THORNBURG INVESTMENT MANAGEMENT INC

Q3 2025 13F-HR Detailed Holdings

Location
Santa Fe, NM
Holdings as of
9/30/2025
Date filed
11/12/2025
Form type
13F-HR
Num holdings
176
Total value ($000)
$7,665,790
Net value change ($000)
-108,792 (-1.4%)
New positions
10
Sold out positions
11
Turnover %
2.5%
Sector allocation + QoQ delta (equities-only)

Holdings broken out by other managers reported in the original SEC filing. View aggregated holdings

Prev filing: 8/13/2025 Next filing: 2/13/2026 SEC filing
You are on the SEC detailed breakdown page. Rows are shown as reported in the filing (including other manager, discretion, and voting authority fields), and are not merged like the standard holdings view. Switch to aggregated holdings.

Snapshot: Change Analysis

Compared to Q2 2025
Methodology: sector metrics are equities-only; instrument mix chart is ex-options; options exposure is shown separately. Why this matters.
Top Adds (Value $000, Stocks/ETFs)
C 127,649 18.6%
TDG 62,785 NEW
BABA 43,998 80.1%
ABBV 33,601 56.5%
GOOGL 31,072 33.1%
TRP 30,312 16.1%
TSM 25,096 15.6%
HD 21,036 11.2%
ADBE 20,579 NEW
ENB 18,143 11.1%
Top Reduces (Value $000, Stocks/ETFs)
PFE -216,589 -85.4%
PBR -92,111 -95.5%
MRK -78,911 -21.1%
LYB -63,613 -55.8%
FCX -53,654 -42.4%
ALC -35,797 -25.1%
NVO -26,573 -46.8%
EQH -25,202 -9.3%
STEVANATO GROUP S P A -18,133 -100.0%
BLDR -14,006 -44.2%
Instrument mix + QoQ Δ (ex-options)
How this table is calculated: SEC VALUE ($000) is used as reported. For derivatives (PUT/CALL/WARRANT/RIGHT), SEC value represents reported underlying exposure, not premium cash paid/received. Column % is bucket-based: non-options share is calculated inside non-option total, options share is calculated inside options total. Details.
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Instrument:
Issuer Name Ticker Sector Industry Class History Value ($000) % Shares Shares Δ Shares Δ% Value Δ ($000) Value Δ% Principal Option Type Discretion Other Manager Sole Shared None