Vanguard disaggregates holdings; TXNM Energy (NASDAQ: TXNM) reports 0% parent stake

Rhea-AI Filing Summary

TXNM Energy Inc received an amended Schedule 13G/A filing from The Vanguard Group reporting that, following an internal realignment, Vanguard disaggregated certain subsidiaries and now reports 0 shares beneficially owned and 0% of the class. The filing notes the internal realignment on January 12, 2026 and is signed by Vanguard's Head of Global Fund Administration on March 27, 2026.

Insights

Institutional Ownership Analyst

Vanguard's amendment reflects reporting structure changes, not a market transaction.

The Vanguard Group states it disaggregated beneficial ownership among subsidiaries after an internal realignment on January 12, 2026. The filing reports 0 shares and 0% beneficial ownership for the named filer, indicating holdings previously reported under the parent are now reported separately by affiliates.

Cash‑flow treatment and aggregate subsidiary holdings are not provided in the excerpt; subsequent filings from the individual Vanguard subsidiaries will show the redistributed positions.

Securities Compliance Specialist

The amendment is a compliance disclosure under SEC Release No. 34-39538, not a change in beneficial ownership economics.

The document cites SEC Release No. 34-39538 as the basis for disaggregating reports when subsidiaries report separately. The signer is identified as Ashley Grim, Head of Global Fund Administration, dated March 27, 2026.

Filing recipients should watch for separate 13G/A entries from Vanguard affiliates to see where prior parent-level holdings are now reported.

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 15)

TXNM Energy Inc

(Name of Issuer)

Common Stock

(Title of Class of Securities)

69349H107

(CUSIP Number)

03/13/2026

(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

The Vanguard Group

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

PENNSYLVANIA

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 0.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 0.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

0.00

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)

0 %

12

Type of Reporting Person (See Instructions)

IA

Comment for Type of Reporting Person: On January 12, 2026, The Vanguard Group, Inc. went through an internal realignment. In accordance with SEC Release No. 34-39538 (January 12, 1998), certain subsidiaries or business divisions of subsidiaries of The Vanguard Group, Inc., that formerly had, or were deemed to have, beneficial ownership with The Vanguard Group, Inc., will report beneficial ownership separately (on a disaggregated basis) from The Vanguard Group, Inc. in reliance on such release. These subsidiaries and/or business divisions pursue the same investment strategies as previously pursued by The Vanguard Group, Inc. prior to the realignment. Further in accordance with SEC Release No. 34-39538 (January 12, 1998), The Vanguard Group, Inc. no longer has, or is deemed to have, beneficial ownership over securities beneficially owned by such subsidiaries and/or business divisions.

SCHEDULE 13G

Item 1.
(a)	Name of issuer: TXNM Energy Inc
(b)	Address of issuer's principal executive offices: 414 Silver Avenue Southwest, Albuquerque, NM, 87102
Item 2.
(a)	Name of person filing: The Vanguard Group
(b)	Address or principal business office or, if none, residence: 100 Vanguard Blvd.,, Malvern, PA, 19355
(c)	Citizenship: PA
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.:
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: 0
(b)	Percent of class: 0 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 0
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 0
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
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. The Vanguard Group, including investment companies registered under the Investment Company Act of 1940 and other managed accounts, have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, the securities reported herein.No one other person's interest in the securities reported herein is more than 5%.
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.

The Vanguard Group

Signature:	Ashley Grim
Name/Title:	Head of Global Fund Administration
Date:	03/27/2026

FAQ

What did The Vanguard Group report for TXNM in this Schedule 13G/A amendment?

Vanguard reported it beneficially owns 0 shares and 0% of TXNM. The amendment explains Vanguard disaggregated holdings after an internal realignment on January 12, 2026, and the filing is dated March 27, 2026.

Why does Vanguard now report 0% ownership of TXNM (symbol TXNM)?

Because Vanguard disaggregated certain subsidiaries following an internal realignment. The filing cites SEC Release No. 34-39538 as the basis for separate subsidiary reporting and separated beneficial ownership disclosures.

Does this amendment indicate Vanguard sold TXNM shares?

No. The amendment documents a change in reporting structure under SEC guidance rather than a disclosed sale. It states subsidiaries now report separately; transaction details are not included in the excerpt.

Who signed the Schedule 13G/A amendment for Vanguard regarding TXNM?

The filing is signed by Ashley Grim, Head of Global Fund Administration, on March 27, 2026. The signature attests to the amendment's content and reporting change.

Where will I find the updated holdings previously reported by Vanguard for TXNM?

Holdings previously aggregated under The Vanguard Group are expected to appear in separate 13G/A filings from Vanguard subsidiaries or business divisions. Investors should review subsequent filings by those affiliates for specifics.