13F HOLDINGS REPORT
THORNBURG INVESTMENT MANAGEMENT INC
Quarter ended Q4 2025 · Filed February 13, 2026 · Accession 0001140361-26-005232
Total Value
$7.93B
Positions
176
Other Managers
0
Confidential Omitted
No
Holdings (176)
| # | Issuer | Ticker / CUSIP | Shares | Value | % of Filing |
|---|---|---|---|---|---|
| 1 | CITIGROUP INC | C-PR | 8,017,682 | $935.6M | 11.81% |
| 2 | AT&T INC | T-PC | 29,044,508 | $721.5M | 9.10% |
| 3 | BROADCOM INC | AVGO | 2,057,995 | $712.3M | 8.99% |
| 4 | MERCK & CO INC | MRK | 3,728,673 | $392.5M | 4.95% |
| 5 | CME GROUP INC | CME | 1,146,539 | $313.1M | 3.95% |
| 6 | EQUITABLE HLDGS INC | EQH-PC | 4,889,730 | $233.0M | 2.94% |
| 7 | TC ENERGY CORP | TRPRF | 4,040,854 | $222.5M | 2.81% |
| 8 | CISCO SYS INC | CSCO | 2,869,033 | $221.0M | 2.79% |
| 9 | TAIWAN SEMICONDUCTOR MFG LTD | 874039100 | 644,259 | $195.8M | 2.47% |
| 10 | MEDTRONIC PLC | MDT | 1,928,745 | $185.3M | 2.34% |
| 11 | HOME DEPOT INC | HD | 519,903 | $178.9M | 2.26% |
| 12 | ENBRIDGE INC | ENNPF | 3,601,831 | $172.4M | 2.18% |
| 13 | REGIONS FINANCIAL CORP NEW | RF-PF | 6,230,601 | $168.8M | 2.13% |
| 14 | CANADIAN PACIFIC KANSAS CITY | CP | 2,102,939 | $154.8M | 1.95% |
| 15 | FREEPORT-MCMORAN INC | FCX | 2,794,794 | $141.9M | 1.79% |
| 16 | ALCON AG | ALC | 1,747,719 | $138.1M | 1.74% |
| 17 | ALPHABET INC | GOOG | 422,442 | $132.2M | 1.67% |
| 18 | KANZHUN LIMITED | BZ | 6,117,010 | $124.7M | 1.57% |
| 19 | LINDE PLC | LIN | 272,505 | $115.9M | 1.46% |
| 20 | FERROVIAL SE | FER | 1,724,228 | $112.0M | 1.41% |
| 21 | ABBVIE INC | ABBV | 401,010 | $91.6M | 1.16% |
| 22 | META PLATFORMS INC | META | 129,770 | $85.7M | 1.08% |
| 23 | ALIBABA GROUP HLDG LTD | BBAAY | 584,028 | $85.6M | 1.08% |
| 24 | SOUTH BOW CORP | SOBO | 2,829,875 | $77.8M | 0.98% |
| 25 | SCHWAB CHARLES CORP | SCHW-PJ | 754,888 | $75.4M | 0.95% |
| 26 | SLR INVESTMENT CORP | SLRC | 4,367,861 | $67.5M | 0.85% |
| 27 | CHIMERA INVT CORP | 16934Q802 | 5,268,481 | $65.5M | 0.83% |
| 28 | TRANSDIGM GROUP INC | TDG | 47,636 | $63.3M | 0.80% |
| 29 | MERCADOLIBRE INC | MELI | 29,955 | $60.3M | 0.76% |
| 30 | MASTERCARD INCORPORATED | MA | 99,052 | $56.5M | 0.71% |
| 31 | PFIZER INC | PFE | 2,202,459 | $54.8M | 0.69% |
| 32 | ELI LILLY & CO | LLY | 45,404 | $48.8M | 0.62% |
| 33 | ASTRAZENECA PLC | AZN | 505,985 | $46.5M | 0.59% |
| 34 | CACI INTL INC | 127190304 | 83,746 | $44.6M | 0.56% |
| 35 | CAPITAL ONE FINL CORP | 14040H105 | 182,654 | $44.3M | 0.56% |
| 36 | LYONDELLBASELL INDUSTRIES N | LYB | 977,081 | $42.3M | 0.53% |
| 37 | MAREX GROUP PLC | MRX | 1,102,143 | $42.3M | 0.53% |
| 38 | SEA LTD | SE | 323,829 | $41.3M | 0.52% |
| 39 | TJX COS INC NEW | 872540109 | 260,571 | $40.0M | 0.51% |
| 40 | L3HARRIS TECHNOLOGIES INC | LHX | 126,698 | $37.2M | 0.47% |
| 41 | MIDCAP FINANCIAL INVSTMNT CO | 03761U502 | 3,137,783 | $35.9M | 0.45% |
| 42 | ADOBE INC | ADBE | 99,185 | $34.7M | 0.44% |
| 43 | FERRARI N V | RACE | 88,109 | $32.6M | 0.41% |
| 44 | ADVANCED MICRO DEVICES INC | AMD | 123,243 | $26.4M | 0.33% |
| 45 | CASELLA WASTE SYS INC | CWST | 244,037 | $23.9M | 0.30% |
| 46 | BOOKING HOLDINGS INC | BKNG | 4,172 | $22.3M | 0.28% |
| 47 | SHOPIFY INC | SHOP | 137,279 | $22.1M | 0.28% |
| 48 | ASML HOLDING N V | ASMLF | 20,316 | $21.7M | 0.27% |
| 49 | VERTIV HOLDINGS CO | VRT | 133,658 | $21.7M | 0.27% |
| 50 | AGILYSYS INC | AGYS | 178,136 | $21.2M | 0.27% |
| 51 | SHARKNINJA INC | SN | 188,960 | $21.1M | 0.27% |
| 52 | ARISTA NETWORKS INC | ANET | 160,832 | $21.1M | 0.27% |
| 53 | COHERENT CORP | COHR | 107,961 | $19.9M | 0.25% |
| 54 | APPLIED INDL TECHNOLOGIES IN | 03820C105 | 75,889 | $19.5M | 0.25% |
| 55 | TECHNIPFMC PLC | FTI | 424,762 | $18.9M | 0.24% |
| 56 | ITT INC | ITT | 103,356 | $17.9M | 0.23% |
| 57 | NU HLDGS LTD | NU | 1,069,535 | $17.9M | 0.23% |
| 58 | ING GROEP N.V. | INGVF | 632,753 | $17.7M | 0.22% |
| 59 | COMCAST HOLDINGS CORP | CCZ | 281,010 | $17.2M | 0.22% |
| 60 | TRANSUNION | TRU | 198,186 | $17.0M | 0.21% |
| 61 | AERCAP HOLDINGS NV | AER | 116,740 | $16.8M | 0.21% |
| 62 | MITSUBISHI UFJ FINL GROUP IN | 606822104 | 1,027,642 | $16.3M | 0.21% |
| 63 | ISHARES TR | 464288240 | 240,341 | $16.1M | 0.20% |
| 64 | MACOM TECH SOLUTIONS HLDGS I | 55405Y100 | 92,639 | $15.9M | 0.20% |
| 65 | BUILDERS FIRSTSOURCE INC | BLDR | 143,154 | $14.7M | 0.19% |
| 66 | SONY GROUP CORP | SNEJF | 575,081 | $14.7M | 0.19% |
| 67 | FLUTTER ENTMT PLC | G3643J108 | 66,216 | $14.2M | 0.18% |
| 68 | CLEAN HARBORS INC | CLH | 60,620 | $14.2M | 0.18% |
| 69 | TALEN ENERGY CORP | TLN | 37,231 | $14.0M | 0.18% |
| 70 | WESTERN ALLIANCE BANCORP | WAL-PA | 163,527 | $13.7M | 0.17% |
| 71 | PINNACLE FINL PARTNERS INC | 72346Q104 | 138,594 | $13.2M | 0.17% |
| 72 | SERVICETITAN INC | TTAN | 124,159 | $13.2M | 0.17% |
| 73 | MAKEMYTRIP LIMITED MAURITIUS | MMYT | 159,711 | $13.1M | 0.17% |
| 74 | PURE STORAGE INC | 74624M102 | 193,748 | $13.0M | 0.16% |
| 75 | DUCOMMUN INC DEL | DCO | 135,098 | $12.9M | 0.16% |
| 76 | ADTALEM GLOBAL ED INC | ADT | 123,239 | $12.8M | 0.16% |
| 77 | TRIP COM GROUP LTD | TRPCF | 176,758 | $12.7M | 0.16% |
| 78 | TENET HEALTHCARE CORP | THC | 63,760 | $12.7M | 0.16% |
| 79 | SENSIENT TECHNOLOGIES CORP | SXT | 130,897 | $12.3M | 0.16% |
| 80 | DT MIDSTREAM INC | DTM | 99,833 | $11.9M | 0.15% |
| 81 | CREDICORP LTD | BAP | 40,601 | $11.7M | 0.15% |
| 82 | ARCOSA INC | ACA | 109,101 | $11.6M | 0.15% |
| 83 | MYR GROUP INC DEL | MYRG | 53,070 | $11.6M | 0.15% |
| 84 | XPO INC | XPO | 84,488 | $11.5M | 0.14% |
| 85 | ASSURANT INC | AIZN | 46,109 | $11.1M | 0.14% |
| 86 | BJS WHSL CLUB HLDGS INC | 05550J101 | 121,685 | $11.0M | 0.14% |
| 87 | LPL FINL HLDGS INC | 50212V100 | 29,470 | $10.5M | 0.13% |
| 88 | ICON PLC | ICLR | 54,173 | $9.9M | 0.12% |
| 89 | WALKER & DUNLOP INC | WD | 160,103 | $9.6M | 0.12% |
| 90 | PJT PARTNERS INC | PJT | 53,566 | $9.0M | 0.11% |
| 91 | GROUP 1 AUTOMOTIVE INC | GPI | 22,455 | $8.8M | 0.11% |
| 92 | SHELL PLC | RYDAF | 108,821 | $8.0M | 0.10% |
| 93 | VERRA MOBILITY CORP | VRRM | 356,591 | $8.0M | 0.10% |
| 94 | CELLEBRITE DI LTD | CLBT | 440,624 | $7.9M | 0.10% |
| 95 | CREDO TECHNOLOGY GROUP HOLDI | CRDO | 54,962 | $7.9M | 0.10% |
| 96 | SUNOPTA INC | STKL | 2,074,489 | $7.9M | 0.10% |
| 97 | CASEYS GEN STORES INC | 147528103 | 14,020 | $7.7M | 0.10% |
| 98 | ARGAN INC | AGX | 24,611 | $7.7M | 0.10% |
| 99 | REPLIGEN CORP | RGEN | 46,488 | $7.6M | 0.10% |
| 100 | WYNDHAM HOTELS & RESORTS INC | WH | 99,830 | $7.5M | 0.10% |
| 101 | MICRON TECHNOLOGY INC | MU | 26,428 | $7.5M | 0.10% |
| 102 | CCC INTELLIGENT SOLUTIONS HL | CCC | 938,688 | $7.5M | 0.09% |
| 103 | SITIME CORP | SITM | 21,006 | $7.4M | 0.09% |
| 104 | XP INC | XP | 450,131 | $7.4M | 0.09% |
| 105 | CRANE NXT CO | CXT | 142,960 | $6.7M | 0.08% |
| 106 | NUTANIX INC | NTNX | 129,597 | $6.7M | 0.08% |
| 107 | STANDARDAERO INC | SARO | 232,502 | $6.7M | 0.08% |
| 108 | JFROG LTD | FROG | 106,399 | $6.6M | 0.08% |
| 109 | AVANTOR INC | AVTR | 576,959 | $6.6M | 0.08% |
| 110 | INSMED INC | INSM | 37,971 | $6.6M | 0.08% |
| 111 | MICROSOFT CORP | MSFT | 13,609 | $6.6M | 0.08% |
| 112 | ISHARES TR | 464287465 | 67,126 | $6.4M | 0.08% |
| 113 | BBB FOODS INC | TBBB | 187,102 | $6.2M | 0.08% |
| 114 | MONDAY COM LTD | MNDY | 41,714 | $6.2M | 0.08% |
| 115 | ARTIVION INC | AORT | 129,037 | $5.9M | 0.07% |
| 116 | ICICI BANK LIMITED | IBN | 192,359 | $5.7M | 0.07% |
| 117 | DECKERS OUTDOOR CORP | DECK | 54,681 | $5.7M | 0.07% |
| 118 | OPEN TEXT CORP | OTEX | 168,449 | $5.5M | 0.07% |
| 119 | BIOMARIN PHARMACEUTICAL INC | BMRN | 90,730 | $5.4M | 0.07% |
| 120 | GLAUKOS CORP | GKOS | 47,725 | $5.4M | 0.07% |
| 121 | NETSKOPE INC | NTSK | 302,288 | $5.3M | 0.07% |
| 122 | MIRION TECHNOLOGIES INC | MIR | 226,209 | $5.3M | 0.07% |
| 123 | RAMBUS INC DEL | RMBS | 57,554 | $5.3M | 0.07% |
| 124 | DUTCH BROS INC | BROS | 85,792 | $5.3M | 0.07% |
| 125 | CYTOKINETICS INC | CYTK | 82,398 | $5.2M | 0.07% |
| 126 | CELSIUS HLDGS INC | CELH | 112,954 | $5.2M | 0.07% |
| 127 | MATADOR RES CO | MTDR | 112,680 | $4.8M | 0.06% |
| 128 | CONSTELLIUM SE | CSTM | 251,735 | $4.7M | 0.06% |
| 129 | SAP SE | SAPGF | 19,238 | $4.7M | 0.06% |
| 130 | SERVICENOW INC | NOW | 29,835 | $4.6M | 0.06% |
| 131 | STEPSTONE GROUP INC | STEP | 71,137 | $4.6M | 0.06% |
| 132 | ENTEGRIS INC | ENTG | 51,267 | $4.3M | 0.05% |
| 133 | PETROLEO BRASILEIRO SA PETRO | 71654V408 | 344,876 | $4.1M | 0.05% |
| 134 | INSULET CORP | PODD | 14,242 | $4.0M | 0.05% |
| 135 | FRESHPET INC | FRPT | 64,667 | $3.9M | 0.05% |
| 136 | SHIFT4 PMTS INC | 82452J109 | 56,879 | $3.6M | 0.05% |
| 137 | LIBERTY MEDIA CORP DEL | FWONB | 35,956 | $3.5M | 0.04% |
| 138 | TRADEWEB MKTS INC | 892672106 | 31,760 | $3.4M | 0.04% |
| 139 | AEROVIRONMENT INC | AVAV | 14,051 | $3.4M | 0.04% |
| 140 | SAIA INC | SAIA | 10,084 | $3.3M | 0.04% |
| 141 | DIAGEO PLC | DGEAF | 37,772 | $3.3M | 0.04% |
| 142 | SAMSARA INC | IOT | 91,335 | $3.2M | 0.04% |
| 143 | STELLANTIS N.V | STLA | 296,324 | $3.2M | 0.04% |
| 144 | CHURCHILL DOWNS INC | CHDN | 28,342 | $3.2M | 0.04% |
| 145 | ON HLDG AG | H5919C104 | 67,225 | $3.1M | 0.04% |
| 146 | AMAZON COM INC | AMZN | 10,748 | $2.5M | 0.03% |
| 147 | GLOBANT S A | GLOB | 37,296 | $2.4M | 0.03% |
| 148 | INSPIRE MED SYS INC | 457730109 | 25,197 | $2.3M | 0.03% |
| 149 | COASTAL FINL CORP WA | 19046P209 | 19,252 | $2.2M | 0.03% |
| 150 | BRISTOL-MYERS SQUIBB CO | CELG-RI | 38,400 | $2.1M | 0.03% |
| 151 | NVIDIA CORPORATION | NVDA | 10,912 | $2.0M | 0.03% |
| 152 | VANGUARD INTL EQUITY INDEX F | 922042775 | 23,356 | $1.7M | 0.02% |
| 153 | AMER SPORTS INC | AS | 40,253 | $1.5M | 0.02% |
| 154 | VISA INC | V | 4,166 | $1.5M | 0.02% |
| 155 | SCHLUMBERGER LTD | SLB | 35,406 | $1.4M | 0.02% |
| 156 | AIRBNB INC | ABNB | 1,350,000 | $1.3M | 0.02% |
| 157 | LIBERTY ENERGY INC | LBRT | 62,882 | $1.2M | 0.01% |
| 158 | COLLIERS INTL GROUP INC | 194693107 | 7,439 | $1.1M | 0.01% |
| 159 | TENARIS S A | 88031M109 | 21,297 | $818,870 | 0.01% |
| 160 | WASTE CONNECTIONS INC | WCN | 4,337 | $760,536 | 0.01% |
| 161 | VANGUARD STAR FDS | 921909768 | 9,722 | $733,428 | 0.01% |
| 162 | ZOETIS INC | ZTS | 5,816 | $731,769 | 0.01% |
| 163 | NOVARTIS AG | NVSEF | 4,889 | $674,046 | 0.01% |
| 164 | QUANTA SVCS INC | 74762E102 | 1,503 | $634,356 | 0.01% |
| 165 | JPMORGAN CHASE & CO. | VYLD | 1,949 | $628,007 | 0.01% |
| 166 | HDFC BANK LTD | HDB | 15,533 | $567,576 | 0.01% |
| 167 | GRUPO AEROPUERTO DEL PACIFIC | 400506101 | 2,021 | $532,796 | 0.01% |
| 168 | COCA-COLA FEMSA SAB DE CV | COCSF | 4,594 | $435,098 | 0.01% |
| 169 | KB FINL GROUP INC | 48241A105 | 4,675 | $402,237 | 0.01% |
| 170 | APPLE INC | AAPL | 1,329 | $361,302 | 0.00% |
| 171 | ITAU UNIBANCO HLDG S A | 465562106 | 42,993 | $307,830 | 0.00% |
| 172 | INFOSYS LTD | INFY | 16,738 | $298,271 | 0.00% |
| 173 | COUPANG INC | CPNG | 11,384 | $268,549 | 0.00% |
| 174 | KITE RLTY GROUP TR | 49803T300 | 11,077 | $265,516 | 0.00% |
| 175 | AIR LEASE CORP | AIIR | 3,950 | $253,709 | 0.00% |
| 176 | VODAFONE GROUP PLC NEW | 92857W308 | 17,164 | $226,736 | 0.00% |