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Thornburg Investment Management Portfolio holdings

AUM $10.5B
1-Year Est. Return 30.38%
This Fund
S&P 500
This Quarter Est. Return
+8.56%
1 Year Est. Return
+30.38%
3 Year Est. Return
+116.63%
5 Year Est. Return
+136.23%
10 Year Est. Return
+451.75%
AUM
$10.5B
AUM Growth
+$819M
Cap. Flow
+$466M
Cap. Flow %
4.46%
Top 10 Hldgs %
58.07%
Holding
178
New
8
Increased
71
Reduced
48
Closed
39

Top Buys

Rank Stock Value
1
KMB icon
Kimberly-Clark
KMB
+$571M
2
T icon
AT&T
T
+$124M
3
NFLX icon
Netflix
NFLX
+$47.5M
4
MDT icon
Medtronic
MDT
+$39.9M
5
SCHW
Charles Schwab
SCHW
+$32.9M

Top Sells

Rank Stock Value
1
AVGO icon
Broadcom
AVGO
+$102M
2
LYB icon
LyondellBasell Industries
LYB
+$61.7M
3
C icon
Citigroup
C
+$57.5M
4
TDG icon
TransDigm Group
TDG
+$33.4M
5
VRT icon
Vertiv
VRT
+$30.1M

Sector Composition

Rank Sector Weight
1 Financials 21.08%
2 Technology 17.54%
3 Healthcare 15.79%
4 Energy 15.22%
5 Communication Services 10.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
C icon
1
Citigroup
C
$223B
$1.06B 10.1%
7,546,686
-441,524
-6% -$57.5M
TTE icon
2
TotalEnergies
TTE
$191B
$919M 8.79%
11,828,205
+167,222
+1% +$14.8M
T icon
3
AT&T
T
$178B
$746M 7.13%
36,023,313
+4,978,069
+16% +$124M
AVGO icon
4
Broadcom
AVGO
$1.75T
$691M 6.61%
1,830,149
-253,497
-12% -$102M
KMB icon
5
Kimberly-Clark
KMB
$36.4B
$632M 6.05%
+5,760,888
New +$571M
AZN icon
6
AstraZeneca
AZN
$252B
$541M 5.17%
2,891,426
+32,775
+1% +$6.16M
MRK icon
7
Merck
MRK
$366B
$487M 4.66%
3,787,976
+59,303
+2% +$6.94M
TSM icon
8
TSMC
TSM
$2.17T
$365M 3.49%
764,867
+63,515
+9% +$25.8M
CSCO icon
9
Cisco
CSCO
$433B
$319M 3.05%
2,715,962
-198,371
-7% -$20.7M
TRP icon
10
TC Energy
TRP
$64.4B
$315M 3.01%
4,755,014
+34,292
+0.7% +$2.27M
CME icon
11
CME Group
CME
$103B
$250M 2.39%
1,132,435
-13,007
-1% -$3.6M
EQH icon
12
Equitable Holdings
EQH
$13.7B
$226M 2.16%
5,142,337
+148,132
+3% +$6.19M
FCX icon
13
Freeport-McMoran
FCX
$110B
$208M 1.99%
3,304,828
+468,594
+17% +$30.1M
RF icon
14
Regions Financial
RF
$25.8B
$204M 1.95%
6,746,453
+231,181
+4% +$6.49M
ENB icon
15
Enbridge
ENB
$110B
$199M 1.9%
3,674,988
+33,954
+0.9% +$1.86M
MDT icon
16
Medtronic
MDT
$117B
$196M 1.88%
2,511,730
+494,653
+25% +$39.9M
CP icon
17
Canadian Pacific Kansas City
CP
$82.7B
$175M 1.67%
2,017,847
-10,866
-0.5% -$931K
GOOGL icon
18
Alphabet (Google) Class A
GOOGL
$4.24T
$174M 1.67%
488,051
+63,109
+15% +$22.7M
HD icon
19
Home Depot
HD
$329B
$164M 1.57%
464,895
-56,114
-11% -$18.3M
LIN icon
20
Linde
LIN
$226B
$141M 1.35%
270,794
-3,578
-1% -$1.81M
ABBV icon
21
AbbVie
ABBV
$451B
$136M 1.3%
541,146
+38,314
+8% +$8.24M
SOBO
22
South Bow Corp
SOBO
$7.81B
$131M 1.25%
3,721,332
+88,457
+2% +$3.11M
FER icon
23
Ferrovial N.V. Ordinary Shares
FER
$42.3B
$117M 1.12%
1,712,697
-43,436
-2% -$2.97M
ALC icon
24
Alcon
ALC
$34.8B
$110M 1.05%
1,632,356
-76,321
-4% -$5.35M
SCHW
25
Charles Schwab
SCHW
$191B
$108M 1.03%
1,170,451
+360,891
+45% +$32.9M
1
2 3 4 5

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Thornburg Investment Management's Q2 2026 Portfolio in Review

As of Q2 2026, Thornburg Investment Management held 178 positions worth $10.5B, up 8.5% from $9.63B the previous quarter. Its ten largest holdings account for 58% of the portfolio.

Thornburg Investment Management deployed $466M of net new capital in Q2 2026, opening 8 new positions and adding to 71 existing holdings. Its largest new stake was Kimberly-Clark: 5,760,888 shares worth $632M.

By sector, the portfolio is most concentrated in Financials at 21% of assets, up from 21% a quarter earlier, followed by Technology and Healthcare.

On the sell side, the largest reduction was Broadcom, an estimated $102M trimmed.

  • Thornburg Investment Management's largest Q2 2026 buy was Kimberly-Clark: 5,760,888 shares worth $632M.
  • Thornburg Investment Management added most to AT&T in Q2 2026, an estimated $124M increase.
  • Thornburg Investment Management's biggest Q2 2026 reduction was Broadcom, cutting an estimated $102M.
  • Thornburg Investment Management fully exited Vanguard Morningstar Small-Cap ETF in Q2 2026, selling an estimated $16.9M.
  • Thornburg Investment Management's ten largest holdings make up 58% of its $10.5B portfolio in Q2 2026.
  • Thornburg Investment Management opened 8 new positions and closed 39 in Q2 2026.
  • Thornburg Investment Management's portfolio value rose 8.5% quarter-over-quarter to $10.5B.

Based on Thornburg Investment Management's 13F filing for Q2 2026, filed 13 Aug 2026.