Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
49
Top-10 weight
32.95%
Effective holdings
?
The number of equal-weight positions that would produce this portfolio's concentration (1 ÷ Herfindahl index). A 500-stock fund dominated by a few mega-caps might have only ~100 effective holdings.
39
Crowding
?
The value-weighted average number of funds that also own this fund's positions. High = consensus/crowded picks; low = holdings few other funds own.
493.0
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | Thornburg Capital Management Fund | — | 37,588,889 | $375.89M | 7.34% |
| 2 | TOTALENERGIES SE | — | 1,980,913 | $181.80M | 3.55% |
| 3 | ASTRAZENECA PLC | — | 801,091 | $156.65M | 3.06% |
| 4 | GLENCORE PLC | — | 19,732,360 | $149.45M | 2.92% |
| 5 | ORANGE | — | 7,150,678 | $146.61M | 2.86% |
| 6 | MITSUBISHI UFJ F | — | 8,371,131 | $141.76M | 2.77% |
| 7 | BNP PARIBAS | — | 1,444,569 | $137.61M | 2.69% |
| 8 | CANADIAN PACIFIC KANSAS CITY LTD | — | 1,668,959 | $131.28M | 2.57% |
| 9 | ENDESA | — | 3,096,173 | $129.12M | 2.52% |
| 10 | ING GROEP NV | — | 4,937,910 | $128.17M | 2.50% |
| 11 | NN GROUP | — | 1,626,567 | $127.03M | 2.48% |
| 12 | SCHNEIDER ELECTR | — | 459,938 | $125.28M | 2.45% |
| 13 | SAMSUNG ELECTRONICS CO LTD | — | 1,062,525 | $124.27M | 2.43% |
| 14 | E.ON SE | — | 5,593,466 | $122.51M | 2.39% |
| 15 | ROCHE HOLDING AG | — | 300,285 | $119.84M | 2.34% |
| 16 | IBERDROLA SA | — | 5,195,927 | $118.96M | 2.32% |
| 17 | ALIMENTATION COUCHE-TARD INC | — | 2,093,783 | $118.68M | 2.32% |
| 18 | TAIWAN SEMIC MFG CO LTD SP ADR | — | 337,037 | $113.90M | 2.23% |
| 19 | ENEL SPA | — | 10,362,263 | $113.29M | 2.21% |
| 20 | TENCENT HOLDINGS LTD | — | 1,777,765 | $112.13M | 2.19% |
| 21 | HITACHI LTD | — | 3,787,346 | $111.10M | 2.17% |
| 22 | L'OREAL SA ORD | — | 268,668 | $109.69M | 2.14% |
| 23 | MITSUB ELEC CORP | — | 3,342,282 | $109.32M | 2.14% |
| 24 | BABA-W | — | 6,909,458 | $108.30M | 2.12% |
| 25 | LINDE PLC | — | 210,009 | $104.57M | 2.04% |
| 26 | KEYENCE CORP | — | 288,203 | $102.57M | 2.00% |
| 27 | SONY GROUP CORP | — | 4,886,776 | $101.85M | 1.99% |
| 28 | SAFRAN SA | — | 304,035 | $99.49M | 1.94% |
| 29 | FERROVIAL SE | — | 1,455,346 | $94.68M | 1.85% |
| 30 | ABB Ltd. (Registered) | ABLZF | 1,158,460 | $94.19M | 1.84% |
| 31 | DHL GROUP | — | 1,679,639 | $88.53M | 1.73% |
| 32 | MEITUAN-W | — | 7,999,629 | $87.29M | 1.71% |
| 33 | ALCON INC | — | 1,114,915 | $84.01M | 1.64% |
| 34 | GENERALI ASSIC | — | 2,087,470 | $83.98M | 1.64% |
| 35 | KWEICHOW MOUTAI CO LTD A | — | 396,989 | $83.60M | 1.63% |
| 36 | MTU AERO ENGINES | — | 216,221 | $78.88M | 1.54% |
| 37 | FREEPORT MCMORAN INC | — | 1,336,687 | $78.57M | 1.54% |
| 38 | BANK CENTRAL ASI | — | 184,933,077 | $71.44M | 1.40% |
| 39 | RECRUIT HOLDINGS | — | 1,540,336 | $67.11M | 1.31% |
| 40 | B3 SA | — | 18,384,035 | $65.30M | 1.28% |
| 41 | FUJIFILM HOLDING | — | 3,359,334 | $64.01M | 1.25% |
| 42 | KANZHUN LTD CL A ADR | BZ US | 4,703,923 | $62.99M | 1.23% |
| 43 | JAPAN EXCHANGE G | — | 5,275,400 | $61.61M | 1.20% |
| 44 | L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | AIQUF | 266,740 | $55.13M | 1.08% |
| 45 | SAP SE | — | 322,708 | $55.02M | 1.07% |
| 46 | SHELL PLC | — | 1,084,513 | $50.71M | 0.99% |
| 47 | DIAGEO PLC | — | 1,763,191 | $32.79M | 0.64% |
| 48 | LVMH MOET HENNESSY LOUIS VUITTON SE | MC | 23,564 | $12.88M | 0.25% |
| 49 | CONSTELLATION-28 | — | 16,647 | $1 | 0.00% |
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