# EDGAR Filing Document

**Accession Number:** 0000816153
**File Stem:** 0001410368-25-029197
**Filing Date:** 2025-11
**Character Count:** 71412
**Document Hash:** 2b4942a02ab7bc6c7a780be0afd9a31d
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-25-029197.hdr.sgml**: 20251124

**ACCESSION NUMBER**: 0001410368-25-029197

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20250930

**FILED AS OF DATE**: 20251124

**DATE AS OF CHANGE**: 20251124

**PERIOD START**: 20250930

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** THORNBURG INVESTMENT TRUST
- **CENTRAL INDEX KEY:** 0000816153

**ORGANIZATION NAME:**
- **EIN:** 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:** 251510273

**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 Investment Grade Bond Managed Account Fund (Series ID: S000091428)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000259093 | Class SMA    | TIGMX           |

## 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 Investment Grade Bond Managed Account Fund

- **b. EDGAR series identifier (if any):** S000091428

- **c. LEI of Series:** 25490088Q3RPAQ2Y4M32

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

- **a. Date of fiscal year-end:** 2025-09-30

- **b. Date as of which information is reported:** 2025-09-30

**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:** $2262516.76

**Total Liabilities:** $63793.25

**Net Assets:** $2198723.51

**Currency Risk Metrics (dv01):**

- 

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

- **3-Month:** -13.43000000 | **1-Year:** -98.65000000 | **5-Year:** -175.20000000 | **10-Year:** -93.49000000 | **30-Year:** -5.07000000

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

- **3-Month:** -1.39000000 | **1-Year:** -1.79000000 | **5-Year:** -0.80000000 | **10-Year:** 0.00000000 | **30-Year:** 0.00000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000259093 | 0.35%                | 0.85%                | 0.44%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $444.96                  | $-4203.38                                  |
| Month 2  | $-18.31                  | $9386.07                                   |
| Month 3  | $1.89                    | $468.73                                    |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| Octane Receivables Trust                      | Octane Receivables Trust 2023-1                                    | CUSIP: 67571BAA1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17168 | PA      | $17194.56     | 0.78%             | 2029-05-21      | Fixed         | 5.87%                 | No            |                  2 | On Loan: No      |
| JERSEY CENTRAL PWR & LT                       | Jersey Central Power & Light Co                                    | CUSIP: 476556DC6<br>LEI: 549300W9UGH9ZPLNPF79 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9998.80      | 0.45%             | 2026-01-15      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| Angel Oak Mortgage Trust                      | Angel Oak Mortgage Trust 2020-R1                                   | CUSIP: 034651AA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     27005 | PA      | $25687.60     | 1.17%             | 2053-04-25      | Variable      | 0.99%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                      | Alimentation Couche-Tard Inc                                       | CUSIP: 01626PAU0<br>LEI: 549300OSW32RVX8CCZ87 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15337.50     | 0.70%             | 2034-02-12      | Fixed         | 5.27%                 | No            |                  2 | On Loan: No      |
| COLORADO INT GAS CO/ISS                       | Colorado Interstate Gas Co LLC / Colorado Interstate Issuing Corp  | CUSIP: 196500AA0<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9982.00      | 0.45%             | 2026-08-15      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| SUMITOMO MITSUI FINL GRP                      | Sumitomo Mitsui Financial Group Inc                                | CUSIP: 86562MBG4<br>LEI: 35380028MYWPB6AUO129 | Long             | DBT              | CORP              | JP        |     16000 | PA      | $16108.16     | 0.73%             | 2028-10-16      | Fixed         | 4.31%                 | No            |                  2 | On Loan: No      |
| PSEG POWER LLC                                | PSEG Power LLC                                                     | CUSIP: 69362BBD3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10262.30     | 0.47%             | 2030-05-15      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| HYUNDAI CAPITAL AMERICA                       | Hyundai Capital America                                            | CUSIP: 44891ACX3<br>LEI: 549300RIPPWJB5Z0FK07 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10137.90     | 0.46%             | 2027-03-19      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                        | Sequoia Mortgage Trust 2018-2                                      | CUSIP: 81746QAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     24414 | PA      | $21985.94     | 1.00%             | 2048-02-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| MFRA Trust                                    | MFA 2020-NQM2 Trust                                                | CUSIP: 552751AC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     16035 | PA      | $15467.02     | 0.70%             | 2065-04-25      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust              | SMB Private Education Loan Trust 2017-B                            | CUSIP: 83189DAC4<br>LEI: 549300NWENTZ8X7JUC78 | Long             | ABS-O            | CORP              | US        |     11172 | PA      | $11160.38     | 0.51%             | 2035-10-15      | Floating      | 5.01%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae REMICS                                                  | CUSIP: 3136AYMB6<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |     22823 | PA      | $22624.88     | 1.03%             | 2053-04-25      | Fixed         | 3.50%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                    | Flagship Credit Auto Trust 2021-4                                  | CUSIP: 33845AAC1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11770 | PA      | $11660.37     | 0.53%             | 2027-12-15      | Fixed         | 1.96%                 | No            |                  2 | On Loan: No      |
| Space Coast Credit Union                      | SCCU Auto Receivables Trust 2024-1                                 | CUSIP: 78436RAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21000 | PA      | $21177.36     | 0.96%             | 2029-06-15      | Fixed         | 5.11%                 | No            |                  2 | On Loan: No      |
| SFS Auto Receivables Securitization Trust     | SFS Auto Receivables Securitization Trust 2024-2                   | CUSIP: 78397XAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      4464 | PA      | $4468.53      | 0.20%             | 2027-10-20      | Fixed         | 5.71%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust  | American Credit Acceptance Receivables Trust 2022-4                | CUSIP: 02529XAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20541 | PA      | $20746.65     | 0.94%             | 2029-02-15      | Fixed         | 8.00%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust  | American Credit Acceptance Receivables Trust 2023-2                | CUSIP: 02529YAE3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2774 | PA      | $2776.62      | 0.13%             | 2029-08-13      | Fixed         | 5.96%                 | No            |                  2 | On Loan: No      |
| EVERGY MISSOURI WEST INC                      | Evergy Missouri West Inc                                           | CUSIP: 30037EAB9<br>LEI: EZIFUDC0VSUS6T6LCG85 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10332.60     | 0.47%             | 2034-06-01      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| EQUITABLE FINANCIAL LIFE                      | Equitable Financial Life Global Funding                            | CUSIP: 29449WAF4<br>LEI: 635400B4JJBON4TCHF02 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11329.08     | 0.52%             | 2028-03-08      | Fixed         | 1.80%                 | No            |                  2 | On Loan: No      |
| PRINCIPAL LFE GLB FND II                      | Principal Life Global Funding II                                   | CUSIP: 74256LEW5<br>LEI: 635400WSLKBQWSOIIT41 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10324.10     | 0.47%             | 2028-06-28      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                            | F&G Global Funding                                                 | CUSIP: 30321L2A9<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1960.42      | 0.09%             | 2026-06-30      | Fixed         | 1.75%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                     | Towd Point Mortgage Trust 2017-4                                   | CUSIP: 89173UAA5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     18054 | PA      | $17602.41     | 0.80%             | 2057-06-25      | Variable      | 2.75%                 | No            |                  2 | On Loan: No      |
| SEALED AIR CORP                               | Sealed Air Corp                                                    | CUSIP: 81211KAZ3<br>LEI: Q0M0CZB4YN6JZ65WXI09 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9690.40      | 0.44%             | 2026-10-15      | Fixed         | 1.57%                 | No            |                  2 | On Loan: No      |
| MUTUAL OF OMAHA GLOBAL                        | Mutual of Omaha Cos Global Funding                                 | CUSIP: 62829D2B5<br>LEI: 635400AL5J3F1ZPTAN95 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10340.10     | 0.47%             | 2028-12-12      | Fixed         | 5.45%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust           | New Residential Mortgage Loan Trust 2019-NQM4                      | CUSIP: 64828EAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17342 | PA      | $16459.14     | 0.75%             | 2059-09-25      | Variable      | 2.49%                 | No            |                  2 | On Loan: No      |
| Metlife Securitization Trust                  | METLIFE SECURITIZATION TRUST 2019-1                                | CUSIP: 59166EAB1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     21506 | PA      | $21335.82     | 0.97%             | 2058-04-25      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| PROTECTIVE LIFE CORP                          | Protective Life Corp                                               | CUSIP: 743674BE2<br>LEI: 549300ZWIT8J8Y2EXL07 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9572.80      | 0.44%             | 2030-01-15      | Fixed         | 3.40%                 | No            |                  2 | On Loan: No      |
| GREAT AMERICA LEASING RECEIVABLES             | GreatAmerica Leasing Receivables Funding LLC Series 2023-1         | CUSIP: 39154TCC0<br>LEI: 549300JFP7GIDD4UWO79 | Long             | ABS-O            | CORP              | US        |     22932 | PA      | $23067.76     | 1.05%             | 2027-07-15      | Fixed         | 5.15%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae Pool                                                    | CUSIP: 3140NYNQ0<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      7000 | PA      | $7122.69      | 0.32%             | 2030-06-01      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| Regional Management Issuance Trust            | Regional Management Issuance Trust 2022-1                          | CUSIP: 75907DAA5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11454 | PA      | $11404.32     | 0.52%             | 2032-03-15      | Fixed         | 3.07%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust         | Westlake Automobile Receivables Trust 2021-3                       | CUSIP: 96043JAL9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3064 | PA      | $3054.94      | 0.14%             | 2027-01-15      | Fixed         | 2.12%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust           | New Residential Mortgage Loan Trust 2017-1                         | CUSIP: 64829JAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     18340 | PA      | $17790.65     | 0.81%             | 2057-02-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN NATIONAL GROUP                       | American National Group Inc                                        | CUSIP: 02772AAA7<br>LEI: 549300RK5RZQ740FPL83 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10468.60     | 0.48%             | 2032-06-13      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| Pawnee Equipment Receivables                  | Pawneee Equipment Receivables Series 2021-1 LLC                    | CUSIP: 704100AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10000 | PA      | $9949.47      | 0.45%             | 2027-07-15      | Fixed         | 2.75%                 | No            |                  2 | On Loan: No      |
| DLLMT LLC                                     | DLLMT 2023-1 LLC                                                   | CUSIP: 232989AD5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15000 | PA      | $15170.65     | 0.69%             | 2031-03-20      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| LINCOLN FIN GLBL FUNDING                      | Lincoln Financial Global Funding                                   | CUSIP: 53359KAA9<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10347.20     | 0.47%             | 2030-01-13      | Fixed         | 5.30%                 | No            |                  2 | On Loan: No      |
| GLS Auto Select Receivables Trust             | GLS Auto Select Receivables Trust 2023-2                           | CUSIP: 36269EAB5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20181 | PA      | $20312.59     | 0.92%             | 2028-06-15      | Fixed         | 6.37%                 | No            |                  2 | On Loan: No      |
| Lex Commercial Loan Master Trust              | LEX 2024-BBG Mortgage Trust                                        | CUSIP: 52885AAA6<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15000 | PA      | $15099.03     | 0.69%             | 2033-10-13      | Variable      | 5.04%                 | No            |                  2 | On Loan: No      |
| SOUTH BOW USA INFRA HLDS                      | South Bow USA Infrastructure Holdings LLC                          | CUSIP: 83007CAB8<br>LEI: 254900Z1WAY7QFQ7O850 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10087.50     | 0.46%             | 2027-09-01      | Fixed         | 4.91%                 | No            |                  2 | On Loan: No      |
| LAD Auto Receivables Trust                    | LAD Auto Receivables Trust 2024-3                                  | CUSIP: 505709AB1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7409 | PA      | $7417.62      | 0.34%             | 2027-11-15      | Fixed         | 4.64%                 | No            |                  2 | On Loan: No      |
| MARS INC                                      | Mars Inc                                                           | CUSIP: 571676AY1<br>LEI: 54930073HKEO6GZBSS03 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20378.80     | 0.93%             | 2030-03-01      | Fixed         | 4.80%                 | No            |                  2 | On Loan: No      |
| BROOKLYN UNION GAS CO                         | Brooklyn Union Gas Co/The                                          | CUSIP: 114259AN4<br>LEI: 83BQ1DXS6VA5GZFK8S35 | Long             | DBT              | CORP              | US        |     20000 | PA      | $19924.60     | 0.91%             | 2026-03-10      | Fixed         | 3.41%                 | No            |                  2 | On Loan: No      |
| GS Mortgage-Backed Securities Trust           | GS Mortgage-Backed Securities Corp Trust 2019-PJ3                  | CUSIP: 36257QAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9285 | PA      | $8752.29      | 0.40%             | 2050-03-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                  | CSMC 2018-RPL9 Trust                                               | CUSIP: 12654PAA6<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     17295 | PA      | $17026.15     | 0.77%             | 2057-09-25      | Variable      | 3.85%                 | No            |                  2 | On Loan: No      |
| NRG ENERGY INC                                | NRG Energy Inc                                                     | CUSIP: 629377CN0<br>LEI: 5E2UPK5SW04M13XY7I38 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9943.00      | 0.45%             | 2025-12-02      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK LIFE GLOBAL FDG                      | New York Life Global Funding                                       | CUSIP: 64952WEZ2<br>LEI: 635400DPNHEAUHB7ZI15 | Long             | DBT              | CORP              | US        |     17000 | PA      | $16962.94     | 0.77%             | 2033-01-28      | Fixed         | 4.55%                 | No            |                  2 | On Loan: No      |
| Avnet Inc                                     | Avnet Inc                                                          | CUSIP: 053807AS2<br>LEI: XJI53DCPL7QABOWK4Z75 | Long             | DBT              | CORP              | US        |      2000 | PA      | $1999.86      | 0.09%             | 2026-04-15      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| TRANS-ALLEGHENY INTERSTA                      | Trans-Allegheny Interstate Line Co                                 | CUSIP: 893045AF1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10255.10     | 0.47%             | 2031-01-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ELFI Graduate Loan Program                    | ELFI Graduate Loan Program 2019-A LLC                              | CUSIP: 26857EAA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     16037 | PA      | $15473.02     | 0.70%             | 2044-03-25      | Fixed         | 2.54%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                             | ITC Holdings Corp                                                  | CUSIP: 465685AT2<br>LEI: 549300HTO5U9D3SLE207 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20804.00     | 0.95%             | 2034-05-09      | Fixed         | 5.65%                 | No            |                  2 | On Loan: No      |
| SAMMONS FINANCIAL GROUP                       | Sammons Financial Group Inc                                        | CUSIP: 79588TAC4<br>LEI: 254900SHCOQLVJ21CT59 | Long             | DBT              | CORP              | US        |     12000 | PA      | $11988.12     | 0.55%             | 2027-05-12      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                      | OBX 2019-EXP1 Trust                                                | CUSIP: 67448QAD3<br>LEI: 549300ELWOCL265HSB73 | Long             | ABS-MBS          | CORP              | US        |      3035 | PA      | $3003.14      | 0.14%             | 2059-01-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Government National Mortgage Association      | Government National Mortgage Association                           | CUSIP: 38379FNW5<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |     17224 | PA      | $17045.62     | 0.78%             | 2043-09-20      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust               | Prestige Auto Receivables Trust 2025-1                             | CUSIP: 74113UAC6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     20000 | PA      | $20042.41     | 0.91%             | 2027-12-15      | Fixed         | 4.87%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                    | Flagship Credit Auto Trust 2024-1                                  | CUSIP: 33843VAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7904 | PA      | $7932.00      | 0.36%             | 2028-03-15      | Fixed         | 5.64%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                        | Sequoia Mortgage Trust 2015-4                                      | CUSIP: 81746MAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     18289 | PA      | $17916.78     | 0.81%             | 2030-11-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Starwood Mortgage Residential Trust           | Starwood Mortgage Residential Trust 2020-3                         | CUSIP: 85573MAA7<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8271 | PA      | $8027.92      | 0.37%             | 2065-04-25      | Variable      | 1.49%                 | No            |                  2 | On Loan: No      |
| Social Professional Loan Program LLC          | Sofi Professional Loan Program 2019-A LLC                          | CUSIP: 78471HAB4<br>LEI: 5493002WMPR84WZ75V46 | Long             | ABS-O            | CORP              | US        |     18655 | PA      | $18521.28     | 0.84%             | 2048-06-15      | Fixed         | 3.69%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                | Carvana Auto Receivables Trust 2022-N1                             | CUSIP: 14686GAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21162 | PA      | $20991.98     | 0.95%             | 2028-12-11      | Fixed         | 3.21%                 | No            |                  2 | On Loan: No      |
| LINCOLN FIN GLBL FUNDING                      | Lincoln Financial Global Funding                                   | CUSIP: 53359KAB7<br>LEI: 984500OC010458395923 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10109.20     | 0.46%             | 2028-05-28      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Lobel Automobile Receivables Trust            | Lobel Automobile Receivables Trust 2023-1                          | CUSIP: 53946XAC7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10932 | PA      | $10948.28     | 0.50%             | 2028-10-16      | Fixed         | 8.31%                 | No            |                  2 | On Loan: No      |
| Freddie Mac                                   | Freddie Mac REMICS                                                 | CUSIP: 3137AYHU8<br>LEI: S6XOOCT0IEG5ABCC6L87 | Long             | ABS-MBS          | USGSE             | US        |     23386 | PA      | $22888.94     | 1.04%             | 2033-02-15      | Fixed         | 3.00%                 | No            |                  2 | On Loan: No      |
| Thornburg Capital Management Fund             | Thornburg Capital Management Fund                                  | CUSIP: 885216739<br>LEI: 549300GLR0WG6ALV5277 | Long             | EC               | RF                | US        |     13602 | NS      | $136021.77    | 6.19%             |  |  |  | No            |                  1 | On Loan: No      |
| Government National Mortgage Association      | Government National Mortgage Association                           | CUSIP: 38384U7Y9<br>LEI: 549300M8ZYFG0OCMTT87 | Long             | ABS-MBS          | USGA              | US        |      7319 | PA      | $7334.18      | 0.33%             | 2054-02-20      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                    | Flagship Credit Auto Trust 2022-2                                  | CUSIP: 33844XAG3<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15044 | PA      | $15044.73     | 0.68%             | 2027-05-17      | Fixed         | 4.76%                 | No            |                  2 | On Loan: No      |
| BRIGHTHSE FIN GLBL FUND                       | Brighthouse Financial Global Funding                               | CUSIP: 10921U2E7<br>LEI: 549300BLFX3KJ2IFOA78 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9309.50      | 0.42%             | 2028-06-28      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Veros Auto Receivables Trust                  | Veros Auto Receivables Trust 2023-1                                | CUSIP: 924933AC8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     21000 | PA      | $21452.46     | 0.98%             | 2028-11-15      | Fixed         | 8.32%                 | No            |                  2 | On Loan: No      |
| ONCOR ELECTRIC DELIVERY                       | Oncor Electric Delivery Co LLC                                     | CUSIP: 68233JCZ5<br>LEI: 549300SP2X2BS1KERD24 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10346.90     | 0.47%             | 2035-04-01      | Fixed         | 5.35%                 | No            |                  2 | On Loan: No      |
| Upstart Structured Pass-Through Trust         | Upstart Structured Pass-Through Trust Series 2022-2A               | CUSIP: 91680YAY7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     27834 | PA      | $27728.85     | 1.26%             | 2030-06-17      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae REMICS                                                  | CUSIP: 31397L3R8<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      5445 | PA      | $5655.42      | 0.26%             | 2038-07-25      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| GA GLOBAL FUNDING TRUST                       | GA Global Funding Trust                                            | CUSIP: 36143L2A2<br>LEI: 54930029I8ROQ4OROZ88 | Long             | DBT              | CORP              | US        |      3000 | PA      | $2974.89      | 0.14%             | 2026-01-15      | Fixed         | 1.63%                 | No            |                  2 | On Loan: No      |
| Huntington Auto Trust                         | Huntington Auto Trust 2024-1                                       | CUSIP: 446144AE7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     25000 | PA      | $25271.90     | 1.15%             | 2029-01-16      | Fixed         | 5.23%                 | No            |                  2 | On Loan: No      |
| ASCOT GROUP LTD                               | Ascot Group Ltd                                                    | CUSIP: 04365XAA6<br>LEI: 213800DJV7WRJBE2II28 | Long             | DBT              | CORP              | BM        |     15000 | PA      | $13667.55     | 0.62%             | 2030-12-15      | Fixed         | 4.25%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING/PTL                      | Penske Truck Leasing Co Lp / PTL Finance Corp                      | CUSIP: 709599BN3<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     15000 | PA      | $15026.85     | 0.68%             | 2027-07-01      | Fixed         | 4.40%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                       | Flagstar Mortgage Trust 2018-2                                     | CUSIP: 33851HAC7<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |     18808 | PA      | $18166.38     | 0.83%             | 2048-04-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivables Trust         | Onemain Direct Auto Receivables Trust 2022-1                       | CUSIP: 68269DAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     22328 | PA      | $22347.71     | 1.02%             | 2029-03-14      | Fixed         | 4.65%                 | No            |                  2 | On Loan: No      |
| Mosaic Solar Loans LLC                        | Mosaic Solar Loans 2017-1 LLC                                      | CUSIP: 61946EAA6<br>LEI: 549300ZLA8SW2SVJMN33 | Long             | ABS-O            | CORP              | US        |     13337 | PA      | $12732.80     | 0.58%             | 2042-06-20      | Fixed         | 4.45%                 | No            |                  2 | On Loan: No      |
| DT Auto Owner Trust                           | DT Auto Owner Trust 2021-3                                         | CUSIP: 23344QAD1<br>LEI: 549300XVMF0FUK76JG97 | Long             | ABS-O            | CORP              | US        |      7038 | PA      | $6966.96      | 0.32%             | 2027-05-17      | Fixed         | 1.31%                 | No            |                  2 | On Loan: No      |
| HIGHMARK INC                                  | Highmark Inc                                                       | CUSIP: 431116AD4<br>LEI: 549300B6868ZXXEB2Y57 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9806.60      | 0.45%             | 2026-05-10      | Fixed         | 1.45%                 | No            |                  2 | On Loan: No      |
| OSCAR US Funding Trust                        | Oscar US Funding XII LLC                                           | CUSIP: 68785AAD7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | JP        |      1165 | PA      | $1157.12      | 0.05%             | 2028-04-10      | Fixed         | 1.00%                 | No            |                  2 | On Loan: No      |
| Bankers Healthcare Group Securitization Trust | BHG Securitization Trust 2021-A                                    | CUSIP: 08861YAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9776 | PA      | $9672.80      | 0.44%             | 2033-11-17      | Fixed         | 1.42%                 | No            |                  2 | On Loan: No      |
| BofA Auto Trust                               | BofA Auto Trust 2024-1                                             | CUSIP: 09709AAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     19270 | PA      | $19277.93     | 0.88%             | 2026-12-15      | Fixed         | 5.57%                 | No            |                  2 | On Loan: No      |
| LIBERTY UTILITIES FIN                         | Liberty Utilities Finance GP 1                                     | CUSIP: 531546AB5<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $8924.40      | 0.41%             | 2030-09-15      | Fixed         | 2.05%                 | No            |                  2 | On Loan: No      |
| Toyota Lease Owner Trust                      | Toyota Lease Owner Trust 2023-B                                    | CUSIP: 89240HAD7<br>LEI: 254900ILC8EOVFWZQA04 | Long             | ABS-O            | CORP              | US        |      5525 | PA      | $5536.20      | 0.25%             | 2026-11-20      | Fixed         | 5.66%                 | No            |                  2 | On Loan: No      |
| FORTITUDE GROUP HOLDINGS                      | Fortitude Group Holdings LLC                                       | CUSIP: 34966XAA6<br>LEI: 2549006R9ZUL08JFIH12 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10382.90     | 0.47%             | 2030-04-01      | Fixed         | 6.25%                 | No            |                  2 | On Loan: No      |
| Citizens Auto Receivables Trust               | Citizens Auto Receivables Trust 2024-2                             | CUSIP: 17331XAB7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2336 | PA      | $2336.59      | 0.11%             | 2026-11-16      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Lobel Automobile Receivables Trust            | Lobel Automobile Receivables Trust 2025-1                          | CUSIP: 53948RAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6213 | PA      | $6227.05      | 0.28%             | 2027-11-15      | Fixed         | 5.06%                 | No            |                  2 | On Loan: No      |
| COMCAST HOLDINGS CORP                         | Comcast Holdings Corp                                              | CUSIP: 200300507<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     25000 | PA      | $15006.00     | 0.68%             | 2029-10-15      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Enel Americas SA                              | Enel Americas SA                                                   | CUSIP: 29274FAF1<br>LEI: 549300LKH11TFCJLZK20 | Long             | DBT              | CORP              | CL        |     17000 | PA      | $16967.70     | 0.77%             | 2026-10-25      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| Protective Life Corp                          | Protective Life Corp                                               | CUSIP: 743674BD4<br>LEI: 549300ZWIT8J8Y2EXL07 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9989.60      | 0.45%             | 2028-09-30      | Fixed         | 4.30%                 | No            |                  2 | On Loan: No      |
| CNO GLOBAL FUNDING                            | CNO Global Funding                                                 | CUSIP: 18977W2G4<br>LEI: 6354008GTNR4833ULD48 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10139.90     | 0.46%             | 2027-12-10      | Fixed         | 4.88%                 | No            |                  2 | On Loan: No      |
| ClickLease Equipment Receivables 2024-1 Trust | ClickLease Equipment Receivables 2024-1 Trust                      | CUSIP: 18682FAB9<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5229 | PA      | $5241.10      | 0.24%             | 2030-02-15      | Fixed         | 7.34%                 | No            |                  2 | On Loan: No      |
| MIDWEST CONNECTOR CAPIT                       | Midwest Connector Capital Co LLC                                   | CUSIP: 59833CAC6<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10047.10     | 0.46%             | 2029-04-01      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivables Trust         | OneMain Direct Auto Receivables Trust 2019-1                       | CUSIP: 68267EAA2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     17751 | PA      | $17736.85     | 0.81%             | 2027-09-14      | Fixed         | 3.63%                 | No            |                  2 | On Loan: No      |
| Flagship Credit Auto Trust                    | Flagship Credit Auto Trust 2020-3                                  | CUSIP: 33844TAG2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      1068 | PA      | $1066.12      | 0.05%             | 2026-09-15      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| GCAT                                          | GCAT 2024-INV4 Trust                                               | CUSIP: 367919AB3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     17518 | PA      | $17578.23     | 0.80%             | 2054-12-25      | Variable      | 5.50%                 | No            |                  2 | On Loan: No      |
| LINEAGE OP LP                                 | Lineage OP LP                                                      | CUSIP: 53567YAA7<br>LEI: 254900CSRDL1G4SRQE89 | Long             | DBT              |  | US        |     17000 | PA      | $17225.76     | 0.78%             | 2030-07-15      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| KEYSPAN GAS EAST CORP                         | KeySpan Gas East Corp                                              | CUSIP: 49338CAD5<br>LEI: K8TS3HOE1568DUBUJL44 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10592.70     | 0.48%             | 2033-03-06      | Fixed         | 5.99%                 | No            |                  2 | On Loan: No      |
| UL SOLUTIONS INC                              | UL Solutions Inc                                                   | CUSIP: 903731AC1<br>LEI: 549300F7CUV5ESKV9P71 | Long             | DBT              | CORP              | US        |     20000 | PA      | $21032.20     | 0.96%             | 2028-10-20      | Fixed         | 6.50%                 | No            |                  2 | On Loan: No      |
| MMAF Equipment Finance LLC                    | MMAF Equipment Finance LLC 2023-A                                  | CUSIP: 55317WAC5<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     15000 | PA      | $15272.52     | 0.69%             | 2029-12-13      | Fixed         | 5.54%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust               | Prestige Auto Receivables Trust 2023-1                             | CUSIP: 74113GAL7<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     11000 | PA      | $11123.26     | 0.51%             | 2029-04-16      | Fixed         | 6.33%                 | No            |                  2 | On Loan: No      |
| CHEVRON PHILLIPS CHEM CO                      | Chevron Phillips Chemical Co LLC / Chevron Phillips Chemical Co LP | CUSIP: 166754AX9<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $10174.90     | 0.46%             | 2030-05-15      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| COREBRIDGE GLOB FUNDING                       | Corebridge Global Funding                                          | CUSIP: 00138CAU2<br>LEI: 54930057MDZ7KOVOTV71 | Long             | DBT              | CORP              | US        |     12000 | PA      | $12138.24     | 0.55%             | 2026-07-02      | Fixed         | 5.75%                 | No            |                  2 | On Loan: No      |
| AES CORP/THE                                  | AES Corp/The                                                       | CUSIP: 00130HCE3<br>LEI: 2NUNNB7D43COUIRE5295 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9906.00      | 0.45%             | 2026-01-15      | Fixed         | 1.38%                 | No            |                  2 | On Loan: No      |
| First Investors Auto Owner Trust              | First Investors Auto Owner Trust 2022-1                            | CUSIP: 32057KAC4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     14160 | PA      | $14108.50     | 0.64%             | 2028-05-15      | Fixed         | 3.13%                 | No            |                  2 | On Loan: No      |
| NLG GLOBAL FUNDING                            | NLG Global Funding                                                 | CUSIP: 62915W2A0<br>LEI: 635400SKBQOWEJZLTW68 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10367.70     | 0.47%             | 2030-01-23      | Fixed         | 5.40%                 | No            |                  2 | On Loan: No      |
| WESTERN-SOUTHERN GLOBAL                       | Western-Southern Global Funding                                    | CUSIP: 95954A2A0<br>LEI: 635400PFYEGVSGK4VB37 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10228.60     | 0.47%             | 2030-05-01      | Fixed         | 4.90%                 | No            |                  2 | On Loan: No      |
| SBNA Auto Receivables Trust                   | SBNA Auto Receivables Trust 2025-SF1                               | CUSIP: 78437XAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12237 | PA      | $12255.22     | 0.56%             | 2031-03-17      | Fixed         | 5.12%                 | No            |                  2 | On Loan: No      |
| NORTHWESTERN CORP                             | NorthWestern Corp                                                  | CUSIP: 66807TAA0<br>LEI: 3BPWMBHR1R9SHUN7J795 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20472.00     | 0.93%             | 2030-03-21      | Fixed         | 5.07%                 | No            |                  2 | On Loan: No      |
| Fannie Mae                                    | Fannie Mae REMICS                                                  | CUSIP: 3136B5TS4<br>LEI: B1V7KEBTPIMZEU4LTD58 | Long             | ABS-MBS          | USGSE             | US        |      6279 | PA      | $5955.98      | 0.27%             | 2053-03-25      | Fixed         | 2.50%                 | No            |                  2 | On Loan: No      |
| Prestige Auto Receivables Trust               | Prestige Auto Receivables Trust 2023-2                             | CUSIP: 74113VAE0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     12885 | PA      | $12940.73     | 0.59%             | 2027-12-15      | Fixed         | 6.64%                 | No            |                  2 | On Loan: No      |
| Flagstar Mortgage Trust                       | Flagstar Mortgage Trust 2017-2                                     | CUSIP: 33850RAC6<br>LEI: 549300H3PON1KOB2RF56 | Long             | ABS-MBS          | CORP              | US        |     29343 | PA      | $26612.27     | 1.21%             | 2047-10-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| Verus Securitization Trust                    | Verus Securitization Trust 2021-1                                  | CUSIP: 92537QAE1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     22877 | PA      | $20304.55     | 0.92%             | 2066-01-25      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| SFO Commerical Mortgage Trust                 | SFO Commercial Mortgage Trust 2021-555                             | CUSIP: 78432WAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10000 | PA      | $9915.03      | 0.45%             | 2038-05-15      | Floating      | 5.41%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                    | Navient Student Loan Trust 2018-EA                                 | CUSIP: 63890BAB2<br>LEI: 549300761SV59SBM0Z40 | Long             | ABS-O            | CORP              | US        |     12974 | PA      | $12945.43     | 0.59%             | 2059-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| NY STATE ELECTRIC & GAS                       | New York State Electric & Gas Corp                                 | CUSIP: 649840CQ6<br>LEI: 549300GEC6J0YHUXA160 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9871.30      | 0.45%             | 2026-12-01      | Fixed         | 3.25%                 | No            |                  2 | On Loan: No      |
| RGA GLOBAL FUNDING                            | RGA Global Funding                                                 | CUSIP: 76209PAD5<br>LEI: 549300Y22K5FOEBMSK42 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10437.80     | 0.47%             | 2031-01-11      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| Mill City Mortgage Trust                      | Mill City Mortgage Loan Trust 2018-1                               | CUSIP: 59980VAA9<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     28435 | PA      | $28202.65     | 1.28%             | 2062-05-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| ALLIANT ENERGY FINANCE                        | Alliant Energy Finance LLC                                         | CUSIP: 01882YAC0<br>LEI: 54930033ER6EOI5DL570 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9852.30      | 0.45%             | 2026-03-15      | Fixed         | 1.40%                 | No            |                  2 | On Loan: No      |
| Arroyo Mortgage Trust                         | Arroyo Mortgage Trust 2019-3                                       | CUSIP: 04285AAA3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     11934 | PA      | $11416.41     | 0.52%             | 2048-10-25      | Variable      | 2.96%                 | No            |                  2 | On Loan: No      |
| OSCAR US Funding Trust                        | Oscar US Funding XVII LLC                                          | CUSIP: 68784BAB0<br>LEI: 353800UI8625NXT7ND41 | Long             | ABS-O            | CORP              | US        |     13201 | PA      | $13215.83     | 0.60%             | 2027-12-10      | Fixed         | 4.63%                 | No            |                  2 | On Loan: No      |
| Electricite de France SA                      | Electricite de France SA                                           | CUSIP: 268317AP9<br>LEI: 549300X3UK4GG3FNMO06 | Long             | DBT              | CORP              | FR        |     15000 | PA      | $14824.80     | 0.67%             | 2035-10-13      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| F&G GLOBAL FUNDING                            | F&G Global Funding                                                 | CUSIP: 30321L2D3<br>LEI: 6354009CCUKJIZ7KFX73 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9705.00      | 0.44%             | 2027-04-11      | Fixed         | 2.30%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust         | Westlake Automobile Receivables Trust 2023-2                       | CUSIP: 959926AE6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10772 | PA      | $10783.34     | 0.49%             | 2028-03-15      | Fixed         | 6.14%                 | No            |                  2 | On Loan: No      |
| AMCOR FLEXIBLES NORTH AM                      | Amcor Flexibles North America Inc                                  | CUSIP: 02344AAG3<br>LEI: PTVU09TE3QPJPL7K4E13 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20466.20     | 0.93%             | 2030-03-17      | Fixed         | 5.10%                 | No            |                  2 | On Loan: No      |
| PUGET ENERGY INC                              | Puget Energy Inc                                                   | CUSIP: 745310AQ5<br>LEI: SYBSJ96YIDMIUY7WDR33 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10302.10     | 0.47%             | 2035-03-15      | Fixed         | 5.73%                 | No            |                  2 | On Loan: No      |
| RELIANCE STAND LIFE II                        | Reliance Standard Life Global Funding II                           | CUSIP: 75951AAQ1<br>LEI: N/A                  | Long             | DBT              | CORP              | US        |     10000 | PA      | $9733.90      | 0.44%             | 2026-09-28      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| DAVINCIRE HOLDINGS LTD                        | DaVinciRe Holdings Ltd                                             | CUSIP: 23879AAA5<br>LEI: N/A                  | Long             | DBT              | CORP              | BM        |     10000 | PA      | $10297.80     | 0.47%             | 2035-04-15      | Fixed         | 5.95%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                | Carvana Auto Receivables Trust 2023-P2                             | CUSIP: 14686TAC2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      9019 | PA      | $9053.98      | 0.41%             | 2028-04-10      | Fixed         | 5.42%                 | No            |                  2 | On Loan: No      |
| Navient Student Loan Trust                    | Navient Private Education Refi Loan Trust 2019-A                   | CUSIP: 63941BAB1<br>LEI: 549300ZUZB9UCBWEBN39 | Long             | ABS-O            | CORP              | US        |     13166 | PA      | $13094.91     | 0.60%             | 2043-01-15      | Fixed         | 3.42%                 | No            |                  2 | On Loan: No      |
| ENERGY TRANSFER LP                            | Energy Transfer LP                                                 | CUSIP: 226373AQ1<br>LEI: MTLVN9N7JE8MIBIJ1H73 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10002.20     | 0.45%             | 2027-05-01      | Fixed         | 5.63%                 | No            |                  2 | On Loan: No      |
| Onslow Bay Financial LLC                      | OBX 2020-EXP2 Trust                                                | CUSIP: 67448VAG5<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19592 | PA      | $16730.51     | 0.76%             | 2060-05-25      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| Carvana Auto Receivables Trust                | Carvana Auto Receivables Trust 2024-N2                             | CUSIP: 14687VAB8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      2557 | PA      | $2559.73      | 0.12%             | 2027-08-10      | Fixed         | 5.90%                 | No            |                  2 | On Loan: No      |
| Westlake Automobile Receivables Trust         | Westlake Automobile Receivables Trust 2023-3                       | CUSIP: 96041CAJ1<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10000 | PA      | $10047.73     | 0.46%             | 2028-09-15      | Fixed         | 5.92%                 | No            |                  2 | On Loan: No      |
| Winwater Mortgage Loan Trust                  | WinWater Mortgage Loan Trust 2014-2                                | CUSIP: 97652QAC3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      9692 | PA      | $9175.54      | 0.42%             | 2044-09-20      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| FIRSTENERGY PENN ELECTRI                      | FirstEnergy Pennsylvania Electric Co                               | CUSIP: 591894CE8<br>LEI: O1PLQWO3TX952VMBJ146 | Long             | DBT              | CORP              | US        |     20000 | PA      | $20440.60     | 0.93%             | 2028-04-01      | Fixed         | 5.20%                 | No            |                  2 | On Loan: No      |
| Wells Fargo Mortgage Backed Securities Trust  | Wells Fargo Mortgage Backed Securities 2019-2 Trust                | CUSIP: 95002JAA4<br>LEI: 549300EZH20KSD9JD814 | Long             | ABS-MBS          | CORP              | US        |      4172 | PA      | $3962.03      | 0.18%             | 2049-04-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| Cox Communications Inc                        | Cox Communications Inc                                             | CUSIP: 224044CG0<br>LEI: 5493001NEDZNIFRP2R92 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14887.80     | 0.68%             | 2026-09-15      | Fixed         | 3.35%                 | No            |                  2 | On Loan: No      |
| Enterprise Fleet Financing LLC                | Enterprise Fleet Financing 2023-1 LLC                              | CUSIP: 29375CAB5<br>LEI: RKWYUSIDZTWNAX1D9U96 | Long             | ABS-O            | CORP              | US        |     10633 | PA      | $10662.46     | 0.48%             | 2029-01-22      | Fixed         | 5.51%                 | No            |                  2 | On Loan: No      |
| Credit Suisse Mortgage Trust                  | CSMC 2019-RPL1 Trust                                               | CUSIP: 12596MAB2<br>LEI: 549300818AKCJ4Q9TD76 | Long             | ABS-MBS          | CORP              | US        |     17526 | PA      | $17248.29     | 0.78%             | 2058-07-25      | Variable      | 3.65%                 | No            |                  2 | On Loan: No      |
| JP Morgan Mortgage Trust                      | JP Morgan Mortgage Trust 2017-2                                    | CUSIP: 46648HAN3<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     21503 | PA      | $19364.59     | 0.88%             | 2047-05-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| MOLEX ELECTRONICS TECH                        | Molex Electronic Technologies LLC                                  | CUSIP: 60856BAE4<br>LEI: 549300WTBVUFUPSIWI20 | Long             | DBT              | CORP              | US        |     15000 | PA      | $15143.10     | 0.69%             | 2028-04-30      | Fixed         | 4.75%                 | No            |                  2 | On Loan: No      |
| OSCAR US Funding Trust                        | Oscar US Funding XIV LLC                                           | CUSIP: 68784HAD3<br>LEI: 353800FUC565GTX73583 | Long             | ABS-O            | CORP              | JP        |     13046 | PA      | $12919.10     | 0.59%             | 2029-04-10      | Fixed         | 2.82%                 | No            |                  2 | On Loan: No      |
| First Investors Auto Owner Trust              | First Investors Auto Owner Trust 2022-1                            | CUSIP: 32057KAD2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |     10000 | PA      | $9927.44      | 0.45%             | 2028-06-15      | Fixed         | 3.79%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                      | FHF Issuer Trust 2024-3                                            | CUSIP: 30339EAB4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7662 | PA      | $7652.54      | 0.35%             | 2030-11-15      | Fixed         | 4.94%                 | No            |                  2 | On Loan: No      |
| MSCI INC                                      | MSCI Inc                                                           | CUSIP: 55354GAH3<br>LEI: 549300HTIN2PD78UB763 | Long             | DBT              | CORP              | US        |     15000 | PA      | $14664.75     | 0.67%             | 2029-11-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| COMM Mortgage Trust                           | COMM 2024-277P Mortgage Trust                                      | CUSIP: 12654FAA8<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     15000 | PA      | $15805.97     | 0.72%             | 2044-08-10      | Fixed         | 6.34%                 | No            |                  2 | On Loan: No      |
| BOOZ ALLEN HAMILTON INC                       | Booz Allen Hamilton Inc                                            | CUSIP: 09951LAA1<br>LEI: 549300D7XCH2480XU542 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9804.30      | 0.45%             | 2028-09-01      | Fixed         | 3.88%                 | No            |                  2 | On Loan: No      |
| American Credit Acceptance Receivables Trust  | American Credit Acceptance Receivables Trust 2023-1                | CUSIP: 02530UAE8<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      6839 | PA      | $6841.19      | 0.31%             | 2029-04-12      | Fixed         | 5.59%                 | No            |                  2 | On Loan: No      |
| PACIFIC LIFE GF II                            | Pacific Life Global Funding II                                     | CUSIP: 6944PL2G3<br>LEI: 6354003EUPCHXTWUU869 | Long             | DBT              | CORP              | US        |     10000 | PA      | $10015.80     | 0.46%             | 2026-06-04      | Floating      | 4.82%                 | No            |                  2 | On Loan: No      |
| Tesla Sustainable Energy Trust                | Tesla Sustainable Energy Trust 2024-1                              | CUSIP: 88164AAB0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      8698 | PA      | $8810.58      | 0.40%             | 2050-06-21      | Fixed         | 5.08%                 | No            |                  2 | On Loan: No      |
| INTACT FINANCIAL CORP                         | Intact Financial Corp                                              | CUSIP: 45823TAL0<br>LEI: 5493009LXGE7Y4U9OY43 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $15470.40     | 0.70%             | 2032-09-22      | Fixed         | 5.46%                 | No            |                  2 | On Loan: No      |
| COLT Funding LLC                              | COLT 2020-3 Mortgage Loan Trust                                    | CUSIP: 12597QAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10088 | PA      | $9939.91      | 0.45%             | 2065-04-27      | Variable      | 1.51%                 | No            |                  2 | On Loan: No      |
| Towd Point Mortgage Trust                     | Towd Point Mortgage Trust 2018-2                                   | CUSIP: 89175VAA1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |      8782 | PA      | $8662.01      | 0.39%             | 2058-03-25      | Variable      | 3.25%                 | No            |                  2 | On Loan: No      |
| CCL INDUSTRIES INC                            | CCL Industries Inc                                                 | CUSIP: 124900AD3<br>LEI: 549300TD3EMSRRC0YH75 | Long             | DBT              | CORP              | CA        |     15000 | PA      | $14101.65     | 0.64%             | 2030-06-01      | Fixed         | 3.05%                 | No            |                  2 | On Loan: No      |
| GRAPHIC PACKAGING INTERN                      | Graphic Packaging International LLC                                | CUSIP: 38869PAP9<br>LEI: SO75N4VY5NXGQSK8YQ65 | Long             | DBT              | CORP              | US        |     10000 | PA      | $9835.10      | 0.45%             | 2026-04-15      | Fixed         | 1.51%                 | No            |                  2 | On Loan: No      |
| New Residential Mortgage Loan Trust           | New Residential Mortgage Loan Trust 2018-RPL1                      | CUSIP: 64829VAA4<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     19004 | PA      | $18535.44     | 0.84%             | 2057-12-25      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| OneMain Direct Auto Receivables Trust         | OneMain Direct Auto Receivables Trust 2021-1                       | CUSIP: 682687AA6<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      3969 | PA      | $3960.41      | 0.18%             | 2028-07-14      | Fixed         | 0.87%                 | No            |                  2 | On Loan: No      |
| GLS Auto Receivables Trust                    | GLS Auto Receivables Issuer Trust 2021-2                           | CUSIP: 36261XAG0<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      7630 | PA      | $7590.41      | 0.35%             | 2027-04-15      | Fixed         | 1.42%                 | No            |                  2 | On Loan: No      |
| SMB Private Education Loan Trust              | SMB Private Education Loan Trust 2019-A                            | CUSIP: 78449TAB7<br>LEI: 549300WEYOS38NWU8D22 | Long             | ABS-O            | CORP              | US        |     17277 | PA      | $17101.11     | 0.78%             | 2036-07-15      | Fixed         | 3.44%                 | No            |                  2 | On Loan: No      |
| First Help Financial LLC                      | FHF Issuer Trust 2024-1                                            | CUSIP: 31568AAB2<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5428 | PA      | $5481.36      | 0.25%             | 2030-02-15      | Fixed         | 5.69%                 | No            |                  2 | On Loan: No      |
| ELEMENT FLEET MANAGEMENT                      | Element Fleet Management Corp                                      | CUSIP: 286181AK8<br>LEI: 5493000PGBS1C22ELQ16 | Long             | DBT              | CORP              | CA        |     10000 | PA      | $10588.50     | 0.48%             | 2028-12-04      | Fixed         | 6.32%                 | No            |                  2 | On Loan: No      |
| Upstart Pass Through Trust                    | Upstart Pass-Through Trust Series 2021-ST4                         | CUSIP: 91534HAA4<br>LEI: N/A                  | Long             | ABS-O            | CORP              | US        |      5107 | PA      | $5094.10      | 0.23%             | 2027-07-20      | Fixed         | 2.00%                 | No            |                  2 | On Loan: No      |
| Sequoia Mortgage Trust                        | Sequoia Mortgage Trust 2017-CH2                                    | CUSIP: 81746JAU1<br>LEI: N/A                  | Long             | ABS-MBS          | CORP              | US        |     10062 | PA      | $9300.45      | 0.42%             | 2047-12-25      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-10-17

**Name of Applicant:** THORNBURG INVESTMENT TRUST

**Signature:** Christopher Luckham

**Name of Signer:** Christopher Luckham

**Title:** Manager - Fund Admin