Portfolio concentration
As of March 31, 2026 · N-PORT
Holdings
328
Top-10 weight
41.87%
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.
37
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.
638.6
Holdings
As of March 31, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | ORANGE | — | 72,111,380 | $1.48B | 7.01% |
| 2 | Thornburg Capital Management Fund | — | 120,949,115 | $1.21B | 5.73% |
| 3 | TSMC | — | 17,649,261 | $1.02B | 4.84% |
| 4 | CITIGROUP INC | — | 6,986,967 | $792.39M | 3.76% |
| 5 | AT&T INC | — | 27,002,773 | $782.81M | 3.71% |
| 6 | TOTALENERGIES SE | — | 8,285,200 | $760.37M | 3.60% |
| 7 | BNP PARIBAS | — | 7,892,300 | $751.85M | 3.56% |
| 8 | NN GROUP | — | 9,581,916 | $748.31M | 3.55% |
| 9 | SAMSUNG ELECTRONICS CO LTD | — | 5,529,200 | $646.70M | 3.07% |
| 10 | BROADCOM INC | — | 2,029,364 | $628.11M | 2.98% |
| 11 | ZEGONA COMMUNICATIONS PLC | ZEG | 27,593,000 | $607.10M | 2.88% |
| 12 | ENEL SPA | — | 54,735,431 | $598.41M | 2.84% |
| 13 | DEUTSCHE TELEKOM | — | 15,821,300 | $590.50M | 2.80% |
| 14 | TESCO PLC | — | 83,026,330 | $521.82M | 2.47% |
| 15 | Vodafone Group Public Limited Company | VODPF | 327,785,324 | $494.42M | 2.34% |
| 16 | ENDESA | — | 10,955,857 | $456.89M | 2.17% |
| 17 | MERCK & CO | — | 3,559,942 | $428.23M | 2.03% |
| 18 | BANK OF IRELAND GROUP PLC | — | 19,129,250 | $347.07M | 1.65% |
| 19 | BAE SYSTEMS PLC | — | 11,749,400 | $344.47M | 1.63% |
| 20 | KPN (KONIN) NV | — | 59,231,000 | $330.13M | 1.56% |
| 21 | CME GROUP INC CL A | — | 1,063,223 | $314.02M | 1.49% |
| 22 | ASTRAZENECA PLC | — | 1,545,700 | $302.25M | 1.43% |
| 23 | AXA | — | 6,551,100 | $301.03M | 1.43% |
| 24 | TC ENERGY CORP | — | 4,549,089 | $284.86M | 1.35% |
| 25 | DHL GROUP | — | 5,217,600 | $275.00M | 1.30% |
| 26 | SINGAPORE TELECO (LOT SIZE 100) | — | 65,130,000 | $250.78M | 1.19% |
| 27 | BHP GROUP LTD | — | 6,902,000 | $249.73M | 1.18% |
| 28 | ROCHE HOLDING AG | — | 618,500 | $246.84M | 1.17% |
| 29 | Novartis AG (Registered) | NVSEF | 1,390,208 | $213.39M | 1.01% |
| 30 | CISCO SYSTEMS INC | — | 2,613,737 | $202.80M | 0.96% |
| 31 | GENERALI ASSIC | — | 4,639,547 | $186.66M | 0.88% |
| 32 | CK HUTCHISON HOLDINGS LTD COMMON STOCK HKD1.0 | CKHUF | 23,928,000 | $183.67M | 0.87% |
| 33 | ENBRIDGE INC | — | 3,309,521 | $179.41M | 0.85% |
| 34 | EQUITABLE HOLDINGS INC | — | 4,814,078 | $178.65M | 0.85% |
| 35 | E.ON SE | — | 8,053,300 | $176.38M | 0.84% |
| 36 | HOME DEPOT INC | — | 505,482 | $166.25M | 0.79% |
| 37 | GLENCORE PLC | — | 21,342,700 | $161.65M | 0.77% |
| 38 | MEDTRONIC PLC | — | 1,829,695 | $158.54M | 0.75% |
| 39 | REGIONS FINANCIAL CORP | — | 5,862,414 | $153.13M | 0.73% |
| 40 | NESTLE SA (REG) | — | 1,451,300 | $142.36M | 0.67% |
| 41 | DAIMLER TRUCK HO | — | 2,629,400 | $129.49M | 0.61% |
| 42 | SHELL PLC | — | 2,735,600 | $126.70M | 0.60% |
| 43 | SWISSCOM AG-REG | — | 143,600 | $120.50M | 0.57% |
| 44 | SNAM SPA | — | 15,827,000 | $119.90M | 0.57% |
| 45 | MERCEDES-BENZ GR | — | 1,903,100 | $116.97M | 0.55% |
| 46 | ASR NEDERLAND NV | — | 1,670,500 | $115.01M | 0.55% |
| 47 | SOUTH BOW CORP | — | 3,421,560 | $113.83M | 0.54% |
| 48 | ENI SPA | — | 3,846,400 | $109.37M | 0.52% |
| 49 | ABBVIE INC | — | 476,780 | $103.69M | 0.49% |
| 50 | Midea Group Company, Ltd. | 333 | 9,034,630 | $100.64M | 0.48% |
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