Thornburg Developing World Fund

Sector Allocation as of

Financials
25.2%
Consumer Discretionary
16.8%
Information Technology
16.7%
Communication Services
10.6%
Energy
9.0%
Industrials
8.0%
Consumer Staples
5.9%
Health Care
3.6%
Materials
2.7%
Utilities
1.6%

TEN LARGEST HOLDINGS as of

% OF PORTFOLIO
Alibaba Group Holding Ltd. 7.6%
Tencent Holdings Ltd. 5.9%
Samsung Electronics Co. Ltd. 5.8%
Taiwan Semiconductor Manufacturing Co. Ltd. 5.2%
Industrial & Commercial Bank of China Ltd. 4.0%
AIA Group Ltd. 3.9%
Petroleo Brasileiro S.A. 3.0%
Unilever N.V. 2.9%
HDFC Bank Ltd. 2.8%
Micron Technology, Inc. 2.8%
Portfolio holdings are subject to change.

Key Portfolio Attributes as of

Fund Assets $12.8 M
Dividend Yield 1.8%
Portfolio P/E Forward 12 Months 17.6x
Portfolio Price to Cash Flow* 11.1x
Portfolio Price to Book* 2.6x
Median Market Capitalization* $21.8 B
Number of Holdings 51
5-Year Beta† (I Shares vs. MSCI Emerging Markets Index) 0.86
* Source: FactSet
† Source: Morningstar

Regional Diversification as of

Asia Pacific ex-Japan
58.7%
Latin America
21.2%
Europe ex-UK
8.6%
UK
5.2%
North America
4.6%
Other
1.7%
Holdings are classified by country of risk as determined by MSCI and Bloomberg. The percentages may not add up to 100 due to rounding.

Capitalization Exposure as of

Large Cap (> $12 B)
75.5%
Mid Cap ($2.5 to $12 B)
22.5%
Small Cap (< $2.5 B)
2.0%
The percentages may not add up to 100 due to rounding.
Important Information