Western Asset Funds NPORT-P Western Asset Core Plus Bond Fund (Mar 2022 report)

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CORPORATE BONDS & NOTES - 33.8%
COMMUNICATION SERVICES - 4.3%
Diversified Telecommunication Services - 1.5%
Altice France SA, Senior Secured Notes		5.500	%		1/15/28		300,000	$	278,619	(a)
Altice France SA, Senior Secured Notes		5.500	%		10/15/29		7,043,000		6,329,122	(a)
AT&T Inc., Senior Notes		3.800	%		2/15/27		1,250,000		1,279,689
AT&T Inc., Senior Notes		2.300	%		6/1/27		25,680,000		24,510,991
AT&T Inc., Senior Notes		1.650	%		2/1/28		37,680,000		34,399,189
AT&T Inc., Senior Notes		2.250	%		2/1/32		16,870,000		14,984,486
AT&T Inc., Senior Notes		2.550	%		12/1/33		10,540,000		9,385,238
AT&T Inc., Senior Notes		5.350	%		9/1/40		4,390,000		5,039,344
AT&T Inc., Senior Notes		5.550	%		8/15/41		5,040,000		5,895,490
AT&T Inc., Senior Notes		3.100	%		2/1/43		26,840,000		23,239,675
AT&T Inc., Senior Notes		4.350	%		6/15/45		6,469,000		6,548,379
AT&T Inc., Senior Notes		3.300	%		2/1/52		4,250,000		3,656,431
AT&T Inc., Senior Notes		3.500	%		9/15/53		24,380,000		21,485,228
AT&T Inc., Senior Notes		3.550	%		9/15/55		25,651,000		22,711,098
AT&T Inc., Senior Notes		3.800	%		12/1/57		1,520,000		1,392,804
AT&T Inc., Senior Notes		3.650	%		9/15/59		4,690,000		4,129,113
Telefonica Emisiones SA, Senior Notes		5.213	%		3/8/47		6,160,000		6,626,603
Telefonica Emisiones SA, Senior Notes		4.895	%		3/6/48		11,960,000		12,414,058
Verizon Communications Inc., Senior Notes		2.625	%		8/15/26		5,622,000		5,504,311
Verizon Communications Inc., Senior Notes		4.125	%		3/16/27		5,755,000		5,988,563
Verizon Communications Inc., Senior Notes		3.000	%		3/22/27		4,820,000		4,771,529
Verizon Communications Inc., Senior Notes		2.100	%		3/22/28		13,470,000		12,581,664
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		27,937,000		29,514,572
Verizon Communications Inc., Senior Notes		3.875	%		2/8/29		4,900,000		5,103,309
Verizon Communications Inc., Senior Notes		3.150	%		3/22/30		10,510,000		10,349,757
Verizon Communications Inc., Senior Notes		1.750	%		1/20/31		13,790,000		12,042,241

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         1

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Telecommunication Services - (continued)
Verizon Communications Inc., Senior Notes		2.550	%		3/21/31		41,290,000	$	38,418,035
Verizon Communications Inc., Senior Notes		2.355	%		3/15/32		60,729,000		54,953,651	(a)
Verizon Communications Inc., Senior Notes		4.500	%		8/10/33		23,345,000		25,109,335
Verizon Communications Inc., Senior Notes		4.400	%		11/1/34		2,200,000		2,346,915
Verizon Communications Inc., Senior Notes		4.272	%		1/15/36		1,140,000		1,204,386
Verizon Communications Inc., Senior Notes		5.250	%		3/16/37		11,010,000		12,864,322
Verizon Communications Inc., Senior Notes		2.650	%		11/20/40		32,010,000		27,312,071
Verizon Communications Inc., Senior Notes		3.400	%		3/22/41		4,410,000		4,145,821
Verizon Communications Inc., Senior Notes		3.850	%		11/1/42		4,840,000		4,850,061
Verizon Communications Inc., Senior Notes		4.125	%		8/15/46		9,310,000		9,600,117
Verizon Communications Inc., Senior Notes		4.862	%		8/21/46		12,748,000		14,686,985
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		1,455,000		1,823,330
Verizon Communications Inc., Senior Notes		4.000	%		3/22/50		24,170,000		24,631,831
Verizon Communications Inc., Senior Notes		2.875	%		11/20/50		47,510,000		39,842,811
Verizon Communications Inc., Senior Notes		3.550	%		3/22/51		20,000,000		18,874,280
Total Diversified Telecommunication Services									570,825,454
Entertainment - 0.3%
Magallanes Inc., Senior Notes		3.755	%		3/15/27		6,560,000		6,559,002	(a)
Magallanes Inc., Senior Notes		4.054	%		3/15/29		9,150,000		9,205,961	(a)
Magallanes Inc., Senior Notes		4.279	%		3/15/32		54,790,000		55,101,624	(a)
Magallanes Inc., Senior Notes		5.050	%		3/15/42		3,380,000		3,454,710	(a)
Magallanes Inc., Senior Notes		5.141	%		3/15/52		39,790,000		40,803,481	(a)
Walt Disney Co., Senior Notes		6.200	%		12/15/34		260,000		327,952
Walt Disney Co., Senior Notes		6.650	%		11/15/37		5,240,000		7,000,100
Total Entertainment									122,452,830

See Notes to Schedule of Investments.

    2     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Interactive Media & Services - 0.2%
Alphabet Inc., Senior Notes		0.450	%		8/15/25		3,590,000	$	3,353,273
Alphabet Inc., Senior Notes		0.800	%		8/15/27		6,770,000		6,121,073
Alphabet Inc., Senior Notes		1.100	%		8/15/30		7,900,000		6,913,533
Alphabet Inc., Senior Notes		2.050	%		8/15/50		12,760,000		10,098,507
Tencent Holdings Ltd., Senior Notes		3.680	%		4/22/41		5,650,000		5,006,302	(a)
Tencent Holdings Ltd., Senior Notes		3.840	%		4/22/51		39,900,000		34,694,285	(a)
Total Interactive Media & Services									66,186,973
Media - 1.6%
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		5.125	%		5/1/27		7,837,000		7,858,944	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		5.000	%		2/1/28		5,450,000		5,403,184	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		8/15/30		1,460,000		1,372,396	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.250	%		2/1/31		9,610,000		8,733,520	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.750	%		2/1/32		11,470,000		10,698,298	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		5/1/32		27,063,000		24,792,414
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		6/1/33		6,090,000		5,474,727	(a)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.908	%		7/23/25		29,327,000		30,440,795
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.200	%		3/15/28		55,869,000		56,561,858
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.050	%		3/30/29		19,860,000		21,054,427
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		2.800	%		4/1/31		5,450,000		4,920,244

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         3

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.400	%		4/1/33		18,970,000	$	18,940,137
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		4/1/38		9,215,000		9,486,639
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		3.500	%		3/1/42		6,700,000		5,558,170
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.484	%		10/23/45		6,620,000		7,556,218
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.750	%		4/1/48		20,450,000		21,803,649
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.125	%		7/1/49		10,000,000		9,950,940
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.800	%		3/1/50		6,040,000		5,755,591
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.834	%		10/23/55		2,608,000		3,101,124
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.500	%		4/1/63		11,060,000		11,158,158
Comcast Cable Communications Holdings Inc., Senior Notes		9.455	%		11/15/22		3,150,000		3,297,217
Comcast Corp., Senior Notes		3.375	%		8/15/25		3,940,000		3,994,403
Comcast Corp., Senior Notes		3.950	%		10/15/25		26,460,000		27,348,701
Comcast Corp., Senior Notes		3.150	%		3/1/26		9,960,000		10,055,222
Comcast Corp., Senior Notes		3.300	%		4/1/27		12,400,000		12,560,168

See Notes to Schedule of Investments.

    4     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Comcast Corp., Senior Notes		4.150	%		10/15/28		55,830,000	$	58,753,168
Comcast Corp., Senior Notes		3.400	%		4/1/30		7,960,000		8,074,407
Comcast Corp., Senior Notes		4.250	%		10/15/30		20,418,000		21,811,786
Comcast Corp., Senior Notes		4.250	%		1/15/33		1,710,000		1,850,249
Comcast Corp., Senior Notes		4.200	%		8/15/34		244,000		260,912
Comcast Corp., Senior Notes		5.650	%		6/15/35		60,000		72,017
Comcast Corp., Senior Notes		6.500	%		11/15/35		451,000		584,699
Comcast Corp., Senior Notes		3.900	%		3/1/38		8,310,000		8,587,182
Comcast Corp., Senior Notes		3.250	%		11/1/39		1,580,000		1,503,511
Comcast Corp., Senior Notes		3.750	%		4/1/40		7,620,000		7,699,291
Comcast Corp., Senior Notes		3.400	%		7/15/46		1,550,000		1,461,343
Comcast Corp., Senior Notes		4.000	%		8/15/47		2,990,000		3,063,314
Comcast Corp., Senior Notes		3.969	%		11/1/47		221,000		225,467
Comcast Corp., Senior Notes		4.000	%		3/1/48		2,230,000		2,297,002
Comcast Corp., Senior Notes		3.999	%		11/1/49		9,626,000		9,750,822
Comcast Corp., Senior Notes		3.450	%		2/1/50		2,427,000		2,280,908
Comcast Corp., Senior Notes		2.800	%		1/15/51		9,010,000		7,632,034
Comcast Corp., Senior Notes		2.887	%		11/1/51		12,680,000		10,742,844	(a)
Comcast Corp., Senior Notes		2.937	%		11/1/56		4,834,000		4,012,508	(a)
CSC Holdings LLC, Senior Notes		3.375	%		2/15/31		2,720,000		2,295,095	(a)
DISH DBS Corp., Senior Notes		5.875	%		11/15/24		11,864,000		11,850,534
DISH DBS Corp., Senior Notes		7.750	%		7/1/26		5,360,000		5,331,833
DISH DBS Corp., Senior Notes		5.125	%		6/1/29		12,390,000		10,567,431
DISH DBS Corp., Senior Secured Notes		5.250	%		12/1/26		6,330,000		6,041,194	(a)
DISH DBS Corp., Senior Secured Notes		5.750	%		12/1/28		1,120,000		1,061,900	(a)
Fox Corp., Senior Notes		5.476	%		1/25/39		13,410,000		15,218,373
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		4,570,000		5,266,957
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		8,925,000		10,859,505
Time Warner Cable LLC, Senior Secured Notes		6.750	%		6/15/39		3,295,000		3,829,227
Time Warner Cable LLC, Senior Secured Notes		5.875	%		11/15/40		8,447,000		9,099,684

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         5

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Time Warner Entertainment Co. LP,
Senior Secured Notes		8.375	%		7/15/33		2,060,000	$	2,693,909
Virgin Media Secured Finance PLC,
Senior Secured Notes		5.500	%		5/15/29		10,960,000		10,895,391	(a)
Total Media									573,551,641
Wireless Telecommunication Services - 0.7%
CSC Holdings LLC, Senior Notes		5.375	%		2/1/28		760,000		738,963	(a)
CSC Holdings LLC, Senior Notes		4.125	%		12/1/30		750,000		658,654	(a)
CSC Holdings LLC, Senior Notes		4.500	%		11/15/31		32,320,000		29,013,502	(a)
Sprint Capital Corp., Senior Notes		6.875	%		11/15/28		635,000		736,924
Sprint Capital Corp., Senior Notes		8.750	%		3/15/32		14,390,000		19,410,455
Sprint Corp., Senior Notes		7.875	%		9/15/23		930,000		989,283
Sprint Corp., Senior Notes		7.625	%		2/15/25		5,365,000		5,854,261
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes		4.738	%		3/20/25		1,267,500		1,294,664	(a)
T-Mobile USA Inc., Senior Notes		2.250	%		2/15/26		3,600,000		3,396,240
T-Mobile USA Inc., Senior Notes		2.625	%		2/15/29		16,630,000		15,201,400
T-Mobile USA Inc., Senior Notes		3.375	%		4/15/29		9,713,000		9,251,633
T-Mobile USA Inc., Senior Notes		2.875	%		2/15/31		8,370,000		7,553,925
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/31		14,350,000		13,525,449
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/31		13,570,000		12,790,268	(a)
T-Mobile USA Inc., Senior Secured Notes		3.500	%		4/15/25		57,300,000		57,737,926
T-Mobile USA Inc., Senior Secured Notes		3.750	%		4/15/27		2,920,000		2,941,958
T-Mobile USA Inc., Senior Secured Notes		3.875	%		4/15/30		49,585,000		49,845,926
T-Mobile USA Inc., Senior Secured Notes		2.550	%		2/15/31		9,660,000		8,774,963
T-Mobile USA Inc., Senior Secured Notes		4.375	%		4/15/40		4,880,000		4,915,284
Vmed O2 UK Financing I PLC, Senior Secured Notes		4.750	%		7/15/31		1,140,000		1,076,154	(a)
Vodafone Group PLC, Senior Notes		4.375	%		5/30/28		16,300,000		17,078,022
Total Wireless Telecommunication Services									262,785,854
TOTAL COMMUNICATION SERVICES									1,595,802,752

See Notes to Schedule of Investments.

    6     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CONSUMER DISCRETIONARY - 2.5%
Automobiles - 0.7%
Ford Motor Co., Senior Notes		3.250	%		2/12/32		20,250,000	$	18,119,903
Ford Motor Co., Senior Notes		4.750	%		1/15/43		2,720,000		2,475,350
Ford Motor Credit Co. LLC, Senior Notes		3.664	%		9/8/24		1,190,000		1,177,618
Ford Motor Credit Co. LLC, Senior Notes		5.125	%		6/16/25		3,120,000		3,186,206
Ford Motor Credit Co. LLC, Senior Notes		3.375	%		11/13/25		4,120,000		4,031,544
Ford Motor Credit Co. LLC, Senior Notes		4.950	%		5/28/27		28,210,000		28,719,190
Ford Motor Credit Co. LLC, Senior Notes		4.125	%		8/17/27		8,460,000		8,279,717
Ford Motor Credit Co. LLC, Senior Notes		3.815	%		11/2/27		550,000		522,079
Ford Motor Credit Co. LLC, Senior Notes		2.900	%		2/16/28		13,780,000		12,483,233
Ford Motor Credit Co. LLC, Senior Notes		2.900	%		2/10/29		825,000		735,999
Ford Motor Credit Co. LLC, Senior Notes		5.113	%		5/3/29		8,435,000		8,499,950
Ford Motor Credit Co. LLC, Senior Notes		4.000	%		11/13/30		33,395,000		31,501,170
Ford Motor Credit Co. LLC, Senior Notes		3.625	%		6/17/31		17,640,000		15,964,376
General Motors Co., Senior Notes		5.400	%		10/2/23		5,770,000		5,972,605
General Motors Co., Senior Notes		6.125	%		10/1/25		10,170,000		10,927,267
General Motors Co., Senior Notes		6.600	%		4/1/36		1,170,000		1,362,231
General Motors Co., Senior Notes		5.150	%		4/1/38		2,050,000		2,088,618
General Motors Co., Senior Notes		6.250	%		10/2/43		3,640,000		4,140,702
General Motors Co., Senior Notes		5.950	%		4/1/49		8,120,000		9,056,999
General Motors Financial Co. Inc., Senior Notes		3.450	%		4/10/22		7,930,000		7,932,765
General Motors Financial Co. Inc., Senior Notes		4.250	%		5/15/23		920,000		931,761
General Motors Financial Co. Inc., Senior Notes		4.350	%		1/17/27		2,340,000		2,383,242
General Motors Financial Co. Inc., Senior Notes		3.100	%		1/12/32		5,140,000		4,626,197
Nissan Motor Co. Ltd., Senior Notes		3.043	%		9/15/23		18,310,000		18,278,399	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         7

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Automobiles - (continued)
Nissan Motor Co. Ltd., Senior Notes		3.522	%		9/17/25		40,950,000	$	40,183,192	(a)
Nissan Motor Co. Ltd., Senior Notes		4.345	%		9/17/27		35,280,000		34,829,399	(a)
Total Automobiles									278,409,712
Diversified Consumer Services - 0.0%††
Prime Security Services Borrower LLC/Prime Finance Inc., Senior Secured Notes		5.750	%		4/15/26		8,450,000		8,629,985	(a)
Service Corp. International, Senior Notes		7.500	%		4/1/27		3,167,000		3,484,476
Total Diversified Consumer Services									12,114,461
Hotels, Restaurants & Leisure - 0.8%
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		5.750	%		4/15/25		1,225,000		1,261,836	(a)
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.875	%		1/15/28		3,060,000		2,905,103	(a)
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.500	%		2/15/29		3,010,000		2,783,347	(a)
GLP Capital LP/GLP Financing II Inc., Senior Notes		5.250	%		6/1/25		320,000		329,819
GLP Capital LP/GLP Financing II Inc., Senior Notes		5.375	%		4/15/26		1,996,000		2,087,883
Hilton Domestic Operating Co. Inc., Senior Notes		5.375	%		5/1/25		10,770,000		11,032,788	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		5.750	%		5/1/28		4,400,000		4,558,180	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		3.625	%		2/15/32		3,130,000		2,845,749	(a)
Hilton Worldwide Finance LLC/Hilton Worldwide Finance Corp., Senior Notes		4.875	%		4/1/27		4,930,000		4,971,954
Las Vegas Sands Corp., Senior Notes		3.200	%		8/8/24		45,810,000		43,768,240
Las Vegas Sands Corp., Senior Notes		2.900	%		6/25/25		23,330,000		21,764,319
McDonald’s Corp., Senior Notes		3.375	%		5/26/25		1,719,000		1,748,704
McDonald’s Corp., Senior Notes		3.300	%		7/1/25		9,140,000		9,252,450
McDonald’s Corp., Senior Notes		1.450	%		9/1/25		2,140,000		2,048,000
McDonald’s Corp., Senior Notes		3.700	%		1/30/26		11,725,000		12,020,296
McDonald’s Corp., Senior Notes		3.500	%		3/1/27		12,680,000		12,922,778
McDonald’s Corp., Senior Notes		3.500	%		7/1/27		8,380,000		8,531,767
McDonald’s Corp., Senior Notes		3.800	%		4/1/28		4,300,000		4,432,480
McDonald’s Corp., Senior Notes		3.600	%		7/1/30		9,300,000		9,481,480

See Notes to Schedule of Investments.

    8     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Hotels, Restaurants & Leisure - (continued)
McDonald’s Corp., Senior Notes		3.625	%		9/1/49		1,610,000	$	1,546,065
McDonald’s Corp., Senior Notes		4.200	%		4/1/50		25,460,000		26,665,637
Sands China Ltd., Senior Notes		5.125	%		8/8/25		17,040,000		16,976,100
Sands China Ltd., Senior Notes		3.800	%		1/8/26		7,500,000		7,134,375
Sands China Ltd., Senior Notes		2.550	%		3/8/27		20,750,000		18,125,125	(a)
Sands China Ltd., Senior Notes		5.400	%		8/8/28		6,900,000		6,798,018
Sands China Ltd., Senior Notes		3.100	%		3/8/29		14,360,000		12,277,800	(a)
Sands China Ltd., Senior Notes		3.250	%		8/8/31		10,910,000		8,946,200	(a)
VOC Escrow Ltd., Senior Secured Notes		5.000	%		2/15/28		9,225,000		8,598,992	(a)
Wynn Macau Ltd., Senior Notes		5.625	%		8/26/28		21,370,000		18,605,363	(a)
Wynn Macau Ltd., Senior Notes		5.125	%		12/15/29		790,000		671,069	(a)
Total Hotels, Restaurants & Leisure									285,091,917
Household Durables - 0.0%††
Lennar Corp., Senior Notes		4.500	%		4/30/24		4,650,000		4,770,062
Lennar Corp., Senior Notes		4.750	%		5/30/25		1,350,000		1,399,022
Lennar Corp., Senior Notes		5.000	%		6/15/27		20,000		20,982
Lennar Corp., Senior Notes		4.750	%		11/29/27		6,200,000		6,466,450
MDC Holdings Inc., Senior Notes		6.000	%		1/15/43		540,000		555,646
Newell Brands Inc., Senior Notes		4.100	%		4/1/23		2,188,000		2,211,931
Newell Brands Inc., Senior Notes		4.450	%		4/1/26		150,000		151,126
Toll Brothers Finance Corp., Senior Notes		4.375	%		4/15/23		4,740,000		4,789,913
Total Household Durables									20,365,132
Internet & Direct Marketing Retail - 0.6%
Amazon.com Inc., Senior Notes		0.800	%		6/3/25		17,270,000		16,351,112
Amazon.com Inc., Senior Notes		1.200	%		6/3/27		21,140,000		19,526,733
Amazon.com Inc., Senior Notes		3.150	%		8/22/27		15,280,000		15,495,938
Amazon.com Inc., Senior Notes		1.500	%		6/3/30		10,213,000		9,151,713
Amazon.com Inc., Senior Notes		2.100	%		5/12/31		9,530,000		8,867,594
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		6,800,000		7,214,639
Amazon.com Inc., Senior Notes		4.950	%		12/5/44		10,095,000		12,303,590
Amazon.com Inc., Senior Notes		4.050	%		8/22/47		8,290,000		9,045,622
Amazon.com Inc., Senior Notes		2.500	%		6/3/50		16,950,000		14,197,718
Amazon.com Inc., Senior Notes		3.100	%		5/12/51		10,000,000		9,431,321
Amazon.com Inc., Senior Notes		4.250	%		8/22/57		3,240,000		3,682,317
Prosus NV, Senior Notes		3.061	%		7/13/31		72,750,000		60,537,723	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         9

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Internet & Direct Marketing Retail - (continued)
Prosus NV, Senior Notes		4.027	%		8/3/50		24,470,000	$	18,523,422	(a)
Prosus NV, Senior Notes		3.832	%		2/8/51		3,740,000		2,734,887	(a)
Total Internet & Direct Marketing Retail									207,064,329
Multiline Retail - 0.0%††
Dollar General Corp., Senior Notes		3.250	%		4/15/23		1,380,000		1,390,508
Target Corp., Senior Notes		2.250	%		4/15/25		13,960,000		13,776,212
Total Multiline Retail									15,166,720
Specialty Retail - 0.2%
Home Depot Inc., Senior Notes		2.500	%		4/15/27		8,648,000		8,503,388
Home Depot Inc., Senior Notes		3.900	%		12/6/28		1,590,000		1,666,174
Home Depot Inc., Senior Notes		2.700	%		4/15/30		9,310,000		9,031,318
Home Depot Inc., Senior Notes		3.300	%		4/15/40		10,560,000		10,207,728
Home Depot Inc., Senior Notes		3.900	%		6/15/47		1,736,000		1,815,923
Home Depot Inc., Senior Notes		3.350	%		4/15/50		28,325,000		26,806,978
Lowe’s Cos. Inc., Senior Notes		4.500	%		4/15/30		5,940,000		6,363,628
Total Specialty Retail									64,395,137
Textiles, Apparel & Luxury Goods - 0.2%
Hanesbrands Inc., Senior Notes		4.625	%		5/15/24		1,177,000		1,196,609	(a)
Hanesbrands Inc., Senior Notes		4.875	%		5/15/26		4,810,000		4,846,075	(a)
NIKE Inc., Senior Notes		2.400	%		3/27/25		7,830,000		7,782,810
NIKE Inc., Senior Notes		2.750	%		3/27/27		12,570,000		12,522,438
NIKE Inc., Senior Notes		2.850	%		3/27/30		12,240,000		12,099,958
NIKE Inc., Senior Notes		3.250	%		3/27/40		6,300,000		6,148,099
NIKE Inc., Senior Notes		3.375	%		3/27/50		15,332,000		15,281,384
Total Textiles, Apparel & Luxury Goods									59,877,373
TOTAL CONSUMER DISCRETIONARY									942,484,781
CONSUMER STAPLES - 1.8%
Beverages - 0.7%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.650	%		2/1/26		37,240,000		38,103,385
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		22,020,000		24,524,628
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.000	%		4/13/28		8,060,000		8,366,605
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		28,360,000		30,774,866

See Notes to Schedule of Investments.

    10     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Beverages - (continued)
Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.500	%		6/1/30		5,700,000	$	5,788,007
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.350	%		6/1/40		17,580,000		18,340,608
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.600	%		4/15/48		2,350,000		2,544,673
Anheuser-Busch InBev Worldwide Inc., Senior Notes		5.550	%		1/23/49		5,670,000		6,940,447
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.500	%		6/1/50		33,120,000		35,499,084
Coca-Cola Co., Senior Notes		3.375	%		3/25/27		7,590,000		7,775,270
Coca-Cola Co., Senior Notes		1.450	%		6/1/27		15,310,000		14,386,797
Coca-Cola Co., Senior Notes		2.500	%		6/1/40		3,050,000		2,714,665
Coca-Cola Co., Senior Notes		2.600	%		6/1/50		6,290,000		5,390,094
Constellation Brands Inc., Senior Notes		4.250	%		5/1/23		1,395,000		1,421,591
Diageo Investment Corp., Senior Notes		2.875	%		5/11/22		15,570,000		15,578,403
Molson Coors Beverage Co., Senior Notes		3.500	%		5/1/22		1,370,000		1,371,767
Molson Coors Beverage Co., Senior Notes		3.000	%		7/15/26		3,245,000		3,208,941
Molson Coors Beverage Co., Senior Notes		4.200	%		7/15/46		3,390,000		3,299,071
PepsiCo Inc., Senior Notes		0.750	%		5/1/23		16,050,000		15,827,466
PepsiCo Inc., Senior Notes		2.250	%		3/19/25		1,580,000		1,564,558
PepsiCo Inc., Senior Notes		2.625	%		3/19/27		1,617,000		1,608,885
PepsiCo Inc., Senior Notes		1.625	%		5/1/30		13,210,000		11,893,724
PepsiCo Inc., Senior Notes		2.875	%		10/15/49		4,750,000		4,414,295
Total Beverages									261,337,830
Food & Staples Retailing - 0.2%
Costco Wholesale Corp., Senior Notes		1.375	%		6/20/27		24,175,000		22,499,238
Costco Wholesale Corp., Senior Notes		1.600	%		4/20/30		13,630,000		12,228,730
CVS Pass-Through Trust, Secured Trust		5.880	%		1/10/28		2,437,246		2,600,646
CVS Pass-Through Trust, Secured Trust		6.943	%		1/10/30		1,728,316		1,934,743

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         11

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food & Staples Retailing - (continued)
CVS Pass-Through Trust, Senior Secured Trust		5.298	%		1/11/27		182,528	$	189,715	(a)
CVS Pass-Through Trust, Senior Secured Trust		6.036	%		12/10/28		6,847,625		7,333,890
Walmart Inc., Senior Notes		1.500	%		9/22/28		8,480,000		7,798,519
Walmart Inc., Senior Notes		1.800	%		9/22/31		4,050,000		3,690,178
Total Food & Staples Retailing									58,275,659
Food Products - 0.4%
Danone SA, Senior Notes		2.589	%		11/2/23		20,650,000		20,636,397	(a)
Danone SA, Senior Notes		2.947	%		11/2/26		6,540,000		6,511,456	(a)
Hershey Co., Senior Notes		0.900	%		6/1/25		4,030,000		3,798,240
Kraft Heinz Foods Co., Senior Notes		3.000	%		6/1/26		4,248,000		4,195,813
Kraft Heinz Foods Co., Senior Notes		4.250	%		3/1/31		3,350,000		3,453,113
Kraft Heinz Foods Co., Senior Notes		6.750	%		3/15/32		410,000		496,100
Kraft Heinz Foods Co., Senior Notes		5.000	%		7/15/35		1,661,000		1,776,905
Kraft Heinz Foods Co., Senior Notes		6.875	%		1/26/39		1,150,000		1,417,375
Kraft Heinz Foods Co., Senior Notes		7.125	%		8/1/39		290,000		367,874	(a)
Kraft Heinz Foods Co., Senior Notes		4.625	%		10/1/39		290,000		295,345
Kraft Heinz Foods Co., Senior Notes		5.000	%		6/4/42		4,160,000		4,448,496
Kraft Heinz Foods Co., Senior Notes		5.200	%		7/15/45		12,350,000		13,384,313
Kraft Heinz Foods Co., Senior Notes		4.375	%		6/1/46		5,420,000		5,373,334
Kraft Heinz Foods Co., Senior Notes		4.875	%		10/1/49		8,180,000		8,628,918
Kraft Heinz Foods Co., Senior Notes		5.500	%		6/1/50		6,530,000		7,447,661
Mars Inc., Senior Notes		2.700	%		4/1/25		9,380,000		9,303,110	(a)
Mars Inc., Senior Notes		3.200	%		4/1/30		4,880,000		4,842,574	(a)
Mars Inc., Senior Notes		2.375	%		7/16/40		6,740,000		5,652,343	(a)
Mondelez International Holdings Netherlands BV, Senior Notes		2.125	%		9/19/22		7,900,000		7,911,579	(a)
Mondelez International Inc., Senior Notes		1.500	%		5/4/25		22,350,000		21,372,327
Total Food Products									131,313,273
Household Products - 0.0%††
Procter & Gamble Co., Senior Notes		2.800	%		3/25/27		2,490,000		2,494,339
Procter & Gamble Co., Senior Notes		3.000	%		3/25/30		6,070,000		6,111,466
Spectrum Brands Inc., Senior Notes		5.750	%		7/15/25		387,000		394,798
Spectrum Brands Inc., Senior Notes		5.000	%		10/1/29		950,000		895,527	(a)
Total Household Products									9,896,130

See Notes to Schedule of Investments.

    12     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Tobacco - 0.5%
Altria Group Inc., Senior Notes		2.350	%		5/6/25		3,770,000	$	3,664,512
Altria Group Inc., Senior Notes		4.400	%		2/14/26		16,715,000		17,306,702
Altria Group Inc., Senior Notes		4.800	%		2/14/29		975,000		1,023,752
Altria Group Inc., Senior Notes		2.450	%		2/4/32		16,140,000		14,059,975
Altria Group Inc., Senior Notes		5.800	%		2/14/39		13,440,000		14,529,590
Altria Group Inc., Senior Notes		3.875	%		9/16/46		6,950,000		5,908,764
Altria Group Inc., Senior Notes		5.950	%		2/14/49		24,060,000		26,148,158
Altria Group Inc., Senior Notes		3.700	%		2/4/51		7,880,000		6,392,816
Altria Group Inc., Senior Notes		6.200	%		2/14/59		1,842,000		2,064,430
BAT Capital Corp., Senior Notes		3.557	%		8/15/27		15,851,000		15,454,178
BAT Capital Corp., Senior Notes		4.540	%		8/15/47		41,905,000		37,507,030
Cargill Inc., Senior Notes		1.375	%		7/23/23		13,510,000		13,347,890	(a)
Philip Morris International Inc., Senior Notes		2.500	%		8/22/22		4,200,000		4,220,623
Philip Morris International Inc., Senior Notes		2.500	%		11/2/22		14,810,000		14,877,571
Philip Morris International Inc., Senior Notes		1.125	%		5/1/23		8,220,000		8,127,583
Philip Morris International Inc., Senior Notes		2.100	%		5/1/30		9,050,000		8,153,860
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		3,085,000		3,103,086
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		7,579,000		7,824,248
Total Tobacco									203,714,768
TOTAL CONSUMER STAPLES									664,537,660
ENERGY - 5.8%
Energy Equipment & Services - 0.0%††
Halliburton Co., Senior Notes		3.800	%		11/15/25		326,000		333,289
Halliburton Co., Senior Notes		4.850	%		11/15/35		5,090,000		5,482,916
Halliburton Co., Senior Notes		5.000	%		11/15/45		6,490,000		7,063,152
Total Energy Equipment & Services									12,879,357
Oil, Gas & Consumable Fuels - 5.8%
Apache Corp., Senior Notes		7.750	%		12/15/29		5,170,000		6,089,717
Apache Corp., Senior Notes		4.250	%		1/15/30		10,000		10,100
Apache Corp., Senior Notes		6.000	%		1/15/37		1,006,000		1,131,700
Apache Corp., Senior Notes		5.100	%		9/1/40		12,719,000		12,839,640
Apache Corp., Senior Notes		5.250	%		2/1/42		1,646,000		1,645,391
Apache Corp., Senior Notes		4.750	%		4/15/43		10,830,000		10,257,634
Apache Corp., Senior Notes		4.250	%		1/15/44		18,548,000		16,272,346

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         13

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Apache Corp., Senior Notes		5.350	%		7/1/49		12,190,000	$	11,755,244
BP Capital Markets America Inc., Senior Notes		3.790	%		2/6/24		2,930,000		2,982,074
BP Capital Markets America Inc., Senior Notes		3.410	%		2/11/26		17,380,000		17,589,255
BP Capital Markets America Inc., Senior Notes		3.119	%		5/4/26		4,790,000		4,785,338
BP Capital Markets America Inc., Senior Notes		3.588	%		4/14/27		7,160,000		7,273,915
BP Capital Markets America Inc., Senior Notes		3.633	%		4/6/30		9,240,000		9,420,357
BP Capital Markets America Inc., Senior Notes		1.749	%		8/10/30		5,000,000		4,428,472
BP Capital Markets America Inc., Senior Notes		3.000	%		2/24/50		28,090,000		24,371,249
BP Capital Markets America Inc., Senior Notes		2.772	%		11/10/50		1,860,000		1,560,178
BP Capital Markets America Inc., Senior Notes		2.939	%		6/4/51		1,140,000		977,766
BP Capital Markets PLC, Senior Notes		3.535	%		11/4/24		2,390,000		2,429,569
BP Capital Markets PLC, Senior Notes		3.506	%		3/17/25		21,110,000		21,527,844
Cameron LNG LLC, Senior Secured Notes		2.902	%		7/15/31		7,790,000		7,451,076	(a)
Cameron LNG LLC, Senior Secured Notes		3.302	%		1/15/35		17,811,000		16,784,216	(a)
Cheniere Energy Inc., Senior Secured Notes		4.625	%		10/15/28		8,500,000		8,539,312
Cheniere Energy Partners LP, Senior Notes		4.000	%		3/1/31		3,721,000		3,612,886
Cheniere Energy Partners LP, Senior Notes		3.250	%		1/31/32		19,660,000		17,908,196	(a)
Chevron Corp., Senior Notes		1.554	%		5/11/25		15,860,000		15,312,686
Chevron Corp., Senior Notes		2.954	%		5/16/26		4,000		4,020
Chevron Corp., Senior Notes		1.995	%		5/11/27		5,740,000		5,515,482
Chevron Corp., Senior Notes		2.236	%		5/11/30		70,000		66,289
Chevron Corp., Senior Notes		3.078	%		5/11/50		7,800,000		7,386,217
Chevron USA Inc., Senior Notes		3.850	%		1/15/28		19,795,000		20,646,627
Conoco Funding Co., Senior Notes		7.250	%		10/15/31		810,000		1,069,644

See Notes to Schedule of Investments.

    14     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
ConocoPhillips, Senior Notes		5.900	%		10/15/32		10,000	$	12,105
ConocoPhillips, Senior Notes		6.500	%		2/1/39		40,000		53,656
ConocoPhillips Co., Senior Notes		6.950	%		4/15/29		693,000		857,064
Continental Resources Inc., Senior Notes		4.500	%		4/15/23		9,038,000		9,161,007
Continental Resources Inc., Senior Notes		3.800	%		6/1/24		2,504,000		2,516,057
Continental Resources Inc., Senior Notes		2.268	%		11/15/26		7,190,000		6,722,650	(a)
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		18,789,000		19,076,847
Continental Resources Inc., Senior Notes		5.750	%		1/15/31		11,559,000		12,660,804	(a)
Continental Resources Inc., Senior Notes		4.900	%		6/1/44		9,511,000		9,429,982
Coterra Energy Inc., Senior Notes		3.900	%		5/15/27		29,539,000		29,806,743	(a)
Coterra Energy Inc., Senior Notes		4.375	%		3/15/29		24,949,000		26,029,381	(a)
Devon Energy Corp., Senior Notes		8.250	%		8/1/23		1,440,000		1,526,129
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		12,076,000		13,080,388
Devon Energy Corp., Senior Notes		5.250	%		10/15/27		1,248,000		1,294,240
Devon Energy Corp., Senior Notes		5.875	%		6/15/28		1,124,000		1,190,356
Devon Energy Corp., Senior Notes		4.500	%		1/15/30		1,595,000		1,647,460
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		9,920,000		11,485,619
Devon Energy Corp., Senior Notes		4.750	%		5/15/42		13,677,000		14,502,947
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		49,600,000		54,203,544
Diamondback Energy Inc., Senior Notes		3.250	%		12/1/26		430,000		430,008
Diamondback Energy Inc., Senior Notes		3.500	%		12/1/29		15,489,000		15,360,617
Diamondback Energy Inc., Senior Notes		4.400	%		3/24/51		11,042,000		11,246,224
Ecopetrol SA, Senior Notes		4.625	%		11/2/31		16,620,000		15,064,451
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		41,210,000		36,181,144
Energy Transfer LP, Junior Subordinated Notes (6.250% to 2/15/23 then 3 mo. USD LIBOR + 4.028%)		6.250	%		2/15/23		3,394,000		2,914,598	(b)(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         15

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Energy Transfer LP, Junior Subordinated Notes (6.500% to 11/15/26 then 5 year Treasury Constant Maturity Rate + 5.694%)		6.500	%		11/15/26		7,375,000	$	7,266,589	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (6.750% to 5/15/25 then 5 year Treasury Constant Maturity Rate + 5.134%)		6.750	%		5/15/25		14,868,000		14,514,885	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (7.125% to 5/15/30 then 5 year Treasury Constant Maturity Rate + 5.306%)		7.125	%		5/15/30		15,862,000		15,505,105	(b)(c)
Energy Transfer LP, Senior Notes		2.900	%		5/15/25		11,430,000		11,192,198
Energy Transfer LP, Senior Notes		4.950	%		6/15/28		4,888,000		5,140,675
Energy Transfer LP, Senior Notes		5.250	%		4/15/29		4,100,000		4,382,128
Energy Transfer LP, Senior Notes		3.750	%		5/15/30		39,330,000		38,747,387
Energy Transfer LP, Senior Notes		6.500	%		2/1/42		3,300,000		3,804,531
Energy Transfer LP, Senior Notes		6.100	%		2/15/42		2,000,000		2,185,121
Energy Transfer LP, Senior Notes		5.300	%		4/1/44		1,170,000		1,207,670
Energy Transfer LP, Senior Notes		5.350	%		5/15/45		2,000,000		2,065,590
Energy Transfer LP, Senior Notes		5.300	%		4/15/47		10,000,000		10,315,252
Energy Transfer LP, Senior Notes		5.400	%		10/1/47		11,290,000		11,863,017
Energy Transfer LP, Senior Notes		6.250	%		4/15/49		20,000,000		23,037,947
Energy Transfer LP, Senior Notes		5.000	%		5/15/50		4,660,000		4,733,959
Energy Transfer LP/Regency Energy Finance Corp., Senior Notes		4.500	%		11/1/23		510,000		517,999
Energy Transfer Operating LP, Senior Notes		7.600	%		2/1/24		3,892,000		4,155,859
Enterprise Products Operating LLC, Senior Notes		4.150	%		10/16/28		26,093,000		27,189,591
Enterprise Products Operating LLC, Senior Notes		3.125	%		7/31/29		8,650,000		8,503,914
Enterprise Products Operating LLC, Senior Notes		2.800	%		1/31/30		32,967,000		31,730,721
Enterprise Products Operating LLC, Senior Notes		7.550	%		4/15/38		1,030,000		1,370,279
Enterprise Products Operating LLC, Senior Notes		4.850	%		3/15/44		970,000		1,031,303
Enterprise Products Operating LLC, Senior Notes		4.250	%		2/15/48		6,633,000		6,680,040

See Notes to Schedule of Investments.

    16     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Enterprise Products Operating LLC, Senior Notes		4.800	%		2/1/49		1,680,000	$	1,799,191
Enterprise Products Operating LLC, Senior Notes		4.200	%		1/31/50		3,370,000		3,355,472
Enterprise Products Operating LLC, Senior Notes		3.700	%		1/31/51		23,477,000		21,553,563
Enterprise Products Operating LLC, Senior Notes		3.950	%		1/31/60		6,940,000		6,476,109
Enterprise Products Operating LLC, Senior Notes (5.375% to 2/15/28 then 3 mo. USD LIBOR + 2.570%)		5.375	%		2/15/78		4,965,000		4,617,387	(c)
EOG Resources Inc., Senior Notes		4.150	%		1/15/26		6,442,000		6,676,583
EOG Resources Inc., Senior Notes		4.375	%		4/15/30		3,690,000		4,000,772
EOG Resources Inc., Senior Notes		3.900	%		4/1/35		12,960,000		13,342,020
EOG Resources Inc., Senior Notes		4.950	%		4/15/50		19,990,000		24,573,952
EQM Midstream Partners LP, Senior Notes		5.500	%		7/15/28		1,280,000		1,287,283
EQT Corp., Senior Notes		6.625	%		2/1/25		1,230,000		1,300,725
EQT Corp., Senior Notes		3.125	%		5/15/26		600,000		583,458	(a)
EQT Corp., Senior Notes		3.900	%		10/1/27		28,139,000		28,099,043
EQT Corp., Senior Notes		5.000	%		1/15/29		10,428,000		10,778,068
EQT Corp., Senior Notes		3.625	%		5/15/31		12,373,000		11,834,836	(a)
Exxon Mobil Corp., Senior Notes		1.571	%		4/15/23		1,420,000		1,416,182
Exxon Mobil Corp., Senior Notes		2.992	%		3/19/25		37,170,000		37,360,737
Exxon Mobil Corp., Senior Notes		3.043	%		3/1/26		11,540,000		11,656,576
Exxon Mobil Corp., Senior Notes		3.482	%		3/19/30		13,120,000		13,483,052
Exxon Mobil Corp., Senior Notes		4.227	%		3/19/40		3,000,000		3,237,639
Exxon Mobil Corp., Senior Notes		4.114	%		3/1/46		22,720,000		24,521,923
Exxon Mobil Corp., Senior Notes		4.327	%		3/19/50		4,800,000		5,376,450
Exxon Mobil Corp., Senior Notes		3.452	%		4/15/51		6,000,000		5,846,446
KazMunayGas National Co. JSC, Senior Notes		5.375	%		4/24/30		9,050,000		8,721,422	(a)
KazMunayGas National Co. JSC, Senior Notes		6.375	%		10/24/48		12,310,000		11,652,748	(a)
Kinder Morgan Energy Partners LP, Senior Notes		7.300	%		8/15/33		1,497,000		1,859,302
Kinder Morgan Energy Partners LP, Senior Notes		6.550	%		9/15/40		1,450,000		1,739,108
Kinder Morgan Energy Partners LP, Senior Notes		6.375	%		3/1/41		1,720,000		2,021,970

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         17

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Kinder Morgan Energy Partners LP, Senior Notes		5.500	%		3/1/44		1,260,000	$	1,374,540
Kinder Morgan Energy Partners LP, Senior Notes		5.400	%		9/1/44		680,000		735,347
Kinder Morgan Inc., Senior Notes		4.300	%		6/1/25		2,820,000		2,899,421
Kinder Morgan Inc., Senior Notes		4.300	%		3/1/28		2,850,000		2,958,934
Kinder Morgan Inc., Senior Notes		7.800	%		8/1/31		3,276,000		4,198,704
Kinder Morgan Inc., Senior Notes		5.550	%		6/1/45		12,860,000		14,419,276
Kinder Morgan Inc., Senior Notes		5.050	%		2/15/46		4,650,000		4,943,441
Kinder Morgan Inc., Senior Notes		5.200	%		3/1/48		8,770,000		9,559,184
MEG Energy Corp., Senior Notes		5.875	%		2/1/29		2,690,000		2,732,112	(a)
MPLX LP, Senior Notes		4.875	%		12/1/24		9,800,000		10,158,296
MPLX LP, Senior Notes		4.875	%		6/1/25		7,870,000		8,161,761
MPLX LP, Senior Notes		4.800	%		2/15/29		8,850,000		9,432,150
MPLX LP, Senior Notes		4.500	%		4/15/38		11,800,000		12,085,519
MPLX LP, Senior Notes		5.200	%		3/1/47		5,570,000		5,989,446
MPLX LP, Senior Notes		4.700	%		4/15/48		12,450,000		12,580,458
MPLX LP, Senior Notes		5.500	%		2/15/49		8,066,000		8,960,163
Oasis Petroleum Inc., Senior Notes		6.375	%		6/1/26		2,500,000		2,565,713	(a)
Occidental Petroleum Corp., Senior Notes		6.950	%		7/1/24		3,107,000		3,341,454
Occidental Petroleum Corp., Senior Notes		5.550	%		3/15/26		11,940,000		12,670,489
Occidental Petroleum Corp., Senior Notes		3.400	%		4/15/26		9,455,000		9,411,554
Occidental Petroleum Corp., Senior Notes		3.200	%		8/15/26		19,417,000		19,108,367
Occidental Petroleum Corp., Senior Notes		3.000	%		2/15/27		6,900,000		6,759,137
Occidental Petroleum Corp., Senior Notes		3.500	%		8/15/29		60,000		59,202
Occidental Petroleum Corp., Senior Notes		6.625	%		9/1/30		17,260,000		19,827,425
Occidental Petroleum Corp., Senior Notes		7.500	%		5/1/31		14,340,000		17,520,827
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		4,792,000		5,987,844
Occidental Petroleum Corp., Senior Notes		6.450	%		9/15/36		23,185,000		27,279,471

See Notes to Schedule of Investments.

    18     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Occidental Petroleum Corp., Senior Notes		4.500	%		7/15/44		6,250,000	$	5,985,625
Occidental Petroleum Corp., Senior Notes		4.625	%		6/15/45		16,480,000		16,021,032
Occidental Petroleum Corp., Senior Notes		6.600	%		3/15/46		27,550,000		32,429,518
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		9,750,000		9,281,122
Occidental Petroleum Corp., Senior Notes		4.100	%		2/15/47		29,575,000		27,416,025
Occidental Petroleum Corp., Senior Notes		4.200	%		3/15/48		20,750,000		19,438,392
Parsley Energy LLC/Parsley Finance Corp., Senior Notes		4.125	%		2/15/28		2,070,000		2,064,017	(a)
Petrobras Global Finance BV, Senior Notes		6.250	%		3/17/24		14,259,000		14,967,387
Petrobras Global Finance BV, Senior Notes		5.299	%		1/27/25		92,550,000		96,802,210
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		7,710,000		8,563,960
Petrobras Global Finance BV, Senior Notes		5.750	%		2/1/29		21,560,000		22,438,786
Petrobras Global Finance BV, Senior Notes		5.600	%		1/3/31		5,000,000		5,069,250
Petrobras Global Finance BV, Senior Notes		7.250	%		3/17/44		27,165,000		28,371,126
Petrobras Global Finance BV, Senior Notes		5.500	%		6/10/51		22,950,000		19,725,984
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		4,350,000		4,556,125
Petroleos Mexicanos, Senior Notes		6.625	%		6/15/35		14,490,000		13,013,469
Petroleos Mexicanos, Senior Notes		5.500	%		6/27/44		3,860,000		2,917,446
Petroleos Mexicanos, Senior Notes		6.375	%		1/23/45		14,210,000		11,394,573
Pioneer Natural Resources Co., Senior Notes		1.125	%		1/15/26		3,620,000		3,361,657
Pioneer Natural Resources Co., Senior Notes		2.150	%		1/15/31		15,860,000		14,313,352
Qatar Energy, Senior Notes		2.250	%		7/12/31		36,230,000		33,421,233	(a)
Qatar Energy, Senior Notes		3.125	%		7/12/41		21,990,000		20,062,489	(a)
Qatar Energy, Senior Notes		3.300	%		7/12/51		23,770,000		21,886,370	(a)
Range Resources Corp., Senior Notes		5.875	%		7/1/22		542,000		542,000

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         19

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Range Resources Corp., Senior Notes		5.000	%		3/15/23		7,197,000	$	7,258,175
Range Resources Corp., Senior Notes		4.875	%		5/15/25		5,160,000		5,231,549
Reliance Industries Ltd., Senior Notes		2.875	%		1/12/32		10,420,000		9,571,610	(a)
Reliance Industries Ltd., Senior Notes		3.625	%		1/12/52		31,080,000		27,639,593	(a)
Sabine Pass Liquefaction LLC, Senior Secured Notes		5.750	%		5/15/24		2,870,000		3,005,208
Schlumberger Holdings Corp., Senior Notes		3.900	%		5/17/28		5,110,000		5,169,460	(a)
Shell International Finance BV, Senior Notes		2.875	%		5/10/26		5,450,000		5,466,802
Shell International Finance BV, Senior Notes		2.750	%		4/6/30		14,090,000		13,684,325
Shell International Finance BV, Senior Notes		6.375	%		12/15/38		4,655,000		6,174,747
Shell International Finance BV, Senior Notes		4.550	%		8/12/43		6,360,000		7,094,703
Shell International Finance BV, Senior Notes		4.375	%		5/11/45		13,770,000		14,915,670
Shell International Finance BV, Senior Notes		4.000	%		5/10/46		8,940,000		9,361,388
Shell International Finance BV, Senior Notes		3.750	%		9/12/46		690,000		700,299
Shell International Finance BV, Senior Notes		3.250	%		4/6/50		27,710,000		26,114,176
Sinopec Group Overseas Development 2014 Ltd., Senior Notes		4.375	%		4/10/24		17,660,000		18,144,308	(a)
Sinopec Group Overseas Development 2015 Ltd., Senior Notes		3.250	%		4/28/25		6,000,000		6,011,517	(a)
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32		9,413,000		11,964,837
Southwestern Energy Co., Senior Notes		5.375	%		2/1/29		920,000		932,760
Southwestern Energy Co., Senior Notes		5.375	%		3/15/30		3,790,000		3,856,931
Southwestern Energy Co., Senior Notes		4.750	%		2/1/32		5,520,000		5,520,800
Tallgrass Energy Partners LP/ Tallgrass Energy Finance Corp., Senior Notes		6.000	%		12/31/30		830,000		806,656	(a)

See Notes to Schedule of Investments.

    20     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.875	%		4/15/26		1,845,000	$	1,903,902
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.500	%		7/15/27		4,230,000		4,457,574
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.000	%		1/15/28		3,930,000		3,988,989
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.875	%		1/15/29		2,120,000		2,278,385
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.875	%		2/1/31		11,570,000		11,701,435
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.000	%		1/15/32		1,520,000		1,464,611
Tennessee Gas Pipeline Co. LLC, Senior Notes		2.900	%		3/1/30		18,290,000		17,182,262	(a)
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.850	%		2/1/26		34,600,000		39,697,788
Venture Global Calcasieu Pass LLC, Senior Secured Notes		3.875	%		11/1/33		10,180,000		9,751,473	(a)
Western Midstream Operating LP, Senior Notes		3.600	%		2/1/25		9,840,000		9,788,832
Western Midstream Operating LP, Senior Notes		4.500	%		3/1/28		2,363,000		2,414,691
Western Midstream Operating LP, Senior Notes		4.550	%		2/1/30		42,385,000		42,251,275
Western Midstream Operating LP, Senior Notes		5.300	%		3/1/48		1,170,000		1,160,505
Western Midstream Operating LP, Senior Notes		5.500	%		8/15/48		2,700,000		2,671,110
Western Midstream Operating LP, Senior Notes		5.750	%		2/1/50		6,340,000		6,193,324
Western Midstream Operating LP, Senior Notes (3 mo. USD LIBOR + 1.850%)		1.844	%		1/13/23		3,870,000		3,831,747	(c)
Williams Cos. Inc., Senior Notes		3.700	%		1/15/23		3,960,000		3,986,396
Williams Cos. Inc., Senior Notes		4.550	%		6/24/24		1,790,000		1,840,086

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         21

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Williams Cos. Inc., Senior Notes		3.750	%		6/15/27		5,450,000	$	5,518,933
Williams Cos. Inc., Senior Notes		3.500	%		11/15/30		5,920,000		5,862,739
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		4,249,000		5,289,144
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		6,418,000		8,063,743
Williams Cos. Inc., Senior Notes		8.750	%		3/15/32		3,035,000		4,131,239
Williams Cos. Inc., Senior Notes		5.750	%		6/24/44		900,000		1,039,390
Williams Cos. Inc., Senior Notes		5.100	%		9/15/45		4,000,000		4,345,892
Williams Cos. Inc., Senior Notes		4.850	%		3/1/48		8,529,000		9,127,081
Total Oil, Gas & Consumable Fuels									2,132,743,681
TOTAL ENERGY									2,145,623,038
FINANCIALS - 9.7%
Banks - 7.1%
ABN AMRO Bank NV, Subordinated Notes		4.750	%		7/28/25		8,210,000		8,403,937	(a)
BAC Capital Trust XIV, Junior Subordinated Notes (3 mo. USD LIBOR + 0.400%, 4.000% floor)		4.000	%		4/18/22		7,226,000		6,243,202	(b)(c)
Banco Santander SA, Senior Notes		3.848	%		4/12/23		8,600,000		8,716,887
Banco Santander SA, Senior Notes		2.746	%		5/28/25		43,500,000		42,436,515
Banco Santander SA, Senior Notes (3 mo. USD LIBOR + 1.120%)		1.358	%		4/12/23		6,200,000		6,234,497	(c)
Bank of America Corp., Senior Notes		3.300	%		1/11/23		28,960,000		29,292,195
Bank of America Corp., Senior Notes		4.125	%		1/22/24		230,000		236,181
Bank of America Corp., Senior Notes		4.000	%		4/1/24		13,890,000		14,263,113
Bank of America Corp., Senior Notes		3.500	%		4/19/26		16,160,000		16,375,777
Bank of America Corp., Senior Notes		5.000	%		1/21/44		33,160,000		38,291,513
Bank of America Corp., Senior Notes (1.319% to 6/19/25 then SOFR + 1.150%)		1.319	%		6/19/26		33,540,000		31,469,977	(c)
Bank of America Corp., Senior Notes (1.898% to 7/23/30 then SOFR + 1.530%)		1.898	%		7/23/31		7,000,000		6,124,742	(c)
Bank of America Corp., Senior Notes (2.572% to 10/20/31 then SOFR + 1.210%)		2.572	%		10/20/32		28,780,000		26,196,457	(c)
Bank of America Corp., Senior Notes (2.592% to 4/29/30 then SOFR + 2.150%)		2.592	%		4/29/31		24,180,000		22,349,086	(c)

See Notes to Schedule of Investments.

    22     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Bank of America Corp., Senior Notes (2.687% to 4/22/31 then SOFR + 1.320%)		2.687	%		4/22/32		20,000,000	$	18,422,752	(c)
Bank of America Corp., Senior Notes (2.972% to 2/4/32 then SOFR + 1.330%)		2.972	%		2/4/33		17,780,000		16,678,828	(c)
Bank of America Corp., Senior Notes (3.004% to 12/20/22 then 3 mo. USD LIBOR + 0.790%)		3.004	%		12/20/23		39,972,000		40,088,047	(c)
Bank of America Corp., Senior Notes (3.419% to 12/20/27 then 3 mo. USD LIBOR + 1.040%)		3.419	%		12/20/28		27,181,000		26,926,592	(c)
Bank of America Corp., Senior Notes (3.550% to 3/5/23 then 3 mo. USD LIBOR + 0.780%)		3.550	%		3/5/24		20,980,000		21,109,728	(c)
Bank of America Corp., Senior Notes (3.593% to 7/21/27 then 3 mo. USD LIBOR + 1.370%)		3.593	%		7/21/28		7,230,000		7,252,317	(c)
Bank of America Corp., Senior Notes (3.970% to 3/5/28 then 3 mo. USD LIBOR + 1.070%)		3.970	%		3/5/29		85,750,000		87,180,320	(c)
Bank of America Corp., Senior Notes (3.974% to 2/7/29 then 3 mo. USD LIBOR + 1.210%)		3.974	%		2/7/30		8,130,000		8,270,450	(c)
Bank of America Corp., Senior Notes (4.083% to 3/20/50 then 3 mo. USD LIBOR + 3.150%)		4.083	%		3/20/51		52,790,000		54,883,138	(c)
Bank of America Corp., Senior Notes (4.330% to 3/15/49 then 3 mo. USD LIBOR + 1.520%)		4.330	%		3/15/50		7,370,000		7,939,056	(c)
Bank of America Corp., Subordinated Notes		4.200	%		8/26/24		14,080,000		14,429,668
Bank of America Corp., Subordinated Notes		4.000	%		1/22/25		4,300,000		4,381,913
Bank of America Corp., Subordinated Notes		4.450	%		3/3/26		3,050,000		3,157,323
Bank of America Corp., Subordinated Notes		4.250	%		10/22/26		14,500,000		14,941,735

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         23

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Bank of America Corp., Subordinated Notes (2.482% to 9/21/31 then 5 year Treasury Constant Maturity Rate + 1.200%)		2.482	%		9/21/36		2,620,000	$	2,256,708	(c)
Bank of Montreal, Senior Notes		1.850	%		5/1/25		26,710,000		25,689,099
Bank of Montreal, Subordinated Notes (3.803% to 12/15/27 then USD 5 year ICE Swap Rate + 1.432%)		3.803	%		12/15/32		3,780,000		3,740,713	(c)
Bank of Nova Scotia, Senior Notes		1.300	%		6/11/25		14,860,000		14,015,935
Barclays Bank PLC, Senior Notes		1.700	%		5/12/22		11,260,000		11,266,303
Barclays PLC, Senior Notes (4.972% to 5/16/28 then 3 mo. USD LIBOR + 1.902%)		4.972	%		5/16/29		10,900,000		11,418,202	(c)
Barclays PLC, Subordinated Notes (5.088% to 6/20/29 then 3 mo. USD LIBOR + 3.054%)		5.088	%		6/20/30		65,350,000		67,901,254	(c)
BNP Paribas SA, Senior Notes		3.375	%		1/9/25		6,895,000		6,864,674	(a)
BNP Paribas SA, Senior Notes		4.400	%		8/14/28		46,530,000		47,407,471	(a)
BNP Paribas SA, Senior Notes (2.219% to 6/9/25 then SOFR + 2.074%)		2.219	%		6/9/26		17,970,000		17,102,118	(a)(c)
BNP Paribas SA, Senior Notes (2.871% to 4/19/31 then SOFR + 1.387%)		2.871	%		4/19/32		10,000,000		9,114,632	(a)(c)
BNP Paribas SA, Senior Notes (4.705% to 1/10/24 then 3 mo. USD LIBOR + 2.235%)		4.705	%		1/10/25		51,040,000		52,137,262	(a)(c)
BNP Paribas SA, Senior Notes (5.198% to 1/10/29 then 3 mo. USD LIBOR + 2.567%)		5.198	%		1/10/30		9,009,000		9,619,282	(a)(c)
BNP Paribas SA, Subordinated Notes		4.625	%		3/13/27		9,790,000		10,024,203	(a)
BNP Paribas SA, Subordinated Notes (4.375% to 3/1/28 then USD 5 year ICE Swap Rate + 1.483%)		4.375	%		3/1/33		6,530,000		6,488,069	(a)(c)
BPCE SA, Subordinated Notes		5.150	%		7/21/24		3,300,000		3,403,408	(a)
Canadian Imperial Bank of Commerce, Senior Notes		0.950	%		6/23/23		15,070,000		14,794,345
Citigroup Inc., Junior Subordinated Notes (5.950% to 1/30/23 then 3 mo. USD LIBOR + 4.068%)		5.950	%		1/30/23		6,050,000		6,129,255	(b)(c)

See Notes to Schedule of Investments.

    24     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Citigroup Inc., Junior Subordinated Notes (5.950% to 5/15/25 then 3 mo. USD LIBOR + 3.905%)		5.950	%		5/15/25		18,320,000	$	18,696,476	(b)(c)
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. USD LIBOR + 3.423%)		6.300	%		5/15/24		3,700,000		3,728,675	(b)(c)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		2,195,000		3,333,557
Citigroup Inc., Senior Notes		4.650	%		7/30/45		24,812,000		27,348,547
Citigroup Inc., Senior Notes		4.650	%		7/23/48		3,000,000		3,402,971
Citigroup Inc., Senior Notes (1.678% to 5/15/23 then SOFR + 1.667%)		1.678	%		5/15/24		15,430,000		15,311,833	(c)
Citigroup Inc., Senior Notes (2.561% to 5/1/31 then SOFR + 1.167%)		2.561	%		5/1/32		20,000,000		18,075,116	(c)
Citigroup Inc., Senior Notes (2.572% to 6/3/30 then SOFR + 2.107%)		2.572	%		6/3/31		35,480,000		32,567,425	(c)
Citigroup Inc., Senior Notes (2.666% to 1/29/30 then SOFR + 1.146%)		2.666	%		1/29/31		20,000,000		18,566,485	(c)
Citigroup Inc., Senior Notes (3.106% to 4/8/25 then SOFR + 2.842%)		3.106	%		4/8/26		10,730,000		10,646,441	(c)
Citigroup Inc., Senior Notes (3.520% to 10/27/27 then 3 mo. USD LIBOR + 1.151%)		3.520	%		10/27/28		65,050,000		64,529,165	(c)
Citigroup Inc., Senior Notes (3.785% to 3/17/32 then SOFR + 1.939%)		3.785	%		3/17/33		28,570,000		28,354,629	(c)
Citigroup Inc., Senior Notes (3.980% to 3/20/29 then 3 mo. USD LIBOR + 1.338%)		3.980	%		3/20/30		7,640,000		7,769,388	(c)
Citigroup Inc., Senior Notes (4.075% to 4/23/28 then 3 mo. USD LIBOR + 1.192%)		4.075	%		4/23/29		16,280,000		16,609,524	(c)
Citigroup Inc., Senior Notes (4.412% to 3/31/30 then SOFR + 3.914%)		4.412	%		3/31/31		18,680,000		19,427,931	(c)
Citigroup Inc., Subordinated Notes		4.050	%		7/30/22		704,000		710,041
Citigroup Inc., Subordinated Notes		4.400	%		6/10/25		19,090,000		19,659,756
Citigroup Inc., Subordinated Notes		5.500	%		9/13/25		25,260,000		26,994,703
Citigroup Inc., Subordinated Notes		4.300	%		11/20/26		11,500,000		11,844,803
Citigroup Inc., Subordinated Notes		4.450	%		9/29/27		36,920,000		38,144,176
Citigroup Inc., Subordinated Notes		6.625	%		6/15/32		1,660,000		2,010,435
Citigroup Inc., Subordinated Notes		6.125	%		8/25/36		133,000		160,511
Citigroup Inc., Subordinated Notes		6.675	%		9/13/43		2,824,000		3,727,308

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         25

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Citigroup Inc., Subordinated Notes		5.300	%		5/6/44		1,789,000	$	2,042,815
Citigroup Inc., Subordinated Notes		4.750	%		5/18/46		2,080,000		2,234,956
Cooperatieve Rabobank UA, Senior Notes		4.375	%		8/4/25		32,450,000		33,005,625
Cooperatieve Rabobank UA, Senior Notes (1.339% to 6/24/25 then 1 year Treasury Constant Maturity Rate + 1.000%)		1.339	%		6/24/26		33,050,000		30,882,216	(a)(c)
Cooperatieve Rabobank UA, Senior Notes (3.649% to 4/6/27 then 1 year Treasury Constant Maturity Rate + 1.220%)		3.649	%		4/6/28		14,550,000		14,517,183	(a)(c)(d)
Cooperatieve Rabobank UA, Senior Notes (3.758% to 4/6/32 then 1 year Treasury Constant Maturity Rate + 1.420%)		3.758	%		4/6/33		8,720,000		8,705,183	(a)(c)(d)
Credit Agricole SA, Senior Notes (1.907% to 6/16/25 then SOFR + 1.676%)		1.907	%		6/16/26		11,750,000		11,104,703	(a)(c)
Credit Agricole SA, Subordinated Notes (4.000% to 1/10/28 then USD 5 year ICE Swap Rate + 1.644%)		4.000	%		1/10/33		8,590,000		8,446,137	(a)(c)
Danske Bank A/S, Senior Notes		3.875	%		9/12/23		3,510,000		3,544,421	(a)
Danske Bank A/S, Senior Notes		5.375	%		1/12/24		18,650,000		19,237,253	(a)
Danske Bank A/S, Senior Notes		1.226	%		6/22/24		18,620,000		17,756,232	(a)
Danske Bank A/S, Senior Notes (3.244% to 12/20/24 then 3 mo. USD LIBOR + 1.591%)		3.244	%		12/20/25		5,370,000		5,294,337	(a)(c)
HSBC Holdings PLC, Senior Notes		4.300	%		3/8/26		1,750,000		1,797,460
HSBC Holdings PLC, Senior Notes		3.900	%		5/25/26		13,485,000		13,628,864
HSBC Holdings PLC, Senior Notes		4.950	%		3/31/30		4,570,000		4,889,589
HSBC Holdings PLC, Senior Notes (2.099% to 6/4/25 then SOFR + 1.929%)		2.099	%		6/4/26		30,080,000		28,629,412	(c)
HSBC Holdings PLC, Senior Notes (2.848% to 6/4/30 then SOFR + 2.387%)		2.848	%		6/4/31		19,080,000		17,668,593	(c)
HSBC Holdings PLC, Subordinated Notes		4.250	%		3/14/24		4,910,000		4,984,216
HSBC Holdings PLC, Subordinated Notes		4.250	%		8/18/25		15,970,000		16,165,648

See Notes to Schedule of Investments.

    26     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
HSBC Holdings PLC, Subordinated Notes (4.762% to 3/29/32 then SOFR + 2.530%)		4.762	%		3/29/33		22,730,000	$	23,384,388	(c)
Intesa Sanpaolo SpA, Senior Notes		3.125	%		7/14/22		13,100,000		13,121,411	(a)
Intesa Sanpaolo SpA, Senior Notes		3.375	%		1/12/23		17,880,000		17,924,707	(a)
Intesa Sanpaolo SpA, Subordinated Notes		5.017	%		6/26/24		39,180,000		39,518,501	(a)
Intesa Sanpaolo SpA, Subordinated Notes		5.710	%		1/15/26		10,920,000		11,169,315	(a)
JPMorgan Chase & Co., Senior Notes		3.625	%		5/13/24		20,000		20,410
JPMorgan Chase & Co., Senior Notes (1.514% to 6/1/23 then SOFR + 1.455%)		1.514	%		6/1/24		41,130,000		40,585,032	(c)
JPMorgan Chase & Co., Senior Notes (1.953% to 2/4/31 then SOFR + 1.065%)		1.953	%		2/4/32		20,000,000		17,541,528	(c)
JPMorgan Chase & Co., Senior Notes (2.083% to 4/22/25 then SOFR + 1.850%)		2.083	%		4/22/26		24,800,000		23,950,394	(c)
JPMorgan Chase & Co., Senior Notes (2.522% to 4/22/30 then SOFR + 2.040%)		2.522	%		4/22/31		13,760,000		12,771,896	(c)
JPMorgan Chase & Co., Senior Notes (2.545% to 11/8/31 then SOFR + 1.180%)		2.545	%		11/8/32		10,480,000		9,590,447	(c)
JPMorgan Chase & Co., Senior Notes (2.580% to 4/22/31 then SOFR + 1.250%)		2.580	%		4/22/32		9,440,000		8,661,564	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/40 then SOFR + 2.460%)		3.109	%		4/22/41		10,000,000		9,068,469	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/50 then SOFR + 2.440%)		3.109	%		4/22/51		16,560,000		14,734,227	(c)
JPMorgan Chase & Co., Senior Notes (3.509% to 1/23/28 then 3 mo. USD LIBOR + 0.945%)		3.509	%		1/23/29		29,830,000		29,723,726	(c)
JPMorgan Chase & Co., Senior Notes (4.023% to 12/5/23 then 3 mo. USD LIBOR + 1.000%)		4.023	%		12/5/24		35,640,000		36,225,779	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         27

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
JPMorgan Chase & Co., Senior Notes (4.203% to 7/23/28 then 3 mo. USD LIBOR + 1.260%)		4.203	%		7/23/29		18,900,000	$	19,568,314	(c)
JPMorgan Chase & Co., Senior Notes (4.452% to 12/5/28 then 3 mo. USD LIBOR + 1.330%)		4.452	%		12/5/29		7,130,000		7,441,061	(c)
JPMorgan Chase & Co., Senior Notes (4.493% to 3/24/30 then SOFR + 3.790%)		4.493	%		3/24/31		15,000,000		15,918,495	(c)
JPMorgan Chase & Co., Subordinated Notes		3.875	%		9/10/24		3,195,000		3,265,602
JPMorgan Chase & Co., Subordinated Notes		4.125	%		12/15/26		14,330,000		14,846,432
JPMorgan Chase & Co., Subordinated Notes		4.250	%		10/1/27		4,050,000		4,187,465
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		20,670,000		23,476,636
Lloyds Banking Group PLC, Junior Subordinated Notes (7.500% to 9/27/25 then USD 5 year ICE Swap Rate + 4.496%)		7.500	%		9/27/25		1,000,000		1,063,241	(b)(c)
Lloyds Banking Group PLC, Senior Notes		3.900	%		3/12/24		10,560,000		10,726,766
Lloyds Banking Group PLC, Senior Notes		4.375	%		3/22/28		14,100,000		14,429,666
Lloyds Banking Group PLC, Senior Notes		4.550	%		8/16/28		200,000		206,571
Lloyds Banking Group PLC, Senior Notes (3.574% to 11/7/27 then 3 mo. USD LIBOR + 1.205%)		3.574	%		11/7/28		2,261,000		2,211,268	(c)
Lloyds Banking Group PLC, Subordinated Notes		4.500	%		11/4/24		15,350,000		15,695,186
NatWest Group PLC, Senior Notes (4.269% to 3/22/24 then 3 mo. USD LIBOR + 1.762%)		4.269	%		3/22/25		10,710,000		10,839,413	(c)
NatWest Group PLC, Senior Notes (4.519% to 6/25/23 then 3 mo. USD LIBOR + 1.550%)		4.519	%		6/25/24		10,000,000		10,153,841	(c)
NatWest Group PLC, Senior Notes (4.892% to 5/18/28 then 3 mo. USD LIBOR + 1.754%)		4.892	%		5/18/29		5,450,000		5,673,109	(c)

See Notes to Schedule of Investments.

    28     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
NatWest Group PLC, Senior Notes (5.076% to 1/27/29 then 3 mo. USD LIBOR + 1.905%)		5.076	%		1/27/30		3,000,000	$	3,199,532	(c)
Royal Bank of Canada, Senior Notes		1.600	%		4/17/23		20,990,000		20,896,201
Royal Bank of Canada, Senior Notes		1.150	%		6/10/25		14,190,000		13,407,376
Santander UK Group Holdings PLC, Subordinated Notes		5.625	%		9/15/45		2,379,000		2,571,142	(a)
Standard Chartered PLC, Subordinated Notes		5.700	%		3/26/44		715,000		785,284	(a)
Swedbank AB, Senior Notes		1.300	%		6/2/23		17,500,000		17,265,643	(a)
Toronto-Dominion Bank, Senior Notes		0.750	%		6/12/23		27,800,000		27,305,533
Toronto-Dominion Bank, Senior Notes		1.150	%		6/12/25		14,120,000		13,341,263
UniCredit SpA, Subordinated Notes (7.296% to 4/2/29 then USD 5 year ICE Swap Rate + 4.914%)		7.296	%		4/2/34		306,000		324,607	(a)(c)
US Bancorp, Senior Notes		1.450	%		5/12/25		30,910,000		29,578,242
Wells Fargo & Co., Senior Notes		3.750	%		1/24/24		11,840,000		12,060,664
Wells Fargo & Co., Senior Notes		3.000	%		10/23/26		29,510,000		29,130,877
Wells Fargo & Co., Senior Notes		4.150	%		1/24/29		23,420,000		24,319,061
Wells Fargo & Co., Senior Notes (1.654% to 6/2/23 then SOFR + 1.600%)		1.654	%		6/2/24		18,940,000		18,720,059	(c)
Wells Fargo & Co., Senior Notes (2.188% to 4/30/25 then SOFR + 2.000%)		2.188	%		4/30/26		25,380,000		24,499,688	(c)
Wells Fargo & Co., Senior Notes (2.393% to 6/2/27 then SOFR + 2.100%)		2.393	%		6/2/28		27,690,000		26,215,243	(c)
Wells Fargo & Co., Senior Notes (2.879% to 10/30/29 then SOFR + 1.432%)		2.879	%		10/30/30		5,770,000		5,490,349	(c)
Wells Fargo & Co., Senior Notes (3.350% to 3/2/32 then SOFR + 1.500%)		3.350	%		3/2/33		8,490,000		8,260,272	(c)
Wells Fargo & Co., Senior Notes (3.584% to 5/22/27 then 3 mo. USD LIBOR + 1.310%)		3.584	%		5/22/28		23,440,000		23,431,684	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         29

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Wells Fargo & Co., Senior Notes (4.478% to 4/4/30 then SOFR + 4.032%)		4.478	%		4/4/31		15,920,000	$	16,878,805	(c)
Wells Fargo & Co., Senior Notes (5.013% to 4/4/50 then SOFR + 4.502%)		5.013	%		4/4/51		162,180,000		193,330,409	(c)
Wells Fargo & Co., Subordinated Notes		4.480	%		1/16/24		1,802,000		1,856,693
Wells Fargo & Co., Subordinated Notes		4.300	%		7/22/27		23,620,000		24,556,456
Wells Fargo & Co., Subordinated Notes		5.375	%		11/2/43		8,140,000		9,477,097
Wells Fargo & Co., Subordinated Notes		5.606	%		1/15/44		1,840,000		2,198,068
Wells Fargo & Co., Subordinated Notes		4.650	%		11/4/44		20,450,000		21,829,795
Wells Fargo & Co., Subordinated Notes		4.900	%		11/17/45		16,404,000		18,174,488
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		3,070,000		3,196,007
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		22,515,000		24,570,351
Total Banks									2,622,389,367
Capital Markets - 2.0%
Bank of New York Mellon Corp., Senior Notes		1.600	%		4/24/25		8,130,000		7,843,077
CME Group Inc., Senior Notes		5.300	%		9/15/43		4,500,000		5,515,605
Credit Suisse AG, Senior Notes		2.950	%		4/9/25		13,780,000		13,639,182
Credit Suisse Group AG, Junior Subordinated Notes (7.500% to 7/17/23 then USD 5 year ICE Swap Rate + 4.600%)		7.500	%		7/17/23		2,000,000		2,035,500	(a)(b)(c)
Credit Suisse Group AG, Senior Notes		4.550	%		4/17/26		3,720,000		3,788,008
Credit Suisse Group AG, Senior Notes (2.193% to 6/5/25 then SOFR + 2.044%)		2.193	%		6/5/26		42,045,000		39,528,608	(a)(c)
Credit Suisse Group AG, Senior Notes (2.593% to 9/11/24 then SOFR + 1.560%)		2.593	%		9/11/25		6,450,000		6,235,754	(a)(c)

See Notes to Schedule of Investments.

    30     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Credit Suisse Group AG, Senior Notes (3.091% to 5/14/31 then SOFR + 1.730%)		3.091	%		5/14/32		40,670,000	$	36,746,185	(a)(c)
Credit Suisse Group AG, Senior Notes (4.194% to 4/1/30 then SOFR + 3.730%)		4.194	%		4/1/31		33,870,000		33,471,268	(a)(c)
Goldman Sachs Capital II, Junior Subordinated Notes (3 mo. USD LIBOR + 0.768%, 4.000% floor)		4.000	%		5/2/22		303,000		243,915	(b)(c)
Goldman Sachs Group Inc., Senior Notes		3.200	%		2/23/23		12,610,000		12,727,320
Goldman Sachs Group Inc., Senior Notes		4.000	%		3/3/24		5,100,000		5,206,565
Goldman Sachs Group Inc., Senior Notes		3.850	%		7/8/24		5,410,000		5,511,574
Goldman Sachs Group Inc., Senior Notes		3.500	%		1/23/25		10,000,000		10,090,011
Goldman Sachs Group Inc., Senior Notes		3.500	%		4/1/25		16,970,000		17,106,919
Goldman Sachs Group Inc., Senior Notes		3.500	%		11/16/26		10,633,000		10,686,710
Goldman Sachs Group Inc., Senior Notes		2.600	%		2/7/30		10,000,000		9,287,935
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		29,580,000		38,317,646
Goldman Sachs Group Inc., Senior Notes		4.750	%		10/21/45		9,754,000		10,939,064
Goldman Sachs Group Inc., Senior Notes (2.615% to 4/22/31 then SOFR + 1.281%)		2.615	%		4/22/32		20,000,000		18,218,606	(c)
Goldman Sachs Group Inc., Senior Notes (2.650% to 10/21/31 then SOFR + 1.264%)		2.650	%		10/21/32		2,000,000		1,812,514	(c)
Goldman Sachs Group Inc., Senior Notes (2.908% to 7/21/41 then SOFR + 1.472%)		2.908	%		7/21/42		7,840,000		6,776,146	(c)
Goldman Sachs Group Inc., Senior Notes (3.615% to 3/15/27 then SOFR + 1.846%)		3.615	%		3/15/28		5,790,000		5,789,106	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         31

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE			FACE AMOUNT†		VALUE
Capital Markets - (continued)
Goldman Sachs Group Inc., Senior Notes (3.691% to 6/5/27 then 3 mo. USD LIBOR + 1.510%)		3.691	%		6/5/28			5,760,000	$	5,773,371	(c)
Goldman Sachs Group Inc., Senior Notes (3.814% to 4/23/28 then 3 mo. USD LIBOR + 1.158%)		3.814	%		4/23/29			76,385,000		77,048,133	(c)
Goldman Sachs Group Inc., Senior Notes (4.223% to 5/1/28 then 3 mo. USD LIBOR + 1.301%)		4.223	%		5/1/29			21,650,000		22,188,540	(c)
Goldman Sachs Group Inc., Senior Notes (3.210% to 4/22/41 then SOFR + 1.513%)		3.210	%		4/22/42			3,096,000		2,812,593	(c)
Goldman Sachs Group Inc., Subordinated Notes		4.250	%		10/21/25			24,160,000		24,774,646
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37			8,640,000		10,917,781
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45			21,841,000		24,498,816
KKR Group Finance Co. II LLC, Senior Notes		5.500	%		2/1/43			1,398,000		1,599,446	(a)
Morgan Stanley, Senior Notes (2.188% to 4/28/25 then SOFR + 1.990%)		2.188	%		4/28/26			39,580,000		38,272,852	(c)
Morgan Stanley, Senior Notes (2.511% to 10/20/31 then SOFR + 1.200%)		2.511	%		10/20/32			2,020,000		1,825,575	(c)
Morgan Stanley, Senior Notes (2.699% to 1/22/30 then SOFR + 1.143%)		2.699	%		1/22/31			26,340,000		24,747,694	(c)
Morgan Stanley, Senior Notes (3.622% to 4/1/30 then SOFR + 3.120%)		3.622	%		4/1/31			42,910,000		42,742,025	(c)
Morgan Stanley, Senior Notes (3.772% to 1/24/28 then 3 mo. USD LIBOR + 1.140%)		3.772	%		1/24/29			35,353,000		35,660,151	(c)
Morgan Stanley, Senior Notes (4.431% to 1/23/29 then 3 mo. USD LIBOR + 1.628%)		4.431	%		1/23/30			1,160,000		1,214,163	(c)
UBS AG, Senior Notes		4.500	%		6/26/48	��		10,093,000		11,213,575	(a)

See Notes to Schedule of Investments.

    32     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
UBS Group AG, Junior Subordinated Notes (7.000% to 1/31/24 then USD 5 year ICE Swap Rate + 4.344%)		7.000	%		1/31/24		40,850,000	$	42,647,604	(a)(b)(c)
UBS Group AG, Senior Notes		3.491	%		5/23/23		32,680,000		32,729,056	(a)
UBS Group AG, Senior Notes		4.125	%		9/24/25		4,880,000		4,975,319	(a)
UBS Group AG, Senior Notes		4.253	%		3/23/28		15,530,000		15,860,883	(a)
UBS Group AG, Senior Notes (2.746% to 2/11/32 then 1 year Treasury Constant Maturity Rate + 1.100%)		2.746	%		2/11/33		7,140,000		6,495,915	(a)(c)
UBS Group AG, Senior Notes (2.859% to 8/15/22 then 3 mo. USD LIBOR + 0.954%)		2.859	%		8/15/23		2,300,000		2,303,894	(a)(c)
Total Capital Markets									731,819,250
Diversified Financial Services - 0.4%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.150	%		2/15/24		18,350,000		18,066,182
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		2.450	%		10/29/26		37,570,000		34,803,299
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.000	%		10/29/28		25,990,000		24,018,084
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.300	%		1/30/32		14,210,000		12,832,595
Ahold Lease USA Inc. Pass-Through-Trust, Senior Secured Notes, Step bond (8.620% to 1/2/25 then 0.000%)		8.620	%		1/2/25		1,261,206		1,374,157
GE Capital International Funding Co. Unlimited Co., Senior Notes		4.418	%		11/15/35		11,110,000		11,953,693
ILFC E-Capital Trust II, Ltd. GTD ((Highest of 3 mo. USD LIBOR, 10 year Treasury Constant Maturity Rate and 30 year Treasury Constant Maturity Rate) + 1.800%)		4.300	%		12/21/65		2,870,000		2,339,050	(a)(c)
International Lease Finance Corp., Senior Notes		5.875	%		8/15/22		3,540,000		3,583,986
National Securities Clearing Corp., Senior Notes		1.200	%		4/23/23		7,360,000		7,298,255	(a)
National Securities Clearing Corp., Senior Notes		1.500	%		4/23/25		9,000,000		8,624,390	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         33

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Financial Services - (continued)
Park Aerospace Holdings Ltd., Senior Notes		5.250	%		8/15/22		623,000	$	627,108	(a)
Park Aerospace Holdings Ltd., Senior Notes		4.500	%		3/15/23		1,170,000		1,178,886	(a)
Park Aerospace Holdings Ltd., Senior Notes		5.500	%		2/15/24		2,790,000		2,857,558	(a)
USAA Capital Corp., Senior Notes		2.125	%		5/1/30		1,100,000		1,015,601	(a)
Vanguard Group Inc.		3.050	%		8/22/50		21,230,000		18,236,782	(e)(f)
Total Diversified Financial Services									148,809,626
Insurance - 0.2%
Ambac Assurance Corp., Subordinated Notes		5.100	%		6/7/22		298,643		340,453	(a)(b)
American International Group Inc., Senior Notes		2.500	%		6/30/25		7,979,000		7,810,504
American International Group Inc., Senior Notes		3.750	%		7/10/25		12,460,000		12,674,445
Berkshire Hathaway Finance Corp., Senior Notes		4.250	%		1/15/49		19,600,000		21,561,934
Brighthouse Financial Inc., Senior Notes		4.700	%		6/22/47		374,000		364,714
Chubb INA Holdings Inc., Senior Notes		3.350	%		5/3/26		5,420,000		5,499,412
Guardian Life Global Funding, Secured Notes		1.100	%		6/23/25		5,940,000		5,595,038	(a)
MetLife Capital Trust IV, Junior Subordinated Notes		7.875	%		12/15/37		8,900,000		10,635,500	(a)
MetLife Inc., Junior Subordinated Notes (6.400% to 12/15/36 then 3 mo. USD LIBOR + 2.205%)		6.400	%		12/15/36		5,493,000		5,942,327
New York Life Global Funding, Senior Secured Notes		0.950	%		6/24/25		10,670,000		9,973,442	(a)
Principal Life Global Funding II, Secured Notes		1.250	%		6/23/25		5,400,000		5,069,798	(a)
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		7,755,000		8,580,387	(a)
Total Insurance									94,047,954
TOTAL FINANCIALS									3,597,066,197

See Notes to Schedule of Investments.

    34     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
HEALTH CARE - 3.6%
Biotechnology - 0.8%
AbbVie Inc., Senior Notes		2.300	%		11/21/22		52,120,000	$	52,312,621
AbbVie Inc., Senior Notes		3.750	%		11/14/23		3,210,000		3,273,072
AbbVie Inc., Senior Notes		2.600	%		11/21/24		47,110,000		46,827,615
AbbVie Inc., Senior Notes		3.800	%		3/15/25		10,140,000		10,338,493
AbbVie Inc., Senior Notes		3.600	%		5/14/25		9,430,000		9,562,784
AbbVie Inc., Senior Notes		2.950	%		11/21/26		10,890,000		10,804,075
AbbVie Inc., Senior Notes		3.200	%		11/21/29		75,150,000		74,336,900
AbbVie Inc., Senior Notes		4.550	%		3/15/35		140,000		150,627
AbbVie Inc., Senior Notes		4.750	%		3/15/45		472,000		515,860
AbbVie Inc., Senior Notes		4.875	%		11/14/48		2,385,000		2,706,008
AbbVie Inc., Senior Notes		4.250	%		11/21/49		14,776,000		15,389,464
Amgen Inc., Senior Notes		3.625	%		5/22/24		1,480,000		1,508,349
Amgen Inc., Senior Notes		4.663	%		6/15/51		1,933,000		2,136,385
Gilead Sciences Inc., Senior Notes		3.700	%		4/1/24		399,000		406,298
Gilead Sciences Inc., Senior Notes		3.500	%		2/1/25		5,000,000		5,070,769
Gilead Sciences Inc., Senior Notes		3.650	%		3/1/26		1,560,000		1,588,006
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		6,165,000		6,859,473
GSK Consumer Healthcare Capital US LLC, Senior Notes		3.375	%		3/24/27		12,990,000		13,004,443	(a)
GSK Consumer Healthcare Capital US LLC, Senior Notes		3.375	%		3/24/29		9,190,000		9,103,067	(a)
GSK Consumer Healthcare Capital US LLC, Senior Notes		3.625	%		3/24/32		14,120,000		14,120,795	(a)
Total Biotechnology									280,015,104
Health Care Equipment & Supplies - 0.2%
Abbott Laboratories, Senior Notes		3.750	%		11/30/26		17,140,000		17,806,131
Abbott Laboratories, Senior Notes		4.750	%		11/30/36		6,660,000		7,756,361
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		10,150,000		12,397,023
Becton Dickinson and Co., Senior Notes		3.363	%		6/6/24		8,681,000		8,759,146
Becton Dickinson and Co., Senior Notes		3.734	%		12/15/24		1,072,000		1,090,304
Becton Dickinson and Co., Senior Notes		4.685	%		12/15/44		2,251,000		2,426,049
Medtronic Inc., Senior Notes		3.500	%		3/15/25		6,594,000		6,733,975
Roche Holdings Inc., Senior Notes		2.607	%		12/13/51		20,900,000		18,144,852	(a)
Total Health Care Equipment & Supplies									75,113,841

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         35

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - 1.3%
Aetna Inc., Senior Notes		2.800	%		6/15/23		2,610,000	$	2,621,107
Anthem Inc., Senior Notes		3.125	%		5/15/22		5,280,000		5,288,313
Anthem Inc., Senior Notes		2.950	%		12/1/22		9,320,000		9,387,269
Anthem Inc., Senior Notes		3.350	%		12/1/24		4,140,000		4,174,718
Anthem Inc., Senior Notes		3.650	%		12/1/27		5,815,000		5,942,575
Anthem Inc., Senior Notes		4.375	%		12/1/47		4,000,000		4,300,748
Centene Corp., Senior Notes		4.250	%		12/15/27		8,754,000		8,795,844
Centene Corp., Senior Notes		4.625	%		12/15/29		12,769,000		12,894,647
Centene Corp., Senior Notes		3.375	%		2/15/30		3,060,000		2,884,662
Centene Corp., Senior Notes		3.000	%		10/15/30		1,400,000		1,288,014
Centene Corp., Senior Notes		2.625	%		8/1/31		1,430,000		1,275,017
Cigna Corp., Senior Notes		3.750	%		7/15/23		12,207,000		12,388,688
Cigna Corp., Senior Notes		4.125	%		11/15/25		8,050,000		8,303,842
Cigna Corp., Senior Notes		4.375	%		10/15/28		24,690,000		26,009,928
Cigna Corp., Senior Notes		2.375	%		3/15/31		10,000,000		9,170,415
Cigna Corp., Senior Notes		4.800	%		8/15/38		26,282,000		28,860,253
Cigna Corp., Senior Notes		4.900	%		12/15/48		8,400,000		9,453,318
CommonSpirit Health, Secured Notes		4.350	%		11/1/42		1,410,000		1,421,515
CVS Health Corp., Senior Notes		2.750	%		12/1/22		16,440,000		16,523,528
CVS Health Corp., Senior Notes		3.875	%		7/20/25		4,447,000		4,541,063
CVS Health Corp., Senior Notes		3.625	%		4/1/27		5,590,000		5,691,751
CVS Health Corp., Senior Notes		4.300	%		3/25/28		20,750,000		21,742,006
CVS Health Corp., Senior Notes		3.750	%		4/1/30		21,210,000		21,609,825
CVS Health Corp., Senior Notes		1.750	%		8/21/30		10,000,000		8,776,681
CVS Health Corp., Senior Notes		1.875	%		2/28/31		3,810,000		3,359,055
CVS Health Corp., Senior Notes		2.125	%		9/15/31		13,700,000		12,260,959
CVS Health Corp., Senior Notes		4.125	%		4/1/40		4,720,000		4,814,153
CVS Health Corp., Senior Notes		5.125	%		7/20/45		12,410,000		14,049,327
CVS Health Corp., Senior Notes		5.050	%		3/25/48		35,943,000		40,811,957
CVS Health Corp., Senior Notes		4.250	%		4/1/50		11,275,000		11,738,790
Fresenius Medical Care U.S. Finance II Inc., Senior Notes		4.750	%		10/15/24		780,000		805,912	(a)
HCA Inc., Senior Notes		5.375	%		2/1/25		3,542,000		3,689,861
HCA Inc., Senior Notes		7.690	%		6/15/25		723,000		800,394
HCA Inc., Senior Notes		5.375	%		9/1/26		518,000		544,418
HCA Inc., Senior Notes		5.625	%		9/1/28		700,000		757,914
HCA Inc., Senior Notes		5.875	%		2/1/29		4,060,000		4,444,969
HCA Inc., Senior Notes		3.500	%		9/1/30		15,493,000		14,994,649
HCA Inc., Senior Notes		7.500	%		11/15/95		15,410,000		18,569,050

See Notes to Schedule of Investments.

    36     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
HCA Inc., Senior Secured Notes		4.750	%		5/1/23		4,150,000	$	4,256,108
HCA Inc., Senior Secured Notes		5.000	%		3/15/24		330,000		342,233
HCA Inc., Senior Secured Notes		5.250	%		6/15/26		2,960,000		3,127,215
HCA Inc., Senior Secured Notes		4.500	%		2/15/27		1,780,000		1,841,071
HCA Inc., Senior Secured Notes		5.500	%		6/15/47		5,920,000		6,705,942
Humana Inc., Senior Notes		3.150	%		12/1/22		2,470,000		2,486,572
Humana Inc., Senior Notes		4.500	%		4/1/25		2,460,000		2,550,145
Humana Inc., Senior Notes		3.950	%		3/15/27		8,340,000		8,484,633
Humana Inc., Senior Notes		2.150	%		2/3/32		4,440,000		3,897,938
Humana Inc., Senior Notes		4.625	%		12/1/42		3,460,000		3,697,408
Humana Inc., Senior Notes		4.950	%		10/1/44		2,476,000		2,791,353
Humana Inc., Senior Notes		4.800	%		3/15/47		600,000		681,074
Tenet Healthcare Corp., Senior Secured Notes		4.375	%		1/15/30		840,000		807,421	(a)
UnitedHealth Group Inc., Senior Notes		2.375	%		10/15/22		1,990,000		1,999,861
UnitedHealth Group Inc., Senior Notes		3.500	%		6/15/23		4,480,000		4,540,079
UnitedHealth Group Inc., Senior Notes		3.750	%		7/15/25		6,210,000		6,391,955
UnitedHealth Group Inc., Senior Notes		1.250	%		1/15/26		4,790,000		4,509,312
UnitedHealth Group Inc., Senior Notes		3.875	%		12/15/28		2,622,000		2,752,291
UnitedHealth Group Inc., Senior Notes		2.000	%		5/15/30		11,310,000		10,423,756
UnitedHealth Group Inc., Senior Notes		2.300	%		5/15/31		2,750,000		2,586,490
UnitedHealth Group Inc., Senior Notes		5.700	%		10/15/40		10,000,000		12,604,711
UnitedHealth Group Inc., Senior Notes		4.250	%		6/15/48		3,420,000		3,756,744
UnitedHealth Group Inc., Senior Notes		4.450	%		12/15/48		10,480,000		11,857,576
UnitedHealth Group Inc., Senior Notes		3.700	%		8/15/49		6,465,000		6,589,630
UnitedHealth Group Inc., Senior Notes		2.900	%		5/15/50		1,080,000		961,856

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         37

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
UnitedHealth Group Inc., Senior Notes		3.875	%		8/15/59		10,385,000	$	10,754,007
UnitedHealth Group Inc., Senior Notes		3.125	%		5/15/60		1,570,000		1,403,680
Total Health Care Providers & Services									487,788,196
Pharmaceuticals - 1.3%
Bausch Health Americas Inc., Senior Notes		9.250	%		4/1/26		4,681,000		4,799,102	(a)
Bausch Health Americas Inc., Senior Notes		8.500	%		1/31/27		36,000		35,939	(a)
Bausch Health Cos. Inc., Senior Notes		9.000	%		12/15/25		5,050,000		5,237,355	(a)
Bausch Health Cos. Inc., Senior Notes		5.000	%		2/15/29		20,974,000		16,364,544	(a)
Bausch Health Cos. Inc., Senior Notes		6.250	%		2/15/29		22,301,000		18,322,613	(a)
Bausch Health Cos. Inc., Senior Notes		7.250	%		5/30/29		6,789,000		5,803,237	(a)
Bausch Health Cos. Inc., Senior Notes		5.250	%		1/30/30		62,900,000		49,511,420	(a)
Bausch Health Cos. Inc., Senior Secured Notes		5.500	%		11/1/25		590,000		585,534	(a)
Bristol-Myers Squibb Co., Senior Notes		2.600	%		5/16/22		14,560,000		14,574,556
Bristol-Myers Squibb Co., Senior Notes		3.550	%		8/15/22		4,650,000		4,688,620
Bristol-Myers Squibb Co., Senior Notes		2.900	%		7/26/24		25,023,000		25,221,715
Bristol-Myers Squibb Co., Senior Notes		3.200	%		6/15/26		12,042,000		12,239,345
Bristol-Myers Squibb Co., Senior Notes		3.400	%		7/26/29		2,693,000		2,744,079
Bristol-Myers Squibb Co., Senior Notes		4.550	%		2/20/48		3,441,000		3,910,435
GlaxoSmithKline Capital PLC, Senior Notes		2.850	%		5/8/22		1,000,000		1,001,980
Johnson & Johnson, Senior Notes		0.550	%		9/1/25		9,820,000		9,165,938
Johnson & Johnson, Senior Notes		0.950	%		9/1/27		19,580,000		17,936,796
Johnson & Johnson, Senior Notes		3.625	%		3/3/37		29,750,000		30,825,868
Johnson & Johnson, Senior Notes		2.100	%		9/1/40		3,700,000		3,131,594

See Notes to Schedule of Investments.

    38     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - (continued)
Merck & Co. Inc., Senior Notes		0.750	%		2/24/26		17,050,000	$	15,936,784
Merck & Co. Inc., Senior Notes		1.450	%		6/24/30		9,130,000		8,118,109
Merck & Co. Inc., Senior Notes		2.750	%		12/10/51		20,400,000		17,811,667
Pfizer Inc., Senior Notes		0.800	%		5/28/25		20,340,000		19,257,001
Pfizer Inc., Senior Notes		2.625	%		4/1/30		14,195,000		13,798,283
Pfizer Inc., Senior Notes		1.700	%		5/28/30		13,010,000		11,803,259
Pfizer Inc., Senior Notes		7.200	%		3/15/39		5,000		7,351
Teva Pharmaceutical Finance Co. BV, Senior Notes		2.950	%		12/18/22		7,388,000		7,353,794
Teva Pharmaceutical Finance Co. LLC, Senior Notes		6.150	%		2/1/36		2,420,000		2,449,197
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		2.800	%		7/21/23		25,567,000		25,249,969
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		6.000	%		4/15/24		2,985,000		3,063,296
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		7.125	%		1/31/25		10,230,000		10,774,184
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		3.150	%		10/1/26		54,840,000		49,750,848
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		4.750	%		5/9/27		6,270,000		6,026,724
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		6.750	%		3/1/28		4,000,000		4,201,560
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		5.125	%		5/9/29		25,910,000		24,940,966
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		4.100	%		10/1/46		21,910,000		17,243,937
Wyeth LLC, Senior Notes		5.950	%		4/1/37		5,098,000		6,503,230
Total Pharmaceuticals									470,390,829
TOTAL HEALTH CARE									1,313,307,970
INDUSTRIALS - 2.6%
Aerospace & Defense - 1.1%
Boeing Co., Senior Notes		1.433	%		2/4/24		11,330,000		10,965,146
Boeing Co., Senior Notes		4.875	%		5/1/25		45,320,000		46,798,508
Boeing Co., Senior Notes		2.196	%		2/4/26		21,860,000		20,691,210
Boeing Co., Senior Notes		3.100	%		5/1/26		3,720,000		3,659,953
Boeing Co., Senior Notes		2.700	%		2/1/27		5,050,000		4,851,557
Boeing Co., Senior Notes		2.800	%		3/1/27		4,740,000		4,542,433
Boeing Co., Senior Notes		3.200	%		3/1/29		16,620,000		15,857,438
Boeing Co., Senior Notes		5.150	%		5/1/30		23,970,000		25,599,893

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         39

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Aerospace & Defense - (continued)
Boeing Co., Senior Notes		3.250	%		2/1/35		32,524,000	$	29,101,505
Boeing Co., Senior Notes		3.550	%		3/1/38		3,780,000		3,330,227
Boeing Co., Senior Notes		5.705	%		5/1/40		23,976,000		26,861,569
Boeing Co., Senior Notes		3.750	%		2/1/50		9,510,000		8,497,758
Boeing Co., Senior Notes		5.805	%		5/1/50		42,300,000		48,994,419
Boeing Co., Senior Notes		5.930	%		5/1/60		14,430,000		16,715,053
General Dynamics Corp., Senior Notes		3.250	%		4/1/25		1,740,000		1,759,922
General Dynamics Corp., Senior Notes		3.500	%		5/15/25		1,990,000		2,026,785
General Dynamics Corp., Senior Notes		4.250	%		4/1/40		1,535,000		1,680,597
General Dynamics Corp., Senior Notes		4.250	%		4/1/50		8,121,000		9,164,847
L3Harris Technologies Inc., Senior Notes		4.854	%		4/27/35		2,988,000		3,253,765
L3Harris Technologies Inc., Senior Notes		5.054	%		4/27/45		2,940,000		3,334,831
Lockheed Martin Corp., Senior Notes		3.100	%		1/15/23		2,269,000		2,289,273
Lockheed Martin Corp., Senior Notes		3.550	%		1/15/26		13,115,000		13,440,777
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		2,420,000		2,676,547
Northrop Grumman Corp., Senior Notes		2.930	%		1/15/25		16,925,000		16,977,587
Northrop Grumman Corp., Senior Notes		3.250	%		1/15/28		29,720,000		29,775,450
Northrop Grumman Corp., Senior Notes		5.250	%		5/1/50		20,320,000		25,424,021
Raytheon Technologies Corp., Senior Notes		3.150	%		12/15/24		6,150,000		6,182,791
Raytheon Technologies Corp., Senior Notes		3.950	%		8/16/25		14,150,000		14,607,181
Raytheon Technologies Corp., Senior Notes		4.125	%		11/16/28		7,780,000		8,143,714
Raytheon Technologies Corp., Senior Notes		2.250	%		7/1/30		13,000,000		12,058,309
Raytheon Technologies Corp., Senior Notes		4.500	%		6/1/42		4,109,000		4,547,382
Total Aerospace & Defense									423,810,448

See Notes to Schedule of Investments.

    40     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Airlines - 0.6%
Continental Airlines Pass-Through Trust		5.983	%		4/19/22		1,758,908	$	1,761,459
Delta Air Lines Inc., Senior Notes		3.800	%		4/19/23		4,300,000		4,331,433
Delta Air Lines Inc., Senior Notes		2.900	%		10/28/24		9,750,000		9,546,176
Delta Air Lines Inc., Senior Notes		7.375	%		1/15/26		17,870,000		19,426,477
Delta Air Lines Inc., Senior Secured Notes		7.000	%		5/1/25		67,950,000		72,837,906	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.500	%		10/20/25		16,970,000		17,081,944	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.750	%		10/20/28		15,300,000		15,443,875	(a)
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes		6.500	%		6/20/27		15,750,000		16,439,063	(a)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes		8.000	%		9/20/25		11,735,997		12,519,257	(a)
United Airlines Inc., Senior Secured Notes		4.375	%		4/15/26		10,350,000		10,194,750	(a)
United Airlines Inc., Senior Secured Notes		4.625	%		4/15/29		27,030,000		25,738,642	(a)
Total Airlines									205,320,982
Building Products - 0.0%††
Builders FirstSource Inc., Senior Notes		4.250	%		2/1/32		1,640,000		1,529,858	(a)
Carrier Global Corp., Senior Notes		3.577	%		4/5/50		840,000		771,469
Total Building Products									2,301,327
Commercial Services & Supplies - 0.1%
ADT Security Corp., Senior Secured Notes		4.125	%		8/1/29		810,000		753,340	(a)
Allied Universal Holdco LLC/Allied Universal Finance Corp., Senior Secured Notes		6.625	%		7/15/26		860,000		871,352	(a)
Cintas Corp. No 2, Senior Notes		2.900	%		4/1/22		7,980,000		7,980,000
Cintas Corp. No 2, Senior Notes		3.700	%		4/1/27		7,500,000		7,687,950
CoreCivic Inc., Senior Notes		4.750	%		10/15/27		540,000		471,666
GFL Environmental Inc., Senior Secured Notes		4.250	%		6/1/25		7,650,000		7,611,253	(a)
Republic Services Inc., Senior Notes		2.500	%		8/15/24		9,100,000		9,010,846
Total Commercial Services & Supplies									34,386,407

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         41

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Containers & Packaging - 0.0%††
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Senior Notes		4.000	%		9/1/29		780,000	$	703,794	(a)
Electrical Equipment - 0.1%
Eaton Corp., Senior Notes		2.750	%		11/2/22		25,195,000		25,339,883
Eaton Corp., Senior Notes		4.150	%		11/2/42		4,160,000		4,339,516
Vertiv Group Corp., Senior Secured Notes		4.125	%		11/15/28		5,265,000		4,811,157	(a)
Total Electrical Equipment									34,490,556
Industrial Conglomerates - 0.1%
3M Co., Senior Notes		2.375	%		8/26/29		10,110,000		9,626,093
3M Co., Senior Notes		3.050	%		4/15/30		3,400,000		3,384,791
3M Co., Senior Notes		3.700	%		4/15/50		20,000,000		20,276,854
General Electric Co., Senior Notes		6.750	%		3/15/32		5,539,000		6,992,503
Honeywell International Inc., Senior Notes		1.350	%		6/1/25		9,750,000		9,402,194
Total Industrial Conglomerates									49,682,435
Machinery - 0.1%
Deere & Co., Senior Notes		3.100	%		4/15/30		4,080,000		4,091,314
Deere & Co., Senior Notes		3.750	%		4/15/50		24,850,000		26,392,919
Otis Worldwide Corp., Senior Notes		2.056	%		4/5/25		6,550,000		6,383,551
Total Machinery									36,867,784
Road & Rail - 0.2%
Burlington Northern Santa Fe LLC, Senior Notes		2.875	%		6/15/52		2,120,000		1,882,773
Canadian Pacific Railway Co., Senior Notes		3.000	%		12/2/41		730,000		658,232
Canadian Pacific Railway Co., Senior Notes		3.100	%		12/2/51		10,360,000		9,186,341
Union Pacific Corp., Senior Notes		3.750	%		7/15/25		8,730,000		8,953,340
Union Pacific Corp., Senior Notes		2.150	%		2/5/27		4,380,000		4,216,937
Union Pacific Corp., Senior Notes		2.891	%		4/6/36		28,460,000		26,650,732
Union Pacific Corp., Senior Notes		3.839	%		3/20/60		23,430,000		23,637,724
Union Pacific Corp., Senior Notes		3.750	%		2/5/70		12,515,000		12,253,858
XPO Logistics Inc., Senior Notes		6.250	%		5/1/25		2,567,000		2,656,331	(a)
Total Road & Rail									90,096,268

See Notes to Schedule of Investments.

    42     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Trading Companies & Distributors - 0.2%
Air Lease Corp., Senior Notes		3.375	%		7/1/25		9,600,000	$	9,472,666
H&E Equipment Services Inc., Senior Notes		3.875	%		12/15/28		4,744,000		4,453,406	(a)
United Rentals North America Inc., Secured Notes		3.875	%		11/15/27		2,380,000		2,360,627
United Rentals North America Inc., Senior Notes		5.500	%		5/15/27		190,000		196,737
United Rentals North America Inc., Senior Notes		4.875	%		1/15/28		5,413,000		5,504,480
United Rentals North America Inc., Senior Notes		5.250	%		1/15/30		1,560,000		1,611,605
United Rentals North America Inc., Senior Notes		3.875	%		2/15/31		28,270,000		26,689,141
United Rentals North America Inc., Senior Notes		3.750	%		1/15/32		10,600,000		9,903,103
Total Trading Companies & Distributors									60,191,765
Transportation Infrastructure - 0.1%
DP World Ltd., Senior Notes		5.625	%		9/25/48		27,030,000		29,335,740	(a)
TOTAL INDUSTRIALS									967,187,506
INFORMATION TECHNOLOGY - 1.8%
Communications Equipment - 0.0%††
CommScope Inc., Senior Secured Notes		6.000	%		3/1/26		2,935,000		2,972,568	(a)
CommScope Inc., Senior Secured Notes		4.750	%		9/1/29		840,000		774,799	(a)
CommScope Technologies LLC, Senior Notes		5.000	%		3/15/27		2,740,000		2,385,609	(a)
Total Communications Equipment									6,132,976
IT Services - 0.4%
International Business Machines Corp., Senior Notes		3.000	%		5/15/24		40,290,000		40,576,021
Mastercard Inc., Senior Notes		3.850	%		3/26/50		4,530,000		4,808,638
PayPal Holdings Inc., Senior Notes		1.350	%		6/1/23		11,850,000		11,819,846
PayPal Holdings Inc., Senior Notes		1.650	%		6/1/25		12,430,000		11,964,799
PayPal Holdings Inc., Senior Notes		2.300	%		6/1/30		6,750,000		6,292,403
Visa Inc., Senior Notes		3.150	%		12/14/25		26,130,000		26,449,472
Visa Inc., Senior Notes		2.050	%		4/15/30		9,790,000		9,147,465
Visa Inc., Senior Notes		4.300	%		12/14/45		16,470,000		18,536,773
Total IT Services									129,595,417
Semiconductors & Semiconductor Equipment - 0.5%
Broadcom Inc., Senior Notes		4.150	%		11/15/30		2,846,000		2,888,931
Broadcom Inc., Senior Notes		3.137	%		11/15/35		58,100,000		51,307,306	(a)
Broadcom Inc., Senior Notes		3.187	%		11/15/36		154,000		134,009	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         43

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Semiconductors & Semiconductor Equipment - (continued)
Intel Corp., Senior Notes		3.700	%		7/29/25		4,050,000	$	4,150,860
Intel Corp., Senior Notes		1.600	%		8/12/28		12,160,000		11,107,520
Intel Corp., Senior Notes		4.750	%		3/25/50		11,385,000		13,319,144
Intel Corp., Senior Notes		3.050	%		8/12/51		5,950,000		5,316,911
NVIDIA Corp., Senior Notes		2.850	%		4/1/30		7,890,000		7,772,469
NVIDIA Corp., Senior Notes		3.500	%		4/1/40		17,250,000		17,415,721
NVIDIA Corp., Senior Notes		3.500	%		4/1/50		49,120,000		49,797,222
NVIDIA Corp., Senior Notes		3.700	%		4/1/60		16,020,000		16,304,333
NXP BV/NXP Funding LLC/NXP USA Inc., Senior Notes		2.700	%		5/1/25		8,540,000		8,286,574	(a)
Texas Instruments Inc., Senior Notes		1.750	%		5/4/30		8,690,000		7,918,165
Total Semiconductors & Semiconductor Equipment									195,719,165
Software - 0.7%
Microsoft Corp., Senior Notes		2.875	%		2/6/24		19,298,000		19,550,947
Microsoft Corp., Senior Notes		2.700	%		2/12/25		4,322,000		4,352,678
Microsoft Corp., Senior Notes		2.400	%		8/8/26		74,200,000		73,656,123
Microsoft Corp., Senior Notes		3.300	%		2/6/27		40,450,000		41,537,890
Microsoft Corp., Senior Notes		3.450	%		8/8/36		367,000		382,554
Microsoft Corp., Senior Notes		2.525	%		6/1/50		1,686,000		1,460,698
Microsoft Corp., Senior Notes		2.921	%		3/17/52		3,247,000		3,056,053
Microsoft Corp., Senior Notes		2.675	%		6/1/60		671,000		580,851
Microsoft Corp., Senior Notes		3.041	%		3/17/62		3,169,000		2,970,471
Open Text Holdings Inc., Senior Notes		4.125	%		2/15/30		820,000		779,164	(a)
Oracle Corp., Senior Notes		1.650	%		3/25/26		36,230,000		33,831,865
Oracle Corp., Senior Notes		2.950	%		4/1/30		2,670,000		2,466,440
Oracle Corp., Senior Notes		2.875	%		3/25/31		42,310,000		38,643,325
salesforce.com Inc., Senior Notes		3.250	%		4/11/23		11,370,000		11,517,448
salesforce.com Inc., Senior Notes		3.700	%		4/11/28		3,480,000		3,600,460
Workday Inc., Senior Notes		3.500	%		4/1/27		6,020,000		6,022,537	(d)
Workday Inc., Senior Notes		3.700	%		4/1/29		10,220,000		10,252,032	(d)
Workday Inc., Senior Notes		3.800	%		4/1/32		12,300,000		12,291,791	(d)
Total Software									266,953,327
Technology Hardware, Storage & Peripherals - 0.2%
Apple Inc., Senior Notes		1.125	%		5/11/25		33,600,000		32,107,091
Apple Inc., Senior Notes		2.450	%		8/4/26		32,030,000		31,673,049
Total Technology Hardware, Storage & Peripherals									63,780,140
TOTAL INFORMATION TECHNOLOGY									662,181,025

See Notes to Schedule of Investments.

    44     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
MATERIALS - 1.1%
Chemicals - 0.3%
Equate Petrochemical BV, Senior Notes		4.250	%		11/3/26		14,230,000	$	14,452,344	(a)
LyondellBasell Industries NV, Senior Notes		5.750	%		4/15/24		1,533,000		1,601,336
OCP SA, Senior Notes		4.500	%		10/22/25		14,510,000		14,576,906	(a)
OCP SA, Senior Notes		3.750	%		6/23/31		12,000,000		10,918,560	(a)
OCP SA, Senior Notes		5.125	%		6/23/51		11,820,000		9,869,700	(a)
Orbia Advance Corp. SAB de CV, Senior Notes		1.875	%		5/11/26		28,040,000		26,316,101	(a)
Orbia Advance Corp. SAB de CV, Senior Notes		2.875	%		5/11/31		26,600,000		23,594,067	(a)
Total Chemicals									101,329,014
Containers & Packaging - 0.0%††
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes		5.250	%		8/15/27		610,000		564,558	(a)
Ball Corp., Senior Notes		3.125	%		9/15/31		12,830,000		11,494,397
Total Containers & Packaging									12,058,955
Metals & Mining - 0.7%
Anglo American Capital PLC, Senior Notes		3.625	%		9/11/24		3,400,000		3,398,400	(a)
Anglo American Capital PLC, Senior Notes		4.750	%		4/10/27		9,785,000		10,165,584	(a)
Anglo American Capital PLC, Senior Notes		4.000	%		9/11/27		13,125,000		13,173,810	(a)
ArcelorMittal SA, Senior Notes		7.000	%		10/15/39		3,490,000		4,105,095
Barrick Gold Corp., Senior Notes		5.250	%		4/1/42		1,590,000		1,845,925
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		8,454,000		10,308,285
Barrick North America Finance LLC, Senior Notes		5.750	%		5/1/43		8,260,000		10,092,103
BHP Billiton Finance USA Ltd., Senior Notes		5.000	%		9/30/43		7,630,000		9,084,848
First Quantum Minerals Ltd., Senior Notes		6.875	%		10/15/27		1,750,000		1,834,962	(a)
Freeport-McMoRan Inc., Senior Notes		3.875	%		3/15/23		40,000		40,486
Freeport-McMoRan Inc., Senior Notes		4.550	%		11/14/24		130,000		134,109

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         45

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Metals & Mining - (continued)
Freeport-McMoRan Inc., Senior Notes		4.625	%		8/1/30		5,720,000	$	5,855,278
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		26,672,000		29,920,649
Glencore Finance Canada Ltd., Senior Notes		6.000	%		11/15/41		2,120,000		2,482,128	(a)
Glencore Funding LLC, Senior Notes		3.000	%		10/27/22		21,610,000		21,697,283	(a)
Glencore Funding LLC, Senior Notes		4.125	%		5/30/23		3,200,000		3,256,832	(a)
Glencore Funding LLC, Senior Notes		4.125	%		3/12/24		33,008,000		33,476,546	(a)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		15,750,000		15,822,231	(a)
Hudbay Minerals Inc., Senior Notes		6.125	%		4/1/29		870,000		897,422	(a)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		32,800,000		37,175,192
Teck Resources Ltd., Senior Notes		3.900	%		7/15/30		5,000,000		5,000,595
Teck Resources Ltd., Senior Notes		6.000	%		8/15/40		641,000		737,921
Vale Overseas Ltd., Senior Notes		6.250	%		8/10/26		6,600,000		7,252,905
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36		6,581,000		7,950,967
Yamana Gold Inc., Senior Notes		4.625	%		12/15/27		10,350,000		10,526,466
Total Metals & Mining									246,236,022
Paper & Forest Products - 0.1%
Suzano Austria GmbH, Senior Notes		3.750	%		1/15/31		42,390,000		39,983,096
Suzano Austria GmbH, Senior Notes		3.125	%		1/15/32		10,070,000		8,938,031
Total Paper & Forest Products									48,921,127
TOTAL MATERIALS									408,545,118
REAL ESTATE - 0.1%
Equity Real Estate Investment Trusts (REITs) - 0.1%
CTR Partnership LP/CareTrust Capital Corp., Senior Notes		3.875	%		6/30/28		3,294,000		3,109,569	(a)
MGM Growth Properties Operating Partnership LP/MGP Finance Co-Issuer Inc., Senior Notes		4.500	%		1/15/28		340,000		343,777
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes		5.000	%		10/15/27		3,290,000		3,349,220
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes		4.625	%		8/1/29		2,120,000		2,102,807
MPT Operating Partnership LP/MPT Finance Corp., Senior Notes		3.500	%		3/15/31		13,982,000		13,009,093

See Notes to Schedule of Investments.

    46     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Equity Real Estate Investment Trusts (REITs) - (continued)
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		3.750	%		9/17/24		23,980,000	$	23,957,012	(a)
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		4.750	%		9/17/44		600,000		567,400	(a)
TOTAL REAL ESTATE									46,438,878
UTILITIES - 0.5%
Electric Utilities - 0.5%
American Transmission Systems Inc., Senior Notes		2.650	%		1/15/32		6,040,000		5,587,286	(a)
Berkshire Hathaway Energy Co., Senior Notes		6.125	%		4/1/36		156,000		192,671
Duke Energy Carolinas LLC, First Mortgage Bonds		5.300	%		2/15/40		3,000,000		3,550,944
Duke Energy Ohio Inc., Secured Bonds		3.650	%		2/1/29		7,740,000		7,878,229
Duke Energy Progress LLC, Secured Bonds		2.800	%		5/15/22		400,000		400,484
Exelon Corp., Senior Notes		5.625	%		6/15/35		5,126,000		5,812,852
FirstEnergy Corp., Senior Notes		1.600	%		1/15/26		5,780,000		5,398,636
FirstEnergy Corp., Senior Notes		4.400	%		7/15/27		15,802,000		15,929,443
FirstEnergy Corp., Senior Notes		7.375	%		11/15/31		59,186,000		73,106,547
FirstEnergy Corp., Senior Notes		5.350	%		7/15/47		10,344,000		10,814,962
Pacific Gas and Electric Co., First Mortgage Bonds		1.750	%		6/16/22		21,610,000		21,587,731
Pacific Gas and Electric Co., First Mortgage Bonds		2.100	%		8/1/27		6,640,000		5,977,474
Pacific Gas and Electric Co., First Mortgage Bonds		2.500	%		2/1/31		8,320,000		7,188,379
Pacific Gas and Electric Co., First Mortgage Bonds		3.300	%		8/1/40		1,720,000		1,411,435
Pacific Gas and Electric Co., First Mortgage Bonds		3.500	%		8/1/50		4,040,000		3,263,952
Progress Energy Inc., Senior Notes		6.000	%		12/1/39		4,800,000		5,733,629
Total Electric Utilities									173,834,654

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         47

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Multi-Utilities - 0.0%††
Consolidated Edison Co. of New York Inc., Senior Notes		3.350	%		4/1/30		5,400,000	$	5,389,037
Consolidated Edison Co. of New York Inc., Senior Notes		3.950	%		4/1/50		4,490,000		4,636,775
Dominion Energy Inc., Senior Notes		7.000	%		6/15/38		3,600,000		4,700,942
Total Multi-Utilities									14,726,754
TOTAL UTILITIES									188,561,408
TOTAL CORPORATE BONDS & NOTES (Cost - $12,756,480,517)									12,531,736,333
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 24.2%
U.S. Government Agencies - 0.1%
Federal National Mortgage Association (FNMA), Notes		6.625	%		11/15/30		45,010,000		59,030,649
U.S. Government Obligations - 24.1%
Department of Housing and Urban Development, Notes		2.850	%		8/1/24		4,537,000		4,553,683
Department of Housing and Urban Development, Senior Notes		2.450	%		8/1/22		9,000,000		9,050,174
U.S. Treasury Bonds		1.125	%		8/15/40		206,960,000		162,407,009
U.S. Treasury Bonds		2.250	%		5/15/41		116,890,000		110,442,786
U.S. Treasury Bonds		1.750	%		8/15/41		214,870,000		186,366,152
U.S. Treasury Bonds		2.000	%		11/15/41		251,870,000		227,981,705
U.S. Treasury Bonds		3.750	%		11/15/43		210,430,000		249,100,622	(g)(h)
U.S. Treasury Bonds		3.625	%		2/15/44		297,160,000		345,918,616	(g)(h)
U.S. Treasury Bonds		2.500	%		2/15/45		56,680,000		55,258,572
U.S. Treasury Bonds		2.875	%		8/15/45		529,920,000		552,917,701	(g)
U.S. Treasury Bonds		2.000	%		2/15/50		139,610,800		125,927,851
U.S. Treasury Bonds		1.250	%		5/15/50		1,000,710,000		747,639,828
U.S. Treasury Bonds		1.375	%		8/15/50		923,530,000		711,839,608
U.S. Treasury Bonds		1.625	%		11/15/50		498,870,000		409,424,165
U.S. Treasury Bonds		1.875	%		2/15/51		725,390,000		634,744,584
U.S. Treasury Bonds		2.375	%		5/15/51		255,615,000		250,787,271
U.S. Treasury Bonds		2.000	%		8/15/51		136,330,000		123,037,825
U.S. Treasury Bonds		1.875	%		11/15/51		196,898,000		172,777,995
U.S. Treasury Bonds		2.250	%		2/15/52		305,006,000		292,615,131
U.S. Treasury Notes		0.125	%		7/15/23		850,000		829,829
U.S. Treasury Notes		0.125	%		7/31/23		100,000		97,502
U.S. Treasury Notes		2.875	%		9/30/23		560,000		566,355
U.S. Treasury Notes		0.125	%		10/15/23		900,000		872,455
U.S. Treasury Notes		0.250	%		11/15/23		3,155,000		3,057,824
U.S. Treasury Notes		0.625	%		10/15/24		20,670,000		19,735,005
U.S. Treasury Notes		0.250	%		5/31/25		739,870,000		688,743,829

See Notes to Schedule of Investments.

    48     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
U.S. Government Obligations - (continued)
U.S. Treasury Notes		0.250	%		6/30/25		586,290,000	$	544,780,211
U.S. Treasury Notes		0.250	%		8/31/25		2,440,000		2,258,001
U.S. Treasury Notes		0.250	%		9/30/25		5,620,000		5,192,463
U.S. Treasury Notes		0.250	%		10/31/25		12,820,000		11,822,193
U.S. Treasury Notes		0.375	%		11/30/25		43,600,000		40,317,226
U.S. Treasury Notes		0.375	%		1/31/26		3,110,000		2,865,999
U.S. Treasury Notes		0.750	%		3/31/26		22,930,000		21,387,151
U.S. Treasury Notes		0.875	%		6/30/26		59,610,000		55,685,287
U.S. Treasury Notes		0.875	%		9/30/26		56,510,000		52,610,589
U.S. Treasury Notes		1.250	%		11/30/26		3,300,000		3,122,689
U.S. Treasury Notes		0.750	%		1/31/28		179,230,000		162,616,220
U.S. Treasury Notes		1.250	%		3/31/28		278,610,000		259,928,982
U.S. Treasury Notes		1.250	%		4/30/28		750,390,000		699,181,743
U.S. Treasury Notes		1.250	%		5/31/28		325,570,000		303,161,629
U.S. Treasury Notes		1.250	%		6/30/28		366,330,000		340,844,308
U.S. Treasury Notes		1.125	%		8/31/28		110,330,000		101,671,681
U.S. Treasury Notes		3.125	%		11/15/28		5,000		5,207
U.S. Treasury Notes		1.625	%		5/15/31		107,300,000		101,050,613
U.S. Treasury Notes		1.250	%		8/15/31		40,660,000		36,972,011
U.S. Treasury Strip Principal (STRIPS)		0.000	%		11/15/24		6,080,000		5,700,505
U.S. Treasury Strip Principal (STRIPS)		0.000	%		5/15/49		152,060,000		79,059,691
Total U.S. Government Obligations									8,916,928,476
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $9,862,706,397)									8,975,959,125
MORTGAGE-BACKED SECURITIES - 17.6%
FHLMC - 3.6%
Federal Home Loan Mortgage Corp. (FHLMC)		5.000	%		6/1/23-11/1/41		4,816,130		5,192,416
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		9/1/32-1/1/52		72,143,534		71,403,282
Federal Home Loan Mortgage Corp. (FHLMC)		3.500	%		8/1/33-2/1/52		44,832,102		45,743,469
Federal Home Loan Mortgage Corp. (FHLMC)		6.000	%		8/1/36		358		393
Federal Home Loan Mortgage Corp. (FHLMC)		5.500	%		12/1/38		1,867,215		2,059,498
Federal Home Loan Mortgage Corp. (FHLMC)		2.500	%		4/1/41-2/1/52		378,259,778		362,754,848
Federal Home Loan Mortgage Corp. (FHLMC)		2.000	%		9/1/41-2/1/52		440,195,051		410,869,800

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         49

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FHLMC - (continued)
Federal Home Loan Mortgage Corp. (FHLMC)		1.500	%		10/1/41-11/1/41		5,881,537	$	5,333,533
Federal Home Loan Mortgage Corp. (FHLMC)		4.000	%		9/1/42-3/1/50		67,558,837		69,764,904
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		3/1/47-3/1/49		25,904,932		27,216,052
Federal Home Loan Mortgage Corp. (FHLMC)		2.500	%		7/1/51-3/1/52		27,947,501		26,840,997	(d)
Federal Home Loan Mortgage Corp. (FHLMC)		2.000	%		9/1/51-11/1/51		26,017,818		24,225,990	(d)
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		10/1/51		10,563,177		10,403,504	(d)
Federal Home Loan Mortgage Corp. (FHLMC) (12 mo. USD LIBOR + 1.619%)		2.872	%		11/1/47		19,571,914		19,729,574	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (12 mo. USD LIBOR + 1.623%)		3.089	%		2/1/50		27,344,702		27,502,754	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (12 mo. USD LIBOR + 1.628%)		3.012	%		11/1/48		54,968,981		55,238,421	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (5 year Treasury Constant Maturity Rate + 1.285%)		2.130	%		3/1/47		3,626,275		3,602,751	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.500	%		7/1/23-6/1/47		3,906,256		4,118,639
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.000	%		9/1/23-5/1/48		1,355,779		1,443,888
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.500	%		7/1/29-9/1/39		1,429,990		1,565,603
Federal Home Loan Mortgage Corp. (FHLMC) Gold		7.000	%		4/1/32-3/1/39		385,964		431,934
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.500	%		8/1/33-3/1/45		14,525,572		14,850,153
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.500	%		11/1/35		2,832		3,031
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.000	%		11/1/36		8,407		9,401

See Notes to Schedule of Investments.

    50     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FHLMC - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.000	%		2/1/38-9/1/48		96,634,269	$	96,127,506
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.000	%		10/1/42-8/1/47		35,366,378		36,830,899
Total FHLMC									1,323,263,240
FNMA - 11.8%
Federal National Mortgage Association (FNMA)		4.500	%		7/1/23-1/1/59		203,266,908		215,285,335
Federal National Mortgage Association (FNMA)		6.000	%		4/1/24-7/1/41		19,125,974		21,310,741
Federal National Mortgage Association (FNMA)		2.810	%		4/1/25		3,150,000		3,150,201
Federal National Mortgage Association (FNMA)		3.200	%		2/1/29		274,519		279,981
Federal National Mortgage Association (FNMA)		6.500	%		2/1/29-5/1/40		6,177,761		6,849,872
Federal National Mortgage Association (FNMA)		3.450	%		3/1/29		620,615		642,668
Federal National Mortgage Association (FNMA)		3.160	%		5/1/29		5,779,403		5,891,097
Federal National Mortgage Association (FNMA)		3.250	%		5/1/29		691,054		708,040
Federal National Mortgage Association (FNMA)		7.000	%		8/1/29-2/1/39		2,019,944		2,267,484
Federal National Mortgage Association (FNMA)		7.500	%		11/1/29		1,169		1,291
Federal National Mortgage Association (FNMA)		3.468	%		3/1/30		1,182,429		1,221,132
Federal National Mortgage Association (FNMA)		2.260	%		4/1/30		8,460,983		8,166,505
Federal National Mortgage Association (FNMA)		2.930	%		6/1/30		1,024,957		1,028,074
Federal National Mortgage Association (FNMA)		2.150	%		2/1/32		2,960,000		2,773,416	(c)
Federal National Mortgage Association (FNMA)		5.000	%		7/1/33-11/1/46		40,323,564		43,312,526
Federal National Mortgage Association (FNMA)		3.500	%		9/1/33-6/1/51		412,583,641		418,935,977
Federal National Mortgage Association (FNMA)		3.000	%		7/1/35-2/1/52		587,272,402		582,259,162

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         51

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		1.500	%		12/1/35-3/1/36		8,065,859	$	7,661,137
Federal National Mortgage Association (FNMA)		5.500	%		11/1/36-9/1/56		19,758,317		22,010,151
Federal National Mortgage Association (FNMA)		2.500	%		3/1/38-3/1/52		735,547,415		706,043,604
Federal National Mortgage Association (FNMA)		2.000	%		12/1/41-2/1/52		432,065,885		402,748,542
Federal National Mortgage Association (FNMA)		4.000	%		4/1/42-6/1/57		354,177,265		369,033,414
Federal National Mortgage Association (FNMA)		2.500	%		3/1/51-4/1/52		98,048,679		94,002,014	(d)
Federal National Mortgage Association (FNMA)		2.000	%		4/1/51-3/1/52		225,191,865		209,642,463	(d)
Federal National Mortgage Association (FNMA)		3.000	%		8/1/51-3/1/52		176,737,832		174,940,106	(d)
Federal National Mortgage Association (FNMA)		2.500	%		4/1/52-5/1/52		316,300,000		301,631,323	(i)
Federal National Mortgage Association (FNMA)		3.000	%		4/1/52-5/1/52		225,300,000		220,401,224	(i)
Federal National Mortgage Association (FNMA)		3.500	%		5/1/52-6/1/52		463,000,000		461,469,003	(i)
Federal National Mortgage Association (FNMA)		4.000	%		6/1/52		67,100,000		68,041,277	(i)
Federal National Mortgage Association (FNMA) (Federal Reserve US 12 mo. Cumulative Average 1 Year CMT + 1.859%)		1.876	%		11/1/35		9,251		9,665	(c)
Total FNMA									4,351,717,425
GNMA - 2.2%
Government National Mortgage Association (GNMA)		7.500	%		3/15/23-9/15/31		11,452		12,032
Government National Mortgage Association (GNMA)		7.000	%		9/15/23-7/15/31		26,681		28,985
Government National Mortgage Association (GNMA)		6.500	%		4/15/28-1/15/39		1,389,035		1,512,665
Government National Mortgage Association (GNMA)		6.000	%		1/15/29-2/15/37		4,060,676		4,418,057
Government National Mortgage Association (GNMA)		8.000	%		12/15/30-1/15/31		7,996		8,134

See Notes to Schedule of Investments.

    52     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA)		5.500	%		7/15/33-6/15/36		2,925,579		$	3,241,149
Government National Mortgage Association (GNMA)		3.000	%		9/15/42-11/15/42		28,622,020			28,572,011
Government National Mortgage Association (GNMA)		4.000	%		4/15/47-3/15/50		21,931,560			23,443,152
Government National Mortgage Association (GNMA)		3.500	%		6/15/48-5/15/50		10,581,658			10,835,568
Government National Mortgage Association (GNMA) II		5.000	%		4/20/35-12/20/51		5,787,006			6,274,272
Government National Mortgage Association (GNMA) II		6.500	%		10/20/37		939,203			1,056,061
Government National Mortgage Association (GNMA) II		6.000	%		9/20/38-11/20/41		2,075,976			2,291,870
Government National Mortgage Association (GNMA) II		4.500	%		1/20/40-12/20/50		108,963,011			113,996,843
Government National Mortgage Association (GNMA) II		3.500	%		6/20/44-7/20/50		116,828,758			118,769,601
Government National Mortgage Association (GNMA) II		4.000	%		3/20/45-4/20/50		94,180,676			97,510,787
Government National Mortgage Association (GNMA) II		3.000	%		1/20/46-9/20/51		68,529,813			67,935,547
Government National Mortgage Association (GNMA) II		3.000	%		3/20/52		500,000			503,153	(d)
Government National Mortgage Association (GNMA) II		3.000	%		5/1/52-6/1/52		215,000,000			211,767,172	(i)
Government National Mortgage Association (GNMA) II		3.500	%		5/1/52-6/1/52		107,100,000			107,189,250	(i)
Government National Mortgage Association (GNMA) II		4.000	%		6/1/52		22,400,000			22,684,375	(i)
Total GNMA										822,050,684
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $6,728,223,161)										6,497,031,349
SOVEREIGN BONDS - 7.8%
Argentina - 0.1%
Argentine Bonos del Tesoro, Bonds		16.000	%		10/17/23		70,110,000	ARS		244,573	(e)
Argentine Republic Government International Bond, Senior Notes		1.000	%		7/9/29		5,149,404			1,771,755
Argentine Republic Government International Bond, Senior Notes, Step bond (0.500% to 7/9/23 then 0.750%)		0.500	%		7/9/30		59,973,058			20,241,507

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         53

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Argentina - (continued)
Argentine Republic Government International Bond, Senior Notes, Step bond (1.125% to 7/9/22 then 1.500%)		1.125	%		7/9/35		47,667,840		$	14,593,986
Argentine Republic Government International Bond, Senior Notes, Step bond (2.500% to 7/9/22 then 3.500%)		2.500	%		7/9/41		22,200,000			7,867,902
Provincia de Buenos Aires, Senior Notes, Step bond (3.900% to 9/1/22 then 5.250%)		3.900	%		9/1/37		20,490,394			8,805,952	(a)
Total Argentina										53,525,675
Brazil - 0.6%
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/31		319,997,000	BRL		61,428,254
Brazilian Government International Bond, Senior Notes		2.625	%		1/5/23		4,490,000			4,520,442
Brazilian Government International Bond, Senior Notes		4.625	%		1/13/28		18,440,000			18,521,597
Brazilian Government International Bond, Senior Notes		5.625	%		1/7/41		6,984,000			6,781,185
Brazilian Government International Bond, Senior Notes		5.000	%		1/27/45		54,640,000			48,766,746
Brazilian Government International Bond, Senior Notes		5.625	%		2/21/47		52,790,000			50,078,706
Brazilian Government International Bond, Senior Notes		4.750	%		1/14/50		36,400,000			30,593,836
Total Brazil										220,690,766
China - 1.4%
China Government Bond		3.290	%		5/23/29		2,849,530,000	CNY		462,946,325
China Government Bond, Senior Notes		3.380	%		11/21/24		115,500,000	CNH		18,544,011	(j)
China Government Bond, Senior Notes		3.390	%		5/21/25		59,000,000	CNH		9,495,444	(j)
China Government Bond, Senior Notes		3.310	%		11/30/25		273,500,000	CNH		43,931,802	(j)
Total China										534,917,582

See Notes to Schedule of Investments.

    54     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Colombia - 0.2%
Colombia Government International Bond, Senior Notes		3.250	%		4/22/32		22,800,000		$	19,092,036
Colombia Government International Bond, Senior Notes		4.125	%		2/22/42		23,030,000			18,049,993
Colombia Government International Bond, Senior Notes		5.625	%		2/26/44		19,220,000			17,470,403
Colombia Government International Bond, Senior Notes		5.200	%		5/15/49		10,000,000			8,560,200
Total Colombia										63,172,632
Indonesia - 1.6%
Indonesia Government International Bond, Senior Notes		3.750	%		4/25/22		24,750,000			24,787,253	(j)
Indonesia Government International Bond, Senior Notes		3.750	%		4/25/22		370,000			370,557	(a)
Indonesia Government International Bond, Senior Notes		5.375	%		10/17/23		7,620,000			7,997,519
Indonesia Government International Bond, Senior Notes		3.850	%		7/18/27		10,410,000			10,873,926	(a)
Indonesia Government International Bond, Senior Notes		3.500	%		1/11/28		3,010,000			3,091,980
Indonesia Government International Bond, Senior Notes		4.625	%		4/15/43		17,050,000			17,832,590	(j)
Indonesia Government International Bond, Senior Notes		5.125	%		1/15/45		26,340,000			29,187,412	(a)
Indonesia Government International Bond, Senior Notes		5.125	%		1/15/45		3,610,000			4,000,249	(j)
Indonesia Government International Bond, Senior Notes		5.250	%		1/8/47		23,930,000			27,355,019	(a)
Indonesia Government International Bond, Senior Notes		4.750	%		7/18/47		3,900,000			4,182,508	(a)
Indonesia Government International Bond, Senior Notes		4.350	%		1/11/48		28,860,000			29,894,658
Indonesia Government International Bond, Senior Notes		3.700	%		10/30/49		3,160,000			3,053,161
Indonesia Treasury Bond		7.000	%		5/15/27		1,675,317,000,000	IDR		122,403,997
Indonesia Treasury Bond		6.500	%		2/15/31		3,650,281,000,000	IDR		250,171,008
Indonesia Treasury Bond		6.375	%		4/15/32		279,555,000,000	IDR		18,948,038
Indonesia Treasury Bond		7.500	%		6/15/35		279,479,000,000	IDR		20,009,821
Total Indonesia										574,159,696

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         55

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Israel - 0.1%
Israel Government International Bond, Senior Notes		2.750	%		7/3/30		14,340,000		$	14,218,841
State of Israel, Senior Notes		3.375	%		1/15/50		8,320,000			7,904,000
State of Israel, Senior Notes		3.800	%		5/13/60		5,000,000			5,006,250	(j)
Total Israel										27,129,091
Kenya - 0.1%
Republic of Kenya Government International Bond, Senior Notes		6.875	%		6/24/24		7,780,000			7,831,426	(j)
Republic of Kenya Government International Bond, Senior Notes		7.250	%		2/28/28		6,600,000			6,380,946	(a)
Republic of Kenya Government International Bond, Senior Notes		6.300	%		1/23/34		31,980,000			27,582,750	(a)
Total Kenya										41,795,122
Kuwait - 0.1%
Kuwait International Government Bond, Senior Notes		3.500	%		3/20/27		29,270,000			30,516,609	(a)
Mexico - 2.5%
Mexican Bonos, Bonds		10.000	%		12/5/24		324,780,000	MXN		16,921,003
Mexican Bonos, Bonds		8.000	%		11/7/47		6,679,000,000	MXN		320,430,814
Mexican Bonos, Senior Notes		8.500	%		5/31/29		2,067,380,000	MXN		104,719,951
Mexican Bonos, Senior Notes		7.750	%		11/23/34		381,940,000	MXN		18,374,214
Mexican Bonos, Senior Notes		7.750	%		11/13/42		8,206,736,200	MXN		384,903,767
Mexico Government International Bond, Senior Notes		4.350	%		1/15/47		33,650,000			31,193,214
Mexico Government International Bond, Senior Notes		4.600	%		2/10/48		28,480,000			27,208,795
Mexico Government International Bond, Senior Notes		5.750	%		10/12/2110		9,190,000			9,349,584
Total Mexico										913,101,342
Nigeria - 0.1%
Nigeria Government International Bond, Senior Notes		6.500	%		11/28/27		8,130,000			7,753,581	(a)
Nigeria Government International Bond, Senior Notes		7.143	%		2/23/30		9,270,000			8,760,614	(a)
Total Nigeria										16,514,195

See Notes to Schedule of Investments.

    56     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Panama - 0.1%
Panama Government International Bond, Senior Notes		2.252	%		9/29/32		39,170,000		$	34,697,178
Panama Government International Bond, Senior Notes		4.500	%		4/1/56		8,130,000			7,976,180
Total Panama										42,673,358
Paraguay - 0.0%††
Paraguay Government International Bond, Senior Notes		3.849	%		6/28/33		11,240,000			10,874,700	(a)
Peru - 0.1%
Peruvian Government International Bond, Senior Notes		2.783	%		1/23/31		32,540,000			30,717,760
Peruvian Government International Bond, Senior Notes		6.550	%		3/14/37		2,330,000			2,953,403
Peruvian Government International Bond, Senior Notes		5.625	%		11/18/50		14,280,000			18,184,581
Total Peru										51,855,744
Poland - 0.1%
Republic of Poland Government International Bond, Senior Notes		4.000	%		1/22/24		39,880,000			40,975,942
Qatar - 0.3%
Qatar Government International Bond, Senior Notes		4.000	%		3/14/29		22,950,000			24,553,241	(a)
Qatar Government International Bond, Senior Notes		4.817	%		3/14/49		58,690,000			69,736,280	(a)
Qatar Government International Bond, Senior Notes		4.400	%		4/16/50		21,490,000			24,210,118	(a)
Total Qatar										118,499,639
Russia - 0.1%
Russian Federal Bond - OFZ		7.000	%		1/25/23		1,326,230,000	RUB		816,142	*(k)
Russian Federal Bond - OFZ		7.000	%		8/16/23		3,299,070,000	RUB		2,030,197	*(k)
Russian Federal Bond - OFZ		7.750	%		9/16/26		256,110,000	RUB		157,606	*(k)
Russian Federal Bond - OFZ		8.150	%		2/3/27		2,696,040,000	RUB		1,659,101	*(k)
Russian Federal Bond - OFZ		7.050	%		1/19/28		9,423,889,000	RUB		5,799,316	*(k)
Russian Federal Bond - OFZ		6.900	%		5/23/29		8,042,300,000	RUB		4,949,108	*(k)
Russian Federal Bond - OFZ		7.650	%		4/10/30		7,332,630,000	RUB		4,512,388	*(k)
Russian Federal Bond - OFZ		7.250	%		5/10/34		309,130,000	RUB		190,234	*(k)
Russian Federal Bond - OFZ		7.700	%		3/16/39		5,422,870,000	RUB		3,337,151	*(k)
Total Russia										23,451,243

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         57

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
United Arab Emirates - 0.3%
Abu Dhabi Government International Bond, Senior Notes		2.500	%		10/11/22		26,930,000	$	27,076,014	(a)
Abu Dhabi Government International Bond, Senior Notes		3.125	%		9/30/49		87,500,000		80,336,375	(a)
Abu Dhabi Government International Bond, Senior Notes		3.875	%		4/16/50		5,400,000		5,667,089	(a)
Abu Dhabi Government International Bond, Senior Notes		2.700	%		9/2/70		7,700,000		6,073,953	(a)
Total United Arab Emirates									119,153,431
Uruguay - 0.0%††
Uruguay Government International Bond, Senior Notes		7.875	%		1/15/33		1		2
TOTAL SOVEREIGN BONDS (Cost - $3,600,299,593)									2,883,006,769
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - 7.4%
Alternative Loan Trust, 2006-6CB 1A4		5.500	%		5/25/36		3,147,305		2,950,753
Alternative Loan Trust, 2006-18CB A6 (-4.000 x 1 mo. USD LIBOR + 28.600%)		26.774	%		7/25/36		5,132,291		6,447,165	(c)
Alternative Loan Trust, 2006-23CB 2A6, PAC (-4.000 x 1 mo. USD LIBOR + 28.400%)		26.574	%		8/25/36		2,435,992		2,321,169	(c)
Alternative Loan Trust, 2006-43CB 1A10		6.000	%		2/25/37		3,809,467		2,707,603
Alternative Loan Trust, 2006-43CB 3A3, IO (-1.000 x 1 mo. USD LIBOR + 6.630%)		6.173	%		2/25/37		12,170,078		2,208,385	(c)
Alternative Loan Trust, 2006-OA9 2A1B (1 mo. USD LIBOR + 0.200%)		0.649	%		7/20/46		289,446		223,101	(c)
AREIT Trust, 2021-CRE5 A (1 mo. USD LIBOR + 1.080%)		1.477	%		7/17/26		17,080,000		17,000,107	(a)(c)
Banc of America Funding Trust, 2015-R2 3A2 (1 mo. USD LIBOR + 0.260%)		0.717	%		4/29/37		14,987,935		14,706,256	(a)(c)
BANK, 2020-BN29 C		3.028	%		11/15/53		2,500,000		2,278,887	(c)
BBCCRE Trust, 2015-GTP E		4.563	%		8/10/33		33,260,000		31,288,430	(a)(c)
BBCMS Trust, 2018-CBM D (1 mo. USD LIBOR + 2.391%)		2.788	%		7/15/37		16,390,000		16,019,037	(a)(c)
BCAP LLC Trust, 2010-RR9 6A2		6.000	%		10/26/35		9,256,368		8,806,500	(a)(c)
Bear Stearns Asset Backed Securities I Trust, 2004-AC6 A1		5.750	%		11/25/34		1,990,793		1,889,469
Bear Stearns Asset Backed Securities I Trust, 2006-AC4 A2 (-4.333 x 1 mo. USD LIBOR + 36.250%)		33.583	%		7/25/36		1,689,471		1,969,249	(c)

See Notes to Schedule of Investments.

    58     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Bear Stearns Mortgage Funding Trust, 2007-AR2 A1 (1 mo. USD LIBOR + 0.170%)		0.627	%		3/25/37		9,435,643	$	8,890,914	(c)
Benchmark Mortgage Trust, 2020-IG1 AS		2.909	%		9/15/43		28,980,000		27,663,331	(c)
BHMS Mortgage Trust, 2018-MZB (1 mo. USD LIBOR + 6.637%)		7.033	%		7/15/20		93,060,000		89,573,042	(a)(c)
BIG Commercial Mortgage Trust, 2022-BIG F (1 mo. Term SOFR + 5.436%)		5.737	%		2/15/39		19,160,000		19,151,043	(a)(c)
BX Commercial Mortgage Trust, 2019-XL A (1 mo. USD LIBOR + 0.920%)		1.317	%		10/15/36		17,899,399		17,833,383	(a)(c)
BX Commercial Mortgage Trust, 2020-FOX B (1 mo. USD LIBOR + 1.350%)		1.747	%		11/15/32		4,253,679		4,219,391	(a)(c)
BX Commercial Mortgage Trust, 2020-VIV3 B		3.544	%		3/9/44		15,530,000		14,785,001	(a)(c)
BX Commercial Mortgage Trust, 2020-VIVA D		3.549	%		3/11/44		4,190,000		3,774,044	(a)(c)
BX Commercial Mortgage Trust, 2021-XL2 J (1 mo. USD LIBOR + 3.890%)		4.287	%		10/15/38		9,759,639		9,413,879	(a)(c)
BX Commercial Mortgage Trust, 2022-LP2 G (1 mo. Term SOFR + 4.106%)		4.411	%		2/15/39		25,260,000		24,723,925	(a)(c)
Chevy Chase Funding LLC Mortgage-Backed Certificates Series, 2005-4A A1 (1 mo. USD LIBOR + 0.200%)		0.657	%		10/25/36		257,005		242,996	(a)(c)
CHT Mortgage Trust, 2017-CSMO A (1 mo. USD LIBOR + 0.930%)		1.327	%		11/15/36		17,095,000		17,047,633	(a)(c)
Citigroup Commercial Mortgage Trust, 2014-GC25 AS		4.017	%		10/10/47		2,800,000		2,819,389
Citigroup Commercial Mortgage Trust, 2017-P7 B		4.137	%		4/14/50		9,194,000		9,012,654	(c)
Citigroup Mortgage Loan Trust Inc., 2005-5 1A5		2.462	%		8/25/35		42,949		39,982	(c)
Cold Storage Trust, 2020-ICE5 A (1 mo. USD LIBOR + 0.900%)		1.297	%		11/15/37		112,444,286		111,245,596	(a)(c)
Commercial Mortgage Pass-Through Certificates, 2014-CR21 A3		3.528	%		12/10/47		539,049		536,261

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         59

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Commercial Mortgage Pass-Through Certificates, 2015-DC1 C		4.332	%		2/10/48		3,070,000	$	2,943,186	(c)
Commercial Mortgage Trust, 2013-CR12 AM		4.300	%		10/10/46		1,723,000		1,735,011
Commercial Mortgage Trust, 2013-CR12 B		4.762	%		10/10/46		1,470,000		1,471,014	(c)
Commercial Mortgage Trust, 2013-CR12 C		5.063	%		10/10/46		730,000		706,195	(c)
Commercial Mortgage Trust, 2014-CR19 B		4.703	%		8/10/47		8,410,000		8,490,970	(c)
Commercial Mortgage Trust, 2014-CR21 C		4.421	%		12/10/47		11,948,000		11,341,617	(c)
Commercial Mortgage Trust, 2015-DC1 B		4.035	%		2/10/48		7,160,000		7,088,757	(c)
Commercial Mortgage Trust, 2020-CX A		2.173	%		11/10/46		15,770,000		14,100,488	(a)
Commercial Mortgage Trust, 2020-CX B		2.446	%		11/10/46		5,000,000		4,441,422	(a)
Credit Suisse Mortgage Capital Trust, 2021-4SZN A (1 mo. Term SOFR + 3.967%)		4.268	%		11/15/23		50,000,000		48,753,110	(a)(c)
CSMC Trust, 2022-CNTR A (1 mo. Term SOFR + 3.944%)		4.246	%		1/15/25		33,000,000		32,137,606	(a)(c)
CSMC Trust, 2014-USA A2		3.953	%		9/15/37		12,520,000		12,323,997	(a)
CSMC Trust, 2014-USA E		4.373	%		9/15/37		13,470,000		11,463,643	(a)
CSMC Trust, 2015-2R 7A1		2.720	%		8/27/36		5,664,328		5,741,487	(a)(c)
CSMC Trust, 2015-4R 3A3 (1 mo. USD LIBOR + 0.310%)		0.807	%		10/27/36		39,524,574		19,272,890	(a)(c)
CSMC Trust, 2017-CHOP G (1 mo. USD LIBOR + 5.350%)		5.747	%		7/15/32		23,400,000		20,843,550	(a)(c)
CSMC Trust, 2017-TIME A		3.646	%		11/13/39		21,200,000		19,934,284	(a)
CSMC Trust, 2018-J1 A2		3.500	%		2/25/48		39,781,219		39,151,720	(a)(c)
CSMC Trust, 2019-RIO A (1 mo. USD LIBOR + 3.024%, 4.024% floor)		4.024	%		12/15/22		148,347,500		148,145,124	(a)(c)
CSMC Trust, 2020-522F A (1 mo. USD LIBOR + 3.739%, 4.139% floor)		4.139	%		9/16/25		47,520,000		47,421,082	(a)(c)
CSMC Trust, 2020-FACT D (1 mo. USD LIBOR + 3.710%)		4.107	%		10/15/37		4,450,000		4,450,857	(a)(c)
CSMC Trust, 2020-FACT F (1 mo. USD LIBOR + 6.157%)		6.554	%		10/15/37		7,990,000		8,070,784	(a)(c)
CSMC Trust, 2020-RPL3 A1		2.691	%		3/25/60		22,427,007		22,035,707	(a)(c)

See Notes to Schedule of Investments.

    60     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
CSMC Trust, 2020-RPL6 A1		2.688	%		3/25/59		31,536,739	$	30,931,461	(a)(c)
CSMC Trust, 2021-2R 1A1 (1 mo. USD LIBOR + 1.750%)		1.991	%		7/25/47		31,307,693		31,814,289	(a)(c)
CSMC Trust, 2021-RPL1 A1		1.668	%		9/27/60		15,302,490		14,758,895	(a)(c)
CSMC Trust, 2021-RPL2 A1		2.000	%		1/25/60		14,895,388		14,145,688	(a)(c)
DBCG Mortgage Trust, 2017-BBG A (1 mo. USD LIBOR + 0.700%)		1.097	%		6/15/34		20,260,000		20,061,723	(a)(c)
Extended Stay America Trust, 2021-ESH E (1 mo. USD LIBOR + 2.850%)		3.247	%		7/15/38		6,957,182		6,860,096	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR02 BX, IO		1.666	%		8/27/28		15,503,008		1,394,360	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR07 AX, IO		2.468	%		9/27/28		34,072,000		4,602,804	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily PC REMIC Trust, 2019 RR01 X, IO		1.534	%		6/25/28		22,500,000		1,823,124	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K095 XAM, IO		1.239	%		6/25/29		6,300,000		501,495	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K101 X1, IO		0.835	%		10/25/29		20,599,849		1,098,781	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K104 XAM, IO		1.385	%		1/25/30		15,496,000		1,464,355	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K110 X1, IO		1.697	%		4/25/30		36,616,564		3,998,719	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K116 X1, IO		1.426	%		7/25/30		9,355,971		886,521	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         61

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K123 X1, IO		0.774	%		12/25/30		27,903,027	$	1,524,225	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K736 X1, IO		1.308	%		7/25/26		20,527,525		905,837	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K737 X1, IO		0.636	%		10/25/26		43,435,472		1,033,504	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K741 X1, IO		0.572	%		12/25/27		43,153,540		1,225,901	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K742 X1, IO		0.779	%		3/25/28		20,489,591		712,241	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K743 X1, IO		0.926	%		5/25/28		76,000,000		3,769,304	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K137 X1, IO		0.101	%		11/25/31		15,053,027		248,655	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K1517 X1, IO		1.330	%		7/25/35		18,602,356		2,478,290	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K1520 X1, IO		0.472	%		2/25/36		12,985,213		626,208	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, KC05 X1, IO		1.204	%		6/25/27		12,528,176		485,712	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Reference REMIC, R007 ZA		6.000	%		5/15/36		3,985,066		4,362,584

See Notes to Schedule of Investments.

    62     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 2957 ZA, PAC		5.000	%		3/15/35		6,279,677	$	6,691,703
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3242 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.290%)		5.893	%		11/15/36		741,280		101,595	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3281 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.430%)		6.033	%		2/15/37		4,104,707		599,682	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3368 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.030%)		5.633	%		9/15/37		1,169,102		157,599	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3422 AI, IO		0.250	%		1/15/38		442,623		2,776
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3621 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.230%)		5.833	%		1/15/40		1,538,366		220,743	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3639 EY		5.000	%		2/15/30		2,395,987		2,498,274
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3768 MB, PAC-1		4.000	%		12/15/39		1,305,729		1,318,736
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3947 SG, IO (-1.000 x 1 mo. USD LIBOR + 5.950%)		5.553	%		10/15/41		2,859,308		387,351	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3973 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.490%)		6.093	%		12/15/41		2,804,792		459,008	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4054 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		5.653	%		8/15/39		2,034,716		257,059	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4099 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		5.603	%		8/15/42		713,922		112,207	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4119 IN, IO		3.500	%		10/15/32		2,100,865		213,880
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4146 DI, IO		3.000	%		12/15/31		1,504,656		86,806
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4203 PS, IO, PAC (-1.000 x 1 mo. USD LIBOR + 6.250%)		5.853	%		9/15/42		1,310,839		148,989	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4239 IO, IO		3.500	%		6/15/27		1,323,132		58,812

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         63

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4298 PI, IO, PAC		4.000	%		4/15/43		366,298	$	15,713
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4415 IO, IO		1.570	%		4/15/41		3,015,814		125,851	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CB		3.000	%		5/15/48		10,485,506		10,274,541
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CD		3.000	%		6/15/48		6,917,738		6,778,397
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4813 CJ		3.000	%		8/15/48		5,269,418		5,151,973
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 IK, IO		2.500	%		9/25/50		9,052,158		1,364,777
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 JI, IO		2.500	%		9/25/50		24,626,201		4,156,725
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5013 IN, IO		2.500	%		9/25/50		10,376,547		1,760,099
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5018 MI, IO		2.000	%		10/25/50		18,847,082		2,640,665
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5040 IB, IO		2.500	%		11/25/50		6,101,621		892,339
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5059 IB, IO		2.500	%		1/25/51		29,925,100		4,967,884
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5069 MI, IO		2.500	%		2/25/51		7,398,624		1,133,300
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5140 NI, IO		2.500	%		5/25/49		36,197,348		5,133,330
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5148 BI, IO		2.500	%		1/25/49		6,732,474		1,008,067
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5148 CI, IO		2.000	%		6/25/49		3,316,569		376,664
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA4 M2 (1 mo. USD LIBOR + 3.750%)		4.207	%		8/25/50		2,349,630		2,352,913	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA5 B1 (30 Day Average SOFR + 4.800%)		4.899	%		10/25/50		18,832,000		19,171,884	(a)(c)

See Notes to Schedule of Investments.

    64     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA5 M2 (30 Day Average SOFR + 2.800%)		2.899	%		10/25/50		25,986,315	$	26,048,885	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA6 M2 (30 Day Average SOFR + 2.000%)		2.099	%		12/25/50		38,540,000		38,088,253	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA1 M2 (30 Day Average SOFR + 1.800%)		1.899	%		1/25/51		34,330,000		33,664,513	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA5 B1 (30 Day Average SOFR + 3.050%)		3.149	%		1/25/34		10,440,000		9,764,337	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer Trust, 2017-2 M1		4.000	%		8/25/56		20,000,000		19,933,500	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 283 IO, IO		3.500	%		10/15/27		339,656		18,624
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 328 S4, IO		1.679	%		2/15/38		639,627		29,091	(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 334 S7, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.703	%		8/15/44		4,840,317		775,268	(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 353 S1, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		5.603	%		12/15/46		12,399,352		1,808,062	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2021-DNA2 B1 (30 Day Average SOFR + 3.400%)		3.499	%		8/25/33		13,640,000		12,752,987	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2021-DNA2 M2 (30 Day Average SOFR + 2.300%)		2.399	%		8/25/33		38,980,000		38,461,472	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2022-DNA2 M1B (30 Day Average SOFR + 2.400%)		2.499	%		2/25/42		32,190,000		31,367,468	(a)(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         65

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal National Mortgage Association (FNMA) - CAS, 2014-C03 1M1 (1 mo. USD LIBOR + 3.000%)		3.457	%		7/25/24		26,836,232	$	26,991,221	(c)
Federal National Mortgage Association (FNMA) - CAS, 2015-C03 1M2 (1 mo. USD LIBOR + 5.000%)		5.457	%		7/25/25		7,061,713		7,189,950	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2017-C05 1M2 (1 mo. USD LIBOR + 2.200%)		2.657	%		1/25/30		15,218,361		15,307,393	(c)
Federal National Mortgage Association (FNMA) - CAS, 2017-C07 1M2 (1 mo. USD LIBOR + 2.400%)		2.857	%		5/25/30		16,048,862		16,250,857	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C03 1B1 (1 mo. USD LIBOR + 3.750%)		4.207	%		10/25/30		8,520,000		8,438,410	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C03 1M2 (1 mo. USD LIBOR + 2.150%)		2.607	%		10/25/30		4,131,621		4,151,070	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C05 1B1 (1 mo. USD LIBOR + 4.250%)		4.707	%		1/25/31		22,076,000		22,192,767	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-R07 1B1 (1 mo. USD LIBOR + 4.350%)		4.807	%		4/25/31		8,100,000		8,200,589	(a)(c)
Federal National Mortgage Association (FNMA) ACES, 2013-M6 1AC		3.354	%		2/25/43		1,316,225		1,334,776	(c)
Federal National Mortgage Association (FNMA) ACES, 2015-M4 X2, IO		2.842	%		7/25/22		1,008,903		10	(c)
Federal National Mortgage Association (FNMA) ACES, 2017-M8 A2		3.061	%		5/25/27		3,692,140		3,743,110	(c)
Federal National Mortgage Association (FNMA) ACES, 2018-M9 APT2		3.121	%		4/25/28		2,437,951		2,453,894	(c)

See Notes to Schedule of Investments.

    66     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal National Mortgage Association (FNMA) ACES, 2019-M4 A2		3.610	%		2/25/31		5,140,000	$	5,441,836
Federal National Mortgage Association (FNMA) ACES, 2019-M5 A2		3.273	%		2/25/29		9,980,000		10,234,887
Federal National Mortgage Association (FNMA) ACES, 2019-M6 A2		3.450	%		1/1/29		9,809,681		10,107,386
Federal National Mortgage Association (FNMA) ACES, 2019-M13 X1, IO		0.835	%		6/25/34		15,499,131		820,253	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M14 X1, IO		0.588	%		6/25/29		54,930,196		1,827,473	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M19 A2		2.560	%		9/25/29		6,094,659		6,015,372
Federal National Mortgage Association (FNMA) ACES, 2019-M23 3A3		2.720	%		10/25/31		6,883,832		6,879,776	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M28 AV		2.232	%		2/25/27		11,590,300		11,349,255
Federal National Mortgage Association (FNMA) ACES, 2020-M6 A		2.500	%		10/25/37		3,551,249		3,480,624
Federal National Mortgage Association (FNMA) ACES, 2020-M36 X1, IO		1.460	%		9/25/34		44,399,438		4,097,233	(c)
Federal National Mortgage Association (FNMA) REMIC, 2005-88 IP, IO		1.517	%		10/25/35		1,426,983		61,966	(c)
Federal National Mortgage Association (FNMA) REMIC, 2006-28 IP, IO		1.765	%		3/25/36		949,212		39,032	(c)
Federal National Mortgage Association (FNMA) REMIC, 2006-59 IP, IO		2.387	%		7/25/36		2,086,186		144,898	(c)
Federal National Mortgage Association (FNMA) REMIC, 2006-118 IP1, IO		0.230	%		12/25/36		2,299,754		166,252	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         67

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2006-118 IP2, IO		0.230	%		12/25/36		2,521,672	$	119,017	(c)
Federal National Mortgage Association (FNMA) REMIC, 2010-27 AS, IO (-1.000 x 1 mo. USD LIBOR + 6.480%)		6.023	%		4/25/40		1,172,123		171,939	(c)
Federal National Mortgage Association (FNMA) REMIC, 2010-123 PM, PAC		4.000	%		7/25/40		7,129,507		7,298,662
Federal National Mortgage Association (FNMA) REMIC, 2011-59 NZ		5.500	%		7/25/41		590,254		638,807
Federal National Mortgage Association (FNMA) REMIC, 2011-99 KS, IO (-1.000 x 1 mo. USD LIBOR + 6.700%)		6.243	%		10/25/26		388,631		25,631	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-28 B		6.500	%		6/25/39		354,107		374,681
Federal National Mortgage Association (FNMA) REMIC, 2012-035 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.500%)		6.043	%		4/25/42		1,403,938		226,488	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-046 BA		6.000	%		5/25/42		2,256,238		2,478,550
Federal National Mortgage Association (FNMA) REMIC, 2012-51 B		7.000	%		5/25/42		3,530,353		4,047,260
Federal National Mortgage Association (FNMA) REMIC, 2012-070 YS, IO (-1.000 x 1 mo. USD LIBOR + 6.650%)		6.193	%		2/25/41		26,769		135	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-074 OA, PO		0.000	%		3/25/42		225,249		206,814
Federal National Mortgage Association (FNMA) REMIC, 2012-074 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.650%)		6.193	%		3/25/42		2,553,433		281,648	(c)

See Notes to Schedule of Investments.

    68     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2012-75 AO, PO		0.000	%		3/25/42		134,780	$	123,671
Federal National Mortgage Association (FNMA) REMIC, 2012-75 NS, IO (-1.000 x 1 mo. USD LIBOR + 6.600%)		6.143	%		7/25/42		230,175		33,066	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-93 UI, IO		3.000	%		9/25/27		583,608		28,578
Federal National Mortgage Association (FNMA) REMIC, 2012-101 BI, IO		4.000	%		9/25/27		642,176		21,659
Federal National Mortgage Association (FNMA) REMIC, 2012-133 CS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.693	%		12/25/42		1,841,022		299,565	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-134 MS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.693	%		12/25/42		1,338,689		203,645	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-134 SK, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.693	%		12/25/42		4,427,067		718,339	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-9 BC		6.500	%		7/25/42		3,214,198		3,599,499
Federal National Mortgage Association (FNMA) REMIC, 2013-9 CB		5.500	%		4/25/42		8,723,841		9,365,887
Federal National Mortgage Association (FNMA) REMIC, 2013-9 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.693	%		3/25/42		2,777,730		283,603	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-14 IG, IO		4.000	%		3/25/43		2,429,424		341,644
Federal National Mortgage Association (FNMA) REMIC, 2013-026 HI, IO		3.000	%		4/25/32		716,100		14,919

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         69

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2013-29 QI, IO		4.000	%		4/25/43		2,308,463	$	333,834
Federal National Mortgage Association (FNMA) REMIC, 2013-54 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.693	%		6/25/43		3,543,235		591,151	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-124 SB, IO (-1.000 x 1 mo. USD LIBOR + 5.950%)		5.493	%		12/25/43		7,644,315		1,113,965	(c)
Federal National Mortgage Association (FNMA) REMIC, 2014-47 AI, IO		1.611	%		8/25/44		3,121,133		146,999	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-55 IO, IO		1.402	%		8/25/55		6,810,184		243,724	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-56 AS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.693	%		8/25/45		1,955,469		338,266	(c)
Federal National Mortgage Association (FNMA) REMIC, 2016-23 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		5.543	%		11/25/45		11,314,928		1,809,007	(c)
Federal National Mortgage Association (FNMA) REMIC, 2016-61 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.643	%		9/25/46		5,269,402		603,095	(c)
Federal National Mortgage Association (FNMA) REMIC, 2017-76 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.643	%		10/25/57		20,338,166		3,761,481	(c)
Federal National Mortgage Association (FNMA) REMIC, 2017-85 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.200%)		5.743	%		11/25/47		7,175,819		1,085,448	(c)
Federal National Mortgage Association (FNMA) REMIC, 2020-47 GZ		2.000	%		7/25/50		13,359,105		10,719,739

See Notes to Schedule of Investments.

    70     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2020-56 DI, IO		2.500	%		8/25/50		19,314,945	$	3,244,967
Federal National Mortgage Association (FNMA) REMIC, 2020-57 NI, IO		2.500	%		8/25/50		13,895,605		2,265,984
Federal National Mortgage Association (FNMA) REMIC, 2020-74 EI, IO		2.500	%		10/25/50		8,461,858		1,382,924
Federal National Mortgage Association (FNMA) REMIC, 2020-89 DI, IO		2.500	%		12/25/50		54,278,958		7,851,929
Federal National Mortgage Association (FNMA) REMIC, 2020-97 AI, IO		2.000	%		1/25/51		20,838,880		2,651,764
Federal National Mortgage Association (FNMA) REMIC, 2021-1 IG, IO		2.500	%		2/25/51		6,963,589		1,146,701
Federal National Mortgage Association (FNMA) REMIC, 2021-3 IB, IO		2.500	%		2/25/51		28,515,050		5,044,401
Federal National Mortgage Association (FNMA) REMIC, 2021-3 QI, IO		2.500	%		2/25/51		43,187,189		6,251,354
Federal National Mortgage Association (FNMA) STRIPS, 384 14, IO		5.500	%		1/25/40		335,052		62,781
Federal National Mortgage Association (FNMA) STRIPS, 390 C3, IO		6.000	%		7/25/38		641,972		145,156
Federal National Mortgage Association (FNMA) STRIPS, 407 22, IO		5.000	%		1/25/39		283,427		46,186
Federal National Mortgage Association (FNMA) STRIPS, 407 23, IO		5.000	%		1/25/39		154,854		28,029	(c)
Federal National Mortgage Association (FNMA) STRIPS, 407 27, IO		5.500	%		1/25/39		121,617		23,464	(c)
Federal National Mortgage Association (FNMA) STRIPS, 407 34, IO		5.000	%		1/25/38		195,255		31,914

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         71

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Federal National Mortgage Association (FNMA) STRIPS, 407 41, IO		6.000	%		1/25/38		822,563	$	150,220
Federal National Mortgage Association (FNMA) STRIPS, 409 C1, IO		3.000	%		11/25/26		1,573,424		68,608
Federal National Mortgage Association (FNMA) STRIPS, 409 C2, IO		3.000	%		4/25/27		85,318		4,236
Federal National Mortgage Association (FNMA) STRIPS, 409 C13, IO		3.500	%		11/25/41		2,000,374		208,084
Federal National Mortgage Association (FNMA) STRIPS, 409 C18, IO		4.000	%		4/25/42		1,472,849		239,199
Federal National Mortgage Association (FNMA) STRIPS, 409 C22, IO		4.500	%		11/25/39		698,122		113,175
First Horizon Alternative Mortgage Securities Trust, 2007-FA3 A1 (1 mo. USD LIBOR + 0.330%)		0.787	%		6/25/37		6,788,570		2,038,226	(c)
Flagstar Mortgage Trust, 2018-2 A4		3.500	%		4/25/48		1,440,306		1,440,845	(a)(c)
Freddie Mac Multifamily ML Certificates, 2020-ML07 XUS, IO		1.975	%		10/25/36		33,889,238		5,951,289	(a)(c)
FREMF Mortgage Trust, 2012-K20 X2A, IO		0.200	%		5/25/45		20,415,073		204	(a)
FREMF Mortgage Trust, 2019-K103 X2A, IO		0.100	%		12/25/51		687,432,201		4,163,021	(a)
Government National Mortgage Association (GNMA), 2006-16 GS, IO (-1.000 x 1 mo. USD LIBOR + 6.990%)		6.541	%		4/20/36		385,885		48,798	(c)
Government National Mortgage Association (GNMA), 2007-51 SG, IO (-1.000 x 1 mo. USD LIBOR + 6.580%)		6.131	%		8/20/37		1,505,713		136,927	(c)
Government National Mortgage Association (GNMA), 2010-42 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.480%)		6.031	%		4/20/40		226,028		34,552	(c)
Government National Mortgage Association (GNMA), 2010-42 PC, PAC-1		5.000	%		7/20/39		121,101		121,109

See Notes to Schedule of Investments.

    72     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Government National Mortgage Association (GNMA), 2010-85 HS, IO, PAC (-1.000 x 1 mo. USD LIBOR + 6.650%)		6.201	%		1/20/40		51,460	$	1,894	(c)
Government National Mortgage Association (GNMA), 2010-86 PB, PAC-1		4.500	%		10/20/39		736,783		739,058
Government National Mortgage Association (GNMA), 2010-116 MH		5.000	%		7/20/40		21,819,359		23,623,294
Government National Mortgage Association (GNMA), 2010-118 IO, IO		0.000	%		4/16/53		814,592		8	(c)
Government National Mortgage Association (GNMA), 2010-H10 FC (1 mo. USD LIBOR + 1.000%)		1.231	%		5/20/60		335,108		337,106	(c)
Government National Mortgage Association (GNMA), 2010-H26 LF (1 mo. USD LIBOR + 0.350%)		0.456	%		8/20/58		877,787		873,791	(c)
Government National Mortgage Association (GNMA), 2010-H27 FA (1 mo. USD LIBOR + 0.380%)		0.486	%		12/20/60		237,700		236,585	(c)
Government National Mortgage Association (GNMA), 2010-H28 FE (1 mo. USD LIBOR + 0.400%)		0.506	%		12/20/60		3,948,617		3,932,261	(c)
Government National Mortgage Association (GNMA), 2011-140 AI, IO		4.000	%		10/16/26		82,723		3,948
Government National Mortgage Association (GNMA), 2011-H06 FA (1 mo. USD LIBOR + 0.450%)		0.556	%		2/20/61		1,291,385		1,287,194	(c)
Government National Mortgage Association (GNMA), 2011-H08 FG (1 mo. USD LIBOR + 0.480%)		0.586	%		3/20/61		3,493,021		3,483,698	(c)
Government National Mortgage Association (GNMA), 2011-H09 AF (1 mo. USD LIBOR + 0.500%)		0.606	%		3/20/61		3,131,902		3,124,860	(c)
Government National Mortgage Association (GNMA), 2012-34 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		5.601	%		3/20/42		1,016,671		163,647	(c)
Government National Mortgage Association (GNMA), 2012-81 AI, IO		3.500	%		4/20/27		460,886		16,433

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         73

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Government National Mortgage Association (GNMA), 2012-98 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.669	%		8/16/42		1,701,054	$	273,686	(c)
Government National Mortgage Association (GNMA), 2012-152 IO, IO		0.605	%		1/16/54		26,837,654		504,886	(c)
Government National Mortgage Association (GNMA), 2013-50 IO, IO		0.057	%		10/16/48		49,620,583		131,440	(c)
Government National Mortgage Association (GNMA), 2013-72 IO, IO		0.385	%		11/16/47		16,225,004		199,374	(c)
Government National Mortgage Association (GNMA), 2013-107 AD		2.764	%		11/16/47		3,988,716		3,888,422	(c)
Government National Mortgage Association (GNMA), 2013-150 IA, IO		1.120	%		11/20/42		1,126,379		26,268	(c)
Government National Mortgage Association (GNMA), 2014-17 AM		3.356	%		6/16/48		345,893		348,730	(c)
Government National Mortgage Association (GNMA), 2014-160 EI, IO		4.000	%		7/16/26		1,709,395		68,344
Government National Mortgage Association (GNMA), 2014-176 IA, IO		4.000	%		11/20/44		371,350		61,815
Government National Mortgage Association (GNMA), 2016-21 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		5.701	%		2/20/46		14,941,075		2,614,972	(c)
Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC		4.500	%		11/16/45		2,706,745		518,687
Government National Mortgage Association (GNMA), 2016-135 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		5.669	%		10/16/46		5,271,718		1,104,074	(c)
Government National Mortgage Association (GNMA), 2017-8 IO, IO		0.423	%		8/16/58		13,928,166		438,278	(c)
Government National Mortgage Association (GNMA), 2017-28 IO, IO		0.654	%		2/16/57		18,469,359		771,605	(c)
Government National Mortgage Association (GNMA), 2017-41 IO, IO		0.631	%		7/16/58		12,370,199		439,493	(c)
Government National Mortgage Association (GNMA), 2017-111 IO, IO		0.536	%		2/16/59		5,079,477		201,385	(c)
Government National Mortgage Association (GNMA), 2017-145 IO, IO		0.518	%		4/16/57		35,025,405		1,275,121	(c)
Government National Mortgage Association (GNMA), 2017-157 IO		0.598	%		12/16/59		4,421,533		182,426	(c)

See Notes to Schedule of Investments.

    74     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Government National Mortgage Association (GNMA), 2017-H15 KI, IO		2.197	%		7/20/67		23,162,675	$	1,850,929	(c)
Government National Mortgage Association (GNMA), 2017-H18 BI, IO		1.614	%		9/20/67		18,941,695		1,161,069	(c)
Government National Mortgage Association (GNMA), 2017-H20 IB, IO		2.038	%		10/20/67		9,818,365		703,506	(c)
Government National Mortgage Association (GNMA), 2017-H22 IC, IO		2.368	%		11/20/67		3,001,849		180,815	(c)
Government National Mortgage Association (GNMA), 2018-37 QA		2.750	%		3/20/48		3,767,525		3,739,335
Government National Mortgage Association (GNMA), 2018-H06 PF (1 mo. USD LIBOR + 0.300%)		0.406	%		2/20/68		11,160,759		11,095,461	(c)
Government National Mortgage Association (GNMA), 2018-H07 FD (1 mo. USD LIBOR + 0.300%)		0.406	%		5/20/68		20,484,736		20,361,963	(c)
Government National Mortgage Association (GNMA), 2018-H08 KF (1 mo. USD LIBOR + 0.300%)		0.406	%		5/20/68		9,878,406		9,808,564	(c)
Government National Mortgage Association (GNMA), 2018-H13 FC (1 mo. USD LIBOR + 0.300%)		0.406	%		7/20/68		6,666,472		6,618,237	(c)
Government National Mortgage Association (GNMA), 2018-H17 FG (12 mo. USD LIBOR + 0.250%)		0.478	%		10/20/68		4,670,465		4,591,887	(c)
Government National Mortgage Association (GNMA), 2019-90 AB		3.000	%		7/20/49		5,241,451		5,185,133
Government National Mortgage Association (GNMA), 2020-47 MI, IO, PAC		3.500	%		4/20/50		19,256,681		2,905,286
Government National Mortgage Association (GNMA), 2020-47 NI, IO, PAC		3.500	%		4/20/50		6,482,087		958,398
Government National Mortgage Association (GNMA), 2020-109 AI, IO		0.842	%		5/16/60		24,309,124		1,627,139	(c)
Government National Mortgage Association (GNMA), 2020-123 IL, IO		2.500	%		8/20/50		7,831,783		1,106,689
Government National Mortgage Association (GNMA), 2020-123 NI, IO		2.500	%		8/20/50		22,769,625		3,307,361
Government National Mortgage Association (GNMA), 2020-127 IN, IO		2.500	%		8/20/50		10,867,605		1,566,320

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         75

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Government National Mortgage Association (GNMA), 2020-129 IE, IO		2.500	%		9/20/50		10,376,491	$	1,498,134
Government National Mortgage Association (GNMA), 2020-160 IH, IO		2.500	%		10/20/50		7,106,826		1,061,753
Government National Mortgage Association (GNMA), 2020-160 VI, IO		2.500	%		10/20/50		9,890,452		1,445,382
Government National Mortgage Association (GNMA), 2020-160 YI, IO		2.500	%		10/20/50		32,348,233		4,227,481
Government National Mortgage Association (GNMA), 2020-181 WI, IO		2.000	%		12/20/50		71,599,331		7,511,779
Government National Mortgage Association (GNMA), 2020-184, IO, IO		0.913	%		11/16/60		7,787,131		547,571	(c)
Government National Mortgage Association (GNMA), 2020-H9 FL (1 mo. USD LIBOR + 1.150%)		1.599	%		5/20/70		21,312,632		21,922,881	(c)
Government National Mortgage Association (GNMA), 2020-H9 NF (1 mo. USD LIBOR + 1.250%)		1.699	%		4/20/70		5,490,284		5,597,821	(c)
Government National Mortgage Association (GNMA), 2020-H12 F (1 mo. USD LIBOR + 0.500%)		0.949	%		7/20/70		2,064,466		2,058,023	(c)
Government National Mortgage Association (GNMA), 2020-H13 FA (1 mo. USD LIBOR + 0.450%)		0.899	%		7/20/70		6,642,138		6,615,080	(c)
Government National Mortgage Association (GNMA), 2020-H13 FC (1 mo. USD LIBOR + 0.450%)		0.899	%		7/20/70		2,763,697		2,753,256	(c)
Government National Mortgage Association (GNMA), 2020-H13 FM (1 mo. USD LIBOR + 0.400%)		0.849	%		8/20/70		70,958		70,758	(c)
Government National Mortgage Association (GNMA), 2021-29 TI, IO		2.500	%		2/20/51		485,582		91,783
Government National Mortgage Association (GNMA), 2021-37, IO, IO		0.805	%		1/16/61		22,344,078		1,455,093	(c)
Government National Mortgage Association (GNMA), 2021-60 IO, IO		0.823	%		5/16/63		34,113,289		2,398,464	(c)
Government National Mortgage Association (GNMA), 2021-68 IO, IO		0.897	%		10/16/62		31,380,720		2,298,663	(c)

See Notes to Schedule of Investments.

    76     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Government National Mortgage Association (GNMA), 2021-110 IO, IO		0.879	%		11/16/63		9,816,180	$	763,753	(c)
Government National Mortgage Association (GNMA), 2021-133, IO		0.882	%		7/16/63		21,834,126		1,650,680	(c)
Government National Mortgage Association (GNMA), 2022-3 IO, IO		0.641	%		2/16/61		9,271,999		590,619	(c)
Government National Mortgage Association (GNMA), 2022-55 IO, IO		0.567	%		1/16/63		28,996,903		1,961,039	(c)
Government National Mortgage Association (GNMA), 2022-59 IO, IO		0.571	%		2/16/62		66,500,000		4,342,696	(c)
Great Wolf Trust, 2019-WOLF B (1 mo. USD LIBOR + 1.334%)		1.731	%		12/15/36		15,590,000		15,355,835	(a)(c)
GreenPoint Mortgage Funding Trust, 2005-AR4 1A2A (1 mo. USD LIBOR + 0.640%)		1.097	%		10/25/45		1,664,798		1,678,449	(c)
GreenPoint Mortgage Funding Trust, 2005-AR5 2A1 (1 mo. USD LIBOR + 0.560%)		1.017	%		11/25/45		11,778,163		7,591,414	(c)
GreenPoint Mortgage Funding Trust, 2006-AR3 3A1 (1 mo. USD LIBOR + 0.460%)		0.917	%		4/25/36		125,650		134,772	(c)
GS Mortgage Securities Corp. II, 2018-SRP5 A (1 mo. USD LIBOR + 1.550%)		1.947	%		9/15/31		131,383,175		118,955,799	(a)(c)
GS Mortgage Securities Corp. Trust, 2018-LUAU G (1 mo. USD LIBOR + 4.450%)		4.847	%		11/15/32		12,548,000		12,251,521	(a)(c)
GS Mortgage Securities Trust, 2013-GC16 B		5.161	%		11/10/46		4,302,000		4,331,211	(c)
GS Mortgage Securities Trust, 2015-GC30 B		4.028	%		5/10/50		16,340,000		16,179,662	(c)
GS Mortgage Securities Trust, 2017-GS8 A4		3.469	%		11/10/50		5,490,000		5,495,372
GS Mortgage-Backed Securities Trust, 2022-NQM1 A4		4.000	%		5/25/62		29,372,083		29,321,925	(a)(c)
GSR Mortgage Loan Trust, 2005-AR7 1A1		2.435	%		11/25/35		572,368		381,212	(c)
HarborView Mortgage Loan Trust, 2005-3 2A1A (1 mo. USD LIBOR + 0.480%)		0.929	%		6/19/35		1,974,472		1,967,968	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         77

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
HarborView Mortgage Loan Trust, 2005-7 1A1 (11th District Cost of Funds + 1.850%)		2.073	%		6/19/45		1,904,470	$	1,051,992	(c)
HarborView Mortgage Loan Trust, 2006-2 1A		2.598	%		2/25/36		460,828		197,446	(c)
HarborView Mortgage Loan Trust, 2006-13 A (1 mo. USD LIBOR + 0.180%)		0.629	%		11/19/46		110,050		86,618	(c)
Impac CMB Trust, 2005-7 A1 (1 mo. USD LIBOR + 0.520%)		0.977	%		11/25/35		1,642,992		1,535,071	(c)
Impac CMB Trust, 2007-A A (1 mo. USD LIBOR + 0.500%)		0.957	%		5/25/37		4,191,630		4,149,328	(a)(c)
IndyMac INDX Mortgage Loan Trust, 2005-AR13 1A1		2.780	%		8/25/35		114,054		74,697	(c)
Jefferies Resecuritization Trust, 2015-R1 A2 (1 mo. USD LIBOR + 0.140%)		0.327	%		12/26/36		15,685,328		9,509,167	(a)(c)
JPMBB Commercial Mortgage Securities Trust, 2013-C14 B		4.549	%		8/15/46		4,000,000		3,960,100	(c)
JPMBB Commercial Mortgage Securities Trust, 2013-C17 B		4.886	%		1/15/47		1,602,000		1,623,898	(c)
JPMBB Commercial Mortgage Securities Trust, 2014-C25 AS		4.065	%		11/15/47		5,930,000		5,922,723
JPMBB Commercial Mortgage Securities Trust, 2015-C30 B		4.264	%		7/15/48		19,921,000		19,649,710	(c)
JPMBB Commercial Mortgage Securities Trust, 2015-C31 B		4.622	%		8/15/48		10,543,000		10,667,492	(c)
JPMDB Commercial Mortgage Securities Trust, 2017-C5 A5		3.694	%		3/15/50		620,000		629,572
JPMorgan Chase Commercial Mortgage Securities Trust, 2007-LD12 AJ		6.222	%		2/15/51		911,055		828,058	(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (1 mo. USD LIBOR + 3.750%)		4.147	%		5/15/28		10,175,200		9,406,973	(a)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2016-JP3 C		3.435	%		8/15/49		1,510,000		1,411,894	(c)
JPMorgan Mortgage Trust, 2018-3 A1		3.500	%		9/25/48		7,080,153		7,066,761	(a)(c)

See Notes to Schedule of Investments.

    78     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
JPMorgan Mortgage Trust, 2018-4 A1		3.500	%		10/25/48		5,463,581	$	5,440,611	(a)(c)
JPMorgan Mortgage Trust, 2018-5 A1		3.500	%		10/25/48		8,170,682		8,091,464	(a)(c)
JPMorgan Resecuritization Trust, 2015-1 4A2		0.503	%		9/27/36		12,710,123		11,750,813	(a)(c)
Legacy Mortgage Asset Trust, 2019-GS7 A1, Step bond (3.250% to 10/25/22, 6.250% to 10/25/23 then 7.250%)		3.250	%		11/25/59		58,457,319		58,251,012	(a)
Legacy Mortgage Asset Trust, 2021-GS1 A1, Step bond (1.892% to 1/25/24, 4.892% to 1/25/25 then 5.892%)		1.892	%		10/25/66		24,234,909		23,539,878	(a)
Lehman Mortgage Trust, 2006-7 3A4, IO (-1.000 x 1 mo. USD LIBOR + 7.150%)		6.693	%		11/25/36		5,972,912		1,662,256	(c)
MASTR Adjustable Rate Mortgages Trust, 2004-6 5A1		2.737	%		7/25/34		169,721		160,424	(c)
MASTR Adjustable Rate Mortgages Trust, 2006-OA1 1A1 (1 mo. USD LIBOR + 0.210%)		0.667	%		4/25/46		81,132		75,980	(c)
MASTR Reperforming Loan Trust, 2005-1 1A1		6.000	%		8/25/34		1,364,682		1,093,664	(a)
MASTR Reperforming Loan Trust, 2005-1 1A3		7.000	%		8/25/34		1,753,305		1,585,946	(a)
MASTR Reperforming Loan Trust, 2005-2 1A1F (1 mo. USD LIBOR + 0.350%)		0.807	%		5/25/35		1,887,346		981,257	(a)(c)
Med Trust, 2021-MDLN E (1 mo. USD LIBOR + 3.150%)		3.547	%		11/15/38		36,130,000		35,352,378	(a)(c)
MHC Commercial Mortgage Trust, 2021-MHC E (1 mo. USD LIBOR + 2.101%)		2.498	%		4/15/38		159,000		155,657	(a)(c)
ML-CFC Commercial Mortgage Trust, 2007-5 AJ		5.408	%		8/12/48		1,993,846		980,466	(c)
ML-CFC Commercial Mortgage Trust, 2007-5 AJFL		5.408	%		8/12/48		314,848		154,825	(a)(c)
ML-CFC Commercial Mortgage Trust, 2007-9 AJ		6.193	%		9/12/49		206,856		203,843	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         79

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Morgan Stanley Mortgage Loan Trust, 2004-5AR 2A		2.401	%		7/25/34		8,751	$	8,880	(c)
Morgan Stanley Mortgage Loan Trust, 2005-3AR 2A2		2.500	%		7/25/35		616,360		585,356	(c)
Mortgage Loan Resecuritization Trust, 2009-RS1 A85 (1 mo. USD LIBOR + 0.340%)		0.571	%		4/16/36		34,822,674		33,123,299	(a)(c)
MRA Issuance Trust, 2021-EBO1 A2X (1 mo. USD LIBOR + 1.750%)		1.981	%		4/15/22		41,920,000		41,904,205	(a)(c)
Multifamily Trust, 2016-1 B		14.508	%		4/25/46		1,933,332		2,186,623	(a)(c)
New Residential Mortgage Loan Trust, 2019-3A A1A		3.750	%		11/25/58		29,602,032		29,574,553	(a)(c)
Nomura Asset Acceptance Corp. Alternative Loan Trust Series, 2005-AP2 A5		5.476	%		5/25/35		48,661		30,599
Nomura Resecuritization Trust, 2015-5R 3A5 (1 mo. USD LIBOR + 0.260%)		0.707	%		2/26/46		9,226,597		8,129,519	(a)(c)
NYMT Loan Trust, 2020-SP2 A1		2.944	%		10/25/60		26,568,186		26,062,466	(a)(c)
PMT Credit Risk Transfer Trust, 2019-3R A (1 mo. USD LIBOR + 2.700%)		3.145	%		10/27/22		6,088,007		6,078,959	(a)(c)
PMT Credit Risk Transfer Trust, 2021-1R A (1 mo. USD LIBOR + 2.900%)		3.357	%		2/27/24		20,613,625		20,735,381	(a)(c)
Prime Mortgage Trust, 2006-1 3A2, IO (-1.000 x 1 mo. USD LIBOR + 7.150%)		6.693	%		6/25/36		8,212,554		1,386,228	(c)
Prime Mortgage Trust, 2006-DR1 2A2		6.000	%		5/25/35		21,742,754		20,083,310	(a)
PRKCM Trust, 2021-AFC1 A1		1.510	%		8/25/56		30,725,671		28,629,234	(a)(c)
RAMP Trust, 2004-SL4 A5		7.500	%		7/25/32		376,353		205,113
RAMP Trust, 2005-SL1 A7		8.000	%		5/25/32		166,321		124,759
RBSGC Mortgage Loan Trust, 2007-B 1A4 (1 mo. USD LIBOR + 0.450%)		0.907	%		1/25/37		5,643,324		2,095,839	(c)
RBSSP Resecuritization Trust, 2009-12 9A2		2.773	%		3/25/36		5,436,823		5,051,685	(a)(c)
Redwood Funding Trust, 2019-1 PT, Step bond (4.213% to 8/27/22, 4.468% to 8/27/23 then 4.968%)		4.213	%		9/27/24		28,153,630		28,104,080	(a)
Reperforming Loan REMIC Trust, 2006-R2 AS, IO		5.627	%		7/25/36		8,536,671		603,754	(a)(c)

See Notes to Schedule of Investments.

    80     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Residential Asset Securitization Trust, 2004-A2 1A3, PAC (1 mo. USD LIBOR + 0.400%)		0.857	%		5/25/34		7,435	$	7,170	(c)
Shops at Crystals Trust, 2016-CSTL A		3.126	%		7/5/36		6,160,000		5,978,056	(a)
SHOW Trust, 2022 BIZ A (1 mo. Term SOFR + 2.984%)		3.285	%		1/15/27		15,000,000		14,838,166	(a)(c)
Soho Trust, 2021-SOHO B		2.697	%		8/10/38		23,410,000		20,285,046	(a)(c)
Structured Adjustable Rate Mortgage Loan Trust, 2004-8 1A1		2.648	%		7/25/34		535		560	(c)
Structured Asset Mortgage Investments II Trust, 2006-AR6 1A1 (1 mo. USD LIBOR + 0.360%)		0.817	%		7/25/46		94,035		82,907	(c)
Structured Asset Mortgage Investments Trust, 2003-AR1 A1 (1 mo. USD LIBOR + 0.740%)		1.189	%		10/19/33		52,301		50,578	(c)
SunTrust Alternative Loan Trust, 2006-1F 3A (1 mo. USD LIBOR + 0.350%)		0.807	%		4/25/36		16,007,604		2,698,250	(c)
UBS Commercial Mortgage Trust, 2017-C1 A4		3.460	%		6/15/50		5,440,000		5,444,884
UBS Commercial Mortgage Trust, 2017-C3 A4		3.426	%		8/15/50		6,000,000		5,965,887
VLS Commercial Mortgage Trust, 2020-LAB A		2.130	%		10/10/42		64,690,000		57,598,288	(a)
Wachovia Bank Commercial Mortgage Trust, 2007-C33 AJ		5.315	%		2/15/51		3,437,156		2,653,485	(c)
WaMu Mortgage Pass-Through Certificates Series Trust, 2003-AR9 1A7		2.519	%		9/25/33		4,768		4,718	(c)
WaMu Mortgage Pass-Through Certificates Trust, 2005-AR15 A1C3 (1 mo. USD LIBOR + 0.960%)		1.417	%		11/25/45		16,843,967		9,454,815	(c)
Waterfall Commercial Mortgage Trust, 2015-SBC5 A		4.104	%		9/14/22		4,120,295		4,082,818	(a)(c)
Wells Fargo Alternative Loan Trust, 2007-PA1 A12, IO (-1.000 x 1 mo. USD LIBOR + 5.460%)		5.003	%		3/25/37		7,044,462		636,708	(c)
Wells Fargo Alternative Loan Trust, 2007-PA2 2A1 (1 mo. USD LIBOR + 0.430%)		0.887	%		6/25/37		2,572,929		2,089,740	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         81

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(l) - (continued)
Wells Fargo Commercial Mortgage Trust, 2013-LC12 B		4.305	%		7/15/46		450,000	$	432,767	(c)
Wells Fargo Commercial Mortgage Trust, 2014-LC18 AS		3.808	%		12/15/47		5,630,000		5,628,958
Wells Fargo Commercial Mortgage Trust, 2017-C41 XA, IO		1.184	%		11/15/50		30,822,493		1,507,192	(c)
Wells Fargo Commercial Mortgage Trust, 2018-C44 A5		4.212	%		5/15/51		7,530,000		7,862,687
Wells Fargo Commercial Mortgage Trust, 2022-JS2 G		3.454	%		12/15/39		10,000,000		7,415,465	(a)(c)
WFRBS Commercial Mortgage Trust, 2012-C7 XA, IO		1.201	%		6/15/45		64,834		1	(a)(c)
WFRBS Commercial Mortgage Trust, 2014-C19 B		4.723	%		3/15/47		270,000		269,347	(c)
WFRBS Commercial Mortgage Trust, 2014-C19 XA, IO		0.996	%		3/15/47		40,247,609		537,064	(c)
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $2,832,841,956)									2,731,997,500
SENIOR LOANS - 6.2%
COMMUNICATION SERVICES - 1.0%
Diversified Telecommunication Services - 0.3%
Delta TopCo Inc., First Lien Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 3.750%)		4.500	%		12/1/27		26,242,725		25,872,571	(c)(m)(n)
Level 3 Financing Inc., 2027 Term Loan B (1 mo. USD LIBOR + 1.750%)		2.207	%		3/1/27		48,377,251		47,542,018	(c)(m)(n)
Zayo Group Holdings Inc., Initial Dollar Term Loan (1 mo. USD LIBOR + 3.000%)		3.457	%		3/9/27		21,180,000		20,641,710	(c)(m)(n)
Total Diversified Telecommunication Services									94,056,299
Entertainment - 0.0%††
Go Daddy Operating Co. LLC, Term Loan B2 (1 mo. USD LIBOR + 1.750%)		2.199	%		2/15/24		8,940,517		8,893,937	(c)(m)(n)
Interactive Media & Services - 0.1%
Rackspace Technology Global Inc., Term Loan B (the greater of 3 mo. USD LIBOR or 0.750% + 2.750%)		3.500	%		2/15/28		22,690,800		22,305,851	(c)(m)(n)

See Notes to Schedule of Investments.

    82     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - 0.6%
Charter Communications Operating LLC, Term Loan B1 (1 mo. USD LIBOR + 1.750%)		2.210	%		4/30/25		43,590,379	$	43,474,647	(c)(m)(n)
Charter Communications Operating LLC, Term Loan B2 (1 mo. USD LIBOR + 1.750%)		2.210	%		2/1/27		11,238,006		11,159,228	(c)(m)(n)
Entercom Media Corp., Term Loan B2 (1 mo. USD LIBOR + 2.500%)		2.947	%		11/18/24		3,269,597		3,221,779	(c)(m)(n)
iHeartCommunications Inc., New Term Loan (1 mo. USD LIBOR + 3.000%)		3.457	%		5/1/26		28,443,041		28,313,341	(c)(m)(n)
Nexstar Broadcasting Inc., Term Loan B4 (1 mo. USD LIBOR + 2.500%)		2.731	%		9/18/26		46,474,474		46,354,105	(c)(m)(n)
Numericable U.S. LLC, USD Term Loan B12 (3 mo. USD LIBOR + 3.690%)		3.927	%		1/31/26		9,594,493		9,404,138	(c)(m)(n)
Terrier Media Buyer Inc., 2021 Refinancing Term Loan B (1 mo. USD LIBOR + 3.500%)		3.957	%		12/17/26		25,352,512		24,999,858	(c)(m)(n)
Univision Communications Inc., 2021 Replacement Term Loan (the greater of 1 mo. USD LIBOR or 0.750% + 3.250%)		4.000	%		3/15/26		8,034,785		8,001,320	(c)(m)(n)
Virgin Media Bristol LLC, Term Loan Facility N (1 mo. USD LIBOR + 2.500%)		2.897	%		1/31/28		39,153,074		38,737,072	(c)(m)(n)
Virgin Media Bristol LLC, Term Loan Facility Q (1 mo. USD LIBOR + 3.250%)		3.647	%		1/31/29		4,840,000		4,818,075	(c)(m)(n)
Ziggo Financing Partnership, Term Loan I (1 mo. USD LIBOR + 2.500%)		2.897	%		4/28/28		7,475,074		7,376,964	(c)(m)(n)
Total Media									225,860,527
Wireless Telecommunication Services - 0.0%††
CSC Holdings LLC, 2018 Incremental Term Loan (1 mo. USD LIBOR + 2.250%)		2.647	%		1/15/26		6,365,371		6,285,804	(c)(f)(m)(n)
CSC Holdings LLC, 2019 Term Loan (1 mo. USD LIBOR + 2.500%)		2.897	%		4/15/27		4,815,400		4,740,761	(c)(m)(n)
Total Wireless Telecommunication Services									11,026,565
TOTAL COMMUNICATION SERVICES									362,143,179

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         83

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CONSUMER DISCRETIONARY - 1.0%
Auto Components - 0.0%††
Clarios Global LP, First Lien Amendment No. 1 Dollar Term Loan (1 mo. USD LIBOR + 3.250%)		3.707	%		4/30/26		14,413,363	$	14,254,816	(c)(m)(n)
Diversified Consumer Services - 0.1%
Prime Security Services Borrower LLC, 2021 Refinancing Term Loan B1 (the greater of 3 mo. USD LIBOR or 0.750% + 2.750%)		3.500	%		9/23/26		42,269,903		42,023,469	(c)(m)(n)
ServiceMaster Co. LLC, Term Loan B (the greater of 1 mo. USD LIBOR or 0.500% + 1.750%)		2.250	%		11/5/26		5,124,484		5,100,988	(c)(m)(n)
Total Diversified Consumer Services									47,124,457
Hotels, Restaurants & Leisure - 0.7%
1011778 BC Unlimited Liability Co., Term Loan B4 (1 mo. USD LIBOR + 1.750%)		2.207	%		11/19/26		33,067,984		32,416,875	(c)(m)(n)
Alterra Mountain Co., 2028 Term Loan B (the greater of 1 mo. USD LIBOR or 0.500% + 3.500%)		4.000	%		8/17/28		14,578,184		14,487,071	(c)(f)(m)(n)
Aramark Services Inc., Term Loan B3 (1 mo. USD LIBOR + 1.750%)		2.207	%		3/11/25		3,770,135		3,707,927	(c)(m)(n)
Aramark Services Inc., Term Loan B4 (1 mo. USD LIBOR + 1.750%)		2.207	%		1/15/27		4,838,396		4,755,756	(c)(m)(n)
Caesars Resort Collection LLC, Term Loan B (1 mo. USD LIBOR + 2.750%)		3.207	%		12/23/24		31,473,059		31,350,629	(c)(m)(n)
Caesars Resort Collection LLC, Term Loan B1 (1 mo. USD LIBOR + 3.500%)		3.957	%		7/21/25		19,040,050		19,001,970	(c)(m)(n)
Entain Holdings Gibraltar Ltd., Term Loan Facility B (1 mo. USD LIBOR + 2.250%)		3.743	%		3/29/27		9,349,350		9,273,386	(c)(f)(m)(n)
Four Seasons Hotels Ltd., Restated Term Loan (1 mo. USD LIBOR + 2.000%)		2.209	%		11/30/23		11,234,386		11,215,063	(c)(m)(n)
Hilton Worldwide Finance LLC, Refinance Term Loan B2 (1 mo. USD LIBOR + 1.750%)		2.207	%		6/22/26		39,483,408		39,136,152	(c)(m)(n)
PCI Gaming Authority, Term Loan Facility B (1 mo. USD LIBOR + 2.500%)		2.957	%		5/29/26		11,357,770		11,288,544	(c)(m)(n)

See Notes to Schedule of Investments.

    84     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Hotels, Restaurants & Leisure - (continued)
Scientific Games International Inc., Initial Term Loan B5 (1 mo. USD LIBOR + 2.750%)		3.207	%		8/14/24		46,295,386	$	46,179,879	(c)(m)(n)
Station Casinos LLC, Term Loan Facility B1 (1 mo. USD LIBOR + 2.250%)		2.710	%		2/8/27		29,450,982		29,103,314	(c)(m)(n)
Total Hotels, Restaurants & Leisure									251,916,566
Specialty Retail - 0.2%
Academy Ltd., Refinancing Term Loan (the greater of 1 mo. USD LIBOR or 0.750% + 3.750%)		4.500	%		11/5/27		4,979,869		4,954,994	(c)(m)(n)
Great Outdoors Group LLC, Term Loan B2 (the greater of 1 mo. USD LIBOR or 0.750% + 3.750%)		4.500	%		3/6/28		10,060,420		10,036,829	(c)(m)(n)
Harbor Freight Tools USA Inc., 2021 Refinancing Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 2.750%)		3.250	%		10/19/27		19,802,122		19,424,694	(c)(m)(n)
Petco Health and Wellness Co. Inc., First Lien Initial Term Loan (3 mo. USD LIBOR + 3.250%)		4.256	%		3/3/28		20,886,363		20,720,421	(c)(m)(n)
Total Specialty Retail									55,136,938
TOTAL CONSUMER DISCRETIONARY									368,432,777
CONSUMER STAPLES - 0.1%
Beverages - 0.1%
Triton Water Holdings Inc., First Lien Initial Term Loan (3 mo. USD LIBOR + 3.500%)		4.506	%		3/31/28		28,534,390		27,887,230	(c)(m)(n)
Food & Staples Retailing - 0.0%††
Froneri U.S. Inc., Term Loan Facility B2 (1 mo. USD LIBOR + 2.250%)		2.707	%		1/29/27		14,049,750		13,823,971	(c)(m)(n)
US Foods Inc., 2019 Incremental Term Loan B (3 mo. USD LIBOR + 2.000%)		2.508	%		9/14/26		3,178,996		3,122,282	(c)(m)(n)
Total Food & Staples Retailing									16,946,253
Household Products - 0.0%††
Energizer Holdings Inc., Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 2.250%)		2.750	%		12/22/27		5,562,114		5,478,683	(c)(f)(m)(n)
TOTAL CONSUMER STAPLES									50,312,166

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         85

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
ENERGY - 0.1%
Oil, Gas & Consumable Fuels - 0.1%
Pilot Travel Centers LLC, Initial Term Loan B (1 mo. USD LIBOR + 2.000%)		2.457	%		8/4/28		62,862,118	$	62,102,430	(c)(m)(n)
FINANCIALS - 1.0%
Capital Markets - 0.2%
Allspring Buyer LLC, Term Loan (3 mo. USD LIBOR + 3.250%)		4.313	%		11/1/28		17,724,774		17,633,403	(c)(m)(n)
Edelman Financial Engines Center LLC, 2021 Refinancing Term Loan (the greater of 1 mo. USD LIBOR or 0.750% + 3.500%)		4.250	%		4/7/28		11,544,586		11,431,565	(c)(m)(n)
Finco I LLC, 2020 Term Loan (1 mo. USD LIBOR + 2.500%)		2.957	%		6/27/25		1,639,186		1,625,663	(c)(m)(n)
First Eagle Holdings Inc., 2018 Refinancing Term Loan B (3 mo. USD LIBOR + 2.500%)		3.506	%	��	2/1/27		10,487,752		10,323,881	(c)(m)(n)
Focus Financial Partners LLC, Term Loan B3 (1 mo. USD LIBOR + 2.000%)		2.457	%		7/3/24		23,396,803		23,114,169	(c)(m)(n)
Total Capital Markets									64,128,681
Diversified Financial Services - 0.6%
Castlelake Aviation One Designated Activity Co., Initial Term Loan (3 mo. USD LIBOR + 2.750%)		3.576	%		10/22/26		42,436,750		41,402,566	(c)(m)(n)
Citadel Securities LP, 2021 Term Loan (1 mo. Term SOFR + 2.500%)		2.813	%		2/2/28		30,102,162		29,981,151	(c)(m)(n)
Deerfield Dakota Holding LLC, First Lien Initial Dollar Term Loan (the greater of 1 mo. USD LIBOR or 1.000% + 3.750%)		4.750	%		4/9/27		37,160,178		37,024,729	(c)(m)(n)
Hudson River Trading LLC, Term Loan (1 mo. Term SOFR + 3.114%)		3.313	%		3/20/28		15,760,800		15,545,744	(c)(m)(n)
Jane Street Group LLC, Dollar Term Loan (1 mo. USD LIBOR + 2.750%)		3.207	%		1/26/28		20,777,276		20,539,272	(c)(m)(n)
Setanta Aircraft Leasing DAC, Term Loan (3 mo. USD LIBOR + 2.000%)		3.006	%		11/5/28		39,440,000		38,914,265	(c)(m)(n)(o)

See Notes to Schedule of Investments.

    86     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Financial Services - (continued)
UFC Holdings LLC, Term Loan B3 (the greater of 3 mo. USD LIBOR or 0.750% + 2.750%)		3.500	%		4/29/26		28,119,109	$	27,880,659	(c)(m)(n)
VFH Parent LLC, Initial Term Loan (the greater of 1 mo. Term SOFR or 0.500% + 3.000%)		3.500	%		1/13/29		13,940,000		13,829,665	(c)(m)(n)
Total Diversified Financial Services									225,118,051
Insurance - 0.2%
AmWINS Group Inc., Term Loan (the greater of 1 mo. USD LIBOR or 0.750% + 2.250%)		3.000	%		2/19/28		14,763,190		14,541,742	(c)(m)(n)
Asurion LLC, New Term Loan B7 (1 mo. USD LIBOR + 3.000%)		3.457	%		11/3/24		17,922,316		17,717,464	(c)(m)(n)
Asurion LLC, New Term Loan B8 (1 mo. USD LIBOR + 3.250%)		3.707	%		12/23/26		29,143,183		28,554,199	(c)(m)(n)
Asurion LLC, New Term Loan B9 (1 mo. USD LIBOR + 3.250%)		3.707	%		7/31/27		13,127,400		12,881,261	(c)(m)(n)
Asurion LLC, Replacement Term Loan B6 (1 mo. USD LIBOR + 3.125%)		3.582	%		11/3/23		5,697,545		5,671,194	(c)(m)(n)
Total Insurance									79,365,860
TOTAL FINANCIALS									368,612,592
HEALTH CARE - 1.2%
Health Care Equipment & Supplies - 0.1%
Medline Borrower LP, Initial Dollar Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 3.250%)		3.750	%		10/23/28		35,430,000		35,117,685	(c)(m)(n)
Health Care Providers & Services - 0.5%
EyeCare Partners LLC, First Lien Initial Term Loan (3 mo. USD LIBOR + 3.750%)		4.756	%		2/18/27		11,611,085		11,482,318	(c)(m)(n)
Global Medical Response Inc., 2020 Term Loan (the greater of 3 mo. USD LIBOR or 1.000% + 4.250%)		5.250	%		10/2/25		15,544,351		15,464,220	(c)(m)(n)
Grifols Worldwide Operations USA Inc., Dollar Term Loan B (1 mo. USD LIBOR + 2.000%)		2.457	%		11/15/27		44,602,086		43,916,329	(c)(m)(n)
LifePoint Health Inc., First Lien Term Loan B (1 mo. USD LIBOR + 3.750%)		4.197	%		11/16/25		20,090,131		20,003,241	(c)(m)(n)
Phoenix Guarantor Inc., Term Loan B1 (1 mo. USD LIBOR + 3.250%)		3.707	%		3/5/26		23,682,017		23,456,327	(c)(m)(n)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         87

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
Phoenix Guarantor Inc., Term Loan B3 (1 mo. USD LIBOR + 3.500%)		3.947	%		3/5/26		17,152,146	$	16,995,890	(c)(m)(n)
Phoenix Newco Inc., First Lien Initial Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 3.500%)		4.000	%		11/15/28		17,480,000		17,373,896	(c)(m)(n)
Sterigenics-Nordion Holdings LLC, Term Loan (the greater of 3 mo. USD LIBOR or 0.500% + 2.750%)		3.250	%		12/11/26		42,349,289		41,908,010	(c)(m)(n)
Total Health Care Providers & Services									190,600,231
Health Care Technology - 0.2%
AthenaHealth Group Inc., Delayed Draw Term Loan		—			2/15/29		7,792,754		7,724,567	(o)
AthenaHealth Group Inc., Term Loan B (the greater of 1 mo. Term SOFR or 0.500% + 3.500%)		4.000	%		2/15/29		45,977,246		45,574,945	(c)(m)(n)
Change Healthcare Holdings LLC, Closing Date Term Loan (the greater of 1 mo. USD LIBOR or 1.000% + 2.500%)		3.500	%		3/1/24		32,719,266		32,584,299	(c)(m)(n)
Total Health Care Technology									85,883,811
Life Sciences Tools & Services - 0.1%
ICON Luxembourg Sarl, Term Loan (3 mo. USD LIBOR + 2.250%)		3.313	%		7/3/28		24,134,307		24,051,406	(c)(m)(n)
PRA Health Sciences Inc., Term Loan (3 mo. USD LIBOR + 2.250%)		3.313	%		7/3/28		6,014,215		5,993,556	(c)(m)(n)
Total Life Sciences Tools & Services									30,044,962
Pharmaceuticals - 0.3%
Gainwell Acquisition Corp., Term Loan B (3 mo. USD LIBOR + 4.000%)		5.006	%		10/1/27		38,261,693		38,261,693	(c)(f)(m)(n)
Horizon Therapeutics USA Inc., Incremental Term Loan B2 (the greater of 1 mo. USD LIBOR or 0.500% + 1.750%)		2.250	%		3/15/28		23,839,200		23,638,116	(c)(m)(n)
Jazz Financing Lux Sarl, Initial Dollar Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 3.500%)		4.000	%		5/5/28		39,402,250		39,306,306	(c)(m)(n)
Total Pharmaceuticals									101,206,115
TOTAL HEALTH CARE									442,852,804

See Notes to Schedule of Investments.

    88     Western Asset Core Plus Bond Fund 2022 Quarterly Report

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(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
INDUSTRIALS - 1.0%
Aerospace & Defense - 0.0%††
Avolon TLB Borrower 1 (US) LLC, Term Loan B5 (the greater of 1 mo. USD LIBOR or 0.500% + 2.250%)		2.750	%		12/1/27		7,547,945	$	7,484,580	(c)(m)(n)
Transdigm Inc., Refinancing Term Loan F (1 mo. USD LIBOR + 2.250%)		2.707	%		12/9/25		1,943,856		1,913,785	(c)(m)(n)
Total Aerospace & Defense									9,398,365
Airlines - 0.2%
Air Canada, Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 3.500%)		4.250	%		8/11/28		14,730,000		14,607,225	(c)(m)(n)
Delta Air Lines Inc., Initial Term Loan (the greater of 3 mo. USD LIBOR or 1.000% + 3.750%)		4.750	%		10/20/27		14,290,000		14,794,580	(c)(m)(n)
United Airlines Inc., Term Loan B (the greater of 3 mo. USD LIBOR or 0.750% + 3.750%)		4.500	%		4/21/28		28,076,400		27,793,671	(c)(m)(n)
Total Airlines									57,195,476
Building Products - 0.2%
Hunter Douglas Holding BV, Term Loan B1 (the greater of 1 mo. Term SOFR or 0.500% + 3.500%)		4.000	%		2/26/29		48,000,000		47,115,120	(c)(m)(n)
Quikrete Holdings Inc., Term Loan B1		—			6/9/28		16,700,000		16,429,794	(o)
Total Building Products									63,544,914
Commercial Services & Supplies - 0.4%
Ali Group SRL, Term Loan B		—			10/13/28		32,730,000		32,307,292	(o)
Allied Universal Holdco LLC, USD Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 3.750%)		4.250	%		5/12/28		43,323,082		42,715,693	(c)(m)(n)
APi Group DE Inc., Initial Term Loan (1 mo. USD LIBOR + 2.500%)		2.957	%		10/1/26		26,199,547		25,943,053	(c)(m)(n)
Garda World Security Corp., Term Loan B2 (1 mo. USD LIBOR + 4.250%)		4.710	%		10/30/26		7,439,555		7,367,838	(c)(m)(n)
GFL Environmental Inc., 2020 Term Loan (the greater of 3 mo. USD LIBOR or 0.500% + 3.000%)		3.500	%		5/30/25		3,597,048		3,589,188	(c)(m)(n)
Verscend Holding Corp., New Term Loan B (1 mo. USD LIBOR + 4.000%)		4.457	%		8/27/25		21,894,263		21,866,895	(c)(f)(m)(n)
Total Commercial Services & Supplies									133,789,959

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         89

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Construction & Engineering - 0.0%††
Brown Group Holding LLC, Initial Term Loan (3 mo. USD LIBOR + 2.500%)		3.506	%		6/7/28		4,973,244	$	4,916,251	(c)(m)(n)
Electrical Equipment - 0.0%††
Brookfield WEC Holdings Inc., Refinancing Term Loan 2 (the greater of 1 mo. USD LIBOR or 0.500% + 2.750%)		3.250	%		8/1/25		8,277,094		8,143,915	(c)(m)(n)
Road & Rail - 0.2%
Genesee & Wyoming Inc., Initial Term Loan (3 mo. USD LIBOR + 2.000%)		3.006	%		12/30/26		48,301,671		47,841,356	(c)(m)(n)
XPO Logistics Inc., Refinancing Term Loan (1 mo. USD LIBOR + 1.750%)		1.992	%		2/24/25		17,030,000		16,900,487	(c)(m)(n)
Total Road & Rail									64,741,843
Trading Companies & Distributors - 0.0%††
BrightView Landscapes LLC, Initial Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 2.500%)		3.000	%		8/15/25		12,165,089		12,089,057	(c)(f)(m)(n)
Delos Finance SARL, 2018 Term Loan (3 mo. USD LIBOR + 1.750%)		2.756	%		10/6/23		5,500,000		5,472,500	(c)(m)(n)
Total Trading Companies & Distributors									17,561,557
TOTAL INDUSTRIALS									359,292,280
INFORMATION TECHNOLOGY - 0.6%
Communications Equipment - 0.0%††
CommScope Inc., Initial Term Loan (1 mo. USD LIBOR + 3.250%)		3.707	%		4/6/26		1,950,000		1,902,059	(c)(m)(n)
Electronic Equipment, Instruments & Components - 0.1%
II-VI Inc., Term Loan B		—			12/8/28		20,760,000		20,656,200	(f)(o)
IT Services - 0.0%††
FleetCor Technologies Operating Co. LLC, Term Loan B4 (1 mo. USD LIBOR + 1.750%)		2.207	%		4/28/28		12,336,836		12,154,004	(c)(m)(n)
Software - 0.5%
Cloudera Inc., Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 3.750%)		4.250	%		10/10/28		12,340,000		12,208,888	(c)(m)(n)
DCert Buyer Inc., First Lien Initial Term Loan (1 mo. USD LIBOR + 4.000%)		4.457	%		10/16/26		45,007,996		44,748,525	(c)(m)(n)

See Notes to Schedule of Investments.

    90     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Software - (continued)
Magenta Buyer LLC, First Lien Initial Term Loan (the greater of 3 mo. USD LIBOR or 0.750% + 5.000%)		5.750	%		7/27/28		52,269,000	$	51,955,386	(c)(m)(n)
Peraton Corp., First Lien Term Loan B (the greater of 1 mo. USD LIBOR or 0.750% + 3.750%)		4.500	%		2/1/28		39,225,879		39,029,749	(c)(m)(n)
RealPage Inc., First Lien Initial Term Loan (the greater of 1 mo. USD LIBOR or 0.500% + 3.250%)		3.750	%		4/24/28		44,919,238		44,470,046	(c)(m)(n)
Seattle SpinCo Inc., Initial Term Loan (1 mo. USD LIBOR + 2.750%)		3.207	%		6/21/24		1,308,946		1,295,038	(c)(m)(n)
Total Software									193,707,632
TOTAL INFORMATION TECHNOLOGY									228,419,895
MATERIALS - 0.2%
Chemicals - 0.1%
INEOS US Petrochem LLC, 2026 Dollar Term Loan B (the greater of 1 mo. USD LIBOR or 0.500% + 2.750%)		3.250	%		1/29/26		17,249,127		16,975,297	(c)(m)(n)
Containers & Packaging - 0.1%
Berry Global Inc., Term Loan Z (1 mo. USD LIBOR + 1.750%)		2.071	%		7/1/26		9,703,283		9,583,496	(c)(m)(n)
Reynolds Consumer Products LLC, Initial Term Loan (1 mo. USD LIBOR + 1.750%)		2.207	%		2/4/27		27,417,443		27,025,785	(c)(m)(n)
Total Containers & Packaging									36,609,281
Paper & Forest Products - 0.0%††
Asplundh Tree Expert LLC, 2021 Refinancing Term Loan (1 mo. USD LIBOR + 1.750%)		2.207	%		9/7/27		12,710,453		12,598,347	(c)(m)(n)
TOTAL MATERIALS									66,182,925
TOTAL SENIOR LOANS (Cost - $2,323,521,022)									2,308,351,048
						FACE AMOUNT†/ UNITS
ASSET-BACKED SECURITIES - 3.2%
AccessLex Institute, 2004-A B1 (28 day Auction Rate Security)		0.000	%		7/1/39		5,225,000		4,931,409	(c)
Applebee’s Funding LLC/IHOP Funding LLC, 2019-1A A2I		4.194	%		6/5/49		23,789,700		23,697,011	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         91

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
Avis Budget Rental Car Funding AESOP LLC, 2019-3A A		2.360	%		3/20/26		26,770,000	$	26,064,370	(a)
Avis Budget Rental Car Funding AESOP LLC, 2020-1A D		3.340	%		8/20/26		5,000,000		4,581,494	(a)
Avis Budget Rental Car Funding AESOP LLC, 2021-1A A		1.380	%		8/20/27		8,010,000		7,438,647	(a)
Bear Stearns Asset Backed Securities I Trust, 2005-CL1 A1 (1 mo. USD LIBOR + 0.500%)		0.500	%		9/25/34		835,250		810,362	(c)
Brazos Student Finance Corp., 2009-1 AS (3 mo. USD LIBOR + 2.500%)		3.466	%		12/27/39		1,990,627		2,016,069	(c)
CIT Mortgage Loan Trust, 2007-1 1M1 (1 mo. USD LIBOR + 1.500%)		1.957	%		10/25/37		47,370,000		47,515,606	(a)(c)
CIT Mortgage Loan Trust, 2007-1 1M2 (1 mo. USD LIBOR + 1.750%)		2.207	%		10/25/37		108,930,000		106,033,551	(a)(c)
Conseco Finance Corp., 1996-5 B1		8.100	%		7/15/26		116,090		139	(c)
Conseco Finance Corp., 1999-3 A9		6.530	%		2/1/31		8,680,889		8,159,754	(c)
Countrywide Asset-Backed Certificates, 2006-SD4 A1 (1 mo. USD LIBOR + 0.680%)		1.137	%		12/25/36		41,384		34,468	(a)(c)
Countrywide Home Equity Loan Trust, 2006-HW 2A1B (1 mo. USD LIBOR + 0.150%)		0.547	%		11/15/36		293,696		248,264	(c)
Countrywide Home Equity Loan Trust, 2006-I 2A (1 mo. USD LIBOR + 0.140%)		0.537	%		1/15/37		2,423,242		2,314,357	(c)
Credit Suisse European Mortgage Capital Ltd., 2019-1OTF A (3 mo. USD LIBOR + 2.900%)		3.199	%		8/9/24		56,168,325		54,942,648	(a)(c)
Credit Suisse European Mortgage Capital Ltd., 2020-1OTF A (3 mo. USD LIBOR + 2.900%)		3.114	%		8/9/24		60,774,472		59,430,141	(a)(c)
DB Master Finance LLC, 2021-1A A23		2.791	%		11/20/51		41,805,225		37,589,139	(a)
Dividend Solar Loans LLC, 2018-2 B		4.250	%		12/20/38		418,895		428,855	(a)
ECMC Group Student Loan Trust, 2020-2A A (1 mo. USD LIBOR + 1.150%)		1.607	%		11/25/69		14,449,644		14,369,015	(a)(c)
EFS Volunteer No 2 LLC, 2012-1 A2 (1 mo. USD LIBOR + 1.350%)		1.807	%		3/25/36		6,910,740		7,013,937	(a)(c)
Fannie Mae Grantor Trust, 2017-T1 A		2.898	%		6/25/27		3,989,386		4,004,532

See Notes to Schedule of Investments.

    92     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
First Franklin Mortgage Loan Trust, 2006-FF14 A5 (1 mo. USD LIBOR + 0.1600%)		0.617	%		10/25/36		8,719,596	$	8,629,868	(c)
Ford Credit Floorplan Master Owner Trust, 2018-4 A		4.060	%		11/15/30		48,520,000		50,676,957
GMAC Mortgage Corp. Loan Trust, 2004-HE3 A2VN (1 mo. USD LIBOR + 0.500%)		0.957	%		10/25/34		1,361,305		1,361,144	(a)(c)
GSRPM Mortgage Loan Trust, 2007-1 A (1 mo. USD LIBOR + 0.400%)		0.857	%		10/25/46		4,788,077		4,428,670	(a)(c)
Hertz Vehicle Financing III LP, 2021-2A A		1.680	%		12/27/27		62,630,000		57,245,498	(a)
Hertz Vehicle Financing LLC, 2021-1A A		1.210	%		12/26/25		1,660,000		1,573,954	(a)
Hildene Community Funding CDO Ltd., 2015-1A ARR		2.600	%		11/1/35		41,500,000		40,047,500	(a)
HSI Asset Securitization Corp. Trust, 2007-OPT1 1A (1 mo. USD LIBOR + 0.140%)		0.597	%		12/25/36		66,186,249		59,818,543	(c)
J.G. Wentworth XLI LLC, 2018-1A A		3.740	%		10/17/72		6,742,424		6,927,209	(a)
Jimmy Johns Funding LLC, 2017-1A A2II		4.846	%		7/30/47		6,384,315		6,414,325	(a)
Loanpal Solar Loan Ltd., 2020-3GS A		2.470	%		12/20/47		22,535,993		21,109,426	(a)
Loanpal Solar Loan Ltd., 2021-1GS A		2.290	%		1/20/48		14,866,740		13,621,640	(a)
Long Beach Mortgage Loan Trust, 2006-9 2A3 (1 mo. USD LIBOR + 0.160%)		0.617	%		10/25/36		3,190,634		1,239,923	(c)
Morgan Stanley ABS Capital I Inc. Trust, 2003-HE3 M1 (1 mo. USD LIBOR + 1.020%)		1.477	%		10/25/33		119,723		118,847	(c)
Morgan Stanley Resecuritization Trust, 2015-R7 1BXA		7.117	%		2/26/29		18,137,842		18,073,217	(a)(c)
National Collegiate Student Loan Trust, 2005-2 A51 (1 mo. USD LIBOR + 0.370%)		0.827	%		6/25/33		14,759,858		14,234,336	(c)
National Collegiate Student Loan Trust, 2006-1 A5 (1 mo. USD LIBOR + 0.350%)		0.807	%		3/25/33		7,953,911		7,706,487	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         93

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
National Collegiate Student Loan Trust, 2006-4 A4 (1 mo. USD LIBOR + 0.310%)		0.767	%		5/25/32		3,192,077	$	3,100,803	(c)
Navient Private Education Refi Loan Trust, 2018-DA A2A		4.000	%		12/15/59		18,417,891		18,809,319	(a)
Navient Private Education Refi Loan Trust, 2020-GA A		1.170	%		9/16/69		2,917,031		2,822,144	(a)
Navient Student Loan Trust, 2019-BA B		4.040	%		12/15/59		900,000		898,251	(a)
Nelnet Student Loan Trust, 2015-2A A2 (1 mo. USD LIBOR + 0.600%)		1.057	%		9/25/47		15,802,289		15,450,346	(a)(c)
Oak Street Investment Grade Net Lease Fund Series, 2020-1A A1		1.850	%		11/20/50		21,039,151		19,789,036	(a)
Option One Mortgage Loan Trust, 2007-FXD2 1A1		5.820	%		3/25/37		24,515,534		22,814,232
Origen Manufactured Housing Contract Trust, 2006-A A2		1.862	%		10/15/37		5,795,486		5,753,181	(c)
Origen Manufactured Housing Contract Trust, 2007-A A2		2.627	%		4/15/37		7,351,514		6,957,105	(c)
Ownit Mortgage Loan Asset-Backed Certificates, 2004-1 M2 (1 mo. USD LIBOR + 1.800%)		2.257	%		7/25/35		1,595,929		1,584,763	(c)
RAMP Trust, 2003-RS7 MII1 (1 mo. USD LIBOR + 0.750%)		1.582	%		8/25/33		825,015		807,887	(c)
RAMP Trust, 2006-RZ4 M1 (1 mo. USD LIBOR + 0.350%)		0.807	%		10/25/36		17,250,000		16,859,408	(c)
Renaissance Home Equity Loan Trust, 2003-4 A3 (1 mo. USD LIBOR + 1.240%)		1.697	%		3/25/34		4,372,025		4,281,518	(c)
Renaissance Home Equity Loan Trust, 2006-1 AF5		6.166	%		5/25/36		13,504,200		8,907,953
Residential Funding Securities Corp., 2002-RP2 A1 (1 mo. USD LIBOR + 1.500%)		1.957	%		10/25/32		1,238,071		1,208,700	(a)(c)
SBA Small Business Investment Cos., 2018-10B 1		3.548	%		9/10/28		5,476,790		5,516,633
Securitized Asset Backed Receivables LLC Trust, 2006-WM3 A1 (1 mo. USD LIBOR + 0.100%)		0.557	%		10/25/36		25,495,475		10,638,331	(c)

See Notes to Schedule of Investments.

    94     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
Securitized Asset Backed Receivables LLC Trust, 2006-WM3 A2 (1 mo. USD LIBOR + 0.320%)		0.777	%		10/25/36		69,493,231	$	29,381,356	(c)
Securitized Asset Backed Receivables LLC Trust, 2006-WM3 A3 (1 mo. USD LIBOR + 0.440%)		0.897	%		10/25/36		35,227,043		14,989,664	(c)
SLM Student Loan Trust, 2003-10A A4 (3 mo. USD LIBOR + 0.670%)		1.496	%		12/17/68		14,100,000		13,915,817	(a)(c)
SMB Private Education Loan Trust, 2015-C R		0.000	%		9/18/46		49,649		22,613,470	(a)
SMB Private Education Loan Trust, 2021-A B		2.310	%		1/15/53		10,985,000		10,269,804	(a)
SMB Private Education Loan Trust, 2021-A C		2.990	%		1/15/53		20,000,000		18,674,666	(a)
SMB Private Education Loan Trust, 2021-A D1		3.860	%		1/15/53		2,170,000		2,076,443	(a)
SMB Private Education Loan Trust, 2021-C APT1		1.390	%		1/15/53		39,383,373		36,428,127	(a)
SpringCastle America Funding LLC, 2020-AA A		1.970	%		9/25/37		16,100,580		15,527,044	(a)
Structured Asset Securities Corp. Mortgage Loan Trust, 2006-ARS1 A1 (1 mo. USD LIBOR + 0.220%)		0.677	%		2/25/36		1,082,397		33,520	(a)(c)
Structured Asset Securities Corp. Mortgage Loan Trust, 2007-BC2 A4 (1 mo. USD LIBOR + 0.300%)		0.757	%		3/25/37		21,946,005		19,843,631	(c)
Structured Asset Securities Corp. Mortgage Loan Trust, 2007-WF2 M1 (1 mo. USD LIBOR + 2.250%)		2.707	%		8/25/37		17,510,000		17,567,948	(a)(c)
Structured Asset Securities Corp. Trust, 2005-SC1 1A2		6.702	%		5/25/31		4,124,843		3,768,571	(a)(c)
Sunrun Atlas Issuer LLC, 2019-2 A		3.610	%		2/1/55		2,454,419		2,411,864	(a)
Sunrun Demeter Issuer LLC, 2021-2A A		2.270	%		1/30/57		33,750,254		30,817,968	(a)
Thrust Engine Leasing, 2021-1A A		4.163	%		7/15/40		19,107,863		17,901,599	(a)
Towd Point Mortgage Trust, 2019- HY2 A1 (1 mo. USD LIBOR + 1.000%)		1.457	%		5/25/58		21,264,232		21,285,492	(a)(c)
Trinity Rail Leasing 2020 LLC, 2020-2A A2		2.560	%		11/19/50		28,400,000		27,056,064	(a)

See Notes to Schedule of Investments.

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(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS			VALUE
ASSET-BACKED SECURITIES - (continued)
United States Small Business Administration, 2019-20D 1		2.980	%		4/1/39		4,441,538		$	4,458,356
United States Small Business Administration, 2019-25G 1		2.690	%		7/1/44		8,642,476			8,698,374
Wingstop Funding LLC, 2020-1A A2		2.841	%		12/5/50		3,910,350			3,643,588	(a)
TOTAL ASSET-BACKED SECURITIES (Cost - $1,268,263,451)										1,192,414,288
						FACE AMOUNT†
NON-U.S. TREASURY INFLATION PROTECTED SECURITIES - 0.2%
Japan - 0.2%
Japanese Government CPI Linked Bond (Cost - $93,242,975)		0.100	%		3/10/26		9,506,317,775	JPY		81,764,953
						SHARES
INVESTMENTS IN UNDERLYING FUNDS - 0.2%
VanEck J.P. Morgan EM Local Currency Bond ETF (Cost - $61,488,977)							2,000,000			53,980,000
	EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†
PURCHASED OPTIONS - 0.0%††
EXCHANGE-TRADED PURCHASED OPTIONS - 0.0%††
Japanese Yen Futures, Call @ $83.00		5/6/22			143		178,750			123,337
U.S. Treasury 5-Year Notes Futures, Call @ $114.50		4/22/22			7,934		7,934,000			5,454,625
U.S. Treasury 10-Year Notes Futures, Call @ $123.00		4/1/22			20		20,000			4,063
U.S. Treasury 10-Year Notes Futures, Call @ $123.25		4/22/22			4,930		4,930,000			3,312,344
TOTAL PURCHASED OPTIONS (Cost - $7,872,551)										8,894,369
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $39,534,940,600)										37,265,135,734

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

(Percentages shown based on Fund net assets)

Schedule of investments (unaudited) (cont’d) March 31, 2022

SECURITY	RATE			SHARES		VALUE
SHORT-TERM INVESTMENTS - 1.9%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $704,776,206)		0.195	%		704,776,206	$	704,776,206	(p)
TOTAL INVESTMENTS - 102.5% (Cost - $40,239,716,806)							37,969,911,940
Liabilities in Excess of Other Assets - (2.5)%							(940,298,596	)
TOTAL NET ASSETS - 100.0%						$	37,029,613,344

† Face amount/notional amount denominated in U.S. dollars, unless otherwise noted.

†† Represents less than 0.1%.

* Non-income producing security.

(a) Security is exempt from registration under Rule 144A of the Securities Act of 1933. This security may be resold in transactions that are exempt from registration, normally to qualified institutional buyers. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

(b) Security has no maturity date. The date shown represents the next call date.

(c) Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published reference rate and spread but are determined by the issuer or agent and are based on current market conditions. These securities do not indicate a reference rate and spread in their description above.

(d) Securities traded on a when-issued or delayed delivery basis.

(e) Security is valued in good faith in accordance with procedures approved by the Board of Directors (Note 1).

(f) Security is valued using significant unobservable inputs (Note 1).

(g) All or a portion of this security is held at the broker as collateral for open futures contracts.

(h) All or a portion of this security is held at the broker as collateral for open swap contracts.

(i) This security is traded on a to-be-announced (“TBA”) basis. At March 31, 2022, the Fund held TBA securities with a total cost of $1,410,121,516.

(j) Security is exempt from registration under Regulation S of the Securities Act of 1933. Regulation S applies to securities offerings that are made outside of the United States and do not involve direct selling efforts in the United States. This security has been deemed liquid pursuant to guidelines approved by the Board of Directors.

(k) The coupon payment on this security is currently in default as of March 31, 2022.

(l) Collateralized mortgage obligations are secured by an underlying pool of mortgages or mortgage pass-through certificates that are structured to direct payments on underlying collateral to different series or classes of the obligations. The interest rate may change positively or inversely in relation to one or more interest rates, financial indices or other financial indicators and may be subject to an upper and/or lower limit.

(m) Interest rates disclosed represent the effective rates on senior loans. Ranges in interest rates are attributable to multiple contracts under the same loan.

(n) Senior loans may be considered restricted in that the Fund ordinarily is contractually obligated to receive approval from the agent bank and/or borrower prior to the disposition of a senior loan.

(o) All or a portion of this loan is unfunded as of March 31, 2022. The interest rate for fully unfunded term loans is to be determined.

(p) In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Fund ownership of at least 5% of the outstanding voting securities of an issuer, or a company which is under common ownership or control with the Fund. At March 31, 2022, the total market value of investments in Affiliated Companies was $704,776,206 and the cost was $704,776,206 (Note 2).

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         97

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

Abbreviation(s) used in this schedule:
ACES	— Alternative Credit Enhancement Securities
ARS	— Argentine Peso
BRL	— Brazilian Real
CAS	— Connecticut Avenue Securities
CDO	— Collateralized Debt Obligation
CMT	— Constant Maturity Treasury
CNH	— Chinese Offshore Yuan
CNY	— Chinese Yuan Renminbi
CPI	— Consumer Price Index
ETF	— Exchange-Traded Fund
GTD	— Guaranteed
ICE	— Intercontinental Exchange
IDR	— Indonesian Rupiah
IO	— Interest Only
JPY	— Japanese Yen
JSC	— Joint Stock Company
LIBOR	— London Interbank Offered Rate
MXN	— Mexican Peso
OFZ	— Obligatsyi Federal’novo Zaima (Russian Federal Loan Obligation)
PAC	— Planned Amortization Class
PO	— Principal Only
REMIC	— Real Estate Mortgage Investment Conduit
RUB	— Russian Ruble
SOFR	— Secured Overnight Financing Rate
STRIPS	— Separate Trading of Registered Interest and Principal Securities
USD	— United States Dollar

SCHEDULE OF WRITTEN OPTIONS

EXCHANGE-TRADED WRITTEN OPTIONS

SECURITY	EXPIRATION DATE		STRIKE PRICE			CONTRACTS		NOTIONAL AMOUNT†		VALUE
90-Day Eurodollar Futures, Call		12/19/22	$	99.00			209		522,500	$	(19,594	)
Euro-Bund Futures, Call		4/22/22		161.50	EUR		138		13,800,000		(67,172	)
Euro-Bund Futures, Call		4/22/22		162.00	EUR		275		27,500,000		(109,519	)
U.S. Treasury 5-Year Notes Futures, Call		4/1/22		114.50			3,591		3,591,000		(1,066,078	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		114.75			2,174		2,174,000		(1,188,906	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		115.00			5,542		5,542,000		(2,381,331	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		115.75			13,350		13,350,000		(2,503,125	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		116.50			9,664		9,664,000		(830,505	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		117.00			420		420,000		(22,969	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		117.50			630		630,000		(24,610	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		118.25			9,400		9,400,000		(220,317	)
U.S. Treasury 5-Year Notes Futures, Call		4/22/22		118.50			2,416		2,416,000		(56,626	)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d)   SCHEDULE OF WRITTEN OPTIONS (cont’d) March 31, 2022

SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT†		VALUE
U.S. Treasury 5-Year Notes Futures, Call		4/22/22	$	119.00		634		634,000	$	(9,906	)
U.S. Treasury 5-Year Notes Futures, Call		5/20/22		114.75		5,282		5,282,000		(4,374,156	)
U.S. Treasury 5-Year Notes Futures, Put		4/22/22		114.00		7,730		7,730,000		(2,476,019	)
U.S. Treasury 10-Year Notes Futures, Call		4/1/22		121.75		414		414,000		(478,687	)
U.S. Treasury 10-Year Notes Futures, Call		4/1/22		122.00		1,037		1,037,000		(972,187	)
U.S. Treasury 10-Year Notes Futures, Call		4/1/22		122.75		1,263		1,263,000		(434,156	)
U.S. Treasury 10-Year Notes Futures, Call		4/1/22		123.50		312		312,000		(19,500	)
U.S. Treasury 10-Year Notes Futures, Call		4/1/22		124.25		156		156,000		(2,438	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		122.25		311		311,000		(379,031	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		122.50		10,367		10,367,000		(11,014,937	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		123.00		13,594		13,594,000		(10,832,719	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		123.50		207		207,000		(116,438	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		124.00		9,150		9,150,000		(3,574,219	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		124.50		4,605		4,605,000		(1,223,203	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		125.00		208		208,000		(39,000	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		125.50		258		258,000		(32,250	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		126.00		622		622,000		(58,313	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		127.00		6,148		6,148,000		(384,250	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		127.50		155		155,000		(7,266	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		128.00		1,581		1,581,000		(74,109	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		128.50		466		466,000		(14,563	)
U.S. Treasury 10-Year Notes Futures, Call		4/22/22		129.00		1,555		1,555,000		(48,594	)
U.S. Treasury 10-Year Notes Futures, Call		5/20/22		124.00		15,265		15,265,000		(11,925,781	)
U.S. Treasury 10-Year Notes Futures, Call		5/20/22		124.50		4,145		4,145,000		(2,525,859	)
U.S. Treasury 10-Year Notes Futures, Call		5/20/22		126.00		1,239		1,239,000		(367,828	)
U.S. Treasury 10-Year Notes Futures, Call		5/20/22		127.00		4,183		4,183,000		(784,312	)
U.S. Treasury 10-Year Notes Futures, Call		5/20/22		130.00		4,177		4,177,000		(326,328	)
U.S. Treasury 10-Year Notes Futures, Put		4/1/22		122.50		632		632,000		(88,875	)
U.S. Treasury 10-Year Notes Futures, Put		4/1/22		122.75		846		846,000		(185,062	)
U.S. Treasury 10-Year Notes Futures, Put		4/22/22		122.25		634		634,000		(376,437	)
U.S. Treasury 10-Year Notes Futures, Put		4/22/22		126.50		318		318,000		(1,177,594	)
U.S. Treasury 10-Year Notes Futures, Put		4/22/22		127.00		470		470,000		(1,968,125	)
U.S. Treasury Long-Term Bonds Futures, Call		4/1/22		152.00		156		156,000		(12,188	)
U.S. Treasury Long-Term Bonds Futures, Call		4/22/22		152.00		311		311,000		(311,000	)
U.S. Treasury Long-Term Bonds Futures, Call		4/22/22		153.00		624		624,000		(448,500	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         99

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d)   SCHEDULE OF WRITTEN OPTIONS (cont’d) March 31, 2022

SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT†		VALUE
U.S. Treasury Long-Term Bonds Futures, Call		4/22/22	$	154.00		619		619,000	$	(319,172	)
U.S. Treasury Long-Term Bonds Futures, Call		4/22/22		156.00		103		103,000		(28,969	)
U.S. Treasury Long-Term Bonds Futures, Call		5/20/22		155.00		311		311,000		(306,141	)
U.S. Treasury Long-Term Bonds Futures, Call		5/20/22		156.00		104		104,000		(82,875	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $73,161,026)									$	(66,291,739	)

† Notional amount denominated in U.S. dollars, unless otherwise noted.

Abbreviation(s) used in this schedule:
EUR	— Euro

At March 31, 2022, the Fund had the following open futures contracts:

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
3-Month SOFR		7,326		6/22	$	1,807,576,010	$	1,807,049,475	$	(526,535	)
90-Day Eurodollar		53,874		12/22		13,251,446,809		13,110,237,900		(141,208,909	)
90-Day Eurodollar		8,459		6/23		2,098,720,404		2,048,558,325		(50,162,079	)
90-Day Eurodollar		2,039		9/23		504,990,057		493,845,800		(11,144,257	)
90-Day Eurodollar		18,447		12/23		4,531,097,369		4,472,013,975		(59,083,394	)
Australian 10-Year Bonds		3,620		6/22		356,908,306		343,327,350		(13,580,956	)
Australian Dollar		10,644		6/22		778,127,375		797,927,460		19,800,085
British Pound		2,720		6/22		222,622,539		223,227,000		604,461
Canadian Dollar		364		6/22		28,278,570		29,152,760		874,190
Euro		5,521		6/22		755,278,321		765,969,737		10,691,416
Euro-Bobl		1,460		6/22		212,124,336		208,125,008		(3,999,328	)
Euro-Bund		2,940		6/22		534,080,172		516,021,818		(18,058,354	)
Euro-OAT		1,520		6/22		267,136,613		254,764,065		(12,372,548	)
Japanese Yen		5,828		6/22		631,332,670		600,101,875		(31,230,795	)
Mexican Peso		16,585		6/22		383,053,928		412,386,025		29,332,097
Swiss Franc		344		6/22		46,479,560		46,745,300		265,740
U.S. Treasury 5-Year Notes		146,606		6/22		17,209,576,490		16,813,875,625		(395,700,865	)
U.S. Treasury Ultra Long-Term Bonds		3,407		6/22		624,472,074		603,464,875		(21,007,199	)

See Notes to Schedule of Investments.

    100     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy (continued)
United Kingdom
Long Gilt Bonds		7		6/22	$	1,130,789	$	1,114,776	$	(16,013	)
										(696,523,243	)
Contracts to Sell:
30-Day Federal Funds		12,123		4/22		5,033,290,412		5,034,352,185		(1,061,773	)
3-Month Euribor		35,328		6/22		9,807,016,122		9,803,130,840		3,885,282
90-Day Eurodollar		260		4/22		64,230,829		64,348,375		(117,546	)
90-Day Eurodollar		14,923		6/22		3,675,204,212		3,673,669,525		1,534,687
Euro-Buxl		881		6/22		196,534,476		181,471,684		15,062,792
Japanese 10-Year Bonds		305		6/22		377,652,834		375,049,285		2,603,549
U.S. Treasury 2-Year Notes		6,043		6/22		1,296,894,437		1,280,643,897		16,250,540
U.S. Treasury 10-Year Notes		20,786		6/22		2,563,587,110		2,554,079,750		9,507,360
U.S. Treasury Long-Term Bonds		3,436		6/22		529,363,164		515,614,750		13,748,414
U.S. Treasury Ultra 10-Year Notes		4,227		6/22		590,476,761		572,626,406		17,850,355
										79,263,660
Net unrealized depreciation on open futures contracts									$	(617,259,583	)

Abbreviation(s) used in this table:

OAT	— Obligations Assimilables du Trésor (French Treasury Bonds)
SOFR	— Secured Overnight Financing Rate

At March 31, 2022, the Fund had the following open forward foreign currency contracts:

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	1,418,333		RUB	178,710,000	Bank of America N.A.		4/19/22	$	(735,910)
USD	2,076,321		RUB	211,784,757	BNP Paribas SA		4/19/22		(476,618	)
USD	2,086,432		RUB	179,433,164	BNP Paribas SA		4/19/22		(76,528	)
BRL	22,185,841		USD	4,639,157	Citibank N.A.		4/19/22		(4,229	)
BRL	159,143,232		USD	33,100,362	Citibank N.A.		4/19/22		146,856
BRL	188,184,548		USD	39,479,828	Citibank N.A.		4/19/22		(165,478	)
BRL	597,900,000		USD	102,345,087	Citibank N.A.		4/19/22		22,564,478
EUR	33,000,000		USD	37,783,795	Citibank N.A.		4/19/22		(1,257,397	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         101

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

Currency Purchased		Currency Sold			Counterparty	Settlement Date			Unrealized Appreciation (Depreciation)
INR	4,359,319,201		USD	57,842,755	Citibank N.A.		4/19/22		$	(429,590	)
USD	66,170,747		BRL	316,230,000	Citibank N.A.		4/19/22			105,934
USD	87,356,389		BRL	415,896,691	Citibank N.A.		4/19/22			469,828
USD	208,987,155		CNY	1,342,220,000	Citibank N.A.		4/19/22			(2,365,525	)
USD	328,567,570		CNY	2,108,188,099	Citibank N.A.		4/19/22			(3,398,280	)
USD	6,628,092		EUR	6,000,000	Citibank N.A.		4/19/22			(13,071	)
USD	6,659,466		EUR	6,000,000	Citibank N.A.		4/19/22			18,303
USD	9,982,710		EUR	9,000,000	Citibank N.A.		4/19/22			20,965
USD	11,632,530		EUR	10,500,000	Citibank N.A.		4/19/22			10,494
USD	722,437,666		EUR	638,330,589	Citibank N.A.		4/19/22			15,894,711
USD	1,420,458		IDR	20,598,770,000	Citibank N.A.		4/19/22	��		(12,656	)
USD	3,054,408		IDR	44,360,383,873	Citibank N.A.		4/19/22			(31,868	)
USD	7,911,830		IDR	114,733,400,000	Citibank N.A.		4/19/22			(70,492	)
USD	658,379		MXN	13,700,000	Citibank N.A.		4/19/22			(28,124	)
USD	84,367,116		MXN	1,755,570,000	Citibank N.A.		4/19/22			(3,603,984	)
USD	112,719,336		MXN	2,362,710,000	Citibank N.A.		4/19/22			(5,675,371	)
USD	4,011,443		RUB	435,241,600	Citibank N.A.		4/19/22			(1,235,136	)
USD	10,004,779		RUB	860,411,015	Citibank N.A.		4/19/22			(366,965	)
EUR	40,000,000		USD	45,398,280	Goldman Sachs Group Inc.		4/19/22			(1,123,857	)
GBP	59,432,403		USD	80,581,602	Goldman Sachs Group Inc.		4/19/22			(2,518,397	)
JPY	1,000,000,000		USD	8,668,516	Goldman Sachs Group Inc.		4/19/22			(451,328	)
RUB	406,015,041		USD	5,297,052	Goldman Sachs Group Inc.		4/19/22			(402,781	)
RUB	32,547,028,315		USD	422,271,892	Goldman Sachs Group Inc.		4/19/22			(29,936,790	)
USD	1,359,003		BRL	6,480,000	Goldman Sachs Group Inc.		4/19/22			5,242
USD	3,160,883		BRL	15,030,000	Goldman Sachs Group Inc.		4/19/22			20,909
USD	9,955,836		BRL	47,340,000	Goldman Sachs Group Inc.		4/19/22			65,856
USD	13,166,796		BRL	62,670,000	Goldman Sachs Group Inc.		4/19/22			74,168
USD	59,784,194		BRL	284,840,000	Goldman Sachs Group Inc.		4/19/22			277,185
USD	890,610		RUB	94,850,000	Goldman Sachs Group Inc.		4/19/22			(252,750	)
USD	6,028,645		RUB	617,936,155	Goldman Sachs Group Inc.		4/19/22			(1,420,208	)
USD	8,197,317		RUB	736,733,879	Goldman Sachs Group Inc.		4/19/22			(683,572	)
USD	9,349,731		RUB	995,746,329	Goldman Sachs Group Inc.		4/19/22			(2,653,400	)
USD	10,047,742		RUB	1,049,989,077	Goldman Sachs Group Inc.		4/19/22			(2,609,253	)
USD	10,119,106		RUB	870,243,092	Goldman Sachs Group Inc.		4/19/22			(371,158	)
USD	10,119,106		RUB	877,832,427	Goldman Sachs Group Inc.		4/19/22			(462,643	)
USD	20,499,513		RUB	2,219,072,306	Goldman Sachs Group Inc.		4/19/22			(6,250,086	)
USD	20,513,926		RUB	1,733,426,724	Goldman Sachs Group Inc.		4/19/22			(381,504	)
USD	31,630,329		RUB	3,368,630,000	Goldman Sachs Group Inc.		4/19/22			(8,976,506	)
USD	37,514,635		RUB	4,032,823,305	Goldman Sachs Group Inc.		4/19/22			(11,098,655	)

See Notes to Schedule of Investments.

    102     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	73,430,154		RUB	7,758,791,663	Goldman Sachs Group Inc.		4/19/22	$	(20,097,472	)
AUD	280,324,721		USD	200,984,975	JPMorgan Chase & Co.		4/19/22		8,828,299
CNY	3,035,168,991		USD	476,478,649	JPMorgan Chase & Co.		4/19/22		1,454,252
USD	7,256,960		AUD	10,000,000	JPMorgan Chase & Co.		4/19/22		(227,691	)
USD	12,351,438		AUD	16,500,000	JPMorgan Chase & Co.		4/19/22		1,764
USD	47,071,187		CHF	43,000,000	JPMorgan Chase & Co.		4/19/22		507,456
USD	83,613,608		CNH	536,285,141	JPMorgan Chase & Co.		4/19/22		(670,340	)
USD	390,943,036		CNH	2,488,244,130	JPMorgan Chase & Co.		4/19/22		(115,793	)
USD	230,453,236		CNY	1,479,625,000	JPMorgan Chase & Co.		4/19/22		(2,535,922	)
USD	31,603,355		MXN	655,864,429	JPMorgan Chase & Co.		4/19/22		(1,261,820	)
USD	4,238,535		RUB	459,881,056	JPMorgan Chase & Co.		4/19/22		(1,305,058	)
USD	8,487,679		RUB	853,011,712	JPMorgan Chase & Co.		4/19/22		(1,794,871	)
BRL	369,257,618		USD	63,566,469	Morgan Stanley & Co. Inc.		4/19/22		13,576,546
CAD	1,553,435,939		USD	1,220,630,919	Morgan Stanley & Co. Inc.		4/19/22		21,862,073
JPY	9,349,983,258		USD	80,805,666	Morgan Stanley & Co. Inc.		4/19/22		(3,975,100	)
USD	9,157,932		EUR	8,000,000	Morgan Stanley & Co. Inc.		4/19/22		303,047
ZAR	728,620,000		USD	45,776,214	Morgan Stanley & Co. Inc.		4/19/22		3,966,019
Total								$	(31,349,792	)

Abbreviation(s) used in this table:

AUD	— Australian Dollar
BRL	— Brazilian Real
CAD	— Canadian Dollar
CHF	— Swiss Franc
CNH	— Chinese Offshore Yuan
CNY	— Chinese Yuan Renminbi
EUR	— Euro
GBP	— British Pound
IDR	— Indonesian Rupiah
INR	— Indian Rupee
JPY	— Japanese Yen
MXN	— Mexican Peso
RUB	— Russian Ruble
USD	— United States Dollar
ZAR	— South African Rand

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         103

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

At March 31, 2022, the Fund had the following open swap contracts:

CENTRALLY CLEARED INTEREST RATE SWAPS
	NOTIONAL AMOUNT*			TERMINATION DATE		PAYMENTS MADE BY THE FUND†	PAYMENTS RECEIVED BY THE FUND†	UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
		1,182,383,000			6/15/22	3-Month LIBOR quarterly	0.190% semi-annually	$	(589	)	$	(1,570,774	)
		520,862,000			11/18/23	3.970%**	CPURNSA**		(1,921,595	)		16,181,905
		3,597,809,000			6/4/24	3-Month LIBOR quarterly	0.820% semi-annually		—			(78,192,161	)
		379,970,000			10/20/26	2.950%**	CPURNSA**		(198,855	)		18,885,304
		520,862,000			11/18/26	CPURNSA**	3.370%**		5,153,026			(19,251,562	)
		591,904,000			11/20/26	1.520% annually	Daily SOFR Compound annually		(1,014,019	)		13,881,819
		400,173,000			3/4/27	Daily SOFR Compound annually	1.550% annually		(611,524	)		(11,595,376	)
		1,429,588,000			5/15/27	0.710% annually	Daily SOFR Compound annually		4,605,388			98,856,302
		244,183,000			2/15/28	1.350% semi-annually	3-Month LIBOR quarterly		(1,688,297	)		16,355,186
		878,109,000			8/15/28	1.130% annually	Daily SOFR Compound annually		6,366,371			47,538,492
		441,554,000			8/15/28	1.220% annually	Daily SOFR Compound annually		(194,285	)		24,928,747
		251,692,000			11/1/28	1.200% annually	Daily SOFR Compound annually		(14,686	)		14,803,090
		3,851,130,000	MXN		7/18/29	28-Day MXN TIIE - Banxico every 28 days	7.450% every 28 days		1,201,809			(9,109,054	)
		3,847,470,000	MXN		7/20/29	28-Day MXN TIIE - Banxico every 28 days	7.440% every 28 days		1,462,020			(9,468,404	)
		379,970,000			10/20/31	CPURNSA**	2.770%**		312,783			(21,951,163	)
		379,990,000			10/20/31	1.733% annually	Daily SOFR Compound annually		1,496,859			3,132,575

See Notes to Schedule of Investments.

    104     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

CENTRALLY CLEARED INTEREST RATE SWAPS (cont’d)
	NOTIONAL AMOUNT*			TERMINATION DATE		PAYMENTS MADE BY THE FUND†		PAYMENTS RECEIVED BY THE FUND†		UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
		199,961,000			3/18/32		2.000% annually		Daily SOFR Compound annually	$	1,620,828		$	590,397
		374,360,000			7/20/45		0.560% annually		Daily SOFR annually		3,192,610			101,228,917
		163,600,000			8/19/45		0.740% annually		Daily SOFR annually		—			39,625,513
		12,221,800,000	JPY		5/9/46		0.641% semi-annually		Daily TONA Compound semi-annually		16,343			2,014,217
		289,607,000			2/15/47		1.630% semi-annually		3-Month LIBOR quarterly		1,683,512			37,434,325
		174,372,000			2/15/47		1.520% annually		Daily SOFR Compound annually		(2,452,602	)		20,435,797
		193,568,000			2/15/47		1.729% annually		Daily SOFR Compound annually		2,453,765			9,665,777
		159,450,000			5/15/47		1.630% annually		Daily SOFR Compound annually		7,064,630			5,971,399
		19,814,000			8/15/47		1.650% annually		Daily SOFR Compound annually		1,992,261			(399,973	)
		52,426,000			6/7/51		2.050% semi-annually		3-Month LIBOR quarterly		(6,553	)		2,531,310
		159,937,000			7/9/51		1.671% semi-annually		3-Month LIBOR quarterly		(712,818	)		21,641,168
Total										$	29,806,382		$	344,163,773

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         105

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION1
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		IMPLIED CREDIT SPREAD AT MARCH 31, 20223		PERIODIC PAYMENTS RECEIVED BY THE FUND†		MARKET VALUE			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION
Apache Corp., 4.875%, due 11/15/27	$	54,561,000		6/20/26		1.148%		1.000% quarterly	$	(319,401	)	$	(2,062,318	)	$	1,742,917
Apache Corp., 4.875%, due 11/15/27		75,119,000		12/20/26		1.268%		1.000% quarterly		(881,995	)		(2,133,906	)		1,251,911
Teva Pharmaceutical Finance Co. BV, 2.950%, due 12/18/22		25,010,000		6/20/26		2.762%		1.000% quarterly		(1,624,950	)		(2,082,136	)		457,186
Total	$	154,690,000							$	(2,826,346	)	$	(6,278,360	)	$	3,452,014

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION1
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS RECEIVED BY THE FUND†		MARKET VALUE3		UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED APPRECIATION
Markit CDX.NA.HY.38 Index	$	656,390,000		6/20/27		5.000% quarterly	$	35,341,351	$	33,640,818	$	1,700,533
Markit CDX.NA.IG.38 Index		8,050,999,000		6/20/27		1.000% quarterly		127,270,192		110,988,922		16,281,270
Total	$	8,707,389,000					$	162,611,543	$	144,629,740	$	17,981,803

See Notes to Schedule of Investments.

    106     Western Asset Core Plus Bond Fund 2022 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2022

¹  If the Fund is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) pay to the buyer of protection an amount equal to the notional amount of the swap and take delivery of the referenced obligation or underlying securities comprising the referenced index or (ii) pay a net settlement amount in the form of cash or securities equal to the notional amount of the swap less the recovery value of the referenced obligation or underlying securities comprising the referenced index.

²  The maximum potential amount the Fund could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

³  The quoted market prices and resulting values for credit default swap agreements on asset-backed securities and credit indices serve as an indicator of the current status of the payment/performance risk and represent the likelihood of an expected loss (or profit) for the credit derivative had the notional amount of the swap agreement been closed/sold as of the period end. Decreasing market values (sell protection) or increasing market values (buy protection) when compared to the notional amount of the swap, represent a deterioration of the referenced entity’s credit soundness and a greater likelihood or risk of default or other credit event occurring as defined under the terms of the agreement.

† Percentage shown is an annual percentage rate.

* Notional amount denominated in U.S. dollars, unless otherwise noted.

** One time payment made at termination date.

Abbreviation(s) used in this table:

CPURNSA	— U.S. CPI Urban Consumers NSA Index
JPY	— Japanese Yen
LIBOR	— London Interbank Offered Rate
MXN	— Mexican Peso
SOFR	— Secured Overnight Financing Rate
TIIE	— Equilibrium Interbanking Interest Rate (Tasa de Intere’s Interbancaria de Equilibrio)
TONA	— Tokyo Overnight Average Rate

This Schedule of Investments is unaudited and is intended to provide information about the Fund’s investments as of the date of the schedule. Other information regarding the Fund is available in the Fund’s most recent annual or semi-annual shareholder report.

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2022 Quarterly Report         107

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Core Plus Bond Fund (the “Fund”) is a separate diversified investment series of Western Asset Funds, Inc. (the “Corporation”). The Corporation, a Maryland corporation, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”).

(a) Investment valuation. The valuations for fixed income securities (which may include, but are not limited to, corporate, government, municipal, mortgage-backed, collateralized mortgage obligations and asset-backed securities) and certain derivative instruments are typically the prices supplied by independent third party pricing services, which may use market prices or broker/dealer quotations or a variety of valuation techniques and methodologies. The independent third party pricing services typically use inputs that are observable such as issuer details, interest rates, yield curves, prepayment speeds, credit risks/spreads, default rates and quoted prices for similar securities. Investments in open-end funds are valued at the closing net asset value per share of each fund on the day of valuation. Futures contracts are valued daily at the settlement price established by the board of trade or exchange on which they are traded. Equity securities for which market quotations are available are valued at the last reported sales price or official closing price on the primary market or exchange on which they trade. When the Fund holds securities or other assets that are denominated in a foreign currency, the Fund will normally use the currency exchange rates as of 4:00 p.m. (Eastern Time). If independent third party pricing services are unable to supply prices for a portfolio investment, or if the prices supplied are deemed by the manager to be unreliable, the market price may be determined by the manager using quotations from one or more broker/dealers or at the transaction price if the security has recently been purchased and no value has yet been obtained from a pricing service or pricing broker. When reliable prices are not readily available, such as when the value of a security has been significantly affected by events after the close of the exchange or market on which the security is principally traded, but before the Fund calculates its net asset value, the Fund values these securities as determined in accordance with procedures approved by the Fund’s Board of Directors.

The Board of Directors is responsible for the valuation process and has delegated the supervision of the daily valuation process to the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee, pursuant to the policies adopted by the Board of Directors, is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Board of Directors. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

108

Notes to Schedule of Investments (unaudited) (cont’d)

The Valuation Committee will consider pricing methodologies it deems relevant and appropriate when making fair value determinations. Examples of possible methodologies include, but are not limited to, multiple of earnings; discount from market of a similar freely traded security; discounted cash-flow analysis; book value or a multiple thereof; risk premium/yield analysis; yield to maturity; and/or fundamental investment analysis. The Valuation Committee will also consider factors it deems relevant and appropriate in light of the facts and circumstances. Examples of possible factors include, but are not limited to, the type of security; the issuer’s financial statements; the purchase price of the security; the discount from market value of unrestricted securities of the same class at the time of purchase; analysts’ research and observations from financial institutions; information regarding any transactions or offers with respect to the security; the existence of merger proposals or tender offers affecting the security; the price and extent of public trading in similar securities of the issuer or comparable companies; and the existence of a shelf registration for restricted securities.

For each portfolio security that has been fair valued pursuant to the policies adopted by the Board of Directors, the fair value price is compared against the last available and next available market quotations. The Valuation Committee reviews the results of such back testing monthly and fair valuation occurrences are reported to the Board of Directors quarterly.

The Fund uses valuation techniques to measure fair value that are consistent with the market approach and/or income approach, depending on the type of security and the particular circumstance. The market approach uses prices and other relevant information generated by market transactions involving identical or comparable securities. The income approach uses valuation techniques to discount estimated future cash flows to present value.

GAAP establishes a disclosure hierarchy that categorizes the inputs to valuation techniques used to value assets and liabilities at measurement date. These inputs are summarized in the three broad levels listed below:

• Level 1 – quoted prices in active markets for identical investments

• Level 2 – other significant observable inputs (including quoted prices for similar investments, interest rates, prepayment speeds, credit risk, etc.)

• Level 3 – significant unobservable inputs (including the Fund’s own assumptions in determining the fair value of investments)

The inputs or methodologies used to value securities are not necessarily an indication of the risk associated with investing in those securities.

109

Notes to Schedule of Investments (unaudited) (cont’d)

The following is a summary of the inputs used in valuing the Fund’s assets and liabilities carried at fair value:

ASSETS
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Long-Term Investments†:
Corporate Bonds & Notes:
Financials		—	$	3,578,829,415	$	18,236,782	$	3,597,066,197
Other Corporate Bonds & Notes		—		8,934,670,136		—		8,934,670,136
U.S. Government & Agency Obligations		—		8,975,959,125		—		8,975,959,125
Mortgage-Backed Securities		—		6,497,031,349		—		6,497,031,349
Sovereign Bonds		—		2,883,006,769		—		2,883,006,769
Collateralized Mortgage Obligations		—		2,731,997,500		—		2,731,997,500
Senior Loans:
Communication Services		—		355,857,375		6,285,804		362,143,179
Consumer Discretionary		—		344,672,320		23,760,457		368,432,777
Consumer Staples		—		44,833,483		5,478,683		50,312,166
Health Care		—		404,591,111		38,261,693		442,852,804
Industrials		—		325,336,328		33,955,952		359,292,280
Information Technology		—		207,763,695		20,656,200		228,419,895
Other Senior Loans		—		496,897,947		—		496,897,947
Asset-Backed Securities		—		1,192,414,288		—		1,192,414,288
Non-U.S. Treasury Inflation Protected Securities		—		81,764,953		—		81,764,953
Investments in Underlying Funds	$	53,980,000		—		—		53,980,000
Purchased Options		8,894,369		—		—		8,894,369
Total Long-Term Investments		62,874,369		37,055,625,794		146,635,571		37,265,135,734
Short-Term Investments†		704,776,206		—		—		704,776,206
Total Investments	$	767,650,575	$	37,055,625,794	$	146,635,571	$	37,969,911,940

110

Notes to Schedule of Investments (unaudited) (cont’d)

ASSETS (cont’d)
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Futures Contracts††	$	142,010,968		—		—	$	142,010,968
Forward Foreign Currency Contracts††		—	$	90,174,385		—		90,174,385
Centrally Cleared Interest Rate Swaps††		—		495,702,240		—		495,702,240
Centrally Cleared Credit Default Swaps on Corporate Issues - Sell Protection††		—		3,452,014		—		3,452,014
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection††		—		17,981,803		—		17,981,803
Total Other Financial Instruments	$	142,010,968	$	607,310,442		—	$	749,321,410
Total	$	909,661,543	$	37,662,936,236	$	146,635,571	$	38,719,233,350

LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Written Options	$	66,291,739		—		—	$	66,291,739
Futures Contracts††		759,270,551		—		—		759,270,551
Forward Foreign Currency Contracts††		—	$	121,524,177		—		121,524,177
Centrally Cleared Interest Rate Swaps††		—		151,538,467		—		151,538,467
Total	$	825,562,290	$	273,062,644		—	$	1,098,624,934

† See Schedule of Investments for additional detailed categorizations.

†† Reflects the unrealized appreciation (depreciation) of the instruments.

111

Notes to Schedule of Investments (unaudited) (cont’d)

2. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Fund owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Fund. The following company was considered an affiliated company for all or some portion of the period ended March 31, 2022. The following transactions were effected in such company for the period ended March 31, 2022.

	Affiliate Value at December 31, 2021		Purchased				Sold				Realized Gain (Loss)		Dividend Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at March 31, 2022
			Cost		Shares		Cost		Shares
Western Asset Premier Institutional Government Reserves, Premium Shares	$	17,796,111	$	2,618,284,093		2,618,284,093	$	1,931,303,998		1,931,303,998		—	$	16,587		—	$	704,776,206

112