THORNBURG INVESTMENT MANAGEMENT INC
SEC Form 13F institutional filer · CIK 0001145020
13F-HR · 56 reported holdings · 2026-03-31
Asset management firm.
Reported long-US-equity value
$5.34B
Top-10 concentration
77.7%
THORNBURG INVESTMENT MANAGEMENT INC — $5.34B AUM allocation strategy
THORNBURG INVESTMENT MANAGEMENT INC files SEC Form 13F and reports $5.34B of long US equity value across 56 reported holdings for 2026-03-31.
Its largest sector bet is Financials 28.9%, followed by Communication Services 20.5% and Information Technology 16.3%.
The top 10 holdings account for 78% of reported value — a conviction-weighted book concentrated in its best ideas. The sector and industry splits below are of the same reported value. Track quarter-over-quarter adds, trims, new positions and exits below — sourced from SEC 13F filings, public domain.
THORNBURG INVESTMENT MANAGEMENT INC — latest SEC 13F insights
Reported long-US-equity value (13F AUM)
$5.34B
total across 56 reported holdings · 2026-03-31 · excludes shorts, cash, non-US
Top-10 concentration
78% of value
higher = narrower conviction; lower = spread / hedging
Biggest adds (shares)
+$T +1.99M sh · +$176M+$RF +285K sh · +$1.33M+$ABBV +102K sh · +$17.7M
Biggest trims (shares)
−$COF −43K sh · −$18.8M−$COHR −33.2K sh · −$2.12M−$C −29.5K sh · −$29.6M
Sector allocation (share of reported value)
each slice is a share of the reported long-US-equity value — smaller sectors and the rest of the book roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Industry allocation (share of reported value)
- Diversified Banks17.0%—
- Integrated Telecommunication Services16.9%—
- Semiconductors12.1%—
- Pharmaceuticals10.6%—
- Financial Exchanges & Data6.3%—
- Communications Equipment4.3%—
- Interactive Media & Services3.6%—
- Health Care Equipment3.2%—
- Other holdings26.0%—
the finer GICS cut of the same book — same denominator — smaller industries roll into “Other holdings”
Qtr shift = share-point change vs the prior quarter's filing — first period tracked for this filer; the column fills in with the next quarterly refresh.
Top S&P 500 holdings
10 of 10 rows · sorted by Value ↓
| Ticker | Holding | Shares | Value | Δ QoQ | Weight |
|---|---|---|---|---|---|
| $C | Citigroup Inc | 7.99M | $906M | -29.5K | 17.0% |
| $T | AT&T Inc | 31M | $901M | +1.99M | 16.9% |
| $AVGO | Broadcom Inc | 2.08M | $645M | +25.7K | 12.1% |
| $MRK | Merck & Company Inc | 3.73M | $449M | +0 | 8.4% |
| $CME | CME Group Inc | 1.15M | $338M | -1.1K | 6.3% |
| $CSCO | Cisco Systems Inc | 2.91M | $226M | +45.3K | 4.2% |
| $MDT | Medtronic plc | 2.02M | $175M | +88.3K | 3.3% |
| $HD | Home Depot Inc | 521K | $171M | +1.11K | 3.2% |
| $RF | Regions Financial Corporation | 6.52M | $170M | +285K | 3.2% |
| $FCX | Freeport-McMoRan Inc | 2.84M | $167M | +41.4K | 3.1% |
…and 46 more holdings in the full 13F filing (top positions only shown).
SEC Form 13F data sets · public domain · 45-day filing lag · >$100M AUM managers · as reported
← All 13F filers·← QuantOrb.pro
How to read Δ QoQ — the five insight categories, and the caveats
The categories. Analysts, quants and retail traders look past total portfolio value to isolate actionable signals. Five categories matter.
Conviction & concentration shifts
New positions vs complete exits — a brand-new stock signals high conviction; a full liquidation suggests a broken thesis or tax-loss harvesting. Aggressive sizing — look at share count, not dollars: a 20% share increase during a drawdown is strong dip-buying. Concentration — a narrowing top-5/10 means conviction; spreading capital across more names means hedging.
Sector & macro allocation rotations
Aggregating Δ QoQ moves across sectors shows where smart money is leaning in or sneaking out — rotating out of growth into defensives or energy, for example. The fund's total long equity exposure quarter-over-quarter is a proxy for overall institutional risk appetite.
Crowding & smart-money consensus
When several managers initiate or expand the same stock in the same quarter, that is institutional consensus. Contrarian reads: top pickers buying hard into a beaten-down name the market is selling.
Derivative & option overlays
Reported call/put changes indicate whether managers are adding downside hedges or leveraging upside exposure. Note: a long increase may be half of a market-neutral pair trade.
Who reads this
| Retail "cloners" | High-conviction ideas to replicate ~45 days after quarter-end. |
| Corporate IR | Which funds bought or dumped the stock, before the next call. |
| Quant / algo traders | Cross-sectional factor inputs: flow, momentum, ownership. |
Four caveats before you trade on it
- 45-day lag — holdings are quarter-end; positions may already be closed.
- Long-only — 13Fs miss shorts, pair trades and cash.
- No non-US / fixed income — the picture is US equities plus options.
- Corporate actions — splits and spinoffs distort raw share deltas.
Newsletter signup
Free subscription. Daily trading day morning dispatch. No spam.