{
  "crd_number": 106357,
  "slug": "thornburg-investment-management-inc-santa-fe-nm-106357",
  "primary_business_name": "THORNBURG INVESTMENT MANAGEMENT INC",
  "legal_name": "THORNBURG INVESTMENT MANAGEMENT INC",
  "dbas": [],
  "city": "Santa Fe",
  "state": "NM",
  "country": "United States",
  "cbsa_code": "42140",
  "metro": {
    "cbsa_code": "42140",
    "common_name": "Santa Fe",
    "msa_name": "Santa Fe, NM",
    "path": "/advisors/nm/santa-fe"
  },
  "registration_type": "sec",
  "registration_status": "Approved",
  "registration_date": "1982-10-15",
  "years_registered": 43,
  "period": "2026-10-01",
  "filing_date": "2026-03-27",
  "carried_forward": false,
  "raum_total": 54452002823.0,
  "raum_discretionary": 54452002823.0,
  "raum_non_discretionary": 0.0,
  "raum_band": "over_5b",
  "raum_band_label": "Over $5 billion",
  "total_employees": 219,
  "advisory_employees": 40,
  "client_count_bucket": null,
  "clients_by_type": {
    "other": {
      "raum": 782122844.0,
      "count": 22,
      "description": "ACCOUNTS OF THE ADVISER"
    },
    "charitable": {
      "raum": 5075149.0,
      "count": 8
    },
    "individuals": {
      "raum": 864403976.0,
      "count": 300
    },
    "banking_thrift": {
      "raum": 0.0,
      "count": 0
    },
    "state_municipal": {
      "raum": 0.0,
      "count": 0
    },
    "insurance_companies": {
      "raum": 0.0,
      "count": 0
    },
    "investment_companies": {
      "raum": 49531118540.0,
      "count": 25
    },
    "pension_profit_sharing": {
      "raum": null,
      "count": 0
    },
    "other_investment_advisers": {
      "raum": 42589080.0,
      "count": 6
    },
    "high_net_worth_individuals": {
      "raum": 385811091.0,
      "count": 187
    },
    "pooled_investment_vehicles": {
      "raum": 2501977494.0,
      "count": 35
    },
    "corporations_other_businesses": {
      "raum": 338904649.0,
      "count": 52
    },
    "business_development_companies": {
      "raum": 0.0,
      "count": 0
    },
    "sovereign_wealth_foreign_official": {
      "raum": 0.0,
      "count": 0
    }
  },
  "compensation_types": [
    "percentage_of_aum"
  ],
  "advisory_activities": [
    "other",
    "portfolio_management_businesses_institutional",
    "portfolio_management_individuals",
    "portfolio_management_investment_companies",
    "portfolio_management_pooled_vehicles"
  ],
  "wrap_fee_participant": true,
  "disclosure_yes_count": 1,
  "states_registered": [
    "AK",
    "AL",
    "AR",
    "AZ",
    "CA",
    "CO",
    "CT",
    "DC",
    "DE",
    "FL",
    "GA",
    "HI",
    "IA",
    "ID",
    "IL",
    "IN",
    "KS",
    "KY",
    "LA",
    "MA",
    "MD",
    "ME",
    "MI",
    "MN",
    "MO",
    "MS",
    "MT",
    "NC",
    "ND",
    "NE",
    "NH",
    "NJ",
    "NM",
    "NV",
    "NY",
    "OH",
    "OK",
    "OR",
    "PA",
    "PR",
    "RI",
    "SC",
    "SD",
    "TN",
    "TX",
    "UT",
    "VA",
    "VI",
    "VT",
    "WA",
    "WI",
    "WV",
    "WY"
  ],
  "websites": [
    "https://facebook.com/THORNBURGFUNDS",
    "https://instagram.com/thornburgfunds",
    "https://linkedin.com/COMPANY/THORNBURG-INVESTMENT-MANAGEMENT",
    "https://thornburg.com",
    "https://x.com/THORNBURGFUNDS",
    "https://youtube.com/@thornburgfunds"
  ],
  "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106357",
  "disclosure_items": [
    {
      "item": "11.D(2)",
      "question": "Has another federal regulator, a state regulator, or a foreign financial regulator ever found that the firm or an advisory affiliate was involved in a violation of investment-related regulations or statutes?"
    }
  ],
  "city_as_filed": "SANTA FE",
  "url": "https://advisorcensus.com/firm/thornburg-investment-management-inc-santa-fe-nm-106357",
  "display_name": "Thornburg Investment Management Inc",
  "summary": "Thornburg Investment Management Inc is an SEC-registered investment advisory firm in Santa Fe, NM, registered since 1982, reporting over $5 billion in regulatory assets under management in its Form ADV filing dated March 27, 2026.",
  "citation": "AdvisorCensus. Thornburg Investment Management Inc (CRD 106357): Form ADV filing data as of October 2026.",
  "registration_type_label": "SEC-registered investment adviser",
  "compensation_labels": [
    "A percentage of assets under your management"
  ],
  "advisory_activity_labels": [
    "Portfolio management for individuals and/or small businesses",
    "Portfolio management for investment companies (and business development companies)",
    "Portfolio management for pooled investment vehicles (other than investment companies)",
    "Portfolio management for businesses (other than small businesses) or institutional clients",
    "Other"
  ],
  "quick_answers": [
    {
      "q": "How is Thornburg Investment Management Inc compensated?",
      "a": "On its Form ADV (Item 5.E, October 2026), Thornburg Investment Management Inc reports these compensation arrangements: a percentage of assets under its management. The amounts are in Item 5 of its Form ADV Part 2A brochure."
    },
    {
      "q": "Where is Thornburg Investment Management Inc located?",
      "a": "Thornburg Investment Management Inc's principal office is in Santa Fe, NM, according to its Form ADV."
    },
    {
      "q": "Is Thornburg Investment Management Inc registered with the SEC or a state?",
      "a": "Thornburg Investment Management Inc is an SEC-registered investment advisory firm, registered since 1982. Status as filed: Approved. CRD 106357."
    },
    {
      "q": "How much does Thornburg Investment Management Inc manage?",
      "a": "Thornburg Investment Management Inc reports $54,452,002,823 in regulatory assets under management in its Form ADV filing dated March 27, 2026 (100% discretionary)."
    },
    {
      "q": "How have Thornburg Investment Management Inc's assets and staff changed since 2021?",
      "a": "In the Form ADV data for Thornburg Investment Management Inc: Regulatory assets under management: $43,583,549,685 in the October 2021 data and $54,452,002,823 in the October 2026 data, up 25%. Total employees: 194 in October 2021 and 219 in October 2026. Assets under management move with markets as well as with clients coming and going."
    },
    {
      "q": "What types of clients does Thornburg Investment Management Inc serve?",
      "a": "By number of clients on Form ADV Item 5.D: individuals (other than high net worth individuals) (300); high net worth individuals (187); corporations or other businesses not listed above (52)."
    },
    {
      "q": "Which custodians does Thornburg Investment Management Inc use?",
      "a": "Thornburg Investment Management Inc's most recent Form ADV filing (Schedule D, Section 5.K(3)) lists Charles Schwab, Pershing LLC, RBC Capital Markets, LLC and Sumitomo Mitsui Trust (Hong Kong) Limited as custodians holding 10% or more of its separately managed account assets."
    },
    {
      "q": "Does Thornburg Investment Management Inc report any disciplinary disclosures?",
      "a": "Reports 1 disclosure item on Form ADV Item 11: yes answers to 11.D(2) (another regulator's finding of a violation). Each question covers the firm and its advisory affiliates, and one event can produce several yes answers. The detail of any item is on the firm's SEC record: https://adviserinfo.sec.gov/firm/summary/106357"
    },
    {
      "q": "What changed in Thornburg Investment Management Inc's recent Form ADV filings?",
      "a": "In the April 2026 filing data: Employees performing advisory functions went from 41 to 40. Regulatory assets under management went from $45,288,445,586 to $54,452,002,823 (+20%)."
    }
  ],
  "filing_history": [
    {
      "period": "2021-10-01",
      "regulatory_assets_under_management": 43583549685.0,
      "total_employees": 194,
      "filing_date": "2021-05-21"
    },
    {
      "period": "2022-10-01",
      "regulatory_assets_under_management": 47059818550.0,
      "total_employees": 203,
      "filing_date": "2022-03-31"
    },
    {
      "period": "2023-10-01",
      "regulatory_assets_under_management": 38735282461.0,
      "total_employees": 204,
      "filing_date": "2023-10-04"
    },
    {
      "period": "2024-10-01",
      "regulatory_assets_under_management": 41832394631.0,
      "total_employees": 202,
      "filing_date": "2024-07-24"
    },
    {
      "period": "2025-10-01",
      "regulatory_assets_under_management": 45288445586.0,
      "total_employees": 219,
      "filing_date": "2025-04-23"
    },
    {
      "period": "2026-10-01",
      "regulatory_assets_under_management": 54452002823.0,
      "total_employees": 219,
      "filing_date": "2026-03-27"
    }
  ],
  "recent_changes": [
    {
      "period": "2026-04-01",
      "period_label": "April 2026",
      "notes": [
        "Employees performing advisory functions went from 41 to 40.",
        "Regulatory assets under management went from $45,288,445,586 to $54,452,002,823 (+20%)."
      ]
    },
    {
      "period": "2025-12-01",
      "period_label": "December 2025",
      "notes": [
        "Updated its list of owners and control persons (Schedule A)."
      ]
    }
  ],
  "fees_from_brochure": null,
  "custodians": [
    {
      "name": "Charles Schwab",
      "name_as_filed": "CHARLES SCHWAB",
      "affiliated": false
    },
    {
      "name": "Pershing LLC",
      "name_as_filed": "PERSHING LLC",
      "affiliated": false
    },
    {
      "name": "RBC Capital Markets, LLC",
      "name_as_filed": "RBC CAPITAL MARKETS, LLC",
      "affiliated": false
    },
    {
      "name": "Sumitomo Mitsui Trust (Hong Kong) Limited",
      "name_as_filed": "SUMITOMO MITSUI TRUST (HONG KONG) LIMITED",
      "affiliated": false
    }
  ],
  "custodians_note": "Custodians holding 10% or more of the firm's separately managed account assets, as filed on Form ADV (Schedule D, Section 5.K(3)). A custodian holds client assets; it does not endorse or supervise the firm. AdvisorCensus has no relationship with any custodian.",
  "markdown_url": "https://advisorcensus.com/firm/thornburg-investment-management-inc-santa-fe-nm-106357.md",
  "clients": [
    {
      "type": "individuals",
      "label": "Individuals (other than high net worth individuals)",
      "count": 300,
      "fewer_than_5": false,
      "raum": 864403976.0
    },
    {
      "type": "high_net_worth_individuals",
      "label": "High net worth individuals",
      "count": 187,
      "fewer_than_5": false,
      "raum": 385811091.0
    },
    {
      "type": "banking_thrift",
      "label": "Banking or thrift institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "investment_companies",
      "label": "Investment companies",
      "count": 25,
      "fewer_than_5": false,
      "raum": 49531118540.0
    },
    {
      "type": "business_development_companies",
      "label": "Business development companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "pooled_investment_vehicles",
      "label": "Pooled investment vehicles (other than investment companies and business development companies)",
      "count": 35,
      "fewer_than_5": false,
      "raum": 2501977494.0
    },
    {
      "type": "pension_profit_sharing",
      "label": "Pension and profit sharing plans (but not the plan participants or government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": null
    },
    {
      "type": "charitable",
      "label": "Charitable organizations",
      "count": 8,
      "fewer_than_5": false,
      "raum": 5075149.0
    },
    {
      "type": "state_municipal",
      "label": "State or municipal government entities (including government pension plans)",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "other_investment_advisers",
      "label": "Other investment advisers",
      "count": 6,
      "fewer_than_5": false,
      "raum": 42589080.0
    },
    {
      "type": "insurance_companies",
      "label": "Insurance companies",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "sovereign_wealth_foreign_official",
      "label": "Sovereign wealth funds and foreign official institutions",
      "count": 0,
      "fewer_than_5": false,
      "raum": 0.0
    },
    {
      "type": "corporations_other_businesses",
      "label": "Corporations or other businesses not listed above",
      "count": 52,
      "fewer_than_5": false,
      "raum": 338904649.0
    },
    {
      "type": "other",
      "label": "Other",
      "count": 22,
      "fewer_than_5": false,
      "raum": 782122844.0
    }
  ],
  "disclosure_line": "Reports 1 disclosure item on Form ADV Item 11.",
  "indexable": true,
  "suppressed": false,
  "claimed": false,
  "enhanced": false,
  "provided_by_the_firm": null,
  "source": {
    "name": "Form ADV",
    "as_of": "2026-10-01",
    "iapd_url": "https://adviserinfo.sec.gov/firm/summary/106357",
    "operator": "BH Monitor Services, LLC",
    "license": "https://creativecommons.org/licenses/by/4.0/",
    "credit": "AdvisorCensus (advisorcensus.com), from SEC Form ADV data"
  }
}