Abstract: The magnetic-field dependence of the hole states in a nanocup, which is composed of a ring (the nanocup rim) that surrounds a disk (the nanocup bottom), is obtained within the Luttinger-Kohn model for the unstrained GaAs/(Al,Ga) As and the strained (In,Ga) As/GaAs systems. Aharonov-Bohm oscillations due to angular momentum transitions of the hole ground state appear with periods that vary with the thickness of the disk. The strain in the (In, Ga) As/GaAs nanocup is sensitive to the disk thickness and favors the spatial localization of the heavy holes inside the disk. Therefore, the angular momentum transitions between the valence-band states disappear for much thinner disks than in the case of the unstrained GaAs/(Al, Ga) As nanocups. In both systems, the oscillations in the energy of the hole ground state are found to disappear for thinner inner layer than in the electron ground-state energy. This is due to the different confining potentials and the mixing between the heavy- and light-hole states. As a consequence, magnetization of the single hole is found to strongly depend on the bottom thickness of the strained (In, Ga) As/GaAs nanocup. Furthermore, we found that the strain can lead to a spatial separation of the electron and the hole, as in type-II band alignment, which is advantageous for the appearance of the excitonic Aharonov-Bohm effect.