AMERIPRISE FINANCIAL INC 0.00% of their portfolio | 71.4k $7.3m | Reduced -17.2k |
| BARCLAYS PLC 0.00% of their portfolio | 67.3k $6.9m | Added +17.3k |
| NEW YORK STATE COMMON RETIREMENT FUND 0.01% of their portfolio | 66.9k $6.9m | Reduced -10.0k |
| ALLIANCEBERNSTEIN L.P. 0.00% of their portfolio | 65.7k $6.7m | Added +922 |
| BANK OF AMERICA CORP /DE/ 0.00% of their portfolio | 65.3k $6.7m | Added +2.7k |
| Hosking Partners LLP 0.23% of their portfolio | 64.8k $6.7m | Reduced -173 |
| Retirement Systems of Alabama 0.02% of their portfolio | 63.2k $6.5m | Reduced -1.2k |
| Janney Montgomery Scott LLC 0.01% of their portfolio | 62.0k $6.4m | Reduced -90.0k |
| TWO SIGMA INVESTMENTS, LP 0.01% of their portfolio | 60.9k $6.3m | Reduced -38.6k |
| Cetera Investment Advisers 0.01% of their portfolio | 60.8k $6.2m | Added +2.1k |
| NEW YORK STATE TEACHERS RETIREMENT SYSTEM 0.01% of their portfolio | 58.6k $6.0m | Reduced -2.5k |
| Salvus Wealth Management, LLC 3.08% of their portfolio | 53.6k $5.5m | Added +340 |
| Universal- Beteiligungs- und Servicegesellschaft mbH 0.01% of their portfolio | 53.1k $5.5m | Reduced -1.5k |
| VICTORY CAPITAL MANAGEMENT INC 0.00% of their portfolio | 52.4k $5.4m | Added +38.7k |
| Corient Private Wealth LP 0.00% of their portfolio | 50.8k $4.9m | Added +30.9k |
| CALIFORNIA STATE TEACHERS RETIREMENT SYSTEM 0.00% of their portfolio | 47.5k $4.9m | Added +920 |
| SEI INVESTMENTS CO 0.00% of their portfolio | 45.8k $4.7m | Reduced -9 |
| STATE BOARD OF ADMINISTRATION OF FLORIDA RETIREMENT SYSTEM 0.01% of their portfolio | 42.9k $4.4m | Unchanged |
| PRICE T ROWE ASSOCIATES INC /MD/ 0.00% of their portfolio | 42.2k $4.3m | Added +1.6k |
| Triad Investment Management 4.33% of their portfolio | 41.7k $4.3m | First filing |
| &PARTNERS 0.02% of their portfolio | 39.8k $4.1m | Added +9.3k |
| TRUIST FINANCIAL CORP 0.01% of their portfolio | 39.6k $4.1m | Reduced -5.4k |
| TUDOR INVESTMENT CORP ET AL 0.02% of their portfolio | 38.6k $4.0m | New |
| MANUFACTURERS LIFE INSURANCE COMPANY, THE 0.00% of their portfolio | 36.4k $3.7m | Reduced -1.2k |
| Vestmark Advisory Solutions, Inc. 0.05% of their portfolio | 35.3k $3.6m | Added +4.9k |
| LPL Financial LLC 0.00% of their portfolio | 35.1k $3.6m | Reduced -2.9k |
| LANDSCAPE CAPITAL MANAGEMENT, L.L.C. 0.24% of their portfolio | 34.3k $3.5m | Reduced -27.3k |
| CANADA LIFE ASSURANCE Co 0.01% of their portfolio | 33.7k $3.5m | Reduced -1.3k |
| NewEdge Wealth, LLC 0.03% of their portfolio | 29.8k $3.1m | Reduced -1.5k |
| WELLINGTON MANAGEMENT GROUP LLP 0.00% of their portfolio | 28.3k $2.9m | Reduced -3.7k |
| Kestra Advisory Services, LLC 0.01% of their portfolio | 28.1k $2.9m | Added +3.0k |
| Kingsview Wealth Management, LLC 0.04% of their portfolio | 28.1k $2.9m | Added +25.4k |
| STATE OF WISCONSIN INVESTMENT BOARD 0.01% of their portfolio | 26.7k $2.7m | Reduced -6.1k |
| RENAISSANCE TECHNOLOGIES LLC 0.00% of their portfolio | 25.9k $2.7m | Reduced -60.4k |
| MetLife Investment Management, LLC 0.01% of their portfolio | 25.7k $2.6m | Reduced -1.6k |
| COMERICA BANK 0.01% of their portfolio | 24.8k $2.5m | Reduced -1.8k |