THORNBURG INVESTMENT MANAGEMENT INC

Q4 2025 13F-HR Detailed Holdings

Location
Santa Fe, NM
Holdings as of
12/31/2025
Date filed
2/13/2026
Form type
13F-HR
Num holdings
176
Total value ($000)
$7,925,044
Net value change ($000)
+259,254 (3.4%)
New positions
10
Sold out positions
10
Turnover %
2.6%
Sector allocation + QoQ delta (equities-only)

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

Prev filing: 11/12/2025 Next filing: — 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 Q3 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 121,326 14.9%
MRK 96,993 32.8%
FCX 69,201 95.1%
LLY 48,795 NEW
RF 46,894 38.5%
CSCO 42,296 23.7%
BZ 34,692 38.6%
ALC 31,125 29.1%
SOBO 21,336 37.8%
PFE 17,914 48.5%
Top Reduces (Value $000, Stocks/ETFs)
T -76,440 -9.6%
NVO -30,208 -100.0%
HD -30,048 -14.4%
JPM -28,756 -97.9%
ELME -26,967 -100.0%
META -19,875 -18.8%
CP -16,123 -9.4%
LIN -15,101 -11.5%
AVGO -15,023 -2.1%
EQH -14,183 -5.7%
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