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      </invstOrSec>
      <invstOrSec>
        <name>American Honda Finance Corp</name>
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        <title>American Honda Finance Corp</title>
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        <valUSD>999443.06000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Honda Finance Corp</name>
        <lei>B6Q2VFHD1797Q7NZ3E43</lei>
        <title>American Honda Finance Corp</title>
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          <isin value="US02665KG848"/>
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        <curCd>USD</curCd>
        <valUSD>3597249.00000000</valUSD>
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        <assetCat>STIV</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-08</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.98000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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        <title>American Honda Finance Corp</title>
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          <isin value="US02665KG848"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <title>American Honda Finance Corp</title>
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          <isin value="US02665KG848"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>American Honda Finance Corp</name>
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        <title>American Honda Finance Corp</title>
        <cusip>02665KGN1</cusip>
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          <isin value="US02665KGN19"/>
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        <invCountry>US</invCountry>
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          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>American Honda Finance Corp</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>American Honda Finance Corp</name>
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        <title>American Honda Finance Corp</title>
        <cusip>02665KH59</cusip>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>American Honda Finance Corp</name>
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        <title>American Honda Finance Corp</title>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>American Transmission Co LLC</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.87000000</annualizedRt>
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        <name>Aon Corp</name>
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        <title>Aon Corp</title>
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        <invCountry>US</invCountry>
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        <name>Aon Corp</name>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Avangrid Inc</name>
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        <name>BAT International Finance PLC</name>
        <lei>21380041YBGOQDFAC823</lei>
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        <name>Bell Telephone Co of Canada or Bell Canada/The</name>
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        <name>Bell Telephone Co of Canada or Bell Canada/The</name>
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        <invCountry>CA</invCountry>
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        <name>Boston Scientific Corp</name>
        <lei>Y6ZDD9FP4P8JSSJMW954</lei>
        <title>Boston Scientific Corp</title>
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        <curCd>USD</curCd>
        <valUSD>34350808.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <isCashCollateral>N</isCashCollateral>
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      </invstOrSec>
      <invstOrSec>
        <name>Brown-Forman Corp</name>
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        <title>Brown-Forman Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.05000000</annualizedRt>
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      <invstOrSec>
        <name>Brown-Forman Corp</name>
        <lei>549300873K3LXF7ARU34</lei>
        <title>Brown-Forman Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-31</maturityDt>
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          <annualizedRt>4.02000000</annualizedRt>
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      <invstOrSec>
        <name>Brown-Forman Corp</name>
        <lei>549300873K3LXF7ARU34</lei>
        <title>Brown-Forman Corp</title>
        <cusip>11563WH73</cusip>
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          <isin value="US11563WH730"/>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-07</maturityDt>
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          <annualizedRt>3.91000000</annualizedRt>
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      <invstOrSec>
        <name>CRH America Finance Inc</name>
        <lei>549300WEVUODRJ4CWK56</lei>
        <title>CRH America Finance Inc</title>
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          <isin value="US12636DGT90"/>
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        <curCd>USD</curCd>
        <valUSD>1495645.00000000</valUSD>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-27</maturityDt>
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          <annualizedRt>4.02000000</annualizedRt>
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      <invstOrSec>
        <name>CRH America Finance Inc</name>
        <lei>549300WEVUODRJ4CWK56</lei>
        <title>CRH America Finance Inc</title>
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          <isin value="US12636DHA90"/>
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        <curCd>USD</curCd>
        <valUSD>4977611.11000000</valUSD>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.03000000</annualizedRt>
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      <invstOrSec>
        <name>Canadian Pacific Railway Co</name>
        <lei>54930036474DURYNB481</lei>
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          <isin value="US13645XG881"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14988450.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>

        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-08</maturityDt>
          <couponKind>Variable</couponKind>
          <annualizedRt>3.96000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clorox Co/The</name>
        <lei>54930044KVSC06Z79I06</lei>
        <title>Clorox Co/The</title>
        <cusip>18905MGT0</cusip>
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          <isin value="US18905MGT09"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14956016.67000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-27</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.06000000</annualizedRt>
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          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
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      <invstOrSec>
        <name>Clorox Co/The</name>
        <lei>54930044KVSC06Z79I06</lei>
        <title>Clorox Co/The</title>
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          <isin value="US18905MGU71"/>
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        <balance>15000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>14954325.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-28</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.06000000</annualizedRt>
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      <invstOrSec>
        <name>Clorox Co/The</name>
        <lei>54930044KVSC06Z79I06</lei>
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          <isin value="US18905MH364"/>
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        <curCd>USD</curCd>
        <valUSD>3985150.00000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-03</maturityDt>
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          <annualizedRt>4.05000000</annualizedRt>
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        <name>Clorox Co/The</name>
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        <title>Clorox Co/The</title>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-11</maturityDt>
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        <name>Clorox Co/The</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Clorox Co/The</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-27</maturityDt>
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        <name>Dominion Energy South Carolina Inc</name>
        <lei>3QRVFYR22IUIEOORTK28</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-07</maturityDt>
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      <invstOrSec>
        <name>Duke Energy Corp</name>
        <lei>I1BZKREC126H0VB1BL91</lei>
        <title>Duke Energy Corp</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-29</maturityDt>
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      <invstOrSec>
        <name>eBay Inc</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>eBay Inc</title>
        <cusip>27864BJR5</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>247569.31000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-25</maturityDt>
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          <annualizedRt>4.07000000</annualizedRt>
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      <invstOrSec>
        <name>eBay Inc</name>
        <lei>OML71K8X303XQONU6T67</lei>
        <title>eBay Inc</title>
        <cusip>27864BJR5</cusip>
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        <balance>250000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>247545.42000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-09-25</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.07000000</annualizedRt>
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        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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        <name>HCA Inc</name>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>HCA Inc</name>
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        <fairValLevel>2</fairValLevel>
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          <annualizedRt>4.34000000</annualizedRt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
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          <isin value="US44890NGT19"/>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-27</maturityDt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
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        <curCd>USD</curCd>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-03</maturityDt>
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          <annualizedRt>3.96000000</annualizedRt>
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      <invstOrSec>
        <name>Hyundai Capital America</name>
        <lei>549300RIPPWJB5Z0FK07</lei>
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          <isin value="US44890NHA19"/>
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        <curCd>USD</curCd>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-08-10</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.97000000</annualizedRt>
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      <invstOrSec>
        <name>Imperial Brands Finance PLC</name>
        <lei>2138008L3B3MCG1DFS50</lei>
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          <isin value="US45262EG192"/>
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        <curCd>USD</curCd>
        <valUSD>62000000.00000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-01</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.88000000</annualizedRt>
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      <invstOrSec>
        <name>Imperial Brands Finance PLC</name>
        <lei>2138008L3B3MCG1DFS50</lei>
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        <cusip>45262EG68</cusip>
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          <isin value="US45262EG689"/>
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        <balance>4000000.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>3997805.56000000</valUSD>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-06</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.95000000</annualizedRt>
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      <invstOrSec>
        <name>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Intercontinental Exchange Inc</title>
        <cusip>45856XGG6</cusip>
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          <isin value="US45856XGG60"/>
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        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-16</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.00000000</annualizedRt>
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      <invstOrSec>
        <name>Intercontinental Exchange Inc</name>
        <lei>5493000F4ZO33MV32P92</lei>
        <title>Intercontinental Exchange Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-21</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>4.01000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-22</maturityDt>
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          <annualizedRt>4.00000000</annualizedRt>
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        <name>Intercontinental Exchange Inc</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-28</maturityDt>
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        <name>ITT Inc</name>
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        <title>ITT Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-07</maturityDt>
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      <invstOrSec>
        <name>ITT Inc</name>
        <lei>549300KDSERHTJOXUS80</lei>
        <title>ITT Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-08</maturityDt>
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      <invstOrSec>
        <name>ITT Inc</name>
        <lei>549300KDSERHTJOXUS80</lei>
        <title>ITT Inc</title>
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        <invCountry>US</invCountry>
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          <maturityDt>2026-07-14</maturityDt>
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      <invstOrSec>
        <name>ITT Inc</name>
        <lei>549300KDSERHTJOXUS80</lei>
        <title>ITT Inc</title>
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        <invCountry>US</invCountry>
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        <name>ITT Inc</name>
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        <title>ITT Inc</title>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-17</maturityDt>
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      <invstOrSec>
        <name>Johnson Controls International plc</name>
        <lei>549300XQ6S1GYKGBL205</lei>
        <title>Johnson Controls International plc</title>
        <cusip>47837CG23</cusip>
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        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-02</maturityDt>
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          <annualizedRt>3.95000000</annualizedRt>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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      <invstOrSec>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-21</maturityDt>
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      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
        <lei>549300ZX07JYMI8GHQ39</lei>
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        <cusip>70962BGQ1</cusip>
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          <isin value="US70962BGQ14"/>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-24</maturityDt>
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      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
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          <isin value="US70962BGV09"/>
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        <curCd>USD</curCd>
        <valUSD>249216.39000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-29</maturityDt>
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          <annualizedRt>4.03000000</annualizedRt>
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      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
        <lei>549300ZX07JYMI8GHQ39</lei>
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        <cusip>70962BH49</cusip>
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          <isin value="US70962BH496"/>
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        <curCd>USD</curCd>
        <valUSD>7969248.89000000</valUSD>
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        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-04</maturityDt>
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      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-05</maturityDt>
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      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-08-12</maturityDt>
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      <invstOrSec>
        <name>Penske Truck Leasing Co LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Penske Truck Leasing Co LP</name>
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          <maturityDt>2026-08-13</maturityDt>
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        <name>Penske Truck Leasing Co LP</name>
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          <maturityDt>2026-09-10</maturityDt>
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        <name>Puget Sound Energy Inc</name>
        <lei>8MNFJR7KOMBQ7X62LK44</lei>
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        <name>Puget Sound Energy Inc</name>
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        <name>Puget Sound Energy Inc</name>
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        <name>Reckitt Benckiser Treasury Services PLC</name>
        <lei>213800LAXWIUOOBZ3908</lei>
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        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-09</maturityDt>
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        <name>Rockwell Automation Inc</name>
        <lei>VH3R4HHBHH12O0EXZJ88</lei>
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        <balance>400000.00000000</balance>
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        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
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        <fairValLevel>2</fairValLevel>
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          <maturityDt>2026-07-10</maturityDt>
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          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Xcel Energy Inc</name>
        <lei>LGJNMI9GH8XIDG5RCM61</lei>
        <title>Xcel Energy Inc</title>
        <cusip>9838T3GP5</cusip>
        <identifiers>
          <isin value="US9838T3GP50"/>
        </identifiers>
        <balance>7000000.00000000</balance>
        <units>PA</units>
        <curCd>USD</curCd>
        <valUSD>6983017.22000000</valUSD>
        <pctVal>0.252736571034</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>STIV</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>

        <fairValLevel>2</fairValLevel>
        <debtSec>
          <maturityDt>2026-07-23</maturityDt>
          <couponKind>Fixed</couponKind>
          <annualizedRt>3.97000000</annualizedRt>
          <isDefault>N</isDefault>
          <areIntrstPmntsInArrs>N</areIntrstPmntsInArrs>
          <isPaidKind>N</isPaidKind>
        </debtSec>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <explntrNotes>
      <explntrNote note="Monthly returns presented in Item B.5(a) have been calculated without deducting any applicable sales loads or redemption fees." noteItem="B.5.a"/>
    </explntrNotes>
    <signature>
      <ncom:dateSigned>2026-07-21</ncom:dateSigned>
      <ncom:nameOfApplicant>THORNBURG INVESTMENT TRUST</ncom:nameOfApplicant>
      <ncom:signature>Christopher Luckham</ncom:signature>
      <ncom:signerName>Christopher Luckham</ncom:signerName>
      <ncom:title>Senior Manager - Fund Administration</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
