0001752724-24-186488.txt : 20240822 0001752724-24-186488.hdr.sgml : 20240822 20240822141324 ACCESSION NUMBER: 0001752724-24-186488 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240822 DATE AS OF CHANGE: 20240822 PERIOD START: 20240930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: THORNBURG INVESTMENT TRUST CENTRAL INDEX KEY: 0000816153 ORGANIZATION NAME: IRS NUMBER: 061158764 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-05201 FILM NUMBER: 241231468 BUSINESS ADDRESS: STREET 1: 2300 NORTH RIDGETOP ROAD CITY: SANTA FE STATE: NM ZIP: 87506-8361 BUSINESS PHONE: 5059840200 MAIL ADDRESS: STREET 1: 2300 NORTH RIDGETOP ROAD CITY: SANTA FE STATE: NM ZIP: 87506-8361 FORMER COMPANY: FORMER CONFORMED NAME: THORNBURG INCOME TRUST DATE OF NAME CHANGE: 19920703 FORMER COMPANY: FORMER CONFORMED NAME: LIMITED TERM TRUST DATE OF NAME CHANGE: 19870816 0000816153 S000012859 Thornburg Global Opportunities Fund C000034775 Thornburg Global Opportunities Fund - Class A THOAX C000034776 Thornburg Global Opportunities Fund - Class C THOCX C000034777 Thornburg Global Opportunities Fund - Class I THOIX C000058462 Thornburg Global Opportunities Fund - Class R3 THORX C000058463 Thornburg Global Opportunities Fund - Class R4 THOVX C000058464 Thornburg Global Opportunities Fund - Class R5 THOFX C000177480 Thornburg Global Opportunities Fund - Class R6 THOGX NPORT-P 1 primary_doc.xml NPORT-P false 0000816153 XXXXXXXX S000012859 C000058462 C000034775 C000034776 C000177480 C000034777 C000058464 C000058463 THORNBURG INVESTMENT TRUST 811-05201 0000816153 5493001XM52H8S4WYY82 2300 NORTH RIDGETOP ROAD SANTA FE 87506-8361 505-984-0200 Thornburg Global Opportunities Fund S000012859 54930073SXOZ30XCR422 2024-09-30 2024-06-30 N 1265326898.81 5420998.16 1259905900.65 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 501407.87000000 N L3Harris Technologies Inc 549300UTE50ZMDBG8A20 L3Harris Technologies Inc 502431109 72951.00000000 NS USD 16383335.58000000 1.300361842225 Long EC CORP US N 1 N N N Tesco PLC 2138002P5RNKC5W2JZ46 Tesco PLC 000000000 4801589.00000000 NS 18573239.19000000 1.474176696880 Long EC CORP GB N 1 N N N SAP SE 529900D6BF99LW9R2E68 SAP SE 000000000 193826.00000000 NS 39340191.19000000 3.122470588454 Long EC CORP DE N 1 N N N BNP Paribas SA R0MUWSFPU8MPRO8K5P83 BNP Paribas SA 000000000 698676.00000000 NS 44543167.10000000 3.535436025580 Long EC CORP FR N 1 N N N Citigroup Inc 6SHGI4ZSSLCXXQSBB395 Citigroup Inc 172967424 776297.00000000 NS USD 49263807.62000000 3.910118017114 Long EC CORP US N 1 N N N Samsung Electronics Co Ltd 9884007ER46L6N7EI764 Samsung Electronics Co Ltd 000000000 1069122.00000000 NS 63300721.39000000 5.024241997544 Long EC CORP KR N 1 N N N Reliance Industries Ltd 5493003UOETFYRONLG31 Reliance Industries Ltd 000000000 1366133.00000000 NS 51249954.22000000 4.067760472711 Long EC CORP IN N 1 N N N Alphabet Inc 5493006MHB84DD0ZWV18 Alphabet Inc 02079K305 369578.00000000 NS USD 67318632.70000000 5.343147664065 Long EC CORP US N 1 N N N Roche Holding AG 549300U41AUUVOAAOB37 Roche Holding AG 000000000 61299.00000000 NS 17022761.98000000 1.351113759465 Long EC CORP CH N 1 N N N Alibaba Group Holding Ltd 5493001NTNQJDH60PM02 Alibaba Group Holding Ltd 01609W102 345069.00000000 NS USD 24844968.00000000 1.971970127862 Long EC CORP KY N 1 N N N Coca-Cola Icecek AS 789000WT80VVLUWJDK41 Coca-Cola Icecek AS 000000000 1035379.00000000 NS 26189851.52000000 2.078714887079 Long EC CORP TR N 1 N N N TotalEnergies SE 529900S21EQ1BO4ESM68 TotalEnergies SE 000000000 698605.00000000 NS 46633520.37000000 3.701349469507 Long EC CORP FR N 1 N N N OCI NV 549300NCMRGIBJYUOE57 OCI NV 000000000 1191376.00000000 NS 29077867.78000000 2.307939645730 Long EC CORP NL N 1 N N N Thornburg Capital Management Fund 549300GLR0WG6ALV5277 Thornburg Capital Management Fund 885216739 3823615.65000000 NS USD 38236156.52000000 3.034842244986 Long EC RF US N 1 N N N State Street Bank & Trust Co. 571474TGEMMWANRLN572 PURCHASED USD / SOLD EUR 000000000 1.00000000 NC 156315.42000000 0.012406912287 N/A DFE US N 2 State Street Bank & Trust Co. 571474TGEMMWANRLN572 74367000.00000000 EUR 80104488.42000000 USD 2024-09-20 156315.42000000 N N N Techtronic Industries Co Ltd 549300HZW2SBE758OK89 Techtronic Industries Co Ltd 000000000 1731669.00000000 NS 19780238.93000000 1.569977481635 Long EC CORP HK N 1 N N N Galaxy Entertainment Group Ltd 549300ZSEBV3HR826S10 Galaxy Entertainment Group Ltd 000000000 6315927.00000000 NS 29440167.86000000 2.336695767899 Long EC CORP HK N 1 N N N TJX Cos Inc/The V167QI9I69W364E2DY52 TJX Cos Inc/The 872540109 310471.00000000 NS USD 34182857.10000000 2.713127788540 Long EC CORP US N 1 N N N Vestas Wind Systems A/S 549300DYMC8BGZZC8844 Vestas Wind Systems A/S 000000000 789850.00000000 NS 18289078.32000000 1.451622562491 Long EC CORP DK N 1 N N N State Street Bank & Trust Co. 571474TGEMMWANRLN572 PURCHASED USD / SOLD GBP 000000000 1.00000000 NC 82405.86000000 0.006540636086 N/A DFE US N 2 State Street Bank & Trust Co. 571474TGEMMWANRLN572 16085100.00000000 GBP 20427465.77000000 USD 2024-09-20 82405.86000000 N N N Bank of Ireland Group PLC 635400C8EK6DRI12LJ39 Bank of Ireland Group PLC 000000000 4803087.00000000 NS 50245305.30000000 3.988020476297 Long EC CORP IE N 1 N N N AT&T Inc 549300Z40J86GGSTL398 AT&T Inc 00206R102 1513844.00000000 NS USD 28929558.84000000 2.296168215822 Long EC CORP US N 1 N N N Deutsche Telekom AG 549300V9QSIG4WX4GJ96 Deutsche Telekom AG 000000000 955691.00000000 NS 24031726.56000000 1.907422335874 Long EC CORP DE N 1 N N N Zegona Communications plc 213800ASI1VZL2ED4S65 Zegona Communications plc 000000000 5429333.00000000 NS 18118892.50000000 1.438114742589 Long EC CORP GB N 1 N N N Mineral Resources Ltd 5299007V1ACKFFX2P066 Mineral Resources Ltd 000000000 549665.00000000 NS 19771462.80000000 1.569280911360 Long EC CORP AU N 1 N N N Freeport-McMoRan Inc 549300IRDTHJQ1PVET45 Freeport-McMoRan Inc 35671D857 853306.00000000 NS USD 41470671.60000000 3.291568963888 Long EC CORP US N 1 N N N Charles Schwab Corp/The 549300VSGCJ7E698NM85 Charles Schwab Corp/The 808513105 722760.00000000 NS USD 53260184.40000000 4.227314466304 Long EC CORP US N 1 N N N Meta Platforms Inc BQ4BKCS1HXDV9HN80Z93 Meta Platforms Inc 30303M102 154324.00000000 NS USD 77813247.28000000 6.176115790858 Long EC CORP US N 1 N N N Pfizer Inc 765LHXWGK1KXCLTFYQ30 Pfizer Inc 717081103 527359.00000000 NS USD 14755504.82000000 1.171159275656 Long EC CORP US N 1 N N N Converge Information and Communications Technology Solutions Inc 254900CGJPNECN6ENN96 Converge Information and Communications Technology Solutions Inc 000000000 53806615.00000000 NS 10557697.15000000 0.837975053895 Long EC CORP PH N 1 N N N Round One Corp N/A Round One Corp 000000000 2005146.00000000 NS 10294304.16000000 0.817069287054 Long EC CORP JP N 1 N N N Barratt Developments PLC 2138006R85VEOF5YNK29 Barratt Developments PLC 000000000 3573789.00000000 NS 21332223.87000000 1.693160089098 Long EC CORP GB N 1 N N N Shell PLC 21380068P1DRHMJ8KU70 Shell PLC 000000000 937260.00000000 NS 33721284.82000000 2.676492331895 Long EC CORP GB N 1 N N N NN Group NV 724500OHYNDT9OY6Q215 NN Group NV 000000000 636830.00000000 NS 29633481.66000000 2.352039278862 Long EC CORP NL N 1 N N N CACI International Inc SYRPI2D1O9WRTS2WX210 CACI International Inc 127190304 76712.00000000 NS USD 32996132.56000000 2.618936266825 Long EC CORP US N 1 N N N Brown Brothers Harriman & Co. 5493006KMX1VFTPYPW14 PURCHASED USD / SOLD EUR 000000000 1.00000000 NC 136161.96000000 0.010807311873 N/A DFE US N 2 Brown Brothers Harriman & Co. 5493006KMX1VFTPYPW14 74367000.00000000 EUR 80084334.96000000 USD 2024-09-20 136161.96000000 N N N Taiwan Semiconductor Manufacturing Co Ltd 549300KB6NK5SBD14S87 Taiwan Semiconductor Manufacturing Co Ltd 000000000 1577114.00000000 NS 46961210.92000000 3.727358598429 Long EC CORP TW N 1 N N N Builders FirstSource Inc 549300W0SKP6L3H7DP63 Builders FirstSource Inc 12008R107 74167.00000000 NS USD 10265454.47000000 0.814779458109 Long EC CORP US N 1 N N N Tencent Holdings Ltd 254900N4SLUMW4XUYY11 Tencent Holdings Ltd 000000000 537813.00000000 NS 25647365.71000000 2.035657242081 Long EC CORP KY N 1 N N N Booking Holdings Inc FXM8FAOHMYDIPD38UZ17 Booking Holdings Inc 09857L108 7525.00000000 NS USD 29810287.50000000 2.366072536418 Long EC CORP US N 1 N N N Mercedes-Benz Group AG 529900R27DL06UVNT076 Mercedes-Benz Group AG 000000000 400248.00000000 NS 27677658.22000000 2.196803603008 Long EC CORP DE N 1 N N N Capital One Financial Corp ZUE8T73ROZOF6FLBAR73 Capital One Financial Corp 14040H105 144190.00000000 NS USD 19963105.50000000 1.584491785434 Long EC CORP US N 1 N N N 2024-07-26 THORNBURG INVESTMENT TRUST Christopher Luckham Christopher Luckham Manager - Fund Admin XXXX NPORT-EX 2 NPORT_9P14_78099860_0624.htm
SCHEDULE OF INVESTMENTS
Thornburg Global Opportunities Fund June 30, 2024 (Unaudited)

  Issuer-Description SHARES VALUE
  Common Stock — 97.1%    
  Automobiles & Components — 2.2%    
  Automobiles — 2.2%    
  Mercedes-Benz Group AG    400,248 $   27,677,658
                  27,677,658
  Banks — 11.4%    
  Banks — 11.4%    
  Bank of Ireland Group plc  4,803,087     50,245,305
  BNP Paribas SA    698,676     44,543,167
  Citigroup, Inc.    776,297    49,263,808
                 144,052,280
  Capital Goods — 5.1%    
  Aerospace & Defense — 1.3%    
  L3Harris Technologies, Inc.     72,951    16,383,336
  Building Products — 0.8%    
a Builders FirstSource, Inc.     74,167    10,265,454
  Electrical Equipment — 1.4%    
a Vestas Wind Systems AS    789,850    18,289,078
  Machinery — 1.6%    
  Techtronic Industries Co. Ltd.  1,731,669    19,780,239
                  64,718,107
  Commercial & Professional Services — 2.6%    
  Professional Services — 2.6%    
a CACI International, Inc. Class A     76,712    32,996,133
                  32,996,133
  Consumer Discretionary Distribution & Retail — 4.7%    
  Broadline Retail — 2.0%    
  Alibaba Group Holding Ltd. Sponsored ADR    345,069    24,844,968
  Specialty Retail — 2.7%    
  TJX Cos., Inc.    310,471    34,182,857
                  59,027,825
  Consumer Durables & Apparel — 1.7%    
  Household Durables — 1.7%    
  Barratt Developments plc  3,573,789    21,332,224
                  21,332,224
  Consumer Services — 5.5%    
  Hotels, Restaurants & Leisure — 5.5%    
  Booking Holdings, Inc.      7,525     29,810,287
  Galaxy Entertainment Group Ltd.  6,315,927     29,440,168
  Round One Corp.  2,005,146    10,294,304
                  69,544,759
  Consumer Staples Distribution & Retail — 1.5%    
  Consumer Staples Distribution & Retail — 1.5%    
  Tesco plc  4,801,589    18,573,239
                  18,573,239
  Energy — 10.5%    
  Oil, Gas & Consumable Fuels — 10.5%    
  Reliance Industries Ltd.  1,366,133     51,249,954
  Shell plc    937,260     33,721,285
  TotalEnergies SE    698,605    46,633,520
                 131,604,759
  Financial Services — 5.8%    
  Capital Markets — 4.2%    
  Charles Schwab Corp.    722,760    53,260,184
  Consumer Finance — 1.6%    

SCHEDULE OF INVESTMENTS, Continued
Thornburg Global Opportunities Fund June 30, 2024 (Unaudited)

  Issuer-Description SHARES VALUE
  Capital One Financial Corp.    144,190 $   19,963,106
                  73,223,290
  Food, Beverage & Tobacco — 2.1%    
  Beverages — 2.1%    
  Coca-Cola Icecek AS  1,035,379    26,189,852
                  26,189,852
  Insurance — 2.4%    
  Insurance — 2.4%    
  NN Group NV    636,830    29,633,482
                  29,633,482
  Materials — 7.2%    
  Chemicals — 2.3%    
  OCI NV  1,191,376    29,077,868
  Metals & Mining — 4.9%    
  Freeport-McMoRan, Inc.    853,306     41,470,671
  Mineral Resources Ltd.    549,665    19,771,463
                  90,320,002
  Media & Entertainment — 13.6%    
  Interactive Media & Services — 13.6%    
  Alphabet, Inc. Class A    369,578     67,318,633
  Meta Platforms, Inc. Class A    154,324     77,813,247
  Tencent Holdings Ltd.    537,813    25,647,366
                 170,779,246
  Pharmaceuticals, Biotechnology & Life Sciences — 2.5%    
  Pharmaceuticals — 2.5%    
  Pfizer, Inc.    527,359     14,755,505
  Roche Holding AG     61,299    17,022,762
                  31,778,267
  Semiconductors & Semiconductor Equipment — 3.7%    
  Semiconductors & Semiconductor Equipment — 3.7%    
  Taiwan Semiconductor Manufacturing Co. Ltd.  1,577,114    46,961,211
                  46,961,211
  Software & Services — 3.1%    
  Software — 3.1%    
  SAP SE    193,826    39,340,191
                  39,340,191
  Technology Hardware & Equipment — 5.0%    
  Technology Hardware, Storage & Peripherals — 5.0%    
  Samsung Electronics Co. Ltd.  1,069,122    63,300,721
                  63,300,721
  Telecommunication Services — 6.5%    
  Diversified Telecommunication Services — 6.5%    
  AT&T, Inc.  1,513,844     28,929,559
a Converge Information & Communications Technology Solutions, Inc. 53,806,615     10,557,697
  Deutsche Telekom AG    955,691     24,031,727
a Zegona Communications plc  5,429,333    18,118,892
                  81,637,875
  Total Common Stock (Cost $772,047,716)            1,222,691,121
  Short-Term Investments — 3.0%    
b Thornburg Capital Management Fund  3,838,629    38,386,292
  Total Short-Term Investments (Cost $38,386,292)               38,386,292
  Total Investments — 100.1% (Cost $810,434,008)   $1,261,077,413
  Liabilities Net of Other Assets — (0.1)%   (1,443,519)

SCHEDULE OF INVESTMENTS, Continued
Thornburg Global Opportunities Fund June 30, 2024 (Unaudited)

  Issuer-Description SHARES VALUE
  Net Assets — 100.0%   $1,259,633,894
    
Outstanding Forward Currency Contracts To Buy Or Sell At June 30, 2024
Contract
Description
Contract
Party*
Buy/Sell Contract
Amount
Contract
Value Date
Value
USD
Unrealized
Appreciation
Unrealized
Depreciation
Euro BBH Sell 74,367,000 9/20/2024 79,948,173 $   136,162 $  —
Euro SSB Sell 74,367,000 9/20/2024 79,948,173     156,315   —
Great Britain Pound SSB Sell 16,085,100 9/20/2024 20,345,060      82,406   —
Total           $374,883
Net unrealized appreciation (depreciation)           $374,883  
    
* Counterparties include State Street Bank and Trust Company (“SSB”) and Brown Brothers Harriman & Co. (“BBH”).
    
Footnote Legend
a Non-income producing.
b Investment in Affiliates.
Portfolio Abbreviations
To simplify the listings of securities, abbreviations are used per the table below:
ADR American Depositary Receipt

NOTES TO SCHEDULE OF INVESTMENTS
Thornburg Global Opportunities Fund June 30, 2024 (Unaudited)

NOTE 1 – ORGANIZATION
Thornburg Global Opportunities Fund (the “Fund”) is a diversified series of Thornburg Investment Trust (the “Trust”). The Trust is organized as a Massachusetts business trust under a Declaration of Trust dated June 3, 1987 and is registered as a diversified, open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund is currently one of twenty-four separate series of the Trust. Each series is considered to be a separate entity for financial reporting and tax purposes. The Fund currently offers seven classes of shares of beneficial interest: Class A, Class C, Institutional Class (“Class I”), and Retirement Classes (“Class R3”, “Class R4”, “Class R5”, and “Class R6”).
NOTE 2 – SECURITY VALUATION
Valuation of the Fund’s portfolio investment securities is performed by Thornburg Investment Management, Inc., the Trust’s investment advisor (the "Advisor"), which has been designated by the Trustees of the Trust (the "Trustees") as the Fund’s "valuation designee," as that term is defined in rule 2a-5 under the 1940 Act. The Advisor performs this valuation function under the supervision of the Trustees and in accordance with policies and procedures that have been adopted by the Advisor and approved by the Trustees (the “Valuation Policy and Procedures”).
In its capacity as the Fund’s valuation designee, the Advisor makes good faith determinations of the fair value of portfolio securities for which market quotations are not readily available, and otherwise complies with and administers the Valuation Policy and Procedures. The Advisor performs those functions in significant measure through its Valuation and Pricing Committee (the “Committee”), though the Advisor may also obtain the assistance of others, including professional pricing service providers selected and approved by the Committee. In accordance with the Valuation Policy and Procedures, the Committee: assesses and manages the material risks associated with determining the fair value of those Fund investments for which market quotations are not readily available; selects and applies methodologies for determining and calculating such fair values; periodically reviews and tests the appropriateness and accuracy of those methodologies; monitors for circumstances that may necessitate the use of fair value; and approves, monitors, and evaluates pricing services engaged to provide evaluated prices for the Fund’s investments. The Committee provides reports on its activities to the Trustees’ Audit Committee, which is responsible for overseeing the Committee’s and the Advisor’s work in discharging the functions under the Valuation Policy and Procedures.
In those instances when the Committee assists in calculating a fair value for a portfolio investment, the Committee seeks to determine the price that the Fund would reasonably expect to receive upon a sale of the investment in an orderly transaction between market participants on the valuation date. The Committee customarily utilizes quotations from securities broker dealers in calculating valuations, but also may utilize prices obtained from pricing service providers or other methods selected by the Committee. Because fair values calculated by the Committee are estimates, the calculation of a fair value for an investment may differ from the price that would be realized by the Fund upon a sale of the investment, and the difference could be material to the Fund’s financial statements. The Committee’s calculation of a fair value for an investment may also differ from the prices obtained by other persons (including other mutual funds) for the investment.
Valuation of Securities: Securities and other portfolio investments which are listed or traded on a United States securities exchange are generally valued at the last reported sale price on the valuation date or, if there has been no sale of the investment on that date, at the mean between the last reported bid and asked prices for the investment on that date. Portfolio investments reported by NASDAQ are valued at the official closing price on the valuation date. If an investment is traded on more than one exchange, the investment is considered traded on the exchange that is normally the primary market for that investment. For securities and other portfolio investments which are primarily listed or traded on an exchange outside the United States, the time for determining the investment’s value in accordance with the first sentence of this paragraph will be the close of that investment’s primary exchange preceding the Fund’s valuation time.
In any case when a market quotation is not readily available for a portfolio investment ordinarily valued by market quotation, the Committee calculates a fair value for the investment using methodologies selected and approved by the Committee as described in the Valuation Policy and Procedures, subject to changes or additions by the Committee. For this purpose, a market quotation is considered to be readily available if it is a quoted price (unadjusted) in active markets for identical investments that the Fund can access at the measurement date. Pursuant to the Valuation Policy and Procedures, the Committee shall monitor for circumstances that may necessitate the use of fair valuation methodologies, including circumstances in which a market quotation for an investment is no longer reliable or is otherwise not readily available. For that purpose, a market quotation is not readily available when the primary market or exchange for the applicable investment is not open for the entire scheduled day of trading. A market quotation may also not be readily available if: (a) developments occurring after the most recent close of the applicable investment’s primary exchange, but prior to the close of business on any business day; or (b) an unusual event or significant period of time occurring since the availability of the market quotation, create a serious question concerning the reliability of that market quotation. Additionally, a market quotation will be considered unreliable if it would require adjustment under GAAP, or where GAAP would require consideration of additional inputs in determining the value of the investment. The Committee customarily obtains valuations in those instances from pricing service providers approved by the Committee. Such pricing service providers ordinarily calculate valuations using multi-factor models to adjust market prices based upon various inputs, including exchange data, depository receipt prices, futures, index data, and other data.

NOTES TO SCHEDULE OF INVESTMENTS, Continued
Thornburg Global Opportunities Fund June 30, 2024 (Unaudited)

Investments in U.S. mutual funds are valued at net asset value ("NAV") each business day.
Forward currency contracts are valued by a third-party pricing service provider.
Debt obligations held by the Fund which are not listed or traded on exchanges or for which no reported market exists are ordinarily valued at the valuation obtained from a pricing service provider approved by the Committee.
In any case when a pricing service provider fails to provide a valuation for a debt obligation held by the Fund, the Committee may calculate a fair value for the obligation using alternative methods selected and approved by the Committee. Additionally, in cases when the Committee believes that a valuation obtained from a pricing service provider is stale, does not reflect material factors affecting the valuation of the investment, is significantly different than the value the Fund is likely to obtain if it sought a bid for the investment, or is otherwise unreliable, the Committee may calculate a fair value for the obligation using an alternative method selected and approved by the Committee.
If the market quotation for an investment is expressed in a foreign currency, that market quotation will be converted to U.S. dollars using a foreign exchange quotation from a third-party service at the time of valuation. Foreign investments held by the Fund may be traded on days and at times when the Fund is not open for business. Consequently, the value of Fund’s investments may be significantly affected on days when shareholders cannot purchase or sell Fund’s shares.
NOTE 3 – Investments with Affiliates
Shown below are holdings of voting securities of each portfolio company which is considered "affiliated" to the Fund under the 1940 Act, including companies for which the Fund’s holding represented 5% or more of the company’s voting securities, and a series of the Thornburg Investment Trust in which the Fund invested for cash management purposes during the period:
  Market Value
9/30/23
Purchases
at Cost
Sales
Proceeds
Realized
Gain
(Loss)
Change in
Unrealized
Appr./(Depr.)
Market Value
6/30/24
Dividend
Income
Thornburg Capital Mgmt. Fund $28,657,059 $197,430,249 $(187,701,016) $- $- $38,386,292 $1,415,386