TIGCX

Thornburg International Growth Fund

Morningstar Rating • Info

Overall Morningstar Rating among 352 Foreign Large Growth funds, based on risk-adjusted returns for class C shares, using a weighted average of the funds three-, five-, and ten-year ratings: respectively, 2 stars, 2 stars and 1 star among 352, 325 and 224 funds, as of 31 May 2026.

As of 31 May 2026

Fund Assets

$695.2 M

As of 31 May 2026

NAV

$23.30

As of 26 Jun 2026

Change

$-0.30

As of 26 Jun 2026

YTD NAV Performance

8.78%

As of 26 Jun 2026

Asset Category:

International Equity

Fund Benchmark:

MSCI ACWI ex-U.S. Growth Index

Portfolio Managers

Sean Koung Sun, CFA

Portfolio Manager and Managing Director

Nicholas Anderson, CFA

Portfolio Manager and Managing Director

Overview Performance Fund Facts Characteristics Portfolio Portfolio Managers Literature

Overview

Why Invest in This Fund?

Focused, diversified equity portfolio that invests in high-quality companies with sustainable competitive advantage and durable growth prospects. The fund invests primarily in large and mid-capitalization companies in developed and emerging markets outside the U.S.
Rigorous bottom-up fundamental research process focused on uncovering promising growth companies with sound business fundamentals and trading at a discount to their long-term value.
Three-basket portfolio construction process seeks to provide diversification, reduce volatility and deliver superior risk-adjusted performance over time.

Investment Objective

The fund’s goal is to provide investors with long-term growth of capital by investing in equity securities selected for their growth potential.

Investment Approach

The fund uses fundamental, bottom-up analysis to uncover companies with robust, high-quality business models and durable growth prospects across geographies and sectors. Our unique three-basket approach to security selection provides diversification across the style spectrum while balancing risk exposures. Ultimately, this high-conviction, active portfolio seeks to outperform its benchmark over a full market cycle.

Returns

(As of 31 Mar 2026)

YTD

10y

Inception

Total Return with Sales Charge (%)

-4.79

5.56

3.56

-2.34

4.32

4.95

Total Return without Sales Charge (%)

-3.83

6.56

3.56

-2.34

4.32

4.95

MSCI ACWI ex-U.S. Growth Index (%)

-3.62

18.77

10.14

3.26

7.56

4.57

Morningstar Category Avg. (%)

-4.01

12.49

8.99

2.82

7.42

—

Morningstar Quartile

—

Morningstar Quartile # of Funds

—

382

359

332

225

—

YTD

10y

Inception

Total Return with Sales Charge (%)

8.15

10.43

8.70

-0.49

5.62

5.60

Total Return without Sales Charge (%)

9.15

11.43

8.70

-0.49

5.62

5.60

MSCI ACWI ex-U.S. Growth Index (%)

13.11

27.50

16.88

5.35

9.20

5.40

Morningstar Category Avg. (%)

8.27

15.61

13.84

3.9

8.58

—

Morningstar Quartile

—

Morningstar Quartile # of Funds

—

376

352

325

224

—

YTD

10y

Inception

Total Return with Sales Charge (%)

-4.79

5.56

11.06

-11.16

52.68

152.45

Total Return without Sales Charge (%)

-3.83

6.56

11.06

-11.16

52.68

152.45

MSCI ACWI ex-U.S. Growth Index (%)

-3.62

18.77

33.62

17.42

107.22

135.45

YTD

10y

Inception

Total Return with Sales Charge (%)

8.15

10.43

28.43

-2.42

72.80

186.52

Total Return without Sales Charge (%)

9.15

11.43

28.43

-2.42

72.80

186.52

MSCI ACWI ex-U.S. Growth Index (%)

13.11

27.50

59.66

29.77

141.12

176.32

2020

2021

2022

2023

2024

2025

Total Return with Sales Charge (%)

31.88

-6.12

-27.69

15.85

0.07

8.13

MSCI ACWI ex-U.S. Growth Index (%)

22.20

5.09

-23.05

14.03

5.07

25.65

Source: Confluence

Periods less than one year are not annualized.

Performance data shown represents past performance and is no guarantee of future results. Investment return and principal value will fluctuate so shares, when redeemed, may be worth more or less than their original cost. Current performance may be lower or higher than quoted.

The maximum sales charge for the equity funds' A shares is 4.50%. C shares include a 1% contingent deferred sales charge (CDSC) for the first year only. There is no up-front sales charge for class I or R shares.

Morningstar quartile ranking for Foreign Large Growth category is based on total returns before sales charges.

Prior to inception of R share classes, performance is hypothetical and was calculated from actual returns of an earlier share class adjusted for the expenses of the newer share class.

Share class inception dates: A, C and I shares, 1 Feb 2007; R3, R4 and R5 shares, 1 Feb 2008; R6 shares, 1 Feb 2013.

Fund Fees

(As of 1 Feb 2026)

Gross Expense Ratio (%)

2.59

Net Expense Ratio (%)

2.38

Thornburg Investment Management and/or Thornburg Securities LLC have contractually agreed to waive fees and reimburse expenses through at least 1 February 2027, for some of the share classes; these are reflected in the net expense ratio. For more detailed information on fund expenses and waivers/reimbursements, please see the fund's prospectus.

Expense Ratios - Expressed as a percentage of total fund assets and include management fees and operating costs. Expense ratios fluctuate over time and the expense ratio in the prospectus may differ from the actual expense ratio. The fund's total return includes the deduction of expenses.

Hypothetical Growth of $10,000

            Categories,C Shares,MSCI ACWI ex-U.S. Growth Index
            2007-02-01,10000,10000
2007-02-28,10092,9924
2007-03-31,10553,10247
2007-04-30,11030,10714
2007-05-31,11432,10997
2007-06-30,11692,11106
2007-07-31,11633,11130
2007-08-31,11633,10999
2007-09-30,12437,11816
2007-10-31,13241,12494
2007-11-30,13116,12033
2007-12-31,13181,11886
2008-01-31,11732,10680
2008-02-29,11989,11139
2008-03-31,11423,10845
2008-04-30,11809,11458
2008-05-31,11938,11790
2008-06-30,10728,10951
2008-07-31,10420,10493
2008-08-31,9965,9931
2008-09-30,8765,8335
2008-10-31,6672,6514
2008-11-30,6226,6089
2008-12-31,6502,6464
2009-01-31,5975,5974
2009-02-28,5388,5461
2009-03-31,5966,5858
2009-04-30,6856,6456
2009-05-31,7633,7334
2009-06-30,7676,7258
2009-07-31,8254,7916
2009-08-31,8289,8074
2009-09-30,8919,8514
2009-10-31,8850,8478
2009-11-30,9014,8747
2009-12-31,9394,8964
2010-01-31,9118,8520
2010-02-28,9247,8558
2010-03-31,9964,9147
2010-04-30,10042,9086
2010-05-31,9247,8159
2010-06-30,9256,8101
2010-07-31,9739,8772
2010-08-31,9731,8581
2010-09-30,10516,9486
2010-10-31,11173,9795
2010-11-30,11207,9534
2010-12-31,11863,10260
2011-01-31,12062,10207
2011-02-28,12433,10456
2011-03-31,12312,10494
2011-04-30,13081,11036
2011-05-31,13271,10771
2011-06-30,13133,10588
2011-07-31,13400,10525
2011-08-31,12545,9655
2011-09-30,11423,8454
2011-10-31,12416,9394
2011-11-30,11743,8946
2011-12-31,11423,8802
2012-01-31,11993,9368
2012-02-29,12727,9915
2012-03-31,13219,9837
2012-04-30,13020,9776
2012-05-31,11872,8691
2012-06-30,12071,9103
2012-07-31,12226,9271
2012-08-31,12623,9427
2012-09-30,13374,9755
2012-10-31,13556,9767
2012-11-30,13806,9993
2012-12-31,13806,10269
2013-01-31,14359,10635
2013-02-28,14739,10653
2013-03-31,15265,10732
2013-04-30,15628,11059
2013-05-31,15852,10849
2013-06-30,15377,10412
2013-07-31,16120,10796
2013-08-31,16206,10632
2013-09-30,17277,11332
2013-10-31,17795,11699
2013-11-30,17960,11739
2013-12-31,18697,11860
2014-01-31,17889,11293
2014-02-28,18493,11887
2014-03-31,17676,11895
2014-04-30,17143,11981
2014-05-31,17552,12248
2014-06-30,17898,12425
2014-07-31,17445,12244
2014-08-31,17481,12355
2014-09-30,16380,11818
2014-10-31,16770,11777
2014-11-30,16797,11949
2014-12-31,16244,11545
2015-01-31,15935,11632
2015-02-28,17303,12229
2015-03-31,16993,12098
2015-04-30,17827,12631
2015-05-31,17799,12495
2015-06-30,17181,12169
2015-07-31,17387,12201
2015-08-31,16581,11284
2015-09-30,15935,10858
2015-10-31,17050,11681
2015-11-30,17331,11550
2015-12-31,17143,11401
2016-01-31,15916,10697
2016-02-29,15616,10563
2016-03-31,16534,11362
2016-04-30,16310,11535
2016-05-31,16581,11460
2016-06-30,15644,11415
2016-07-31,16666,11964
2016-08-31,17078,11922
2016-09-30,17106,12107
2016-10-31,16525,11696
2016-11-30,16094,11250
2016-12-31,16150,11415
2017-01-31,16769,11874
2017-02-28,16862,12113
2017-03-31,17855,12457
2017-04-30,18773,12819
2017-05-31,19579,13389
2017-06-30,19607,13399
2017-07-31,20609,13863
2017-08-31,20441,14002
2017-09-30,21078,14248
2017-10-31,21050,14590
2017-11-30,21044,14751
2017-12-31,21540,15069
2018-01-31,23067,15854
2018-02-28,22240,15145
2018-03-31,21900,14938
2018-04-30,21987,15050
2018-05-31,22357,14964
2018-06-30,22289,14725
2018-07-31,22561,14978
2018-08-31,22172,14809
2018-09-30,21598,14687
2018-10-31,19614,13312
2018-11-30,19229,13514
2018-12-31,17733,12895
2019-01-31,19219,13876
2019-02-28,19693,14251
2019-03-31,20350,14483
2019-04-30,21411,14939
2019-05-31,19734,14173
2019-06-30,20613,15114
2019-07-31,20643,15082
2019-08-31,20239,14809
2019-09-30,20077,14985
2019-10-31,20724,15530
2019-11-30,21224,15767
2019-12-31,22159,16421
2020-01-31,22199,16263
2020-02-29,21153,15076
2020-03-31,18857,13425
2020-04-30,20594,14583
2020-05-31,22504,15218
2020-06-30,23703,15990
2020-07-31,25613,17074
2020-08-31,26771,17770
2020-09-30,26477,17614
2020-10-31,26050,17305
2020-11-30,28044,19065
2020-12-31,29446,20067
2021-01-31,29312,20188
2021-02-28,29332,20115
2021-03-31,28415,20051
2021-04-30,29847,20791
2021-05-31,29363,21293
2021-06-30,29796,21375
2021-07-31,29621,21050
2021-08-31,30373,21526
2021-09-30,28384,20601
2021-10-31,29301,21239
2021-11-30,27328,20472
2021-12-31,27904,21089
2022-01-31,25622,19388
2022-02-28,24403,18846
2022-03-31,23717,18816
2022-04-30,21911,17416
2022-05-31,21778,17267
2022-06-30,19972,15860
2022-07-31,21291,16733
2022-08-31,20205,16080
2022-09-30,18089,14374
2022-10-31,18510,14657
2022-11-30,21136,16478
2022-12-31,20382,16227
2023-01-31,22343,17600
2023-02-28,21667,16846
2023-03-31,22731,17621
2023-04-30,22908,17799
2023-05-31,22310,17307
2023-06-30,23185,17964
2023-07-31,23539,18523
2023-08-31,22653,17579
2023-09-30,21291,16651
2023-10-31,20526,16003
2023-11-30,22786,17659
2023-12-31,23816,18504
2024-01-31,24149,18362
2024-02-29,25223,19064
2024-03-31,25943,19597
2024-04-30,24835,19055
2024-05-31,25755,19558
2024-06-30,26098,19739
2024-07-31,25600,19948
2024-08-31,26586,20582
2024-09-30,26530,21105
2024-10-31,24946,20032
2024-11-30,24890,19867
2024-12-31,24054,19442
2025-01-31,24963,20268
2025-02-28,24902,20284
2025-03-31,23690,19823
2025-04-30,24660,20631
2025-05-31,25714,21673
2025-06-30,26320,22532
2025-07-31,26126,22258
2025-08-31,26562,22886
2025-09-30,26768,23818
2025-10-31,26999,24393
2025-11-30,25931,23954
2025-12-31,26250,24429
2026-01-31,27047,25778
2026-02-28,27255,26800
2026-03-31,25245,23545
2026-04-30,27488,26172
2026-05-31,28652,27632

Hypothetical Growth of $10,000

(As of 31 May 2026)

(Hypothetical Growth of $10,000 vs MSCI ACWI ex-U.S. Growth Index)

                        Categories,C Shares,MSCI ACWI ex-U.S. Growth Index
                        2025-05-31,10000,10000
2025-06-30,10236,10397
2025-07-31,10160,10270
2025-08-31,10330,10560
2025-09-30,10410,10990
2025-10-31,10500,11255
2025-11-30,10084,11053
2025-12-31,10208,11272
2026-01-31,10518,11894
2026-02-28,10599,12366
2026-03-31,9818,10864
2026-04-30,10690,12076
2026-05-31,11043,12750

                        Categories,C Shares,MSCI ACWI ex-U.S. Growth Index
                        2023-05-31,10000,10000
2023-06-30,10392,10380
2023-07-31,10551,10703
2023-08-31,10154,10157
2023-09-30,9543,9621
2023-10-31,9201,9247
2023-11-30,10213,10204
2023-12-31,10675,10692
2024-01-31,10824,10610
2024-02-29,11306,11016
2024-03-31,11629,11324
2024-04-30,11132,11010
2024-05-31,11544,11301
2024-06-30,11698,11406
2024-07-31,11475,11526
2024-08-31,11917,11893
2024-09-30,11892,12195
2024-10-31,11182,11575
2024-11-30,11157,11479
2024-12-31,10782,11234
2025-01-31,11189,11711
2025-02-28,11162,11720
2025-03-31,10619,11454
2025-04-30,11053,11921
2025-05-31,11526,12523
2025-06-30,11798,13019
2025-07-31,11711,12861
2025-08-31,11906,13224
2025-09-30,11998,13763
2025-10-31,12102,14094
2025-11-30,11623,13841
2025-12-31,11766,14115
2026-01-31,12123,14895
2026-02-28,12217,15485
2026-03-31,11316,13605
2026-04-30,12321,15123
2026-05-31,12843,15966

                        Categories,C Shares,MSCI ACWI ex-U.S. Growth Index
                        2021-05-31,10000,10000
2021-06-30,10147,10038
2021-07-31,10088,9886
2021-08-31,10344,10109
2021-09-30,9667,9675
2021-10-31,9979,9975
2021-11-30,9307,9614
2021-12-31,9503,9904
2022-01-31,8726,9105
2022-02-28,8311,8851
2022-03-31,8077,8837
2022-04-30,7462,8179
2022-05-31,7417,8109
2022-06-30,6802,7448
2022-07-31,7251,7858
2022-08-31,6881,7552
2022-09-30,6161,6751
2022-10-31,6304,6883
2022-11-30,7198,7739
2022-12-31,6941,7621
2023-01-31,7609,8265
2023-02-28,7379,7911
2023-03-31,7741,8275
2023-04-30,7802,8359
2023-05-31,7598,8128
2023-06-30,7896,8436
2023-07-31,8017,8699
2023-08-31,7715,8256
2023-09-30,7251,7820
2023-10-31,6990,7516
2023-11-30,7760,8293
2023-12-31,8111,8690
2024-01-31,8224,8624
2024-02-29,8590,8953
2024-03-31,8835,9204
2024-04-30,8458,8949
2024-05-31,8771,9185
2024-06-30,8888,9270
2024-07-31,8718,9368
2024-08-31,9054,9666
2024-09-30,9035,9912
2024-10-31,8496,9408
2024-11-30,8477,9330
2024-12-31,8192,9131
2025-01-31,8501,9519
2025-02-28,8481,9526
2025-03-31,8068,9310
2025-04-30,8398,9689
2025-05-31,8757,10178
2025-06-30,8964,10582
2025-07-31,8898,10453
2025-08-31,9046,10748
2025-09-30,9116,11186
2025-10-31,9195,11456
2025-11-30,8831,11250
2025-12-31,8940,11473
2026-01-31,9211,12106
2026-02-28,9282,12586
2026-03-31,8598,11058
2026-04-30,9361,12291
2026-05-31,9758,12977

                        Categories,C Shares,MSCI ACWI ex-U.S. Growth Index
                        2016-05-31,10000,10000
2016-06-30,9435,9961
2016-07-31,10051,10440
2016-08-31,10299,10403
2016-09-30,10316,10565
2016-10-31,9966,10206
2016-11-30,9706,9817
2016-12-31,9740,9960
2017-01-31,10113,10361
2017-02-28,10169,10570
2017-03-31,10768,10869
2017-04-30,11322,11185
2017-05-31,11808,11683
2017-06-30,11825,11692
2017-07-31,12429,12097
2017-08-31,12328,12218
2017-09-30,12712,12432
2017-10-31,12695,12731
2017-11-30,12691,12871
2017-12-31,12991,13149
2018-01-31,13911,13834
2018-02-28,13413,13215
2018-03-31,13208,13035
2018-04-30,13260,13132
2018-05-31,13483,13058
2018-06-30,13442,12849
2018-07-31,13606,13070
2018-08-31,13372,12922
2018-09-30,13026,12816
2018-10-31,11829,11616
2018-11-30,11597,11792
2018-12-31,10695,11252
2019-01-31,11591,12108
2019-02-28,11877,12435
2019-03-31,12273,12638
2019-04-30,12913,13035
2019-05-31,11901,12367
2019-06-30,12431,13188
2019-07-31,12450,13160
2019-08-31,12206,12922
2019-09-30,12108,13076
2019-10-31,12499,13551
2019-11-30,12800,13758
2019-12-31,13364,14329
2020-01-31,13388,14191
2020-02-29,12757,13155
2020-03-31,11372,11714
2020-04-30,12420,12725
2020-05-31,13572,13279
2020-06-30,14295,13953
2020-07-31,15447,14898
2020-08-31,16145,15506
2020-09-30,15968,15370
2020-10-31,15710,15100
2020-11-30,16913,16636
2020-12-31,17758,17510
2021-01-31,17678,17616
2021-02-28,17690,17552
2021-03-31,17137,17497
2021-04-30,18001,18142
2021-05-31,17709,18580
2021-06-30,17970,18652
2021-07-31,17864,18368
2021-08-31,18318,18783
2021-09-30,17118,17976
2021-10-31,17671,18533
2021-11-30,16481,17863
2021-12-31,16829,18402
2022-01-31,15452,16918
2022-02-28,14717,16445
2022-03-31,14303,16419
2022-04-30,13214,15197
2022-05-31,13134,15067
2022-06-30,12045,13839
2022-07-31,12840,14601
2022-08-31,12185,14032
2022-09-30,10909,12543
2022-10-31,11163,12789
2022-11-30,12747,14379
2022-12-31,12292,14159
2023-01-31,13475,15357
2023-02-28,13067,14700
2023-03-31,13709,15376
2023-04-30,13816,15531
2023-05-31,13455,15101
2023-06-30,13983,15675
2023-07-31,14196,16163
2023-08-31,13662,15339
2023-09-30,12840,14530
2023-10-31,12379,13964
2023-11-30,13742,15409
2023-12-31,14363,16146
2024-01-31,14564,16023
2024-02-29,15212,16635
2024-03-31,15646,17100
2024-04-30,14978,16627
2024-05-31,15532,17066
2024-06-30,15740,17224
2024-07-31,15439,17406
2024-08-31,16034,17960
2024-09-30,16000,18416
2024-10-31,15045,17480
2024-11-30,15011,17335
2024-12-31,14507,16965
2025-01-31,15055,17686
2025-02-28,15018,17699
2025-03-31,14287,17297
2025-04-30,14872,18002
2025-05-31,15508,18911
2025-06-30,15873,19661
2025-07-31,15756,19422
2025-08-31,16020,19970
2025-09-30,16144,20784
2025-10-31,16283,21285
2025-11-30,15639,20902
2025-12-31,15831,21316
2026-01-31,16312,22493
2026-02-28,16437,23385
2026-03-31,15225,20545
2026-04-30,16578,22837
2026-05-31,17280,24112

The Hypothetical Growth graph compares a hypothetical investment in the Fund to the performance of the Index for the stated time period. Returns reflect reinvestment of dividends and capital gains, if any, as well as all fees and expenses.

Distributions

            Categories,Total ($)
            2007-12-24,0.36740
2008-12-31,0.04967
2013-11-19,0.56811
2014-11-19,0.98096
2017-11-17,0.81162
2018-11-15,0.74833
2019-11-14,0.11220
2020-11-19,0.37721
2021-11-18,1.98979
2024-11-21,1.88807
2025-11-20,0.23002

            Ex-Date, Payable Date,Total ($),Income ($),ST Cap Gains ($),LT Cap Gains ($)
2007-12-24,1198454400,0.36740,0,0.36740,0.00000
2008-12-26,1230681600,0.04967,0.04967,0,0
2013-11-19,1384819200,0.56811,0,0.21987,0.34824
2014-11-19,1416355200,0.98096,0,0.00000,0.98096
2017-11-17,1510876800,0.81162,0,0.05081,0.76081
2018-11-15,1542240000,0.74833,0,0.00000,0.74833
2019-11-14,1573689600,0.11220,0,0.00000,0.11220
2020-11-19,1605744000,0.37721,0,0.30139,0.07582
2021-11-18,1637193600,1.98979,0,0.06248,1.92731
2024-11-21,1732147200,1.88807,0,0.00000,1.88807
2025-11-20,1763596800,0.23002,0,0.00000,0.23002

Distributions

(As of 20 Nov 2025)

Ex-Date

Payable Date

Total ($)

Income ($)

ST Cap Gains ($)

LT Cap Gains ($)

24 Dec 2007

0.36740

—

0.36740

0.00000

26 Dec 2008

31 Dec 2008

0.04967

—

19 Nov 2013

0.56811

—

0.21987

0.34824

19 Nov 2014

0.98096

—

0.00000

0.98096

17 Nov 2017

0.81162

—

0.05081

0.76081

15 Nov 2018

0.74833

—

0.00000

0.74833

14 Nov 2019

0.11220

—

0.00000

0.11220

19 Nov 2020

0.37721

—

0.30139

0.07582

18 Nov 2021

1.98979

—

0.06248

1.92731

21 Nov 2024

1.88807

—

0.00000

1.88807

20 Nov 2025

0.23002

—

0.00000

0.23002

Fund Facts

(As of 31 May 2026)

Net Fund Assets

$695.2 M

Benchmark

MSCI ACWI ex-U.S. Growth Index

Morningstar Category

Foreign Large Growth

Fund Symbol

TIGCX

Share Class

Share Class Inception Date

1 Feb 2007

Distribution Frequency

Annually

Characteristics

Portfolio

(As of 31 May 2026)

Portfolio

Benchmark

Number of Holdings

—

Weighted Average Market Cap

$475.7 B

$304.2 B

Median Market Cap

$52.0 B

$15.5 B

Annual Portfolio Turnover

29%

—

Price to Earnings - Forward 1YR

22.2x

18.8x

Portfolio

Benchmark

Price to Earnings - Trailing 12 Months

27.1x

26.0x

Price to Cash Flow

19.5x

16.1x

Price to Book Value

5.5x

4.2x

Active Share

78.3%

—

Risk & Return Profile

(As of 31 May 2026)

10y

Annualized Alpha (%)

-3.89

-4.17

-1.96

Beta

0.86

0.97

0.99

R-Squared (%)

87.35

91.23

87.32

Standard Deviation (%)

14.15

17.28

16.45

Sharpe Ratio

0.38

-0.16

0.27

Information Ratio

-1.25

-0.90

-0.40

Up Capture (%)

78.07

89.18

95.47

Down Capture (%)

96.46

107.61

105.87

Past performance does not guarantee future results.

Risk & Return Profile metrics are based on the I share class.

Portfolio

Top Holdings

(As of 30 Apr 2026)

Name

Ticker/Symbol

Sector

Weight %

Taiwan Semiconductor Manufacturing Co. Ltd.

2330

Information Technology

12.6

Tencent Holdings Ltd.

700

Communication Services

6.1

ASML Holding N.V.

ASML

Information Technology

4.6

AstraZeneca plc

AZN

Health Care

4.0

Hoya Corp.

7741

Health Care

3.9

Mastercard, Inc.

Financials

3.8

Ferrari N.V.

RACE

Consumer Discretionary

2.8

Advanced Micro Devices, Inc.

AMD

Information Technology

2.8

Rolls-Royce Holdings plc

RR/

Industrials

2.7

Lonza Group AG

LONN

Health Care

2.6

Download Holdings

Portfolio holdings are subject to change daily.

Exposure Breakdown

(As of 31 May 2026)

Sector Allocation

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

Information Technology

40.0

29.4

Industrials

15.9

21.8

Financials

12.7

10.3

Health Care

11.1

9.1

Communication Services

7.8

5.3

Consumer Discretionary

7.7

10.0

Cash & Equivalents

1.9

—

Materials

1.7

6.8

Utilities

1.2

Consumer Staples

0.0

4.4

Energy

0.0

0.9

Real Estate

0.0

0.7

Sector Allocation

Fund (%)

Information Technology

40.0

Industrials

15.9

Financials

12.7

Health Care

11.1

Communication Services

7.8

Consumer Discretionary

7.7

Cash & Equivalents

1.9

Materials

1.7

Utilities

1.2

Consumer Staples

0.0

Energy

0.0

Real Estate

0.0

Top 10 Industries

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

15%

20%

25%

30%

Semiconductors & Semiconductor Equipment

26.7

19.1

Capital Goods

15.3

17.5

Technology Hardware & Equipment

8.2

6.8

Financial Services

8.2

4.3

Media & Entertainment

7.8

3.6

Pharmaceuticals, Biotechnology & Life Sciences

6.5

7.3

Software & Services

5.1

3.5

Health Care Equipment & Services

4.6

1.8

Banks

3.5

4.3

Consumer Discretionary Distribution & Retail

3.5

3.7

Top 10 Industries

Fund (%)

Semiconductors & Semiconductor Equipment

26.7

Capital Goods

15.3

Technology Hardware & Equipment

8.2

Financial Services

8.2

Media & Entertainment

7.8

Pharmaceuticals, Biotechnology & Life Sciences

6.5

Software & Services

5.1

Health Care Equipment & Services

4.6

Banks

3.5

Consumer Discretionary Distribution & Retail

3.5

Top 10 Countries

Fund (%)

Benchmark (%)

Region

Portfolio

Benchmark

10%

15%

20%

Taiwan

14.9

9.3

Asia Pacific ex Japan

Netherlands

11.3

5.0

Europe ex UK

United States

9.9

—

North America

China

9.6

6.5

Asia Pacific ex Japan

United Kingdom

9.2

6.7

Japan

8.3

13.6

Japan

Italy

6.1

1.0

Europe ex UK

France

5.2

6.6

Europe ex UK

Switzerland

4.9

6.0

Europe ex UK

Germany

4.2

5.5

Europe ex UK

Top 10 Countries

Fund (%)

Taiwan

14.9

Netherlands

11.3

United States

9.9

China

9.6

United Kingdom

9.2

Japan

8.3

Italy

6.1

France

5.2

Switzerland

4.9

Germany

4.2

Capitalization

Fund (%)

Benchmark (%)

Fund

Benchmark

10%

20%

30%

40%

50%

60%

70%

80%

90%

100%

Large Cap (> $12 B)

90.1

92.8

Mid Cap ($2.5 to $12 B)

8.1

7.2

Small Cap (< $2.5 B)

1.8

0.0

Capitalization

Fund (%)

Large Cap (> $12 B)

90.1

Mid Cap ($2.5 to $12 B)

8.1

Small Cap (< $2.5 B)

1.8

Holdings with the Geography breakdown are classified by country of risk as determined by MSCI and Bloomberg.

Weights are percentages of the total portfolio unless otherwise noted.

May not add up to 100% due to rounding.

Cash and Equivalents includes cash, short-term securities, other assets less liabilities, accruals, derivatives and forwards. It may also include investments in money market or similar funds managed by Thornburg that are not offered to the public.

Portfolio Managers

Sean Koung Sun, CFA

Portfolio Manager and Managing Director

Sean Sun is a portfolio manager for Thornburg Investment Management. He joined the firm in 2012 as an equity research analyst and was promoted to associate portfolio manager in 2015 and portfolio manager in 2017. Sean holds an MBA with concentrations in finance and entrepreneurship from the University of Chicago Booth School of Business and a BA in economics from…

Learn More

Nicholas Anderson, CFA

Portfolio Manager and Managing Director

Nicholas Anderson is a portfolio manager for Thornburg Investment Management. He joined the firm in 2016 as an equity research analyst, was promoted to senior equity research analyst in 2020, an associate portfolio manager in early 2021, and portfolio manager in late 2021. Nick holds an MBA with honors from the University of Chicago Booth School of Business and a…

Learn More

Literature

Fact Sheet

Commentary

Summary Prospectus

Annual Financial Statements

Semi-Annual Financial Statements

Prospectus

Statement of Additional Information (SAI)

Annual TSR

Semi-Annual TSR

Important Information

Before investing, carefully consider the Fund's investment goals, risks, charges, and expenses. For a prospectus or summary prospectus containing this and other information, contact your financial advisor or visit thornburg.com. Read them carefully before investing.

Investments carry risks, including possible loss of principal. Additional risks may be associated with investments outside the United States, especially in emerging markets, including currency fluctuations, illiquidity, volatility, and political and economic risks. Investments in small- and mid-capitalization companies may increase the risk of greater price fluctuations. Investments in the Fund are not FDIC insured, nor are they bank deposits or guaranteed by a bank or any other entity.

The performance of any index is not indicative of the performance of any particular investment. Unless otherwise noted, index returns reflect the reinvestment of income dividends and capital gains, if any, but do not reflect fees, brokerage commissions or other expenses of investing. Investors may not make direct investments into any index.

Diversification does not assure or guarantee better performance and cannot eliminate the risk of investment losses.

Funds invested in a limited number of holdings may expose an investor to greater volatility.

Class R shares are limited to retirement platforms only.

Class I shares may not be available to all investors. Minimum investments for the I share class may be higher than those for other classes.

There is no guarantee that the Fund will meet its investment objectives.

To determine a fund's Morningstar Rating™, funds and other managed products with at least a three-year history are ranked in their categories by their Morningstar Risk-Adjusted Return scores. The top 10% receive 5 stars; the next 22.5%, 4 stars; the middle 35%, 3 stars; the next 22.5%, 2 stars; and the bottom 10% receive 1 star. The Risk-Adjusted Return accounts for variation in a managed product's monthly excess performance (excluding sales charges), placing more emphasis on downward variations and rewarding consistent performance. Other share classes may have different performance characteristics.

© 2026 Morningstar, Inc. All Rights Reserved. The information contained herein: (1) is proprietary to Morningstar and/or its content providers; (2) may not be copied or distributed; and (3) is not warranted to be accurate, complete or timely. Neither Morningstar nor its content providers are responsible for any damages or losses arising from any use of this information. Past performance is no guarantee of future results.

Please see our glossary for a definition of terms.

Thornburg mutual funds are distributed by Thornburg Securities LLC.

Thornburg Investment Management, Inc. mutual funds are sold through investment professionals including investment advisors, brokerage firms, bank trust departments, trust companies and certain other financial intermediaries. Thornburg Securities LLC (TSL) does not act as broker of record for investors.

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TIGCX

Thornburg International Growth Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

Sean Koung Sun, CFA

Nicholas Anderson, CFA

Literature

Important Information

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TIGCX

Thornburg International Growth Fund

Portfolio Managers

Overview

Why Invest in This Fund?

Investment Objective

Investment Approach

Related Content

Performance

Returns

Fund Fees

Hypothetical Growth of $10,000

Distributions

Fund Facts

Characteristics

Portfolio

Risk & Return Profile

Portfolio

Top Holdings

Exposure Breakdown

Portfolio Managers

Sean Koung Sun, CFA

Nicholas Anderson, CFA

Literature

Important Information

More Insights

A Disinflationary Paradox of High Oil Prices

Oil Shock Hits Different in a World of Shrinking Petrodollars

Structural Forces Are Reshaping the Investment Landscape