SEC 13F Intelligence

Managers / Q2 2020 · view latest →

THORNBURG INVESTMENT MANAGEMENT INC

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

Reported Value
$7.8B
Q2 2020
Positions
159
Filings on Record
31
2019–present window
Filed
Aug 7, 2020
original filing

Summary

Thornburg Investment Management Inc reported $7.8B in U.S.-listed holdings across 159 positions for Q2 2020.

Its largest position, ABBV, represents 4.7% of the portfolio.

Compared with Q1 2020, the fund opened 20 new positions and exited 24.

Portfolio Metrics

Turnover
+10.6%
vs prior filed quarter
Top-10 Concentration
+37.7%
share of reported value
Largest Position
+4.7%
Abbvie
New / Exited
20 / 24
positions this quarter

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: 72.4%ADR: 11.5%Other: 10.0%REIT: 5.4%NY Reg Shrs: 0.3%Other: 0.3%
  • Common Stock · 72.4% · $5.6B
  • ADR · 11.5% · $896M
  • Other · 10.0% · $782M
  • REIT · 5.4% · $423M
  • NY Reg Shrs · 0.3% · $22M
  • Other · 0.3% · $23M

Quarter-over-Quarter Changes full breakdown →

vs Q1 2020 (amended baseline)

IssuerMoveShare ΔShares nowValue ΔValue now
CSCOCISCO SYSTEMS INCNEW+2.12M2.12M+$99M$99M
LHXL3HARRIS TECHNOLOGIES INCNEW+399.4K399.4K+$68M$68M
DISWALT DISNEY CO/THENEW+459.2K459.2K+$51M$51M
SPGIS&P GLOBAL INCNEW+109.5K109.5K+$36M$36M
BILIBILIBILI INC-SPONSORED ADRNEW+577.4K577.4K+$27M$27M
PWRQUANTA SERVICES INCNEW+474.2K474.2K+$19M$19M
UNHUNITEDHEALTH GROUP INCNEW+47.0K47.0K+$14M$14M
FOXFFOX FACTORY HOLDING CORPNEW+142.8K142.8K+$12M$12M

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

Holdings — Q2 2020

49 positions
Export to Excel
#IssuerClass% PortfolioValue ↓Shares
1ABBVABBVIE INChistory →ABBVIE INC4.71%$367M3.74M
2BABAALIBABA GROUP HOLDING-SP ADRhistory →ALIBABA GROUP HLDG LTD4.41%$344M1.59M
3JPMJPMORGAN CHASE & COhistory →JPMORGAN CHASE & CO4.23%$329M3.50M
4CMECME GROUP INChistory →CME GROUP INC4.14%$323M1.98M
5HDHOME DEPOT INChistory →HOME DEPOT INC4.07%$317M1.26M
6AVGOBROADCOM INChistory →BROADCOM INC3.91%$304M963.9K
7WBAWALGREENS BOOTS ALLIANCE INChistory →WALGREENS BOOTS ALLIANCE INC3.18%$248M5.84M
8QCOMQUALCOMM INChistory →QUALCOMM INC3.09%$241M2.64M
9TRVCCITIGROUP INChistory →CITIGROUP INC3.06%$238M4.66M
10EQHEQUITABLE HOLDINGS INChistory →EQUITABLE HLDGS INC2.92%$227M11.79M
11MRKMERCK & CO. INC.history →MERCK & CO. INC2.40%$187M2.41M
12GOOGALPHABET INC-CL CALPHABET INC2.22%$173M122.1K
138CWCROWN CASTLE INTL CORPhistory →CROWN CASTLE INTL CORP NEW2.01%$157M935.3K
14ATVIEURACTIVISION BLIZZARD INChistory →ACTIVISION BLIZZARD INC1.99%$155M2.05M
15METAFACEBOOK INC-CLASS Ahistory →FACEBOOK INC1.87%$146M641.2K
16MAMASTERCARD INC - Ahistory →MASTERCARD INCORPORATED1.85%$144M488.0K
17VLOVALERO ENERGY CORPhistory →VALERO ENERGY CORP1.58%$123M2.10M
18PFEPFIZER INChistory →PFIZER INC1.45%$113M3.44M
19RFREGIONS FINANCIAL CORPhistory →REGIONS FINANCIAL CORP NEW1.43%$111M9.99M
20CHIMERA INVESTMENT CORPCHIMERA INVT CORP1.40%$109M11.37M
21LAMRLAMAR ADVERTISING CO-Ahistory →LAMAR ADVERTISING CO NEW1.34%$104M1.56M
22CSCOCISCO SYSTEMS INChistory →CISCO SYS INC1.27%$99M2.12M
23LYONDELLBASELL INDU-CL ALYONDELLBASELL INDUSTRIES N1.21%$94M1.43M
24NFLXNETFLIX INChistory →NETFLIX INC1.19%$93M203.7K
25RDS/AUSDROYAL DUTCH SHELL-SPON ADR-Ahistory →ROYAL DUTCH SHELL PLC1.17%$91M2.78M
26VVISA INC-CLASS A SHAREShistory →VISA INC1.07%$84M433.4K
27COFCAPITAL ONE FINANCIAL CORPhistory →CAPITAL ONE FINL CORP1.00%$78M1.25M
28MLB1MERCADOLIBRE INChistory →MERCADOLIBRE INC0.97%$75M76.5K
29TMOTHERMO FISHER SCIENTIFIC INChistory →THERMO FISHER SCIENTIFIC INC0.96%$75M207.0K
30TSMTAIWAN SEMICONDUCTOR-SP ADRhistory →TAIWAN SEMICONDUCTOR MFG LTD0.96%$75M1.31M
31SLRCSOLAR CAPITAL LTDhistory →SOLAR CAP LTD0.96%$74M4.65M
32AAPLAPPLE INChistory →APPLE INC0.93%$72M198.4K
33WIX.COM LTDWIX COM LTD0.90%$70M273.4K
34YANDEX NV-AYANDEX N V0.89%$70M1.39M
35LHXL3HARRIS TECHNOLOGIES INChistory →L3HARRIS TECHNOLOGIES INC0.87%$68M399.4K
36CANADIAN PACIFIC RAILWAY LTDCANADIAN PAC RY LTD0.84%$65M255.6K
37GDSGDS HOLDINGS LTD - ADRhistory →GDS HLDGS LTD0.84%$65M819.3K
38MFA FINANCIAL INCMFA FINL INC0.83%$65M26.02M
39QRVOQORVO INChistory →QORVO INC0.82%$64M579.0K
40TALTAL EDUCATION GROUP- ADRhistory →TAL EDUCATION GROUP0.82%$64M935.6K
41ELMEWASHINGTON REIThistory →WASHINGTON REAL ESTATE INVT0.80%$62M2.81M
42MUMICRON TECHNOLOGY INChistory →MICRON TECHNOLOGY INC0.79%$62M1.20M
43CMCSACOMCAST CORP-CLASS Ahistory →COMCAST CORP NEW0.77%$60M1.54M
44AMZNAMAZON.COM INChistory →AMAZON COM INC0.72%$56M20.5K
45NOMAD FOODS LTDNOMAD FOODS LTD0.71%$55M2.56M
46DISWALT DISNEY CO/THEhistory →DISNEY WALT CO0.66%$51M459.2K
47FNVFRANCO-NEVADA CORPhistory →FRANCO NEV CORP0.65%$50M360.3K
48CCKCROWN HOLDINGS INChistory →CROWN HLDGS INC0.62%$48M739.8K
49ATLASSIAN CORP PLC-CLASS AATLASSIAN CORP PLC0.61%$47M262.9K

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 ↗.