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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
+3.26%
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
$15.7B
AUM Growth
-$201M
Cap. Flow
-$487M
Cap. Flow %
-3.09%
Top 10 Hldgs %
25.82%
Holding
316
New
39
Increased
84
Reduced
137
Closed
23

Top Buys

Rank Stock Value
1
KSU
Kansas City Southern
KSU
+$113M
2
MRK icon
Merck
MRK
+$107M
3
LVS icon
Las Vegas Sands
LVS
+$94.7M
4
FCX icon
Freeport-McMoran
FCX
+$89.9M
5
BIDU icon
Baidu
BIDU
+$88.2M

Top Sells

Rank Stock Value
1
TSM icon
TSMC
TSM
+$206M
2
AGN
Allergan plc
AGN
+$153M
3
CME icon
CME Group
CME
+$127M
4
APTV icon
Aptiv
APTV
+$103M
5
VOD icon
Vodafone
VOD
+$91.5M

Sector Composition

Rank Sector Weight
1 Financials 20.36%
2 Communication Services 11.03%
3 Healthcare 10.83%
4 Real Estate 9.73%
5 Consumer Discretionary 9.64%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CME icon
1
CME Group
CME
$94.8B
$847M 5.38%
9,343,450
-1,352,872
-13% -$127M
JPM icon
2
JPMorgan Chase
JPM
$950B
$707M 4.49%
10,713,946
-596,900
-5% -$38.9M
HD icon
3
Home Depot
HD
$355B
$445M 2.83%
3,367,555
-266,900
-7% -$34M
T icon
4
AT&T
T
$163B
$405M 2.57%
15,571,727
+632,872
+4% +$16.1M
RDS.A
5
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$310M 1.97%
7,134,664
-430,146
-6% -$20.5M
LBTYK icon
6
Liberty Global Class C
LBTYK
$3.49B
$300M 1.91%
8,484,278
-362,638
-4% -$13.1M
WBA
7
DELISTED
Walgreens Boots Alliance
WBA
$288M 1.83%
3,381,986
– –
TGT icon
8
Target
TGT
$68B
$264M 1.67%
3,630,609
-126,321
-3% -$9.43M
AGN
9
DELISTED
Allergan plc
AGN
$251M 1.59%
803,368
-515,178
-39% -$153M
MRK icon
10
Merck
MRK
$318B
$249M 1.58%
4,940,140
+2,131,213
+76% +$107M
NXPI icon
11
NXP Semiconductors
NXPI
$60.4B
$247M 1.57%
2,933,635
-13,356
-0.5% -$1.14M
AER icon
12
AerCap
AER
$23.8B
$245M 1.56%
5,679,201
+26,497
+0.5% +$1.11M
MFA
13
MFA Financial
MFA
$933M
$234M 1.49%
8,862,623
+448,057
+5% +$12.4M
PFE icon
14
Pfizer
PFE
$153B
$225M 1.43%
7,353,392
+234,593
+3% +$7.38M
CCI icon
15
Crown Castle
CCI
$32.2B
$208M 1.32%
2,401,157
-321,600
-12% -$27.3M
APTV icon
16
Aptiv
APTV
$10.3B
$206M 1.31%
2,402,715
-1,229,476
-34% -$103M
AAPL icon
17
Apple
AAPL
$4.57T
$201M 1.28%
7,649,992
-169,740
-2% -$4.85M
ARCC icon
18
Ares Capital
ARCC
$14.4B
$201M 1.28%
14,087,116
+500,000
+4% +$7.59M
IVR icon
19
Invesco Mortgage Capital
IVR
$805M
$196M 1.25%
1,585,542
– –
LVS icon
20
Las Vegas Sands
LVS
$29.6B
$186M 1.18%
4,251,331
+2,082,504
+96% +$94.7M
TWO
21
Two Harbors Investment
TWO
$1.27B
$183M 1.16%
2,824,329
+277,257
+11% +$18.9M
LVLT
22
DELISTED
Level 3 Communications Inc
LVLT
$180M 1.14%
3,310,748
-73,546
-2% -$3.68M
QCOM icon
23
Qualcomm
QCOM
$176B
$178M 1.13%
3,565,164
-9,779
-0.3% -$522K
BX icon
24
Blackstone
BX
$110B
$177M 1.12%
6,053,594
+1,085,058
+22% +$34.6M
KKR icon
25
KKR & Co
KKR
$92.3B
$176M 1.12%
11,297,436
+1,290,865
+13% +$22.1M
1
2 3 4 5

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SC
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TCA
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CCMT
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LAMI
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DCP
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BAMF
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HL
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FCM
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Thornburg Investment Management's Q4 2015 Portfolio in Review

As of Q4 2015, Thornburg Investment Management held 316 positions worth $15.7B, down 1.3% from $15.9B the previous quarter. Its ten largest holdings account for 26% of the portfolio.

Thornburg Investment Management withdrew a net $487M in Q4 2015, closing 23 positions and reducing 137 holdings. Its most notable exit was Vodafone, an estimated $91.5M position sold in full.

By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 20% a quarter earlier, followed by Communication Services and Healthcare.

Against the trend, Thornburg Investment Management opened a new position in Perrigo worth $73M.

  • Thornburg Investment Management's largest Q4 2015 buy was Perrigo: 504,434 shares worth $73M.
  • Thornburg Investment Management added most to Kansas City Southern in Q4 2015, an estimated $113M increase.
  • Thornburg Investment Management's biggest Q4 2015 reduction was TSMC, cutting an estimated $206M.
  • Thornburg Investment Management fully exited Vodafone in Q4 2015, selling an estimated $91.5M.
  • Thornburg Investment Management's ten largest holdings make up 26% of its $15.7B portfolio in Q4 2015.
  • Thornburg Investment Management opened 39 new positions and closed 23 in Q4 2015.
  • Thornburg Investment Management's portfolio value fell 1.3% quarter-over-quarter to $15.7B.

Based on Thornburg Investment Management's 13F filing for Q4 2015, filed 9 Feb 2016.