Thornburg Investment Management

Thornburg Investment Management, Inc. Address: 2300 N. Ridgetop Road Santa as of Dec. 31, 2011

Portfolio Holdings for Thornburg Investment Management, Inc. Address: 2300 N. Ridgetop Road Santa

Thornburg Investment Management, Inc. Address: 2300 N. Ridgetop Road Santa holds 200 positions in its portfolio as reported in the December 2011 quarterly 13F filing

Company (Ticker) Portfolio Weight Valued At Change in Shares Share Count Share Price
Schlumberger (SLB) 5.0 $950M 14M 68.31
Teva Pharmaceutical Industries (TEVA) 4.9 $938M 23M 40.36
Potash Corp. Of Saskatchewan I 3.7 $700M 17M 41.28
Covidien 3.0 $574M 13M 45.01
CHECK POINT SOFTWARE Technolog Com Stk (CHKP) 2.7 $520M 9.9M 52.54
Microsoft Corporation (MSFT) 2.4 $454M 18M 25.96
Google 2.0 $379M 587k 645.90
Gilead Sciences (GILD) 1.9 $361M 8.8M 40.93
Embraer S A (ERJ) 1.7 $327M 13M 25.22
Hewlett-Packard Company 1.6 $304M 12M 25.76
Charles Schwab Corporation (SCHW) 1.5 $281M 25M 11.26
Thermo Fisher Scientific (TMO) 1.4 $276M 6.1M 44.97
Staples 1.4 $270M 20M 13.89
Exxon Mobil Corporation (XOM) 1.3 $252M 3.0M 84.76
Yandex Nv-a (YNDX) 1.2 $236M 12M 19.70
Royal Dutch Shell 1.2 $234M 3.2M 73.09
United States Steel Corporation (X) 1.2 $233M 8.8M 26.46
Pfizer (PFE) 1.2 $231M 11M 21.64
Entergy Corporation (ETR) 1.2 $227M 3.1M 73.05
Yahoo! 1.1 $218M 14M 16.13
MetLife (MET) 1.1 $217M 7.0M 31.18
Varian Medical Systems 1.1 $204M 3.0M 67.13
Gap (GPS) 1.0 $197M 11M 18.55
Intel Corporation (INTC) 1.0 $192M 7.9M 24.25
SandRidge Energy 1.0 $190M 23M 8.16
Coca-Cola Company (KO) 1.0 $185M 2.6M 69.97
Philip Morris International (PM) 1.0 $183M 2.3M 78.48
At&t (T) 0.9 $181M 6.0M 30.24
Hartford Financial Services (HIG) 0.9 $172M 11M 16.25
Merck & Co (MRK) 0.9 $170M 4.5M 37.70
Life Time Fitness 0.9 $168M 3.6M 46.75
Apache Corporation 0.9 $163M 1.8M 90.58
Amdocs Ltd ord (DOX) 0.8 $162M 5.7M 28.53
McDonald's Corporation (MCD) 0.8 $160M 1.6M 100.33
Walgreen Company 0.8 $157M 4.8M 33.06
Bank of America Corporation (BAC) 0.8 $153M 28M 5.56
Best Buy (BBY) 0.8 $153M 6.6M 23.37
Dell 0.8 $153M 11M 14.63
JPMorgan Chase & Co. (JPM) 0.8 $147M 4.4M 33.25
MFA Mortgage Investments 0.7 $141M 21M 6.72
Level 3 Communications 0.7 $135M 7.9M 16.99
Alere 0.7 $131M 5.7M 23.09
LVMH Moet Hennessy Louis Vuitton SA (LVMUY) 0.7 $131M 4.6M 28.40
KKR Financial Holdings 0.7 $128M 15M 8.73
Novartis (NVS) 0.7 $126M 2.2M 57.17
Southern Copper Corporation (SCCO) 0.7 $126M 4.2M 30.18
Genworth Financial (GNW) 0.7 $125M 19M 6.55
Sap (SAP) 0.6 $121M 2.3M 52.95
Reckitt Benckiser Group-unsp 0.6 $122M 12M 9.88
Novo Nordisk A/S (NVO) 0.6 $117M 1.0M 115.26
Apple (AAPL) 0.6 $115M 285k 405.00
Community Health Systems (CYH) 0.6 $115M 6.6M 17.45
Chimera Investment Corporation 0.6 $115M 46M 2.51
Hennes & Mauritz Ab (HNNMY) 0.6 $115M 18M 6.46
Carnival Corporation (CCL) 0.6 $112M 3.4M 32.64
Canon (CAJPY) 0.6 $109M 2.5M 44.04
Banco Itau Holding Financeira (ITUB) 0.6 $108M 5.8M 18.56
Ares Capital Corporation (ARCC) 0.6 $107M 6.9M 15.45
Tes 0.6 $107M 5.7M 18.81
Canadian Natl Ry (CNI) 0.6 $105M 1.3M 78.56
Huntington Bancshares Inc pfd conv ser a 0.6 $105M 96k 1099.99
Fifth Third Bancorp cnv pfd dep1/250 0.5 $102M 718k 142.08
Pulte (PHM) 0.5 $103M 16M 6.31
Fresenius Medical Care AG & Co. (FMS) 0.5 $103M 1.5M 67.98
Kingfisher (KGFHY) 0.5 $102M 13M 7.79
BG 0.5 $102M 952k 106.96
Assa Abloy Ab (ASAZY) 0.5 $100M 8.0M 12.59
Nestle SA Reg Shs. Ser. B Spons (NSRGY) 0.5 $98M 1.7M 57.75
Toyota Motor Corporation (TM) 0.5 $99M 1.5M 66.13
Oshkosh Corporation (OSK) 0.5 $100M 4.7M 21.38
MEMC Electronic Materials 0.5 $100M 25M 3.94
Annaly Capital Management 0.5 $97M 6.1M 15.96
Invesco Mortgage Capital 0.5 $97M 6.9M 14.05
Kddi Corp-unsp (KDDIY) 0.5 $97M 6.0M 16.08
Cnooc 0.5 $94M 537k 174.68
Siemens (SIEGY) 0.5 $93M 971k 95.61
Juniper Networks (JNPR) 0.5 $87M 4.3M 20.41
Apollo Investment 0.5 $88M 14M 6.44
Komatsu (KMTUY) 0.5 $87M 3.7M 23.38
MercadoLibre (MELI) 0.5 $85M 1.1M 79.54
ON Semiconductor (ON) 0.5 $86M 11M 7.72
Fanuc Ltd-unpons (FANUY) 0.4 $83M 3.2M 25.52
General Electric Company 0.4 $79M 4.4M 17.91
Solar Cap (SLRC) 0.4 $80M 3.6M 22.09
Credit Suisse Group 0.4 $78M 3.3M 23.48
Inpex Corp (IPXHY) 0.4 $77M 4.9M 15.76
Corning Incorporated (GLW) 0.4 $75M 5.8M 12.98
Turkiye Garanti Bankasi (TKGBY) 0.4 $75M 24M 3.12
Tencent Holdings Ltd - (TCEHY) 0.4 $74M 3.7M 20.10
Wal-mart de Mexico S A B de C V (WMMVY) 0.4 $72M 2.6M 27.44
Industrial & Commercial Bank Of China (IDCBY) 0.4 $70M 5.9M 11.87
Kimberly-Clark Corporation (KMB) 0.4 $68M 929k 73.56
Washington Real Estate Investment Trust (ELME) 0.4 $68M 2.5M 27.35
adidas (ADDYY) 0.4 $69M 2.1M 32.62
Publicis Groupe (PUBGY) 0.4 $69M 3.0M 23.07
Li & Fund 0.4 $70M 19M 3.70
Mitsubishi UFJ Financial (MUFG) 0.3 $67M 16M 4.19
ING Groep (ING) 0.3 $65M 9.0M 7.17
Volkswagen (VLKPY) 0.3 $60M 2.0M 30.05
Hong Kong Exchanges & Clear - (HKXCY) 0.3 $59M 3.7M 15.98
Sberbank Russia 0.3 $59M 6.0M 9.82
Office Depot 0.3 $56M 26M 2.15
Telefonica (TEF) 0.3 $55M 3.2M 17.19
iShares MSCI EAFE Index Fund (EFA) 0.3 $55M 1.1M 49.53
Canadian Natural Resources (CNQ) 0.3 $56M 1.5M 37.37
Swatch Group (SWGAY) 0.3 $51M 2.7M 18.79
Teck Resources Ltd cl b (TECK) 0.2 $46M 1.3M 35.19
Flsmidth & Co A/s-un 0.2 $46M 7.8M 5.89
Baidu (BIDU) 0.2 $44M 377k 116.47
ARM Holdings 0.2 $44M 1.6M 27.67
Dassault Systemes (DASTY) 0.2 $45M 555k 80.39
SABMiller (SBMRY) 0.2 $43M 1.2M 35.22
Hang Lung Properties (HLPPY) 0.2 $41M 2.9M 14.23
OfficeMax Incorporated 0.2 $37M 8.2M 4.54
Sterling Finl Corp Wash 0.2 $38M 2.3M 16.70
Centerpoint Energy Inc Vq 09-1 convert 0.2 $38M 1.1M 34.31
Och-Ziff Capital Management 0.2 $35M 4.2M 8.41
Capitol Federal Financial (CFFN) 0.2 $37M 3.2M 11.54
Capstead Mortgage Corporation 0.2 $32M 2.5M 12.44
AllianceBernstein Holding (AB) 0.2 $30M 2.3M 13.08
Fly Leasing 0.2 $30M 2.4M 12.52
Vimpel 0.1 $29M 3.1M 9.47
Goldman Sachs (GS) 0.1 $29M 316k 90.43
Amazon (AMZN) 0.1 $28M 164k 173.10
Transocean (RIG) 0.1 $28M 716k 38.39
Qualcomm (QCOM) 0.1 $26M 473k 54.70
Dynex Capital 0.1 $26M 2.9M 9.13
Two Harbors Investment 0.1 $25M 2.7M 9.24
Las Vegas Sands (LVS) 0.1 $26M 601k 42.73
FedEx Corporation (FDX) 0.1 $23M 269k 83.51
Willis Group Holdings 0.1 $23M 592k 38.80
Vodafone 0.1 $23M 818k 28.03
Visa (V) 0.1 $22M 216k 101.53
Principal Finl Group Inc Pfdse p 0.1 $23M 234k 98.09
Affiliated Managers (AMG) 0.1 $20M 213k 95.95
Baker Hughes Incorporated 0.1 $22M 442k 48.64
SPDR Gold Trust (GLD) 0.1 $20M 134k 151.99
Paychex (PAYX) 0.1 $19M 637k 30.11
ZOLL Medical Corporation 0.1 $20M 314k 63.18
EMC Corporation 0.1 $19M 900k 21.54
Oxford Industries (OXM) 0.1 $19M 423k 45.12
Anworth Mortgage Asset Corporation 0.1 $19M 3.1M 6.28
Gentex Corporation (GNTX) 0.1 $19M 639k 29.59
Ens 0.1 $17M 353k 46.92
Medco Health Solutions 0.1 $17M 307k 55.90
SVB Financial (SIVBQ) 0.1 $17M 346k 47.69
DaVita (DVA) 0.1 $17M 217k 75.81
SBA Communications Corporation 0.1 $16M 379k 42.96
Intuit (INTU) 0.1 $16M 311k 52.59
BroadSoft 0.1 $18M 590k 30.20
Vera Bradley (VRA) 0.1 $18M 549k 32.25
Lucent Tech Cap Trust I convert 0.1 $18M 29k 614.00
Centaur Funding Corp p 0.1 $17M 15k 1130.60
Allot Communications 0.1 $16M 1.1M 15.20
HMS Holdings 0.1 $15M 477k 31.98
Citigroup Cap. p 0.1 $15M 600k 25.16
Riverbed Technology 0.1 $14M 592k 23.50
Urban Outfitters (URBN) 0.1 $13M 472k 27.56
Portfolio Recovery Associates 0.1 $14M 208k 67.52
Spdr S&p 500 Etf (SPY) 0.1 $12M 94k 125.50
Encore Capital (ECPG) 0.1 $12M 579k 21.26
Alexandria Real Estate Equitie conv prf 0.1 $12M 514k 23.99
Farm Cr Bk Tex Perp Non Cumula p 0.1 $12M 10k 1168.10
Fusion-io 0.1 $12M 474k 24.20
Imperva 0.1 $11M 319k 34.81
Invensense 0.1 $11M 1.1M 9.96
Stericycle (SRCL) 0.1 $10M 132k 77.92
Taleo Corporation 0.1 $8.7M 225k 38.69
WisdomTree Investments (WT) 0.1 $9.7M 1.6M 6.05
Taiwan Semiconductor Mfg (TSM) 0.0 $7.4M 570k 12.91
Universal Corporation (UVV) 0.0 $6.7M 146k 45.96
First Tenn Bk N A Memphis Tenn p 0.0 $7.0M 12k 585.92
PriceSmart (PSMT) 0.0 $5.1M 74k 69.58
Makemytrip Limited Mauritius (MMYT) 0.0 $5.3M 219k 24.04
Bank Of America Corp Qtr Lib + p (BML.PH) 0.0 $5.8M 420k 13.73
Interxion Holding 0.0 $6.0M 448k 13.45
Active Network 0.0 $5.8M 428k 13.60
Telefonica Brasil Sa 0.0 $5.5M 202k 27.33
First Niagara Fin Pfd Ser B 8. p 0.0 $5.1M 200k 25.60
7 Days Group Holdings 0.0 $4.3M 382k 11.15
Barclays Bank 0.0 $4.0M 200k 19.77
Summit Hotel Properties (INN) 0.0 $3.4M 358k 9.44
Falcons Funding Trust I 144a p 0.0 $3.2M 3.0k 1051.67
Solar Capital 0.0 $3.3M 150k 22.09
iShares MSCI Emerging Markets Indx (EEM) 0.0 $2.0M 52k 37.94
Colgate-Palmolive Company (CL) 0.0 $2.0M 22k 92.38
Fifth Third Ban (FITB) 0.0 $1.6M 129k 12.72
HDFC Bank (HDB) 0.0 $1.6M 60k 26.29
Banco Santander-Chile (BSAC) 0.0 $1.4M 18k 75.71
Trinity Industries (TRN) 0.0 $2.5M 83k 30.06
Credicorp (BAP) 0.0 $1.9M 17k 109.48
Morgan Stanley Pfd A preferr (MS.PA) 0.0 $1.8M 120k 14.71
Pepsi (PEP) 0.0 $332k 5.0k 66.40
iShares Russell 1000 Index (IWB) 0.0 $453k 6.5k 69.41
BofI Holding 0.0 $382k 24k 16.26
Primo Water Corporation 0.0 $375k 123k 3.04
Heinz Finance Co Pfd p 0.0 $521k 5.00 104200.00
Htc Corp - Reg S Gdr 0.0 $315k 4.8k 65.57
Green Field Energy Svc wt 0.0 $810k 18k 45.00
Hargreaves Lansdown Plc- (HRGLY) 0.0 $142k 11k 13.34