Q2 2025 · 13F-HR
THORNBURG INVESTMENT MANAGEMENT INCholdings as filed
Filed 2025-08-13 · accession 0001140361-25-030647
$7.77B
Reported value
177
Positions
2025-06-30
Period end
The Brief · THORNBURG INVESTMENT MANAGEMENT INC · Q2 2025
AI · grounded in 13F
Thornburg Investment Management Inc established a new position in T valued at $795.3M. The fund also initiated new stakes in AVGO for $729.2M and C for $686.6M. Other new additions include MRK at $374.4M and CME at $284.3M. Total assets under management stand at $7.77B across 177 positions.
Holdings as filed
| CUSIP | Ticker | Issuer | Value | % port. | Shares | Class | Voting |
|---|---|---|---|---|---|---|---|
| 00206R102 | T | AT&T INC | $795.3M | 10.2% | 27,481,441 | Common | SOLE |
| 11135F101 | AVGO | BROADCOM INC | $729.2M | 9.38% | 2,645,365 | Common | SOLE |
| 172967424 | C | CITIGROUP INC | $686.6M | 8.83% | 8,066,349 | Common | SOLE |
| 58933Y105 | MRK | MERCK & CO INC | $374.4M | 4.82% | 4,729,641 | Common | SOLE |
| 12572Q105 | CME | CME GROUP INC | $284.3M | 3.66% | 1,031,324 | Common | SOLE |
| 29452E101 | EQH | EQUITABLE HLDGS INC | $272.4M | 3.50% | 4,855,273 | Common | SOLE |
| 717081103 | PFE | PFIZER INC | $253.5M | 3.26% | 10,458,571 | Common | SOLE |
| 87807B107 | TRP | TC ENERGY CORP | $188.6M | 2.43% | 3,860,519 | Common | SOLE |
| 437076102 | HD | HOME DEPOT INC | $187.9M | 2.42% | 512,523 | Common | SOLE |
| 17275R102 | CSCO | CISCO SYS INC | $169.9M | 2.18% | 2,448,169 | Common | SOLE |
| G5960L103 | MDT | MEDTRONIC PLC | $167.6M | 2.16% | 1,922,810 | Common | SOLE |
| 29250N105 | ENB | ENBRIDGE INC | $162.8M | 2.09% | 3,587,620 | Common | SOLE |
| 13646K108 | CP | CANADIAN PACIFIC KANSAS CITY | $162.1M | 2.08% | 2,044,755 | Common | SOLE |
| 874039100 | TSM | TAIWAN SEMICONDUCTOR MFG LTD | $160.5M | 2.06% | 708,696 | Common | SOLE |
| H01301128 | ALC | ALCON AG | $142.8M | 1.84% | 1,615,994 | Common | SOLE |
| 35671D857 | FCX | FREEPORT-MCMORAN INC | $126.4M | 1.63% | 2,915,823 | Common | SOLE |
| G54950103 | LIN | LINDE PLC | $121.9M | 1.57% | 259,501 | Common | SOLE |
| N53745100 | LYB | LYONDELLBASELL INDUSTRIES N | $114.1M | 1.47% | 1,971,413 | Common | SOLE |
| 30303M102 | META | META PLATFORMS INC | $113.9M | 1.47% | 154,368 | Common | SOLE |
| 7591EP100 | RF | REGIONS FINANCIAL CORP NEW | $108.1M | 1.39% | 4,596,096 | Common | SOLE |
| 71654V408 | PBR | PETROLEO BRASILEIRO SA PETRO | $96.5M | 1.24% | 7,713,498 | Common | SOLE |
| 02079K305 | GOOGL | ALPHABET INC | $93.7M | 1.21% | 531,936 | Common | SOLE |
| N3168P101 | FER | FERROVIAL SE | $91.6M | 1.18% | 1,716,499 | Common | SOLE |
| 48553T106 | BZ | KANZHUN LIMITED | $83.2M | 1.07% | 4,664,157 | Common | SOLE |
| 58733R102 | MELI | MERCADOLIBRE INC | $80.3M | 1.03% | 30,712 | Common | SOLE |
| 808513105 | SCHW | SCHWAB CHARLES CORP | $74.3M | 0.96% | 813,874 | Common | SOLE |
| 83413U100 | SLRC | SLR INVESTMENT CORP | $70.6M | 0.91% | 4,372,550 | Common | SOLE |
| 16934Q802 | CIM | CHIMERA INVT CORP | $68.6M | 0.88% | 4,948,735 | Common | SOLE |
| 57636Q104 | MA | MASTERCARD INCORPORATED | $61.0M | 0.78% | 108,572 | Common | SOLE |
| 00287Y109 | ABBV | ABBVIE INC | $59.4M | 0.76% | 320,135 | Common | SOLE |
| 670100205 | NVO | NOVO-NORDISK A S | $56.8M | 0.73% | 822,677 | Common | SOLE |
| 01609W102 | BABA | ALIBABA GROUP HLDG LTD | $54.9M | 0.71% | 484,152 | Common | SOLE |
| 81141R100 | SE | SEA LTD | $50.8M | 0.65% | 317,895 | Common | SOLE |
| 83671M105 | SOBO | SOUTH BOW CORP | $43.0M | 0.55% | 1,656,020 | Common | SOLE |
| 127190304 | CACI | CACI INTL INC | $40.7M | 0.52% | 85,403 | Common | SOLE |
| 14040H105 | COF | CAPITAL ONE FINL CORP | $40.3M | 0.52% | 189,290 | Common | SOLE |
| N3167Y103 | RACE | FERRARI N V | $39.8M | 0.51% | 81,083 | Common | SOLE |
| 872540109 | TJX | TJX COS INC NEW | $39.4M | 0.51% | 319,080 | Common | SOLE |
| 046353108 | AZNN | ASTRAZENECA PLC | $37.4M | 0.48% | 535,650 | Common | SOLE |
| 03761U502 | MFIC | MIDCAP FINANCIAL INVSTMNT CO | $37.1M | 0.48% | 2,937,783 | Common | SOLE |
| G5S37H101 | MRX | MAREX GROUP PLC | $32.5M | 0.42% | 822,730 | Common | SOLE |
| 502431109 | LHX | L3HARRIS TECHNOLOGIES INC | $32.0M | 0.41% | 127,375 | Common | SOLE |
| 939653101 | ELME | ELME COMMUNITIES | $31.9M | 0.41% | 2,005,668 | Common | SOLE |
| 12008R107 | BLDR | BUILDERS FIRSTSOURCE INC | $31.7M | 0.41% | 271,574 | Common | SOLE |
| 09857L108 | BKNG | BOOKING HOLDINGS INC | $31.1M | 0.40% | 5,369 | Common | SOLE |
| 147448104 | CWST | CASELLA WASTE SYS INC | $29.5M | 0.38% | 255,510 | Common | SOLE |
| 46625H100 | JPM | JPMORGAN CHASE & CO. | $27.1M | 0.35% | 93,487 | Common | SOLE |
| 92537N108 | VRT | VERTIV HOLDINGS CO | $22.6M | 0.29% | 176,005 | Common | SOLE |
| G3643J108 | FLUT | FLUTTER ENTMT PLC | $21.3M | 0.27% | 74,654 | Common | SOLE |
| 00847J105 | AGYS | AGILYSYS INC | $21.3M | 0.27% | 185,913 | Common | SOLE |
| 82509L107 | SHOP | SHOPIFY INC | $19.9M | 0.26% | 172,686 | Common | SOLE |
| G6683N103 | NU | NU HLDGS LTD | $18.9M | 0.24% | 1,376,676 | Common | SOLE |
| G8068L108 | SN | SHARKNINJA INC | $18.9M | 0.24% | 190,491 | Common | SOLE |
| N07059210 | ASML | ASML HOLDING N V | $18.6M | 0.24% | 23,165 | Common | SOLE |
| 89400J107 | TRU | TRANSUNION | $18.3M | 0.23% | 207,490 | Common | SOLE |
| 03820C105 | AIT | APPLIED INDL TECHNOLOGIES IN | $18.2M | 0.23% | 78,401 | Common | SOLE |
| G87110105 | FTI | TECHNIPFMC PLC | $18.2M | 0.23% | 528,609 | Common | SOLE |
| T9224W109 | STVN | STEVANATO GROUP S P A | $18.1M | 0.23% | 742,245 | Common | SOLE |
| 55405W104 | MYRG | MYR GROUP INC DEL | $17.7M | 0.23% | 97,553 | Common | SOLE |
| 835699307 | SONY | SONY GROUP CORP | $17.3M | 0.22% | 662,836 | Common | SOLE |
| 200300507 | CMCSA | COMCAST HOLDINGS CORP | $16.9M | 0.22% | 284,060 | Common | SOLE |
| 007903107 | AMD | ADVANCED MICRO DEVICES INC | $16.6M | 0.21% | 116,808 | Common | SOLE |
| 50212V100 | LPLA | LPL FINL HLDGS INC | $15.8M | 0.20% | 42,006 | Common | SOLE |
| 184496107 | CLH | CLEAN HARBORS INC | $15.0M | 0.19% | 65,029 | Common | SOLE |
| 040413205 | ANET | ARISTA NETWORKS INC | $14.9M | 0.19% | 145,485 | Common | SOLE |
| 72346Q104 | — | PINNACLE FINL PARTNERS INC | $14.8M | 0.19% | 134,451 | Common | SOLE |
| 606822104 | MUFG | MITSUBISHI UFJ FINL GROUP IN | $14.8M | 0.19% | 1,081,116 | Common | SOLE |
| 69349H107 | TXNM | TXNM ENERGY INC | $14.5M | 0.19% | 258,062 | Common | SOLE |
| 81725T100 | SXT | SENSIENT TECHNOLOGIES CORP | $14.2M | 0.18% | 144,286 | Common | SOLE |
| 12510Q100 | CCC | CCC INTELLIGENT SOLUTIONS HL | $14.2M | 0.18% | 1,506,524 | Common | SOLE |
| 89151E109 | TTEN | TOTALENERGIES SE | $14.1M | 0.18% | 229,514 | Common | SOLE |
| 74624M102 | P | PURE STORAGE INC | $14.0M | 0.18% | 243,607 | Common | SOLE |
| 67059N108 | NTNX | NUTANIX INC | $13.7M | 0.18% | 178,979 | Common | SOLE |
| 00737L103 | CVSA | ADTALEM GLOBAL ED INC | $13.3M | 0.17% | 104,615 | Common | SOLE |
| 05550J101 | BJ | BJS WHSL CLUB HLDGS INC | $13.3M | 0.17% | 123,176 | Common | SOLE |
| G2519Y108 | BAP | CREDICORP LTD | $12.8M | 0.17% | 57,488 | Common | SOLE |
| 19247G107 | COHR | COHERENT CORP | $12.8M | 0.17% | 143,902 | Common | SOLE |
| 87422Q109 | TLN | TALEN ENERGY CORP | $12.8M | 0.17% | 44,139 | Common | SOLE |
| 98311A105 | WH | WYNDHAM HOTELS & RESORTS INC | $12.6M | 0.16% | 155,238 | Common | SOLE |
| 45073V108 | ITT | ITT INC | $12.4M | 0.16% | 78,892 | Common | SOLE |
| 957638109 | WAL | WESTERN ALLIANCE BANCORP | $12.0M | 0.15% | 154,520 | Common | SOLE |
| 039653100 | ACA | ARCOSA INC | $11.9M | 0.15% | 137,445 | Common | SOLE |
| 456837103 | ING | ING GROEP N.V. | $11.7M | 0.15% | 534,851 | Common | SOLE |
| 88033G407 | THC | TENET HEALTHCARE CORP | $11.7M | 0.15% | 66,426 | Common | SOLE |
| G0896C103 | TBBB | BBB FOODS INC | $11.6M | 0.15% | 417,463 | Common | SOLE |
| 488401100 | KMPR | KEMPER CORP | $11.3M | 0.15% | 175,524 | Common | SOLE |
| 55405Y100 | MTSI | MACOM TECH SOLUTIONS HLDGS I | $11.2M | 0.14% | 77,897 | Common | SOLE |
| 983793100 | XPO | XPO INC | $11.1M | 0.14% | 88,036 | Common | SOLE |
| 23345M107 | DTM | DT MIDSTREAM INC | $11.1M | 0.14% | 100,684 | Common | SOLE |
| 398905109 | GPI | GROUP 1 AUTOMOTIVE INC | $11.0M | 0.14% | 25,187 | Common | SOLE |
| 04621X108 | AIZ | ASSURANT INC | $10.9M | 0.14% | 54,994 | Common | SOLE |
| G4705A100 | ICLR | ICON PLC | $10.9M | 0.14% | 74,636 | Common | SOLE |
| 8676EP108 | STKL | SUNOPTA INC | $10.8M | 0.14% | 1,858,287 | Common | SOLE |
| 00912X302 | AL | AIR LEASE CORP | $10.7M | 0.14% | 183,352 | Common | SOLE |
| M2682V108 | CYBR | CYBERARK SOFTWARE LTD | $8.9M | 0.11% | 21,961 | Common | SOLE |
| 69343T107 | PJT | PJT PARTNERS INC | $8.8M | 0.11% | 53,597 | Common | SOLE |
| L44385109 | GLOB | GLOBANT S A | $8.4M | 0.11% | 92,802 | Common | SOLE |
| 93148P102 | WD | WALKER & DUNLOP INC | $8.4M | 0.11% | 118,734 | Common | SOLE |
| 49803T300 | KRG | KITE RLTY GROUP TR | $8.3M | 0.11% | 365,178 | Common | SOLE |
| 82900L102 | SMPL | SIMPLY GOOD FOODS CO | $8.2M | 0.11% | 260,763 | Common | SOLE |
| 595112103 | MU | MICRON TECHNOLOGY INC | $8.0M | 0.10% | 64,639 | Common | SOLE |
| 89677Q107 | TCOM | TRIP COM GROUP LTD | $7.8M | 0.10% | 133,239 | Common | SOLE |
| 45104G104 | IBN | ICICI BANK LIMITED | $7.7M | 0.10% | 229,975 | Common | SOLE |
| G25457105 | CRDO | CREDO TECHNOLOGY GROUP HOLDI | $7.6M | 0.10% | 82,334 | Common | SOLE |
| 803054204 | SAP | SAP SE | $7.5M | 0.10% | 24,760 | Common | SOLE |
| 780259305 | SHEL | SHELL PLC | $7.5M | 0.10% | 106,230 | Common | SOLE |
| 94106B101 | WCN | WASTE CONNECTIONS INC | $7.2M | 0.09% | 38,795 | Common | SOLE |
| M7S64H106 | MNDY | MONDAY COM LTD | $6.9M | 0.09% | 21,890 | Common | SOLE |
| 594918104 | MSFT | MICROSOFT CORP | $6.8M | 0.09% | 13,609 | Common | SOLE |
| 85423L103 | SARO | STANDARDAERO INC | $6.7M | 0.09% | 211,789 | Common | SOLE |
| 04010E109 | AGX | ARGAN INC | $6.7M | 0.09% | 30,255 | Common | SOLE |
| 05352A100 | AVTR | AVANTOR INC | $6.2M | 0.08% | 461,322 | Common | SOLE |
| H5919C104 | ONON | ON HLDG AG | $6.2M | 0.08% | 118,665 | Common | SOLE |
| 81762P102 | NOW | SERVICENOW INC | $6.1M | 0.08% | 5,967 | Common | SOLE |
| 22160K105 | COST | COSTCO WHSL CORP NEW | $6.1M | 0.08% | 6,152 | Common | SOLE |
| 531229755 | FWONK | LIBERTY MEDIA CORP DEL | $6.1M | 0.08% | 57,924 | Common | SOLE |
| 82452J109 | FOUR | SHIFT4 PMTS INC | $6.0M | 0.08% | 60,103 | Common | SOLE |
| 78351F107 | RYAN | RYAN SPECIALTY HOLDINGS INC | $5.9M | 0.08% | 87,201 | Common | SOLE |
| 243537107 | DECK | DECKERS OUTDOOR CORP | $5.9M | 0.08% | 56,971 | Common | SOLE |
| M6191J100 | FROG | JFROG LTD | $5.6M | 0.07% | 127,619 | Common | SOLE |
| 576485205 | MTDR | MATADOR RES CO | $5.6M | 0.07% | 116,952 | Common | SOLE |
| 750917106 | RMBS | RAMBUS INC DEL | $5.6M | 0.07% | 86,748 | Common | SOLE |
| 76029L100 | RPAY | REPAY HLDGS CORP | $5.5M | 0.07% | 1,131,947 | Common | SOLE |
| 759916109 | RGEN | REPLIGEN CORP | $5.4M | 0.07% | 43,408 | Common | SOLE |
| 457669307 | INSM | INSMED INC | $5.4M | 0.07% | 53,248 | Common | SOLE |
| 29362U104 | ENTG | ENTEGRIS INC | $5.3M | 0.07% | 65,921 | Common | SOLE |
| 683715106 | OTEX | OPEN TEXT CORP | $5.2M | 0.07% | 179,337 | Common | SOLE |
| 377322102 | GKOS | GLAUKOS CORP | $5.2M | 0.07% | 50,430 | Common | SOLE |
| 45784P101 | PODD | INSULET CORP | $4.7M | 0.06% | 15,049 | Common | SOLE |
| 15118V207 | CELH | CELSIUS HLDGS INC | $4.6M | 0.06% | 99,131 | Common | SOLE |
| 358039105 | FRPT | FRESHPET INC | $4.5M | 0.06% | 66,461 | Common | SOLE |
| 171484108 | CHDN | CHURCHILL DOWNS INC | $4.5M | 0.06% | 44,508 | Common | SOLE |
| 83207R107 | SDHC | SMITH DOUGLAS HOMES CORP | $4.4M | 0.06% | 224,457 | Common | SOLE |
| 892672106 | TW | TRADEWEB MKTS INC | $4.3M | 0.06% | 29,447 | Common | SOLE |
| 09061G101 | BMRN | BIOMARIN PHARMACEUTICAL INC | $4.3M | 0.06% | 78,010 | Common | SOLE |
| 228903100 | AORT | ARTIVION INC | $4.1M | 0.05% | 132,672 | Common | SOLE |
| 185123106 | CWAN | CLEARWATER ANALYTICS HLDGS I | $4.1M | 0.05% | 186,874 | Common | SOLE |
| 25243Q205 | DEO | DIAGEO PLC | $4.1M | 0.05% | 40,374 | Common | SOLE |
| 85914M107 | STEP | STEPSTONE GROUP INC | $4.1M | 0.05% | 73,141 | Common | SOLE |
| 464287465 | EFA | ISHARES TR | $3.6M | 0.05% | 40,774 | Common | SOLE |
| 82982T106 | SITM | SITIME CORP | $3.4M | 0.04% | 16,000 | Common | SOLE |
| 79589L106 | IOT | SAMSARA INC | $3.1M | 0.04% | 77,406 | Common | SOLE |
| N82405106 | STLA | STELLANTIS N.V | $3.0M | 0.04% | 303,335 | Common | SOLE |
| 78709Y105 | SAIA | SAIA INC | $2.9M | 0.04% | 10,655 | Common | SOLE |
| 464288240 | ACWX | ISHARES TR | $2.9M | 0.04% | 47,631 | Common | SOLE |
| 457730109 | INSP | INSPIRE MED SYS INC | $2.7M | 0.03% | 20,928 | Common | SOLE |
| G0260P102 | AS | AMER SPORTS INC | $2.6M | 0.03% | 66,478 | Common | SOLE |
| 023135106 | AMZN | AMAZON COM INC | $2.4M | 0.03% | 11,146 | Common | SOLE |
| 23282W605 | CYTK | CYTOKINETICS INC | $2.4M | 0.03% | 72,879 | Common | SOLE |
| 67066G104 | NVDA | NVIDIA CORPORATION | $2.3M | 0.03% | 14,427 | Common | SOLE |
| 26701L100 | BROS | DUTCH BROS INC | $2.2M | 0.03% | 31,864 | Common | SOLE |
| 110122108 | BMY | BRISTOL-MYERS SQUIBB CO | $1.8M | 0.02% | 38,400 | Common | SOLE |
| 92826C839 | V | VISA INC | $1.5M | 0.02% | 4,224 | Common | SOLE |
| 009066AB7 | ABNB 0 03/15/26 | AIRBNB INC | $1.3M | 0.02% | 1,350,000 | Common | SOLE |
| 806857108 | SLB | SCHLUMBERGER LTD | $1.2M | 0.01% | 34,100 | Common | SOLE |
| 88031M109 | TS | TENARIS S A | $936,159 | 0.01% | 25,031 | Common | SOLE |
| 98978V103 | ZTS | ZOETIS INC | $907,005 | 0.01% | 5,816 | Common | SOLE |
| 53115L104 | LBRT | LIBERTY ENERGY INC | $882,227 | 0.01% | 76,849 | Common | SOLE |
| 74762E102 | QURE | QUANTA SVCS INC | $685,459 | 0.01% | 1,813 | Common | SOLE |
| 40415F101 | HDB | HDFC BANK LTD | $651,158 | 0.01% | 8,493 | Common | SOLE |
| 037833100 | AAPL | APPLE INC | $636,643 | 0.01% | 3,103 | Common | SOLE |
| 66987V109 | NVS | NOVARTIS AG | $591,618 | 0.01% | 4,889 | Common | SOLE |
| 400506101 | PAC | GRUPO AEROPUERTO DEL PACIFIC | $541,903 | 0.01% | 2,360 | Common | SOLE |
| 456788108 | INFY | INFOSYS LTD | $533,312 | 0.01% | 28,781 | Common | SOLE |
| 191241108 | KOF | COCA-COLA FEMSA SAB DE CV | $517,506 | 0.01% | 5,350 | Common | SOLE |
| 22266T109 | CPNG | COUPANG INC | $492,842 | 0.01% | 16,450 | Common | SOLE |
| 48241A105 | KB | KB FINL GROUP INC | $466,634 | 0.01% | 5,650 | Common | SOLE |
| 256135203 | RDY | DR REDDYS LABS LTD | $431,391 | 0.01% | 28,702 | Common | SOLE |
| 921909768 | VXUS | VANGUARD STAR FDS | $401,067 | 0.01% | 5,805 | Common | SOLE |
| G4124C109 | GRAB | GRAB HOLDINGS LIMITED | $379,695 | 0.00% | 75,486 | Common | SOLE |
| 465562106 | ITUB | ITAU UNIBANCO HLDG S A | $328,201 | 0.00% | 48,336 | Common | SOLE |
| 73278L105 | POOL | POOL CORP | $280,695 | 0.00% | 963 | Common | SOLE |
| 747525103 | QCOM | QUALCOMM INC | $264,212 | 0.00% | 1,659 | Common | SOLE |
| 25278X109 | FANG | DIAMONDBACK ENERGY INC | $263,671 | 0.00% | 1,919 | Common | SOLE |
| 922042775 | VEU | VANGUARD INTL EQUITY INDEX F | $247,101 | 0.00% | 3,676 | Common | SOLE |
| 00215W100 | ASX | ASE TECHNOLOGY HLDG CO LTD | $238,664 | 0.00% | 23,104 | Common | SOLE |
| 92857W308 | VOD | VODAFONE GROUP PLC NEW | $182,968 | 0.00% | 17,164 | Common | SOLE |
Source: SEC EDGAR · raw 13F holdings as filed. The Class column shows the option type when reported (Put/Call) or Common when the issuer's equity is held directly. 13F discloses long positions only.