Funds › Thornburg Investment Management Inc
Thornburg Investment Management Inc
13F for Q3 2026, filed Nov 13, 2026. 152 positions worth $10.5B.Managers with more than $100 million in US-listed stocks list their holdings each quarter, within 45 days of quarter end. Long positions only: no short sales or cash.
Latest report
Q3 2026
filed Nov 13, 2026
Reported value
$10.5B
+$86.1M (0.8%) vs Q2 2026
Positions
152
138 in Q2 2026
Top 10 share
59.3%
of reported value
CheckedEach line's price per share is checked against other managers' reports of the same stock. Unit mix-ups are corrected. Reports no fix can rescue are left out.
Clean
prices match other managers' reports
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Holdings, Q3 2026
Largest first. Common shares only; puts and calls are under All positions.
| # | The fund's own figures at the end of the quarter. A report can be up to 45 days old when it is filed. Options and bonds are not counted here. | Filing | ||||
|---|---|---|---|---|---|---|
| 1 | C Citigroup, Inc. | 7.60M | $983.6M | 9.3% | +0.7% | 13F ↗ |
| 2 | TTE TotalEnergies SE · Act | 11.45M | $982.3M | 9.3% | -3.2% | 13F ↗ |
| 3 | T AT&T Inc. | 36.80M | $897.9M | 8.5% | +2.2% | 13F ↗ |
| 4 | AVGO Broadcom Inc. | 1.90M | $668.8M | 6.3% | +4.1% | 13F ↗ |
| 5 | KMB Kimberly-Clark Corporation | 6.65M | $648.2M | 6.1% | +15.5% | 13F ↗ |
| 6 | MRK Merck & Company, Inc. | 3.80M | $552.0M | 5.2% | +0.3% | 13F ↗ |
| 7 | AZN AstraZeneca PLC | 2.99M | $486.9M | 4.6% | +3.4% | 13F ↗ |
| 8 | TSM Taiwan Semiconductor Manufacturing Company Ltd. | 941,195 | $429.4M | 4.1% | +23.1% | 13F ↗ |
| 9 | CME CME Group Inc. | 1.17M | $306.6M | 2.9% | +3.4% | 13F ↗ |
| 10 | CSCO Cisco Systems, Inc. | 2.72M | $292.3M | 2.8% | Unchanged | 13F ↗ |
| 11 | TRP TC Energy Corporation | 4.93M | $285.6M | 2.7% | +3.7% | 13F ↗ |
| 12 | EQH Equitable Holdings, Inc. | 5.14M | $263.6M | 2.5% | Unchanged | 13F ↗ |
| 13 | FCX Freeport-McMoRan, Inc. | 3.64M | $255.1M | 2.4% | +10.3% | 13F ↗ |
| 14 | MDT Medtronic plc. | 2.56M | $220.5M | 2.1% | +1.7% | 13F ↗ |
| 15 | ENB Enbridge Inc | 4.04M | $187.7M | 1.8% | +9.9% | 13F ↗ |
| 16 | RF Regions Financial Corporation | 6.89M | $185.3M | 1.8% | +2.2% | 13F ↗ |
| 17 | GOOGL Alphabet Inc. Class A | 521,303 | $179.4M | 1.7% | +6.8% | 13F ↗ |
| 18 | CP Canadian Pacific Kansas City Limited | 1.76M | $149.4M | 1.4% | -13.0% | 13F ↗ |
| 19 | ABBV AbbVie Inc. | 571,097 | $149.4M | 1.4% | +5.5% | 13F ↗ |
| 20 | HD Home Depot, Inc. | 464,043 | $132.0M | 1.3% | -0.2% | 13F ↗ |
| 21 | LIN Linde plc | 266,072 | $126.5M | 1.2% | -1.7% | 13F ↗ |
| 22 | SOBO South Bow Corporation | 3.72M | $123.3M | 1.2% | Unchanged | 13F ↗ |
| 23 | SCHW Charles Schwab Corporation | 1.20M | $117.1M | 1.1% | +2.3% | 13F ↗ |
| 24 | FER Ferrovial N.V. | 1.84M | $99.1M | 0.9% | +7.5% | 13F ↗ |
| 25 | META Meta Platforms, Inc. | 130,873 | $94.9M | 0.9% | +0.3% | 13F ↗ |
| 26 | LLY Eli Lilly and Company | 79,618 | $92.1M | 0.9% | -0.1% | 13F ↗ |
| 27 | BABA Alibaba Group Holding Limited · ADR | 648,919 | $69.8M | 0.7% | +5.1% | 13F ↗ |
| 28 | MA Mastercard Incorporated | 115,032 | $63.4M | 0.6% | -6.8% | 13F ↗ |
| 29 | ADBE Adobe Inc. | 243,677 | $58.5M | 0.6% | -9.7% | 13F ↗ |
| 30 | PFE Pfizer, Inc. | 1.97M | $56.2M | 0.5% | Unchanged | 13F ↗ |
| 31 | SLRC SLR Investment Corp. | 4.71M | $54.6M | 0.5% | Unchanged | 13F ↗ |
| 32 | CACI CACI International, Inc. | 86,051 | $52.4M | 0.5% | Unchanged | 13F ↗ |
| 33 | BKNG Booking Holdings Inc. | 316,027 | $51.5M | 0.5% | -0.1% | 13F ↗ |
| 34 | MELI MercadoLibre, Inc. | 28,731 | $49.7M | 0.5% | -2.4% | 13F ↗ |
| 35 | ALC Alcon Inc. | 755,347 | $48.9M | 0.5% | -53.7% | 13F ↗ |
| 36 | CIM Chimera Investment Corporation | 5.01M | $47.8M | 0.5% | -9.1% | 13F ↗ |
| 37 | AMD Advanced Micro Devices, Inc. | 77,360 | $47.3M | 0.4% | -8.4% | 13F ↗ |
| 38 | TJX TJX Companies, Inc. | 302,918 | $40.1M | 0.4% | -1.9% | 13F ↗ |
| 39 | COF Capital One Financial Corporation | 200,883 | $38.8M | 0.4% | +0.5% | 13F ↗ |
| 40 | MU Micron Technology, Inc. | 35,266 | $37.6M | 0.4% | +12.7% | 13F ↗ |
| 41 | NFLX Netflix, Inc. | 532,589 | $37.1M | 0.4% | -20.0% | 13F ↗ |
| 42 | LHX L3Harris Technologies, Inc. | 153,469 | $36.3M | 0.3% | +0.2% | 13F ↗ |
| 43 | SHOP Shopify Inc. | 234,904 | $34.8M | 0.3% | -4.7% | 13F ↗ |
| 44 | ASML ASML Holding N.V. · Equities | 17,908 | $32.4M | 0.3% | -4.5% | 13F ↗ |
| 45 | MUFG Mitsubishi UFJ Financial Group, Inc. · ADR | 1.34M | $30.8M | 0.3% | +8.7% | 13F ↗ |
| 46 | SE Sea Limited · ADR | 314,540 | $30.6M | 0.3% | -13.8% | 13F ↗ |
| 47 | RACE Ferrari N.V. | 76,208 | $29.9M | 0.3% | -4.4% | 13F ↗ |
| 48 | ING ING Groep N.V. | 819,719 | $29.1M | 0.3% | +8.0% | 13F ↗ |
| 49 | SAP Sap SE · ADR | 135,231 | $28.2M | 0.3% | +13.6% | 13F ↗ |
| 50 | AAPL Apple Inc. | 75,130 | $25.0M | 0.2% | -9.9% | 13F ↗ |
Showing the top 50 of 152 positions. Premium lists every position, plus puts and calls.
Changes since Q2 2026
23 new, 49 added to, 71 trimmed, 9 exited, 9 unchanged. By estimated dollars.
New positions (23)
| SKHY SK hynix Inc. · American Deposit | 101,562 | New | $18.7M |
| AMX America Movil, S.A.B. de C.V. | 533,563 | New | $11.3M |
| MRVL Marvell Technology, Inc. | 28,024 | New | $7.4M |
| INTU Intuit Inc. | 19,737 | New | $5.4M |
| iShares Tr Gbl Comm Svc Etf | 36,367 | New | $4.3M |
| PRCH Porch Group, Inc. | 240,227 | New | $4.0M |
| WDC Western Digital Corporation | 8,013 | New | $3.6M |
| Vaneck ETF Trust Semiconductr Etf | 5,928 | New | $3.6M |
| Vanguard World Fd Industrial Etf | 10,417 | New | $3.4M |
| Invesco Exch Traded Fd Tr II S&P Smlcp Indl | 20,514 | New | $3.3M |
Added to (49)
| KMB Kimberly-Clark Corporation | 6.65M | +15.5% | $86.9M |
| TSM Taiwan Semiconductor Manufacturing Company Ltd. | 941,195 | +23.1% | $80.4M |
| AVGO Broadcom Inc. | 1.90M | +4.1% | $26.1M |
| FCX Freeport-McMoRan, Inc. | 3.64M | +10.3% | $23.7M |
| T AT&T Inc. | 36.80M | +2.2% | $18.9M |
| ENB Enbridge Inc | 4.04M | +9.9% | $16.8M |
| AZN AstraZeneca PLC | 2.99M | +3.4% | $16.0M |
| GOOGL Alphabet Inc. Class A | 521,303 | +6.8% | $11.4M |
| TRP TC Energy Corporation | 4.93M | +3.7% | $10.1M |
| CME CME Group Inc. | 1.17M | +3.4% | $10.0M |
Trimmed (71)
| BZ Kanzhun Ltd · ADR | 215,805 | -96.0% | -$76.9M |
| ALC Alcon Inc. | 755,347 | -53.7% | -$56.8M |
| TTE TotalEnergies SE · Act | 11.45M | -3.2% | -$32.0M |
| CP Canadian Pacific Kansas City Limited | 1.76M | -13.0% | -$22.3M |
| MSFT Microsoft Corporation | 39,117 | -40.7% | -$13.8M |
| iShares Tr Msci Eafe Etf | 13,821 | -88.7% | -$11.3M |
| NFLX Netflix, Inc. | 532,589 | -20.0% | -$9.3M |
| SHEL Shell PLC · ADR | 145,091 | -36.4% | -$7.9M |
| iShares Tr Msci Acwi Ex Us | 75,665 | -53.6% | -$6.6M |
| ADBE Adobe Inc. | 243,677 | -9.7% | -$6.3M |
Exited (9)
| Marex Group plc | 275,027 | Exited | -$16.8M |
| CLBT Cellebrite DI Ltd. | 618,857 | Exited | -$9.0M |
| SARO StandardAero, Inc. | 175,259 | Exited | -$5.2M |
| TDG Transdigm Group Incorporated | 2,425 | Exited | -$3.2M |
| CDNS Cadence Design Systems, Inc. | 7,375 | Exited | -$2.8M |
| TMUS T-Mobile US, Inc. | 16,149 | Exited | -$2.7M |
| GWRE Guidewire Software, Inc. | 20,677 | Exited | -$2.5M |
| STLA Stellantis N.V. | 278,210 | Exited | -$1.6M |
| Vanguard International Equity Index F Allwrld Ex Us | 3,984 | Exited | -$333.7K |
The 10 largest of each, by estimated dollars: shares changed times the later report's price. Index tracking, splits and mergers move positions too.
All positions
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Reported value by quarter
Value and number of positions at the end of each quarter.
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Largest positions in earlier quarters
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Ten largest positions
By value, Q3 2026.
Filings
| Filing | ||||||
|---|---|---|---|---|---|---|
| Q3 2026 | Nov 13, 2026 | 13F-HR | 153 | $10.5B | Current | SEC ↗ |
| Q2 2026 | Aug 13, 2026 | 13F-HR | 139 | $10.5B | Current | SEC ↗ |
| Q1 2026 | May 12, 2026 | 13F-HR | 171 | $9.6B | Current | SEC ↗ |
| Q4 2025 | Feb 13, 2026 | 13F-HR | 176 | $7.9B | Current | SEC ↗ |
| Q3 2025 | Nov 12, 2025 | 13F-HR | 176 | $7.7B | Current | SEC ↗ |
| Q2 2025 | Aug 13, 2025 | 13F-HR | 177 | $7.8B | Current | SEC ↗ |
| Q1 2025 | May 8, 2025 | 13F-HR | 182 | $71.5B | Current | SEC ↗ |
Most recent first, up to 80. An amendment can replace a report or add holdings to it. All 13F filings
Information, not investment advice. Values are the fund's own figures at quarter end; a report can be up to 45 days old when filed. Disclaimer