# EDGAR Filing Document

**Accession Number:** 0002038383
**File Stem:** 0001410368-25-018057
**Filing Date:** 2025-10
**Character Count:** 20273
**Document Hash:** 853256953f2a53db076b36e50758ed7d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-018057.hdr.sgml**: 20251027

**ACCESSION NUMBER**: 0001410368-25-018057

**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:** 251420085

**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 Equity ETF (Series ID: S000089221)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000255736 | Thornburg International Equity ETF | TXUE            |

## 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 Equity ETF

- **b. EDGAR series identifier (if any):** S000089221

- **c. LEI of Series:** 254900L4IZ4WRQ8DOL80

**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:** $220672856.09

**Total Liabilities:** $115099.62

**Net Assets:** $220557756.47

**Cash Not Reported:** $883.00

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000255736 | 1.98%                | -0.41%               | 2.57%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $236276.12               | $2605933.45                                |
| Month 2  | $-366490.76              | $-808192.08                                |
| Month 3  | $242265.91               | $4532552.85                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Deutsche Post AG                          | Deutsche Post AG                          | CUSIP: 25157Y202<br>LEI: 8ER8GIG7CSMVD8VUFE78 | Long             | EC               | CORP              | DE        |     66740 | NS      | $3039339.60   | 1.38%             |  |  |  | No            |                  1 | On Loan: No      |
| LVMH Moet Hennessy Louis Vuitton SE       | LVMH Moet Hennessy Louis Vuitton SE       | CUSIP: 000000000<br>LEI: IOG4E947OATN0KJYSD45 | Long             | EC               | CORP              | FR        |      4095 | NS      | $2416250.16   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| L'Oreal SA                                | L'Oreal SA                                | CUSIP: 000000000<br>LEI: 529900JI1GG6F7RKVI53 | Long             | EC               | CORP              | FR        |     11976 | NS      | $5577723.99   | 2.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi UFJ Financial Group Inc        | Mitsubishi UFJ Financial Group Inc        | CUSIP: 000000000<br>LEI: 353800V2V8PUY9TK3E06 | Long             | EC               | CORP              | JP        |    398083 | NS      | $6124770.97   | 2.78%             |  |  |  | No            |                  1 | On Loan: No      |
| SAP SE                                    | SAP SE                                    | CUSIP: 000000000<br>LEI: 529900D6BF99LW9R2E68 | Long             | EC               | CORP              | DE        |     12415 | NS      | $3367007.24   | 1.53%             |  |  |  | No            |                  1 | On Loan: No      |
| Endesa SA                                 | Endesa SA                                 | CUSIP: 000000000<br>LEI: 549300LHK07F2CHV4X31 | Long             | EC               | CORP              | ES        |     72086 | NS      | $2197167.67   | 1.00%             |  |  |  | No            |                  1 | On Loan: No      |
| BNP Paribas SA                            | BNP Paribas SA                            | CUSIP: 000000000<br>LEI: R0MUWSFPU8MPRO8K5P83 | Long             | EC               | CORP              | FR        |     78338 | NS      | $7044896.32   | 3.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Sony Group Corp                           | Sony Group Corp                           | CUSIP: 000000000<br>LEI: 529900R5WX9N2OI2N910 | Long             | EC               | CORP              | JP        |    175510 | NS      | $4880690.14   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| Diageo PLC                                | Diageo PLC                                | CUSIP: 25243Q205<br>LEI: 213800ZVIELEA55JMJ32 | Long             | EC               | CORP              | GB        |     21706 | NS      | $2427381.98   | 1.10%             |  |  |  | No            |                  1 | On Loan: No      |
| Iberdrola SA                              | Iberdrola SA                              | CUSIP: 000000000<br>LEI: 5QK37QC7NWOJ8D7WVQ45 | Long             | EC               | CORP              | ES        |    300564 | NS      | $5655346.73   | 2.56%             |  |  |  | No            |                  1 | On Loan: No      |
| Orange SA                                 | Orange SA                                 | CUSIP: 000000000<br>LEI: 969500MCOONR8990S771 | Long             | EC               | CORP              | FR        |    531920 | NS      | $8654309.31   | 3.92%             |  |  |  | No            |                  1 | On Loan: No      |
| ABB Ltd                                   | ABB Ltd                                   | CUSIP: 000000000<br>LEI: 5493000LKVGOO9PELI61 | Long             | EC               | CORP              | CH        |     67480 | NS      | $4533291.28   | 2.06%             |  |  |  | No            |                  1 | On Loan: No      |
| Hitachi Ltd                               | Hitachi Ltd                               | CUSIP: 000000000<br>LEI: 549300T6IPOCDWLKC615 | Long             | EC               | CORP              | JP        |    208846 | NS      | $5759356.06   | 2.61%             |  |  |  | No            |                  1 | On Loan: No      |
| Hong Kong Exchanges & Clearing Ltd        | Hong Kong Exchanges & Clearing Ltd        | CUSIP: 43858F109<br>LEI: 213800YTVSXYQN17BW16 | Long             | EC               | CORP              | HK        |     14261 | NS      | $835409.38    | 0.38%             |  |  |  | No            |                  1 | On Loan: No      |
| Roche Holding AG                          | Roche Holding AG                          | CUSIP: 000000000<br>LEI: 549300U41AUUVOAAOB37 | Long             | EC               | CORP              | CH        |     16419 | NS      | $5348683.69   | 2.43%             |  |  |  | No            |                  1 | On Loan: No      |
| TotalEnergies SE                          | TotalEnergies SE                          | CUSIP: 000000000<br>LEI: 529900S21EQ1BO4ESM68 | Long             | EC               | CORP              | FR        |    104499 | NS      | $6543908.37   | 2.97%             |  |  |  | No            |                  1 | On Loan: No      |
| Alimentation Couche-Tard Inc              | Alimentation Couche-Tard Inc              | CUSIP: 01626P148<br>LEI: 549300OSW32RVX8CCZ87 | Long             | EC               | CORP              | CA        |     77317 | NS      | $3920052.71   | 1.78%             |  |  |  | No            |                  1 | On Loan: No      |
| Enel SpA                                  | Enel SpA                                  | CUSIP: 000000000<br>LEI: WOCMU6HCI0OJWNPRZS33 | Long             | EC               | CORP              | IT        |    608701 | NS      | $5617226.34   | 2.55%             |  |  |  | No            |                  1 | On Loan: No      |
| Rheinmetall AG                            | Rheinmetall AG                            | CUSIP: 000000000<br>LEI: 5299001OU9CSE29O6S05 | Long             | EC               | CORP              | DE        |       887 | NS      | $1754094.99   | 0.80%             |  |  |  | No            |                  1 | On Loan: No      |
| Thornburg Capital Management Fund         | Thornburg Capital Management Fund         | CUSIP: 885216739<br>LEI: 549300GLR0WG6ALV5277 | Long             | EC               | RF                | US        |    855025 | NS      | $8550248.21   | 3.88%             |  |  |  | No            |                  1 | On Loan: No      |
| AstraZeneca PLC                           | AstraZeneca PLC                           | CUSIP: 046353108<br>LEI: PY6ZZQWO2IZFZC3IOL08 | Long             | EC               | CORP              | GB        |    112760 | NS      | $9009524.00   | 4.08%             |  |  |  | No            |                  1 | On Loan: No      |
| MTU Aero Engines AG                       | MTU Aero Engines AG                       | CUSIP: 000000000<br>LEI: 529900807L67JY81RD65 | Long             | EC               | CORP              | DE        |     12280 | NS      | $5476393.36   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| Ferrovial SE                              | Ferrovial SE                              | CUSIP: 000000000<br>LEI: 72450022R2ZFL41Y6I04 | Long             | EC               | CORP              | NL        |     89680 | NS      | $4901068.43   | 2.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Linde PLC                                 | Linde PLC                                 | CUSIP: 000000000<br>LEI: 5299003QR1WT0EF88V51 | Long             | EC               | CORP              | IE        |     10360 | NS      | $4955084.40   | 2.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Compass Group PLC                         | Compass Group PLC                         | CUSIP: 000000000<br>LEI: 2138008M6MH9OZ6U2T68 | Long             | EC               | CORP              | GB        |     77133 | NS      | $2617768.96   | 1.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Air Liquide SA                            | Air Liquide SA                            | CUSIP: 000000000<br>LEI: 969500MMPQVHK671GT54 | Long             | EC               | CORP              | FR        |     17160 | NS      | $3539515.13   | 1.60%             |  |  |  | No            |                  1 | On Loan: No      |
| Keyence Corp                              | Keyence Corp                              | CUSIP: 000000000<br>LEI: 529900M7PQBS7A89DZ11 | Long             | EC               | CORP              | JP        |     10666 | NS      | $4124743.61   | 1.87%             |  |  |  | No            |                  1 | On Loan: No      |
| Internet Initiative Japan Inc             | Internet Initiative Japan Inc             | CUSIP: 000000000<br>LEI: 529900EOCJNAPUHDFR78 | Long             | EC               | CORP              | JP        |    144635 | NS      | $2737056.68   | 1.24%             |  |  |  | No            |                  1 | On Loan: No      |
| Recruit Holdings Co Ltd                   | Recruit Holdings Co Ltd                   | CUSIP: 000000000<br>LEI: 353800R2LRSMVVC4I806 | Long             | EC               | CORP              | JP        |     57482 | NS      | $3358679.23   | 1.52%             |  |  |  | No            |                  1 | On Loan: No      |
| FANUC Corp                                | FANUC Corp                                | CUSIP: 000000000<br>LEI: 529900QTSW745LOKW705 | Long             | EC               | CORP              | JP        |     99325 | NS      | $2826356.89   | 1.28%             |  |  |  | No            |                  1 | On Loan: No      |
| Amer Sports Inc                           | Amer Sports Inc                           | CUSIP: 000000000<br>LEI: 391200YCSWTRD1J21867 | Long             | EC               | CORP              | KY        |     38840 | NS      | $1527188.80   | 0.69%             |  |  |  | No            |                  1 | On Loan: No      |
| Alcon AG                                  | Alcon AG                                  | CUSIP: 000000000<br>LEI: 549300LDT5AP8S0NBM78 | Long             | EC               | CORP              | CH        |     68734 | NS      | $5476010.81   | 2.48%             |  |  |  | No            |                  1 | On Loan: No      |
| ING Groep NV                              | ING Groep NV                              | CUSIP: 000000000<br>LEI: 549300NYKK9MWM7GGW15 | Long             | EC               | CORP              | NL        |    237080 | NS      | $5649941.94   | 2.56%             |  |  |  | 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        |     81239 | NS      | $6189599.41   | 2.81%             |  |  |  | No            |                  1 | On Loan: No      |
| Japan Exchange Group Inc                  | Japan Exchange Group Inc                  | CUSIP: 000000000<br>LEI: 353800578ADEGIJTVW07 | Long             | EC               | CORP              | JP        |    245958 | NS      | $2594013.03   | 1.18%             |  |  |  | No            |                  1 | On Loan: No      |
| Freeport-McMoRan Inc                      | Freeport-McMoRan Inc                      | CUSIP: 35671D857<br>LEI: 549300IRDTHJQ1PVET45 | Long             | EC               | CORP              | US        |    109900 | NS      | $4879560.00   | 2.21%             |  |  |  | No            |                  1 | On Loan: No      |
| FUJIFILM Holdings Corp                    | FUJIFILM Holdings Corp                    | CUSIP: 000000000<br>LEI: 529900UBKMFM0ST6H474 | Long             | EC               | CORP              | JP        |     69606 | NS      | $1664475.85   | 0.75%             |  |  |  | No            |                  1 | On Loan: No      |
| Danone SA                                 | Danone SA                                 | CUSIP: 000000000<br>LEI: 969500KMUQ2B6CBAF162 | Long             | EC               | CORP              | FR        |     34780 | NS      | $2897736.25   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| E.ON SE                                   | E.ON SE                                   | CUSIP: 000000000<br>LEI: Q9MAIUP40P25UFBFG033 | Long             | EC               | CORP              | DE        |    403408 | NS      | $7198520.21   | 3.26%             |  |  |  | No            |                  1 | On Loan: No      |
| Generali                                  | Generali                                  | CUSIP: 000000000<br>LEI: 549300X5UKJVE386ZB61 | Long             | EC               | CORP              | IT        |    121967 | NS      | $4762551.41   | 2.16%             |  |  |  | No            |                  1 | On Loan: No      |
| Mitsubishi Electric Corp                  | Mitsubishi Electric Corp                  | CUSIP: 000000000<br>LEI: 549300TRXM9Y6561AX39 | Long             | EC               | CORP              | JP        |    178494 | NS      | $4318138.52   | 1.96%             |  |  |  | No            |                  1 | On Loan: No      |
| Barratt Redrow PLC                        | Barratt Redrow PLC                        | CUSIP: 000000000<br>LEI: 2138006R85VEOF5YNK29 | Long             | EC               | CORP              | GB        |    554860 | NS      | $2696468.25   | 1.22%             |  |  |  | No            |                  1 | On Loan: No      |
| Shell PLC                                 | Shell PLC                                 | CUSIP: 000000000<br>LEI: 21380068P1DRHMJ8KU70 | Long             | EC               | CORP              | GB        |     84800 | NS      | $3135571.95   | 1.42%             |  |  |  | No            |                  1 | On Loan: No      |
| Siemens AG                                | Siemens AG                                | CUSIP: 000000000<br>LEI: W38RGI023J3WT1HWRP32 | Long             | EC               | CORP              | DE        |     13184 | NS      | $3651179.86   | 1.66%             |  |  |  | No            |                  1 | On Loan: No      |
| NN Group NV                               | NN Group NV                               | CUSIP: 000000000<br>LEI: 724500OHYNDT9OY6Q215 | Long             | EC               | CORP              | NL        |    105518 | NS      | $7264786.64   | 3.29%             |  |  |  | No            |                  1 | On Loan: No      |
| Glencore PLC                              | Glencore PLC                              | CUSIP: 000000000<br>LEI: 2138002658CPO9NBH955 | Long             | EC               | CORP              | JE        |    730984 | NS      | $2885755.54   | 1.31%             |  |  |  | No            |                  1 | On Loan: No      |
| Taiwan Semiconductor Manufacturing Co Ltd | Taiwan Semiconductor Manufacturing Co Ltd | CUSIP: 000000000<br>LEI: 549300KB6NK5SBD14S87 | Long             | EC               | CORP              | TW        |     72886 | NS      | $2765755.41   | 1.25%             |  |  |  | No            |                  1 | On Loan: No      |
| Galaxy Entertainment Group Ltd            | Galaxy Entertainment Group Ltd            | CUSIP: 36318L203<br>LEI: 549300ZSEBV3HR826S10 | Long             | EC               | CORP              | HK        |    177757 | NS      | $4699895.08   | 2.13%             |  |  |  | No            |                  1 | On Loan: No      |
| Safran SA                                 | Safran SA                                 | CUSIP: 000000000<br>LEI: 969500UIC89GT3UL7L24 | Long             | EC               | CORP              | FR        |     12186 | NS      | $4063730.66   | 1.84%             |  |  |  | No            |                  1 | On Loan: No      |
| Schneider Electric SE                     | Schneider Electric SE                     | CUSIP: 000000000<br>LEI: 969500A1YF1XUYYXS284 | Long             | EC               | CORP              | FR        |     17620 | NS      | $4332114.06   | 1.96%             |  |  |  | No            |                  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