v3.26.1
Schedule H, Line 4i – Schedule of Assets (Held At End of Year)
 12 Months Ended
Dec. 31, 2025
EBP 005  
EBP, Schedule of Asset Held for Investment [Line Items]  
Schedule H, Line 4i – Schedule of Assets (Held At End of Year)
Schedule I
TXNM Energy, Inc. Retirement Savings Plan
EIN 85-0468296, Plan No. 005
SCHEDULE H, LINE 4(i) - SCHEDULE OF ASSETS (HELD AT END OF YEAR)
December 31, 2025
Identity of IssueDescription of InvestmentCostFair Value
*Vanguard Wellington FundRegistered investment company**$109,716,721 
*Vanguard Index FundRegistered investment company**150,869,901 
*Vanguard Prime Money Market FundRegistered investment company**38,835,230 
*Vanguard Windsor II FundRegistered investment company**49,621,191 
Met West Total Ret Bond PRegistered investment company**56,493,552 
Victory Integrity Small/Mid-Cap Value Fund; YRegistered investment company**5,626,901 
PIMCO Inflation Response Multi-Asset Fund; Inst. ClassRegistered investment company**848,205 
*Vanguard Institutional Target Retirement IncomeCollective investment trust**23,893,582 
*Vanguard Institutional Target Retirement 2020Collective investment trust**11,605,047 
*Vanguard Institutional Target Retirement 2025Collective investment trust**42,682,421 
*Vanguard Institutional Target Retirement 2030Collective investment trust**20,165,462 
*Vanguard Institutional Target Retirement 2035Collective investment trust**53,316,802 
*Vanguard Institutional Target Retirement 2040Collective investment trust**18,562,789 
*Vanguard Institutional Target Retirement 2045Collective investment trust**56,684,210 
*Vanguard Institutional Target Retirement 2050Collective investment trust**20,465,469 
*Vanguard Institutional Target Retirement 2055Collective investment trust**14,778,077 
*Vanguard Institutional Target Retirement 2060Collective investment trust**10,198,422 
*Vanguard Institutional Target Retirement 2065Collective investment trust**3,637,149 
*Vanguard Institutional Target Retirement 2070Collective investment trust**654,975 
Allspring Discovery Small/Mid-Cap Growth CIT; Class E1Collective investment trust**11,392,299 
JPMCB Large Cap Growth Fund; CF-2 ClassCollective investment trust**82,625,315 
Acadian All Country World ex US EquityCollective investment trust**60,665,284 
*Vanguard Retirement Savings Trust IIICollective investment trust**38,626,876 
*TXNM Energy, Inc. Common Stock FundCompany stock**6,990,503 
Total888,956,383 
*Notes receivable from participants
5.75% - 11.0%, maturing through July 2034
**7,090,775 
$896,047,158 
*
Represents a party-in-interest.
**Participant-directed investment, cost not required.