2026 Q2 Portfolio Activity
In 2026 Q2, THORNBURG INVESTMENT MANAGEMENT INC maintained a portfolio of 179 distinct positions. The most significant new addition was KIMBERLY-CLARK CORP, now representing 6.05% of the total fund value. They heavily accumulated shares in TAIWAN SEMICONDUCTOR MANUFAC, increasing the position by 9.1%. The fund also reduced its exposure to LYONDELLBASELL INDUSTRIES NV by 91.5%.
Position History
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Total Positions
179
Quarter
2026 Q2
Top Holding
C (10.1%)
Top 10 Concentration
58.1%
Turnover Rate
23.4%
Sector HHI
0.18
Items per page:
Showing 1-50 of 179
THORNBURG INVESTMENT MANAGEMENT INC Full Holdings List — 2026 Q2
| Stock | History | Sector / Type | Port % | Prev % | Rank / Prev | Conviction | Change | % Change | Influence | Shares | Mkt Value | Avg Cost | Price Held | 1st Owned | Source | Source Date | Date Reported | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
|
C
CITIGROUP INC
|
Financial Services | 10.10% | 9.40% |
#1
1
Prev: #2
|
6.5 |
—
|
-441,524 | -5.5% |
P
S
|
7,546,686 | $1,056,234,173 | 2001 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TTFNF
TOTALENERGIES S...
|
Unknown | 8.79% | 11.31% |
#2
1
Prev: #1
|
5.5 |
—
|
167,222 | 1.4% |
P
S
|
11,828,205 | $919,021,994 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
T
AT&T INC
|
Communication Services | 7.13% | 9.34% |
#3
Prev: #3
|
5.9 |
—
|
4,978,069 | 16.0% |
P
S
|
36,023,313 | $745,682,579 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AVGO
BROADCOM INC
|
Technology | 6.61% | 6.69% |
#4
Prev: #4
|
3.6 |
—
|
-253,497 | -12.2% |
P
S
|
1,830,149 | $691,338,785 | 2015 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
KMB
KIMBERLY-CLARK ...
|
Consumer Defensive | 6.05% | — |
#5
Prev: #—
|
6.4 |
—
|
5,760,888 | — |
NEW
|
5,760,888 | $632,372,676 | 2001 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AZNCF
ASTRAZENECA PLC
|
Unknown | 5.17% | 5.77% |
#6
1
Prev: #5
|
2.6 |
—
|
32,775 | 1.1% |
P
S
|
2,891,426 | $540,611,974 | 2026 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MRK
MERCK & CO INC
|
Healthcare | 4.66% | 4.66% |
#7
1
Prev: #6
|
2.4 |
—
|
59,303 | 1.6% |
P
S
|
3,787,976 | $486,754,916 | 2002 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TSM
TAIWAN SEMICOND...
|
Technology | 3.49% | 2.46% |
#8
1
Prev: #9
|
3.4 |
—
|
63,515 | 9.1% |
P
S
|
764,867 | $365,277,533 | 2007 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CSCO
CISCO SYS INC
|
Technology | 3.05% | 2.35% |
#9
1
Prev: #10
|
1.7 |
—
|
-198,371 | -6.8% |
P
S
|
2,715,962 | $319,016,897 | 2004 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TRP
TC ENERGY CORP
|
Energy | 3.01% | 3.06% |
#10
2
Prev: #8
|
1.7 |
—
|
34,292 | 0.7% |
P
S
|
4,755,014 | $314,611,423 | 2023 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CME
CME GROUP INC
|
Financial Services | 2.39% | 3.51% |
#11
4
Prev: #7
|
1.5 |
—
|
-13,007 | -1.1% |
P
S
|
1,132,435 | $250,075,621 | 2007 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
EQH
EQUITABLE HLDGS...
|
Financial Services | 2.16% | 1.92% |
#12
Prev: #12
|
1.4 |
—
|
148,132 | 3.0% |
P
S
|
5,142,337 | $225,645,748 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
FCX
FREEPORT MCMORA...
|
Basic Materials | 1.99% | 1.73% |
#13
3
Prev: #16
|
2.8 |
—
|
468,594 | 16.5% |
P
S
|
3,304,828 | $207,840,633 | 2007 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
RF
REGIONS FINANCI...
|
Financial Services | 1.95% | 1.77% |
#14
1
Prev: #15
|
1.3 |
—
|
231,181 | 3.5% |
P
S
|
6,746,453 | $203,742,881 | 2020 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ENB
ENBRIDGE INC
|
Energy | 1.90% | 2.05% |
#15
4
Prev: #11
|
1.3 |
—
|
33,954 | 0.9% |
P
S
|
3,674,988 | $199,114,707 | 2022 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MDT
MEDTRONIC PLC
|
Healthcare | 1.88% | 1.81% |
#16
3
Prev: #13
|
3.3 |
—
|
494,653 | 24.5% |
P
S
|
2,511,730 | $196,492,638 | 2015 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CP
CANADIAN PACIFI...
|
Industrials | 1.67% | 1.66% |
#17
Prev: #17
|
1.2 |
—
|
-10,866 | -0.5% |
P
S
|
2,017,847 | $174,846,443 | 2015 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
GOOGL
ALPHABET INC
|
Communication Services | 1.67% | 1.27% |
#18
2
Prev: #20
|
2.7 |
—
|
63,109 | 14.9% |
P
S
|
488,051 | $174,414,786 | 2015 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
HD
HOME DEPOT INC
|
Consumer Cyclical | 1.57% | 1.78% |
#19
5
Prev: #14
|
1.1 |
—
|
-56,114 | -10.8% |
P
S
|
464,895 | $163,959,169 | 2014 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
LIN
LINDE PLC
|
Basic Materials | 1.35% | 1.41% |
#20
2
Prev: #18
|
1.0 |
—
|
-3,578 | -1.3% |
P
S
|
270,794 | $140,698,033 | 2004 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ABBV
ABBVIE INC
|
Healthcare | 1.30% | 1.14% |
#21
2
Prev: #23
|
2.5 |
—
|
38,314 | 7.6% |
P
S
|
541,146 | $136,173,980 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SOBO
SOUTH BOW CORP
|
Energy | 1.25% | 1.25% |
#22
1
Prev: #21
|
1.0 |
—
|
88,457 | 2.4% |
P
S
|
3,721,332 | $130,974,108 | 2025 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
FER
FERROVIAL NV
|
Industrials | 1.12% | 1.16% |
#23
1
Prev: #22
|
0.9 |
—
|
-26,644 | -1.5% |
P
S
|
1,712,697 | $117,347,173 | 2024 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ALC
ALCON AG
|
Healthcare | 1.05% | 1.33% |
#24
5
Prev: #19
|
0.9 |
—
|
-76,321 | -4.5% |
P
S
|
1,632,356 | $109,653,266 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SCHW
SCHWAB CHARLES ...
|
Financial Services | 1.03% | 0.79% |
#25
2
Prev: #27
|
2.9 |
—
|
360,891 | 44.6% |
P
S
|
1,170,451 | $107,997,514 | 2001 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
LLY
ELI LILLY & CO
|
Healthcare | 0.91% | 0.57% |
#26
6
Prev: #32
|
2.9 |
—
|
19,504 | 32.4% |
P
S
|
79,682 | $95,572,981 | 2007 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CIM
CHIMERA INVT CO...
|
Real Estate | 0.70% | 0.71% |
#27
2
Prev: #29
|
0.8 |
—
|
35,621 | 0.7% |
P
S
|
5,511,923 | $73,529,053 | 2024 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
META
META PLATFORMS ...
|
Communication Services | 0.70% | 0.75% |
#28
Prev: #28
|
0.8 |
—
|
4,250 | 3.4% |
P
S
|
130,466 | $73,490,193 | 2013 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BZ
KANZHUN LIMITED
|
Communication Services | 0.67% | 0.87% |
#29
5
Prev: #24
|
0.8 |
—
|
-819,117 | -13.1% |
P
S
|
5,413,729 | $69,674,692 | 2021 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MA
MASTERCARD INCO...
|
Financial Services | 0.61% | 0.51% |
#30
4
Prev: #34
|
2.7 |
—
|
25,533 | 26.1% |
P
S
|
123,446 | $63,401,866 | 2012 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BABA
ALIBABA GROUP H...
|
Consumer Cyclical | 0.57% | 0.79% |
#31
5
Prev: #26
|
0.7 |
—
|
7,537 | 1.2% |
P
S
|
617,721 | $59,288,862 | 2014 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SLRC
SLR INVESTMENT ...
|
Financial Services | 0.56% | 0.69% |
#32
2
Prev: #30
|
0.7 |
—
|
75,341 | 1.6% |
P
S
|
4,708,772 | $58,247,510 | 2010 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
BKNG
BOOKING HOLDING...
|
Consumer Cyclical | 0.54% | 0.49% |
#33
2
Prev: #35
|
3.2 |
—
|
305,012 | 2720.6% |
P
S
|
316,223 | $56,363,588 | 2018 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ADBE
ADOBE INC
|
Technology | 0.53% | 0.44% |
#34
4
Prev: #38
|
3.2 |
—
|
96,292 | 55.5% |
P
S
|
269,807 | $55,315,831 | 2010 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MELI
MERCADOLIBRE IN...
|
Consumer Cyclical | 0.48% | 0.56% |
#35
2
Prev: #33
|
0.7 |
—
|
-1,572 | -5.1% |
P
S
|
29,450 | $49,988,136 | 2010 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
AMD
ADVANCED MICRO ...
|
Technology | 0.47% | 0.26% |
#36
12
Prev: #48
|
0.2 |
—
|
-38,143 | -31.1% |
P
S
|
84,425 | $49,043,327 | 2001 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
NFLX
NETFLIX INC.
|
Communication Services | 0.45% | 0.13% |
#37
36
Prev: #73
|
3.2 |
—
|
539,563 | 428.3% |
P
S
|
665,548 | $47,520,127 | 2006 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
PFE
PFIZER INC
|
Healthcare | 0.45% | 0.65% |
#38
7
Prev: #31
|
0.7 |
—
|
-272,182 | -12.1% |
P
S
|
1,970,004 | $47,437,696 | 2001 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
TJX
TJX COS INC NEW
|
Consumer Cyclical | 0.45% | 0.44% |
#39
Prev: #39
|
2.2 |
—
|
45,213 | 17.1% |
P
S
|
308,876 | $46,794,714 | 2017 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
LHX
L3HARRIS TECHNO...
|
Industrials | 0.43% | 0.45% |
#40
3
Prev: #37
|
2.7 |
—
|
26,450 | 20.9% |
P
S
|
153,148 | $44,503,277 | 2020 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
COF
CAPITAL ONE FIN...
|
Financial Services | 0.38% | 0.26% |
#41
6
Prev: #47
|
2.7 |
—
|
60,173 | 43.1% |
P
S
|
199,843 | $40,092,503 | 2003 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
CACI
CACI INTL INC
|
Technology | 0.38% | 0.48% |
#42
6
Prev: #36
|
0.7 |
—
|
1,483 | 1.8% |
P
S
|
86,051 | $39,863,986 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
ASML
ASML HLDG NV
|
Technology | 0.36% | 0.27% |
#43
3
Prev: #46
|
0.6 |
—
|
-766 | -3.9% |
P
S
|
18,747 | $37,296,032 | 2012 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MU
MICRON TECHNOLO...
|
Technology | 0.35% | 0.09% |
#44
50
Prev: #94
|
2.6 |
—
|
6,668 | 27.1% |
P
S
|
31,289 | $36,116,580 | 2014 Q1 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SE
SEA LTD
|
Consumer Cyclical | 0.33% | 0.32% |
#45
2
Prev: #43
|
0.6 |
—
|
-4,850 | -1.3% |
P
S
|
365,023 | $34,980,154 | 2019 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MFIC
MIDCAP FINANCIA...
|
Financial Services | 0.31% | 0.38% |
#46
6
Prev: #40
|
1.1 |
—
|
no change | no change |
P
S
|
3,237,783 | $32,636,853 | 2018 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
RACE
FERRARI N V
|
Consumer Cyclical | 0.28% | 0.34% |
#47
5
Prev: #42
|
0.6 |
—
|
-16,297 | -17.0% |
P
S
|
79,745 | $29,688,266 | 2020 Q3 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
SHOP
SHOPIFY INC
|
Technology | 0.27% | 0.29% |
#48
3
Prev: #45
|
2.1 |
—
|
12,946 | 5.5% |
P
S
|
246,547 | $28,150,736 | 2020 Q4 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MSFT
MICROSOFT CORP
|
Technology | 0.24% | 0.11% |
#49
38
Prev: #87
|
3.1 |
—
|
38,419 | 139.6% |
P
S
|
65,940 | $24,596,939 | 2001 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 | |||
|
MUFG
MITSUBISHI UFJ ...
|
Financial Services | 0.23% | 0.19% |
#50
1
Prev: #51
|
2.1 |
—
|
152,176 | 14.1% |
P
S
|
1,229,407 | $24,456,599 | 2009 Q2 | 13F Filing | 2026-06-30 | 2026-08-13 |
Showing 1-50 of 179 holdings