Thornburg Investment Management Inc.
In its 13F for Q2 2024 (holdings as of June 30, 2024, filed August 8, 2024), Thornburg Investment Management Inc. reported 188 stock positions worth $7.1 billion. Its top holding was Broadcom (AVGO) at 8.2% of the portfolio, followed by AT&T (T, 6.7%) and Citigroup (C, 6.3%). Compared with Q1 2024, it opened 12 new positions, sold out of 10, added to 54 and reduced 89. The biggest buy was AT&T (T, shares +22%) and the biggest sale JPMorgan Chase (JPM, shares −37%).
- Most Recent 13F
- Q2 2026
- Location
- SANTA FE, NM
- CIK
- 0001145020
- Portfolio Value
- $7.1B (Q2 2024)
- SEC Filing
- 0001140361-24-036252 ↗ filed Aug 8, 2024
Holdings Value
Holdings 188 stocks · $7.1B
| AVGO Broadcom Inc. | 8.16% | 360,664 | $579.1M | Reduce -3.3% |
| T AT&T Inc. | 6.73% | 24,988,396 | $477.5M | Add +22.0% |
| C Citigroup Inc. | 6.26% | 7,005,098 | $444.5M | Reduce -0.3% |
| PFE Pfizer Inc. | 3.86% | 9,803,509 | $274.3M | Add +10.3% |
| CME Cme Group Inc. | 3.48% | 1,257,792 | $247.3M | No change |
| MRK Merck & Co. Inc. | 3.26% | 1,871,244 | $231.7M | No change |
| EQH Equitable Holdings Inc. | 3.03% | 5,267,993 | $215.3M | No change |
| JPM JPMorgan Chase & Co. | 2.86% | 1,002,171 | $202.7M | Reduce -36.6% |
| LYB Lyondellbasell Indu Class A | 2.65% | 1,964,958 | $188.0M | Add +0.2% |
| HD Home Depot Inc. | 2.47% | 510,286 | $175.7M | No change |
| TSM Taiwan Semiconductor-SP ADR | 2.29% | 931,644 | $162.7M | Reduce -8.5% |
| MDT Medtronic PLC | 2.03% | 1,827,086 | $143.8M | Add +46.0% |
| ABBV Abbvie Inc. | 1.95% | 807,598 | $138.5M | No change |
| TRP TC Energy Corp. | 1.92% | 3,590,617 | $136.1M | Add +42.0% |
| ENB Enbridge Inc. | 1.80% | 3,581,161 | $127.4M | Reduce -0.4% |
| META Meta Platforms Inc. Class A | 1.72% | 241,610 | $121.8M | Add +0.5% |
| RF Regions Financial Corp. | 1.63% | 5,760,151 | $115.4M | Reduce -28.5% |
| LIN Linde PLC | 1.58% | 253,541 | $112.2M | Add +15.5% |
| PBR Petroleo Brasileiro-Spon ADR | 1.56% | 7,646,681 | $110.8M | No change |
| CP Canadian Pacific Kansas City | 1.50% | 1,393,624 | $106.6M | Add +9.0% |
| NVO Novo-Nordisk A/S-Spons ADR | 1.49% | 740,368 | $105.7M | Reduce -2.8% |
| GOOGL Alphabet Inc. Class A | 1.41% | 547,493 | $99.7M | Reduce -0.1% |
| CSCO Cisco Systems Inc. | 1.40% | 2,096,015 | $99.6M | Add +15.4% |
| SCHW Schwab (charles) Corp. | 1.04% | 998,220 | $73.6M | No change |
| SLRC SLR Investment Corp. | 0.98% | 4,338,599 | $69.8M | No change |
| FCX Freeport-McMoran Inc. | 0.94% | 1,377,019 | $66.9M | Reduce -5.0% |
| BKNG Booking Holdings Inc. | 0.94% | 16,815 | $66.6M | Reduce -0.2% |
| MELI MercadoLibre Inc. | 0.81% | 35,117 | $57.7M | Add +5.8% |
| NVDA Nvidia Corp. | 0.79% | 455,702 | $56.4M | Reduce -15.6% |
| MA Mastercard Inc. Class A | 0.71% | 113,798 | $50.2M | Add +2.3% |
| ALC Alcon Inc. filed as ALCON AG | 0.70% | 553,074 | $50.0M | Reduce -6.1% |
| HDB HDFC Bank Ltd.-ADR | 0.70% | 772,925 | $49.5M | Add +45.7% |
| TJX TJX Companies Inc. filed as TJX COS INC NEW | 0.70% | 449,283 | $49.5M | Reduce -6.2% |
| ASML ASML Holding NV-NY Reg SHS | 0.63% | 43,909 | $45.1M | Reduce -1.1% |
| MFIC Midcap Financial Investment | 0.63% | 2,937,783 | $44.5M | No change |
| EDU New Oriental Educatio-SP ADR | 0.61% | 553,694 | $43.1M | Add +211.7% |
| STLA Stellantis NV | 0.60% | 2,139,943 | $42.4M | Reduce -52.2% |
| CACI Caci International Inc. Class A | 0.55% | 91,512 | $39.4M | Reduce -8.0% |
| ELME Elme Communities | 0.55% | 2,455,668 | $39.1M | No change |
| ICLR Icon PLC | 0.54% | 122,650 | $38.5M | Add +3.3% |
| AZN Astrazeneca PLC-Spons ADR | 0.54% | 491,469 | $38.3M | Reduce -1.9% |
| BABA Alibaba Group Holding-SP ADR | 0.48% | 475,205 | $34.2M | Add +58.0% |
| AMD Advanced Micro Devices | 0.47% | 202,659 | $33.0M | Add +14.0% |
| RACE Ferrari NV | 0.46% | 79,521 | $32.5M | Reduce -1.5% |
| NU Nu Holdings Ltd./Cayman Isl-A filed as NU HLDGS LTD | 0.45% | 2,453,222 | $31.6M | Add +14.5% |
| CWST Casella Waste Systems Inc. Class A | 0.43% | 308,747 | $30.6M | Reduce -2.6% |
| COF Capital One Financial Corp. | 0.43% | 217,907 | $30.2M | Reduce -0.1% |
| BLDR Builders Firstsource Inc. | 0.42% | 214,101 | $29.6M | Add +93.8% |
| MBLY Mobileye Global Inc. Class A | 0.42% | 1,049,302 | $29.5M | Add +20.0% |
| LHX L3HARRIS Technologies Inc. | 0.41% | 129,533 | $29.1M | No change |
| MU Micron Technology Inc. | 0.41% | 219,401 | $28.8M | Reduce -6.2% |
| VRT Vertiv Holdings Co. Class A | 0.39% | 319,035 | $27.6M | Reduce -10.4% |
| GLOB Globant SA | 0.38% | 151,396 | $27.0M | Add +72.1% |
| SHOP Shopify Inc. Class A | 0.34% | 370,640 | $24.5M | Reduce -1.0% |
| PDD PDD Holdings Inc. | 0.34% | 182,419 | $24.3M | Add +0.9% |
| TTE Totalenergies SE -Spon ADR | 0.34% | 360,482 | $24.2M | Reduce -4.9% |
| EL Estee Lauder Companies Class A filed as LAUDER ESTEE COS INC | 0.33% | 223,002 | $23.7M | Add +233.1% |
| TECK Teck Resources Ltd.-CLS B | 0.32% | 470,663 | $22.6M | Reduce -31.1% |
| AGYS Agilysys Inc. | 0.31% | 213,260 | $22.2M | Reduce -4.2% |
| FTI Technipfmc PLC | 0.31% | 828,068 | $21.7M | Reduce -7.1% |
| P Everpure Inc. Class A filed as PURE STORAGE INC | 0.29% | 324,345 | $20.8M | Reduce -3.7% |
| SE Sea Ltd.-ADR | 0.29% | 283,552 | $20.3M | Add +66.1% |
| AIT Applied Industrial Tech Inc. | 0.28% | 101,175 | $19.6M | Reduce -7.8% |
| CCC CCC Intelligent Solutions Ho | 0.26% | 1,653,567 | $18.4M | Reduce -2.5% |
| TRU Transunion | 0.25% | 242,698 | $18.0M | Add +1.4% |
| MYRG MYR Group Inc./Delaware | 0.25% | 129,025 | $17.5M | Reduce -2.6% |
| SN Sharkninja Inc. | 0.24% | 230,419 | $17.3M | Reduce -1.7% |
| CLH Clean Harbors Inc. | 0.24% | 75,962 | $17.2M | Reduce -6.1% |
| AVTR Avantor Inc. | 0.23% | 772,187 | $16.4M | Reduce -2.8% |
| SONY Sony Group Corp. - SP ADR | 0.23% | 191,482 | $16.3M | Add +13.0% |
| OWL Blue Owl Capital Inc. | 0.22% | 891,723 | $15.8M | Reduce -18.3% |
| COHR Coherent Corp. | 0.21% | 205,051 | $14.9M | Reduce -3.1% |
| PETQ Petiq Inc. | 0.21% | 663,287 | $14.6M | Reduce -4.0% |
| LPLA LPL Financial Holdings Inc. | 0.20% | 50,683 | $14.1M | Reduce -9.1% |
| RPAY Repay Holdings Corp. | 0.20% | 1,322,321 | $13.9M | Reduce -7.4% |
| ACA Arcosa Inc. | 0.20% | 166,128 | $13.8M | Add +7.6% |
| TME Tencent Music Entertainm-ADR | 0.19% | 974,570 | $13.7M | Add +0.1% |
| CYTK Cytokinetics Inc. | 0.19% | 252,811 | $13.7M | Add +201.8% |
| STVN Stevanato Group SPA | 0.19% | 746,218 | $13.7M | Add +279.1% |
| TBBB BBB Foods Inc. Class A | 0.19% | 560,388 | $13.4M | Reduce -28.7% |
| BMRN Biomarin Pharmaceutical Inc. | 0.19% | 161,446 | $13.3M | Reduce -2.1% |
| TTEK Tetra Tech Inc. | 0.19% | 64,831 | $13.3M | Reduce -3.0% |
| BJ Bj's Wholesale Club Holdings filed as BJS WHSL CLUB HLDGS INC | 0.19% | 150,524 | $13.2M | Reduce -16.3% |
| TCOM Trip.com Group Ltd.-ADR | 0.18% | 275,934 | $13.0M | Add +23.4% |
| DBRG Digitalbridge Group Inc. | 0.18% | 909,424 | $12.4M | Reduce -2.9% |
| WCN Waste Connections Inc. | 0.17% | 70,034 | $12.3M | No change |
| BAP Credicorp Ltd. | 0.17% | 76,009 | $12.3M | Add +0.1% |
| MUFG Mitsubishi Ufj Finl-Spon ADR | 0.17% | 1,105,928 | $12.0M | Add +154.2% |
| ITT Itt Inc. | 0.17% | 92,953 | $12.0M | Reduce -17.4% |
| V Visa Inc. Class A | 0.17% | 44,809 | $11.8M | Reduce -0.9% |
| PNFP Pinnacle Financial Partners | 0.16% | 144,372 | $11.5M | Reduce -4.4% |
| POOL Pool Corp. | 0.16% | 37,061 | $11.4M | Reduce -2.6% |
| ENTG Entegris Inc. | 0.16% | 83,168 | $11.3M | Reduce -1.6% |
| SXT Sensient Technologies Corp. | 0.16% | 150,759 | $11.2M | Reduce -9.7% |
| WH Wyndham Hotels & Resorts Inc. | 0.16% | 150,427 | $11.1M | Add +12.0% |
| KMPR Kemper Corp. | 0.16% | 187,429 | $11.1M | Reduce -4.0% |
| VTMX Corp. Inmobiliaria Vesta-ADR filed as VESTA REAL ESTATE CORP | 0.15% | 366,462 | $11.0M | Reduce -0.0% |
| XPO Xpo Inc. | 0.15% | 102,900 | $10.9M | Reduce -4.0% |
| COST Costco Wholesale Corp. | 0.15% | 12,792 | $10.9M | Reduce -44.0% |
| DECK Deckers Outdoor Corp. | 0.15% | 11,159 | $10.8M | Reduce -17.0% |
Other holdings (1): bonds, preferreds, convertibles and warrants · $88K (not counted above)
| Security | Class | Shares / Principal | Value | Change |
|---|---|---|---|---|
| COMCAST HOLDINGS CORP | ZONES CV2% PCS · principal | 157,910 | $88K | No change |
Total filed on the 13F, all lines: $7.1B.
Portfolio Sells Q1 2024 → Q2 2024
| JPM JPMorgan Chase & Co. | Reduce -36.6% | 2.86% | −1.56 |
| QCOM Qualcomm Inc. | Reduce -99.1% | 0.01% | −1.22 |
| STLA Stellantis NV | Reduce -52.2% | 0.60% | −1.18 |
| CHIMERA INVT CORP | Sold out | 0.00% | −0.96 |
| RF Regions Financial Corp. | Reduce -28.5% | 1.63% | −0.74 |
| DEO Diageo PLC-Sponsored ADR | Reduce -82.0% | 0.05% | −0.26 |
| BZ Kanzhun Ltd. - ADR | Reduce -68.8% | 0.12% | −0.24 |
| QRVO Qorvo Inc. | Sold out | 0.00% | −0.20 |
| NTES Netease Inc.-ADR | Sold out | 0.00% | −0.17 |
| ACM Aecom | Sold out | 0.00% | −0.17 |
| SWAV Shockwave Medical Inc. | Sold out | 0.00% | −0.15 |
| CNMD Conmed Corp. | Sold out | 0.00% | −0.12 |
| TECK Teck Resources Ltd.-CLS B | Reduce -31.1% | 0.32% | −0.12 |
| HLIT Harmonic Inc. | Sold out | 0.00% | −0.12 |
| MYRG MYR Group Inc./Delaware | Reduce -2.6% | 0.25% | −0.08 |
| COST Costco Wholesale Corp. | Reduce -44.0% | 0.15% | −0.08 |
| DBRG Digitalbridge Group Inc. | Reduce -2.9% | 0.18% | −0.08 |
| TBBB BBB Foods Inc. Class A | Reduce -28.7% | 0.19% | −0.07 |
| BRDG Bridge Investment Grp HDS-A | Reduce -96.3% | 0.00% | −0.07 |
| OWL Blue Owl Capital Inc. | Reduce -18.3% | 0.22% | −0.06 |
| SHOP Shopify Inc. Class A | Reduce -1.0% | 0.34% | −0.06 |
| POOL Pool Corp. | Reduce -2.6% | 0.16% | −0.05 |
| AVTR Avantor Inc. | Reduce -2.8% | 0.23% | −0.05 |
| VTMX Corp. Inmobiliaria Vesta-ADR | Reduce -0.0% | 0.15% | −0.05 |
| ITT Itt Inc. | Reduce -17.4% | 0.17% | −0.04 |
| STKL Sunopta Inc. | Reduce -2.4% | 0.14% | −0.04 |
| RACE Ferrari NV | Reduce -1.5% | 0.46% | −0.03 |
| ORANY Orange-Spon ADR | Reduce -9.5% | 0.12% | −0.03 |
| XPO Xpo Inc. | Reduce -4.0% | 0.15% | −0.03 |
| COF Capital One Financial Corp. | Reduce -0.1% | 0.43% | −0.03 |
| TTE Totalenergies SE -Spon ADR | Reduce -4.9% | 0.34% | −0.03 |
| AIT Applied Industrial Tech Inc. | Reduce -7.8% | 0.28% | −0.03 |
| AIZ Assurant Inc. | Reduce -4.0% | 0.15% | −0.03 |
| ENB Enbridge Inc. | Reduce -0.4% | 1.80% | −0.02 |
| CCC CCC Intelligent Solutions Ho | Reduce -2.5% | 0.26% | −0.02 |
| DECK Deckers Outdoor Corp. | Reduce -17.0% | 0.15% | −0.02 |
| ACHC Acadia Healthcare Co. Inc. | Reduce -4.0% | 0.11% | −0.02 |
| TXNM TXNM Energy Inc. | Reduce -13.2% | 0.14% | −0.02 |
| RPAY Repay Holdings Corp. | Reduce -7.4% | 0.20% | −0.02 |
| SMG Scotts Miracle-Gro Co. | Reduce -2.4% | 0.12% | −0.02 |
| VIST Vista Energy Sab DE CV | Reduce -19.9% | 0.15% | −0.02 |
| ARM Arm Holdings PLC-ADR | Sold out | 0.00% | −0.02 |
| PNFP Pinnacle Financial Partners | Reduce -4.4% | 0.16% | −0.02 |
| WBD Warner Bros Discovery Inc. | Sold out | 0.00% | −0.02 |
| VRT Vertiv Holdings Co. Class A | Reduce -10.4% | 0.39% | −0.02 |
| BMRN Biomarin Pharmaceutical Inc. | Reduce -2.1% | 0.19% | −0.01 |
| AZPN Aspen Technology Inc. | Reduce -4.0% | 0.13% | −0.01 |
| BSY Bentley Systems Inc. Class B | Reduce -7.0% | 0.10% | −0.01 |
| KMPR Kemper Corp. | Reduce -4.0% | 0.16% | −0.01 |
| V Visa Inc. Class A | Reduce -0.9% | 0.17% | −0.01 |
Portfolio Buys Q1 2024 → Q2 2024
| T AT&T Inc. | Add +22.0% | 6.73% | +1.69 |
| MDT Medtronic PLC | Add +46.0% | 2.03% | +0.50 |
| TRP TC Energy Corp. | Add +42.0% | 1.92% | +0.50 |
| PFE Pfizer Inc. | Add +10.3% | 3.86% | +0.42 |
| EDU New Oriental Educatio-SP ADR | Add +211.7% | 0.61% | +0.39 |
| HDB HDFC Bank Ltd.-ADR | Add +45.7% | 0.70% | +0.28 |
| EL Estee Lauder Companies Class A | Add +233.1% | 0.33% | +0.19 |
| BABA Alibaba Group Holding-SP ADR | Add +58.0% | 0.48% | +0.18 |
| SE Sea Ltd.-ADR | Add +66.1% | 0.29% | +0.16 |
| NTNX Nutanix Inc. Class A | New | 0.15% | +0.15 |
| LIN Linde PLC | Add +15.5% | 1.58% | +0.14 |
| CSCO Cisco Systems Inc. | Add +15.4% | 1.40% | +0.14 |
| GLOB Globant SA | Add +72.1% | 0.38% | +0.13 |
| MELI MercadoLibre Inc. | Add +5.8% | 0.81% | +0.11 |
| AL Sumisho Air Lease Corp. | New | 0.11% | +0.11 |
| CYTK Cytokinetics Inc. | Add +201.8% | 0.19% | +0.11 |
| FER Ferrovial NV | New | 0.11% | +0.11 |
| GOLF Acushnet Holdings Corp. | New | 0.11% | +0.11 |
| MUFG Mitsubishi Ufj Finl-Spon ADR | Add +154.2% | 0.17% | +0.11 |
| STVN Stevanato Group SPA | Add +279.1% | 0.19% | +0.10 |
| BLDR Builders Firstsource Inc. | Add +93.8% | 0.42% | +0.10 |
| NU Nu Holdings Ltd./Cayman Isl-A | Add +14.5% | 0.45% | +0.09 |
| META Meta Platforms Inc. Class A | Add +0.5% | 1.72% | +0.09 |
| PCRX Pacira Biosciences Inc. | New | 0.08% | +0.08 |
| SDHC Smith Douglas Homes Corp. | New | 0.07% | +0.07 |
| EFA iShares MSCI Eafe ETF | Add +85.4% | 0.12% | +0.05 |
| ACWX iShares MSCI Acwi Ex US ETF | Add +52.9% | 0.15% | +0.05 |
| GKOS Glaukos Corp. | New | 0.05% | +0.05 |
| PDD PDD Holdings Inc. | Add +0.9% | 0.34% | +0.05 |
| TCOM Trip.com Group Ltd.-ADR | Add +23.4% | 0.18% | +0.05 |
| CRDO Credo Technology Group Holdi | Add +7.0% | 0.11% | +0.04 |
| TME Tencent Music Entertainm-ADR | Add +0.1% | 0.19% | +0.04 |
| BMY Bristol-Myers Squibb Co. | New | 0.04% | +0.04 |
| H Hyatt Hotels Corp. Class A | New | 0.04% | +0.04 |
| OTEX Open Text Corp. | Add +200.0% | 0.05% | +0.03 |
| SONY Sony Group Corp. - SP ADR | Add +13.0% | 0.23% | +0.03 |
| SRPT Sarepta Therapeutics Inc. | Add +10.8% | 0.09% | +0.02 |
| MBLY Mobileye Global Inc. Class A | Add +20.0% | 0.42% | +0.02 |
| ABNB Airbnb Inc. Class A | New | 0.02% | +0.02 |
| CYBR Cyberark Software Ltd./Israel | Add +15.8% | 0.11% | +0.02 |
| AMD Advanced Micro Devices | Add +14.0% | 0.47% | +0.02 |
| WH Wyndham Hotels & Resorts Inc. | Add +12.0% | 0.16% | +0.01 |
| MNDY Monday.com Ltd. | Add +5.3% | 0.10% | +0.01 |
| IBN Icici Bank Ltd.-Spon ADR | Add +1.2% | 0.10% | +0.01 |
| NOW ServiceNow Inc. | Add +12.1% | 0.07% | +0.01 |
| ACA Arcosa Inc. | Add +7.6% | 0.20% | +0.01 |
| VST Vistra Corp. | New | 0.01% | +0.01 |
| LBRT Liberty Energy Inc. | Add +6.8% | 0.11% | +0.01 |
| MMYT Makemytrip Ltd. | Add +0.8% | 0.03% | +0.01 |
| VEU Vanguard Ftse All-World Ex-U | New | 0.00% | +0.00 |
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 |