0001752724-24-186497.txt : 20240822 0001752724-24-186497.hdr.sgml : 20240822 20240822141326 ACCESSION NUMBER: 0001752724-24-186497 CONFORMED SUBMISSION TYPE: NPORT-P PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20240630 FILED AS OF DATE: 20240822 DATE AS OF CHANGE: 20240822 PERIOD START: 20240930 FILER: COMPANY DATA: COMPANY CONFORMED NAME: THORNBURG INVESTMENT TRUST CENTRAL INDEX KEY: 0000816153 ORGANIZATION NAME: IRS NUMBER: 061158764 STATE OF INCORPORATION: MA FISCAL YEAR END: 0930 FILING VALUES: FORM TYPE: NPORT-P SEC ACT: 1940 Act SEC FILE NUMBER: 811-05201 FILM NUMBER: 241231475 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 0000816153 S000011848 Thornburg New York Intermediate Municipal Fund C000032368 Thornburg New York Intermediate Municipal Fund - Class A THNYX C000083544 Thornburg New York Intermediate Municipal Fund - Class I TNYIX NPORT-P 1 primary_doc.xml NPORT-P false 0000816153 XXXXXXXX S000011848 C000032368 C000083544 THORNBURG INVESTMENT TRUST 811-05201 0000816153 5493001XM52H8S4WYY82 2300 NORTH RIDGETOP ROAD SANTA FE 87506-8361 505-984-0200 Thornburg New York Intermediate Municipal Fund S000011848 5493007B7S16IHPDJN33 2024-09-30 2024-06-30 N 25678479.07 133150.11 25545328.96 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 0.00000000 49804.82000000 USD N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 649907C34 200000.00000000 PA USD 200613.20000000 0.785322437280 Long DBT MUN US N 2 2028-10-01 Fixed 5.00000000 N N N N N N Long Island Power Authority 1R46U5SYJ63KQXF39168 LONG ISLAND NY PWR AUTH ELEC SYS REVENUE 542690UY6 645000.00000000 PA USD 697577.82000000 2.730745104485 Long DBT MUN US N 2 2029-09-01 Fixed 5.25000000 N N N N N N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 64990GBD3 350000.00000000 PA USD 361444.65000000 1.414914838505 Long DBT MUN US N 2 2032-10-01 Fixed 5.00000000 N N N N N N Metropolitan Transportation Authority 5493000TKYODLXADQD60 MET TRANSPRTN AUTH NY REVENUE 59259Y6P9 1000000.00000000 PA USD 1016913.00000000 3.980817790964 Long DBT MUN US N 2 2031-11-15 Fixed 5.00000000 N N N N N N Tompkins County Development Corp N/A TOMPKINS CNTY NY DEV CORP REVENUE 890096CV0 250000.00000000 PA USD 260366.00000000 1.019231345220 Long DBT MUN US N 2 2034-07-01 Fixed 5.00000000 N N N N N N New York City Municipal Water Finance Authority 549300Q2EHQ6RJPQKP05 NEW YORK CITY NY MUNI WTR FIN AUTH WTR & SWR SYS REVENUE 64972GXX7 350000.00000000 PA USD 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York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 65000BY77 300000.00000000 PA USD 326381.40000000 1.277655889697 Long DBT MUN US N 2 2044-10-01 Fixed 5.00000000 N N N N N N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 65000BSA7 250000.00000000 PA USD 264548.50000000 1.035604201512 Long DBT MUN US N 2 2041-07-01 Fixed 5.00000000 N N N N N N New York City Housing Development Corp 549300SQWVHKBRF8D702 NEW YORK CITY NY HSG DEV CORP MF HSG REVENUE 64972E5F2 250000.00000000 PA USD 252496.25000000 0.988424343234 Long DBT MUN US N 2 2043-11-01 Fixed 4.60000000 N N N N N N Westchester County Local Development Corp 549300KOSU8OC75V9238 WESTCHESTER CNTY NY LOCAL DEV CORP REVENUE 95737TEF9 280000.00000000 PA USD 285818.96000000 1.118869756766 Long DBT MUN US N 2 2028-07-01 Fixed 5.00000000 N N N N N N New York City Housing Development Corp 549300SQWVHKBRF8D702 NEW YORK CITY NY 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5.00000000 N N N N N N New York City Transitional Finance Authority Future Tax Secured Revenue N/A NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE 64971XFT0 1000000.00000000 PA USD 1060155.00000000 4.150093356245 Long DBT MUN US N 2 2038-08-01 Fixed 5.00000000 N N N N N N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH ST PERSONAL INCOME TAX REVENUE 64990F4Q4 250000.00000000 PA USD 253888.00000000 0.993872501691 Long DBT MUN US N 2 2042-03-15 Fixed 4.00000000 N N N N N N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH SALES TAX REVENUE 64990ASP1 500000.00000000 PA USD 501656.50000000 1.963789547535 Long DBT MUN US N 2 2043-03-15 Fixed 4.00000000 N N N N N N Sales Tax Asset Receivable Corp N/A SALES TAX ASSET RECEIVABLE CORP NY 794665FT1 1000000.00000000 PA USD 1004928.00000000 3.933901190208 Long DBT MUN US N 2 2031-10-15 Fixed 5.00000000 N N N N N N City of New York NY 549300ABYZD2SFD5JB29 NEW YORK NY 64966Q6J4 800000.00000000 PA USD 880940.80000000 3.448539658187 Long DBT MUN US N 2 2043-08-01 Fixed 5.00000000 N N N N N N New York State Housing Finance Agency 5493000LS7KCDB02O506 NEW YORK ST HSG FIN AGY AFFORDABLE HSG REVENUE 64987JG62 250000.00000000 PA USD 252438.75000000 0.988199253160 Long DBT MUN US N 2 2043-11-01 Fixed 4.50000000 N N N N N N New York City Transitional Finance Authority Future Tax Secured Revenue N/A NEW YORK CITY NY TRANSITIONAL FIN AUTH REVENUE 64971WCB4 500000.00000000 PA USD 500487.00000000 1.959211411149 Long DBT MUN US N 2 2026-11-01 Fixed 5.00000000 N N N N N N Nassau County Sewer & Storm Water Finance Authority N/A NASSAU CNTY NY SWR & STORM WTR FIN AUTH SYS REVENUE 63166QCC2 400000.00000000 PA USD 401457.20000000 1.571548366547 Long DBT MUN US N 2 2028-10-01 Fixed 5.00000000 N N N N N N City of Yonkers NY N/A YONKERS NY 986082P33 350000.00000000 PA USD 354048.45000000 1.385961600081 Long DBT MUN US N 2 2025-03-15 Fixed 5.00000000 N N N N N N Tompkins County Development Corp 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4.325953295533 Long DBT MUN US N 2 2036-11-01 Fixed 5.00000000 N N N N N N New York Transportation Development Corp N/A NEW YORK ST TRANSPRTN DEV CORP SPL FAC REVENUE 650116HJ8 250000.00000000 PA USD 264581.75000000 1.035734362294 Long DBT MUN US N 2 2044-06-30 Fixed 5.25000000 N N N N N N Triborough Bridge & Tunnel Authority 54930020ZN4LQF7K3456 TRIBOROUGH NY BRIDGE & TUNNEL AUTH REVENUES 89602N2Y9 250000.00000000 PA USD 252911.75000000 0.990050863686 Long DBT MUN US N 2 2033-11-15 Fixed 5.00000000 N N N N N N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 64990GNT5 100000.00000000 PA USD 104955.30000000 0.410859066110 Long DBT MUN US N 2 2033-10-01 Fixed 5.00000000 N N N N N N Guam Power Authority 549300IPOV320QCKW060 GUAM PWR AUTH REVENUE 400653KH3 250000.00000000 PA USD 260433.00000000 1.019493624089 Long DBT MUN US N 2 2042-10-01 Fixed 5.00000000 N N N N N N New York City Housing Development Corp 549300SQWVHKBRF8D702 NEW YORK CITY NY HSG DEV CORP REVENUE 64966WHH3 200000.00000000 PA USD 200477.60000000 0.784791616165 Long DBT MUN US N 2 2043-08-01 Fixed 4.45000000 N N N N N N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 64990GYF3 200000.00000000 PA USD 200006.00000000 0.782945486093 Long DBT MUN US N 2 2024-07-01 Fixed 4.00000000 N N N N N N New York State Energy Research & Development Authority N/A NEW YORK ST ENERGY RESEARCH & DEV AUTH POLL CONTROL REVENUE 649845HY3 550000.00000000 PA USD 552536.60000000 2.162965295397 Long DBT MUN US N 2 2034-04-01 Fixed 4.00000000 N N N N N N Guam Power Authority 549300IPOV320QCKW060 GUAM PWR AUTH REVENUE 400653HV6 250000.00000000 PA USD 250372.50000000 0.980110690263 Long DBT MUN US N 2 2024-10-01 Fixed 5.00000000 N N N N N N New York State Dormitory Authority 549300C8XO7EXTX2XU71 NEW YORK ST DORM AUTH REVENUES NON ST SUPPORTED DEBT 65000BTU2 155000.00000000 PA USD 155159.81000000 0.607390142608 Long DBT MUN US N 2 2024-10-01 Fixed 5.00000000 N N N N N N 2024-07-18 THORNBURG INVESTMENT TRUST Christopher Luckham Christopher Luckham Senior Manager - Fund Administration XXXX NPORT-EX 2 NPORT_9P10_16165023_0624.htm
SCHEDULE OF INVESTMENTS
Thornburg New York Intermediate Municipal Fund June 30, 2024 (Unaudited)
ISSUER-DESCRIPTION PRINCIPAL
AMOUNT 		VALUE
  LONG-TERM MUNICIPAL BONDS — 94.5%    
  City of Long Beach (BAM) GO, Series B, 5.25% due 7/15/2042 $  500,000 $   538,017
  City of New York (City Budget Financial Management) GO, Series G, 5.00% due 8/1/2030 1,000,000   1,000,878
  City of New York GO, Series A, 5.00% due 8/1/2043    800,000     880,941
  City of Yonkers (AGM) GO, Series C, 5.00% due 3/15/2025    350,000     354,048
  Dutchess County Local Development Corp. (Tompkins Terrace Housing LP) (FNMA), 5.00% due 10/1/2040    500,000     543,533
  Guam Power Authority, Series A, 5.00% due 10/1/2042    250,000     260,433
  Guam Power Authority (Electric Power System), Series A, 5.00% due 10/1/2024    250,000     250,373
  Guam Waterworks Authority (Water & Wastewater System), 5.00% due 7/1/2026    510,000     523,193
  Hudson Yards Infrastructure Corp. (Hudson Yards Subway Station), Series A, 5.00% due 2/15/2035 1,000,000   1,040,581
  Long Island Power Authority (Electric System Capital Improvements) (AGC), Series C, 5.25% due 9/1/2029    645,000     697,578
  Metropolitan Transportation Authority,    
  Series A-1, 5.00% due 11/15/2040    205,000     206,525
  Series D-1, 5.00% due 11/15/2031 1,000,000   1,016,913
  Monroe County (Monroe Community College Association, Inc.) (AGM) IDC, 5.00% due 1/15/2028 - 1/15/2029    550,000     550,372
  Nassau County Sewer & Storm Water Finance Authority (Sewerage & Storm Water Resource Facilities), Series A, 5.00% due 10/1/2028 - 10/1/2031 1,400,000   1,404,659
  New York City Housing Development Corp., Series G, 4.60% due 11/1/2043    250,000     252,496
  New York City Housing Development Corp. (CSA Preservation Partners LLC) (HUD), Series A, 4.45% due 8/1/2043    200,000     200,478
  New York City Housing Development Corp. (FHA), Series A-1, 4.55% due 11/1/2044    300,000     303,297
  New York City Housing Development Corp. (HUD) (Green Bond), Series B-1-A, 4.50% due 11/1/2044    100,000     100,117
  New York City Municipal Water Finance Authority (New York City Water & Sewer System),    
  Series AA-2, 4.00% due 6/15/2042    350,000     349,713
  Series EE, 4.00% due 6/15/2042    250,000     249,772
  New York City Transitional Finance Authority Future Tax Secured Revenue,    
  Series A, 5.00% due 11/1/2036 1,000,000   1,105,079
  Series A1, 5.00% due 8/1/2038 1,000,000   1,060,155
  Series C, 5.00% due 11/1/2026    500,000     500,487
  New York State Dormitory Authority (AGM, State Aid Withholding),    
  Series A, 5.00% due 10/1/2043 - 10/1/2044    600,000     654,190
  Series H, 5.00% due 10/1/2024    155,000     155,160
  New York State Dormitory Authority (Barnard College),    
  Series A,                     
  4.00% due 7/1/2024    200,000     200,006
  5.00% due 7/1/2041    250,000     264,548
  New York State Dormitory Authority (Orange & Ulster Counties Board Coop Educational Services Sole Supervisory District), Series A, 4.25% due 8/15/2044    300,000     303,589
  New York State Dormitory Authority (School District Financing Program) (AGM, State Aid Withholding), Series A, 5.00% due 10/1/2028    200,000     200,613
  New York State Dormitory Authority (State Aid Withholding), Series A, 5.00% due 10/1/2032 - 10/1/2033    450,000     466,400
  New York State Dormitory Authority (State of New York Personal Income Tax Revenue),    
  Series A, 4.00% due 3/15/2040 - 3/15/2042    750,000     764,728
  Series E, 4.00% due 3/15/2039    350,000     357,275
  New York State Dormitory Authority (State of New York Sales Tax Revenue), Series A-1, 4.00% due 3/15/2043    500,000     501,656
  New York State Energy Research & Development Authority (New York State Electric & Gas Corp.), Series C, 4.00% due 4/1/2034    550,000     552,537
  New York State Housing Finance Agency (HUD, SONYMA), Series C-1, 4.50% due 11/1/2043    250,000     252,439
  New York Transportation Development Corp. (JFK NTO LLC) AMT, 5.25% due 6/30/2044    250,000     264,582
  Oneida County Local Development Corp. (Utica College), 5.00% due 7/1/2024    290,000     290,010
  Port Authority of New York & New Jersey AMT,    
  Series 186, 5.00% due 10/15/2037    500,000     500,717
  Series 238, 5.00% due 7/15/2040    400,000     437,082
  Sales Tax Asset Receivable Corp. (New York Local Government Assistance Corp.), Series A, 5.00% due 10/15/2029 - 10/15/2031 (pre-refunded 10/15/2024) 1,250,000   1,256,160
  Tompkins County Development Corp. (Ithaca College), 5.00% due 7/1/2027 - 7/1/2034    610,000     624,664
  Triborough Bridge & Tunnel Authority, Series A, 5.00% due 11/15/2033    250,000     252,912
  Triborough Bridge & Tunnel Authority (MTA Bridges & Tunnels), Series A, 5.00% due 11/15/2029 1,000,000   1,001,021
  Troy Capital Resource Corp. (Rensselaer Polytechnic Institute), Series A, 5.00% due 9/1/2033    645,000     697,563
  Westchester County Local Development Corp. (Miriam Osborn Memorial Home Association Obligated Group), 5.00% due 7/1/2026 - 7/1/2034   780,000    789,574
  TOTAL LONG-TERM MUNICIPAL BONDS — 94.5% (Cost $23,957,051)           $24,177,064
  SHORT-TERM MUNICIPAL BONDS — 4.3%    
a New York City Municipal Water Finance Authority (New York City Water & Sewer System; SPA Barclays Bank plc), Series BB-4, 4.90% due 6/15/2050 (put 7/1/2024) 1,100,000  1,100,000
  TOTAL SHORT-TERM MUNICIPAL BONDS — 4.3% (Cost $1,100,000)            $1,100,000
  Total Investments — 98.8% (Cost $25,057,051)   $25,277,064
SCHEDULE OF INVESTMENTS, Continued
Thornburg New York Intermediate Municipal Fund June 30, 2024 (Unaudited)
ISSUER-DESCRIPTION PRINCIPAL
AMOUNT 		VALUE
  Other Assets Less Liabilities — 1.2%   307,672
  Net Assets — 100.0%   $25,584,736
    
Footnote Legend
a Variable, floating, step, or fixed to floating rate securities are securities for which interest rate changes are based on changes in a designated base rate or on a predetermined schedule. The rates shown are those in effect on June 30, 2024.
Portfolio Abbreviations
To simplify the listings of securities, abbreviations are used per the table below:
AGC Insured by Assured Guaranty Corp.
AGM Insured by Assured Guaranty Municipal Corp.
AMT Alternative Minimum Tax
BAM Insured by Build America Mutual Insurance Co.
FHA Insured by Federal Housing Administration
FNMA Collateralized by Federal National Mortgage Association
GO General Obligation
HUD Insured by Housing and Urban Development
IDC Industrial Development Corp.
SONYMA State of New York Mortgage Agency
SPA Stand-by Purchase Agreement
NOTES TO SCHEDULE OF INVESTMENTS
Thornburg New York Intermediate Municipal Fund June 30, 2024 (Unaudited)
NOTE 1 – ORGANIZATION
Thornburg New York Intermediate Municipal Fund (the “Fund”) is a non-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-four separate series of the Trust. Each series is considered to be a separate entity for financial reporting and tax purposes. The Fund currently offers two classes of shares of beneficial interest: Class A and Institutional Class (“Class I”).
NOTE 2 – SECURITY VALUATION
Valuation of the Fund’s portfolio investment securities is performed by Thornburg Investment Management, Inc., the Trust’s investment advisor (the "Advisor"), which has been designated by the Trustees of the Trust (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.
Valuation of Securities: 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.