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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
+23.75%
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
$7.79B
AUM Growth
+$795M
Cap. Flow
-$557M
Cap. Flow %
-7.16%
Top 10 Hldgs %
37.71%
Holding
183
New
20
Increased
30
Reduced
92
Closed
24

Top Buys

Rank Stock Value
1
C icon
Citigroup
C
+$148M
2
CSCO icon
Cisco
CSCO
+$93.1M
3
LHX icon
L3Harris
LHX
+$75.1M
4
MA icon
Mastercard
MA
+$70.1M
5
DIS icon
Walt Disney
DIS
+$50.7M

Top Sells

Rank Stock Value
1
RDS.A
Royal Dutch Shell PLC ADS Class A
RDS.A
+$190M
2
MRK icon
Merck
MRK
+$103M
3
BABA icon
Alibaba
BABA
+$84.1M
4
SE icon
Sea Limited
SE
+$54.3M
5
CCI icon
Crown Castle
CCI
+$52.6M

Sector Composition

Rank Sector Weight
1 Financials 23.77%
2 Technology 20.2%
3 Healthcare 15.51%
4 Consumer Discretionary 12.66%
5 Communication Services 8.89%
Name Market Value Portfolio Weight Shares or Principal Change
in Stake 		Capital Flow
ABBV icon
1
AbbVie
ABBV
$438B
$367M 4.71%
3,735,905
+289,896
+8% +$25.5M
BABA icon
2
Alibaba
BABA
$317B
$344M 4.41%
1,593,946
-403,676
-20% -$84.1M
JPM icon
3
JPMorgan Chase
JPM
$956B
$329M 4.23%
3,498,274
-78,051
-2% -$7.41M
CME icon
4
CME Group
CME
$94.8B
$323M 4.14%
1,984,234
+66,440
+3% +$11.9M
HD icon
5
Home Depot
HD
$350B
$317M 4.07%
1,264,317
-201,969
-14% -$46.2M
AVGO icon
6
Broadcom
AVGO
$2.01T
$304M 3.91%
9,638,880
-347,350
-3% -$9.72M
WBA
7
DELISTED
Walgreens Boots Alliance
WBA
$248M 3.18%
5,842,248
-595,511
-9% -$25.3M
QCOM icon
8
Qualcomm
QCOM
$170B
$241M 3.09%
2,637,678
-327,722
-11% -$26.3M
C icon
9
Citigroup
C
$227B
$238M 3.06%
4,661,658
+3,115,208
+201% +$148M
EQH icon
10
Equitable Holdings
EQH
$14.4B
$227M 2.92%
11,790,135
– –
MRK icon
11
Merck
MRK
$323B
$187M 2.4%
2,529,021
-1,363,713
-35% -$103M
CCI icon
12
Crown Castle
CCI
$31.3B
$157M 2.01%
935,311
-326,815
-26% -$52.6M
ATVI
13
DELISTED
Activision Blizzard
ATVI
$155M 1.99%
2,045,731
-180,956
-8% -$12.6M
META icon
14
Meta Platforms (Facebook)
META
$1.52T
$146M 1.87%
641,203
-74,600
-10% -$15.6M
MA icon
15
Mastercard
MA
$493B
$144M 1.85%
488,037
+248,561
+104% +$70.1M
VLO icon
16
Valero Energy
VLO
$90.7B
$123M 1.58%
2,098,057
-344,614
-14% -$20.6M
PFE icon
17
Pfizer
PFE
$154B
$113M 1.45%
3,628,643
-983,556
-21% -$33.4M
RF icon
18
Regions Financial
RF
$26.8B
$111M 1.43%
9,986,000
+886,000
+10% +$9.43M
CIM
19
Chimera Investment
CIM
$980M
$109M 1.4%
3,790,961
+909,776
+32% +$23.4M
LAMR icon
20
Lamar Advertising Co
LAMR
$15.7B
$104M 1.34%
1,559,987
-72,000
-4% -$4.4M
GOOG icon
21
Alphabet (Google) Class C
GOOG
$4.35T
$104M 1.33%
1,467,840
-132,140
-8% -$8.92M
CSCO icon
22
Cisco
CSCO
$483B
$99M 1.27%
+2,122,841
New +$93.1M
LYB icon
23
LyondellBasell Industries
LYB
$20.2B
$94.3M 1.21%
1,434,773
-172,545
-11% -$10.3M
NFLX icon
24
Netflix
NFLX
$318B
$92.7M 1.19%
2,036,560
-539,420
-21% -$23M
RDS.A
25
DELISTED
Royal Dutch Shell PLC ADS Class A
RDS.A
$91M 1.17%
2,784,879
-5,544,085
-67% -$190M
1
2 3 4 5

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TCA
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CCMT
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LAMI
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DCP
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HL
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FCM
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CCM
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Thornburg Investment Management's Q2 2020 Portfolio in Review

As of Q2 2020, Thornburg Investment Management held 183 positions worth $7.79B, up 11% from $6.99B the previous quarter. Its ten largest holdings account for 38% of the portfolio.

Thornburg Investment Management withdrew a net $557M in Q2 2020, closing 24 positions and reducing 92 holdings. Its most notable exit was Gilead Sciences, an estimated $40M position sold in full.

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

Against the trend, Thornburg Investment Management opened a new position in Cisco worth $99M.

  • Thornburg Investment Management's largest Q2 2020 buy was Cisco: 2,122,841 shares worth $99M.
  • Thornburg Investment Management added most to Citigroup in Q2 2020, an estimated $148M increase.
  • Thornburg Investment Management's biggest Q2 2020 reduction was Royal Dutch Shell PLC ADS Class A, cutting an estimated $190M.
  • Thornburg Investment Management fully exited Gilead Sciences in Q2 2020, selling an estimated $40M.
  • Thornburg Investment Management's ten largest holdings make up 38% of its $7.79B portfolio in Q2 2020.
  • Thornburg Investment Management opened 20 new positions and closed 24 in Q2 2020.
  • Thornburg Investment Management's portfolio value rose 11% quarter-over-quarter to $7.79B.

Based on Thornburg Investment Management's 13F filing for Q2 2020, filed 7 Aug 2020.