Western Asset Funds NPORT-P Western Asset Core Plus Bond Fund (Mar 2023 report)

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CORPORATE BONDS & NOTES - 40.5%
COMMUNICATION SERVICES - 4.9%
Diversified Telecommunication Services - 1.7%
Altice France SA, Senior Secured Notes		5.500	%		1/15/28		300,000	$	246,735	(a)
Altice France SA, Senior Secured Notes		5.500	%		10/15/29		7,043,000		5,391,810	(a)
AT&T Inc., Senior Notes		3.800	%		2/15/27		1,250,000		1,211,835
AT&T Inc., Senior Notes		2.300	%		6/1/27		25,680,000		23,541,436
AT&T Inc., Senior Notes		1.650	%		2/1/28		24,680,000		21,690,951
AT&T Inc., Senior Notes		2.250	%		2/1/32		19,180,000		15,688,283
AT&T Inc., Senior Notes		2.550	%		12/1/33		10,540,000		8,483,763
AT&T Inc., Senior Notes		5.350	%		9/1/40		4,390,000		4,358,551
AT&T Inc., Senior Notes		5.550	%		8/15/41		5,040,000		5,127,513
AT&T Inc., Senior Notes		4.350	%		6/15/45		6,469,000		5,549,285
AT&T Inc., Senior Notes		3.500	%		9/15/53		28,630,000		20,822,555
AT&T Inc., Senior Notes		3.550	%		9/15/55		25,651,000		18,444,978
AT&T Inc., Senior Notes		3.800	%		12/1/57		1,520,000		1,131,040
AT&T Inc., Senior Notes		3.650	%		9/15/59		4,690,000		3,357,389
Telefonica Emisiones SA, Senior Notes		5.213	%		3/8/47		6,160,000		5,396,118
Telefonica Emisiones SA, Senior Notes		4.895	%		3/6/48		11,960,000		9,966,954
Verizon Communications Inc., Senior Notes		4.125	%		3/16/27		5,755,000		5,707,915
Verizon Communications Inc., Senior Notes		2.100	%		3/22/28		8,470,000		7,548,428
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		27,937,000		27,630,143
Verizon Communications Inc., Senior Notes		3.875	%		2/8/29		4,900,000		4,738,123
Verizon Communications Inc., Senior Notes		3.150	%		3/22/30		10,510,000		9,579,340
Verizon Communications Inc., Senior Notes		1.750	%		1/20/31		13,790,000		11,128,919
Verizon Communications Inc., Senior Notes		2.550	%		3/21/31		41,290,000		35,192,356
Verizon Communications Inc., Senior Notes		2.355	%		3/15/32		60,389,000		49,572,101
Verizon Communications Inc., Senior Notes		4.500	%		8/10/33		27,645,000		26,726,149

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         1

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Diversified Telecommunication Services - (continued)
Verizon Communications Inc., Senior Notes		4.400	%		11/1/34		2,200,000	$	2,092,294
Verizon Communications Inc., Senior Notes		4.272	%		1/15/36		1,140,000		1,058,156
Verizon Communications Inc., Senior Notes		5.250	%		3/16/37		11,010,000		11,319,988
Verizon Communications Inc., Senior Notes		2.650	%		11/20/40		32,010,000		22,881,138
Verizon Communications Inc., Senior Notes		3.400	%		3/22/41		4,410,000		3,510,479
Verizon Communications Inc., Senior Notes		3.850	%		11/1/42		4,840,000		4,052,932
Verizon Communications Inc., Senior Notes		4.125	%		8/15/46		9,310,000		7,966,160
Verizon Communications Inc., Senior Notes		4.862	%		8/21/46		12,748,000		12,148,793
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		1,455,000		1,471,053
Verizon Communications Inc., Senior Notes		4.000	%		3/22/50		24,170,000		20,151,907
Verizon Communications Inc., Senior Notes		2.875	%		11/20/50		32,510,000		21,656,140
Verizon Communications Inc., Senior Notes		3.550	%		3/22/51		5,610,000		4,287,201
Total Diversified Telecommunication Services									440,828,911
Entertainment - 0.4%
Walt Disney Co., Senior Notes		6.200	%		12/15/34		260,000		295,277
Walt Disney Co., Senior Notes		6.650	%		11/15/37		5,240,000		6,223,618
Warnermedia Holdings Inc., Senior Notes		6.412	%		3/15/26		11,760,000		11,822,940
Warnermedia Holdings Inc., Senior Notes		3.755	%		3/15/27		6,560,000		6,183,289	(a)
Warnermedia Holdings Inc., Senior Notes		4.054	%		3/15/29		9,150,000		8,517,928	(a)
Warnermedia Holdings Inc., Senior Notes		4.279	%		3/15/32		46,790,000		41,807,749	(a)
Warnermedia Holdings Inc., Senior Notes		5.050	%		3/15/42		3,380,000		2,830,203	(a)
Warnermedia Holdings Inc., Senior Notes		5.141	%		3/15/52		39,790,000		32,283,458	(a)
Total Entertainment									109,964,462

See Notes to Schedule of Investments.

    2     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Interactive Media & Services - 0.1%
Alphabet Inc., Senior Notes		0.450	%		8/15/25		3,590,000	$	3,294,379
Alphabet Inc., Senior Notes		1.100	%		8/15/30		7,900,000		6,470,434
Alphabet Inc., Senior Notes		1.900	%		8/15/40		7,890,000		5,537,248
Alphabet Inc., Senior Notes		2.050	%		8/15/50		4,870,000		3,100,378
Tencent Holdings Ltd., Senior Notes		3.840	%		4/22/51		10,083,000		7,341,289	(a)
Total Interactive Media & Services									25,743,728
Media - 1.8%
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		5.000	%		2/1/28		5,450,000		5,034,247	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		8/15/30		1,460,000		1,235,357	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.250	%		2/1/31		9,610,000		7,868,956	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.750	%		2/1/32		11,470,000		9,647,503	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		5/1/32		27,063,000		22,162,161
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.500	%		6/1/33		6,090,000		4,910,154	(a)
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.250	%		1/15/34		7,837,000		6,137,821	(a)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.908	%		7/23/25		29,327,000		29,046,156
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.200	%		3/15/28		25,869,000		24,499,118
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.050	%		3/30/29		19,860,000		19,173,882
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		2.800	%		4/1/31		5,450,000		4,389,747
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.400	%		4/1/33		18,970,000		16,849,486

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         3

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		4/1/38		9,215,000	$	8,042,426
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		3.500	%		3/1/42		6,700,000		4,532,505
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.484	%		10/23/45		6,620,000		6,278,921
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		5/1/47		1,790,000		1,478,599
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.750	%		4/1/48		10,450,000		9,028,949
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.125	%		7/1/49		15,750,000		12,483,218
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.800	%		3/1/50		6,040,000		4,609,654
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.834	%		10/23/55		2,608,000		2,537,654
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.500	%		4/1/63		11,060,000		8,988,841
Comcast Corp., Senior Notes		3.375	%		8/15/25		3,940,000		3,850,471
Comcast Corp., Senior Notes		3.950	%		10/15/25		21,460,000		21,227,800
Comcast Corp., Senior Notes		3.150	%		3/1/26		9,960,000		9,663,562
Comcast Corp., Senior Notes		3.300	%		4/1/27		12,400,000		11,926,141
Comcast Corp., Senior Notes		4.150	%		10/15/28		45,830,000		45,358,695

See Notes to Schedule of Investments.

    4     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Comcast Corp., Senior Notes		3.400	%		4/1/30		7,960,000	$	7,446,304
Comcast Corp., Senior Notes		4.250	%		10/15/30		20,418,000		20,017,156
Comcast Corp., Senior Notes		4.250	%		1/15/33		1,710,000		1,666,439
Comcast Corp., Senior Notes		4.200	%		8/15/34		244,000		233,746
Comcast Corp., Senior Notes		5.650	%		6/15/35		60,000		64,461
Comcast Corp., Senior Notes		6.500	%		11/15/35		451,000		519,278
Comcast Corp., Senior Notes		3.900	%		3/1/38		8,310,000		7,449,776
Comcast Corp., Senior Notes		3.250	%		11/1/39		1,580,000		1,283,816
Comcast Corp., Senior Notes		3.750	%		4/1/40		7,620,000		6,551,444
Comcast Corp., Senior Notes		3.400	%		7/15/46		1,550,000		1,204,115
Comcast Corp., Senior Notes		4.000	%		8/15/47		2,990,000		2,540,019
Comcast Corp., Senior Notes		3.969	%		11/1/47		11,796,000		9,935,459
Comcast Corp., Senior Notes		4.000	%		3/1/48		2,230,000		1,890,726
Comcast Corp., Senior Notes		3.999	%		11/1/49		11,776,000		9,906,373
Comcast Corp., Senior Notes		3.450	%		2/1/50		4,417,000		3,417,561
Comcast Corp., Senior Notes		2.800	%		1/15/51		9,010,000		6,094,716
Comcast Corp., Senior Notes		2.887	%		11/1/51		7,170,000		4,901,143
Comcast Corp., Senior Notes		2.937	%		11/1/56		4,834,000		3,223,381
Comcast Corp., Senior Notes		4.950	%		10/15/58		2,370,000		2,298,511
DISH DBS Corp., Senior Notes		5.875	%		11/15/24		11,864,000		10,592,179
DISH DBS Corp., Senior Notes		7.750	%		7/1/26		5,360,000		3,543,148
DISH DBS Corp., Senior Notes		5.125	%		6/1/29		12,390,000		6,611,056
DISH DBS Corp., Senior Secured Notes		5.250	%		12/1/26		6,330,000		5,062,544	(a)
DISH DBS Corp., Senior Secured Notes		5.750	%		12/1/28		1,120,000		837,900	(a)
Fox Corp., Senior Notes		5.476	%		1/25/39		13,410,000		12,855,989
Time Warner Cable Enterprises LLC, Senior Secured Notes		8.375	%		7/15/33		2,060,000		2,347,699
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		4,570,000		4,509,029
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		8,925,000		9,270,198
Time Warner Cable LLC, Senior Secured Notes		6.750	%		6/15/39		3,295,000		3,248,800
Time Warner Cable LLC, Senior Secured Notes		5.875	%		11/15/40		8,447,000		7,665,332
Virgin Media Secured Finance PLC, Senior Secured Notes		5.500	%		5/15/29		10,960,000		10,218,967	(a)
Total Media									468,369,289

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         5

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Wireless Telecommunication Services - 0.9%
CSC Holdings LLC, Senior Notes		5.375	%		2/1/28		9,173,000	$	7,523,752	(a)
CSC Holdings LLC, Senior Notes		4.125	%		12/1/30		5,960,000		4,285,806	(a)
CSC Holdings LLC, Senior Notes		3.375	%		2/15/31		6,420,000		4,447,134	(a)
CSC Holdings LLC, Senior Notes		4.500	%		11/15/31		43,058,000		31,086,584	(a)
Sprint Capital Corp., Senior Notes		6.875	%		11/15/28		635,000		682,943
Sprint Capital Corp., Senior Notes		8.750	%		3/15/32		14,390,000		17,535,078
Sprint LLC, Senior Notes		7.875	%		9/15/23		930,000		937,713
Sprint LLC, Senior Notes		7.625	%		2/15/25		5,365,000		5,568,151
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes		4.738	%		3/20/25		845,000		838,904	(a)
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/25		50,300,000		48,920,930
T-Mobile USA Inc., Senior Notes		2.250	%		2/15/26		3,600,000		3,351,459
T-Mobile USA Inc., Senior Notes		3.750	%		4/15/27		2,920,000		2,808,780
T-Mobile USA Inc., Senior Notes		2.625	%		2/15/29		16,630,000		14,667,837
T-Mobile USA Inc., Senior Notes		3.375	%		4/15/29		9,713,000		8,863,961
T-Mobile USA Inc., Senior Notes		3.875	%		4/15/30		51,475,000		48,340,271
T-Mobile USA Inc., Senior Notes		2.550	%		2/15/31		9,660,000		8,191,846
T-Mobile USA Inc., Senior Notes		2.875	%		2/15/31		8,370,000		7,229,242
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/31		27,920,000		25,132,844
T-Mobile USA Inc., Senior Notes		4.375	%		4/15/40		4,880,000		4,376,891
Vmed O2 UK Financing I PLC, Senior Secured Notes		4.750	%		7/15/31		1,140,000		978,582	(a)
Total Wireless Telecommunication Services									245,768,708
TOTAL COMMUNICATION SERVICES									1,290,675,098
CONSUMER DISCRETIONARY - 3.7%
Automobiles - 1.0%
Ford Motor Co., Senior Notes		3.250	%		2/12/32		20,250,000		15,944,174
Ford Motor Co., Senior Notes		6.100	%		8/19/32		12,800,000		12,421,902
Ford Motor Co., Senior Notes		4.750	%		1/15/43		2,720,000		2,089,558
Ford Motor Credit Co. LLC, Senior Notes		3.664	%		9/8/24		1,190,000		1,143,530
Ford Motor Credit Co. LLC, Senior Notes		5.125	%		6/16/25		3,120,000		3,058,365
Ford Motor Credit Co. LLC, Senior Notes		3.375	%		11/13/25		4,120,000		3,867,094
Ford Motor Credit Co. LLC, Senior Notes		4.950	%		5/28/27		28,210,000		26,949,013
Ford Motor Credit Co. LLC, Senior Notes		4.125	%		8/17/27		8,460,000		7,762,938

See Notes to Schedule of Investments.

    6     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Automobiles - (continued)
Ford Motor Credit Co. LLC, Senior Notes		3.815	%		11/2/27		550,000	$	493,702
Ford Motor Credit Co. LLC, Senior Notes		7.350	%		11/4/27		5,730,000		5,916,282
Ford Motor Credit Co. LLC, Senior Notes		2.900	%		2/16/28		13,780,000		11,864,305
Ford Motor Credit Co. LLC, Senior Notes		2.900	%		2/10/29		825,000		684,086
Ford Motor Credit Co. LLC, Senior Notes		5.113	%		5/3/29		8,435,000		7,930,629
Ford Motor Credit Co. LLC, Senior Notes		7.350	%		3/6/30		6,900,000		7,096,650
Ford Motor Credit Co. LLC, Senior Notes		4.000	%		11/13/30		33,395,000		28,422,722
Ford Motor Credit Co. LLC, Senior Notes		3.625	%		6/17/31		17,640,000		14,558,913
General Motors Co., Senior Notes		6.125	%		10/1/25		10,170,000		10,368,309
General Motors Co., Senior Notes		5.600	%		10/15/32		5,140,000		5,037,764
General Motors Co., Senior Notes		6.600	%		4/1/36		1,170,000		1,205,925
General Motors Co., Senior Notes		5.150	%		4/1/38		2,050,000		1,851,021
General Motors Co., Senior Notes		6.250	%		10/2/43		3,640,000		3,504,084
General Motors Co., Senior Notes		5.950	%		4/1/49		8,120,000		7,551,559
General Motors Financial Co. Inc., Senior Notes		4.250	%		5/15/23		920,000		918,383
General Motors Financial Co. Inc., Senior Notes		4.350	%		1/17/27		2,340,000		2,269,389
Nissan Motor Co. Ltd., Senior Notes		3.043	%		9/15/23		18,310,000		18,039,416	(a)
Nissan Motor Co. Ltd., Senior Notes		3.522	%		9/17/25		40,950,000		38,820,357	(a)
Nissan Motor Co. Ltd., Senior Notes		4.345	%		9/17/27		35,280,000		33,303,039	(a)
Total Automobiles									273,073,109
Broadline Retail - 0.9%
Amazon.com Inc., Senior Notes		0.800	%		6/3/25		17,270,000		16,075,023
Amazon.com Inc., Senior Notes		3.300	%		4/13/27		4,610,000		4,463,775
Amazon.com Inc., Senior Notes		1.200	%		6/3/27		16,140,000		14,334,675
Amazon.com Inc., Senior Notes		3.150	%		8/22/27		15,280,000		14,727,911
Amazon.com Inc., Senior Notes		3.450	%		4/13/29		10,310,000		9,925,177
Amazon.com Inc., Senior Notes		1.500	%		6/3/30		10,213,000		8,495,059
Amazon.com Inc., Senior Notes		2.100	%		5/12/31		9,530,000		8,150,167
Amazon.com Inc., Senior Notes		3.600	%		4/13/32		37,160,000		35,322,166
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		6,800,000		6,334,000

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         7

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Broadline Retail - (continued)
Amazon.com Inc., Senior Notes		4.950	%		12/5/44		10,095,000	$	10,415,716
Amazon.com Inc., Senior Notes		4.050	%		8/22/47		8,290,000		7,531,677
Amazon.com Inc., Senior Notes		2.500	%		6/3/50		16,950,000		11,503,167
Amazon.com Inc., Senior Notes		3.100	%		5/12/51		10,000,000		7,585,239
Amazon.com Inc., Senior Notes		4.250	%		8/22/57		3,240,000		2,956,035
Prosus NV, Senior Notes		3.061	%		7/13/31		68,670,000		54,155,148	(a)
Prosus NV, Senior Notes		4.027	%		8/3/50		24,470,000		16,113,165	(a)
Prosus NV, Senior Notes		3.832	%		2/8/51		3,740,000		2,404,607	(a)
Total Broadline Retail									230,492,707
Diversified Consumer Services - 0.0%††
Service Corp. International, Senior Notes		7.500	%		4/1/27		3,167,000		3,285,103
Hotels, Restaurants & Leisure - 1.3%
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		5.750	%		4/15/25		1,225,000		1,230,635	(a)
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.875	%		1/15/28		3,060,000		2,848,768	(a)
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.500	%		2/15/29		3,010,000		2,697,833	(a)
GLP Capital LP/GLP Financing II Inc., Senior Notes		5.250	%		6/1/25		320,000		312,805
GLP Capital LP/GLP Financing II Inc., Senior Notes		5.375	%		4/15/26		1,996,000		1,938,923
Hilton Domestic Operating Co. Inc., Senior Notes		5.375	%		5/1/25		10,770,000		10,776,731	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		5.750	%		5/1/28		4,400,000		4,403,960	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		3.625	%		2/15/32		3,130,000		2,643,755	(a)
Las Vegas Sands Corp., Senior Notes		3.200	%		8/8/24		65,810,000		63,707,850
Las Vegas Sands Corp., Senior Notes		2.900	%		6/25/25		23,330,000		22,182,926
Las Vegas Sands Corp., Senior Notes		3.500	%		8/18/26		1,000,000		934,252
McDonald’s Corp., Senior Notes		3.375	%		5/26/25		1,719,000		1,680,842
McDonald’s Corp., Senior Notes		3.300	%		7/1/25		9,140,000		8,955,838
McDonald’s Corp., Senior Notes		1.450	%		9/1/25		2,140,000		1,993,869
McDonald’s Corp., Senior Notes		3.700	%		1/30/26		11,725,000		11,531,459
McDonald’s Corp., Senior Notes		3.500	%		3/1/27		12,680,000		12,300,367

See Notes to Schedule of Investments.

    8     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Hotels, Restaurants & Leisure - (continued)
McDonald’s Corp., Senior Notes		3.500	%		7/1/27		8,380,000	$	8,121,590
McDonald’s Corp., Senior Notes		3.800	%		4/1/28		4,300,000		4,222,583
McDonald’s Corp., Senior Notes		3.600	%		7/1/30		9,300,000		8,827,356
McDonald’s Corp., Senior Notes		3.625	%		9/1/49		1,610,000		1,291,682
McDonald’s Corp., Senior Notes		4.200	%		4/1/50		22,460,000		19,834,077
Sands China Ltd., Senior Notes		5.625	%		8/8/25		51,746,000		50,480,345
Sands China Ltd., Senior Notes		4.300	%		1/8/26		7,500,000		7,048,402
Sands China Ltd., Senior Notes		2.800	%		3/8/27		18,910,000		16,238,656
Sands China Ltd., Senior Notes		5.900	%		8/8/28		10,270,000		9,757,748
Sands China Ltd., Senior Notes		3.350	%		3/8/29		14,360,000		11,940,103
Sands China Ltd., Senior Notes		3.750	%		8/8/31		10,910,000		8,772,686
VOC Escrow Ltd., Senior Secured Notes		5.000	%		2/15/28		9,225,000		8,197,750	(a)
Wynn Macau Ltd., Senior Notes		4.875	%		10/1/24		2,000,000		1,942,510	(a)
Wynn Macau Ltd., Senior Notes		5.500	%		1/15/26		10,691,000		9,928,678	(a)
Wynn Macau Ltd., Senior Notes		5.625	%		8/26/28		21,370,000		18,199,111	(a)
Wynn Macau Ltd., Senior Notes		5.125	%		12/15/29		790,000		647,962	(a)
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes		5.125	%		10/1/29		480,000		436,558	(a)
Wynn Resorts Finance LLC/Wynn Resorts Capital Corp., Senior Notes		7.125	%		2/15/31		8,690,000		8,822,696	(a)
Total Hotels, Restaurants & Leisure									344,851,306
Household Durables - 0.1%
Lennar Corp., Senior Notes		4.500	%		4/30/24		4,650,000		4,595,703
Lennar Corp., Senior Notes		4.750	%		5/30/25		1,350,000		1,330,849
Lennar Corp., Senior Notes		5.000	%		6/15/27		20,000		19,934
Lennar Corp., Senior Notes		4.750	%		11/29/27		6,200,000		6,141,148
MDC Holdings Inc., Senior Notes		6.000	%		1/15/43		540,000		469,962
Toll Brothers Finance Corp., Senior Notes		4.375	%		4/15/23		4,740,000		4,739,371
Total Household Durables									17,296,967
Specialty Retail - 0.2%
Home Depot Inc., Senior Notes		2.500	%		4/15/27		8,648,000		8,121,835
Home Depot Inc., Senior Notes		3.900	%		12/6/28		1,590,000		1,567,138
Home Depot Inc., Senior Notes		2.700	%		4/15/30		9,310,000		8,409,965
Home Depot Inc., Senior Notes		3.300	%		4/15/40		10,560,000		8,789,859
Home Depot Inc., Senior Notes		3.900	%		6/15/47		1,736,000		1,494,861

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         9

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Specialty Retail - (continued)
Home Depot Inc., Senior Notes		3.350	%		4/15/50		23,325,000	$	18,080,311
Lowe’s Cos. Inc., Senior Notes		4.500	%		4/15/30		5,940,000		5,872,708
Total Specialty Retail									52,336,677
Textiles, Apparel & Luxury Goods - 0.2%
Hanesbrands Inc., Senior Notes		4.875	%		5/15/26		4,810,000		4,563,343	(a)
NIKE Inc., Senior Notes		2.400	%		3/27/25		7,830,000		7,581,225
NIKE Inc., Senior Notes		2.750	%		3/27/27		12,570,000		11,929,403
NIKE Inc., Senior Notes		2.850	%		3/27/30		12,240,000		11,256,900
NIKE Inc., Senior Notes		3.250	%		3/27/40		6,300,000		5,319,445
NIKE Inc., Senior Notes		3.375	%		3/27/50		15,332,000		12,654,479
Total Textiles, Apparel & Luxury Goods									53,304,795
TOTAL CONSUMER DISCRETIONARY									974,640,664
CONSUMER STAPLES - 2.2%
Beverages - 0.8%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.650	%		2/1/26		37,240,000		36,574,525
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		22,020,000		21,547,529
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.000	%		4/13/28		8,060,000		7,973,749
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		16,360,000		16,716,365
Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.500	%		6/1/30		5,700,000		5,377,648
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.350	%		6/1/40		17,580,000		16,343,434
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.600	%		4/15/48		1,706,000		1,611,711
Anheuser-Busch InBev Worldwide Inc., Senior Notes		5.550	%		1/23/49		5,670,000		6,087,691
Coca-Cola Co., Senior Notes		3.375	%		3/25/27		7,590,000		7,468,472
Coca-Cola Co., Senior Notes		1.450	%		6/1/27		15,310,000		13,908,070
Coca-Cola Co., Senior Notes		2.500	%		6/1/40		3,050,000		2,343,220
Coca-Cola Co., Senior Notes		2.600	%		6/1/50		6,290,000		4,512,579
Constellation Brands Inc., Senior Notes		3.600	%		5/9/24		7,860,000		7,760,652
Constellation Brands Inc., Senior Notes		4.350	%		5/9/27		10,970,000		10,827,071

See Notes to Schedule of Investments.

    10     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Beverages - (continued)
Molson Coors Beverage Co., Senior Notes		3.000	%		7/15/26		3,245,000	$	3,066,328
Molson Coors Beverage Co., Senior Notes		4.200	%		7/15/46		3,390,000		2,775,850
PepsiCo Inc., Senior Notes		0.750	%		5/1/23		16,050,000		15,996,934
PepsiCo Inc., Senior Notes		2.250	%		3/19/25		1,580,000		1,525,572
PepsiCo Inc., Senior Notes		2.625	%		3/19/27		1,617,000		1,529,237
PepsiCo Inc., Senior Notes		1.625	%		5/1/30		13,210,000		11,185,821
PepsiCo Inc., Senior Notes		2.875	%		10/15/49		4,750,000		3,618,628
Total Beverages									198,751,086
Consumer Staples Distribution & Retail - 0.2%
Costco Wholesale Corp., Senior Notes		1.375	%		6/20/27		24,175,000		21,688,667
Costco Wholesale Corp., Senior Notes		1.600	%		4/20/30		13,630,000		11,578,431
Target Corp., Senior Notes		2.250	%		4/15/25		13,960,000		13,418,433
Walmart Inc., Senior Notes		1.500	%		9/22/28		8,480,000		7,427,506
Walmart Inc., Senior Notes		1.800	%		9/22/31		4,050,000		3,427,892
Total Consumer Staples Distribution & Retail									57,540,929
Food Products - 0.4%
Danone SA, Senior Notes		2.589	%		11/2/23		20,650,000		20,338,945	(a)
Danone SA, Senior Notes		2.947	%		11/2/26		6,540,000		6,183,152	(a)
Hershey Co., Senior Notes		0.900	%		6/1/25		4,030,000		3,723,348
Kraft Heinz Foods Co., Senior Notes		3.000	%		6/1/26		4,248,000		4,060,618
Kraft Heinz Foods Co., Senior Notes		4.250	%		3/1/31		3,350,000		3,243,778
Kraft Heinz Foods Co., Senior Notes		6.750	%		3/15/32		410,000		459,347
Kraft Heinz Foods Co., Senior Notes		5.000	%		7/15/35		1,661,000		1,663,748
Kraft Heinz Foods Co., Senior Notes		6.875	%		1/26/39		1,150,000		1,304,367
Kraft Heinz Foods Co., Senior Notes		7.125	%		8/1/39		290,000		331,965	(a)
Kraft Heinz Foods Co., Senior Notes		4.625	%		10/1/39		290,000		266,134
Kraft Heinz Foods Co., Senior Notes		5.000	%		6/4/42		4,160,000		3,993,406
Kraft Heinz Foods Co., Senior Notes		5.200	%		7/15/45		12,350,000		11,985,784
Kraft Heinz Foods Co., Senior Notes		4.375	%		6/1/46		5,420,000		4,726,702
Kraft Heinz Foods Co., Senior Notes		4.875	%		10/1/49		8,180,000		7,609,099
Kraft Heinz Foods Co., Senior Notes		5.500	%		6/1/50		6,530,000		6,617,832
Mars Inc., Senior Notes		2.700	%		4/1/25		9,380,000		9,029,826	(a)
Mars Inc., Senior Notes		3.200	%		4/1/30		4,880,000		4,497,794	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         11

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food Products - (continued)
Mars Inc., Senior Notes		2.375	%		7/16/40		6,740,000	$	4,871,076	(a)
Mondelez International Inc., Senior Notes		1.500	%		5/4/25		22,350,000		20,929,198
Total Food Products									115,836,119
Household Products - 0.0%††
Procter & Gamble Co., Senior Notes		2.800	%		3/25/27		2,490,000		2,376,110
Procter & Gamble Co., Senior Notes		3.000	%		3/25/30		6,070,000		5,696,290
Total Household Products									8,072,400
Personal Care Products - 0.2%
Haleon US Capital LLC, Senior Notes		3.375	%		3/24/27		12,990,000		12,325,241
Haleon US Capital LLC, Senior Notes		3.375	%		3/24/29		9,790,000		9,036,524
Haleon US Capital LLC, Senior Notes		3.625	%		3/24/32		13,520,000		12,286,314
Kenvue Inc., Senior Notes		4.900	%		3/22/33		20,920,000		21,622,637	(a)
Total Personal Care Products									55,270,716
Tobacco - 0.6%
Altria Group Inc., Senior Notes		2.350	%		5/6/25		3,770,000		3,581,292
Altria Group Inc., Senior Notes		4.400	%		2/14/26		16,715,000		16,595,974
Altria Group Inc., Senior Notes		4.800	%		2/14/29		975,000		967,863
Altria Group Inc., Senior Notes		2.450	%		2/4/32		16,140,000		12,717,281
Altria Group Inc., Senior Notes		5.800	%		2/14/39		13,440,000		13,141,560
Altria Group Inc., Senior Notes		3.875	%		9/16/46		6,950,000		5,010,228
Altria Group Inc., Senior Notes		5.950	%		2/14/49		19,060,000		18,060,870
Altria Group Inc., Senior Notes		3.700	%		2/4/51		7,880,000		5,326,902
Altria Group Inc., Senior Notes		6.200	%		2/14/59		1,842,000		1,806,747
BAT Capital Corp., Senior Notes		3.557	%		8/15/27		15,851,000		14,745,896
BAT Capital Corp., Senior Notes		4.540	%		8/15/47		39,905,000		29,770,169
Cargill Inc., Senior Notes		1.375	%		7/23/23		13,510,000		13,347,910	(a)
Philip Morris International Inc., Senior Notes		1.125	%		5/1/23		8,220,000		8,194,790
Philip Morris International Inc., Senior Notes		2.100	%		5/1/30		9,050,000		7,527,034
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		3,085,000		2,686,363
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		7,579,000		6,844,008
Total Tobacco									160,324,887
TOTAL CONSUMER STAPLES									595,796,137

See Notes to Schedule of Investments.

    12     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
ENERGY - 6.4%
Energy Equipment & Services - 0.0%††
Halliburton Co., Senior Notes		3.800	%		11/15/25		326,000	$	319,603
Halliburton Co., Senior Notes		4.850	%		11/15/35		5,090,000		4,896,763
Halliburton Co., Senior Notes		5.000	%		11/15/45		6,490,000		5,914,411
Total Energy Equipment & Services									11,130,777
Oil, Gas & Consumable Fuels - 6.4%
Apache Corp., Senior Notes		7.750	%		12/15/29		5,170,000		5,445,095
Apache Corp., Senior Notes		4.250	%		1/15/30		10,000		9,135
Apache Corp., Senior Notes		6.000	%		1/15/37		1,006,000		936,918
Apache Corp., Senior Notes		5.100	%		9/1/40		12,719,000		10,798,749
Apache Corp., Senior Notes		5.250	%		2/1/42		1,646,000		1,384,599
Apache Corp., Senior Notes		4.750	%		4/15/43		10,830,000		8,146,290
Apache Corp., Senior Notes		4.250	%		1/15/44		18,548,000		13,628,578
Apache Corp., Senior Notes		5.350	%		7/1/49		12,190,000		9,438,028
BP Capital Markets America Inc., Senior Notes		3.410	%		2/11/26		17,380,000		16,946,044
BP Capital Markets America Inc., Senior Notes		3.119	%		5/4/26		4,790,000		4,612,029
BP Capital Markets America Inc., Senior Notes		3.588	%		4/14/27		7,160,000		6,934,919
BP Capital Markets America Inc., Senior Notes		3.633	%		4/6/30		9,240,000		8,773,514
BP Capital Markets America Inc., Senior Notes		1.749	%		8/10/30		5,000,000		4,139,911
BP Capital Markets America Inc., Senior Notes		3.000	%		2/24/50		18,090,000		12,831,394
BP Capital Markets America Inc., Senior Notes		2.772	%		11/10/50		1,860,000		1,261,549
BP Capital Markets America Inc., Senior Notes		2.939	%		6/4/51		1,140,000		792,099
Cameron LNG LLC, Senior Secured Notes		2.902	%		7/15/31		7,790,000		6,933,629	(a)
Cameron LNG LLC, Senior Secured Notes		3.302	%		1/15/35		17,811,000		15,344,989	(a)
Cheniere Energy Inc., Senior Notes		4.625	%		10/15/28		8,500,000		8,087,240
Cheniere Energy Partners LP, Senior Notes		4.000	%		3/1/31		3,721,000		3,315,337
Cheniere Energy Partners LP, Senior Notes		3.250	%		1/31/32		19,660,000		16,260,589
Chevron Corp., Senior Notes		1.554	%		5/11/25		15,860,000		14,962,828

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         13

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Chevron Corp., Senior Notes		2.954	%		5/16/26		4,000	$	3,854
Chevron Corp., Senior Notes		1.995	%		5/11/27		5,740,000		5,260,320
Chevron Corp., Senior Notes		2.236	%		5/11/30		70,000		61,923
Chevron Corp., Senior Notes		3.078	%		5/11/50		7,800,000		5,915,660
Chevron USA Inc., Senior Notes		3.850	%		1/15/28		19,795,000		19,552,786
Chord Energy Corp., Senior Notes		6.375	%		6/1/26		2,500,000		2,479,213	(a)
Conoco Funding Co., Senior Notes		7.250	%		10/15/31		810,000		944,652
ConocoPhillips, Senior Notes		5.900	%		10/15/32		10,000		11,104
ConocoPhillips, Senior Notes		6.500	%		2/1/39		40,000		46,536
ConocoPhillips Co., Senior Notes		6.950	%		4/15/29		693,000		780,964
Continental Resources Inc., Senior Notes		4.500	%		4/15/23		9,038,000		9,026,824
Continental Resources Inc., Senior Notes		3.800	%		6/1/24		2,504,000		2,454,995
Continental Resources Inc., Senior Notes		2.268	%		11/15/26		7,190,000		6,392,059	(a)
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		18,789,000		17,723,526
Continental Resources Inc., Senior Notes		5.750	%		1/15/31		11,559,000		11,115,362	(a)
Continental Resources Inc., Senior Notes		4.900	%		6/1/44		9,511,000		7,375,144
Coterra Energy Inc., Senior Notes		3.900	%		5/15/27		29,539,000		28,212,663
Coterra Energy Inc., Senior Notes		4.375	%		3/15/29		24,949,000		23,746,334
Devon Energy Corp., Senior Notes		8.250	%		8/1/23		1,440,000		1,446,211
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		12,076,000		12,277,102
Devon Energy Corp., Senior Notes		5.250	%		10/15/27		1,248,000		1,248,817
Devon Energy Corp., Senior Notes		5.875	%		6/15/28		1,124,000		1,145,563
Devon Energy Corp., Senior Notes		4.500	%		1/15/30		1,595,000		1,524,815
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		9,920,000		9,516,274
Devon Energy Corp., Senior Notes		4.750	%		5/15/42		13,677,000		11,924,445
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		41,600,000		37,034,271
Diamondback Energy Inc., Senior Notes		3.250	%		12/1/26		430,000		407,696
Diamondback Energy Inc., Senior Notes		3.500	%		12/1/29		15,489,000		14,171,240
Diamondback Energy Inc., Senior Notes		4.400	%		3/24/51		11,042,000		8,905,046
Ecopetrol SA, Senior Notes		4.625	%		11/2/31		14,620,000		11,261,621
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		41,210,000		28,640,950

See Notes to Schedule of Investments.

    14     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Energy Transfer LP, Junior Subordinated Notes (3 mo. USD LIBOR + 4.028%)		8.892	%		4/17/23		3,394,000	$	3,022,851	(b)(c)
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		13,375,000		11,803,437	(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		13,141,147	(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		21,862,000		18,440,597	(b)(c)
Energy Transfer LP, Senior Notes		7.600	%		2/1/24		3,892,000		3,929,935
Energy Transfer LP, Senior Notes		2.900	%		5/15/25		11,430,000		10,898,512
Energy Transfer LP, Senior Notes		4.950	%		6/15/28		4,888,000		4,858,271
Energy Transfer LP, Senior Notes		5.250	%		4/15/29		4,100,000		4,088,263
Energy Transfer LP, Senior Notes		3.750	%		5/15/30		33,330,000		30,786,734
Energy Transfer LP, Senior Notes		6.500	%		2/1/42		3,300,000		3,428,527
Energy Transfer LP, Senior Notes		6.100	%		2/15/42		2,000,000		1,960,858
Energy Transfer LP, Senior Notes		5.300	%		4/1/44		1,170,000		1,037,315
Energy Transfer LP, Senior Notes		5.350	%		5/15/45		2,000,000		1,771,687
Energy Transfer LP, Senior Notes		5.300	%		4/15/47		10,000,000		8,781,074
Energy Transfer LP, Senior Notes		5.400	%		10/1/47		16,733,000		14,898,589
Energy Transfer LP, Senior Notes		6.250	%		4/15/49		20,000,000		19,852,143
Energy Transfer LP, Senior Notes		5.000	%		5/15/50		4,660,000		3,984,706
Energy Transfer LP/Regency Energy Finance Corp., Senior Notes		4.500	%		11/1/23		510,000		505,674
Enterprise Products Operating LLC, Senior Notes		4.150	%		10/16/28		24,093,000		23,437,562
Enterprise Products Operating LLC, Senior Notes		3.125	%		7/31/29		8,650,000		7,930,942
Enterprise Products Operating LLC, Senior Notes		2.800	%		1/31/30		27,967,000		24,821,394
Enterprise Products Operating LLC, Senior Notes		7.550	%		4/15/38		1,030,000		1,208,807
Enterprise Products Operating LLC, Senior Notes		4.850	%		3/15/44		970,000		901,442

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         15

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Enterprise Products Operating LLC, Senior Notes		4.250	%		2/15/48		6,633,000	$	5,658,833
Enterprise Products Operating LLC, Senior Notes		4.800	%		2/1/49		1,680,000		1,543,076
Enterprise Products Operating LLC, Senior Notes		4.200	%		1/31/50		3,370,000		2,862,831
Enterprise Products Operating LLC, Senior Notes		3.700	%		1/31/51		21,477,000		16,653,654
Enterprise Products Operating LLC, Senior Notes		3.950	%		1/31/60		6,940,000		5,456,075
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		3,997,768	(c)
EOG Resources Inc., Senior Notes		4.150	%		1/15/26		6,442,000		6,383,517
EOG Resources Inc., Senior Notes		4.375	%		4/15/30		3,690,000		3,680,003
EOG Resources Inc., Senior Notes		3.900	%		4/1/35		12,960,000		11,902,310
EOG Resources Inc., Senior Notes		4.950	%		4/15/50		19,990,000		20,173,131
EQM Midstream Partners LP, Senior Notes		5.500	%		7/15/28		1,280,000		1,164,237
EQT Corp., Senior Notes		6.125	%		2/1/25		1,230,000		1,238,545
EQT Corp., Senior Notes		3.125	%		5/15/26		600,000		555,510	(a)
EQT Corp., Senior Notes		3.900	%		10/1/27		28,139,000		26,476,407
EQT Corp., Senior Notes		5.000	%		1/15/29		10,428,000		9,900,851
EQT Corp., Senior Notes		3.625	%		5/15/31		12,373,000		10,736,526	(a)
Exxon Mobil Corp., Senior Notes		3.043	%		3/1/26		11,540,000		11,207,271
Exxon Mobil Corp., Senior Notes		3.482	%		3/19/30		13,120,000		12,550,112
Exxon Mobil Corp., Senior Notes		4.227	%		3/19/40		3,000,000		2,812,770
Exxon Mobil Corp., Senior Notes		4.114	%		3/1/46		22,720,000		20,518,036
Exxon Mobil Corp., Senior Notes		4.327	%		3/19/50		4,800,000		4,439,102
Exxon Mobil Corp., Senior Notes		3.452	%		4/15/51		6,000,000		4,785,933
KazMunayGas National Co. JSC, Senior Notes		5.375	%		4/24/30		9,050,000		8,093,842	(a)
KazMunayGas National Co. JSC, Senior Notes		6.375	%		10/24/48		12,310,000		10,271,464	(a)
Kinder Morgan Energy Partners LP, Senior Notes		7.300	%		8/15/33		1,497,000		1,676,736
Kinder Morgan Energy Partners LP, Senior Notes		6.550	%		9/15/40		1,450,000		1,493,900
Kinder Morgan Energy Partners LP, Senior Notes		6.375	%		3/1/41		1,720,000		1,779,868

See Notes to Schedule of Investments.

    16     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

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	$	1,186,315
Kinder Morgan Energy Partners LP, Senior Notes		5.400	%		9/1/44		680,000		631,427
Kinder Morgan Inc., Senior Notes		4.300	%		6/1/25		2,820,000		2,778,803
Kinder Morgan Inc., Senior Notes		4.300	%		3/1/28		2,190,000		2,153,379
Kinder Morgan Inc., Senior Notes		7.800	%		8/1/31		3,276,000		3,754,916
Kinder Morgan Inc., Senior Notes		5.550	%		6/1/45		12,860,000		12,185,486
Kinder Morgan Inc., Senior Notes		5.050	%		2/15/46		4,650,000		4,108,608
Kinder Morgan Inc., Senior Notes		5.200	%		3/1/48		8,770,000		7,865,639
MPLX LP, Senior Notes		4.875	%		12/1/24		9,800,000		9,743,204
MPLX LP, Senior Notes		4.875	%		6/1/25		7,870,000		7,816,637
MPLX LP, Senior Notes		4.800	%		2/15/29		8,850,000		8,775,749
MPLX LP, Senior Notes		4.500	%		4/15/38		11,800,000		10,499,186
MPLX LP, Senior Notes		5.200	%		3/1/47		5,570,000		4,998,311
MPLX LP, Senior Notes		4.700	%		4/15/48		12,450,000		10,474,226
MPLX LP, Senior Notes		5.500	%		2/15/49		8,066,000		7,516,884
Occidental Petroleum Corp., Senior Notes		6.950	%		7/1/24		1,441,000		1,460,439
Occidental Petroleum Corp., Senior Notes		5.550	%		3/15/26		11,940,000		12,041,132
Occidental Petroleum Corp., Senior Notes		3.400	%		4/15/26		9,455,000		8,900,417
Occidental Petroleum Corp., Senior Notes		3.200	%		8/15/26		19,417,000		17,946,250
Occidental Petroleum Corp., Senior Notes		3.000	%		2/15/27		6,900,000		6,326,610
Occidental Petroleum Corp., Senior Notes		3.500	%		8/15/29		60,000		54,452
Occidental Petroleum Corp., Senior Notes		6.625	%		9/1/30		17,260,000		18,193,507
Occidental Petroleum Corp., Senior Notes		7.500	%		5/1/31		14,340,000		15,831,217
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		4,792,000		5,387,190
Occidental Petroleum Corp., Senior Notes		6.450	%		9/15/36		23,185,000		24,402,212
Occidental Petroleum Corp., Senior Notes		4.500	%		7/15/44		6,250,000		5,025,969

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         17

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Occidental Petroleum Corp., Senior Notes		4.625	%		6/15/45		16,480,000	$	13,226,043
Occidental Petroleum Corp., Senior Notes		6.600	%		3/15/46		27,550,000		28,996,375
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		9,750,000		7,741,841
Occidental Petroleum Corp., Senior Notes		4.100	%		2/15/47		29,575,000		22,576,291
Occidental Petroleum Corp., Senior Notes		4.200	%		3/15/48		20,750,000		16,113,101
Parsley Energy LLC/Parsley Finance Corp., Senior Notes		4.125	%		2/15/28		2,070,000		1,949,021	(a)
Petrobras Global Finance BV, Senior Notes		6.250	%		3/17/24		11,759,000		11,785,535
Petrobras Global Finance BV, Senior Notes		5.299	%		1/27/25		92,550,000		91,763,885
Petrobras Global Finance BV, Senior Notes		7.250	%		3/17/44		17,865,000		17,294,548
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		2,350,000		2,233,193
Petroleos Mexicanos, Senior Notes		5.500	%		6/27/44		3,860,000		2,275,914
Petroleos Mexicanos, Senior Notes		6.375	%		1/23/45		14,210,000		8,987,492
Petroleos Mexicanos, Senior Notes		6.750	%		9/21/47		14,490,000		9,430,250
Pioneer Natural Resources Co., Senior Notes		1.125	%		1/15/26		3,620,000		3,291,793
Pioneer Natural Resources Co., Senior Notes		2.150	%		1/15/31		15,860,000		13,035,102
Range Resources Corp., Senior Notes		4.875	%		5/15/25		5,160,000		5,064,502
Reliance Industries Ltd., Senior Notes		2.875	%		1/12/32		10,420,000		8,669,551	(a)
Reliance Industries Ltd., Senior Notes		3.625	%		1/12/52		31,080,000		22,006,132	(a)
Sabine Pass Liquefaction LLC, Senior Secured Notes		5.750	%		5/15/24		2,870,000		2,877,587
Schlumberger Holdings Corp., Senior Notes		3.900	%		5/17/28		5,110,000		4,917,163	(a)
Shell International Finance BV, Senior Notes		2.750	%		4/6/30		14,090,000		12,858,423
Shell International Finance BV, Senior Notes		6.375	%		12/15/38		4,655,000		5,380,008

See Notes to Schedule of Investments.

    18     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Shell International Finance BV, Senior Notes		4.550	%		8/12/43		6,360,000	$	6,024,183
Shell International Finance BV, Senior Notes		4.375	%		5/11/45		13,770,000		12,723,880
Shell International Finance BV, Senior Notes		4.000	%		5/10/46		8,940,000		7,824,721
Shell International Finance BV, Senior Notes		3.750	%		9/12/46		690,000		583,703
Shell International Finance BV, Senior Notes		3.250	%		4/6/50		23,710,000		18,114,225
Sinopec Group Overseas Development 2014 Ltd., Senior Notes		4.375	%		4/10/24		17,660,000		17,556,512	(a)
Sinopec Group Overseas Development 2015 Ltd., Senior Notes		3.250	%		4/28/25		6,000,000		5,818,837	(a)
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32		9,413,000		10,971,938
Southwestern Energy Co., Senior Notes		5.375	%		2/1/29		920,000		868,163
Southwestern Energy Co., Senior Notes		5.375	%		3/15/30		3,790,000		3,567,603
Southwestern Energy Co., Senior Notes		4.750	%		2/1/32		5,520,000		4,882,163
Tallgrass Energy Partners LP/Tallgrass Energy Finance Corp., Senior Notes		6.000	%		12/31/30		830,000		742,854	(a)
Targa Resources Corp., Senior Notes		5.200	%		7/1/27		11,950,000		11,858,501
Targa Resources Corp., Senior Notes		4.950	%		4/15/52		5,220,000		4,338,162
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.500	%		7/15/27		4,230,000		4,316,606
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.000	%		1/15/28		3,930,000		3,803,728
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		6.875	%		1/15/29		2,120,000		2,162,789
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.875	%		2/1/31		15,845,000		14,842,719

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         19

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.000	%		1/15/32		1,520,000	$	1,326,436
Tennessee Gas Pipeline Co. LLC, Senior Notes		2.900	%		3/1/30		16,960,000		14,709,892	(a)
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.850	%		2/1/26		34,600,000		37,083,815
Venture Global Calcasieu Pass LLC, Senior Secured Notes		3.875	%		11/1/33		10,180,000		8,562,856	(a)
Western Midstream Operating LP, Senior Notes		3.350	%		2/1/25		9,840,000		9,406,105
Western Midstream Operating LP, Senior Notes		4.500	%		3/1/28		2,363,000		2,237,726
Western Midstream Operating LP, Senior Notes		4.300	%		2/1/30		42,385,000		38,623,331
Western Midstream Operating LP, Senior Notes		5.300	%		3/1/48		1,170,000		993,155
Western Midstream Operating LP, Senior Notes		5.500	%		8/15/48		2,700,000		2,329,061
Western Midstream Operating LP, Senior Notes		5.500	%		2/1/50		6,340,000		5,389,000
Williams Cos. Inc., Senior Notes		4.550	%		6/24/24		1,790,000		1,777,467
Williams Cos. Inc., Senior Notes		3.750	%		6/15/27		5,450,000		5,233,166
Williams Cos. Inc., Senior Notes		3.500	%		11/15/30		5,920,000		5,366,313
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		4,249,000		4,736,808
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		6,418,000		7,190,620
Williams Cos. Inc., Senior Notes		8.750	%		3/15/32		3,035,000		3,652,550
Williams Cos. Inc., Senior Notes		5.750	%		6/24/44		900,000		881,910
Williams Cos. Inc., Senior Notes		5.100	%		9/15/45		4,000,000		3,666,123
Williams Cos. Inc., Senior Notes		4.850	%		3/1/48		6,529,000		5,789,894
Total Oil, Gas & Consumable Fuels									1,687,583,638
TOTAL ENERGY									1,698,714,415
FINANCIALS - 12.7%
Banks - 8.9%
ABN AMRO Bank NV, Subordinated Notes		4.750	%		7/28/25		8,210,000		7,932,419	(a)
BAC Capital Trust XIV, Junior Subordinated Notes (3 mo. USD LIBOR + 0.400%, 4.000% floor)		5.266	%		4/17/23		7,226,000		5,403,601	(b)(c)
Banco Santander SA, Senior Notes		3.848	%		4/12/23		8,600,000		8,596,348

See Notes to Schedule of Investments.

    20     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Banco Santander SA, Senior Notes		2.746	%		5/28/25		43,500,000	$	41,059,700
Banco Santander SA, Senior Notes (3 mo. USD LIBOR + 1.120%)		5.926	%		4/12/23		6,200,000		6,200,022	(c)
Banco Santander SA, Senior Notes (4.175% to 3/24/27 then 1 year Treasury Constant Maturity Rate + 2.000%)		4.175	%		3/24/28		1,800,000		1,691,466	(c)
Bank of America Corp., Senior Notes		4.125	%		1/22/24		230,000		228,245
Bank of America Corp., Senior Notes		4.000	%		4/1/24		13,890,000		13,738,209
Bank of America Corp., Senior Notes		3.500	%		4/19/26		16,160,000		15,546,337
Bank of America Corp., Senior Notes		5.000	%		1/21/44		33,160,000		31,900,058
Bank of America Corp., Senior Notes (1.319% to 6/19/25 then SOFR + 1.150%)		1.319	%		6/19/26		33,540,000		30,684,126	(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		5,617,915	(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		23,542,263	(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		20,491,336	(c)
Bank of America Corp., Senior Notes (2.687% to 4/22/31 then SOFR + 1.320%)		2.687	%		4/22/32		20,000,000		16,702,904	(c)
Bank of America Corp., Senior Notes (2.972% to 2/4/32 then SOFR + 1.330%)		2.972	%		2/4/33		7,180,000		6,051,022	(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		25,275,788	(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		6,799,968	(c)
Bank of America Corp., Senior Notes (3.841% to 4/25/24 then SOFR + 1.110%)		3.841	%		4/25/25		14,670,000		14,407,997	(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		81,283,569	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         21

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
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	$	7,606,507	(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		27,790,000		22,879,471	(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		6,331,613	(c)
Bank of America Corp., Senior Notes (4.376% to 4/27/27 then SOFR + 1.580%)		4.376	%		4/27/28		10,830,000		10,484,628	(c)
Bank of America Corp., Senior Notes (4.571% to 4/27/32 then SOFR + 1.830%)		4.571	%		4/27/33		30,080,000		28,655,586	(c)
Bank of America Corp., Subordinated Notes		4.200	%		8/26/24		14,080,000		13,841,890
Bank of America Corp., Subordinated Notes		4.000	%		1/22/25		4,300,000		4,204,314
Bank of America Corp., Subordinated Notes		4.450	%		3/3/26		3,050,000		2,981,215
Bank of America Corp., Subordinated Notes		4.250	%		10/22/26		14,500,000		14,059,849
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		1,991,562	(c)
Bank of Montreal, Senior Notes		1.850	%		5/1/25		26,710,000		25,026,460
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		3,415,747	(c)
Bank of Nova Scotia, Senior Notes		1.300	%		6/11/25		14,860,000		13,708,970
Bank of Nova Scotia, Subordinated Notes (4.588% to 5/4/32 then 5 year Treasury Constant Maturity Rate + 2.050%)		4.588	%		5/4/37		9,280,000		8,187,907	(c)
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		10,521,778	(c)

See Notes to Schedule of Investments.

    22     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
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	$	60,523,821	(c)
BNP Paribas SA, Senior Notes		3.375	%		1/9/25		6,895,000		6,618,654	(a)
BNP Paribas SA, Senior Notes		4.400	%		8/14/28		46,530,000		44,114,413	(a)
BNP Paribas SA, Senior Notes (2.219% to 6/9/25 then SOFR + 2.074%)		2.219	%		6/9/26		17,970,000		16,517,007	(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		8,335,697	(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		50,475,904	(a)(c)
BNP Paribas SA, Senior Notes (5.125% to 1/13/28 then 1 year Treasury Constant Maturity Rate + 1.450%)		5.125	%		1/13/29		50,290,000		50,432,978	(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		8,772,349	(a)(c)
BNP Paribas SA, Subordinated Notes		4.625	%		3/13/27		3,290,000		3,144,335	(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		5,954,432	(a)(c)
BPCE SA, Subordinated Notes		5.150	%		7/21/24		3,300,000		3,238,318	(a)
Canadian Imperial Bank of Commerce, Senior Notes		0.950	%		6/23/23		15,070,000		14,918,744
Citigroup Inc., Junior Subordinated Notes (5.950% to 1/30/23 then 3 mo. USD LIBOR + 4.068%)		8.870	%		7/30/23		6,050,000		6,019,750	(b)(c)
Citigroup Inc., Junior Subordinated Notes (5.950% to 5/15/25 then 3 mo. Term SOFR + 4.167%)		5.950	%		5/15/25		18,320,000		17,096,143	(b)(c)
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. Term SOFR + 3.685%)		6.300	%		5/15/24		3,700,000		3,528,875	(b)(c)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		2,195,000		2,834,540
Citigroup Inc., Senior Notes		4.650	%		7/30/45		19,812,000		18,051,651
Citigroup Inc., Senior Notes		4.650	%		7/23/48		3,000,000		2,785,336

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         23

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Citigroup Inc., Senior Notes (1.678% to 5/15/23 then SOFR + 1.667%)		1.678	%		5/15/24		15,430,000	$	15,367,461	(c)
Citigroup Inc., Senior Notes (2.561% to 5/1/31 then SOFR + 1.167%)		2.561	%		5/1/32		20,000,000		16,606,255	(c)
Citigroup Inc., Senior Notes (2.572% to 6/3/30 then SOFR + 2.107%)		2.572	%		6/3/31		35,480,000		29,955,471	(c)
Citigroup Inc., Senior Notes (2.666% to 1/29/30 then SOFR + 1.146%)		2.666	%		1/29/31		20,000,000		17,083,945	(c)
Citigroup Inc., Senior Notes (3.106% to 4/8/25 then SOFR + 2.842%)		3.106	%		4/8/26		10,730,000		10,265,545	(c)
Citigroup Inc., Senior Notes (3.520% to 10/27/27 then 3 mo. Term SOFR + 1.413%)		3.520	%		10/27/28		65,050,000		60,855,979	(c)
Citigroup Inc., Senior Notes (3.785% to 3/17/32 then SOFR + 1.939%)		3.785	%		3/17/33		16,030,000		14,384,658	(c)
Citigroup Inc., Senior Notes (3.980% to 3/20/29 then 3 mo. Term SOFR + 1.600%)		3.980	%		3/20/30		7,640,000		7,127,709	(c)
Citigroup Inc., Senior Notes (4.075% to 4/23/28 then 3 mo. Term SOFR + 1.454%)		4.075	%		4/23/29		16,280,000		15,535,988	(c)
Citigroup Inc., Senior Notes (4.412% to 3/31/30 then SOFR + 3.914%)		4.412	%		3/31/31		18,680,000		17,747,457	(c)
Citigroup Inc., Senior Notes (4.658% to 5/24/27 then SOFR + 1.887%)		4.658	%		5/24/28		6,760,000		6,682,690	(c)
Citigroup Inc., Senior Notes (4.910% to 5/24/32 then SOFR + 2.086%)		4.910	%		5/24/33		7,260,000		7,129,865	(c)
Citigroup Inc., Subordinated Notes		4.400	%		6/10/25		19,090,000		18,622,646
Citigroup Inc., Subordinated Notes		5.500	%		9/13/25		25,260,000		25,239,165
Citigroup Inc., Subordinated Notes		4.300	%		11/20/26		11,500,000		11,136,057
Citigroup Inc., Subordinated Notes		4.450	%		9/29/27		36,920,000		35,829,069
Citigroup Inc., Subordinated Notes		6.625	%		6/15/32		1,660,000		1,782,801
Citigroup Inc., Subordinated Notes		6.125	%		8/25/36		133,000		137,531
Citigroup Inc., Subordinated Notes		6.675	%		9/13/43		2,824,000		3,157,191
Citigroup Inc., Subordinated Notes		5.300	%		5/6/44		1,789,000		1,705,571
Citigroup Inc., Subordinated Notes		4.750	%		5/18/46		2,080,000		1,844,895
Cooperatieve Rabobank UA, Senior Notes		4.375	%		8/4/25		32,450,000		31,414,873

See Notes to Schedule of Investments.

    24     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
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	$	30,212,103	(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		13,668,910	(a)(c)
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		10,920,000		9,778,582	(a)(c)
Credit Agricole SA, Senior Notes (1.907% to 6/16/25 then SOFR + 1.676%)		1.907	%		6/16/26		11,750,000		10,796,486	(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		7,782,812	(a)(c)
Danske Bank A/S, Senior Notes		3.875	%		9/12/23		3,510,000		3,480,690	(a)
Danske Bank A/S, Senior Notes		5.375	%		1/12/24		18,650,000		18,482,780	(a)
Danske Bank A/S, Senior Notes (1.226% to 6/22/23 then 1 year Treasury Constant Maturity Rate + 1.000%)		1.226	%		6/22/24		18,620,000		18,386,297	(a)(c)
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		5,111,723	(a)(c)
Danske Bank A/S, Senior Notes (4.298% to 4/1/27 then 1 year Treasury Constant Maturity Rate + 1.750%)		4.298	%		4/1/28		2,500,000		2,362,366	(a)(c)
HSBC Holdings PLC, Senior Notes		4.300	%		3/8/26		1,750,000		1,694,384
HSBC Holdings PLC, Senior Notes		3.900	%		5/25/26		13,485,000		12,809,597
HSBC Holdings PLC, Senior Notes		4.950	%		3/31/30		810,000		795,542
HSBC Holdings PLC, Senior Notes (2.099% to 6/4/25 then SOFR + 1.929%)		2.099	%		6/4/26		25,080,000		23,050,044	(c)
HSBC Holdings PLC, Senior Notes (2.848% to 6/4/30 then SOFR + 2.387%)		2.848	%		6/4/31		19,080,000		16,040,206	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         25

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
HSBC Holdings PLC, Senior Notes (4.041% to 3/13/27 then 3 mo. USD LIBOR + 1.546%)		4.041	%		3/13/28		3,480,000	$	3,267,863	(c)
HSBC Holdings PLC, Subordinated Notes		4.250	%		3/14/24		4,910,000		4,784,089
HSBC Holdings PLC, Subordinated Notes		4.250	%		8/18/25		15,970,000		15,202,094
HSBC Holdings PLC, Subordinated Notes (4.762% to 3/29/32 then SOFR + 2.530%)		4.762	%		3/29/33		22,730,000		20,565,839	(c)
Intesa Sanpaolo SpA, Subordinated Notes		5.017	%		6/26/24		39,180,000		37,656,369	(a)
Intesa Sanpaolo SpA, Subordinated Notes		5.710	%		1/15/26		10,920,000		10,356,852	(a)
JPMorgan Chase & Co., Senior Notes		3.625	%		5/13/24		20,000		19,754
JPMorgan Chase & Co., Senior Notes (1.514% to 6/1/23 then SOFR + 1.455%)		1.514	%		6/1/24		41,130,000		40,872,766	(c)
JPMorgan Chase & Co., Senior Notes (1.953% to 2/4/31 then SOFR + 1.065%)		1.953	%		2/4/32		20,000,000		16,102,721	(c)
JPMorgan Chase & Co., Senior Notes (2.083% to 4/22/25 then SOFR + 1.850%)		2.083	%		4/22/26		24,800,000		23,219,046	(c)
JPMorgan Chase & Co., Senior Notes (2.522% to 4/22/30 then SOFR + 2.040%)		2.522	%		4/22/31		13,760,000		11,771,305	(c)
JPMorgan Chase & Co., Senior Notes (2.545% to 11/8/31 then SOFR + 1.180%)		2.545	%		11/8/32		10,480,000		8,696,331	(c)
JPMorgan Chase & Co., Senior Notes (2.580% to 4/22/31 then SOFR + 1.250%)		2.580	%		4/22/32		9,440,000		7,949,937	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/40 then SOFR + 2.460%)		3.109	%		4/22/41		10,000,000		7,657,090	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/50 then SOFR + 2.440%)		3.109	%		4/22/51		10,560,000		7,497,530	(c)

See Notes to Schedule of Investments.

    26     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
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	$	27,936,688	(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		35,302,567	(c)
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		18,272,618	(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		6,930,417	(c)
JPMorgan Chase & Co., Senior Notes (4.493% to 3/24/30 then SOFR + 3.790%)		4.493	%		3/24/31		15,000,000		14,585,531	(c)
JPMorgan Chase & Co., Subordinated Notes		3.875	%		9/10/24		3,195,000		3,141,981
JPMorgan Chase & Co., Subordinated Notes		4.125	%		12/15/26		14,330,000		14,005,343
JPMorgan Chase & Co., Subordinated Notes		4.250	%		10/1/27		4,050,000		3,987,836
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		10,670,000		10,155,843
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		930,320	(b)(c)
Lloyds Banking Group PLC, Senior Notes		3.900	%		3/12/24		10,560,000		10,356,537
Lloyds Banking Group PLC, Senior Notes		4.375	%		3/22/28		14,100,000		13,396,251
Lloyds Banking Group PLC, Senior Notes		4.550	%		8/16/28		200,000		190,094
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		2,069,422	(c)
Lloyds Banking Group PLC, Subordinated Notes		4.500	%		11/4/24		15,350,000		14,886,307

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         27

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Mitsubishi UFJ Financial Group Inc., Senior Notes (3.837% to 4/17/25 then 1 year Treasury Constant Maturity Rate + 1.125%)		3.837	%		4/17/26		13,100,000	$	12,700,902	(c)
Mitsubishi UFJ Financial Group Inc., Senior Notes (4.080% to 4/19/27 then 1 year Treasury Constant Maturity Rate + 1.300%)		4.080	%		4/19/28		13,490,000		12,927,987	(c)
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		10,514,670	(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		9,952,667	(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		5,237,777	(c)
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		2,919,953	(c)
Royal Bank of Canada, Senior Notes		1.600	%		4/17/23		20,990,000		20,954,613
Royal Bank of Canada, Senior Notes		1.150	%		6/10/25		14,190,000		13,062,477
Royal Bank of Canada, Senior Notes		3.875	%		5/4/32		15,400,000		14,247,079
Santander UK Group Holdings PLC, Subordinated Notes		5.625	%		9/15/45		2,379,000		1,975,546	(a)
Standard Chartered PLC, Subordinated Notes		5.700	%		3/26/44		715,000		660,683	(a)
Swedbank AB, Senior Notes		1.300	%		6/2/23		17,500,000		17,358,351	(a)
Toronto-Dominion Bank, Senior Notes		0.750	%		6/12/23		27,800,000		27,557,635
Toronto-Dominion Bank, Senior Notes		1.150	%		6/12/25		14,120,000		13,003,240
Toronto-Dominion Bank, Senior Notes		4.456	%		6/8/32		10,000,000		9,744,070
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		282,555	(a)(c)
US Bancorp, Senior Notes		1.450	%		5/12/25		30,910,000		28,487,197
Wells Fargo & Co., Senior Notes		3.750	%		1/24/24		8,840,000		8,736,102
Wells Fargo & Co., Senior Notes		3.000	%		10/23/26		29,510,000		27,630,632
Wells Fargo & Co., Senior Notes		4.150	%		1/24/29		23,420,000		22,385,951

See Notes to Schedule of Investments.

    28     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Wells Fargo & Co., Senior Notes (1.654% to 6/2/23 then SOFR + 1.600%)		1.654	%		6/2/24		18,940,000	$	18,819,496	(c)
Wells Fargo & Co., Senior Notes (2.188% to 4/30/25 then SOFR + 2.000%)		2.188	%		4/30/26		22,380,000		20,989,312	(c)
Wells Fargo & Co., Senior Notes (2.393% to 6/2/27 then SOFR + 2.100%)		2.393	%		6/2/28		27,690,000		24,952,223	(c)
Wells Fargo & Co., Senior Notes (2.879% to 10/30/29 then 3mo. Term SOFR + 1.432%)		2.879	%		10/30/30		5,770,000		5,018,064	(c)
Wells Fargo & Co., Senior Notes (3.350% to 3/2/32 then SOFR + 1.500%)		3.350	%		3/2/33		8,490,000		7,365,896	(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		22,101,186	(c)
Wells Fargo & Co., Senior Notes (4.478% to 4/4/30 then SOFR + 4.032%)		4.478	%		4/4/31		15,920,000		15,250,999	(c)
Wells Fargo & Co., Senior Notes (5.013% to 4/4/50 then SOFR + 4.502%)		5.013	%		4/4/51		139,180,000		131,241,286	(c)
Wells Fargo & Co., Subordinated Notes		4.480	%		1/16/24		1,802,000		1,787,310
Wells Fargo & Co., Subordinated Notes		4.300	%		7/22/27		19,620,000		19,029,817
Wells Fargo & Co., Subordinated Notes		5.375	%		11/2/43		8,140,000		7,807,751
Wells Fargo & Co., Subordinated Notes		5.606	%		1/15/44		1,840,000		1,777,411
Wells Fargo & Co., Subordinated Notes		4.650	%		11/4/44		20,450,000		17,673,614
Wells Fargo & Co., Subordinated Notes		4.900	%		11/17/45		16,404,000		14,640,542
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		3,070,000		2,538,500
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		22,515,000		19,604,041
Total Banks									2,367,183,957

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         29

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - 2.7%
Bank of New York Mellon Corp., Senior Notes		1.600	%		4/24/25		8,130,000	$	7,561,688
CME Group Inc., Senior Notes		5.300	%		9/15/43		4,500,000		4,761,120
Credit Suisse AG, Senior Notes		7.950	%		1/9/25		34,910,000		35,530,002
Credit Suisse AG, Senior Notes		2.950	%		4/9/25		13,780,000		12,822,841
Credit Suisse AG, Senior Notes		7.500	%		2/15/28		38,500,000		40,906,250
Credit Suisse Group AG, Junior Subordinated Notes (9.750% to 12/23/27 then 5 year Treasury Constant Maturity Rate + 6.383%)		9.750	%		6/23/27		59,000,000		2,876,250	*(a)(b)(c)(d)
Credit Suisse Group AG, Senior Notes		4.550	%		4/17/26		3,720,000		3,436,350
Credit Suisse Group AG, Senior Notes (2.193% to 6/5/25 then SOFR + 2.044%)		2.193	%		6/5/26		42,045,000		37,533,694	(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		5,990,115	(a)(c)
Credit Suisse Group AG, Senior Notes (3.091% to 5/14/31 then SOFR + 1.730%)		3.091	%		5/14/32		40,670,000		32,799,135	(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		30,154,461	(a)(c)
Credit Suisse Group AG, Senior Notes (9.016% to 11/15/32 then SOFR + 5.020%)		9.016	%		11/15/33		9,360,000		11,114,064	(a)(c)
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		97,500	*(a)(b)(c)(d)
Goldman Sachs Capital II, Junior Subordinated Notes (3 mo. USD LIBOR + 0.768%)		5.730	%		5/1/23		303,000		230,280	(b)(c)
Goldman Sachs Group Inc., Senior Notes		4.000	%		3/3/24		5,100,000		5,029,808
Goldman Sachs Group Inc., Senior Notes		3.850	%		7/8/24		5,410,000		5,304,684
Goldman Sachs Group Inc., Senior Notes		3.500	%		1/23/25		10,000,000		9,721,569

See Notes to Schedule of Investments.

    30     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Goldman Sachs Group Inc., Senior Notes		3.500	%		4/1/25		16,970,000	$	16,487,344
Goldman Sachs Group Inc., Senior Notes		3.500	%		11/16/26		10,633,000		10,164,553
Goldman Sachs Group Inc., Senior Notes		2.600	%		2/7/30		10,000,000		8,589,433
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		14,580,000		16,055,653
Goldman Sachs Group Inc., Senior Notes		4.750	%		10/21/45		9,754,000		9,022,386
Goldman Sachs Group Inc., Senior Notes (2.615% to 4/22/31 then SOFR + 1.281%)		2.615	%		4/22/32		20,000,000		16,672,293	(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		1,653,887	(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		5,623,079	(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		5,483,204	(c)
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		5,461,785	(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		71,817,245	(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		20,761,533	(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		2,336,945	(c)
Goldman Sachs Group Inc., Subordinated Notes		4.250	%		10/21/25		24,160,000		23,463,918
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37		8,640,000		9,359,514
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		15,341,000		14,558,119

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         31

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Intercontinental Exchange Inc., Senior Notes		4.600	%		3/15/33		8,610,000	$	8,563,160
Intercontinental Exchange Inc., Senior Notes		4.950	%		6/15/52		1,690,000		1,657,934
KKR Group Finance Co. II LLC, Senior Notes		5.500	%		2/1/43		1,398,000		1,327,761	(a)
Morgan Stanley, Senior Notes (2.188% to 4/28/25 then SOFR + 1.990%)		2.188	%		4/28/26		34,580,000		32,462,985	(c)
Morgan Stanley, Senior Notes (2.511% to 10/20/31 then SOFR + 1.200%)		2.511	%		10/20/32		2,020,000		1,656,225	(c)
Morgan Stanley, Senior Notes (2.699% to 1/22/30 then SOFR + 1.143%)		2.699	%		1/22/31		26,340,000		22,703,565	(c)
Morgan Stanley, Senior Notes (3.622% to 4/1/30 then SOFR + 3.120%)		3.622	%		4/1/31		32,910,000		30,117,612	(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		33,510,624	(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		1,119,380	(c)
UBS AG, Senior Notes		4.500	%		6/26/48		10,093,000		9,024,153	(a)
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		38,856,928	(a)(b)(c)
UBS Group AG, Senior Notes		4.125	%		9/24/25		4,880,000		4,670,905	(a)
UBS Group AG, Senior Notes		4.253	%		3/23/28		10,530,000		9,786,750	(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		5,726,473	(a)(c)

See Notes to Schedule of Investments.

    32     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
UBS Group AG, Senior Notes (4.488% to 5/12/25 then 1 year Treasury Constant Maturity Rate + 1.550%)		4.488	%		5/12/26		9,390,000	$	9,063,693	(a)(c)
UBS Group AG, Senior Notes (4.751% to 5/12/27 then 1 year Treasury Constant Maturity Rate + 1.750%)		4.751	%		5/12/28		12,160,000		11,676,421	(a)(c)
Total Capital Markets									705,305,271
Consumer Finance - 0.1%
American Express Co., Senior Notes		3.375	%		5/3/24		14,900,000		14,611,850
American Express Co., Senior Notes		4.050	%		5/3/29		22,670,000		22,123,141
Total Consumer Finance									36,734,991
Financial Services - 0.8%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.150	%		2/15/24		18,350,000		17,799,105
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		2.450	%		10/29/26		37,570,000		33,766,149
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.000	%		10/29/28		25,990,000		22,708,781
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.300	%		1/30/32		14,210,000		11,782,818
Ahold Lease USA Inc. Pass-Through-Trust, Senior Secured Notes		8.620	%		1/2/25		392,070		406,492
Berkshire Hathaway Energy Co., Senior Notes		6.125	%		4/1/36		156,000		171,953
Berkshire Hathaway Finance Corp., Senior Notes		4.250	%		1/15/49		19,600,000		18,107,262
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%)		6.798	%		12/21/65		2,870,000		1,912,832	(a)(c)
Mastercard Inc., Senior Notes		3.850	%		3/26/50		4,530,000		4,029,356
National Securities Clearing Corp., Senior Notes		1.200	%		4/23/23		7,360,000		7,342,099	(a)
National Securities Clearing Corp., Senior Notes		1.500	%		4/23/25		9,000,000		8,414,313	(a)
Park Aerospace Holdings Ltd., Senior Notes		5.500	%		2/15/24		2,790,000		2,765,186	(a)
PayPal Holdings Inc., Senior Notes		1.650	%		6/1/25		12,430,000		11,673,673

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         33

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Financial Services - (continued)
PayPal Holdings Inc., Senior Notes		2.300	%		6/1/30		6,750,000	$	5,782,956
USAA Capital Corp., Senior Notes		2.125	%		5/1/30		1,100,000		917,895	(a)
Vanguard Group Inc.		3.050	%		8/22/50		21,230,000		13,880,576	(e)(f)
Visa Inc., Senior Notes		3.150	%		12/14/25		26,130,000		25,401,886
Visa Inc., Senior Notes		2.050	%		4/15/30		9,790,000		8,543,146
Visa Inc., Senior Notes		4.300	%		12/14/45		16,470,000		15,879,407
Total Financial Services									211,285,885
Insurance - 0.2%
American International Group Inc., Senior Notes		2.500	%		6/30/25		5,319,000		5,034,949
Brighthouse Financial Inc., Senior Notes		4.700	%		6/22/47		374,000		273,844
Chubb INA Holdings Inc., Senior Notes		3.350	%		5/3/26		5,420,000		5,246,449
Guardian Life Global Funding, Secured Notes		1.100	%		6/23/25		5,940,000		5,458,119	(a)
MetLife Capital Trust IV, Junior Subordinated Notes		7.875	%		12/15/37		8,900,000		9,320,996	(a)
MetLife Inc., Junior Subordinated Notes		6.400	%		12/15/36		5,493,000		5,322,195
New York Life Global Funding, Senior Secured Notes		0.950	%		6/24/25		10,670,000		9,829,377	(a)
Principal Life Global Funding II, Secured Notes		1.250	%		6/23/25		5,400,000		4,943,295	(a)
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		7,755,000		7,179,267	(a)
Total Insurance									52,608,491
TOTAL FINANCIALS									3,373,118,595
HEALTH CARE - 3.8%
Biotechnology - 0.6%
AbbVie Inc., Senior Notes		3.750	%		11/14/23		3,205,000		3,174,443
AbbVie Inc., Senior Notes		2.600	%		11/21/24		47,110,000		45,483,747
AbbVie Inc., Senior Notes		3.800	%		3/15/25		10,140,000		9,979,430
AbbVie Inc., Senior Notes		3.600	%		5/14/25		9,430,000		9,253,902
AbbVie Inc., Senior Notes		2.950	%		11/21/26		10,890,000		10,368,714
AbbVie Inc., Senior Notes		3.200	%		11/21/29		52,150,000		48,416,391
AbbVie Inc., Senior Notes		4.550	%		3/15/35		140,000		136,974
AbbVie Inc., Senior Notes		4.750	%		3/15/45		472,000		445,785
AbbVie Inc., Senior Notes		4.875	%		11/14/48		2,385,000		2,298,159

See Notes to Schedule of Investments.

    34     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Biotechnology - (continued)
AbbVie Inc., Senior Notes		4.250	%		11/21/49		11,776,000	$	10,402,628
Amgen Inc., Senior Notes		3.625	%		5/22/24		1,480,000		1,459,551
Amgen Inc., Senior Notes		4.663	%		6/15/51		1,933,000		1,758,111
Gilead Sciences Inc., Senior Notes		3.700	%		4/1/24		399,000		394,424
Gilead Sciences Inc., Senior Notes		3.500	%		2/1/25		5,000,000		4,902,622
Gilead Sciences Inc., Senior Notes		3.650	%		3/1/26		1,560,000		1,527,887
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		6,165,000		5,933,165
Total Biotechnology									155,935,933
Health Care Equipment & Supplies - 0.2%
Abbott Laboratories, Senior Notes		3.750	%		11/30/26		17,140,000		17,029,075
Abbott Laboratories, Senior Notes		4.750	%		11/30/36		6,660,000		6,924,859
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		10,150,000		10,451,394
Becton Dickinson & Co., Senior Notes		3.363	%		6/6/24		8,681,000		8,523,908
Becton Dickinson & Co., Senior Notes		3.734	%		12/15/24		1,072,000		1,048,630
Becton Dickinson & Co., Senior Notes		4.685	%		12/15/44		1,975,000		1,840,266
Roche Holdings Inc., Senior Notes		2.607	%		12/13/51		20,900,000		14,619,384	(a)
Total Health Care Equipment & Supplies									60,437,516
Health Care Providers & Services - 1.5%
Aetna Inc., Senior Notes		2.800	%		6/15/23		2,610,000		2,597,778
Centene Corp., Senior Notes		4.250	%		12/15/27		8,754,000		8,442,883
Centene Corp., Senior Notes		4.625	%		12/15/29		12,769,000		12,017,417
Centene Corp., Senior Notes		3.375	%		2/15/30		3,060,000		2,672,433
Centene Corp., Senior Notes		3.000	%		10/15/30		1,400,000		1,180,173
Centene Corp., Senior Notes		2.625	%		8/1/31		1,430,000		1,160,030
Cigna Corp., Senior Notes		2.375	%		3/15/31		10,000,000		8,441,602
Cigna Group, Senior Notes		3.750	%		7/15/23		12,207,000		12,148,864
Cigna Group, Senior Notes		4.125	%		11/15/25		8,050,000		7,923,649
Cigna Group, Senior Notes		4.375	%		10/15/28		16,690,000		16,455,995
Cigna Group, Senior Notes		4.800	%		8/15/38		26,282,000		25,488,225
Cigna Group, Senior Notes		4.900	%		12/15/48		8,400,000		7,911,652
CommonSpirit Health, Secured Notes		4.350	%		11/1/42		1,410,000		1,218,185
CVS Health Corp., Senior Notes		3.875	%		7/20/25		4,447,000		4,369,162
CVS Health Corp., Senior Notes		3.625	%		4/1/27		5,590,000		5,389,618
CVS Health Corp., Senior Notes		4.300	%		3/25/28		15,750,000		15,476,381
CVS Health Corp., Senior Notes		3.750	%		4/1/30		21,210,000		19,859,152

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         35

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
CVS Health Corp., Senior Notes		1.750	%		8/21/30		10,000,000	$	8,134,034
CVS Health Corp., Senior Notes		1.875	%		2/28/31		3,810,000		3,087,830
CVS Health Corp., Senior Notes		2.125	%		9/15/31		13,700,000		11,207,981
CVS Health Corp., Senior Notes		4.125	%		4/1/40		4,720,000		4,063,764
CVS Health Corp., Senior Notes		5.125	%		7/20/45		12,410,000		11,783,616
CVS Health Corp., Senior Notes		5.050	%		3/25/48		30,943,000		28,977,159
CVS Health Corp., Senior Notes		4.250	%		4/1/50		11,275,000		9,434,156
CVS Pass-Through Trust, Secured Trust		5.880	%		1/10/28		2,075,333		2,085,698
CVS Pass-Through Trust, Secured Trust		6.943	%		1/10/30		1,555,928		1,604,699
CVS Pass-Through Trust, Senior Secured Trust		5.298	%		1/11/27		146,182		145,103	(a)
CVS Pass-Through Trust, Senior Secured Trust		6.036	%		12/10/28		5,980,859		6,107,234
Elevance Health Inc., Senior Notes		3.350	%		12/1/24		4,140,000		4,043,928
Elevance Health Inc., Senior Notes		3.650	%		12/1/27		5,815,000		5,622,257
Elevance Health Inc., Senior Notes		4.100	%		5/15/32		3,580,000		3,426,378
Elevance Health Inc., Senior Notes		4.375	%		12/1/47		4,000,000		3,565,413
Fresenius Medical Care U.S. Finance II Inc., Senior Notes		4.750	%		10/15/24		780,000		771,323	(a)
HCA Inc., Senior Notes		5.000	%		3/15/24		330,000		328,149
HCA Inc., Senior Notes		5.375	%		2/1/25		3,542,000		3,545,766
HCA Inc., Senior Notes		7.690	%		6/15/25		723,000		748,292
HCA Inc., Senior Notes		5.250	%		6/15/26		2,960,000		2,964,397
HCA Inc., Senior Notes		5.375	%		9/1/26		518,000		520,201
HCA Inc., Senior Notes		5.625	%		9/1/28		700,000		708,689
HCA Inc., Senior Notes		5.875	%		2/1/29		4,060,000		4,150,982
HCA Inc., Senior Notes		3.500	%		9/1/30		15,493,000		13,809,867
HCA Inc., Senior Notes		5.500	%		6/15/47		5,920,000		5,566,212
HCA Inc., Senior Notes		7.500	%		11/15/95		15,410,000		16,927,161
HCA Inc., Senior Secured Notes		4.500	%		2/15/27		1,780,000		1,739,623
Humana Inc., Senior Notes		4.500	%		4/1/25		2,460,000		2,439,690
Humana Inc., Senior Notes		3.950	%		3/15/27		8,340,000		8,079,437
Humana Inc., Senior Notes		2.150	%		2/3/32		4,440,000		3,602,493
Humana Inc., Senior Notes		4.625	%		12/1/42		3,460,000		3,128,741
Humana Inc., Senior Notes		4.950	%		10/1/44		2,476,000		2,313,390
Humana Inc., Senior Notes		4.800	%		3/15/47		600,000		548,667

See Notes to Schedule of Investments.

    36     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
UnitedHealth Group Inc., Senior Notes		3.875	%		12/15/28		2,622,000	$	2,571,364
UnitedHealth Group Inc., Senior Notes		4.000	%		5/15/29		7,960,000		7,791,855
UnitedHealth Group Inc., Senior Notes		2.000	%		5/15/30		11,310,000		9,674,718
UnitedHealth Group Inc., Senior Notes		2.300	%		5/15/31		2,750,000		2,357,859
UnitedHealth Group Inc., Senior Notes		4.200	%		5/15/32		9,820,000		9,631,124
UnitedHealth Group Inc., Senior Notes		5.700	%		10/15/40		10,000,000		10,858,930
UnitedHealth Group Inc., Senior Notes		4.250	%		6/15/48		3,420,000		3,083,333
UnitedHealth Group Inc., Senior Notes		4.450	%		12/15/48		10,480,000		9,725,177
UnitedHealth Group Inc., Senior Notes		3.700	%		8/15/49		6,465,000		5,285,353
UnitedHealth Group Inc., Senior Notes		2.900	%		5/15/50		1,080,000		766,305
UnitedHealth Group Inc., Senior Notes		3.875	%		8/15/59		10,385,000		8,512,658
UnitedHealth Group Inc., Senior Notes		3.125	%		5/15/60		1,570,000		1,100,951
Total Health Care Providers & Services									399,295,156
Pharmaceuticals - 1.5%
Bausch Health Americas Inc., Senior Notes		9.250	%		4/1/26		5,181,000		3,849,042	(a)
Bausch Health Americas Inc., Senior Notes		8.500	%		1/31/27		36,000		16,495	(a)
Bausch Health Cos. Inc., Senior Notes		5.000	%		2/15/29		20,974,000		8,238,482	(a)
Bausch Health Cos. Inc., Senior Notes		6.250	%		2/15/29		22,301,000		8,929,097	(a)
Bausch Health Cos. Inc., Senior Notes		7.250	%		5/30/29		6,789,000		2,606,193	(a)
Bausch Health Cos. Inc., Senior Notes		5.250	%		1/30/30		67,480,000		25,262,825	(a)
Bausch Health Cos. Inc., Senior Secured Notes		5.500	%		11/1/25		590,000		485,752	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         37

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - (continued)
Bristol-Myers Squibb Co., Senior Notes		2.900	%		7/26/24		25,023,000	$	24,538,720
Bristol-Myers Squibb Co., Senior Notes		3.200	%		6/15/26		12,042,000		11,645,259
Bristol-Myers Squibb Co., Senior Notes		3.400	%		7/26/29		2,693,000		2,563,123
Bristol-Myers Squibb Co., Senior Notes		4.550	%		2/20/48		3,441,000		3,255,048
Johnson & Johnson, Senior Notes		0.550	%		9/1/25		9,820,000		9,033,433
Johnson & Johnson, Senior Notes		0.950	%		9/1/27		19,580,000		17,344,608
Johnson & Johnson, Senior Notes		3.625	%		3/3/37		29,750,000		27,535,597
Johnson & Johnson, Senior Notes		2.100	%		9/1/40		3,700,000		2,687,172
Merck & Co. Inc., Senior Notes		0.750	%		2/24/26		17,050,000		15,620,690
Merck & Co. Inc., Senior Notes		1.450	%		6/24/30		9,130,000		7,551,742
Merck & Co. Inc., Senior Notes		2.750	%		12/10/51		20,400,000		14,459,998
Pfizer Inc., Senior Notes		0.800	%		5/28/25		20,340,000		18,875,401
Pfizer Inc., Senior Notes		2.625	%		4/1/30		14,195,000		12,820,936
Pfizer Inc., Senior Notes		1.700	%		5/28/30		13,010,000		10,959,699
Pfizer Inc., Senior Notes		7.200	%		3/15/39		5,000		6,301
Teva Pharmaceutical Finance Co. LLC, Senior Notes		6.150	%		2/1/36		2,420,000		2,200,179
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		2.800	%		7/21/23		3,619,000		3,579,712
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		6.000	%		4/15/24		1,810,000		1,811,955
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		7.125	%		1/31/25		10,230,000		10,450,047
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		3.150	%		10/1/26		81,598,000		73,926,156
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		4.750	%		5/9/27		9,740,000		9,103,759
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		6.750	%		3/1/28		830,000		831,083
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		5.125	%		5/9/29		25,910,000		23,495,360
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		8.125	%		9/15/31		6,060,000		6,368,762

See Notes to Schedule of Investments.

    38     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - (continued)
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		4.100	%		10/1/46		21,910,000	$	14,619,562
Wyeth LLC, Senior Notes		5.950	%		4/1/37		5,098,000		5,728,539
Total Pharmaceuticals									380,400,727
TOTAL HEALTH CARE									996,069,332
INDUSTRIALS - 3.2%
Aerospace & Defense - 1.5%
Boeing Co., Senior Notes		1.433	%		2/4/24		11,330,000		10,949,787
Boeing Co., Senior Notes		4.875	%		5/1/25		45,320,000		45,250,121
Boeing Co., Senior Notes		2.196	%		2/4/26		21,860,000		20,291,688
Boeing Co., Senior Notes		3.100	%		5/1/26		3,720,000		3,525,353
Boeing Co., Senior Notes		2.700	%		2/1/27		5,050,000		4,655,446
Boeing Co., Senior Notes		2.800	%		3/1/27		4,740,000		4,349,675
Boeing Co., Senior Notes		3.200	%		3/1/29		16,620,000		15,197,270
Boeing Co., Senior Notes		5.150	%		5/1/30		16,970,000		17,084,909
Boeing Co., Senior Notes		3.250	%		2/1/35		32,524,000		26,591,001
Boeing Co., Senior Notes		3.550	%		3/1/38		3,780,000		3,007,946
Boeing Co., Senior Notes		5.705	%		5/1/40		23,976,000		24,279,027
Boeing Co., Senior Notes		3.750	%		2/1/50		9,510,000		7,215,795
Boeing Co., Senior Notes		5.805	%		5/1/50		30,300,000		30,544,077
Boeing Co., Senior Notes		5.930	%		5/1/60		14,430,000		14,441,632
General Dynamics Corp., Senior Notes		3.250	%		4/1/25		1,740,000		1,694,173
General Dynamics Corp., Senior Notes		3.500	%		5/15/25		1,990,000		1,952,139
General Dynamics Corp., Senior Notes		4.250	%		4/1/40		1,535,000		1,451,114
General Dynamics Corp., Senior Notes		4.250	%		4/1/50		8,121,000		7,607,226
L3Harris Technologies Inc., Senior Notes		4.854	%		4/27/35		2,988,000		2,950,889
L3Harris Technologies Inc., Senior Notes		5.054	%		4/27/45		2,940,000		2,811,074
Lockheed Martin Corp., Senior Notes		3.550	%		1/15/26		6,559,000		6,499,697
Lockheed Martin Corp., Senior Notes		3.900	%		6/15/32		7,740,000		7,533,114
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		2,420,000		2,394,716

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         39

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Aerospace & Defense - (continued)
Lockheed Martin Corp., Senior Notes		4.150	%		6/15/53		36,270,000	$	33,019,108
Northrop Grumman Corp., Senior Notes		2.930	%		1/15/25		16,925,000		16,396,325
Northrop Grumman Corp., Senior Notes		3.250	%		1/15/28		29,720,000		28,252,182
Northrop Grumman Corp., Senior Notes		5.250	%		5/1/50		20,320,000		21,074,656
Raytheon Technologies Corp., Senior Notes		3.150	%		12/15/24		6,150,000		6,003,755
Raytheon Technologies Corp., Senior Notes		3.950	%		8/16/25		14,150,000		13,992,343
Raytheon Technologies Corp., Senior Notes		4.125	%		11/16/28		7,780,000		7,675,875
Raytheon Technologies Corp., Senior Notes		2.250	%		7/1/30		13,000,000		11,143,863
Raytheon Technologies Corp., Senior Notes		4.500	%		6/1/42		4,109,000		3,898,350
Total Aerospace & Defense									403,734,326
Air Freight & Logistics - 0.1%
DP World Ltd., Senior Notes		5.625	%		9/25/48		27,030,000		26,223,560	(a)
Building Products - 0.0%††
Builders FirstSource Inc., Senior Notes		4.250	%		2/1/32		3,190,000		2,782,603	(a)
Carrier Global Corp., Senior Notes		3.577	%		4/5/50		840,000		637,164
Total Building Products									3,419,767
Commercial Services & Supplies - 0.1%
ADT Security Corp., Senior Secured Notes		4.125	%		8/1/29		810,000		723,350	(a)
Cintas Corp. No 2, Senior Notes		3.700	%		4/1/27		7,500,000		7,279,977
CoreCivic Inc., Senior Notes		4.750	%		10/15/27		540,000		476,761
GFL Environmental Inc., Senior Secured Notes		4.250	%		6/1/25		7,650,000		7,471,946	(a)
Republic Services Inc., Senior Notes		2.500	%		8/15/24		9,100,000		8,818,377
Total Commercial Services & Supplies									24,770,411
Electrical Equipment - 0.0%††
Eaton Corp., Senior Notes		4.150	%		11/2/42		4,160,000		3,688,843

See Notes to Schedule of Investments.

    40     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Ground Transportation - 0.3%
Burlington Northern Santa Fe LLC, Senior Notes		2.875	%		6/15/52		2,120,000	$	1,487,729
Canadian Pacific Railway Co., Senior Notes		3.000	%		12/2/41		730,000		584,389
Canadian Pacific Railway Co., Senior Notes		3.100	%		12/2/51		10,360,000		7,434,091
Union Pacific Corp., Senior Notes		3.750	%		7/15/25		8,730,000		8,612,198
Union Pacific Corp., Senior Notes		2.150	%		2/5/27		4,380,000		4,059,759
Union Pacific Corp., Senior Notes		2.891	%		4/6/36		28,460,000		23,538,677
Union Pacific Corp., Senior Notes		3.839	%		3/20/60		23,430,000		19,071,181
Union Pacific Corp., Senior Notes		3.750	%		2/5/70		12,515,000		9,650,003
Total Ground Transportation									74,438,027
Industrial Conglomerates - 0.2%
3M Co., Senior Notes		2.375	%		8/26/29		10,110,000		8,942,373
3M Co., Senior Notes		3.050	%		4/15/30		3,400,000		3,111,410
3M Co., Senior Notes		3.700	%		4/15/50		20,000,000		16,424,508
Honeywell International Inc., Senior Notes		1.350	%		6/1/25		9,750,000		9,154,011
Total Industrial Conglomerates									37,632,302
Machinery - 0.1%
Deere & Co., Senior Notes		3.100	%		4/15/30		4,080,000		3,763,587
Deere & Co., Senior Notes		3.750	%		4/15/50		24,850,000		22,104,933
Otis Worldwide Corp., Senior Notes		2.056	%		4/5/25		6,550,000		6,185,655
Vertiv Group Corp., Senior Secured Notes		4.125	%		11/15/28		5,265,000		4,651,548	(a)
Total Machinery									36,705,723
Passenger Airlines - 0.6%
Delta Air Lines Inc., Senior Notes		3.800	%		4/19/23		4,300,000		4,297,881
Delta Air Lines Inc., Senior Notes		2.900	%		10/28/24		9,750,000		9,338,160
Delta Air Lines Inc., Senior Notes		7.375	%		1/15/26		17,870,000		18,612,320
Delta Air Lines Inc., Senior Secured Notes		7.000	%		5/1/25		45,310,000		46,484,501	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.500	%		10/20/25		15,556,000		15,304,590	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.750	%		10/20/28		15,300,000		14,777,475	(a)
Hawaiian Brand Intellectual Property Ltd./HawaiianMiles Loyalty Ltd., Senior Secured Notes		5.750	%		1/20/26		1,745,000		1,658,832	(a)
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes		6.500	%		6/20/27		13,387,500		13,357,579	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         41

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Passenger Airlines - (continued)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes		8.000	%		9/20/25		11,735,997	$	11,776,193	(a)
United Airlines Inc., Senior Secured Notes		4.375	%		4/15/26		10,350,000		9,914,039	(a)
United Airlines Inc., Senior Secured Notes		4.625	%		4/15/29		27,030,000		24,484,352	(a)
Total Passenger Airlines									170,005,922
Trading Companies & Distributors - 0.3%
Air Lease Corp., Senior Notes		3.375	%		7/1/25		9,600,000		9,153,783
Air Lease Corp., Senior Notes		5.300	%		2/1/28		13,660,000		13,492,555
H&E Equipment Services Inc., Senior Notes		3.875	%		12/15/28		4,744,000		4,162,860	(a)
United Rentals North America Inc., Secured Notes		3.875	%		11/15/27		2,380,000		2,234,225
United Rentals North America Inc., Senior Notes		5.500	%		5/15/27		96,000		95,185
United Rentals North America Inc., Senior Notes		4.875	%		1/15/28		5,413,000		5,181,865
United Rentals North America Inc., Senior Notes		5.250	%		1/15/30		1,560,000		1,503,013
United Rentals North America Inc., Senior Notes		3.875	%		2/15/31		28,270,000		24,979,372
United Rentals North America Inc., Senior Notes		3.750	%		1/15/32		10,600,000		9,140,539
Total Trading Companies & Distributors									69,943,397
TOTAL INDUSTRIALS									850,562,278
INFORMATION TECHNOLOGY - 1.9%
Communications Equipment - 0.0%††
CommScope Inc., Senior Secured Notes		4.750	%		9/1/29		4,927,000		4,111,581	(a)
CommScope Technologies LLC, Senior Notes		5.000	%		3/15/27		2,740,000		2,006,776	(a)
Total Communications Equipment									6,118,357
IT Services - 0.2%
International Business Machines Corp., Senior Notes		3.000	%		5/15/24		40,290,000		39,553,843	(g)
Semiconductors & Semiconductor Equipment - 0.7%
Broadcom Inc., Senior Notes		4.150	%		11/15/30		1,207,000		1,119,854
Broadcom Inc., Senior Notes		3.137	%		11/15/35		57,100,000		43,957,723	(a)
Broadcom Inc., Senior Notes		3.187	%		11/15/36		154,000		116,834	(a)

See Notes to Schedule of Investments.

    42     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Semiconductors & Semiconductor Equipment - (continued)
Broadcom Inc., Senior Notes		4.926	%		5/15/37		1,635,000	$	1,488,351	(a)
Intel Corp., Senior Notes		3.700	%		7/29/25		4,050,000		3,994,261
Intel Corp., Senior Notes		1.600	%		8/12/28		12,160,000		10,632,153
Intel Corp., Senior Notes		5.125	%		2/10/30		9,830,000		10,014,693
Intel Corp., Senior Notes		4.750	%		3/25/50		11,385,000		10,455,626
Intel Corp., Senior Notes		3.050	%		8/12/51		5,950,000		4,069,559
Micron Technology Inc., Senior Notes		5.875	%		2/9/33		16,226,000		16,415,368
NVIDIA Corp., Senior Notes		2.850	%		4/1/30		7,890,000		7,186,902
NVIDIA Corp., Senior Notes		3.500	%		4/1/40		17,250,000		14,828,340
NVIDIA Corp., Senior Notes		3.500	%		4/1/50		47,120,000		38,627,194	(g)
NVIDIA Corp., Senior Notes		3.700	%		4/1/60		16,020,000		12,942,402
NXP BV/NXP Funding LLC/NXP USA Inc., Senior Notes		2.700	%		5/1/25		8,540,000		8,109,531
Texas Instruments Inc., Senior Notes		1.750	%		5/4/30		8,690,000		7,366,215
Total Semiconductors & Semiconductor Equipment									191,325,006
Software - 0.8%
Microsoft Corp., Senior Notes		2.875	%		2/6/24		19,298,000		19,014,098
Microsoft Corp., Senior Notes		2.700	%		2/12/25		4,322,000		4,211,988
Microsoft Corp., Senior Notes		2.400	%		8/8/26		54,765,000		52,148,968	(g)
Microsoft Corp., Senior Notes		3.300	%		2/6/27		40,450,000		39,707,700	(g)
Microsoft Corp., Senior Notes		3.450	%		8/8/36		367,000		339,832
Microsoft Corp., Senior Notes		2.525	%		6/1/50		1,686,000		1,194,650
Microsoft Corp., Senior Notes		2.921	%		3/17/52		3,247,000		2,471,688
Microsoft Corp., Senior Notes		3.041	%		3/17/62		3,169,000		2,379,416
Oracle Corp., Senior Notes		1.650	%		3/25/26		31,230,000		28,704,303
Oracle Corp., Senior Notes		2.950	%		4/1/30		2,670,000		2,358,469
Oracle Corp., Senior Notes		4.650	%		5/6/30		9,810,000		9,555,255
Oracle Corp., Senior Notes		2.875	%		3/25/31		32,310,000		27,664,203
Salesforce Inc., Senior Notes		3.250	%		4/11/23		11,370,000		11,364,282
Salesforce Inc., Senior Notes		3.700	%		4/11/28		3,480,000		3,421,578
Workday Inc., Senior Notes		3.700	%		4/1/29		8,894,000		8,345,360
Total Software									212,881,790
Technology Hardware, Storage & Peripherals - 0.2%
Apple Inc., Senior Notes		1.125	%		5/11/25		33,600,000		31,547,995
Apple Inc., Senior Notes		2.450	%		8/4/26		32,030,000		30,504,115
Total Technology Hardware, Storage & Peripherals									62,052,110
TOTAL INFORMATION TECHNOLOGY									511,931,106

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         43

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
MATERIALS - 1.3%
Chemicals - 0.4%
Equate Petrochemical BV, Senior Notes		4.250	%		11/3/26		14,230,000	$	13,837,978	(a)
LyondellBasell Industries NV, Senior Notes		5.750	%		4/15/24		1,533,000		1,534,263
OCP SA, Senior Notes		4.500	%		10/22/25		14,510,000		14,107,783	(a)
OCP SA, Senior Notes		3.750	%		6/23/31		12,000,000		9,862,200	(a)
OCP SA, Senior Notes		5.125	%		6/23/51		11,820,000		8,641,389	(a)
Orbia Advance Corp. SAB de CV, Senior Notes		1.875	%		5/11/26		28,040,000		25,001,257	(a)
Orbia Advance Corp. SAB de CV, Senior Notes		2.875	%		5/11/31		26,600,000		21,382,676	(a)
Total Chemicals									94,367,546
Containers & Packaging - 0.0%††
Ardagh Metal Packaging Finance USA LLC/Ardagh Metal Packaging Finance PLC, Senior Notes		4.000	%		9/1/29		780,000		611,095	(a)
Ardagh Packaging Finance PLC/Ardagh Holdings USA Inc., Senior Notes		5.250	%		8/15/27		610,000		481,540	(a)
Ball Corp., Senior Notes		3.125	%		9/15/31		12,830,000		10,629,206
Total Containers & Packaging									11,721,841
Metals & Mining - 0.7%
Anglo American Capital PLC, Senior Notes		3.625	%		9/11/24		3,400,000		3,320,033	(a)
Anglo American Capital PLC, Senior Notes		4.750	%		4/10/27		9,785,000		9,587,000	(a)
Anglo American Capital PLC, Senior Notes		4.000	%		9/11/27		13,125,000		12,482,988	(a)
ArcelorMittal SA, Senior Notes		7.000	%		10/15/39		3,490,000		3,673,649
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		8,454,000		8,887,386
Barrick North America Finance LLC, Senior Notes		5.750	%		5/1/43		8,260,000		8,712,643
BHP Billiton Finance USA Ltd., Senior Notes		5.000	%		9/30/43		7,630,000		7,736,445
Freeport-McMoRan Inc., Senior Notes		4.550	%		11/14/24		130,000		129,401
Freeport-McMoRan Inc., Senior Notes		4.625	%		8/1/30		5,720,000		5,409,565

See Notes to Schedule of Investments.

    44     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Metals & Mining - (continued)
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		26,672,000	$	24,978,747
Glencore Finance Canada Ltd., Senior Notes		6.000	%		11/15/41		2,120,000		2,139,164	(a)
Glencore Funding LLC, Senior Notes		4.125	%		5/30/23		3,200,000		3,188,619	(a)
Glencore Funding LLC, Senior Notes		4.125	%		3/12/24		33,008,000		32,663,922	(a)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		15,750,000		15,186,898	(a)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		30,800,000		29,509,411
Teck Resources Ltd., Senior Notes		3.900	%		7/15/30		5,000,000		4,597,423
Teck Resources Ltd., Senior Notes		6.000	%		8/15/40		641,000		648,979
Vale Overseas Ltd., Senior Notes		6.250	%		8/10/26		6,600,000		6,776,217
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36		6,581,000		6,885,312
Yamana Gold Inc., Senior Notes		4.625	%		12/15/27		10,350,000		9,900,975
Total Metals & Mining									196,414,777
Paper & Forest Products - 0.2%
Suzano Austria GmbH, Senior Notes		3.750	%		1/15/31		40,390,000		35,180,599
Suzano Austria GmbH, Senior Notes		3.125	%		1/15/32		10,070,000		8,247,503
Total Paper & Forest Products									43,428,102
TOTAL MATERIALS									345,932,266
REAL ESTATE - 0.1%
Diversified REITs - 0.0%††
VICI Properties LP/VICI Note Co. Inc., Senior Notes		4.500	%		1/15/28		340,000		315,298	(a)
Health Care REITs - 0.0%††
CTR Partnership LP/CareTrust Capital Corp., Senior Notes		3.875	%		6/30/28		3,294,000		2,819,977	(a)
Retail REITs - 0.1%
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		3.750	%		9/17/24		23,980,000		22,733,202	(a)
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		4.750	%		9/17/44		600,000		438,101	(a)
Total Retail REITs									23,171,303
TOTAL REAL ESTATE									26,306,578
UTILITIES - 0.3%
Electric Utilities - 0.3%
American Transmission Systems Inc., Senior Notes		2.650	%		1/15/32		6,040,000		5,090,630	(a)
Duke Energy Carolinas LLC, First Mortgage Bonds		5.300	%		2/15/40		3,000,000		3,081,470

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         45

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Electric Utilities - (continued)
Duke Energy Ohio Inc., Secured Bonds		3.650	%		2/1/29		7,740,000	$	7,337,426
Exelon Corp., Senior Notes		5.625	%		6/15/35		5,126,000		5,350,687
FirstEnergy Corp., Senior Notes		1.600	%		1/15/26		5,780,000		5,284,596
FirstEnergy Corp., Senior Notes		4.150	%		7/15/27		15,802,000		15,070,130
FirstEnergy Corp., Senior Notes		5.100	%		7/15/47		10,344,000		9,188,512
Pacific Gas and Electric Co., First Mortgage Bonds		2.100	%		8/1/27		6,640,000		5,795,931
Pacific Gas and Electric Co., First Mortgage Bonds		2.500	%		2/1/31		8,320,000		6,747,451
Pacific Gas and Electric Co., First Mortgage Bonds		3.300	%		8/1/40		1,720,000		1,222,715
Pacific Gas and Electric Co., First Mortgage Bonds		3.500	%		8/1/50		4,040,000		2,672,382
Progress Energy Inc., Senior Notes		6.000	%		12/1/39		4,800,000		4,949,253
Total Electric Utilities									71,791,183
Multi-Utilities - 0.0%††
Consolidated Edison Co. of New York Inc., Senior Notes		3.350	%		4/1/30		5,400,000		4,979,485
Consolidated Edison Co. of New York Inc., Senior Notes		3.950	%		4/1/50		4,490,000		3,728,212
Dominion Energy Inc., Senior Notes		7.000	%		6/15/38		3,600,000		4,098,791
Total Multi-Utilities									12,806,488
TOTAL UTILITIES									84,597,671
TOTAL CORPORATE BONDS & NOTES (Cost - $11,999,110,412)									10,748,344,140
MORTGAGE-BACKED SECURITIES - 29.5%
FHLMC - 5.5%
Federal Home Loan Mortgage Corp. (FHLMC)		5.000	%		6/1/23-9/1/52		45,823,974		45,976,336
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		9/1/32-4/1/52		53,086,145		48,460,493
Federal Home Loan Mortgage Corp. (FHLMC)		4.000	%		9/1/32-7/1/49		102,908,276		100,206,213
Federal Home Loan Mortgage Corp. (FHLMC)		3.500	%		8/1/33-5/1/52		34,132,903		32,576,686
Federal Home Loan Mortgage Corp. (FHLMC)		6.000	%		8/1/36-12/1/52		19,484,476		20,009,718
Federal Home Loan Mortgage Corp. (FHLMC)		5.500	%		12/1/38-1/1/53		6,629,965		6,768,339

See Notes to Schedule of Investments.

    46     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FHLMC - (continued)
Federal Home Loan Mortgage Corp. (FHLMC)		2.500	%		4/1/41-4/1/52		423,052,621	$	369,960,021
Federal Home Loan Mortgage Corp. (FHLMC)		2.000	%		9/1/41-2/1/52		467,522,996		391,104,208
Federal Home Loan Mortgage Corp. (FHLMC)		1.500	%		10/1/41-2/1/51		13,517,851		10,839,699
Federal Home Loan Mortgage Corp. (FHLMC)		2.000	%		8/1/42		1,646,508		1,425,450	(h)
Federal Home Loan Mortgage Corp. (FHLMC)		2.091	%		3/1/47		3,100,234		2,952,095	(c)
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		3/1/47-6/1/52		42,707,511		42,501,800
Federal Home Loan Mortgage Corp. (FHLMC)		2.877	%		11/1/47		15,524,397		15,034,871	(c)
Federal Home Loan Mortgage Corp. (FHLMC)		3.007	%		11/1/48		44,174,123		42,270,317	(c)
Federal Home Loan Mortgage Corp. (FHLMC)		3.097	%		2/1/50		21,535,340		20,843,170	(c)
Federal Home Loan Mortgage Corp. (FHLMC)		2.500	%		7/1/50-4/1/52		151,741,495		132,553,045	(h)
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		1/1/51-11/1/52		43,923,704		43,207,661	(h)
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		11/1/51		4,998,505		4,497,273	(h)
Federal Home Loan Mortgage Corp. (FHLMC)		3.500	%		5/1/52		27,040,512		25,153,104	(h)
Federal Home Loan Mortgage Corp. (FHLMC)		6.500	%		1/1/53-3/1/53		19,525,566		20,168,594
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.500	%		7/1/23-6/1/47		2,940,417		2,936,803
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.000	%		9/1/23-4/1/44		911,542		927,191
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.500	%		7/1/29-9/1/39		1,167,164		1,223,678
Federal Home Loan Mortgage Corp. (FHLMC) Gold		7.000	%		4/1/32-3/1/39		306,898		328,219
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.500	%		8/1/33-3/1/45		12,070,001		11,557,146
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.500	%		11/1/35		2,646		2,694

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         47

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
FHLMC - (continued)								��
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.000	%		11/1/36		6,843		$	7,163
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.000	%		2/1/38-9/1/48		60,484,753			55,722,114
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.000	%		10/1/42-8/1/47		21,591,419			21,178,804
Total FHLMC										1,470,392,905
FNMA - 16.1%
Federal National Mortgage Association (FNMA)		4.500	%		7/1/23-1/1/59		160,993,148			160,224,558
Federal National Mortgage Association (FNMA)		2.810	%		4/1/25		3,150,000			3,047,570
Federal National Mortgage Association (FNMA)		3.200	%		2/1/29		268,766			255,574
Federal National Mortgage Association (FNMA)		6.500	%		2/1/29-2/1/53		44,099,360			45,937,994
Federal National Mortgage Association (FNMA)		3.450	%		3/1/29		610,203			588,562
Federal National Mortgage Association (FNMA)		3.160	%		5/1/29		5,693,889			5,374,223
Federal National Mortgage Association (FNMA)		3.250	%		5/1/29		679,873			648,336
Federal National Mortgage Association (FNMA)		6.000	%		5/1/29-1/1/53		20,107,180			20,898,395
Federal National Mortgage Association (FNMA)		7.000	%		8/1/29-2/1/39		1,617,617			1,718,371
Federal National Mortgage Association (FNMA)		7.500	%		11/1/29		859			903
Federal National Mortgage Association (FNMA)		2.930	%		6/1/30		1,022,916			957,681
Federal National Mortgage Association (FNMA)		2.149	%		2/1/32		2,947,470			2,510,204	(c)
Federal National Mortgage Association (FNMA)		3.520	%		6/1/32		1,380,000			1,308,745
Federal National Mortgage Association (FNMA)		3.670	%		6/1/32		1,195,918			1,152,556
Federal National Mortgage Association (FNMA)		3.730	%		6/1/32		1,660,000			1,606,518
Federal National Mortgage Association (FNMA)		3.900	%		6/1/32-8/1/32		5,164,000			4,954,212

See Notes to Schedule of Investments.

    48     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		3.560	%		7/1/32		3,380,000	$	3,213,467
Federal National Mortgage Association (FNMA)		3.830	%		7/1/32		1,377,000		1,340,538
Federal National Mortgage Association (FNMA)		3.840	%		7/1/32-8/1/32		7,637,000		7,419,727
Federal National Mortgage Association (FNMA)		3.860	%		7/1/32		384,138		375,371
Federal National Mortgage Association (FNMA)		3.880	%		7/1/32		1,981,312		1,938,881
Federal National Mortgage Association (FNMA)		3.890	%		7/1/32		24,732,000		23,669,916
Federal National Mortgage Association (FNMA)		4.060	%		7/1/32		6,835,790		6,644,916
Federal National Mortgage Association (FNMA)		4.110	%		7/1/32		469,000		465,314
Federal National Mortgage Association (FNMA)		4.130	%		7/1/32		1,200,000		1,188,192
Federal National Mortgage Association (FNMA)		4.185	%		7/1/32		1,604,000		1,599,443
Federal National Mortgage Association (FNMA)		3.850	%		8/1/32		5,840,000		5,569,719
Federal National Mortgage Association (FNMA)		3.740	%		9/1/32		5,904,000		5,690,282
Federal National Mortgage Association (FNMA)		3.980	%		10/1/32		16,299,000		15,704,967
Federal National Mortgage Association (FNMA)		4.260	%		11/1/32		8,798,000		8,806,502
Federal National Mortgage Association (FNMA)		4.370	%		11/1/32		6,880,000		6,946,805
Federal National Mortgage Association (FNMA)		4.440	%		11/1/32		3,535,000		3,586,813
Federal National Mortgage Association (FNMA)		4.410	%		12/1/32		7,026,000		7,118,126
Federal National Mortgage Association (FNMA)		4.580	%		1/1/33		500,000		513,180
Federal National Mortgage Association (FNMA)		4.690	%		1/1/33		699,531		723,429
Federal National Mortgage Association (FNMA)		5.080	%		1/1/33		100,000		106,498

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         49

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		4.360	%		2/1/33		2,100,000	$	2,120,295
Federal National Mortgage Association (FNMA)		4.420	%		3/1/33		1,900,000		1,927,138
Federal National Mortgage Association (FNMA)		4.700	%		3/1/33		2,200,000		2,282,815
Federal National Mortgage Association (FNMA)		4.870	%		3/1/33		300,000		315,260
Federal National Mortgage Association (FNMA)		4.480	%		5/1/33		1,823,000		1,835,533	(e)(i)
Federal National Mortgage Association (FNMA)		5.000	%		7/1/33-11/1/46		32,642,920		33,248,063
Federal National Mortgage Association (FNMA)		3.500	%		9/1/33-5/1/52		364,849,722		345,226,109
Federal National Mortgage Association (FNMA)		3.000	%		7/1/35-6/1/52		602,907,836		553,941,589
Federal National Mortgage Association (FNMA)		4.613	%		11/1/35		6,953		6,778	(c)
Federal National Mortgage Association (FNMA)		5.500	%		11/1/36-9/1/56		24,924,659		25,825,784
Federal National Mortgage Association (FNMA)		2.500	%		3/1/38-9/1/61		597,340,423		519,801,793
Federal National Mortgage Association (FNMA)		2.000	%		6/1/41-3/1/52		521,397,250		435,480,735
Federal National Mortgage Association (FNMA)		2.000	%		11/1/41-12/1/51		27,707,585		23,161,623	(h)
Federal National Mortgage Association (FNMA)		4.000	%		4/1/42-6/1/57		310,581,178		302,509,496
Federal National Mortgage Association (FNMA)		1.500	%		3/1/51		39,126,353		30,838,650
Federal National Mortgage Association (FNMA)		3.000	%		3/1/52		11,571,283		10,407,981	(h)
Federal National Mortgage Association (FNMA)		2.000	%		4/1/52		158,500,000		131,049,136	(i)
Federal National Mortgage Association (FNMA)		2.500	%		4/1/52		402,500,000		346,951,856	(i)
Federal National Mortgage Association (FNMA)		3.000	%		4/1/52		334,200,000		299,890,259	(i)
Federal National Mortgage Association (FNMA)		3.500	%		4/1/52		275,000,000		255,545,895	(i)

See Notes to Schedule of Investments.

    50     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		4.000	%		4/1/52		174,400,000	$	166,811,540	(i)
Federal National Mortgage Association (FNMA)		4.500	%		4/1/52		180,300,000		176,671,271	(i)
Federal National Mortgage Association (FNMA)		5.000	%		4/1/52		132,600,000		132,258,141	(i)
Federal National Mortgage Association (FNMA)		5.500	%		4/1/52		71,700,000		72,429,603	(i)
Federal National Mortgage Association (FNMA)		6.000	%		4/1/52		9,200,000		9,390,828	(i)
Federal National Mortgage Association (FNMA)		6.500	%		4/1/52		5,800,000		5,980,797	(i)
Federal National Mortgage Association (FNMA)		3.500	%		6/1/52		3,542,198		3,296,320	(h)
Federal National Mortgage Association (FNMA)		4.500	%		11/1/52		27,622,698		27,114,998	(h)
Federal National Mortgage Association (FNMA)		5.500	%		4/1/53		12,949,997		13,092,349	(h)
Total FNMA									4,283,219,123
GNMA - 7.9%
Government National Mortgage Association (GNMA)		7.500	%		5/15/23-9/15/31		4,891		4,902
Government National Mortgage Association (GNMA)		7.000	%		9/15/23-7/15/31		18,511		19,577
Government National Mortgage Association (GNMA)		6.500	%		4/15/28-1/15/39		1,105,726		1,144,646
Government National Mortgage Association (GNMA)		6.000	%		1/15/29-2/15/37		3,283,382		3,385,404
Government National Mortgage Association (GNMA)		8.000	%		12/15/30-1/15/31		7,022		7,035
Government National Mortgage Association (GNMA)		5.500	%		7/15/33-6/15/36		2,426,401		2,525,588
Government National Mortgage Association (GNMA)		3.000	%		9/15/42-11/15/42		24,762,458		23,037,811
Government National Mortgage Association (GNMA)		4.000	%		4/15/47-3/15/50		20,709,851		19,888,194
Government National Mortgage Association (GNMA)		3.500	%		6/15/48-5/15/50		8,205,373		7,943,279
Government National Mortgage Association (GNMA) II		5.000	%		4/20/35-2/20/53		78,998,254		80,027,932

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         51

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA) II		6.500	%		10/20/37		807,897	$	860,797
Government National Mortgage Association (GNMA) II		6.000	%		9/20/38-11/20/41		1,744,991		1,847,838
Government National Mortgage Association (GNMA) II		4.500	%		1/20/40-12/20/50		85,274,942		85,235,713
Government National Mortgage Association (GNMA) II		3.500	%		6/20/44-6/20/52		226,196,005		214,113,160
Government National Mortgage Association (GNMA) II		4.000	%		3/20/45-4/20/50		75,068,667		73,382,461
Government National Mortgage Association (GNMA) II		3.000	%		1/20/46-12/20/52		336,109,365		306,400,150
Government National Mortgage Association (GNMA) II		2.500	%		8/20/50-2/20/53		270,956,065		238,838,491
Government National Mortgage Association (GNMA) II		2.000	%		1/20/51-10/20/51		141,112,652		120,538,810
Government National Mortgage Association (GNMA) II		2.500	%		9/20/51		49,289,302		43,432,485	(h)
Government National Mortgage Association (GNMA) II		2.000	%		4/1/52		63,400,000		53,865,967	(i)
Government National Mortgage Association (GNMA) II		2.500	%		4/1/52		190,900,000		168,014,372	(i)
Government National Mortgage Association (GNMA) II		3.000	%		4/1/52		50,700,000		46,184,224	(i)
Government National Mortgage Association (GNMA) II		3.500	%		4/1/52		49,400,000		46,314,429	(i)
Government National Mortgage Association (GNMA) II		4.000	%		4/1/52		118,800,000		114,382,579	(i)
Government National Mortgage Association (GNMA) II		4.500	%		4/1/52		125,800,000		123,916,798	(i)
Government National Mortgage Association (GNMA) II		5.000	%		4/1/52		120,400,000		120,559,907	(i)
Government National Mortgage Association (GNMA) II		5.500	%		4/1/52		115,000,000		116,309,472	(i)
Government National Mortgage Association (GNMA) II		6.000	%		4/1/52		11,300,000		11,511,433	(i)

See Notes to Schedule of Investments.

    52     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA) II		5.500	%		11/20/52		33,132,607	$	33,582,929	(h)
Government National Mortgage Association (GNMA) II		3.500	%		12/20/52		26,410,268		24,779,940	(h)
Total GNMA									2,082,056,323
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $8,149,266,736)									7,835,668,351
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - 10.5%
245 Park Avenue Trust, 2017-245P A		3.508	%		6/5/37		16,160,000		14,591,901	(a)
Alternative Loan Trust, 2006-6CB 1A4		5.500	%		5/25/36		2,808,297		2,345,657
Alternative Loan Trust, 2006-18CB A6 (-4.000 x 1 mo. USD LIBOR + 28.600%)		9.219	%		7/25/36		4,698,488		4,608,541	(c)
Alternative Loan Trust, 2006-23CB 2A6, PAC (-4.000 x 1 mo. USD LIBOR + 28.400%)		9.019	%		8/25/36		2,368,722		1,579,582	(c)
Alternative Loan Trust, 2006-43CB 1A10		6.000	%		2/25/37		3,594,784		2,078,560
Alternative Loan Trust, 2006-43CB 3A3, IO (-1.000 x 1 mo. USD LIBOR + 6.630%)		1.785	%		2/25/37		10,561,230		1,430,163	(c)
Alternative Loan Trust, 2006-OA9 2A1B (1 mo. USD LIBOR + 0.200%)		4.961	%		7/20/46		245,965		187,815	(c)
Angel Oak Mortgage Trust, 2023-1 A1		4.750	%		9/26/67		35,383,794		34,162,732	(a)
Angel Oak Mortgage Trust I LLC, 2019-2 B1		5.016	%		3/25/49		11,000,000		10,692,986	(a)(c)
Banc of America Funding Trust, 2015-R2 3A2 (1 mo. USD LIBOR + 0.260%)		5.105	%		4/29/37		9,915,077		9,697,369	(a)(c)
BANK, 2020-BN29 C		3.028	%		11/15/53		2,500,000		1,791,827	(c)
BANK, 2023-5YR1 A2		5.779	%		3/15/56		18,300,000		18,482,634	(e)(h)
BBCCRE Trust, 2015-GTP E		4.563	%		8/10/33		33,260,000		25,185,031	(a)(c)
BBCMS Trust, 2018-CBM D (1 mo. USD LIBOR + 2.391%)		7.075	%		7/15/37		16,390,000		15,391,333	(a)(c)
BCAP LLC Trust, 2010-RR9 6A2		6.000	%		10/26/35		8,350,488		6,446,360	(a)(c)
Bear Stearns Asset Backed Securities Trust, 2004-AC6 A1		5.750	%		11/25/34		1,765,855		1,529,293

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         53

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Bear Stearns Asset Backed Securities Trust, 2006-AC4 A2 (-4.333 x 1 mo. USD LIBOR + 36.250%)		15.255	%		7/25/36		1,429,663	$	1,461,947	(c)
Bear Stearns Mortgage Funding Trust, 2007-AR2 A1 (1 mo. USD LIBOR + 0.170%)		5.015	%		3/25/37		7,875,131		7,067,823	(c)
Benchmark Mortgage Trust, 2020-IG1 AS		2.909	%		9/15/43		28,980,000		23,124,982	(c)
BHMS Mortgage Trust, 2018-MZB (1 mo. USD LIBOR + 6.637%)		11.321	%		7/15/25		93,060,000		80,626,719	(a)(c)
BIG Commercial Mortgage Trust, 2022-BIG F (1 mo. Term SOFR + 5.436%)		10.263	%		2/15/39		13,160,000		12,250,799	(a)(c)
BPR Trust, 2022-OANA A (1 mo. Term SOFR + 1.898%)		6.725	%		4/15/37		9,650,000		9,295,611	(a)(c)
BX Commercial Mortgage Trust, 2019-XL A (1 mo. Term SOFR + 1.034%)		5.862	%		10/15/36		16,149,058		15,976,255	(a)(c)
BX Commercial Mortgage Trust, 2021-XL2 J (1 mo. USD LIBOR + 3.890%)		8.574	%		10/15/38		9,267,151		8,458,814	(a)(c)
BX Commercial Mortgage Trust, 2022-LP2 G (1 mo. Term SOFR + 4.106%)		8.933	%		2/15/39		23,451,131		21,608,780	(a)(c)
BX Trust, 2022-PSB A (1 mo. Term SOFR + 2.451%)		7.278	%		8/15/39		32,780,748		32,658,050	(a)(c)
Chevy Chase Funding LLC Mortgage- Backed Certificates Series, 2005-4A A1 (1 mo. USD LIBOR + 0.200%)		5.045	%		10/25/36		204,354		177,177	(a)(c)
Citigroup Commercial Mortgage Trust, 2014-GC25 AS		4.017	%		10/10/47		2,800,000		2,656,648
Citigroup Commercial Mortgage Trust, 2017-P7 B		4.137	%		4/14/50		9,194,000		8,156,269	(c)
Citigroup Mortgage Loan Trust Inc., 2005-5 1A5		3.167	%		8/25/35		35,733		27,483	(c)
Cold Storage Trust, 2020-ICE5 A (1 mo. USD LIBOR + 0.900%)		5.584	%		11/15/37		112,444,286		109,679,618	(a)(c)
COLT Mortgage Loan Trust, 2022-6 A1		4.650	%		6/27/67		27,994,375		27,280,723	(a)

See Notes to Schedule of Investments.

    54     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Commercial Mortgage Pass-Through Certificates, 2014-CR21 A3		3.528	%		12/10/47		504,921	$	486,922
Commercial Mortgage Pass-Through Certificates, 2015-DC1 C		4.299	%		2/10/48		3,070,000		2,585,038	(c)
Commercial Mortgage Trust, 2013-CR12 AM		4.300	%		10/10/46		1,723,000		1,560,449
Commercial Mortgage Trust, 2013-CR12 B		4.762	%		10/10/46		1,470,000		1,228,609	(c)
Commercial Mortgage Trust, 2013-CR12 C		5.110	%		10/10/46		730,000		490,251	(c)
Commercial Mortgage Trust, 2014-CR19 B		4.698	%		8/10/47		8,410,000		8,040,083	(c)
Commercial Mortgage Trust, 2014-CR21 C		4.410	%		12/10/47		11,948,000		10,939,056	(c)
Commercial Mortgage Trust, 2015-DC1 B		4.035	%		2/10/48		7,160,000		6,262,393	(c)
Commercial Mortgage Trust, 2020-CX A		2.173	%		11/10/46		15,770,000		12,324,384	(a)
Commercial Mortgage Trust, 2020-CX B		2.446	%		11/10/46		5,000,000		3,838,872	(a)
CSMC Trust, 2014-USA A2		3.953	%		9/15/37		12,520,000		11,397,605	(a)
CSMC Trust, 2014-USA E		4.373	%		9/15/37		13,470,000		7,544,961	(a)
CSMC Trust, 2015-2R 7A1		4.107	%		8/27/36		1,109,462		1,107,793	(a)(c)
CSMC Trust, 2015-4R 3A3 (1 mo. USD LIBOR + 0.310%)		4.211	%		10/27/36		36,812,236		14,750,291	(a)(c)
CSMC Trust, 2017-CHOP G (1 mo. USD LIBOR + 5.350%)		10.034	%		7/15/32		23,400,000		20,940,709	(a)(c)
CSMC Trust, 2017-TIME A		3.646	%		11/13/39		21,200,000		18,018,153	(a)
CSMC Trust, 2018-J1 A2		3.500	%		2/25/48		34,407,209		30,956,345	(a)(c)
CSMC Trust, 2020-522F A (1 mo. Term SOFR + 3.853%)		8.681	%		9/16/25		47,520,000		41,414,875	(a)(c)
CSMC Trust, 2020-FACT F (1 mo. USD LIBOR + 6.157%)		10.841	%		10/15/37		7,990,000		6,681,729	(a)(c)
CSMC Trust, 2020-RPL3 A1		2.691	%		3/25/60		158,950		156,113	(a)(c)
CSMC Trust, 2020-RPL6 A1		2.688	%		3/25/59		27,435,355		26,609,120	(a)(c)
CSMC Trust, 2021-4SZN A (1 mo. Term SOFR + 3.967%)		8.795	%		11/15/23		50,000,000		48,198,635	(a)(c)
CSMC Trust, 2021-RPL1 A1		1.668	%		9/27/60		12,827,085		12,284,293	(a)(c)
CSMC Trust, 2021-RPL2 A1		2.000	%		1/25/60		13,101,263		11,155,670	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         55

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
CSMC Trust, 2022-7R 1A1 (30 Day Average SOFR + 2.500%)		6.811	%		10/25/66		43,480,503	$	43,371,958	(a)(c)
CSMC Trust, 2022-CNTR A (1 mo. Term SOFR + 3.944%)		8.772	%		1/15/24		33,000,000		29,669,302	(a)(c)
CSMC Trust, 2022-MARK XCP, IO		0.064	%		6/15/39		131,200,000		57,905	(a)(c)
DBCG Mortgage Trust, 2017-BBG A (1 mo. USD LIBOR + 0.700%)		5.385	%		6/15/34		20,260,000		19,966,980	(a)(c)
Extended Stay America Trust, 2021-ESH A (1 mo. USD LIBOR + 1.080%)		5.765	%		7/15/38		13,100,500		12,717,780	(a)(c)
Extended Stay America Trust, 2021-ESH E (1 mo. USD LIBOR + 2.850%)		7.535	%		7/15/38		7,223,822		6,847,613	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR02 BX, IO		1.666	%		8/27/28		15,503,008		1,145,752	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR07 AX, IO		2.468	%		9/27/28		34,072,000		3,757,092	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily PC REMIC Trust, 2019-RR01 X, IO		1.534	%		6/25/28		22,500,000		1,475,227	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K-154 X1, IO		0.527	%		1/25/33		39,238,000		1,230,402	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K104 XAM, IO		1.386	%		1/25/30		15,496,000		1,218,994	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K123 X1, IO		0.773	%		12/25/30		27,854,594		1,285,091	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K137 X1, IO		0.199	%		11/25/31		15,029,888		209,327	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K743 X1, IO		0.925	%		5/25/28		75,931,383		3,009,153	(c)

See Notes to Schedule of Investments.

    56     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K095 XAM, IO		1.240	%		6/25/29		6,300,000	$	413,621	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K101 X1, IO		0.835	%		10/25/29		20,531,783		908,527	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K110 X1, IO		1.697	%		4/25/30		36,554,660		3,325,611	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K116 X1, IO		1.425	%		7/25/30		9,334,317		740,038	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K133 X1, IO		0.348	%		9/25/31		85,057,233		2,068,822	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K142 X1, IO		0.297	%		3/25/32		69,283,307		1,582,070	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K143 X1, IO		0.342	%		4/25/55		6,995,024		186,423	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K145 X1, IO		0.317	%		6/25/55		71,595,357		1,822,667	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K146 X1, IO		0.230	%		6/25/54		67,230,537		1,344,187	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K147 X1, IO		0.357	%		6/25/32		24,980,599		736,660	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         57

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K149 X1, IO		0.264	%		8/25/32		295,492,232	$	6,920,990	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K736 X1, IO		1.287	%		7/25/26		19,357,399		664,737	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K737 X1, IO		0.637	%		10/25/26		42,972,998		756,174	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K741 X1, IO		0.570	%		12/25/27		43,062,811		954,367	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K742 X1, IO		0.779	%		3/25/28		20,480,644		543,622	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K1517 X1, IO		1.324	%		7/25/35		18,226,794		2,015,697	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K1520 X1, IO		0.472	%		2/25/36		12,967,812		529,905	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, KC05 X1, IO		1.212	%		6/25/27		12,146,163		363,448	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Reference REMIC, R007 ZA		6.000	%		5/15/36		3,266,275		3,444,084
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 2957 ZA, PAC		5.000	%		3/15/35		5,088,010		5,162,818
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3242 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.290%)		1.606	%		11/15/36		604,241		59,232	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3281 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.430%)		1.746	%		2/15/37		3,323,804		331,809	(c)

See Notes to Schedule of Investments.

    58     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3368 AI, IO (-1.000 x 1 mo. USD LIBOR + 6.030%)		1.346	%		9/15/37		962,354	$	78,400	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3422 AI, IO, Step bond (4.650% to 6/1/26 then 5.650%)		0.250	%		1/15/38		374,104		3,232
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3621 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.230%)		1.546	%		1/15/40		1,262,841		127,041	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3639 EY		5.000	%		2/15/30		1,736,499		1,753,957
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3768 MB, PAC-1		4.000	%		12/15/39		16,362		16,325
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3947 SG, IO (-1.000 x 1 mo. USD LIBOR + 5.950%)		1.266	%		10/15/41		2,224,396		210,781	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3973 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.490%)		1.806	%		12/15/41		2,269,767		274,019	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4054 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		1.366	%		8/15/39		1,697,384		143,991	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4099 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		1.316	%		8/15/42		610,032		68,914	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4119 IN, IO		3.500	%		10/15/32		1,603,600		152,039
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4146 DI, IO		3.000	%		12/15/31		1,150,755		59,825
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4203 PS, IO, PAC (-1.000 x 1 mo. USD LIBOR + 6.250%)		1.566	%		9/15/42		1,114,970		92,451	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4239 IO, IO		3.500	%		6/15/27		790,768		31,272
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4298 PI, IO, PAC		4.000	%		4/15/43		215,800		8,869
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4415 IO, IO		0.000	%		4/15/41		2,293,462		100,193	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         59

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CB		3.000	%		5/15/48		8,214,795	$	7,590,004
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CD		3.000	%		6/15/48		5,559,906		5,104,321
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4813 CJ		3.000	%		8/15/48		4,424,997		3,938,426
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 IK, IO		2.500	%		9/25/50		8,436,188		1,235,467
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 JI, IO		2.500	%		9/25/50		23,091,666		3,629,442
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5013 IN, IO		2.500	%		9/25/50		9,382,336		1,436,697
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5018 MI, IO		2.000	%		10/25/50		17,783,712		2,404,744
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5040 IB, IO		2.500	%		11/25/50		5,498,520		809,290
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5059 IB, IO		2.500	%		1/25/51		27,987,369		4,440,929
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5069 MI, IO		2.500	%		2/25/51		6,657,684		989,574
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5085 NI, IO		2.000	%		3/25/51		9,927,370		1,117,271
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5140 NI, IO		2.500	%		5/25/49		33,829,238		4,691,973
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5148 BI, IO		2.500	%		1/25/49		6,348,106		808,516
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5148 CI, IO		2.000	%		6/25/49		3,155,121		338,903
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5224 HL, PAC		4.000	%		4/25/52		13,209,410		12,502,965
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5230 PE		2.000	%		12/25/51		8,600,000		6,943,214
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4391 MZ		3.000	%		9/15/44		9,804,388		8,794,147
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5274 IO, IO		2.500	%		1/25/51		21,339,675		3,369,857
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA6 M1B (30 Day Average SOFR + 3.700%)		8.260	%		9/25/42		5,000,000		5,093,824	(a)(c)

See Notes to Schedule of Investments.

    60     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA5 B1 (30 Day Average SOFR + 4.800%)		9.360	%		10/25/50		18,832,000	$	19,869,760	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA5 M2 (30 Day Average SOFR + 2.800%)		7.360	%		10/25/50		16,338,376		16,531,241	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2020-DNA6 M2 (30 Day Average SOFR + 2.000%)		6.560	%		12/25/50		27,905,920		27,939,033	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA1 M2 (30 Day Average SOFR + 1.800%)		6.360	%		1/25/51		27,426,506		27,064,884	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA5 B1 (30 Day Average SOFR + 3.050%)		7.610	%		1/25/34		11,560,000		10,649,502	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA2 M1B (30 Day Average SOFR + 2.400%)		6.960	%		2/25/42		32,190,000		31,311,013	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Seasoned Credit Risk Transfer Trust, 2017-2 M1		4.000	%		8/25/56		16,324,732		15,932,719	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 283 IO, IO		3.500	%		10/15/27		223,961		9,862
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 328 S4, IO		0.000	%		2/15/38		505,569		21,543	(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 334 S7, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		1.416	%		8/15/44		4,020,500		479,797	(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 353 S1, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		1.316	%		12/15/46		10,452,536		1,120,973	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         61

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2021-DNA2 B1 (30 Day Average SOFR + 3.400%)		7.960	%		8/25/33		13,640,000	$	13,012,114	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2018-DNA1 B1 (1 mo. USD LIBOR + 3.150%)		7.995	%		7/25/30		10,790,000		10,878,022	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2021-DNA2 M2 (30 Day Average SOFR + 2.300%)		6.860	%		8/25/33		33,444,000		32,967,577	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA5 M1B (30 Day Average SOFR + 4.500%)		9.060	%		6/25/42		33,000,000		34,287,614	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2014-C03 1M2 (1 mo. USD LIBOR + 3.000%)		7.845	%		7/25/24		22,582,163		23,034,655	(c)
Federal National Mortgage Association (FNMA) - CAS, 2015-C03 1M2 (1 mo. USD LIBOR + 5.000%)		9.845	%		7/25/25		5,204,679		5,444,464	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2017-C07 1B1 (1 mo. USD LIBOR + 4.000%)		8.845	%		5/25/30		12,183,000		12,764,614	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C01 1B1 (1 mo. USD LIBOR + 3.550%)		8.395	%		7/25/30		13,830,000		14,268,581	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C03 1B1 (1 mo. USD LIBOR + 3.750%)		8.595	%		10/25/30		21,245,000		22,019,559	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2018-C05 1B1 (1 mo. USD LIBOR + 4.250%)		9.095	%		1/25/31		27,202,000		28,689,378	(a)(c)

See Notes to Schedule of Investments.

    62     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal National Mortgage Association (FNMA) - CAS, 2018-R07 1B1 (1 mo. USD LIBOR + 4.350%)		9.195	%		4/25/31		8,100,000	$	8,402,139	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2019-R05 1B1 (1 mo. USD LIBOR + 4.100%)		8.945	%		7/25/39		4,443,994		4,495,196	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2022-R07 1M1 (30 Day Average SOFR + 2.950%)		7.518	%		6/25/42		14,777,818		15,053,666	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2022-R08 1M2 (30 Day Average SOFR + 3.600%)		8.160	%		7/25/42		3,000,000		3,005,308	(a)(c)
Federal National Mortgage Association (FNMA) ACES, 2013-M6 1AC		3.353	%		2/25/43		1,169,694		1,118,146	(c)
Federal National Mortgage Association (FNMA) ACES, 2017-M8 A2		3.061	%		5/25/27		3,320,982		3,173,107	(c)
Federal National Mortgage Association (FNMA) ACES, 2018-M9 APT2		3.106	%		4/25/28		2,068,230		1,968,460	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M4 A2		3.610	%		2/25/31		5,042,922		4,844,165
Federal National Mortgage Association (FNMA) ACES, 2019-M5 A2		3.273	%		2/25/29		9,830,470		9,356,210
Federal National Mortgage Association (FNMA) ACES, 2019-M6 A2		3.450	%		1/1/29		6,020,366		5,811,509
Federal National Mortgage Association (FNMA) ACES, 2019-M13 X1, IO		0.826	%		6/25/34		11,685,330		520,763	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M14 X1, IO		0.560	%		6/25/29		52,145,481		1,395,267	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         63

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal National Mortgage Association (FNMA) ACES, 2019-M19 A2		2.560	%		9/25/29		6,082,690	$	5,552,117
Federal National Mortgage Association (FNMA) ACES, 2019-M23 3A3		2.720	%		10/25/31		6,878,207		6,131,119	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M28 AV		2.232	%		2/25/27		10,413,781		9,791,763
Federal National Mortgage Association (FNMA) ACES, 2020-M6 A		2.500	%		10/25/37		3,383,805		2,973,342
Federal National Mortgage Association (FNMA) ACES, 2020-M36 X1, IO		1.498	%		9/25/34		40,285,804		2,724,807	(c)
Federal National Mortgage Association (FNMA) REMIC, 2005-88 IP, IO		0.128	%		10/25/35		1,212,239		61,166	(c)
Federal National Mortgage Association (FNMA) REMIC, 2006-28 IP, IO		0.388	%		3/25/36		702,675		30,506	(c)
Federal National Mortgage Association (FNMA) REMIC, 2006-59 IP, IO		0.955	%		7/25/36		1,651,058		131,988	(c)
Federal National Mortgage Association (FNMA) REMIC, 2006-118 IP1, IO		4.365	%		12/25/36		1,778,617		132,161	(c)
Federal National Mortgage Association (FNMA) REMIC, 2006-118 IP2, IO		4.733	%		12/25/36		2,170,823		120,668	(c)
Federal National Mortgage Association (FNMA) REMIC, 2010-27 AS, IO (-1.000 x 1 mo. USD LIBOR + 6.480%)		1.635	%		4/25/40		935,651		111,172	(c)
Federal National Mortgage Association (FNMA) REMIC, 2010-123 PM, PAC		4.000	%		7/25/40		5,159,147		5,077,696
Federal National Mortgage Association (FNMA) REMIC, 2011-59 NZ		5.500	%		7/25/41		491,406		508,017

See Notes to Schedule of Investments.

    64     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2011-99 KS, IO (-1.000 x 1 mo. USD LIBOR + 6.700%)		1.855	%		10/25/26		233,147	$	5,339	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-28 B		6.500	%		6/25/39		165,575		169,590
Federal National Mortgage Association (FNMA) REMIC, 2012-035 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.500%)		1.655	%		4/25/42		1,168,128		140,406	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-046 BA		6.000	%		5/25/42		1,896,850		2,020,351
Federal National Mortgage Association (FNMA) REMIC, 2012-51 B		7.000	%		5/25/42		2,830,914		3,070,834
Federal National Mortgage Association (FNMA) REMIC, 2012-074 OA, PO		0.000	%		3/25/42		174,843		156,580
Federal National Mortgage Association (FNMA) REMIC, 2012-074 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.650%)		1.805	%		3/25/42		1,982,028		129,014	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-75 AO, PO		0.000	%		3/25/42		104,619		93,355
Federal National Mortgage Association (FNMA) REMIC, 2012-75 NS, IO (-1.000 x 1 mo. USD LIBOR + 6.600%)		1.755	%		7/25/42		210,270		25,909	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-93 UI, IO		3.000	%		9/25/27		390,265		16,045
Federal National Mortgage Association (FNMA) REMIC, 2012-101 BI, IO		4.000	%		9/25/27		294,726		8,202
Federal National Mortgage Association (FNMA) REMIC, 2012-133 CS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		1.305	%		12/25/42		1,538,600		181,502	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         65

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2012-134 MS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		1.305	%		12/25/42		1,186,087	$	149,274	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-134 SK, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		1.305	%		12/25/42		3,862,635		445,244	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-9 BC		6.500	%		7/25/42		2,619,493		2,812,502
Federal National Mortgage Association (FNMA) REMIC, 2013-9 CB		5.500	%		4/25/42		7,165,209		7,375,275
Federal National Mortgage Association (FNMA) REMIC, 2013-9 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		1.305	%		3/25/42		2,156,131		128,524	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-14 IG, IO		4.000	%		3/25/43		2,124,403		351,195
Federal National Mortgage Association (FNMA) REMIC, 2013-026 HI, IO		3.000	%		4/25/32		135,349		5,811
Federal National Mortgage Association (FNMA) REMIC, 2013-29 QI, IO		4.000	%		4/25/43		2,140,348		358,000
Federal National Mortgage Association (FNMA) REMIC, 2013-54 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		1.305	%		6/25/43		2,819,224		349,553	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-124 SB, IO (-1.000 x 1 mo. USD LIBOR + 5.950%)		1.105	%		12/25/43		6,249,508		698,819	(c)
Federal National Mortgage Association (FNMA) REMIC, 2014-6 Z		2.500	%		2/25/44		8,612,356		7,494,335
Federal National Mortgage Association (FNMA) REMIC, 2014-47 AI, IO		0.000	%		8/25/44		2,495,917		116,934	(c)

See Notes to Schedule of Investments.

    66     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2015-55 IO, IO		0.000	%		8/25/55		5,004,109	$	187,839	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-56 AS, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		1.305	%		8/25/45		1,702,727		212,728	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-65 CZ		3.500	%		9/25/45		7,856,280		6,846,165
Federal National Mortgage Association (FNMA) REMIC, 2016-23 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.000%)		1.155	%		11/25/45		9,555,866		1,106,485	(c)
Federal National Mortgage Association (FNMA) REMIC, 2016-61 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		1.255	%		9/25/46		4,247,322		307,785	(c)
Federal National Mortgage Association (FNMA) REMIC, 2017-76 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		1.255	%		10/25/57		17,477,264		1,931,750	(c)
Federal National Mortgage Association (FNMA) REMIC, 2017-85 SC, IO (-1.000 x 1 mo. USD LIBOR + 6.200%)		1.355	%		11/25/47		5,840,706		575,657	(c)
Federal National Mortgage Association (FNMA) REMIC, 2020-47 GZ		2.000	%		7/25/50		13,628,750		8,393,774
Federal National Mortgage Association (FNMA) REMIC, 2020-56 AQ		2.000	%		8/25/50		27,754,501		21,472,816
Federal National Mortgage Association (FNMA) REMIC, 2020-56 DI, IO		2.500	%		8/25/50		17,872,185		2,760,643
Federal National Mortgage Association (FNMA) REMIC, 2020-74 EI, IO		2.500	%		10/25/50		7,809,943		1,287,713
Federal National Mortgage Association (FNMA) REMIC, 2020-89 DI, IO		2.500	%		12/25/50		50,377,324		7,345,946

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         67

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2020-97 AI, IO		2.000	%		1/25/51		19,944,531	$	2,708,491
Federal National Mortgage Association (FNMA) REMIC, 2021-1 IG, IO		2.500	%		2/25/51		6,549,082		1,077,122
Federal National Mortgage Association (FNMA) REMIC, 2021-3 QI, IO		2.500	%		2/25/51		39,867,529		6,039,129
Federal National Mortgage Association (FNMA) STRIPS, 384 14, IO		5.500	%		1/25/40		275,327		51,554
Federal National Mortgage Association (FNMA) STRIPS, 427 C73, IO		3.000	%		12/25/48		54,822,040		8,850,404
Federal National Mortgage Association (FNMA) STRIPS, 390 C3, IO		6.000	%		7/25/38		515,376		112,766
Federal National Mortgage Association (FNMA) STRIPS, 407 22, IO		5.000	%		1/25/39		237,721		47,632
Federal National Mortgage Association (FNMA) STRIPS, 407 23, IO		5.000	%		1/25/39		124,640		25,008	(c)
Federal National Mortgage Association (FNMA) STRIPS, 407 27, IO		5.500	%		1/25/39		104,315		22,679	(c)
Federal National Mortgage Association (FNMA) STRIPS, 407 34, IO		5.000	%		1/25/38		159,059		27,491
Federal National Mortgage Association (FNMA) STRIPS, 407 41, IO		6.000	%		1/25/38		727,660		159,007
Federal National Mortgage Association (FNMA) STRIPS, 409 C1, IO		3.000	%		11/25/26		1,004,478		33,964
Federal National Mortgage Association (FNMA) STRIPS, 409 C2, IO		3.000	%		4/25/27		57,910		2,349
Federal National Mortgage Association (FNMA) STRIPS, 409 C13, IO		3.500	%		11/25/41		1,697,129		271,335

See Notes to Schedule of Investments.

    68     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Federal National Mortgage Association (FNMA) STRIPS, 409 C18, IO		4.000	%		4/25/42		1,272,498	$	237,891
Federal National Mortgage Association (FNMA) STRIPS, 409 C22, IO		4.500	%		11/25/39		586,884		109,465
First Horizon Alternative Mortgage Securities Trust, 2007-FA3 A1 (1 mo. USD LIBOR + 0.330%)		5.175	%		6/25/37		6,741,387		1,893,031	(c)
Flagstar Mortgage Trust, 2018-2 A4		3.500	%		4/25/48		705,857		687,917	(a)(c)
Freddie Mac Multifamily ML Certificates, 2020-ML07 XUS, IO		1.970	%		10/25/36		33,451,806		5,048,881	(a)(c)
FREMF Mortgage Trust, 2019-K103 X2A, IO		0.100	%		12/25/51		686,394,953		3,524,501	(a)
Government National Mortgage Association (GNMA), 2006-16 GS, IO (-1.000 x 1 mo. USD LIBOR + 6.990%)		2.229	%		4/20/36		323,228		23,437	(c)
Government National Mortgage Association (GNMA), 2007-51 SG, IO (-1.000 x 1 mo. USD LIBOR + 6.580%)		1.819	%		8/20/37		1,268,640		47,265	(c)
Government National Mortgage Association (GNMA), 2010-42 BS, IO (-1.000 x 1 mo. USD LIBOR + 6.480%)		1.719	%		4/20/40		190,387		21,800	(c)
Government National Mortgage Association (GNMA), 2010-85 HS, IO, PAC (-1.000 x 1 mo. USD LIBOR + 6.650%)		1.889	%		1/20/40		24,074		211	(c)
Government National Mortgage Association (GNMA), 2010-116 MH		5.000	%		7/20/40		20,932,443		21,215,215
Government National Mortgage Association (GNMA), 2010-118 IO, IO		0.000	%		4/16/53		794,749		8	(c)
Government National Mortgage Association (GNMA), 2010-H10 FC (1 mo. USD LIBOR + 1.000%)		5.635	%		5/20/60		225,800		226,258	(c)
Government National Mortgage Association (GNMA), 2010-H26 LF (1 mo. USD LIBOR + 0.350%)		4.916	%		8/20/58		656,344		651,775	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         69

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Government National Mortgage Association (GNMA), 2010-H27 FA (1 mo. USD LIBOR + 0.380%)		4.946	%		12/20/60		198,330	$	196,973	(c)
Government National Mortgage Association (GNMA), 2010-H28 FE (1 mo. USD LIBOR + 0.400%)		4.966	%		12/20/60		2,785,924		2,768,044	(c)
Government National Mortgage Association (GNMA), 2011-140 AI, IO		4.000	%		10/16/26		51,302		5
Government National Mortgage Association (GNMA), 2011-H06 FA (1 mo. USD LIBOR + 0.450%)		5.016	%		2/20/61		1,018,120		1,012,229	(c)
Government National Mortgage Association (GNMA), 2011-H08 FG (1 mo. USD LIBOR + 0.480%)		5.046	%		3/20/61		2,674,982		2,660,331	(c)
Government National Mortgage Association (GNMA), 2011-H09 AF (1 mo. USD LIBOR + 0.500%)		5.066	%		3/20/61		2,120,619		2,110,722	(c)
Government National Mortgage Association (GNMA), 2012-34 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.050%)		1.289	%		3/20/42		880,636		98,464	(c)
Government National Mortgage Association (GNMA), 2012-81 AI, IO		3.500	%		4/20/27		211,803		3,463
Government National Mortgage Association (GNMA), 2012-98 SA, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		1.372	%		8/16/42		1,479,137		160,496	(c)
Government National Mortgage Association (GNMA), 2012-152 IO, IO		0.610	%		1/16/54		21,912,529		360,001	(c)
Government National Mortgage Association (GNMA), 2013-50 IO, IO		0.064	%		10/16/48		22,252,151		30,094	(c)
Government National Mortgage Association (GNMA), 2013-72 IO, IO		0.570	%		11/16/47		8,013,855		103,452	(c)
Government National Mortgage Association (GNMA), 2013-107 AD		2.844	%		11/16/47		3,255,234		2,967,117	(c)
Government National Mortgage Association (GNMA), 2013-150 IA, IO		0.000	%		11/20/42		994,096		24,229	(c)

See Notes to Schedule of Investments.

    70     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Government National Mortgage Association (GNMA), 2014-17 AM		3.537	%		6/16/48		240,652	$	231,524	(c)
Government National Mortgage Association (GNMA), 2014-160 EI, IO		4.000	%		7/16/26		964,526		24,850
Government National Mortgage Association (GNMA), 2014-176 IA, IO		4.000	%		11/20/44		313,831		55,772
Government National Mortgage Association (GNMA), 2016-21 ST, IO (-1.000 x 1 mo. USD LIBOR + 6.150%)		1.389	%		2/20/46		12,325,833		1,493,587	(c)
Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC		4.500	%		11/16/45		2,331,881		463,844
Government National Mortgage Association (GNMA), 2016-135 SB, IO (-1.000 x 1 mo. USD LIBOR + 6.100%)		1.372	%		10/16/46		4,860,213		772,047	(c)
Government National Mortgage Association (GNMA), 2017-8 IO, IO		0.449	%		8/16/58		12,388,957		322,457	(c)
Government National Mortgage Association (GNMA), 2017-28 IO, IO		0.681	%		2/16/57		16,720,845		603,915	(c)
Government National Mortgage Association (GNMA), 2017-41 IO, IO		0.595	%		7/16/58		7,209,481		202,605	(c)
Government National Mortgage Association (GNMA), 2017-111 IO, IO		0.526	%		2/16/59		4,844,659		158,842	(c)
Government National Mortgage Association (GNMA), 2017-145 IO, IO		0.507	%		4/16/57		29,078,226		881,823	(c)
Government National Mortgage Association (GNMA), 2017-157 IO		0.503	%		12/16/59		3,717,933		119,257	(c)
Government National Mortgage Association (GNMA), 2017-H15 KI, IO		1.717	%		7/20/67		20,405,923		1,106,213	(c)
Government National Mortgage Association (GNMA), 2017-H18 BI, IO		0.163	%		9/20/67		16,087,967		692,812	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         71

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Government National Mortgage Association (GNMA), 2017-H20 IB, IO		0.153	%		10/20/67		8,313,910	$	396,011	(c)
Government National Mortgage Association (GNMA), 2017-H22 IC, IO		0.002	%		11/20/67		2,506,086		95,292	(c)
Government National Mortgage Association (GNMA), 2018-37 QA		2.750	%		3/20/48		3,108,272		2,808,185
Government National Mortgage Association (GNMA), 2018-H06 PF (1 mo. USD LIBOR + 0.300%)		4.866	%		2/20/68		7,960,891		7,879,198	(c)
Government National Mortgage Association (GNMA), 2018-H07 FD (1 mo. USD LIBOR + 0.300%)		4.866	%		5/20/68		14,113,727		14,071,760	(c)
Government National Mortgage Association (GNMA), 2018-H08 KF (1 mo. USD LIBOR + 0.300%)		4.866	%		5/20/68		7,387,324		7,312,652	(c)
Government National Mortgage Association (GNMA), 2018-H13 FC (1 mo. USD LIBOR + 0.300%)		4.866	%		7/20/68		5,012,051		4,957,565	(c)
Government National Mortgage Association (GNMA), 2018-H17 FG (12 mo. USD LIBOR + 0.250%)		3.765	%		10/20/68		4,025,528		3,971,988	(c)
Government National Mortgage Association (GNMA), 2019-90 AB		3.000	%		7/20/49		4,119,456		3,751,693
Government National Mortgage Association (GNMA), 2020-173 MI, IO		2.500	%		11/20/50		24,996,057		3,333,122
Government National Mortgage Association (GNMA), 2020-47 MI, IO, PAC		3.500	%		4/20/50		16,280,351		2,675,983
Government National Mortgage Association (GNMA), 2020-47 NI, IO, PAC		3.500	%		4/20/50		5,589,679		925,470
Government National Mortgage Association (GNMA), 2020-103 AD		1.450	%		1/16/63		25,969,579		20,651,950
Government National Mortgage Association (GNMA), 2020-109 AI, IO		0.840	%		5/16/60		23,684,843		1,406,070	(c)

See Notes to Schedule of Investments.

    72     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Government National Mortgage Association (GNMA), 2020-123 IL, IO		2.500	%		8/20/50		6,904,073	$	967,301
Government National Mortgage Association (GNMA), 2020-123 NI, IO		2.500	%		8/20/50		20,685,370		2,874,873
Government National Mortgage Association (GNMA), 2020-127 IN, IO		2.500	%		8/20/50		9,705,906		1,347,781
Government National Mortgage Association (GNMA), 2020-129 IE, IO		2.500	%		9/20/50		9,253,356		1,278,952
Government National Mortgage Association (GNMA), 2020-160 IH, IO		2.500	%		10/20/50		6,432,079		894,545
Government National Mortgage Association (GNMA), 2020-160 VI, IO		2.500	%		10/20/50		8,886,837		1,265,434
Government National Mortgage Association (GNMA), 2020-160 YI, IO		2.500	%		10/20/50		29,304,645		3,950,366
Government National Mortgage Association (GNMA), 2020-181 WI, IO		2.000	%		12/20/50		65,487,213		7,163,613
Government National Mortgage Association (GNMA), 2020-184, IO, IO		0.913	%		11/16/60		7,594,520		493,302	(c)
Government National Mortgage Association (GNMA), 2020-H09 FL (1 mo. USD LIBOR + 1.150%)		5.716	%		5/20/70		17,561,663		17,461,240	(c)
Government National Mortgage Association (GNMA), 2020-H09 NF (1 mo. USD LIBOR + 1.250%)		5.816	%		4/20/70		4,530,055		4,552,157	(c)
Government National Mortgage Association (GNMA), 2020-H12 F (1 mo. USD LIBOR + 0.500%)		5.066	%		7/20/70		1,688,031		1,641,691	(c)
Government National Mortgage Association (GNMA), 2020-H13 FA (1 mo. USD LIBOR + 0.450%)		5.016	%		7/20/70		5,715,668		5,530,635	(c)
Government National Mortgage Association (GNMA), 2020-H13 FC (1 mo. USD LIBOR + 0.450%)		5.016	%		7/20/70		2,192,677		2,123,897	(c)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Government National Mortgage Association (GNMA), 2020-H13 FM (1 mo. USD LIBOR + 0.400%)		4.966	%		8/20/70		52,209	$	51,744	(c)
Government National Mortgage Association (GNMA), 2021-14 AB		1.340	%		6/16/63		20,776,490		16,480,699
Government National Mortgage Association (GNMA), 2021-21 AH		1.400	%		6/16/63		39,746,394		31,617,342
Government National Mortgage Association (GNMA), 2021-191 NI, IO		3.000	%		10/20/51		1,605,844		273,462
Government National Mortgage Association (GNMA), 2021-29 TI, IO		2.500	%		2/20/51		469,014		82,008
Government National Mortgage Association (GNMA), 2021-37, IO, IO		0.805	%		1/16/61		21,911,862		1,332,259	(c)
Government National Mortgage Association (GNMA), 2021-60 IO, IO		0.826	%		5/16/63		32,246,183		2,023,806	(c)
Government National Mortgage Association (GNMA), 2021-68 IO, IO		0.870	%		10/16/62		29,188,981		1,876,177	(c)
Government National Mortgage Association (GNMA), 2021-110 IO, IO		0.872	%		11/16/63		9,549,685		660,251	(c)
Government National Mortgage Association (GNMA), 2021-115 MI, IO		2.500	%		5/20/51		3,835,414		423,161
Government National Mortgage Association (GNMA), 2021-133, IO, IO		0.880	%		7/16/63		21,470,775		1,463,208	(c)
Government National Mortgage Association (GNMA), 2022-3 B		1.850	%		2/16/61		3,300,000		1,905,768
Government National Mortgage Association (GNMA), 2022-3 IO, IO		0.640	%		2/16/61		9,199,307		526,010	(c)
Government National Mortgage Association (GNMA), 2022-4 Z		1.900	%		3/16/64		2,468,827		1,331,666
Government National Mortgage Association (GNMA), 2022-55 IO, IO		0.567	%		1/16/63		28,512,151		1,459,790	(c)
Government National Mortgage Association (GNMA), 2022-59 IO, IO		0.571	%		2/16/62		65,354,303		3,476,130	(c)
Government National Mortgage Association (GNMA), 2022-63 LM		3.500	%		10/20/50		11,700,000		10,206,253
Government National Mortgage Association (GNMA), 2022-139 AL		4.000	%		7/20/51		33,657,663		32,190,468

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Government National Mortgage Association (GNMA), 2022-147 B		2.200	%		10/16/63		5,600,000	$	4,356,792
Government National Mortgage Association (GNMA), 2022-189 PT		2.500	%		10/20/51		25,399,570		22,218,835
Government National Mortgage Association (GNMA), 2022-196 BE		3.000	%		10/16/64		16,429,514		12,961,313	(c)
Government National Mortgage Association (GNMA), 2022-210 IO, IO		0.694	%		7/16/64		10,864,822		751,825	(c)
Government National Mortgage Association (GNMA), 2022-216 IO, IO		0.751	%		7/16/65		21,962,385		1,505,374	(c)
Government National Mortgage Association (GNMA), 2022-220 E		3.000	%		10/16/64		14,200,000		11,357,948	(c)
GreenPoint Mortgage Funding Trust, 2005-AR4 1A2A (1 mo. USD LIBOR + 0.640%)		5.485	%		10/25/45		1,361,536		1,314,074	(c)
GreenPoint Mortgage Funding Trust, 2005-AR5 2A1 (1 mo. USD LIBOR + 0.560%)		5.405	%		11/25/45		11,098,886		6,670,779	(c)
GreenPoint Mortgage Funding Trust, 2006-AR3 3A1 (1 mo. USD LIBOR + 0.460%)		5.305	%		4/25/36		56,005		64,765	(c)
GS Mortgage Securities Corp. Trust, 2018-SRP5 A (1 mo. USD LIBOR + 1.800%)		6.484	%		9/15/31		126,724,698		105,815,072	(a)(c)
GS Mortgage Securities Corp. Trust, 2018-LUAU G (1 mo. USD LIBOR + 4.450%)		9.134	%		11/15/32		12,548,000		11,765,142	(a)(c)
GS Mortgage Securities Trust, 2013- GC16 B		5.161	%		11/10/46		4,302,000		4,227,814	(c)
GS Mortgage Securities Trust, 2015- GC30 B		4.025	%		5/10/50		16,340,000		14,931,551	(c)
GS Mortgage Securities Trust, 2017- GS8 A4		3.469	%		11/10/50		5,490,000		5,099,410
GS Mortgage Securities Trust, 2022- SROA A (1 mo. Term SOFR + 2.650%)		7.348	%		7/12/24		7,268,350		7,276,905	(a)(c)
GS Mortgage-Backed Securities Trust, 2022-NQM1 A4		4.000	%		5/25/62		25,153,525		22,897,294	(a)(c)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
GSR Mortgage Loan Trust, 2005-AR7 1A1		4.113	%		11/25/35		547,801	$	309,030	(c)
HarborView Mortgage Loan Trust, 2005-3 2A1A (1 mo. USD LIBOR + 0.480%)		5.241	%		6/19/35		1,475,040		1,376,962	(c)
HarborView Mortgage Loan Trust, 2005-7 1A1 (11th District Cost of Funds + 1.850%)		4.119	%		6/19/45		1,857,775		928,943	(c)
HarborView Mortgage Loan Trust, 2006-2 1A		4.525	%		2/25/36		459,645		147,013	(c)
HarborView Mortgage Loan Trust, 2006-13 A (1 mo. USD LIBOR + 0.180%)		4.941	%		11/19/46		97,559		67,521	(c)
HOMES Trust, 2023-NQM1 A1		6.182	%		1/25/68		24,149,981		24,094,455	(a)
Impac CMB Trust, 2005-7 A1 (1 mo. USD LIBOR + 0.520%)		5.365	%		11/25/35		1,349,234		1,169,695	(c)
Impac CMB Trust, 2007-A A (1 mo. USD LIBOR + 0.500%)		5.345	%		5/25/37		3,506,055		3,202,232	(a)(c)
IndyMac INDX Mortgage Loan Trust, 2005-AR13 1A1		3.393	%		8/25/35		105,525		50,742	(c)
Jefferies Resecuritization Trust, 2015-R1 A2 (1 mo. USD LIBOR + 0.140%)		0.000	%		12/26/36		14,413,799		7,380,154	(a)(c)
JPMBB Commercial Mortgage Securities Trust, 2013-C14 B		4.549	%		8/15/46		4,000,000		3,918,844	(c)
JPMBB Commercial Mortgage Securities Trust, 2013-C17 B		4.884	%		1/15/47		1,602,000		1,562,558	(c)
JPMBB Commercial Mortgage Securities Trust, 2014-C25 AS		4.065	%		11/15/47		5,930,000		5,686,198
JPMBB Commercial Mortgage Securities Trust, 2015-C30 B		4.230	%		7/15/48		19,921,000		18,688,984	(c)
JPMBB Commercial Mortgage Securities Trust, 2015-C31 B		4.623	%		8/15/48		10,543,000		9,842,130	(c)
JPMDB Commercial Mortgage Securities Trust, 2017-C5 A5		3.694	%		3/15/50		620,000		583,116
JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (1 mo. USD LIBOR + 3.750%)		8.434	%		5/15/28		10,175,200		9,421,188	(a)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2016-JP3 C		3.399	%		8/15/49		1,510,000		1,128,543	(c)

See Notes to Schedule of Investments.

    76     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
JPMorgan Chase Commercial Mortgage Securities Trust, 2007-LD12 AJ		6.201	%		2/15/51		887,454	$	791,342	(c)
JPMorgan Mortgage Trust, 2018-3 A1		3.500	%		9/25/48		5,798,865		5,205,248	(a)(c)
JPMorgan Mortgage Trust, 2018-4 A1		3.500	%		10/25/48		4,492,787		4,049,902	(a)(c)
JPMorgan Mortgage Trust, 2018-5 A1		3.500	%		10/25/48		7,122,323		6,372,470	(a)(c)
JPMorgan Resecuritization Trust, 2015-1 4A2		4.285	%		9/27/36		10,583,303		9,366,953	(a)(c)
Legacy Mortgage Asset Trust, 2019-GS7 A1, Step bond (6.250% to 10/25/23 then 7.250%)		6.250	%		11/25/59		50,842,844		50,818,993	(a)
Legacy Mortgage Asset Trust, 2020-GS5 A1, Step bond (3.250% to 8/25/23, 6.250% to 8/25/24 then 7.250%)		3.250	%		6/25/60		3,070,523		3,070,214	(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		21,850,367		20,335,315	(a)
Lehman Mortgage Trust, 2006-7 3A4, IO (-1.000 x 1 mo. USD LIBOR + 7.150%)		2.305	%		11/25/36		5,336,208		1,005,062	(c)
MASTR Adjustable Rate Mortgages Trust, 2004-6 5A1		5.113	%		7/25/34		67,551		63,716	(c)
MASTR Adjustable Rate Mortgages Trust, 2006-OA1 1A1 (1 mo. USD LIBOR + 0.210%)		5.055	%		4/25/46		74,925		63,715	(c)
MASTR Reperforming Loan Trust, 2005-1 1A1		6.000	%		8/25/34		1,231,200		834,009	(a)
MASTR Reperforming Loan Trust, 2005-1 1A3		7.000	%		8/25/34		1,575,911		1,214,914	(a)
MASTR Reperforming Loan Trust, 2005-2 1A1F (1 mo. USD LIBOR + 0.350%)		5.195	%		5/25/35		1,731,171		910,385	(a)(c)
Med Trust, 2021-MDLN E (1 mo. USD LIBOR + 3.150%)		7.835	%		11/15/38		36,022,981		33,918,659	(a)(c)
MHC Commercial Mortgage Trust, 2021-MHC E (1 mo. USD LIBOR + 2.101%)		6.785	%		4/15/38		159,000		149,529	(a)(c)

See Notes to Schedule of Investments.

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WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
ML-CFC Commercial Mortgage Trust, 2007-5 AJ		5.450	%		8/12/48		1,980,121	$	507,302	(c)
ML-CFC Commercial Mortgage Trust, 2007-5 AJFL		5.450	%		8/12/48		312,681		80,108	(a)(c)
ML-CFC Commercial Mortgage Trust, 2007-9 AJ		6.193	%		9/12/49		145,070		142,250	(c)
Morgan Stanley Mortgage Loan Trust, 2004-5AR 2A		3.543	%		7/25/34		8,221		7,338	(c)
Morgan Stanley Mortgage Loan Trust, 2005-3AR 2A2		2.999	%		7/25/35		517,254		440,485	(c)
Mortgage Loan Resecuritization Trust, 2009-RS1 A85 (1 mo. USD LIBOR + 0.340%)		5.002	%		4/16/36		28,528,885		26,908,610	(a)(c)
Multifamily Trust, 2016-1 B		2.543	%		4/25/46		1,298,782		1,300,405	(a)(c)
New Residential Mortgage Loan Trust, 2022-NQM4 A1, Step bond (5.000% to 6/1/26 then 6.000%)		5.000	%		6/25/62		14,682,464		14,432,387	(a)
Nomura Asset Acceptance Corp. Alternative Loan Trust, 2005-AP2 A5		5.476	%		5/25/35		45,661		24,059
Nomura Resecuritization Trust, 2015-5R 3A5 (1 mo. USD LIBOR + 0.260%)		4.035	%		2/26/46		8,622,364		6,706,519	(a)(c)
NYMT Loan Trust, 2020-SP2 A1		2.944	%		10/25/60		25,223,843		24,661,316	(a)(c)
NYMT Loan Trust, 2022-SP1 A1, Step bond (5.250% to 7/1/25, 8.250% to 7/1/26 then 9.250%)		5.250	%		7/25/62		41,795,951		41,892,959	(a)
PMT Credit Risk Transfer Trust, 2019-3R A (1 mo. USD LIBOR + 3.700%)		8.552	%		11/27/31		4,520,658		4,375,939	(a)(c)
PMT Credit Risk Transfer Trust, 2021-1R A (1 mo. USD LIBOR + 2.900%)		7.752	%		2/27/24		17,183,051		16,682,505	(a)(c)
Prime Mortgage Trust, 2006-1 3A2, IO (-1.000 x 1 mo. USD LIBOR + 7.150%)		2.305	%		6/25/36		6,611,683		808,215	(c)
Prime Mortgage Trust, 2006-DR1 2A2		6.000	%		5/25/35		19,198,839		15,829,137	(a)
PRKCM Trust, 2021-AFC1 A1		1.510	%		8/25/56		26,936,638		21,492,711	(a)(c)
PRKCM Trust, 2023-AFC1 A1		6.598	%		2/25/58		54,479,739		54,647,537	(a)
RAMP Trust, 2004-SL4 A5		7.500	%		7/25/32		356,551		154,933
RAMP Trust, 2005-SL1 A7		8.000	%		5/25/32		131,007		87,745

See Notes to Schedule of Investments.

    78     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
RBSGC Mortgage Loan Trust, 2007-B 1A4 (1 mo. USD LIBOR + 0.450%)		5.295	%		1/25/37		5,048,851	$	1,707,487	(c)
RBSSP Resecuritization Trust, 2009-12 9A2		3.852	%		3/25/36		4,351,692		3,857,047	(a)(c)
Redwood Funding Trust, 2019-1 PT, Step bond (4.468% to 7/29/23 then 4.968%)		4.468	%		9/27/24		27,369,655		27,256,071	(a)
Reperforming Loan REMIC Trust, 2006-R2 AS, IO		1.409	%		7/25/36		6,765,448		276,683	(a)(c)
Residential Asset Securitization Trust, 2004-A2 1A3, PAC (1 mo. USD LIBOR + 0.400%)		5.245	%		5/25/34		4,283		4,123	(c)
SCOTT Trust, 2023-SFS A		5.910	%		3/15/40		23,380,000		23,706,188	(a)
Shops at Crystals Trust, 2016-CSTL A		3.126	%		7/5/36		6,160,000		5,449,127	(a)
SHOW Trust, 2022 BIZ A (1 mo. Term SOFR + 2.984%)		3.034	%		1/15/24		15,000,000		14,754,403	(a)
Soho Trust, 2021-SOHO B		2.697	%		8/10/38		23,410,000		16,217,992	(a)(c)
Structured Adjustable Rate Mortgage Loan Trust, 2004-8 1A1		4.442	%		7/25/34		344		322	(c)
Structured Asset Mortgage Investments II Trust, 2006-AR6 1A1 (1 mo. USD LIBOR + 0.360%)		5.205	%		7/25/46		77,030		62,630	(c)
Structured Asset Mortgage Investments Trust, 2003-AR1 A1 (1 mo. USD LIBOR + 0.740%)		5.501	%		10/19/33		46,392		41,848	(c)
SunTrust Alternative Loan Trust, 2006-1F 3A (1 mo. USD LIBOR + 0.350%)		5.195	%		4/25/36		15,510,331		4,172,479	(c)
Towd Point Mortgage Trust, 2015-2 1B3		3.531	%		11/25/60		8,883,500		7,556,215	(a)(c)
Towd Point Mortgage Trust, 2019-HY2 A1 (1 mo. USD LIBOR + 1.000%)		5.845	%		5/25/58		15,281,412		15,104,843	(a)(c)
UBS Commercial Mortgage Trust, 2017-C1 A4		3.460	%		6/15/50		5,440,000		5,054,249
UBS Commercial Mortgage Trust, 2017-C3 A4		3.426	%		8/15/50		6,000,000		5,546,569
VLS Commercial Mortgage Trust, 2020-LAB A		2.130	%		10/10/42		64,690,000		50,834,321	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         79

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Wachovia Bank Commercial Mortgage Trust, 2007-C33 AJ		5.300	%		2/15/51		1,659,103		$	1,485,727	(c)
WaMu Mortgage Pass-Through Certificates Trust, 2003-AR9 1A7		4.157	%		9/25/33		3,726			3,388	(c)
WaMu Mortgage Pass-Through Certificates Trust, 2005-AR15 A1C3 (1 mo. USD LIBOR + 0.960%)		5.805	%		11/25/45		15,662,300			12,971,547	(c)
Waterfall Commercial Mortgage Trust, 2015-SBC5 A		4.104	%		12/31/23		2,164,161			2,129,579	(a)(c)
Wells Fargo Alternative Loan Trust, 2007-PA1 A12, IO (-1.000 x 1 mo. USD LIBOR + 5.460%)		0.615	%		3/25/37		5,873,989			305,255	(c)
Wells Fargo Alternative Loan Trust, 2007-PA2 2A1 (1 mo. USD LIBOR + 0.430%)		5.275	%		6/25/37		1,963,251			1,574,838	(c)
Wells Fargo Commercial Mortgage Trust, 2013-LC12 B		4.364	%		7/15/46		450,000			341,808	(c)
Wells Fargo Commercial Mortgage Trust, 2014-LC18 AS		3.808	%		12/15/47		5,630,000			5,356,290
Wells Fargo Commercial Mortgage Trust, 2017-C41 XA, IO		1.154	%		11/15/50		30,154,872			1,246,759	(c)
Wells Fargo Commercial Mortgage Trust, 2018-C44 A5		4.212	%		5/15/51		7,530,000			7,153,898
Wells Fargo Commercial Mortgage Trust, 2022-JS2 G		3.454	%		12/15/39		10,000,000			6,231,580	(a)(c)
WFRBS Commercial Mortgage Trust, 2014-C19 B		4.723	%		3/15/47		270,000			261,529	(c)
WFRBS Commercial Mortgage Trust, 2014-C19 XA, IO		0.961	%		3/15/47		28,520,478			145,839	(c)
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $3,013,392,510)										2,787,241,449
SOVEREIGN BONDS - 7.1%
Argentina - 0.2%
Argentine Bonos del Tesoro, Bonds		16.000	%		10/17/23		70,110,000	ARS		123,151	(e)
Argentine Republic Government International Bond, Senior Notes		1.000	%		7/9/29		5,149,404			1,453,623
Argentine Republic Government International Bond, Senior Notes, Step bond (0.500% to 7/9/23, 0.750% to 7/9/27 then 1.750%)		0.500	%		7/9/30		52,413,058			15,314,013

See Notes to Schedule of Investments.

    80     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Argentina - (continued)
Argentine Republic Government International Bond, Senior Notes, Step bond (3.500% to 7/9/29 then 4.875%)		3.500	%		7/9/41		22,200,000		$	6,322,234
Provincia de Buenos Aires, Senior Notes, Step bond (5.250% to 9/1/23, 6.375% to 9/1/24 then 6.625%)		5.250	%		9/1/37		61,333,394			21,731,341	(a)
Total Argentina										44,944,362
Brazil - 1.0%
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/27		350,000,000	BRL		64,858,015
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/33		370,741,000	BRL		62,326,482
Brazilian Government International Bond, Senior Notes		4.625	%		1/13/28		14,440,000			14,149,583
Brazilian Government International Bond, Senior Notes		5.625	%		1/7/41		6,984,000			6,196,849
Brazilian Government International Bond, Senior Notes		5.000	%		1/27/45		54,640,000			43,075,177
Brazilian Government International Bond, Senior Notes		5.625	%		2/21/47		27,670,000			23,370,815
Brazilian Government International Bond, Senior Notes		4.750	%		1/14/50		61,520,000			45,660,266
Total Brazil										259,637,187
Colombia - 0.2%
Colombia Government International Bond, Senior Notes		3.250	%		4/22/32		18,820,000			14,051,508
Colombia Government International Bond, Senior Notes		4.125	%		2/22/42		23,030,000			14,984,910
Colombia Government International Bond, Senior Notes		5.625	%		2/26/44		19,220,000			14,592,776
Colombia Government International Bond, Senior Notes		5.200	%		5/15/49		10,000,000			7,003,638
Total Colombia										50,632,832
Indonesia - 1.5%
Indonesia Government International Bond, Senior Notes		4.350	%		1/11/48		11,090,000			9,872,902
Indonesia Government International Bond, Senior Notes		3.700	%		10/30/49		3,160,000			2,513,064
Indonesia Treasury Bond		7.000	%		5/15/27		1,675,317,000,000	IDR		114,209,146

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         81

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Indonesia - (continued)
Indonesia Treasury Bond		6.500	%		2/15/31		3,650,281,000,000	IDR	$	242,102,401
Indonesia Treasury Bond		6.375	%		4/15/32		279,555,000,000	IDR		18,268,722
Total Indonesia										386,966,235
Israel - 0.1%
Israel Government International Bond, Senior Notes		2.750	%		7/3/30		14,340,000			12,991,094
State of Israel, Senior Notes		3.375	%		1/15/50		8,320,000			6,391,740
State of Israel, Senior Notes		3.800	%		5/13/60		5,000,000			3,894,910	(k)
Total Israel										23,277,744
Kenya - 0.1%
Republic of Kenya Government International Bond, Senior Notes		6.875	%		6/24/24		5,780,000			5,356,788	(k)
Republic of Kenya Government International Bond, Senior Notes		7.250	%		2/28/28		6,600,000			5,428,929	(a)
Republic of Kenya Government International Bond, Senior Notes		6.300	%		1/23/34		31,980,000			22,665,825	(a)
Total Kenya										33,451,542
Mexico - 3.7%
Mexican Bonos, Bonds		10.000	%		12/5/24		174,780,000	MXN		9,636,640
Mexican Bonos, Bonds		8.000	%		11/7/47		6,080,860,000	MXN		300,550,386
Mexican Bonos, Senior Notes		8.500	%		5/31/29		1,174,020,000	MXN		64,165,210
Mexican Bonos, Senior Notes		7.750	%		11/23/34		2,887,410,000	MXN		147,892,435
Mexican Bonos, Senior Notes		7.750	%		11/13/42		8,206,736,200	MXN		397,400,498
Mexico Government International Bond, Senior Notes		4.350	%		1/15/47		31,650,000			25,101,130
Mexico Government International Bond, Senior Notes		4.600	%		2/10/48		24,680,000			20,209,503
Mexico Government International Bond, Senior Notes		5.750	%		10/12/2110		9,190,000			8,247,284
Total Mexico										973,203,086
Nigeria - 0.0%††
Nigeria Government International Bond, Senior Notes		6.500	%		11/28/27		8,130,000			6,645,625	(a)
Nigeria Government International Bond, Senior Notes		7.143	%		2/23/30		9,270,000			7,092,013	(a)
Total Nigeria										13,737,638

See Notes to Schedule of Investments.

    82     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Panama - 0.1%
Panama Government International Bond, Senior Notes		2.252	%		9/29/32		39,170,000		$	30,117,025
Panama Government International Bond, Senior Notes		4.500	%		4/1/56		8,130,000			6,071,133
Total Panama										36,188,158
Paraguay - 0.0%††
Paraguay Government International Bond, Senior Notes		3.849	%		6/28/33		11,240,000			9,930,576	(a)
Peru - 0.1%
Peruvian Government International Bond, Senior Notes		2.783	%		1/23/31		14,240,000			12,189,693
Peruvian Government International Bond, Senior Notes		6.550	%		3/14/37		2,330,000			2,539,897
Peruvian Government International Bond, Senior Notes		5.625	%		11/18/50		14,280,000			14,427,875
Total Peru										29,157,465
Russia - 0.1%
Russian Federal Bond - OFZ		7.750	%		9/16/26		256,110,000	RUB		164,913	*(d)
Russian Federal Bond - OFZ		8.150	%		2/3/27		2,696,040,000	RUB		1,736,021	*(d)
Russian Federal Bond - OFZ		7.050	%		1/19/28		9,423,889,000	RUB		6,068,184	*(d)
Russian Federal Bond - OFZ		6.900	%		5/23/29		5,316,800,000	RUB		3,423,567	*(d)
Russian Federal Bond - OFZ		7.650	%		4/10/30		7,332,630,000	RUB		4,721,591	*(d)
Russian Federal Bond - OFZ		7.250	%		5/10/34		309,130,000	RUB		199,053	*(d)
Russian Federal Bond - OFZ		7.700	%		3/16/39		5,422,870,000	RUB		3,491,867	*(d)
Total Russia										19,805,196
Uruguay - 0.0%††
Uruguay Government International Bond, Senior Notes		7.875	%		1/15/33		1			1
TOTAL SOVEREIGN BONDS (Cost - $2,546,954,121)										1,880,932,022
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 6.2%
U.S. Government Obligations - 6.2%
Department of Housing and Urban Development, Notes		2.850	%		8/1/24		4,537,000			4,442,087
U.S. Treasury Bonds		1.125	%		8/15/40		102,827,000			68,054,604
U.S. Treasury Bonds		2.250	%		5/15/41		116,890,000			92,929,833
U.S. Treasury Bonds		1.750	%		8/15/41		214,870,000			155,747,177
U.S. Treasury Bonds		2.000	%		11/15/41		54,120,000			40,889,140
U.S. Treasury Bonds		4.000	%		11/15/42		240,890,000			247,514,475
U.S. Treasury Bonds		3.625	%		8/15/43		8,740,000			8,490,774	(l)
U.S. Treasury Bonds		3.625	%		2/15/44		262,096,000			253,751,927	(g)(m)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         83

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
U.S. Government Obligations - (continued)
U.S. Treasury Bonds		3.125	%		8/15/44		12,600,000	$	11,251,898
U.S. Treasury Bonds		2.875	%		8/15/45		437,120,000		372,841,163	(l)(m)
U.S. Treasury Bonds		3.375	%		11/15/48		28,670,000		26,834,448
U.S. Treasury Bonds		2.000	%		2/15/50		42,890,800		30,425,661
U.S. Treasury Bonds		1.250	%		5/15/50		114,650,000		66,720,925
U.S. Treasury Bonds		1.375	%		8/15/50		300,310,000		180,526,194
U.S. Treasury Bonds		2.375	%		5/15/51		34,780,000		26,721,501
U.S. Treasury Notes		4.625	%		3/15/26		5,100,000		5,216,543
U.S. Treasury Notes		4.000	%		2/29/28		1,350,000		1,374,522
U.S. Treasury Strip Principal (STRIPS)		0.000	%		11/15/24		6,080,000		5,690,705
U.S. Treasury Strip Principal (STRIPS)		0.000	%		5/15/49		152,060,000		58,491,392
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $2,067,739,968)									1,657,914,969
						FACE AMOUNT†/ UNITS
ASSET-BACKED SECURITIES - 3.2%
AccessLex Institute, 2004-A B1 (28 day Auction Rate Security)		6.135	%		7/1/39		1,275,000		1,187,837	(c)
Applebee’s Funding LLC/IHOP Funding LLC, 2019-1A A2I		4.194	%		6/5/49		23,789,700		23,324,274	(a)
Avis Budget Rental Car Funding AESOP LLC, 2019-3A A		2.360	%		3/20/26		16,770,000		15,914,415	(a)
Avis Budget Rental Car Funding AESOP LLC, 2020-1A D		3.340	%		8/20/26		5,000,000		4,383,937	(a)
Avis Budget Rental Car Funding AESOP LLC, 2021-1A A		1.380	%		8/20/27		8,010,000		7,112,093	(a)
Avis Budget Rental Car Funding AESOP LLC, 2022-3A A		4.620	%		2/20/27		7,110,000		6,993,548	(a)
Avis Budget Rental Car Funding AESOP LLC, 2023-1A A		5.250	%		4/20/29		27,050,000		27,173,104	(a)
Bear Stearns Asset Backed Securities Trust, 2005-CL1 A1		3.248	%		9/25/34		604,125		584,010	(c)
Brazos Student Finance Corp., 2009-1 AS (3 mo. USD LIBOR + 2.500%)		7.634	%		12/27/39		37,827		37,894	(c)
CIT Mortgage Loan Trust, 2007-1 1M1 (1 mo. USD LIBOR + 1.500%)		6.345	%		10/25/37		23,685,000		22,713,413	(a)(c)

See Notes to Schedule of Investments.

    84     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
CIT Mortgage Loan Trust, 2007-1 1M2 (1 mo. USD LIBOR + 1.750%)		6.595	%		10/25/37		108,930,000	$	96,411,394	(a)(c)
College Ave Student Loans LLC, 2019-A A1 (1 mo. USD LIBOR + 1.400%)		6.245	%		12/28/48		14,231,529		13,995,834	(a)(c)
Conseco Finance Corp., 1996-5 B1		8.100	%		7/15/26		269,023		323	(c)
Conseco Finance Corp., 1999-3 A9		6.530	%		2/1/31		7,054,374		6,057,016	(c)
Countrywide Home Equity Loan Trust, 2006-HW 2A1B (1 mo. USD LIBOR + 0.150%)		4.834	%		11/15/36		241,616		211,040	(c)
Countrywide Home Equity Loan Trust, 2006-I 2A (1 mo. USD LIBOR + 0.140%)		4.824	%		1/15/37		1,878,955		1,666,122	(c)
Credit Suisse European Mortgage Capital Ltd., 2019-1OTF A (3 mo. USD LIBOR + 2.900%)		7.702	%		8/9/24		54,992,025		53,985,185	(a)(c)
Credit Suisse European Mortgage Capital Ltd., 2020-1OTF A (3 mo. USD LIBOR + 2.900%)		6.580	%		10/25/45		59,501,709		58,171,845	(a)
DB Master Finance LLC, 2021-1A A23		2.791	%		11/20/51		35,461,125		28,738,802	(a)
Dividend Solar Loans LLC, 2018-2 B		4.250	%		12/20/38		390,485		326,578	(a)
ECMC Group Student Loan Trust, 2020-2A A (1 mo. USD LIBOR + 1.150%)		5.995	%		11/25/69		6,825,436		6,744,441	(a)(c)
EFS Volunteer No 2 LLC, 2012-1 A2 (1 mo. USD LIBOR + 1.350%)		6.195	%		3/25/36		4,446,425		4,438,434	(a)(c)
Fannie Mae Grantor Trust, 2017-T1 A		2.898	%		6/25/27		3,983,148		3,756,108
Ford Credit Floorplan Master Owner Trust, 2018-4 A		4.060	%		11/15/30		48,520,000		47,021,275
FS Rialto Issuer LLC, 2022-FL6 A (1 mo. Term SOFR + 2.580%)		7.271	%		8/17/37		10,000,000		10,054,507	(a)(c)
GMAC Mortgage Corp. Loan Trust, 2004-HE3 A2VN (1 mo. USD LIBOR + 0.500%)		5.345	%		10/25/34		1,005,419		994,126	(a)(c)
GSRPM Mortgage Loan Trust, 2007-1 A (1 mo. USD LIBOR + 0.400%)		5.245	%		10/25/46		4,422,322		3,693,928	(a)(c)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         85

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
Hertz Vehicle Financing LLC, 2021-1A A		1.210	%		12/26/25		1,660,000	$	1,555,167	(a)
Hertz Vehicle Financing LP, 2021-2A A		1.680	%		12/27/27		61,540,000		54,614,670	(a)
Hildene Community Funding CDO Ltd., 2015-1A ARR		2.600	%		11/1/35		40,578,820		32,738,366	(a)
J.G. Wentworth XLI LLC, 2018-1A A		3.740	%		10/17/72		6,409,016		5,703,477	(a)
Jimmy Johns Funding LLC, 2017-1A A2II		4.846	%		7/30/47		6,280,505		5,900,755	(a)
Loanpal Solar Loan Ltd., 2020-3GS A		2.470	%		12/20/47		20,470,359		16,173,901	(a)
Loanpal Solar Loan Ltd., 2021-1GS A		2.290	%		1/20/48		6,333,129		5,014,690	(a)
Long Beach Mortgage Loan Trust, 2006-9 2A3 (1 mo. USD LIBOR + 0.320%)		5.165	%		10/25/36		3,092,615		976,759	(c)
MF1 LLC, 2022-FL10 A (1 mo. Term SOFR + 2.635%)		7.391	%		9/17/37		15,590,000		15,717,186	(a)(c)
Morgan Stanley ABS Capital I Inc. Trust, 2003-HE3 M1 (1 mo. USD LIBOR + 1.020%)		5.865	%		10/25/33		64,254		62,984	(c)
Morgan Stanley Resecuritization Trust, 2015-R7 1BXA		7.060	%		2/26/29		14,791,963		13,709,901	(a)(c)
National Collegiate Student Loan Trust, 2005-2 A51 (1 mo. USD LIBOR + 0.370%)		5.215	%		6/25/33		10,402,187		9,728,447	(c)
National Collegiate Student Loan Trust, 2006-1 A5 (1 mo. USD LIBOR + 0.350%)		5.195	%		3/25/33		5,953,357		5,549,423	(c)
National Collegiate Student Loan Trust, 2006-4 A4 (1 mo. USD LIBOR + 0.310%)		5.155	%		5/25/32		2,286,642		2,159,799	(c)
Navient Private Education Refi Loan Trust, 2020-GA A		1.170	%		9/16/69		2,245,998		2,009,890	(a)
Navient Student Loan Trust, 2019-BA B		4.040	%		12/15/59		900,000		817,272	(a)
Oak Street Investment Grade Net Lease Fund, 2020-1A A1		1.850	%		11/20/50		5,755,854		5,199,284	(a)
Option One Mortgage Loan Trust, 2007-FXD2 1A1		5.820	%		3/25/37		21,242,447		18,720,081
Origen Manufactured Housing Contract Trust, 2006-A A2		5.522	%		10/15/37		4,314,169		3,737,120	(c)

See Notes to Schedule of Investments.

    86     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
Origen Manufactured Housing Contract Trust, 2007-A A2		6.616	%		4/15/37		5,587,250	$	5,165,569	(c)
Ownit Mortgage Loan Asset-Backed Certificates, 2004-1 M2 (1 mo. USD LIBOR + 1.800%)		6.645	%		7/25/35		1,239,730		1,211,866	(c)
RAMP Trust, 2003-RS7 MII1 (1 mo. USD LIBOR + 0.750%)		5.210	%		8/25/33		618,748		600,977	(c)
Renaissance Home Equity Loan Trust, 2003-4 A3 (1 mo. USD LIBOR + 1.240%)		6.085	%		3/25/34		3,871,414		3,469,080	(c)
Renaissance Home Equity Loan Trust, 2006-1 AF5		6.166	%		5/25/36		13,351,255		6,758,046
Residential Funding Securities Corp., 2002-RP2 A1 (1 mo. USD LIBOR + 1.500%)		6.345	%		10/25/32		1,019,231		1,005,730	(a)(c)
SMB Private Education Loan Trust, 2020-A A2B (1 mo. USD LIBOR + 0.830%)		5.514	%		9/15/37		3,173,793		3,083,010	(a)(c)
SMB Private Education Loan Trust, 2015-C R		0.000	%		9/18/46		49,649		16,123,344	(a)
SMB Private Education Loan Trust, 2021-A B		2.310	%		1/15/53		10,985,000		9,863,712	(a)
SMB Private Education Loan Trust, 2021-A C		2.990	%		1/15/53		20,000,000		17,506,880	(a)
SMB Private Education Loan Trust, 2021-C APT1		1.390	%		1/15/53		29,430,282		25,920,621	(a)
SpringCastle America Funding LLC, 2020-AA A		1.970	%		9/25/37		11,387,560		10,375,263	(a)
Structured Asset Securities Corp. Mortgage Loan Trust, 2006-ARS1 A1 (1 mo. USD LIBOR + 0.220%)		5.065	%		2/25/36		1,079,234		26,332	(a)(c)
Structured Asset Securities Corp. Mortgage Loan Trust, 2007-BC2 A4 (1 mo. USD LIBOR + 0.300%)		5.145	%		3/25/37		18,829,557		14,772,243	(c)
Structured Asset Securities Corp. Mortgage Loan Trust, 2007-WF2 M1 (1 mo. USD LIBOR + 2.250%)		7.095	%		8/25/37		17,510,000		15,581,690	(a)(c)
Structured Asset Securities Corp. Trust, 2005-SC1 1A2		6.812	%		5/25/31		3,642,431		2,940,568	(a)(c)
Sunrun Atlas Issuer LLC, 2019-2 A		3.610	%		2/1/55		2,368,547		2,115,157	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         87

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
Sunrun Demeter Issuer LLC, 2021-2A A		2.270	%		1/30/57		27,228,900	$	21,855,843	(a)
Thrust Engine Leasing, 2021-1A A		4.163	%		7/15/40		18,033,148		14,987,346	(a)
Trinity Rail Leasing LLC, 2020-2A A2		2.560	%		11/19/50		21,708,000		18,770,606	(a)
United States Small Business Administration, 2019-20D 1		2.980	%		4/1/39		3,861,031		3,609,272
United States Small Business Administration, 2019-25G 1		2.690	%		7/1/44		7,406,092		6,594,226
Wingstop Funding LLC, 2020-1A A2		2.841	%		12/5/50		3,880,875		3,417,531	(a)
TOTAL ASSET-BACKED SECURITIES (Cost - $970,056,045)									851,535,567
						FACE AMOUNT†
SENIOR LOANS - 3.1%
COMMUNICATION SERVICES - 0.3%
Entertainment - 0.1%
UFC Holdings LLC, Term Loan B3 (3 mo. USD LIBOR + 2.750%)		7.570	%		4/29/26		16,060,187		15,993,698	(c)(n)(o)
Interactive Media & Services - 0.0%††
Rackspace Technology Global Inc., Term Loan B (3 mo. USD LIBOR + 2.750%)		7.595	%		2/15/28		7,018,295		3,815,882	(c)(n)(o)
Media - 0.2%
Charter Communications Operating LLC, Term Loan B1 (1 mo. Term SOFR + 1.750%)		6.557	%		4/30/25		16,896,363		16,906,923	(c)(n)(o)
Charter Communications Operating LLC, Term Loan B2 (1 mo. Term SOFR + 1.750%)		6.557	%		2/1/27		2,349,292		2,331,308	(c)(n)(o)
iHeartCommunications Inc., New Term Loan (1 mo. USD LIBOR + 3.000%)		7.840	%		5/1/26		10,239,179		9,107,238	(c)(n)(o)
Nexstar Media Inc., Term Loan B4 (1 mo. USD LIBOR + 2.500%)		7.340	%		9/18/26		3,780,521		3,776,740	(c)(n)(o)
Terrier Media Buyer Inc., 2021 Refinancing Term Loan B (3 mo. USD LIBOR + 3.500%)		8.659	%		12/17/26		13,368,178		11,884,310	(c)(n)(o)

See Notes to Schedule of Investments.

    88     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Virgin Media Bristol LLC, Term Loan Facility N (1 mo. USD LIBOR + 2.500%)		7.184	%		1/31/28		19,335,838	$	19,065,137	(c)(n)(o)
Virgin Media Bristol LLC, Term Loan Facility Q (1 mo. USD LIBOR + 3.250%)		7.934	%		1/31/29		4,840,000		4,799,489	(c)(n)(o)
Total Media									67,871,145
TOTAL COMMUNICATION SERVICES									87,680,725
CONSUMER DISCRETIONARY - 0.3%
Automobile Components - 0.0%††
Clarios Global LP, First Lien Amendment No. 1 Dollar Term Loan (1 mo. USD LIBOR + 3.250%)		8.090	%		4/30/26		5,688,798		5,669,826	(c)(n)(o)
Diversified Consumer Services - 0.0%††
Prime Security Services Borrower LLC, 2021 Refinancing Term Loan B1 (3 mo. USD LIBOR + 2.750%)		7.517	%		9/23/26		10,569,898		10,550,661	(c)(n)(o)
Hotels, Restaurants & Leisure - 0.2%
Alterra Mountain Co., 2028 Term Loan B (1 mo. USD LIBOR + 3.500%)		8.341	%		8/17/28		11,937,999		11,923,076	(c)(n)(o)
Caesars Entertainment Inc., Term Loan B (1 mo. Term SOFR + 3.350%)		8.157	%		2/6/30		2,060,000		2,053,130	(c)(n)(o)
Entain Holdings Gibraltar Ltd., Term Loan Facility B (3 mo. Term SOFR + 2.600%)		7.437	%		3/29/27		3,388,342		3,386,225	(c)(n)(o)
PCI Gaming Authority, Term Loan Facility B (1 mo. USD LIBOR + 2.500%)		7.340	%		5/29/26		10,178,222		10,180,359	(c)(n)(o)
Scientific Games International Inc., Initial Term Loan B (1 mo. Term SOFR + 3.100%)		7.960	%		4/13/29		19,095,052		18,979,622	(c)(n)(o)
Station Casinos LLC, Term Loan Facility B1 (1 mo. USD LIBOR + 2.250%)		7.100	%		2/8/27		9,136,624		9,077,922	(c)(n)(o)
Total Hotels, Restaurants & Leisure									55,600,334

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Specialty Retail - 0.1%
Great Outdoors Group LLC, Term Loan B2 (1 mo. USD LIBOR + 3.750%)		8.590	%		3/6/28		5,526,877	$	5,464,727	(c)(n)(o)
Harbor Freight Tools USA Inc., 2021 Refinancing Term Loan (1 mo. USD LIBOR + 2.750%)		7.590	%		10/19/27		13,581,594		13,193,975	(c)(n)(o)
Total Specialty Retail									18,658,702
TOTAL CONSUMER DISCRETIONARY									90,479,523
CONSUMER STAPLES - 0.1%
Beverages - 0.1%
Triton Water Holdings Inc., First Lien Initial Term Loan (3 mo. USD LIBOR + 3.500%)		8.659	%		3/31/28		22,732,722		20,495,027	(c)(n)(o)
Household Products - 0.0%††
Energizer Holdings Inc., Term Loan (1 mo. Term SOFR + 2.364%)		7.116	%		12/22/27		4,917,229		4,889,569	(c)(n)(o)
TOTAL CONSUMER STAPLES									25,384,596
ENERGY - 0.0%††
Oil, Gas & Consumable Fuels - 0.0%††
Pilot Travel Centers LLC, Initial Term Loan B (1 mo. Term SOFR + 2.000%)		6.807	%		8/4/28		1,723,942		1,720,347	(c)(n)(o)
FINANCIALS - 0.7%
Capital Markets - 0.1%
Allspring Buyer LLC, Term Loan (3 mo. USD LIBOR + 3.000%)		8.188	%		11/1/28		9,148,736		9,137,300	(c)(n)(o)
First Eagle Holdings Inc., 2018 Refinancing Term Loan B (3 mo. USD LIBOR + 2.500%)		7.659	%		2/1/27		10,377,571		10,098,725	(c)(n)(o)
Focus Financial Partners LLC, Term Loan B5 (1 mo. Term SOFR + 3.250%)		8.057	%		6/30/28		20,085,929		19,932,473	(c)(n)(o)
Total Capital Markets									39,168,498
Consumer Finance - 0.1%
Trans Union LLC, Term Loan B5 (1 mo. USD LIBOR + 1.750%)		6.590	%		11/16/26		16,891,619		16,801,165	(c)(n)(o)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Financial Services - 0.3%
Castlelake Aviation One Designated Activity Co., Initial Term Loan (3 mo. USD LIBOR + 2.750%)		7.616	%		10/22/26		9,387,543	$	9,310,519	(c)(n)(o)
Citadel Securities LP, 2021 Term Loan (1 mo. Term SOFR + 2.614%)		7.422	%		2/2/28		17,260,925		17,133,280	(c)(n)(o)
Deerfield Dakota Holding LLC, First Lien Initial Dollar Term Loan (1 mo. Term SOFR + 3.750%)		8.557	%		4/9/27		16,934,288		16,440,399	(c)(n)(o)
Setanta Aircraft Leasing DAC, Term Loan (3 mo. USD LIBOR + 2.000%)		7.159	%		11/5/28		35,690,000		35,730,151	(c)(n)(o)
VFH Parent LLC, Initial Term Loan (1 mo. Term SOFR + 3.100%)		7.859	%		1/13/29		10,596,500		10,250,471	(c)(n)(o)
Total Financial Services									88,864,820
Insurance - 0.2%
AmWINS Group Inc., 2023 Incremental Term Loan (1 mo. Term SOFR + 2.850%)		7.657	%		2/19/28		3,311,700		3,302,394	(c)(n)(o)
AmWINS Group Inc., Term Loan (1 mo. USD LIBOR + 2.250%)		7.090	%		2/19/28		342,402		338,860	(c)(n)(o)
Asurion LLC, New Term Loan B8 (1 mo. USD LIBOR + 3.250%)		8.090	%		12/23/26		16,222,601		15,092,859	(c)(n)(o)
Asurion LLC, New Term Loan B9 (1 mo. USD LIBOR + 3.250%)		8.090	%		7/31/27		9,510,019		8,749,218	(c)(n)(o)
Asurion LLC, Term Loan B11 (1 mo. Term SOFR + 4.250%)		9.057	%		8/21/28		17,782,661		16,537,875	(c)(n)(o)
Total Insurance									44,021,206
TOTAL FINANCIALS									188,855,689
HEALTH CARE - 0.7%
Health Care Equipment & Supplies - 0.1%
Medline Borrower LP, Initial Dollar Term Loan (1 mo. USD LIBOR + 3.250%)		8.090	%		10/23/28		11,528,196		11,255,324	(c)(n)(o)
Health Care Providers & Services - 0.3%
EyeCare Partners LLC, First Lien Initial Term Loan (1 mo. USD LIBOR + 3.750%)		8.590	%		2/18/27		11,493,504		9,434,271	(c)(n)(o)
Global Medical Response Inc., 2020 Term Loan (3 mo. USD LIBOR + 4.250%)		9.236	%		10/2/25		14,788,471		10,475,191	(c)(n)(o)
Grifols Worldwide Operations USA Inc., Dollar Term Loan B (1 mo. USD LIBOR + 2.000%)		6.840	%		11/15/27		12,294,162		12,066,229	(c)(n)(o)
Phoenix Guarantor Inc., Term Loan B1 (1 mo. USD LIBOR + 3.250%)		8.090	%		3/5/26		17,714,584		17,293,863	(c)(n)(o)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
Phoenix Guarantor Inc., Term Loan B3 (1 mo. USD LIBOR + 3.500%)		8.340	%		3/5/26		3,536,434	$	3,459,321	(c)(n)(o)
Sotera Health Holdings LLC, Term Loan (3 mo. USD LIBOR + 2.750%)		7.575	%		12/11/26		31,949,289		30,890,969	(c)(n)(o)
Total Health Care Providers & Services									83,619,844
Health Care Technology - 0.1%
AthenaHealth Group Inc., Initial Delayed Draw Term Loan		-			2/15/29		3,712,880		3,485,466	(p)
AthenaHealth Group Inc., Initial Term Loan (1 mo. Term SOFR + 3.500%)		8.259	%		2/15/29		30,223,445		28,372,259	(c)(n)(o)
Total Health Care Technology									31,857,725
Life Sciences Tools & Services - 0.1%
ICON Luxembourg Sarl, Term Loan (3 mo. Term SOFR + 2.512%)		7.410	%		7/3/28		16,918,590		16,898,626	(c)(n)(o)
PRA Health Sciences Inc., Term Loan (3 mo. USD LIBOR + 2.250%)		7.000	%		7/3/28		4,483,001		4,477,711	(c)(n)(o)
Total Life Sciences Tools & Services									21,376,337
Pharmaceuticals - 0.1%
Gainwell Acquisition Corp., Term Loan B (3 mo. USD LIBOR + 4.000%)		8.998	%		10/1/27		18,321,238		17,542,585	(c)(n)(o)
Jazz Financing Lux Sarl, Initial Dollar Term Loan (1 mo. USD LIBOR + 3.500%)		8.340	%		5/5/28		11,747,622		11,717,020	(c)(n)(o)
Total Pharmaceuticals									29,259,605
TOTAL HEALTH CARE									177,368,835
INDUSTRIALS - 0.6%
Aerospace & Defense - 0.0%††
Avolon TLB Borrower 1 (US) LLC, Term Loan B5 (1 mo. USD LIBOR + 2.250%)		7.011	%		12/1/27		3,052,811		3,059,802	(c)(n)(o)
Building Products - 0.2%
Hunter Douglas Holding BV, Term Loan B1 (3 mo. Term SOFR + 3.500%)		8.373	%		2/26/29		44,901,285		40,539,574	(c)(n)(o)
Quikrete Holdings Inc., Fourth Amendment Term Loan B1 (1 mo. USD LIBOR + 3.000%)		7.840	%		3/19/29		11,068,848		10,956,223	(c)(n)(o)
Total Building Products									51,495,797

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Commercial Services & Supplies - 0.2%
Ali Group North America Co., Initial Term Loan B (1 mo. Term SOFR + 2.114%)		6.922	%		7/30/29		11,377,641	$	11,232,576	(c)(n)(o)
Allied Universal Holdco LLC, USD Term Loan (1 mo. Term SOFR + 3.850%)		8.657	%		5/12/28		23,525,772		22,376,891	(c)(n)(o)
APi Group DE Inc., Initial Term Loan (1 mo. USD LIBOR + 2.500%)		7.340	%		10/1/26		10,815,362		10,822,122	(c)(n)(o)
Garda World Security Corp., Term Loan B2 (1 mo. Term SOFR + 4.350%)		9.109	%		10/30/26		6,749,555		6,694,749	(c)(n)(o)
GFL Environmental Inc., 2023 Refinancing Term Loan (1 mo. Term SOFR + 3.100%)		7.907	%		5/31/27		3,560,804		3,568,121	(c)(n)(o)
Total Commercial Services & Supplies									54,694,459
Construction & Engineering - 0.0%††
Brown Group Holding LLC, Initial Term Loan (1 mo. Term SOFR + 2.600%)		7.407	%		6/7/28		2,925,157		2,903,832	(c)(n)(o)
Ground Transportation - 0.1%
Genesee & Wyoming Inc., Initial Term Loan (3 mo. Term SOFR + 2.100%)		6.998	%		12/30/26		14,039,667		13,969,469	(c)(n)(o)
Passenger Airlines - 0.1%
Air Canada, Term Loan (3 mo. USD LIBOR + 3.500%)		8.369	%		8/11/28		14,619,525		14,614,993	(c)(n)(o)
Delta Air Lines Inc., Initial Term Loan (3 mo. USD LIBOR + 3.750%)		8.558	%		10/20/27		5,517,500		5,727,193	(c)(n)(o)
United Airlines Inc., Term Loan B (3 mo. USD LIBOR + 3.750%)		8.568	%		4/21/28		13,288,138		13,223,358	(c)(n)(o)
Total Passenger Airlines									33,565,544
Trading Companies & Distributors - 0.0%††
Delos Finance SARL, 2018 Term Loan (3 mo. USD LIBOR + 1.750%)		6.909	%		10/6/23		5,500,000		5,504,592	(c)(n)(o)
TOTAL INDUSTRIALS									165,193,495
INFORMATION TECHNOLOGY - 0.4%
Communications Equipment - 0.0%††
CommScope Inc., Initial Term Loan (1 mo. USD LIBOR + 3.250%)		8.090	%		4/6/26		1,930,000		1,861,543	(c)(n)(o)

See Notes to Schedule of Investments.

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Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Electronic Equipment, Instruments & Components - 0.1%
II-VI Inc., Term Loan B (1 mo. Term SOFR + 2.864%)		7.672	%		7/2/29		18,299,072	$	18,161,828	(c)(n)(o)
Software - 0.3%
Cloudera Inc., Term Loan (1 mo. Term SOFR + 3.850%)		8.657	%		10/8/28		8,248,600		7,898,034	(c)(f)(n)(o)
DCert Buyer Inc., First Lien Initial Term Loan (3 mo. Term SOFR + 4.000%)		8.696	%		10/16/26		17,962,351		17,628,431	(c)(n)(o)
Magenta Buyer LLC, First Lien Initial Term Loan (3 mo. USD LIBOR + 4.750%)		9.580	%		7/27/28		30,881,819		25,576,786	(c)(n)(o)
Peraton Corp., First Lien Term Loan B (1 mo. USD LIBOR + 3.750%)		8.590	%		2/1/28		21,654,881		21,429,346	(c)(n)(o)
Total Software									72,532,597
TOTAL INFORMATION TECHNOLOGY									92,555,968
TOTAL SENIOR LOANS (Cost - $861,014,120)									829,239,178
U.S. TREASURY INFLATION PROTECTED SECURITIES - 1.2%
U.S. Treasury Notes, Inflation Indexed (Cost - $307,341,957)		1.125	%		1/15/33		309,507,458		308,982,908	(m)
						SHARES
INVESTMENTS IN UNDERLYING FUNDS - 0.2%
VanEck J.P. Morgan EM Local Currency Bond ETF (Cost - $60,856,229)							2,000,000		50,500,000
	EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†
PURCHASED OPTIONS - 0.1%
EXCHANGE-TRADED PURCHASED OPTIONS - 0.1%
SOFR 1-Year Mid-Curve Futures, Put @ $95.875		12/15/23			4,600		11,500,000		2,357,500
SOFR 1-Year Mid-Curve Futures, Put @ $96.000		12/15/23			10,819		27,047,500		6,491,400
U.S. Treasury 5-Year Notes Futures, Call @ $109.500		4/7/23			946		946,000		436,047
U.S. Treasury 5-Year Notes Futures, Call @ $109.500		4/21/23			947		947,000		673,258
U.S. Treasury 5-Year Notes Futures, Call @ $110.250		4/21/23			633		633,000		286,828

See Notes to Schedule of Investments.

    94     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

(Percentages shown based on Fund net assets)

SECURITY	EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†		VALUE
EXCHANGE-TRADED PURCHASED OPTIONS - (continued)
U.S. Treasury 5-Year Notes Futures, Call @ $111.000		4/21/23			1,265		1,265,000	$	365,665
U.S. Treasury 5-Year Notes Futures, Call @ $112.500		4/21/23			634		634,000		74,297
U.S. Treasury 6 to 7-Year Notes Futures, Call @ $114.750		4/7/23			1,788		1,788,000		1,201,312
U.S. Treasury 6 to 7-Year Notes Futures, Put @ $114.250		4/7/23			946		946,000		280,844
U.S. Treasury 6 to 7-Year Notes Futures, Put @ $114.500		4/7/23			736		736,000		276,000
U.S. Treasury 10-Year Notes Futures, Call @ $114.750		4/21/23			211		211,000		214,297
U.S. Treasury 10-Year Notes Futures, Call @ $116.750		4/21/23			422		422,000		158,250
U.S. Treasury 10-Year Notes Futures, Call @ $119.000		4/21/23			423		423,000		52,875
U.S. Treasury 10-Year Notes Futures, Put @ $114.500		4/21/23			210		210,000		150,938
U.S. Treasury Long-Term Bonds Futures, Call @ $130.000		4/7/23			315		315,000		521,719
U.S. Treasury Long-Term Bonds Futures, Call @ $130.500		4/7/23			315		315,000		423,281
U.S. Treasury Long-Term Bonds Futures, Call @ $130.500		4/21/23			105		105,000		213,281
U.S. Treasury Long-Term Bonds Futures, Call @ $134.000		4/21/23			316		316,000		227,125
U.S. Treasury Long-Term Bonds Futures, Call @ $137.000		4/21/23			211		211,000		59,344
TOTAL PURCHASED OPTIONS (Cost - $21,112,531)									14,464,261
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $29,996,844,629)									26,964,822,845
	RATE					SHARES
SHORT-TERM INVESTMENTS - 5.0%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $1,321,853,839)		4.756	%				1,321,853,839		1,321,853,839	(q)(r)
TOTAL INVESTMENTS - 106.6% (Cost - $31,318,698,468)									28,286,676,684
Liabilities in Excess of Other Assets - (6.6)%									(1,741,981,957	)
TOTAL NET ASSETS - 100.0%								$	26,544,694,727

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         95

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

† 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) The coupon payment on this security is currently in default as of March 31, 2023.

(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 swap contracts.

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

(i) This security is traded on a to-be-announced (“TBA”) basis. At March 31, 2023, the Fund held TBA securities with a total cost of $2,364,074,224.

(j) 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.

(k) 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.

(l) All or a portion of this security is held at the broker as collateral for OTC derivatives.

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

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

(o) 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.

(p) All or a portion of this loan is unfunded as of March 31, 2023. The interest rate for fully unfunded term loans is to be determined. At March 31, 2023, the total principal amount and market value of unfunded commitments totaled $3,712,880 and $3,485,466, respectively.

(q) Rate shown is one-day yield as of the end of the reporting period.

(r) 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, 2023, the total market value of investments in Affiliated Companies was $1,321,853,839 and the cost was $1,321,853,839 (Note 2).

See Notes to Schedule of Investments.

    96     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

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
ETF	— Exchange-Traded Fund
GTD	— Guaranteed
ICE	— Intercontinental Exchange
IDR	— Indonesian Rupiah
IO	— Interest Only
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

At March 31, 2023, the Fund had the following written options contracts:

EXCHANGE-TRADED WRITTEN OPTIONS
SECURITY	EXPIRATION DATE		STRIKE PRICE			CONTRACTS		NOTIONAL AMOUNT†			VALUE
Australian Dollar Futures, Put		4/6/23	$	69.000			290		290,000		$	(580,000	)
British Pound Futures, Call		4/6/23		122.000			374		233,750			(376,338	)
Euro-Bund Futures, Call		4/21/23		136.500	EUR		292		29,200,000	EUR		(364,175	)
Euro-Bund Futures, Call		4/21/23		137.000	EUR		435		43,500,000	EUR		(452,887	)
Euro-Bund Futures, Put		4/21/23		134.000	EUR		1,017		101,700,000	EUR		(772,056	)
Euro-Bund Futures, Put		4/21/23		138.000	EUR		293		29,300,000	EUR		(896,079	)
SOFR 1-Year Mid-Curve Futures, Put		12/15/23		95.250			9,200		23,000,000			(2,012,500	)
SOFR 1-Year Mid-Curve Futures, Put		12/15/23		95.375			21,638		54,095,000			(5,679,975	)
U.S. Treasury 5-Year Notes Futures, Call		4/21/23		107.000			1,875		1,875,000			(4,760,743	)
U.S. Treasury 5-Year Notes Futures, Call		4/21/23		107.500			2,084		2,084,000			(4,330,812	)
U.S. Treasury 5-Year Notes Futures, Call		4/21/23		109.000			1,879		1,879,000			(1,805,602	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         97

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

EXCHANGE-TRADED WRITTEN OPTIONS (continued)
SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT†		VALUE
U.S. Treasury 5-Year Notes Futures, Call		4/21/23	$	109.750		1,259		1,259,000	$	(777,040	)
U.S. Treasury 5-Year Notes Futures, Call		4/21/23		110.000		11,581		11,581,000		(6,152,406	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		106.500		4,279		4,279,000		(100,291	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		107.000		2,733		2,733,000		(106,759	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		107.750		3,374		3,374,000		(369,031	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		108.000		845		845,000		(125,430	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		108.500		13,721		13,721,000		(3,644,641	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		109.000		6,333		6,333,000		(2,869,641	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		109.250		2,079		2,079,000		(1,185,681	)
U.S. Treasury 5-Year Notes Futures, Put		4/21/23		110.000		2,541		2,541,000		(2,600,556	)
U.S. Treasury 6 to 7-Year Notes Futures, Call		4/7/23		115.000		1,998		1,998,000		(1,092,656	)
U.S. Treasury 6 to 7-Year Notes Futures, Call		4/7/23		115.750		850		850,000		(239,063	)
U.S. Treasury 6 to 7-Year Notes Futures, Put		4/7/23		113.500		946		946,000		(103,469	)
U.S. Treasury 6 to 7-Year Notes Futures, Put		4/7/23		114.000		1,700		1,700,000		(371,875	)
U.S. Treasury 10-Year Notes Futures, Call		4/21/23		114.000		3,443		3,443,000		(4,949,312	)
U.S. Treasury 10-Year Notes Futures, Call		4/21/23		115.000		2,253		2,253,000		(2,041,781	)
U.S. Treasury 10-Year Notes Futures, Call		4/21/23		115.500		1,260		1,260,000		(885,938	)
U.S. Treasury 10-Year Notes Futures, Call		4/21/23		116.000		3,790		3,790,000		(2,072,656	)
U.S. Treasury 10-Year Notes Futures, Call		4/21/23		117.000		630		630,000		(206,719	)
U.S. Treasury 10-Year Notes Futures, Call		5/26/23		115.000		836		836,000		(1,201,750	)
U.S. Treasury 10-Year Notes Futures, Put		4/21/23		111.500		29		29,000		(2,266	)
U.S. Treasury 10-Year Notes Futures, Put		4/21/23		112.500		2,086		2,086,000		(325,938	)
U.S. Treasury 10-Year Notes Futures, Put		4/21/23		113.000		2,951		2,951,000		(737,750	)
U.S. Treasury 10-Year Notes Futures, Put		4/21/23		114.000		12,030		12,030,000		(6,202,969	)

See Notes to Schedule of Investments.

    98     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

EXCHANGE-TRADED WRITTEN OPTIONS (continued)
SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT†		VALUE
U.S. Treasury 10-Year Notes Futures, Put		4/21/23	$	115.000		833		833,000	$	(819,984	)
U.S. Treasury 10-Year Notes Futures, Put		4/21/23		117.000		1,268		1,268,000		(3,051,125	)
U.S. Treasury Long-Term Bonds Futures, Call		4/7/23		131.000		212		212,000		(225,250	)
U.S. Treasury Long-Term Bonds Futures, Call		4/21/23		132.000		105		105,000		(139,453	)
U.S. Treasury Long-Term Bonds Futures, Call		4/21/23		132.500		106		106,000		(120,906	)
U.S. Treasury Long-Term Bonds Futures, Call		4/21/23		133.000		317		317,000		(312,047	)
U.S. Treasury Long-Term Bonds Futures, Put		4/7/23		130.000		208		208,000		(104,000	)
U.S. Treasury Long-Term Bonds Futures, Put		4/21/23		129.000		422		422,000		(336,281	)
U.S. Treasury Long-Term Bonds Futures, Put		4/21/23		130.000		1,277		1,277,000		(1,476,531	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $74,089,648)									$	(66,982,362	)

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

Abbreviation(s) used in this schedule:
EUR	— Euro
SOFR	— Secured Overnight Financing Rate

At March 31, 2023, the Fund had the following open futures contracts:

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
30-Day Federal Funds		5,039		4/23	$	1,998,657,849	$	1,998,648,275	$	(9,574	)
3-Month SOFR		2,039		12/23		485,574,800		486,276,012		701,212
3-Month SOFR		185		9/23		44,645,514		43,995,313		(650,201	)
3-Month SOFR		2,750		3/26		662,650,672		667,321,875		4,671,203
Australian 10-Year Bonds		4,149		6/23		329,853,578		340,813,108		10,959,530
Australian Dollar		4,838		6/23		326,137,467		324,194,380		(1,943,087	)
British Pound		2,938		6/23		220,959,946		226,868,688		5,908,742

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         99

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy (continued)
Euro		3,465		6/23	$	460,332,180	$	472,257,844	$	11,925,664
Euro-Bobl		1,501		6/23		187,544,332		191,889,131		4,344,799
Euro-OAT		1,548		6/23		211,128,646		218,630,905		7,502,259
Japanese Yen		10,129		6/23		939,293,222		965,103,781		25,810,559
Mexican Peso		5,456		6/23		147,642,517		149,139,760		1,497,243
U.S. Treasury 5-Year Notes		120,842		6/23		13,033,569,888		13,233,142,776		199,572,888
U.S. Treasury Long-Term Bonds		21,143		6/23		2,707,629,358		2,773,036,594		65,407,236
U.S. Treasury Ultra Long-Term Bonds		18,710		6/23		2,570,478,525		2,640,448,750		69,970,225
United Kingdom Long Gilt Bonds		1,870		6/23		231,729,923		238,411,087		6,681,164
										412,349,862
Contracts to Sell:
3-Month SOFR		25,787		3/24		6,168,163,493		6,169,539,750		(1,376,257	)
3-Month SOFR		10,748		3/25		2,584,457,004		2,603,031,250		(18,574,246	)
Canadian Dollar		418		6/23		30,358,229		30,927,820		(569,591	)
Euro-Bund		479		6/23		70,648,330		70,565,552		82,778
Euro-Buxl		744		6/23		107,383,250		113,655,426		(6,272,176	)
Japanese 10-Year Bonds		411		6/23		450,272,274		458,499,868		(8,227,594	)
U.S. Treasury 2-Year Notes		36,133		6/23		7,407,407,425		7,459,770,802		(52,363,377	)
U.S. Treasury 10-Year Notes		81,669		6/23		9,312,623,837		9,385,555,018		(72,931,181	)
U.S. Treasury Ultra 10-Year Notes		6,870		6/23		804,070,152		832,236,128		(28,165,976	)
										(188,397,620	)
Net unrealized appreciation on open futures contracts									$	223,952,242

Abbreviation(s) used in this table:

Bobl	— Bundesobligation (Medium-term German Federal Government Bond)
Buxl	— Ultra Long German Bond
OAT	— Obligations Assimilables du Trésor (French Treasury Bonds)
SOFR	— Secured Overnight Financing Rate

See Notes to Schedule of Investments.

    100     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

At March 31, 2023, the Fund had the following open forward foreign currency contracts:

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
EUR	28,000,000		USD	30,406,180	BNP Paribas SA		4/18/23	$	(9,734	)
EUR	60,000,000		USD	65,354,100	BNP Paribas SA		4/18/23		(218,858	)
USD	2,455,641		EUR	2,300,000	BNP Paribas SA		4/18/23		(41,210	)
USD	6,418,176		EUR	6,000,000	BNP Paribas SA		4/18/23		(95,348	)
USD	13,843,898		EUR	13,000,000	BNP Paribas SA		4/18/23		(268,738	)
USD	255,923,929		EUR	236,436,589	BNP Paribas SA		4/18/23		(748,645	)
JPY	803,091,715		USD	5,930,688	Goldman Sachs Group Inc.		4/18/23		135,172
JPY	4,301,940,000		USD	31,825,439	Goldman Sachs Group Inc.		4/18/23		667,696
JPY	4,304,990,000		USD	31,824,929	Goldman Sachs Group Inc.		4/18/23		691,242
JPY	4,309,200,000		USD	31,823,586	Goldman Sachs Group Inc.		4/18/23		724,384
JPY	4,312,270,000		USD	31,823,697	Goldman Sachs Group Inc.		4/18/23		747,462
MXN	267,108,571		USD	13,494,421	Goldman Sachs Group Inc.		4/18/23		1,276,282
USD	3,295,703		EUR	3,100,000	Goldman Sachs Group Inc.		4/18/23		(69,618	)
USD	2,271,944		JPY	300,000,000	Goldman Sachs Group Inc.		4/18/23		6,004
USD	8,357,456		JPY	1,100,000,000	Goldman Sachs Group Inc.		4/18/23		49,007
USD	134,041,816		JPY	17,774,193,876	Goldman Sachs Group Inc.		4/18/23		(209,074	)
USD	319,568,975		JPY	41,794,828,332	Goldman Sachs Group Inc.		4/18/23		3,886,984
ZAR	728,620,000		USD	42,538,459	Goldman Sachs Group Inc.		4/18/23		(1,681,313	)
CAD	1,006,159,712		USD	753,367,311	JPMorgan Chase & Co.		4/18/23		(8,700,253	)
CNH	2,067,219,554		USD	305,178,711	JPMorgan Chase & Co.		4/18/23		(3,980,064	)
INR	4,359,319,201		USD	52,339,047	JPMorgan Chase & Co.		4/18/23		643,450
USD	111,086,630		CAD	149,630,914	JPMorgan Chase & Co.		4/18/23		343,563
USD	111,895,110		CAD	150,050,000	JPMorgan Chase & Co.		4/18/23		841,874
USD	295,337,914		CNH	2,021,543,720	JPMorgan Chase & Co.		4/18/23		794,341
USD	256,039,472		CNY	1,756,302,755	JPMorgan Chase & Co.		4/18/23		73,001
USD	152,095,030		IDR	2,376,674,953,873	JPMorgan Chase & Co.		4/18/23		(6,328,270	)
AUD	702,904,720		USD	490,109,454	Morgan Stanley & Co. Inc.		4/18/23		(19,950,195	)
NOK	1,582,102,816		EUR	148,951,459	Morgan Stanley & Co. Inc.		4/18/23		(10,461,971	)
USD	263,199,798		GBP	215,481,434	Morgan Stanley & Co. Inc.		4/18/23		(2,717,552	)
Net unrealized depreciation on open forward foreign currency contracts								$	(44,600,381	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         101

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

Abbreviation(s) used in this table:
AUD	— Australian Dollar
CAD	— Canadian Dollar
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
NOK	— Norwegian Krone
USD	— United States Dollar
ZAR	— South African Rand

At March 31, 2023, 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†	MARKET VALUE			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
		436,860,000			8/15/28	1.130% annually	Daily SOFR Compound annually	$	47,265,191		$	1,914,838		$	45,350,353
		441,554,000			8/15/28	1.220% annually	Daily SOFR Compound annually		45,839,801			(194,286	)		46,034,087
		348,007,000			2/15/29	2.850% annually	Daily SOFR Compound annually		8,527,288			(632,734	)		9,160,022
		684,755,000			4/30/29	3.270% annually	Daily SOFR Compound annually		1,085,017			(4,162,137	)		5,247,154
		202,268,000			6/30/29	3.850% annually	Daily SOFR Compound annually		(6,353,719	)		(54,259	)		(6,299,460	)
		3,851,130,000	MXN		7/18/29	28-Day MXN TIIE - Banxico every 28 days	7.450% every 28 days		(10,357,694	)		1,040,128			(11,397,822	)
		3,847,470,000	MXN		7/20/29	28-Day MXN TIIE - Banxico every 28 days	7.440% every 28 days		(10,459,429	)		1,266,076			(11,725,505	)

See Notes to Schedule of Investments.

    102     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

CENTRALLY CLEARED INTEREST RATE SWAPS (cont’d)
	NOTIONAL AMOUNT*			TERMINATION DATE		PAYMENTS MADE BY THE FUND†	PAYMENTS RECEIVED BY THE FUND†	MARKET VALUE		UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
		217,917,000			9/30/29	3.250% annually	Daily SOFR Compound annually	$	280,125	$	96,070		$	184,055
		478,160,000			12/31/29	Daily SOFR Compound annually	3.250% annually		1,764,927		(3,064,930	)		4,829,857
		354,590,000			12/31/29	Daily SOFR Compound annually	3.400% annually		4,372,983		752,550			3,620,433
		199,961,000			3/18/32	2.000% annually	Daily SOFR Compound annually		18,635,036		1,620,828			17,014,208
		12,221,800,000	JPY		5/9/46	0.641% semi-annually	Daily TONA Compound semi-annually		8,906,331		16,343			8,889,988
		42,550,000			2/15/47	1.520% annually	Daily SOFR Compound annually		11,114,216		206,535			10,907,681
		193,568,000			2/15/47	1.729% annually	Daily SOFR Compound annually		43,815,600		2,453,765			41,361,835
		159,450,000			5/15/47	1.630% annually	Daily SOFR Compound annually		38,852,646		7,064,630			31,788,016
		19,814,000			8/15/47	1.650% annually	Daily SOFR Compound annually		4,778,697		1,992,261			2,786,436
		124,667,000			2/15/48	2.510% annually	Daily SOFR Compound annually		11,849,715		818,161			11,031,554
		17,221,000			2/15/48	2.600% annually	Daily SOFR Compound annually		1,370,667		1,183,736			186,931
		246,006,000			2/15/48	2.620% annually	Daily SOFR Compound annually		18,735,227		280,446			18,454,781
		125,953,000			2/15/48	3.050% annually	Daily SOFR Compound annually		289,925		3,882,678			(3,592,753	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         103

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

CENTRALLY CLEARED INTEREST RATE SWAPS (cont’d)
	NOTIONAL AMOUNT*		TERMINATION DATE		PAYMENTS MADE BY THE FUND†		PAYMENTS RECEIVED BY THE FUND†		MARKET VALUE			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
		253,608,000		5/15/48		3.150% annually		Daily SOFR Compound annually	$	(4,054,752	)		(81,633,036	)	$	77,578,284
		95,958,000		4/21/52		2.500% annually		Daily SOFR Compound annually		8,817,327			89,421			8,727,906
Total									$	245,075,125		$	(65,062,916	)	$	310,138,041

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CORPORATE ISSUES - SELL PROTECTION1
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		IMPLIED CREDIT SPREAD AT MARCH 31, 20233		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		1.287%		1.000% quarterly	$	(466,296	)	$	(1,573,839	)	$	1,107,543
Apache Corp., 4.875%, due 11/15/27		75,119,000		12/20/26		1.470%		1.000% quarterly		(1,195,511	)		(1,682,122	)		486,611
Teva Pharmaceutical Finance Netherlands III BV, 3.150%, due 10/1/26		25,010,000		6/20/26		2.060%		1.000% quarterly		(780,575	)		(1,588,963	)		808,388
Total	$	154,690,000							$	(2,442,382	)	$	(4,844,924	)	$	2,402,542

See Notes to Schedule of Investments.

    104     Western Asset Core Plus Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

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.IG.40 Index	$	6,007,195,500		6/20/28	1.000% quarterly	$	68,705,119	$	45,331,865	$	23,373,254

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - BUY PROTECTION4
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS MADE BY THE FUND†	MARKET VALUE3			UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED DEPRECIATION
Markit CDX.NA.HY.40 Index	$	304,031,100		6/20/28	5.000% quarterly	$	(4,565,460	)	$	920,088	$	(5,485,548	)

OTC TOTAL RETURN SWAPS
SWAP COUNTERPARTY	NOTIONAL AMOUNT		TERMINATION DATE		PERIODIC PAYMENTS MADE BY THE FUND‡	PERIODIC PAYMENTS RECEIVED BY THE FUND†	MARKET VALUE			UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED DEPRECIATION
JPMorgan Chase & Co.	$	146,660,000		8/21/23	Daily SOFR Compound + 0.100%**	U.S. Treasury Bonds, 2.375%, due 5/15/51**	$	(12,147,896	)		—	$	(12,147,896	)

See Notes to Schedule of Investments.

Western Asset Core Plus Bond Fund 2023 Quarterly Report         105

WESTERN ASSET CORE PLUS BOND FUND

Schedule of investments (unaudited) (cont’d) March 31, 2023

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.

⁴ If the Fund is a buyer of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Fund will either (i) receive from the seller of protection an amount equal to the notional amount of the swap and deliver the referenced obligation or the underlying securities comprising the referenced index or (ii) receive 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 the underlying securities comprising the referenced index.

† Percentage shown is an annual percentage rate.

‡ Periodic payments made/received by the Fund are based on the total return of the referenced entity.

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

** One time payment made at termination date.

Abbreviation(s) used in this table:

JPY	— Japanese Yen
MXN	— Mexican Peso
SOFR	— Secured Overnight Financing Rate
TIIE	— Tasa de Intere’s Interbancaria de Equilibrio (Equilibrium Interbanking Interest Rate)
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.

    106     Western Asset Core Plus Bond Fund 2023 Quarterly Report

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 Fund follows the accounting and reporting guidance in Financial Accounting Standards Board (“FASB”) Accounting Standards Codification Topic 946, Financial Services – Investment Companies (“ASC 946”). The following are significant accounting policies consistently followed by the Fund and are in conformity with U.S. generally accepted accounting principles (“GAAP”), including, but not limited to, ASC 946.

(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.

Pursuant to policies adopted by the Board of Directors, the Fund’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund’s manager is assisted by the Global Fund Valuation Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund’s pricing policies, and reporting to the Fund’s manager and 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.

107

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 – unadjusted 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)

108

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

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

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		—	$	3,359,238,019	$	13,880,576	$	3,373,118,595
Other Corporate Bonds & Notes		—		7,375,225,545		—		7,375,225,545
Mortgage-Backed Securities		—		7,835,668,351		—		7,835,668,351
Collateralized Mortgage Obligations		—		2,787,241,449		—		2,787,241,449
Sovereign Bonds		—		1,880,932,022		—		1,880,932,022
U.S. Government & Agency Obligations		—		1,657,914,969		—		1,657,914,969
Asset-Backed Securities		—		851,535,567		—		851,535,567
Senior Loans:
Information Technology		—		84,657,934		7,898,034		92,555,968
Other Senior Loans		—		736,683,210		—		736,683,210
U.S. Treasury Inflation Protected Securities		—		308,982,908		—		308,982,908
Investments in Underlying Funds	$	50,500,000		—		—		50,500,000
Purchased Options		14,464,261		—		—		14,464,261
Total Long-Term Investments		64,964,261		26,878,079,974		21,778,610		26,964,822,845
Short-Term Investments†		1,321,853,839		—		—		1,321,853,839
Total Investments	$	1,386,818,100	$	26,878,079,974	$	21,778,610	$	28,286,676,684

109

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††	$	415,035,502		—		—	$	415,035,502
Forward Foreign Currency Contracts††		—	$	10,880,462		—		10,880,462
Centrally Cleared Interest Rate Swaps††		—		343,153,581		—		343,153,581
Centrally Cleared Credit Default Swaps on Corporate Issues - Sell Protection††		—		2,402,542		—		2,402,542
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection††		—		23,373,254		—		23,373,254
Total Other Financial Instruments	$	415,035,502	$	379,809,839		—	$	794,845,341
Total	$	1,801,853,602	$	27,257,889,813	$	21,778,610	$	29,081,522,025

LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Written Options	$	66,982,362		—		—	$	66,982,362
Futures Contracts††		191,083,260		—		—		191,083,260
Forward Foreign Currency Contracts††		—	$	55,480,843		—		55,480,843
Centrally Cleared Interest Rate Swaps††		—		33,015,540		—		33,015,540
Centrally Cleared Credit Default Swaps on Credit Indices - Buy Protection††		—		5,485,548		—		5,485,548
OTC Total Return Swaps‡		—		12,147,896		—		12,147,896
Total	$	258,065,622	$	106,129,827		—	$	364,195,449

† See Schedule of Investments for additional detailed categorizations.

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

‡ Value includes any premium paid or received with respect to swap contracts.

110

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, 2023. The following transactions were effected in such company for the period ended March 31, 2023.

	Affiliate Value at December 31, 2022		Purchased				Sold				Realized Gain (Loss)		Dividend Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at March 31, 2023
			Cost		Shares		Proceeds		Shares
Western Asset Premier Institutional Government Reserves, Premium Shares	$	1,267,760,731	$	2,015,572,955		2,015,572,955	$	1,961,479,847		1,961,479,847		—	$	11,869,077		—	$	1,321,853,839

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