Fund HoldingsTHORNBURG INVESTMENT MANAGEMENT INC

Total Portfolio Value
$7.93B
Total Bought
$744.20M
Total Sold
$501.89M
Net Transaction
+$242.31M
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
CITIGROUP INC(C)8,022,2408,017,682-4,558814,257935,58311.81%+121,326
MERCK & CO INC(MRK)03,728,673+3,728,6730392,4804.95%+392,480
FREEPORT-MCMORAN INC(FCX)02,794,794+2,794,7940141,9481.79%+141,948
ELI LILLY & CO(LLY)045,404+45,404048,7950.62%+48,795
REGIONS FINANCIAL CORP NEW(RF)4,624,7656,230,601+1,605,836121,955168,8492.13%+46,894
CISCO SYS INC(CSCO)2,611,8902,869,033+257,143178,706221,0022.79%+42,296
KANZHUN LIMITED(BZ)3,851,5696,117,010+2,265,44189,973124,6651.57%+34,692
ALCON AG(ALC)01,747,719+1,747,7190138,0811.74%+138,081
SOUTH BOW CORP(SOBO)1,997,3012,829,875+832,57456,50477,8400.98%+21,336
PFIZER INC(PFE)02,202,459+2,202,459054,8410.69%+54,841
ADOBE INC(ADBE)58,33899,185+40,84720,57934,7140.44%+14,135
FERROVIAL SE
ORD SHS
1,721,3441,724,228+2,88498,822111,9821.41%+13,160
MAKEMYTRIP LIMITED MAURITIUS
SHS
0159,711+159,711013,1150.17%+13,115
CME GROUP INC(CME)1,111,1821,146,539+35,357300,230313,0973.95%+12,867
TAIWAN SEMICONDUCTOR MFG LTD(TSM)664,576644,259-20,317185,609195,7842.47%+10,174
AERCAP HOLDINGS NV(AER)72,238116,740+44,5028,74116,7830.21%+8,042
CELLEBRITE DI LTD(CLBT)0440,624+440,62407,9440.10%+7,944
ADVANCED MICRO DEVICES INC(AMD)114,262123,243+8,98118,48626,3940.33%+7,907
ALPHABET INC(GOOG)513,429422,442-90,987124,815132,2241.67%+7,410
XP INC(XP)0450,131+450,13107,3690.09%+7,369
ASTRAZENECA PLC(AZN)510,947505,985-4,96239,20046,5150.59%+7,315
MAREX GROUP PLC(MRX)1,049,3511,102,143+52,79235,27942,2780.53%+6,999
MICRON TECHNOLOGY INC(MU)026,428+26,42807,5430.10%+7,543
COHERENT CORP(COHR)128,327107,961-20,36613,82319,9260.25%+6,103
CAPITAL ONE FINL CORP(COF)0182,654+182,654044,2680.56%+44,268
NETSKOPE INC(NTSK)0302,288+302,28805,3020.07%+5,302
MIRION TECHNOLOGIES INC(MIR)0226,209+226,20905,2980.07%+5,298
MACOM TECH SOLUTIONS HLDGS I(MTSI)092,639+92,639015,8670.20%+15,867
SERVICETITAN INC(TTAN)82,692124,159+41,4678,33813,2230.17%+4,885
CONSTELLIUM SE(CSTM)0251,735+251,73504,7450.06%+4,745
ENTEGRIS INC(ENTG)051,267+51,26704,3190.05%+4,319
SHARKNINJA INC(SN)0188,960+188,960021,1450.27%+21,145
TC ENERGY CORP(TRP)4,027,2864,040,854+13,568218,926222,5362.81%+3,610
ING GROEP N.V.(ING)546,389632,753+86,36414,25017,7170.22%+3,467
AEROVIRONMENT INC014,051+14,05103,3990.04%+3,399
SCHWAB CHARLES CORP(SCHW)0754,888+754,888075,4210.95%+75,421
CASEYS GEN STORES INC(CASY)8,85714,020+5,1635,0077,7490.10%+2,742
AGILYSYS INC(AGYS)0178,136+178,136021,1700.27%+21,170
COASTAL FINL CORP WA019,252+19,25202,2060.03%+2,206
MONDAY COM LTD
SHS
041,714+41,71406,1550.08%+6,155
CACI INTL INC(CACI)85,59383,746-1,84742,69244,6210.56%+1,929
PJT PARTNERS INC(PJT)053,566+53,56608,9560.11%+8,956
VANGUARD INTL EQUITY INDEX F3,75123,356+19,6052681,7180.02%+1,450
MEDTRONIC PLC(MDT)1,930,2951,928,745-1,550183,841185,2752.34%+1,434
BIOMARIN PHARMACEUTICAL INC(BMRN)090,730+90,73005,3920.07%+5,392
GLAUKOS CORP(GKOS)047,725+47,72505,3890.07%+5,389
ASML HOLDING N V
N Y REGISTRY SHS
21,05820,316-74220,38621,7350.27%+1,349
ARCOSA INC0109,101+109,101011,6000.15%+11,600
REPLIGEN CORP(RGEN)47,79746,488-1,3096,3897,6180.10%+1,228
ISHARES TR229,362240,341+10,97914,91116,1340.20%+1,223
DUTCH BROS INC(BROS)77,71185,792+8,0814,0675,2520.07%+1,185
SHOPIFY INC(SHOP)141,135137,279-3,85620,97422,0980.28%+1,124
GLOBANT S A
COM
037,296+37,29602,4380.03%+2,438
SITIME CORP(SITM)21,03721,006-316,3397,4190.09%+1,080
AVANTOR INC(AVTR)0576,959+576,95906,6120.08%+6,612
JFROG LTD(FROG)120,173106,399-13,7745,6886,6460.08%+958
STANDARDAERO INC(SARO)0232,502+232,50206,6680.08%+6,668
ISHARES TR59,88167,126+7,2455,5916,4460.08%+855
COLLIERS INTL GROUP INC(CIGI)1,6687,439+5,7712611,0940.01%+833
INSPIRE MED SYS INC(INSP)025,197+25,19702,3240.03%+2,324
SLR INVESTMENT CORP04,367,861+4,367,861067,5270.85%+67,527
LPL FINL HLDGS INC(LPLA)029,470+29,470010,5260.13%+10,526
DT MIDSTREAM INC(DTM)100,25899,833-42511,33511,9480.15%+613
CYTOKINETICS INC(CYTK)84,71982,398-2,3214,6565,2360.07%+579
TRANSDIGM GROUP INC(TDG)47,63647,636062,78563,3490.80%+564
XPO INC(XPO)084,488+84,488011,4830.14%+11,483
CASELLA WASTE SYS INC(CWST)0244,037+244,037023,9010.30%+23,901
CHURCHILL DOWNS INC(CHDN)028,342+28,34203,2250.04%+3,225
VERRA MOBILITY CORP307,570356,591+49,0217,5977,9910.10%+394
STELLANTIS N.V(STLA)0296,324+296,32403,2270.04%+3,227
FRESHPET INC(FRPT)064,667+64,66703,9400.05%+3,940
VANGUARD STAR FDS5,2929,722+4,4303897330.01%+345
BRISTOL-MYERS SQUIBB CO(BMY)38,40038,40001,7322,0710.03%+339
TECHNIPFMC PLC(FTI)472,380424,762-47,61818,63518,9270.24%+292
ARTIVION INC(AORT)132,672129,037-3,6355,6175,8850.07%+268
INSMED INC(INSM)44,04837,971-6,0776,3436,6080.08%+265
LIBERTY ENERGY INC(LBRT)74,49562,882-11,6139191,1610.01%+242
TRADEWEB MKTS INC(TW)031,760+31,76003,4150.04%+3,415
TJX COS INC NEW(TJX)275,387260,571-14,81639,80440,0260.51%+222
SHELL PLC(SHEL)108,798108,821+237,7827,9960.10%+214
COMCAST HOLDINGS CORP(CCZ)00017,05017,2480.22%+197
SAIA INC(SAIA)10,36810,084-2843,1043,2930.04%+189
SCHLUMBERGER LTD(SLB)34,10035,406+1,3061,1721,3590.02%+187
CREDO TECHNOLOGY GROUP HOLDI
ORDINARY SHARES
53,04954,962+1,9137,7247,9080.10%+184
VERTIV HOLDINGS CO(VRT)0133,658+133,658021,6540.27%+21,654
TRANSUNION(TRU)0198,186+198,186016,9940.21%+16,994
DECKERS OUTDOOR CORP(DECK)054,681+54,68105,6690.07%+5,669
AMAZON COM INC(AMZN)10,93710,748-1892,4012,4810.03%+79
COCA-COLA FEMSA SAB DE CV(KOF)04,594+4,59404350.01%+435
GRUPO AEROPUERTO DEL PACIFIC(PAC)2,0472,021-264865330.01%+47
NOVARTIS AG(NVS)4,8894,88906276740.01%+47
SAP SE(SAP)019,238+19,23804,6730.06%+4,673
CLEAN HARBORS INC(CLH)060,620+60,620014,2140.18%+14,214
VODAFONE GROUP PLC NEW(VOD)17,16417,16401992270.00%+28
VISA INC(V)4,2244,166-581,4421,4610.02%+19
AIRBNB INC(ABNB)0001,3211,3370.02%+16
KB FINL GROUP INC(KB)04,675+4,67504020.01%+402
HDFC BANK LTD(HDB)015,533+15,53305680.01%+568
ITAU UNIBANCO HLDG S A(ITUB)42,32042,993+6733113080.00%-3
SAMSARA INC(IOT)87,17491,335+4,1613,2473,2380.04%-9
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