Thornburg CA Limited-Term Muni A (LTCAX)
| Fund Assets | 275.07M |
| Expense Ratio | 0.74% |
| Min. Investment | $5,000 |
| Turnover | 46.36% |
| Dividend (ttm) | 0.38 |
| Dividend Yield | 2.89% |
| Dividend Growth | 7.57% |
| Payout Frequency | Monthly |
| Ex-Dividend Date | Jul 31, 2025 |
| Previous Close | 12.89 |
| YTD Return | 1.71% |
| 1-Year Return | 2.03% |
| 5-Year Return | 2.57% |
| 52-Week Low | 12.48 |
| 52-Week High | 13.05 |
| Beta (5Y) | n/a |
| Holdings | 181 |
| Inception Date | Feb 19, 1987 |
About LTCAX
Thornburg California Limited Term Municipal Fund Class A is an open-end municipal bond fund focused on generating tax-exempt income for California residents while emphasizing capital preservation. The fund invests primarily in a diversified, actively managed portfolio of short- to intermediate-maturity municipal obligations issued by the State of California and its local authorities, using a laddered structure to balance reinvestment opportunities and interest rate sensitivity. Its mandate centers on investment-grade securities, with flexibility to allocate a limited portion to below-investment-grade issues to capture relative value across sectors, issuers, and revenue streams. The strategy seeks to mirror municipal market structure and deal flow through rigorous credit research and a relative value framework spanning geography and revenue types. Benchmarked to a broad U.S. municipal index, the fund targets a shorter effective duration profile consistent with the Muni Single State Short category, aiming to dampen price volatility versus longer-dated bond portfolios. It serves investors seeking federally and California state tax-exempt income from a professionally managed, California-focused municipal bond portfolio.
Performance
LTCAX had a total return of 2.03% in the past year, including dividends. Since the fund's inception, the average annual return has been 1.37%.
Top 10 Holdings
21.71% of assets| Name | Symbol | Weight |
|---|---|---|
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2055 | 3.01% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2054 | 2.77% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 01.01.2054 | 2.76% |
| City of Los Angeles Department of Airports - LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE | CA.LOSAPT 5 05.15.2033 | 2.20% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2055 | 2.16% |
| San Joaquin Valley Clean Energy Authority - SAN JOAQUIN VLY CLEAN ENERGY AUTH CA CLEAN ENERGY REVENUE | CA.SSJUTL 01.01.2056 | 1.86% |
| Los Angeles Housing Authority - LOS ANGELES CA HSG AUTH MF HSG REVENUE | CA.LOSMFH 3.75 04.01.2034 | 1.86% |
| California Health Facilities Financing Authority - CALIFORNIA ST HLTH FACS FING AUTH REVENUE | CA.CASMED 06.01.2041 | 1.79% |
| California Community Choice Financing Authority - CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE | CA.CCEDEV 02.01.2052 | 1.71% |
| California State University - CALIFORNIA ST UNIV REVENUE | CA.CASHGR 11.01.2051 | 1.59% |
Dividend History
| Ex-Dividend | Amount | Pay Date |
|---|---|---|
| Jul 31, 2025 | $0.03236 | Jul 31, 2025 |
| Jun 30, 2025 | $0.03251 | Jun 30, 2025 |
| May 30, 2025 | $0.03206 | May 30, 2025 |
| Apr 30, 2025 | $0.03186 | Apr 30, 2025 |
| Mar 31, 2025 | $0.03179 | Mar 31, 2025 |
| Feb 28, 2025 | $0.03285 | Feb 28, 2025 |