TXUE opportunistically constructs a portfolio of 50-55 non-US large-cap issuers across sectors and developed markets. Investments consist of basic value stocks, consistent earners, and emerging franchises. The objective is to optimize risk-adjusted returns by identifying undervalued companies with strong fundamentals, including those mispriced due to unfavorable market perceptions or industry-specific challenges. Positions are based on bottom-up fundamental analysis of company-specific factors, complemented by macroeconomic insights on interest rates, inflation, and geopolitical trends. While predominantly focused on large-cap stocks, the fund may invest across all capitalizations. The fund may use derivatives, such as currency forwards, to hedge foreign currency exposure.
Thornburg International Equity ETF · Issued by Thornburg
| 2330.TW | Taiwan Semiconductor Manufacturing Co Ltd | 3.46% |
| BNP.PA | BNP Paribas Act. Cat.A | 3.34% |
| 8306.T | Mitsubishi UFJ Financial Group Inc | 3.11% |
| SIE.DE | Siemens AG | 2.91% |
| NN.AS | NN Group NV | 2.88% |
| ORA.PA | Orange SA | 2.82% |
| TTE.PA | TotalEnergies SE | 2.74% |
| AZN.L | AstraZeneca PLC | 2.69% |
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