# EDGAR Filing Document

**Accession Number:** 0000816153
**File Stem:** 0001752724-23-037748
**Filing Date:** 2023-2
**Character Count:** 75896
**Document Hash:** 27a17708adf39a87da288c4a8b104f58
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037748.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037748

**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:** 23663208

**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 New Mexico Intermediate Municipal Fund (Series ID: S000011843)

| Class ID   | Class Name                                                 | Ticker Symbol   |
|:---|:---|:---|
| C000032352 | Thornburg New Mexico Intermediate Municipal Fund - Class A | THNMX           |
| C000032353 | Thornburg New Mexico Intermediate Municipal Fund - Class D | THNDX           |
| C000042667 | Thornburg New Mexico Intermediate Municipal Fund - Class I | THNIX           |

## Nport-Ex

SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg New Mexico Intermediate Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **ISSUER-DESCRIPTION** | **ISSUER-DESCRIPTION** | **PRINCIPAL<br> AMOUNT** | &nbsp;&nbsp;**VALUE** |
|  | **LONG-TERM MUNICIPAL BONDS — 97.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Albuquerque Bernalillo County Water Utility Authority, 5.00% due 7/1/2023 | &nbsp;&nbsp;$40000 | &nbsp;&nbsp;$40410 |
|  | &nbsp;&nbsp;&nbsp;Albuquerque Bernalillo County Water Utility Authority (2005 NMFA Loan and Joint Water and Sewer System Improvements), Series A, 5.00% due 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2065936 |
|  | &nbsp;&nbsp;&nbsp;Albuquerque Bernalillo County Water Utility Authority (2007 NMFA Loan and Joint Water and Sewer System Improvements), 5.00% due 7/1/2031 - 7/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1584375 |
|  | &nbsp;&nbsp;&nbsp;Albuquerque Municipal School District No. 12 (Bernalillo and Sandoval Counties School Facilities) (State Aid Withholding) GO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 8/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1381317 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series 2017, 5.00% due 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1073837 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 4.00% due 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1308176 |
|  | &nbsp;&nbsp;&nbsp;Albuquerque Municipal School District No. 12 (State Aid Withholding) GO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% due 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 315206 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 8/1/2027 - 8/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 994811 |
|  | &nbsp;&nbsp;&nbsp;Bernalillo County (Government Services) GRT, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.25% due 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 274854 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.70% due 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2555000 | &nbsp;&nbsp;&nbsp;&nbsp; 2741305 |
|  | &nbsp;&nbsp;&nbsp;Bernalillo County (Government Services; Insured: AMBAC) GRT, 5.25% due 10/1/2023 - 10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;5125000 | &nbsp;&nbsp;&nbsp;&nbsp; 5408136 |
|  | &nbsp;&nbsp;&nbsp;Bernalillo County (Government Services; Insured: Natl-Re) GRT, Series B, 5.70% due 4/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 695000 | &nbsp;&nbsp;&nbsp;&nbsp; 745700 |
|  | &nbsp;&nbsp;&nbsp;Bernalillo Municipal School District No. 1 (State Aid Withholding) GO, 4.00% due 8/1/2023 - 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 340000 | &nbsp;&nbsp;&nbsp;&nbsp; 345530 |
|  | &nbsp;&nbsp;&nbsp;Carlsbad Municipal School District (Educational Facilities) (State Aid Withholding) ETM GO, 5.00% due 8/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp; 1667388 |
|  | &nbsp;&nbsp;&nbsp;City of Albuquerque (City Infrastructure Improvements) GO, Series A, 5.00% due 7/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 870000 | &nbsp;&nbsp;&nbsp;&nbsp; 937995 |
|  | &nbsp;&nbsp;&nbsp;City of Albuquerque (City Infrastructure Improvements) GRT, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% due 7/1/2035 | &nbsp;&nbsp;&nbsp;&nbsp;2070000 | &nbsp;&nbsp;&nbsp;&nbsp; 2108937 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 7/1/2025 - 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2634114 |
|  | &nbsp;&nbsp;&nbsp;City of Albuquerque (I-25/Paseo del Norte Interchange) GRT, 5.00% due 7/1/2025 - 7/1/2027 (pre-refunded 7/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1095000 | &nbsp;&nbsp;&nbsp;&nbsp; 1105376 |
|  | &nbsp;&nbsp;&nbsp;City of Albuquerque Refuse Removal & Disposal Revenue, 5.00% due 7/1/2030 - 7/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;1325000 | &nbsp;&nbsp;&nbsp;&nbsp; 1452192 |
|  | &nbsp;&nbsp;&nbsp;City of Albuquerque Transportation Infrastructure GRT, 4.00% due 7/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 833605 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;City of Farmington (Public Service Co. of New Mexico), Series D, 1.10% due 6/1/2040 (put 6/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3455469 |
|  | &nbsp;&nbsp;&nbsp;City of Las Cruces (Joint Utility System), Series A, 4.00% due 6/1/2023 - 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1445000 | &nbsp;&nbsp;&nbsp;&nbsp; 1471371 |
|  | &nbsp;&nbsp;&nbsp;City of Roswell (Joint Water and Sewer Improvement; Insured: BAM), 5.00% due 6/1/2026 - 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 2181616 |
|  | &nbsp;&nbsp;&nbsp;City of Roswell GRT, 4.00% due 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp; 260000 | &nbsp;&nbsp;&nbsp;&nbsp; 273435 |
|  | &nbsp;&nbsp;&nbsp;City of Santa Fe (El Castillo Retirement Residences), 4.50% due 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;3275000 | &nbsp;&nbsp;&nbsp;&nbsp; 3195454 |
|  | &nbsp;&nbsp;&nbsp;City of Santa Fe (Public Facilities) GRT, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 6/1/2028 - 6/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;1880000 | &nbsp;&nbsp;&nbsp;&nbsp; 1938862 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 6/1/2034 - 6/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;1870000 | &nbsp;&nbsp;&nbsp;&nbsp; 2031355 |
|  | &nbsp;&nbsp;&nbsp;City of Santa Fe Gasoline Tax GRT, 5.00% due 6/1/2024 - 6/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;1540000 | &nbsp;&nbsp;&nbsp;&nbsp; 1647985 |
|  | &nbsp;&nbsp;&nbsp;County of San Juan (County Capital Improvements) GRT, Series B, 5.00% due 6/15/2028 - 6/15/2030 | &nbsp;&nbsp;&nbsp;&nbsp;2645000 | &nbsp;&nbsp;&nbsp;&nbsp; 2718080 |
|  | &nbsp;&nbsp;&nbsp;County of Sandoval GO, 5.00% due 8/1/2025 - 8/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;2015000 | &nbsp;&nbsp;&nbsp;&nbsp; 2176652 |
|  | &nbsp;&nbsp;&nbsp;County of Santa Fe (County Buildings & Facilities) GRT, Series A, 5.00% due 6/1/2025 - 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2190000 | &nbsp;&nbsp;&nbsp;&nbsp; 2306719 |
|  | &nbsp;&nbsp;&nbsp;County of Santa Fe (County Correctional System; Insured: AGM), 6.00% due 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 940000 | &nbsp;&nbsp;&nbsp;&nbsp; 998344 |
|  | &nbsp;&nbsp;&nbsp;County of Santa Fe GO, 5.00% due 7/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 852017 |
|  | &nbsp;&nbsp;&nbsp;Guam Waterworks Authority (Water and Wastewater System), 5.00% due 7/1/2035 - 7/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp;2200000 | &nbsp;&nbsp;&nbsp;&nbsp; 2242909 |
|  | &nbsp;&nbsp;&nbsp;Las Cruces School District No. 2 (State Aid Withholding) GO, 5.00% due 8/1/2025 - 8/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp;3800000 | &nbsp;&nbsp;&nbsp;&nbsp; 4115339 |
|  | &nbsp;&nbsp;&nbsp;Lea County Public School District No 8 Eunice (State Aid Withholding) GO, 4.00% due 9/15/2028 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1195052 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Educational Assistance Foundation AMT, Series 1A, 5.00% due 9/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;2750000 | &nbsp;&nbsp;&nbsp;&nbsp; 3058564 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Finance Authority, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 6/1/2038 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1251206 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 6/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp;&nbsp; 566586 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00% due 6/1/2032 - 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp;4125000 | &nbsp;&nbsp;&nbsp;&nbsp; 4649287 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series D, 5.00% due 6/15/2029 - 6/1/2033 | &nbsp;&nbsp;&nbsp;&nbsp; 995000 | &nbsp;&nbsp;&nbsp;&nbsp; 1096745 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Finance Authority (State Highway Infrastructure), Series A, 5.00% due 6/15/2026 - 6/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2415000 | &nbsp;&nbsp;&nbsp;&nbsp; 2489120 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Finance Authority (The Public Project Revolving Fund Program), Series A, 5.00% due 6/15/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1055444 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Hospital Equipment Loan Council (Haverland Carter Lifestyle Obligated Group), Series A, 5.00% due 7/1/2032 - 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp;1310000 | &nbsp;&nbsp;&nbsp;&nbsp; 1231231 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Hospital Equipment Loan Council (Presbyterian Healthcare Services Obligated Group), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 8/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1237183 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 8/1/2031 (pre-refunded 8/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 634211 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 8/1/2036 - 8/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;4395000 | &nbsp;&nbsp;&nbsp;&nbsp; 4655089 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Hospital Equipment Loan Council (San Juan Regional Medical Center, Inc.), 5.00% due 6/1/2030 - 6/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp;1215000 | &nbsp;&nbsp;&nbsp;&nbsp; 1305041 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Institute of Mining and Technology (Campus Buildings Acquisition & Improvements; Insured: AGM), 4.00% due 12/1/2035 - 12/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp;2610000 | &nbsp;&nbsp;&nbsp;&nbsp; 2560293 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Mortgage Finance Authority (Collateralized: GNMA, FNMA, FHLMC), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 2.85% due 7/1/2031 | &nbsp;&nbsp;&nbsp;&nbsp; 370000 | &nbsp;&nbsp;&nbsp;&nbsp; 363179 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series F, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.60% due 7/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 475000 | &nbsp;&nbsp;&nbsp;&nbsp; 446990 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2.85% due 7/1/2039 | &nbsp;&nbsp;&nbsp;&nbsp;1240000 | &nbsp;&nbsp;&nbsp;&nbsp; 1154807 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg New Mexico Intermediate Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
| **ISSUER-DESCRIPTION** | **ISSUER-DESCRIPTION** | **PRINCIPAL<br> AMOUNT** | &nbsp;&nbsp;**VALUE** |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;New Mexico Mortgage Finance Authority (JLG Central 217 LLLP), 0.53% due 11/1/2024 (put 5/1/2024) | &nbsp;&nbsp;$500000 | &nbsp;&nbsp;$483593 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Municipal Energy Acquisition Authority (Guaranty: Royal Bank of Canada), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.00% due 5/1/2024 - 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1746253 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 11/1/2039 (put 5/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1023446 |
|  | &nbsp;&nbsp;&nbsp;Regents of New Mexico State University (Campus Buildings Acquisition & Improvements), Series A, 5.00% due 4/1/2032 - 4/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;5935000 | &nbsp;&nbsp;&nbsp;&nbsp; 6404235 |
|  | &nbsp;&nbsp;&nbsp;Regents of New Mexico State University (Campus Buildings Acquisition & Improvements; Insured: BAM), Series A, 5.00% due 4/1/2030 | &nbsp;&nbsp;&nbsp;&nbsp;1440000 | &nbsp;&nbsp;&nbsp;&nbsp; 1583869 |
|  | &nbsp;&nbsp;&nbsp;Regents of the University of New Mexico (Campus Buildings Acquisition & Improvements), Series A, 4.50% due 6/1/2034 - 6/1/2036 | &nbsp;&nbsp;&nbsp;&nbsp;4500000 | &nbsp;&nbsp;&nbsp;&nbsp; 4657875 |
|  | &nbsp;&nbsp;&nbsp;Rio Rancho Public School District No. 94 (State Aid Withholding) GO, Series A, 5.00% due 8/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1085000 | &nbsp;&nbsp;&nbsp;&nbsp; 1167548 |
|  | &nbsp;&nbsp;&nbsp;Santa Fe Public School District (State Aid Withholding) GO, 5.00% due 8/1/2034 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 393267 |
|  | &nbsp;&nbsp;&nbsp;State of New Mexico GO, 5.00% due 3/1/2029 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2257100 |
|  | &nbsp;&nbsp;&nbsp;State of New Mexico Severance Tax Permanent Fund, 5.00% due 7/1/2028 | &nbsp;&nbsp;&nbsp;&nbsp; 465000 | &nbsp;&nbsp;&nbsp;&nbsp; 519935 |
|  | &nbsp;&nbsp;&nbsp;State of New Mexico Severance Tax Permanent Fund (Educational Facilities), Series A, 5.00% due 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;2040000 | &nbsp;&nbsp;&nbsp;&nbsp; 2153432 |
|  | &nbsp;&nbsp;&nbsp;Town of Silver City (Insured BAM) GRT, 5.00% due 6/1/2037 | &nbsp;&nbsp;&nbsp;&nbsp; 610000 | &nbsp;&nbsp;&nbsp;&nbsp; 658185 |
|  | &nbsp;&nbsp;&nbsp;Village of Los Ranchos de Albuquerque (Albuquerque Academy), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 9/1/2040 | &nbsp;&nbsp;&nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 763638 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 9/1/2029 - 9/1/2032 | &nbsp;&nbsp;&nbsp;&nbsp;1330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1446870 |
|  | &nbsp;&nbsp;&nbsp;TOTAL LONG-TERM MUNICIPAL BONDS — 97.7% (Cost $117,651,507) |  | &nbsp;&nbsp;$114834081 |
|  | **Total Investments — 97.7% (Cost $117,651,507)** |  | &nbsp;&nbsp;$114834081 |
|  | **Other Assets Less Liabilities — 2.3%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2704132 |
|  | **Net Assets — 100.0%** |  | &nbsp;&nbsp;$117538213 |

---

---

| | |
|:---|:---|
| **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. |

---

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

---

| | |
|:---|:---|
| AGM | Insured by Assured Guaranty Municipal Corp. |
| AMBAC | Insured by American Municipal Bond Assurance Corp. |
| AMT | Alternative Minimum Tax |
| BAM | Insured by Build America Mutual Insurance Co. |
| ETM | Escrowed to Maturity |
| FHLMC | Collateralized by Federal Home Loan Mortgage Corp. |

---

---

| | |
|:---|:---|
| FNMA | Collateralized by Federal National Mortgage Association |
| GNMA | Collateralized by Government National Mortgage Association |
| GO | General Obligation |
| GRT | Gross Receipts Tax |
| Natl-Re | Insured by National Public Finance Guarantee Corp. |

---

------

NOTES TO SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg New Mexico Intermediate Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

#### NOTE 1 – ORGANIZATION
Thornburg New Mexico Intermediate 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 three classes of shares of beneficial interest: Class A, Class D, 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 New Mexico Intermediate Municipal Fund

- **b. EDGAR series identifier (if any):** S000011843

- **c. LEI of Series:** 549300M2E5T355DE3R41

**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:** $118013899.10

**Total Liabilities:** $337124.54

**Net Assets:** $117676774.56

**Cash Not Reported:** $1664438.71

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -394.96000000 | **1-Year:** -7276.07000000 | **5-Year:** -18711.82000000 | **10-Year:** -18905.90000000 | **30-Year:** -2375.29000000

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

- **3-Month:** -25.94000000 | **1-Year:** -376.64000000 | **5-Year:** -895.80000000 | **10-Year:** -1845.79000000 | **30-Year:** -202.45000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000042667 | -0.34%               | 2.66%                | 0.48%                |
| Class ID C000032353 | -0.39%               | 2.61%                | 0.43%                |
| Class ID C000032352 | -0.37%               | 2.55%                | 0.45%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $0.00                    | $-606458.69                                |
| Month 2  | $-76962.32               | $2950306.57                                |
| Month 3  | $-273452.58              | $644237.69                                 |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| New Mexico Institute of Mining & Technology                             | NEW MEXICO ST INSTITUTE OF MINING & TECHNOLOGY               | CUSIP: 647157KZ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1400000 | PA      | $1351897.40   | 1.15%             | 2040-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Las Cruces School District No 2                                         | LAS CRUCES NM SCH DIST #2                                    | CUSIP: 517534XQ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1054893.00   | 0.90%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $349062.00    | 0.30%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                       | NEW MEXICO ST MUNI ENERGY ACQUISITION AUTH GAS SPLY          | CUSIP: 647207AZ2<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1496881.50   | 1.27%             | 2024-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No 12                             | ALBUQUERQUE NM MUNI SCH DIST #12                             | CUSIP: 013595WG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $438138.40    | 0.37%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Bernalillo NM Gross Receipts Tax Revenue                      | BERNALILLO CNTY NM GROSS RECPTS TAX REVENUE                  | CUSIP: 08527NGY6<br>LEI: 549300HH7LOB1GPMU667 | Long             | DBT              | MUN               | US        |   1275000 | PA      | $1296879.00   | 1.10%             | 2023-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AJ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    575000 | PA      | $544201.85    | 0.46%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gasoline Tax                                        | SANTA FE NM GASOLINE TAX GROSS RCPTS TAX IMPT REVENUE        | CUSIP: 80208CAF2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $360498.95    | 0.31%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Bernalillo County Water Utility Authority                   | ALBUQUERQUE BERNALILLO CNTY NM WTR UTILITY AUTH JT WTR & SWR | CUSIP: 013493FQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2065936.00   | 1.76%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Los Ranchos de Albuquerque NM                                | LOS RANCHOS DE ALBUQUERQUE NM EDUCTNL FACS REVENUE           | CUSIP: 545610BG1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $763638.15    | 0.65%             | 2040-09-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Gross Receipts Tax Revenue                       | ALBUQUERQUE NM GROSS RECPTS TAX REVENUE                      | CUSIP: 01354PEK6<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |    555000 | PA      | $560258.63    | 0.48%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Las Cruces School District No 2                                         | LAS CRUCES NM SCH DIST #2                                    | CUSIP: 517534XT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $889986.40    | 0.76%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lea County Public School District No 8 Eunice                           | LEA CNTY NM PUBLIC SCH DIST #8 EUNICE                        | CUSIP: 521513DL2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1195052.40   | 1.02%             | 2028-09-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No 12                             | ALBUQUERQUE NM MUNI SCH DIST #12                             | CUSIP: 013595TC7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1300000 | PA      | $1308175.70   | 1.11%             | 2029-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO ST FIN AUTH ST TRANSPRTN REVENUE                  | CUSIP: 64711RKW5<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   1195000 | PA      | $1231826.32   | 1.05%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM                                                  | ALBUQUERQUE NM                                               | CUSIP: 0135185M3<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |    870000 | PA      | $937994.85    | 0.80%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Sandoval NM                                                   | SANDOVAL CNTY NM                                             | CUSIP: 80004PFB3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    235000 | PA      | $261268.07    | 0.22%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of New Mexico/The                                            | UNIV OF NEW MEXICO NM                                        | CUSIP: 9146922A5<br>LEI: 549300WZXG6PIBC7KB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1551675.00   | 1.32%             | 2035-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| University of New Mexico/The                                            | UNIV OF NEW MEXICO NM                                        | CUSIP: 914692Z92<br>LEI: 549300WZXG6PIBC7KB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1564464.00   | 1.33%             | 2034-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370JL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1066217.00   | 0.91%             | 2036-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Sandoval NM                                                   | SANDOVAL CNTY NM                                             | CUSIP: 80004PEY4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    780000 | PA      | $839072.52    | 0.71%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Los Ranchos de Albuquerque NM                                | LOS RANCHOS DE ALBUQUERQUE NM EDUCTNL FACS REVENUE           | CUSIP: 545610BA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $316733.36    | 0.27%             | 2030-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370JN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056667.00   | 0.90%             | 2038-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bernalillo Municipal School District No 1                               | BERNALILLO NM MUNI SCH DIST #1                               | CUSIP: 085279VP9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $61619.94     | 0.05%             | 2025-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Santa Fe NM                                                   | SANTA FE CNTY NM GROSS RECPTS TAX REVENUE                    | CUSIP: 80189RFC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    665000 | PA      | $700599.45    | 0.60%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Las Cruces NM Joint Utility Revenue                             | LAS CRUCES NM JT UTILITY REVENUE                             | CUSIP: 517496DN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $773212.50    | 0.66%             | 2025-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM                                                  | ALBUQUERQUE NM GROSS RECPTS/LODGERS TAX REVENUE              | CUSIP: 01354MGV7<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |    200000 | PA      | $210078.00    | 0.18%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Transportation Infrastructure Gross Receipts Tax | ALBUQUERQUE NM TRANSPRTN INFRASTRUCTURE GROSS RECEIPTS TAX   | CUSIP: 013654AM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    800000 | PA      | $833604.80    | 0.71%             | 2031-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Las Cruces NM Joint Utility Revenue                             | LAS CRUCES NM JT UTILITY REVENUE                             | CUSIP: 517496DL6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    695000 | PA      | $698159.47    | 0.59%             | 2023-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gross Receipts Tax Revenue                          | SANTA FE NM GROSS RECPTS TAX REVENUE                         | CUSIP: 802072RV2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    930000 | PA      | $959109.00    | 0.82%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Los Ranchos de Albuquerque NM                                | LOS RANCHOS DE ALBUQUERQUE NM EDUCTNL FACS REVENUE           | CUSIP: 545610BC0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    490000 | PA      | $532091.49    | 0.45%             | 2032-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Roswell NM                                                      | ROSWELL NM GROSS RECPTS TAX REVENUE                          | CUSIP: 77854PAX7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    260000 | PA      | $273434.98    | 0.23%             | 2029-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Mexico State University                                             | NEW MEXICO ST UNIV                                           | CUSIP: 647429Y45<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1995000 | PA      | $2140427.52   | 1.82%             | 2036-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO ST FIN AUTH REVENUE                               | CUSIP: 64711NW84<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |    300000 | PA      | $328930.50    | 0.28%             | 2029-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Santa Fe NM                                                   | SANTA FE CNTY NM CORRNL SYS REVENUE                          | CUSIP: 80189AAT9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    940000 | PA      | $998343.92    | 0.85%             | 2027-02-01      | Fixed         | 6.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No 12                             | ALBUQUERQUE NM MUNI SCH DIST #12                             | CUSIP: 013595XT5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $556673.00    | 0.47%             | 2035-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                       | NEW MEXICO ST MUNI ENERGY ACQUISITION AUTH GAS SPLY          | CUSIP: 647207BB4<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1023446.00   | 0.87%             | 2039-11-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of San Juan NM                                                   | SAN JUAN CNTY NM GROSS RECPTS TAX REVENUE                    | CUSIP: 79835HHK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1365000 | PA      | $1402736.79   | 1.19%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO FIN AUTH REVENUE                                  | CUSIP: 64711PBX7<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   3265000 | PA      | $3676233.28   | 3.12%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Gross Receipts Tax Revenue                       | ALBUQUERQUE NM GROSS RECPTS TAX REVENUE                      | CUSIP: 01354PEH3<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |    540000 | PA      | $545116.50    | 0.46%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                   | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201FT4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    370000 | PA      | $363178.68    | 0.31%             | 2031-07-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370JM8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    955000 | PA      | $1012360.17   | 0.86%             | 2037-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Carlsbad Municipal School District                                      | CARLSBAD NM MUNI SCH DIST                                    | CUSIP: 142735EM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1667387.70   | 1.42%             | 2023-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Santa Fe NM                                                   | SANTA FE CNTY NM GROSS RECPTS TAX REVENUE                    | CUSIP: 80189RFB6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1316341.25   | 1.12%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Roswell NM Joint Water & Sewer Revenue                          | ROSWELL NM JT WTR & SWR REVENUE                              | CUSIP: 778561KK5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    640000 | PA      | $677178.88    | 0.58%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370KF1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    525000 | PA      | $564269.48    | 0.48%             | 2030-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Bernalillo NM Gross Receipts Tax Revenue                      | BERNALILLO CNTY NM GROSS RECPTS TAX REVENUE                  | CUSIP: 08527NBZ8<br>LEI: 549300HH7LOB1GPMU667 | Long             | DBT              | MUN               | US        |   2555000 | PA      | $2741305.49   | 2.33%             | 2027-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gasoline Tax                                        | SANTA FE NM GASOLINE TAX GROSS RCPTS TAX IMPT REVENUE        | CUSIP: 80208CAH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $322707.60    | 0.27%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370HM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1237182.65   | 1.05%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gasoline Tax                                        | SANTA FE NM GASOLINE TAX GROSS RCPTS TAX IMPT REVENUE        | CUSIP: 80208CAJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $328947.90    | 0.28%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO FIN AUTH REVENUE                                  | CUSIP: 64711PBW9<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |    860000 | PA      | $973053.88    | 0.83%             | 2032-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Institute of Mining & Technology                             | NEW MEXICO ST INSTITUTE OF MINING & TECHNOLOGY               | CUSIP: 647157KW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $582571.14    | 0.50%             | 2035-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                   | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201JF0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1240000 | PA      | $1154807.04   | 0.98%             | 2039-07-01      | Fixed         | 2.85%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370KG9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    690000 | PA      | $740772.27    | 0.63%             | 2031-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Santa Fe NM                                                   | SANTA FE CNTY NM GROSS RECPTS TAX REVENUE                    | CUSIP: 80189RFD2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $289778.50    | 0.25%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico State University                                             | NEW MEXICO ST UNIV                                           | CUSIP: 6474293Z0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1583868.96   | 1.35%             | 2030-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Los Ranchos de Albuquerque NM                                | LOS RANCHOS DE ALBUQUERQUE NM EDUCTNL FACS REVENUE           | CUSIP: 545610AZ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $270677.00    | 0.23%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Mexico                                                     | NEW MEXICO ST                                                | CUSIP: 647293SD2<br>LEI: 549300H4YLM23QKOGK29 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2257100.00   | 1.92%             | 2029-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Las Cruces School District No 2                                         | LAS CRUCES NM SCH DIST #2                                    | CUSIP: 517534XR9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1075762.00   | 0.91%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No 12                             | ALBUQUERQUE NM MUNI SCH DIST #12                             | CUSIP: 013595UX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1073837.00   | 0.91%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                       | NEW MEXICO ST MUNI ENERGY ACQUISITION AUTH GAS SPLY          | CUSIP: 647207AY5<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    250000 | PA      | $249372.25    | 0.21%             | 2024-05-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Refuse Removal & Disposal Revenue                | ALBUQUERQUE NM REFUSE REMOVAL & DISP REVENUE                 | CUSIP: 013630EK0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $501592.74    | 0.43%             | 2038-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of New Mexico/The                                            | UNIV OF NEW MEXICO NM                                        | CUSIP: 9146922B3<br>LEI: 549300WZXG6PIBC7KB43 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1541736.00   | 1.31%             | 2036-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO FIN AUTH REVENUE                                  | CUSIP: 64711PGR5<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |    550000 | PA      | $566586.35    | 0.48%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Gross Receipts Tax Revenue                       | ALBUQUERQUE NM GROSS RECPTS TAX REVENUE                      | CUSIP: 01354PFK5<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1159351.60   | 0.99%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gross Receipts Tax Revenue                          | SANTA FE NM GROSS RECPTS TAX REVENUE                         | CUSIP: 802072RW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    950000 | PA      | $979753.05    | 0.83%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Roswell NM Joint Water & Sewer Revenue                          | ROSWELL NM JT WTR & SWR REVENUE                              | CUSIP: 778561KJ8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    580000 | PA      | $616695.44    | 0.52%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FDD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1218358.80   | 1.04%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gross Receipts Tax Revenue                          | SANTA FE NM GROSS RECPTS TAX REVENUE                         | CUSIP: 802072SP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $271371.50    | 0.23%             | 2036-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Roswell NM Joint Water & Sewer Revenue                          | ROSWELL NM JT WTR & SWR REVENUE                              | CUSIP: 778561JZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    830000 | PA      | $887742.27    | 0.75%             | 2026-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gross Receipts Tax Revenue                          | SANTA FE NM GROSS RECPTS TAX REVENUE                         | CUSIP: 802072SN9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $493067.70    | 0.42%             | 2035-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No 12                             | ALBUQUERQUE NM MUNI SCH DIST #12                             | CUSIP: 013595WL3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $315205.80    | 0.27%             | 2031-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Sandoval NM                                                   | SANDOVAL CNTY NM                                             | CUSIP: 80004PFA5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $250391.48    | 0.21%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Bernalillo County Water Utility Authority                   | ALBUQUERQUE BERNALILLO CNTY NM WTR UTILITY AUTH JT WTR & SWR | CUSIP: 013493GV7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528149.50    | 0.45%             | 2031-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of San Juan NM                                                   | SAN JUAN CNTY NM GROSS RECPTS TAX REVENUE                    | CUSIP: 79835HHH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1280000 | PA      | $1315343.36   | 1.12%             | 2028-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gross Receipts Tax Revenue                          | SANTA FE NM GROSS RECPTS TAX REVENUE                         | CUSIP: 802072SQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $381429.40    | 0.32%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Mexico Severance Tax Permanent Fund                        | NEW MEXICO ST SEVERANCE TAX                                  | CUSIP: 6473102Z3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    465000 | PA      | $519935.10    | 0.44%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Bernalillo County Water Utility Authority                   | ALBUQUERQUE BERNALILLO CNTY NM WTR UTILITY AUTH JT WTR & SWR | CUSIP: 013493KM2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |         0 | PA      | $0.00         | 0.00%             | 2030-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Mexico State University                                             | NEW MEXICO ST UNIV                                           | CUSIP: 647429X87<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $249601.98    | 0.21%             | 2032-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Santa Fe NM                                                   | SANTA FE CNTY NM                                             | CUSIP: 801889PX8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $852017.10    | 0.72%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Institute of Mining & Technology                             | NEW MEXICO ST INSTITUTE OF MINING & TECHNOLOGY               | CUSIP: 647157KX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    630000 | PA      | $625824.99    | 0.53%             | 2036-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Rio Rancho Public School District No 94                                 | RIO RANCHO NM PUBLIC SCH DIST #94                            | CUSIP: 767171PU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1085000 | PA      | $1167547.89   | 0.99%             | 2026-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bernalillo Municipal School District No 1                               | BERNALILLO NM MUNI SCH DIST #1                               | CUSIP: 085279VM6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    160000 | PA      | $160748.48    | 0.14%             | 2023-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Refuse Removal & Disposal Revenue                | ALBUQUERQUE NM REFUSE REMOVAL & DISP REVENUE                 | CUSIP: 013630EJ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    825000 | PA      | $904655.40    | 0.77%             | 2037-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bernalillo Municipal School District No 1                               | BERNALILLO NM MUNI SCH DIST #1                               | CUSIP: 085279VN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $60893.70     | 0.05%             | 2024-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO ST FIN AUTH ST TRANSPRTN REVENUE                  | CUSIP: 64711RKV7<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1257294.18   | 1.07%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Educational Assistance Foundation                            | NEW MEXICO ST EDUCTNL ASSISTANCE FNDTN                       | CUSIP: 647110FT7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2750000 | PA      | $3058563.75   | 2.60%             | 2029-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bernalillo Municipal School District No 1                               | BERNALILLO NM MUNI SCH DIST #1                               | CUSIP: 085279VQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     60000 | PA      | $62268.18     | 0.05%             | 2026-08-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Town of Silver City NM Gross Receipts Tax Revenue                       | SILVER CITY NM GROSS RECPTS TAX REVENUE                      | CUSIP: 82750PBN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    610000 | PA      | $658185.12    | 0.56%             | 2037-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Refuse Removal & Disposal Revenue                | ALBUQUERQUE NM REFUSE REMOVAL & DISP REVENUE                 | CUSIP: 013630EB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $45943.76     | 0.04%             | 2030-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Las Cruces School District No 2                                         | LAS CRUCES NM SCH DIST #2                                    | CUSIP: 517534XS7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1094698.00   | 0.93%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Santa Fe Public School District                                         | SANTA FE NM PUBLIC SCH DIST                                  | CUSIP: 802088QF4<br>LEI: 54930082JUO16DJWGD91 | Long             | DBT              | MUN               | US        |    350000 | PA      | $393267.35    | 0.33%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                   | FARMINGTON NM POLL CONTROL REVENUE                           | CUSIP: 311450FS4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3455469.50   | 2.94%             | 2040-06-01      | Floating      | 1.10%                 | No            |                  2 | On Loan: No      |
| Albuquerque Bernalillo County Water Utility Authority                   | ALBUQUERQUE BERNALILLO CNTY NM WTR UTILITY AUTH JT WTR & SWR | CUSIP: 013493HU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     40000 | PA      | $40409.72     | 0.03%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                   | NEW MEXICO ST MTGE FIN AUTH MF HSG REVENUE                   | CUSIP: 64719HEK2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $483592.50    | 0.41%             | 2024-11-01      | Floating      | 0.53%                 | No            |                  2 | On Loan: No      |
| County of Sandoval NM                                                   | SANDOVAL CNTY NM                                             | CUSIP: 80004PEZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    210000 | PA      | $229910.73    | 0.20%             | 2027-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM Gross Receipts Tax Revenue                       | ALBUQUERQUE NM GROSS RECPTS TAX REVENUE                      | CUSIP: 01354PFL3<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1264683.60   | 1.07%             | 2034-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Bernalillo NM Gross Receipts Tax Revenue                      | BERNALILLO CNTY NM GROSS RECPTS TAX REVENUE                  | CUSIP: 08527NHA7<br>LEI: 549300HH7LOB1GPMU667 | Long             | DBT              | MUN               | US        |   3850000 | PA      | $4111257.15   | 3.49%             | 2025-10-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| County of Bernalillo NM Gross Receipts Tax Revenue                      | BERNALILLO CNTY NM GROSS RECPTS TAX REVENUE                  | CUSIP: 08527NFL5<br>LEI: 549300HH7LOB1GPMU667 | Long             | DBT              | MUN               | US        |    695000 | PA      | $745699.56    | 0.63%             | 2027-04-01      | Fixed         | 5.70%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO ST FIN AUTH REVENUE                               | CUSIP: 64711NXL4<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1055444.00   | 0.90%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM                                                     | SANTA FE NM RETMNT FAC REVENUE                               | CUSIP: 802170AG5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3275000 | PA      | $3195453.53   | 2.72%             | 2027-05-15      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370GU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $634211.40    | 0.54%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL HOSP REVENUE       | CUSIP: 647370JP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1440000 | PA      | $1519845.12   | 1.29%             | 2039-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gasoline Tax                                        | SANTA FE NM GASOLINE TAX GROSS RCPTS TAX IMPT REVENUE        | CUSIP: 80208CAK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    225000 | PA      | $251384.63    | 0.21%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO ST FIN AUTH REVENUE                               | CUSIP: 64711N6V2<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |    695000 | PA      | $767814.46    | 0.65%             | 2033-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gross Receipts Tax Revenue                          | SANTA FE NM GROSS RECPTS TAX REVENUE                         | CUSIP: 802072SR0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    395000 | PA      | $422199.70    | 0.36%             | 2038-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Los Ranchos de Albuquerque NM                                | LOS RANCHOS DE ALBUQUERQUE NM EDUCTNL FACS REVENUE           | CUSIP: 545610BB2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $327368.70    | 0.28%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Bernalillo NM Gross Receipts Tax Revenue                      | BERNALILLO CNTY NM GROSS RECPTS TAX REVENUE                  | CUSIP: 08527NEB8<br>LEI: 549300HH7LOB1GPMU667 | Long             | DBT              | MUN               | US        |    260000 | PA      | $274853.54    | 0.23%             | 2027-04-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Guam Government Waterworks Authority                                    | GUAM GOVT WTRWKS AUTH WTR & WSTWTR SYS REVENUE               | CUSIP: 40065FDB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1024550.00   | 0.87%             | 2035-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Albuquerque Bernalillo County Water Utility Authority                   | ALBUQUERQUE BERNALILLO CNTY NM WTR UTILITY AUTH JT WTR & SWR | CUSIP: 013493GW5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1056225.00   | 0.90%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gasoline Tax                                        | SANTA FE NM GASOLINE TAX GROSS RCPTS TAX IMPT REVENUE        | CUSIP: 80208CAG0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $384445.01    | 0.33%             | 2025-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico State University                                             | NEW MEXICO ST UNIV                                           | CUSIP: 647429Y37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1900000 | PA      | $2051891.70   | 1.74%             | 2035-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Sandoval NM                                                   | SANDOVAL CNTY NM                                             | CUSIP: 80004PEX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    565000 | PA      | $596009.46    | 0.51%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico State University                                             | NEW MEXICO ST UNIV                                           | CUSIP: 647429Y29<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1810000 | PA      | $1962313.31   | 1.67%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Mortgage Finance Authority                                   | NEW MEXICO ST MTGE FIN AUTH                                  | CUSIP: 647201JE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $446990.20    | 0.38%             | 2034-07-01      | Fixed         | 2.60%                 | No            |                  2 | On Loan: No      |
| Albuquerque Municipal School District No 12                             | ALBUQUERQUE NM MUNI SCH DIST #12                             | CUSIP: 013595VW0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1381316.58   | 1.17%             | 2034-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of New Mexico Severance Tax Permanent Fund                        | NEW MEXICO ST SEVERANCE TAX                                  | CUSIP: 647310U82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2040000 | PA      | $2153432.16   | 1.83%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Albuquerque NM                                                  | ALBUQUERQUE NM GROSS RECPTS/LODGERS TAX REVENUE              | CUSIP: 01354MHF1<br>LEI: 549300MV7H0GASZUCG39 | Long             | DBT              | MUN               | US        |   2070000 | PA      | $2108936.70   | 1.79%             | 2035-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Hospital Equipment Loan Council                              | NEW MEXICO ST HOSP EQUIPMENT LOAN COUNCIL 1ST MTGE REVENUE   | CUSIP: 647377AK6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    360000 | PA      | $337967.28    | 0.29%             | 2033-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Santa Fe NM Gross Receipts Tax Revenue                          | SANTA FE NM GROSS RECPTS TAX REVENUE                         | CUSIP: 802072SM1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    420000 | PA      | $463286.04    | 0.39%             | 2034-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Finance Authority                                            | NEW MEXICO FIN AUTH REVENUE                                  | CUSIP: 64711PDB3<br>LEI: 549300L6217Y7X40SP94 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1251205.75   | 1.06%             | 2038-06-01      | 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