Thornburg Investment Management is a privately owned global investment firm offering a range of solutions for investors around the world. Founded in 1982 and headquartered in Santa Fe, NM, we manage U.S. mutual funds, separate accounts for high-net-worth investors and institutional accounts, and UCITS funds for non-U.S. investors.

At Thornburg, it’s more than what we do; it’s how we do it. A flexible perspective built on collaboration and cross-pollination of ideas, an unconventional approach to portfolio construction, and a reputation of integrity are important aspects of how we do business. Far from the groupthink of Wall Street, Thornburg is positioned to offer a different point of view and a broader frame of reference in our global search for relative value opportunities.


At Thornburg, we value curiosity, initiative and a genuine interest in collaborating with colleagues. Equity Research Analysts act as global generalists, and cover stocks across sectors and countries to contribute to the success of all Thornburg investment strategies. We are a fundamentally-focused, long-term oriented, and privately held firm.

An analyst works directly with portfolio managers and peers to review existing portfolio holdings and to consider new investment ideas. Analysts investigate companies by qualitatively and quantitatively analyzing their fundamental characteristics, and then engaging with teammates to build a holistic perspective. We are committed to integrating Environmental, Social and Governance (ESG) considerations into our work. Analysts build financial forecasts, and articulate well-formulated theses and recommendations to portfolio teams through presentations, written documents and 1x1 conversations. Research and recommendations will have a meaningful impact on client outcomes and firm success.

Portfolio managers and other senior colleagues act as mentors for less experienced members of the team. Our interest is to help each analyst maximize their potential over time; we care about how a candidate can contribute today, but we are most interested in who a candidate can become.


  • Be a partner to colleagues. We compete against the market and other asset managers, but not against each other.
  • Qualitatively and quantitatively analyze equity securities for investment purposes.
  • Be knowledgeable and provide insight regarding business strengths and weaknesses, and a company’s ability to execute its strategy.
  • Leverage skills in creative thinking and problem solving, accounting, finance and economics to craft and maintain financial models on individual companies.
  • Monitor covered companies on an ongoing basis to interpret and communicate developments that may impact share price performance, such as company-specific developments and macroeconomic or policy news.
  • Serve in a global generalist capacity, with coverage responsibilities spanning geographies, industries, and the investment styles of different portfolios.


  • Bachelor’s degree required
  • Willingness to make progress toward a CFA designation is preferred
  • Multiple years’ experience in a role where the candidate has gained experience in analytical thinking, financial forecasting, business strategy, business operations, and/or equity research and analysis. This may include:
    • 2+ years of experience as an equity-oriented buyside or sellside research analyst, or
    • 2+ years of experience in investment banking, private equity, consulting, or a similar field, or
    • 3+ years of experience in a financial and/or accounting role such as corporate strategy, corporate development or planning, investor relations, etc.
    • Other roles where the candidate gained the relevant experience and knowledge.


  • Broad intellectual curiosity combined with a strong interest in investing
  • Strong analytical skills to “connect the dots” and help the analyst understand business trends, financial outcomes, assess valuations, and consider ESG characteristics.
  • The ability and willingness to conduct deep research and articulate high-quality analysis for potential or current investments.
  • A sense of urgency to respond quickly to new information which could impact investments
  • The ability to effectively communicate complex ideas verbally and in writing
  • Intellectual flexibility and nimbleness as required by Thornburg’s global generalist process
  • Ability to be adaptable and flexible as facts change or new information is obtained
  • A commitment to contribute to the overall success of the organization by demonstrating respect and support for all employees, collaboration with the broad team, comfort with open and honest communication, personal accountability, and a focus on driving the best outcomes for clients.


  • Ability to work at a computer for extended periods of time
  • Ability to travel occasionally

Santa Fe is the capital of New Mexico. Founded in 1610 and nicknamed "The City Different," Santa Fe captures hearts and minds with its museums, restaurants, theater, opera, and adobe-style architecture. With an average of over 300 sunny days per year and picturesque landscape, it's no wonder that outdoor activities such as skiing and hiking in "The Land of Enchantment" attract visitors from around the world.

Thornburg believes that diversity and inclusivity are vital to positive long-term success for our strategies and the firm's broader business outcomes. We are proud to be an equal opportunity employer. All qualified applications receive consideration for employment without regard to race, creed, color, religion, sex, gender, gender identity, sexual orientation, marital status, national origin, disability, age, or veteran status. The firm provides annual progress reports to the investment management team, shareholders, and executive management to highlight multiple diversity and inclusivity metrics and continually work to bring awareness to the importance of this issue.

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Equity Research Analyst