Thornburg Investment Management Inc.
Annual return '25
+49.3%
SPY '25
+17.7%
Alpha
+31.6ptsvs SPY
Invested
$9.6B
Holdings
171
Trades YTD
0
Performance · Fund vs SPY
Cumulative return · quarterly snapshotsCoverage 100%. 4 quarters of 2025 measured against SPY adj-close benchmark.
Top holdings · current snapshot
Source: 13F-HR01
$TTE
TOTALENERGIES SE
Q1 2026: Exited (was 250.0k shares)
11.3%
02
$C
CITIGROUP INC
Q1 2026: Sold 82.5% (715.0k → 125.0k shares)
9.4%
03
$T
AT&T INC
Q1 2026: Sold 29.4% (680.0k → 480.0k shares)
9.3%
04
$AVGO
BROADCOM INC
Q1 2026: Sold 5.5% (474.0k → 448.0k shares)
6.7%
05
$AZN
ASTRAZENECA PLC
Q1 2026: Exited (was 184.7k shares)
5.8%
06
$MRK
MERCK & CO INC
Q1 2026: Sold 35.5% (17.2k → 11.1k shares)
4.7%
07
$CME
CME GROUP INC
Q1 2026: Sold 87.7% (20.0k → 2.5k shares)
3.5%
08
$TRP
TC ENERGY CORP
Q4 2025: Exited (was 4.03M shares)
3.1%
09
$TSM
TAIWAN SEMICONDUCTOR MFG LTD
Q1 2026: Sold 99.1% (14.35M → 130.9k shares)
2.5%
10
$CSCO
CISCO SYS INC
Q1 2026: Sold 28.5% (75.0k → 53.6k shares)
2.3%
Recent trades · Last 90 days
No Form 4 / 13D / 13G trade events on file in the recent window. 13F filers report position snapshots quarterly rather than per-trade events, so this section is most useful for managers who also file Form 4 or 13D/G.
Convergence · Pattern Engine ships in v1.1
30-day windowIn development
Convergence participation lands with the Pattern Engine.
Once the Pattern Engine ships, this section will list every active convergence event this fund is named in — with the other named funds, the Congress members on the same name, and combined position size.
Source data: SEC EDGAR · 13F-HR filings · Performance through 2025-12-31 · Last refreshed 16:51 UTC.