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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
+10.4%
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
$10.4B
AUM Growth
+$28.5M
Cap. Flow
-$879M
Cap. Flow %
-8.46%
Top 10 Hldgs %
38.14%
Holding
186
New
16
Increased
54
Reduced
84
Closed
15

Top Buys

Rank Stock Value
1
TCOM icon
Trip.com Group
TCOM
+$46M
2
COO icon
Cooper Companies
COO
+$38.6M
3
AVGO icon
Broadcom
AVGO
+$28.4M
4
TEAM icon
Atlassian
TEAM
+$28.1M
5
PBR icon
Petrobras
PBR
+$25.8M

Top Sells

Rank Stock Value
1
EQH icon
Equitable Holdings
EQH
+$255M
2
ARCC icon
Ares Capital
ARCC
+$215M
3
TRGP icon
Targa Resources
TRGP
+$65.9M
4
T icon
AT&T
T
+$57.4M
5
TAL icon
TAL Education Group
TAL
+$57M

Sector Composition

Rank Sector Weight
1 Financials 20.46%
2 Consumer Discretionary 14.59%
3 Technology 14.35%
4 Healthcare 13.83%
5 Real Estate 9.71%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
CME icon
1
CME Group
CME
$101B
$569M 5.47%
2,835,158
+81,863
+3% +$16.8M
JPM icon
2
JPMorgan Chase
JPM
$942B
$559M 5.37%
4,006,878
-354,919
-8% -$45.5M
RDS.A
3
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$482M 4.64%
8,179,458
+332,438
+4% +$19.4M
BABA icon
4
Alibaba
BABA
$289B
$465M 4.47%
2,192,925
+37,343
+2% +$7.01M
QCOM icon
5
Qualcomm
QCOM
$176B
$341M 3.28%
3,864,459
-443,020
-10% -$37.1M
HD icon
6
Home Depot
HD
$328B
$337M 3.24%
1,541,398
– –
MRK icon
7
Merck
MRK
$369B
$332M 3.19%
3,825,850
– –
AVGO icon
8
Broadcom
AVGO
$1.77T
$314M 3.02%
9,949,680
+933,840
+10% +$28.4M
WBA
9
DELISTED
Walgreens Boots Alliance
WBA
$294M 2.83%
4,982,713
-2,600
-0.1% -$150K
LVS icon
10
Las Vegas Sands
LVS
$28.7B
$273M 2.62%
3,948,362
-22,968
-0.6% -$1.43M
MFA
11
MFA Financial
MFA
$896M
$251M 2.41%
8,186,682
-137,500
-2% -$4.2M
ABBV icon
12
AbbVie
ABBV
$456B
$243M 2.33%
2,740,312
+3,485
+0.1% +$289K
VLO icon
13
Valero Energy
VLO
$99.8B
$220M 2.12%
2,348,057
+50,000
+2% +$4.73M
CCI icon
14
Crown Castle
CCI
$31.9B
$195M 1.88%
1,374,984
-100,081
-7% -$13.7M
C icon
15
Citigroup
C
$223B
$192M 1.85%
2,401,590
+271,282
+13% +$20M
LYB icon
16
LyondellBasell Industries
LYB
$20.4B
$180M 1.74%
1,910,092
+35,700
+2% +$3.27M
CIM
17
Chimera Investment
CIM
$964M
$177M 1.71%
2,874,502
-71,667
-2% -$4.37M
META icon
18
Meta Platforms (Facebook)
META
$1.45T
$148M 1.42%
720,633
-46,256
-6% -$8.96M
LAMR icon
19
Lamar Advertising Co
LAMR
$15.3B
$145M 1.39%
1,622,656
– –
ATVI
20
DELISTED
Activision Blizzard
ATVI
$138M 1.33%
2,330,153
+92,852
+4% +$5.14M
COF icon
21
Capital One
COF
$133B
$134M 1.29%
1,306,908
-225,050
-15% -$21.7M
RYAAY icon
22
Ryanair
RYAAY
$28.8B
$119M 1.15%
3,408,335
-1,149,353
-25% -$36.9M
PFE icon
23
Pfizer
PFE
$160B
$118M 1.14%
3,184,136
+418,046
+15% +$14.9M
GOOG icon
24
Alphabet (Google) Class C
GOOG
$4.13T
$112M 1.08%
1,676,860
-58,480
-3% -$3.77M
MFIC icon
25
MidCap Financial Investment
MFIC
$799M
$103M 0.99%
5,878,349
-2,306,681
-28% -$38M
1
2 3 4 5

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Thornburg Investment Management's Q4 2019 Portfolio in Review

As of Q4 2019, Thornburg Investment Management held 186 positions worth $10.4B, up 0.28% from $10.4B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Thornburg Investment Management withdrew a net $879M in Q4 2019, closing 15 positions and reducing 84 holdings. Its most notable exit was Equitable Holdings, an estimated $255M position sold in full.

By sector, the portfolio is most concentrated in Financials at 20% of assets, down from 24% a quarter earlier, followed by Consumer Discretionary and Technology.

Against the trend, Thornburg Investment Management opened a new position in Trip.com Group worth $47.9M.

  • Thornburg Investment Management's largest Q4 2019 buy was Trip.com Group: 1,427,030 shares worth $47.9M.
  • Thornburg Investment Management added most to Broadcom in Q4 2019, an estimated $28.4M increase.
  • Thornburg Investment Management's biggest Q4 2019 reduction was Ares Capital, cutting an estimated $215M.
  • Thornburg Investment Management fully exited Equitable Holdings in Q4 2019, selling an estimated $255M.
  • Thornburg Investment Management's ten largest holdings make up 38% of its $10.4B portfolio in Q4 2019.
  • Thornburg Investment Management opened 16 new positions and closed 15 in Q4 2019.
  • Thornburg Investment Management's portfolio value rose 0.28% quarter-over-quarter to $10.4B.

Based on Thornburg Investment Management's 13F filing for Q4 2019, filed 10 Feb 2020.