THORNBURG INVESTMENT MANAGEMENT INC — 13F Holdings & Portfolio
CIK 1145020 · latest 13F-HR filed 2026-08-13
THORNBURG INVESTMENT MANAGEMENT INC manages $10.45B in 13F-reported U.S. long-equity assets across 139 reported positions as of its 2026-06-30 13F-HR filing. Its largest disclosed positions are C (10.10%), TTE (8.79%), T (7.13%). Quarter over quarter (versus its 2026-03-31 filing) the fund opened 8 new positions and exited 40; 74 existing positions rose in reported value and 37 fell.
AUM is the long-equity portion reported on Form 13F-HR. Excludes short positions, cash, foreign holdings, and non-13F assets. For informational purposes only — not investment advice.
Loading holdings…
AUM
$10.45B
Long-equity book
Holdings
139
Distinct positions
Period
2026-06-30
Filed 2026-08-13
Q/Q Activity
+8 / −40 / ↑74 / ↓37
vs 2026-03-31
Portfolio charts
Latest quarter's book, what changed, and how the portfolio has evolved across filings.
Portfolio map
Q2 26C10.1% · -6%TTE8.8% · +1%T7.1% · +16%AVGO6.6% · -12%KMB6.0% · newAZN5.2% · +1%MRK4.7% · +2%TSM3.5% · +9%CSCO3.1% · -7%TRP3.0% · +1%CME2.4% · -1%EQH2.2% · +3%FCX2.0% · +16%RF1.9% · +4%ENB1.9% · +1%MDT1.9% · +24%CP1.7% · -0%GOOGL1.7% · +15%HD1.6% · -11%LIN1.3% · -1%ABBV1.3% · +8%SOBO1.3% · +2%FER1.1% · -2%ALC1.0% · -4%SCHW1.0% · +45%LLY0.9% · +32%CIM0.7% · +1%META0.7% · +3%BZ0.7% · -13%MA0.6% · +26%BABA0.6% · +1%SLRC0.6% · +2%BKNG0.5% · +2721%ADBE0.5% · +56%MELI0.5% · -5%AMD0.5% · -31%NFLX0.5% · +428%PFE0.5% · -12%TJX0.4% · +17%LHX0.4% · +21%COF0.4% · +43%CACI0.4% · +2%ASML0.4% · -4%MU0.3% · +27%SE0.3% · -1%MFIC0.3% · 0%RACE0.3% · -17%SHOP0.3% · +6%MSFT0.2% · +140%MUFG0.2% · +14%AAPL0.2% · +6171%ING0.2% · +14%COHR0.2% · -29%ANET0.2% · -31%TLN0.2% · +22%CIGI0.2% · +64%SAP0.2% · +17%AER0.2% · +6%SHEL0.2% · +100%CCZ0.2% · 0%
Box size = position value; colour = change in share count vs the prior quarter (green added, red trimmed, blue new). Rows split across managers or share classes are combined. Click a box for the stock.
Sector mix
% of 13F valueSectors from each company's SIC code; funds and ETFs grouped separately.
Biggest buys and sells
Q1 26 → Q2 26Estimated from the change in shares held × the quarter-end price, so price moves alone don't count as buying. New and exited positions are included.
13F assets and positions
4 quartersTotal reported 13F value (bars) and number of positions (line) each quarter. Value changes include market moves.
Top positions over time
reported valueThe eight largest current positions, valued at each quarter end.
Concentration
top 10 = 58.1%Cumulative share of the portfolio held in the largest N positions.
Firm Profile & Key People
As of the firm’s regulatory filing dated Mar 27, 2026.
Assets Under Management
$54.45B
Discretionary
$54.45B
Employees
219
Accounts
635
Address
2300 NORTH RIDGETOP ROAD
SANTA FE, NM 87506
SANTA FE, NM 87506
Phone
(505) 467-7283
This firm reports 1 disclosure item on its registration.
| Name | Title / Status | Ownership | Type |
|---|---|---|---|
| BHATT, NIMISH, SANJAY Control | CHIEF FINANCIAL OFFICER AND TREASURER since Aug 2016 | Less than 5% | Individual |
| BOYD, BRIAN, TANEY Control | DIRECTOR since Dec 2023 | Less than 5% | Individual |
| CALLOW, AMY, MIKOLAJCZYK Control | GENERAL COUNSEL AND SECRETARY since Jan 2022 | Less than 5% | Individual |
| GARRETT THORNBURG REVOCABLE TRUST Control | SHAREHOLDER since Sep 1990 | 75% or more | Domestic Entity |
| KELLER, ROBIN, RIVERS Control | DIRECTOR since Aug 2022 | Less than 5% | Individual |
| KEMOS, TANYA Control | DIRECTOR since Jan 2025 | Less than 5% | Individual |
| MCMAHON, BRIAN, JOHN Control | VICE CHAIRMAN, DIRECTOR since Jan 2016 | Less than 5% | Individual |
| NAYLOR, BLAIR, CUDD Control | DIRECTOR since Apr 2021 | Less than 5% | Individual |
| THORNBURG, HAROLD, GARRETT Control | CHAIRMAN,DIRECTOR since Aug 1997 | Less than 5% | Individual |
| XIQUES, GLADYS Control | CHIEF COMPLIANCE OFFICER since Sep 2025 | Less than 5% | Individual |
| ZINKULA, MARK, JOSEPH Control | PRESIDENT, CHIEF EXECUTIVE OFFICER, DIRECTOR since Sep 2023 | Less than 5% | Individual |
| THORNBURG, HAROLD, GARRETT Control Indirect owner via GARRETT THORNBURG REVOCABLE TRUST | TRUSTEE since Jul 1990 | 75% or more | Individual |
Ownership & leadership changes · 31 filings with changes since Mar 29, 2012
From the firm’s regulatory filings, newest first. Dates are filing dates: a filing that no longer lists someone does not say when they left.
Nov 6, 2025 filing
- No longer listedROGERS, WILLIAM, ALLAN · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Jul 2024
Sep 3, 2025 filing
- No longer listedVELIE, STEPHEN, JOHN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person · listed since Jul 2009
- AddedXIQUES, GLADYS · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Jan 23, 2025 filing
- AddedKEMOS, TANYA · DIRECTOR · Less than 5% · control person
Oct 17, 2024 filing
- No longer listedGARRET THORNBURG REVOCABLE TRUST · SHAREHOLDER · 75% or more · control person · listed since Sep 1990
- No longer listedTHORNBURG, HAROLD, GARRETT · TRUSTEE · 75% or more · indirect via GARRET THORNBURG REVOCABLE TRUST · control person · listed since Aug 1997
- AddedGARRETT THORNBURG REVOCABLE TRUST · SHAREHOLDER · 75% or more · control person
- AddedTHORNBURG, HAROLD, GARRETT · TRUSTEE · 75% or more · indirect via GARRETT THORNBURG REVOCABLE TRUST · control person
Jul 24, 2024 filing
- AddedROGERS, WILLIAM, ALLAN · CHIEF OPERATING OFFICER · Less than 5% · control person
Apr 16, 2024 filing
- No longer listedDRY, RANDALL, LEON · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Jan 2020
Apr 5, 2024 filing
- ChangedTHORNBURG, HAROLD, GARRETT · title TRUSTEE → CHAIRMAN,DIRECTOR
- ChangedTHORNBURG, HAROLD, GARRETT · indirect via GARRET THORNBURG REVOCABLE TRUST: title CHAIRMAN, DIRECTOR → TRUSTEE
Apr 4, 2024 filing
- ChangedTHORNBURG, HAROLD, GARRETT · title CHAIRMAN, DIRECTOR → TRUSTEE
Mar 28, 2024 filing
- ChangedVELIE, STEPHEN, JOHN · now a control person
Mar 12, 2024 filing
- AddedGARRET THORNBURG REVOCABLE TRUST · SHAREHOLDER · 75% or more · control person
- AddedTHORNBURG, HAROLD, GARRETT · CHAIRMAN, DIRECTOR · 75% or more · indirect via GARRET THORNBURG REVOCABLE TRUST · control person
- ChangedTHORNBURG, HAROLD, GARRETT · ownership 75% or more → Less than 5%
Older changes (22 more filings)
Feb 27, 2024 filing
- No longer listedGOTBAUM, JOSHUA · DIRECTOR · Less than 5% · control person · listed since Mar 2019
Jan 18, 2024 filing
- AddedBOYD, BRIAN, TANEY · DIRECTOR · Less than 5% · control person
Oct 3, 2023 filing
- No longer listedBRADY, JASON, HENRY · PRESIDENT, CHIEF EXECUTIVE OFFICER, DIRECTOR · Less than 5% · control person · listed since Jan 2016
- AddedZINKULA, MARK, JOSEPH · PRESIDENT, CHIEF EXECUTIVE OFFICER, DIRECTOR · Less than 5% · control person
Feb 1, 2023 filing
- AddedKELLER, ROBIN, RIVERS · DIRECTOR · Less than 5% · control person
Mar 31, 2022 filing
- No longer listedSZE, JULIA, WANG · DIRECTOR · Less than 5% · control person · listed since Dec 2020
- ChangedCALLOW, AMY, MIKOLAJCZYK · title GENERAL COUNSEL → GENERAL COUNSEL AND SECRETARY
Mar 28, 2022 filing
- No longer listedCUTLER, ELIOT · DIRECTOR · Less than 5% · control person · listed since Oct 2017
Feb 17, 2022 filing
- AddedCALLOW, AMY, MIKOLAJCZYK · GENERAL COUNSEL · Less than 5% · control person
May 21, 2021 filing
- No longer listedDRY, RANDY, LEE · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Jan 2020
- AddedDRY, RANDALL, LEON · CHIEF OPERATING OFFICER · Less than 5% · control person
Mar 30, 2021 filing
- AddedNAYLOR, BLAIR, CUDD · DIRECTOR · Less than 5% · control person
Feb 5, 2021 filing
- AddedSZE, JULIA, WANG · DIRECTOR · Less than 5% · control person
Jan 6, 2020 filing
- AddedDRY, RANDY, LEE · CHIEF OPERATING OFFICER · Less than 5% · control person
Mar 29, 2019 filing
- AddedGOTBAUM, JOSHUA · DIRECTOR · Less than 5% · control person
Apr 3, 2018 filing
- AddedCUTLER, ELIOT · DIRECTOR · Less than 5% · control person
- ChangedBRADY, JASON, HENRY · title PRESIDENT AND CHIEF EXECUTIVE OFFICER → PRESIDENT, CHIEF EXECUTIVE OFFICER, DIRECTOR
- ChangedMCMAHON, BRIAN, JOHN · title VICE CHAIRMAN → VICE CHAIRMAN, DIRECTOR
- ChangedTHORNBURG, HAROLD, GARRETT · title CHAIRMAN → CHAIRMAN, DIRECTOR
Mar 31, 2017 filing
- ChangedBHATT, NIMISH, SANJAY · title CHIEF FINANCIAL OFFICER/TREASURER → CHIEF FINANCIAL OFFICER AND TREASURER
Oct 24, 2016 filing
- No longer listedDOORLEY, MICHAEL, GERARD · CHIEF OPERATING OFFICER · Less than 5% · control person · listed since Jun 2013
Aug 19, 2016 filing
- AddedBHATT, NIMISH, SANJAY · CHIEF FINANCIAL OFFICER/TREASURER · Less than 5% · control person
Mar 31, 2016 filing
- ChangedBRADY, JASON, HENRY · title PRESIDENT → PRESIDENT AND CHIEF EXECUTIVE OFFICER
Jan 6, 2016 filing
- AddedBRADY, JASON, HENRY · PRESIDENT · Less than 5% · control person
- ChangedMCMAHON, BRIAN, JOHN · title PRESIDENT → VICE CHAIRMAN
May 28, 2015 filing
- No longer listedDOBBS, CAROLYN, MARIE · TREASURER/CORPORATE SECRETARY · Less than 5% · listed since Feb 2007
Jul 26, 2013 filing
- AddedDOORLEY, MICHAEL, GERARD · CHIEF OPERATING OFFICER · Less than 5% · control person
Mar 22, 2013 filing
- ChangedDOBBS, CAROLYN, MARIE · no longer a control person
- ChangedVELIE, STEPHEN, JOHN · no longer a control person
Mar 29, 2012 filing (earliest on record)
- ListedDOBBS, CAROLYN, MARIE · TREASURER/CORPORATE SECRETARY · Less than 5% · control person
- ListedMCMAHON, BRIAN, JOHN · PRESIDENT · Less than 5% · control person
- ListedTHORNBURG, HAROLD, GARRETT · CHAIRMAN · 75% or more · control person
- ListedVELIE, STEPHEN, JOHN · CHIEF COMPLIANCE OFFICER · Less than 5% · control person
Quarter-over-quarter changes
Changes in reported position value vs the prior 13F, so price moves count too, not just shares bought or sold.
Top Adds (vs prior quarter)
- CITIGROUP INC$150.3M +16.6%
- TAIWAN SEMICONDUCTOR MANUFAC$128.3M +54.1%
- CISCO SYS INC$92.9M +41.1%
- ALPHABET INC$52.2M +42.7%
- BROADCOM INC$46.4M +7.2%
Top Trims
- TOTALENERGIES SE-$170.9M -15.7%
- AT&T INC-$154.3M -17.1%
- CME GROUP INC-$88.2M -26.1%
- LYONDELLBASELL INDUSTRIES NV-$74.3M -94.5%
- TRANSDIGM GROUP INC-$31.1M -90.6%
New Positions
- KIMBERLY-CLARK CORP$632.4M
- IQVIA HLDGS INC$13.3M
- UBER TECHNOLOGIES INC$11.3M
- LAM RESEARCH CORP$8.8M
- SOMNIGROUP INTERNATIONAL INC$6.4M
Exited Positions
- VANGUARD INDEX FDS$16.9M
- MACOM TECH SOLUTIONS HLDGS I$16.6M
- CASELLA WASTE SYS INC$16.1M
- DUCOMMUN INC DEL$15.9M
- APPLIED INDL TECHNOLOGIES IN$15.0M
THORNBURG INVESTMENT MANAGEMENT INC Holdings (2026-06-30)
Rows tagged Call or Put are options positions, not stock. Per SEC Form 13F-HR, Value shows the notional value of the underlying (shares covered × underlying price), not the option premium. Shares is the number of underlying shares covered (divide by 100 for contract count).
| # | Issuer | Symbol | CUSIP | Value | Weight | Shares | Type |
|---|---|---|---|---|---|---|---|
| 1 | CITIGROUP INC | C | 172967424 | $1.06B | 10.10% | 7,546,686 | SH |
| 2 | TOTALENERGIES SE | TTE | F92124100 | $919.0M | 8.79% | 11,828,205 | SH |
| 3 | AT&T INC | T | 00206R102 | $745.7M | 7.13% | 36,023,313 | SH |
| 4 | BROADCOM INC | AVGO | 11135F101 | $691.3M | 6.61% | 1,830,149 | SH |
| 5 | KIMBERLY-CLARK CORP | KMB | 494368103 | $632.4M | 6.05% | 5,760,888 | SH |
| 6 | ASTRAZENECA PLC | AZN | G0593M107 | $540.6M | 5.17% | 2,891,426 | SH |
| 7 | MERCK & CO INC | MRK | 58933Y105 | $486.8M | 4.66% | 3,787,976 | SH |
| 8 | TAIWAN SEMICONDUCTOR MANUFAC | TSM | 874039100 | $365.3M | 3.49% | 764,867 | SH |
| 9 | CISCO SYS INC | CSCO | 17275R102 | $319.0M | 3.05% | 2,715,962 | SH |
| 10 | TC ENERGY CORP | TRP | 87807B107 | $314.6M | 3.01% | 4,755,014 | SH |
| 11 | CME GROUP INC | CME | 12572Q105 | $250.1M | 2.39% | 1,132,435 | SH |
| 12 | EQUITABLE HLDGS INC | EQH | 29452E101 | $225.6M | 2.16% | 5,142,337 | SH |
| 13 | FREEPORT MCMORAN INC | FCX | 35671D857 | $207.8M | 1.99% | 3,304,828 | SH |
| 14 | REGIONS FINANCIAL CORP NEW | RF | 7591EP100 | $203.7M | 1.95% | 6,746,453 | SH |
| 15 | ENBRIDGE INC | ENB | 29250N105 | $199.1M | 1.90% | 3,674,988 | SH |
| 16 | MEDTRONIC PLC | MDT | G5960L103 | $196.5M | 1.88% | 2,511,730 | SH |
| 17 | CANADIAN PACIFIC KANSAS CITY | CP | 13646K108 | $174.8M | 1.67% | 2,017,847 | SH |
| 18 | ALPHABET INC | GOOGL | 02079K305 | $174.4M | 1.67% | 488,051 | SH |
| 19 | HOME DEPOT INC | HD | 437076102 | $164.0M | 1.57% | 464,895 | SH |
| 20 | LINDE PLC | LIN | G54950103 | $140.7M | 1.35% | 270,794 | SH |
| 21 | ABBVIE INC | ABBV | 00287Y109 | $136.2M | 1.30% | 541,146 | SH |
| 22 | SOUTH BOW CORP | SOBO | 83671M105 | $131.0M | 1.25% | 3,721,332 | SH |
| 23 | FERROVIAL NV | FER | N3168P101 | $117.3M | 1.12% | 1,712,697 | SH |
| 24 | ALCON AG | ALC | H01301128 | $109.7M | 1.05% | 1,632,356 | SH |
| 25 | SCHWAB CHARLES CORP | SCHW | 808513105 | $108.0M | 1.03% | 1,170,451 | SH |
| 26 | ELI LILLY & CO | LLY | 532457108 | $95.6M | 0.91% | 79,682 | SH |
| 27 | CHIMERA INVT CORP | CIM | 16934Q802 | $73.5M | 0.70% | 5,511,923 | SH |
| 28 | META PLATFORMS INC | META | 30303M102 | $73.5M | 0.70% | 130,466 | SH |
| 29 | KANZHUN LIMITED | BZ | 48553T106 | $69.7M | 0.67% | 5,413,729 | SH |
| 30 | MASTERCARD INCORPORATED | MA | 57636Q104 | $63.4M | 0.61% | 123,446 | SH |
| 31 | ALIBABA GROUP HLDG LTD | BABA | 01609W102 | $59.3M | 0.57% | 617,721 | SH |
| 32 | SLR INVESTMENT CORP | SLRC | 83413U100 | $58.2M | 0.56% | 4,708,772 | SH |
| 33 | BOOKING HOLDINGS INC | BKNG | 09857L108 | $56.4M | 0.54% | 316,223 | SH |
| 34 | ADOBE INC | ADBE | 00724F101 | $55.3M | 0.53% | 269,807 | SH |
| 35 | MERCADOLIBRE INC | MELI | 58733R102 | $50.0M | 0.48% | 29,450 | SH |
| 36 | ADVANCED MICRO DEVICES INC | AMD | 007903107 | $49.0M | 0.47% | 84,425 | SH |
| 37 | NETFLIX INC. | NFLX | 64110L106 | $47.5M | 0.45% | 665,548 | SH |
| 38 | PFIZER INC | PFE | 717081103 | $47.4M | 0.45% | 1,970,004 | SH |
| 39 | TJX COS INC NEW | TJX | 872540109 | $46.8M | 0.45% | 308,876 | SH |
| 40 | L3HARRIS TECHNOLOGIES INC | LHX | 502431109 | $44.5M | 0.43% | 153,148 | SH |
| 41 | CAPITAL ONE FINL CORP | COF | 14040H105 | $40.1M | 0.38% | 199,843 | SH |
| 42 | CACI INTL INC | CACI | 127190304 | $39.9M | 0.38% | 86,051 | SH |
| 43 | ASML HLDG NV | ASML | N07059210 | $37.3M | 0.36% | 18,747 | SH |
| 44 | MICRON TECHNOLOGY INC | MU | 595112103 | $36.1M | 0.35% | 31,289 | SH |
| 45 | SEA LTD | SE | 81141R100 | $35.0M | 0.33% | 365,023 | SH |
| 46 | MIDCAP FINANCIAL INVSTMNT CO | MFIC | 03761U502 | $32.6M | 0.31% | 3,237,783 | SH |
| 47 | FERRARI N V | RACE | N3167Y103 | $29.7M | 0.28% | 79,745 | SH |
| 48 | SHOPIFY INC | SHOP | 82509L107 | $28.2M | 0.27% | 246,547 | SH |
| 49 | MICROSOFT CORP | MSFT | 594918104 | $24.6M | 0.24% | 65,940 | SH |
| 50 | MITSUBISHI UFJ FINANCIAL GRO | MUFG | 606822104 | $24.5M | 0.23% | 1,229,407 | SH |
Filing History
| Period | Filed | AUM | Holdings | Accession |
|---|---|---|---|---|
| 2026-06-30 | 2026-08-13 | $10.45B | 139 | 0001140361-26-032780 |
| 2026-03-31 | 2026-05-12 | $9.63B | 171 | 0001140361-26-020785 |
| 2025-12-31 | 2026-02-13 | $7.93B | 176 | 0001140361-26-005232 |
| 2025-09-30 | 2025-11-12 | $7.67B | 176 | 0001140361-25-041494 |
Filer Information
Address
2300 NORTH RIDGETOP ROADSANTA FE, NM 87506-8361
Phone
(505) 984-0200
Filing Manager
THORNBURG INVESTMENT MANAGEMENT INC
SANTA FE, NM
Signatory
Gladys Xiques
Chief Compliance Officer