Portfolio concentration
As of February 28, 2026 · N-PORT
Holdings
48
Top-10 weight
37.10%
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.
35
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.
459.6
Holdings
As of February 28, 2026 · N-PORT| # | Security | Ticker | Shares | Value | % of fund |
|---|---|---|---|---|---|
| 1 | Thornburg Capital Management Fund | — | 3,749,646 | $37.50M | 8.54% |
| 2 | ORANGE | — | 841,341 | $18.07M | 4.12% |
| 3 | BNP PARIBAS | — | 147,613 | $16.64M | 3.79% |
| 4 | E.ON SE | — | 638,102 | $14.83M | 3.38% |
| 5 | NN GROUP | — | 166,913 | $13.66M | 3.11% |
| 6 | MITSUBISHI UFJ F | — | 716,088 | $13.62M | 3.10% |
| 7 | ROCHE HOLDINGS AG (GENUSSCHEINE) | — | 28,514 | $13.61M | 3.10% |
| 8 | ING GROEP NV | — | 443,487 | $12.90M | 2.94% |
| 9 | ASTRAZENECA PLC | — | 59,968 | $12.50M | 2.85% |
| 10 | ENEL SPA | — | 962,845 | $11.59M | 2.64% |
| 11 | TOTALENERGIES SE | — | 141,956 | $11.28M | 2.57% |
| 12 | IBERDROLA SA | — | 475,417 | $11.25M | 2.56% |
| 13 | ENDESA | — | 274,524 | $11.21M | 2.55% |
| 14 | SIEMENS AG-REG | — | 37,823 | $11.05M | 2.52% |
| 15 | HITACHI LTD | — | 329,275 | $11.02M | 2.51% |
| 16 | MITSUB ELEC CORP | — | 286,175 | $10.98M | 2.50% |
| 17 | ABB Ltd. (Registered) | ABLZF | 114,965 | $10.74M | 2.45% |
| 18 | FERROVIAL SE | — | 141,905 | $10.58M | 2.41% |
| 19 | CANADIAN PACIFIC KANSAS CITY LTD | — | 118,490 | $10.38M | 2.36% |
| 20 | ALCON INC | — | 116,197 | $10.10M | 2.30% |
| 21 | SCHNEIDER ELECTR | — | 30,579 | $9.99M | 2.28% |
| 22 | SONY GROUP CORP | — | 427,486 | $9.97M | 2.27% |
| 23 | L'OREAL SA ORD | — | 19,001 | $8.92M | 2.03% |
| 24 | MTU AERO ENGINES | — | 20,116 | $8.68M | 1.98% |
| 25 | TSMC | — | 135,407 | $8.66M | 1.97% |
| 26 | LINDE PLC | — | 16,392 | $8.33M | 1.90% |
| 27 | GLENCORE PLC | — | 1,156,226 | $8.30M | 1.89% |
| 28 | GENERALI ASSIC | — | 192,903 | $8.24M | 1.88% |
| 29 | ALIMENTATION COUCHE-TARD INC | — | 133,428 | $8.10M | 1.84% |
| 30 | SAP SE | — | 38,785 | $7.83M | 1.78% |
| 31 | KEYENCE CORP | — | 18,106 | $7.66M | 1.74% |
| 32 | GALAXY ENT GROUP LTD | GXYYY | 281,154 | $7.47M | 1.70% |
| 33 | SAINT GOBAIN | — | 70,676 | $7.20M | 1.64% |
| 34 | DEUTSCHE POST AG ADR | DHLGY | 105,549 | $6.22M | 1.42% |
| 35 | MICHELIN | — | 151,699 | $6.16M | 1.40% |
| 36 | JAPAN EXCHANGE G | — | 426,812 | $5.84M | 1.33% |
| 37 | L'Air Liquide, societe anonyme pour l'Etude et l'Exploitation des procedes Georges Claude | AIQUF | 27,181 | $5.72M | 1.30% |
| 38 | SHELL PLC | — | 134,107 | $5.54M | 1.26% |
| 39 | FUJIFILM HOLDING | — | 263,573 | $5.48M | 1.25% |
| 40 | SAFRAN SA | — | 12,186 | $4.89M | 1.11% |
| 41 | FREEPORT MCMORAN INC | — | 66,330 | $4.52M | 1.03% |
| 42 | RECRUIT HOLDINGS | — | 101,749 | $4.47M | 1.02% |
| 43 | LVMH MOET HENNESSY LOUIS VUITTON SE | MC | 6,875 | $4.42M | 1.01% |
| 44 | DIAGEO PLC-SPONSORED ADR DEPOSITARY RECEIPT | DEO US | 33,521 | $3.00M | 0.68% |
| 45 | Compass Group PLC | — | 61,757 | $1.89M | 0.43% |
| 46 | RHEINMETALL AG | — | 887 | $1.74M | 0.40% |
| 47 | SEA LTD ADR | — | 9,383 | $1.02M | 0.23% |
| 48 | AMER SPORTS INC | — | 19,669 | $747.03K | 0.17% |
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