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Thornburg Investment Management Portfolio holdings

AUM $9.63B
1-Year Est. Return 35.65%
This Fund
S&P 500
This Quarter Est. Return
+3.79%
1 Year Est. Return
+35.65%
3 Year Est. Return
+112.18%
5 Year Est. Return
+128.98%
10 Year Est. Return
+499.61%
AUM
$20B
AUM Growth
-$2.17B
Cap. Flow
-$2.61B
Cap. Flow %
-13.06%
Top 10 Hldgs %
21.9%
Holding
346
New
34
Increased
82
Reduced
153
Closed
43

Top Buys

Rank Stock Value
1
IBN icon
ICICI Bank
IBN
+$178M
2
UPS icon
United Parcel Service
UPS
+$174M
3
CCI icon
Crown Castle
CCI
+$174M
4
ITUB icon
Itaú Unibanco
ITUB
+$170M
5
NLSN
Nielsen Holdings plc
NLSN
+$151M

Top Sells

Rank Stock Value
1
ACN icon
Accenture
ACN
+$362M
2
MA icon
Mastercard
MA
+$297M
3
AGN
Allergan plc
AGN
+$261M
4
SLB icon
SLB Ltd
SLB
+$146M
5
TSM icon
TSMC
TSM
+$143M

Sector Composition

Rank Sector Weight
1 Financials 18.18%
2 Communication Services 13.48%
3 Healthcare 10.68%
4 Technology 9.95%
5 Consumer Discretionary 9.48%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JPM icon
1
JPMorgan Chase
JPM
$950B
$741M 3.7%
11,835,885
-151,538
-1% -$9.12M
RDS.A
2
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$542M 2.71%
8,667,959
+2,149,625
+33% +$139M
LBTYK icon
3
Liberty Global Class C
LBTYK
$3.49B
$457M 2.29%
11,689,605
-3,300,459
-22% -$121M
BIDU icon
4
Baidu
BIDU
$37.2B
$451M 2.25%
1,977,429
-383,960
-16% -$88M
BABA icon
5
Alibaba
BABA
$308B
$439M 2.2%
4,223,622
-466,730
-10% -$47.9M
CME icon
6
CME Group
CME
$94.8B
$391M 1.96%
4,414,118
+772,808
+21% +$65.5M
AMX icon
7
America Movil
AMX
$71.2B
$379M 1.9%
17,085,627
-19,789
-0.1% -$461K
VOD icon
8
Vodafone
VOD
$37.4B
$351M 1.76%
10,276,474
+817,701
+9% +$27.6M
PRGO icon
9
Perrigo
PRGO
$1.78B
$318M 1.59%
1,901,953
+69,922
+4% +$10.9M
NXPI icon
10
NXP Semiconductors
NXPI
$60.4B
$310M 1.55%
4,063,835
-338,800
-8% -$24M
TSM icon
11
TSMC
TSM
$2.18T
$310M 1.55%
13,847,909
-6,558,633
-32% -$143M
HD icon
12
Home Depot
HD
$355B
$308M 1.54%
2,938,504
+366,192
+14% +$35.6M
WBA
13
DELISTED
Walgreens Boots Alliance
WBA
$304M 1.52%
3,984,675
-903,954
-18% -$60.4M
INTC icon
14
Intel
INTC
$513B
$277M 1.38%
7,625,807
-551,297
-7% -$19.2M
GILD icon
15
Gilead Sciences
GILD
$165B
$273M 1.37%
2,898,695
-608,190
-17% -$62.9M
SLB icon
16
SLB Ltd
SLB
$75B
$273M 1.37%
3,197,779
-1,582,037
-33% -$146M
SPLS
17
DELISTED
Staples Inc
SPLS
$265M 1.33%
14,648,724
-1,679,572
-10% -$23.4M
VIV icon
18
Telefônica Brasil
VIV
$19.2B
$264M 1.32%
14,937,017
+5,633,192
+61% +$107M
AGN
19
DELISTED
Allergan plc
AGN
$262M 1.31%
1,018,647
-1,043,235
-51% -$261M
QCOM icon
20
Qualcomm
QCOM
$176B
$242M 1.21%
3,258,279
-247,761
-7% -$18.1M
PFE icon
21
Pfizer
PFE
$153B
$238M 1.19%
8,037,397
-485,032
-6% -$13.9M
MFA
22
MFA Financial
MFA
$933M
$221M 1.11%
6,913,289
+325,586
+5% +$10.7M
AAPL icon
23
Apple
AAPL
$4.57T
$214M 1.07%
7,765,392
-2,609,976
-25% -$71M
KMI icon
24
Kinder Morgan
KMI
$68.7B
$208M 1.04%
4,908,467
+257,848
+6% +$10.2M
LO
25
DELISTED
LORILLARD INC COM STK
LO
$207M 1.04%
3,292,620
-299,318
-8% -$18.5M
1
2 3 4 5

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CCMT
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LAMI
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BAMF
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Thornburg Investment Management's Q4 2014 Portfolio in Review

As of Q4 2014, Thornburg Investment Management held 346 positions worth $20B, down 9.8% from $22.2B the previous quarter. Its ten largest holdings account for 22% of the portfolio.

Thornburg Investment Management withdrew a net $2.61B in Q4 2014, closing 43 positions and reducing 153 holdings. Its most notable exit was Accenture, an estimated $362M position sold in full.

By sector, the portfolio is most concentrated in Financials at 18% of assets, up from 16% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Thornburg Investment Management opened a new position in United Parcel Service worth $183M.

  • Thornburg Investment Management's largest Q4 2014 buy was United Parcel Service: 1,649,182 shares worth $183M.
  • Thornburg Investment Management added most to ICICI Bank in Q4 2014, an estimated $178M increase.
  • Thornburg Investment Management's biggest Q4 2014 reduction was Mastercard, cutting an estimated $297M.
  • Thornburg Investment Management fully exited Accenture in Q4 2014, selling an estimated $362M.
  • Thornburg Investment Management's ten largest holdings make up 22% of its $20B portfolio in Q4 2014.
  • Thornburg Investment Management opened 34 new positions and closed 43 in Q4 2014.
  • Thornburg Investment Management's portfolio value fell 9.8% quarter-over-quarter to $20B.

Based on Thornburg Investment Management's 13F filing for Q4 2014, filed 11 Feb 2015.