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

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

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
21VIANET GROUP INC-ADR	SPONSORED ADS A	90138A103	45	6,274	SH		SOLE		6,274	0	0
ABB LTD-SPON ADR	SPONSORED ADR	000375204	10,105	419,475	SH		SOLE		413,444	0	6,031
ALIBABA GROUP HOLDING-SP ADR	SPONSORED ADS	01609W102	465,119	2,192,925	SH		SOLE		2,176,501	0	16,424
ANHEUSER-BUSCH INBEV-SPN ADR	SPONSORED ADR	03524A108	170	2,076	SH		SOLE		2,076	0	0
ASML HOLDING NV-NY REG SHS	N Y REGISTRY SHS	N07059210	14,548	49,159	SH		SOLE		48,358	0	801
ASTRAZENECA PLC-SPONS ADR	SPONSORED ADR	046353108	38,054	763,226	SH		SOLE		750,637	0	12,589
AZUL SA-ADR	SPONSR ADR PFD	05501U106	18,256	426,544	SH		SOLE		426,544	0	0
BARCLAYS PLC-SPONS ADR	ADR	06738E204	12,366	1,298,989	SH		SOLE		1,279,885	0	19,104
CHINA MOBILE LTD-SPON ADR	SPONSORED ADR	16941M109	8,188	193,708	SH		SOLE		115,755	0	77,953
DOUYU INTERNATIONAL HOLD-ADR	SPONSORED ADS	25985W105	6,645	784,483	SH		SOLE		778,462	0	6,021
ERICSSON (LM) TEL-SP ADR	ADR B SEK 10	294821608	11,381	1,296,194	SH		SOLE		1,277,581	0	18,613
FOMENTO ECONOMICO MEX-SP ADR	SPON ADR UNITS	344419106	66,510	703,730	SH		SOLE		699,747	0	3,983
FRESENIUS MEDICAL CARE-ADR	SPONSORED ADR	358029106	23,696	643,381	SH		SOLE		632,602	0	10,779
GDS HOLDINGS LTD - ADR	SPONSORED ADS	36165L108	98,075	1,901,411	SH		SOLE		1,898,974	0	2,437
GREENTREE HOSPITALITY GR-ADR	SPONSORED ADS	39579V100	715	64,976	SH		SOLE		64,976	0	0
GRUPO AEROPORTUARIO PAC-ADR	SPON ADR B	400506101	327	2,758	SH		SOLE		2,758	0	0
HDFC BANK LTD-ADR	SPONSORED ADS	40415F101	1,310	20,676	SH		SOLE		20,676	0	0
HUAZHU GROUP LTD-ADR	SPONSORED ADS	44332N106	27,872	695,572	SH		SOLE		693,739	0	1,833
HUYA INC-ADR	ADS REP SHS A	44852D108	21,985	1,224,776	SH		SOLE		1,216,653	0	8,123
ICICI BANK LTD-SPON ADR	ADR	45104G104	18,680	1,237,893	SH		SOLE		1,237,893	0	0
ING GROEP N.V.-SPONSORED ADR	SPONSORED ADR	456837103	13,834	1,148,085	SH		SOLE		1,130,917	0	17,168
ORANGE-SPON ADR	SPONSORED ADR	684060106	7,056	483,648	SH		SOLE		476,625	0	7,023
PETROLEO BRASIL-SP PREF ADR	SP ADR NON VTG	71654V101	552	36,989	SH		SOLE		36,989	0	0
PETROLEO BRASILEIRO-SPON ADR	SPONSORED ADR	71654V408	27,167	1,704,327	SH		SOLE		1,704,327	0	0
QUIMICA Y MINERA CHIL-SP ADR	SPON ADR SER B	833635105	19,028	712,927	SH		SOLE		712,927	0	0
ROYAL DUTCH SHELL-SPON ADR-A	SPONS ADR A	780259206	482,424	8,179,458	SH		SOLE		8,170,965	0	8,493
RYANAIR HOLDINGS PLC-SP ADR	SPONSORED ADS	783513203	119,442	1,363,334	SH		SOLE		1,359,736	0	3,598
SAP SE-SPONSORED ADR	SPON ADR	803054204	12,462	93,009	SH		SOLE		91,668	0	1,341
SEA LTD-ADR	SPONSORED ADS	81141R100	41,804	1,039,384	SH		SOLE		1,039,384	0	0
TAIWAN SEMICONDUCTOR-SP ADR	SPONSORED ADS	874039100	30,145	518,842	SH		SOLE		511,329	0	7,513
TAL EDUCATION GROUP- ADR	SPONSORED ADS	874080104	72,109	1,496,032	SH		SOLE		1,487,235	0	8,797
TAL EDUCATION GROUP- ADR	SPONSORED ADS	874080104	952	19,746	SH		SOLE		19,746	0	0
TRIP.COM GROUP LTD-ADR	ADS	89677Q107	47,863	1,427,030	SH		SOLE		1,423,786	0	3,244
UNILEVER N V -NY SHARES	N Y SHS NEW	904784709	33,793	588,106	SH		SOLE		586,386	0	1,720
VODAFONE GROUP PLC-SP ADR	SPONSORED ADR	92857W308	10,408	538,424	SH		SOLE		530,708	0	7,716
SUNCOR ENERGY INC	COM	867224107	148	4,529	SH		SOLE		4,529	0	0
ABBVIE INC	COM	00287Y109	242,627	2,740,312	SH		SOLE		2,740,312	0	0
ACCENTURE PLC-CL A	SHS CLASS A	G1151C101	7,426	35,266	SH		SOLE		35,266	0	0
ACTIVISION BLIZZARD INC	COM	00507V109	138,458	2,330,153	SH		SOLE		2,252,237	0	77,916
ALCON INC	ORD SHS	H01301128	7,317	129,341	SH		SOLE		127,442	0	1,899
ALEXION PHARMACEUTICALS INC	COM	015351109	10,532	97,386	SH		SOLE		97,386	0	0
ALKERMES PLC	SHS	G01767105	29,137	1,428,298	SH		SOLE		1,368,086	0	60,212
ALLERGAN PLC	SHS	G0177J108	12,791	66,911	SH		SOLE		66,911	0	0
ALPHABET INC-CL A	CAP STK CL A	02079K305	93,065	69,483	SH		SOLE		69,483	0	0
ALPHABET INC-CL C	CAP STK CL C	02079K107	112,100	83,843	SH		SOLE		80,325	0	3,518
AMAZON.COM INC	COM	023135106	58,266	31,532	SH		SOLE		31,532	0	0
APOLLO INVESTMENT CORP	COM NEW	03761U502	102,636	5,878,349	SH		SOLE		5,878,349	0	0
APPLE INC	COM	037833100	57,596	196,138	SH		SOLE		187,433	0	8,705
ARES CAPITAL CORP	COM	04010L103	79,562	4,266,085	SH		SOLE		4,266,085	0	0
ASSURED GUARANTY LTD	COM	G0585R106	60,839	1,241,104	SH		SOLE		1,172,515	0	68,589
AT&T INC	COM	00206R102	54,129	1,385,086	SH		SOLE		1,385,086	0	0
ATLASSIAN CORP PLC-CLASS A	CL A	G06242104	27,724	230,383	SH		SOLE		229,218	0	1,165
AVALARA INC	COM	05338G106	11,207	152,995	SH		SOLE		152,995	0	0
BANK OF N.T. BUTTERFIELD&SON	SHS NEW	G0772R208	1,618	43,693	SH		SOLE		43,693	0	0
BOOKING HOLDINGS INC	COM	09857L108	31,899	15,532	SH		SOLE		15,532	0	0
BOSTON SCIENTIFIC CORP	COM	101137107	277	6,135	SH		SOLE		6,135	0	0
BRINK'S CO/THE	COM	109696104	16,014	176,598	SH		SOLE		176,598	0	0
BROADCOM INC	COM	11135F101	314,430	994,968	SH		SOLE		994,968	0	0
BROOKFIELD ASSET MANAGE-CL A	CL A LTD VT SH	112585104	36,909	638,557	SH		SOLE		598,844	0	39,713
CANADIAN PACIFIC RAILWAY LTD	COM	13645T100	79,951	313,595	SH		SOLE		312,715	0	880
CAPITAL ONE FINANCIAL CORP	COM	14040H105	134,494	1,306,908	SH		SOLE		1,268,233	0	38,675
CAPRI HOLDINGS LTD	SHS	G1890L107	15,136	396,752	SH		SOLE		370,003	0	26,749
CARGURUS INC	COM CL A	141788109	209	5,955	SH		SOLE		5,955	0	0
CARMAX INC	COM	143130102	34,426	392,675	SH		SOLE		377,538	0	15,137
CENTURYLINK INC	COM	156700106	30	2,237	SH		SOLE		2,237	0	0
CF INDUSTRIES HOLDINGS INC	COM	125269100	40,082	839,580	SH		SOLE		839,580	0	0
CITIGROUP INC	COM NEW	172967424	191,863	2,401,590	SH		SOLE		2,363,859	0	37,731
CME GROUP INC	COM	12572Q105	569,073	2,835,158	SH		SOLE		2,835,158	0	0
COMCAST CORP-CLASS A	CL A	20030N101	88,328	1,964,158	SH		SOLE		1,883,468	0	80,690
COOPER COS INC/THE	COM NEW	216648402	41,089	127,889	SH		SOLE		124,683	0	3,206
COPA HOLDINGS SA-CLASS A	CL A	P31076105	15,532	143,706	SH		SOLE		143,706	0	0
CREDICORP LTD	COM	G2519Y108	12,445	58,391	SH		SOLE		58,391	0	0
CROWN HOLDINGS INC	COM	228368106	79,448	1,095,233	SH		SOLE		1,034,554	0	60,679
DAVITA INC	COM	23918K108	74,084	987,388	SH		SOLE		987,388	0	0
DEVON ENERGY CORP	COM	25179M103	23,813	916,950	SH		SOLE		916,749	0	201
DEXCOM INC	COM	252131107	6,505	29,740	SH		SOLE		29,740	0	0
ECHOSTAR CORP-A	CL A	278768106	38,342	885,281	SH		SOLE		885,281	0	0
ENTERPRISE PRODUCTS PARTNERS	COM	293792107	42,223	1,499,396	SH		SOLE		1,398,023	0	101,373
EXPEDIA GROUP INC	COM NEW	30212P303	7,634	70,595	SH		SOLE		70,595	0	0
FACEBOOK INC-CLASS A	CL A	30303M102	147,910	720,633	SH		SOLE		710,830	0	9,803
FIAT CHRYSLER AUTOMOBILES NV	SHS	N31738102	1,520	103,468	SH		SOLE		103,468	0	0
FIDELITY NATIONAL INFO SERV	COM	31620M106	34,209	245,948	SH		SOLE		243,570	0	2,378
FLEETCOR TECHNOLOGIES INC	COM	339041105	11,342	39,422	SH		SOLE		39,422	0	0
FLEX LTD	ORD	Y2573F102	23,497	1,861,919	SH		SOLE		1,674,656	0	187,263
FLOOR & DECOR HOLDINGS INC-A	CL A	339750101	6,574	129,390	SH		SOLE		129,390	0	0
FORTIS INC	COM	349553107	19,223	462,988	SH		SOLE		436,451	0	26,537
FRANCO-NEVADA CORP	COM	351858105	38,274	370,511	SH		SOLE		369,828	0	683
GILEAD SCIENCES INC	COM	375558103	53,488	823,138	SH		SOLE		781,355	0	41,783
GLOBANT SA	COM	L44385109	6,327	59,663	SH		SOLE		59,663	0	0
HOME DEPOT INC	COM	437076102	336,610	1,541,398	SH		SOLE		1,541,398	0	0
HUNTSMAN CORP	COM	447011107	41,984	1,737,757	SH		SOLE		1,626,130	0	111,627
IPG PHOTONICS CORP	COM	44980X109	16,253	112,154	SH		SOLE		112,154	0	0
ITT INC	COM	45073V108	19,264	260,640	SH		SOLE		236,645	0	23,995
JPMORGAN CHASE & CO	COM	46625H100	558,559	4,006,878	SH		SOLE		3,967,832	0	39,046
KLA CORP	COM NEW	482480100	196	1,100	SH		SOLE		1,100	0	0
LAS VEGAS SANDS CORP	COM	517834107	272,595	3,948,362	SH		SOLE		3,948,362	0	0
LAZARD LTD-CL A	SHS A	G54050102	24,711	618,400	SH		SOLE		618,400	0	0
LIONS GATE ENTERTAINMENT-B	CL B NON VTG	535919500	3,062	308,375	SH		SOLE		308,375	0	0
LOCKHEED MARTIN CORP	COM	539830109	436	1,120	SH		SOLE		1,120	0	0
LYONDELLBASELL INDU-CL A	SHS - A -	N53745100	180,465	1,910,092	SH		SOLE		1,910,092	0	0
MAKEMYTRIP LTD	SHS	V5633W109	141	6,149	SH		SOLE		6,149	0	0
MASTERCARD INC - A	CL A	57636Q104	57,404	192,250	SH		SOLE		190,945	0	1,305
MEDTRONIC PLC	SHS	G5960L103	63,179	556,892	SH		SOLE		529,440	0	27,452
MERCADOLIBRE INC	COM	58733R102	208	364	SH		SOLE		364	0	0
MERCK & CO. INC.	COM	58933Y105	332,024	3,650,620	SH		SOLE		3,650,620	0	0
MICRON TECHNOLOGY INC	COM	595112103	62,504	1,162,213	SH		SOLE		1,155,544	0	6,669
MICROSOFT CORP	COM	594918104	27,572	174,840	SH		SOLE		174,840	0	0
MOHAWK INDUSTRIES INC	COM	608190104	17,884	131,130	SH		SOLE		124,218	0	6,912
NAVIENT CORP	COM	63938C108	23,282	1,701,932	SH		SOLE		1,631,492	0	70,440
NETFLIX INC	COM	64110L106	94,285	291,390	SH		SOLE		284,511	0	6,879
NEXTERA ENERGY INC	COM	65339F101	444	1,832	SH		SOLE		1,832	0	0
NOMAD FOODS LTD	USD ORD SHS	G6564A105	75,711	3,384,509	SH		SOLE		3,179,796	0	204,713
NUTRIEN LTD	COM	67077M108	78,306	1,634,440	SH		SOLE		1,632,109	0	2,331
PAYPAL HOLDINGS INC	COM	70450Y103	16,204	149,804	SH		SOLE		149,804	0	0
PFIZER INC	COM	717081103	118,363	3,021,002	SH		SOLE		3,021,002	0	0
PINTEREST INC- CLASS A	CL A	72352L106	2,098	112,553	SH		SOLE		112,553	0	0
PLURALSIGHT INC - A	COM CL A	72941B106	6,214	361,089	SH		SOLE		361,089	0	0
PROOFPOINT INC	COM	743424103	9,386	81,770	SH		SOLE		81,770	0	0
PTC INC	COM	69370C100	9,782	130,616	SH		SOLE		130,616	0	0
PURE STORAGE INC - CLASS A	CL A	74624M102	37,771	2,207,548	SH		SOLE		2,072,955	0	134,593
QORVO INC	COM	74736K101	90,450	778,197	SH		SOLE		778,197	0	0
QUALCOMM INC	COM	747525103	340,961	3,864,459	SH		SOLE		3,864,459	0	0
SALESFORCE.COM INC	COM	79466L302	20,522	126,179	SH		SOLE		126,179	0	0
SCHWAB (CHARLES) CORP	COM	808513105	12,447	261,710	SH		SOLE		261,710	0	0
SEASPAN CORP	SHS	Y75638109	1,688	118,760	SH		SOLE		118,760	0	0
SERVICENOW INC	COM	81762P102	13,908	49,262	SH		SOLE		49,262	0	0
SOLAR CAPITAL LTD	COM	83413U100	95,132	4,613,589	SH		SOLE		4,613,589	0	0
SPLUNK INC	COM	848637104	15,529	103,684	SH		SOLE		103,684	0	0
SQUARE INC - A	CL A	852234103	14,470	231,290	SH		SOLE		231,290	0	0
STARBUCKS CORP	COM	855244109	32,855	373,692	SH		SOLE		357,180	0	16,512
T-MOBILE US INC	COM	872590104	79,554	1,014,466	SH		SOLE		1,014,466	0	0
TEEKAY CORP	COM	Y8564W103	869	163,429	SH		SOLE		163,429	0	0
TEEKAY LNG PARTNERS LP	PRTNRSP UNITS	Y8564M105	51,774	3,327,392	SH		SOLE		3,240,658	0	86,734
TEXAS INSTRUMENTS INC	COM	882508104	8,823	68,774	SH		SOLE		68,774	0	0
THERMO FISHER SCIENTIFIC INC	COM	883556102	90,874	279,724	SH		SOLE		263,917	0	15,807
UBS GROUP AG-REG	SHS	H42097107	8,469	673,192	SH		SOLE		662,848	0	10,344
UNITED PARCEL SERVICE-CL B	CL B	911312106	32,968	281,631	SH		SOLE		268,072	0	13,559
US FOODS HOLDING CORP	COM	912008109	89,288	2,131,488	SH		SOLE		2,023,296	0	108,192
VALERO ENERGY CORP	COM	91913Y100	219,896	2,348,057	SH		SOLE		2,348,057	0	0
VISA INC-CLASS A SHARES	COM CL A	92826C839	84,096	447,559	SH		SOLE		445,472	0	2,087
WALGREENS BOOTS ALLIANCE INC	COM	931427108	293,781	4,982,713	SH		SOLE		4,982,713	0	0
WELLS FARGO & CO	COM	949746101	1,178	21,894	SH		SOLE		21,894	0	0
WORKDAY INC-CLASS A	CL A	98138H101	12,599	76,612	SH		SOLE		76,612	0	0
WYNDHAM HOTELS & RESORTS INC	COM	98311A105	37,723	600,591	SH		SOLE		553,847	0	46,744
WYNN RESORTS LTD	COM	983134107	529	3,811	SH		SOLE		3,811	0	0
XP INC - CLASS A	CL A	G98239109	10,499	272,547	SH		SOLE		272,547	0	0
YANDEX NV-A	SHS CLASS A	N97284108	65,113	1,497,191	SH		SOLE		1,488,911	0	8,280
ZILLOW GROUP INC - C	CL C CAP STK	98954M200	32,886	715,842	SH		SOLE		685,584	0	30,258
ZOOM VIDEO COMMUNICATIONS-A	CL A	98980L101	2,674	39,296	SH		SOLE		39,296	0	0
INVESCO DB AGRICULTURE FUND	AGRICULTURE FD	46140H106	186	11,207	SH		SOLE		11,207	0	0
INVESCO DB BASE METALS FUND	BASE METALS FD	46140H700	443	29,684	SH		SOLE		29,684	0	0
INVESCO QQQ TRUST SERIES 1	UNIT SER 1	46090E103	24	114	SH		SOLE		114	0	0
INVESCO SENIOR LOAN ETF	SR LN ETF	46138G508	1,765	77,325	SH		SOLE		77,325	0	0
ISHARES MSCI ACWI EX US INDX	MSCI ACWI EX US	464288240	18,420	375,010	SH		SOLE		372,881	0	2,129
ISHARES MSCI EAFE ETF	MSCI EAFE ETF	464287465	7,690	110,737	SH		SOLE		109,939	0	798
ISHARES SHORT-TERM CORPORATE	SH TR CRPORT ETF	464288646	1,155	21,533	SH		SOLE		21,533	0	0
SPDR GOLD SHARES	GOLD SHS	78463V107	503	3,519	SH		SOLE		3,519	0	0
SPDR S&P 500 ETF TRUST	TR UNIT	78462F103	1,277	3,969	SH		SOLE		3,969	0	0
UNITED STATES OIL FUND LP	UNITS	91232N108	268	20,890	SH		SOLE		20,890	0	0
VANGUARD EUROPE PACIFIC ETF	FTSE DEV MKT ETF	921943858	265	6,025	SH		SOLE		6,025	0	0
VANGUARD FTSE ALL-WORLD EX-U	ALLWRLD EX US	922042775	346	6,434	SH		SOLE		6,434	0	0
VANGUARD TOTAL INTL STOCK	VG TL INTL STK F	921909768	30	538	SH		SOLE		538	0	0
CHIMERA INVESTMENT CORP	COM NEW	16934Q208	177,299	8,623,507	SH		SOLE		8,623,507	0	0
CROWN CASTLE INTL CORP	COM	22822V101	195,454	1,374,984	SH		SOLE		1,374,984	0	0
CYRUSONE INC	COM	23283R100	1,060	16,205	SH		SOLE		16,205	0	0
EQUINIX INC	COM	29444U700	419	717	SH		SOLE		717	0	0
GRANITE POINT MORTGAGE TRUST	COM	38741L107	26,054	1,417,500	SH		SOLE		1,417,500	0	0
LAMAR ADVERTISING CO-A	CL A	512816109	144,838	1,622,656	SH		SOLE		1,622,656	0	0
MFA FINANCIAL INC	COM	55272X102	250,512	32,746,727	SH		SOLE		32,746,727	0	0
OUTFRONT MEDIA INC	COM	69007J106	80,892	3,016,100	SH		SOLE		3,016,100	0	0
PENNYMAC MORTGAGE INVESTMENT	COM	70931T103	41,031	1,840,770	SH		SOLE		1,745,158	0	95,612
WASHINGTON REIT	SH BEN INT	939653101	91,876	3,148,587	SH		SOLE		3,148,587	0	0