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Thornburg Investment Management Portfolio holdings

AUM $10.5B
1-Year Est. Return 30.38%
This Fund
S&P 500
This Quarter Est. Return
+1.42%
1 Year Est. Return
+30.38%
3 Year Est. Return
+116.63%
5 Year Est. Return
+136.23%
10 Year Est. Return
+451.75%
AUM
$12.9B
AUM Growth
-$2.08B
Cap. Flow
-$2.1B
Cap. Flow %
-16.23%
Top 10 Hldgs %
27.56%
Holding
306
New
42
Increased
49
Reduced
141
Closed
46

Top Buys

Rank Stock Value
1
AGN
Allergan plc
AGN
+$226M
2
JD icon
JD.com
JD
+$206M
3
CF icon
CF Industries
CF
+$105M
4
BIDU icon
Baidu
BIDU
+$39.8M
5
WYNN icon
Wynn Resorts
WYNN
+$37.4M

Top Sells

Rank Stock Value
1
C icon
Citigroup
C
+$229M
2
NXPI icon
NXP Semiconductors
NXPI
+$197M
3
KSU
Kansas City Southern
KSU
+$168M
4
MA icon
Mastercard
MA
+$160M
5
HP icon
Helmerich & Payne
HP
+$156M

Sector Composition

Rank Sector Weight
1 Financials 18.58%
2 Healthcare 13.77%
3 Real Estate 12.05%
4 Consumer Discretionary 11.93%
5 Communication Services 11.02%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
JPM icon
1
JPMorgan Chase
JPM
$942B
$521M 4.03%
8,376,594
-1,987,916
-19% -$124M
RDS.A
2
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$437M 3.38%
8,339,334
+627,933
+8% +$30.3M
CME icon
3
CME Group
CME
$101B
$413M 3.19%
4,236,394
-584,300
-12% -$55.2M
AGN
4
DELISTED
Allergan plc
AGN
$397M 3.07%
1,717,844
+981,355
+133% +$226M
HD icon
5
Home Depot
HD
$328B
$380M 2.94%
2,976,155
-391,400
-12% -$51.8M
T icon
6
AT&T
T
$174B
$324M 2.51%
9,936,783
-3,819,343
-28% -$114M
MRK icon
7
Merck
MRK
$369B
$296M 2.29%
5,392,606
– –
TGT icon
8
Target
TGT
$75.4B
$270M 2.09%
3,873,509
+242,900
+7% +$18.1M
WBA
9
DELISTED
Walgreens Boots Alliance
WBA
$265M 2.05%
3,179,281
-238,183
-7% -$19.2M
APTV icon
10
Aptiv
APTV
$9.43B
$257M 1.99%
4,109,592
+419,390
+11% +$29.3M
MFA
11
MFA Financial
MFA
$896M
$244M 1.89%
8,382,185
-347,938
-4% -$9.79M
PFE icon
12
Pfizer
PFE
$160B
$237M 1.84%
7,105,808
-536,275
-7% -$17.1M
ARCC icon
13
Ares Capital
ARCC
$14.3B
$217M 1.68%
15,306,376
-11,719
-0.1% -$174K
TWO
14
DELISTED
Two Harbors Investment
TWO
$205M 1.59%
2,995,192
-73,462
-2% -$4.84M
VER
15
DELISTED
VEREIT, Inc.
VER
$204M 1.58%
4,014,226
-70,644
-2% -$3.33M
JD icon
16
JD.com
JD
$38.5B
$203M 1.57%
9,550,323
+8,524,505
+831% +$206M
MDLZ icon
17
Mondelez International
MDLZ
$79.7B
$201M 1.55%
4,407,222
-120,173
-3% -$5.24M
IVR icon
18
Invesco Mortgage Capital
IVR
$799M
$198M 1.54%
1,448,542
-137,000
-9% -$18.4M
BIDU icon
19
Baidu
BIDU
$32.9B
$193M 1.5%
1,169,582
+226,895
+24% +$39.8M
CCI icon
20
Crown Castle
CCI
$31.9B
$188M 1.45%
1,851,792
-243,148
-12% -$22.1M
LVLT
21
DELISTED
Level 3 Communications Inc
LVLT
$186M 1.44%
3,611,872
-346,048
-9% -$18.1M
TMUS icon
22
T-Mobile US
TMUS
$191B
$185M 1.43%
4,267,308
-470,891
-10% -$19.3M
OKE icon
23
Oneok
OKE
$59.7B
$173M 1.34%
3,645,756
-641,200
-15% -$25.4M
ELME
24
Elme Communities
ELME
$148M
$170M 1.32%
5,401,587
-321,000
-6% -$9.46M
SU icon
25
Suncor Energy
SU
$77.7B
$169M 1.31%
6,123,011
-675,000
-10% -$18.5M
1
2 3 4 5

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RWP
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CMTU
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URS
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GT
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ECU
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SCM
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PCIA
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Thornburg Investment Management's Q2 2016 Portfolio in Review

As of Q2 2016, Thornburg Investment Management held 306 positions worth $12.9B, down 14% from $15B the previous quarter. Its ten largest holdings account for 28% of the portfolio.

Thornburg Investment Management withdrew a net $2.1B in Q2 2016, closing 46 positions and reducing 141 holdings. Its most notable exit was American Airlines Group, an estimated $123M position sold in full.

By sector, the portfolio is most concentrated in Financials at 19% of assets, down from 21% a quarter earlier, followed by Healthcare and Real Estate.

Against the trend, Thornburg Investment Management opened a new position in CF Industries worth $85.4M.

  • Thornburg Investment Management's largest Q2 2016 buy was CF Industries: 3,542,225 shares worth $85.4M.
  • Thornburg Investment Management added most to Allergan plc in Q2 2016, an estimated $226M increase.
  • Thornburg Investment Management's biggest Q2 2016 reduction was Citigroup, cutting an estimated $229M.
  • Thornburg Investment Management fully exited American Airlines Group in Q2 2016, selling an estimated $123M.
  • Thornburg Investment Management's ten largest holdings make up 28% of its $12.9B portfolio in Q2 2016.
  • Thornburg Investment Management opened 42 new positions and closed 46 in Q2 2016.
  • Thornburg Investment Management's portfolio value fell 14% quarter-over-quarter to $12.9B.

Based on Thornburg Investment Management's 13F filing for Q2 2016, filed 12 Aug 2016.