Thornburg Investment Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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OMB Number:		3235-0006
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COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
AT&T INC	COM	00206R102	316,472,025	18,860,073	SH		SOLE		18,860,073	0	0
ATS CORPORATION	COM	00217Y104	6,833,770	176,629	SH		SOLE		174,940	0	1,689
ABBVIE INC	COM	00287Y109	155,699,134	1,004,705	SH		SOLE		1,004,705	0	0
ACADIA HEALTHCARE COMPANY IN	COM	00404A109	9,810,917	126,076	SH		SOLE		126,076	0	0
AECOM	COM	00766T100	11,812,142	127,904	SH		SOLE		127,904	0	0
ADVANCED MICRO DEVICES INC	COM	007903107	34,189,976	231,972	SH		SOLE		229,732	0	2,240
AGILYSYS INC	COM	00847J105	19,812,464	234,039	SH		SOLE		234,039	0	0
ALIBABA GROUP HLDG LTD	SPONSORED ADS	01609W102	25,977,253	335,824	SH		SOLE		335,660	0	164
ALPHABET INC	CAP STK CL A	02079K305	78,197,345	559,792	SH		SOLE		559,792	0	0
ALTRIA GROUP INC	COM	02209S103	7,579,886	187,900	SH		SOLE		187,900	0	0
AMAZON COM INC	COM	023135106	1,482,934	9,760	SH		SOLE		9,760	0	0
MIDCAP FINANCIAL INVSTMNT CO	COM NEW	03761U502	40,188,871	2,937,783	SH		SOLE		2,937,783	0	0
APPLE INC	COM	037833100	906,431	4,708	SH		SOLE		4,708	0	0
APPLIED INDL TECHNOLOGIES IN	COM	03820C105	20,162,926	116,829	SH		SOLE		116,829	0	0
ARCOSA INC	COM	039653100	13,280,122	160,836	SH		SOLE		160,836	0	0
ARM HOLDINGS PLC	SPONSORED ADR	042068205	8,901,902	118,463	SH		SOLE		118,463	0	0
ASSURANT INC	COM	04621X108	12,513,995	74,320	SH		SOLE		74,320	0	0
ASTRAZENECA PLC	SPONSORED ADR	046353108	34,358,161	508,872	SH		SOLE		499,871	0	9,001
ATRICURE INC	COM	04963C209	3,683,743	103,215	SH		SOLE		103,215	0	0
AVANTOR INC	COM	05352A100	18,963,303	831,820	SH		SOLE		831,820	0	0
BJS WHSL CLUB HLDGS INC	COM	05550J101	14,455,259	216,946	SH		SOLE		216,946	0	0
BELLRING BRANDS INC	COMMON STOCK	07831C103	8,549,523	154,240	SH		SOLE		154,240	0	0
BENTLEY SYS INC	COM CL B	08265T208	8,891,942	170,409	SH		SOLE		170,409	0	0
BHP GROUP LTD	SPONSORED ADS	088606108	333,694	4,885	SH		SOLE		4,885	0	0
BIOMARIN PHARMACEUTICAL INC	COM	09061G101	16,475,310	170,802	SH		SOLE		170,802	0	0
BOOKING HOLDINGS INC	COM	09857L108	60,754,468	17,129	SH		SOLE		17,081	0	48
BOOZ ALLEN HAMILTON HLDG COR	CL A	099502106	470,297	3,704	SH		SOLE		3,704	0	0
BRIDGE INVT GROUP HLDGS INC	COM CL A	10806B100	2,724,131	278,541	SH		SOLE		278,541	0	0
BROADCOM INC	COM	11135F101	484,119,858	433,702	SH		SOLE		433,702	0	0
BUILDERS FIRSTSOURCE INC	COM	12008R107	20,909,811	125,353	SH		SOLE		125,353	0	0
CCC INTELLIGENT SOLUTIONS HL	COM	12510Q100	20,033,722	1,760,099	SH		SOLE		1,760,099	0	0
CME GROUP INC	COM	12572Q105	338,978,601	1,609,585	SH		SOLE		1,609,585	0	0
CACI INTL INC	CL A	127190304	34,624,844	106,913	SH		SOLE		106,913	0	0
CANADIAN PACIFIC KANSAS CITY	COM	13646K108	110,141,632	1,429,537	SH		SOLE		1,428,047	0	1,490
CAPITAL ONE FINL CORP	COM	14040H105	39,486,395	301,147	SH		SOLE		301,147	0	0
CASELLA WASTE SYS INC	CL A	147448104	28,852,219	337,797	SH		SOLE		337,797	0	0
CELSIUS HLDGS INC	COM NEW	15118V207	6,078,380	111,489	SH		SOLE		111,489	0	0
CENTRAIS ELETRICAS BRASILEIR	SPON ADR PFD B	15234Q108	899,344	95,092	SH		SOLE		95,092	0	0
CHESAPEAKE ENERGY CORP	COM	165167735	840,061	10,819	SH		SOLE		10,819	0	0
CHIMERA INVT CORP	COM NEW	16934Q208	74,141,265	14,857,969	SH		SOLE		14,857,969	0	0
CHURCHILL DOWNS INC	COM	171484108	7,003,542	51,905	SH		SOLE		51,905	0	0
CISCO SYS INC	COM	17275R102	97,893,362	1,937,715	SH		SOLE		1,937,715	0	0
CITIGROUP INC	COM NEW	172967424	364,835,679	7,092,451	SH		SOLE		7,092,451	0	0
CLEAN HARBORS INC	COM	184496107	14,836,553	85,139	SH		SOLE		85,139	0	0
CLEARWATER ANALYTICS HLDGS I	CL A	185123106	5,039,107	251,578	SH		SOLE		251,578	0	0
COMCAST HOLDINGS CORP	ZONES CV2% PCS	200300507	8,685,203	157,910	PRN		SOLE		157,910	0	0
CONMED CORP	COM	207410101	9,022,091	82,386	SH		SOLE		82,386	0	0
COSTCO WHSL CORP NEW	COM	22160K105	17,451,017	26,431	SH		SOLE		26,307	0	124
COUPANG INC	CL A	22266T109	868,222	53,953	SH		SOLE		53,953	0	0
CROWDSTRIKE HLDGS INC	CL A	22788C105	656,428	2,571	SH		SOLE		2,571	0	0
CROWN HLDGS INC	COM	228368106	634,892	6,901	SH		SOLE		6,901	0	0
CYTOKINETICS INC	COM NEW	23282W605	7,113,265	85,199	SH		SOLE		85,199	0	0
DECKERS OUTDOOR CORP	COM	243537107	14,079,637	21,041	SH		SOLE		21,041	0	0
DIAGEO PLC	SPON ADR NEW	25243Q205	9,855,813	67,723	SH		SOLE		66,132	0	1,591
DIAMONDBACK ENERGY INC	COM	25278X109	967,737	6,213	SH		SOLE		6,213	0	0
DIGITALBRIDGE GROUP INC	CL A NEW	25401T603	11,994,150	683,817	SH		SOLE		683,817	0	0
ASPEN TECHNOLOGY INC	COM	29109X106	10,993,850	50,031	SH		SOLE		50,031	0	0
ENBRIDGE INC	COM	29250N105	128,137,364	3,543,172	SH		SOLE		3,543,172	0	0
ENTEGRIS INC	COM	29362U104	12,509,474	104,543	SH		SOLE		104,543	0	0
ENVISTA HOLDINGS CORPORATION	COM	29415F104	9,927,306	412,617	SH		SOLE		412,617	0	0
EQUITABLE HLDGS INC	COM	29452E101	181,320,764	5,445,068	SH		SOLE		5,445,068	0	0
META PLATFORMS INC	CL A	30303M102	109,029,237	308,027	SH		SOLE		308,027	0	0
FIDELITY NATL INFORMATION SV	COM	31620M106	30,343,519	504,424	SH		SOLE		503,845	0	579
FLOOR & DECOR HLDGS INC	CL A	339750101	204,484	1,915	SH		SOLE		1,915	0	0
FORMFACTOR INC	COM	346375108	323,340	8,368	SH		SOLE		8,368	0	0
FREEPORT-MCMORAN INC	CL B	35671D857	58,087,063	1,364,591	SH		SOLE		1,364,591	0	0
FRESHPET INC	COM	358039105	7,231,446	83,350	SH		SOLE		83,350	0	0
GROCERY OUTLET HLDG CORP	COM	39874R101	3,409,389	126,461	SH		SOLE		126,461	0	0
GROUP 1 AUTOMOTIVE INC	COM	398905109	10,943,601	35,970	SH		SOLE		35,970	0	0
HDFC BANK LTD	SPONSORED ADS	40415F101	30,966,560	462,410	SH		SOLE		456,079	0	6,331
HARMONIC INC	COM	413160102	12,008,184	921,312	SH		SOLE		921,312	0	0
HOME DEPOT INC	COM	437076102	176,839,613	510,286	SH		SOLE		510,286	0	0
H WORLD GROUP LTD	SPONSORED ADS	44332N106	9,590,405	287,410	SH		SOLE		287,410	0	0
ITT INC	COM	45073V108	14,157,384	118,764	SH		SOLE		118,764	0	0
ICICI BANK LIMITED	ADR	45104G104	5,155,789	216,112	SH		SOLE		216,112	0	0
INFOSYS LTD	SPONSORED ADR	456788108	1,098,085	59,707	SH		SOLE		59,707	0	0
ING GROEP N.V.	SPONSORED ADR	456837103	7,620,494	510,479	SH		SOLE		505,922	0	4,557
INSPIRE MED SYS INC	COM	457730109	5,057,473	24,861	SH		SOLE		24,861	0	0
INVESCO DB MULTI-SECTOR COMM	AGRICULTURE FD	46140H106	411,108	19,822	SH		SOLE		19,822	0	0
INVESCO DB MULTI-SECTOR COMM	BASE METALS FD	46140H700	629,740	34,412	SH		SOLE		34,412	0	0
ISHARES TR	MSCI EMG MKT ETF	464287234	692,137	17,213	SH		SOLE		17,213	0	0
ISHARES TR	MSCI EAFE ETF	464287465	10,861,998	144,218	SH		SOLE		142,993	0	1,225
ISHARES TR	MSCI ACWI EX US	464288240	6,375,100	124,905	SH		SOLE		123,817	0	1,088
ITAU UNIBANCO HLDG S A	SPON ADR REP PFD	465562106	1,321,402	191,537	SH		SOLE		191,537	0	0
JPMORGAN CHASE & CO	COM	46625H100	282,724,231	1,662,106	SH		SOLE		1,662,106	0	0
JACOBS SOLUTIONS INC	COM	46982L108	804,241	6,196	SH		SOLE		6,196	0	0
KEMPER CORP	COM	488401100	8,109,493	166,622	SH		SOLE		166,622	0	0
KITE RLTY GROUP TR	COM NEW	49803T300	10,708,620	468,817	SH		SOLE		468,817	0	0
KRANESHARES TR	GLOBAL CARB STRA	500767678	2,689,204	73,697	SH		SOLE		73,697	0	0
LPL FINL HLDGS INC	COM	50212V100	14,103,265	61,841	SH		SOLE		61,841	0	0
L3HARRIS TECHNOLOGIES INC	COM	502431109	24,531,333	116,472	SH		SOLE		116,472	0	0
LAMB WESTON HLDGS INC	COM	513272104	519,397	4,837	SH		SOLE		4,837	0	0
LAUDER ESTEE COS INC	CL A	518439104	7,302,848	49,934	SH		SOLE		49,934	0	0
LIBERTY ENERGY INC	COM CL A	53115L104	7,665,102	422,800	SH		SOLE		422,800	0	0
LIBERTY MEDIA CORP DEL	COM LBTY ONE S C	531229755	5,569,076	88,216	SH		SOLE		88,216	0	0
LIVENT CORP	COM	53814L108	3,248,501	180,673	SH		SOLE		180,673	0	0
MYR GROUP INC DEL	COM	55405W104	16,571,416	114,578	SH		SOLE		114,578	0	0
MACOM TECH SOLUTIONS HLDGS I	COM	55405Y100	6,117,504	65,815	SH		SOLE		65,815	0	0
MASTERCARD INCORPORATED	CL A	57636Q104	46,875,346	109,924	SH		SOLE		108,923	0	1,001
MATADOR RES CO	COM	576485205	9,259,480	162,847	SH		SOLE		162,847	0	0
MERCADOLIBRE INC	COM	58733R102	53,041,652	33,749	SH		SOLE		33,558	0	191
MERCK & CO INC	COM	58933Y105	219,738,641	2,015,581	SH		SOLE		2,015,581	0	0
MICROSOFT CORP	COM	594918104	5,496,953	14,618	SH		SOLE		14,618	0	0
MICRON TECHNOLOGY INC	COM	595112103	22,515,419	263,993	SH		SOLE		260,580	0	3,413
MITSUBISHI UFJ FINL GROUP IN	SPONSORED ADS	606822104	3,827,028	441,417	SH		SOLE		437,320	0	4,097
MONOLITHIC PWR SYS INC	COM	609839105	5,222,858	8,280	SH		SOLE		8,280	0	0
NETEASE INC	SPONSORED ADS	64110W102	10,184,065	109,318	SH		SOLE		109,318	0	0
NOVARTIS AG	SPONSORED ADR	66987V109	690,029	6,834	SH		SOLE		6,834	0	0
NOVO-NORDISK A S	ADR	670100205	88,827,032	858,210	SH		SOLE		850,103	0	8,107
NVIDIA CORPORATION	COM	67066G104	39,458,469	79,536	SH		SOLE		79,413	0	123
ONTO INNOVATION INC	COM	683344105	7,102,970	46,455	SH		SOLE		46,455	0	0
OPEN TEXT CORP	COM	683715106	1,795,367	42,700	SH		SOLE		42,700	0	0
ORANGE	SPONSORED ADR	684060106	8,662,409	753,870	SH		SOLE		747,644	0	6,226
PJT PARTNERS INC	COM CL A	69343T107	7,155,756	70,244	SH		SOLE		70,244	0	0
PNM RES INC	COM	69349H107	10,039,225	241,832	SH		SOLE		241,832	0	0
P T TELEKOMUNIKASI INDONESIA	SPONSORED ADR	715684106	759,059	29,841	SH		SOLE		29,841	0	0
PETIQ INC	COM CL A	71639T106	12,660,218	641,924	SH		SOLE		641,924	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	122,117,496	7,646,681	SH		SOLE		7,646,681	0	0
PFIZER INC	COM	717081103	227,524,549	7,902,902	SH		SOLE		7,902,902	0	0
PDD HOLDINGS INC	SPONSORED ADS	722304102	35,447,536	242,212	SH		SOLE		241,388	0	824
PINNACLE FINL PARTNERS INC	COM	72346Q104	13,990,747	160,429	SH		SOLE		160,429	0	0
POOL CORP	COM	73278L105	15,755,559	39,548	SH		SOLE		39,548	0	0
PURE STORAGE INC	CL A	74624M102	13,747,699	385,132	SH		SOLE		385,132	0	0
QORVO INC	COM	74736K101	16,526,193	146,756	SH		SOLE		146,756	0	0
QUALCOMM INC	COM	747525103	279,334,477	1,931,373	SH		SOLE		1,931,373	0	0
QUANTA SVCS INC	COM	74762E102	1,163,115	5,658	SH		SOLE		5,658	0	0
RAMBUS INC DEL	COM	750917106	5,613,631	82,251	SH		SOLE		82,251	0	0
REGIONS FINANCIAL CORP NEW	COM	7591EP100	216,683,943	11,180,802	SH		SOLE		11,180,802	0	0
REPLIGEN CORP	COM	759916109	6,919,603	38,485	SH		SOLE		38,485	0	0
REPAY HLDGS CORP	COM CL A	76029L100	13,001,297	1,523,609	SH		SOLE		1,523,609	0	0
SHELL PLC	SPON ADS	780259305	6,434,469	98,088	SH		SOLE		97,326	0	762
RYAN SPECIALTY HOLDINGS INC	CL A	78351F107	6,053,990	140,725	SH		SOLE		140,725	0	0
SPDR GOLD TR	GOLD SHS	78463V107	1,016,642	5,318	SH		SOLE		5,318	0	0
SAIA INC	COM	78709Y105	6,292,401	14,359	SH		SOLE		14,359	0	0
SAP SE	SPON ADR	803054204	7,954,680	51,602	SH		SOLE		51,126	0	476
SAREPTA THERAPEUTICS INC	COM	803607100	3,890,468	40,345	SH		SOLE		40,345	0	0
SCHWAB CHARLES CORP	COM	808513105	68,690,677	998,411	SH		SOLE		998,411	0	0
SCOTTS MIRACLE-GRO CO	CL A	810186106	5,399,051	84,691	SH		SOLE		84,691	0	0
SEA LTD	SPONSORD ADS	81141R100	1,494,450	36,900	SH		SOLE		36,900	0	0
SENDAS DISTRIBUIDORA S A	SPON ADS	81689T104	917,559	64,719	SH		SOLE		64,719	0	0
SENSIENT TECHNOLOGIES CORP	COM	81725T100	11,492,788	174,276	SH		SOLE		174,276	0	0
SERVICENOW INC	COM	81762P102	5,832,075	8,255	SH		SOLE		8,255	0	0
SHIFT4 PMTS INC	CL A	82452J109	6,276,155	84,425	SH		SOLE		84,425	0	0
SHOCKWAVE MED INC	COM	82489T104	7,221,081	37,894	SH		SOLE		37,894	0	0
SHOPIFY INC	CL A	82509L107	29,409,132	377,541	SH		SOLE		374,243	0	3,298
SLR INVESTMENT CORP	COM	83413U100	65,209,143	4,338,599	SH		SOLE		4,338,599	0	0
SONY GROUP CORP	SPONSORED ADR	835699307	14,843,256	157,282	SH		SOLE		156,310	0	972
SUNOPTA INC	COM	8676EP108	10,933,490	1,999,324	SH		SOLE		1,999,324	0	0
SURGERY PARTNERS INC	COM	86881A100	3,050,918	95,371	SH		SOLE		95,371	0	0
TJX COS INC NEW	COM	872540109	49,711,514	529,917	SH		SOLE		529,917	0	0
TAIWAN SEMICONDUCTOR MFG LTD	SPONSORED ADS	874039100	124,703,700	1,200,386	SH		SOLE		1,193,556	0	6,830
TC ENERGY CORP	COM	87807B107	98,844,093	2,529,347	SH		SOLE		2,529,347	0	0
TECK RESOURCES LTD	CL B	878742204	29,019,389	686,958	SH		SOLE		680,534	0	6,424
TELEDYNE TECHNOLOGIES INC	COM	879360105	4,424,591	9,924	SH		SOLE		9,924	0	0
TETRA TECH INC NEW	COM	88162G103	11,280,462	67,576	SH		SOLE		67,576	0	0
TOTALENERGIES SE	SPONSORED ADS	89151E109	26,012,280	386,650	SH		SOLE		381,155	0	5,495
TRADEWEB MKTS INC	CL A	892672106	3,381,827	37,212	SH		SOLE		37,212	0	0
TRANSUNION	COM	89400J107	17,106,179	248,962	SH		SOLE		248,962	0	0
VANGUARD INTL EQUITY INDEX F	ALLWRLD EX US	922042775	293,686	5,231	SH		SOLE		5,098	0	133
VERTIV HOLDINGS CO	COM CL A	92537N108	19,636,249	408,833	SH		SOLE		408,833	0	0
VESTA REAL ESTATE CORP	ADS	92540K109	14,598,825	368,974	SH		SOLE		368,974	0	0
VISA INC	COM CL A	92826C839	28,134,869	108,050	SH		SOLE		107,102	0	948
VODAFONE GROUP PLC NEW	SPONSORED ADR	92857W308	13,528,176	1,550,534	SH		SOLE		1,546,705	0	3,829
WALKER & DUNLOP INC	COM	93148P102	14,253,884	128,739	SH		SOLE		128,739	0	0
WARNER BROS DISCOVERY INC	COM SER A	934423104	1,692,069	148,688	SH		SOLE		148,688	0	0
ELME COMMUNITIES	SH BEN INT	939653101	34,392,753	2,355,668	SH		SOLE		2,355,668	0	0
WASTE CONNECTIONS INC	COM	94106B101	10,453,975	70,034	SH		SOLE		70,034	0	0
WESTERN ALLIANCE BANCORP	COM	957638109	10,624,888	161,497	SH		SOLE		161,497	0	0
WILLSCOT MOBIL MINI HLDNG CO	COM CL A	971378104	6,301,423	141,605	SH		SOLE		141,605	0	0
WYNDHAM HOTELS & RESORTS INC	COM	98311A105	10,755,642	133,760	SH		SOLE		133,760	0	0
XPO INC	COM	983793100	9,755,818	111,496	SH		SOLE		111,496	0	0
YETI HLDGS INC	COM	98585X104	12,797,322	247,586	SH		SOLE		247,586	0	0
YUM CHINA HLDGS INC	COM	98850P109	19,330,053	455,673	SH		SOLE		455,673	0	0
AON PLC	SHS CL A	G0403H108	12,240,210	42,049	SH		SOLE		41,682	0	367
CREDICORP LTD	COM	G2519Y108	12,152,119	81,089	SH		SOLE		81,089	0	0
CREDO TECHNOLOGY GROUP HOLDI	ORDINARY SHARES	G25457105	3,371,231	173,150	SH		SOLE		173,150	0	0
DLOCAL LTD	CLASS A COM	G29018101	6,643,915	375,575	SH		SOLE		372,008	0	3,567
GRAB HOLDINGS LIMITED	CLASS A ORD	G4124C109	703,865	209,213	SH		SOLE		209,213	0	0
ICON PLC	SHS	G4705A100	31,190,627	110,257	SH		SOLE		109,199	0	1,058
LINDE PLC	SHS	G54950103	97,057,994	235,282	SH		SOLE		234,989	0	293
MEDTRONIC PLC	SHS	G5960L103	76,250,269	925,592	SH		SOLE		925,592	0	0
NU HLDGS LTD	ORD SHS CL A	G6683N103	4,565,977	548,137	SH		SOLE		543,977	0	4,160
PROTHENA CORP PLC	SHS	G72800108	929,977	25,591	SH		SOLE		25,591	0	0
TECHNIPFMC PLC	COM	G87110105	18,843,588	936,596	SH		SOLE		936,596	0	0
ALCON AG	ORD SHS	H01301128	35,392,505	434,869	SH		SOLE		433,876	0	993
UBS GROUP AG	SHS	H42097107	351,179	11,365	SH		SOLE		11,365	0	0
ON HLDG AG	NAMEN AKT A	H5919C104	4,688,168	173,829	SH		SOLE		173,829	0	0
GLOBANT S A	COM	L44385109	21,154,103	89,091	SH		SOLE		88,308	0	783
CYBERARK SOFTWARE LTD	SHS	M2682V108	5,549,413	25,334	SH		SOLE		25,334	0	0
MONDAY COM LTD	SHS	M7S64H106	5,185,059	27,608	SH		SOLE		27,608	0	0
ASML HOLDING N V	N Y REGISTRY SHS	N07059210	35,013,370	46,425	SH		SOLE		45,488	0	937
FERRARI N V	COM	N3167Y103	39,345,592	116,224	SH		SOLE		115,098	0	1,126
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	186,451,310	1,960,994	SH		SOLE		1,960,994	0	0
STELLANTIS N.V	SHS	N82405106	73,530,258	3,150,333	SH		SOLE		3,150,333	0	0
STEVANATO GROUP S P A	ORD SHS	T9224W109	4,689,514	171,840	SH		SOLE		171,840	0	0
MAKEMYTRIP LIMITED MAURITIUS	SHS	V5633W109	1,739,360	37,848	SH		SOLE		37,848	0	0