THORNBURG INVESTMENT TRUST
NSAR-A, 1998-05-29
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<PAGE>      PAGE  1
000 A000000 03/31/98
000 C000000 0000816153
000 D000000 N
000 E000000 NF
000 F000000 Y
000 G000000 N
000 H000000 N
000 I000000 3.0.a
000 J000000 A
001 A000000 THORNBURG INVESTMENT TRUST
001 B000000 811-5201
001 C000000 5059840200
002 A000000 119 E. MARCY ST., SUITE 202
002 B000000 SANTA FE
002 C000000 NM
002 D010000 87501
003  000000 N
004  000000 N
005  000000 N
006  000000 N
007 A000000 Y
007 B000000  7
007 C010100  1
007 C020100 THORNBURG LIMITED TERM U.S. GOVERNMENT FUND
007 C030100 N
007 C010200  2
007 C020200 THORNBURG NEW MEXICO INTERMEDIATE MUNI FUND
007 C030200 N
007 C010300  3
007 C020300 THORNBURG INTERMEDIATE MUNICIPAL - NATIONAL
007 C030300 N
007 C010400  4
007 C020400 THORNBURG LIMITED TERM INCOME FUND
007 C030400 N
007 C010500  5
007 C020500 THORNBURG VALUE FUND
007 C030500 N
007 C010600  6
007 C020600 THORNBURG FLORIDA INTERMEDIATE MUNI FUND
007 C030600 N
007 C010700  7
007 C010800  8
007 C010900  9
007 C011000 10
008 A00AA01 THORNBURG MANAGEMENT COMPANY
008 B00AA01 A
008 C00AA01 801-17853
008 D01AA01 SANTA FE
008 D02AA01 NM
008 D03AA01 87501
011 A00AA01 THORNBURG SECURITIES CORPORATION
<PAGE>      PAGE  2
011 B00AA01 8-31249
011 C01AA01 SANTA FE
011 C02AA01 NM
011 C03AA01 87501
013 A00AA01 MCGLADREY & PULLEN
013 B01AA01 NEW YORK
013 B02AA01 NY
013 B03AA01 10017
013 B04AA01 2146
015 A00AA01 STATE STREET BANK & TRUST
015 B00AA01 C
015 C01AA01 NORTH QUINCY
015 C02AA01 MA
015 C03AA01 02171
015 E06AA01 X
018  00AA00 Y
019 A00AA00 Y
019 B00AA00    9
019 C00AA00 -THORNBURG
020 A000001 MERRILL LYNCH PIERCE
020 B000001 13-5674085
020 C000001     21
020 A000002 GOLDMAN SACHS & CO
020 B000002 13-5108880
020 C000002     16
020 A000003 EDWARDS A G & SONS
020 B000003 43-0895447
020 C000003     15
020 A000004 DONALDSON, LUFKIN, & JENRETTE
020 B000004 13-2741729
020 C000004     14
020 A000005 RAYMOND JAMES AND ASSOCIATES
020 B000005 59-1237041
020 C000005     14
020 A000006 LEHMAN BROS INC.
020 B000006 13-2726611
020 C000006     13
020 A000007 CANTOR FITZGERALD & CO., INC.
020 B000007 13-3680184
020 C000007     13
020 A000008 MCDONALD & CO.
020 B000008 34-1391952
020 C000008     10
020 A000009 PAINE WEBBER INC.
020 B000009 13-2638166
020 C000009      9
020 A000010 BT ALEX BROWN
020 B000010 52-1319768
020 C000010      6
021  000000      219
022 A000001 MERRILL LYNCH PIERCE FENNER
<PAGE>      PAGE  3
022 B000001 13-5674085
022 C000001    101965
022 D000001     10104
022 A000002 PAINE WEBBER INC.
022 B000002 13-2638166
022 C000002     30657
022 D000002     33211
022 A000003 DONALDSON LUFKIN
022 B000003 13-2741729
022 C000003     22360
022 D000003      7996
022 A000004 BEAR STEARNS
022 B000004 13-3299429
022 C000004     11238
022 D000004     18853
022 A000005 LEHMAN BROS
022 B000005 13-2726611
022 C000005     19609
022 D000005      3555
022 A000006 CHASE MANHATTAN
022 B000006 76-0159718
022 C000006     19165
022 D000006      3342
022 A000007 MORGAN J.P. SECURITIES
022 B000007 13-3224016
022 C000007      3836
022 D000007     18551
022 A000008 MORGAN STANLEY
022 B000008 13-2655998
022 C000008      6562
022 D000008      7506
022 A000009 GOLDMAN SACHS
022 B000009 16-5108880
022 C000009     10554
022 D000009      1657
022 A000010 SMITH BARNEY SHEARSON
022 B000010 13-2919773
022 C000010      4909
022 D000010      5502
023 C000000     397707
023 D000000     335145
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<PAGE>      PAGE  4
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<PAGE>      PAGE  5
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<PAGE>      PAGE  6
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<PAGE>      PAGE  7
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<PAGE>      PAGE  8
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<PAGE>      PAGE  9
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<PAGE>      PAGE  10
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<PAGE>      PAGE  11
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<PAGE>      PAGE  12
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<PAGE>      PAGE  13
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<PAGE>      PAGE  14
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<PAGE>      PAGE  15
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<PAGE>      PAGE  16
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<PAGE>      PAGE  17
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<PAGE>      PAGE  18
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<PAGE>      PAGE  19
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<PAGE>      PAGE  20
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035  000500      2
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042 D000500 100
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042 F000500   0
042 G000500   0
042 H000500   0
<PAGE>      PAGE  21
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062 F000500   0.0
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062 O000500   0.0
062 P000500   0.0
062 Q000500   0.0
062 R000500   0.0
066 A000500 Y
066 B000500 N
066 C000500 N
066 D000500 N
066 E000500 Y
<PAGE>      PAGE  22
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066 G000500 N
067  000500 N
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068 B000500 N
069  000500 N
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<PAGE>      PAGE  23
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<PAGE>      PAGE  24
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033  000600      0
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042 D000600 100
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042 H000600   0
043  000600     29
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045  000600 Y
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047  000600 Y
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<PAGE>      PAGE  25
048 J020600 0.000
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062 H000600   0.0
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062 O000600  99.6
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062 R000600   0.0
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063 B000600  8.2
064 A000600 Y
064 B000600 N
066 A000600 N
067  000600 N
068 A000600 N
068 B000600 N
069  000600 N
071 A000600     19223
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<PAGE>      PAGE  26
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<PAGE>      PAGE  27
075 B000600    25805
076  000600     0.00
SIGNATURE   VAN J. BILLOPS                               
TITLE       ASSISTANT VICE PRES.
 

WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - A
       
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - C
       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 1
   <NAME> THORNBURG LIMITED TERM U.S. GOVERNMENT FUND - I
       
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 2
   <NAME> THORNBURG NEW MEXICO INTERMEDIATE MUNICIPAL FUND - A
       
<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND - A
       
<S>                             <C>
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<EXPENSE-RATIO>                                   1.00
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND - C
       
<S>                             <C>
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<PAYABLE-FOR-SECURITIES>                     5,485,431
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<REALIZED-GAINS-CURRENT>                        27,336
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<EQUALIZATION>                                       0
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<AVERAGE-NET-ASSETS>                       349,185,697
<PER-SHARE-NAV-BEGIN>                            13.48
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<EXPENSE-RATIO>                                   1.40
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 3
   <NAME> THORNBURG INTERMEDIATE MUNICIPAL FUND - I
       
<S>                             <C>
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<PAID-IN-CAPITAL-COMMON>                   358,281,090
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<APPREC-INCREASE-CURRENT>                    2,329,954
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<EXPENSE-RATIO>                                    .69
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND - A
       
<S>                             <C>
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<PERIOD-END>                               MAR-31-1998
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<RECEIVABLES>                                1,142,879
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<SHARES-COMMON-STOCK>                        2,755,003
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<REALIZED-GAINS-CURRENT>                     (317,323)
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<NUMBER-OF-SHARES-SOLD>                        500,364
<NUMBER-OF-SHARES-REDEEMED>                  (313,485)
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<INTEREST-EXPENSE>                                   0
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<AVERAGE-NET-ASSETS>                        43,705,371
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<PER-SHARE-GAIN-APPREC>                          (.03)
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<EXPENSE-RATIO>                                   1.00
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND - C
       
<S>                             <C>
<PERIOD-TYPE>                   6-MOS
<FISCAL-YEAR-END>                          SEP-30-1998
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<INVESTMENTS-AT-VALUE>                      46,067,825
<RECEIVABLES>                                1,142,879
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<PAYABLE-FOR-SECURITIES>                             0
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<OTHER-ITEMS-LIABILITIES>                      349,963
<TOTAL-LIABILITIES>                            349,963
<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                    49,842,587
<SHARES-COMMON-STOCK>                          580,720
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<ACCUM-APPREC-OR-DEPREC>                     1,305,734
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<DIVIDEND-INCOME>                                    0
<INTEREST-INCOME>                            1,495,735
<OTHER-INCOME>                                       0
<EXPENSES-NET>                               (221,070)
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<REALIZED-GAINS-CURRENT>                     (317,323)
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<NET-CHANGE-FROM-OPS>                        1,189,297
<EQUALIZATION>                                       0
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<NUMBER-OF-SHARES-SOLD>                        191,928
<NUMBER-OF-SHARES-REDEEMED>                   (57,062)
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<GROSS-EXPENSE>                                281,689
<AVERAGE-NET-ASSETS>                        43,705,371
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 4
   <NAME> THORNBURG LIMITED TERM INCOME FUND - I
       
<S>                             <C>
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</TABLE>
WARNING: THE EDGAR SYSTEM ENCOUNTERED ERROR(S) WHILE PROCESSING THIS SCHEDULE.

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 5
   <NAME> THORNBURG VALUE FUND - A
       
<S>                             <C>
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<SENIOR-EQUITY>                                      0
<PAID-IN-CAPITAL-COMMON>                   104,931,049
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<NUMBER-OF-SHARES-REDEEMED>                  (264,653)
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<PER-SHARE-NAV-END>                              22.54
<EXPENSE-RATIO>                                   1.56
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 5
   <NAME> THORNBURG VALUE FUND - C
       
<S>                             <C>
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<FISCAL-YEAR-END>                          SEP-30-1998
<PERIOD-END>                               MAR-31-1998
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<INVESTMENTS-AT-VALUE>                     129,754,965
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<PAYABLE-FOR-SECURITIES>                     3,558,600
<SENIOR-LONG-TERM-DEBT>                              0
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<NUMBER-OF-SHARES-REDEEMED>                   (25,670)
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<PER-SHARE-DIVIDEND>                             (.01)
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<EXPENSE-RATIO>                                   2.41
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</TABLE>

<TABLE> <S> <C>

<ARTICLE> 6
<CIK> 0000816153
<NAME> THORNBURG INVESTMENT TRUST
<SERIES>
   <NUMBER> 6
   <NAME> THORNBURG FLORIDA INTERMEDIATE MUNI FUND (A)
       
<S>                             <C>
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<PERIOD-END>                               MAR-31-1998
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</TABLE>


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