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THORNBURG INVESTMENT MANAGEMENT INC

Q1 2026 · Filed 2026-05-12
Market Value
$9.2B
+23.3%
Holdings
188
+12
New Purchases
22
Added To
64
Closed
25
Reduced
66
Top 10 Concentration
61.3%
Turnover
25.0%

Top Buys (by % of Portfolio)

SymbolCur %Prior %Chg %Value
TOTB.DE 11.84% 0.00% +11.84% $1.1B
AZN 6.04% 0.00% +6.04% $556M
LYB 0.86% 0.57% +0.29% $79M
TRP 3.21% 2.98% +0.22% $295M
BKNG 0.51% 0.30% +0.21% $47M
VB 0.18% 0.00% +0.18% $17M
NFLX 0.13% 0.00% +0.13% $12M
CIGI 0.14% 0.01% +0.13% $13M
SAP 0.19% 0.06% +0.13% $17M
T 9.78% 9.67% +0.11% $900M
EFA 0.14% 0.09% +0.05% $12M
AGX 0.15% 0.10% +0.04% $14M
SPGI 0.03% 0.00% +0.03% $2M
PBR 0.08% 0.05% +0.02% $7M
VRT 0.31% 0.29% +0.02% $29M

Top Sells (by % of Portfolio)

SymbolCur %Prior %Chg %Value
C 9.84% 12.53% -2.69% $906M
AVGO 7.01% 9.54% -2.53% $645M
EQH 2.01% 3.12% -1.11% $185M
BZ 0.91% 1.67% -0.76% $83M
MDT 1.90% 2.48% -0.58% $175M
HD 1.86% 2.40% -0.53% $171M
CME 3.68% 4.19% -0.52% $338M
CSCO 2.46% 2.96% -0.50% $226M
TDG 0.37% 0.85% -0.48% $34M
ALC 1.40% 1.85% -0.45% $128M
GOOGL 1.33% 1.77% -0.44% $122M
RF 1.85% 2.26% -0.41% $170M
MRK 4.87% 5.26% -0.38% $449M
META 0.78% 1.15% -0.36% $72M
COF 0.28% 0.59% -0.32% $25M

Sector Allocation Over Time

Market Cap Concentration

TierHoldingsValueWeight
Mega Cap 30 $3.9B 42.9%
Large Cap 100 $4.8B 51.8%
Mid Cap 49 $311M 3.4%
Small Cap 9 $180M 2.0%

Portfolio Analytics

Avg Market Cap
$223.0B
Median Market Cap
$23.6B
Avg P/E
39.2
Median P/E
28.4
Avg Dividend Yield
0.01%
Avg Beta
1.00
# Stocks
183
# ETFs / Funds
5

Top Holdings (188 total)

# Symbol % Port Shares Value Avg Price Q/Q Value Chg Share Chg Chg % Status
1 TOTB.DE 11.84% 11,660,983 $1.1B $93.47 +11,660,983 NEW
2 C 9.84% 7,988,210 $906M $113.41 -$30M -29,472 -0.4%
3 T 9.78% 31,045,244 $900M $28.99 $179M +2,000,736 +6.9%
4 AVGO 7.01% 2,083,646 $645M $309.51 -$67M +25,651 +1.2%
5 AZN 6.04% 2,858,651 $556M $194.38 +2,858,651 NEW
6 MRK 4.87% 3,728,673 $449M $120.29 $56M
7 CME 3.68% 1,145,442 $338M $295.35 $25M -1,097 -0.1%
8 TRP 3.21% 4,720,722 $295M $62.50 $73M +679,868 +16.8%
9 TSM 2.58% 701,352 $237M $337.95 $41M +57,093 +8.9%
10 CSCO 2.46% 2,914,333 $226M $77.59 $5M +45,300 +1.6%
11 ENB 2.14% 3,641,034 $197M $54.15 $25M +39,203 +1.1%
12 EQH 2.01% 4,994,205 $185M $37.11 -$48M +104,475 +2.1%
13 MDT 1.90% 2,017,077 $175M $86.65 -$10M +88,332 +4.6%
14 HD 1.86% 521,009 $171M $328.89 -$8M +1,106 +0.2%
15 RF 1.85% 6,515,272 $170M $26.12 $1M +284,671 +4.6%
16 FCX 1.81% 2,836,234 $167M $58.78 $25M +41,440 +1.5%
17 LIN 1.47% 274,372 $135M $493.52 $20M +1,867 +0.7%
18 ALC 1.40% 1,708,677 $128M $75.16 -$10M -39,042 -2.2%
19 GOOGL 1.33% 424,942 $122M $287.56 -$10M +2,500 +0.6%
20 ABBV 1.19% 502,832 $109M $217.49 $18M +101,822 +25.4%
21 BZ 0.91% 6,232,846 $83M $13.39 -$41M +115,836 +1.9%
22 LYB 0.86% 977,081 $79M $80.56 $36M
23 BABA 0.83% 610,184 $77M $125.46 -$9M +26,156 +4.5%
24 SCHW 0.83% 809,560 $76M $93.98 $662K +54,672 +7.2%
25 META 0.78% 126,216 $72M $572.13 -$13M -3,554 -2.7%
26 CIM 0.75% 5,476,302 $69M $12.55 $3M +207,821 +3.9%
27 SLRC 0.72% 4,633,431 $66M $14.31 -$1M +265,570 +6.1%
28 PFE 0.68% 2,242,186 $63M $28.08 $8M +39,727 +1.8%
29 LLY 0.60% 60,178 $55M $919.77 $7M +14,774 +32.5%
30 MELI 0.58% 31,022 $54M $1,729.02 -$7M +1,067 +3.6%
31 MA 0.53% 97,913 $49M $499.66 -$8M -1,139 -1.1%
32 BKNG 0.51% 11,211 $47M $4,210.32 $25M +7,039 +168.7%
33 CACI 0.50% 84,568 $46M $543.87 $1M +822 +1.0%
34 LHX 0.48% 126,698 $44M $345.15 $7M
35 ADBE 0.46% 173,515 $42M $243.08 $7M +74,330 +74.9%
36 TJX 0.46% 263,663 $42M $159.70 $2M +3,092 +1.2%
37 AINV 0.40% 3,237,783 $36M $11.24 $496K +100,000 +3.2%
38 TDG 0.37% 29,662 $34M $1,158.96 -$29M -17,974 -37.7%
39 RACE 0.35% 96,042 $33M $338.45 -$56K +7,933 +9.0%
40 SE 0.33% 369,873 $31M $82.81 -$11M +46,044 +14.2%
41 VRT 0.31% 115,016 $29M $250.58 $7M -18,642 -13.9%
42 SHOP 0.30% 233,601 $28M $118.62 $6M +96,322 +70.2%
43 ASML 0.28% 19,513 $26M $1,320.83 $4M -803 -4.0%
44 COF 0.28% 139,670 $25M $182.43 -$19M -42,984 -23.5%
45 AMD 0.27% 122,568 $25M $203.43 -$1M -675 -0.6%
46 FTI 0.25% 333,174 $23M $69.13 $4M -91,588 -21.6%
47 ANET 0.22% 168,348 $21M $122.78 -$404K +7,516 +4.7%
48 MUFG 0.20% 1,077,231 $18M $16.97 $2M +49,589 +4.8%
49 ACWX 0.20% 263,169 $18M $68.47 $2M +22,828 +9.5%
50 SN 0.20% 169,821 $18M $105.90 -$3M -19,139 -10.1%
51 COHR 0.19% 74,771 $18M $238.21 -$2M -33,190 -30.7%
52 SAP 0.19% 101,507 $17M $171.21 $13M +82,269 +427.6%
53 ING 0.19% 666,239 $17M $26.05 -$362K +33,486 +5.3%
54 CCZ 0.19% 281,010 $17M $61.29 -$26K
55 VB 0.18% 64,480 $17M $261.92 +64,480 NEW
56 MTSI 0.18% 74,613 $17M $222.07 $702K -18,026 -19.5%
57 CWST 0.18% 203,167 $16M $79.34 -$8M -40,870 -16.8%
58 DCO 0.17% 130,431 $16M $122.00 $3M -4,667 -3.5%
59 AER 0.17% 115,348 $16M $137.18 -$959K -1,392 -1.2%
60 AIT 0.16% 56,414 $15M $265.32 -$5M -19,475 -25.7%
61 ITT 0.16% 77,958 $15M $190.53 -$3M -25,398 -24.6%
62 BLDR 0.16% 179,104 $15M $82.33 $17K +35,950 +25.1%
63 SONY 0.15% 669,134 $14M $20.70 -$871K +94,053 +16.4%
64 BAP 0.15% 40,584 $14M $339.18 $2M -17 -0.0%
65 AGX 0.15% 24,848 $14M $544.65 $6M +237 +1.0%
66 CIGI 0.14% 123,834 $13M $106.89 $12M +116,395 +1564.7%
67 TLN 0.14% 40,611 $13M $319.23 -$991K +3,380 +9.1%
68 EFA 0.14% 128,249 $12M $97.13 $6M +61,123 +91.1%
69 NFLX 0.13% 125,985 $12M $96.15 +125,985 NEW
70 NU 0.13% 840,203 $12M $14.37 -$6M -229,332 -21.4%
71 XPO 0.13% 62,018 $12M $194.55 $583K -22,470 -26.6%
72 MMYT 0.12% 302,535 $11M $37.29 -$2M +142,824 +89.4%
73 WAL 0.12% 158,357 $11M $70.85 -$3M -5,170 -3.2%
74 CLBT 0.12% 811,748 $11M $13.78 $3M +371,124 +84.2%
75 LPLA 0.12% 37,010 $11M $300.83 $608K +7,540 +25.6%
76 XP 0.12% 570,057 $11M $19.04 $3M +119,926 +26.6%
77 CLH 0.12% 37,762 $11M $286.73 -$3M -22,858 -37.7%
78 SHEL 0.12% 113,874 $11M $93.00 $3M +5,053 +4.6%
79 MYRG 0.11% 37,351 $11M $282.32 -$1M -15,719 -29.6%
80 TRU 0.11% 151,605 $10M $69.19 -$7M -46,581 -23.5%
81 DTM 0.11% 77,547 $10M $134.67 -$2M -22,286 -22.3%
82 MSFT 0.11% 27,521 $10M $370.17 $4M +13,912 +102.2%
83 THC 0.11% 52,134 $10M $188.71 -$3M -11,626 -18.2%
84 AIZ 0.10% 44,316 $10M $217.81 -$1M -1,793 -3.9%
85 AGYS 0.10% 126,433 $9M $71.14 -$12M -51,703 -29.0%
86 SXT 0.10% 101,425 $9M $86.44 -$4M -29,472 -22.5%
87 P 0.09% 147,434 $9M $59.04 -$4M -46,314 -23.9%
88 ACA 0.09% 79,739 $8M $106.14 -$3M -29,362 -26.9%
89 MU 0.09% 24,621 $8M $337.84 $775K -1,807 -6.8%
90 PJT 0.09% 56,023 $8M $139.72 -$1M +2,457 +4.6%
91 WH 0.08% 96,056 $8M $81.23 $259K -3,774 -3.8%
92 SITM 0.08% 21,207 $7M $345.35 -$95K +201 +1.0%
93 GPI 0.08% 21,853 $7M $330.63 -$2M -602 -2.7%
94 PBR 0.08% 345,693 $7M $20.75 $3M +817 +0.2%
95 MTDR 0.08% 113,175 $7M $63.18 $2M +495 +0.4%
96 INSM 0.07% 38,337 $6M $163.52 -$340K +366 +1.0%
97 CYTK 0.06% 83,190 $5M $65.91 $247K +792 +1.0%
98 BJ 0.06% 52,579 $5M $98.42 -$6M -69,106 -56.8%
99 DECK 0.06% 50,889 $5M $100.09 -$575K -3,792 -6.9%
100 CSTM 0.05% 205,467 $5M $24.58 $305K -46,268 -18.4%

New Positions

SymbolValue% Port
TOTB.DE $1.1B 11.84%
AZN $556M 6.04%
VB $17M 0.18%
NFLX $12M 0.13%
SPGI $2M 0.03%
AAMI $2M 0.02%
RPRX $2M 0.02%
VSCO $1M 0.02%
TME $1M 0.02%
HEI-A $1M 0.01%
RDDT $1M 0.01%
PGR $1M 0.01%
GWRE $881K 0.01%
TPR $865K 0.01%
VEEV $844K 0.01%

Sold Out Positions

SymbolValue% Port
FOUR —%
BROS —%
AVTR —%
WD —%
INSP —%
KRG —%
PWR —%
CVSA —%
CXT —%
PNFP —%
WCN —%
CHDN —%
CCB —%
ENTG —%
CASY —%
View SEC EDGAR Filings for THORNBURG INVESTMENT MANAGEMENT INC →

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For informational purposes only. Not investment advice. Data sourced from SEC filings. Privacy Terms