TBWAX Holdings — Thornburg Better World International Fund
Data updated: 2026-08-24
TBWAX holds 46 securities. The top 10 make up 36.8% of net assets, led by Taiwan Semiconductor Manufacturing Co (4.40%) and BNP Paribas (4.20%). Industrials (25.7%) and Financials (15.7%) are the largest sectors, and 15.5% of the portfolio is in France. No debt holdings are reported.
Holdings cover 99.76% of net asset value (99.62% of total assets; remainder is cash and receivables). As of June 30, 2026 · N-PORT.
TBWAX Portfolio Holdings
46 holdings of Thornburg Better World International Fund by percentage of net assets, from the fund's SEC N-PORT filing as of June 30, 2026.
| Holding | Ticker | Sector | % of net assets | Value (USD) |
|---|---|---|---|---|
| Taiwan Semiconductor Manufacturing Co Ltd | TSM | Information Technology | 4.40% | $20.40M |
| BNP Paribas SA | — | Financials | 4.20% | $19.45M |
| Iberdrola SA | — | Utilities | 3.75% | $17.39M |
| Schneider Electric SE | — | Industrials | 3.73% | $17.27M |
| Endesa SA | — | Utilities | 3.70% | $17.13M |
| Thornburg Capital Management Fund | — | Funds & ETFs | 3.51% | $16.25M |
| ING Groep NV | INGVF | Financials | 3.50% | $16.23M |
| Mitsubishi UFJ Financial Group Inc | MBFJF | Financials | 3.46% | $16.05M |
| Enel SpA | — | Utilities | 3.31% | $15.33M |
| ABB Ltd | ABLZF | Industrials | 3.26% | $15.09M |
| AstraZeneca PLC | AZN | Health Care | 3.21% | $14.90M |
| Roche Holding AG | — | Health Care | 3.16% | $14.62M |
| Mitsubishi Electric Corp | — | Industrials | 2.87% | $13.28M |
| Tencent Holdings Ltd | — | Communication Services | 2.85% | $13.19M |
| L'Oreal SA | — | Consumer Staples | 2.84% | $13.14M |
| Linde PLC | LIN | Materials | 2.82% | $13.08M |
| Hitachi Ltd | HTHIF | Industrials | 2.72% | $12.59M |
| Contemporary Amperex Technology Co Ltd | — | Industrials | 2.57% | $11.93M |
| Deutsche Post AG | — | Industrials | 2.38% | $11.03M |
| Alcon AG | ALC | Health Care | 2.35% | $10.88M |
| Siemens AG | — | Industrials | 2.23% | $10.34M |
| Sony Group Corp | SNEJF | Consumer Discretionary | 2.12% | $9.84M |
| Cie Generale des Etablissements Michelin SCA | — | Consumer Discretionary | 1.88% | $8.73M |
| Alibaba Group Holding Ltd | BABAF | Consumer Discretionary | 1.82% | $8.44M |
| AIA Group Ltd | — | Financials | 1.78% | $8.27M |
| Alimentation Couche-Tard Inc | — | Consumer Discretionary | 1.69% | $7.85M |
| Deutsche Telekom AG | DTEGF | Communication Services | 1.67% | $7.74M |
| LVMH Moet Hennessy Louis Vuitton SE | — | Consumer Discretionary | 1.64% | $7.62M |
| MercadoLibre Inc | MELI | Consumer Discretionary | 1.60% | $7.42M |
| Experian PLC | — | Industrials | 1.60% | $7.41M |
| Sap SE | SAP | Information Technology | 1.57% | $7.26M |
| Canadian Pacific Kansas City Ltd | CP | Industrials | 1.54% | $7.16M |
| CME Group Inc | CME | Financials | 1.48% | $6.86M |
| Holcim AG | — | Materials | 1.46% | $6.77M |
| ASML Holding NV | ASMLF | Information Technology | 1.34% | $6.21M |
| FUJIFILM Holdings Corp | — | Information Technology | 1.29% | $5.98M |
| Bank Central Asia Tbk PT | — | Financials | 1.27% | $5.90M |
| Orange SA | FNCTF | Communication Services | 1.23% | $5.70M |
| Dsv A/s | — | Industrials | 1.11% | $5.16M |
| Novonesis Novozymes B | — | Materials | 1.08% | $4.99M |
| Keyence Corp | — | Industrials | 1.00% | $4.62M |
| Weir Group PLC/The | WEIGF | Information Technology | 0.92% | $4.27M |
| GO Inc | — | Consumer Discretionary | 0.76% | $3.52M |
| MTU Aero Engines AG | — | Industrials | 0.58% | $2.69M |
| Broadcom Inc | AVGO | Information Technology | 0.50% | $2.32M |
| Constellation Software, Inc. | — | Information Technology | 0.00% | $0 |
TBWAX Sector Allocation
Thornburg Better World International Fund holdings grouped by sector, by share of the portfolio's market value.
| Sector | Weight | Holdings |
|---|---|---|
| Industrials | 25.7% | 12 |
| Financials | 15.7% | 6 |
| Consumer Discretionary | 11.6% | 7 |
| Utilities | 10.8% | 3 |
| Information Technology | 10.0% | 7 |
| Health Care | 8.7% | 3 |
| Communication Services | 5.8% | 3 |
| Materials | 5.4% | 3 |
| Funds & ETFs | 3.5% | 1 |
| Consumer Staples | 2.8% | 1 |
TBWAX Country Allocation
Where Thornburg Better World International Fund's holdings are domiciled, by percentage of net assets (largest 15).
| Country | % of net assets |
|---|---|
| France | 15.5% |
| Japan | 14.2% |
| Switzerland | 10.2% |
| Germany | 8.4% |
| Spain | 7.5% |
| United States | 7.1% |
| Netherlands | 4.8% |
| Cayman Islands | 4.7% |
| Taiwan | 4.4% |
| United Kingdom | 4.1% |
| Italy | 3.3% |
| Canada | 3.2% |
| Ireland | 2.8% |
| China | 2.6% |
| Denmark | 2.2% |
TBWAX Portfolio Allocation
Asset-class allocation of Thornburg Better World International Fund by percentage of net assets, from the latest SEC N-PORT filing.
| Asset class | Allocation |
|---|---|
| Equity | 99.8% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.