[SCHEDULE 13G] TXNM ENERGY INC Passive Investment Disclosure (>5%)
Balyasny Group Reports 7.13M Shares (6.55%) in TXNM
TXNM Energy, Inc. Schedule 13G reports that Balyasny Asset Management entities and Dmitry Balyasny together may be deemed to beneficially own 7,133,543 shares of Common Stock.
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
TXNM Energy, Inc. Schedule 13G reports that Balyasny Asset Management entities and Dmitry Balyasny together may be deemed to beneficially own 7,133,543 shares of Common Stock. The filing states this represents approximately 6.55% of the class based on 108,921,356 Shares outstanding as of February 13, 2026.
The reporting persons consist of Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings, Dames GP LLC, and Mr. Balyasny; ADMF is identified as the direct holder entitled to dividends or sale proceeds. The filing attributes voting and dispositive power to the listed reporting persons.
Insights
Large activist-style stake disclosed: 7,133,543 shares (6.55% of class).
The filing lists 7,133,543 shares as beneficially owned by reporting persons, tied to Atlas Diversified Master Fund, Ltd. and cites February 13, 2026 for the 108,921,356 shares outstanding anchor. This is a significant passive stake disclosure under Schedule 13G.
Ownership is reported via managerial and partnership relationships; cash-flow treatment names ADMF as the direct holder. Subsequent filings could clarify intent or conversions but timing not provided in the excerpt.
Voting and dispositive power routed through nested entities and a managing member.
The disclosure explains that BAM, BAM GP, BAM Holdings, Dames, and Dmitry Balyasny may be deemed to exercise voting and investment power over the same 7,133,543 shares. The filing names ADMF as the direct holder with rights to dividends and proceeds.
Legal attribution follows standard partnership control language; any change in voting intent or Schedule 13D filing would materially alter public governance signals and would appear in later SEC filings.
Key Figures
Reported shares beneficially owned:7,133,543 sharesPercent of class:6.55%Shares outstanding:108,921,356 shares+1 more
4 metrics
Reported shares beneficially owned7,133,543 sharesAmount held by ADMF as reported in Schedule 13G
Percent of class6.55%Percentage based on outstanding shares stated in the filing
Shares outstanding108,921,356 sharesShares outstanding as of <date>February 13, 2026</date>
CUSIP69349H107CUSIP for TXNM Common Stock as listed in the filing
"By virtue of its position as the investment manager ... BAM may be deemed to beneficially own such Shares"
Beneficially own means having the economic rights and risks of a security—such as the right to receive dividends, sell the shares, or profit from price changes—whether or not your name appears on the official share register. Think of it like renting a car: you use it and reap the benefits even if the title lists someone else. Investors care because beneficial ownership determines who truly controls value, must be disclosed under securities rules, and can signal potential influence or trading activity that affects a stock’s price.
Shared Dispositive Powerregulatory
"8 | Shared Dispositive Power 7,133,543.00"
Schedule 13Gregulatory
"Item 1. | (a) | Name of issuer: TXNM Energy, Inc."
A Schedule 13G is a formal document that investors file with the government when they acquire a large ownership stake in a company, usually for investment purposes rather than control. It helps keep the public informed about who owns significant parts of a company's shares, which can influence how the company is managed and how investors make decisions. Filing this schedule is important for transparency and understanding the ownership landscape of publicly traded companies.
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
What stake does Balyasny report in TXNM (TXNM)?
Balyasny reports beneficial ownership of 7,133,543 shares, equal to approximately 6.55% of the class. The percentage is calculated using 108,921,356 shares outstanding as of February 13, 2026 as stated in the filing.
Who is the direct holder of the reported TXNM shares?
The filing identifies Atlas Diversified Master Fund, Ltd. (ADMF) as the direct holder of the 7,133,543 shares. ADMF is described as an investment management client of BAM with rights to dividends and sale proceeds.
Which entities are listed as reporting persons for the TXNM filing?
The reporting persons are Balyasny Asset Management L.P., BAM GP LLC, Balyasny Asset Management Holdings, Dames GP LLC, and Dmitry Balyasny, with a shared principal business address in Chicago, IL.
Does the Schedule 13G indicate active control or intent to acquire TXNM?
The Schedule 13G reports beneficial ownership and states voting/dispositive power through the reporting entities. It does not in itself state an intent to acquire additional shares or active control; no timing or acquisition plan is included in the excerpt.
What voting and dispositive powers are reported for the TXNM shares?
Each reporting person is reported as having sole power to vote and sole power to dispose of 7,133,543 shares. Shared voting and shared dispositive power are reported as 0 in the filing.
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
SCHEDULE 13G
UNDER THE SECURITIES EXCHANGE ACT OF 1934
TXNM Energy, Inc.
(Name of Issuer)
Common Stock, no par value
(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
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
0.00
6
Shared Voting Power
7,133,543.00
7
Sole Dispositive Power
0.00
8
Shared Dispositive Power
7,133,543.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,133,543.00
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)
6.55 %
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
7,133,543.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,133,543.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,133,543.00
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)
6.55 %
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
7,133,543.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,133,543.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,133,543.00
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)
6.55 %
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
7,133,543.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,133,543.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,133,543.00
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)
6.55 %
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
7,133,543.00
6
Shared Voting Power
0.00
7
Sole Dispositive Power
7,133,543.00
8
Shared Dispositive Power
0.00
9
Aggregate Amount Beneficially Owned by Each Reporting Person
7,133,543.00
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)
6.55 %
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, no par value
(e)
CUSIP Number(s):
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 7,133,543 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 6.55% of the Shares, based on 108,921,356 Shares outstanding as of February 13, 2026 as reported in the Issuer's 10-K filed with the Securities and Exchange Commission on February, 27, 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 7,133,543 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 vote or to direct the vote of 7,133,543 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, a Cayman Islands exempted company that is an investment management client of BAM, 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.
