Thornburg Investment Management Inc.
In its 13F for Q1 2024 (holdings as of March 31, 2024, filed May 13, 2024), Thornburg Investment Management Inc. reported 186 stock positions worth $7.2 billion. Its top holding was Broadcom (AVGO) at 6.9% of the portfolio, followed by Citigroup (C, 6.2%) and AT&T (T, 5.0%). Compared with Q4 2023, it opened 12 new positions, sold out of 21, added to 41 and reduced 117. The biggest buy was Stellantis (STLA, shares +42%) and the biggest sale Qualcomm (QCOM, shares −73%).
- Most Recent 13F
- Q2 2026
- Location
- SANTA FE, NM
- CIK
- 0001145020
- Portfolio Value
- $7.2B (Q1 2024)
- SEC Filing
- 0001140361-24-025736 ↗ filed May 13, 2024
Holdings Value
Holdings 186 stocks · $7.2B
| AVGO Broadcom Inc. | 6.90% | 372,957 | $494.3M | Reduce -14.0% |
| C Citigroup Inc. | 6.20% | 7,023,940 | $444.2M | Reduce -1.0% |
| T AT&T Inc. | 5.03% | 20,476,671 | $360.4M | Add +8.6% |
| JPM JPMorgan Chase & Co. | 4.42% | 1,579,891 | $316.5M | Reduce -5.0% |
| CME Cme Group Inc. | 3.78% | 1,257,792 | $270.8M | Reduce -21.9% |
| MRK Merck & Co. Inc. | 3.45% | 1,871,244 | $246.9M | Reduce -7.2% |
| PFE Pfizer Inc. | 3.45% | 8,891,353 | $246.7M | Add +12.5% |
| LYB Lyondellbasell Indu Class A | 2.80% | 1,960,994 | $200.6M | No change |
| EQH Equitable Holdings Inc. | 2.80% | 5,267,993 | $200.2M | Reduce -3.3% |
| HD Home Depot Inc. | 2.73% | 510,286 | $195.7M | No change |
| RF Regions Financial Corp. | 2.37% | 8,059,579 | $169.6M | Reduce -27.9% |
| ABBV Abbvie Inc. | 2.05% | 807,598 | $147.1M | Reduce -19.6% |
| TSM Taiwan Semiconductor-SP ADR | 1.94% | 1,018,135 | $138.9M | Reduce -15.2% |
| ENB Enbridge Inc. | 1.82% | 3,595,427 | $130.3M | Add +1.5% |
| STLA Stellantis NV | 1.78% | 4,474,043 | $127.2M | Add +42.0% |
| META Meta Platforms Inc. Class A | 1.63% | 240,515 | $116.8M | Reduce -21.9% |
| PBR Petroleo Brasileiro-Spon ADR | 1.62% | 7,646,681 | $116.3M | No change |
| CP Canadian Pacific Kansas City | 1.53% | 1,278,149 | $109.3M | Reduce -10.6% |
| MDT Medtronic PLC | 1.52% | 1,251,442 | $109.1M | Add +35.2% |
| LIN Linde PLC | 1.44% | 219,444 | $103.1M | Reduce -6.7% |
| TRP TC Energy Corp. | 1.42% | 2,527,812 | $101.7M | Reduce -0.1% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.37% | 761,713 | $97.8M | Reduce -11.2% |
| CSCO Cisco Systems Inc. | 1.27% | 1,816,815 | $90.7M | Reduce -6.2% |
| QCOM Qualcomm Inc. | 1.23% | 520,290 | $88.1M | Reduce -73.1% |
| GOOGL Alphabet Inc. Class A | 1.16% | 548,080 | $82.7M | Reduce -2.1% |
| SCHW Schwab (charles) Corp. | 1.01% | 998,220 | $72.2M | Reduce -0.0% |
| CHIMERA INVT CORP | 0.96% | 14,857,969 | $68.5M | No change |
| FCX Freeport-McMoran Inc. | 0.95% | 1,450,024 | $68.2M | Add +6.3% |
| SLRC SLR Investment Corp. | 0.93% | 4,338,599 | $66.6M | No change |
| BKNG Booking Holdings Inc. | 0.85% | 16,843 | $61.1M | Reduce -1.7% |
| MA Mastercard Inc. Class A | 0.75% | 111,197 | $53.5M | Add +1.2% |
| MELI MercadoLibre Inc. | 0.70% | 33,209 | $50.2M | Reduce -1.6% |
| ALC Alcon Inc. filed as ALCON AG | 0.70% | 589,028 | $49.9M | Add +35.5% |
| NVDA Nvidia Corp. | 0.68% | 53,971 | $48.7M | Reduce -32.1% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.68% | 478,881 | $48.6M | Reduce -9.6% |
| MFIC Midcap Financial Investment | 0.62% | 2,937,783 | $44.2M | No change |
| ASML ASML Holding NV-NY Reg SHS | 0.60% | 44,384 | $43.1M | Reduce -4.4% |
| ICLR Icon PLC | 0.56% | 118,714 | $39.9M | Add +7.7% |
| CACI Caci International Inc. Class A | 0.53% | 99,411 | $37.7M | Reduce -7.0% |
| RACE Ferrari NV | 0.49% | 80,754 | $35.2M | Reduce -30.5% |
| ELME Elme Communities | 0.48% | 2,455,668 | $34.2M | Add +4.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.47% | 501,227 | $34.0M | Reduce -1.5% |
| COF Capital One Financial Corp. | 0.45% | 218,158 | $32.5M | Reduce -27.6% |
| AMD Advanced Micro Devices | 0.45% | 177,747 | $32.0M | Reduce -23.4% |
| CWST Casella Waste Systems Inc. Class A | 0.44% | 316,980 | $31.3M | Reduce -6.2% |
| TECK Teck Resources Ltd.-CLS B | 0.44% | 683,637 | $31.3M | Reduce -0.5% |
| HDB HDFC Bank Ltd.-ADR | 0.42% | 530,452 | $29.9M | Add +14.7% |
| VRT Vertiv Holdings Co. Class A | 0.41% | 356,230 | $29.1M | Reduce -12.9% |
| SHOP Shopify Inc. Class A | 0.40% | 374,417 | $28.9M | Reduce -0.8% |
| MBLY Mobileye Global Inc. Class A | 0.39% | 874,610 | $28.1M | New |
| MU Micron Technology Inc. | 0.39% | 233,923 | $27.7M | Reduce -11.4% |
| LHX L3HARRIS Technologies Inc. | 0.39% | 129,533 | $27.6M | Add +11.2% |
| TTE Totalenergies SE -Spon ADR | 0.37% | 378,954 | $26.3M | Reduce -2.0% |
| BZ Kanzhun Ltd. - ADR | 0.36% | 1,478,071 | $26.0M | New |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.36% | 2,142,916 | $25.6M | Add +290.9% |
| MYRG MYR Group Inc./Delaware | 0.33% | 132,514 | $23.4M | Add +15.7% |
| BLDR Builders Firstsource Inc. | 0.32% | 110,460 | $23.0M | Reduce -11.9% |
| FTI Technipfmc PLC | 0.31% | 891,297 | $22.4M | Reduce -4.8% |
| BABA Alibaba Group Holding-SP ADR | 0.30% | 300,719 | $21.8M | Reduce -10.4% |
| DEO Diageo PLC-Sponsored ADR | 0.30% | 146,203 | $21.7M | Add +115.9% |
| AIT Applied Industrial Tech Inc. | 0.30% | 109,669 | $21.7M | Reduce -6.1% |
| PDD PDD Holdings Inc. | 0.29% | 180,737 | $21.0M | Reduce -25.4% |
| OWL Blue Owl Capital Inc. | 0.29% | 1,091,333 | $20.6M | New |
| AVTR Avantor Inc. | 0.28% | 794,578 | $20.3M | Reduce -4.5% |
| CCC CCC Intelligent Solutions Ho | 0.28% | 1,696,534 | $20.3M | Reduce -3.6% |
| TRU Transunion | 0.27% | 239,362 | $19.1M | Reduce -3.9% |
| AGYS Agilysys Inc. | 0.26% | 222,541 | $18.7M | Reduce -4.9% |
| TBBB BBB Foods Inc. Class A | 0.26% | 785,912 | $18.7M | New |
| DBRG Digitalbridge Group Inc. | 0.25% | 936,232 | $18.0M | Add +36.9% |
| GLOB Globant SA | 0.25% | 87,969 | $17.7M | Reduce -1.3% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.24% | 336,842 | $17.5M | Reduce -12.5% |
| COST Costco Wholesale Corp. | 0.23% | 22,845 | $16.7M | Reduce -13.6% |
| CLH Clean Harbors Inc. | 0.23% | 80,876 | $16.3M | Reduce -5.0% |
| RPAY Repay Holdings Corp. | 0.22% | 1,427,728 | $15.7M | Reduce -6.3% |
| EDU New Oriental Educatio-SP ADR | 0.22% | 177,658 | $15.4M | New |
| POOL Pool Corp. | 0.21% | 38,057 | $15.4M | Reduce -3.8% |
| ITT Itt Inc. | 0.21% | 112,601 | $15.3M | Reduce -5.2% |
| LPLA LPL Financial Holdings Inc. | 0.21% | 55,771 | $14.7M | Reduce -9.8% |
| SN Sharkninja Inc. | 0.20% | 234,304 | $14.6M | New |
| QRVO Qorvo Inc. | 0.20% | 126,804 | $14.6M | Reduce -13.6% |
| SONY Sony Group Corp. - SP ADR | 0.20% | 169,503 | $14.5M | Add +7.8% |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.20% | 366,487 | $14.4M | Reduce -0.7% |
| BMRN Biomarin Pharmaceutical Inc. | 0.20% | 164,992 | $14.4M | Reduce -3.4% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.19% | 179,816 | $13.6M | Reduce -17.1% |
| ACA Arcosa Inc. | 0.19% | 154,393 | $13.2M | Reduce -4.0% |
| STKL Sunopta Inc. | 0.18% | 1,920,851 | $13.2M | Reduce -3.9% |
| XPO Xpo Inc. | 0.18% | 107,147 | $13.1M | Reduce -3.9% |
| PNFP Pinnacle Financial Partners | 0.18% | 150,972 | $13.0M | Reduce -5.9% |
| BAP Credicorp Ltd. | 0.18% | 75,955 | $12.9M | Reduce -6.3% |
| COHR Coherent Corp. | 0.18% | 211,558 | $12.8M | New |
| DECK Deckers Outdoor Corp. | 0.18% | 13,447 | $12.6M | Reduce -36.1% |
| PETQ Petiq Inc. | 0.18% | 690,980 | $12.6M | Add +7.6% |
| V Visa Inc. Class A | 0.18% | 45,222 | $12.6M | Reduce -58.1% |
| AIZ Assurant Inc. | 0.18% | 66,960 | $12.6M | Reduce -9.9% |
| NTES Netease Inc.-ADR | 0.17% | 119,727 | $12.4M | Add +9.5% |
| TTEK Tetra Tech Inc. | 0.17% | 66,801 | $12.3M | Reduce -1.1% |
| KMPR Kemper Corp. | 0.17% | 195,204 | $12.1M | Add +17.1% |
| ACM Aecom | 0.17% | 122,841 | $12.0M | Reduce -4.0% |
| WCN Waste Connections Inc. | 0.17% | 70,034 | $12.0M | No change |
| ENTG Entegris Inc. | 0.17% | 84,539 | $11.9M | Reduce -19.1% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $87K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| COMCAST HOLDINGS CORP | ZONES CV2% PCS · principal | 157,910 | $87K | No change |
Total filed on the 13F, all lines: $7.2B.
Portfolio Sells Q4 2023 → Q1 2024
| QCOM Qualcomm Inc. | Reduce -73.1% | 1.23% | −2.80 |
| CME Cme Group Inc. | Reduce -21.9% | 3.78% | −1.11 |
| RF Regions Financial Corp. | Reduce -27.9% | 2.37% | −0.76 |
| FIS Fidelity National Info Serv | Sold out | 0.00% | −0.44 |
| V Visa Inc. Class A | Reduce -58.1% | 0.18% | −0.23 |
| PDD PDD Holdings Inc. | Reduce -25.4% | 0.29% | −0.22 |
| ABBV Abbvie Inc. | Reduce -19.6% | 2.05% | −0.20 |
| YETI Yeti Holdings Inc. | Sold out | 0.00% | −0.18 |
| AON Aon PLC Class A | Sold out | 0.00% | −0.18 |
| CSCO Cisco Systems Inc. | Reduce -6.2% | 1.27% | −0.15 |
| YUMC Yum China Holdings Inc. | Reduce -46.4% | 0.14% | −0.14 |
| NVST Envista Holdings Corp. | Sold out | 0.00% | −0.14 |
| HTHT H World Group Ltd.-ADR | Reduce -93.1% | 0.01% | −0.13 |
| COF Capital One Financial Corp. | Reduce -27.6% | 0.45% | −0.12 |
| VOD Vodafone Group PLC-SP ADR | Reduce -56.0% | 0.08% | −0.11 |
| ARM Arm Holdings PLC-ADR | Reduce -91.0% | 0.02% | −0.11 |
| DLO Dlocal Ltd. | Sold out | 0.00% | −0.10 |
| EFA iShares MSCI Eafe ETF | Reduce -60.1% | 0.06% | −0.09 |
| AVGO Broadcom Inc. | Reduce -14.0% | 6.90% | −0.09 |
| RACE Ferrari NV | Reduce -30.5% | 0.49% | −0.08 |
| BABA Alibaba Group Holding-SP ADR | Reduce -10.4% | 0.30% | −0.07 |
| MELI MercadoLibre Inc. | Reduce -1.6% | 0.70% | −0.07 |
| CP Canadian Pacific Kansas City | Reduce -10.6% | 1.53% | −0.06 |
| TDY Teledyne Technologies Inc. | Sold out | 0.00% | −0.06 |
| HLIT Harmonic Inc. | Reduce -33.2% | 0.12% | −0.06 |
| GLOB Globant SA | Reduce -1.3% | 0.25% | −0.06 |
| ATRC Atricure Inc. | Sold out | 0.00% | −0.05 |
| WD Walker & Dunlop Inc. | Reduce -14.3% | 0.16% | −0.05 |
| GO Grocery Outlet Holding Corp. | Sold out | 0.00% | −0.05 |
| AMD Advanced Micro Devices | Reduce -23.4% | 0.45% | −0.05 |
| LTHM Livent Corp. | Sold out | 0.00% | −0.05 |
| TJX TJX Companies Inc. | Reduce -9.6% | 0.68% | −0.04 |
| KRBN KS Global Carbon Stratgy ETF | Sold out | 0.00% | −0.04 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -3.4% | 0.20% | −0.04 |
| QRVO Qorvo Inc. | Reduce -13.6% | 0.20% | −0.04 |
| DECK Deckers Outdoor Corp. | Reduce -36.1% | 0.18% | −0.03 |
| AGYS Agilysys Inc. | Reduce -4.9% | 0.26% | −0.02 |
| BKNG Booking Holdings Inc. | Reduce -1.7% | 0.85% | −0.02 |
| PJT PJT Partners Inc. Class A | Reduce -14.1% | 0.08% | −0.02 |
| NOW ServiceNow Inc. | Reduce -30.3% | 0.06% | −0.02 |
| AZN Astrazeneca PLC-Spons ADR | Reduce -1.5% | 0.47% | −0.02 |
| SHOP Shopify Inc. Class A | Reduce -0.8% | 0.40% | −0.02 |
| PNFP Pinnacle Financial Partners | Reduce -5.9% | 0.18% | −0.02 |
| CYTK Cytokinetics Inc. | Reduce -1.7% | 0.08% | −0.02 |
| AZPN Aspen Technology Inc. | Reduce -7.1% | 0.14% | −0.02 |
| KRG Kite Realty Group Trust | Reduce -5.2% | 0.13% | −0.02 |
| COST Costco Wholesale Corp. | Reduce -13.6% | 0.23% | −0.02 |
| BJ Bj's Wholesale Club Holdings | Reduce -17.1% | 0.19% | −0.02 |
| GPI Group 1 Automotive Inc. | Reduce -3.9% | 0.14% | −0.02 |
| ENTG Entegris Inc. | Reduce -19.1% | 0.17% | −0.01 |
Portfolio Buys Q4 2023 → Q1 2024
| STLA Stellantis NV | Add +42.0% | 1.78% | +0.71 |
| T AT&T Inc. | Add +8.6% | 5.03% | +0.46 |
| MDT Medtronic PLC | Add +35.2% | 1.52% | +0.42 |
| MBLY Mobileye Global Inc. Class A | New | 0.39% | +0.39 |
| BZ Kanzhun Ltd. - ADR | New | 0.36% | +0.36 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +290.9% | 0.36% | +0.29 |
| OWL Blue Owl Capital Inc. | New | 0.29% | +0.29 |
| TBBB BBB Foods Inc. Class A | New | 0.26% | +0.26 |
| EDU New Oriental Educatio-SP ADR | New | 0.22% | +0.22 |
| SN Sharkninja Inc. | New | 0.20% | +0.20 |
| ALC Alcon Inc. | Add +35.5% | 0.70% | +0.19 |
| COHR Coherent Corp. | New | 0.18% | +0.18 |
| VIST Vista Energy Sab DE CV | New | 0.16% | +0.16 |
| DEO Diageo PLC-Sponsored ADR | Add +115.9% | 0.30% | +0.16 |
| PFE Pfizer Inc. | Add +12.5% | 3.45% | +0.16 |
| TME Tencent Music Entertainm-ADR | New | 0.15% | +0.15 |
| TCOM Trip.com Group Ltd.-ADR | New | 0.14% | +0.14 |
| FCX Freeport-McMoran Inc. | Add +6.3% | 0.95% | +0.11 |
| SE Sea Ltd.-ADR | Add +362.6% | 0.13% | +0.11 |
| ICLR Icon PLC | Add +7.7% | 0.56% | +0.11 |
| MYRG MYR Group Inc./Delaware | Add +15.7% | 0.33% | +0.09 |
| DBRG Digitalbridge Group Inc. | Add +36.9% | 0.25% | +0.08 |
| FROG Jfrog Ltd. | New | 0.07% | +0.07 |
| MA Mastercard Inc. Class A | Add +1.2% | 0.75% | +0.07 |
| SMG Scotts Miracle-Gro Co. | Add +63.5% | 0.14% | +0.07 |
| KMPR Kemper Corp. | Add +17.1% | 0.17% | +0.05 |
| EL Estee Lauder Companies Class A | Add +34.0% | 0.14% | +0.04 |
| MTSI Macom Technology Solutions H | Add +44.1% | 0.13% | +0.04 |
| BRDG Bridge Investment Grp HDS-A | Add +181.2% | 0.07% | +0.04 |
| LHX L3HARRIS Technologies Inc. | Add +11.2% | 0.39% | +0.03 |
| NTES Netease Inc.-ADR | Add +9.5% | 0.17% | +0.03 |
| ORANY Orange-Spon ADR | Add +20.6% | 0.15% | +0.02 |
| CRDO Credo Technology Group Holdi | Add +37.1% | 0.07% | +0.02 |
| STVN Stevanato Group SPA | Add +14.6% | 0.09% | +0.02 |
| TXNM TXNM Energy Inc. | Add +27.9% | 0.16% | +0.02 |
| IBN Icici Bank Ltd.-Spon ADR | Add +7.3% | 0.09% | +0.01 |
| KB KB Financial Group Inc.-ADR | New | 0.01% | +0.01 |
| CWAN Clearwater Analytics HDS-A | Add +31.7% | 0.08% | +0.01 |
| AAPL Apple Inc. | Add +91.2% | 0.02% | +0.01 |
| ACWX iShares MSCI Acwi Ex US ETF | Add +3.8% | 0.10% | +0.00 |
| INSP Inspire Medical Systems Inc. | Add +3.8% | 0.08% | +0.00 |
| WAL Western Alliance Bancorp | Add +7.4% | 0.16% | +0.00 |
| AXICY Centrais Eletricas Brasileir | Add +18.8% | 0.01% | +0.00 |
| ASAIY Sendas Distribuidora SA | Add +10.8% | 0.01% | +0.00 |
| NVS Novartis AG-Sponsored ADR | Add +14.1% | 0.01% | +0.00 |
| CNMD Conmed Corp. | Add +35.5% | 0.12% | −0.01 |
| PETQ Petiq Inc. | Add +7.6% | 0.18% | −0.01 |
| WH Wyndham Hotels & Resorts Inc. | Add +0.5% | 0.14% | −0.01 |
| SONY Sony Group Corp. - SP ADR | Add +7.8% | 0.20% | −0.01 |
| ELME Elme Communities | Add +4.3% | 0.48% | −0.02 |
All Filings
| Quarter | Positions | 13F Reported Value | Top Holdings |
|---|---|---|---|
| Q2 2026 | 138 | $10.4B | C, TTE, T, AVGO, KMB |
| Q1 2026 | 169 | $9.6B | TTE, C, T, AVGO, AZN |
| Q4 2025 | 174 | $7.9B | C, T, AVGO, MRK, CME |
| Q3 2025 | 174 | $7.6B | C, T, AVGO, CME, MRK |
| Q2 2025 | 175 | $7.8B | T, AVGO, C, MRK, CME |
| Q1 2025 | 181 | $7.1B | T, C, AVGO, MRK, CME |
| Q4 2024 | 187 | $7.6B | AVGO, T, C, CME, PFE |
| Q3 2024 | 191 | $7.7B | AVGO, T, C, CME, PFE |
| Q2 2024 | 188 | $7.1B | AVGO, T, C, PFE, CME |
| Q1 2024 | 186 | $7.2B | AVGO, C, T, JPM, CME |