Balyasny group discloses 7.1M-share TXNM Energy (TXNM) position in Schedule 13G/A

Rhea-AI Filing Summary

Balyasny-related entities report a significant passive stake in TXNM Energy, Inc. Balyasny Asset Management L.P. and affiliated entities, including BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny, report beneficial ownership of 7,113,061 shares of TXNM Energy common stock.

This holding represents approximately 6.43% of the common shares, based on 110,707,257 shares outstanding as of April 24, 2026. The shares are held directly by Atlas Diversified Master Fund, Ltd., a Cayman Islands exempted company and investment management client of Balyasny Asset Management. Each reporting person is deemed to have sole voting and dispositive power over these shares.

Key Figures

Shares beneficially owned: 7,113,061 shares Ownership percentage: 6.43% Shares outstanding baseline: 110,707,257 shares +2 more

5 metrics

Shares beneficially owned 7,113,061 shares Common Stock of TXNM Energy, Inc. reported by the Balyasny group

Ownership percentage 6.43% Approximate percent of TXNM Energy common stock class beneficially owned

Shares outstanding baseline 110,707,257 shares TXNM Energy shares outstanding as of April 24, 2026

Sole voting power 7,113,061 shares Shares over which each reporting person has sole power to vote

Sole dispositive power 7,113,061 shares Shares over which each reporting person has sole power to dispose

Key Terms

beneficial owner, sole voting power, sole dispositive power, Investment Company Act of 1940, +1 more

5 terms

beneficial owner financial

"Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 6.43%"

A beneficial owner is the person who ultimately owns or controls a financial asset or property, even if their name isn't directly on official documents. Think of it like someone who secretly holds the keys to a safe deposit box—others may appear to have access, but the true owner is the one who benefits from what's inside. Identifying beneficial owners helps ensure transparency and prevent illegal activities like money laundering or fraud.

sole voting power financial

"Each of the Reporting Persons has the sole power to vote or to direct the vote of 7,113,061 shares."

Sole voting power is the exclusive right to cast votes attached to a shareholder’s stock without needing approval from anyone else. Like holding the only remote control for a TV, it lets that holder decide corporate matters such as board members, mergers, and policy changes, making it important to investors because it concentrates control and can strongly influence a company’s strategy and the value of its shares.

sole dispositive power financial

"Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 7,113,061 shares."

Sole dispositive power is the exclusive legal authority to decide what happens to a security — for example, whether to sell, transfer, or retain shares — without needing anyone else’s permission. Investors care because it signals who truly controls the economic outcome of an investment: like holding the only key to a safe, the holder can realize gains or losses and may trigger regulatory reporting, insider rules, or influence over corporate ownership.

Investment Company Act of 1940 financial

"A listing of the shareholders of an investment company registered under the Investment Company Act of 1940"

A U.S. federal law that sets the rulebook for pooled investment vehicles such as mutual funds, exchange-traded funds and similar money managers, requiring them to register with regulators, disclose holdings and fees, limit conflicts of interest, and follow governance standards. It matters to investors because these protections and transparency rules act like a referee and scoreboard, helping people compare funds, trust that managers follow fair practices, and spot hidden costs or risks.

exempted company financial

"ADMF is a Cayman Islands exempted company that is an investment management client of BAM"

FAQ

What percentage of TXNM Energy (TXNM) does Balyasny Asset Management report owning?

Balyasny Asset Management and affiliated entities report beneficial ownership of approximately 6.43% of TXNM Energy’s common stock, based on 110,707,257 shares outstanding as of April 24, 2026, as referenced in the issuer’s quarterly report.

How many TXNM Energy (TXNM) shares are reported by Balyasny Asset Management?

The reporting group discloses beneficial ownership of 7,113,061 shares of TXNM Energy common stock. These shares are held directly by Atlas Diversified Master Fund, Ltd., a Cayman Islands exempted company and investment management client of Balyasny Asset Management.

Who are the reporting persons in the TXNM Energy (TXNM) Schedule 13G/A?

The reporting persons are Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings LP, Dames GP LLC, and Dmitry Balyasny. They are related through a general partner and holding-company structure with Balyasny as managing member of Dames.

What voting and dispositive powers are reported over TXNM Energy (TXNM) shares?

Each reporting person has sole power to vote, or direct the vote of, 7,113,061 shares and sole power to dispose, or direct the disposition of, the same number of shares. They report no shared voting or dispositive power.

Who directly holds the TXNM Energy (TXNM) shares managed by Balyasny Asset Management?

The 7,113,061 TXNM Energy shares are held directly by Atlas Diversified Master Fund, Ltd. (ADMF), a Cayman Islands exempted company. ADMF, as an investment management client of Balyasny Asset Management, has the right to receive dividends and sale proceeds from these securities.

On what date is TXNM Energy (TXNM) shares-outstanding figure based in this filing?

The reported 6.43% ownership of TXNM Energy common stock is calculated using 110,707,257 shares outstanding as of April 24, 2026, a figure taken from the issuer’s Form 10-Q filed on May 1, 2026.

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Available on EDGAR 08/14/2026 - 06:10 AM Accepted by SEC EDGAR 08/14/2026 - 06:10 AM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

TXNM Energy, Inc.

(Name of Issuer)

Common Stock

(Title of Class of Securities)

69349H107

(CUSIP Number)

06/30/2026

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

schemaVersion:

SCHEDULE 13G

CUSIP Number(s): 69349H107

1

Names of Reporting Persons

BALYASNY ASSET MANAGEMENT L.P.

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,113,061.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,113,061.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,113,061.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

IA, PN

SCHEDULE 13G

CUSIP Number(s): 69349H107

1

Names of Reporting Persons

BAM GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,113,061.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,113,061.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,113,061.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP Number(s): 69349H107

1

Names of Reporting Persons

Balyasny Asset Management Holdings LP

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,113,061.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,113,061.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,113,061.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

HC, PN

SCHEDULE 13G

CUSIP Number(s): 69349H107

1

Names of Reporting Persons

Dames GP LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,113,061.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,113,061.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,113,061.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

HC, OO

SCHEDULE 13G

CUSIP Number(s): 69349H107

1

Names of Reporting Persons

Dmitry Balyasny

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

UNITED STATES

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 7,113,061.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 7,113,061.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

7,113,061.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

6.43 %

12

Type of Reporting Person (See Instructions)

HC, IN

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TXNM Energy, Inc.
(b)	Address of issuer's principal executive offices: 414 Silver Ave. SW, Albuquerque, New Mexico 87102
Item 2.
(a)	Name of person filing: This statement is being filed by (1) Balyasny Asset Management L.P., a Delaware limited partnership ("BAM"), (2) BAM GP LLC, a Delaware limited liability company ("BAM GP"), (3) Balyasny Asset Management Holdings LP, a Delaware limited partnership ("BAM Holdings"), (4) Dames GP LLC, a Delaware limited liability company ("Dames"), and (5) Dmitry Balyasny, a United States citizen (collectively, the "Reporting Persons"). BAM GP is the General Partner of BAM. BAM Holdings is the Sole Member of BAM GP. Dames is the General Partner of BAM Holdings. Dmitry Balyasny is the Managing Member of Dames.
(b)	Address or principal business office or, if none, residence: The principal business address of each of BAM, BAM GP, BAM Holdings, Dames, and Mr. Balyasny is located at 444 West Lake Street, 50th Floor, Chicago, IL 60606.
(c)	Citizenship: (1) BAM is a Delaware limited partnership, (2) BAM GP is a Delaware limited liability company, (3) BAM Holdings is a Delaware limited partnership, (4) Dames is a Delaware limited liability company, and (5) Mr. Balyasny is a United States citizen.
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 69349H107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: By virtue of its position as the investment manager of Atlas Diversified Master Fund, Ltd. ("ADMF"), the direct holder of the 7,133,061 shares of Common Stock, no par value ("Shares"), reported herein, BAM may be deemed to exercise voting and investment power over such Shares held by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM, BAM GP may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the Sole Member of BAM GP, BAM Holdings may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of its position as the General Partner of BAM Holdings, Dames may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares. By virtue of his position as the Managing Member of Dames, Mr. Balyasny may be deemed to exercise voting and investment power over the Shares held directly by ADMF and thus may be deemed to beneficially own such Shares.
(b)	Percent of class: Each of the Reporting Persons may be deemed to be the beneficial owner of approximately 6.43% of the Shares, based on 110,707,257 Shares outstanding as of April 24, 2026 as reported in the Issuer's 10-Q filed with the Securities and Exchange Commission on May 1, 2026.
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: Each of the Reporting Persons has the sole power to vote or to direct the vote of 7,113,061 shares.
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: Each of the Reporting Persons has the sole power to dispose or to direct the disposition of 7,113,061 shares.
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Not Applicable
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. ADMF is a Cayman Islands exempted company that is an investment management client of BAM, and has the right to receive dividends from, or the proceeds from the sale of, the reported securities.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	Not Applicable
Item 8.	Identification and Classification of Members of the Group.
	Not Applicable
Item 9.	Notice of Dissolution of Group.
	Not Applicable

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under § 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

BALYASNY ASSET MANAGEMENT L.P.

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

BAM GP LLC

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Balyasny Asset Management Holdings LP

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Dames GP LLC

Signature:	/s/ Scott Schroeder
Name/Title:	Scott Schroeder / Authorized Signatory
Date:	08/14/2026

Dmitry Balyasny

Signature:	/s/ Dmitry Balyasny
Name/Title:	Dmitry Balyasny / Self
Date:	08/14/2026