# EDGAR Filing Document

**Accession Number:** 0000795264
**File Stem:** 0000894189-25-011835
**Filing Date:** 2025-10
**Character Count:** 54509
**Document Hash:** b6c488c0bada0b433bcf8f1d9781f544
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000894189-25-011835.hdr.sgml**: 20251024

**ACCESSION NUMBER**: 0000894189-25-011835

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251024

**DATE AS OF CHANGE**: 20251024

**PERIOD START**: 20251130

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THOMPSON IM FUNDS INC
- **CENTRAL INDEX KEY:** 0000795264

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **FISCAL YEAR END:** 1130

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04946
- **FILM NUMBER:** 251416072

**BUSINESS ADDRESS:**
- **STREET 1:** 1255 FOURIER DRIVE
- **STREET 2:** SUITE 200
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53717
- **BUSINESS PHONE:** 608-827-5700

**MAIL ADDRESS:**
- **STREET 1:** 1255 FOURIER DRIVE
- **STREET 2:** SUITE 200
- **CITY:** MADISON
- **STATE:** WI
- **ZIP:** 53717

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THOMPSON PLUMB FUNDS INC
- **DATE OF NAME CHANGE:** 19970401

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THOMPSON UNGER & PLUMB FUNDS INC
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** MADISON TOTAL RETURN FUND INC
- **DATE OF NAME CHANGE:** 19861222

## Series and Classes Contracts Data

### Thompson MidCap Fund (Series ID: S000021538)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000061640 | Thompson MidCap Fund | thpmx           |

## Nport-Ex

---

| | | |
|:---|:---|:---|
| **MIDCAP FUND SCHEDULE OF INVESTMENTS (Unaudited)** |  |  |
| **August 31, 2025** |  |  |
|  | Shares | Value |
| **COMMON STOCKS - 98.0%** |  | **$51596625** |
| (COST $38,212,385) |  |  |
| **Communication Services - 6.2%** |  | **3251536** |
| ***Media & Entertainment - 6.2%*** |  |  |
| Electronic Arts Inc. | 4500 | 773775 |
| Paramount Skydance Corp. Class B (a) | 14921 | 219339 |
| Ubisoft Entertainment S.A. ADR (a) | 245000 | 521850 |
| Warner Bros. Discovery, Inc. (a) | 149190 | 1736572 |
| **Consumer Discretionary - 8.5%** |  | **4478646** |
| ***Consumer Discretionary Distribution & Retail - 4.3%*** |  |  |
| Chewy, Inc. Class A (a) | 5095 | 208691 |
| eBay Inc. | 8350 | 756593 |
| LKQ Corp. | 33990 | 1108754 |
| Pool Corp. | 675 | 209729 |
| ***Consumer Durables & Apparel - 4.2%*** |  |  |
| Hasbro, Inc. | 3850 | 312505 |
| Levi Strauss & Co. Class A | 30500 | 682285 |
| Mattel, Inc. (a) | 12180 | 222894 |
| TopBuild Corp. (a) | 1355 | 570130 |
| Topgolf Callaway Brands Corp. (a) | 42580 | 407065 |
| **Consumer Staples - 3.8%** |  | **2021465** |
| ***Consumer Staples Distribution & Retail - 2.9%*** |  |  |
| Performance Food Group Co. (a) | 7855 | 796497 |
| Target Corp. | 7525 | 722249 |
| ***Food Beverage & Tobacco - 0.9%*** |  |  |
| Nomad Foods Ltd. | 32350 | 502719 |
| **Energy - 3.0%** |  | **1555913** |
| Cameco Corp. | 4760 | 368376 |
| Cheniere Energy, Inc. | 2560 | 619059 |
| Exxon Mobil Corp. | 4974 | 568478 |
| **Financials - 18.9%** |  | **9938143** |
| ***Banks - 8.3%*** |  |  |
| Associated Banc-Corp | 31408 | 847074 |
| Citizens Financial Group, Inc. | 11920 | 623178 |
| Flagstar Financial, Inc. | 81242 | 1041522 |
| PNC Financial Services Group, Inc. | 2880 | 597427 |
| Truist Financial Corp. | 11531 | 539881 |
| Zions Bancorporation, N.A. | 12585 | 730056 |
| ***Financial Services - 10.6%*** |  |  |
| Annaly Capital Management, Inc. | 33456 | 708933 |
| Capital One Financial Corp. | 3877 | 880932 |
| Fiserv, Inc. (a) | 5608 | 774913 |
| Intercontinental Exchange, Inc. | 1350 | 238410 |
| Northern Trust Corp. | 6500 | 853320 |
| PayPal Holdings, Inc. (a) | 8775 | 615917 |
| State Street Corp. | 4915 | 565078 |
| The Charles Schwab Corp. | 9615 | 921502 |
| **Health Care - 15.2%** |  | **8003227** |
| ***Health Care Equipment & Services - 5.3%*** |  |  |
| Acadia Healthcare Co., Inc. (a) | 6285 | 144304 |
| AMN Healthcare Services, Inc. (a) | 39340 | 817485 |
| Premier, Inc. Class A | 26030 | 674177 |
| Teleflex Inc. | 5545 | 700943 |
| The Cooper Companies, Inc. (a) | 6850 | 461656 |
| ***Pharmaceuticals Biotechnology & Life Sciences - 9.9%*** |  |  |
| Exact Sciences Corp. (a) | 22390 | 1061734 |
| Green Thumb Industries Inc. (a) | 86930 | 755413 |
| Jazz Pharmaceuticals PLC (a) | 6570 | 839317 |
| Neurocrine Biosciences, Inc. (a) | 9755 | 1361798 |
| Viatris Inc. | 112455 | 1186400 |
| **Industrials - 11.9%** |  | **6290128** |
| ***Capital Goods - 6.9%*** |  |  |
| A.O. Smith Corp. | 8290 | 590994 |
| Hillenbrand, Inc. | 5585 | 141803 |
| Kornit Digital Ltd. (a) | 68055 | 1016742 |
| Mueller Water Products, Inc. Class A | 13005 | 342812 |
| Regal Rexnord Corp. | 3450 | 515189 |
| WillScot Holdings Corp. | 18241 | 442162 |
| Xylem, Inc. | 4199 | 594410 |
| ***Commercial & Professional Services - 5.0%*** |  |  |
| Concentrix Corp. | 24725 | 1304491 |
| Equifax Inc. | 2225 | 548018 |
| SS&C Technologies Holdings, Inc. | 8950 | 793507 |
| **Information Technology - 15.3%** |  | **8062114** |
| ***Semiconductors & Semiconductor Equipment - 7.0%*** |  |  |
| Infineon Technologies A.G. ADR | 25020 | 1026070 |
| Marvell Technology, Inc. | 14640 | 920344 |
| Microchip Technology Inc. | 9650 | 627250 |
| NXP Semiconductors N.V. | 4795 | 1126106 |
| ***Software & Services - 0.9%*** |  |  |
| Okta, Inc. (a) | 5150 | 477766 |
| ***Technology Hardware & Equipment - 7.4%*** |  |  |
| Calix, Inc. (a) | 13915 | 827247 |
| Coherent Corp. (a) | 5900 | 533773 |
| Keysight Technologies, Inc. (a) | 3525 | 576091 |
| Lumentum Holdings Inc. (a) | 6400 | 849984 |
| Pure Storage, Inc. Class A (a) | 7615 | 591000 |
| Viavi Solutions Inc. (a) | 44901 | 506483 |
| **Materials - 4.4%** |  | **2293973** |
| Freeport-McMoRan Inc. | 10660 | 473304 |
| James Hardie Industries plc (a) | 27587 | 555326 |
| O-I Glass, Inc. (a) | 97409 | 1265343 |
| **Real Estate - 7.5%** |  | **3939161** |
| ***Equity Real Estate Investment Trusts (REITs) - 5.4%*** |  |  |
| Alexandria Real Estate Equities, Inc. | 10580 | 872215 |
| Global Net Lease, Inc. (a) | 58795 | 462717 |
| Host Hotels & Resorts Inc. | 30125 | 518451 |
| Omega Healthcare Investors, Inc. | 11110 | 472953 |
| Park Hotels & Resorts Inc. | 45300 | 532728 |
| ***Real Estate Management & Development - 2.1%*** |  |  |
| Colliers Int'l. Group Inc. | 4275 | 706871 |
| FirstService Corp. | 1855 | 373226 |
| **Utilities - 3.3%** |  | **1762319** |
| Alliant Energy Corp. | 9200 | 598644 |
| WEC Energy Group, Inc. | 6800 | 724268 |
| Xcel Energy, Inc. | 6070 | 439407 |
| **RIGHTS - 0.0%^** |  | **–** |
| (COST $0) |  |  |
| **Financials - 0.0%^** |  | **–** |
| ***Financial Services - 0.0%^*** |  |  |
| Sycamore Partners LLC (a)(c) | 57695 | – |
| **SHORT-TERM INVESTMENTS - 0.2%** |  | **100000** |
| (COST $100,000) |  |  |
| **Money Market Funds - 0.2%** |  | **100000** |
| First American Government Obligations Fund Class X, 4.22% (b) | 100000 | 100000 |
| **TOTAL INVESTMENTS - 98.2% (COST $38,312,385)** |  | **51696625** |
| **NET OTHER ASSETS & LIABILITIES - 1.8%^** |  | **954777** |
| **NET ASSETS - 100.0%** |  | **$52651402** |

---

---

| | | | | | |
|:---|:---|:---|:---|:---|:---|
| a) | Non-income producing security. | Non-income producing security. |  |  |  |
| b) | Represents the 7-day yield at August 31, 2025. | Represents the 7-day yield at August 31, 2025. | Represents the 7-day yield at August 31, 2025. | Represents the 7-day yield at August 31, 2025. |  |
| c) | Investment valued using significant unobservable inputs. | Investment valued using significant unobservable inputs. | Investment valued using significant unobservable inputs. | Investment valued using significant unobservable inputs. |  |
| d) | Investment in securities not registered under the Securities Act of 1933 (excluding securities acquired pursuant to Rule 144A and Regulation S). At the end of the period, the value of such restricted securities amounted to $0 or 0.0% of net assets. | Investment in securities not registered under the Securities Act of 1933 (excluding securities acquired pursuant to Rule 144A and Regulation S). At the end of the period, the value of such restricted securities amounted to $0 or 0.0% of net assets. | Investment in securities not registered under the Securities Act of 1933 (excluding securities acquired pursuant to Rule 144A and Regulation S). At the end of the period, the value of such restricted securities amounted to $0 or 0.0% of net assets. | Investment in securities not registered under the Securities Act of 1933 (excluding securities acquired pursuant to Rule 144A and Regulation S). At the end of the period, the value of such restricted securities amounted to $0 or 0.0% of net assets. | Investment in securities not registered under the Securities Act of 1933 (excluding securities acquired pursuant to Rule 144A and Regulation S). At the end of the period, the value of such restricted securities amounted to $0 or 0.0% of net assets. |
|  | **Period Acquired** | **Security Name** | **Shares** | **Total Cost** | **Market Value** |
|  | 8/27/2025 | Sycamore Partners LLC | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 57695 | $— | $— |
| ^ | Rounds to 0.0%. | Rounds to 0.0%. |  |  |  |
| **Abbreviations:** | **Abbreviations:** |  |  |  |  |
| ADR | American Depositary Receipt | American Depositary Receipt |  |  |  |
| A.G. | Aktiengesellschaft is the German term for a public limited liability corporation. | Aktiengesellschaft is the German term for a public limited liability corporation. | Aktiengesellschaft is the German term for a public limited liability corporation. | Aktiengesellschaft is the German term for a public limited liability corporation. | Aktiengesellschaft is the German term for a public limited liability corporation. |
| N.V. | Naamloze Vennootschap is the Dutch term for a public limited liability corporation. | Naamloze Vennootschap is the Dutch term for a public limited liability corporation. | Naamloze Vennootschap is the Dutch term for a public limited liability corporation. | Naamloze Vennootschap is the Dutch term for a public limited liability corporation. | Naamloze Vennootschap is the Dutch term for a public limited liability corporation. |
| PLC | Public Limited Company | Public Limited Company |  |  |  |
| S.A. | Generally designates corporations in various countries, mostly those employing civil law. This translates literally as anonymous company. | Generally designates corporations in various countries, mostly those employing civil law. This translates literally as anonymous company. | Generally designates corporations in various countries, mostly those employing civil law. This translates literally as anonymous company. | Generally designates corporations in various countries, mostly those employing civil law. This translates literally as anonymous company. | Generally designates corporations in various countries, mostly those employing civil law. This translates literally as anonymous company. |
| The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Thompson Investment Management Inc. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any warranties with respect there to or the results to be obtained by the use thereof, and no such party shall have any liability whatsoever with respect thereto. | The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Thompson Investment Management Inc. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any warranties with respect there to or the results to be obtained by the use thereof, and no such party shall have any liability whatsoever with respect thereto. | The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Thompson Investment Management Inc. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any warranties with respect there to or the results to be obtained by the use thereof, and no such party shall have any liability whatsoever with respect thereto. | The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Thompson Investment Management Inc. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any warranties with respect there to or the results to be obtained by the use thereof, and no such party shall have any liability whatsoever with respect thereto. | The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Thompson Investment Management Inc. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any warranties with respect there to or the results to be obtained by the use thereof, and no such party shall have any liability whatsoever with respect thereto. | The Global Industry Classification Standard ("GICS") was developed by and is the exclusive property and a service mark of MSCI Inc. ("MSCI") and Standard & Poor's Financial Services LLC ("S&P") and is licensed for use by Thompson Investment Management Inc. Neither MSCI, S&P, nor any other party involved in making or compiling the GICS or any GICS classifications makes any warranties with respect there to or the results to be obtained by the use thereof, and no such party shall have any liability whatsoever with respect thereto. |

---

------

---

| | | | | |
|:---|:---|:---|:---|:---|
| **MIDCAP FUND SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **MIDCAP FUND SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** | **MIDCAP FUND SCHEDULE OF INVESTMENTS (Unaudited) (Continued)** |  |  |
| **August 31, 2025** |  |  |  |  |
| The following is a summary of the inputs used to value the Fund's investments as of August 31, 2025: | The following is a summary of the inputs used to value the Fund's investments as of August 31, 2025: | The following is a summary of the inputs used to value the Fund's investments as of August 31, 2025: | The following is a summary of the inputs used to value the Fund's investments as of August 31, 2025: | The following is a summary of the inputs used to value the Fund's investments as of August 31, 2025: |
|  | **Level 1** | **Level 2** | **Level 3 <sup>(1)</sup>** | **Total** |
| **Common stocks** |  |  |  |  |
| Communication services | $3251536 | $- | $- | **$3251536** |
| Consumer discretionary | 4478646 | – | – | **4478646** |
| Consumer staples | 2021465 | – | – | **2021465** |
| Energy | 1555913 | – | – | **1555913** |
| Financials | 9938143 | – | – | **9938143** |
| Health care | 8003227 | – | – | **8003227** |
| Industrials | 6290128 | – | – | **6290128** |
| Information technology | 8062114 | – | – | **8062114** |
| Materials | 2293973 | – | – | **2293973** |
| Real estate | 3939161 | – | – | **3939161** |
| Utilities | 1762319 | – | – | **1762319** |
| **Total common stocks** | **51596625** | – | – | **51596625** |
| **Rights** |  |  |  |  |
| Rights | – | – | – | **–** |
| **Total rights** | **–** | – | – | **–** |
| **Short-term investments** |  |  |  |  |
| Money market funds | 100000 | – | – | **100000** |
| **Total short-term investments** | **100000** | – | – | **100000** |
| **Total investments** | **$51696625** | **$-** | **$-** | **$51696625** |
| <sup>(1)</sup> For the period ended August 31, 2025, investments valued at $0 were transferred into level 3 due to the unavailability of active market pricing. There were no transfers out of Level 3. Level 3 amount shown includes securities determined to have no value at August 31, 2025. | <sup>(1)</sup> For the period ended August 31, 2025, investments valued at $0 were transferred into level 3 due to the unavailability of active market pricing. There were no transfers out of Level 3. Level 3 amount shown includes securities determined to have no value at August 31, 2025. | <sup>(1)</sup> For the period ended August 31, 2025, investments valued at $0 were transferred into level 3 due to the unavailability of active market pricing. There were no transfers out of Level 3. Level 3 amount shown includes securities determined to have no value at August 31, 2025. | <sup>(1)</sup> For the period ended August 31, 2025, investments valued at $0 were transferred into level 3 due to the unavailability of active market pricing. There were no transfers out of Level 3. Level 3 amount shown includes securities determined to have no value at August 31, 2025. | <sup>(1)</sup> For the period ended August 31, 2025, investments valued at $0 were transferred into level 3 due to the unavailability of active market pricing. There were no transfers out of Level 3. Level 3 amount shown includes securities determined to have no value at August 31, 2025. |
| Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended August 31, 2025 is not presented. | Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended August 31, 2025 is not presented. | Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended August 31, 2025 is not presented. | Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended August 31, 2025 is not presented. | Level 3 investments at the beginning and/or end of the period in relation to net assets were not significant and accordingly, a reconciliation of Level 3 assets for the period ended August 31, 2025 is not presented. |
| For more information on valuation inputs, see the accompanying notes. The accompanying notes are an integral part of the schedule of investments. | For more information on valuation inputs, see the accompanying notes. The accompanying notes are an integral part of the schedule of investments. | For more information on valuation inputs, see the accompanying notes. The accompanying notes are an integral part of the schedule of investments. | For more information on valuation inputs, see the accompanying notes. The accompanying notes are an integral part of the schedule of investments. | For more information on valuation inputs, see the accompanying notes. The accompanying notes are an integral part of the schedule of investments. |

---

------

### THOMPSON IM FUNDS, INC.
NOTES TO FINANCIAL STATEMENTS

August 31, 2025

VALUATION POLICY AND PROCEDURES - The Funds' Board of Directors (the "Funds' Board") has adopted methods for valuing securities set forth in the Funds' Pricing Policies and Procedures, including circumstances in which market quotes are not readily available or deemed to be unreliable, and has delegated authority to the Advisor, as the Board appointed valuation designee, to apply those methods in making fair value determinations in accordance with the procedures approved by the Board. The valuation designee has established a valuation committee that, along with other Advisor employees, administers, implements, and oversees the fair valuation process and makes fair value decisions. The valuation committee regularly reviews its own fair value decisions, as well as valuations, valuation techniques and services furnished by pricing services; considers circumstances in the markets which may require it to make or adjust valuation determinations; and reviews previous valuation determinations. The valuation committee reports on its activities and any changes to the fair valuation guidelines to the Funds' Board.

Rule 2a-5 adopted by the Securities and Exchange Commission (the "SEC") governing fund valuation practices has established a framework for determining fair value in good faith for purposes of Section 29(a)(41) of the 1940 Act. Rule 2a-5 permits fund boards to designate certain parties to perform fair value determinations, subject to board oversight. Rule 2a-5 also defines when market quotations are "readily available" for purposes of the 1940 Act, which requires a fund to fair value a security when market quotations are not readily available. The Funds adopted a valuation policy adhering to the new rule and there was no material impact to the Funds.

VALUATION MEASUREMENTS – In accordance with generally accepted accounting principles in the United States of America ("GAAP"), fair value is defined as the price that each Fund would receive to sell an investment or pay to transfer a liability in an orderly transaction with an independent buyer in the principal market, or in the absence of a principal market the most advantageous market for the investment or liability. GAAP established a three-tier hierarchy to maximize the use of observable market data and minimize the use of unobservable inputs and to establish classification of fair value measurements for disclosure purposes.

Various inputs are used in determining the value of each Fund's investments. These inputs are summarized in the three broad levels listed below:

Level 1 – Quoted prices in active markets for identical securities.

Level 2 – Other significant observable inputs (including quoted prices for similar securities, interest rates, prepayment speeds, credit risk, etc.).

Level 3 – Significant unobservable inputs (including the Fund's own assumptions in determining the fair value of investments).

Inputs may include price information, specific and broad credit data, liquidity statistics, and other factors. The Funds consider observable data to be market data which is readily available, regularly distributed or updated, reliable and verifiable, not proprietary, and provided by independent sources that are actively involved in the relevant market. The determination of what constitutes "observable" requires significant judgment by the Funds. The categorization of a security within the hierarchy is based upon the pricing transparency of the security and does not necessarily correspond to a Fund's perceived risk of that security. The inputs used to measure fair value may fall into different levels of the fair valuation hierarchy. In such cases, for disclosure purposes, the level in the fair value hierarchy within which the fair value measurement falls in its entirety is determined based on the lowest level that is significant to the fair value measurement in its entirety.

SECURITY VALUATION - Each Fund's equity securities, including common stocks, ADRs, REITs, and rights are valued at their market prices (generally the last reported sales price on the exchange where the securities are primarily traded or, for Nasdaq-listed securities, at their Nasdaq Official Closing Prices). If no sales are reported on a particular day, the mean between the highest bid and lowest asked quotations at the close of the exchanges will generally be used. To the extent these securities are actively traded, and valuation adjustments are not applied, they are categorized in level 1 of the fair value hierarchy. When adjustments to observable prices are applied or when the market is considered inactive, securities will be categorized in level 2 of the fair value hierarchy.

Investments in money market mutual funds are generally priced at the ending net asset value provided by the service agent of the funds. These securities will be categorized as level 1 securities.

Fixed-income securities such as corporate bonds, convertible bonds, asset-backed securities, mortgage-backed securities, U.S. government and agency securities, sovereign bonds, municipal bonds and commercial paper are typically valued based on valuations published by an independent pricing service, which uses various valuation methodologies such as matrix pricing and other analytical pricing models as well as market transactions and dealer quotations. Factors considered by pricing services include market characteristics such as benchmark yield curves, option-adjusted spreads, credit spreads and fundamental analytical data relating to the issuer. Short-term investments in fixed-income securities (those with remaining maturities of 60 days or less) are generally valued on an amortized cost basis. Fixed-income securities will generally be categorized in level 2 of the fair value hierarchy, in instances where lower relative weight is placed on transaction prices, quotations, or similar observable inputs, they are categorized in level 3.

Where market quotations are not readily available or are unreliable, a value is determined in good faith pursuant to procedures established by the Funds' Board. When determining the value of a security, consideration is given to the facts and circumstances relevant to the particular situation, which includes factors such as fundamental analytical data relating to the investment, which may include consideration of yields or prices of securities of comparable quality, coupon rate, maturity and type of issue, nature and duration of any restrictions on disposition of the security and an evaluation of forces that influence the market in which the securities are purchased or sold. Fair value pricing is an inherently subjective process, and no single standard exists for determining fair value. Different funds could reasonably arrive at different values for the same security.

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Thompson IM Funds, Inc.

- **b. Investment Company Act file number:** 811-04946

- **c. CIK number of Registrant:** 0000795264

- **d. LEI of Registrant:** 549300QQSO0I7KNHS575

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 1255 Fourier Drive

  - **City:** Madison

  - **State:** WI

  - **Foreign country:** US

  - **Zip / Postal Code:** 53717

  - **Telephone number:** 608-827-5700

**Item A.2. Information about the Series.**

- **a. Name of Series:** Thompson MidCap Fund

- **b. EDGAR series identifier (if any):** S000021538

- **c. LEI of Series:** 549300NGZVN3PFW9WT58

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-11-30

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $52708514.09

**Total Liabilities:** $61542.46

**Net Assets:** $52646971.63

**Cash Not Reported:** $942638.99

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000061640 | 4.80%                | 1.50%                | 4.09%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $243506.13               | $2030560.64                                |
| Month 2  | $808503.94               | $-82795.67                                 |
| Month 3  | $-1050170.67             | $3091796.63                                |

**Designated Index Information**

- **Index Name:** N/A

- **Index Identifier:** N/A

### Schedule of Portfolio Investments

| Name                           | Title                                      | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Alexandria Real Estate Equitie | Alexandria Real Estate Equities Inc        | CUSIP: 015271109<br>LEI: MGCJBT4MKTQBVLNUIS88 | Long             | EC               | CORP              | US        |     10580 | NS      | $872215.20    | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| Capital One Financial Corp     | Capital One Financial Corp                 | CUSIP: 14040H105<br>LEI: ZUE8T73ROZOF6FLBAR73 | Long             | EC               | CORP              | US        |      3877 | NS      | $880931.94    | 1.67%             |  |  |  | No            |                  1 | On Loan: No      |
| Equifax Inc                    | Equifax Inc                                | CUSIP: 294429105<br>LEI: 5493004MCF8JDC86VS77 | Long             | EC               | CORP              | US        |      2225 | NS      | $548017.50    | 1.04%             |  |  |  | No            |                  1 | On Loan: No      |
| First American Government Obli | First American Government Obligations Fund | CUSIP: 31846V336<br>LEI: 549300R5MYM6VZF1RM44 | Long             | STIV             | RF                | US        |    100000 | NS      | $100000.00    | 0.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc           | Freeport-McMoRan Inc                       | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |     10660 | NS      | $473304.00    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Hillenbrand Inc                | Hillenbrand Inc                            | CUSIP: 431571108<br>LEI: U246OE781574J2BUD366 | Long             | EC               | CORP              | US        |      5585 | NS      | $141803.15    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Host Hotels & Resorts Inc      | Host Hotels and Resorts Inc                | CUSIP: 44107P104<br>LEI: N6EL63S0K3PB1YFTDI24 | Long             | EC               | CORP              | US        |     30125 | NS      | $518451.25    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Intercontinental Exchange Inc  | Intercontinental Exchange Inc              | CUSIP: 45866F104<br>LEI: 5493000F4ZO33MV32P92 | Long             | EC               | CORP              | US        |      1350 | NS      | $238409.99    | 0.45%             |  |  |  | No            |                  1 | On Loan: No      |
| Keysight Technologies Inc      | Keysight Technologies Inc                  | CUSIP: 49338L103<br>LEI: 549300GLKVIO8YRCYN02 | Long             | EC               | CORP              | US        |      3525 | NS      | $576090.75    | 1.09%             |  |  |  | No            |                  1 | On Loan: No      |
| LKQ Corp                       | LKQ Corp                                   | CUSIP: 501889208<br>LEI: DS830JTTZQN6GK0I2E41 | Long             | EC               | CORP              | US        |     33990 | NS      | $1108753.80   | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| Levi Strauss & Co              | Levi Strauss & Co                          | CUSIP: 52736R102<br>LEI: MB0UERO0RDFKU8258G77 | Long             | EC               | CORP              | US        |     30500 | NS      | $682285.00    | 1.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Lumentum Holdings Inc          | Lumentum Holdings Inc                      | CUSIP: 55024U109<br>LEI: 549300JLWRRC38DWEF52 | Long             | EC               | CORP              | US        |      6400 | NS      | $849984.00    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Flagstar Financial Inc         | New York Community Bancorp Inc             | CUSIP: 649445400<br>LEI: 529900HVXOTLY61GL030 | Long             | EC               | CORP              | US        |     81242 | NS      | $1041522.44   | 1.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Northern Trust Corp            | Northern Trust Corp                        | CUSIP: 665859104<br>LEI: 549300GLF98S992BC502 | Long             | EC               | CORP              | US        |      6500 | NS      | $853320.00    | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| Omega Healthcare Investors Inc | Omega Healthcare Investors Inc             | CUSIP: 681936100<br>LEI: 549300OJ7ENK42CZ8E73 | Long             | EC               | CORP              | US        |     11110 | NS      | $472952.70    | 0.90%             |  |  |  | No            |                  1 | On Loan: No      |
| Paramount Skydance Corp        | Paramount Skydance Corp                    | CUSIP: 69932A204<br>LEI: 529900B6VAJG54Y9QF02 | Long             | EC               | CORP              | US        |     14921 | NS      | $219338.70    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Pure Storage Inc               | Pure Storage Inc                           | CUSIP: 74624M102<br>LEI: 549300NPDB0BZTK3WO90 | Long             | EC               | CORP              | US        |      7615 | NS      | $591000.15    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Regal Rexnord Corp             | Regal Beloit Corp                          | CUSIP: 758750103<br>LEI: QH78R09VCJGQKPBPYU33 | Long             | EC               | CORP              | US        |      3450 | NS      | $515188.50    | 0.98%             |  |  |  | No            |                  1 | On Loan: No      |
| Charles Schwab Corp/The        | Charles Schwab Corp/The                    | CUSIP: 808513105<br>LEI: 549300VSGCJ7E698NM85 | Long             | EC               | CORP              | US        |      9615 | NS      | $921501.60    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| State Street Corp              | State Street Corp                          | CUSIP: 857477103<br>LEI: 549300ZFEEJ2IP5VME73 | Long             | EC               | CORP              | US        |      4915 | NS      | $565077.55    | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Truist Financial Corp          | Truist Financial Corp                      | CUSIP: 89832Q109<br>LEI: 549300DRQQI75D2JP341 | Long             | EC               | CORP              | US        |     11531 | NS      | $539881.42    | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| Ubisoft Entertainment SA       | Ubisoft Entertainment SA                   | CUSIP: 90348R102<br>LEI: 969500I7C8V1LBIMSM05 | Long             | EC               | CORP              | FR        |    245000 | NS      | $521850.00    | 0.99%             |  |  |  | No            |                  1 | On Loan: No      |
| Viatris Inc                    | Viatris Inc                                | CUSIP: 92556V106<br>LEI: 254900ZZTSW7NL773X71 | Long             | EC               | CORP              | US        |    112455 | NS      | $1186400.25   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| WEC Energy Group Inc           | WEC Energy Group Inc                       | CUSIP: 92939U106<br>LEI: 549300IGLYTZUK3PVP70 | Long             | EC               | CORP              | US        |      6800 | NS      | $724268.00    | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Zions Bancorp NA               | Zions Bancorporation                       | CUSIP: 989701107<br>LEI: 8WH0EE09O9V05QJZ3V89 | Long             | EC               | CORP              | US        |     12585 | NS      | $730055.85    | 1.39%             |  |  |  | No            |                  1 | On Loan: No      |
| Jazz Pharmaceuticals PLC       | Jazz Pharmaceuticals PLC                   | CUSIP: G50871105<br>LEI: 635400GAUMJCLEZRRV50 | Long             | EC               | CORP              | IE        |      6570 | NS      | $839317.50    | 1.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomad Foods Ltd                | Nomad Foods Ltd                            | CUSIP: G6564A105<br>LEI: 5493000ZZ1837DS2SI43 | Long             | EC               | CORP              | GB        |     32350 | NS      | $502719.00    | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Calix Inc                      | Calix Inc                                  | CUSIP: 13100M509<br>LEI: 5299002RQRZ4SXSCSJ58 | Long             | EC               | CORP              | US        |     13915 | NS      | $827246.75    | 1.57%             |  |  |  | No            |                  1 | On Loan: No      |
| Cameco Corp                    | Cameco Corp                                | CUSIP: 13321L108<br>LEI: N4BHALMXL3GMZKCUON55 | Long             | EC               | CORP              | CA        |      4760 | NS      | $368376.40    | 0.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Coherent Corp                  | Coherent Corp                              | CUSIP: 19247G107<br>LEI: 549300O5C25A0MMHHU33 | Long             | EC               | CORP              | US        |      5900 | NS      | $533773.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Colliers International Group I | Colliers International Group Inc           | CUSIP: 194693107<br>LEI: D3O8K13PHLEXXD1DT480 | Long             | EC               | CORP              | CA        |      4275 | NS      | $706871.25    | 1.34%             |  |  |  | No            |                  1 | On Loan: No      |
| Viavi Solutions Inc            | Viavi Solutions Inc                        | CUSIP: 925550105<br>LEI: 5493006K3E3N1QOBF092 | Long             | EC               | CORP              | US        |     44901 | NS      | $506483.28    | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Xylem Inc/NY                   | Xylem Inc/NY                               | CUSIP: 98419M100<br>LEI: 549300DF5MV96DRYLQ48 | Long             | EC               | CORP              | US        |      4199 | NS      | $594410.44    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Exact Sciences Corp            | Exact Sciences Corp                        | CUSIP: 30063P105<br>LEI: 549300VM3X1FYD4N9Z14 | Long             | EC               | CORP              | US        |     22390 | NS      | $1061733.80   | 2.02%             |  |  |  | No            |                  1 | On Loan: No      |
| Xcel Energy Inc                | Xcel Energy Inc                            | CUSIP: 98389B100<br>LEI: LGJNMI9GH8XIDG5RCM61 | Long             | EC               | CORP              | US        |      6070 | NS      | $439407.30    | 0.83%             |  |  |  | No            |                  1 | On Loan: No      |
| Acadia Healthcare Co Inc       | Acadia Healthcare Co Inc                   | CUSIP: 00404A109<br>LEI: 5493005CW985Y9D0NC11 | Long             | EC               | CORP              | US        |      6285 | NS      | $144303.60    | 0.27%             |  |  |  | No            |                  1 | On Loan: No      |
| Annaly Capital Management Inc  | Annaly Capital Management Inc              | CUSIP: 035710839<br>LEI: 2DTL0G3FPRYUT58TI025 | Long             | EC               | CORP              | US        |     33456 | NS      | $708932.64    | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Alliant Energy Corp            | Alliant Energy Corp                        | CUSIP: 018802108<br>LEI: 5493009ML300G373MZ12 | Long             | EC               | CORP              | US        |      9200 | NS      | $598644.00    | 1.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Cheniere Energy Inc            | Cheniere Energy Inc                        | CUSIP: 16411R208<br>LEI: MIHC87W9WTYSYZWV1J40 | Long             | EC               | CORP              | US        |      2560 | NS      | $619059.20    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Chewy Inc                      | Chewy Inc                                  | CUSIP: 16679L109<br>LEI: 254900NPQSTG9I422879 | Long             | EC               | CORP              | US        |      5095 | NS      | $208691.20    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Concentrix Corp                | Concentrix Corp                            | CUSIP: 20602D101<br>LEI: 5493000EAJN1KMPVA737 | Long             | EC               | CORP              | US        |     24725 | NS      | $1304491.00   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Cooper Cos Inc/The             | Cooper Cos Inc/The                         | CUSIP: 216648501<br>LEI: QJKMVPIGLH7530PCUE20 | Long             | EC               | CORP              | US        |      6850 | NS      | $461655.75    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| eBay Inc                       | eBay Inc                                   | CUSIP: 278642103<br>LEI: OML71K8X303XQONU6T67 | Long             | EC               | CORP              | US        |      8350 | NS      | $756593.50    | 1.44%             |  |  |  | No            |                  1 | On Loan: No      |
| Exxon Mobil Corp               | Exxon Mobil Corp                           | CUSIP: 30231G102<br>LEI: J3WHBG0MTS7O8ZVMDC91 | Long             | EC               | CORP              | US        |      4974 | NS      | $568478.46    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| FirstService Corp              | FirstService Corp                          | CUSIP: 33767E202<br>LEI: 5493000XUDIV75BCF118 | Long             | EC               | CORP              | CA        |      1855 | NS      | $373226.00    | 0.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Fiserv Inc                     | Fiserv Inc                                 | CUSIP: 337738108<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | EC               | CORP              | US        |      5608 | NS      | $774913.44    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Associated Banc-Corp           | Associated Banc-Corp                       | CUSIP: 045487105<br>LEI: 549300N3CIN473IW5094 | Long             | EC               | CORP              | US        |     31408 | NS      | $847073.76    | 1.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Citizens Financial Group Inc   | Citizens Financial Group Inc               | CUSIP: 174610105<br>LEI: 2138004JDDA4ZQUPFW65 | Long             | EC               | CORP              | US        |     11920 | NS      | $623177.60    | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Mueller Water Products Inc     | Mueller Water Products Inc                 | CUSIP: 624758108<br>LEI: 549300F7ZU4P1F8V8L60 | Long             | EC               | CORP              | US        |     13005 | NS      | $342811.80    | 0.65%             |  |  |  | No            |                  1 | On Loan: No      |
| Global Net Lease Inc           | Global Net Lease Inc                       | CUSIP: 379378201<br>LEI: 549300NUYANCT5SU8Z65 | Long             | EC               | CORP              | US        |     58795 | NS      | $462716.65    | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Green Thumb Industries Inc     | Green Thumb Industries Inc                 | CUSIP: 39342L108<br>LEI: 529900Q0L3K192QQY915 | Long             | EC               | CORP              | CA        |     86930 | NS      | $755413.01    | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Infineon Technologies AG       | Infineon Technologies AG                   | CUSIP: 45662N103<br>LEI: TSI2PJM6EPETEQ4X1U25 | Long             | EC               | CORP              | DE        |     25020 | NS      | $1026070.20   | 1.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Mattel Inc                     | Mattel Inc                                 | CUSIP: 577081102<br>LEI: 549300VELLG24KHTJ564 | Long             | EC               | CORP              | US        |     12180 | NS      | $222894.00    | 0.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Microchip Technology Inc       | Microchip Technology Inc                   | CUSIP: 595017104<br>LEI: 5493007PTFULNYZJ1R12 | Long             | EC               | CORP              | US        |      9650 | NS      | $627250.00    | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| O-I Glass Inc                  | O-I Glass Inc                              | CUSIP: 67098H104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     97409 | NS      | $1265342.91   | 2.40%             |  |  |  | No            |                  1 | On Loan: No      |
| Okta Inc                       | Okta Inc                                   | CUSIP: 679295105<br>LEI: 549300N8J06I8MRHU620 | Long             | EC               | CORP              | US        |      5150 | NS      | $477765.50    | 0.91%             |  |  |  | No            |                  1 | On Loan: No      |
| PNC Financial Services Group I | PNC Financial Services Group Inc/The       | CUSIP: 693475105<br>LEI: CFGNEKW0P8842LEUIA51 | Long             | EC               | CORP              | US        |      2880 | NS      | $597427.20    | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| PayPal Holdings Inc            | PayPal Holdings Inc                        | CUSIP: 70450Y103<br>LEI: 5493005X2GO78EFZ3E94 | Long             | EC               | CORP              | US        |      8775 | NS      | $615917.25    | 1.17%             |  |  |  | No            |                  1 | On Loan: No      |
| Premier Inc                    | Premier Inc                                | CUSIP: 74051N102<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     26030 | NS      | $674177.00    | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| SS&C Technologies Holdings Inc | SS&C Technologies Holdings Inc             | CUSIP: 78467J100<br>LEI: 529900POY8H7NPPNKK71 | Long             | EC               | CORP              | US        |      8950 | NS      | $793507.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Target Corp                    | Target Corp                                | CUSIP: 87612E106<br>LEI: 8WDDFXB5T1Z6J0XC1L66 | Long             | EC               | CORP              | US        |      7525 | NS      | $722249.50    | 1.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Teleflex Inc                   | Teleflex Inc                               | CUSIP: 879369106<br>LEI: UUL85LWXB4NGSWWXIQ25 | Long             | EC               | CORP              | US        |      5545 | NS      | $700943.45    | 1.33%             |  |  |  | No            |                  1 | On Loan: No      |
| TopBuild Corp                  | TopBuild Corp                              | CUSIP: 89055F103<br>LEI: 5493007YSKHOL4RWII46 | Long             | EC               | CORP              | US        |      1355 | NS      | $570129.82    | 1.08%             |  |  |  | No            |                  1 | On Loan: No      |
| WillScot Holdings Corp         | WillScot Mobile Mini Holdings Corp         | CUSIP: 971378104<br>LEI: 549300HJ4VIXF476Q166 | Long             | EC               | CORP              | US        |     18241 | NS      | $442161.84    | 0.84%             |  |  |  | No            |                  1 | On Loan: No      |
| SYCAMORE PARTNERS LLC -RIGHT   | SYCAMORE PARTNERS LLC -RIGHT               | CUSIP: N/A<br>LEI: N/A                        | Long             | EC               | CORP              | US        |     57695 | NS      | $0.00         | 0.00%             |  |  |  | Yes           |                  3 | On Loan: No      |
| AMN Healthcare Services Inc    | AMN Healthcare Services Inc                | CUSIP: 001744101<br>LEI: 529900W3ARRTCNFH2I39 | Long             | EC               | CORP              | US        |     39340 | NS      | $817485.20    | 1.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Electronic Arts Inc            | Electronic Arts Inc                        | CUSIP: 285512109<br>LEI: 549300O7A67PUEYKDL45 | Long             | EC               | CORP              | US        |      4500 | NS      | $773775.00    | 1.47%             |  |  |  | No            |                  1 | On Loan: No      |
| Hasbro Inc                     | Hasbro Inc                                 | CUSIP: 418056107<br>LEI: 549300NUB6D2R1ITYR45 | Long             | EC               | CORP              | US        |      3850 | NS      | $312504.50    | 0.59%             |  |  |  | No            |                  1 | On Loan: No      |
| A O Smith Corp                 | AO Smith Corp                              | CUSIP: 831865209<br>LEI: 549300XG4US7UJNECY36 | Long             | EC               | CORP              | US        |      8290 | NS      | $590994.10    | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Topgolf Callaway Brands Corp   | Callaway Golf Co                           | CUSIP: 131193104<br>LEI: 5493005UB0KFRKBPCU72 | Long             | EC               | CORP              | US        |     42580 | NS      | $407064.80    | 0.77%             |  |  |  | No            |                  1 | On Loan: No      |
| Warner Bros Discovery Inc      | Warner Bros Discovery Inc                  | CUSIP: 934423104<br>LEI: 5493006ZCRFWKF6B1K26 | Long             | EC               | CORP              | US        |    149190 | NS      | $1736571.60   | 3.30%             |  |  |  | No            |                  1 | On Loan: No      |
| Marvell Technology Inc         | Marvell Technology Inc                     | CUSIP: 573874104<br>LEI: N/A                  | Long             | EC               | CORP              | US        |     14640 | NS      | $920343.60    | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Neurocrine Biosciences Inc     | Neurocrine Biosciences Inc                 | CUSIP: 64125C109<br>LEI: 549300FECER0XBN49756 | Long             | EC               | CORP              | US        |      9755 | NS      | $1361798.00   | 2.59%             |  |  |  | No            |                  1 | On Loan: No      |
| Park Hotels & Resorts Inc      | Park Hotels & Resorts Inc                  | CUSIP: 700517105<br>LEI: 5493005UZ5TQN0H6HS73 | Long             | EC               | CORP              | US        |     45300 | NS      | $532728.00    | 1.01%             |  |  |  | No            |                  1 | On Loan: No      |
| Performance Food Group Co      | Performance Food Group Co                  | CUSIP: 71377A103<br>LEI: 549300EUK8GR9IT1YK57 | Long             | EC               | CORP              | US        |      7855 | NS      | $796497.00    | 1.51%             |  |  |  | No            |                  1 | On Loan: No      |
| Pool Corp                      | Pool Corp                                  | CUSIP: 73278L105<br>LEI: 5493005VZK1KMN6CO617 | Long             | EC               | CORP              | US        |       675 | NS      | $209729.25    | 0.40%             |  |  |  | No            |                  1 | On Loan: No      |
| James Hardie Industries PLC    | James Hardie Industries PLC                | CUSIP: G4253H101<br>LEI: 635400NSGXKTVOO7JU45 | Long             | EC               | CORP              | IE        |     27587 | NS      | $555326.31    | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Kornit Digital Ltd             | Kornit Digital Ltd                         | CUSIP: M6372Q113<br>LEI: 5299006DPCQWP3VTFK34 | Long             | EC               | CORP              | IL        |     68055 | NS      | $1016741.70   | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| NXP Semiconductors NV          | NXP Semiconductors NV                      | CUSIP: N6596X109<br>LEI: 724500M9BY5293JDF951 | Long             | EC               | CORP              | NL        |      4795 | NS      | $1126105.75   | 2.14%             |  |  |  | No            |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-29

**Name of Applicant:** Thompson IM Funds, Inc.

**Signature:** /s/ Jason L. Stephens

**Name of Signer:** Jason L. Stephens

**Title:** Chief Executive Officer