# EDGAR Filing Document

**Accession Number:** 0000816153
**File Stem:** 0001752724-23-037751
**Filing Date:** 2023-2
**Character Count:** 135474
**Document Hash:** 3754156ea9e5bf92be1da98ef7c55d25
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-037751.hdr.sgml**: 20230224

**ACCESSION NUMBER**: 0001752724-23-037751

**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:** 23663211

**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 Short Duration Municipal Fund (Series ID: S000043669)

| Class ID   | Class Name                                      | Ticker Symbol   |
|:---|:---|:---|
| C000135383 | Thornburg Short Duration Municipal Fund Class A | TLMAX           |
| C000135384 | Thornburg Short Duration Municipal Fund Class I | TLMIX           |

## Nport-Ex

SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg Short Duration Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
|  | **LONG-TERM MUNICIPAL BONDS — 83.4%** |  |  |
|  | &nbsp;&nbsp;**Alabama — 2.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Black Belt Energy Gas District (Guaranty: Morgan Stanley Group), Series A-1, 4.00% due 12/1/2049 (put 12/1/2025) | &nbsp;&nbsp;$1230000 | &nbsp;&nbsp;$1224011 |
|  | &nbsp;&nbsp;&nbsp;Black Belt Energy Gas District (Guaranty: Royal Bank of Canada), Series D1, 4.00% due 6/1/2023 - 6/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1370000 | &nbsp;&nbsp;&nbsp;&nbsp; 1368261 |
|  | &nbsp;&nbsp;&nbsp;Chatom (Powersouth Energy Co-operative Projects; Insured: AGM) IDB, 5.00% due 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 443617 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Chatom (PowerSouth Energy Cooperative; SPA National Rural Utilities Cooperative Finance) IDB, Series A, 2.375% due 8/1/2037 (put 2/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1199161 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Selma (International Paper Co.) IDB, Series A, 2.00% due 11/1/2033 (put 10/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1444908 |
|  | &nbsp;&nbsp;**Arizona — 1.0%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Arizona (Banner Health Obligated Group) HFA, Series B, 3.91% (MUNIPSA + 0.25%) due 1/1/2046 (put 11/4/2026) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 984545 |
|  | &nbsp;&nbsp;&nbsp;Northern Arizona University, 5.00% due 8/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1115000 | &nbsp;&nbsp;&nbsp;&nbsp; 1127315 |
|  | &nbsp;&nbsp;**California — 4.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;California (PIH Health, Inc. Obligated Group) HFFA, Series A, 5.00% due 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 388693 |
|  | &nbsp;&nbsp;&nbsp;California Municipal Finance Authority (CHF-Davis II LLC; Insured: BAM) (Green Bond), 5.00% due 5/15/2025 - 5/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp;&nbsp; 681521 |
|  | &nbsp;&nbsp;&nbsp;City of Los Angeles, 4.00% due 6/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1505772 |
|  | &nbsp;&nbsp;&nbsp;County of Los Angeles, 4.00% due 6/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2009120 |
|  | &nbsp;&nbsp;&nbsp;County of Riverside, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;5.00% due 6/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1512672 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 3.70% due 10/19/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1750000 | &nbsp;&nbsp;&nbsp;&nbsp; 1757040 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Sacramento Municipal Utility District, Series A, 5.00% due 8/15/2049 (put 10/17/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 603919 |
|  | &nbsp;&nbsp;**Colorado — 2.3%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Colorado (Adventhealth Obligation Group) HFA, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series C, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 11/15/2036 (pre-refunded 11/15/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 265000 | &nbsp;&nbsp;&nbsp;&nbsp; 269345 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 11/15/2036 (put 11/15/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp;&nbsp; 745133 |
|  | &nbsp;&nbsp;&nbsp;Colorado (Northern Colorado Medical Center) HFA ETM, 5.00% due 5/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 565000 | &nbsp;&nbsp;&nbsp;&nbsp; 586820 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;E-470 Public Highway Authority, Series B, 3.231% (SOFR + 0.35%) due 9/1/2039 (put 9/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1983366 |
|  | &nbsp;&nbsp;&nbsp;Interlocken Metropolitan District (Insured: AGM) GO, Series A-1, 5.00% due 12/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 760713 |
|  | &nbsp;&nbsp;&nbsp;Sierra Ridge Metropolitan District No 2 (Insured: AGM) GO, 4.00% due 12/1/2025 - 12/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 575000 | &nbsp;&nbsp;&nbsp;&nbsp; 590359 |
|  | &nbsp;&nbsp;**Connecticut — 0.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;City of New Haven (Insured: AGM) GO, Series B, 5.00% due 2/1/2026 - 2/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1222029 |
|  | &nbsp;&nbsp;**District of Columbia — 1.0%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;District of Columbia Housing Finance Agency (Benning Corridor Titleholder LLC), 4.00% due 9/1/2040 (put 9/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2034408 |
|  | &nbsp;&nbsp;**Florida — 1.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;County of Escambia (International Paper Co.), 2.00% due 11/1/2033 (put 10/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 745929 |
|  | &nbsp;&nbsp;&nbsp;County of Miami-Dade Aviation Revenue, Series A, 5.00% due 10/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1051118 |
|  | &nbsp;&nbsp;&nbsp;Florida Development Finance Corp. (Mater Academy Miami-Dade Osceola County Facilities Obligated Group), Series A, 5.00% due 6/15/2025 - 6/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 792902 |
|  | &nbsp;&nbsp;&nbsp;Orange County (AdventHealth Obligated Group) HFA, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series C, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 11/15/2052 (pre-refunded 11/15/2026) | &nbsp;&nbsp;&nbsp;&nbsp; 55000 | &nbsp;&nbsp;&nbsp;&nbsp; 59793 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5.00% due 11/15/2052 (put 11/15/2026) | &nbsp;&nbsp;&nbsp;&nbsp; 820000 | &nbsp;&nbsp;&nbsp;&nbsp; 871596 |
|  | &nbsp;&nbsp;**Georgia — 3.4%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Development Authority of Burke County (Georigia Power Company), 2.925% due 11/1/2048 (put 3/12/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 495041 |
|  | &nbsp;&nbsp;&nbsp;Main Street Natural Gas, Inc. (Guaranty: Citigroup Global Markets), Series C, 4.00% due 12/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 748355 |
|  | &nbsp;&nbsp;&nbsp;Main Street Natural Gas, Inc. (Guaranty: Royal Bank of Canada), |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 4.00% due 4/1/2048 (put 9/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1700000 | &nbsp;&nbsp;&nbsp;&nbsp; 1699461 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 4.00% due 8/1/2048 (put 12/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1650000 | &nbsp;&nbsp;&nbsp;&nbsp; 1643212 |
|  | &nbsp;&nbsp;&nbsp;Municipal Electric Authority of Georgia, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;4.00% due 11/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 610846 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 1/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 830000 | &nbsp;&nbsp;&nbsp;&nbsp; 841673 |
|  | &nbsp;&nbsp;&nbsp;Private Colleges & Universities Authority (Corp. of Mercer University), 5.00% due 10/1/2023 - 10/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1170000 | &nbsp;&nbsp;&nbsp;&nbsp; 1215155 |
|  | &nbsp;&nbsp;**Illinois — 8.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Chicago O'Hare International Airport, Series D, 5.00% due 1/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 875000 | &nbsp;&nbsp;&nbsp;&nbsp; 875000 |
|  | &nbsp;&nbsp;&nbsp;City of Chicago (Water System), 5.00% due 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1021684 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;City of Chicago Heights (Olympic Village LLC), 2.875% due 8/1/2027 (put 8/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1489244 |
|  | &nbsp;&nbsp;&nbsp;Clinton Bond Fayette Etc Counties Community College District No 501 Kaskaskia (Insured: AGM) GO, 5.00% due 12/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 220000 | &nbsp;&nbsp;&nbsp;&nbsp; 239987 |
|  | &nbsp;&nbsp;&nbsp;Cook County (Capital Improvement Plan) GO, Series A, 5.00% due 11/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1031984 |
|  | &nbsp;&nbsp;&nbsp;Cook County Community College District No. 508 (City Colleges of Chicago) GO, 5.00% due 12/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 505573 |
|  | &nbsp;&nbsp;&nbsp;Cook County Community High School District No 233 Homewood-Flossmoor GO, 4.00% due 12/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1036112 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Illinois (Anchor Senior Living 2021 L.P.) HDA, Series A, 4.00% due 11/1/2042 (put 5/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2015098 |
|  | &nbsp;&nbsp;&nbsp;Illinois Finance Authority (NorthShore University HealthSystem Obligated Group), Series A, 5.00% due 8/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 544218 |
|  | &nbsp;&nbsp;&nbsp;Illinois Finance Authority (Washington & Jane Smith Community-Orland Park), 4.00% due 10/15/2023 - 10/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 420000 | &nbsp;&nbsp;&nbsp;&nbsp; 416413 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Short Duration Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Metropolitan Water Reclamation District of Greater Chicago GO, Series A, 5.00% due 12/1/2025 | &nbsp;&nbsp;$585000 | &nbsp;&nbsp;$619344 |
|  | &nbsp;&nbsp;&nbsp;Southern Illinois University (Insured: BAM), Series A, 5.00% due 4/1/2023 - 4/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1630000 | &nbsp;&nbsp;&nbsp;&nbsp; 1652421 |
|  | &nbsp;&nbsp;&nbsp;State of Illinois (State Facilities Improvements) GO, Series D, 5.00% due 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1018814 |
|  | &nbsp;&nbsp;&nbsp;State of Illinois GO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.00% due 3/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 811081 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00% due 3/1/2025 - 9/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1995000 | &nbsp;&nbsp;&nbsp;&nbsp; 2058015 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 4.00% due 3/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1050000 | &nbsp;&nbsp;&nbsp;&nbsp; 1050368 |
|  | &nbsp;&nbsp;&nbsp;Village of Tinley Park GO, 5.00% due 12/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 870000 | &nbsp;&nbsp;&nbsp;&nbsp; 885807 |
|  | &nbsp;&nbsp;**Indiana — 0.9%** |  |  |
|  | &nbsp;&nbsp;&nbsp;City of Rockport (AEP Generating Co.; Guaranty: American Electric Power Co.), Series A, 3.125% due 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 980345 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Indiana Finance Authority (Republic Services, Inc.), Series B, 2.90% due 5/1/2028 (put 3/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
|  | &nbsp;&nbsp;**Iowa — 1.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;PEFA, Inc. (Guaranty: Goldman Sachs Group, Inc.), 5.00% due 9/1/2049 (put 9/1/2026) | &nbsp;&nbsp;&nbsp;&nbsp;3600000 | &nbsp;&nbsp;&nbsp;&nbsp; 3706823 |
|  | &nbsp;&nbsp;**Kansas — 2.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Chisholm Creek Utility Authority (Insured: AMBAC), 5.25% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1165000 | &nbsp;&nbsp;&nbsp;&nbsp; 1178860 |
|  | &nbsp;&nbsp;&nbsp;Kansas Independent College Finance Authority (Ottawa University), Series C, 5.75% due 5/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3010056 |
|  | &nbsp;&nbsp;&nbsp;Unified Government of Wyandotte County/Kansas City (School Improvement Project; Insured: AGM) USD GO, Series A, 5.00% due 9/1/2031 (pre-refunded 9/1/2027) | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 387408 |
|  | &nbsp;&nbsp;**Kentucky — 0.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;County of Boone (Duke Energy Kentucky, Inc.), Series A, 3.70% due 8/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 986078 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Kentucky Public Energy Authority (Guaranty: Morgan Stanley Group), Series C-1, 4.00% due 12/1/2049 (put 6/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp; 450000 | &nbsp;&nbsp;&nbsp;&nbsp; 445285 |
|  | &nbsp;&nbsp;**Louisiana — 1.5%** |  |  |
|  | &nbsp;&nbsp;&nbsp;City of Shreveport Water & Sewer Revenue (Insured: BAM), Series C, 5.00% due 12/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 860000 | &nbsp;&nbsp;&nbsp;&nbsp; 868837 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Louisiana Offshore Terminal Authority (Loop LLC), 1.65% due 9/1/2027 (put 12/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1471302 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;State of Louisiana Gasoline & Fuels Tax Revenue, Series A, 3.51% (SOFR + 0.50%) due 5/1/2043 (put 5/1/2026) | &nbsp;&nbsp;&nbsp;&nbsp; 990000 | &nbsp;&nbsp;&nbsp;&nbsp; 918387 |
|  | &nbsp;&nbsp;**Maryland — 0.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;County of Washington (Diakon Lutheran Social Ministries Obligated Group) ETM, Series B, 5.00% due 1/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 |
|  | &nbsp;&nbsp;&nbsp;Maryland Health & Higher Educational Facilities Authority (UPMC Obligated Group), Series B, 5.00% due 4/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 510468 |
|  | &nbsp;&nbsp;&nbsp;Maryland Stadium Authority Built to Learn Revenue, Series A, 5.00% due 6/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; 604810 |
|  | &nbsp;&nbsp;**Massachusetts — 1.2%** |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Massachusetts (Mass General Brigham, Inc.) DFA, Series T-1, 4.26% (MUNIPSA + 0.60%) due 7/1/2049 (put 1/29/2026) | &nbsp;&nbsp;&nbsp;&nbsp;2500000 | &nbsp;&nbsp;&nbsp;&nbsp; 2462762 |
|  | &nbsp;&nbsp;**Michigan — 1.1%** |  |  |
| **<sup>a,c</sup>** | &nbsp;&nbsp;&nbsp;Michigan Finance Authority (Bronson Health Care Group Obligated Group), Series B, 5.00% due 11/15/2044 (put 11/16/2026) | &nbsp;&nbsp;&nbsp;&nbsp;1730000 | &nbsp;&nbsp;&nbsp;&nbsp; 1813571 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Michigan State Hospital Finance Authority (Ascension Health Credit Group), Series F-5, 2.40% due 11/15/2047 (put 3/15/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499245 |
|  | &nbsp;&nbsp;**Minnesota — 0.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Minnesota Housing Finance Agency (Residential Single Family Development; Collateralized: GNMA, FNMA, FHLMC), Series H, 4.21% (MUNIPSA + 0.55%) due 7/1/2041 (put 12/12/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 825000 | &nbsp;&nbsp;&nbsp;&nbsp; 822079 |
|  | &nbsp;&nbsp;&nbsp;Minnesota Municipal Gas Agency (Guaranty: Royal Bank of Canada), Series A, 4.00% due 6/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 704291 |
|  | &nbsp;&nbsp;**Nebraska — 1.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Gretna Public Schools GO, Series B, 5.00% due 12/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 530905 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Nebraska Public Power District, Series A, 0.60% due 1/1/2051 (put 7/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1720000 | &nbsp;&nbsp;&nbsp;&nbsp; 1695480 |
|  | &nbsp;&nbsp;**Nevada — 0.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;County of Clark (Nevada Power Co.), 1.65% due 1/1/2036 (put 3/31/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 497811 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Nevada Housing Division (Fairfield Woodcreek LLC), 5.00% due 12/1/2025 (put 12/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1028503 |
|  | &nbsp;&nbsp;**New Jersey — 2.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;City of Newark GO, Series D, 4.00% due 9/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2012778 |
|  | &nbsp;&nbsp;&nbsp;New Jersey (School Facilities Construction) EDA, Series NN, 5.00% due 3/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1002472 |
|  | &nbsp;&nbsp;&nbsp;New Jersey (State of New Jersey Department of the Treasury) EDA, Series BBB, 5.50% due 6/15/2029 (pre-refunded 12/15/2026) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1110051 |
|  | &nbsp;&nbsp;&nbsp;New Jersey Transportation Trust Fund Authority (State Transportation System Improvements), Series A, 5.00% due 6/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 871909 |
|  | &nbsp;&nbsp;&nbsp;Southeast Monmouth Municipal Utilities Authority (Water Revenue Project Notes), 4.00% due 9/29/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 700000 | &nbsp;&nbsp;&nbsp;&nbsp; 702420 |
|  | &nbsp;&nbsp;**New Mexico — 3.6%** |  |  |
|  | &nbsp;&nbsp;&nbsp;City of Farmington (Public Service Co. of New Mexico), |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 0.875% due 6/1/2040 (put 10/1/2026) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 894257 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 1.15% due 6/1/2040 (put 6/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1438809 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;Series E, 1.15% due 6/1/2040 (put 6/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1438809 |
| **<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;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1934370 |
|  | &nbsp;&nbsp;&nbsp;New Mexico Municipal Energy Acquisition Authority (Guaranty: Royal Bank of Canada), Series A, 4.00% due 11/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1150000 | &nbsp;&nbsp;&nbsp;&nbsp; 1147556 |
|  | &nbsp;&nbsp;&nbsp;Santa Fe Public School District (State Aid Withholding) GO, 3.00% due 8/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 898486 |
|  | &nbsp;&nbsp;**New York — 8.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;City of New York GO, Series C, 5.00% due 8/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 775000 | &nbsp;&nbsp;&nbsp;&nbsp; 801052 |
|  | &nbsp;&nbsp;&nbsp;City of Plattsburgh GO, Series B, 4.75% due 11/17/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1680000 | &nbsp;&nbsp;&nbsp;&nbsp; 1694063 |
|  | &nbsp;&nbsp;&nbsp;County of Nassau (Insured: BAM) GO, Series B, 5.00% due 4/1/2034 (pre-refunded 4/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 513795 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Short Duration Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Manchester-Shortsville Central School District (State Aid Withholding) GO, 4.00% due 8/17/2023 | &nbsp;&nbsp;$2200000 | &nbsp;&nbsp;$2206255 |
|  | &nbsp;&nbsp;&nbsp;Metropolitan Transportation Authority, Series A, 5.00% due 11/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2065000 | &nbsp;&nbsp;&nbsp;&nbsp; 2075189 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Nassau County Local Economic Assistance Corp. (Park Lake Hempstead L.P.), 0.30% due 11/1/2024 (put 11/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1957662 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;New York City Housing Development Corp., Series F, 3.40% due 11/1/2062 (put 12/22/2026) | &nbsp;&nbsp;&nbsp;&nbsp;1100000 | &nbsp;&nbsp;&nbsp;&nbsp; 1098381 |
|  | &nbsp;&nbsp;&nbsp;New York State Dormitory Authority (Barnard College), Series A, 4.00% due 7/1/2024 - 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 354059 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;New York State Energy Research & Development Authority (New York State Electric & Gas Corp.), Series C, 2.625% due 4/1/2034 (put 7/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1983540 |
|  | &nbsp;&nbsp;&nbsp;New York State Housing Finance Agency (Green Bond), Series I, 2.70% due 11/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2125000 | &nbsp;&nbsp;&nbsp;&nbsp; 2116219 |
|  | &nbsp;&nbsp;&nbsp;Oneida County Local Development Corp. (Utica College), 5.00% due 7/1/2023 - 7/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 920000 | &nbsp;&nbsp;&nbsp;&nbsp; 930139 |
|  | &nbsp;&nbsp;&nbsp;Town of Oyster Bay (Insured: BAM) GO, 4.00% due 11/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp;&nbsp; 944009 |
|  | &nbsp;&nbsp;&nbsp;Westchester County Local Development Corp. (Miriam Osborn Memorial Home Association Obligated Group), 5.00% due 7/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 427314 |
|  | &nbsp;&nbsp;**North Carolina — 1.1%** |  |  |
|  | &nbsp;&nbsp;&nbsp;North Carolina Medical Care Commission (Vidant Health), 5.00% due 6/1/2029 (pre-refunded 6/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp; 205000 | &nbsp;&nbsp;&nbsp;&nbsp; 215335 |
|  | &nbsp;&nbsp;&nbsp;North Carolina Turnpike Authority, 5.00% due 2/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2036338 |
|  | &nbsp;&nbsp;**North Dakota — 0.9%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;North Dakota Housing Finance Agency, Series B, 3.86% (MUNIPSA + 0.20%) due 1/1/2043 (put 7/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2007666 |
|  | &nbsp;&nbsp;**Ohio — 3.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Akron, Bath and Copley Joint Township Hospital District (Summa Health System Obligated Group), 5.00% due 11/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 735000 | &nbsp;&nbsp;&nbsp;&nbsp; 777797 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;County of Allen Hospital Facilities Revenue (Bon Secours Mercy Health, Inc.), Series B-1, 5.00% due 10/1/2049 (put 8/3/2027) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2156522 |
|  | &nbsp;&nbsp;&nbsp;County of Scioto (Southern Ohio Medical Center), 5.00% due 2/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2020000 | &nbsp;&nbsp;&nbsp;&nbsp; 2022048 |
|  | &nbsp;&nbsp;&nbsp;Union/Clermont County Township GO, 3.00% due 8/30/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1495629 |
|  | &nbsp;&nbsp;**Oklahoma — 0.8%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Muskogee Industrial Trust (Muskogee County ISD No. 20), 5.00% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 200000 | &nbsp;&nbsp;&nbsp;&nbsp; 201347 |
|  | &nbsp;&nbsp;&nbsp;Rogers County Educational Facilities Authority (School District No 2 Catoosa), 5.00% due 9/1/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1596548 |
|  | &nbsp;&nbsp;**Pennsylvania — 3.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Allegheny County Hospital Development Authority (UPMC Obligated Group), Series A, 5.00% due 7/15/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1573561 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Bethlehem Area School District Authority (State Aid Withholding), Series B, 3.231% (SOFR + 0.35%) due 7/1/2031 (put 11/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;1930000 | &nbsp;&nbsp;&nbsp;&nbsp; 1877046 |
|  | &nbsp;&nbsp;&nbsp;Hempfield Area School District (Insured: AGM) (State Aid Withholding) GO, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series B, 5.00% due 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1410000 | &nbsp;&nbsp;&nbsp;&nbsp; 1521788 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 5.00% due 3/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 290000 | &nbsp;&nbsp;&nbsp;&nbsp; 312992 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Pennsylvania (Waste Management Obligated Group; Guaranty: Waste Management, Inc.) EDFA, 0.95% due 12/1/2033 (put 12/1/2026) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 934334 |
|  | &nbsp;&nbsp;&nbsp;Philadelphia Gas Works Co. (Insured: AGM), Series A, 5.00% due 8/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp; 460000 | &nbsp;&nbsp;&nbsp;&nbsp; 482715 |
|  | &nbsp;&nbsp;&nbsp;School District of Philadelphia (State Aid Withholding) GO, Series F, 5.00% due 9/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 620000 | &nbsp;&nbsp;&nbsp;&nbsp; 634882 |
|  | &nbsp;&nbsp;**South Carolina — 0.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Patriots Energy Group Financing Agency (Guaranty: Royal Bank of Canada), Series A, 4.00% due 10/1/2048 (put 2/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1498738 |
|  | &nbsp;&nbsp;**South Dakota — 0.2%** |  |  |
|  | &nbsp;&nbsp;&nbsp;South Dakota Health & Educational Facilities Authority (Monument Health Obligated Group), Series A, 5.00% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 335000 | &nbsp;&nbsp;&nbsp;&nbsp; 338641 |
|  | &nbsp;&nbsp;**Tennessee — 3.0%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Health Educational and Housing Facility Board of the City of Memphis (Memphis Towers TC L.P.), 3.40% due 12/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 997929 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Knox County Health Educational & Housing Facility Board (Gleason Partners L.P.), 3.95% due 12/1/2027 (put 12/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2023062 |
|  | &nbsp;&nbsp;&nbsp;Tennessee Energy Acquisition Corp. (The Gas Project; Guaranty: Goldman Sachs Group, Inc.), |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series A, 5.25% due 9/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2115000 | &nbsp;&nbsp;&nbsp;&nbsp; 2125425 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;Series C, 5.00% due 2/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1310000 | &nbsp;&nbsp;&nbsp;&nbsp; 1310384 |
|  | &nbsp;&nbsp;**Texas — 10.7%** |  |  |
|  | &nbsp;&nbsp;&nbsp;Arlington Higher Education Finance Corp (Riverwalk Education Foundation, Inc.) (Insured: PSF-GTD), 5.00% due 8/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 365000 | &nbsp;&nbsp;&nbsp;&nbsp; 385716 |
|  | &nbsp;&nbsp;&nbsp;Bexar County Hospital District (University Health System) GO, 5.00% due 2/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1250000 | &nbsp;&nbsp;&nbsp;&nbsp; 1252757 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Boerne School District (Insured: PSF-GTD) ISD GO, 2.80% due 12/1/2051 (put 12/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1800000 | &nbsp;&nbsp;&nbsp;&nbsp; 1799361 |
|  | &nbsp;&nbsp;&nbsp;City of Conroe GO, 5.00% due 3/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 105000 | &nbsp;&nbsp;&nbsp;&nbsp; 105324 |
|  | &nbsp;&nbsp;&nbsp;City of Houston Airport System Revenue, Series B, 5.00% due 7/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 150000 | &nbsp;&nbsp;&nbsp;&nbsp; 151390 |
|  | &nbsp;&nbsp;&nbsp;City of Lubbock Electric Light & Power System Revenue, 5.00% due 4/15/2025 - 4/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2050000 | &nbsp;&nbsp;&nbsp;&nbsp; 2188809 |
|  | &nbsp;&nbsp;&nbsp;Clifton Higher Education Finance Corp. (Idea Public Schools) (Insured: PSF-GTD), Series T, 5.00% due 8/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 423889 |
|  | &nbsp;&nbsp;&nbsp;Dallas County Utility & Reclamation District GO, 5.00% due 2/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1058583 |
|  | &nbsp;&nbsp;&nbsp;Dallas Fort Worth International Airport, 5.00% due 11/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1016243 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Denton (Insured: PSF-GTD) ISD GO, Series B, 2.00% due 8/1/2044 (pre-refunded 8/1/2024) | &nbsp;&nbsp;&nbsp;&nbsp; 135000 | &nbsp;&nbsp;&nbsp;&nbsp; 133115 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Fort Bend (Insured: PSF-GTD) ISD GO, Series B, 3.00% due 8/1/2052 (put 8/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000634 |
|  | &nbsp;&nbsp;&nbsp;Harris County Cultural Education Facilities Finance Corp. (Texas Medical Center), Series A, 5.00% due 5/15/2027 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2143686 |
|  | &nbsp;&nbsp;&nbsp;Highland Park (Insured: PSF-GTD) ISD GO, 5.00% due 2/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp;1015000 | &nbsp;&nbsp;&nbsp;&nbsp; 1038888 |
|  | &nbsp;&nbsp;&nbsp;Lower Colorado River Authority (LCRA Transmission Services Corp.), Series A, 5.00% due 5/15/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 769718 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;North East (Insured: PSF-GTD) ISD GO, Series C, 2.05% due 8/1/2046 (put 8/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 995106 |
|  | &nbsp;&nbsp;&nbsp;Port Arthur (Insured: AGM) ISD GO, 5.00% due 2/15/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 250576 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Prosper (Insured: PSF-GTD) ISD GO, Series B, 2.00% due 2/15/2050 (put 8/15/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 746010 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;San Antonio Housing Trust Finance Corp. (Arbors at West Avenue L.P.), 1.45% due 3/1/2026 (put 3/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1941278 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;San Antonio Housing Trust Public Facility Corp. (PV Country Club Village LP), 4.00% due 8/1/2026 (put 8/1/2025) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1025880 |
|  | &nbsp;&nbsp;&nbsp;Texas Municipal Gas Acquisition & Supply Corp. III (Guaranty: Macquarie Group Ltd.), 5.00% due 12/15/2025 - 12/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp;1125000 | &nbsp;&nbsp;&nbsp;&nbsp; 1156693 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Short Duration Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Texas Transportation Commission (Central Texas Turnpike System), Series C, 5.00% due 8/15/2025 | &nbsp;&nbsp;$240000 | &nbsp;&nbsp;$246039 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Travis County Housing Finance Corp. (Austin Gateway Apartments L.P.), 4.125% due 6/1/2045 (put 6/1/2027) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2012424 |
|  | &nbsp;&nbsp;**Virginia — 1.9%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Halifax County IDA, Series A, 1.65% due 12/1/2041 (put 5/31/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1463952 |
|  | &nbsp;&nbsp;&nbsp;Virginia Small Business Financing Authority (National Senior Campuses, Inc. Obligated Group), Series A, 5.00% due 1/1/2023 - 1/1/2025 | &nbsp;&nbsp;&nbsp;&nbsp;1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1215420 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Wise County (Virginia Electric and Power Co.) IDA, Series A, 1.20% due 11/1/2040 (put 5/31/2024) | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1436058 |
|  | &nbsp;&nbsp;**Washington — 0.8%** |  |  |
|  | &nbsp;&nbsp;&nbsp;King County Housing Authority, 2.00% due 6/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 790000 | &nbsp;&nbsp;&nbsp;&nbsp; 785015 |
|  | &nbsp;&nbsp;&nbsp;State of Washington GO, Series 2021A, 5.00% due 6/1/2024 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 515716 |
|  | &nbsp;&nbsp;&nbsp;University of Washington, 5.00% due 4/1/2023 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 301400 |
|  | &nbsp;&nbsp;**Wisconsin — 5.4%** |  |  |
|  | &nbsp;&nbsp;&nbsp;County of Waushara GO, Series A, 4.50% due 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp;1260000 | &nbsp;&nbsp;&nbsp;&nbsp; 1303576 |
|  | &nbsp;&nbsp;&nbsp;Eau Claire Area School District, 4.00% due 6/21/2023 | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2008930 |
|  | &nbsp;&nbsp;&nbsp;Jefferson School District, 4.00% due 6/28/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1001658 |
|  | &nbsp;&nbsp;&nbsp;Peshtigo School District, 4.00% due 6/22/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1502799 |
|  | &nbsp;&nbsp;&nbsp;Public Finance Authority, 4.00% due 1/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 870000 | &nbsp;&nbsp;&nbsp;&nbsp; 869415 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Public Finance Authority (Duke Energy Progress LLC), Series A-1, 3.30% due 10/1/2046 (put 10/1/2026) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2028492 |
|  | &nbsp;&nbsp;&nbsp;Public Finance Authority (Renown Regional Medical Center), Series A, 5.00% due 6/1/2027 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 375649 |
| **<sup>d</sup>** | &nbsp;&nbsp;&nbsp;Pulaski Community School District, 4.00% due 7/12/2023 | &nbsp;&nbsp;&nbsp;&nbsp;1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1503171 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Wisconsin Housing & EDA, Series B, 0.40% due 5/1/2045 (put 11/1/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 977121 |
|  | &nbsp;&nbsp;&nbsp;Total Long-Term Municipal Bonds — 83.4% (Cost $179,452,659) |  | &nbsp;&nbsp;&nbsp;&nbsp;177737090 |
|  | **Short-Term Municipal Bonds — 15.8%** |  |  |
|  | &nbsp;&nbsp;**Alabama — 1.5%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Columbia (Alabama Power Co.) IDB, Series B, 3.75% due 12/1/2037 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3100000 | &nbsp;&nbsp;&nbsp;&nbsp; 3100000 |
|  | &nbsp;&nbsp;**Connecticut — 0.5%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Connecticut State Health & Educational Facilities Authority (Yale University), Series V-2, 2.95% due 7/1/2036 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
|  | &nbsp;&nbsp;**Florida — 1.4%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;City of Gainesville Utilities System Revenue (SPA Barclays Bank plc), Series B, 3.65% due 10/1/2042 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp;**Illinois — 0.7%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Phoenix Realty Special Account-U (LOC Northern Trust Company), 3.98% due 4/1/2025 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1575000 | &nbsp;&nbsp;&nbsp;&nbsp; 1575000 |
|  | &nbsp;&nbsp;**Kentucky — 1.4%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Louisville/Jefferson County Metropolitan Government (Louisville Gas and Electric Co.), 3.60% due 6/1/2033 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp;**Louisiana — 1.4%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Parish of St. James (Nucor Steel Louisiana LLC; Guaranty: Nucor Corp.), Series B-1, 4.10% due 11/1/2040 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 |
|  | &nbsp;&nbsp;**Mississippi — 0.2%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Mississippi Business Finance Corp. (Chevron USA, Inc.; Guaranty: Chevron Corp.), Series I, 3.55% due 11/1/2035 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 |
|  | &nbsp;&nbsp;**Nevada — 0.6%** |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts/Certificates (Guaranty: Deutsche Bank A.G.), Series 2021-XF1120, 3.96% due 11/1/2061 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1330000 | &nbsp;&nbsp;&nbsp;&nbsp; 1330000 |
|  | &nbsp;&nbsp;**New York — 1.6%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;City of New York (SPA JP Morgan Chase Bank N.A.) GO, Series 1, 3.65% due 3/1/2040 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;New York City Municipal Water Finance Authority (New York City Water & Sewer System; SPA JP Morgan Chase Bank N.A.), Series AA-1, 3.65% due 6/15/2050 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;New York State Housing Finance Agency (LOC Landesbank Hessen-Thuringen), Series A, 3.53% due 11/1/2046 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 |
|  | &nbsp;&nbsp;**North Carolina — 0.4%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Charlotte-Mecklenburg Hospital Authority (Atrium Health Obligated Group; SPA JP Morgan Chase Bank N.A.), Series H, 3.60% due 1/15/2048 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp;&nbsp; 900000 |
|  | &nbsp;&nbsp;**Ohio — 1.6%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;State of Ohio (Cleveland Clinic Health System Obligated Group; SPA U.S. Bank N.A.), Series F, 3.60% due 1/1/2052 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3400000 | &nbsp;&nbsp;&nbsp;&nbsp; 3400000 |
|  | &nbsp;&nbsp;**Oregon — 0.8%** |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts/Certificates (Guaranty: Deutsche Bank A.G.), Series 2021-XF1123, 3.65% due 10/1/2061 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;1670000 | &nbsp;&nbsp;&nbsp;&nbsp; 1670000 |
|  | &nbsp;&nbsp;**Texas — 2.6%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;San Antonio Education Facilities Corp. (Trinity University), 3.73% due 6/1/2033 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3500000 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Tender Option Bond Trust Receipts/Certificates (LOC Deutsche Bank A.G.), Series 2021-XF1102, 3.72% due 7/1/2061 (put 1/9/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 |
|  | &nbsp;&nbsp;**Virginia — 1.1%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Virginia College Building Authority (University of Richmond; SPA U.S. Bank N.A.), 3.63% due 11/1/2036 (put 1/3/2023) | &nbsp;&nbsp;&nbsp;&nbsp;2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2300000 |
|  | &nbsp;&nbsp;&nbsp;Total Short-Term Municipal Bonds — 15.8% (Cost $33,775,000) |  | &nbsp;&nbsp;&nbsp;&nbsp; 33775000 |
|  | **Total Investments — 99.2% (Cost $213,227,659)** |  | &nbsp;&nbsp;$211512090 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Short Duration Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

---

| | | |
|:---|:---|:---|
| **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
| **Other Assets Less Liabilities — 0.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1684492 |
| **Net Assets — 100.0%** |  | &nbsp;&nbsp;$213196582 |

---

---

| | |
|:---|:---|
| **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 | 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 $7,462,762, representing 3.50% of the Fund's net assets. |
| c | Segregated as collateral for a when-issued security. |
| d | When-issued security. |

---

#### 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. |
| BAM | Insured by Build America Mutual Insurance Co. |
| DFA | Development Finance Authority/Agency |
| EDA | Economic Development Authority |
| EDFA | Economic Development Financing Authority |
| 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 |
| HDA | Housing Development Authority |

---

---

| | |
|:---|:---|
| HFA | Health Facilities Authority |
| HFFA | Health Facilities Financing Authority |
| IDA | Industrial Development Authority/Agency |
| IDB | Industrial Development Board |
| ISD | Independent School District |
| LOC | Letter of Credit |
| MUNIPSA | Securities Industry and Financial Markets Association (SIFMA) Municipal Swap Index |
| PSF-GTD | Guaranteed by Permanent School Fund |
| SOFR | Secured Overnight Financing Rate |
| SPA | Stand-by Purchase Agreement |
| USD | Unified School District |

---

------

NOTES TO SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg Short Duration Municipal Fund** | *December 31, 2022 (Unaudited)* |

---

------

#### NOTE 1 – ORGANIZATION
Thornburg Short Duration 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 two classes of shares of beneficial interest: Class A 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 Short Duration Municipal Fund

- **b. EDGAR series identifier (if any):** S000043669

- **c. LEI of Series:** 549300420UUQ3HF48O75

**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:** $214956841.49

**Total Liabilities:** $1995152.62

**Net Assets:** $212961688.87

**Delayed Delivery Securities:** $1503150.00

**Cash Not Reported:** $570260.61

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -1014.80000000 | **1-Year:** -13584.20000000 | **5-Year:** -12693.20000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

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

- **3-Month:** -811.70000000 | **1-Year:** -1863.38000000 | **5-Year:** -1447.55000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000135383 | 0.06%                | 1.16%                | 0.08%                |
| Class ID C000135384 | 0.08%                | 1.26%                | 0.02%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-201542.30              | $29287.63                                  |
| Month 2  | $0.00                    | $1920729.02                                |
| Month 3  | $3.48                    | $-235124.11                                |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Illinois Finance Authority                                                    | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FPJ8<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    205000 | PA      | $203817.97    | 0.10%             | 2023-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas County Utility & Reclamation District                                  | DALLAS CNTY TX UTILITY & RECLAMATION DIST                    | CUSIP: 234839PJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1058583.00   | 0.50%             | 2026-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp                                             | TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE             | CUSIP: 880443BQ8<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2125424.84   | 1.00%             | 2023-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| City of New Haven CT                                                          | NEW HAVEN CT                                                 | CUSIP: 6450208A9<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |    600000 | PA      | $642002.40    | 0.30%             | 2027-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Allen OH Hospital Facilities Revenue                                | ALLEN CNTY OH HOSP FACS REVENUE                              | CUSIP: 01757LGZ3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2156522.00   | 1.01%             | 2049-10-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                     | PRIV CLGS & UNIVS AUTH GA                                    | CUSIP: 74265LW20<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $385917.00    | 0.18%             | 2024-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Clifton Higher Education Finance Corp                                         | CLIFTON TX HGR EDU FIN CORP EDU REVENUE                      | CUSIP: 187145PN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $423889.20    | 0.20%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Health Facilities Financing Authority                              | CALIFORNIA ST HLTH FACS FING AUTH REVENUE                    | CUSIP: 13032UVY1<br>LEI: 5493007RI8BUDOGHZ546 | Long             | DBT              | MUN               | US        |    365000 | PA      | $388692.88    | 0.18%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| District of Columbia Housing Finance Agency                                   | DIST OF COLUMBIA HSG FIN AGY MF HSG REVENUE                  | CUSIP: 25477PPQ2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2034408.00   | 0.96%             | 2040-09-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE               | CUSIP: 09182NBU3<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    250000 | PA      | $249395.25    | 0.12%             | 2024-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Southern Illinois University                                                  | STHRN ILLINOIS ST UNIV                                       | CUSIP: 8431465H0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    475000 | PA      | $479537.68    | 0.23%             | 2024-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                     | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 64577BTP9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1110051.00   | 0.52%             | 2029-06-15      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Tennessee Energy Acquisition Corp                                             | TENNESSEE ST ENERGY ACQUISITION CORP GAS REVENUE             | CUSIP: 880443EB8<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1310383.83   | 0.62%             | 2023-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                              | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UJX7<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    285000 | PA      | $296090.49    | 0.14%             | 2027-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lubbock TX Electric Light & Power System Revenue                      | LUBBOCK TX ELEC LIGHT & PWR SYS                              | CUSIP: 549203WW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    650000 | PA      | $706832.75    | 0.33%             | 2027-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Medical Care Commission                                        | NORTH CAROLINA ST MED CARE COMMISSION HLTH CARE FACS REVENUE | CUSIP: 65821DSF9<br>LEI: 549300FH6KOXGCHQYG81 | Long             | DBT              | MUN               | US        |    205000 | PA      | $215334.67    | 0.10%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Port Arthur Independent School District                                       | PORT ARTHUR TX INDEP SCH DIST                                | CUSIP: 733505VE8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    250000 | PA      | $250576.25    | 0.12%             | 2023-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Fort Bend Independent School District                                         | FORT BEND TX INDEP SCH DIST                                  | CUSIP: 346843UW3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000634.00   | 0.94%             | 2052-08-01      | Floating      | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Los Angeles CA                                                        | LOS ANGELES CA                                               | CUSIP: 544351QM4<br>LEI: 549300E7TO710PTXPJ65 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1505772.00   | 0.71%             | 2023-06-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| City of Rockport IN                                                           | ROCKPORT IN POLL CONTROL REVENUE                             | CUSIP: 773835BW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $980345.00    | 0.46%             | 2025-07-01      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| New Jersey Transportation Trust Fund Authority                                | NEW JERSEY ST TRANSPRTN TRUST FUND AUTH                      | CUSIP: 6461363E9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |    850000 | PA      | $871909.60    | 0.41%             | 2024-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Township of Union OH/Clermont County                                          | UNION TWP OH CLERMONT CNTY                                   | CUSIP: 908734AL0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1495629.00   | 0.70%             | 2023-08-30      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| County of Riverside CA                                                        | RIVERSIDE CNTY CA TEETER OBLIG                               | CUSIP: 76914CAA6<br>LEI: 254900CB5HEOBAVTY629 | Long             | DBT              | MUN               | US        |   1750000 | PA      | $1757040.25   | 0.83%             | 2023-10-19      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Parish of St James LA                                                         | SAINT JAMES PARISH LA REVENUE                                | CUSIP: 790103AH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.41%             | 2040-11-01      | Floating      | 4.10%                 | No            |                  2 | On Loan: No      |
| Health Educational and Housing Facility Board of the City of Memphis/the      | MEMPHIS TN HLTH EDUCTNL & HSG FAC BRD MF HSG REVENUE         | CUSIP: 586169FS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $997929.00    | 0.47%             | 2023-12-01      | Variable      | 3.40%                 | No            |                  2 | On Loan: No      |
| Harris County Cultural Education Facilities Finance Corp                      | HARRIS CNTY TX CULTURAL EDU FACS FIN CORP REVENUE            | CUSIP: 414009NF3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2143686.00   | 1.01%             | 2027-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Phoenix Realty Special Account-U LP                                           | PHOENIX REALTY IL SPL ACCOUNT-U LP MF REVENUE                | CUSIP: 71912TAB0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1575000 | PA      | $1575000.00   | 0.74%             | 2025-04-01      | Floating      | 3.98%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                | TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | CUSIP: 88034YKP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1330000 | PA      | $1330000.00   | 0.62%             | 2061-11-01      | Floating      | 3.96%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                    | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FPK5<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    215000 | PA      | $212594.80    | 0.10%             | 2024-10-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Patriots Energy Group Financing Agency                                        | PATRIOTS ENERGY GROUP FING AGY SC GAS SPLY REVENUE           | CUSIP: 70342PAK0<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1498738.50   | 0.70%             | 2048-10-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Selma Industrial Development Board                                            | SELMA AL INDL DEV BRD REVENUE                                | CUSIP: 81647PAE3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1444908.00   | 0.68%             | 2033-11-01      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| Pennsylvania Economic Development Financing Authority                         | PENNSYLVANIA ST ECON DEV FING AUTH SOLID WASTE DISPOSAL REV  | CUSIP: 708692BC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $934334.00    | 0.44%             | 2033-12-01      | Floating      | 0.95%                 | No            |                  2 | On Loan: No      |
| Jefferson School District/WI                                                  | JEFFERSON WI SCH DIST                                        | CUSIP: 475512HG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1001658.00   | 0.47%             | 2023-06-28      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Energy Research & Development Authority                        | NEW YORK ST ENERGY RESEARCH & DEV AUTH POLL CONTROL REVENUE  | CUSIP: 649845HH0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1983540.00   | 0.93%             | 2034-04-01      | Floating      | 2.63%                 | No            |                  2 | On Loan: No      |
| Chicago O'Hare International Airport                                          | CHICAGO IL O'HARE INTERNATIONAL ARPT REVENUE                 | CUSIP: 1675932M3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    875000 | PA      | $875000.00    | 0.41%             | 2023-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Shreveport LA Water & Sewer Revenue                                   | SHREVEPORT LA WTR & SWR REVENUE                              | CUSIP: 825485WD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    860000 | PA      | $868836.50    | 0.41%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                              | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UJV1<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    215000 | PA      | $218982.45    | 0.10%             | 2025-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                | TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | CUSIP: 88034YRY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1670000 | PA      | $1670000.00   | 0.78%             | 2061-10-01      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| North East Independent School District/TX                                     | NORTH EAST TX INDEP SCH DIST                                 | CUSIP: 659155QJ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $995106.00    | 0.47%             | 2046-08-01      | Floating      | 2.05%                 | No            |                  2 | On Loan: No      |
| Wisconsin Housing & Economic Development Authority Housing Revenue            | WISCONSIN ST HSG & ECON DEV AUTH HSG REVENUE                 | CUSIP: 976904Y22<br>LEI: 549300AT0SEG8YQT2K79 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $977121.00    | 0.46%             | 2045-05-01      | Floating      | 0.40%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                          | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FWZ3<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    265000 | PA      | $269345.47    | 0.13%             | 2036-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Sierra Ridge Metropolitan District No 2                                       | SIERRA RIDGE MET DIST #2 CO                                  | CUSIP: 82648CAH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $309067.20    | 0.15%             | 2026-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                   | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104MK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $511341.00    | 0.24%             | 2025-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Gretna Public Schools                                                         | SARPY CNTY NE SCH DIST #37                                   | CUSIP: 803770XB7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $530905.50    | 0.25%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Kansas Independent College Finance Authority                                  | KANSAS INDEP CLG FIN AUTH                                    | CUSIP: 485435ER8<br>LEI: 5493006W4J5J9MZ52C15 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3010056.00   | 1.41%             | 2023-05-01      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| Central Texas Turnpike System                                                 | TEXAS ST TRANSPRTN COMMISSION CENTRAL TX TURNPIKE SYS REVENU | CUSIP: 88283KBC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    240000 | PA      | $246038.88    | 0.12%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Indiana Finance Authority                                                     | INDIANA ST FIN AUTH ECON DEV REVENUE                         | CUSIP: 45505RBP9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.47%             | 2028-05-01      | Floating      | 2.90%                 | No            |                  2 | On Loan: No      |
| Illinois Housing Development Authority                                        | ILLINOIS ST HSG DEV AUTH MF HSG REVENUE                      | CUSIP: 45203LDV2<br>LEI: 54930053Z6M9JVHBQZ16 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2015098.00   | 0.95%             | 2042-11-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Akron Bath Copley Joint Township Hospital District                            | AKRON BATH COPLEY JT TWP OH HOSP DIST                        | CUSIP: 009730PJ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    735000 | PA      | $777796.85    | 0.37%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Municipal Gas Agency                                                | MINNESOTA MUNI GAS AGY COMMODITY SPLY REVENUE                | CUSIP: 60406UAF4<br>LEI: 549300SISI6N1C6S3136 | Long             | DBT              | MUN               | US        |    700000 | PA      | $704291.00    | 0.33%             | 2025-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Muskogee Industrial Trust                                                     | MUSKOGEE OK INDL TRUST EDUCTNL FACS LEASE REVENUE            | CUSIP: 62813NAT3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    200000 | PA      | $201347.40    | 0.09%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                             | ILLINOIS ST                                                  | CUSIP: 4521524T5<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    495000 | PA      | $510995.43    | 0.24%             | 2027-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Clark NV                                                            | CLARK CNTY NV POLL CONTROL REVENUE                           | CUSIP: 181008BC6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $497811.00    | 0.23%             | 2036-01-01      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| Philadelphia Gas Works Co                                                     | PHILADELPHIA PA GAS WKS REVENUE                              | CUSIP: 71783MBG9<br>LEI: 549300H8UJ7V5WU5IA90 | Long             | DBT              | MUN               | US        |    460000 | PA      | $482714.80    | 0.23%             | 2025-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                          | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648FXA7<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    735000 | PA      | $745132.71    | 0.35%             | 2036-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago IL Waterworks Revenue                                         | CHICAGO IL WTRWKS REVENUE                                    | CUSIP: 167736F44<br>LEI: T5UYO5SYLC8K73MJQX30 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1021684.00   | 0.48%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Gainesville FL Utilities System Revenue                               | GAINESVILLE FL UTILITIES SYS REVENUE                         | CUSIP: 362848RR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.41%             | 2042-10-01      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| Chatom Industrial Development Board                                           | CHATOM AL INDL DEV BRD REVENUE                               | CUSIP: 162296AC1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1199161.20   | 0.56%             | 2037-08-01      | Floating      | 2.38%                 | No            |                  2 | On Loan: No      |
| County of Waushara WI                                                         | WAUSHARA CNTY WI                                             | CUSIP: 943445CH7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1260000 | PA      | $1303575.84   | 0.61%             | 2027-06-01      | Fixed         | 4.50%                 | No            |                  2 | On Loan: No      |
| Metropolitan Water Reclamation District of Greater Chicago                    | CHICAGO IL MET WTR RECLAMATION DIST GREATER CHICAGO          | CUSIP: 167560SU6<br>LEI: 254900GOGQEZEWCZ4D37 | Long             | DBT              | MUN               | US        |    585000 | PA      | $619344.18    | 0.29%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                           | NEW YORK NY                                                  | CUSIP: 64966LLS8<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.47%             | 2040-03-01      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                             | ILLINOIS ST                                                  | CUSIP: 452153CK3<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    800000 | PA      | $811080.80    | 0.38%             | 2024-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Cook IL                                                             | COOK CNTY IL                                                 | CUSIP: 213185LR0<br>LEI: 5493004UMR7OX4YITE10 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1031984.00   | 0.48%             | 2024-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE               | CUSIP: 09182NBS8<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    250000 | PA      | $249696.00    | 0.12%             | 2023-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York City Housing Development Corp                                        | NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE                 | CUSIP: 64972E3D9<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1100000 | PA      | $1098380.80   | 0.52%             | 2062-11-01      | Floating      | 3.40%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                         | FARMINGTON NM POLL CONTROL REVENUE                           | CUSIP: 311450FX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $894257.00    | 0.42%             | 2040-06-01      | Floating      | 0.88%                 | No            |                  2 | On Loan: No      |
| City of New York NY                                                           | NEW YORK NY                                                  | CUSIP: 64966MSS9<br>LEI: 549300ABYZD2SFD5JB29 | Long             | DBT              | MUN               | US        |    775000 | PA      | $801051.63    | 0.38%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Travis County Housing Finance Corp                                            | TRAVIS CNTY TX HSG FIN CORP MF HSG REVENUE                   | CUSIP: 89438UBM9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012424.00   | 0.94%             | 2045-06-01      | Floating      | 4.13%                 | No            |                  2 | On Loan: No      |
| Maryland Health & Higher Educational Facilities Authority                     | MARYLAND ST HLTH & HGR EDUCTNL FACS AUTH REVENUE             | CUSIP: 5742186T5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $510468.00    | 0.24%             | 2024-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| South Dakota Health & Educational Facilities Authority                        | SOUTH DAKOTA ST HLTH & EDUCTNL FACS AUTH                     | CUSIP: 83755VL93<br>LEI: 549300ZW6LKR8UI2C378 | Long             | DBT              | MUN               | US        |    335000 | PA      | $338640.78    | 0.16%             | 2023-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Hempfield Area School District                                                | HEMPFIELD PA AREA SCH DIST WESTMORELAND CNTY                 | CUSIP: 423725PU8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $312991.78    | 0.15%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Housing Trust Public Facility Corp                                | SAN ANTONIO TX HSG TRUST PUBLIC FAC CORP MF HSG REVENUE      | CUSIP: 79626VAA7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1025880.00   | 0.48%             | 2026-08-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| PEFA Inc                                                                      | PEFA INC IA GAS PROJ REVENUE                                 | CUSIP: 70556CAB0<br>LEI: 549300RSE249DJNRHY07 | Long             | DBT              | MUN               | US        |   3600000 | PA      | $3706822.80   | 1.74%             | 2049-09-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                     | PRIV CLGS & UNIVS AUTH GA                                    | CUSIP: 74265LV96<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $303542.40    | 0.14%             | 2023-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                         | FARMINGTON NM POLL CONTROL REVENUE                           | CUSIP: 311450FT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1438809.00   | 0.68%             | 2040-06-01      | Floating      | 1.15%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                      | PUBLIC FIN AUTH WI POLL CONTROL REVENUE                      | CUSIP: 74447HAB4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2028492.00   | 0.95%             | 2046-10-01      | Floating      | 3.30%                 | No            |                  2 | On Loan: No      |
| Michigan Finance Authority                                                    | MICHIGAN ST FIN AUTH REVENUE                                 | CUSIP: 59447T4A8<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1813571.11   | 0.85%             | 2044-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                             | ILLINOIS ST                                                  | CUSIP: 452153DE6<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |    500000 | PA      | $509257.00    | 0.24%             | 2025-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Illinois University                                                  | STHRN ILLINOIS ST UNIV                                       | CUSIP: 8431465J6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $382437.38    | 0.18%             | 2025-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Riverside CA                                                        | RIVERSIDE CNTY CA                                            | CUSIP: 769110CW5<br>LEI: 254900CB5HEOBAVTY629 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1512672.00   | 0.71%             | 2023-06-30      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Rogers County Educational Facilities Authority                                | ROGERS CNTY OK EDUCTNL FACS AUTH EDUCTNL FACS LEASE REVENUE  | CUSIP: 77514RBP1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1596547.50   | 0.75%             | 2026-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Washington MD                                                       | WASHINGTON CNTY MD CNTY COMMISSIONERS                        | CUSIP: 937752AG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.14%             | 2023-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Colorado Health Facilities Authority                                          | COLORADO ST HLTH FACS AUTH REVENUE                           | CUSIP: 19648A5X9<br>LEI: 5493002JB6DRFRZPEQ21 | Long             | DBT              | MUN               | US        |    565000 | PA      | $586820.30    | 0.28%             | 2025-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                   | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DCT7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    750000 | PA      | $748354.50    | 0.35%             | 2023-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Los Angeles CA                                                      | LOS ANGELES CNTY CA                                          | CUSIP: 544657HZ5<br>LEI: 254900NGUPWO7FB6II89 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2009120.00   | 0.94%             | 2023-06-30      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Prosper Independent School District                                           | PROSPER TX INDEP SCH DIST                                    | CUSIP: 743600L48<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $746010.00    | 0.35%             | 2050-02-15      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| Louisville/Jefferson County Metropolitan Government                           | LOUISVILLE & JEFFERSON CNTY KY MET GOVT ENVRNMNTL FACS       | CUSIP: 546751AN8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3000000.00   | 1.41%             | 2033-06-01      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| City of Plattsburgh NY                                                        | PLATTSBURGH NY                                               | CUSIP: 728041YZ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1680000 | PA      | $1694063.28   | 0.80%             | 2023-11-17      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| Maryland Stadium Authority Built to Learn Revenue                             | MARYLAND STADIUM AUTH BUILT TO LEARN REVENUE                 | CUSIP: 574294AY0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    600000 | PA      | $604810.20    | 0.28%             | 2023-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Lower Colorado River Authority                                                | LOWER COLORADO RIVER TX AUTH TRANSMISSION CONTRACT REVENUE   | CUSIP: 54811BYX3<br>LEI: 549300QJFPW2NNBYR215 | Long             | DBT              | MUN               | US        |    750000 | PA      | $769717.50    | 0.36%             | 2024-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Mexico Municipal Energy Acquisition Authority                             | NEW MEXICO ST MUNI ENERGY ACQUISITION AUTH GAS SPLY          | CUSIP: 647207AX7<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1147556.25   | 0.54%             | 2023-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Wise County Industrial Development Authority                                  | WISE CNTY VA INDL DEV AUTH SOL WST & SEWAGE DISP REVENUE     | CUSIP: 977228AD7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1436058.00   | 0.67%             | 2040-11-01      | Floating      | 1.20%                 | No            |                  2 | On Loan: No      |
| County of Miami-Dade FL Aviation Revenue                                      | MIAMI-DADE CNTY FL AVIATION REVENUE                          | CUSIP: 59333P5M6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1051118.00   | 0.49%             | 2025-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Newark NJ                                                             | NEWARK NJ                                                    | CUSIP: 650367SF3<br>LEI: 5493008RBPM01QHRYX34 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012778.00   | 0.95%             | 2023-09-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Nassau NY                                                           | NASSAU CNTY NY                                               | CUSIP: 63165TT62<br>LEI: 549300ICRCGQYCPS7T40 | Long             | DBT              | MUN               | US        |    500000 | PA      | $513795.50    | 0.24%             | 2034-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Dakota Housing Finance Agency                                           | NORTH DAKOTA ST HSG FIN AGY                                  | CUSIP: 658909TY2<br>LEI: 549300DVQAGW0B16JX70 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2007666.00   | 0.94%             | 2043-01-01      | Floating      | 3.86%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                      | PUBLIC FIN AUTH WI REVENUE                                   | CUSIP: 74442PWU5<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    870000 | PA      | $869414.49    | 0.41%             | 2027-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Illinois Finance Authority                                                    | ILLINOIS ST FIN AUTH REVENUE                                 | CUSIP: 45204FAR6<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    500000 | PA      | $544218.00    | 0.26%             | 2027-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Metropolitan Transportation Authority                                         | MET TRANSPRTN AUTH NY REVENUE                                | CUSIP: 59259YYD5<br>LEI: 5493000TKYODLXADQD60 | Long             | DBT              | MUN               | US        |   2065000 | PA      | $2075188.71   | 0.97%             | 2023-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                   | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DAW2<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1650000 | PA      | $1643211.90   | 0.77%             | 2048-08-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia College Building Authority                                           | VIRGINIA ST CLG BLDG AUTH EDUCTNL FACS REVENUE               | CUSIP: 927781CR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2300000 | PA      | $2300000.00   | 1.08%             | 2036-11-01      | Floating      | 3.62%                 | No            |                  2 | On Loan: No      |
| Oneida County Local Development Corp                                          | ONEIDA CO NY LOCAL DEV CORP REVENUE                          | CUSIP: 682440BZ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    355000 | PA      | $361424.08    | 0.17%             | 2025-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Louisiana Offshore Terminal Authority                                         | LOUISIANA ST OFFSHORE TERMINAL AUTH DEEPWATER PORT REVENUE   | CUSIP: 546510FP8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1471302.00   | 0.69%             | 2027-09-01      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| Bethlehem Area School District Authority                                      | BETHLEHEM PA AREA SCH DIST AUTH SCH REVENUE                  | CUSIP: 087368AM8<br>LEI: 549300TFB2HAL26FJP41 | Long             | DBT              | MUN               | US        |   1930000 | PA      | $1877046.59   | 0.88%             | 2031-07-01      | Floating      | 3.23%                 | No            |                  2 | On Loan: No      |
| Public Finance Authority                                                      | PUBLIC FIN AUTH WI HOSP REVENUE                              | CUSIP: 74442CCM4<br>LEI: 5493004S6D3NA627K012 | Long             | DBT              | MUN               | US        |    350000 | PA      | $375649.40    | 0.18%             | 2027-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oneida County Local Development Corp                                          | ONEIDA CO NY LOCAL DEV CORP REVENUE                          | CUSIP: 682440BY7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    290000 | PA      | $292919.14    | 0.14%             | 2024-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp III                             | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN  | CUSIP: 88256HBA5<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |    500000 | PA      | $512392.00    | 0.24%             | 2025-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Education Facilities Corp                                         | SAN ANTONIO TX EDU FACS CORP REVENUE                         | CUSIP: 796247BY9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3500000 | PA      | $3500000.00   | 1.64%             | 2033-06-01      | Floating      | 3.73%                 | No            |                  2 | On Loan: No      |
| Boerne School District                                                        | BOERNE TX INDEP SCH DIST                                     | CUSIP: 097067NK4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1800000 | PA      | $1799361.00   | 0.84%             | 2051-12-01      | Floating      | 2.80%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                         | NEW YORK ST HSG FIN AGY REVENUE                              | CUSIP: 64986UR25<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.23%             | 2046-11-01      | Floating      | 3.53%                 | No            |                  2 | On Loan: No      |
| Mississippi Business Finance Corp                                             | MISSISSIPPI ST BUSINESS FIN COMMISSION GULF OPPORTUNITY ZONE | CUSIP: 60528ABZ6<br>LEI: 549300DYV074JUDKBQ77 | Long             | DBT              | MUN               | US        |    500000 | PA      | $500000.00    | 0.23%             | 2035-11-01      | Floating      | 3.55%                 | No            |                  2 | On Loan: No      |
| Development Authority of Burke County/The                                     | BURKE CNTY GA DEV AUTH POLL CONTROL REVENUE                  | CUSIP: 121342PR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $495041.00    | 0.23%             | 2048-11-01      | Floating      | 2.93%                 | No            |                  2 | On Loan: No      |
| City of Farmington NM                                                         | FARMINGTON NM POLL CONTROL REVENUE                           | CUSIP: 311450FR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1438809.00   | 0.68%             | 2040-06-01      | Floating      | 1.15%                 | No            |                  2 | On Loan: No      |
| State of Ohio                                                                 | OHIO ST HOSP FAC REVENUE                                     | CUSIP: 677561LD2<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   3400000 | PA      | $3400000.00   | 1.60%             | 2052-01-01      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| State of Louisiana Gasoline & Fuels Tax Revenue                               | LOUISIANA ST GAS & FUELS TAX REVENUE                         | CUSIP: 546475VU5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    990000 | PA      | $918387.36    | 0.43%             | 2043-05-01      | Floating      | 3.51%                 | No            |                  2 | On Loan: No      |
| New York State Housing Finance Agency                                         | NEW YORK ST HSG FIN AGY                                      | CUSIP: 64987DTA2<br>LEI: 5493000LS7KCDB02O506 | Long             | DBT              | MUN               | US        |   2125000 | PA      | $2116219.50   | 0.99%             | 2023-11-01      | Fixed         | 2.70%                 | No            |                  2 | On Loan: No      |
| Eau Claire Area School District/WI                                            | EAU CLAIRE WI AREA SCH DIST                                  | CUSIP: 278445JD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2008930.00   | 0.94%             | 2023-06-21      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Interlocken Metropolitan District                                             | INTERLOCKEN CONSOL MET DIST CO                               | CUSIP: 45875CAE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    750000 | PA      | $760713.00    | 0.36%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE               | CUSIP: 09182NBX7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    420000 | PA      | $419658.96    | 0.20%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| King County Housing Authority                                                 | KING CNTY WA HSG AUTH                                        | CUSIP: 494759RK1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    790000 | PA      | $785015.10    | 0.37%             | 2023-06-01      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| San Antonio Housing Trust Finance Corp                                        | SAN ANTONIO TX HSG TRUST FIN CORP MF HSG REVENUE             | CUSIP: 79626PAP7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1941278.00   | 0.91%             | 2026-03-01      | Floating      | 1.45%                 | No            |                  2 | On Loan: No      |
| Massachusetts Development Finance Agency                                      | MASSACHUSETTS ST DEV FIN AGY REVENUE                         | CUSIP: 57584YPF0<br>LEI: 549300UZSVMFXJK08K70 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2462762.50   | 1.16%             | 2049-07-01      | Floating      | 4.26%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                             | ILLINOIS ST                                                  | CUSIP: 452152P88<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1018814.00   | 0.48%             | 2024-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Bexar County Hospital District                                                | BEXAR CNTY TX HOSP DIST                                      | CUSIP: 088365FA4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1252757.50   | 0.59%             | 2023-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Tender Option Bond Trust Receipts/Certificates                                | TENDER OPTION BOND TRUST RECEIPTS / CTFS VARIOUS STATES      | CUSIP: 88034X5B4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.94%             | 2061-07-01      | Floating      | 3.72%                 | No            |                  2 | On Loan: No      |
| Southeast Monmouth Municipal Utilities Authority                              | S E MONMOUTH NJ MUNI UTILITIES AUTH WTR REVENUE              | CUSIP: 84144PAR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    700000 | PA      | $702419.90    | 0.33%             | 2023-09-29      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| County of Boone KY                                                            | BOONE CNTY KY POLL CONTROL REVENUE                           | CUSIP: 098792AQ7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $986078.00    | 0.46%             | 2027-08-01      | Fixed         | 3.70%                 | No            |                  2 | On Loan: No      |
| Sacramento Municipal Utility District                                         | SACRAMENTO CA MUNI UTILITY DIST ELEC REVENUE                 | CUSIP: 786005ZV3<br>LEI: E3GSVR6ZOU1MX2V7HF33 | Long             | DBT              | MUN               | US        |    600000 | PA      | $603919.20    | 0.28%             | 2049-08-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Pulaski Community School District                                             | PULASKI WI CMNTY SCH DIST                                    | CUSIP: 745763LH3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1503171.00   | 0.71%             | 2023-07-12      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                       | MUNI ELEC AUTH OF GEORGIA                                    | CUSIP: 6262076G4<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    600000 | PA      | $610846.20    | 0.29%             | 2025-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Charlotte-Mecklenburg Hospital Authority/The                                  | CHARLOTTE-MECKLENBURG NC HOSPAUTH HLTH CARE SYS REVENUE      | CUSIP: 160853UN5<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.42%             | 2048-01-15      | Floating      | 3.60%                 | No            |                  2 | On Loan: No      |
| Kentucky Public Energy Authority                                              | KENTUCKY ST PUBLIC ENERGY AUTH GAS SPLY REVENUE              | CUSIP: 74440DBR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    450000 | PA      | $445285.35    | 0.21%             | 2049-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Minnesota Housing Finance Agency                                              | MINNESOTA ST HSG FIN AGY                                     | CUSIP: 60416SG61<br>LEI: 549300R89XDTQBK4GE22 | Long             | DBT              | MUN               | US        |    825000 | PA      | $822078.68    | 0.39%             | 2041-07-01      | Floating      | 4.21%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                   | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104MH8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $300000.00    | 0.14%             | 2023-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Wyandotte County Unified School District No 202 Turner                        | WYANDOTTE CNTY KS UNIF SCH DIST #202                         | CUSIP: 982683FP4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    350000 | PA      | $387407.65    | 0.18%             | 2031-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                        | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE              | CUSIP: 13049YEX5<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    300000 | PA      | $317466.00    | 0.15%             | 2026-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Chicago Heights IL                                                    | CHICAGO HEIGHTS IL MF REVENUE                                | CUSIP: 167403AC8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1489243.50   | 0.70%             | 2027-08-01      | Floating      | 2.88%                 | No            |                  2 | On Loan: No      |
| Main Street Natural Gas Inc                                                   | MAIN STREET NATURAL GAS INC GA GAS SUPPLY REVENUE            | CUSIP: 56035DAK8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1700000 | PA      | $1699461.10   | 0.80%             | 2048-04-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| E-470 Public Highway Authority                                                | E-470 CO PUBLIC HIGHWAY AUTH                                 | CUSIP: 26822LMV3<br>LEI: 549300164ZV2301BC703 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1983366.00   | 0.93%             | 2039-09-01      | Floating      | 3.23%                 | No            |                  2 | On Loan: No      |
| Westchester County Local Development Corp                                     | WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE                   | CUSIP: 95737TEA0<br>LEI: 549300KOSU8OC75V9238 | Long             | DBT              | MUN               | US        |    425000 | PA      | $427314.13    | 0.20%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| North Carolina Turnpike Authority                                             | NORTH CAROLINA ST TURNPIKE AUTH                              | CUSIP: 65830RCW7<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2036338.00   | 0.96%             | 2024-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| California Municipal Finance Authority                                        | CALIFORNIA ST MUNI FIN AUTH STUDENT HSG REVENUE              | CUSIP: 13049YEW7<br>LEI: 5493000UQOV6R4ZWS346 | Long             | DBT              | MUN               | US        |    350000 | PA      | $364054.60    | 0.17%             | 2025-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cook County Community High School District No 233 Homewood-Flossmoor          | COOK CNTY IL CMNTY HIGH SCH DIST #233 HOMEWOOD-FLOSSMOOR     | CUSIP: 216003JG9<br>LEI: 5493008IR2NQNOP1V536 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1036112.00   | 0.49%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| State of Washington                                                           | WASHINGTON ST                                                | CUSIP: 93974ECZ7<br>LEI: 549300X3TODFMUKLQ364 | Long             | DBT              | MUN               | US        |    500000 | PA      | $515716.00    | 0.24%             | 2024-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chisholm Creek Utility Authority                                              | CHISHOLM CREEK KS UTILITY AUTH WTR & WSTWTR FACS REVENUE     | CUSIP: 170123BZ5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1165000 | PA      | $1178860.01   | 0.55%             | 2023-09-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| Hempfield Area School District                                                | HEMPFIELD PA AREA SCH DIST WESTMORELAND CNTY                 | CUSIP: 423725PT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1410000 | PA      | $1521787.62   | 0.71%             | 2027-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nebraska Public Power District                                                | NEBRASKA ST PUBLIC PWR DIST REVENUE                          | CUSIP: 63968A4D4<br>LEI: 5493001J0BLQRMOJKP23 | Long             | DBT              | MUN               | US        |   1720000 | PA      | $1695479.68   | 0.80%             | 2051-01-01      | Floating      | 0.60%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                | BLACK BELT ENERGY GAS DIST ALGAS PREPAY REVENUE              | CUSIP: 09182RAR2<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1230000 | PA      | $1224011.13   | 0.57%             | 2049-12-01      | Floating      | 4.00%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                     | ORANGE CNTY FL HLTH FACS AUTHREVENUE                         | CUSIP: 68450LGS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     55000 | PA      | $59793.03     | 0.03%             | 2052-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| County of Escambia FL                                                         | ESCAMBIA CNTY FL ENVRNMNTL IMPT REVENUE                      | CUSIP: 29610QAG8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    775000 | PA      | $745928.98    | 0.35%             | 2033-11-01      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                            | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990GYG1<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    150000 | PA      | $152366.55    | 0.07%             | 2025-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Santa Fe Public School District                                               | SANTA FE NM PUBLIC SCH DIST                                  | CUSIP: 802088LJ1<br>LEI: 54930082JUO16DJWGD91 | Long             | DBT              | MUN               | US        |    900000 | PA      | $898485.30    | 0.42%             | 2023-08-01      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| City of Conroe TX                                                             | CONROE TX                                                    | CUSIP: 208399Y82<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    105000 | PA      | $105324.35    | 0.05%             | 2023-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Village of Tinley Park IL                                                     | TINLEY PARK IL                                               | CUSIP: 887547PL5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    870000 | PA      | $885807.03    | 0.42%             | 2024-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Town of Oyster Bay NY                                                         | OYSTER BAY NY                                                | CUSIP: 692160RQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $944008.75    | 0.44%             | 2024-11-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Dallas Fort Worth International Airport                                       | DALLAS-FORT WORTH TX INTERNATIONAL ARPT REVENUE              | CUSIP: 2350365Q9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1016243.00   | 0.48%             | 2023-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Florida Development Finance Corp                                              | FLORIDA ST DEV FIN CORP EDUCTNL FACS REVENUE                 | CUSIP: 34061UJW9<br>LEI: 549300HC854CNBLMWC48 | Long             | DBT              | MUN               | US        |    270000 | PA      | $277828.65    | 0.13%             | 2026-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Black Belt Energy Gas District                                                | BLACK BELT ENERGY GAS DIST AL GAS SPLY REVENUE               | CUSIP: 09182NBY5<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    450000 | PA      | $449509.95    | 0.21%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Allegheny County Hospital Development Authority                               | ALLEGHENY CNTY PA HOSP DEV AUTH                              | CUSIP: 01728A4K9<br>LEI: 54930046B973R604OG22 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1573561.50   | 0.74%             | 2025-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New York City Municipal Water Finance Authority                               | NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE     | CUSIP: 64972GCM4<br>LEI: 549300Q2EHQ6RJPQKP05 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2000000.00   | 0.94%             | 2050-06-15      | Floating      | 3.65%                 | No            |                  2 | On Loan: No      |
| City of Houston TX Airport System Revenue                                     | HOUSTON TX ARPT SYS REVENUE                                  | CUSIP: 442349BA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    150000 | PA      | $151389.60    | 0.07%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Connecticut State Health & Educational Facilities Authority                   | CONNECTICUT ST HLTH & EDUCTNL FACS AUTH REVENUE              | CUSIP: 20774LRU1<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1000000.00   | 0.47%             | 2036-07-01      | Floating      | 2.95%                 | No            |                  2 | On Loan: No      |
| Orange County Health Facilities Authority                                     | ORANGE CNTY FL HLTH FACS AUTHREVENUE                         | CUSIP: 68450LGT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $871596.04    | 0.41%             | 2052-11-15      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| Clinton Bond Fayette Etc Counties Community College District No 501 Kaskaskia | CLINTON BOND FAYETTE JEFFERSON ETC CNTYS IL CCD #501         | CUSIP: 187350FG3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    220000 | PA      | $239987.22    | 0.11%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| New Jersey Economic Development Authority                                     | NEW JERSEY ST ECON DEV AUTH REVENUE                          | CUSIP: 645918T78<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1002472.00   | 0.47%             | 2024-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Oneida County Local Development Corp                                          | ONEIDA CO NY LOCAL DEV CORP REVENUE                          | CUSIP: 682440BX9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $275795.58    | 0.13%             | 2023-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Denton Independent School District                                            | DENTON TX INDEP SCH DIST                                     | CUSIP: 249002JW7<br>LEI: 5493005I9W678SUI0Z07 | Long             | DBT              | MUN               | US        |    135000 | PA      | $133115.40    | 0.06%             | 2044-08-01      | Floating      | 2.00%                 | No            |                  2 | On Loan: No      |
| City of New Haven CT                                                          | NEW HAVEN CT                                                 | CUSIP: 6450207Z5<br>LEI: 549300U4OHEAZ124LQ06 | Long             | DBT              | MUN               | US        |    550000 | PA      | $580026.70    | 0.27%             | 2026-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nevada Housing Division                                                       | NEVADA ST HSG DIV                                            | CUSIP: 641272HM4<br>LEI: 549300RE377OK3CTT852 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1028503.00   | 0.48%             | 2025-12-01      | Floating      | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lubbock TX Electric Light & Power System Revenue                      | LUBBOCK TX ELEC LIGHT & PWR SYS                              | CUSIP: 549203WU7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    725000 | PA      | $760106.68    | 0.36%             | 2025-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| City of Lubbock TX Electric Light & Power System Revenue                      | LUBBOCK TX ELEC LIGHT & PWR SYS                              | CUSIP: 549203WV5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    675000 | PA      | $721869.30    | 0.34%             | 2026-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Cook County Community College District No 508                                 | COOK CNTY IL CMNTY CLG DIST #508                             | CUSIP: 213187BY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $505573.00    | 0.24%             | 2023-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Highland Park Independent School District/Dallas County                       | HIGHLAND PARK TX INDEP SCH DIST                              | CUSIP: 430686PS8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1038888.03   | 0.49%             | 2024-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| School District of Philadelphia/The                                           | PHILADELPHIA PA SCH DIST                                     | CUSIP: 717883SZ6<br>LEI: 254900HSKDHZKBZCUL90 | Long             | DBT              | MUN               | US        |    620000 | PA      | $634881.86    | 0.30%             | 2024-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| University of Washington                                                      | UNIV OF WASHINGTON WA UNIV REVENUES                          | CUSIP: 91523NSH0<br>LEI: T8YS5W0N70BYCTHPA429 | Long             | DBT              | MUN               | US        |    300000 | PA      | $301400.40    | 0.14%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Halifax County Industrial Development Authority                               | HALIFAX CNTY VA INDL DEV AUTH REVENUE                        | CUSIP: 40579PAD3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1463952.00   | 0.69%             | 2041-12-01      | Floating      | 1.65%                 | No            |                  2 | On Loan: No      |
| Municipal Electric Authority of Georgia                                       | MUNI ELEC AUTH OF GEORGIA                                    | CUSIP: 6262073R3<br>LEI: JA0WNILDDF2KUPS83B16 | Long             | DBT              | MUN               | US        |    830000 | PA      | $841673.12    | 0.40%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Arizona Health Facilities Authority                                           | ARIZONA ST HLTH FACS AUTH                                    | CUSIP: 040507QA6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $984545.00    | 0.46%             | 2046-01-01      | Floating      | 3.91%                 | 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        |   2000000 | PA      | $1934370.00   | 0.91%             | 2024-11-01      | Floating      | 0.53%                 | No            |                  2 | On Loan: No      |
| Sierra Ridge Metropolitan District No 2                                       | SIERRA RIDGE MET DIST #2 CO                                  | CUSIP: 82648CAG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    275000 | PA      | $281291.73    | 0.13%             | 2025-12-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Michigan State Hospital Finance Authority                                     | MICHIGAN ST HOSP FIN AUTH                                    | CUSIP: 59465HUA2<br>LEI: 54930011MIBQ2P7ZNM19 | Long             | DBT              | MUN               | US        |    500000 | PA      | $499245.00    | 0.23%             | 2047-11-15      | Floating      | 2.40%                 | No            |                  2 | On Loan: No      |
| County of Scioto OH                                                           | SCIOTO CNTY OH HOSP REVENUE                                  | CUSIP: 808878GN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2022048.28   | 0.95%             | 2023-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Texas Municipal Gas Acquisition & Supply Corp III                             | TEXAS ST MUNI GAS ACQUISITION& SPLY CORP III GAS SPLY REVEN  | CUSIP: 88256HBB3<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |    625000 | PA      | $644301.25    | 0.30%             | 2026-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Manchester-Shortsville Central School District                                | MANCHESTER-SHORTSVILLE NY CENTRL SCH DIST                    | CUSIP: 562390HQ0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2200000 | PA      | $2206254.60   | 1.04%             | 2023-08-17      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| New York State Dormitory Authority                                            | NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT         | CUSIP: 64990GYF3<br>LEI: 549300C8XO7EXTX2XU71 | Long             | DBT              | MUN               | US        |    200000 | PA      | $201693.00    | 0.09%             | 2024-07-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Virginia Small Business Financing Authority                                   | VIRGINIA ST SMALL BUSINESS FING AUTH REVENUE                 | CUSIP: 928104MJ4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $404078.80    | 0.19%             | 2024-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                             | ILLINOIS ST                                                  | CUSIP: 452153BE8<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1050367.50   | 0.49%             | 2023-03-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Peshtigo School District                                                      | PESHTIGO WI SCH DIST                                         | CUSIP: 715777EN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1502799.00   | 0.71%             | 2023-06-22      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Arlington Higher Education Finance Corp                                       | ARLINGTON TX HGR EDU FIN CORP EDU REVENUE                    | CUSIP: 0418066Z8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    365000 | PA      | $385715.58    | 0.18%             | 2026-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Private Colleges & Universities Authority                                     | PRIV CLGS & UNIVS AUTH GA                                    | CUSIP: 74265LW46<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    495000 | PA      | $525695.94    | 0.25%             | 2026-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Southern Illinois University                                                  | STHRN ILLINOIS ST UNIV                                       | CUSIP: 8431465K3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    320000 | PA      | $329719.68    | 0.15%             | 2026-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Nassau County Local Economic Assistance Corp                                  | NASSAU CNTY NY LOCAL ECON ASSIASSISTANCE CORP MULTIFAMILY    | CUSIP: 63166NAA5<br>LEI: 549300FCI13UFG0Y6Y37 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1957662.00   | 0.92%             | 2024-11-01      | Floating      | 0.30%                 | No            |                  2 | On Loan: No      |
| Knox County Health Educational & Housing Facility Board                       | KNOX CNTY TN HLTH EDUCTNL & HSG FAC BRD MF HSG REVENUE       | CUSIP: 499652AM7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2023062.00   | 0.95%             | 2027-12-01      | Floating      | 3.95%                 | No            |                  2 | On Loan: No      |
| Northern Arizona University                                                   | NTHRN AZ UNIV                                                | CUSIP: 664754X86<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1115000 | PA      | $1127315.18   | 0.53%             | 2024-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Columbia Industrial Development Board                                         | COLUMBIA AL INDL DEV BRD POLL CONTROL REVENUE                | CUSIP: 197210AX5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3100000 | PA      | $3100000.00   | 1.46%             | 2037-12-01      | Floating      | 3.75%                 | No            |                  2 | On Loan: No      |
| Southern Illinois University                                                  | STHRN ILLINOIS ST UNIV                                       | CUSIP: 8431465G2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    460000 | PA      | $460726.34    | 0.22%             | 2023-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| State of Illinois                                                             | ILLINOIS ST                                                  | CUSIP: 452153DG1<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1037763.00   | 0.49%             | 2027-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Chatom Industrial Development Board                                           | CHATOM AL INDL DEV BRD GULF OPPORTUNITY ZONE                 | CUSIP: 16229PAT2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    425000 | PA      | $443617.13    | 0.21%             | 2025-08-01      | 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