Thornburg Core Growth Fund

Sector Allocation as of

Information Technology
24.9%
Consumer Discretionary
19.9%
Communication Services
18.2%
Health Care
7.4%
Industrials
6.1%
Financials
6.0%
Consumer Staples
4.0%
Energy
2.6%
Materials
1.9%
Cash & Cash Equivalents
9.1%

Top Ten Industry Groups as of

Software & Services
20.3%
Media & Entertainment
18.2%
Retailing
16.1%
Commercial & Professional Services
6.1%
Health Care Equipment & Services
4.4%
Food, Beverage & Tobacco
4.0%
Diversified Financials
3.9%
Consumer Services
3.8%
Pharma, Biotech & Life Sciences
3.0%
Energy
2.6%

Top Ten Positions as of

% OF PORTFOLIO
Amazon.com, Inc. 4.7%
Visa, Inc. 3.5%
Alphabet, Inc. 3.3%
Booking Holdings, Inc. 3.2%
Expedia Group, Inc. 3.2%
Facebook, Inc. 3.1%
Comcast Corp. 2.9%
FleetCor Technologies, Inc. 2.9%
Activision Blizzard, Inc. 2.8%
The TJX Cos, Inc. 2.5%
Portfolio holdings are subject to change.

Key Portfolio Attributes as of

Fund Assets $647.8 M
Portfolio P/E Forecast 12 Months* 23.6x
Portfolio P/E Trailing 12 Months* 25.4x
Portfolio Price to Cash Flow* 14.8x
Portfolio Price to Book* 4.3x
Median Market Capitalization* $30.1 B
Number of Holdings 46
7-Year Beta* (A Shares vs. Russell 3000 Growth Index) 1.04
Active Share* (vs. Russell 3000 Growth Index) 78.7%
* Source: FactSet

Portfolio Composition as of

Growth Industry Leaders
41.7%
Consistent Growth
27.1%
Emerging Growth
22.1%
Cash & Cash Equivalents
9.1%
The percentages may not add up to 100 due to rounding.

Capitalization Exposure as of

Large Cap (> $12 B)
80.9%
Mid Cap ($2.5 to $12 B)
19.1%
Small Cap (< $2.5 B)
0.0%
The percentages may not add up to 100 due to rounding.
Important Information