# EDGAR Filing Document

**Accession Number:** 0000816153
**File Stem:** 0001410368-26-015733
**Filing Date:** 2026-2
**Character Count:** 111840
**Document Hash:** d27aa17e249d5b2a8e95ce7f3b3820b7
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001410368-26-015733.hdr.sgml**: 20260220

**ACCESSION NUMBER**: 0001410368-26-015733

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260220

**DATE AS OF CHANGE**: 20260220

**PERIOD START**: 20260930

**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:** 26659408

**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 Capital Management Fund (Series ID: S000051223)

| Class ID   | Class Name                                  | Ticker Symbol   |
|:---|:---|:---|
| C000161463 | Thornburg Capital Management Fund - Class I |  |

## Nport-Ex

SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg Capital Management Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Shares/Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
|  | **Commercial Paper — 96.1%** |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;AbbVie, Inc., 3.861% due 1/21/2026 | &nbsp;&nbsp;$75000000 | &nbsp;&nbsp;$74849583 |
|  | &nbsp;&nbsp;&nbsp;Agree LP, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.197% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13995193 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.973% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 8000000 | &nbsp;&nbsp;&nbsp;&nbsp; 7997393 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.983% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 999673 |
|  | &nbsp;&nbsp;&nbsp;Alimentation Couche-Tard, Inc., |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.217% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;31000000 | &nbsp;&nbsp;&nbsp;&nbsp; 30964436 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.225% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4997694 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.183% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2997945 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.07% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 999222 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.172% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10991231 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.997% due 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15979040 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.182% due 1/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2300000 | &nbsp;&nbsp;&nbsp;&nbsp; 2295285 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.99% due 1/23/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4988567 |
|  | &nbsp;&nbsp;&nbsp;American Honda Finance Corp., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.227% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;54550000 | &nbsp;&nbsp;&nbsp;&nbsp; 54524907 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.202% due 2/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 525000 | &nbsp;&nbsp;&nbsp;&nbsp; 522543 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.185% due 2/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp;22000000 | &nbsp;&nbsp;&nbsp;&nbsp; 21917317 |
|  | &nbsp;&nbsp;&nbsp;American Transmission Co. LLC, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.134% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2997632 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.885% due 1/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 49867361 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.877% due 2/3/2026 | &nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10962747 |
|  | &nbsp;&nbsp;&nbsp;Arizona Public Service Co., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.813% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp; 30000000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.835% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 7000000 | &nbsp;&nbsp;&nbsp;&nbsp; 6994855 |
|  | &nbsp;&nbsp;&nbsp;AutoZone, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.803% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;46000000 | &nbsp;&nbsp;&nbsp;&nbsp; 46000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.785% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 800000 | &nbsp;&nbsp;&nbsp;&nbsp; 799503 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.785% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;45000000 | &nbsp;&nbsp;&nbsp;&nbsp; 44967362 |
|  | &nbsp;&nbsp;&nbsp;Avangrid, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.968% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11987000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.03% due 2/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 291000 | &nbsp;&nbsp;&nbsp;&nbsp; 289723 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.19% due 2/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248861 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.897% due 3/19/2026 | &nbsp;&nbsp;&nbsp;&nbsp;62000000 | &nbsp;&nbsp;&nbsp;&nbsp; 61501313 |
|  | &nbsp;&nbsp;&nbsp;Avery Dennison Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.804% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1499531 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.901% due 1/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2244016 |
|  | &nbsp;&nbsp;&nbsp;Bell Telephone Co. of Canada or Bell Canada, |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.215% due 1/21/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19956406 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.96% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2999025 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.984% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1998693 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.998% due 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 998581 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.969% due 1/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;19000000 | &nbsp;&nbsp;&nbsp;&nbsp; 18962950 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.036% due 2/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 587000 | &nbsp;&nbsp;&nbsp;&nbsp; 583458 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.223% due 3/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;13525000 | &nbsp;&nbsp;&nbsp;&nbsp; 13433676 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.223% due 3/3/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3972533 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.033% due 3/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248327 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Broadcom, Inc., 3.811% due 1/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1995833 |
|  | &nbsp;&nbsp;&nbsp;Canadian Pacific Railway Co., |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.174% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp; 17993850 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.961% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249865 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.166% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp;&nbsp; 1199318 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.073% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;36000000 | &nbsp;&nbsp;&nbsp;&nbsp; 35960000 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.91% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19970056 |
|  | &nbsp;&nbsp;&nbsp;CenterPoint Energy Resources Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.08% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 12495823 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.09% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12500000 | &nbsp;&nbsp;&nbsp;&nbsp; 12495813 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.099% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;15000000 | &nbsp;&nbsp;&nbsp;&nbsp; 14994962 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.839% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;23000000 | &nbsp;&nbsp;&nbsp;&nbsp; 22990340 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.807% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11987500 |
|  | &nbsp;&nbsp;&nbsp;Chevron Phillips Chemical Co. LLC, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.069% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 999444 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.053% due 2/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1300000 | &nbsp;&nbsp;&nbsp;&nbsp; 1294409 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.972% due 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp;26000000 | &nbsp;&nbsp;&nbsp;&nbsp; 25789833 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Capital Management Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Shares/Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
|  | &nbsp;&nbsp;&nbsp;Cintas Corp. No. 2, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.128% due 1/6/2026 | &nbsp;&nbsp;$40000000 | &nbsp;&nbsp;$39982000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.784% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;26000000 | &nbsp;&nbsp;&nbsp;&nbsp; 25991918 |
|  | &nbsp;&nbsp;&nbsp;Clorox Co., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.177% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;23500000 | &nbsp;&nbsp;&nbsp;&nbsp; 23491971 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.144% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1998869 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.126% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19984250 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.908% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp;&nbsp; 849091 |
|  | &nbsp;&nbsp;&nbsp;Darden Restaurants, Inc., 4.013% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;76177000 | &nbsp;&nbsp;&nbsp;&nbsp; 76151925 |
|  | &nbsp;&nbsp;&nbsp;Delmarva Power & Light Co., 3.963% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4008000 | &nbsp;&nbsp;&nbsp;&nbsp; 4006697 |
|  | &nbsp;&nbsp;&nbsp;Dominion Energy South Carolina, Inc., 4.194% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;55000000 | &nbsp;&nbsp;&nbsp;&nbsp; 54981117 |
|  | &nbsp;&nbsp;&nbsp;DTE Electric Co., 3.892% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp;&nbsp; 399404 |
|  | &nbsp;&nbsp;&nbsp;Duke Energy Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.097% due 1/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 49855556 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.097% due 1/29/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19940000 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Electricite de France SA, 3.948% due 2/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9950550 |
|  | &nbsp;&nbsp;&nbsp;Enbridge U.S., Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.108% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp; 25000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.018% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 49961597 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Entergy Corp., 4.20% due 3/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;45000000 | &nbsp;&nbsp;&nbsp;&nbsp; 44697625 |
|  | &nbsp;&nbsp;&nbsp;Equifax, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.207% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp; 24971389 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.803% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 |
|  | &nbsp;&nbsp;&nbsp;EssilorLuxottica SA, |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.778% due 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2150000 | &nbsp;&nbsp;&nbsp;&nbsp; 2147112 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.816% due 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2900000 | &nbsp;&nbsp;&nbsp;&nbsp; 2892750 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Evergy Kansas Central, Inc., 4.252% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19976833 |
|  | &nbsp;&nbsp;&nbsp;Evergy Metro, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.908% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4538000 | &nbsp;&nbsp;&nbsp;&nbsp; 4536059 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.919% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;15462000 | &nbsp;&nbsp;&nbsp;&nbsp; 15455369 |
|  | &nbsp;&nbsp;&nbsp;Eversource Energy, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.993% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp;&nbsp; 749754 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.223% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19993083 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.944% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;14000000 | &nbsp;&nbsp;&nbsp;&nbsp; 13990947 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.022% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 350000 | &nbsp;&nbsp;&nbsp;&nbsp; 349731 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.984% due 1/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp;&nbsp; 1498203 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.936% due 1/27/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2991938 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.938% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;35000000 | &nbsp;&nbsp;&nbsp;&nbsp; 34883362 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Fiserv, Inc., 3.854% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;43000000 | &nbsp;&nbsp;&nbsp;&nbsp; 43000000 |
|  | &nbsp;&nbsp;&nbsp;Honeywell International, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.012% due 2/4/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1854000 | &nbsp;&nbsp;&nbsp;&nbsp; 1847321 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.044% due 3/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2616000 | &nbsp;&nbsp;&nbsp;&nbsp; 2599065 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.924% due 3/18/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3391000 | &nbsp;&nbsp;&nbsp;&nbsp; 3363943 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.948% due 3/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9750000 | &nbsp;&nbsp;&nbsp;&nbsp; 9663455 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;HP, Inc., 3.867% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp; 74920625 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Imperial Brands Finance plc, 3.998% due 1/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;74500000 | &nbsp;&nbsp;&nbsp;&nbsp; 74272278 |
|  | &nbsp;&nbsp;&nbsp;Intercontinental Exchange, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.899% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2996800 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.933% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;71000000 | &nbsp;&nbsp;&nbsp;&nbsp; 70923675 |
|  | &nbsp;&nbsp;&nbsp;ITC Holdings Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.168% due 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;16000000 | &nbsp;&nbsp;&nbsp;&nbsp; 15956587 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18% due 2/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;31000000 | &nbsp;&nbsp;&nbsp;&nbsp; 30866493 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.18% due 3/10/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3500000 | &nbsp;&nbsp;&nbsp;&nbsp; 3473423 |
|  | &nbsp;&nbsp;&nbsp;J.M. Smucker Co., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.909% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 510000 | &nbsp;&nbsp;&nbsp;&nbsp; 509782 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.122% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1809000 | &nbsp;&nbsp;&nbsp;&nbsp; 1808186 |
|  | &nbsp;&nbsp;&nbsp;Keurig Dr. Pepper, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.356% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp;22000000 | &nbsp;&nbsp;&nbsp;&nbsp; 21963468 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.804% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249922 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.964% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 999458 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.967% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;50000000 | &nbsp;&nbsp;&nbsp;&nbsp; 49967500 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.121% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 950000 | &nbsp;&nbsp;&nbsp;&nbsp; 949252 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.858% due 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 998733 |
|  | &nbsp;&nbsp;&nbsp;Komatsu Finance America, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.832% due 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp;&nbsp; 2246937 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Capital Management Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Shares/Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.832% due 1/16/2026 | &nbsp;&nbsp;$3000000 | &nbsp;&nbsp;$2995602 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.863% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499261 |
|  | &nbsp;&nbsp;&nbsp;Marriott International, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.099% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;17000000 | &nbsp;&nbsp;&nbsp;&nbsp; 17000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.858% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3000000 | &nbsp;&nbsp;&nbsp;&nbsp; 2996833 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.083% due 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1997327 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;McCormick & Co., Inc., 3.916% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;75000000 | &nbsp;&nbsp;&nbsp;&nbsp; 74751354 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;Medtronic Global Holdings SCA, 3.859% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;53525000 | &nbsp;&nbsp;&nbsp;&nbsp; 53496751 |
|  | &nbsp;&nbsp;&nbsp;Mitsubishi HC Finance America LLC, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.166% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12097000 | &nbsp;&nbsp;&nbsp;&nbsp; 12092887 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.173% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9996592 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.183% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3998633 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.177% due 1/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12994000 | &nbsp;&nbsp;&nbsp;&nbsp; 12967427 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.068% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499444 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.967% due 1/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 330000 | &nbsp;&nbsp;&nbsp;&nbsp; 329357 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.077% due 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4260000 | &nbsp;&nbsp;&nbsp;&nbsp; 4248640 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Mohawk Industries, Inc., 3.815% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp; 17988720 |
|  | &nbsp;&nbsp;&nbsp;Mondelez International, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.082% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;34300000 | &nbsp;&nbsp;&nbsp;&nbsp; 34181856 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.103% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12475000 | &nbsp;&nbsp;&nbsp;&nbsp; 12431816 |
|  | &nbsp;&nbsp;&nbsp;Northern Illinois Gas Co., |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.826% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11993717 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.87% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19987300 |
|  | &nbsp;&nbsp;&nbsp;Oglethorpe Power Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.153% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 3007000 | &nbsp;&nbsp;&nbsp;&nbsp; 3005637 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.153% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;17450000 | &nbsp;&nbsp;&nbsp;&nbsp; 17440112 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.015% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp;&nbsp; 299803 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.153% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6789000 | &nbsp;&nbsp;&nbsp;&nbsp; 6784383 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.858% due 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 315000 | &nbsp;&nbsp;&nbsp;&nbsp; 314601 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.987% due 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 6320000 | &nbsp;&nbsp;&nbsp;&nbsp; 6311742 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.987% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp;&nbsp; 3993902 |
|  | &nbsp;&nbsp;&nbsp;ONE Gas, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.875% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;11000000 | &nbsp;&nbsp;&nbsp;&nbsp; 10996498 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.94% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;11600000 | &nbsp;&nbsp;&nbsp;&nbsp; 11591248 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.953% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12300000 | &nbsp;&nbsp;&nbsp;&nbsp; 12286709 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.919% due 1/14/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20000000 | &nbsp;&nbsp;&nbsp;&nbsp; 19974267 |
|  | &nbsp;&nbsp;&nbsp;Oracle Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.184% due 1/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1020000 | &nbsp;&nbsp;&nbsp;&nbsp; 1018722 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.157% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 4250000 | &nbsp;&nbsp;&nbsp;&nbsp; 4243257 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.178% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp;&nbsp; 499203 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.281% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249592 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.016% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;66576000 | &nbsp;&nbsp;&nbsp;&nbsp; 66350122 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.026% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 996599 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.125% due 3/11/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 992388 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.242% due 6/25/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; 980183 |
|  | &nbsp;&nbsp;&nbsp;Penske Truck Leasing Co. LP, |  |  |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.138% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9994375 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.145% due 1/22/2026 | &nbsp;&nbsp;&nbsp;&nbsp;45945000 | &nbsp;&nbsp;&nbsp;&nbsp; 45841624 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.197% due 2/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1991344 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.099% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 9000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9000000 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.128% due 1/20/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 770000 | &nbsp;&nbsp;&nbsp;&nbsp; 768441 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.192% due 2/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11942600 |
|  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.209% due 2/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248798 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;PPL Capital Funding, Inc., 4.194% due 1/12/2026 | &nbsp;&nbsp;&nbsp;&nbsp;57000000 | &nbsp;&nbsp;&nbsp;&nbsp; 56934925 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Public Service Co. of Colorado, 3.874% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;68000000 | &nbsp;&nbsp;&nbsp;&nbsp; 68000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Public Service Enterprise Group, Inc., 3.966% due 1/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 382000 | &nbsp;&nbsp;&nbsp;&nbsp; 381545 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Rockwell Automation, Inc., 3.867% due 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;18000000 | &nbsp;&nbsp;&nbsp;&nbsp; 17954400 |
|  | &nbsp;&nbsp;&nbsp;Ryder System, Inc., 3.96% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;30000000 | &nbsp;&nbsp;&nbsp;&nbsp; 29990250 |
|  | &nbsp;&nbsp;&nbsp;Sempra, |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.259% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp;28000000 | &nbsp;&nbsp;&nbsp;&nbsp; 27990247 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.259% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;25000000 | &nbsp;&nbsp;&nbsp;&nbsp; 24988389 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.886% due 1/6/2026 | &nbsp;&nbsp;&nbsp;&nbsp;21000000 | &nbsp;&nbsp;&nbsp;&nbsp; 20991063 |
|  | &nbsp;&nbsp;&nbsp;Sherwin-Williams Co., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.874% due 1/26/2026 | &nbsp;&nbsp;&nbsp;&nbsp;20500000 | &nbsp;&nbsp;&nbsp;&nbsp; 20447930 |

---

------

SCHEDULE OF INVESTMENTS, Continued

---

| | |
|:---|:---|
| **Thornburg Capital Management Fund** | *December 31, 2025 (Unaudited)* |

---

------

---

| | | | |
|:---|:---|:---|:---|
|  | **ISSUER-DESCRIPTION** | &nbsp;&nbsp;**Shares/Principal<br> Amount** | &nbsp;&nbsp;**VALUE** |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.813% due 1/27/2026 | &nbsp;&nbsp;$8000000 | &nbsp;&nbsp;$7979167 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.844% due 1/28/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp;&nbsp; 4986350 |
|  | &nbsp;&nbsp;&nbsp;Southern Co. Gas Capital Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.836% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12000000 | &nbsp;&nbsp;&nbsp;&nbsp; 11992440 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.836% due 1/9/2026 | &nbsp;&nbsp;&nbsp;&nbsp;14602000 | &nbsp;&nbsp;&nbsp;&nbsp; 14591268 |
|  | &nbsp;&nbsp;&nbsp;Spire, Inc., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.889% due 1/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;10000000 | &nbsp;&nbsp;&nbsp;&nbsp; 9988297 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.911% due 1/13/2026 | &nbsp;&nbsp;&nbsp;&nbsp;12300000 | &nbsp;&nbsp;&nbsp;&nbsp; 12285530 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.914% due 1/15/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1997219 |
|  | &nbsp;&nbsp;&nbsp;Sysco Corp., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.762% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;60000000 | &nbsp;&nbsp;&nbsp;&nbsp; 60000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.173% due 2/17/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 248697 |
|  | &nbsp;&nbsp;&nbsp;Telstra Group Ltd., |  |  |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;4.149% due 1/30/2026 | &nbsp;&nbsp;&nbsp;&nbsp;52000000 | &nbsp;&nbsp;&nbsp;&nbsp; 51836200 |
| **<sup>a,b</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.974% due 2/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;21000000 | &nbsp;&nbsp;&nbsp;&nbsp; 20929475 |
|  | &nbsp;&nbsp;&nbsp;Toyota Motor Credit Corp., 4.236% due 1/16/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 425000 | &nbsp;&nbsp;&nbsp;&nbsp; 424314 |
|  | &nbsp;&nbsp;&nbsp;Virginia Electric & Power Co., 4.142% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 250000 | &nbsp;&nbsp;&nbsp;&nbsp; 249915 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;Waste Management, Inc., 4.153% due 1/7/2026 | &nbsp;&nbsp;&nbsp;&nbsp;43000000 | &nbsp;&nbsp;&nbsp;&nbsp; 42975633 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;WEC Energy Group, Inc., 3.94% due 1/5/2026 | &nbsp;&nbsp;&nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp;&nbsp; 1999353 |
|  | &nbsp;&nbsp;&nbsp;Western Union Co., |  |  |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.803% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;27000000 | &nbsp;&nbsp;&nbsp;&nbsp; 27000000 |
| **<sup>a</sup>** | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3.813% due 1/2/2026 | &nbsp;&nbsp;&nbsp;&nbsp;22000000 | &nbsp;&nbsp;&nbsp;&nbsp; 22000000 |
|  | &nbsp;&nbsp;&nbsp;Williams Cos., Inc., 3.887% due 1/8/2026 | &nbsp;&nbsp;&nbsp;&nbsp;74200000 | &nbsp;&nbsp;&nbsp;&nbsp; 74152636 |
|  | &nbsp;&nbsp;&nbsp;Total Commercial Paper (Cost $2,945,091,541) |  | &nbsp;&nbsp;&nbsp;&nbsp;2945091541 |
|  | **Mutual Fund — 1.1%** |  |  |
| **<sup>c</sup>** | &nbsp;&nbsp;&nbsp;State Street Institutional Treasury Money Market Fund, Premier Class, 3.70%, | &nbsp;&nbsp;&nbsp;&nbsp;34293143 | &nbsp;&nbsp;&nbsp;&nbsp; 34293143 |
|  | &nbsp;&nbsp;&nbsp;Total Mutual Fund (Cost $34,293,143) |  | &nbsp;&nbsp;&nbsp;&nbsp; 34293143 |
|  | **Total Investments — 97.2% (Cost $2,979,384,684)** |  | &nbsp;&nbsp;$2979384684 |
|  | **Other Assets Less Liabilities — 2.8%** |  | &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;85051352 |
|  | **Net Assets — 100.0%** |  | &nbsp;&nbsp;$3064436036 |

---

---

| | |
|:---|:---|
| **Footnote Legend** | **Footnote Legend** |
| a | 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, 2025, the aggregate value of these securities in the Fund's portfolio was $2,434,874,482, representing 79.46% of the Fund's net assets. |
| b | Yankee bond denominated in U.S. dollars and is issued in the U.S. by foreign banks and corporations. |
| c | Rate represents the money market fund annualized seven-day yield at December 31, 2025. |

---

------

NOTES TO SCHEDULE OF INVESTMENTS

---

| | |
|:---|:---|
| **Thornburg Capital Management Fund** | *December 31, 2025 (Unaudited)* |

---

------

#### NOTE 1 – ORGANIZATION
Thornburg Capital Management 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-six separate series of the Trust. Each series is considered to be a separate entity for financial reporting and tax purposes. The Fund currently offers one class of shares of beneficial interest: 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 (the "Trustees") 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 under the supervision of the Trustees and in accordance with policies and procedures that have been adopted by the Advisor and approved by the Trustees (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>: Securities held with a maturity of less than 60 days from trade date and other short-term investments are valued using the amortized cost method unless the Committee determines such method does not represent fair value. The amortized cost method of valuation involves valuing a security at its cost initially and thereafter assuming a constant amortization to maturity of any discount or premium, regardless of the impact of fluctuating interest rates on the market value of the security. This method may result in periods during which value, as determined by amortized cost, is higher or lower than the price the Fund would receive if it sold the security. The market value of securities in the Fund can be expected to vary inversely with changes in prevailing interest rates.

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.

If the market quotation for an investment is expressed in a foreign currency, that market quotation will be converted to U.S. dollars using a foreign exchange quotation from a third-party service at the time of valuation. Foreign investments held by the Fund may be traded on days and at times when the Fund is not open for business. Consequently, the value of the Fund's investments may be significantly affected on days when shareholders cannot purchase or sell Fund's shares.

## 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 Capital Management Fund

- **b. EDGAR series identifier (if any):** S000051223

- **c. LEI of Series:** 549300GLR0WG6ALV5277

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

- **a. Date of fiscal year-end:** 2026-09-30

- **b. Date as of which information is reported:** 2025-12-31

**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:** $3064470706.86

**Total Liabilities:** $10866182.52

**Net Assets:** $3053604524.34

**Currency Risk Metrics (dv01):**

- 

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

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

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

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

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000161463 | 0.36%                | 0.34%                | 0.35%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $6752.56                 | $0.00                                      |
| Month 2  | $6614.85                 | $0.00                                      |
| Month 3  | $2867.24                 | $0.00                                      |

### 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   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| AbbVie Inc                                            | AbbVie Inc                                            | CUSIP: 00287CAM9<br>LEI: FR5LCKFTG8054YNNRU85 | Long             | STIV             | CORP              | US        |  75000000 | PA      | $74849583.33  | 2.45%             | 2026-01-21      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| AGREE LP                                              | Agree LP                                              | CUSIP: 00852XA55<br>LEI: 549300DXY3G299V1BO77 | Long             | STIV             |  | US        |   8000000 | PA      | $7997393.33   | 0.26%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AGREE LP                                              | Agree LP                                              | CUSIP: 00852XA55<br>LEI: 549300DXY3G299V1BO77 | Long             | STIV             |  | US        |   1000000 | PA      | $999673.33    | 0.03%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AGREE LP                                              | Agree LP                                              | CUSIP: 00852XA55<br>LEI: 549300DXY3G299V1BO77 | Long             | STIV             |  | US        |  14000000 | PA      | $13995193.33  | 0.46%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VA60<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |   5000000 | PA      | $4997694.44   | 0.16%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VA86<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |   3000000 | PA      | $2997945.00   | 0.10%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VA94<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |  11000000 | PA      | $10991230.56  | 0.36%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VA94<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |   1000000 | PA      | $999222.22    | 0.03%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VAC7<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |  31000000 | PA      | $30964436.11  | 1.01%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VAE3<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |  16000000 | PA      | $15979040.00  | 0.52%             | 2026-01-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VAL7<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |   2300000 | PA      | $2295285.00   | 0.08%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ALIMENTATION COUCHE-TARD                              | Alimentation Couche-Tard Inc                          | CUSIP: 01626VAP8<br>LEI: 549300OSW32RVX8CCZ87 | Long             | STIV             | CORP              | CA        |   5000000 | PA      | $4988566.66   | 0.16%             | 2026-01-23      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                | American Honda Finance Corp                           | CUSIP: 02665KA64<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | STIV             | CORP              | US        |  54550000 | PA      | $54524907.00  | 1.79%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                | American Honda Finance Corp                           | CUSIP: 02665KB48<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | STIV             | CORP              | US        |  22000000 | PA      | $21917316.67  | 0.72%             | 2026-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN HONDA FINANCE                                | American Honda Finance Corp                           | CUSIP: 02665KBC0<br>LEI: B6Q2VFHD1797Q7NZ3E43 | Long             | STIV             | CORP              | US        |    525000 | PA      | $522542.57    | 0.02%             | 2026-02-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN TRANSMISSION CO                              | American Transmission Co LLC                          | CUSIP: 03028UA96<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2997631.67   | 0.10%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN TRANSMISSION CO                              | American Transmission Co LLC                          | CUSIP: 03028UAT2<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49867361.11  | 1.63%             | 2026-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AMERICAN TRANSMISSION CO                              | American Transmission Co LLC                          | CUSIP: 03028UB38<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  11000000 | PA      | $10962746.67  | 0.36%             | 2026-02-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Arizona Public Service Co                             | Arizona Public Service Co                             | CUSIP: 04056BA26<br>LEI: YG6VT0TPHRH4TFVAQV64 | Long             | STIV             | CORP              | US        |  30000000 | PA      | $30000000.00  | 0.98%             | 2026-01-02      | Fixed         | 3.76%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                          | AutoZone Inc                                          | CUSIP: 05333UA26<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | STIV             | CORP              | US        |  46000000 | PA      | $46000000.00  | 1.51%             | 2026-01-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AUTOZONE INC                                          | AutoZone Inc                                          | CUSIP: 05333UA83<br>LEI: GA3JGKJ41LJKXDN23E90 | Long             | STIV             | CORP              | US        |    800000 | PA      | $799502.67    | 0.03%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AVANGRID INC                                          | Avangrid Inc                                          | CUSIP: 05353BAC1<br>LEI: 549300OX0Q38NLSKPB49 | Long             | STIV             | CORP              | US        |  12000000 | PA      | $11987000.00  | 0.39%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AVANGRID INC                                          | Avangrid Inc                                          | CUSIP: 05353BBB2<br>LEI: 549300OX0Q38NLSKPB49 | Long             | STIV             | CORP              | US        |    291000 | PA      | $289722.84    | 0.01%             | 2026-02-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AVANGRID INC                                          | Avangrid Inc                                          | CUSIP: 05353BBB2<br>LEI: 549300OX0Q38NLSKPB49 | Long             | STIV             | CORP              | US        |    250000 | PA      | $248861.11    | 0.01%             | 2026-02-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| AVANGRID INC                                          | Avangrid Inc                                          | CUSIP: 05353BCK1<br>LEI: 549300OX0Q38NLSKPB49 | Long             | STIV             | CORP              | US        |  62000000 | PA      | $61501313.34  | 2.01%             | 2026-03-19      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Avery Dennison Corp                                   | Avery Dennison Corp                                   | CUSIP: 05361MA52<br>LEI: 549300PW7VPFCYKLIV37 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1499531.25   | 0.05%             | 2026-01-05      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| AVERY DENNISON CORP                                   | Avery Dennison Corp                                   | CUSIP: 05361MAT0<br>LEI: 549300PW7VPFCYKLIV37 | Long             | STIV             | CORP              | US        |   2250000 | PA      | $2244015.63   | 0.07%             | 2026-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QA55<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | CA        |   3000000 | PA      | $2999025.00   | 0.10%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QA89<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1998693.33   | 0.07%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QAF3<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $998580.83    | 0.03%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QAL0<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | US        |  19000000 | PA      | $18962950.00  | 0.62%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QAM8<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | CA        |  20000000 | PA      | $19956405.55  | 0.65%             | 2026-01-21      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QBS4<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | CA        |    587000 | PA      | $583457.62    | 0.02%             | 2026-02-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QC20<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | CA        |  13525000 | PA      | $13433676.20  | 0.44%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| BELL CANADA                                           | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QC38<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | CA        |   4000000 | PA      | $3972533.33   | 0.13%             | 2026-03-03      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Bell Telephone Co of Canada or Bell Canada/The        | Bell Telephone Co of Canada or Bell Canada/The        | CUSIP: 07787QC46<br>LEI: 549300JYAVAQRV5MNZ86 | Long             | STIV             | CORP              | US        |    250000 | PA      | $248326.74    | 0.01%             | 2026-03-04      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| Broadcom Inc                                          | Broadcom Inc                                          | CUSIP: 11135NAN4<br>LEI: 549300WV6GIDOZJTV909 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1995833.34   | 0.07%             | 2026-01-22      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| CAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                           | CUSIP: 13645XA50<br>LEI: 54930036474DURYNB481 | Long             | STIV             | CORP              | CA        |  18000000 | PA      | $17993850.00  | 0.59%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                           | CUSIP: 13645XA76<br>LEI: 54930036474DURYNB481 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249864.58    | 0.01%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                           | CUSIP: 13645XA76<br>LEI: 54930036474DURYNB481 | Long             | STIV             | CORP              | CA        |   1200000 | PA      | $1199318.33   | 0.04%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CAN PACIFIC RAILWAY                                   | Canadian Pacific Railway Co                           | CUSIP: 13645XAC5<br>LEI: 54930036474DURYNB481 | Long             | STIV             | CORP              | US        |  36000000 | PA      | $35960000.00  | 1.18%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Canadian Pacific Railway Co                           | Canadian Pacific Railway Co                           | CUSIP: 13645XAG6<br>LEI: 54930036474DURYNB481 | Long             | STIV             | CORP              | CA        |  20000000 | PA      | $19970055.56  | 0.65%             | 2026-01-16      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RESOU                              | CenterPoint Energy Resources Corp                     | CUSIP: 15200LA58<br>LEI: 2JADVB0458J06WCD4N56 | Long             | STIV             | CORP              | US        |  12500000 | PA      | $12495822.92  | 0.41%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RESOU                              | CenterPoint Energy Resources Corp                     | CUSIP: 15200LA58<br>LEI: 2JADVB0458J06WCD4N56 | Long             | STIV             | CORP              | US        |  12500000 | PA      | $12495812.50  | 0.41%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RESOU                              | CenterPoint Energy Resources Corp                     | CUSIP: 15200LA58<br>LEI: 2JADVB0458J06WCD4N56 | Long             | STIV             | CORP              | US        |  15000000 | PA      | $14994962.50  | 0.49%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RESOU                              | CenterPoint Energy Resources Corp                     | CUSIP: 15200LA66<br>LEI: 2JADVB0458J06WCD4N56 | Long             | STIV             | CORP              | US        |  23000000 | PA      | $22990340.00  | 0.75%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CENTERPOINT ENERGY RESOU                              | CenterPoint Energy Resources Corp                     | CUSIP: 15200LAC3<br>LEI: 2JADVB0458J06WCD4N56 | Long             | STIV             | CORP              | US        |  12000000 | PA      | $11987500.00  | 0.39%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHEVRON PHILLIPS CHEM CO                              | Chevron Phillips Chemical Co LLC                      | CUSIP: 16677BA78<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1000000 | PA      | $999444.44    | 0.03%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHEVRON PHILLIPS CHEM CO                              | Chevron Phillips Chemical Co LLC                      | CUSIP: 16677BBA0<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |   1300000 | PA      | $1294408.92   | 0.04%             | 2026-02-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CHEVRON PHILLIPS CHEM CO                              | Chevron Phillips Chemical Co LLC                      | CUSIP: 16677BCJ0<br>LEI: N/A                  | Long             | STIV             | CORP              | US        |  26000000 | PA      | $25789833.33  | 0.84%             | 2026-03-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Cintas Corp No 2                                      | Cintas Corp No 2                                      | CUSIP: 1725E3A58<br>LEI: 549300QVUQTTKMTE0G41 | Long             | STIV             | CORP              | US        |  26000000 | PA      | $25991918.34  | 0.85%             | 2026-01-05      | Fixed         | 3.73%                 | No            |                  2 | On Loan: No      |
| CINTAS CORPORATION NO 2                               | Cintas Corp No 2                                      | CUSIP: 1725E3A66<br>LEI: 549300QVUQTTKMTE0G41 | Long             | STIV             | CORP              | US        |  40000000 | PA      | $39982000.00  | 1.31%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                                        | Clorox Co/The                                         | CUSIP: 18905MA58<br>LEI: 54930044KVSC06Z79I06 | Long             | STIV             | CORP              | US        |  23500000 | PA      | $23491970.83  | 0.77%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                                        | Clorox Co/The                                         | CUSIP: 18905MA74<br>LEI: 54930044KVSC06Z79I06 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1998869.46   | 0.07%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CLOROX COMPANY                                        | Clorox Co/The                                         | CUSIP: 18905MA90<br>LEI: 54930044KVSC06Z79I06 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $19984250.00  | 0.65%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Clorox Co/The                                         | Clorox Co/The                                         | CUSIP: 18905MAC3<br>LEI: 54930044KVSC06Z79I06 | Long             | STIV             | CORP              | US        |    850000 | PA      | $849090.98    | 0.03%             | 2026-01-12      | Fixed         | 3.85%                 | No            |                  2 | On Loan: No      |
| DTE ELECTRIC CO                                       | DTE Electric Co                                       | CUSIP: 23336KAG7<br>LEI: 9N0FWODEJVKHC2DYLO03 | Long             | STIV             | CORP              | US        |    400000 | PA      | $399404.22    | 0.01%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DARDEN RESTAURANTS                                    | Darden Restaurants Inc                                | CUSIP: 23719KA58<br>LEI: CY1NFSCCB5GUXC7WZC70 | Long             | STIV             | CORP              | US        |  76177000 | PA      | $76151925.07  | 2.49%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DELMARVA POWER & LIGHT                                | Delmarva Power & Light Co                             | CUSIP: 24710SA58<br>LEI: NJ98T8DDD027ZFXUDB24 | Long             | STIV             | CORP              | US        |   4008000 | PA      | $4006697.40   | 0.13%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DOMINION ENERGY SOUTH                                 | Dominion Energy South Carolina Inc                    | CUSIP: 25731EA51<br>LEI: 3QRVFYR22IUIEOORTK28 | Long             | STIV             | CORP              | US        |  55000000 | PA      | $54981116.66  | 1.80%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORPORATION                               | Duke Energy Corp                                      | CUSIP: 26244JAU3<br>LEI: I1BZKREC126H0VB1BL91 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49855555.56  | 1.63%             | 2026-01-28      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DUKE ENERGY CORPORATION                               | Duke Energy Corp                                      | CUSIP: 26244JAV1<br>LEI: I1BZKREC126H0VB1BL91 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $19940000.00  | 0.65%             | 2026-01-29      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ELECTRICITE DE FRANCE                                 | Electricite de France SA                              | CUSIP: 28504HBH6<br>LEI: 549300X3UK4GG3FNMO06 | Long             | STIV             | CORP              | FR        |  10000000 | PA      | $9950550.00   | 0.33%             | 2026-02-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE US INC                                       | Enbridge US Inc                                       | CUSIP: 29251VA22<br>LEI: 5493003FRODSVHJWFS32 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $25000000.00  | 0.82%             | 2026-01-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ENBRIDGE US INC                                       | Enbridge US Inc                                       | CUSIP: 29251VA97<br>LEI: 5493003FRODSVHJWFS32 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49961597.22  | 1.64%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ENTERGY CORP                                          | Entergy Corp                                          | CUSIP: 29366GC25<br>LEI: 4XM3TW50JULSLG8BNC79 | Long             | STIV             | CORP              | US        |  45000000 | PA      | $44697625.00  | 1.46%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Equifax Inc                                           | Equifax Inc                                           | CUSIP: 29442LA24<br>LEI: 5493004MCF8JDC86VS77 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $1000000.00   | 0.03%             | 2026-01-02      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| EQUIFAX INC                                           | Equifax Inc                                           | CUSIP: 29442LAC2<br>LEI: 5493004MCF8JDC86VS77 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $24971388.89  | 0.82%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EssilorLuxottica SA                                   | EssilorLuxottica SA                                   | CUSIP: 29728YAF2<br>LEI: 549300M3VH1A3ER1TB49 | Long             | STIV             | CORP              | FR        |   2150000 | PA      | $2147111.83   | 0.07%             | 2026-01-15      | Variable      | 3.72%                 | No            |                  2 | On Loan: No      |
| ESSILORLUXOTTICA                                      | EssilorLuxottica SA                                   | CUSIP: 29728YAS4<br>LEI: 549300M3VH1A3ER1TB49 | Long             | STIV             | CORP              | FR        |   2900000 | PA      | $2892750.00   | 0.09%             | 2026-01-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERGY KANSAS CENTRAL                                 | Evergy Kansas Central Inc                             | CUSIP: 30035NAC9<br>LEI: J75GNWGEO73W89ZV3S44 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $19976833.33  | 0.65%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERGY METRO INC                                      | Evergy Metro Inc                                      | CUSIP: 30036NA61<br>LEI: 1128SIJQ26096WL7IO82 | Long             | STIV             | CORP              | US        |   4538000 | PA      | $4536058.75   | 0.15%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERGY METRO INC                                      | Evergy Metro Inc                                      | CUSIP: 30036NA61<br>LEI: 1128SIJQ26096WL7IO82 | Long             | STIV             | CORP              | US        |  15462000 | PA      | $15455368.52  | 0.51%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                     | Eversource Energy                                     | CUSIP: 30040YA53<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | STIV             | CORP              | US        |    750000 | PA      | $749754.38    | 0.02%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                     | Eversource Energy                                     | CUSIP: 30040YA53<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $19993083.33  | 0.65%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                     | Eversource Energy                                     | CUSIP: 30040YA87<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | STIV             | CORP              | US        |  14000000 | PA      | $13990946.67  | 0.46%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                     | Eversource Energy                                     | CUSIP: 30040YA95<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | STIV             | CORP              | US        |    350000 | PA      | $349730.50    | 0.01%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                     | Eversource Energy                                     | CUSIP: 30040YAD6<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | STIV             | CORP              | US        |   1500000 | PA      | $1498203.33   | 0.05%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                     | Eversource Energy                                     | CUSIP: 30040YAT1<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2991937.50   | 0.10%             | 2026-01-27      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| EVERSOURCE ENERGY                                     | Eversource Energy                                     | CUSIP: 30040YB29<br>LEI: SJ7XXD41SQU3ZNWUJ746 | Long             | STIV             | CORP              | US        |  35000000 | PA      | $34883362.50  | 1.14%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Fiserv Inc                                            | Fiserv Inc                                            | CUSIP: 33774LA24<br>LEI: GI7UBEJLXYLGR2C7GV83 | Long             | STIV             | CORP              | US        |  43000000 | PA      | $43000000.00  | 1.41%             | 2026-01-02      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                               | Honeywell International Inc                           | CUSIP: 43851UB44<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | STIV             | CORP              | US        |   1854000 | PA      | $1847320.97   | 0.06%             | 2026-02-04      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                               | Honeywell International Inc                           | CUSIP: 43851UC27<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | STIV             | CORP              | US        |   2616000 | PA      | $2599065.04   | 0.09%             | 2026-03-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                               | Honeywell International Inc                           | CUSIP: 43851UCJ0<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | STIV             | CORP              | US        |   3391000 | PA      | $3363942.65   | 0.11%             | 2026-03-18      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| HONEYWELL INTERNATIONAL                               | Honeywell International Inc                           | CUSIP: 43851UCS0<br>LEI: ISRPG12PN4EIEOEMW547 | Long             | STIV             | CORP              | US        |   9750000 | PA      | $9663455.21   | 0.32%             | 2026-03-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                                     | ITC Holdings Corp                                     | CUSIP: 45032QAS8<br>LEI: 549300HTO5U9D3SLE207 | Long             | STIV             | CORP              | US        |  16000000 | PA      | $15956586.67  | 0.52%             | 2026-01-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                                     | ITC Holdings Corp                                     | CUSIP: 45032QB99<br>LEI: 549300HTO5U9D3SLE207 | Long             | STIV             | CORP              | US        |  31000000 | PA      | $30866493.33  | 1.01%             | 2026-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ITC HOLDINGS CORP                                     | ITC Holdings Corp                                     | CUSIP: 45032QCA5<br>LEI: 549300HTO5U9D3SLE207 | Long             | STIV             | CORP              | US        |   3500000 | PA      | $3473423.33   | 0.11%             | 2026-03-10      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| IMPERIAL BRANDS FIN PLC                               | Imperial Brands Finance PLC                           | CUSIP: 45262EAW7<br>LEI: 2138008L3B3MCG1DFS50 | Long             | STIV             | CORP              | GB        |  74500000 | PA      | $74272278.33  | 2.43%             | 2026-01-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                              | Intercontinental Exchange Inc                         | CUSIP: 45856XAC1<br>LEI: 5493000F4ZO33MV32P92 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2996800.00   | 0.10%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| INTERCONTINENTALEXCHANGE                              | Intercontinental Exchange Inc                         | CUSIP: 45856XAC1<br>LEI: 5493000F4ZO33MV32P92 | Long             | STIV             | CORP              | US        |  71000000 | PA      | $70923675.00  | 2.32%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                         | J M Smucker Co/The                                    | CUSIP: 46642TA60<br>LEI: 5493000WDH6A0LHDJD55 | Long             | STIV             | CORP              | US        |    510000 | PA      | $509781.83    | 0.02%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| JM SMUCKER CO                                         | J M Smucker Co/The                                    | CUSIP: 46642TA60<br>LEI: 5493000WDH6A0LHDJD55 | Long             | STIV             | CORP              | US        |   1809000 | PA      | $1808185.95   | 0.06%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                  | Keurig Dr Pepper Inc                                  | CUSIP: 49271KA53<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249921.87    | 0.01%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                  | Keurig Dr Pepper Inc                                  | CUSIP: 49271KA79<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $999458.33    | 0.03%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                  | Keurig Dr Pepper Inc                                  | CUSIP: 49271KA87<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |  50000000 | PA      | $49967500.00  | 1.64%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                  | Keurig Dr Pepper Inc                                  | CUSIP: 49271KA95<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |    950000 | PA      | $949251.88    | 0.03%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                  | Keurig Dr Pepper Inc                                  | CUSIP: 49271KAE4<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $998733.33    | 0.03%             | 2026-01-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KEURIG DR PEPPER INC                                  | Keurig Dr Pepper Inc                                  | CUSIP: 49271KAG9<br>LEI: DYTQ8KRTKO7Y2BVU5K74 | Long             | STIV             | CORP              | US        |  22000000 | PA      | $21963467.77  | 0.72%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KOMATSU FINANCE AMERICA                               | Komatsu Finance America Inc                           | CUSIP: 50045WAF8<br>LEI: 549300SRAAFEEQ8Z4D68 | Long             | STIV             | CORP              | US        |   2250000 | PA      | $2246936.88   | 0.07%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KOMATSU FINANCE AMERICA                               | Komatsu Finance America Inc                           | CUSIP: 50045WAG6<br>LEI: 549300SRAAFEEQ8Z4D68 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2995601.67   | 0.10%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KOMATSU FINANCE AMERICA                               | Komatsu Finance America Inc                           | CUSIP: 50045WAG6<br>LEI: 549300SRAAFEEQ8Z4D68 | Long             | STIV             | CORP              | US        |    500000 | PA      | $499261.11    | 0.02%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                | Marriott International Inc/MD                         | CUSIP: 57163UA22<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | STIV             | CORP              | US        |  17000000 | PA      | $17000000.00  | 0.56%             | 2026-01-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Marriott International Inc/MD                         | Marriott International Inc/MD                         | CUSIP: 57163UAC0<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | STIV             | CORP              | US        |   3000000 | PA      | $2996833.33   | 0.10%             | 2026-01-12      | Variable      | 3.80%                 | No            |                  2 | On Loan: No      |
| MARRIOTT INTERNATIONAL                                | Marriott International Inc/MD                         | CUSIP: 57163UAE6<br>LEI: 225YDZ14ZO8E1TXUSU86 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1997326.67   | 0.07%             | 2026-01-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MEDTRONIC GLOB HLDS SCA                               | Medtronic Global Holdings SCA                         | CUSIP: 58507BA76<br>LEI: 549300JXMTTP8GKYIX14 | Long             | STIV             | CORP              | US        |  53525000 | PA      | $53496750.69  | 1.75%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI HC FIN AMER                                | Mitsubishi HC Finance America LLC                     | CUSIP: 60678QA56<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |  12097000 | PA      | $12092887.02  | 0.40%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI HC FIN AMER                                | Mitsubishi HC Finance America LLC                     | CUSIP: 60678QA56<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |  10000000 | PA      | $9996591.67   | 0.33%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI HC FIN AMER                                | Mitsubishi HC Finance America LLC                     | CUSIP: 60678QA56<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |   4000000 | PA      | $3998633.33   | 0.13%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI HC FIN AMER                                | Mitsubishi HC Finance America LLC                     | CUSIP: 60678QAC1<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |    500000 | PA      | $499444.44    | 0.02%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI HC FIN AMER                                | Mitsubishi HC Finance America LLC                     | CUSIP: 60678QAL1<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |    330000 | PA      | $329356.50    | 0.01%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI HC FIN AMER                                | Mitsubishi HC Finance America LLC                     | CUSIP: 60678QAL1<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |  12994000 | PA      | $12967427.27  | 0.42%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MITSUBISHI HC FIN AMER                                | Mitsubishi HC Finance America LLC                     | CUSIP: 60678QAS6<br>LEI: 3538008O2MCHLB9FAL82 | Long             | STIV             | CORP              | US        |   4260000 | PA      | $4248640.00   | 0.14%             | 2026-01-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Mohawk Industries Inc                                 | Mohawk Industries Inc                                 | CUSIP: 60819KA83<br>LEI: 549300JI1115MG3Q6322 | Long             | STIV             | CORP              | US        |  18000000 | PA      | $17988720.00  | 0.59%             | 2026-01-08      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                | Mondelez International Inc                            | CUSIP: 60920WB25<br>LEI: 549300DV9GIB88LZ5P30 | Long             | STIV             | CORP              | US        |  12475000 | PA      | $12431815.71  | 0.41%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| MONDELEZ INTERNATIONAL                                | Mondelez International Inc                            | CUSIP: 60920WB25<br>LEI: 549300DV9GIB88LZ5P30 | Long             | STIV             | CORP              | US        |  34300000 | PA      | $34181855.56  | 1.12%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN ILLINOIS GAS CO                              | Northern Illinois Gas Co                              | CUSIP: 66522UA78<br>LEI: 549300H5GUKWH3CAB355 | Long             | STIV             | CORP              | US        |  12000000 | PA      | $11993716.67  | 0.39%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| NORTHERN ILLINOIS GAS CO                              | Northern Illinois Gas Co                              | CUSIP: 66522UA86<br>LEI: 549300H5GUKWH3CAB355 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $19987300.00  | 0.65%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                 | Oglethorpe Power Corp                                 | CUSIP: 67705BA69<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | STIV             | CORP              | US        |   3007000 | PA      | $3005636.83   | 0.10%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                 | Oglethorpe Power Corp                                 | CUSIP: 67705BA77<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | STIV             | CORP              | US        |  17450000 | PA      | $17440111.67  | 0.57%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                 | Oglethorpe Power Corp                                 | CUSIP: 67705BA85<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | STIV             | CORP              | US        |    300000 | PA      | $299802.50    | 0.01%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                 | Oglethorpe Power Corp                                 | CUSIP: 67705BA85<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | STIV             | CORP              | US        |   6789000 | PA      | $6784383.48   | 0.22%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                 | Oglethorpe Power Corp                                 | CUSIP: 67705BAE2<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | STIV             | CORP              | US        |    315000 | PA      | $314601.00    | 0.01%             | 2026-01-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                 | Oglethorpe Power Corp                                 | CUSIP: 67705BAE2<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | STIV             | CORP              | US        |   6320000 | PA      | $6311741.86   | 0.21%             | 2026-01-14      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| OGLETHORPE POWER CORP                                 | Oglethorpe Power Corp                                 | CUSIP: 67705BAG7<br>LEI: 3EERXCUSWMS9GV5D9M98 | Long             | STIV             | CORP              | US        |   4000000 | PA      | $3993902.22   | 0.13%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONE Gas Inc                                           | ONE Gas Inc                                           | CUSIP: 68236BA57<br>LEI: 549300HXDWI0LATTX840 | Long             | STIV             | CORP              | US        |  11000000 | PA      | $10996498.33  | 0.36%             | 2026-01-05      | Fixed         | 3.82%                 | No            |                  2 | On Loan: No      |
| ONE GAS INC                                           | ONE Gas Inc                                           | CUSIP: 68236BA99<br>LEI: 549300HXDWI0LATTX840 | Long             | STIV             | CORP              | US        |  11600000 | PA      | $11591248.44  | 0.38%             | 2026-01-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONE GAS INC                                           | ONE Gas Inc                                           | CUSIP: 68236BAC2<br>LEI: 549300HXDWI0LATTX840 | Long             | STIV             | CORP              | US        |  12300000 | PA      | $12286709.17  | 0.40%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ONE Gas Inc                                           | ONE Gas Inc                                           | CUSIP: 68236BAE8<br>LEI: 549300HXDWI0LATTX840 | Long             | STIV             | CORP              | US        |  20000000 | PA      | $19974266.67  | 0.65%             | 2026-01-14      | Fixed         | 3.86%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                           | Oracle Corp                                           | CUSIP: 6840C3AD5<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |   1020000 | PA      | $1018722.17   | 0.03%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                           | Oracle Corp                                           | CUSIP: 6840C3AG8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |   4250000 | PA      | $4243256.66   | 0.14%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                           | Oracle Corp                                           | CUSIP: 6840C3AG8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |    500000 | PA      | $499202.78    | 0.02%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                           | Oracle Corp                                           | CUSIP: 6840C3AG8<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249591.67    | 0.01%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                           | Oracle Corp                                           | CUSIP: 6840C3B28<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |  66576000 | PA      | $66350122.43  | 2.17%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                           | Oracle Corp                                           | CUSIP: 6840C3B28<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $996598.61    | 0.03%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ORACLE CORP                                           | Oracle Corp                                           | CUSIP: 6840C3CB7<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $992387.78    | 0.03%             | 2026-03-11      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Oracle Corp                                           | Oracle Corp                                           | CUSIP: 6840C3FR9<br>LEI: 1Z4GXXU7ZHVWFCD8TV52 | Long             | STIV             | CORP              | US        |   1000000 | PA      | $980183.34    | 0.03%             | 2026-06-25      | Variable      | 4.10%                 | No            |                  2 | On Loan: No      |
| PPL CAPITAL FUNDING INC                               | PPL Capital Funding Inc                               | CUSIP: 69354HAC3<br>LEI: 549300MROK5WY0D2NU17 | Long             | STIV             | CORP              | US        |  57000000 | PA      | $56934925.00  | 1.86%             | 2026-01-12      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO                               | Penske Truck Leasing Co LP                            | CUSIP: 70962BA20<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |   9000000 | PA      | $9000000.00   | 0.29%             | 2026-01-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO                               | Penske Truck Leasing Co LP                            | CUSIP: 70962BA79<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |  10000000 | PA      | $9994375.00   | 0.33%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO                               | Penske Truck Leasing Co LP                            | CUSIP: 70962BAL8<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |    770000 | PA      | $768440.75    | 0.03%             | 2026-01-20      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO                               | Penske Truck Leasing Co LP                            | CUSIP: 70962BAN4<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |  45945000 | PA      | $45841623.75  | 1.50%             | 2026-01-22      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO                               | Penske Truck Leasing Co LP                            | CUSIP: 70962BB94<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1991344.45   | 0.07%             | 2026-02-09      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO                               | Penske Truck Leasing Co LP                            | CUSIP: 70962BBD5<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |    250000 | PA      | $248798.33    | 0.01%             | 2026-02-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PENSKE TRUCK LEASING CO                               | Penske Truck Leasing Co LP                            | CUSIP: 70962BBD5<br>LEI: 549300ZX07JYMI8GHQ39 | Long             | STIV             | CORP              | US        |  12000000 | PA      | $11942600.00  | 0.39%             | 2026-02-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Public Service Co of Colorado                         | Public Service Co of Colorado                         | CUSIP: 74444RA25<br>LEI: 5BANEF6PGSEK0SNMQF44 | Long             | STIV             | CORP              | US        |  68000000 | PA      | $68000000.00  | 2.23%             | 2026-01-02      | Variable      | 3.82%                 | No            |                  2 | On Loan: No      |
| PUBLIC SVC ENTERPRISE GP                              | Public Service Enterprise Group Inc                   | CUSIP: 74457MAD6<br>LEI: PUSS41EMO3E6XXNV3U28 | Long             | STIV             | CORP              | US        |    382000 | PA      | $381544.78    | 0.01%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ROCKWELL AUTOMATION                                   | Rockwell Automation Inc                               | CUSIP: 7743E3AS5<br>LEI: VH3R4HHBHH12O0EXZJ88 | Long             | STIV             | CORP              | US        |  18000000 | PA      | $17954400.00  | 0.59%             | 2026-01-26      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| RYDER SYSTEM INC                                      | Ryder System Inc                                      | CUSIP: 78355BA51<br>LEI: ZXJ6Y2OSPZXIVGRILD15 | Long             | STIV             | CORP              | US        |  30000000 | PA      | $29990250.00  | 0.98%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                | Sempra                                                | CUSIP: 81686NA59<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | STIV             | CORP              | US        |  28000000 | PA      | $27990246.67  | 0.92%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                | Sempra                                                | CUSIP: 81686NA67<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | STIV             | CORP              | US        |  21000000 | PA      | $20991063.33  | 0.69%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SEMPRA                                                | Sempra                                                | CUSIP: 81686NA67<br>LEI: PBBKGKLRK5S5C0Y4T545 | Long             | STIV             | CORP              | US        |  25000000 | PA      | $24988388.89  | 0.82%             | 2026-01-06      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The                               | Sherwin-Williams Co/The                               | CUSIP: 82434UAS6<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | STIV             | CORP              | US        |  20500000 | PA      | $20447930.00  | 0.67%             | 2026-01-26      | Fixed         | 3.81%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The                               | Sherwin-Williams Co/The                               | CUSIP: 82434UAT4<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | STIV             | CORP              | US        |   8000000 | PA      | $7979166.67   | 0.26%             | 2026-01-27      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| Sherwin-Williams Co/The                               | Sherwin-Williams Co/The                               | CUSIP: 82434UAU1<br>LEI: Z15BMIOX8DDH0X2OBP21 | Long             | STIV             | CORP              | US        |   5000000 | PA      | $4986350.00   | 0.16%             | 2026-01-28      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| Southern Co Gas Capital Corp                          | Southern Co Gas Capital Corp                          | CUSIP: 8426EMA88<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | STIV             | CORP              | US        |  12000000 | PA      | $11992440.00  | 0.39%             | 2026-01-08      | Fixed         | 3.78%                 | No            |                  2 | On Loan: No      |
| Southern Co Gas Capital Corp                          | Southern Co Gas Capital Corp                          | CUSIP: 8426EMA96<br>LEI: E8CD46SWUD2TSN8PA636 | Long             | STIV             | CORP              | US        |  14602000 | PA      | $14591267.53  | 0.48%             | 2026-01-09      | Variable      | 3.78%                 | No            |                  2 | On Loan: No      |
| SPIRE INC                                             | Spire Inc                                             | CUSIP: 84858PAD3<br>LEI: 549300NXSY15DRY2R511 | Long             | STIV             | CORP              | US        |  10000000 | PA      | $9988297.22   | 0.33%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SPIRE INC                                             | Spire Inc                                             | CUSIP: 84858PAD3<br>LEI: 549300NXSY15DRY2R511 | Long             | STIV             | CORP              | US        |  12300000 | PA      | $12285530.42  | 0.40%             | 2026-01-13      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SPIRE INC                                             | Spire Inc                                             | CUSIP: 84858PAF8<br>LEI: 549300NXSY15DRY2R511 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1997219.45   | 0.07%             | 2026-01-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| State Street Institutional Treasury Money Market Fund | State Street Institutional Treasury Money Market Fund | CUSIP: 857492888<br>LEI: 549300Q3FHSMZ70NLT76 | Long             | EC               | RF                | US        |  34293143 | NS      | $34293143.44  | 1.12%             |  |  |  | No            |                  1 | On Loan: No      |
| Sysco Corp                                            | Sysco Corp                                            | CUSIP: 87183BA27<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | STIV             | CORP              | US        |  60000000 | PA      | $60000000.00  | 1.96%             | 2026-01-02      | Variable      | 3.71%                 | No            |                  2 | On Loan: No      |
| SYSCO CORP                                            | Sysco Corp                                            | CUSIP: 87183BBH3<br>LEI: 5RGWIFLMGH3YS7KWI652 | Long             | STIV             | CORP              | US        |    250000 | PA      | $248696.66    | 0.01%             | 2026-02-17      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TELSTRA GROUP LTD                                     | Telstra Group Ltd                                     | CUSIP: 8796VRAW1<br>LEI: 894500WRW54CVN62K416 | Long             | STIV             | CORP              | AU        |  52000000 | PA      | $51836200.00  | 1.70%             | 2026-01-30      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TELSTRA GROUP LTD                                     | Telstra Group Ltd                                     | CUSIP: 8796VRB26<br>LEI: 894500WRW54CVN62K416 | Long             | STIV             | CORP              | AU        |  21000000 | PA      | $20929475.00  | 0.69%             | 2026-02-02      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TOYOTA MOTOR CREDIT CORP                              | Toyota Motor Credit Corp                              | CUSIP: 89233HAG9<br>LEI: Z2VZBHUMB7PWWJ63I008 | Long             | STIV             | CORP              | US        |    425000 | PA      | $424314.10    | 0.01%             | 2026-01-16      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| VIRGINIA ELECTRIC POWER                               | Virginia Electric and Power Co                        | CUSIP: 92780KA57<br>LEI: CQKUMNNZVDJLRYV2PT43 | Long             | STIV             | CORP              | US        |    250000 | PA      | $249915.21    | 0.01%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WEC ENERGY GROUP INC                                  | WEC Energy Group Inc                                  | CUSIP: 92930WA50<br>LEI: 549300IGLYTZUK3PVP70 | Long             | STIV             | CORP              | US        |   2000000 | PA      | $1999353.33   | 0.07%             | 2026-01-05      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| WASTE MANAGEMENT INC                                  | Waste Management Inc                                  | CUSIP: 94107NA79<br>LEI: 549300YX8JIID70NFS41 | Long             | STIV             | CORP              | US        |  43000000 | PA      | $42975633.33  | 1.41%             | 2026-01-07      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| Western Union Co/The                                  | Western Union Co/The                                  | CUSIP: 95980HA22<br>LEI: 28ID94QU1140NC23S047 | Long             | STIV             | CORP              | US        |  27000000 | PA      | $27000000.00  | 0.88%             | 2026-01-02      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| Western Union Co/The                                  | Western Union Co/The                                  | CUSIP: 95980HA22<br>LEI: 28ID94QU1140NC23S047 | Long             | STIV             | CORP              | US        |  22000000 | PA      | $22000000.00  | 0.72%             | 2026-01-02      | Variable      | 3.75%                 | No            |                  2 | On Loan: No      |
| TRISTATE INSURED CASH SWEEP                           | TRISTATE INSURED CASH SWEEP                           | CUSIP: 000000000<br>LEI: N/A                  | Long             | STIV             | CORP              | US        | 285712086 | PA      | $285712085.67 | 9.36%             | 2050-10-01      | Variable      | 3.95%                 | No            |                  2 | On Loan: No      |
| WILLIAMS COMPANIES INC                                | Williams Cos Inc/The                                  | CUSIP: 96946UA81<br>LEI: D71FAKCBLFS2O0RBPG08 | Long             | STIV             | CORP              | US        |  74200000 | PA      | $74152635.66  | 2.43%             | 2026-01-08      | None          | 0.00%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2026-01-27

**Name of Applicant:** THORNBURG INVESTMENT TRUST

**Signature:** Christopher Luckham

**Name of Signer:** Christopher Luckham

**Title:** Senior Manager - Fund Administration