Thornburg International Growth Fund

Top Ten Countries as of

  1. China
    16.1%
  2. United States
    13.7%
  3. United Kingdom
    11.1%
  4. Germany
    10.2%
  5. France
    10.2%
  6. Japan
    6.8%
  7. Netherlands
    6.7%
  8. Australia
    4.3%
  9. Switzerland
    3.4%
  10. Taiwan
    3.4%
Holdings are classified by country of risk as determined by MSCI and Bloomberg.

Sector Allocation as of

Information Technology
27.3%
Consumer Discretionary
19.0%
Communication Services
16.9%
Health Care
13.9%
Consumer Staples
6.3%
Industrials
4.3%
Financials
3.8%
Energy
1.4%
Cash & Cash Equivalents
7.1%

Top Ten Industry Groups as of

Software & Services
20.0%
Media & Entertainment
16.9%
Retailing
11.8%
Pharma, Biotech & Life Sciences
9.6%
Semiconductors & Equipment
7.3%
Food, Beverage & Tobacco
6.0%
Health Care Equipment & Services
4.3%
Consumer Durables & Apparel
4.1%
Diversified Financials
3.8%
Consumer Services
3.1%

Top Ten Positions as of

% OF PORTFOLIO
Alibaba Group Holding Ltd. 6.0%
Tencent Holdings Ltd. 4.9%
AstraZeneca plc 4.1%
Wirecard AG 3.3%
Lonza Group AG 3.2%
Activision Blizzard, Inc. 3.0%
Adyen N.V. 2.9%
Kerry Group plc 2.6%
adidas AG 2.6%
SK Hynix, Inc. 2.5%
Portfolio holdings are subject to change.

Key Portfolio Attributes as of

Fund Assets $1.3 B
Portfolio P/E Forecast 12 Months* 28.6x
Portfolio P/E Trailing 12 Months* 30.4x
Portfolio Price to Cash Flow* 17.9x
Portfolio Price to Book* 4.7x
Median Market Capitalization* $22.1 B
Number of Holdings 48
7-Year Beta* (A Shares vs. MSCI AC World ex-U.S. Growth Index) 0.99
Emerging Markets Exposure 25.8%
Active Share* (vs. MSCI AC World ex-U.S. Growth Index) 82.2%
* Source: FactSet

Portfolio Composition as of

Growth Industry Leaders
31.0%
Consistent Growth
27.1%
Emerging Growth
34.8%
Cash & Cash Equivalents
7.1%
The percentages may not add up to 100 due to rounding.

Capitalization Exposure as of

Large Cap (> $12 B)
75.1%
Mid Cap ($2.5 to $12 B)
20.9%
Small Cap (< $2.5 B)
4.0%
The percentages may not add up to 100 due to rounding.
Important Information