Q2 2026 13F · SEC CIK 1145020

Thornburg Investment Management Inc

Mutual fund managerFiled 2026-08-13 for Q2 2026. Open the filing ↗ · All SEC filings ↗

Reported 13F value: $10.4B
Reported positions: 138
Top holdings a year, 3 yrs: +22.9%
Assets under management: $54.5B

Thornburg Investment Management Inc is a mutual fund manager that reported 138 positions worth $10.4B in its Q2 2026 13F, filed 2026-08-13. Its largest holdings were Citigroup Inc Com New (C, 10.1%), Totalenergies SE Act (TTE, 8.8%), At&t Inc Com (T, 7.1%). A portfolio copying its top holdings returned 22.9% a year over the last 3 years, against 20.4% for the S&P 500.

Thornburg Investment Management Inc holdings largest 50 of 138 positions.

Weights are shares of the filer's total reported 13F value, compared with Q1 2026. Share changes may reflect splits; weight changes also reflect price moves. A 13F shows long US-listed positions only, up to 135 days after the fact.

Thornburg Investment Management Inc 13F holdings
Stock	% of 13F value	Q1 2026	Shares	Share change	Reported value
CCitigroup Inc Com New	10.1%	9.4%	7,546,686	-5.5%	$1.1B
TTETotalenergies SE Act	8.8%	11.3%	11,828,205	+1.4%	$919.0M
TAt&t Inc Com	7.1%	9.4%	36,023,313	+16.0%	$745.7M
AVGOBroadcom Inc	6.6%	6.7%	1,830,149	-12.2%	$691.3M
KMBKimberly-Clark Corporation	6.1%	—	5,760,888	—	$632.4M
AZNAstrazeneca PLC Ord	5.2%	5.8%	2,891,426	+1.1%	$540.6M
MRKMerck & Co. Inc	4.7%	4.7%	3,787,976	+1.6%	$486.8M
TSMTaiwan Semiconductor Manufac	3.5%	2.5%	764,867	+9.1%	$365.3M
CSCOCisco Sys Inc	3.1%	2.4%	2,715,962	-6.8%	$319.0M
TRPTc Energy Corp	3.0%	3.1%	4,755,014	+0.7%	$314.6M
CMECme Group Inc	2.4%	3.5%	1,132,435	-1.1%	$250.1M
EQHEquitable Hldgs Inc	2.2%	1.9%	5,142,337	+3.0%	$225.6M
FCXFreeport Mcmoran Inc Cl B	2.0%	1.7%	3,304,828	+16.5%	$207.8M
RFRegions Financial Corp New	2.0%	1.8%	6,746,453	+3.5%	$203.7M
ENBEnbridge Inc Com	1.9%	2.0%	3,674,988	+0.9%	$199.1M
MDTMedtronic PLC	1.9%	1.8%	2,511,730	+24.5%	$196.5M
CPCanadian Pacific Kansas City	1.7%	1.7%	2,017,847	-0.5%	$174.8M
GOOGLAlphabet Inc	1.7%	1.3%	488,051	+14.9%	$174.4M
HDHome Depot Inc Com	1.6%	1.8%	464,895	-10.8%	$164.0M
LINLinde PLC	1.3%	1.4%	270,794	-1.3%	$140.7M
ABBVAbbvie Inc	1.3%	1.1%	541,146	+7.6%	$136.2M
SOBOSouth Bow Corp	1.3%	1.3%	3,721,332	+2.4%	$131.0M
FERFerrovial NV	1.1%	1.2%	1,712,697	-1.5%	$117.3M
ALCAlcon AG	1.1%	1.3%	1,632,356	-4.5%	$109.7M
SCHWSchwab Charles Corp	1.0%	0.8%	1,170,451	+44.6%	$108.0M
LLYLilly Eli & Co	0.9%	0.6%	79,682	+32.4%	$95.6M
CIMChimera Invt Corp	0.7%	0.7%	5,511,923	+0.7%	$73.5M
METAMeta Platforms Inc Class A	0.7%	0.8%	130,466	+3.4%	$73.5M
BZKanzhun Limited	0.7%	0.9%	5,413,729	-13.1%	$69.7M
MAMastercard Inc.	0.6%	0.5%	123,446	+26.1%	$63.4M
BABAAlibaba Group Hldg Ltd	0.6%	0.8%	617,721	+1.2%	$59.3M
SLRCSlr Investment Corp	0.6%	0.7%	4,708,772	+1.6%	$58.2M
BKNGBooking Holdings Inc Com	0.5%	0.5%	316,223	+2720.6%	$56.4M
ADBEAdobe Inc	0.5%	0.4%	269,807	+55.5%	$55.3M
MELIMercadolibre Inc	0.5%	0.6%	29,450	-5.1%	$50.0M
AMDAdvanced Micro Devices Inc	0.5%	0.3%	84,425	-31.1%	$49.0M
NFLXNetflix Inc Total	0.5%	—	665,548	—	$47.5M
PFEPfizer Inc	0.5%	0.7%	1,970,004	-12.1%	$47.4M
TJXTjx Cos Inc New Com	0.4%	0.4%	308,876	+17.1%	$46.8M
LHXL3harris Technologies Inc	0.4%	0.5%	153,148	+20.9%	$44.5M
COFCapital One Financial Corp	0.4%	0.3%	199,843	+43.1%	$40.1M
CACICaci Intl Inc	0.4%	0.5%	86,051	+1.8%	$39.9M
ASMLAsml Hldg NV	0.4%	0.3%	18,747	-3.9%	$37.3M
MUMicron Technology Inc	0.3%	—	31,289	—	$36.1M
SESea Ltd	0.3%	0.3%	365,023	-1.3%	$35.0M
AINVMidcap Finl Investme	0.3%	0.4%	3,237,783	+0.0%	$32.6M
RACEFerrari N V	0.3%	0.3%	79,745	-17.0%	$29.7M
SHOPShopify Inc	0.3%	0.3%	246,547	+5.5%	$28.2M
MSFTMicrosoft Corp	0.2%	—	65,940	—	$24.6M
MITSFMitsubishi Ufj Financial Gro	0.2%	—	1,229,407	—	$24.5M

What Thornburg Investment Management Inc bought and sold in Q2 2026, against Q1 2026.

New positions

Q1 2026's filing was too long to tell new positions apart.

Share counts compared with the Q1 2026 13F; a split also changes share counts. The latest filing lists more than 50 positions, so a position that left the top 50 may still be held.

How the holdings did against the S&P 500.

1 year: +15.5% /yr; S&P 500 +20.1%
3 years: +22.9% /yr; S&P 500 +20.4%
5 years: +11.3% /yr; S&P 500 +11.6%

A portfolio of the filer's 20 largest 13F positions, weighted by value and rebuilt each quarter on the day the filing became public. 13Fs show long US-listed positions only, so this is an estimate of the stock picks, not the fund's reported returns.

Reported 13F value by quarter.

13F value by quarter
Quarter	13F value	Positions
Q2 2026	$10.4B	138
Q1 2026	$9.6B	169
Q4 2025	$7.9B	174
Q3 2025	$7.6B	174
Q2 2025	$7.8B	175
Q1 2025	$71.4B	181
Q4 2024	$7.6B	187
Q3 2024	$7.7B	191
Q2 2024	$7.1B	188
Q1 2024	$7.2B	186
Q4 2023	$6.9B	195
Q3 2023	$6.1B	195

Questions about Thornburg Investment Management Inc's portfolio

What stocks does Thornburg Investment Management Inc own?

Thornburg Investment Management Inc's latest 13F, for Q2 2026 and filed Aug 13, 2026, lists 138 positions worth $10.4B. The largest are Citigroup Inc Com New (C) at 10.1%, Totalenergies SE Act (TTE) at 8.8%, At&t Inc Com (T) at 7.1%, Broadcom Inc (AVGO) at 6.6% and Kimberly-Clark Corporation (KMB) at 6.1%.

What did Thornburg Investment Management Inc buy last quarter?

In Q2 2026, Thornburg Investment Management Inc added Booking Holdings Inc Com (BKNG) (+2720.6% shares), Adobe Inc (ADBE) (+55.5% shares) and Schwab Charles Corp (SCHW) (+44.6% shares), compared with its Q1 2026 filing.

What did Thornburg Investment Management Inc sell last quarter?

In Q2 2026, Thornburg Investment Management Inc cut from its top 50 LyondellBasell Industries NV (LYB), cut from its top 50 Transdigm Group Inc (TDG), cut from its top 50 Vertiv Holdings Co (VRT), cut from its top 50 Technipfmc PLC (FTI), cut from its top 50 Arista Networks Inc (ANET), Advanced Micro Devices Inc (AMD) (-31.1% shares), Ferrari N V (RACE) (-17.0% shares) and Kanzhun Limited (BZ) (-13.1% shares), compared with its Q1 2026 filing.

How has Thornburg Investment Management Inc's portfolio performed?

A portfolio copying Thornburg Investment Management Inc's 20 largest 13F holdings each quarter, from the day each filing was public, returned +22.9% a year over the last 3 years, against +20.4% for the S&P 500. Over 1 year: +15.5% against +20.1%. Over 5 years: +11.3% a year against +11.6%.

When is Thornburg Investment Management Inc's next 13F filing due?

13F filings are due 45 days after each quarter ends. Thornburg Investment Management Inc's filing for the quarter ending Sep 30, 2026 is due by Nov 14, 2026; this page updates the day after it is published.

How much money does Thornburg Investment Management Inc manage?

Thornburg Investment Management Inc reported $54.5B of regulatory assets under management on its latest SEC Form ADV. Its 13F, which covers only US-listed stocks and options, totals $10.4B.