Thornburg International Equity Fund
THORNBURG INVESTMENT TRUST · 7 share classes
Fund classification
Classified from what the fund holds · as of 2026 Q2
Thornburg International Equity Fund is an actively managed developed international equity fund.
- Asset class
- Equity
- Region
- Developed international
- Management
- Actively managed
- Fund type
- Open-end fund
Fund profile
As filed in the prospectus · 2026 Q1
The Fund seeks long-term capital appreciation by investing in equity and debt securities of all types.
The fund invests primarily in common stocks and depositary receipts of non-U.S. companies, including those in developing countries, selected through fundamental analysis for perceived undervaluation across three categories: basic value stocks in cyclical industries, consistent earners with predictable growth, and emerging franchises with above-average growth potential. The fund's returns depend on whether the portfolio managers' assessments of intrinsic value and company prospects prove accurate, and holdings may fail to meet the characteristics or expectations that prompted their selection.
| Share class | Gross | Net | As of |
|---|---|---|---|
| TGVAX | 1.28% | 1.28% | 2025 Q1 |
| THGCX | 2.17% | 2.17% | 2025 Q1 |
| TGVIX | 0.98% | 0.90% | 2025 Q1 |
| TIVRX | 1.18% | 0.90% | 2025 Q1 |
| THVRX | 1.49% | 1.16% | 2025 Q1 |
| TGVRX | 1.67% | 1.36% | 2025 Q1 |
| TGIRX | 0.91% | 0.70% | 2025 Q1 |
Net is what a holder pays after the adviser's contractual waiver; gross is before it. A waiver can expire.
Portfolio turnover 28.49% · as of 2026 Q1
Allocation
Asset groups · long / short shown separately, never netted · 2026 Q2
| Stocks | 93.06% |
| Cash & short-term | 6.38% |
Look-through blends 1 underlying fund; 0.0% of NAV was not looked through and stays direct-classified.
Latest quarter
What changed since the fund's previous filing
New: Galaxy Entertainment Group Ltd
Exited: Recruit Holdings Co Ltd
Return profile
Total return as filed — price change plus distributions reinvested · trailing figures to Apr 2026
| Share class | 1-year | 3-year | 5-year | Vol | Worst fall |
|---|---|---|---|---|---|
| +28.32% | +69.63% | +55.45% | 13.25% | -9.69% | |
| +27.23% | +65.25% | +49.27% | 13.25% | -9.96% | |
| +28.63% | +71.05% | +57.77% | 13.25% | -9.65% | |
| +28.65% | +70.90% | +57.63% | 13.27% | -9.70% | |
| +28.31% | +69.57% | +55.59% | 13.25% | -9.70% | |
| +28.00% | +68.54% | +54.02% | 13.25% | -9.78% | |
| +28.87% | +71.94% | +59.21% | 13.27% | -9.61% |
These classes hold the same portfolio, so the 9.94pp spread over 5 years is the cost difference between them — roughly 1.99pp a year — not a difference in what they own.
May 2026 and Jun 2026 have been filed since the trailing figures were struck, so they are not in the table above or the curve — every figure here shares one cut-off, which is what makes them comparable with other funds.
Holdings
By % of NAV · equity positions carry filed share counts · every resolvable issuer links to its company page
| Ticker | Issuer | %NAV | Reported price | Value | Shares |
|---|---|---|---|---|---|
| — | Thornburg Capital Management Fund | 6.36% | $10.00 | $346.53M | 34.7M |
| — | ING Groep NV | 3.29% | $31.62 | $179.19M | 5.7M |
| TSM | Taiwan Semiconductor Manufacturing Co LtdTSM | 3.29% | $477.57 | $179.01M | 374.8K |
| — | BNP Paribas SA | 3.24% | $116.71 | $176.50M | 1.5M |
| — | Mitsubishi UFJ Financial Group Inc | 3.10% | $19.72 | $169.03M | 8.6M |
| — | TotalEnergies SE | 2.83% | $77.73 | $153.98M | 2.0M |
| — | Schneider Electric SE | 2.75% | $326.10 | $149.98M | 459.9K |
| — | AstraZeneca PLC | 2.75% | $187.03 | $149.83M | 801.1K |
| — | Tencent Holdings Ltd | 2.73% | $54.80 | $148.63M | 2.7M |
| — | Samsung Electronics Co Ltd | 2.72% | $215.58 | $148.21M | 687.5K |
Reported price is the fund's own reported value divided by its own reported shares at 2026-06-30 — not a live quote, and not what the fund paid.
Top 10 positions are 33.07% of net assets, top 25 68.40%, across 49 issuers.
See more of this fund's book
More positions with filed share counts, and the quarter-over-quarter change list rather than the largest few — free with an account, no card required.
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