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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>1</fairValLevel>
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        <name>Credit Suisse Mortgage Trust</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Carvana Auto Receivables Trust</name>
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        <fairValLevel>2</fairValLevel>
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      <invstOrSec>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>3</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Bank &amp; Trust Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>State Street Bank &amp; Trust Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Brown Brothers Harriman &amp; Co.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>EMPRESA GEN ELEC HAINA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Enbridge Inc</name>
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        <fairValLevel>1</fairValLevel>
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        <name>Energizer Holdings, Inc.</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Equitable Holdings Inc</name>
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        <name>Fat Brands Fazoli's Native I, LLC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Deutsche Telekom AG</name>
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        <fairValLevel>2</fairValLevel>
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        <name>STEWART INFORMATION SERV</name>
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        <name>SUMMIT MIDSTREAM</name>
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        <name>SUNOCO LP</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TURKCELL ILETISIM HIZMET</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>COMISION FEDERAL DE ELEC</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Daimler Truck Holding AG</name>
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        <fairValLevel>2</fairValLevel>
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        <fairValLevel>2</fairValLevel>
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        <name>Roche Holding AG</name>
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        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
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        <name>Singapore Telecommunications Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Engie SA</name>
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        <fairValLevel>2</fairValLevel>
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        <name>BIM Birlesik Magazalar AS</name>
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        <fairValLevel>2</fairValLevel>
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        <name>TotalEnergies SE</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Glencore PLC</name>
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        <name>LUKOIL PJSC</name>
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        <fairValLevel>3</fairValLevel>
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        <name>GMK Norilskiy Nickel PAO</name>
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        <fairValLevel>3</fairValLevel>
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        <name>Bank of Ireland Group PLC</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Midea Group Co Ltd</name>
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        <fairValLevel>2</fairValLevel>
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        <name>ASR Nederland NV</name>
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        <fairValLevel>2</fairValLevel>
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        <name>Tesco PLC</name>
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        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BLGZ9862"/>
        </identifiers>
        <balance>83026330.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75551500"/>
        <valUSD>521822816.54000000</valUSD>
        <pctVal>2.473453369117</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>NN Group NV</name>
        <lei>724500OHYNDT9OY6Q215</lei>
        <title>NN Group NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0010773842"/>
        </identifiers>
        <balance>9581916.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>748308406.60000000</valUSD>
        <pctVal>3.547000803292</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Shell PLC</name>
        <lei>21380068P1DRHMJ8KU70</lei>
        <title>Shell PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BP6MXD84"/>
        </identifiers>
        <balance>2735600.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75551500"/>
        <valUSD>126699472.51000000</valUSD>
        <pctVal>0.600558709224</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Cie Generale des Etablissements Michelin SCA</name>
        <lei>549300SOSI58J6VIW052</lei>
        <title>Cie Generale des Etablissements Michelin SCA</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="FR001400AJ45"/>
        </identifiers>
        <balance>1238700.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="EUR" exchangeRt="0.86516400"/>
        <valUSD>42436482.31000000</valUSD>
        <pctVal>0.201150001142</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>FR</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Reckitt Benckiser Group PLC</name>
        <lei>5493003JFSMOJG48V108</lei>
        <title>Reckitt Benckiser Group PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BSZBP530"/>
        </identifiers>
        <balance>1379307.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75551500"/>
        <valUSD>92745070.78000000</valUSD>
        <pctVal>0.439613984898</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Zegona Communications plc</name>
        <lei>213800ASI1VZL2ED4S65</lei>
        <title>Zegona Communications plc</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="GB00BVGBY890"/>
        </identifiers>
        <balance>27593000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="GBP" exchangeRt="0.75551500"/>
        <valUSD>607100637.08000000</valUSD>
        <pctVal>2.877672398719</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>GB</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>CK Hutchison Holdings Ltd</name>
        <lei>254900Z8HM1VEPOQ2G79</lei>
        <title>CK Hutchison Holdings Ltd</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="KYG217651051"/>
        </identifiers>
        <balance>23928000.00000000</balance>
        <units>NS</units>
        <currencyConditional curCd="HKD" exchangeRt="7.84120000"/>
        <valUSD>183671797.33000000</valUSD>
        <pctVal>0.870608972083</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>KY</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>Medtronic PLC</name>
        <lei>549300GX3ZBSQWUXY261</lei>
        <title>Medtronic PLC</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="IE00BTN1Y115"/>
        </identifiers>
        <balance>1829695.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>158543071.75000000</valUSD>
        <pctVal>0.751498176278</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>IE</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>LyondellBasell Industries NV</name>
        <lei>BN6WCCZ8OVP3ITUUVN49</lei>
        <title>LyondellBasell Industries NV</title>
        <cusip>000000000</cusip>
        <identifiers>
          <isin value="NL0009434992"/>
        </identifiers>
        <balance>894177.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>72034899.12000000</valUSD>
        <pctVal>0.341447246603</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>NL</invCountry>
        
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <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>2026-04-15</ncom:dateSigned>
      <ncom:nameOfApplicant>THORNBURG INVESTMENT TRUST</ncom:nameOfApplicant>
      <ncom:signature>Christopher Luckham</ncom:signature>
      <ncom:signerName>Christopher Luckham</ncom:signerName>
      <ncom:title>Manager - Fund Admin</ncom:title>
    </signature>
  </formData>
</edgarSubmission>
