BlackRock boosts passive stake in TXNM Energy (TXNM) to 11.5%

Rhea-AI Filing Summary

BlackRock, Inc. reports beneficial ownership of 12,545,112 shares of TXNM ENERGY INC common stock, representing 11.5% of the class. The filing attributes sole voting power on 12,268,236 shares and sole dispositive power on 12,545,112 shares and states holdings reflect certain Reporting Business Units of BlackRock.

The Schedule 13G/A is an amended passive reporting statement signed by Spencer Fleming on 04/24/2026.

Insights

Institutional Ownership Analyst

BlackRock holds an 11.5% passive stake in TXNM Energy.

The filing shows BlackRock's Reporting Business Units beneficially own 12,545,112 shares, with sole voting power on 12,268,236 shares. As a Schedule 13G/A, this indicates passive investor reporting rather than an active acquisition intent.

Investor impact depends on future disclosures; subsequent amendments or a switch to a Schedule 13D would materially change the signal.

Key Figures

Beneficial ownership: 12,545,112 shares Percent of class: 11.5% Sole voting power: 12,268,236 shares

3 metrics

Beneficial ownership 12,545,112 shares Amount beneficially owned (Schedule 13G/A)

Percent of class 11.5% Percent of common stock class reported

Sole voting power 12,268,236 shares Sole power to vote or direct the vote

Key Terms

Schedule 13G/A, Beneficially owned, Sole dispositive power

3 terms

Schedule 13G/A regulatory

"reflects the securities beneficially owned, or deemed to be beneficially owned"

A Schedule 13G/A is an amended public filing with the U.S. securities regulator that updates a previous Schedule 13G, disclosing when an individual or group holds a substantial (typically over 5%) stake in a company and is claiming a passive, non‑controlling intent. Investors monitor these updates because rising or falling holdings can signal changing confidence, potential future moves, or shifts in voting power — like watching a public ledger where large shareholders quietly adjust their positions.

Beneficially owned financial

"Amount beneficially owned: 12545112"

Beneficially owned describes securities or assets where a person has the economic rights and control—such as the right to receive dividends and to direct voting—even if legal title is held in another name. Think of it like having the keys and using a car that’s registered to someone else: you get the benefits and make decisions. Investors care because beneficial ownership reveals who truly controls value and voting power, affecting corporate decisions and takeover dynamics.

Sole dispositive power regulatory

"Sole Dispositive Power 12,545,112.00"

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.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 04/24/2026 - 04:11 PM Learn about SEC filing dates

FAQ

What stake does BlackRock hold in TXNM (TXNM)?

BlackRock beneficially owns 12,545,112 shares of TXNM common stock, equal to 11.5% of the class. The filing attributes sole voting power on 12,268,236 shares and sole dispositive power on 12,545,112 shares.

Does the Schedule 13G/A indicate active acquisition by BlackRock?

No; a Schedule 13G/A typically signals passive ownership. The filing states these holdings reflect certain Reporting Business Units and follows passive reporting rules rather than an active intent to influence company control.

Who signed the amendment and when was it executed?

The filing is signed by Spencer Fleming, Managing Director, and dated 04/24/2026. The cover lists the statement as Amendment No. 18 to the Schedule 13G filing for TXNM Energy.

What voting and dispositive powers does BlackRock report?

BlackRock reports sole voting power over 12,268,236 shares and sole dispositive power over 12,545,112 shares. Shared voting and dispositive powers are reported as zero in the filing.

Will this filing trigger any immediate corporate action at TXNM?

The Schedule 13G/A is a disclosure of ownership and does not itself trigger corporate actions. Any change in control or activist intent would typically be reflected in a different filing, such as a Schedule 13D, if later submitted.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 18)

TXNM ENERGY INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

69349H107

(CUSIP Number)

03/31/2026

(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

BlackRock, Inc.

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 12,268,236.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 12,545,112.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

12,545,112.00

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)

11.5 %

12

Type of Reporting Person (See Instructions)

HC

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TXNM ENERGY INC
(b)	Address of issuer's principal executive offices: 414 SILVER AVE. SW ALBUQUERQUE NM 87102-3289
Item 2.
(a)	Name of person filing: BlackRock, Inc. In accordance with SEC Release No. 34-39538 (January 12, 1998), this Schedule 13G reflects the securities beneficially owned, or deemed to be beneficially owned, by certain business units (collectively, the "Reporting Business Units") of BlackRock, Inc. and its subsidiaries and affiliates. It does not include securities, if any, beneficially owned by other business units whose beneficial ownership of securities are disaggregated from that of the Reporting Business Units in accordance with such release.
(b)	Address or principal business office or, if none, residence: BlackRock, Inc., 50 Hudson Yards New York, NY 10001
(c)	Citizenship: See Item 4 of Cover Page
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 69349H107
Item 4.	Ownership
(a)	Amount beneficially owned: 12545112
(b)	Percent of class: 11.5 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 12268236
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 12545112
	(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. Various persons have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of the common stock of TXNM ENERGY INC. No one person's interest in the common stock of TXNM ENERGY INC is more than five percent of the total outstanding common shares.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. See Exhibit 99
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.

BlackRock, Inc.

Signature:	Spencer Fleming
Name/Title:	Managing Director
Date:	04/24/2026

Exhibit Information

Exhibit 24: Power of Attorney Exhibit 99: Item 7