# EDGAR Filing Document

**Accession Number:** 0002038383
**File Stem:** 0001410368-25-018056
**Filing Date:** 2025-10
**Character Count:** 18280
**Document Hash:** e5b6544d3cdba77084b7776091e4c103
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-018056.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0001410368-25-018056

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250831

**FILED AS OF DATE**: 20251027

**DATE AS OF CHANGE**: 20251027

**PERIOD START**: 20250831

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Thornburg ETF Trust
- **CENTRAL INDEX KEY:** 0002038383

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MA

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-24005
- **FILM NUMBER:** 251420084

**BUSINESS ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506
- **BUSINESS PHONE:** 617-235-4739

**MAIL ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506

## Series and Classes Contracts Data

### Thornburg International Growth ETF (Series ID: S000089222)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000255737 | Thornburg International Growth ETF | TXUG            |

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Thornburg ETF Trust

- **b. Investment Company Act file number:** 811-24005

- **c. CIK number of Registrant:** 0002038383

- **d. LEI of Registrant:** 254900IY5G5O8L5LH268

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 2300 NORTH RIDGETOP ROAD

  - **City:** SANTA FE

  - **State:** NM

  - **Foreign country:** US

  - **Zip / Postal Code:** 87506

  - **Telephone number:** 617-235-4739

**Item A.2. Information about the Series.**

- **a. Name of Series:** Thornburg International Growth ETF

- **b. EDGAR series identifier (if any):** S000089222

- **c. LEI of Series:** 2549001A4QZVGWJNAQ93

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2025-08-31

- **b. Date as of which information is reported:** 2025-08-31

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $5126522.37

**Total Liabilities:** $3028.57

**Net Assets:** $5123493.80

**Cash Not Reported:** $71.18

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255737 | 1.53%                | -2.09%               | 1.43%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2.66                   | $78599.68                                  |
| Month 2  | $-2477.79                | $-104203.58                                |
| Month 3  | $-77315.58               | $145041.30                                 |

### Schedule of Portfolio Investments

| Name                                      | Title                                     | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| L'Oreal SA                                | L'Oreal SA                                | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |       216 | NS      | $100600.23    | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Beiersdorf AG                             | Beiersdorf AG                             | CUSIP: 000000000<br>LEI: L47NHHI0Z9X22DV46U41 | Long             | EC               | CORP              | DE        |      1101 | NS      | $126603.87    | 2.47%             |  |  |  | No            |                  1 | On Loan: No      |
| ASML Holding NV                           | ASML Holding NV                           | CUSIP: 000000000<br>LEI: 724500Y6DUVHQD6OXN27 | Long             | EC               | CORP              | NL        |       163 | NS      | $121457.83    | 2.37%             |  |  |  | No            |                  1 | On Loan: No      |
| Marex Group PLC                           | Marex Group PLC                           | CUSIP: 000000000<br>LEI: 549300DWX0SVICJAL507 | Long             | EC               | CORP              | GB        |      1377 | NS      | $48690.72     | 0.95%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG                       | MTU Aero Engines AG                       | CUSIP: 62473G102<br>LEI: 529900807L67JY81RD65 | Long             | EC               | CORP              | DE        |       237 | NS      | $52860.48     | 1.03%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                            | BNP Paribas SA                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |       549 | NS      | $49371.29     | 0.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Deutsche Boerse AG                        | Deutsche Boerse AG                        | CUSIP: 000000000<br>LEI: 529900G3SW56SHYNPR95 | Long             | EC               | CORP              | DE        |       448 | NS      | $131934.98    | 2.58%             |  |  |  | No            |                  1 | On Loan: No      |
| Sea Ltd                                   | Sea Ltd                                   | CUSIP: 81141R100<br>LEI: 529900OM6JLLW44YKI15 | Long             | EC               | CORP              | KY        |      1348 | NS      | $251455.92    | 4.91%             |  |  |  | No            |                  1 | On Loan: No      |
| Vend Marketplaces ASA                     | Vend Marketplaces ASA                     | CUSIP: 000000000<br>LEI: 5967007LIEEXZXHT0O36 | Long             | EC               | CORP              | NO        |      6725 | NS      | $260634.79    | 5.09%             |  |  |  | No            |                  1 | On Loan: No      |
| ASM International NV                      | ASM International NV                      | CUSIP: 000000000<br>LEI: 7245001I22ND6ZFHX623 | Long             | EC               | CORP              | NL        |       152 | NS      | $73070.08     | 1.43%             |  |  |  | No            |                  1 | On Loan: No      |
| Globant SA                                | Globant SA                                | CUSIP: 000000000<br>LEI: 2221008DCMSPYS42DS88 | Long             | EC               | CORP              | LU        |       410 | NS      | $27576.60     | 0.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd        | Hong Kong Exchanges & Clearing Ltd        | CUSIP: 43858F109<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |      1065 | NS      | $62387.70     | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| BioArctic AB                              | BioArctic AB                              | CUSIP: 000000000<br>LEI: 549300Y0OI2WVUNHLC33 | Long             | EC               | CORP              | SE        |       609 | NS      | $19467.82     | 0.38%             |  |  |  | Yes           |                  1 | On Loan: No      |
| Novo Nordisk A/S                          | Novo Nordisk A/S                          | CUSIP: 000000000<br>LEI: 549300DAQ1CVT6CXN342 | Long             | EC               | CORP              | DK        |      2822 | NS      | $158772.76    | 3.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Thornburg Capital Management Fund         | Thornburg Capital Management Fund         | CUSIP: 885216739<br>LEI: 549300GLR0WG6ALV5277 | Long             | EC               | RF                | US        |     13962 | NS      | $139622.50    | 2.73%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                           | AstraZeneca PLC                           | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |      2656 | NS      | $212214.40    | 4.14%             |  |  |  | No            |                  1 | On Loan: No      |
| Thales SA                                 | Thales SA                                 | CUSIP: 883219206<br>LEI: 529900FNDVTQJOVVPZ19 | Long             | EC               | CORP              | FR        |      1321 | NS      | $69326.08     | 1.35%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                            | Air Liquide SA                            | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |       920 | NS      | $189764.21    | 3.70%             |  |  |  | No            |                  1 | On Loan: No      |
| Wolters Kluwer NV                         | Wolters Kluwer NV                         | CUSIP: 000000000<br>LEI: 724500TEM53I0U077B74 | Long             | EC               | CORP              | NL        |       860 | NS      | $108313.36    | 2.11%             |  |  |  | No            |                  1 | On Loan: No      |
| BE Semiconductor Industries NV            | BE Semiconductor Industries NV            | CUSIP: 000000000<br>LEI: 7245007A1YFLI2GNYX06 | Long             | EC               | CORP              | NL        |       616 | NS      | $82990.30     | 1.62%             |  |  |  | No            |                  1 | On Loan: No      |
| WiseTech Global Ltd                       | WiseTech Global Ltd                       | CUSIP: 000000000<br>LEI: 254900VE3AF301Q85K83 | Long             | EC               | CORP              | AU        |       675 | NS      | $44969.55     | 0.88%             |  |  |  | No            |                  1 | On Loan: No      |
| Nomura Research Institute Ltd             | Nomura Research Institute Ltd             | CUSIP: 000000000<br>LEI: 5299005F1HCVF4M4QN79 | Long             | EC               | CORP              | JP        |      5132 | NS      | $202588.61    | 3.95%             |  |  |  | No            |                  1 | On Loan: No      |
| Cadence Design Systems Inc                | Cadence Design Systems Inc                | CUSIP: 127387108<br>LEI: GCT7RXJOGLXPV0NXZY22 | Long             | EC               | CORP              | US        |       156 | NS      | $54667.08     | 1.07%             |  |  |  | No            |                  1 | On Loan: No      |
| Mastercard Inc                            | Mastercard Inc                            | CUSIP: 57636Q104<br>LEI: AR5L2ODV9HN37376R084 | Long             | EC               | CORP              | US        |       292 | NS      | $173824.68    | 3.39%             |  |  |  | No            |                  1 | On Loan: No      |
| ICON PLC                                  | ICON PLC                                  | CUSIP: 000000000<br>LEI: 6354008SRQGEMC4XFI67 | Long             | EC               | CORP              | IE        |       335 | NS      | $59609.90     | 1.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                                  | Alcon AG                                  | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |      1314 | NS      | $104685.86    | 2.04%             |  |  |  | No            |                  1 | On Loan: No      |
| Canadian Pacific Kansas City Ltd          | Canadian Pacific Kansas City Ltd          | CUSIP: 13646K108<br>LEI: N/A                  | Long             | EC               | CORP              | CA        |       650 | NS      | $49523.50     | 0.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Arista Networks Inc                       | Arista Networks Inc                       | CUSIP: 040413205<br>LEI: 635400H1WKBLOQERUU95 | Long             | EC               | CORP              | US        |       655 | NS      | $89440.25     | 1.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Lonza Group AG                            | Lonza Group AG                            | CUSIP: 000000000<br>LEI: 549300EFW4H2TCZ71055 | Long             | EC               | CORP              | CH        |       235 | NS      | $166754.27    | 3.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrari NV                                | Ferrari NV                                | CUSIP: 000000000<br>LEI: 549300RIVY5EX8RCON76 | Long             | EC               | CORP              | NL        |       491 | NS      | $234310.11    | 4.57%             |  |  |  | No            |                  1 | On Loan: No      |
| CSL Ltd                                   | CSL Ltd                                   | CUSIP: 000000000<br>LEI: 529900ECSECK5ZDQTE14 | Long             | EC               | CORP              | AU        |       416 | NS      | $57963.98     | 1.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Money Forward Inc                         | Money Forward Inc                         | CUSIP: 000000000<br>LEI: 35380017JS3GIGP6WN95 | Long             | EC               | CORP              | JP        |      1717 | NS      | $75638.05     | 1.48%             |  |  |  | No            |                  1 | On Loan: No      |
| AerCap Holdings NV                        | AerCap Holdings NV                        | CUSIP: 000000000<br>LEI: 549300SZYINBBLJQU475 | Long             | EC               | CORP              | NL        |       435 | NS      | $53722.50     | 1.05%             |  |  |  | No            |                  1 | On Loan: No      |
| Hoya Corp                                 | Hoya Corp                                 | CUSIP: 000000000<br>LEI: 353800X4VR3BHEUCJB42 | Long             | EC               | CORP              | JP        |      1582 | NS      | $207413.59    | 4.05%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                   | E.ON SE                                   | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |      4913 | NS      | $87668.89     | 1.71%             |  |  |  | No            |                  1 | On Loan: No      |
| Diploma PLC                               | Diploma PLC                               | CUSIP: 000000000<br>LEI: 2138008OGI7VYG8FGR19 | Long             | EC               | CORP              | GB        |      1888 | NS      | $137742.26    | 2.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Hemnet Group AB                           | Hemnet Group AB                           | CUSIP: 000000000<br>LEI: 5493008VIU67J3HUAR07 | Long             | EC               | CORP              | SE        |      6267 | NS      | $162864.34    | 3.18%             |  |  |  | No            |                  1 | On Loan: No      |
| NU Holdings Ltd/Cayman Islands            | NU Holdings Ltd/Cayman Islands            | CUSIP: 000000000<br>LEI: 5493002DG1RHWK9W2X27 | Long             | EC               | CORP              | KY        |      5628 | NS      | $83294.40     | 1.63%             |  |  |  | No            |                  1 | On Loan: No      |
| Brunello Cucinelli SpA                    | Brunello Cucinelli SpA                    | CUSIP: 000000000<br>LEI: 5493003CX2RZ0FOBH256 | Long             | EC               | CORP              | IT        |       682 | NS      | $78886.11     | 1.54%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |      4746 | NS      | $180093.23    | 3.52%             |  |  |  | No            |                  1 | On Loan: No      |
| MercadoLibre Inc                          | MercadoLibre Inc                          | CUSIP: 58733R102<br>LEI: 549300DKPDN9M5S8GB14 | Long             | EC               | CORP              | US        |       107 | NS      | $264601.37    | 5.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Flutter Entertainment PLC                 | Flutter Entertainment PLC                 | CUSIP: 000000000<br>LEI: 635400EG4YIJLJMZJ782 | Long             | EC               | CORP              | IE        |       322 | NS      | $98908.74     | 1.93%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                     | Schneider Electric SE                     | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |       436 | NS      | $107196.47    | 2.09%             |  |  |  | No            |                  1 | On Loan: No      |
| Fairfax India Holdings Corp               | Fairfax India Holdings Corp               | CUSIP: 303897102<br>LEI: 549300K2JHXU7AX7CV78 | Long             | EC               | CORP              | CA        |      3211 | NS      | $59371.39     | 1.16%             |  |  |  | Yes           |                  1 | On Loan: No      |

### Signature

**Date Signed:** 2025-09-15

**Name of Applicant:** Thornburg ETF Trust

**Signature:** Christopher Luckham

**Name of Signer:** Christopher Luckham

**Title:** Manager - Fund Admin