Document collections evolve over time, new topics emerge and old ones decline. At the same time, the terminology evolves as well. Much literature is devoted to topic evolution in nite document sequences assuming a xed vocabulary. In this study, we propose \Topic Monitor" for the monitoring and understanding of topic and vocabulary evolution over an innite document sequence, i.e. a stream. We use Probabilistic Latent Semantic Analysis (PLSA) for topic modeling and propose new folding-in techniques for topic adaptation under an evolving vocabulary. We extract a series of models, on which we detect index-based topic threads as human-interpretable descriptions of topic evolution.