Thornburg Investment Management

The firm uses a team-based approach with portfolio managers for each strategy. CEO Jason Brady, who previously served as head of fixed income, oversees overall firm strategy but does not personally manage all portfolios. Lead portfolio managers include Ben Kirby for the Thornburg Income Builder Fund and Lei Wang for the Thornburg International Value Fund (per the firm's official communications).

Thornburg is primarily a public-markets manager and does not engage in private-market or direct deal flow. Its research team analyzes publicly traded securities using fundamental bottom-up analysis, with a focus on long-term holdings. The firm publishes its quarterly portfolio holdings via SEC 13F filings, which show a concentrated set of large-cap equity and fixed-income positions.

Thornburg makes direct investments in publicly traded securities through its managed portfolios. It does not commit capital to external private funds as a limited partner. The firm's strategy is entirely focused on active public-market investing across equities and fixed income.

Thornburg invests exclusively in public-market securities — equities (large-cap, mid-cap, and international) and fixed income (government, corporate, and municipal bonds). It does not participate in venture capital, private equity, or pre-IPO stages. The firm's approach is buy-and-hold with a long-term horizon, often holding positions for multiple years.