SEC 13F Intelligence

Managers / Q4 2018 · view latest →

THORNBURG INVESTMENT MANAGEMENT INC

CIK 0001145020 · 2300 NORTH RIDGETOP ROAD, SANTA FE, NM, 87506-8361 · 5059840200

Reported Value
$10.2B
Q4 2018
Positions
171
Filings on Record
31
2019–present window
Filed
Feb 6, 2019
original filing

Summary

Thornburg Investment Management Inc reported $10.2B in U.S.-listed holdings across 171 positions for Q4 2018.

Its largest position, CME, represents 6.5% of the portfolio.

Portfolio Metrics

Top-10 Concentration
+36.9%
share of reported value
Largest Position
+6.5%
Cme

Methodology: turnover is min(value bought, value sold) ÷ average reported value across the two quarters — value-based, so market moves inflate it slightly versus a share-based measure. Concentration and largest position are shares of the filing’s total reported value, options excluded. New/exited counts compare against the prior filed quarter. All figures derive solely from the fund’s 13F filings.

Reported Value by Quarter

13F Reported Value
Q4 ’18: $10.2BQ4 ’18Q1 ’19: $10.3BQ2 ’19: $10.4BQ3 ’19: $10.4BQ4 ’19: $10.4BQ4 ’19Q1 ’20: $7.0BQ2 ’20: $7.8BQ3 ’20: $7.6BQ4 ’20: $8.4BQ4 ’20Q1 ’21: $8.6BQ2 ’21: $8.7BQ3 ’21: $8.1BQ4 ’21: $8.5BQ4 ’21Q1 ’22: $7.6BQ2 ’22: $6.5BQ3 ’22: $5.6BQ1 ’23: $6MQ1 ’23Q2 ’23: $6MQ3 ’23: $6MQ1 ’24: $7.2BQ2 ’24: $7.1BQ2 ’24Q3 ’24: $7.7BQ4 ’24: $7.6BQ1 ’25: $71.5BQ2 ’25: $7.8BQ2 ’25Q3 ’25: $7.7BQ4 ’25: $7.9BQ1 ’26: $9.6Bfilingsflow.com

Portfolio Composition

By security type
Common Stock: 62.4%ADR: 16.1%Other: 12.6%REIT: 6.4%ETP: 1.4%Other: 1.1%
  • Common Stock · 62.4% · $6.4B
  • ADR · 16.1% · $1.6B
  • Other · 12.6% · $1.3B
  • REIT · 6.4% · $656M
  • ETP · 1.4% · $140M
  • Other · 1.1% · $108M

Quarter-over-Quarter Changes full breakdown →

IssuerMoveShare ΔShares nowValue ΔValue now
CMECME GROUP INCNEW+3.53M3.53M+$663M$663M
RDS/AUSDROYAL DUTCH SHELL-SPON ADR-ANEW+11.19M11.19M+$652M$652M
JPMJPMORGAN CHASE & CONEW+4.64M4.64M+$453M$453M
WBAWALGREENS BOOTS ALLIANCE INCNEW+6.20M6.20M+$423M$423M
QCOMQUALCOMM INCNEW+5.62M5.62M+$320M$320M
MRKMERCK & CO. INC.NEW+4.01M4.01M+$306M$306M
ARCCARES CAPITAL CORPNEW+15.88M15.88M+$247M$247M
HDHOME DEPOT INCNEW+1.39M1.39M+$238M$238M

Value changes conflate price moves with buying and selling — share changes are the real signal. Share counts are not split-adjusted.

Holdings — Q4 2018

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1CMECME GROUP INChistory →COM CL A6.49%$663M3.53M
2RDS/AUSDROYAL DUTCH SHELL-SPON ADR-Ahistory →SPONS ADR A6.38%$652M11.19M
3JPMJPMORGAN CHASE & COhistory →COM4.43%$453M4.64M
4WBAWALGREENS BOOTS ALLIANCE INChistory →COM4.14%$423M6.20M
5QCOMQUALCOMM INChistory →COM3.13%$320M5.62M
6MRKMERCK & CO. INC.history →COM3.00%$306M4.01M
7ARCCARES CAPITAL CORPhistory →COM2.42%$247M15.88M
8HDHOME DEPOT INChistory →COM2.33%$238M1.39M
9MFA FINANCIAL INCCOM2.29%$234M35.01M
10BABAALIBABA GROUP HOLDING-SP ADRhistory →SPONSORED ADS2.27%$232M1.69M
11TAT&T INChistory →COM2.21%$226M7.92M
12AVGOBROADCOM INChistory →COM2.05%$210M825.0K
13OKEONEOK INChistory →COM2.04%$208M3.86M
14LVSLAS VEGAS SANDS CORPhistory →COM1.99%$203M3.90M
15GOOGLALPHABET INC-CL ACAP STK CL A · CAP STK CL C1.91%$195M187.7K
16AXA EQUITABLE HOLDINGS INCCOM1.86%$191M11.46M
17TRVCCITIGROUP INChistory →COM NEW1.78%$182M3.49M
188CWCROWN CASTLE INTL CORPhistory →COM1.66%$169M1.56M
19CHIMERA INVESTMENT CORPCOM NEW1.55%$159M8.90M
20TALTAL EDUCATION GROUP- ADRhistory →SPONSORED ADS1.54%$157M5.89M
21LYONDELLBASELL INDU-CL ASHS - A -1.45%$148M1.78M
22CANADIAN PACIFIC RAILWAY LTDCOM1.42%$145M819.1K
23VLOVALERO ENERGY CORPhistory →COM1.30%$133M1.77M
24METAFACEBOOK INC-CLASS Ahistory →CL A1.29%$131M1.00M
25COFCAPITAL ONE FINANCIAL CORPhistory →COM1.28%$131M1.73M
26PFEPFIZER INChistory →COM1.19%$122M2.79M
27RYAAYRYANAIR HOLDINGS PLC-SP ADRhistory →SPONSORED ADR NE1.18%$121M1.69M
28BIDUNBAIDU INC - SPON ADRhistory →SPON ADR REP A1.18%$120M758.5K
29LAMRLAMAR ADVERTISING CO-Ahistory →CL A1.10%$112M1.62M
30VANGUARD EUROPE PACIFIC ETFFTSE DEV MKT ETF1.03%$105M2.63M
31TMUST-MOBILE US INChistory →COM1.03%$105M1.65M
32MFICAPOLLO INVESTMENT CORPhistory →COM NEW0.99%$102M8.19M
33SLRCSOLAR CAPITAL LTDhistory →COM0.87%$89M4.61M
34CFCF INDUSTRIES HOLDINGS INChistory →COM0.84%$86M1.98M
35ATVIEURACTIVISION BLIZZARD INChistory →COM0.82%$84M1.81M
36NXP SEMICONDUCTORS NVCOM0.75%$77M1.04M
37TMOTHERMO FISHER SCIENTIFIC INChistory →COM0.72%$73M327.4K
38USFDUS FOODS HOLDING CORPhistory →COM0.71%$72M2.29M
39ELMEWASHINGTON REIThistory →SH BEN INT0.71%$72M3.14M
40VVISA INC-CLASS A SHAREShistory →COM CL A0.70%$72M543.9K
41GILDGILEAD SCIENCES INChistory →COM0.69%$71M1.13M
42CMCSACOMCAST CORP-CLASS Ahistory →CL A0.65%$67M1.96M
43FMXFOMENTO ECONOMICO MEX-SP ADRhistory →SPON ADR UNITS0.65%$66M770.9K
44OUTFRONT MEDIA INCCOM0.59%$60M3.33M
45ECHOECHOSTAR CORP-Ahistory →CL A0.59%$60M1.64M
46ASSURED GUARANTY LTDCOM0.59%$60M1.56M
47ZAYO GROUP HOLDINGS INCCOM0.58%$59M2.58M
48YANDEX NV-ASHS CLASS A0.56%$57M2.08M
49TEVATEVA PHARMACEUTICAL-SP ADRhistory →SPONSORED ADR0.53%$55M3.54M

Filing History

QuarterReported ValuePositionsFiledTypeLinks
Q1 2026$9.6B171May 12, 202613F-HRchanges · EDGAR ↗
Q4 2025$7.9B176Feb 13, 202613F-HRchanges · EDGAR ↗
Q3 2025$7.7B176Nov 12, 202513F-HRchanges · EDGAR ↗
Q2 2025$7.8B177Aug 13, 202513F-HRchanges · EDGAR ↗
Q1 2025$71.5B182May 8, 202513F-HRchanges · EDGAR ↗
Q4 2024$7.6B188Feb 14, 202513F-HRchanges · EDGAR ↗
Q3 2024$7.7B192Nov 12, 202413F-HRchanges · EDGAR ↗
Q2 2024$7.1B189Aug 8, 202413F-HRchanges · EDGAR ↗
Q1 2024$7.2B187May 13, 202413F-HRchanges · EDGAR ↗
Q4 2023Under review196Feb 8, 202413F-HRchanges · EDGAR ↗
Q3 2023$6M196Nov 13, 202313F-HRchanges · EDGAR ↗
Q2 2023$6M184Aug 8, 202313F-HRchanges · EDGAR ↗
Q1 2023$6M185May 9, 202313F-HRchanges · EDGAR ↗
Q4 2022Under review201Feb 8, 202313F-HRchanges · EDGAR ↗
Q3 2022$5.6B200Nov 15, 202213F-HRchanges · EDGAR ↗
Q2 2022$6.5B205Aug 5, 202213F-HRchanges · EDGAR ↗
Q1 2022$7.6B200May 12, 202213F-HRchanges · EDGAR ↗
Q4 2021$8.5B208Feb 10, 202213F-HRchanges · EDGAR ↗
Q3 2021$8.1B210Nov 10, 202113F-HRchanges · EDGAR ↗
Q2 2021$8.7B205Aug 11, 202113F-HRchanges · EDGAR ↗
Q1 2021$8.6B207May 14, 202113F-HRchanges · EDGAR ↗
Q4 2020$8.4B227Feb 9, 202113F-HRchanges · EDGAR ↗
Q3 2020$7.6B164Nov 5, 202013F-HRchanges · EDGAR ↗
Q2 2020$7.8B159Aug 7, 202013F-HRchanges · EDGAR ↗
Q1 2020$7.0B163May 13, 202013F-HRchanges · EDGAR ↗
Q4 2019$10.4B172Feb 10, 202013F-HRchanges · EDGAR ↗
Q3 2019$10.4B171Nov 12, 201913F-HRchanges · EDGAR ↗
Q2 2019$10.4B170Aug 6, 201913F-HRchanges · EDGAR ↗
Q1 2019$10.3B175May 7, 201913F-HRchanges · EDGAR ↗
Q4 2018$10.2B171Feb 6, 201913F-HRchanges · EDGAR ↗

13F filings are due up to 45 days after quarter end, so holdings shown here lag the fund’s current book. Source: original SEC filing on EDGAR ↗.