# EDGAR Filing Document

**Accession Number:** 0000816153
**File Stem:** 0001752724-23-037742
**Filing Date:** 2023-2
**Character Count:** 150133
**Document Hash:** 8dfbbcd2396f6ad1465758468b107c7f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037742.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037742

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230224

**DATE AS OF CHANGE**: 20230224

**PERIOD START**: 20230930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THORNBURG INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000816153
- **IRS NUMBER:** 061158764
- **STATE OF INCORPORATION:** MA
- **FISCAL YEAR END:** 0930

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-05201
- **FILM NUMBER:** 23663201

**BUSINESS ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506-8361
- **BUSINESS PHONE:** 5059840200

**MAIL ADDRESS:**
- **STREET 1:** 2300 NORTH RIDGETOP ROAD
- **CITY:** SANTA FE
- **STATE:** NM
- **ZIP:** 87506-8361

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** THORNBURG INCOME TRUST
- **DATE OF NAME CHANGE:** 19920703

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LIMITED TERM TRUST
- **DATE OF NAME CHANGE:** 19870816

## Series and Classes Contracts Data

### Thornburg California Limited Term Municipal Fund (Series ID: S000011841)

| Class ID   | Class Name                                                  | Ticker Symbol   |
|:---|:---|:---|
| C000032344 | Thornburg California Limited Term Municipal Fund - Class A  | LTCAX           |
| C000032345 | Thornburg California Limited Term Municipal Fund - Class C  | LTCCX           |
| C000032346 | Thornburg California Limited Term Municipal Fund - Class I  | LTCIX           |
| C000222322 | Thornburg California Limited Term Municipal Fund - Class C2 | LTCQX           |

## Nport-Ex

SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg California Limited Term Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **ISSUER-DESCRIPTION** | **ISSUER-DESCRIPTION** | **PRINCIPAL<br> AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | **LONG-TERM MUNICIPAL BONDS — 97.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Alameda County Joint Powers Authority (Alameda County Medical Center Highland Hospital), Series A, 5.00% due 12/1/2024 | &nbsp;&nbsp;$2500000 | &nbsp;&nbsp;$2549030 |
|  | &nbsp;&nbsp;&nbsp;Apple Valley Public Financing Authority (Insured: BAM), Series A, 4.00% due 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 489350 |
|  | &nbsp;&nbsp;&nbsp;Bay Area Toll Authority (San Francisco Bay Area Toll Bridge), |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 2.95% due 4/1/2047 (put 4/1/2026) | &nbsp;&nbsp;&nbsp;&nbsp;4705000 | &nbsp;&nbsp;&nbsp;&nbsp; 4700728 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series E, 4.07% (MUNIPSA + 0.41%) due 4/1/2056 (put 4/1/2028) | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3476056 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series G, 2.00% due 4/1/2053 (put 4/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1482283 |
|  | &nbsp;&nbsp;&nbsp;Brentwood Infrastructure Financing Authority (Residential Single Family Development; Insured: AGM), Series A, 5.00% due 9/2/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2685000 | &nbsp;&nbsp;&nbsp;&nbsp; 2717177 |
|  | &nbsp;&nbsp;&nbsp;California (Children's Hospital Los Angeles Obligated Group) HFFA, Series A, 5.00% due 8/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;2640000 | &nbsp;&nbsp;&nbsp;&nbsp; 2759412 |
|  | &nbsp;&nbsp;&nbsp;California (Children's Hospital of Orange County Obligated Group) HFFA, 5.00% due 11/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 335585 |
|  | &nbsp;&nbsp;&nbsp;California (Kaiser Permanente) HFFA, Series A-1, 5.00% due 11/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3317781 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California (Providence St. Joseph Health Obligated Group) HFFA, 5.00% due 10/1/2039 (put 10/1/2027) | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 325648 |
|  | &nbsp;&nbsp;&nbsp;California (St. Joseph Health System) HFFA, Series A, 5.00% due 7/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1007911 |
|  | &nbsp;&nbsp;&nbsp;California (Stanford Health Care Obligated Group) HFFA, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;3.00% due 8/15/2054 (put 8/15/2025) | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2993964 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 11/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1653025 |
|  | &nbsp;&nbsp;&nbsp;California Community Choice Financing Authority (Guaranty: Goldman Sachs Group, Inc.) (Green Bond), |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 12/1/2053 (put 8/1/2029) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 521106 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 4.00% due 10/1/2052 (put 12/1/2027) | &nbsp;&nbsp;&nbsp;&nbsp;2440000 | &nbsp;&nbsp;&nbsp;&nbsp; 2452593 |
|  | &nbsp;&nbsp;&nbsp;California Community Choice Financing Authority (Guaranty: Morgan Stanley Group) (Green Bond), |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series A-1, 4.00% due 5/1/2053 (put 8/1/2028) | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5035215 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series B-1, 4.00% due 2/1/2052 (put 8/1/2031) | &nbsp;&nbsp;&nbsp;&nbsp;5500000 | &nbsp;&nbsp;&nbsp;&nbsp; 5428467 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank (J Paul Getty Trust), Series B-2, 3.00% due 10/1/2047 (put 10/1/2026) | &nbsp;&nbsp;&nbsp;&nbsp;3250000 | &nbsp;&nbsp;&nbsp;&nbsp; 3282373 |
|  | &nbsp;&nbsp;&nbsp;California Infrastructure & Economic Development Bank (The Scripps Research Institute), 5.00% due 7/1/2024 - 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 715000 | &nbsp;&nbsp;&nbsp;&nbsp; 758007 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Biola University Residential Hall and Parking Structure) ETM, 5.00% due 10/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 125000 | &nbsp;&nbsp;&nbsp;&nbsp; 126958 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Biola University), 5.00% due 10/1/2023 - 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2240000 | &nbsp;&nbsp;&nbsp;&nbsp; 2323006 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Biola University, Inc.), 5.00% due 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1064378 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (CHF-Davis II LLC; Insured: BAM), 5.00% due 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;5005000 | &nbsp;&nbsp;&nbsp;&nbsp; 5414724 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (CHF-Davis II LLC; Insured: BAM) (Green Bond), |  |  |
| **<sup>c</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 616741 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 5/15/2024 - 5/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1219506 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Congregational Homes, Inc. Obligated Group), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;2.75% due 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 520000 | &nbsp;&nbsp;&nbsp;&nbsp; 479623 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series B-2, 2.125% due 11/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 615000 | &nbsp;&nbsp;&nbsp;&nbsp; 562415 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Palomar Health Obligated Group; Insured: AGM) COP, Series A, 5.00% due 11/1/2027 - 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 539009 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Republic Services, Inc.) AMT, Series A, 3.875% due 7/1/2041 (put 4/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4500000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Waste Management of California, Inc.; Guaranty: Waste Management Holdings) AMT, 3.50% due 10/1/2045 (put 3/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2497062 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (Waste Management, Inc.; Guaranty: Waste Management Holdings) AMT, Series A, 4.125% due 10/1/2041 (put 10/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 755623 |
|  | &nbsp;&nbsp;&nbsp;California Pollution Control Financing Authority (Guaranty: Waste Management, Inc.) AMT, Series A1, 3.375% due 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1983122 |
|  | &nbsp;&nbsp;&nbsp;California Pollution Control Financing Authority (Republic Services, Inc.) AMT, |  |  |
| **<sup>a,d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 4.10% due 8/1/2023 (put 2/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 |
| **<sup>a,d</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series A2, 3.875% due 11/1/2042 (put 1/17/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Pollution Control Financing Authority (Waste Management, Inc.) AMT, Series A, 2.50% due 7/1/2031 - 11/1/2038 (put 5/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;3125000 | &nbsp;&nbsp;&nbsp;&nbsp; 3059534 |
|  | &nbsp;&nbsp;&nbsp;California State Public Works Board (Correctional and Rehabilitation Facilities), Series A, 5.00% due 9/1/2023 - 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;7180000 | &nbsp;&nbsp;&nbsp;&nbsp; 7359145 |
|  | &nbsp;&nbsp;&nbsp;California State Public Works Board (Judicial Council Projects), Series A, 5.00% due 3/1/2023 - 3/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;2400000 | &nbsp;&nbsp;&nbsp;&nbsp; 2407685 |
|  | &nbsp;&nbsp;&nbsp;California State Public Works Board (Laboratory Facility and San Diego Courthouse), Series I, 5.00% due 11/1/2023 - 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7122582 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Adventist Health System/West Obligated Group), Series A, 5.00% due 3/1/2037 (put 3/1/2027) | &nbsp;&nbsp;&nbsp;&nbsp;1775000 | &nbsp;&nbsp;&nbsp;&nbsp; 1886745 |
|  | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (CHF-Irvine LLC), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 5/15/2024 - 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2026940 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 517406 |
|  | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (CHF-Irvine LLC; Insured: BAM), 5.00% due 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;2420000 | &nbsp;&nbsp;&nbsp;&nbsp; 2748643 |
|  | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Cottage Health System), 5.00% due 11/1/2025 (pre-refunded 11/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 140636 |
|  | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Cottage Health System) ETM, 5.00% due 11/1/2023 - 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 360051 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Kaiser Foundation Hospitals), Series 2004-M-R, 5.00% due 4/1/2038 (put 11/1/2029) | &nbsp;&nbsp;&nbsp;&nbsp;2800000 | &nbsp;&nbsp;&nbsp;&nbsp; 3178154 |
|  | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Methodist Hospital of Southern California Obligated Group), 5.00% due 1/1/2024 - 1/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 635000 | &nbsp;&nbsp;&nbsp;&nbsp; 650969 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Southern California Edison Co.), 2.625% due 11/1/2033 (put 12/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;4895000 | &nbsp;&nbsp;&nbsp;&nbsp; 4837048 |
|  | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Southern California Edison Co.) (Green Bond), 1.75% due 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1659556 |
|  | &nbsp;&nbsp;&nbsp;Calipatria (Educational Facilities; Insured: ACA) USD GO, Series B, Zero Coupon due 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;2145000 | &nbsp;&nbsp;&nbsp;&nbsp; 1906240 |
|  | &nbsp;&nbsp;&nbsp;Carson Redevelopment Successor Agency (Redevelopment Project Area No 1; Insured: AGM), Series A, 5.00% due 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 518245 |
|  | &nbsp;&nbsp;&nbsp;Chino Basin Regional Financing Authority, Series B, 4.00% due 11/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 383125 |
|  | &nbsp;&nbsp;&nbsp;Chino Basin Regional Financing Authority (Subordinate-Inland Empire), Series A, 5.00% due 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 471453 |
|  | &nbsp;&nbsp;&nbsp;City of Antioch Public Financing Authority (Municipal Facilities Project), 5.00% due 5/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 925359 |
|  | &nbsp;&nbsp;&nbsp;City of Chula Vista (Police Facility Project) COP, 5.00% due 10/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1764200 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg California Limited Term Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **ISSUER-DESCRIPTION** | **ISSUER-DESCRIPTION** | **PRINCIPAL<br> AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;City of Chula Vista Financing Authority (Infrastructure, Facilities and Equipment), 5.00% due 5/1/2026 - 5/1/2027 | &nbsp;&nbsp;$3500000 | &nbsp;&nbsp;$3785708 |
|  | &nbsp;&nbsp;&nbsp;City of Chula Vista Redevelopment Successor Agency (Insured: AGM), 5.00% due 10/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1070000 | &nbsp;&nbsp;&nbsp;&nbsp; 1154239 |
|  | &nbsp;&nbsp;&nbsp;City of Clovis (Water System Facilities; Insured: BAM), 5.00% due 3/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1002817 |
|  | &nbsp;&nbsp;&nbsp;City of Colton Redevelopment Successor Agency (Multiple Redevelopment Project Areas; Insured: BAM), 5.00% due 8/1/2023 - 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1875000 | &nbsp;&nbsp;&nbsp;&nbsp; 1937124 |
|  | &nbsp;&nbsp;&nbsp;City of Los Angeles, 4.00% due 6/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5019240 |
|  | &nbsp;&nbsp;&nbsp;City of Los Angeles Department of Airports AMT, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 5/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1153527 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00% due 5/15/2032 | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3771582 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 5.00% due 5/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 425493 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series D, 5.00% due 5/15/2029 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4336744 |
|  | &nbsp;&nbsp;&nbsp;City of Manteca (Water Supply System), 5.00% due 7/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 650989 |
|  | &nbsp;&nbsp;&nbsp;City of Menlo Park Community Development Successor Agency (Las Pulgas Community Development Project; Insured: AGM), 5.00% due 10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1015000 | &nbsp;&nbsp;&nbsp;&nbsp; 1074393 |
|  | &nbsp;&nbsp;&nbsp;City of Norco (Community Facilities District No 2001-1), 5.00% due 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1049681 |
|  | &nbsp;&nbsp;&nbsp;City of Palmdale Community Redevelopment Successor Agency (Merged Redevelopment Project Areas), Series A, 5.00% due 9/1/2025 - 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1065815 |
|  | &nbsp;&nbsp;&nbsp;City of Rialto Redevelopment Agency (Merged Project Area; Insured: BAM), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% due 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 254032 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 9/1/2023 - 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1072337 |
|  | &nbsp;&nbsp;&nbsp;City of San Diego Redevelopment Successor Agency (Multiple Redevelopment Project Areas), Series A, 5.00% due 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1585719 |
|  | &nbsp;&nbsp;&nbsp;City of San Jose Financing Authority (Civic Center Project), Series A, 5.00% due 6/1/2024 (pre-refunded 6/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 756390 |
|  | &nbsp;&nbsp;&nbsp;City of San Jose Financing Authority (Civic Center Project) ETM, Series A, 5.00% due 6/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1008181 |
|  | &nbsp;&nbsp;&nbsp;City of San Mateo (San Mateo Community Facilities District No 2008-1; Insured: BAM), 5.00% due 9/1/2027 - 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;3915000 | &nbsp;&nbsp;&nbsp;&nbsp; 4268512 |
|  | &nbsp;&nbsp;&nbsp;City of Santee CDC Successor Agency (Redevelopment and Low and Moderate Income Housing; Insured: BAM), Series A, 5.00% due 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 580056 |
|  | &nbsp;&nbsp;&nbsp;City of Stockton Redevelopment Successor Agency (Redevelopment of Midtown, North and South Stockton and Waterfront Areas; Insured: AGM), Series A, 5.00% due 9/1/2026 - 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2130898 |
|  | &nbsp;&nbsp;&nbsp;City of Victorville Electric Revenue, Series A, 5.00% due 5/1/2028 - 5/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1090000 | &nbsp;&nbsp;&nbsp;&nbsp; 1184188 |
|  | &nbsp;&nbsp;&nbsp;Commerce CDC Successor Agency (Multiple Redevelopment Project Areas; Insured: AGM), Series A, 5.00% due 8/1/2027 - 8/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;3315000 | &nbsp;&nbsp;&nbsp;&nbsp; 3571751 |
|  | &nbsp;&nbsp;&nbsp;County of Los Angeles, 4.00% due 6/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8036480 |
|  | &nbsp;&nbsp;&nbsp;County of Riverside, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 6/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4033792 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 3.70% due 10/19/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1004023 |
|  | &nbsp;&nbsp;&nbsp;County of Sacramento CA Airport System Revenue AMT, Series C, 5.00% due 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1925000 | &nbsp;&nbsp;&nbsp;&nbsp; 2045661 |
|  | &nbsp;&nbsp;&nbsp;County of San Joaquin CA (Insured: AGM) COP, 5.00% due 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 330847 |
|  | &nbsp;&nbsp;&nbsp;Desert Hot Springs Public Financing Authority (Desert Hot Springs), Series A, 4.00% due 3/1/2027 - 3/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 355000 | &nbsp;&nbsp;&nbsp;&nbsp; 373708 |
|  | &nbsp;&nbsp;&nbsp;Dinuba (CAP APPREC; Insured: AGM) USD GO, Zero Coupon due 8/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 353227 |
|  | &nbsp;&nbsp;&nbsp;Downey Public Financing Authority (Public Capital Improvements), 5.00% due 12/1/2025 - 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1445000 | &nbsp;&nbsp;&nbsp;&nbsp; 1570118 |
|  | &nbsp;&nbsp;&nbsp;Elk Grove Finance Authority (Poppy Ridge CFD No. 2003-1 and East Franklin CFD No. 2002-1), 5.00% due 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 784331 |
|  | &nbsp;&nbsp;&nbsp;Emeryville Redevelopment Successor Agency (Emeryville and Shellmound Park Projects; Insured: AGM), Series A, 5.00% due 9/1/2023 - 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;6320000 | &nbsp;&nbsp;&nbsp;&nbsp; 6472058 |
|  | &nbsp;&nbsp;&nbsp;Foothill-Eastern Transportation Corridor Agency ETM, Series A, Zero Coupon due 1/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
|  | &nbsp;&nbsp;&nbsp;Guam Power Authority (Electric Power System), Series A, 5.00% due 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1230000 | &nbsp;&nbsp;&nbsp;&nbsp; 1301564 |
|  | &nbsp;&nbsp;&nbsp;Guam Waterworks Authority (Water and Wastewater System), 5.00% due 7/1/2023 - 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2085000 | &nbsp;&nbsp;&nbsp;&nbsp; 2127767 |
|  | &nbsp;&nbsp;&nbsp;Hacienda La Puente (Educational Facilities; Insured: AGM) USD COP, 5.00% due 6/1/2024 - 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;2180000 | &nbsp;&nbsp;&nbsp;&nbsp; 2260404 |
|  | &nbsp;&nbsp;&nbsp;Indian Wells Redevelopment Agency Successor Agency (Insured: Natl-Re), 5.00% due 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 535604 |
|  | &nbsp;&nbsp;&nbsp;Indio Finance Authority (Insured: BAM), Series A, 5.00% due 11/1/2028 - 11/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1815000 | &nbsp;&nbsp;&nbsp;&nbsp; 2041219 |
|  | &nbsp;&nbsp;&nbsp;La Quinta Redevelopment Successor Agency (Redevelopment Project Areas No. 1 and 2) ETM, Series A, 5.00% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1515267 |
|  | &nbsp;&nbsp;&nbsp;Lammersville Joint USD (Insured: BAM), 5.00% due 9/1/2028 - 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;4055000 | &nbsp;&nbsp;&nbsp;&nbsp; 4666562 |
|  | &nbsp;&nbsp;&nbsp;Lodi Public Financing Authority (Lodi Electric System Revenue; Insured: AGM), 5.00% due 9/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1405000 | &nbsp;&nbsp;&nbsp;&nbsp; 1556573 |
|  | &nbsp;&nbsp;&nbsp;Long Beach Bond Finance Authority (Guaranty: Merrill Lynch & Co), Series A, 5.00% due 11/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5133990 |
|  | &nbsp;&nbsp;&nbsp;Long Beach Community College District (Insured: Natl-Re) GO, Series D, Zero Coupon due 5/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 990630 |
|  | &nbsp;&nbsp;&nbsp;Los Angeles (Educational Facilities and Information Technology Infrastructure) USD GO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00% due 7/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3031590 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series D, 5.00% due 7/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3100095 |
|  | &nbsp;&nbsp;&nbsp;Los Angeles County Redevelopment Refunding Authority Successor Agency (Bunker Hill Project), Series C, 5.00% due 6/1/2023 - 6/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1522169 |
|  | &nbsp;&nbsp;&nbsp;Los Angeles County Sanitation Districts Financing Authority (Green Bond), Series A, 5.00% due 10/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 625000 | &nbsp;&nbsp;&nbsp;&nbsp; 760650 |
|  | &nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power Water System Revenue, Series A, 5.00% due 7/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1565000 | &nbsp;&nbsp;&nbsp;&nbsp; 1729040 |
|  | &nbsp;&nbsp;&nbsp;Los Angeles Department of Water & Power Water System Revenue (Power System Capital Improvements), Series A, 5.00% due 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 321163 |
|  | &nbsp;&nbsp;&nbsp;Los Angeles USD GO, Series A, 5.00% due 7/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;4600000 | &nbsp;&nbsp;&nbsp;&nbsp; 4754086 |
|  | &nbsp;&nbsp;&nbsp;Lynwood (Insured: AGM) USD GO, 5.00% due 8/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1011564 |
|  | &nbsp;&nbsp;&nbsp;Manteca Community Facilities District No. 1989-2 (Educational Facilities; Insured: AGM) USD, Series F, 5.00% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 505986 |
|  | &nbsp;&nbsp;&nbsp;Milpitas Redevelopment Successor Agency (Redevelopment Project Area No. 1), 5.00% due 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2430155 |
|  | &nbsp;&nbsp;&nbsp;Moreno Valley Public Financing Authority (Public Improvements), 5.00% due 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1455000 | &nbsp;&nbsp;&nbsp;&nbsp; 1513136 |
|  | &nbsp;&nbsp;&nbsp;Murrieta Valley Public Financing Authority (Educational Facilities; Insured: BAM) USD GO, 5.00% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1080000 | &nbsp;&nbsp;&nbsp;&nbsp; 1095324 |
|  | &nbsp;&nbsp;&nbsp;Norman Y Mineta San Jose International Airport SJC AMT, Series A, 5.00% due 3/1/2029 - 3/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1545000 | &nbsp;&nbsp;&nbsp;&nbsp; 1693097 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Northern California Energy Authority (Commodity Supply Revenue; Guaranty: Goldman Sachs Group, Inc.), Series A, 4.00% due 7/1/2049 (put 7/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7003675 |
|  | &nbsp;&nbsp;&nbsp;Oakland (County of Alameda Educational Facilities) USD GO, Series A, 5.00% due 8/1/2023 - 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2081006 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg California Limited Term Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **ISSUER-DESCRIPTION** | **ISSUER-DESCRIPTION** | **PRINCIPAL<br> AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Peralta Community College District GO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 8/1/2031 - 8/1/2033 | &nbsp;&nbsp;$2065000 | &nbsp;&nbsp;$2412672 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 617909 |
|  | &nbsp;&nbsp;&nbsp;Pittsburg Redevelopment Successor Agency (Insured: AGM), Series A, 5.00% due 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2264783 |
|  | &nbsp;&nbsp;&nbsp;Pomona Public Financing Authority (Facilities Improvements; Insured: AGM), Series BC, 4.00% due 6/1/2024 - 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 725000 | &nbsp;&nbsp;&nbsp;&nbsp; 739062 |
|  | &nbsp;&nbsp;&nbsp;Poway Redevelopment Successor Agency (Paguay Redevelopment Project), Series A, 5.00% due 6/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;4665000 | &nbsp;&nbsp;&nbsp;&nbsp; 4914941 |
|  | &nbsp;&nbsp;&nbsp;Rancho Cucamonga Redevelopment Project Successor Agency (Rancho Redevelopment Project Area; Insured: AGM), 5.00% due 9/1/2023 - 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3075121 |
|  | &nbsp;&nbsp;&nbsp;Rancho Santa Fe Community Services District Financing Authority, Series A, 5.00% due 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1745000 | &nbsp;&nbsp;&nbsp;&nbsp; 1824314 |
|  | &nbsp;&nbsp;&nbsp;Richmond County Redevelopment Successor Agency (Joint Powers Financing Authority & Harbour Redevelopment Project; Insured: BAM), Series A, 5.00% due 9/1/2023 - 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 867125 |
|  | &nbsp;&nbsp;&nbsp;Ripon Redevelopment Successor Agency (Insured: BAM), 4.00% due 11/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 544033 |
|  | &nbsp;&nbsp;&nbsp;Riverside County Public Financing Authority (Capital Facilities Project) ETM, 5.00% due 11/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1061993 |
|  | &nbsp;&nbsp;&nbsp;Riverside County Redevelopment Successor Agency (Insured: BAM), 5.00% due 10/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 795005 |
|  | &nbsp;&nbsp;&nbsp;Riverside Financing Authority (Educational Facilities; Insured: BAM) USD, 5.00% due 9/1/2024 - 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1030000 | &nbsp;&nbsp;&nbsp;&nbsp; 1069371 |
|  | &nbsp;&nbsp;&nbsp;Riverside Redevelopment Successor Agency (Multiple Redevelopment Project Areas), Series A, 5.00% due 9/1/2023 - 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;2985000 | &nbsp;&nbsp;&nbsp;&nbsp; 3049957 |
|  | &nbsp;&nbsp;&nbsp;Rosemead CDC Successor Agency (Rosemead Merged Project Area; Insured: BAM), 5.00% due 10/1/2023 - 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;2220000 | &nbsp;&nbsp;&nbsp;&nbsp; 2334699 |
|  | &nbsp;&nbsp;&nbsp;Sacramento City Schools Joint Power Financing Authority (Sacramento City USD Educational Facility Sublease; Insured: BAM), Series A, 5.00% due 3/1/2023 - 3/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;3755000 | &nbsp;&nbsp;&nbsp;&nbsp; 3826530 |
|  | &nbsp;&nbsp;&nbsp;Sacramento County Sanitation Districts Financing Authority (Sacramento Regional County Sanitation District), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 12/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 693000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 12/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1490697 |
|  | &nbsp;&nbsp;&nbsp;Salinas Valley Solid Waste Authority (Insured: AGM) AMT ETM, Series A, 5.00% due 8/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp; 1544379 |
|  | &nbsp;&nbsp;&nbsp;San Diego (Educational System Capital Projects) USD GO, Series R-3, 5.00% due 7/1/2023 - 7/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 8116120 |
|  | &nbsp;&nbsp;&nbsp;San Diego County Regional Airport Authority, Series A, 5.00% due 7/1/2030 - 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 937091 |
|  | &nbsp;&nbsp;&nbsp;San Diego County Regional Airport Authority AMT, 5.00% due 7/1/2031 - 7/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;1530000 | &nbsp;&nbsp;&nbsp;&nbsp; 1672924 |
|  | &nbsp;&nbsp;&nbsp;San Francisco City & County Airport Comm-San Francisco International Airport AMT, Series A, 5.00% due 5/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3317826 |
|  | &nbsp;&nbsp;&nbsp;San Francisco City & County Airports Commission (San Francisco International Airport), Series A, 5.00% due 5/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 5344975 |
|  | &nbsp;&nbsp;&nbsp;San Francisco City & County Airports Commission (San Francisco International Airport) AMT, Series H, 5.00% due 5/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 538138 |
|  | &nbsp;&nbsp;&nbsp;San Joaquin Hills Transportation Corridor Agency, Series A, 5.00% due 1/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 840417 |
|  | &nbsp;&nbsp;&nbsp;San Mateo County Joint Powers Financing Authority (Maple Street Correctional Center), 5.00% due 6/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 585000 | &nbsp;&nbsp;&nbsp;&nbsp; 590427 |
|  | &nbsp;&nbsp;&nbsp;Santa Clara County Financing Authority (Multiple Facilities Projects), Series P, 5.00% due 5/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;6755000 | &nbsp;&nbsp;&nbsp;&nbsp; 7131422 |
|  | &nbsp;&nbsp;&nbsp;Santa Margarita Water District (Talega Community Facilities), Series A, 5.00% due 9/1/2026 - 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1125421 |
|  | &nbsp;&nbsp;&nbsp;Semitropic Water Storage Improvement District (Irrigation Water System; Insured: AGM), Series A, 5.00% due 12/1/2023 - 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2840000 | &nbsp;&nbsp;&nbsp;&nbsp; 2996805 |
|  | &nbsp;&nbsp;&nbsp;South Placer Wastewater Authority (Roseville), 5.00% due 11/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 586776 |
|  | &nbsp;&nbsp;&nbsp;Southwestern Community College District GO, Series B, 4.00% due 8/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp;&nbsp; 398168 |
|  | &nbsp;&nbsp;&nbsp;Stockton Public Financing Authority (Stockton Water Revenue; Green Bond; Insured: BAM), Series A, 5.00% due 10/1/2023 - 10/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2630000 | &nbsp;&nbsp;&nbsp;&nbsp; 2789906 |
|  | &nbsp;&nbsp;&nbsp;Temecula Valley Financing Authority (Educational Facilities; Insured: BAM) USD, 5.00% due 9/1/2023 - 9/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 924740 |
|  | &nbsp;&nbsp;&nbsp;Temecula Valley Financing Authority (Insured: BAM) USD, 5.00% due 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2220000 | &nbsp;&nbsp;&nbsp;&nbsp; 2312094 |
|  | &nbsp;&nbsp;&nbsp;Trustees of the California State University (Educational Facilities Improvements), Series A, 5.00% due 11/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1079140 |
|  | &nbsp;&nbsp;&nbsp;Tulare Public Financing Authority (Insured: BAM), 5.00% due 4/1/2023 - 4/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1481372 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;University of California, Series AK, 5.00% due 5/15/2048 (put 5/15/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1259355 |
|  | &nbsp;&nbsp;&nbsp;Vallejo City (Insured: BAM) USD GO, 5.00% due 8/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 530011 |
|  | &nbsp;&nbsp;&nbsp;Ventura County Public Financing Authority (Office Building Purchase and Improvements), Series B, 5.00% due 11/1/2023 - 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1560000 | &nbsp;&nbsp;&nbsp;&nbsp; 1588016 |
|  | &nbsp;&nbsp;&nbsp;Vista Redevelopment Successor Agency (Vista Redevelopment Project; Insured: AGM), Series B1, 5.00% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 405132 |
|  | &nbsp;&nbsp;&nbsp;West Contra Costa (Insured: Natl-Re) USD GO, Zero Coupon due 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 160000 | &nbsp;&nbsp;&nbsp;&nbsp; 134218 |
|  | &nbsp;&nbsp;&nbsp;TOTAL LONG-TERM MUNICIPAL BONDS — 97.2% (Cost $322,476,704) |  | &nbsp;&nbsp;$320043656 |
|  | **SHORT-TERM MUNICIPAL BONDS — 1.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;California Statewide Communities Development Authority (Rady Children's Hospital Obligated Group; LOC U.S. BANK N.A.), Series A, 2.70% due 8/15/2047 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 |
| **<sup>a,d</sup>** | &nbsp;&nbsp;&nbsp;Deutsche Bank Spears/Lifers Trust (LOC Deutsche Bank A.G.), Series DBE-8087, 4.06% due 10/1/2058 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3700000 | &nbsp;&nbsp;&nbsp;&nbsp; 3700000 |
|  | &nbsp;&nbsp;&nbsp;TOTAL SHORT-TERM MUNICIPAL BONDS — 1.7% (Cost $5,700,000) |  | &nbsp;&nbsp;&nbsp; $5700000 |
|  | **Total Investments — 98.9% (Cost $328,176,704)** |  | &nbsp;&nbsp;$325743656 |
|  | **Other Assets Less Liabilities — 1.1%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3656944 |
|  | **Net Assets — 100.0%** |  | &nbsp;&nbsp;$329400600 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg California Limited Term Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | |
|:---|:---|
| **Footnote Legend** | **Footnote Legend** |
| a | Variable, floating, step, or fixed to floating rate securities are securities for which interest rate changes are based on changes in a designated base rate or on a predetermined schedule. The rates shown are those in effect on December 31, 2022. |
| b | When-issued security. |
| c | Segregated as collateral for a when-issued security. |
| d | Securities exempt from registration under Rule 144A of the Securities Act of 1933, as amended. These securities are restricted but liquid and may only be resold in the ordinary course of business in transactions exempt from registration, normally to qualified institutional buyers. As of December 31, 2022, the aggregate value of these securities in the Fund's portfolio was $9,700,000, representing 2.94% of the Fund's net assets. |

---

#### Portfolio Abbreviations<br> To simplify the listings of securities, abbreviations are used per the table below:

---

| | |
|:---|:---|
| ACA | Insured by American Capital Access |
| AGM | Insured by Assured Guaranty Municipal Corp. |
| AMT | Alternative Minimum Tax |
| BAM | Insured by Build America Mutual Insurance Co. |
| CDC | Community Development Commission |
| COP | Certificates of Participation |
| ETM | Escrowed to Maturity |

---

---

| | |
|:---|:---|
| GO | General Obligation |
| HFFA | Health Facilities Financing Authority |
| LOC | Letter of Credit |
| MUNIPSA | Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Index |
| Natl-Re | Insured by National Public Finance Guarantee Corp. |
| USD | Unified School District |

---

------

NOTES TO SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg California Limited Term Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

#### NOTE 1 – ORGANIZATION
Thornburg California Limited Term Municipal Fund (the "Fund") is a diversified series of Thornburg Investment Trust (the "Trust"). The Trust is organized as a Massachusetts business trust under a Declaration of Trust dated June 3, 1987 and is registered as a diversified, open-end management investment company under the Investment Company Act of 1940, as amended (the "1940 Act"). The Fund is currently one of twenty-one separate series of the Trust. Each series is considered to be a separate entity for financial reporting and tax purposes. The Fund currently offers four classes of shares of beneficial interest: Class A, Class C, Class C2 and Institutional Class ("Class I").

#### NOTE 2 – SECURITY VALUATION
Valuation of the Fund's portfolio investment securities is performed by Thornburg Investment Management, Inc., the Trust's investment advisor (the "Advisor"), which has been designated by the Trustees of the Trust as the Fund's "valuation designee," as that term is defined in rule 2a-5 under the 1940 Act. The Advisor performs this valuation function in accordance with policies and procedures that have been adopted by the Advisor and approved by the Trustees of the Trust (the "Valuation Policy and Procedures").

In its capacity as the Fund's valuation designee, the Advisor makes good faith determinations of the fair value of portfolio securities for which market quotations are not readily available, and otherwise complies with and administers the Valuation Policy and Procedures. The Advisor performs those functions in significant measure through its Valuation and Pricing Committee (the "Committee"), though the Advisor may also obtain the assistance of others, including professional pricing service providers selected and approved by the Committee. In accordance with the Valuation Policy and Procedures, the Committee: assesses and manages the material risks associated with determining the fair value of those Fund investments for which market quotations are not readily available; selects and applies methodologies for determining and calculating such fair values; periodically reviews and tests the appropriateness and accuracy of those methodologies; monitors for circumstances that may necessitate the use of fair value; and approves, monitors, and evaluates pricing services engaged to provide evaluated prices for the Fund's investments. The Committee provides reports on its activities to the Trustees' Audit Committee, which is responsible for overseeing the Committee's and the Advisor's work in discharging the functions under the Valuation Policy and Procedures.

In those instances when the Committee assists in calculating a fair value for a portfolio investment, the Committee seeks to determine the price that the Fund would reasonably expect to receive upon a sale of the investment in an orderly transaction between market participants on the valuation date. The Committee customarily utilizes quotations from securities broker dealers in calculating valuations, but also may utilize prices obtained from pricing service providers or other methods selected by the Committee. Because fair values calculated by the Committee are estimates, the calculation of a fair value for an investment may differ from the price that would be realized by the Fund upon a sale of the investment, and the difference could be material to the Fund's financial statements. The Committee's calculation of a fair value for an investment may also differ from the prices obtained by other persons (including other mutual funds) for the investment.

<u>Valuation of Securities:</u> Debt obligations held by the Fund which are not listed or traded on exchanges or for which no reported market exists are ordinarily valued at the valuation obtained from a pricing service provider approved by the Committee.

In any case when a pricing service provider fails to provide a valuation for a debt obligation held by the Fund, the Committee may calculate a fair value for the obligation using alternative methods selected and approved by the Committee. Additionally, in cases when the Committee believes that a valuation obtained from a pricing service provider is stale, does not reflect material factors affecting the valuation of the investment, is significantly different than the value the Fund is likely to obtain if it sought a bid for the investment, or is otherwise unreliable, the Committee may calculate a fair value for the obligation using an alternative method selected and approved by the Committee.

## 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 INVESTMENT TRUST

- **b. Investment Company Act file number:** 811-05201

- **c. CIK number of Registrant:** 0000816153

- **d. LEI of Registrant:** 5493001XM52H8S4WYY82

- **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:** 87506-8361

  - **Telephone number:** 505-984-0200

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

- **a. Name of Series:** Thornburg California Limited Term Municipal Fund

- **b. EDGAR series identifier (if any):** S000011841

- **c. LEI of Series:** 549300AEWS0TMJJM0P77

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

- **a. Date of fiscal year-end:** 2023-09-30

- **b. Date as of which information is reported:** 2022-12-31

**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:** $333914103.48

**Total Liabilities:** $1594884.45

**Net Assets:** $332319219.03

**Delayed Delivery Securities:** $521295.00

**Cash Not Reported:** $371434.84

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** -1636.20000000 | **1-Year:** -21000.14000000 | **5-Year:** -36995.17000000 | **10-Year:** -16971.23000000 | **30-Year:** -14.26000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** -657.42000000 | **1-Year:** -563.33000000 | **5-Year:** -385.36000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000032346 | -0.14%               | 1.94%                | 0.27%                |
| Class ID C000032345 | -0.18%               | 1.90%                | 0.23%                |
| Class ID C000032344 | -0.16%               | 1.93%                | 0.25%                |
| Class ID C000222322 | -0.10%               | 1.90%                | 0.15%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-2843934.15             | $1868226.46                                |
| Month 2  | $-275810.72              | $6404535.42                                |
| Month 3  | $-732477.12              | $918700.26                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Guam Government Waterworks Authority                                            | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FCR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $357329.70    | 0.11%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Schools Joint Powers Financing Authority                        | SACRAMENTO CA CITY SCHS JT PWRS FING AUTH LEASE REVENUE      | CUSIP: 785862AJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    815000 | PA      | $817484.94    | 0.25%             | 2023-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Alameda County Joint Powers Authority                                           | ALAMEDA CNTY CA JT PWRS AUTH LEASE REVENUE                   | CUSIP: 010831CS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2549030.00   | 0.77%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JAX4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2440000 | PA      | $2452592.84   | 0.74%             | 2052-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UUP1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    300000 | PA      | $325648.20    | 0.10%             | 2039-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Stockton Public Financing Authority                                             | STOCKTON CA PUBLIC FING AUTH WTR REVENUE                     | CUSIP: 861398BR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $619179.55    | 0.19%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Foothill-Eastern Transportation Corridor Agency                                 | FOOTHILL ESTRN TRANSPRTN CORRIDOR AGY CA TOLL ROAD REVENUE   | CUSIP: 345105AX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.30%             | 2023-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE     | CUSIP: 130536LV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1125000 | PA      | $1101718.13   | 0.33%             | 2031-07-01      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE              | CUSIP: 13049YEZ0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    350000 | PA      | $381056.90    | 0.11%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside Unified School District Financing Authority                           | RIVERSIDE CA UNIF SCH DIST FING AUTH SPL TAX                 | CUSIP: 769066AM3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $366125.20    | 0.11%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside Unified School District Financing Authority                           | RIVERSIDE CA UNIF SCH DIST FING AUTH SPL TAX                 | CUSIP: 769066AL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    680000 | PA      | $703245.80    | 0.21%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indio Finance Authority                                                         | INDIO CA PUBLIC FING AUTH                                    | CUSIP: 45571LDD6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $291069.38    | 0.09%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA                                                          | LOS ANGELES CA                                               | CUSIP: 544351QM4<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5019240.00   | 1.51%             | 2023-06-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEVAUTH POLL CONTROL REVENUE       | CUSIP: 13078HAY8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1659556.00   | 0.50%             | 2029-09-01      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| County of Riverside CA                                                          | RIVERSIDE CNTY CA TEETER OBLIG                               | CUSIP: 76914CAA6<br>LEI: 254900CB5HEOBAVTY629 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1004023.00   | 0.30%             | 2023-10-19      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Chula Vista Municipal Financing Authority                                       | CHULA VISTA CA MUNI FING AUTH LEASE REVENUE                  | CUSIP: 17132EBB9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2688230.00   | 0.81%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Semitropic Improvement District of the Semitropic Water Storage District        | SEMITROPIC CA IMPT DIST SEMITROPIC WTR STORAGE DIST          | CUSIP: 81684KCW6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    340000 | PA      | $367818.80    | 0.11%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hacienda La Puente Unified School District/CA                                   | HACIENDA LA PUENTE CA UNIF SCH DIST COPS                     | CUSIP: 40450PAV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    880000 | PA      | $901895.28    | 0.27%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Emeryville Redevelopment Agency Successor Agency                                | EMERYVILLE CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION         | CUSIP: 29120RAK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3900000 | PA      | $4023368.70   | 1.21%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santee CDC Successor Agency                                                     | SANTEE CA CDC SUCCESSOR AGY TAX ALLOCATION                   | CUSIP: 802862AF9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $580055.85    | 0.17%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                             | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068LCF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1003204.00   | 0.30%             | 2024-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside County Public Financing Authority                                     | RIVERSIDE CNTY CA PUBLIC FING AUTH LEASE REVENUE             | CUSIP: 76912KBT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1061993.00   | 0.32%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE     | CUSIP: 130536QR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1983122.00   | 0.60%             | 2025-07-01      | Fixed         | 3.38%                 | No            |                  2 | On Loan: No      |
| Temecula Valley Unified School District Financing Authority                     | TEMECULA VLY UNIF SCH DIST FING AUTH CA SPL TAX REVENUE      | CUSIP: 87975BAK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $309069.90    | 0.09%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside Redevelopment Agency Successor Agency                                 | RIVERSIDE CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION          | CUSIP: 76904RAK3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1292631.25   | 0.39%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UMR6<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3317781.00   | 1.00%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Mateo CA                                                            | SAN MATEO CALIF SPL TAX                                      | CUSIP: 79901PCS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1432441.40   | 0.43%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chula Vista Redevelopment Agency Successor Agency                               | CHULA VISTA CA REDEV AGY SUCCESSOR AGENCY TAX ALLOCATION     | CUSIP: 17132FAR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1070000 | PA      | $1154238.96   | 0.35%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                             | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068LLK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4070256.00   | 1.22%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                             | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068LLJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3052326.00   | 0.92%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| La Quinta Redevelopment Agency Successor Agency                                 | LA QUINTA CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION          | CUSIP: 50420BAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1515267.00   | 0.46%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Schools Joint Powers Financing Authority                        | SACRAMENTO CA CITY SCHS JT PWRS FING AUTH LEASE REVENUE      | CUSIP: 785862AK9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    765000 | PA      | $782801.55    | 0.24%             | 2024-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southwestern Community College District                                         | S WSTRN CA CMNTY CLG DIST                                    | CUSIP: 845389GS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2026-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445UL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4336744.00   | 1.30%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chino Basin Regional Financing Authority                                        | CHINO BASIN CA REGL FING AUTH                                | CUSIP: 169498FF4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy | LOS ANGELES CNTY CA REDEV REFUNDING AUTH TAX ALLOCATION REV  | CUSIP: 54465AEN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $514259.50    | 0.15%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Mateo CA                                                            | SAN MATEO CALIF SPL TAX                                      | CUSIP: 79901PCN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $320331.90    | 0.10%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vista Redevelopment Agency Successor Agency                                     | VISTA CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION              | CUSIP: 928328AX1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $405132.00    | 0.12%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Community College District                                           | LONG BEACH CA CMNTY CLG DIST                                 | CUSIP: 542411DG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $990630.00    | 0.30%             | 2023-05-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Pittsburg Successor Agency Redevelopment Agency                                 | PITTSBURG CA SUCCESSOR AGY REDEV AGY                         | CUSIP: 86459LBL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2264783.40   | 0.68%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Desert Hot Springs Public Financing Authority                                   | DESERT HOT SPRINGS CA PUBLIC FING AUTH LEASE REVENUE         | CUSIP: 25042LCN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $248706.14    | 0.07%             | 2032-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Lammersville Joint Unified School District                                      | LAMMERSVILLE CA JT UNIF SCH DIST SPL TAX                     | CUSIP: 513533GW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1560000 | PA      | $1826413.68   | 0.55%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colton Redevelopment Agency Successor Agency                                    | COLTON CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION             | CUSIP: 19704CAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $1001916.55   | 0.30%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rosemead Community Development Commission Successor Agency                      | ROSEMEAD CA CMNTY DEV COMMISSION SUCCESSOR AGY TAX ALLOCATIO | CUSIP: 77753PAJ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    405000 | PA      | $429325.92    | 0.13%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Placer Wastewater Authority/CA                                            | S PLACER CA WSTWTR AUTH WSTWTR REVENUE                       | CUSIP: 839423CN8<br>LEI: 549300FGO2EDNXECW829 | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048TV67<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    300000 | PA      | $311338.50    | 0.09%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Margarita Water District                                                  | SANTA MARGARITA CA WTR DIST SPL TAX                          | CUSIP: 802242FX0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $647370.00    | 0.19%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JBL9<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |    500000 | PA      | $521106.00    | 0.16%             | 2053-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Temecula Valley Unified School District Financing Authority                     | TEMECULA VLY UNIF SCH DIST FING AUTH CA SPL TAX REVENUE      | CUSIP: 87975BAN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2220000 | PA      | $2312094.48   | 0.70%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Power Authority                                                            | GUAM PWR AUTH REVENUE                                        | CUSIP: 400653HY0<br>LEI: 549300IPOV320QCKW060 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1301563.86   | 0.39%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SENIOR LIVING REVENUE            | CUSIP: 13049RBT2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    520000 | PA      | $479623.04    | 0.14%             | 2027-11-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE              | CUSIP: 13049YFD8<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    600000 | PA      | $616741.20    | 0.19%             | 2032-05-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEVAUTH POLL CONTROL REVENUE       | CUSIP: 13078HAX0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   4895000 | PA      | $4837048.10   | 1.46%             | 2033-11-01      | Floating      | 2.63%                 | No            |                  2 | On Loan: No      |
| Semitropic Improvement District of the Semitropic Water Storage District        | SEMITROPIC CA IMPT DIST SEMITROPIC WTR STORAGE DIST          | CUSIP: 81684KCD8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1110000 | PA      | $1177945.32   | 0.35%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE              | CUSIP: 13049YEV9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    400000 | PA      | $408723.20    | 0.12%             | 2024-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE     | CUSIP: 130536RL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.90%             | 2042-11-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SYC2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1775000 | PA      | $1886745.13   | 0.57%             | 2037-03-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JBJ4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5035215.00   | 1.52%             | 2053-05-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Peralta Community College District                                              | PERALTA CA CMNTY CLG DIST                                    | CUSIP: 713575YN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $581168.50    | 0.17%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Temecula Valley Unified School District Financing Authority                     | TEMECULA VLY UNIF SCH DIST FING AUTH CA SPL TAX REVENUE      | CUSIP: 87975BAL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $312290.70    | 0.09%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445FC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3771582.50   | 1.13%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                            | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FCS1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    510000 | PA      | $525476.97    | 0.16%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stockton Redevelopment Agency Successor Agency                                  | STOCKTON CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION           | CUSIP: 861403AD5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065322.00   | 0.32%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE              | CUSIP: 13049YEY3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    400000 | PA      | $429726.00    | 0.13%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                          | LOS ANGELES CA UNIF SCH DIST                                 | CUSIP: 5446465L2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4600000 | PA      | $4754086.20   | 1.43%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Peralta Community College District                                              | PERALTA CA CMNTY CLG DIST                                    | CUSIP: 713575WF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $617909.18    | 0.19%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lynwood Unified School District/CA                                              | LYNWOOD CA UNIF SCH DIST                                     | CUSIP: 551800DE2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011564.00   | 0.30%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Peralta Community College District                                              | PERALTA CA CMNTY CLG DIST                                    | CUSIP: 713575YQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    520000 | PA      | $605380.36    | 0.18%             | 2033-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento County Sanitation Districts Financing Authority                      | SACRAMENTO CNTY CA SANTN DISTS FING AUTH REVENUE             | CUSIP: 786134WU6<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1490697.50   | 0.45%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                     | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GKA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1030000 | PA      | $1119797.46   | 0.34%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hacienda La Puente Unified School District/CA                                   | HACIENDA LA PUENTE CA UNIF SCH DIST COPS                     | CUSIP: 40450PAW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1358509.10   | 0.41%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rancho Santa Fe Community Services District                                     | RANCHO SANTA FE CALIF CSD FING AUTH REV                      | CUSIP: 75213RBS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1745000 | PA      | $1824313.74   | 0.55%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rialto Redevelopment Agency                                                     | RIALTO CA REDEV AGY SUCCESSORAGY TAX ALLOCATION              | CUSIP: 76246PAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $254032.25    | 0.08%             | 2025-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Victorville CA Electric Revenue                                         | VICTORVILLE CALIF ELEC REV                                   | CUSIP: 92642CAH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $377472.90    | 0.11%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stockton Public Financing Authority                                             | STOCKTON CA PUBLIC FING AUTH WTR REVENUE                     | CUSIP: 861398BP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $408478.59    | 0.12%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lodi Public Financing Authority                                                 | LODI CA PUBLIC FING AUTH ELEC REVENUE                        | CUSIP: 540258AN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1405000 | PA      | $1556572.81   | 0.47%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13033LX51<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007911.00   | 0.30%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Semitropic Improvement District of the Semitropic Water Storage District        | SEMITROPIC CA IMPT DIST SEMITROPIC WTR STORAGE DIST          | CUSIP: 81684KCX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $247996.35    | 0.07%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southwestern Community College District                                         | S WSTRN CA CMNTY CLG DIST                                    | CUSIP: 845389GQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    390000 | PA      | $398167.77    | 0.12%             | 2024-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indio Finance Authority                                                         | INDIO CA PUBLIC FING AUTH                                    | CUSIP: 45571LDG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $426315.38    | 0.13%             | 2031-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                              | SAN JOSE CA ARPT REVENUE                                     | CUSIP: 798136WZ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543227.50    | 0.16%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of San Mateo CA                                                            | SAN MATEO CALIF SPL TAX                                      | CUSIP: 79901PCP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $431279.20    | 0.13%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Temecula Valley Unified School District Financing Authority                     | TEMECULA VLY UNIF SCH DIST FING AUTH CA SPL TAX REVENUE      | CUSIP: 87975BAJ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $303378.90    | 0.09%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                     | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GKX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $560314.00    | 0.17%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445FT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $425493.20    | 0.13%             | 2031-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oakland Unified School District/Alameda County                                  | OAKLAND CA UNIF SCH DIST ALAMEDA CNTY                        | CUSIP: 672325XJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1372953.40   | 0.41%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SYB4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2800000 | PA      | $3178154.00   | 0.96%             | 2038-04-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Rancho Cucamonga Redevelopment Agency Successor Agency                          | RANCHO CUCAMONGA CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION   | CUSIP: 75212CAL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2063266.00   | 0.62%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Riverside Redevelopment Agency Successor Agency                                 | RIVERSIDE CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION          | CUSIP: 76904RAJ6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1735000 | PA      | $1757325.98   | 0.53%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Sacramento CA Airport System Revenue                                  | SACRAMENTO CNTY CA ARPT SYS REVENUE                          | CUSIP: 786107RL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1925000 | PA      | $2045660.93   | 0.62%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Semitropic Improvement District of the Semitropic Water Storage District        | SEMITROPIC CA IMPT DIST SEMITROPIC WTR STORAGE DIST          | CUSIP: 81684KCB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508629.00    | 0.15%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE     | CUSIP: 130536LT0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1957816.00   | 0.59%             | 2038-11-01      | Floating      | 2.50%                 | No            |                  2 | On Loan: No      |
| Apple Valley Public Financing Authority                                         | APPLE VLY CA PUBLIC FING AUTH TAX ALLOCATION REVENUE         | CUSIP: 03787QAD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $489349.84    | 0.15%             | 2028-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Desert Hot Springs Public Financing Authority                                   | DESERT HOT SPRINGS CA PUBLIC FING AUTH LEASE REVENUE         | CUSIP: 25042LCH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    120000 | PA      | $125002.44    | 0.04%             | 2027-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                     | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GKU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    330000 | PA      | $376776.51    | 0.11%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH COPS                             | CUSIP: 130493CD9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    100000 | PA      | $108251.80    | 0.03%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power                                         | LOS ANGELES CA DEPT WTR & PWR REVENUE                        | CUSIP: 544495R22<br>LEI: 549300S8NXV6YU61GG95 | Long             | DBT              | MUN               | US        |    300000 | PA      | $321162.60    | 0.10%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SG57<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2032-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                              | SAN JOSE CA ARPT REVENUE                                     | CUSIP: 798136XA0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $549058.50    | 0.17%             | 2030-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | CUSIP: 13048RAL1<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    750000 | PA      | $755623.50    | 0.23%             | 2041-10-01      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                          | LOS ANGELES CA UNIF SCH DIST                                 | CUSIP: 544646P48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3031590.00   | 0.91%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH COPS                             | CUSIP: 130493CF4<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    200000 | PA      | $218775.40    | 0.07%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Redevelopment Refunding Authority Redev Agency Successor Agy | LOS ANGELES CNTY CA REDEV REFUNDING AUTH TAX ALLOCATION REV  | CUSIP: 54465AEL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1007909.00   | 0.30%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stockton Public Financing Authority                                             | STOCKTON CA PUBLIC FING AUTH WTR REVENUE                     | CUSIP: 861398BS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $817106.32    | 0.25%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chino Basin Regional Financing Authority                                        | CHINO BASIN CA REGL FING AUTH                                | CUSIP: 169498FH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $471452.50    | 0.14%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Richmond County Redevelopment Agency Successor Agency                           | SUCCESSOR AGY TO THE RICHMONDCA CMNTY REDEV AGY              | CUSIP: 86460EBB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $404283.60    | 0.12%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048TV83<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    790000 | PA      | $841346.84    | 0.25%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | CUSIP: 13048RAH0<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2497062.50   | 0.75%             | 2045-10-01      | Floating      | 3.50%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH COPS                             | CUSIP: 130493CA5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    100000 | PA      | $105472.20    | 0.03%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport    | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DTM1<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3317826.00   | 1.00%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Norco CA                                                                | NORCO CA SPL TAX                                             | CUSIP: 655534DW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1049681.00   | 0.32%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of California                                                        | UNIV OF CALIFORNIA CA REVENUES                               | CUSIP: 91412GST3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1259355.00   | 0.38%             | 2048-05-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Riverside CA                                                          | RIVERSIDE CNTY CA                                            | CUSIP: 769110CW5<br>LEI: 254900CB5HEOBAVTY629 | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4033792.00   | 1.21%             | 2023-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indian Wells Redevelopment Agency Successor Agency                              | INDIAN WELLS CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION       | CUSIP: 45454RBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $535604.00    | 0.16%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carson Redevelopment Agency Successor Agency                                    | CARSON CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION             | CUSIP: 14575TAK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $518244.50    | 0.16%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Los Angeles CA                                                        | LOS ANGELES CNTY CA                                          | CUSIP: 544657HZ5<br>LEI: 254900NGUPWO7FB6II89 | Long             | DBT              | MUN               | US        |   8000000 | PA      | $8036480.00   | 2.42%             | 2023-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEV AUTH HOSP REVENUE              | CUSIP: 13081KAL4<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    175000 | PA      | $184990.23    | 0.06%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048TPP2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    125000 | PA      | $126958.00    | 0.04%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                         | BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE                    | CUSIP: 072024UJ9<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   4705000 | PA      | $4700727.86   | 1.41%             | 2047-04-01      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| Rialto Redevelopment Agency                                                     | RIALTO CA REDEV AGY SUCCESSORAGY TAX ALLOCATION              | CUSIP: 76246PAK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $515816.50    | 0.16%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SOL WST DISP REVENUE             | CUSIP: 13048RAJ6<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4500000.00   | 1.35%             | 2041-07-01      | Floating      | 3.88%                 | No            |                  2 | On Loan: No      |
| Rosemead Community Development Commission Successor Agency                      | ROSEMEAD CA CMNTY DEV COMMISSION SUCCESSOR AGY TAX ALLOCATIO | CUSIP: 77753PAK7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    745000 | PA      | $805615.44    | 0.24%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Downey Public Finance Authority                                                 | DOWNEY CA PUBLIC FING AUTH LEASE REVENUE                     | CUSIP: 260890AJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $734771.93    | 0.22%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Mateo Joint Powers Financing Authority                                      | SAN MATEO CNTY CA JT PWRS FING AUTH LEASE REVENUE            | CUSIP: 79904NEA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    585000 | PA      | $590427.05    | 0.18%             | 2023-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SFL3<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    135000 | PA      | $140635.85    | 0.04%             | 2025-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034AMQ0<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    265000 | PA      | $284165.07    | 0.09%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pomona Public Financing Authority                                               | POMONA CA PUBLIC FING AUTH LEASE REVENUE                     | CUSIP: 73208MCL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $455063.85    | 0.14%             | 2024-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of San Mateo CA                                                            | SAN MATEO CALIF SPL TAX                                      | CUSIP: 79901PCR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1260600.10   | 0.38%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Clovis CA Water Revenue                                                 | CLOVIS CA WTR REVENUE                                        | CUSIP: 18934TAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002817.00   | 0.30%             | 2023-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Long Beach Bond Finance Authority                                               | LONG BEACH CA BOND FIN AUTH NATURAL GAS PURCHASE REVENUE     | CUSIP: 54241AAS2<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5133990.00   | 1.54%             | 2024-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Antioch Public Financing Authority                                              | ANTIOCH CA PUBLIC FING AUTH LEASE REVENUE                    | CUSIP: 037082BU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $925359.30    | 0.28%             | 2024-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Manteca Unified School District                                                 | MANTECA CA UNIF SCH DIST SPL TAX                             | CUSIP: 564547LK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505985.50    | 0.15%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento City Schools Joint Powers Financing Authority                        | SACRAMENTO CA CITY SCHS JT PWRS FING AUTH LEASE REVENUE      | CUSIP: 785862AL7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2175000 | PA      | $2226243.00   | 0.67%             | 2025-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Pomona Public Financing Authority                                               | POMONA CA PUBLIC FING AUTH LEASE REVENUE                     | CUSIP: 73208MCN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $283998.28    | 0.09%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of San Joaquin CA                                                        | SAN JOAQUIN CNTY CA COPS                                     | CUSIP: 798085JM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2028-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SFJ8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152337.45    | 0.05%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lammersville Joint Unified School District                                      | LAMMERSVILLE CA JT UNIF SCH DIST SPL TAX                     | CUSIP: 513533GS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1160000 | PA      | $1291607.80   | 0.39%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Semitropic Improvement District of the Semitropic Water Storage District        | SEMITROPIC CA IMPT DIST SEMITROPIC WTR STORAGE DIST          | CUSIP: 81684KCC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $519316.00    | 0.16%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                             | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068LMW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3580000 | PA      | $3709889.56   | 1.12%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEVAUTH STUDENT HSG REVENUE        | CUSIP: 13078RFW5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1513389.00   | 0.46%             | 2024-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Redevelopment Agency Successor Agency                                 | SAN DIEGO CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION          | CUSIP: 79730WAK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1585719.00   | 0.48%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Sacramento County Sanitation Districts Financing Authority                      | SACRAMENTO CNTY CA SANTN DISTS FING AUTH REVENUE             | CUSIP: 786134WV4<br>LEI: 549300MSDPX3EYMUYV38 | Long             | DBT              | MUN               | US        |    575000 | PA      | $692999.78    | 0.21%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UTJ7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    300000 | PA      | $335584.80    | 0.10%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palmdale Community Redevelopment Agency Successor Agency                        | PALMDALE CA CMNTY REDEV AGY SUCCESSOR AGY TAX ALLOCATION     | CUSIP: 69672FAK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $474326.10    | 0.14%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Joaquin Hills Transportation Corridor Agency                                | SAN JOAQUIN HILLS CA TRANSPRTN CORRIDOR AGY TOLL ROAD REV    | CUSIP: 798111GP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $840417.00    | 0.25%             | 2030-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                         | BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE                    | CUSIP: 072024XU1<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3476056.50   | 1.05%             | 2056-04-01      | Floating      | 4.07%                 | No            |                  2 | On Loan: No      |
| City of Chula Vista CA                                                          | CHULA VISTA CA COPS                                          | CUSIP: 171294HJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1764200.50   | 0.53%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulare Public Financing Authority                                               | TULARE CA PUBLIC FING AUTH                                   | CUSIP: 899111CQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $584547.15    | 0.18%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                            | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FCQ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $353868.20    | 0.11%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH COPS                             | CUSIP: 130493CB3<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    100000 | PA      | $106509.60    | 0.03%             | 2028-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE              | CUSIP: 13049YCQ2<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   5005000 | PA      | $5414724.32   | 1.63%             | 2028-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| West Contra Costa Unified School District                                       | W CONTRA COSTA CA UNIF SCH DIST                              | CUSIP: 952347RS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $134218.40    | 0.04%             | 2028-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034AMN7<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    200000 | PA      | $205697.00    | 0.06%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Menlo Park Community Development Agency Successor Agency                        | MENLO PARK CA CMNTY DEV AGY SUCCESSOR AGY TAX ALLOCATION     | CUSIP: 586843AK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1074392.73   | 0.32%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Pollution Control Financing Authority                                | CALIFORNIA ST POLL CONTROL FIN AUTH SOL WST DISP REVENUE     | CUSIP: 130536PR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 0.90%             | 2023-08-01      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| Richmond County Redevelopment Agency Successor Agency                           | SUCCESSOR AGY TO THE RICHMONDCA CMNTY REDEV AGY              | CUSIP: 86460EBC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $462841.20    | 0.14%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Margarita Water District                                                  | SANTA MARGARITA CA WTR DIST SPL TAX                          | CUSIP: 802242FW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $478050.75    | 0.14%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oakland Unified School District/Alameda County                                  | OAKLAND CA UNIF SCH DIST ALAMEDA CNTY                        | CUSIP: 672325XG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $708053.50    | 0.21%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commerce Community Development Commission Successor Agency                      | COMMERCE CA CMNTY DEV COMMISSION SUCCESSOR AGY TAX ALLOCATN  | CUSIP: 20056UAC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1760000 | PA      | $1896320.80   | 0.57%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulare Public Financing Authority                                               | TULARE CA PUBLIC FING AUTH                                   | CUSIP: 899111CR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    505000 | PA      | $536806.92    | 0.16%             | 2028-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Manteca CA Water Revenue                                                | MANTECA CA WTR REVENUE                                       | CUSIP: 564560AL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $650988.65    | 0.20%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of San Joaquin CA                                                        | SAN JOAQUIN CNTY CA COPS                                     | CUSIP: 798085JL1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $330846.90    | 0.10%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048TW33<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1064378.00   | 0.32%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Deutsche Bank Spears/Lifers Trust                                               | DEUTSCHE BANK SPEARS/LIFERS TRUST VARIOUS STATES             | CUSIP: 25155W5W5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3700000 | PA      | $3700000.00   | 1.11%             | 2058-10-01      | Floating      | 4.06%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEVAUTH STUDENT HSG REVENUE        | CUSIP: 13078RFZ8<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513551.00    | 0.15%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Dinuba Unified School District                                                  | DINUBA CA UNIF SCH DIST                                      | CUSIP: 254498DJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $353226.64    | 0.11%             | 2030-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Norman Y Mineta San Jose International Airport SJC                              | SAN JOSE CA ARPT REVENUE                                     | CUSIP: 798136XB8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    545000 | PA      | $600809.64    | 0.18%             | 2031-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEVAUTH STUDENT HSG REVENUE        | CUSIP: 13078RHS2<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2420000 | PA      | $2748643.26   | 0.83%             | 2032-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rosemead Community Development Commission Successor Agency                      | ROSEMEAD CA CMNTY DEV COMMISSION SUCCESSOR AGY TAX ALLOCATIO | CUSIP: 77753PAH4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    620000 | PA      | $642968.52    | 0.19%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chula Vista Municipal Financing Authority                                       | CHULA VISTA CA MUNI FING AUTH LEASE REVENUE                  | CUSIP: 17132EBC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1097478.00   | 0.33%             | 2027-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Downey Public Finance Authority                                                 | DOWNEY CA PUBLIC FING AUTH LEASE REVENUE                     | CUSIP: 260890AH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $479776.50    | 0.14%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Downey Public Finance Authority                                                 | DOWNEY CA PUBLIC FING AUTH LEASE REVENUE                     | CUSIP: 260890AK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $355568.64    | 0.11%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SFK5<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    200000 | PA      | $207714.40    | 0.06%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Victorville CA Electric Revenue                                         | VICTORVILLE CALIF ELEC REV                                   | CUSIP: 92642CAG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    115000 | PA      | $122820.12    | 0.04%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indio Finance Authority                                                         | INDIO CA PUBLIC FING AUTH                                    | CUSIP: 45571LDF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $450232.00    | 0.14%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Clara County Financing Authority                                          | SANTA CLARA CNTY CA FING AUTH                                | CUSIP: 801577KB2<br>LEI: 549300A73O1Q5POHAT69 | Long             | DBT              | MUN               | US        |   6755000 | PA      | $7131422.38   | 2.15%             | 2025-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Semitropic Improvement District of the Semitropic Water Storage District        | SEMITROPIC CA IMPT DIST SEMITROPIC WTR STORAGE DIST          | CUSIP: 81684KCV8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    165000 | PA      | $175099.98    | 0.05%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Peralta Community College District                                              | PERALTA CA CMNTY CLG DIST                                    | CUSIP: 713575YP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1045000 | PA      | $1226122.54   | 0.37%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034AV49<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3282373.25   | 0.99%             | 2047-10-01      | Floating      | 3.00%                 | No            |                  2 | On Loan: No      |
| Lammersville Joint Unified School District                                      | LAMMERSVILLE CA JT UNIF SCH DIST SPL TAX                     | CUSIP: 513533GV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1548539.93   | 0.47%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA STWD CMNTYS DEV AUTH REVENUE                      | CUSIP: 13080SG32<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2030-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Murrieta Valley Unified School District                                         | MURRIETA VLY CA UNIF SCH DIST                                | CUSIP: 626905KK8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1080000 | PA      | $1095324.12   | 0.33%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Palmdale Community Redevelopment Agency Successor Agency                        | PALMDALE CA CMNTY REDEV AGY SUCCESSOR AGY TAX ALLOCATION     | CUSIP: 69672FAL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $591488.70    | 0.18%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                            | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797355X74<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5051935.00   | 1.52%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UMV7<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   2640000 | PA      | $2759412.48   | 0.83%             | 2030-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Milpitas Redevelopment Agency Successor Agency                                  | MILPITAS CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION           | CUSIP: 601649AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2430154.70   | 0.73%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                             | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068LCE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1404481.40   | 0.42%             | 2023-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rosemead Community Development Commission Successor Agency                      | ROSEMEAD CA CMNTY DEV COMMISSION SUCCESSOR AGY TAX ALLOCATIO | CUSIP: 77753PAG6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $456789.15    | 0.14%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chino Basin Regional Financing Authority                                        | CHINO BASIN CA REGL FING AUTH                                | CUSIP: 169498FR8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $383125.01    | 0.12%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Indio Finance Authority                                                         | INDIO CA PUBLIC FING AUTH                                    | CUSIP: 45571LDE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $472877.53    | 0.14%             | 2029-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State Public Works Board                                             | CALIFORNIA ST PUBLIC WKS BRD LEASE REVENUE                   | CUSIP: 13068LMV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3649255.20   | 1.10%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEV AUTH REVENUE                   | CUSIP: 130795W29<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.60%             | 2047-08-15      | Floating      | 2.70%                 | No            |                  2 | On Loan: No      |
| San Jose Financing Authority                                                    | SAN JOSE CA FING AUTH LEASE REVENUE                          | CUSIP: 798153LJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $756390.00    | 0.23%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Moreno Valley Public Financing Authority                                        | MORENO VLY CA PUBLIC FING AUTH                               | CUSIP: 61685PCP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1455000 | PA      | $1513135.98   | 0.46%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Victorville CA Electric Revenue                                         | VICTORVILLE CALIF ELEC REV                                   | CUSIP: 92642CAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    325000 | PA      | $353554.50    | 0.11%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Calipatria Unified School District                                              | CALIPATRIA CA UNIF SCH DIST                                  | CUSIP: 130861BX4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2145000 | PA      | $1906240.05   | 0.57%             | 2025-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| City of San Mateo CA                                                            | SAN MATEO CALIF SPL TAX                                      | CUSIP: 79901PCQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $543899.50    | 0.16%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEV AUTH HOSP REVENUE              | CUSIP: 13081KAE0<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    460000 | PA      | $465978.62    | 0.14%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California State University                                                     | CALIFORNIA ST UNIV REVENUE                                   | CUSIP: 13077C3Z5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1079140.00   | 0.32%             | 2026-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Brentwood Infrastructure Financing Authority                                    | BRENTWOOD CA INFRASTRUCTURE FING AUTH INFRASTRUCTURE REVENUE | CUSIP: 10727XUB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2685000 | PA      | $2717177.04   | 0.82%             | 2023-09-02      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Vallejo City Unified School District                                            | VALLEJO CA CITY UNIF SCH DIST                                | CUSIP: 919261GT8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $530011.08    | 0.16%             | 2032-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Poway Redevelopment Agency Successor Agency                                     | POWAY CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION              | CUSIP: 738798AN7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4665000 | PA      | $4914941.37   | 1.48%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ventura County Public Financing Authority                                       | VENTURA CNTY CA PUBLIC FING AUTH LEASE REVENUE               | CUSIP: 923078BP3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $508938.50    | 0.15%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles Department of Airports                                      | LOS ANGELES CA DEPT OF ARPTS ARPT REVENUE                    | CUSIP: 544445BU2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1153527.10   | 0.35%             | 2030-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Northern California Energy Authority                                            | NRTHRN CA ENERGY AUTH COMMODITY SPLY REVENUE                 | CUSIP: 664840AD7<br>LEI: 5493001ZIJGWU7HYLH34 | Long             | DBT              | MUN               | US        |   7000000 | PA      | $7003675.00   | 2.11%             | 2049-07-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048TV59<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    740000 | PA      | $756720.30    | 0.23%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Elk Grove Finance Authority                                                     | ELK GROVE CA FIN AUTH SPL TAX REVENUE                        | CUSIP: 287254CS3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $784331.25    | 0.24%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                            | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FCT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $389526.38    | 0.12%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stockton Public Financing Authority                                             | STOCKTON CA PUBLIC FING AUTH WTR REVENUE                     | CUSIP: 861398BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $506833.00    | 0.15%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rialto Redevelopment Agency                                                     | RIALTO CA REDEV AGY SUCCESSORAGY TAX ALLOCATION              | CUSIP: 76246PAJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $556520.25    | 0.17%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bay Area Toll Authority                                                         | BAY AREA CA TOLL AUTH TOLL BRIDGE REVENUE                    | CUSIP: 072024UQ3<br>LEI: 5493001FUZGUQMIP5D78 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1482283.50   | 0.45%             | 2053-04-01      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| City of San Mateo CA                                                            | SAN MATEO CALIF SPL TAX                                      | CUSIP: 79901PCM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    265000 | PA      | $279960.31    | 0.08%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulare Public Financing Authority                                               | TULARE CA PUBLIC FING AUTH                                   | CUSIP: 899111CL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    155000 | PA      | $155626.98    | 0.05%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Department of Water & Power Water System Revenue                    | LOS ANGELES CA DEPT OF WTR & PWR WTRWKS REVENUE              | CUSIP: 544525WR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1565000 | PA      | $1729040.17   | 0.52%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                            | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FCP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $501566.00    | 0.15%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Placer Wastewater Authority/CA                                            | S PLACER CA WSTWTR AUTH WSTWTR REVENUE                       | CUSIP: 839423CP3<br>LEI: 549300FGO2EDNXECW829 | Long             | DBT              | MUN               | US        |    500000 | PA      | $586775.50    | 0.18%             | 2030-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Statewide Communities Development Authority                          | CALIFORNIA ST STWD CMNTYS DEVAUTH STUDENT HSG REVENUE        | CUSIP: 13078RGT1<br>LEI: 549300KTNI2GCJNX2U48 | Long             | DBT              | MUN               | US        |    500000 | PA      | $517406.00    | 0.16%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH SENIOR LIVING REVENUE            | CUSIP: 13049RBU9<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    615000 | PA      | $562415.04    | 0.17%             | 2026-11-15      | Fixed         | 2.13%                 | No            |                  2 | On Loan: No      |
| San Diego Unified School District/CA                                            | SAN DIEGO CA UNIF SCH DIST                                   | CUSIP: 797355X82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3064185.00   | 0.92%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colton Redevelopment Agency Successor Agency                                    | COLTON CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION             | CUSIP: 19704CAH5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $935207.38    | 0.28%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Commerce Community Development Commission Successor Agency                      | COMMERCE CA CMNTY DEV COMMISSION SUCCESSOR AGY TAX ALLOCATN  | CUSIP: 20056UAF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1555000 | PA      | $1675430.09   | 0.50%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UQH4<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1653025.50   | 0.50%             | 2030-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles Unified School District/CA                                          | LOS ANGELES CA UNIF SCH DIST                                 | CUSIP: 544646U59<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3100095.00   | 0.93%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ripon Redevelopment Agency Successor Agency                                     | RIPON CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION              | CUSIP: 767491AF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $544032.50    | 0.16%             | 2030-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Riverside County Redevelopment Successor Agency                                 | RIVERSIDE CNTY CA REDEV SUCCESSOR AGY TAX ALLOCATION         | CUSIP: 76913AGS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $795005.25    | 0.24%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Los Angeles County Sanitation Districts Financing Authority                     | LOS ANGELES CNTY CA SANTN DISTS FING AUTH                    | CUSIP: 545149LN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    625000 | PA      | $760650.00    | 0.23%             | 2032-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Community Choice Financing Authority                                 | CALIFORNIA CMNTY CHOICE FING AUTH CLEAN ENERGY PROJ REVENUE  | CUSIP: 13013JAP1<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   5500000 | PA      | $5428467.00   | 1.63%             | 2052-02-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| San Jose Financing Authority                                                    | SAN JOSE CA FING AUTH LEASE REVENUE                          | CUSIP: 798153LH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1008181.00   | 0.30%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indio Finance Authority                                                         | INDIO CA PUBLIC FING AUTH                                    | CUSIP: 45571LDH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $400725.15    | 0.12%             | 2032-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport    | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DGB9<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5344975.00   | 1.61%             | 2026-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Francisco City & County Airport Comm-San Francisco International Airport    | SAN FRANCISCO CALIF CITY &CNTY ARPTS COMMN INTL ARPT REV     | CUSIP: 79766DSM2<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |    500000 | PA      | $538137.50    | 0.16%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Ventura County Public Financing Authority                                       | VENTURA CNTY CA PUBLIC FING AUTH LEASE REVENUE               | CUSIP: 923078BQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1079076.82   | 0.32%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stockton Redevelopment Agency Successor Agency                                  | STOCKTON CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION           | CUSIP: 861403AC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1065576.00   | 0.32%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tulare Public Financing Authority                                               | TULARE CA PUBLIC FING AUTH                                   | CUSIP: 899111CM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $204391.40    | 0.06%             | 2024-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Salinas Valley Solid Waste Authority                                            | SALINAS VLY CA SOL WST AUTH                                  | CUSIP: 795036BR2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1530000 | PA      | $1544378.94   | 0.46%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                          | CALIFORNIA ST MUNI FIN AUTH REVENUE                          | CUSIP: 13048TV42<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    410000 | PA      | $413599.80    | 0.12%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Stockton Public Financing Authority                                             | STOCKTON CA PUBLIC FING AUTH WTR REVENUE                     | CUSIP: 861398BQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    415000 | PA      | $438308.48    | 0.13%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                                | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UYT9<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $2993964.00   | 0.90%             | 2054-08-15      | Floating      | 3.00%                 | No            |                  2 | On Loan: No      |
| Emeryville Redevelopment Agency Successor Agency                                | EMERYVILLE CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION         | CUSIP: 29120RAJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2420000 | PA      | $2448689.10   | 0.74%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Victorville CA Electric Revenue                                         | VICTORVILLE CALIF ELEC REV                                   | CUSIP: 92642CAL8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $330339.60    | 0.10%             | 2032-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Diego County Regional Airport Authority                                     | SAN DIEGO CNTY CA REGL ARPT AUTH AIRPORT REVENUE             | CUSIP: 79739GJY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $553127.00    | 0.17%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Infrastructure & Economic Development Bank                           | CALIFORNIA ST INFRASTRUCTURE & ECON DEV BANK REVENUE         | CUSIP: 13034AMR8<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |    250000 | PA      | $268144.50    | 0.08%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rancho Cucamonga Redevelopment Agency Successor Agency                          | RANCHO CUCAMONGA CA REDEV AGY SUCCESSOR AGY TAX ALLOCATION   | CUSIP: 75212CAK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1011855.00   | 0.30%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2023-01-25

**Name of Applicant:** THORNBURG INVESTMENT TRUST

**Signature:** Christopher Luckham

**Name of Signer:** Christopher Luckham

**Title:** Manager - Fund Admin