Thornburg International Growth Fund

Top Ten Countries as of

  1. China
    13.4%
  2. United States
    12.8%
  3. United Kingdom
    11.2%
  4. Germany
    9.7%
  5. France
    9.4%
  6. Japan
    7.6%
  7. Hong Kong
    4.5%
  8. Ireland
    4.4%
  9. Netherlands
    4.0%
  10. Australia
    3.9%
Holdings are classified by country of risk as determined by MSCI and Bloomberg.

Sector Allocation as of

Consumer Discretionary
21.5%
Information Technology
17.2%
Communication Services
15.1%
Health Care
12.0%
Consumer Staples
11.6%
Industrials
5.4%
Financials
5.1%
Energy
2.4%
Cash & Cash Equivalents
9.8%

Top Ten Industry Groups as of

Media & Entertainment
15.1%
Software & Services
13.9%
Retailing
12.2%
Food, Beverage & Tobacco
9.5%
Pharma, Biotech & Life Sciences
7.8%
Consumer Services
7.1%
Health Care Equipment & Services
4.2%
Diversified Financials
4.1%
Commercial & Professional Services
3.7%
Semiconductors & Equipment
3.3%

Top Ten Positions as of

% OF PORTFOLIO
Alibaba Group Holding Ltd. 4.0%
AstraZeneca plc 3.7%
Tencent Holdings Ltd. 3.6%
Danone S.A. 2.7%
Fomento Economico Mexicano S.A.B. de C.V. 2.6%
TAL Education Group 2.6%
Lonza Group AG 2.5%
Royal Dutch Shell plc 2.4%
Wirecard AG 2.4%
Galaxy Entertainment Group Ltd. 2.3%
Portfolio holdings are subject to change.

Key Portfolio Attributes as of

Fund Assets $1.4 B
Portfolio P/E Forecast 12 Months* 25.3x
Portfolio P/E Trailing 12 Months* 28.7x
Portfolio Price to Cash Flow* 15.7x
Portfolio Price to Book* 4.4x
Median Market Capitalization* $19.8 B
Number of Holdings 48
7-Year Beta* (A Shares vs. MSCI AC World ex-U.S. Growth Index) 0.99
Emerging Markets Exposure 27.8%
Active Share* (vs. MSCI AC World ex-U.S. Growth Index) 88.6%
* Source: FactSet

Portfolio Composition as of

Growth Industry Leaders
32.6%
Consistent Growth
31.3%
Emerging Growth
26.3%
Cash & Cash Equivalents
9.8%
The percentages may not add up to 100 due to rounding.

Capitalization Exposure as of

Large Cap (> $12 B)
71.4%
Mid Cap ($2.5 to $12 B)
26.8%
Small Cap (< $2.5 B)
1.8%
The percentages may not add up to 100 due to rounding.
Important Information