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

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
CORPORATE BONDS & NOTES - 35.8%
COMMUNICATION SERVICES - 3.4%
Diversified Telecommunication Services - 1.1%
AT&T Inc., Senior Notes		3.800	%		2/15/27	$	5,087,000	$	4,782,911
AT&T Inc., Senior Notes		2.300	%		6/1/27		12,330,000		10,921,968
AT&T Inc., Senior Notes		2.250	%		2/1/32		10,810,000		8,139,181
AT&T Inc., Senior Notes		2.550	%		12/1/33		3,570,000		2,623,262
AT&T Inc., Senior Notes		5.350	%		9/1/40		2,210,000		1,971,122
AT&T Inc., Senior Notes		5.550	%		8/15/41		2,560,000		2,300,607
AT&T Inc., Senior Notes		4.350	%		6/15/45		5,210,000		3,903,235
AT&T Inc., Senior Notes		3.500	%		9/15/53		6,221,000		3,847,053
AT&T Inc., Senior Notes		3.550	%		9/15/55		8,291,000		5,080,613
AT&T Inc., Senior Notes		3.800	%		12/1/57		790,000		500,963
AT&T Inc., Senior Notes		3.650	%		9/15/59		2,080,000		1,266,899
Telefonica Emisiones SA, Senior Notes		4.103	%		3/8/27		219,000		206,464
Telefonica Emisiones SA, Senior Notes		5.213	%		3/8/47		2,821,000		2,249,495
Verizon Communications Inc., Senior Notes		2.625	%		8/15/26		2,387,000		2,205,741
Verizon Communications Inc., Senior Notes		4.125	%		3/16/27		6,114,000		5,817,686
Verizon Communications Inc., Senior Notes		3.000	%		3/22/27		1,960,000		1,799,247
Verizon Communications Inc., Senior Notes		2.100	%		3/22/28		7,170,000		6,161,492
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		9,637,000		9,059,226
Verizon Communications Inc., Senior Notes		3.875	%		2/8/29		1,728,000		1,583,315
Verizon Communications Inc., Senior Notes		3.150	%		3/22/30		5,090,000		4,346,424
Verizon Communications Inc., Senior Notes		1.750	%		1/20/31		7,020,000		5,292,878
Verizon Communications Inc., Senior Notes		2.550	%		3/21/31		11,027,000		8,785,842
Verizon Communications Inc., Senior Notes		2.355	%		3/15/32		30,000		22,897
Verizon Communications Inc., Senior Notes		4.500	%		8/10/33		30,258,000		26,953,859
Verizon Communications Inc., Senior Notes		5.250	%		3/16/37		2,097,000		1,958,321
Verizon Communications Inc., Senior Notes		2.650	%		11/20/40		7,300,000		4,624,259
Verizon Communications Inc., Senior Notes		3.400	%		3/22/41		2,220,000		1,574,927
Verizon Communications Inc., Senior Notes		3.850	%		11/1/42		11,066,000		8,187,747
Verizon Communications Inc., Senior Notes		4.125	%		8/15/46		3,739,000		2,796,684
Verizon Communications Inc., Senior Notes		4.862	%		8/21/46		514,000		425,295
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		564,000		523,637
Verizon Communications Inc., Senior Notes		4.000	%		3/22/50		14,010,000		10,048,959
Verizon Communications Inc., Senior Notes		2.875	%		11/20/50		1,610,000		931,526
Total Diversified Telecommunication Services									150,893,735
Entertainment - 0.2%
Walt Disney Co., Senior Notes		6.200	%		12/15/34		36,000		37,433
Walt Disney Co., Senior Notes		6.650	%		11/15/37		1,970,000		2,116,460

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         1

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Entertainment - (continued)
Warnermedia Holdings Inc., Senior Notes		6.412	%		3/15/26	$	6,220,000	$	6,221,552
Warnermedia Holdings Inc., Senior Notes		3.755	%		3/15/27		3,410,000		3,149,655
Warnermedia Holdings Inc., Senior Notes		4.054	%		3/15/29		4,560,000		4,064,957
Warnermedia Holdings Inc., Senior Notes		4.279	%		3/15/32		14,740,000		12,520,334
Warnermedia Holdings Inc., Senior Notes		5.050	%		3/15/42		1,650,000		1,277,007
Warnermedia Holdings Inc., Senior Notes		5.141	%		3/15/52		880,000		654,400
Total Entertainment									30,041,798
Interactive Media & Services - 0.1%
Alphabet Inc., Senior Notes		0.450	%		8/15/25		1,740,000		1,594,433
Alphabet Inc., Senior Notes		1.100	%		8/15/30		3,810,000		2,967,263
Alphabet Inc., Senior Notes		1.900	%		8/15/40		3,820,000		2,391,386
Alphabet Inc., Senior Notes		2.050	%		8/15/50		2,360,000		1,289,875
Total Interactive Media & Services									8,242,957
Media - 1.6%
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.908	%		7/23/25		27,894,000		27,265,804
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		3.750	%		2/15/28		940,000		848,041
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.200	%		3/15/28		6,296,000		5,780,909
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.050	%		3/30/29		23,297,000		21,784,539
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		2.800	%		4/1/31		2,440,000		1,904,054
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.400	%		4/1/33		11,290,000		9,607,664
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		6.384	%		10/23/35		170,000		158,500
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		4/1/38		8,337,000		6,824,210
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		3.500	%		3/1/42		3,280,000		2,029,063

See Notes to Schedule of Investments.

    2     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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		6.484	%		10/23/45	$	2,474,000	$	2,162,019
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		5/1/47		2,242,000		1,710,029
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.750	%		4/1/48		1,857,000		1,484,172
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.125	%		7/1/49		8,887,000		6,485,839
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		4.800	%		3/1/50		9,320,000		6,523,871
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		3.900	%		6/1/52		11,220,000		6,715,995
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		3.850	%		4/1/61		8,500,000		4,756,001
Charter Communications Operating LLC/ Charter Communications Operating Capital Corp., Senior Secured Notes		5.500	%		4/1/63		5,440,000		4,029,275
Comcast Corp., Senior Notes		3.950	%		10/15/25		6,395,000		6,206,254
Comcast Corp., Senior Notes		3.150	%		3/1/26		4,835,000		4,592,641
Comcast Corp., Senior Notes		3.300	%		4/1/27		2,900,000		2,701,199
Comcast Corp., Senior Notes		4.150	%		10/15/28		29,841,000		28,278,526	(a)
Comcast Corp., Senior Notes		3.400	%		4/1/30		3,920,000		3,459,677
Comcast Corp., Senior Notes		4.250	%		10/15/30		17,737,000		16,344,956
Comcast Corp., Senior Notes		7.050	%		3/15/33		3,475,000		3,795,077
Comcast Corp., Senior Notes		5.650	%		6/15/35		2,669,000		2,638,883
Comcast Corp., Senior Notes		3.900	%		3/1/38		3,430,000		2,804,441
Comcast Corp., Senior Notes		3.250	%		11/1/39		1,490,000		1,089,697
Comcast Corp., Senior Notes		3.750	%		4/1/40		4,130,000		3,201,699
Comcast Corp., Senior Notes		3.400	%		7/15/46		690,000		470,729
Comcast Corp., Senior Notes		4.000	%		8/15/47		1,510,000		1,129,399
Comcast Corp., Senior Notes		3.969	%		11/1/47		5,770,000		4,310,075
Comcast Corp., Senior Notes		4.000	%		3/1/48		6,080,000		4,563,438
Comcast Corp., Senior Notes		3.999	%		11/1/49		3,070,000		2,281,123

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         3

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Media - (continued)
Comcast Corp., Senior Notes		3.450	%		2/1/50	$	2,420,000	$	1,637,875
Comcast Corp., Senior Notes		2.800	%		1/15/51		5,160,000		3,023,948
Comcast Corp., Senior Notes		2.887	%		11/1/51		6,340,000		3,739,398
Comcast Corp., Senior Notes		2.937	%		11/1/56		5,924,000		3,369,579
Comcast Corp., Senior Notes		4.950	%		10/15/58		1,150,000		990,815
Fox Corp., Senior Notes		5.476	%		1/25/39		18,060,000		15,620,861
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		3,441,000		3,123,187
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		403,000		388,494
Time Warner Cable LLC, Senior Secured Notes		6.750	%		6/15/39		985,000		902,309
Time Warner Cable LLC, Senior Secured Notes		5.875	%		11/15/40		5,058,000		4,194,229
Time Warner Cable LLC, Senior Secured Notes		5.500	%		9/1/41		18,000		14,092
Total Media									234,942,586
Wireless Telecommunication Services - 0.4%
Sprint Spectrum Co. LLC/Sprint Spectrum Co. II LLC/Sprint Spectrum Co. III LLC, Senior Secured Notes		4.738	%		3/20/25		527,250		521,804	(b)
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/25		6,820,000		6,582,369
T-Mobile USA Inc., Senior Notes		3.750	%		4/15/27		1,330,000		1,243,225
T-Mobile USA Inc., Senior Notes		3.875	%		4/15/30		23,820,000		21,112,831
T-Mobile USA Inc., Senior Notes		2.550	%		2/15/31		7,900,000		6,289,095
T-Mobile USA Inc., Senior Notes		2.250	%		11/15/31		19,220,000		14,654,820
T-Mobile USA Inc., Senior Notes		4.375	%		4/15/40		4,020,000		3,232,026
T-Mobile USA Inc., Senior Notes		3.000	%		2/15/41		5,020,000		3,328,707
T-Mobile USA Inc., Senior Notes		3.300	%		2/15/51		2,300,000		1,440,458
Total Wireless Telecommunication Services									58,405,335
TOTAL COMMUNICATION SERVICES									482,526,411
CONSUMER DISCRETIONARY - 2.1%
Automobiles - 0.1%
General Motors Co., Senior Notes		5.600	%		10/15/32		2,580,000		2,410,979
General Motors Co., Senior Notes		6.600	%		4/1/36		400,000		389,045
General Motors Co., Senior Notes		5.150	%		4/1/38		797,000		666,280
General Motors Co., Senior Notes		6.250	%		10/2/43		4,266,000		3,826,178

See Notes to Schedule of Investments.

    4     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Automobiles - (continued)
General Motors Co., Senior Notes		5.950	%		4/1/49	$	716,000	$	607,927
General Motors Financial Co. Inc., Senior Notes		4.350	%		1/17/27		949,000		893,647
Total Automobiles									8,794,056
Broadline Retail - 0.8%
Amazon.com Inc., Senior Notes		3.300	%		4/13/27		2,400,000		2,259,236
Amazon.com Inc., Senior Notes		1.200	%		6/3/27		8,090,000		7,031,498
Amazon.com Inc., Senior Notes		3.150	%		8/22/27		6,261,000		5,827,273
Amazon.com Inc., Senior Notes		3.450	%		4/13/29		5,130,000		4,739,577
Amazon.com Inc., Senior Notes		1.500	%		6/3/30		4,990,000		3,952,973
Amazon.com Inc., Senior Notes		2.100	%		5/12/31		4,510,000		3,619,036
Amazon.com Inc., Senior Notes		3.600	%		4/13/32		21,400,000		18,983,155	(a)
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		6,705,000		5,727,207
Amazon.com Inc., Senior Notes		4.950	%		12/5/44		3,036,000		2,833,222
Amazon.com Inc., Senior Notes		4.050	%		8/22/47		28,455,000		22,892,260	(a)
Amazon.com Inc., Senior Notes		2.500	%		6/3/50		19,520,000		11,447,997
Amazon.com Inc., Senior Notes		4.250	%		8/22/57		4,760,000		3,814,872
Prosus NV, Senior Notes		3.680	%		1/21/30		11,350,000		9,153,584	(b)
Prosus NV, Senior Notes		4.027	%		8/3/50		15,440,000		8,851,027	(b)
Prosus NV, Senior Notes		3.832	%		2/8/51		14,500,000		8,017,383	(b)
Total Broadline Retail									119,150,300
Hotels, Restaurants & Leisure - 0.9%
Las Vegas Sands Corp., Senior Notes		3.200	%		8/8/24		11,044,000		10,691,539
Las Vegas Sands Corp., Senior Notes		2.900	%		6/25/25		2,610,000		2,434,778
McDonald’s Corp., Senior Notes		1.450	%		9/1/25		7,940,000		7,354,575
McDonald’s Corp., Senior Notes		3.700	%		1/30/26		3,953,000		3,803,189
McDonald’s Corp., Senior Notes		3.500	%		3/1/27		2,484,000		2,339,461
McDonald’s Corp., Senior Notes		3.500	%		7/1/27		3,620,000		3,392,353
McDonald’s Corp., Senior Notes		3.800	%		4/1/28		1,513,000		1,423,708
McDonald’s Corp., Senior Notes		2.125	%		3/1/30		8,770,000		7,195,325
McDonald’s Corp., Senior Notes		3.600	%		7/1/30		4,130,000		3,689,678
McDonald’s Corp., Senior Notes		4.875	%		12/9/45		5,870,000		5,088,500
McDonald’s Corp., Senior Notes		3.625	%		9/1/49		800,000		564,070
McDonald’s Corp., Senior Notes		4.200	%		4/1/50		9,400,000		7,306,598
Sands China Ltd., Senior Notes		5.375	%		8/8/25		7,559,000		7,327,364
Sands China Ltd., Senior Notes		5.650	%		8/8/28		31,015,000		29,215,069
Sands China Ltd., Senior Notes		3.100	%		3/8/29		4,690,000		3,883,956

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         5

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Hotels, Restaurants & Leisure - (continued)
Sands China Ltd., Senior Notes		4.875	%		6/18/30	$	15,340,000	$	13,257,170
Sands China Ltd., Senior Notes		3.500	%		8/8/31		21,050,000		16,674,543
Total Hotels, Restaurants & Leisure									125,641,876
Household Durables - 0.0%††
Newell Brands Inc., Senior Notes		5.200	%		4/1/26		179,000		168,858
Specialty Retail - 0.2%
Home Depot Inc., Senior Notes		2.500	%		4/15/27		4,170,000		3,806,769
Home Depot Inc., Senior Notes		3.900	%		12/6/28		750,000		708,524
Home Depot Inc., Senior Notes		2.700	%		4/15/30		4,380,000		3,743,094
Home Depot Inc., Senior Notes		3.300	%		4/15/40		5,250,000		3,916,463
Home Depot Inc., Senior Notes		3.900	%		6/15/47		820,000		627,078
Home Depot Inc., Senior Notes		3.350	%		4/15/50		9,410,000		6,421,690
Lowe’s Cos. Inc., Senior Notes		1.700	%		9/15/28		9,030,000		7,544,818
Lowe’s Cos. Inc., Senior Notes		4.500	%		4/15/30		2,800,000		2,613,790
Total Specialty Retail									29,382,226
Textiles, Apparel & Luxury Goods - 0.1%
NIKE Inc., Senior Notes		2.400	%		3/27/25		3,750,000		3,588,510
NIKE Inc., Senior Notes		2.750	%		3/27/27		6,050,000		5,591,900
NIKE Inc., Senior Notes		2.850	%		3/27/30		5,960,000		5,166,426
NIKE Inc., Senior Notes		3.250	%		3/27/40		2,820,000		2,137,721
NIKE Inc., Senior Notes		3.375	%		3/27/50		1,170,000		835,748
Total Textiles, Apparel & Luxury Goods									17,320,305
TOTAL CONSUMER DISCRETIONARY									300,457,621
CONSUMER STAPLES - 1.6%
Beverages - 0.6%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.650	%		2/1/26		13,236,000		12,715,779
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		15,181,000		13,240,474
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.000	%		4/13/28		1,270,000		1,202,666
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		21,378,000		20,735,781
Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.500	%		6/1/30		2,710,000		2,412,865
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.350	%		6/1/40		10,440,000		8,883,287
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.600	%		4/15/48		966,000		817,106

See Notes to Schedule of Investments.

    6     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Beverages - (continued)
Anheuser-Busch InBev Worldwide Inc., Senior Notes		5.550	%		1/23/49	$	4,520,000	$	4,334,619
Coca-Cola Co., Senior Notes		3.375	%		3/25/27		3,540,000		3,354,636
Coca-Cola Co., Senior Notes		2.500	%		6/1/40		4,010,000		2,732,381
Coca-Cola Co., Senior Notes		2.600	%		6/1/50		3,180,000		1,946,510
Constellation Brands Inc., Senior Notes		3.600	%		5/9/24		3,890,000		3,833,963
Constellation Brands Inc., Senior Notes		4.350	%		5/9/27		5,460,000		5,227,222
PepsiCo Inc., Senior Notes		2.250	%		3/19/25		760,000		726,277
PepsiCo Inc., Senior Notes		2.625	%		3/19/27		760,000		701,409
PepsiCo Inc., Senior Notes		1.625	%		5/1/30		2,410,000		1,937,575
PepsiCo Inc., Senior Notes		2.875	%		10/15/49		2,270,000		1,486,854
Total Beverages									86,289,404
Consumer Staples Distribution & Retail - 0.1%
Costco Wholesale Corp., Senior Notes		1.375	%		6/20/27		11,490,000		10,050,376
Costco Wholesale Corp., Senior Notes		1.600	%		4/20/30		10,000		8,035
Costco Wholesale Corp., Senior Notes		1.750	%		4/20/32		5,190,000		3,976,054
Walmart Inc., Senior Notes		1.500	%		9/22/28		2,940,000		2,495,643
Walmart Inc., Senior Notes		2.375	%		9/24/29		1,060,000		924,426
Walmart Inc., Senior Notes		1.800	%		9/22/31		2,020,000		1,590,853
Total Consumer Staples Distribution & Retail									19,045,387
Food Products - 0.3%
Danone SA, Senior Notes		2.589	%		11/2/23		6,493,000		6,475,292	(b)
Danone SA, Senior Notes		2.947	%		11/2/26		4,317,000		4,011,518	(b)
Hershey Co., Senior Notes		0.900	%		6/1/25		1,930,000		1,790,124
Kraft Heinz Foods Co., Senior Notes		3.000	%		6/1/26		2,588,000		2,427,080
Kraft Heinz Foods Co., Senior Notes		5.000	%		7/15/35		293,000		271,856
Kraft Heinz Foods Co., Senior Notes		5.000	%		6/4/42		36,000		31,208
Mars Inc., Senior Notes		2.700	%		4/1/25		3,269,000		3,133,060	(b)
Mars Inc., Senior Notes		3.200	%		4/1/30		9,788,000		8,601,687	(b)
Mars Inc., Senior Notes		2.375	%		7/16/40		3,260,000		2,064,913	(b)
Mondelez International Inc., Senior Notes		1.500	%		5/4/25		10,020,000		9,378,423
Total Food Products									38,185,161
Household Products - 0.0%††
Kimberly-Clark Corp., Senior Notes		3.100	%		3/26/30		1,810,000		1,592,012
Procter & Gamble Co., Senior Notes		3.000	%		3/25/30		3,430,000		3,048,838
Total Household Products									4,640,850
Personal Care Products - 0.2%
Haleon US Capital LLC, Senior Notes		3.375	%		3/24/27		6,490,000		6,023,808
Haleon US Capital LLC, Senior Notes		3.375	%		3/24/29		4,930,000		4,423,359

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         7

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Personal Care Products - (continued)
Haleon US Capital LLC, Senior Notes		3.625	%		3/24/32	$	7,020,000	$	6,023,903
Kenvue Inc., Senior Notes		4.900	%		3/22/33		8,770,000		8,386,441	(b)
Total Personal Care Products									24,857,511
Tobacco - 0.4%
Altria Group Inc., Senior Notes		2.350	%		5/6/25		1,770,000		1,674,944
Altria Group Inc., Senior Notes		4.400	%		2/14/26		8,997,000		8,737,233
Altria Group Inc., Senior Notes		4.800	%		2/14/29		2,049,000		1,949,659
Altria Group Inc., Senior Notes		2.450	%		2/4/32		2,370,000		1,789,062
Altria Group Inc., Senior Notes		5.800	%		2/14/39		4,635,000		4,300,391
Altria Group Inc., Senior Notes		5.950	%		2/14/49		21,954,000		19,744,403
Altria Group Inc., Senior Notes		6.200	%		2/14/59		710,000		664,759
BAT Capital Corp., Senior Notes		3.557	%		8/15/27		4,675,000		4,279,469
BAT Capital Corp., Senior Notes		2.259	%		3/25/28		3,530,000		2,987,823
BAT Capital Corp., Senior Notes		4.540	%		8/15/47		5,017,000		3,457,197
Philip Morris International Inc., Senior Notes		2.100	%		5/1/30		4,340,000		3,466,499
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		1,406,000		1,123,747
Reynolds American Inc., Senior Notes		6.150	%		9/15/43		1,110,000		982,070
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		1,610,000		1,335,324
Total Tobacco									56,492,580
TOTAL CONSUMER STAPLES									229,510,893
ENERGY - 6.4%
Energy Equipment & Services - 0.0%††
Halliburton Co., Senior Notes		3.800	%		11/15/25		78,000		75,450
Halliburton Co., Senior Notes		5.000	%		11/15/45		1,075,000		912,579
Total Energy Equipment & Services									988,029
Oil, Gas & Consumable Fuels - 6.4%
Apache Corp., Senior Notes		6.000	%		1/15/37		89,000		80,231
Apache Corp., Senior Notes		5.100	%		9/1/40		11,863,000		9,437,072
Apache Corp., Senior Notes		5.250	%		2/1/42		6,878,000		5,392,202
Apache Corp., Senior Notes		4.750	%		4/15/43		18,342,000		13,379,898
Apache Corp., Senior Notes		4.250	%		1/15/44		18,144,000		11,901,194
BP Capital Markets America Inc., Senior Notes		3.119	%		5/4/26		8,803,000		8,322,981
BP Capital Markets America Inc., Senior Notes		3.633	%		4/6/30		9,410,000		8,478,636
BP Capital Markets America Inc., Senior Notes		1.749	%		8/10/30		5,000,000		3,956,560

See Notes to Schedule of Investments.

    8     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Oil, Gas & Consumable Fuels - (continued)
BP Capital Markets America Inc., Senior Notes		3.000	%		2/24/50	$	14,510,000	$	9,060,200
BP Capital Markets America Inc., Senior Notes		2.772	%		11/10/50		1,240,000		731,360
BP Capital Markets America Inc., Senior Notes		2.939	%		6/4/51		760,000		464,839
Cameron LNG LLC, Senior Secured Notes		2.902	%		7/15/31		9,880,000		8,179,365	(b)
Cameron LNG LLC, Senior Secured Notes		3.302	%		1/15/35		15,650,000		12,474,873	(b)
Chevron Corp., Senior Notes		1.995	%		5/11/27		2,750,000		2,465,885
Chevron Corp., Senior Notes		3.078	%		5/11/50		8,710,000		5,851,914
Chevron USA Inc., Senior Notes		3.850	%		1/15/28		8,880,000		8,445,278
Columbia Pipelines Operating Co. LLC, Senior Notes		6.036	%		11/15/33		15,920,000		15,548,398	(b)
Columbia Pipelines Operating Co. LLC, Senior Notes		6.544	%		11/15/53		5,630,000		5,510,306	(b)
Conoco Funding Co., Senior Notes		7.250	%		10/15/31		313,000		346,647
ConocoPhillips Co., Senior Notes		6.950	%		4/15/29		573,000		620,863
Continental Resources Inc., Senior Notes		3.800	%		6/1/24		2,897,000		2,851,074
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		14,875,000		13,803,943
Continental Resources Inc., Senior Notes		4.900	%		6/1/44		7,230,000		5,319,502
Coterra Energy Inc., Senior Notes		3.900	%		5/15/27		11,379,000		10,692,314
Coterra Energy Inc., Senior Notes		4.375	%		3/15/29		25,310,000		23,452,417
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		2,774,000		2,760,849
Devon Energy Corp., Senior Notes		5.250	%		10/15/27		1,026,000		1,000,025
Devon Energy Corp., Senior Notes		4.500	%		1/15/30		2,428,000		2,207,620
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		16,630,000		14,732,306
Devon Energy Corp., Senior Notes		4.750	%		5/15/42		9,470,000		7,535,055
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		21,328,000		17,205,629
Diamondback Energy Inc., Senior Notes		3.250	%		12/1/26		3,669,000		3,432,330
Diamondback Energy Inc., Senior Notes		3.500	%		12/1/29		13,852,000		12,301,882
Diamondback Energy Inc., Senior Notes		3.125	%		3/24/31		6,100,000		5,085,363
Diamondback Energy Inc., Senior Notes		4.400	%		3/24/51		5,090,000		3,758,024
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		70,455,000		46,490,774
El Paso Natural Gas Co. LLC, Senior Notes		8.375	%		6/15/32		2,696,000		2,960,321
Energy Transfer LP, Senior Notes		2.900	%		5/15/25		7,020,000		6,672,153
Energy Transfer LP, Senior Notes		4.750	%		1/15/26		2,060,000		2,005,127
Energy Transfer LP, Senior Notes		5.500	%		6/1/27		6,670,000		6,569,207
Energy Transfer LP, Senior Notes		4.950	%		6/15/28		1,907,000		1,826,244
Energy Transfer LP, Senior Notes		5.250	%		4/15/29		6,358,000		6,099,372

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         9

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Oil, Gas & Consumable Fuels - (continued)
Energy Transfer LP, Senior Notes		3.750	%		5/15/30	$	21,808,000	$	19,009,396
Energy Transfer LP, Senior Notes		6.100	%		2/15/42		2,185,000		1,975,527
Energy Transfer LP, Senior Notes		5.300	%		4/1/44		540,000		440,150
Energy Transfer LP, Senior Notes		5.400	%		10/1/47		7,451,000		6,154,917
Energy Transfer LP, Senior Notes		6.250	%		4/15/49		11,182,000		10,277,227
Enterprise Products Operating LLC, Senior Notes		4.150	%		10/16/28		10,006,000		9,387,675
Enterprise Products Operating LLC, Senior Notes		3.125	%		7/31/29		4,660,000		4,097,488
Enterprise Products Operating LLC, Senior Notes		2.800	%		1/31/30		21,270,000		18,071,568
Enterprise Products Operating LLC, Senior Notes		6.650	%		10/15/34		3,670,000		3,885,798
Enterprise Products Operating LLC, Senior Notes		7.550	%		4/15/38		430,000		479,273
Enterprise Products Operating LLC, Senior Notes		5.700	%		2/15/42		510,000		488,489
Enterprise Products Operating LLC, Senior Notes		4.450	%		2/15/43		1,800,000		1,475,142
Enterprise Products Operating LLC, Senior Notes		4.850	%		3/15/44		410,000		352,612
Enterprise Products Operating LLC, Senior Notes		5.100	%		2/15/45		5,000,000		4,431,003
Enterprise Products Operating LLC, Senior Notes		4.800	%		2/1/49		3,960,000		3,359,331
Enterprise Products Operating LLC, Senior Notes		4.200	%		1/31/50		2,620,000		2,025,137
Enterprise Products Operating LLC, Senior Notes		3.700	%		1/31/51		13,300,000		9,426,018
Enterprise Products Operating LLC, Senior Notes		3.950	%		1/31/60		905,000		636,797
Enterprise Products Operating LLC, Senior Notes (5.375% to 2/15/28 then 3 mo. Term SOFR + 2.832%)		5.375	%		2/15/78		2,590,000		2,159,998	(c)
EOG Resources Inc., Senior Notes		4.150	%		1/15/26		203,000		197,212
EOG Resources Inc., Senior Notes		4.375	%		4/15/30		13,282,000		12,527,316
EOG Resources Inc., Senior Notes		3.900	%		4/1/35		6,890,000		5,854,700
EOG Resources Inc., Senior Notes		4.950	%		4/15/50		16,795,000		14,886,042
EQT Corp., Senior Notes		7.000	%		2/1/30		5,000,000		5,149,579
Exxon Mobil Corp., Senior Notes		2.992	%		3/19/25		6,340,000		6,123,872

See Notes to Schedule of Investments.

    10     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Oil, Gas & Consumable Fuels - (continued)
Exxon Mobil Corp., Senior Notes		3.043	%		3/1/26	$	2,946,000	$	2,794,841
Exxon Mobil Corp., Senior Notes		2.440	%		8/16/29		13,168,000		11,398,075
Exxon Mobil Corp., Senior Notes		3.482	%		3/19/30		6,450,000		5,827,782
Exxon Mobil Corp., Senior Notes		4.227	%		3/19/40		2,000,000		1,705,396
Exxon Mobil Corp., Senior Notes		4.114	%		3/1/46		3,663,000		2,944,538
Exxon Mobil Corp., Senior Notes		4.327	%		3/19/50		3,110,000		2,555,923
Exxon Mobil Corp., Senior Notes		3.452	%		4/15/51		4,000,000		2,802,399
KazMunayGas National Co. JSC, Senior Notes		5.375	%		4/24/30		12,603,000		11,487,530	(b)
KazMunayGas National Co. JSC, Senior Notes		5.750	%		4/19/47		13,553,000		10,568,087	(b)
KazMunayGas National Co. JSC, Senior Notes		6.375	%		10/24/48		2,803,000		2,290,586	(b)
Kinder Morgan Energy Partners LP, Senior Notes		4.250	%		9/1/24		1,792,000		1,763,369
Kinder Morgan Energy Partners LP, Senior Notes		7.300	%		8/15/33		110,000		115,706
Kinder Morgan Energy Partners LP, Senior Notes		6.550	%		9/15/40		620,000		595,202
Kinder Morgan Energy Partners LP, Senior Notes		6.375	%		3/1/41		730,000		691,620
Kinder Morgan Energy Partners LP, Senior Notes		5.500	%		3/1/44		540,000		460,007
Kinder Morgan Energy Partners LP, Senior Notes		5.400	%		9/1/44		140,000		118,081
Kinder Morgan Inc., Senior Notes		4.300	%		6/1/25		1,800,000		1,754,396
Kinder Morgan Inc., Senior Notes		4.300	%		3/1/28		14,400,000		13,559,829
Kinder Morgan Inc., Senior Notes		5.550	%		6/1/45		14,600,000		12,562,845
Kinder Morgan Inc., Senior Notes		5.050	%		2/15/46		980,000		785,048
Kinder Morgan Inc., Senior Notes		5.200	%		3/1/48		790,000		647,352
MPLX LP, Senior Notes		4.125	%		3/1/27		2,687,000		2,543,437
MPLX LP, Senior Notes		4.000	%		3/15/28		4,267,000		3,949,682
MPLX LP, Senior Notes		4.800	%		2/15/29		1,684,000		1,598,584
MPLX LP, Senior Notes		4.500	%		4/15/38		4,308,000		3,493,887
MPLX LP, Senior Notes		5.200	%		3/1/47		11,830,000		9,675,305
MPLX LP, Senior Notes		5.200	%		12/1/47		4,750,000		3,847,662
MPLX LP, Senior Notes		4.700	%		4/15/48		8,277,000		6,282,031
MPLX LP, Senior Notes		5.500	%		2/15/49		2,554,000		2,165,283
Occidental Petroleum Corp., Senior Notes		6.950	%		7/1/24		286,000		288,078
Occidental Petroleum Corp., Senior Notes		5.550	%		3/15/26		627,000		619,341

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         11

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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		3.200	%		8/15/26	$	2,550,000	$	2,344,421
Occidental Petroleum Corp., Senior Notes		3.000	%		2/15/27		2,257,000		2,033,391
Occidental Petroleum Corp., Senior Notes		3.500	%		8/15/29		12,009,000		10,227,230
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		8,284,000		8,972,284
Occidental Petroleum Corp., Senior Notes		6.200	%		3/15/40		2,346,000		2,238,835
Occidental Petroleum Corp., Senior Notes		4.500	%		7/15/44		18,287,000		12,913,274
Occidental Petroleum Corp., Senior Notes		4.625	%		6/15/45		5,060,000		3,644,895
Occidental Petroleum Corp., Senior Notes		6.600	%		3/15/46		2,570,000		2,528,302
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		3,376,000		2,481,073
Occidental Petroleum Corp., Senior Notes		4.100	%		2/15/47		3,349,000		2,215,951
Occidental Petroleum Corp., Senior Notes		4.200	%		3/15/48		4,594,000		3,179,010
ONEOK Inc., Senior Notes		5.550	%		11/1/26		3,190,000		3,169,975
ONEOK Inc., Senior Notes		5.800	%		11/1/30		5,080,000		4,976,127
ONEOK Inc., Senior Notes		6.050	%		9/1/33		10,450,000		10,272,548
ONEOK Inc., Senior Notes		6.625	%		9/1/53		13,570,000		13,303,889
Pertamina Persero PT, Senior Notes		6.000	%		5/3/42		6,914,000		6,318,660	(b)
Petrobras Global Finance BV, Senior Notes		6.250	%		3/17/24		2,087,000		2,084,959
Petroleos del Peru SA, Senior Notes		4.750	%		6/19/32		30,909,000		21,876,043	(b)
Petroleos del Peru SA, Senior Notes		5.625	%		6/19/47		7,630,000		4,618,991	(b)
Petroleos Mexicanos, Senior Notes		5.500	%		6/27/44		5,746,000		3,179,613
Petroleos Mexicanos, Senior Notes		6.375	%		1/23/45		8,590,000		5,023,393
Petroleos Mexicanos, Senior Notes		5.625	%		1/23/46		8,324,000		4,557,473
Petroleos Mexicanos, Senior Notes		6.750	%		9/21/47		8,367,000		4,966,202
Pioneer Natural Resources Co., Senior Notes		1.125	%		1/15/26		1,890,000		1,708,855
Pioneer Natural Resources Co., Senior Notes		1.900	%		8/15/30		7,290,000		5,724,512
Pioneer Natural Resources Co., Senior Notes		2.150	%		1/15/31		16,630,000		13,133,486
Reliance Industries Ltd., Senior Notes		2.875	%		1/12/32		12,900,000		10,304,191	(b)
Reliance Industries Ltd., Senior Notes		3.625	%		1/12/52		22,500,000		14,385,374	(b)
Schlumberger Holdings Corp., Senior Notes		3.900	%		5/17/28		142,000		132,003	(b)
Shell International Finance BV, Senior Notes		2.875	%		5/10/26		6,654,000		6,279,753
Shell International Finance BV, Senior Notes		2.375	%		11/7/29		8,650,000		7,369,348
Shell International Finance BV, Senior Notes		2.750	%		4/6/30		11,040,000		9,500,997
Shell International Finance BV, Senior Notes		4.550	%		8/12/43		1,451,000		1,233,182
Shell International Finance BV, Senior Notes		4.375	%		5/11/45		4,084,000		3,356,255
Shell International Finance BV, Senior Notes		4.000	%		5/10/46		3,779,000		2,929,804
Shell International Finance BV, Senior Notes		3.250	%		4/6/50		17,290,000		11,497,128

See Notes to Schedule of Investments.

    12     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Oil, Gas & Consumable Fuels - (continued)
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32	$	3,985,000	$	4,386,876
Targa Resources Corp., Senior Notes		5.200	%		7/1/27		10,940,000		10,726,552
Targa Resources Corp., Senior Notes		4.950	%		4/15/52		2,600,000		2,003,201
Tennessee Gas Pipeline Co. LLC, Senior Notes		2.900	%		3/1/30		6,590,000		5,509,362	(b)
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.850	%		2/1/26		17,006,000		17,686,882
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		3.250	%		5/15/30		5,340,000		4,586,110
Western Midstream Operating LP, Senior Notes		3.100	%		2/1/25		2,630,000		2,518,844
Western Midstream Operating LP, Senior Notes		4.050	%		2/1/30		10,140,000		8,874,348
Williams Cos. Inc., Senior Notes		3.750	%		6/15/27		7,760,000		7,218,878
Williams Cos. Inc., Senior Notes		3.500	%		11/15/30		1,650,000		1,423,728
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		2,125,000		2,264,134
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		23,000		24,727
Williams Cos. Inc., Senior Notes		8.750	%		3/15/32		8,825,000		10,042,197
Williams Cos. Inc., Senior Notes		4.900	%		1/15/45		6,086,000		4,912,725
Williams Cos. Inc., Senior Notes		5.100	%		9/15/45		6,730,000		5,662,914
Williams Cos. Inc., Senior Notes		4.850	%		3/1/48		2,260,000		1,807,961
Total Oil, Gas & Consumable Fuels									908,505,268
TOTAL ENERGY									909,493,297
FINANCIALS - 12.2%
Banks - 8.1%
ABN AMRO Bank NV, Subordinated Notes		4.750	%		7/28/25		1,352,000		1,310,745	(b)
Banco Santander SA, Senior Notes		2.746	%		5/28/25		28,000,000		26,377,250
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		1,000,000		923,812	(c)
Bank of America Corp., Senior Notes		4.000	%		4/1/24		3,134,000		3,105,260
Bank of America Corp., Senior Notes		3.500	%		4/19/26		4,567,000		4,313,585
Bank of America Corp., Senior Notes		5.000	%		1/21/44		9,215,000		8,120,963
Bank of America Corp., Senior Notes (1.319% to 6/19/25 then SOFR + 1.150%)		1.319	%		6/19/26		49,280,000		45,208,400	(c)
Bank of America Corp., Senior Notes (1.898% to 7/23/30 then SOFR + 1.530%)		1.898	%		7/23/31		3,000,000		2,280,824	(c)
Bank of America Corp., Senior Notes (2.572% to 10/20/31 then SOFR + 1.210%)		2.572	%		10/20/32		14,650,000		11,264,448	(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         13

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
Bank of America Corp., Senior Notes (2.592% to 4/29/30 then SOFR + 2.150%)		2.592	%		4/29/31	$	15,760,000	$	12,672,317	(c)
Bank of America Corp., Senior Notes (2.972% to 2/4/32 then SOFR + 1.330%)		2.972	%		2/4/33		13,820,000		10,903,043	(c)
Bank of America Corp., Senior Notes (3.419% to 12/20/27 then 3 mo. Term SOFR + 1.302%)		3.419	%		12/20/28		17,046,000		15,297,262	(c)
Bank of America Corp., Senior Notes (3.593% to 7/21/27 then 3 mo. Term SOFR + 1.632%)		3.593	%		7/21/28		7,711,000		7,045,562	(c)
Bank of America Corp., Senior Notes (3.841% to 4/25/24 then SOFR + 1.110%)		3.841	%		4/25/25		7,260,000		7,158,292	(c)
Bank of America Corp., Senior Notes (3.946% to 1/23/48 then 3 mo. Term SOFR + 1.452%)		3.946	%		1/23/49		3,717,000		2,743,401	(c)
Bank of America Corp., Senior Notes (3.970% to 3/5/28 then 3 mo. Term SOFR + 1.332%)		3.970	%		3/5/29		5,000,000		4,582,487	(c)
Bank of America Corp., Senior Notes (3.974% to 2/7/29 then 3 mo. Term SOFR + 1.472%)		3.974	%		2/7/30		22,684,000		20,382,876	(c)
Bank of America Corp., Senior Notes (4.083% to 3/20/50 then 3 mo. Term SOFR + 3.412%)		4.083	%		3/20/51		25,140,000		18,607,376	(c)
Bank of America Corp., Senior Notes (4.330% to 3/15/49 then 3 mo. Term SOFR + 1.782%)		4.330	%		3/15/50		11,720,000		9,096,300	(c)
Bank of America Corp., Senior Notes (4.376% to 4/27/27 then SOFR + 1.580%)		4.376	%		4/27/28		5,370,000		5,072,150	(c)
Bank of America Corp., Senior Notes (4.571% to 4/27/32 then SOFR + 1.830%)		4.571	%		4/27/33		33,190,000		29,483,677	(c)
Bank of America Corp., Subordinated Notes		4.200	%		8/26/24		5,409,000		5,316,227
Bank of America Corp., Subordinated Notes		4.000	%		1/22/25		2,875,000		2,799,014
Bank of America Corp., Subordinated Notes		4.450	%		3/3/26		1,093,000		1,053,016
Bank of America Corp., Subordinated Notes		4.250	%		10/22/26		17,320,000		16,459,628
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		3,000,000		2,185,056	(c)
Bank of Montreal, Senior Notes		1.850	%		5/1/25		12,810,000		12,025,463

See Notes to Schedule of Investments.

    14     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
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	$	1,316,000	$	1,150,534	(c)
Bank of Nova Scotia, Senior Notes		3.450	%		4/11/25		19,420,000		18,702,389
Bank of Nova Scotia, Senior Notes		1.300	%		6/11/25		7,120,000		6,589,409
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		4,470,000		3,728,628	(c)
Barclays PLC, Senior Notes (4.972% to 5/16/28 then 3 mo. USD LIBOR + 1.902%)		4.972	%		5/16/29		2,909,000		2,719,147	(c)
Barclays PLC, Subordinated Notes (5.088%to 6/20/29 then 3 mo. USD LIBOR + 3.054%)		5.088	%		6/20/30		6,608,000		5,908,927	(c)
BNP Paribas SA, Senior Notes		3.375	%		1/9/25		5,533,000		5,341,660	(b)
BNP Paribas SA, Senior Notes		4.400	%		8/14/28		5,949,000		5,534,107	(b)
BNP Paribas SA, Senior Notes (2.219% to 6/9/25 then SOFR + 2.074%)		2.219	%		6/9/26		8,840,000		8,251,756	(b)(c)
BNP Paribas SA, Senior Notes (3.052% to 1/13/30 then SOFR + 1.507%)		3.052	%		1/13/31		11,830,000		9,747,108	(b)(c)
BNP Paribas SA, Senior Notes (4.705% to 1/10/24 then 3 mo. Term SOFR + 2.497%)		4.705	%		1/10/25		12,051,000		11,992,119	(b)(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		27,240,000		26,312,010	(b)(c)
BNP Paribas SA, Senior Notes (5.198% to 1/10/29 then 3 mo. Term SOFR + 2.829%)		5.198	%		1/10/30		8,704,000		8,272,170	(b)(c)
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		3,019,000		2,681,945	(b)(c)
BPCE SA, Subordinated Notes		5.150	%		7/21/24		4,541,000		4,469,903	(b)
Citigroup Inc., Senior Notes		3.300	%		4/27/25		12,054,000		11,585,981
Citigroup Inc., Senior Notes		8.125	%		7/15/39		6,491,000		7,639,122
Citigroup Inc., Senior Notes		4.650	%		7/30/45		7,037,000		5,662,831
Citigroup Inc., Senior Notes		4.650	%		7/23/48		1,675,000		1,356,906
Citigroup Inc., Senior Notes (2.561% to 5/1/31 then SOFR + 1.167%)		2.561	%		5/1/32		5,000,000		3,872,596	(c)
Citigroup Inc., Senior Notes (2.572% to 6/3/30 then SOFR + 2.107%)		2.572	%		6/3/31		46,030,000		36,722,998	(c)
Citigroup Inc., Senior Notes (3.106% to 4/8/25 then SOFR + 2.842%)		3.106	%		4/8/26		5,210,000		4,973,254	(c)
Citigroup Inc., Senior Notes (3.520% to 10/27/27 then 3 mo. Term SOFR + 1.413%)		3.520	%		10/27/28		18,054,000		16,342,249	(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         15

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
Citigroup Inc., Senior Notes (3.785% to 3/17/32 then SOFR + 1.939%)		3.785	%		3/17/33	$	15,970,000	$	13,328,578	(c)
Citigroup Inc., Senior Notes (3.980% to 3/20/29 then 3 mo. Term SOFR + 1.600%)		3.980	%		3/20/30		19,648,000		17,655,226	(c)
Citigroup Inc., Senior Notes (4.412% to 3/31/30 then SOFR + 3.914%)		4.412	%		3/31/31		8,960,000		8,062,335	(c)
Citigroup Inc., Senior Notes (4.658% to 5/24/27 then SOFR + 1.887%)		4.658	%		5/24/28		5,380,000		5,143,708	(c)
Citigroup Inc., Senior Notes (4.910% to 5/24/32 then SOFR + 2.086%)		4.910	%		5/24/33		10,860,000		9,888,420	(c)
Citigroup Inc., Subordinated Notes		4.400	%		6/10/25		4,549,000		4,415,132
Citigroup Inc., Subordinated Notes		5.500	%		9/13/25		1,982,000		1,958,832
Citigroup Inc., Subordinated Notes		4.300	%		11/20/26		1,343,000		1,273,834
Citigroup Inc., Subordinated Notes		4.450	%		9/29/27		19,672,000		18,476,690
Citigroup Inc., Subordinated Notes		6.625	%		6/15/32		412,000		416,241
Citigroup Inc., Subordinated Notes		6.125	%		8/25/36		605,000		585,973
Citigroup Inc., Subordinated Notes		6.675	%		9/13/43		564,000		561,638
Citigroup Inc., Subordinated Notes		5.300	%		5/6/44		1,423,000		1,217,548
Citigroup Inc., Subordinated Notes		4.750	%		5/18/46		716,000		561,104
Cooperatieve Rabobank UA, Senior Notes		3.375	%		5/21/25		13,201,000		12,720,977
Cooperatieve Rabobank UA, Senior Notes		4.375	%		8/4/25		7,477,000		7,217,551
Cooperatieve Rabobank UA, Senior Notes		3.750	%		7/21/26		833,000		776,129
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		3,500,000		3,221,904	(b)(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		7,190,000		6,613,153	(b)(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		7,300,000		6,092,597	(b)(c)
Credit Agricole SA, Senior Notes (1.907% to 6/16/25 then SOFR + 1.676%)		1.907	%		6/16/26		5,920,000		5,505,514	(b)(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		3,743,000		3,320,483	(b)(c)
Danske Bank A/S, Senior Notes		5.375	%		1/12/24		10,046,000		10,006,616	(b)
Danske Bank A/S, Senior Notes (0.976% to 9/10/24 then 1 year Treasury Constant Maturity Rate + 0.550%)		0.976	%		9/10/25		9,745,000		9,239,644	(b)(c)

See Notes to Schedule of Investments.

    16     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
Danske Bank A/S, Senior Notes (3.244% to 12/20/24 then 3 mo. USD LIBOR + 1.591%)		3.244	%		12/20/25	$	4,872,000	$	4,667,961	(b)(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		1,500,000		1,397,765	(b)(c)
Danske Bank A/S, Senior Notes (6.259% to 9/22/25 then 1 year Treasury Constant Maturity Rate + 1.180%)		6.259	%		9/22/26		690,000		689,995	(b)(c)
HSBC Holdings PLC, Senior Notes		4.300	%		3/8/26		997,000		957,427
HSBC Holdings PLC, Senior Notes (2.848%to 6/4/30 then SOFR + 2.387%)		2.848	%		6/4/31		11,750,000		9,403,250	(c)
HSBC Holdings PLC, Senior Notes (3.803%to 3/11/24 then 3 mo. Term SOFR + 1.473%)		3.803	%		3/11/25		13,793,000		13,624,926	(c)
HSBC Holdings PLC, Senior Notes (4.041%to 3/13/27 then 3 mo. Term SOFR + 1.808%)		4.041	%		3/13/28		11,121,000		10,298,044	(c)
HSBC Holdings PLC, Subordinated Notes		4.250	%		3/14/24		206,000		204,234
HSBC Holdings PLC, Subordinated Notes		4.250	%		8/18/25		2,457,000		2,363,840
Intesa Sanpaolo SpA, Subordinated Notes		5.017	%		6/26/24		10,460,000		10,213,477	(b)
Intesa Sanpaolo SpA, Subordinated Notes		5.710	%		1/15/26		11,693,000		11,168,493	(b)
JPMorgan Chase & Co., Senior Notes (2.083% to 4/22/25 then SOFR + 1.850%)		2.083	%		4/22/26		11,840,000		11,116,339	(c)
JPMorgan Chase & Co., Senior Notes (2.522% to 4/22/30 then SOFR + 2.040%)		2.522	%		4/22/31		14,820,000		12,019,831	(c)
JPMorgan Chase & Co., Senior Notes (2.545% to 11/8/31 then SOFR + 1.180%)		2.545	%		11/8/32		19,530,000		15,121,800	(c)
JPMorgan Chase & Co., Senior Notes (2.580% to 4/22/31 then 3 mo. Term SOFR + 1.250%)		2.580	%		4/22/32		7,000,000		5,525,081	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/40 then 3 mo. Term SOFR + 2.460%)		3.109	%		4/22/41		5,000,000		3,478,492	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/50 then SOFR + 2.440%)		3.109	%		4/22/51		6,850,000		4,256,276	(c)
JPMorgan Chase & Co., Senior Notes (4.023% to 12/5/23 then 3 mo. Term SOFR + 1.262%)		4.023	%		12/5/24		19,448,000		19,362,662	(c)
JPMorgan Chase & Co., Senior Notes (4.203% to 7/23/28 then 3 mo. Term SOFR + 1.522%)		4.203	%		7/23/29		6,157,000		5,707,857	(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         17

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
JPMorgan Chase & Co., Senior Notes (4.452% to 12/5/28 then 3 mo. Term SOFR + 1.592%)		4.452	%		12/5/29	$	17,991,000	$	16,798,942	(c)
JPMorgan Chase & Co., Senior Notes (4.493% to 3/24/30 then 3 mo. Term SOFR + 3.790%)		4.493	%		3/24/31		6,000,000		5,495,354	(c)
JPMorgan Chase & Co., Subordinated Notes		4.125	%		12/15/26		5,791,000		5,507,011
JPMorgan Chase & Co., Subordinated Notes		4.250	%		10/1/27		9,717,000		9,225,636
JPMorgan Chase & Co., Subordinated Notes		3.625	%		12/1/27		5,143,000		4,742,525
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		8,546,000		7,315,870
Lloyds Banking Group PLC, Senior Notes		4.375	%		3/22/28		4,010,000		3,739,856
Lloyds Banking Group PLC, Subordinated Notes		4.650	%		3/24/26		2,843,000		2,723,307
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		6,500,000		6,278,892	(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		6,690,000		6,286,346	(c)
NatWest Group PLC, Senior Notes (4.269%to 3/22/24 then 3 mo. USD LIBOR + 1.762%)		4.269	%		3/22/25		5,803,000		5,741,655	(c)
PNC Bank NA, Subordinated Notes		3.875	%		4/10/25		1,567,000		1,512,040
PNC Financial Services Group Inc., Senior Notes (5.582% to 6/12/28 then SOFR + 1.841%)		5.582	%		6/12/29		13,820,000		13,413,608	(c)
PNC Financial Services Group Inc., Senior Notes (5.812% to 6/12/25 then SOFR + 1.322%)		5.812	%		6/12/26		4,280,000		4,247,038	(c)
Royal Bank of Canada, Senior Notes		1.150	%		6/10/25		6,800,000		6,290,533
Royal Bank of Canada, Senior Notes		3.875	%		5/4/32		19,350,000		16,879,140
Santander UK Group Holdings PLC, Subordinated Notes		5.625	%		9/15/45		484,000		353,482	(b)
Standard Chartered PLC, Subordinated Notes		5.700	%		3/26/44		432,000		374,756	(b)
Toronto-Dominion Bank, Senior Notes		1.150	%		6/12/25		6,770,000		6,270,533
Toronto-Dominion Bank, Senior Notes		4.456	%		6/8/32		3,500,000		3,140,832

See Notes to Schedule of Investments.

    18     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Banks - (continued)
Truist Financial Corp., Senior Notes (6.047%to 6/8/26 then SOFR + 2.050%)		6.047	%		6/8/27	$	8,060,000	$	7,975,124	(c)
US Bancorp, Senior Notes		1.450	%		5/12/25		11,330,000		10,572,453
US Bancorp, Senior Notes (2.215% to 1/27/27 then SOFR + 0.730%)		2.215	%		1/27/28		1,240,000		1,094,504	(c)
US Bancorp, Senior Notes (5.775% to 6/12/28 then SOFR + 2.020%)		5.775	%		6/12/29		8,530,000		8,307,664	(c)
US Bancorp, Senior Notes (5.836% to 6/10/33 then SOFR + 2.260%)		5.836	%		6/12/34		3,450,000		3,256,547	(c)
Wells Fargo & Co., Senior Notes		3.750	%		1/24/24		11,690,000		11,606,640
Wells Fargo & Co., Senior Notes		3.000	%		10/23/26		7,684,000		7,060,354
Wells Fargo & Co., Senior Notes		4.150	%		1/24/29		8,588,000		7,889,850
Wells Fargo & Co., Senior Notes (2.188% to 4/30/25 then SOFR + 2.000%)		2.188	%		4/30/26		12,110,000		11,373,556	(c)
Wells Fargo & Co., Senior Notes (2.879% to 10/30/29 then 3 mo. Term SOFR + 1.432%)		2.879	%		10/30/30		18,000,000		14,993,011	(c)
Wells Fargo & Co., Senior Notes (3.350% to 3/2/32 then SOFR + 1.500%)		3.350	%		3/2/33		8,970,000		7,254,669	(c)
Wells Fargo & Co., Senior Notes (4.478% to 4/4/30 then 3 mo. Term SOFR + 4.032%)		4.478	%		4/4/31		12,440,000		11,289,785	(c)
Wells Fargo & Co., Senior Notes (5.013% to 4/4/50 then 3 mo. Term SOFR + 4.502%)		5.013	%		4/4/51		103,670,000		87,207,812	(c)
Wells Fargo & Co., Subordinated Notes		4.300	%		7/22/27		12,726,000		11,998,085
Wells Fargo & Co., Subordinated Notes		5.375	%		11/2/43		430,000		373,336
Wells Fargo & Co., Subordinated Notes		5.606	%		1/15/44		1,522,000		1,351,601
Wells Fargo & Co., Subordinated Notes		4.650	%		11/4/44		1,513,000		1,178,211
Wells Fargo & Co., Subordinated Notes		4.900	%		11/17/45		4,469,000		3,589,989
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		16,048,000		11,895,002
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		13,120,000		10,255,944
Total Banks									1,142,045,253
Capital Markets - 3.0%
Bank of New York Mellon Corp., Senior Notes		1.600	%		4/24/25		3,860,000		3,619,013
Charles Schwab Corp., Senior Notes		5.875	%		8/24/26		17,400,000		17,349,497
Charles Schwab Corp., Senior Notes (6.136% to 8/24/33 then SOFR + 2.010%)		6.136	%		8/24/34		3,340,000		3,250,842	(c)
CME Group Inc., Senior Notes		5.300	%		9/15/43		1,070,000		1,027,873
Credit Suisse AG, Senior Notes		4.750	%		8/9/24		2,000,000		1,972,038
Credit Suisse AG, Senior Notes		3.625	%		9/9/24		2,660,000		2,589,853
Credit Suisse AG, Senior Notes		7.950	%		1/9/25		18,480,000		18,813,767

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         19

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Capital Markets - (continued)
Credit Suisse AG, Senior Notes		2.950	%		4/9/25	$	6,410,000	$	6,093,021
Credit Suisse AG, Senior Notes		7.500	%		2/15/28		20,890,000		21,862,533
Goldman Sachs Capital II, Ltd. GTD (3 mo. Term SOFR + 1.029%)		6.439	%		10/30/23		22,000		18,087	(c)(d)
Goldman Sachs Group Inc., Senior Notes		3.625	%		2/20/24		9,269,000		9,182,560
Goldman Sachs Group Inc., Senior Notes		4.000	%		3/3/24		1,012,000		1,003,520
Goldman Sachs Group Inc., Senior Notes		3.850	%		7/8/24		1,352,000		1,330,887
Goldman Sachs Group Inc., Senior Notes		3.500	%		4/1/25		8,120,000		7,820,705
Goldman Sachs Group Inc., Senior Notes		3.500	%		11/16/26		10,965,000		10,203,118
Goldman Sachs Group Inc., Senior Notes		3.850	%		1/26/27		6,210,000		5,827,666
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		5,481,000		5,534,781
Goldman Sachs Group Inc., Senior Notes		4.750	%		10/21/45		3,616,000		3,048,028
Goldman Sachs Group Inc., Senior Notes (2.383% to 7/21/31 then SOFR + 1.248%)		2.383	%		7/21/32		5,000,000		3,810,363	(c)
Goldman Sachs Group Inc., Senior Notes (2.650% to 10/21/31 then SOFR + 1.264%)		2.650	%		10/21/32		4,920,000		3,799,780	(c)
Goldman Sachs Group Inc., Senior Notes (2.908% to 7/21/41 then SOFR + 1.472%)		2.908	%		7/21/42		2,570,000		1,662,098	(c)
Goldman Sachs Group Inc., Senior Notes (3.210% to 4/22/41 then SOFR + 1.513%)		3.210	%		4/22/42		1,120,000		760,038	(c)
Goldman Sachs Group Inc., Senior Notes (3.615% to 3/15/27 then SOFR + 1.846%)		3.615	%		3/15/28		2,370,000		2,187,610	(c)
Goldman Sachs Group Inc., Senior Notes (3.691% to 6/5/27 then 3 mo. Term SOFR + 1.772%)		3.691	%		6/5/28		8,956,000		8,258,240	(c)
Goldman Sachs Group Inc., Senior Notes (3.814% to 4/23/28 then 3 mo. Term SOFR + 1.420%)		3.814	%		4/23/29		17,026,000		15,468,394	(c)
Goldman Sachs Group Inc., Senior Notes (4.223% to 5/1/28 then 3 mo. Term SOFR + 1.563%)		4.223	%		5/1/29		31,995,000		29,608,168	(c)
Goldman Sachs Group Inc., Subordinated Notes		4.250	%		10/21/25		6,394,000		6,163,250
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37		3,045,000		3,086,205
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		18,411,000		15,800,570
Intercontinental Exchange Inc., Senior Notes		4.600	%		3/15/33		2,500,000		2,298,928

See Notes to Schedule of Investments.

    20     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Capital Markets - (continued)
Intercontinental Exchange Inc., Senior Notes		4.950	%		6/15/52	$	1,030,000	$	896,546
KKR Group Finance Co. II LLC, Senior Notes		5.500	%		2/1/43		331,000		288,668	(b)
Morgan Stanley, Senior Notes (2.188% to 4/28/25 then SOFR + 1.990%)		2.188	%		4/28/26		18,980,000		17,836,872	(c)
Morgan Stanley, Senior Notes (2.239% to 7/21/31 then SOFR + 1.178%)		2.239	%		7/21/32		11,500,000		8,673,138	(c)
Morgan Stanley, Senior Notes (2.511% to 10/20/31 then SOFR + 1.200%)		2.511	%		10/20/32		1,030,000		788,482	(c)
Morgan Stanley, Senior Notes (2.699% to 1/22/30 then SOFR + 1.143%)		2.699	%		1/22/31		19,360,000		15,838,792	(c)
Morgan Stanley, Senior Notes (3.622% to 4/1/30 then SOFR + 3.120%)		3.622	%		4/1/31		25,630,000		22,091,027	(c)
Morgan Stanley, Senior Notes (3.772% to 1/24/28 then 3 mo. Term SOFR + 1.402%)		3.772	%		1/24/29		7,449,000		6,796,095	(c)
Morgan Stanley, Senior Notes (4.431% to 1/23/29 then 3 mo. Term SOFR + 1.890%)		4.431	%		1/23/30		4,534,000		4,196,088	(c)
State Street Corp., Senior Notes		3.300	%		12/16/24		1,048,000		1,016,387
UBS AG, Senior Notes		4.500	%		6/26/48		3,599,000		2,991,102	(b)
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		27,971,000		27,631,963	(b)(c)(d)
UBS Group AG, Senior Notes		4.125	%		9/24/25		2,731,000		2,618,918	(b)
UBS Group AG, Senior Notes		4.550	%		4/17/26		457,000		439,019
UBS Group AG, Senior Notes		4.253	%		3/23/28		11,773,000		10,829,315	(b)
UBS Group AG, Senior Notes		4.875	%		5/15/45		5,000,000		4,108,715
UBS Group AG, Senior Notes (1.305% to 2/2/26 then SOFR + 0.980%)		1.305	%		2/2/27		15,930,000		14,166,676	(b)(c)
UBS Group AG, Senior Notes (2.593% to 9/11/24 then SOFR + 1.560%)		2.593	%		9/11/25		1,997,000		1,922,777	(b)(c)
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		4,200,000		3,177,672	(b)(c)
UBS Group AG, Senior Notes (3.091% to 5/14/31 then SOFR + 1.730%)		3.091	%		5/14/32		14,200,000		11,224,437	(b)(c)
UBS Group AG, Senior Notes (4.194% to 4/1/30 then SOFR + 3.730%)		4.194	%		4/1/31		18,006,000		15,731,869	(b)(c)
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		4,690,000		4,544,067	(b)(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         21

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Capital Markets - (continued)
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	$	6,030,000	$	5,699,968	(b)(c)
UBS Group AG, Senior Notes (9.016% to 11/15/32 then SOFR + 5.020%)		9.016	%		11/15/33		28,855,000		33,344,685	(b)(c)
Total Capital Markets									430,304,711
Consumer Finance - 0.2%
American Express Co., Senior Notes		3.375	%		5/3/24		7,640,000		7,523,409
American Express Co., Senior Notes		2.500	%		7/30/24		20,670,000		20,108,109
American Express Co., Senior Notes		4.050	%		5/3/29		7,290,000		6,788,699
Total Consumer Finance									34,420,217
Financial Services - 0.7%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		2.450	%		10/29/26		19,250,000		17,251,684
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.000	%		10/29/28		17,540,000		15,047,724
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.300	%		1/30/32		9,740,000		7,746,464
Berkshire Hathaway Energy Co., Senior Notes		5.950	%		5/15/37		269,000		264,111
Berkshire Hathaway Finance Corp., Senior Notes		4.250	%		1/15/49		7,344,000		6,026,798
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%)		7.459	%		12/21/65		3,743,000		2,832,416	(b)(c)
Mastercard Inc., Senior Notes		3.375	%		4/1/24		832,000		821,570
Mastercard Inc., Senior Notes		3.350	%		3/26/30		5,000,000		4,473,089
Mastercard Inc., Senior Notes		3.850	%		3/26/50		15,550,000		11,990,449
National Securities Clearing Corp., Senior Notes		1.500	%		4/23/25		3,810,000		3,576,782	(b)
PayPal Holdings Inc., Senior Notes		1.650	%		6/1/25		5,950,000		5,570,135
PayPal Holdings Inc., Senior Notes		2.300	%		6/1/30		3,250,000		2,658,611
PayPal Holdings Inc., Senior Notes		4.400	%		6/1/32		3,210,000		2,968,857
USAA Capital Corp., Senior Notes		2.125	%		5/1/30		650,000		523,428	(b)
Vanguard Group Inc.		3.050	%		8/22/50		10,240,000		5,736,634
Visa Inc., Senior Notes		3.150	%		12/14/25		2,917,000		2,785,167
Visa Inc., Senior Notes		4.300	%		12/14/45		6,643,000		5,629,390
Total Financial Services									95,903,309

See Notes to Schedule of Investments.

    22     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Insurance - 0.2%
American International Group Inc., Senior Notes		2.500	%		6/30/25	$	2,554,000	$	2,410,523
Brighthouse Financial Inc., Senior Notes		4.700	%		6/22/47		131,000		91,212
Chubb INA Holdings Inc., Senior Notes		3.350	%		5/3/26		1,164,000		1,104,877
Guardian Life Global Funding, Secured Notes		1.100	%		6/23/25		2,750,000		2,527,056	(b)
MetLife Inc., Junior Subordinated Notes		6.400	%		12/15/36		6,365,000		6,227,417
New York Life Global Funding, Senior Secured Notes		0.950	%		6/24/25		5,130,000		4,723,908	(b)
Principal Life Global Funding II, Secured Notes		1.250	%		6/23/25		2,530,000		2,335,096	(b)
Teachers Insurance & Annuity Association of America, Subordinated Notes		6.850	%		12/16/39		93,000		98,019	(b)
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		3,500,000		2,951,919	(b)
Total Insurance									22,470,027
TOTAL FINANCIALS									1,725,143,517
HEALTH CARE - 2.7%
Biotechnology - 0.6%
AbbVie Inc., Senior Notes		3.750	%		11/14/23		1,490,000		1,486,387
AbbVie Inc., Senior Notes		2.600	%		11/21/24		26,060,000		25,132,474
AbbVie Inc., Senior Notes		3.800	%		3/15/25		4,066,000		3,953,533
AbbVie Inc., Senior Notes		3.600	%		5/14/25		2,194,000		2,121,428
AbbVie Inc., Senior Notes		2.950	%		11/21/26		4,640,000		4,307,827
AbbVie Inc., Senior Notes		3.200	%		11/21/29		36,490,000		32,219,337
AbbVie Inc., Senior Notes		4.550	%		3/15/35		233,000		212,027
AbbVie Inc., Senior Notes		4.875	%		11/14/48		1,160,000		1,015,089
AbbVie Inc., Senior Notes		4.250	%		11/21/49		14,509,000		11,497,135
Gilead Sciences Inc., Senior Notes		3.700	%		4/1/24		1,460,000		1,444,328
Gilead Sciences Inc., Senior Notes		3.650	%		3/1/26		1,711,000		1,638,559
Gilead Sciences Inc., Senior Notes		4.500	%		2/1/45		716,000		597,214
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		3,967,000		3,401,213
Total Biotechnology									89,026,551
Health Care Equipment & Supplies - 0.1%
Abbott Laboratories, Senior Notes		4.750	%		11/30/36		1,836,000		1,746,056
Abbott Laboratories, Senior Notes		4.900	%		11/30/46		3,681,000		3,355,532
Becton Dickinson & Co., Senior Notes		3.363	%		6/6/24		2,910,000		2,859,218
Becton Dickinson & Co., Senior Notes		3.734	%		12/15/24		336,000		327,850
Becton Dickinson & Co., Senior Notes		4.685	%		12/15/44		1,234,000		1,038,394

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         23

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Health Care Equipment & Supplies - (continued)
Medtronic Inc., Senior Notes		4.625	%		3/15/45	$	410,000	$	360,107
Roche Holdings Inc., Senior Notes		2.607	%		12/13/51		10,640,000		6,371,856	(b)
Total Health Care Equipment & Supplies									16,059,013
Health Care Providers & Services - 1.5%
Aetna Inc., Senior Notes		3.875	%		8/15/47		2,006,000		1,407,316
Cigna Group, Senior Notes		4.125	%		11/15/25		2,499,000		2,420,317
Cigna Group, Senior Notes		4.375	%		10/15/28		25,372,000		24,014,423
Cigna Group, Senior Notes		4.800	%		8/15/38		10,930,000		9,636,374
Cigna Group, Senior Notes		4.900	%		12/15/48		4,290,000		3,619,198
CommonSpirit Health, Secured Notes		4.350	%		11/1/42		358,000		287,866
CVS Health Corp., Senior Notes		3.875	%		7/20/25		4,600,000		4,446,338
CVS Health Corp., Senior Notes		3.625	%		4/1/27		2,780,000		2,598,652
CVS Health Corp., Senior Notes		4.300	%		3/25/28		9,572,000		9,061,925
CVS Health Corp., Senior Notes		3.750	%		4/1/30		11,300,000		9,992,817
CVS Health Corp., Senior Notes		1.875	%		2/28/31		1,910,000		1,457,726
CVS Health Corp., Senior Notes		2.125	%		9/15/31		6,670,000		5,104,444
CVS Health Corp., Senior Notes		4.780	%		3/25/38		17,470,000		15,052,973
CVS Health Corp., Senior Notes		4.125	%		4/1/40		2,200,000		1,711,443
CVS Health Corp., Senior Notes		5.125	%		7/20/45		5,194,000		4,375,062
CVS Health Corp., Senior Notes		5.050	%		3/25/48		17,778,000		14,784,187
CVS Health Corp., Senior Notes		4.250	%		4/1/50		4,150,000		3,074,600
CVS Pass-Through Trust, Secured Trust		6.943	%		1/10/30		284,412		284,824
CVS Pass-Through Trust, Senior Secured Trust		6.036	%		12/10/28		3,064,837		3,033,316
Elevance Health Inc., Senior Notes		3.350	%		12/1/24		1,791,000		1,738,922
Elevance Health Inc., Senior Notes		3.650	%		12/1/27		7,067,000		6,554,409
Elevance Health Inc., Senior Notes		4.100	%		5/15/32		5,510,000		4,911,018
Elevance Health Inc., Senior Notes		4.550	%		5/15/52		2,270,000		1,839,515
Humana Inc., Senior Notes		4.500	%		4/1/25		1,180,000		1,159,050
Humana Inc., Senior Notes		3.950	%		3/15/27		3,726,000		3,536,578
Humana Inc., Senior Notes		3.700	%		3/23/29		15,270,000		13,936,488
Humana Inc., Senior Notes		3.125	%		8/15/29		12,000,000		10,503,696
Humana Inc., Senior Notes		2.150	%		2/3/32		2,330,000		1,761,926
Humana Inc., Senior Notes		4.625	%		12/1/42		779,000		637,593
Humana Inc., Senior Notes		4.800	%		3/15/47		242,000		201,823
UnitedHealth Group Inc., Senior Notes		1.250	%		1/15/26		2,390,000		2,178,415
UnitedHealth Group Inc., Senior Notes		3.875	%		12/15/28		830,000		779,970
UnitedHealth Group Inc., Senior Notes		4.000	%		5/15/29		10,630,000		9,953,612
UnitedHealth Group Inc., Senior Notes		2.000	%		5/15/30		5,320,000		4,310,422

See Notes to Schedule of Investments.

    24     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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		2.300	%		5/15/31	$	1,380,000	$	1,115,718
UnitedHealth Group Inc., Senior Notes		4.200	%		5/15/32		4,810,000		4,391,738
UnitedHealth Group Inc., Senior Notes		5.350	%		2/15/33		3,000,000		2,969,267
UnitedHealth Group Inc., Senior Notes		5.800	%		3/15/36		582,000		590,583
UnitedHealth Group Inc., Senior Notes		2.750	%		5/15/40		5,230,000		3,557,686
UnitedHealth Group Inc., Senior Notes		5.700	%		10/15/40		1,576,000		1,550,892
UnitedHealth Group Inc., Senior Notes		4.250	%		6/15/48		1,640,000		1,311,546
UnitedHealth Group Inc., Senior Notes		4.450	%		12/15/48		2,460,000		2,034,562
UnitedHealth Group Inc., Senior Notes		3.700	%		8/15/49		4,227,000		3,048,916
UnitedHealth Group Inc., Senior Notes		2.900	%		5/15/50		6,550,000		4,028,593
UnitedHealth Group Inc., Senior Notes		3.250	%		5/15/51		1,437,000		945,824
UnitedHealth Group Inc., Senior Notes		3.875	%		8/15/59		6,499,000		4,634,002
UnitedHealth Group Inc., Senior Notes		3.125	%		5/15/60		770,000		467,320
Total Health Care Providers & Services									211,013,885
Pharmaceuticals - 0.5%
Bristol-Myers Squibb Co., Senior Notes		2.900	%		7/26/24		10,189,000		9,961,689
Bristol-Myers Squibb Co., Senior Notes		3.200	%		6/15/26		4,790,000		4,545,539
Bristol-Myers Squibb Co., Senior Notes		3.400	%		7/26/29		5,309,000		4,812,712
Bristol-Myers Squibb Co., Senior Notes		4.550	%		2/20/48		2,329,000		1,945,768
Johnson & Johnson, Senior Notes		2.100	%		9/1/40		11,300,000		7,240,256
Johnson & Johnson, Senior Notes		3.700	%		3/1/46		2,946,000		2,297,258
Merck & Co. Inc., Senior Notes		1.450	%		6/24/30		4,380,000		3,434,089
Merck & Co. Inc., Senior Notes		2.750	%		12/10/51		10,630,000		6,428,724
Pfizer Inc., Senior Notes		2.625	%		4/1/30		6,980,000		5,964,676
Pfizer Inc., Senior Notes		1.700	%		5/28/30		6,200,000		4,974,342
Pfizer Inc., Senior Notes		2.550	%		5/28/40		5,380,000		3,622,338
Pfizer Inc., Senior Notes		2.700	%		5/28/50		13,495,000		8,460,360
Pfizer Investment Enterprises Pte Ltd., Senior Notes		4.750	%		5/19/33		1,980,000		1,872,444
Wyeth LLC, Senior Notes		5.950	%		4/1/37		1,245,000		1,280,400
Total Pharmaceuticals									66,840,595
TOTAL HEALTH CARE									382,940,044
INDUSTRIALS - 2.6%
Aerospace & Defense - 1.5%
Boeing Co., Senior Notes		1.433	%		2/4/24		9,470,000		9,320,349
Boeing Co., Senior Notes		4.875	%		5/1/25		24,660,000		24,240,275
Boeing Co., Senior Notes		3.100	%		5/1/26		1,379,000		1,288,286
Boeing Co., Senior Notes		2.700	%		2/1/27		2,588,000		2,344,826
Boeing Co., Senior Notes		2.800	%		3/1/27		1,791,000		1,622,211

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         25

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Aerospace & Defense - (continued)
Boeing Co., Senior Notes		3.200	%		3/1/29	$	5,382,000	$	4,730,066
Boeing Co., Senior Notes		5.150	%		5/1/30		16,070,000		15,359,866
Boeing Co., Senior Notes		3.250	%		2/1/35		19,527,000		15,028,375
Boeing Co., Senior Notes		5.875	%		2/15/40		448,000		424,052
Boeing Co., Senior Notes		5.705	%		5/1/40		11,790,000		10,885,985
Boeing Co., Senior Notes		3.750	%		2/1/50		4,633,000		3,152,704
Boeing Co., Senior Notes		5.805	%		5/1/50		22,830,000		20,692,431
Boeing Co., Senior Notes		5.930	%		5/1/60		7,490,000		6,734,603
General Dynamics Corp., Senior Notes		4.250	%		4/1/40		680,000		578,284
General Dynamics Corp., Senior Notes		4.250	%		4/1/50		2,670,000		2,197,189
L3Harris Technologies Inc., Senior Notes		4.854	%		4/27/35		1,730,000	��	1,576,855
L3Harris Technologies Inc., Senior Notes		5.054	%		4/27/45		271,000		236,355
Lockheed Martin Corp., Senior Notes		3.900	%		6/15/32		3,850,000		3,455,018
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		550,000		502,007
Lockheed Martin Corp., Senior Notes		4.150	%		6/15/53		18,680,000		14,761,632
Northrop Grumman Corp., Senior Notes		2.930	%		1/15/25		11,159,000		10,764,696
Northrop Grumman Corp., Senior Notes		3.250	%		1/15/28		2,964,000		2,720,081
Northrop Grumman Corp., Senior Notes		5.250	%		5/1/50		37,500,000		34,645,545
RTX Corp., Senior Notes		3.150	%		12/15/24		2,960,000		2,866,422
RTX Corp., Senior Notes		3.950	%		8/16/25		5,920,000		5,731,050
RTX Corp., Senior Notes		4.125	%		11/16/28		3,300,000		3,079,309
RTX Corp., Senior Notes		2.250	%		7/1/30		6,940,000		5,589,360
RTX Corp., Senior Notes		4.500	%		6/1/42		833,000		682,407
RTX Corp., Senior Notes		4.150	%		5/15/45		5,000,000		3,792,516
RTX Corp., Senior Notes		3.125	%		7/1/50		12,950,000		8,067,174
Total Aerospace & Defense									217,069,929
Air Freight & Logistics - 0.3%
DP World Ltd., Senior Notes		5.625	%		9/25/48		29,339,000		26,091,173	(b)
DP World Ltd., Senior Notes		4.700	%		9/30/49		13,370,000		10,547,927	(e)
Total Air Freight & Logistics									36,639,100
Building Products - 0.0%††
Carrier Global Corp., Senior Notes		2.700	%		2/15/31		410,000		332,654
Carrier Global Corp., Senior Notes		3.577	%		4/5/50		650,000		439,286
Total Building Products									771,940
Commercial Services & Supplies - 0.1%
Cintas Corp. No 2, Senior Notes		3.700	%		4/1/27		3,188,000		3,024,648
Cintas Corp. No 2, Senior Notes		4.000	%		5/1/32		3,440,000		3,104,776
Republic Services Inc., Senior Notes		2.500	%		8/15/24		3,645,000		3,541,517
Total Commercial Services & Supplies									9,670,941

See Notes to Schedule of Investments.

    26     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Electrical Equipment - 0.1%
Eaton Corp., Senior Notes		4.150	%		11/2/42	$	2,524,000	$	2,056,850
Emerson Electric Co., Senior Notes		2.800	%		12/21/51		23,020,000		13,987,246
Total Electrical Equipment									16,044,096
Ground Transportation - 0.1%
Burlington Northern Santa Fe LLC, Senior Notes		2.875	%		6/15/52		1,160,000		715,282
Union Pacific Corp., Senior Notes		3.750	%		7/15/25		2,257,000		2,187,292
Union Pacific Corp., Senior Notes		2.150	%		2/5/27		4,460,000		4,029,782
Union Pacific Corp., Senior Notes		2.400	%		2/5/30		6,530,000		5,469,123
Union Pacific Corp., Senior Notes		2.891	%		4/6/36		170,000		128,915
Union Pacific Corp., Senior Notes		3.839	%		3/20/60		2,990,000		2,101,955
Union Pacific Corp., Senior Notes		3.750	%		2/5/70		6,680,000		4,481,698
Total Ground Transportation									19,114,047
Industrial Conglomerates - 0.1%
3M Co., Senior Notes		2.375	%		8/26/29		16,538,000		13,841,678
3M Co., Senior Notes		3.050	%		4/15/30		771,000		667,123
3M Co., Senior Notes		3.700	%		4/15/50		3,520,000		2,514,797
Total Industrial Conglomerates									17,023,598
Machinery - 0.1%
Deere & Co., Senior Notes		3.100	%		4/15/30		1,840,000		1,619,329
Deere & Co., Senior Notes		3.750	%		4/15/50		12,660,000		10,020,598
Otis Worldwide Corp., Senior Notes		2.056	%		4/5/25		2,960,000		2,795,591
Total Machinery									14,435,518
Passenger Airlines - 0.2%
Delta Air Lines Inc., Senior Notes		2.900	%		10/28/24		1,440,000		1,385,307
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.500	%		10/20/25		8,836,000		8,585,805	(b)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.750	%		10/20/28		11,290,000		10,733,540	(b)
Total Passenger Airlines									20,704,652
Trading Companies & Distributors - 0.1%
Air Lease Corp., Senior Notes		3.375	%		7/1/25		4,630,000		4,400,772
Air Lease Corp., Senior Notes		5.300	%		2/1/28		7,240,000		6,999,566
Total Trading Companies & Distributors									11,400,338
TOTAL INDUSTRIALS									362,874,159
INFORMATION TECHNOLOGY - 1.9%
IT Services - 0.1%
International Business Machines Corp.,
Senior Notes		3.000	%		5/15/24		16,559,000		16,280,879

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         27

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Semiconductors & Semiconductor Equipment - 1.0%
Applied Materials Inc., Senior Notes		1.750	%		6/1/30	$	8,600,000	$	6,884,621
Broadcom Inc., Senior Notes		4.150	%		11/15/30		2,012,000		1,782,931
Broadcom Inc., Senior Notes		3.137	%		11/15/35		28,260,000		20,613,593	(b)
Broadcom Inc., Senior Notes		3.187	%		11/15/36		257,000		184,626	(b)
Broadcom Inc., Senior Notes		4.926	%		5/15/37		2,725,000		2,350,139	(b)
Intel Corp., Senior Notes		3.700	%		7/29/25		851,000		824,087
Intel Corp., Senior Notes		1.600	%		8/12/28		5,520,000		4,670,501
Intel Corp., Senior Notes		5.125	%		2/10/30		5,220,000		5,124,962
Intel Corp., Senior Notes		5.200	%		2/10/33		5,350,000		5,182,787
Intel Corp., Senior Notes		4.750	%		3/25/50		6,335,000		5,243,591
Intel Corp., Senior Notes		3.050	%		8/12/51		2,710,000		1,649,910
KLA Corp., Senior Notes		4.650	%		7/15/32		5,520,000		5,233,932
Micron Technology Inc., Senior Notes		5.875	%		2/9/33		3,120,000		2,982,885
NVIDIA Corp., Senior Notes		2.850	%		4/1/30		760,000		663,473
NVIDIA Corp., Senior Notes		3.500	%		4/1/40		8,680,000		6,839,427
NVIDIA Corp., Senior Notes		3.500	%		4/1/50		13,177,000		9,612,590
NVIDIA Corp., Senior Notes		3.700	%		4/1/60		6,630,000		4,862,762
NXP BV/NXP Funding LLC/NXP USA Inc., Senior Notes		2.700	%		5/1/25		4,090,000		3,885,922
Texas Instruments Inc., Senior Notes		2.250	%		9/4/29		9,000		7,674
Texas Instruments Inc., Senior Notes		1.750	%		5/4/30		4,150,000		3,361,308
Texas Instruments Inc., Senior Notes		3.875	%		3/15/39		5,340,000		4,416,370
Texas Instruments Inc., Senior Notes		4.150	%		5/15/48		6,484,000		5,233,935
TSMC Arizona Corp., Senior Notes		1.750	%		10/25/26		7,100,000		6,372,096
TSMC Arizona Corp., Senior Notes		2.500	%		10/25/31		41,490,000		33,431,241	(a)
Total Semiconductors & Semiconductor Equipment									141,415,363
Software - 0.7%
Adobe Inc., Senior Notes		2.300	%		2/1/30		8,650,000		7,285,188
Microsoft Corp., Senior Notes		2.875	%		2/6/24		6,985,000		6,919,553
Microsoft Corp., Senior Notes		2.700	%		2/12/25		1,943,000		1,876,639
Microsoft Corp., Senior Notes		3.125	%		11/3/25		8,660,000		8,299,414
Microsoft Corp., Senior Notes		3.300	%		2/6/27		11,380,000		10,803,014
Microsoft Corp., Senior Notes		3.450	%		8/8/36		111,000		93,686
Microsoft Corp., Senior Notes		2.525	%		6/1/50		5,016,000		3,057,386
Microsoft Corp., Senior Notes		2.921	%		3/17/52		3,031,000		1,990,101
Microsoft Corp., Senior Notes		3.041	%		3/17/62		888,000		562,873
Oracle Corp., Senior Notes		1.650	%		3/25/26		16,160,000		14,641,755
Oracle Corp., Senior Notes		2.950	%		4/1/30		1,370,000		1,153,391
Oracle Corp., Senior Notes		4.650	%		5/6/30		7,230,000		6,765,114

See Notes to Schedule of Investments.

    28     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Software - (continued)
Oracle Corp., Senior Notes		2.875	%		3/25/31	$	25,910,000	$	21,175,472
Salesforce Inc., Senior Notes		3.700	%		4/11/28		9,212,000		8,696,294
Total Software									93,319,880
Technology Hardware, Storage & Peripherals - 0.1%
Apple Inc., Senior Notes		2.450	%		8/4/26		9,994,000		9,287,694
Apple Inc., Senior Notes		3.850	%		8/4/46		4,111,000		3,257,093
Total Technology Hardware, Storage & Peripherals									12,544,787
TOTAL INFORMATION TECHNOLOGY									263,560,909
MATERIALS - 2.1%
Chemicals - 0.5%
MEGlobal BV, Senior Notes		4.250	%		11/3/26		17,321,000		16,478,333	(b)
MEGlobal BV, Senior Notes		2.625	%		4/28/28		28,240,000		24,459,031	(b)
OCP SA, Senior Notes		4.500	%		10/22/25		4,836,000		4,665,662	(b)
Orbia Advance Corp. SAB de CV, Senior Notes		1.875	%		5/11/26		14,240,000		12,709,327	(b)
Orbia Advance Corp. SAB de CV, Senior Notes		2.875	%		5/11/31		13,500,000		10,516,758	(b)
Total Chemicals									68,829,111
Metals & Mining - 1.3%
Anglo American Capital PLC, Senior Notes		3.625	%		9/11/24		9,018,000		8,801,179	(b)
Anglo American Capital PLC, Senior Notes		4.750	%		4/10/27		5,355,000		5,135,329	(b)
Anglo American Capital PLC, Senior Notes		4.000	%		9/11/27		2,212,000		2,067,070	(b)
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		752,000		721,557
Barrick PD Australia Finance Pty Ltd., Senior Notes		5.950	%		10/15/39		8,508,000		8,383,997
BHP Billiton Finance USA Ltd., Senior Notes		5.000	%		9/30/43		7,863,000		7,105,215
Corp. Nacional del Cobre de Chile, Senior Notes		3.625	%		8/1/27		14,665,000		13,513,203	(b)
Corp. Nacional del Cobre de Chile, Senior Notes		3.700	%		1/30/50		34,500,000		22,484,686	(b)
Freeport-McMoRan Inc., Senior Notes		5.400	%		11/14/34		2,894,000		2,652,723
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		3,000,000		2,561,701
Glencore Funding LLC, Senior Notes		4.125	%		3/12/24		12,140,000		12,037,631	(b)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		6,017,000		5,651,775	(b)
Glencore Funding LLC, Senior Notes		3.875	%		10/27/27		2,155,000		2,006,991	(b)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		37,038,000		32,053,370
Southern Copper Corp., Senior Notes		5.875	%		4/23/45		5,846,000		5,446,031
Vale Overseas Ltd., Senior Notes		6.250	%		8/10/26		36,297,000		36,936,372

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         29

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Metals & Mining - (continued)
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36	$	6,708,000	$	6,755,365
Vale Overseas Ltd., Senior Notes		6.875	%		11/10/39		5,508,000		5,518,361
Total Metals & Mining									179,832,556
Paper & Forest Products - 0.3%
Suzano Austria GmbH, Senior Notes		6.000	%		1/15/29		49,955,000		48,649,831
TOTAL MATERIALS									297,311,498
REAL ESTATE - 0.0%††
Retail REITs - 0.0%††
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		3.750	%		9/17/24		3,923,000		3,774,747	(b)
WEA Finance LLC/Westfield UK & Europe Finance PLC, Senior Notes		4.750	%		9/17/44		1,433,000		918,960	(b)
TOTAL REAL ESTATE									4,693,707
UTILITIES - 0.8%
Electric Utilities - 0.8%
American Transmission Systems Inc., Senior Notes		2.650	%		1/15/32		7,500,000		5,935,815	(b)
Cleveland Electric Illuminating Co., Senior Notes		3.500	%		4/1/28		1,415,000		1,283,456	(b)
Comision Federal de Electricidad, Senior Notes		3.348	%		2/9/31		10,000,000		7,838,531	(b)
Comision Federal de Electricidad, Senior Notes		3.875	%		7/26/33		20,305,000		15,411,351	(b)
Duke Energy Corp., Senior Notes		3.150	%		8/15/27		3,979,000		3,628,621
Exelon Corp., Senior Notes		5.625	%		6/15/35		1,984,000		1,911,933
FirstEnergy Corp., Senior Notes		1.600	%		1/15/26		2,770,000		2,493,662
FirstEnergy Corp., Senior Notes		4.150	%		7/15/27		15,102,000		14,049,778
FirstEnergy Corp., Senior Notes		5.100	%		7/15/47		1,970,000		1,674,210
MidAmerican Energy Co., First Mortgage Bonds		3.650	%		4/15/29		7,557,000		6,911,762
Mid-Atlantic Interstate Transmission LLC, Senior Notes		4.100	%		5/15/28		1,594,000		1,484,985	(b)
Pacific Gas and Electric Co., First Mortgage Bonds		2.100	%		8/1/27		3,160,000		2,703,943
Pacific Gas and Electric Co., First Mortgage Bonds		2.500	%		2/1/31		4,100,000		3,122,153
Pacific Gas and Electric Co., First Mortgage Bonds		3.300	%		8/1/40		830,000		532,445
Pacific Gas and Electric Co., First Mortgage Bonds		3.500	%		8/1/50		4,180,000		2,493,330

See Notes to Schedule of Investments.

    30     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE		MATURITY DATE		FACE AMOUNT		VALUE
Electric Utilities - (continued)
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Notes	4.125	%	5/15/27	$	4,743,000	$	4,464,349	(b)
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Notes	5.450	%	5/21/28		6,672,000		6,517,975	(b)
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Notes	5.250	%	10/24/42		18,734,000		15,274,205	(e)
Perusahaan Perseroan Persero PT Perusahaan Listrik Negara, Senior Notes	6.150	%	5/21/48		15,426,000		13,681,359	(b)
SCE Recovery Funding LLC, Senior Secured Notes	2.943	%	11/15/42		6,330,000		4,776,722
Southern California Edison Co., First Mortgage Bonds	4.125	%	3/1/48		2,000,000		1,484,375
Total Electric Utilities							117,674,960
Multi-Utilities - 0.0%††
Consolidated Edison Co. of New York Inc., Senior Notes	3.350	%	4/1/30		2,680,000		2,355,244
Consolidated Edison Co. of New York Inc., Senior Notes	3.950	%	4/1/50		1,880,000		1,391,904
Total Multi-Utilities							3,747,148
TOTAL UTILITIES							121,422,108
TOTAL CORPORATE BONDS & NOTES (Cost - $6,014,277,755)							5,079,934,164
MORTGAGE-BACKED SECURITIES - 35.5%
FHLMC - 9.7%
Federal Home Loan Mortgage Corp. (FHLMC)	4.600	%	2/1/30		5,200,000		4,943,244
Federal Home Loan Mortgage Corp. (FHLMC)	4.000	%	9/1/32-2/1/53		153,258,826		138,372,529
Federal Home Loan Mortgage Corp. (FHLMC)	6.000	%	10/1/36-3/1/53		15,836,592		15,678,086
Federal Home Loan Mortgage Corp. (FHLMC)	3.500	%	1/1/38-6/1/52		97,661,091		84,887,382
Federal Home Loan Mortgage Corp. (FHLMC)	5.000	%	3/1/38-6/1/53		65,587,429		62,050,529
Federal Home Loan Mortgage Corp. (FHLMC)	2.000	%	10/1/40-2/1/52		434,084,963		339,174,626
Federal Home Loan Mortgage Corp. (FHLMC)	1.500	%	11/1/40-2/1/51		106,341,384		81,764,415
Federal Home Loan Mortgage Corp. (FHLMC)	2.500	%	4/1/41-4/1/52		298,075,447		239,569,565

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         31

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
FHLMC - (continued)
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		5/1/42- 4/1/52	$	126,816,646	$	106,386,014
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		3/1/47-12/1/52		58,891,251		54,359,566
Federal Home Loan Mortgage Corp. (FHLMC)		5.500	%		12/1/52-7/1/53		70,308,879		68,114,860
Federal Home Loan Mortgage Corp. (FHLMC)		6.500	%		1/1/53- 5/1/53		39,604,039		39,975,349
Federal Home Loan Mortgage Corp. (FHLMC)		5.000	%		5/1/53		28,790,081		27,197,203	(f)
Federal Home Loan Mortgage Corp. (FHLMC) (1 year Refinitiv USD IBOR Consumer Cash Fallbacks + 1.619%)		2.871	%		11/1/47		9,799,420		9,278,517	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (1 year Refinitiv USD IBOR Consumer Cash Fallbacks + 1.621%)		3.097	%		2/1/50		12,974,188		12,235,215	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (1 year Refinitiv USD IBOR Consumer Cash Fallbacks + 1.628%)		3.005	%		11/1/48		27,537,302		25,552,119	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (5 year Treasury Constant Maturity Rate + 1.285%)		2.105	%		3/1/47		2,492,873		2,348,658	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Gold		7.000	%		4/1/24- 3/1/39		226,561		237,632
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.000	%		12/1/24-3/1/44		2,123,658		2,062,033
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.500	%		2/1/29- 6/1/47		8,552,671		8,078,555
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.500	%		6/1/32- 9/1/39		150,166		154,191
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.500	%		8/1/33- 2/1/49		5,234,187		4,682,082
Federal Home Loan Mortgage Corp. (FHLMC) Gold		5.500	%		4/1/35- 4/1/38		1,230,251		1,198,357
Federal Home Loan Mortgage Corp. (FHLMC) Gold		6.000	%		11/1/39		89,780		91,460
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.000	%		11/1/41-6/1/48		23,675,410		21,596,338
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.000	%		10/1/46-9/1/48		23,392,615		19,854,292
Total FHLMC									1,369,842,817

See Notes to Schedule of Investments.

    32     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
FNMA - 16.9%
Federal National Mortgage Association (FNMA)		2.810	%		4/1/25	$	655,847	$	628,999
Federal National Mortgage Association (FNMA)		7.500	%		8/1/25-4/1/28		8,583		8,558
Federal National Mortgage Association (FNMA)		6.000	%		1/1/26-7/1/53		46,391,296		46,017,630
Federal National Mortgage Association (FNMA)		7.000	%		4/1/27-2/1/39		669,551		684,239
Federal National Mortgage Association (FNMA)		4.490	%		6/1/28		3,943,000		3,827,179
Federal National Mortgage Association (FNMA)		2.930	%		7/1/28-6/1/30		10,371,118		9,252,365
Federal National Mortgage Association (FNMA)		4.830	%		9/1/28		12,422,000		12,239,344
Federal National Mortgage Association (FNMA)		4.860	%		9/1/28		10,327,000		10,188,391
Federal National Mortgage Association (FNMA)		4.880	%		9/1/28		3,200,000		3,160,048
Federal National Mortgage Association (FNMA)		5.340	%		9/1/28		805,000		811,345
Federal National Mortgage Association (FNMA)		5.000	%		10/1/28		1,200,000		1,203,238	(g)(h)(i)
Federal National Mortgage Association (FNMA)		5.130	%		10/1/28		6,400,000		6,373,250	(g)(i)
Federal National Mortgage Association (FNMA)		3.200	%		2/1/29		2,055,810		1,876,855
Federal National Mortgage Association (FNMA)		3.450	%		3/1/29		4,669,258		4,304,113
Federal National Mortgage Association (FNMA)		3.160	%		5/1/29		2,222,320		2,003,354
Federal National Mortgage Association (FNMA)		3.250	%		5/1/29		4,984,365		4,538,019
Federal National Mortgage Association (FNMA)		4.740	%		6/1/30		3,400,000		3,262,890
Federal National Mortgage Association (FNMA)		4.500	%		4/1/31-1/1/59		139,176,601		129,576,389
Federal National Mortgage Association (FNMA)		2.149	%		2/1/32		21,299,901		16,996,404	(c)
Federal National Mortgage Association (FNMA)		6.500	%		2/1/32-2/1/53		23,237,878		23,520,492

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         33

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		3.345	%		6/1/32	$	100,000	$	87,029
Federal National Mortgage Association (FNMA)		3.890	%		7/1/32		12,600,000		11,246,109
Federal National Mortgage Association (FNMA)		4.060	%		7/1/32		3,400,000		3,073,178
Federal National Mortgage Association (FNMA)		3.850	%		8/1/32		2,500,000		2,221,114
Federal National Mortgage Association (FNMA)		3.900	%		8/1/32		1,600,000		1,427,175
Federal National Mortgage Association (FNMA)		4.270	%		10/1/32		394,758		369,315
Federal National Mortgage Association (FNMA)		5.290	%		12/1/32		417,000		417,996
Federal National Mortgage Association (FNMA)		4.580	%		1/1/33		1,275,000		1,213,281
Federal National Mortgage Association (FNMA)		4.690	%		1/1/33		1,843,497		1,771,270
Federal National Mortgage Association (FNMA)		4.720	%		1/1/33		100,000		96,167
Federal National Mortgage Association (FNMA)		4.840	%		1/1/33		400,000		388,457
Federal National Mortgage Association (FNMA)		5.080	%		1/1/33		400,000		395,213
Federal National Mortgage Association (FNMA)		4.360	%		2/1/33		2,440,000		2,280,153
Federal National Mortgage Association (FNMA)		4.420	%		3/1/33-4/1/33		2,115,406		1,983,099
Federal National Mortgage Association (FNMA)		4.870	%		3/1/33		1,380,000		1,341,879
Federal National Mortgage Association (FNMA)		3.500	%		12/1/34-6/1/52		240,568,142		210,423,976
Federal National Mortgage Association (FNMA)		2.789	%		1/1/35		3,352,617		2,723,063	(c)
Federal National Mortgage Association (FNMA)		3.000	%		7/1/35-4/1/52		413,247,929		349,722,289
Federal National Mortgage Association (FNMA)		5.500	%		9/1/35-9/1/56		95,690,026		92,717,742
Federal National Mortgage Association (FNMA)		2.500	%		9/1/36-9/1/61		496,602,365		399,435,344

See Notes to Schedule of Investments.

    34     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		5.000	%		1/1/39-5/1/53	$	60,501,272	$	57,422,781
Federal National Mortgage Association (FNMA)		2.000	%		8/1/40-3/1/52		458,876,106		355,709,267
Federal National Mortgage Association (FNMA)		1.500	%		1/1/42-3/1/51		33,128,133		24,117,906
Federal National Mortgage Association (FNMA)		4.000	%		7/1/42-6/1/57		187,732,559		168,984,573
Federal National Mortgage Association (FNMA)		3.500	%		1/1/50		40,602,582		35,484,357	(f)
Federal National Mortgage Association (FNMA)		3.000	%		11/1/50-11/1/51		28,943,616		24,371,380	(f)
Federal National Mortgage Association (FNMA)		2.000	%		10/1/53		51,100,000		38,879,914	(i)
Federal National Mortgage Association (FNMA)		2.500	%		10/1/53		27,000,000		21,434,368	(i)
Federal National Mortgage Association (FNMA)		3.500	%		10/1/53		4,500,000		3,870,352	(i)
Federal National Mortgage Association (FNMA)		4.000	%		10/1/53		11,900,000		10,595,648	(i)
Federal National Mortgage Association (FNMA)		4.500	%		10/1/53		16,500,000		15,150,352	(i)
Federal National Mortgage Association (FNMA)		5.000	%		10/1/53		14,500,000		13,680,977	(i)
Federal National Mortgage Association (FNMA)		5.500	%		10/1/53		57,700,000		55,763,894	(i)
Federal National Mortgage Association (FNMA)		6.000	%		10/1/53		139,600,000		137,778,657	(i)
Federal National Mortgage Association (FNMA)		6.500	%		10/1/53		70,500,000		70,824,961	(i)
Federal National Mortgage Association (FNMA) (Federal Reserve U.S. 12 mo. Cumulative Avg 1 Year CMT + 1.810%)		6.237	%		11/1/35		94,784		92,288	(c)
Total FNMA									2,397,968,626
GNMA - 8.9%
Government National Mortgage Association (GNMA)		7.000	%		3/15/24-5/15/32		3,147		3,118
Government National Mortgage Association (GNMA)		6.500	%		4/15/24-8/15/34		1,193,028		1,215,499
Government National Mortgage Association (GNMA)		6.000	%		12/15/28-6/15/35		887,974		890,608

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         35

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA)		7.500	%		3/15/29-8/15/32	$	15,765	$	15,757
Government National Mortgage Association (GNMA)		5.500	%		2/15/35-6/15/36		65,372		64,835
Government National Mortgage Association (GNMA)		5.000	%		1/15/40		15,149		14,766
Government National Mortgage Association (GNMA)		3.000	%		9/15/42-11/15/42		6,108,154		5,321,195
Government National Mortgage Association (GNMA)		3.500	%		6/15/48-5/15/50		3,606,076		3,229,882
Government National Mortgage Association (GNMA)		4.000	%		3/15/50		287,209		261,818
Government National Mortgage Association (GNMA) II		6.000	%		9/20/36-2/20/42		1,038,570		1,076,798
Government National Mortgage Association (GNMA) II		6.500	%		10/20/37		261,185		272,254
Government National Mortgage Association (GNMA) II		4.500	%		1/20/40-9/20/52		133,103,778		124,177,071
Government National Mortgage Association (GNMA) II		5.000	%		7/20/40-5/20/53		120,137,642		114,738,614
Government National Mortgage Association (GNMA) II		3.500	%		6/20/44-2/20/53		148,987,185		131,611,596
Government National Mortgage Association (GNMA) II		4.000	%		10/20/44-4/20/53		120,922,470		110,447,416
Government National Mortgage Association (GNMA) II		3.000	%		1/20/46-4/20/53		328,303,772		278,496,604
Government National Mortgage Association (GNMA) II		2.500	%		10/20/49-2/20/53		156,648,986		127,365,900
Government National Mortgage Association (GNMA) II		2.000	%		2/20/51-3/20/51		38,355,579		30,200,598
Government National Mortgage Association (GNMA) II		5.500	%		11/20/52-2/20/53		23,983,747		23,326,017
Government National Mortgage Association (GNMA) II		6.000	%		7/20/53		21,105,949		20,934,859	(f)
Government National Mortgage Association (GNMA) II		2.000	%		10/20/53		1,100,000		869,816	(i)
Government National Mortgage Association (GNMA) II		2.500	%		10/20/53		11,700,000		9,564,273	(i)
Government National Mortgage Association (GNMA) II		3.000	%		10/20/53		4,100,000		3,475,391	(i)

See Notes to Schedule of Investments.

    36     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA) II		3.500	%		10/20/53	$	25,600,000	$	22,426,000	(i)
Government National Mortgage Association (GNMA) II		4.000	%		10/20/53		1,700,000		1,531,793	(i)
Government National Mortgage Association (GNMA) II		4.500	%		10/20/53		100,000		92,387	(i)
Government National Mortgage Association (GNMA) II		5.000	%		10/20/53		67,100,000		63,587,735	(i)
Government National Mortgage Association (GNMA) II		5.500	%		10/20/53		88,000,000		85,401,249	(i)
Government National Mortgage Association (GNMA) II		6.000	%		10/20/53		84,900,000		84,130,595	(i)
Government National Mortgage Association (GNMA) II		6.500	%		10/20/53		24,000,000		24,136,875	(i)
Total GNMA									1,268,881,319
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $5,534,109,763)									5,036,692,762
COLLATERALIZED MORTGAGE OBLIGATIONS (j) - 13.0%
Alternative Loan Trust, 2006-OA8 1A1 (1 mo. Term SOFR + 0.494%)		5.814	%		7/25/46		389,108		328,555	(c)
Angel Oak Mortgage Trust, 2022-3 A1		4.000	%		1/25/67		29,792,032		26,814,623	(b)
AREIT LLC, 2022-CRE7 A (1 mo. Term SOFR + 2.242%)		7.573	%		6/17/39		8,625,000		8,623,292	(b)(c)
AREIT Trust, 2022-CRE6 A (30 Day Average SOFR + 1.250%)		6.563	%		1/20/37		18,498,407		18,119,460	(b)(c)
BANK, 2017-BNK5 A4		3.131	%		6/15/60		7,310,000		6,659,563
BANK, 2020-BN29 C		3.135	%		11/15/53		1,930,000		1,278,237	(c)
BANK, 2021-BN36 XA, IO		1.010	%		9/15/64		43,884,114		1,840,930	(c)
BANK, 2022-BNK44 A5		5.937	%		11/15/55		7,280,000		7,219,320	(c)
Benchmark Mortgage Trust, 2019-B10 A2		3.614	%		3/15/62		7,659,559		7,536,952
Benchmark Mortgage Trust, 2020-B21 B		2.458	%		12/17/53		3,870,000		2,731,251
Benchmark Mortgage Trust, 2020-IG1 AS		2.909	%		9/15/43		13,280,000		10,028,276	(c)
Benchmark Mortgage Trust, 2021-B25 XA, IO		1.213	%		4/15/54		21,946,421		1,205,912	(c)
BHMS, 2018-ATLS A (1 mo. Term SOFR + 1.547%)		6.879	%		7/15/35		21,879,000		21,619,780	(b)(c)
BRAVO Residential Funding Trust, 2022- NQM3 A1		5.108	%		7/25/62		19,894,343		19,282,484	(b)(c)
BX Commercial Mortgage Trust, 2019-IMC A (1 mo. Term SOFR + 1.114%)		6.446	%		4/15/34		8,956,000		8,889,971	(b)(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         37

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
BX Commercial Mortgage Trust, 2019-XL A (1 mo. Term SOFR + 1.034%)		6.367	%		10/15/36	$	7,413,439	$	7,394,735	(b)(c)
BX Commercial Mortgage Trust, 2021-XL2 A (1 mo. Term SOFR + 0.803%)		6.135	%		10/15/38		23,684,665		23,160,774	(b)(c)
BX Commercial Mortgage Trust, 2022-LP2 A (1 mo. Term SOFR + 1.013%)		6.345	%		2/15/39		16,201,389		15,831,468	(b)(c)
BX Trust, 2022-LBA6 A (1 mo. Term SOFR + 1.000%)		6.332	%		1/15/39		20,360,000		19,925,959	(b)(c)
CD Mortgage Trust, 2016-CD2 A4		3.526	%		11/10/49		4,209,000		3,831,052	(c)
CHL Mortgage Pass-Through Trust, 2005-11 3A3		3.607	%		4/25/35		17,187		12,374	(c)
Citigroup Commercial Mortgage Trust, 2014-GC25 AS		4.017	%		10/10/47		1,773,000		1,700,572
Citigroup Commercial Mortgage Trust, 2016-C2 B		3.176	%		8/10/49		6,920,000		5,985,244
Citigroup Commercial Mortgage Trust, 2016-P6 A4		3.458	%		12/10/49		3,369,873		3,144,051
Citigroup Commercial Mortgage Trust, 2017-B1 A3		3.197	%		8/15/50		8,467,162		7,685,092
Citigroup Commercial Mortgage Trust, 2017-C4 A4		3.471	%		10/12/50		8,956,000		8,106,533
Citigroup Commercial Mortgage Trust, 2017-P7 B		4.137	%		4/14/50		2,624,000		2,243,331	(c)
Citigroup Commercial Mortgage Trust, 2019-C7 A4		3.102	%		12/15/72		17,000,000		14,358,504
Cold Storage Trust, 2020-ICE5 A (1 mo. Term SOFR + 1.014%)		6.347	%		11/15/37		49,277,315		48,817,902	(b)(c)
COLT Mortgage Loan Trust, 2022-2 A1, Step bond (2.994% to 2/25/26 then 3.994%)		2.994	%		2/25/67		15,468,340		13,497,771	(b)
Commercial Mortgage Trust, 2013-300P B		4.540	%		8/10/30		4,057,000		3,575,155	(b)(c)
Commercial Mortgage Trust, 2013-CR12 AM		4.300	%		10/10/46		448,000		392,953
Commercial Mortgage Trust, 2013-CR12 B		4.762	%		10/10/46		394,000		283,832	(c)
Commercial Mortgage Trust, 2013-CR12 C		5.112	%		10/10/46		188,000		70,624	(c)
Commercial Mortgage Trust, 2014-277P A		3.732	%		8/10/49		2,830,000		2,600,981	(b)(c)
Commercial Mortgage Trust, 2014-UBS2 XA, IO		1.188	%		3/10/47		10,221,873		2,269	(c)
Commercial Mortgage Trust, 2015-CR24 AM		4.028	%		8/10/48		7,541,000		7,100,787	(c)
Commercial Mortgage Trust, 2017-PANW A		3.244	%		10/10/29		9,771,000		8,843,807	(b)
Commercial Mortgage Trust, 2020-CX A		2.173	%		11/10/46		8,430,000		6,439,046	(b)
CRSO Trust, 2023-BRND A		7.121	%		7/10/40		5,660,000		5,676,309	(b)

See Notes to Schedule of Investments.

    38     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
CSAIL Commercial Mortgage Trust, 2019- C15 A4		4.053	%		3/15/52	$	13,433,000	$	12,127,690
CSMC Trust, 2017-RPL1 A1		2.750	%		7/25/57		14,155,292		13,377,993	(b)(c)
CSMC Trust, 2017-RPL1 M1		2.962	%		7/25/57		22,223,700		17,733,408	(b)(c)
CSMC Trust, 2017-RPL3 A1		4.000	%		8/1/57		5,858,187		5,300,000	(b)(c)
CSMC Trust, 2018-J1 A2		3.500	%		2/25/48		15,808,354		13,611,181	(b)(c)
CSMC Trust, 2019-ICE4 A (1 mo. Term SOFR + 1.027%)		6.360	%		5/15/36		24,271,615		24,249,756	(b)(c)
CSMC Trust, 2019-NQM1 A1, Step bond (2.656% to 11/25/23 then 3.656%)		2.656	%		10/25/59		3,047,517		2,922,644	(b)
CSMC Trust, 2020-522F A (1 mo. Term SOFR + 3.853%)		9.186	%		9/16/25		54,350,000		36,081,025	(b)(c)
CSMC Trust, 2020-FACT A (1 mo. Term SOFR + 1.464%)		6.797	%		10/15/37		8,970,000		8,783,418	(b)(c)
CSMC Trust, 2020-RPL3 A1		2.691	%		3/25/60		9,505,201		9,331,075	(b)(c)
CSMC Trust, 2020-RPL4 A1		2.000	%		1/25/60		18,845,872		16,089,083	(b)(c)
CSMC Trust, 2021-4SZN A (1 mo. Term SOFR + 3.967%)		9.300	%		11/15/23		17,000,000		16,489,167	(b)(c)
CSMC Trust, 2021-AFC1 A1		0.830	%		3/25/56		6,694,901		4,928,269	(b)(c)
CSMC Trust, 2021-AFC1 A3		1.169	%		3/25/56		2,289,622		1,669,688	(b)(c)
CSMC Trust, 2021-NQM7 A1		1.756	%		10/25/66		28,341,869		22,992,655	(b)(c)
CSMC Trust, 2021-RPL1 A1		1.668	%		9/27/60		9,711,013		8,985,103	(b)(c)
CSMC Trust, 2021-RPL2 A1		0.000	%		1/25/60		25,543,029		21,478,142	(b)
CSMC Trust, 2021-RPL4 A1		1.796	%		12/27/60		13,760,598		12,875,626	(b)(c)
CSMC Trust, 2021-RPL6 A1		2.000	%		10/25/60		14,401,596		12,543,200	(b)(c)
CSMC Trust, 2022-7R 1A1 (30 Day Average SOFR + 3.500%)		8.816	%		10/25/66		20,703,304		20,596,239	(b)(c)
CSMC Trust, 2022-CNTR A (1 mo. Term SOFR + 3.944%)		9.277	%		1/15/24		17,000,000		14,610,000	(b)(c)
CSMC Trust, 2022-NQM1 A1		2.265	%		11/25/66		32,223,691		26,588,251	(b)(c)
CSMC Trust, 2022-RPL4 A1		3.904	%		4/25/62		9,270,454		8,526,138	(b)(c)
DBCG Mortgage Trust, 2017-BBG A		8.500	%		6/15/34		7,610,000		7,531,982	(b)(c)
DBJPM Mortgage Trust, 2016-C1 B		4.195	%		5/10/49		1,320,000		1,146,874	(c)
DC Commercial Mortgage Trust, 2023-DC A		6.314	%		9/12/40		10,590,000		10,576,572	(b)
Deephaven Residential Mortgage Trust, 2022-1 A1		2.205	%		1/25/67		23,332,009		20,285,210	(b)(c)
Deutsche Mortgage Securities Inc. Mortgage Loan Trust, 2004-4 7AR2 (1 mo. Term SOFR + 0.564%)		5.884	%		6/25/34		16,469		14,868	(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         39

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Deutsche Mortgage Securities Inc. Mortgage Loan Trust, 2006-PR1 4AF1 (1 mo. Term SOFR + 0.404%)		5.737	%		4/15/36	$	1,757,361	$	1,509,144	(b)(c)
Ellington Financial Mortgage Trust, 2022-1 A1		2.206	%		1/25/67		22,560,100		18,422,544	(b)(c)
EverBank Mortgage Loan Trust, 2018-1 A22		3.500	%		2/25/48		3,366,935		2,882,916	(b)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR02 BX, IO		1.666	%		8/27/28		10,000,000		658,760	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multiclass Certificates, 2020-RR07 AX, IO		2.468	%		9/27/28		9,000,000		881,262	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily ML Certificates, 2020- ML07 XUS, IO		2.016	%		10/25/36		16,859,069		2,343,748	(b)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily PC REMIC Trust, 2019- RR01 X, IO		1.534	%		6/25/28		15,000,000		870,497	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K062 X1, IO		0.416	%		12/25/26		253,129,240		2,118,590	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K072 X1, IO		0.491	%		12/25/27		60,808,293		809,985	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K091 X1, IO		0.706	%		3/25/29		33,240,865		864,957	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K093 X1, IO		1.083	%		5/25/29		19,465,511		805,257	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K095 XAM, IO		1.374	%		6/25/29		10,114,000		601,785	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K101 X1, IO		0.947	%		10/25/29		19,702,334		793,730	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K105 X1, IO		1.644	%		1/25/30		31,878,749		2,382,018	(c)

See Notes to Schedule of Investments.

    40     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, K106 X1, IO		1.477	%		1/25/30	$	27,037,228	$	1,808,112	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K110 X1, IO		1.813	%		4/25/30		16,399,334		1,356,886	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K115 X1, IO		1.427	%		6/25/30		5,974,539		409,577	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K116 X1, IO		1.528	%		7/25/30		13,412,023		970,011	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K121 X1, IO		1.118	%		10/25/30		1,480,367		79,656	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K124 X1, IO		0.810	%		12/25/30		42,293,568		1,703,027	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K128 X1, IO		0.612	%		3/25/31		48,602,649		1,435,761	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K133 X1, IO		0.444	%		9/25/31		75,602,034		1,690,817	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K136 X1, IO		0.495	%		12/25/31		187,041,174		4,256,234	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K142 X1, IO		0.403	%		3/25/32		34,179,592		714,326	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K143 X1, IO		0.450	%		4/25/55		6,992,291		170,788	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K145 X1, IO		0.430	%		6/25/55		22,464,586		524,312	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K146 X1, IO		0.352	%		6/25/54		54,481,088		998,181	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K147 X1, IO		0.488	%		6/25/32		19,971,926		540,528	(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         41

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, K148 X1, IO		0.391	%		7/25/32	$	59,187,136	$	1,210,673	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K149 X1, IO		0.403	%		8/25/32		32,946,194		708,004	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K151 X1, IO		0.330	%		10/25/32		75,241,416		1,234,832	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K154 X1, IO		0.527	%		1/25/33		25,996,841		760,077	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K155 X1, IO		0.421	%		4/25/33		8,996,735		207,856	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K159 X1, IO		0.123	%		7/25/33		174,435,000		2,478,939	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K507 A2		4.800	%		9/25/28		2,900,000		2,849,317	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K736 X1, IO		1.410	%		7/25/26		8,009,032		224,631	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K737 X1, IO		0.746	%		10/25/26		41,387,706		616,689	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K741 X1, IO		0.653	%		12/25/27		17,913,810		346,525	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K742 X1, IO		0.867	%		3/25/28		18,444,382		424,011	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K750 A2		3.000	%		9/25/29		500,000		446,427
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K751 A2		4.412	%		3/25/30		3,600,000		3,444,270
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K1511 X1, IO		0.929	%		3/25/34		3,551,809		187,587	(c)

See Notes to Schedule of Investments.

    42     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, K1515 X1, IO		1.636	%		2/25/35	$	25,532,663	$	2,831,695	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K1516 X1, IO		1.629	%		5/25/35		7,422,346		871,150	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K1517 X1, IO		1.436	%		7/25/35		6,346,162		647,887	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, K1520 X1, IO		0.578	%		2/25/36		14,948,171		562,994	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, KC05 X1, IO		1.365	%		6/25/27		7,212,933		181,104	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass- Through Certificates, S8FX A2		3.291	%		3/25/27		7,057,000		6,573,991
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily WI Certificates, K160 A2		4.500	%		12/25/33		5,900,000		5,534,363	(b)
Federal Home Loan Mortgage Corp. (FHLMC) Reference REMIC, R007 ZA		6.000	%		5/15/36		845,320		859,033
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 2957 ZA, PAC		5.000	%		3/15/35		1,309,746		1,286,851
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3242 SC, IO (-1.000 x 30 Day Average SOFR + 6.176%)		0.862	%		11/15/36		219,933		15,237	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3281 AI, IO (-1.000 x 30 Day Average SOFR + 6.316%)		1.002	%		2/15/37		563,293		41,073	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3368 AI, IO (-1.000 x 30 Day Average SOFR + 5.916%)		0.602	%		9/15/37		466,996		28,592	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3621 SB, IO (-1.000 x 30 Day Average SOFR + 6.116%)		0.802	%		1/15/40		124,354		8,849	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3639 EY		5.000	%		2/15/30		371,671		367,575

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         43

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, 3947 SG, IO (-1.000 x 30 Day Average SOFR + 5.836%)		0.522	%		10/15/41	$	287,078	$	19,751	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3973 SA, IO (-1.000 x 30 Day Average SOFR + 6.376%)		1.062	%		12/15/41		218,293		19,710	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4054 SA, IO (-1.000 x 30 Day Average SOFR + 5.936%)		0.622	%		8/15/39		442,116		27,159	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4099 ST, IO (-1.000 x 30 Day Average SOFR + 5.886%)		0.572	%		8/15/42		577,529		48,150	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4119 IN, IO		3.500	%		10/15/32		368,902		35,568
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4194 BI, IO, PAC		3.500	%		4/15/43		1,263,027		210,009
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4203 PS, IO, PAC (-1.000 x 30 Day Average SOFR + 6.136%)		0.822	%		9/15/42		360,302		23,984	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4239 IO, IO		3.500	%		6/15/27		312,810		10,487
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4298 PI, IO, PAC		4.000	%		4/15/43		89,854		2,958
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4310 SA, IO (-1.000 x 30 Day Average SOFR + 5.836%)		0.522	%		2/15/44		683,505		48,347	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4335 SW, IO (-1.000 x 30 Day Average SOFR + 5.886%)		0.572	%		5/15/44		275,929		20,030	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4415 IO, IO		0.000	%		4/15/41		359,972		15,508	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CB		3.000	%		5/15/48		3,068,108		2,657,261
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4793 CD		3.000	%		6/15/48		2,049,627		1,761,324
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4813 CJ		3.000	%		8/15/48		1,622,990		1,378,256
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4991 QV		2.000	%		9/25/45		1,306,056		1,006,034
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 IK, IO		2.500	%		9/25/50		3,966,064		597,455

See Notes to Schedule of Investments.

    44     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, 5010 JI, IO		2.500	%		9/25/50	$	10,580,972	$	1,627,863
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5013 IN, IO		2.500	%		9/25/50		4,569,086		720,819
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5018 MI, IO		2.000	%		10/25/50		9,141,066		1,203,660
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5040 IB, IO		2.500	%		11/25/50		2,685,714		464,460
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5059 IB, IO		2.500	%		1/25/51		13,648,944		2,156,398
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5069 MI, IO		2.500	%		2/25/51		5,169,233		750,152
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5085 NI, IO		2.000	%		3/25/51		23,740,155		2,746,195
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5092 AP, PAC		2.000	%		4/25/41		1,983,959		1,658,023
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5140 NI, IO		2.500	%		5/25/49		16,596,219		2,379,065
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5148 BI, IO		2.500	%		1/25/49		22,483,441		3,143,639
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5148 CI, IO		2.000	%		6/25/49		11,217,697		1,254,561
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5200 KQ, PAC		3.000	%		9/25/49		567,638		500,059
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5202 IN, IO		3.000	%		1/25/47		745,629		100,902
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5224 HL, PAC		4.000	%		4/25/52		21,428,000		18,282,125
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5230 PE		2.000	%		12/25/51		14,368,162		10,593,532
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA6 M2 (30 Day Average SOFR + 1.500%)		6.815	%		10/25/41		38,510,000		38,005,796	(b)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA7 M2 (30 Day Average SOFR + 1.800%)		7.115	%		11/25/41		3,500,000		3,423,673	(b)(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         45

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, 2022-DNA1 M1A (30 Day Average SOFR + 1.000%)		6.315	%		1/25/42	$	26,704,017	$	26,474,787	(b)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA3 M1A (30 Day Average SOFR + 2.000%)		7.315	%		4/25/42		11,527,052		11,615,068	(b)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA3 M1B (30 Day Average SOFR + 2.900%)		8.215	%		4/25/42		33,130,000		33,912,862	(b)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA4 M1A (30 Day Average SOFR + 2.200%)		7.515	%		5/25/42		4,512,813		4,562,603	(b)(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 283 IO, IO		3.500	%		10/15/27		94,219		3,683
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 334 S7, IO (-1.000 x 30 Day Average SOFR + 5.986%)		0.672	%		8/15/44		196,201		16,203	(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 353 S1, IO (-1.000 x 30 Day Average SOFR + 5.886%)		0.572	%		12/15/46		3,101,392		242,434	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Agency Credit Risk Debt Notes, 2021-DNA2 M2 (30 Day Average SOFR + 2.300%)		7.615	%		8/25/33		18,703,429		18,866,974	(b)(c)
Federal National Mortgage Association (FNMA) — CAS, 2014-C01 M2 (30 Day Average SOFR + 4.514%)		9.829	%		1/25/24		5,069,610		5,117,700	(c)
Federal National Mortgage Association (FNMA) — CAS, 2022-R04 1M2 (30 Day Average SOFR + 3.100%)		8.415	%		3/25/42		11,510,000		11,699,602	(b)(c)
Federal National Mortgage Association (FNMA) ACES, 2013-M6 1AC		3.454	%		2/25/43		399,370		364,436	(c)
Federal National Mortgage Association (FNMA) ACES, 2014-M3 X2, IO		0.231	%		1/25/24		4,613,491		26	(c)
Federal National Mortgage Association (FNMA) ACES, 2015-M7 X2, IO		0.575	%		12/25/24		85,552,613		258,703	(c)
Federal National Mortgage Association (FNMA) ACES, 2017-M8 A2		3.061	%		5/25/27		1,509,323		1,403,782	(c)

See Notes to Schedule of Investments.

    46     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, 2018-M9 APT2		3.209	%		4/25/28	$	780,234	$	719,788	(c)
Federal National Mortgage Association (FNMA) ACES, 2018-M15 1A2		3.700	%		1/25/36		3,735,000		3,273,592
Federal National Mortgage Association (FNMA) ACES, 2019-M4 A2		3.610	%		2/25/31		1,967,309		1,790,825
Federal National Mortgage Association (FNMA) ACES, 2019-M5 A2		3.273	%		2/25/29		3,564,272		3,273,716
Federal National Mortgage Association (FNMA) ACES, 2019-M6 A2		3.450	%		1/1/29		2,004,843		1,877,036
Federal National Mortgage Association (FNMA) ACES, 2019-M13 X1, IO		0.940	%		6/25/34		3,873,986		153,745	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M14 X1, IO		0.671	%		6/25/29		9,344,820		224,582	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M19 A2		2.560	%		9/25/29		208,732		183,495
Federal National Mortgage Association (FNMA) ACES, 2019-M23 3A3		2.720	%		10/25/31		5,133,599		4,328,450	(c)
Federal National Mortgage Association (FNMA) ACES, 2019-M28 AV		2.232	%		2/25/27		2,411,051		2,236,109
Federal National Mortgage Association (FNMA) ACES, 2020-M6 A		2.500	%		10/25/37		1,437,499		1,195,313
Federal National Mortgage Association (FNMA) ACES, 2020-M36 X1, IO		1.540	%		9/25/34		19,222,749		1,213,547	(c)
Federal National Mortgage Association (FNMA) ACES, 2020-M54 X, IO		1.603	%		12/25/33		36,929,024		2,696,321	(c)
Federal National Mortgage Association (FNMA) ACES, 2023-M4 A2		3.894	%		8/25/32		2,600,000		2,330,886	(c)
Federal National Mortgage Association (FNMA) REMIC, 2010-27 AS, IO (-1.000 x 30 Day Average SOFR + 6.366%)		1.051	%		4/25/40		261,088		22,577	(c)
Federal National Mortgage Association (FNMA) REMIC, 2010-123 PM, PAC		4.000	%		7/25/40		1,331,786		1,290,122
Federal National Mortgage Association (FNMA) REMIC, 2011-59 NZ		5.500	%		7/25/41		430,846		430,219
Federal National Mortgage Association (FNMA) REMIC, 2011-99 KS, IO (-1.000 x 30 Day Average SOFR + 6.586%)		1.271	%		10/25/26		89,132		1,363	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-28 B		6.500	%		6/25/39		14,407		14,511

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         47

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, 2012-35 SC, IO (-1.000 x 30 Day Average SOFR + 6.386%)		1.071	%		4/25/42	$	571,819	$	51,519	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-46 BA		6.000	%		5/25/42		397,884		403,900
Federal National Mortgage Association (FNMA) REMIC, 2012-51 B		7.000	%		5/25/42		148,474		156,366
Federal National Mortgage Association (FNMA) REMIC, 2012-74 OA, PO		0.000	%		3/25/42		26,800		23,518
Federal National Mortgage Association (FNMA) REMIC, 2012-74 SA, IO (-1.000 x 30 Day Average SOFR + 6.536%)		1.221	%		3/25/42		472,011		25,069	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-75 AO, PO		0.000	%		3/25/42		53,599		46,868
Federal National Mortgage Association (FNMA) REMIC, 2012-75 NS, IO (-1.000 x 30 Day Average SOFR + 6.486%)		1.171	%		7/25/42		119,757		10,999	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-101 BI, IO		4.000	%		9/25/27		53,978		1,134
Federal National Mortgage Association (FNMA) REMIC, 2012-118 VZ		3.000	%		11/25/42		7,644,531		6,661,294
Federal National Mortgage Association (FNMA) REMIC, 2012-133 CS, IO (-1.000 x 30 Day Average SOFR + 6.036%)		0.721	%		12/25/42		410,905		34,318	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-134 MS, IO (-1.000 x 30 Day Average SOFR + 6.036%)		0.721	%		12/25/42		274,075		24,183	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-9 BC		6.500	%		7/25/42		765,905		794,804
Federal National Mortgage Association (FNMA) REMIC, 2013-9 CB		5.500	%		4/25/42		2,012,197		2,009,770
Federal National Mortgage Association (FNMA) REMIC, 2013-14 IG, IO		4.000	%		3/25/43		474,761		79,903
Federal National Mortgage Association (FNMA) REMIC, 2013-26 HI, IO		3.000	%		4/25/32		44,444		1,702
Federal National Mortgage Association (FNMA) REMIC, 2013-29 QI, IO		4.000	%		4/25/43		756,161		131,237
Federal National Mortgage Association (FNMA) REMIC, 2013-54 BS, IO (-1.000 x 30 Day Average SOFR + 6.036%)		0.721	%		6/25/43		925,701		83,817	(c)

See Notes to Schedule of Investments.

    48     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, 2013-124 SB, IO (-1.000 x 30 Day Average SOFR + 5.836%)		0.521	%		12/25/43	$	1,981,417	$	160,542	(c)
Federal National Mortgage Association (FNMA) REMIC, 2013-126 CS, IO (-1.000 x 30 Day Average SOFR + 6.036%)		0.721	%		9/25/41		759,469		38,794	(c)
Federal National Mortgage Association (FNMA) REMIC, 2014-47 AI, IO		0.000	%		8/25/44		1,089,199		50,072	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-39 LZ		3.000	%		6/25/45		88,836		75,143
Federal National Mortgage Association (FNMA) REMIC, 2015-56 AS, IO (-1.000 x 30 Day Average SOFR + 6.036%)		0.721	%		8/25/45		557,550		49,689	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-65 CZ		3.500	%		9/25/45		1,459,093		1,147,066
Federal National Mortgage Association (FNMA) REMIC, 2017-76 SB, IO (-1.000 x 30 Day Average SOFR + 5.986%)		0.671	%		10/25/57		6,244,014		561,201	(c)
Federal National Mortgage Association (FNMA) REMIC, 2017-85 SC, IO (-1.000 x 30 Day Average SOFR + 6.086%)		0.771	%		11/25/47		1,810,387		128,915	(c)
Federal National Mortgage Association (FNMA) REMIC, 2018-74 AB		3.500	%		10/25/48		800,167		708,120
Federal National Mortgage Association (FNMA) REMIC, 2020-47 GZ		2.000	%		7/25/50		6,509,318		3,479,123
Federal National Mortgage Association (FNMA) REMIC, 2020-56 AQ		2.000	%		8/25/50		4,400,000		3,226,432
Federal National Mortgage Association (FNMA) REMIC, 2020-56 DI, IO		2.500	%		8/25/50		4,413,029		686,175
Federal National Mortgage Association (FNMA) REMIC, 2020-57 TA		2.000	%		4/25/50		5,236,863		4,381,391
Federal National Mortgage Association (FNMA) REMIC, 2020-73 KI, IO		3.000	%		10/25/50		617,788		102,845
Federal National Mortgage Association (FNMA) REMIC, 2020-74 EI, IO		2.500	%		10/25/50		3,875,501		625,037
Federal National Mortgage Association (FNMA) REMIC, 2020-89 DI, IO		2.500	%		12/25/50		24,177,086		3,633,037
Federal National Mortgage Association (FNMA) REMIC, 2020-97 AI, IO		2.000	%		1/25/51		29,411,269		3,910,405
Federal National Mortgage Association (FNMA) REMIC, 2021-1 IG, IO		2.500	%		2/25/51		16,716,609		2,763,093

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         49

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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, 2021-3 QI, IO		2.500	%		2/25/51	$	20,775,684	$	3,238,318
Federal National Mortgage Association (FNMA) REMIC, 2021-28 LB		2.000	%		4/25/51		6,110,422		4,832,032
Federal National Mortgage Association (FNMA) REMIC, 2021-43 IO, IO		2.500	%		6/25/51		7,445,536		1,129,740
Federal National Mortgage Association (FNMA) REMIC, 2021-44 MI, IO		2.500	%		7/25/51		913,800		155,329
Federal National Mortgage Association (FNMA) REMIC, 2021-61 KI, IO		2.500	%		4/25/49		31,074,591		4,327,221
Federal National Mortgage Association (FNMA) REMIC, 2021-65 JA		2.000	%		1/25/46		1,563,036		1,318,373
Federal National Mortgage Association (FNMA) REMIC, 2021-69 IJ, IO		2.500	%		1/25/49		43,829,892		5,983,517
Federal National Mortgage Association (FNMA) REMIC, 2022-57 BC		4.000	%		9/25/52		542,596		498,778
Federal National Mortgage Association (FNMA) REMIC, 2022-86 IO, IO		2.500	%		5/25/50		1,532,350		215,835
Federal National Mortgage Association (FNMA) STRIPS, 390 C3, IO		6.000	%		7/25/38		159,362		34,410
Federal National Mortgage Association (FNMA) STRIPS, 407 22, IO		5.000	%		1/25/39		57,617		11,452
Federal National Mortgage Association (FNMA) STRIPS, 407 23, IO		5.000	%		1/25/39		28,690		5,710	(c)
Federal National Mortgage Association (FNMA) STRIPS, 407 27, IO		5.500	%		1/25/39		27,572		5,972	(c)
Federal National Mortgage Association (FNMA) STRIPS, 407 34, IO		5.000	%		1/25/38		39,873		6,510
Federal National Mortgage Association (FNMA) STRIPS, 407 41, IO		6.000	%		1/25/38		204,412		44,561
Federal National Mortgage Association (FNMA) STRIPS, 409 C1, IO		3.000	%		11/25/26		314,224		9,220
Federal National Mortgage Association (FNMA) STRIPS, 409 C2, IO		3.000	%		4/25/27		451,681		16,177
Federal National Mortgage Association (FNMA) STRIPS, 409 C13, IO		3.500	%		11/25/41		565,939		86,392
Federal National Mortgage Association (FNMA) STRIPS, 409 C17, IO		4.000	%		11/25/41		663,171		120,858
Federal National Mortgage Association (FNMA) STRIPS, 409 C18, IO		4.000	%		4/25/42		468,592		86,871

See Notes to Schedule of Investments.

    50     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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 C22, IO		4.500	%		11/25/39	$	309,717	$	57,669
FREMF Mortgage Trust, 2019-K103 X2A, IO		0.100	%		12/25/51		348,446,520		1,623,691	(b)
Galton Funding Mortgage Trust, 2017-1 A22		3.000	%		7/25/56		636,035		554,105	(b)(c)
Government National Mortgage Association (GNMA), 2010-42 BS, IO (-1.000x1 mo. Term SOFR + 6.366%)		1.041	%		4/20/40		53,682		4,970	(c)
Government National Mortgage Association (GNMA), 2010-76 CS, IO (-1.000x1 mo. Term SOFR + 6.436%)		1.111	%		6/20/40		944,545		88,860	(c)
Government National Mortgage Association (GNMA), 2010-85 HS, IO, PAC (-1.000 x 1 mo. Term SOFR + 6.536%)		1.211	%		1/20/40		13,710		71	(c)
Government National Mortgage Association (GNMA), 2010-H03 FA (1 mo. Term SOFR + 0.664%)		5.993	%		3/20/60		596,752		594,719	(c)
Government National Mortgage Association (GNMA), 2010-H10 FC (1 mo. Term SOFR + 1.114%)		6.443	%		5/20/60		281,806		282,292	(c)
Government National Mortgage Association (GNMA), 2010-H26 LF (1 mo. Term SOFR + 0.464%)		5.782	%		8/20/58		200,778		199,613	(c)
Government National Mortgage Association (GNMA), 2010-H27 FA (1 mo. Term SOFR + 0.494%)		5.812	%		12/20/60		716,502		712,279	(c)
Government National Mortgage Association (GNMA), 2010-H28 FE (1 mo. Term SOFR + 0.514%)		5.832	%		12/20/60		696,722		692,833	(c)
Government National Mortgage Association (GNMA), 2011-H03 FA (1 mo. Term SOFR + 0.614%)		5.932	%		1/20/61		480,439		478,330	(c)
Government National Mortgage Association (GNMA), 2011-H05 FB (1 mo. Term SOFR + 0.614%)		5.932	%		12/20/60		761,034		757,519	(c)
Government National Mortgage Association (GNMA), 2011-H06 FA (1 mo. Term SOFR + 0.564%)		5.882	%		2/20/61		712,261		708,597	(c)
Government National Mortgage Association (GNMA), 2011-H08 FG (1 mo. Term SOFR + 0.594%)		5.912	%		3/20/61		885,890		882,185	(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         51

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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), 2011-H09 AF (1 mo. Term SOFR + 0.614%)		5.932	%		3/20/61	$	517,525	$	515,516	(c)
Government National Mortgage Association (GNMA), 2012-27 IO, IO		0.236	%		4/16/53		4,834,525		11,214	(c)
Government National Mortgage Association (GNMA), 2012-34 SA, IO (-1.000x1 mo. Term SOFR + 5.936%)		0.611	%		3/20/42		1,061,666		90,239	(c)
Government National Mortgage Association (GNMA), 2012-44 IO, IO		0.029	%		3/16/49		1,411,935		161	(c)
Government National Mortgage Association (GNMA), 2012-81 AI, IO		3.500	%		4/20/27		15,468		111
Government National Mortgage Association (GNMA), 2012-98 SA, IO (-1.000x1 mo. Term SOFR + 5.986%)		0.655	%		8/16/42		416,747		33,830	(c)
Government National Mortgage Association (GNMA), 2012-112 IO, IO		0.111	%		2/16/53		3,755,086		8,829	(c)
Government National Mortgage Association (GNMA), 2012-124 AS, IO (-1.000x1 mo. Term SOFR + 6.086%)		0.755	%		10/16/42		427,328		34,206	(c)
Government National Mortgage Association (GNMA), 2013-50 IO, IO		0.061	%		10/16/48		22,490,807		30,907	(c)
Government National Mortgage Association (GNMA), 2013-72 IO, IO		0.570	%		11/16/47		7,860,467		112,219	(c)
Government National Mortgage Association (GNMA), 2013-107 AD		2.839	%		11/16/47		3,054,946		2,635,637	(c)
Government National Mortgage Association (GNMA), 2013-163 IO, IO		1.012	%		2/16/46		2,641,588		57,212	(c)
Government National Mortgage Association (GNMA), 2014-5 SP, IO, PAC (-1.000x1 mo. Term SOFR + 6.036%)		0.705	%		6/16/43		187,100		5,607	(c)
Government National Mortgage Association (GNMA), 2014-17 AM		3.537	%		6/16/48		69,503		64,508	(c)
Government National Mortgage Association (GNMA), 2014-47 IA, IO		0.148	%		2/16/48		647,829		2,568	(c)
Government National Mortgage Association (GNMA), 2014-50 IO, IO		0.628	%		9/16/55		3,046,012		74,944	(c)
Government National Mortgage Association (GNMA), 2014-118 HS, IO (-1.000x1 mo. Term SOFR + 6.086%)		0.761	%		8/20/44		3,653,045		329,649	(c)

See Notes to Schedule of Investments.

    52     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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), 2014-160 EI, IO		4.000	%		7/16/26	$	261,161	$	5,345
Government National Mortgage Association (GNMA), 2014-186 IO, IO		0.372	%		8/16/54		4,593,698		48,357	(c)
Government National Mortgage Association (GNMA), 2015-98 IO, IO		0.343	%		4/16/55		11,208,846		135,215	(c)
Government National Mortgage Association (GNMA), 2015-167 OI, IO		4.000	%		4/16/45		1,225,220		235,126
Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC		4.500	%		11/16/45		6,612,511		1,309,738
Government National Mortgage Association (GNMA), 2016-135 SB, IO (-1.000x1 mo. Term SOFR + 5.986%)		0.655	%		10/16/46		1,876,505		208,039	(c)
Government National Mortgage Association (GNMA), 2016-H06 FD (1 mo. Term SOFR + 1.034%)		6.197	%		7/20/65		159,851		159,366	(c)
Government National Mortgage Association (GNMA), 2017-8 IO, IO		0.448	%		8/16/58		4,916,733		117,488	(c)
Government National Mortgage Association (GNMA), 2017-28 IO, IO		0.680	%		2/16/57		8,048,360		272,984	(c)
Government National Mortgage Association (GNMA), 2017-41 IO, IO		0.592	%		7/16/58		2,738,445		77,675	(c)
Government National Mortgage Association (GNMA), 2017-111 IO, IO		0.526	%		2/16/59		4,152,119		125,716	(c)
Government National Mortgage Association (GNMA), 2017-145 IO, IO		0.506	%		4/16/57		5,724,605		161,624	(c)
Government National Mortgage Association (GNMA), 2017-157 IO, IO		0.504	%		12/16/59		3,214,899		108,467	(c)
Government National Mortgage Association (GNMA), 2017-190 IO, IO		0.618	%		3/16/60		1,280,976		44,611	(c)
Government National Mortgage Association (GNMA), 2017-H22 IC, IO		0.574	%		11/20/67		410,264		11,392	(c)
Government National Mortgage Association (GNMA), 2018-37 QA		2.750	%		3/20/48		1,124,913		964,012
Government National Mortgage Association (GNMA), 2018-168 PA, PAC		4.000	%		8/20/48		563,323		519,994
Government National Mortgage Association (GNMA), 2018-H06 PF (1 mo. Term SOFR + 0.414%)		5.732	%		2/20/68		2,271,745		2,247,079	(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         53

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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), 2018-H07 FD (1 mo. Term SOFR + 0.414%)		5.732	%		5/20/68	$	3,878,797	$	3,870,096	(c)
Government National Mortgage Association (GNMA), 2018-H08 KF (1 mo. Term SOFR + 0.414%)		5.732	%		5/20/68		2,192,574		2,173,349	(c)
Government National Mortgage Association (GNMA), 2019-18 TP, PAC		3.500	%		2/20/49		367,377		324,440
Government National Mortgage Association (GNMA), 2019-90 AB		3.000	%		7/20/49		2,210,363		1,895,005
Government National Mortgage Association (GNMA), 2020-47 MI, IO, PAC		3.500	%		4/20/50		7,458,052		1,276,379
Government National Mortgage Association (GNMA), 2020-47 NI, IO, PAC		3.500	%		4/20/50		2,729,188		455,146
Government National Mortgage Association (GNMA), 2020-103 AD		1.450	%		1/16/63		3,915,955		2,830,179
Government National Mortgage Association (GNMA), 2020-109 AI, IO		0.840	%		5/16/60		14,130,921		775,246	(c)
Government National Mortgage Association (GNMA), 2020-123 IL, IO, PAC		2.500	%		8/20/50		2,953,213		385,962
Government National Mortgage Association (GNMA), 2020-123 NI, IO		2.500	%		8/20/50		9,610,699		1,295,700
Government National Mortgage Association (GNMA), 2020-127 IN, IO		2.500	%		8/20/50		4,533,524		617,834
Government National Mortgage Association (GNMA), 2020-129 IE, IO		2.500	%		9/20/50		4,297,567		588,162
Government National Mortgage Association (GNMA), 2020-157 IO, IO		0.940	%		6/16/62		17,203,983		1,057,842	(c)
Government National Mortgage Association (GNMA), 2020-160 IH, IO		2.500	%		10/20/50		3,186,658		432,774
Government National Mortgage Association (GNMA), 2020-160 VI, IO		2.500	%		10/20/50		4,454,535		633,900
Government National Mortgage Association (GNMA), 2020-160 YI, IO		2.500	%		10/20/50		14,930,400		1,987,323
Government National Mortgage Association (GNMA), 2020-181 WI, IO		2.000	%		12/20/50		33,060,073		3,573,143
Government National Mortgage Association (GNMA), 2020-184, IO, IO		0.913	%		11/16/60		5,629,863		336,602	(c)
Government National Mortgage Association (GNMA), 2020-195 IO, IO		0.926	%		12/16/62		77,391,582		4,970,606	(c)

See Notes to Schedule of Investments.

    54     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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-H09 FL (1 mo. Term SOFR + 1.264%)		4.849	%		5/20/70	$	8,672,250	$	8,613,023	(c)
Government National Mortgage Association (GNMA), 2020-H09 NF (1 mo. Term SOFR + 1.364%)		6.682	%		4/20/70		6,676,939		6,735,025	(c)
Government National Mortgage Association (GNMA), 2020-H12 F (1 mo. Term SOFR + 0.614%)		5.531	%		7/20/70		1,896,748		1,847,450	(c)
Government National Mortgage Association (GNMA), 2020-H13 FA (1 mo. Term SOFR + 0.564%)		5.000	%		7/20/70		2,923,197		2,832,209	(c)
Government National Mortgage Association (GNMA), 2020-H13 FC (1 mo. Term SOFR + 0.564%)		4.941	%		7/20/70		22,543,037		21,869,536	(c)
Government National Mortgage Association (GNMA), 2021-2 AH		1.500	%		6/16/63		843,659		604,209
Government National Mortgage Association (GNMA), 2021-8 AQ		5.000	%		1/20/51		447,636		437,832
Government National Mortgage Association (GNMA), 2021-14 AB		1.340	%		6/16/63		7,532,651		5,522,613
Government National Mortgage Association (GNMA), 2021-21 AH		1.400	%		6/16/63		1,046,264		770,785
Government National Mortgage Association (GNMA), 2021-29 AG		5.000	%		2/20/51		523,514		501,292
Government National Mortgage Association (GNMA), 2021-29 TI, IO		2.500	%		2/20/51		24,223,464		4,032,480
Government National Mortgage Association (GNMA), 2021-37, IO, IO		0.805	%		1/16/61		16,394,626		941,461	(c)
Government National Mortgage Association (GNMA), 2021-60 IO, IO		0.826	%		5/16/63		15,925,827		930,406	(c)
Government National Mortgage Association (GNMA), 2021-68 IO, IO		0.870	%		10/16/62		13,549,685		813,988	(c)
Government National Mortgage Association (GNMA), 2021-77 LC, PAC		1.250	%		7/20/50		3,529,425		2,638,758
Government National Mortgage Association (GNMA), 2021-115 MI, IO, PAC		2.500	%		5/20/51		8,598,324		907,644
Government National Mortgage Association (GNMA), 2021-188 PA, PAC		2.000	%		10/20/51		5,377,121		4,360,853
Government National Mortgage Association (GNMA), 2021-223 P, PAC		2.000	%		6/20/51		21,687,166		18,209,256

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         55

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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), 2022-3 B		1.850	%		2/16/61	$	7,849,057	$	3,540,261
Government National Mortgage Association (GNMA), 2022-3 IO, IO		0.640	%		2/16/61		66,203,262		3,294,652	(c)
Government National Mortgage Association (GNMA), 2022-55 IO, IO		0.567	%		1/16/63		14,621,415		682,399	(c)
Government National Mortgage Association (GNMA), 2022-59 IO, IO		0.571	%		2/16/62		30,680,368		1,505,578	(c)
Government National Mortgage Association (GNMA), 2022-63 LM		3.500	%		10/20/50		13,286,616		10,487,691
Government National Mortgage Association (GNMA), 2022-99 JW		2.500	%		1/20/52		1,000,000		763,565
Government National Mortgage Association (GNMA), 2022-139 AL		4.000	%		7/20/51		10,400,000		8,965,767
Government National Mortgage Association (GNMA), 2022-189 PT		2.500	%		10/20/51		13,495,272		10,688,844
Government National Mortgage Association (GNMA), 2022-196 BE		3.000	%		10/16/64		9,200,000		6,235,885	(c)
Government National Mortgage Association (GNMA), 2022-210 IO, IO		0.695	%		7/16/64		8,428,735		537,523	(c)
Government National Mortgage Association (GNMA), 2022-216 IO, IO		0.750	%		7/16/65		7,458,918		476,095	(c)
Government National Mortgage Association (GNMA), 2022-220 E		3.000	%		10/16/64		7,700,000		5,336,325	(c)
Government National Mortgage Association (GNMA), 2023-92 AH		2.000	%		6/16/64		44,258,305		31,640,006
Government National Mortgage Association (GNMA), 2023-92 IA, IO		0.611	%		6/16/64		67,457,114		4,144,896	(c)
GS Mortgage Securities Corp. Trust, 2018- RIVR D (1 mo. Term SOFR + 1.631%)		6.964	%		7/15/35		11,033,000		5,283,524	(b)(c)
GS Mortgage Securities Corp. Trust, 2018- SRP5 A (1 mo. Term SOFR + 1.914%)		7.247	%		9/15/31		23,499,595		19,630,552	(b)(c)
GS Mortgage Securities Corp. Trust, 2018- SRP5 B (1 mo. Term SOFR + 3.114%)		8.447	%		9/15/31		28,427,389		15,522,017	(b)(c)
GS Mortgage Securities Trust, 2013-GC16 B		5.161	%		11/10/46		712,132		707,537	(c)
GS Mortgage Securities Trust, 2017-GS8 A4		3.469	%		11/10/50		10,290,000		9,310,470
HarborView Mortgage Loan Trust, 2005-9 2A1B (1 mo. Term SOFR + 0.854%)		6.179	%		6/20/35		3,061,603		2,768,263	(c)
IndyMac INDX Mortgage Loan Trust, 2005- AR15 A2		3.755	%		9/25/35		12,158		10,619	(c)

See Notes to Schedule of Investments.

    56     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
INTOWN Mortgage Trust, 2022-STAY A (1 mo. Term SOFR + 2.489%)		7.821	%		8/15/39	$	6,000,000	$	6,019,614	(b)(c)
JPMBB Commercial Mortgage Securities Trust, 2013-C14 B		4.385	%		8/15/46		101,574		94,895	(c)
JPMBB Commercial Mortgage Securities Trust, 2013-C17 B		5.032	%		1/15/47		439,000		397,936	(c)
JPMBB Commercial Mortgage Securities Trust, 2014-C22 C		4.700	%		9/15/47		1,379,000		1,066,313	(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2013-LC11 AS		3.216	%		4/15/46		570,552		538,601
JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (PRIME + 0.693%)		9.193	%		5/15/28		2,186,936		1,945,936	(b)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2022-NLP A (1 mo. Term SOFR + 0.597%)		5.929	%		4/15/37		7,322,097		6,751,306	(b)(c)
JPMorgan Mortgage Trust, 2018-3 A1		3.500	%		9/25/48		4,712,965		4,051,484	(b)(c)
JPMorgan Mortgage Trust, 2018-5 A1		3.500	%		10/25/48		4,292,221		3,666,662	(b)(c)
Legacy Mortgage Asset Trust, 2020-GS5 A1, Step bond (6.250% to 8/25/24 then 7.250%)		6.250	%		6/25/60		6,685,470		6,619,105	(b)
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		13,741,395		12,784,000	(b)
Legacy Mortgage Asset Trust, 2021-GS2 A1, Step bond (1.750% to 4/25/24, 4.750% to 4/25/25 then 5.750%)		1.750	%		4/25/61		7,195,169		6,680,005	(b)
MASTR Reperforming Loan Trust, 2005-2 1A1F (1 mo. Term SOFR + 0.464%)		5.784	%		5/25/35		321,438		169,811	(b)(c)
Merrill Lynch Mortgage Investors Trust, 2005-A9 3A1		5.045	%		12/25/35		11,143		5,908	(c)
Merrill Lynch Mortgage Investors Trust, 2006-1 1A		4.227	%		2/25/36		9,778		9,069	(c)
MHC Trust, 2021-MHC2 A (1 mo. Term SOFR + 0.964%)		6.296	%		5/15/38		4,575,276		4,505,433	(b)(c)
Morgan Stanley Bank of America Merrill Lynch Trust, 2017-C34 B		4.111	%		11/15/52		1,260,000		1,079,207	(c)
Morgan Stanley Capital I Trust, 2017-ASHF A (1 mo. Term SOFR + 1.022%)		6.355	%		11/15/34		1,971,021		1,953,382	(b)(c)
Morgan Stanley Capital I Trust, 2019-BPR A (1 mo. Term SOFR + 1.992%)		7.322	%		5/15/36		15,222,188		14,667,758	(b)(c)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         57

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Morgan Stanley Capital I Trust, 2019-L2 XA, IO		1.168	%		3/15/52	$	41,006,486	$	1,680,118	(c)
Morgan Stanley Mortgage Loan Trust, 2005- 3AR 2A2		3.269	%		7/25/35		233,462		202,042	(c)
MSCG Trust, 2015-ALDR A2		3.577	%		6/7/35		6,358,000		5,854,531	(b)(c)
NAAC Reperforming Loan REMIC Certificates Trust, 2004-R3 A1		6.500	%		2/25/35		99,343		87,547	(b)
Natixis Commercial Mortgage Securities Trust, 2019-FAME A		3.047	%		8/15/36		15,583,000		13,824,008	(b)
New Residential Mortgage Loan Trust, 2018-1A A1A		4.000	%		12/25/57		6,307,170		5,884,429	(b)(c)
New Residential Mortgage Loan Trust, 2019-3A A1A		3.750	%		11/25/58		8,708,945		7,920,150	(b)(c)
New Residential Mortgage Loan Trust, 2019-RPL3 A1		2.750	%		7/25/59		22,529,427		20,908,344	(b)(c)
New Residential Mortgage Loan Trust, 2021-NQM3 A1		1.156	%		11/27/56		10,132,379		8,183,259	(b)(c)
New Residential Mortgage Loan Trust, 2022-NQM3 A1, Step bond (3.900% to 5/25/26 then 4.990%)		3.900	%		4/25/62		15,338,517		13,523,869	(b)
Nomura Asset Acceptance Corp. Alternative Loan Trust, 2005-AP2 A5		5.476	%		5/25/35		46,381		23,991
NYMT Loan Trust, 2020-SP2 A1		2.944	%		10/25/60		21,314,926		21,235,429	(b)(c)
NYMT Loan Trust, 2022-CP1 A1		2.042	%		7/25/61		13,748,701		12,241,429	(b)
OBX Trust, 2021-NQM3 A3		1.362	%		7/25/61		7,259,193		5,356,334	(b)(c)
OBX Trust, 2022-NQM1 A1		2.305	%		11/25/61		16,304,433		13,568,757	(b)(c)
OBX Trust, 2023-NQM7 A1		6.844	%		4/25/63		20,930,000		20,980,203	(b)
OPG Trust, 2021-PORT A (1 mo. Term SOFR + 0.598%)		5.931	%		10/15/36		14,775,049		14,409,990	(b)(c)
Prime Mortgage Trust, 2006-DR1 2A2		6.000	%		5/25/35		10,226,122		7,737,890	(b)
PRKCM Trust, 2021-AFC1 A1		1.510	%		8/25/56		8,229,185		6,331,141	(b)(c)
PRKCM Trust, 2021-AFC2 A1		2.071	%		11/25/56		10,504,041		8,588,152	(b)(c)
SBALR Commercial Mortgage Trust, 2020- RR1 A3		2.825	%		2/13/53		21,202,523		16,676,336	(b)
SG Residential Mortgage Trust, 2022-1 A1		3.166	%		3/27/62		8,741,167		7,568,248	(b)(c)
SG Residential Mortgage Trust, 2022-2 A1		5.353	%		8/25/62		29,266,859		28,361,972	(b)
SHOW Trust, 2022 BIZ A (1 mo. Term SOFR + 2.984%)		8.314	%		1/15/27		11,250,000		10,759,252	(b)(c)
SMRT, 2022-MINI A (1 mo. Term SOFR + 1.000%)		6.333	%		1/15/39		20,410,000		19,899,850	(b)(c)

See Notes to Schedule of Investments.

    58     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(j) - (continued)
Soho Trust, 2021-SOHO A		2.786	%		8/10/38	$	34,000,000	$	23,477,473	(b)(c)
Towd Point Mortgage Trust, 2017-6 M1		3.250	%		10/25/57		18,080,000		15,568,109	(b)(c)
Towd Point Mortgage Trust, 2022-4 A1		3.750	%		9/25/62		14,847,996		13,428,549	(b)
UBS Commercial Mortgage Trust, 2018-C11 B		4.713	%		6/15/51		1,430,000		1,180,805	(c)
UBS Commercial Mortgage Trust, 2018-C15 C		5.323	%		12/15/51		2,960,000		2,364,539	(c)
VLS Commercial Mortgage Trust, 2020-LAB A		2.130	%		10/10/42		36,680,000		28,006,478	(b)
VLS Commercial Mortgage Trust, 2020-LAB B		2.453	%		10/10/42		2,250,000		1,701,763	(b)
WaMu Mortgage Pass-Through Certificates Trust, 2003-AR9 1A7		5.683	%		9/25/33		4,884		4,498	(c)
WaMu Mortgage Pass-Through Certificates Trust, 2007-HY4 4A1		3.995	%		9/25/36		55,166		47,213	(c)
Waterfall Commercial Mortgage Trust, 2015-SBC5 A		4.104	%		12/31/23		365,210		348,662	(b)(c)
Wells Fargo Commercial Mortgage Trust, 2014-LC18 B		3.959	%		12/15/47		2,066,000		1,909,874
Wells Fargo Commercial Mortgage Trust, 2015-NXS1 XA, IO		1.197	%		5/15/48		28,385,041		285,185	(c)
Wells Fargo Commercial Mortgage Trust, 2019-C49 B		4.546	%		3/15/52		7,160,000		5,986,071
Wells Fargo Commercial Mortgage Trust, 2021-C60 XA, IO		1.653	%		8/15/54		97,699,724		7,483,428	(c)
Wells Fargo Commercial Mortgage Trust, 2022-JS2 A		3.084	%		12/15/39		7,480,000		5,903,031	(b)
WFRBS Commercial Mortgage Trust, 2014- C19 B		4.723	%		3/15/47		224,000		209,637	(c)
WFRBS Commercial Mortgage Trust, 2014- C19 XA, IO		1.110	%		3/15/47		4,530,218		6,705	(c)
WFRBS Commercial Mortgage Trust, 2014- C21 B		4.213	%		8/15/47		4,621,000		4,187,621	(c)
WFRBS Commercial Mortgage Trust, 2014- C21 XA, IO		1.146	%		8/15/47		20,610,188		139,910	(c)
WFRBS Commercial Mortgage Trust, 2014- C24 AS		3.931	%		11/15/47		2,611,000		2,360,213
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $2,053,965,768)									1,840,333,114

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         59

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 8.3%
U.S. Government Agencies - 0.2%
Federal National Mortgage Association (FNMA), Notes		6.625	%		11/15/30	$	18,010,000	$	19,947,495
U.S. Government Obligations - 8.1%
U.S. Treasury Bonds		1.125	%		8/15/40		49,340,000		28,067,907
U.S. Treasury Bonds		2.250	%		5/15/41		58,290,000		40,017,451
U.S. Treasury Bonds		3.250	%		5/15/42		350,000		278,981
U.S. Treasury Bonds		3.375	%		8/15/42		125,000,000		101,306,152
U.S. Treasury Bonds		4.000	%		11/15/42		162,710,000		144,443,261	(a)(k)
U.S. Treasury Bonds		3.875	%		2/15/43		5,000,000		4,352,344
U.S. Treasury Bonds		3.875	%		5/15/43		28,060,000		24,399,047
U.S. Treasury Bonds		4.375	%		8/15/43		58,080,000		54,195,900	(f)
U.S. Treasury Bonds		3.625	%		2/15/44		51,890,000		43,162,954	(a)(k)
U.S. Treasury Bonds		3.375	%		5/15/44		4,670,000		3,728,065
U.S. Treasury Bonds		3.125	%		8/15/44		6,050,000		4,624,469
U.S. Treasury Bonds		2.875	%		8/15/45		108,520,000		78,634,610	(k)
U.S. Treasury Bonds		3.000	%		2/15/48		63,390,000		46,391,080
U.S. Treasury Bonds		3.000	%		2/15/49		38,220,000		27,943,896
U.S. Treasury Bonds		1.375	%		8/15/50		14,705,000		7,180,176
U.S. Treasury Bonds		1.625	%		11/15/50		177,590,000		93,064,791
U.S. Treasury Bonds		1.875	%		2/15/51		280,310,000		157,176,169
U.S. Treasury Bonds		2.375	%		5/15/51		26,160,000		16,597,294
U.S. Treasury Bonds		3.000	%		8/15/52		10,980,000		8,003,819
U.S. Treasury Bonds		4.000	%		11/15/52		78,910,000		69,958,647
U.S. Treasury Bonds		3.625	%		2/15/53		38,338,000		31,715,709
U.S. Treasury Bonds		3.625	%		5/15/53		174,130,000		144,215,009
U.S. Treasury Bonds		4.125	%		8/15/53		15,330,000		13,919,161
U.S. Treasury Notes		5.000	%		8/31/25		290,000		289,434
U.S. Treasury Notes		4.625	%		9/15/26		110,000		109,467
U.S. Treasury Notes		4.375	%		8/31/28		20,000		19,803
U.S. Treasury Notes		3.375	%		5/15/33		4,680,000		4,244,906
U.S. Treasury Notes		3.875	%		8/15/33		7,120,000		6,728,400
Total U.S. Government Obligations									1,154,768,902
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $1,546,815,651)									1,174,716,397
ASSET-BACKED SECURITIES - 6.8%
522 Funding CLO Ltd., 2020-6A A1R (3 mo. Term SOFR + 1.412%)		6.757	%		10/23/34		21,870,000		21,730,070	(b)(c)
AB BSL CLO Ltd., 2023-4A A (3 mo. Term SOFR + 2.000%)		6.957	%		4/20/36		3,540,000		3,546,195	(b)(c)

See Notes to Schedule of Investments.

    60     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
ASSET-BACKED SECURITIES - (continued)
AIMCO CLO, 2017-AA AR (3 mo. Term SOFR + 1.312%)		6.638	%		4/20/34	$	400,000	$	397,002	(b)(c)
AMMC CLO Ltd., 2012-11A A1R2 (3 mo. Term SOFR + 1.272%)		6.641	%		4/30/31		1,440,679		1,436,681	(b)(c)
Amortizing Residential Collateral Trust, 2002-BC5 M1 (1 mo. Term SOFR + 1.149%)		6.469	%		7/25/32		42,931		43,066	(c)
Apidos CLO, 2021-35A A (3 mo. Term SOFR + 1.312%)		6.638	%		4/20/34		4,300,000		4,271,124	(b)(c)
Aqua Finance Trust, 2021-A A		1.540	%		7/17/46		7,789,167		6,851,708	(b)
Arbor Realty Commercial Real Estate Notes Ltd., 2022-FL1 A (30 Day Average SOFR + 1.450%)		6.763	%		1/15/37		8,850,000		8,753,093	(b)(c)
Arbys Funding LLC, 2020-1A A2		3.237	%		7/30/50		873,000		776,341	(b)
Ares CLO Ltd., 2022-63A A1A (3 mo. Term SOFR + 1.380%)		6.706	%		4/20/35		9,450,000		9,382,704	(b)(c)
Argent Securities Trust, 2006-W4 A2B (1 mo. Term SOFR + 0.334%)		5.654	%		5/25/36		93,735		22,899	(c)
Atrium, 9AAR2 (3 mo. Term SOFR + 1.252%)		6.640	%		5/28/30		1,064,539		1,062,141	(b)(c)
Avis Budget Rental Car Funding AESOP LLC, 2023-1A A		5.250	%		4/20/29		11,401,000		11,045,007	(b)
Balboa Bay Loan Funding Ltd., 2021-2A A1 (3 mo. Term SOFR + 1.432%)		6.765	%		1/20/35		10,520,000		10,478,391	(b)(c)
Ballyrock CLO Ltd., 2019-2A A1BR (3 mo. Term SOFR + 1.462%)		6.841	%		11/20/30		930,000		927,756	(b)(c)
Barings Private Credit Corp. CLO Ltd., 2023-1A A1 (3 mo. Term SOFR + 2.400%)		7.807	%		7/15/31		4,650,000		4,652,213	(b)(c)
Battery Park CLO Ltd., 2022-1A A1 (3 mo. Term SOFR + 2.210%)		7.536	%		10/20/35		17,010,000		17,085,922	(b)(c)
BCRED MML CLO LLC, 2021-1A A (3 mo. Term SOFR + 1.742%)		7.050	%		1/15/35		14,260,000		14,117,400	(b)(c)
BCRED MML CLO LLC, 2022-1A A1 (3 mo. Term SOFR + 1.650%)		6.976	%		4/20/35		8,380,000		8,224,491	(b)(c)
Bear Stearns Asset Backed Securities Trust, 2004-HE10 M1 (1 mo. Term SOFR + 1.089%)		5.628	%		12/25/34		2,682,532		2,650,773	(c)
Benefit Street Partners CLO Ltd., 2014-IVA ARRR (3 mo. Term SOFR + 1.442%)		6.768	%		1/20/32		6,000,000		5,994,866	(b)(c)(l)
Birch Grove CLO Ltd., 2023-6A A1 (3 mo. Term SOFR + 2.200%)		7.489	%		7/20/35		15,040,000		15,145,202	(b)(c)
Blackbird Capital Aircraft, 2021-1A A		2.443	%		7/15/46		10,869,220		9,297,823	(b)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         61

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
ASSET-BACKED SECURITIES - (continued)
BlueMountain CLO Ltd., 2021-28A A (3 mo. Term SOFR + 1.522%)		6.830	%		4/15/34	$	10,470,000	$	10,363,173	(b)(c)
Brightwood Capital MM CLO Ltd., 2023-1A A1A (3 mo. Term SOFR + 2.750%)		8.151	%		10/15/35		4,610,000		4,610,000	(b)(c)
Canyon CLO Ltd., 2020-1A AR (3 mo. Term SOFR + 1.442%)		6.750	%		7/15/34		5,980,000		5,931,010	(b)(c)
Carlyle Global Market Strategies CLO Ltd., 2014-3RA A1A (3 mo. Term SOFR + 1.312%)		6.669	%		7/27/31		8,445,455		8,443,732	(b)(c)
Carlyle US CLO Ltd., 2018-2A A2 (3 mo. Term SOFR + 1.862%)		7.170	%		10/15/31		4,050,000		4,033,294	(b)(c)
Catskill Park CLO Ltd., 2017-1A A2 (3 mo. Term SOFR + 1.962%)		7.288	%		4/20/29		6,105,000		6,098,378	(b)(c)
Cayuga Park CLO Ltd., 2020-1A AR (3 mo. Term SOFR + 1.382%)		6.690	%		7/17/34		24,240,000		24,075,729	(b)(c)
CBAM Ltd., 2017-1A A1 (3 mo. Term SOFR + 1.512%)		6.838	%		7/20/30		870,932		871,620	(b)(c)
Cedar Funding CLO Ltd., 2016-5A AFRR		1.937	%		7/17/31		6,920,000		6,435,492	(b)
CIFC Funding Ltd., 2017-1A AR (3 mo. Term SOFR + 1.272%)		6.605	%		4/23/29		1,193,477		1,194,089	(b)(c)
College Ave Student Loans LLC, 2019-A A1 (1 mo. Term SOFR + 1.514%)		6.834	%		12/28/48		6,459,998		6,437,927	(b)(c)
College Ave Student Loans LLC, 2021-C C		3.060	%		7/26/55		3,163,000		2,688,544	(b)
Commonbond Student Loan Trust, 2020-1 A		1.690	%		10/25/51		4,877,784		4,114,644	(b)
Conseco Finance Corp., 1996-5 B1		8.100	%		7/15/26		56,226		24,495	(c)
Credit-Based Asset Servicing & Securitization LLC, 1999-3 A		0.000	%		2/3/29		617		495	(b)(c)
Dividend Solar Loans LLC, 2019-1 A		3.670	%		8/22/39		5,783,518		4,942,699	(b)
Domino’s Pizza Master Issuer LLC, 2018-1A A2II		4.328	%		7/25/48		1,309,687		1,219,324	(b)
Dryden CLO Ltd., 2021-87A A1 (3 mo. Term SOFR + 1.362%)		6.741	%		5/20/34		28,030,000		27,820,893	(b)(c)
ECMC Group Student Loan Trust, 2020-2A A (30 Day Average SOFR + 1.264%)		6.579	%		11/25/69		3,620,310		3,601,760	(b)(c)
Empower CLO Ltd., 2023-2A A1 (3 mo. Term SOFR + 2.200%)		7.540	%		7/15/36		10,100,000		10,122,653	(b)(c)
Enterprise Fleet Financing LLC, 2023-1 A2		5.510	%		1/22/29		4,310,000		4,276,301	(b)
Federal Home Loan Mortgage Corp. (FHLMC) Structured Pass-Through Certificates FRESR, 2017-SR01 A3		3.089	%		11/25/27		313,290		288,370
Federal National Mortgage Association (FNMA) Grantor Trust, 2017-T1 A		2.898	%		6/25/27		1,319,143		1,209,074

See Notes to Schedule of Investments.

    62     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
ASSET-BACKED SECURITIES - (continued)
Five Guys Funding LLC, 2017-1A A2		4.600	%		7/25/47	$	9,850,000	$	9,694,230	(b)
Ford Credit Auto Owner Trust, 2023-1 A		4.850	%		8/15/35		9,680,000		9,389,055	(b)
Ford Credit Floorplan Master Owner Trust, 2018-4 A		4.060	%		11/15/30		21,335,000		19,867,152
Ford Credit Floorplan Master Owner Trust, 2023-1 A1		4.920	%		5/15/28		12,320,000		12,105,099	(b)
Fortress Credit BSL Ltd., 2019-1A A2 (3 mo. Term SOFR + 2.262%)		7.607	%		7/23/32		6,717,000		6,726,865	(b)(c)
GoldenTree Loan Management US CLO Ltd., 2019-4A AR (3 mo. Term SOFR + 1.372%)		6.717	%		4/24/31		4,350,000		4,348,980	(b)(c)
GoldenTree Loan Management US CLO Ltd., 2021-10A A (3 mo. Term SOFR + 1.362%)		6.688	%		7/20/34		6,590,000		6,581,445	(b)(c)
GoldenTree Loan Opportunities Ltd., 2014-9A BR2 (3 mo. Term SOFR + 1.862%)		7.231	%		10/29/29		6,390,000		6,400,462	(b)(c)
Golub Capital Partners CLO Ltd., 2015-25A AR (3 mo. Term SOFR + 1.642%)		7.011	%		5/5/30		8,195,911		8,183,122	(b)(c)
Golub Capital Partners CLO Ltd., 2019-41A AR (3 mo. Term SOFR + 1.582%)		6.908	%		1/20/34		6,170,000		6,169,837	(b)(c)
Golub Capital Partners CLO Ltd., 2019-45A A (3 mo. Term SOFR + 1.982%)		7.308	%		10/20/31		10,568,000		10,589,514	(b)(c)
Golub Capital Partners CLO Ltd., 2020-47A C1 (3 mo. Term SOFR + 3.512%)		8.881	%		5/5/32		1,250,000		1,227,803	(b)(c)
Golub Capital Partners CLO Ltd., 2021-57A A1 (3 mo. Term SOFR + 1.752%)		7.103	%		10/25/34		11,580,000		11,429,374	(b)(c)
Golub Capital Partners CLO Ltd., 2023-66A A (3 mo. Term SOFR + 1.950%)		6.926	%		4/25/36		5,790,000		5,802,823	(b)(c)
Goodgreen Trust, 2017-2A A		3.260	%		10/15/53		678,187		602,778	(b)
Goodgreen Trust, 2019-2A A		2.760	%		4/15/55		3,912,663		3,305,031	(b)
Great Lakes Kcap F3c Senior LLC, 2017-1A A (3 mo. Term SOFR + 2.162%)		7.559	%		12/20/29		7,309,033		7,324,073	(b)(c)
Greenwood Park CLO Ltd., 2018-1A A2 (3 mo. Term SOFR + 1.272%)		6.580	%		4/15/31		6,680,000		6,675,257	(b)(c)
Greywolf CLO Ltd., 2015-1A A1R (3 mo. Term SOFR + 1.422%)		6.773	%		1/27/31		15,000,000		14,979,360	(b)(c)
Grippen Park CLO Ltd., 2017-1A A (3 mo. Term SOFR + 1.522%)		6.848	%		1/20/30		4,675,815		4,674,268	(b)(c)
Halsey Point CLO Ltd., 2019-1A A1A1 (3 mo. Term SOFR + 1.612%)		6.938	%		1/20/33		1,420,000		1,417,922	(b)(c)
Halsey Point CLO Ltd., 2020-3A A1A (3 mo. Term SOFR + 1.712%)		7.081	%		11/30/32		4,900,000		4,901,371	(b)(c)
Hertz Vehicle Financing LLC, 2022-2A C		2.950	%		6/26/28		5,200,000		4,496,247	(b)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         63

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
ASSET-BACKED SECURITIES - (continued)
HGI CRE CLO Ltd., 2021-FL1 A (1 mo. Term SOFR + 1.164%)		6.495	%		6/16/36	$	2,654,744	$	2,615,852	(b)(c)
Hildene Community Funding CDO Ltd., 2015-1A ARR		2.600	%		11/1/35		21,796,549		17,961,311	(b)
Jack in the Box Funding LLC, 2022-1A A2I		3.445	%		2/26/52		14,191,100		12,748,755	(b)
JGWPT LLC, 2015-1A B		4.250	%		9/17/74		1,037,830		840,850	(b)
KKR CLO Ltd., 20 A (3 mo. Term SOFR + 1.392%)		6.700	%		10/16/30		5,544,565		5,537,057	(b)(c)
KKR CLO Ltd., 32A A1 (3 mo. Term SOFR + 1.582%)		6.890	%		1/15/32		2,230,000		2,225,808	(b)(c)
KREF Ltd., 2022-FL3 A (1 mo. Term SOFR + 1.450%)		6.777	%		2/17/39		13,010,000		12,872,966	(b)(c)
Loanpal Solar Loan Ltd., 2020-3GS A		2.470	%		12/20/47		7,839,441		5,923,747	(b)
Loanpal Solar Loan Ltd., 2021-1GS A		2.290	%		1/20/48		6,441,847		4,852,375	(b)
Long Beach Mortgage Loan Trust, 2000-1 AV1 (1 mo. Term SOFR + 0.634%)		5.959	%		1/21/31		9,650		9,570	(c)
Magnetite Ltd., 2015-14RA A2 (3 mo. Term SOFR + 1.382%)		6.692	%		10/18/31		6,370,000		6,373,777	(b)(c)
Magnetite Ltd., 2016-17A AR (3 mo. Term SOFR + 1.362%)		6.688	%		7/20/31		4,478,000		4,470,864	(b)(c)
MAPS Trust, 2021-1A A		2.521	%		6/15/46		6,389,329		5,557,630	(b)
Midocean Credit CLO, 2017-7A BR (3 mo. Term SOFR + 1.862%)		7.170	%		7/15/29		4,000,000		3,991,295	(b)(c)
Myers Park CLO Ltd., 2018-1A B1 (3 mo. Term SOFR + 1.862%)		7.188	%		10/20/30		6,090,000		6,042,558	(b)(c)
Navient Private Education Loan Trust, 2020-A A2B (1 mo. Term SOFR + 1.014%)		6.347	%		11/15/68		375,462		372,124	(b)(c)
Navient Private Education Refi Loan Trust, 2020-BA A2		2.120	%		1/15/69		6,232,730		5,656,184	(b)
Navient Student Loan Trust, 2017-3A A3 (30 Day Average SOFR + 1.164%)		6.479	%		7/26/66		8,990,748		8,928,875	(b)(c)
Nelnet Student Loan Trust, 2007-1 A4 (90 Day Average SOFR + 0.372%)		5.535	%		8/27/36		13,756,572		13,390,773	(c)
Nelnet Student Loan Trust, 2015-2A A2 (30 Day Average SOFR + 0.714%)		6.029	%		9/25/42		2,989,488		2,933,210	(b)(c)
Nelnet Student Loan Trust, 2021-A A2 (1 mo. Term SOFR + 1.144%)		6.469	%		4/20/62		12,321,000		12,165,991	(b)(c)
Ocean Trails CLO, 2020-10A AR (3 mo. Term SOFR + 1.482%)		6.790	%		10/15/34		11,745,000		11,610,141	(b)(c)
Ocean Trails CLO Ltd., 2023-14A A1 (3 mo. Term SOFR + 2.000%)		7.326	%		1/20/35		6,500,000		6,533,835	(b)(c)

See Notes to Schedule of Investments.

    64     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
ASSET-BACKED SECURITIES - (continued)
Octagon Investment Partners Ltd., 2014-1A AAR3 (3 mo. Term SOFR + 1.262%)		6.631	%		2/14/31	$	13,480,000	$	13,425,858	(b)(c)
Octagon Investment Partners Ltd., 2018-1A A1A (3 mo. Term SOFR + 1.322%)		6.648	%		1/20/31		16,850,030		16,817,325	(b)(c)
OHA Credit Funding Ltd., 2020-7A AR (3 mo. Term SOFR + 1.300%)		6.620	%		2/24/37		14,230,000		14,068,489	(b)(c)
OHA Loan Funding Ltd., 2013-2A AR (3 mo. Term SOFR + 1.302%)		6.679	%		5/23/31		5,291,250		5,291,649	(b)(c)
Owl Rock CLO Ltd., 2019-1A A (3 mo. Term SOFR + 2.062%)		7.441	%		5/20/31		3,059,086		3,061,463	(b)(c)
Owl Rock CLO Ltd., 2020-3A A1L (3 mo. Term SOFR + 2.062%)		7.388	%		4/20/32		13,250,000		13,228,758	(b)(c)
Palmer Square CLO Ltd., 2019-1A A1R (3 mo. Term SOFR + 1.412%)		6.781	%		11/14/34		17,020,000		16,929,754	(b)(c)
PEAR LLC, 2021-1 A		2.600	%		1/15/34		698,441		665,082	(b)
Point Au Roche Park CLO Ltd., 2021-1A A (3 mo. Term SOFR + 1.342%)		6.668	%		7/20/34		26,070,000		25,921,446	(b)(c)
RAAC Trust, 2007-RP1 A (1 mo. Term SOFR + 0.694%)		6.014	%		5/25/46		223,784		223,470	(b)(c)
Reese Park CLO Ltd., 2020-1A AR (3 mo. Term SOFR + 1.392%)		6.700	%		10/15/34		26,300,000		26,132,281	(b)(c)
Shackleton CLO Ltd., 2013-3A AR (3 mo. Term SOFR + 1.382%)		6.690	%		7/15/30		679,199		678,494	(b)(c)
Silver Rock CLO Ltd., 2020-1A A (3 mo. Term SOFR + 1.912%)		7.238	%		10/20/31		21,740,000		21,769,402	(b)(c)
SLM Private Education Loan Trust, 2010-C A5 (1 mo. Term SOFR + 4.864%)		10.197	%		10/15/41		7,005,298		7,409,872	(b)(c)
SMB Private Education Loan Trust, 2020- PTA B		2.500	%		9/15/54		10,000,000		7,789,414	(b)
SMB Private Education Loan Trust, 2021-A A2B		1.590	%		1/15/53		9,465,257		8,216,596	(b)
SMB Private Education Loan Trust, 2021-A B		2.310	%		1/15/53		15,500,000		14,109,890	(b)
SMB Private Education Loan Trust, 2021-B A		1.310	%		7/17/51		789,954		697,744	(b)
SMB Private Education Loan Trust, 2021-C A2 (1 mo. Term SOFR + 0.914%)		6.247	%		1/15/53		3,038,289		2,980,694	(b)(c)
SMB Private Education Loan Trust, 2021-C C		3.000	%		1/15/53		15,161,971		12,923,227	(b)
Sound Point CLO Ltd., 2018-2A A (3 mo. Term SOFR + 1.362%)		6.712	%		7/26/31		649,000		644,894	(b)(c)
SpringCastle America Funding LLC, 2020-AA A		1.970	%		9/25/37		953,198		865,822	(b)

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         65

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
ASSET-BACKED SECURITIES - (continued)
Structured Asset Investment Loan Trust, 2004-1 A3 (1 mo. Term SOFR + 0.914%)		6.234	%		2/25/34	$	2,064,629	$	2,009,207	(c)
STWD Ltd., 2022-FL3 A (30 Day Average SOFR + 1.350%)		6.663	%		11/15/38		3,850,000		3,774,935	(b)(c)
Sunrun Atlas Issuer LLC, 2019-2 A		3.610	%		2/1/55		3,570,027		3,108,115	(b)
THL Credit Lake Shore MM CLO Ltd., 2019-1A A1R (3 mo. Term SOFR + 1.962%)		7.270	%		4/15/33		6,500,000		6,435,939	(b)(c)
Thrust Engine Leasing, 2021-1A A		4.163	%		7/15/40		9,248,910		7,981,439	(b)
United States Small Business Administration, 2019-20D 1		2.980	%		4/1/39		1,352,061		1,197,930
United States Small Business Administration, 2019-25G 1		2.690	%		7/1/44		2,802,459		2,358,383
Voya CLO Ltd., 2016-3A A1R (3 mo. Term SOFR + 1.452%)		6.762	%		10/18/31		6,000,000		5,987,748	(b)(c)
Voya CLO Ltd., 2017-3A A1R (3 mo. Term SOFR + 1.302%)		6.628	%		4/20/34		4,150,000		4,114,913	(b)(c)
Voya CLO Ltd., 2018-3A A1A (3 mo. Term SOFR + 1.412%)		6.720	%		10/15/31		17,080,000		17,059,711	(b)(c)
Wachovia Student Loan Trust, 2006-1 A6 (90 Day Average SOFR + 0.432%)		5.486	%		4/25/40		878,383		849,361	(b)(c)
Whitebox CLO Ltd., 2019-1A ANAR (3 mo. Term SOFR + 1.392%)		6.737	%		7/24/32		10,800,000		10,785,136	(b)(c)
Whitebox CLO Ltd., 2020-2A A1R (3 mo. Term SOFR + 1.482%)		6.827	%		10/24/34		13,740,000		13,746,787	(b)(c)
Whitebox CLO Ltd., 2021-3A A1 (3 mo. Term SOFR + 1.482%)		6.790	%		10/15/34		18,250,000		18,108,563	(b)(c)
Whitebox CLO Ltd., 2023-4A A1 (3 mo. Term SOFR + 2.150%)		6.930	%		4/20/36		10,240,000		10,276,150	(b)(c)
Wingstop Funding LLC, 2020-1A A2		2.841	%		12/5/50		10,342,500		8,982,400	(b)
Woodmont Trust, 2023-12A A1A (3 mo. Term SOFR + 2.500%)		7.620	%		7/25/31		16,540,000		16,596,600	(b)(c)
ZAIS CLO Ltd., 2019-13A A1A (3 mo. Term SOFR + 1.752%)		7.060	%		7/15/32		8,934,400		8,936,281	(b)(c)
TOTAL ASSET-BACKED SECURITIES (Cost - $1,004,583,496)									973,365,402
SOVEREIGN BONDS - 2.4%
Brazil - 0.0%††
Brazilian Government International Bond, Senior Notes		5.000	%		1/27/45		6,170,000		4,582,860

See Notes to Schedule of Investments.

    66     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Chile - 0.0%††
Chile Government International Bond, Senior Notes		3.100	%		1/22/61	$	9,270,000	$	5,333,927
Colombia - 0.5%
Colombia Government International Bond, Senior Notes		3.125	%		4/15/31		14,920,000		11,075,952
Colombia Government International Bond, Senior Notes		3.250	%		4/22/32		28,210,000		20,336,389
Colombia Government International Bond, Senior Notes		4.125	%		2/22/42		15,000,000		9,122,591
Colombia Government International Bond, Senior Notes		5.625	%		2/26/44		444,000		319,038
Colombia Government International Bond, Senior Notes		5.000	%		6/15/45		10,959,000		7,218,943
Colombia Government International Bond, Senior Notes		5.200	%		5/15/49		26,102,000		17,197,448
Total Colombia									65,270,361
India - 0.1%
Export-Import Bank of India, Senior Notes		3.375	%		8/5/26		7,299,000		6,859,693	(b)
Indonesia - 0.0%††
Indonesia Government International Bond, Senior Notes		3.700	%		10/30/49		7,220,000		5,067,297
Israel - 0.3%
Israel Government International Bond, Senior Notes		2.750	%		7/3/30		26,680,000		22,719,834
Israel Government International Bond, Senior Notes		4.500	%		4/3/2120		11,700,000		8,455,871
State of Israel, Senior Notes		3.375	%		1/15/50		5,060,000		3,373,037
State of Israel, Senior Notes		3.800	%		5/13/60		3,000,000		2,007,273	(e)
Total Israel									36,556,015
Kazakhstan - 0.1%
Kazakhstan Government International Bond, Senior Notes		4.875	%		10/14/44		24,162,000		20,804,207	(b)
Mexico - 0.7%
Mexico Government International Bond, Senior Notes		2.659	%		5/24/31		8,882,000		7,030,402
Mexico Government International Bond, Senior Notes		6.050	%		1/11/40		100,000		92,661
Mexico Government International Bond, Senior Notes		4.750	%		3/8/44		48,464,000		37,324,322

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         67

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Mexico - (continued)
Mexico Government International Bond, Senior Notes		4.600	%		1/23/46	$	17,344,000	$	12,844,913
Mexico Government International Bond, Senior Notes		4.350	%		1/15/47		3,860,000		2,736,883
Mexico Government International Bond, Senior Notes		4.400	%		2/12/52		55,900,000		38,883,442
Total Mexico									98,912,623
Panama - 0.2%
Panama Government International Bond, Senior Notes		3.160	%		1/23/30		2,770,000		2,335,003
Panama Government International Bond, Senior Notes		4.500	%		4/16/50		14,480,000		9,897,880
Panama Government International Bond, Senior Notes		4.300	%		4/29/53		19,500,000		12,764,436
Panama Government International Bond, Senior Notes		4.500	%		4/1/56		3,900,000		2,578,546
Total Panama									27,575,865
Peru - 0.1%
Peruvian Government International Bond, Senior Notes		5.625	%		11/18/50		5,998,000		5,564,549
Peruvian Government International Bond, Senior Notes		3.550	%		3/10/51		410,000		271,086
Peruvian Government International Bond, Senior Notes		3.600	%		1/15/72		11,580,000		6,905,614
Total Peru									12,741,249
Uruguay - 0.4%
Uruguay Government International Bond, Senior Notes		4.375	%		1/23/31		7,446,073		7,136,873
Uruguay Government International Bond, Senior Notes		5.750	%		10/28/34		29,480,000		30,077,684
Uruguay Government International Bond, Senior Notes		7.625	%		3/21/36		3,150,000		3,623,512
Uruguay Government International Bond, Senior Notes		5.100	%		6/18/50		18,884,000		16,783,784
Total Uruguay									57,621,853
TOTAL SOVEREIGN BONDS (Cost - $446,823,531)									341,325,950
U.S. TREASURY INFLATION PROTECTED SECURITIES - 1.0%
U.S. Treasury Bonds, Inflation Indexed		1.500	%		2/15/53		1,892,219		1,567,279
U.S. Treasury Notes, Inflation Indexed		1.125	%		1/15/33		153,453,667		138,690,720	(k)
TOTAL U.S. TREASURY INFLATION PROTECTED SECURITIES (Cost - $154,091,955)									140,257,999

See Notes to Schedule of Investments.

    68     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT		VALUE
PURCHASED OPTIONS - 0.3%
EXCHANGE-TRADED PURCHASED OPTIONS - 0.3%
SOFR 1-Year Mid-Curve Futures, Put @ $97.000		10/13/23			5,748	$	14,370,000	$	22,848,300
SOFR 1-Year Mid-Curve Futures, Put @ $95.875		12/15/23			2,451		6,127,500		3,584,587
SOFR 1-Year Mid-Curve Futures, Put @ $96.000		12/15/23			5,768		14,420,000		9,877,700
U.S. Treasury 5-Year Notes Futures, Call @ $105.250		10/6/23			185		185,000		62,149
U.S. Treasury 5-Year Notes Futures, Call @ $105.250		10/27/23			370		370,000		228,360
U.S. Treasury 5-Year Notes Futures, Call @ $105.500		10/27/23			91		91,000		44,789
U.S. Treasury 5-Year Notes Futures, Call @ $106.000		10/27/23			2,883		2,883,000		878,415
U.S. Treasury 5-Year Notes Futures, Call @ $106.250		10/27/23			997		997,000		233,672
U.S. Treasury 5-Year Notes Futures, Call @ $106.500		10/27/23			370		370,000		66,485
U.S. Treasury 10-Year Notes Futures, Call @ $108.250		10/27/23			185		185,000		144,531
U.S. Treasury 10-Year Notes Futures, Call @ $108.500		10/27/23			123		123,000		82,641
U.S. Treasury 10-Year Notes Futures, Call @ $110.500		10/27/23			123		123,000		19,219
U.S. Treasury Long-Term Bonds Futures, Call @ $119.000		10/27/23			494		494,000		131,219
U.S. Treasury Long-Term Bonds Futures, Call @ $120.000		10/27/23			123		123,000		23,062
TOTAL PURCHASED OPTIONS (Cost - $18,003,095)									38,225,129
	RATE			MATURITY DATE		FACE AMOUNT
MUNICIPAL BONDS - 0.0%††
Illinois - 0.0%††
Chicago, IL, GO, Taxable Project, Series B, Refunding		6.314	%		1/1/44		3,000		2,717

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         69

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT		VALUE
Ohio - 0.0%††
American Municipal Power-Ohio Inc., OH, Revenue, Series B, Taxable-combined Hydroelectric Projects Build America Bonds		7.834	%		2/15/41	$	134,000	$	157,396
TOTAL MUNICIPAL BONDS (Cost - $183,939)									160,113
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $16,772,854,953)									14,625,011,030
						SHARES
SHORT-TERM INVESTMENTS - 2.2%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $310,387,834)		5.259	%				310,387,834		310,387,834	(l)(m)
TOTAL INVESTMENTS - 105.3% (Cost - $17,083,242,787)									14,935,398,864
Liabilities in Excess of Other Assets - (5.3)%									(748,166,126	)
TOTAL NET ASSETS - 100.0%								$	14,187,232,738

See Notes to Schedule of Investments.

    70     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

†† Represents less than 0.1%.

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

(b) 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.

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

(e) 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.

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

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

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

(i) This security is traded on a to-be-announced (“TBA”) basis. At September 30, 2023, the Fund held TBA securities with a total cost of $679,867,010.

(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) All or a portion of this security is held at the broker as collateral for open futures contracts and exchange-traded options.

(l) 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 September 30, 2023, the total market value of investments in Affiliated Companies was $316,382,700 and the cost was $316,387,834 (Note 2).

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

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         71

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

Abbreviation(s) used in this schedule:
ACES	—	Alternative Credit Enhancement Securities
CAS	—	Connecticut Avenue Securities
CDO	—	Collateralized Debt Obligation
CLO	—	Collateralized Loan Obligation
CMT	—	Constant Maturity Treasury
GO	—	General Obligation
GTD	—	Guaranteed
IBOR	—	Interbank Offered Rate
ICE	—	Intercontinental Exchange
IO	—	Interest Only
JSC	—	Joint Stock Company
LIBOR	—	London Interbank Offered Rate
PAC	—	Planned Amortization Class
PO	—	Principal Only
REMIC	—	Real Estate Mortgage Investment Conduit
SOFR	—	Secured Overnight Financing Rate
STRIPS	—	Separate Trading of Registered Interest and Principal Securities
USD	—	United States Dollar

At September 30, 2023, the Fund had the following written options contracts:

EXCHANGE-TRADED WRITTEN OPTIONS

SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT		VALUE
SOFR 1-Year Mid-Curve Futures, Put		10/13/23	$	96.250		5,748	$	14,370,000	$	(12,106,725	)
SOFR 1-Year Mid-Curve Futures, Put		10/13/23		96.500		5,748		14,370,000		(15,663,300	)
SOFR 1-Year Mid-Curve Futures, Put		12/15/23		95.250		4,902		12,255,000		(2,359,087	)
SOFR 1-Year Mid-Curve Futures, Put		12/15/23		95.375		11,536		28,840,000		(7,282,100	)
U.S. Treasury 5-Year Notes Futures, Call		10/27/23		106.750		737		737,000		(97,883	)
U.S. Treasury 5-Year Notes Futures, Call		10/27/23		107.000		123		123,000		(12,492	)
U.S. Treasury 5-Year Notes Futures, Call		10/27/23		107.500		611		611,000		(38,187	)
U.S. Treasury 5-Year Notes Futures, Put		10/27/23		106.000		246		246,000		(232,547	)
U.S. Treasury 10-Year Notes Futures, Call		10/27/23		109.000		185		185,000		(86,719	)
U.S. Treasury 10-Year Notes Futures, Call		10/27/23		109.500		613		613,000		(201,141	)
U.S. Treasury 10-Year Notes Futures, Call		10/27/23		111.000		738		738,000		(80,719	)

See Notes to Schedule of Investments.

    72     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

SECURITY	EXPIRATION DATE		STRIKE PRICE		CONTRACTS		NOTIONAL AMOUNT		VALUE
U.S. Treasury 10-Year Notes Futures, Call		10/27/23	$	112.000		123	$	123,000	$	(5,766	)
U.S. Treasury 10-Year Notes Futures, Call		10/27/23		112.500		612		612,000		(19,125	)
U.S. Treasury 10-Year Notes Futures, Call		10/27/23		113.000		735		735,000		(22,969	)
U.S. Treasury 10-Year Notes Futures, Call		11/24/23		109.000		186		186,000		(156,937	)
U.S. Treasury 10-Year Notes Futures, Put		10/27/23		108.000		616		616,000		(519,750	)
U.S. Treasury 10-Year Notes Futures, Put		10/27/23		109.000		123		123,000		(172,969	)
U.S. Treasury Long-Term Bonds Futures, Call		10/6/23		115.000		124		124,000		(52,312	)
U.S. Treasury Long-Term Bonds Futures, Call		10/27/23		115.000		62		62,000		(79,437	)
U.S. Treasury Long-Term Bonds Futures, Call		10/27/23		116.000		309		309,000		(280,031	)
U.S. Treasury Long-Term Bonds Futures, Call		10/27/23		117.000		599		599,000		(365,016	)
U.S. Treasury Long-Term Bonds Futures, Call		10/27/23		118.000		50		50,000		(20,313	)
U.S. Treasury Long-Term Bonds Futures, Put		10/27/23		111.000		1,098		1,098,000		(943,594	)
U.S. Treasury Long-Term Bonds Futures, Put		10/27/23		116.000		369		369,000		(1,153,125	)
U.S. Treasury Long-Term Bonds Futures, Put		10/27/23		118.000		370		370,000		(1,705,469	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $17,993,247)									$	(43,657,713	)

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

At September 30, 2023, the Fund had the following open futures contracts:

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
3-Month SOFR		6,867		3/25	$	1,646,098,513	$	1,637,951,175	$	(8,147,338	)
3-Month SOFR		641		6/25		153,317,446		153,351,237		33,791

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         73

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy (continued)
3-Month SOFR		11,653		3/26	$	2,800,641,498	$	2,798,030,963	$	(2,610,535	)
U.S. Treasury 2-Year Notes		129		12/23		26,131,125		26,149,711		18,586
U.S. Treasury 5-Year Notes		29,554		12/23		3,139,142,323		3,113,791,116		(25,351,207	)
U.S. Treasury Long-Term Bonds		6,659		12/23		797,312,350		757,669,343		(39,643,007	)
U.S. Treasury Ultra 10-Year Notes		1,363		12/23		156,321,421		152,059,688		(4,261,733	)
U.S. Treasury Ultra Long-Term Bonds		4,195		12/23		532,021,325		497,894,063		(34,127,262	)
										(114,088,705	)
Contracts to Sell:
30-Day Federal Funds		620		10/23		244,582,658		244,591,482		(8,824	)
3-Month SOFR		11,600		12/23		2,746,588,327		2,744,270,000		2,318,327
3-Month SOFR		13,768		3/24		3,279,842,122		3,254,411,000		25,431,122
3-Month SOFR		8,769		6/24		2,075,048,458		2,074,416,562		631,896
U.S. Treasury 10-Year Notes		32,584		12/23		3,584,542,108		3,521,108,500		63,433,608
										91,806,129
Net unrealized depreciation on open futures contracts									$	(22,282,576	)

Abbreviation(s) used in this table:

SOFR — Secured Overnight Financing Rate

At September 30, 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)
		$3,554,814,000		1/31/24	5.410%**	Daily U.S. Federal Funds Intraday Effective Rate**	$131,394		—	$	131,394

See Notes to Schedule of Investments.

    74     Western Asset Core Bond Fund 2023 Quarterly Report

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 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)
	$	461,342,000		9/30/24	Daily SOFR Compound annually	3.500% annually	$(8,650,886)	$	131,567		$	(8,782,453	)
		789,540,000		2/29/28	Daily SOFR Compound annually	4.000% annually	(11,021,775)		(142,638	)		(10,879,137	)
		1,213,350,000		2/29/28	Daily SOFR Compound annually	4.180% annually	(8,540,189)		913,940			(9,454,129	)
		175,011,000		2/15/29	2.850% annually	Daily SOFR Compound annually	12,551,544		(300,324	)		12,851,868
		71,759,000		4/30/29	3.270% annually	Daily SOFR Compound annually	3,811,924		838,672			2,973,252
		45,885,000		6/30/29	3.850% annually	Daily SOFR Compound annually	1,145,612		(21,195	)		1,166,807
		122,577,000		9/30/29	3.250% annually	Daily SOFR Compound annually	6,925,723		66,762			6,858,961
		95,889,000		2/15/47	1.520% annually	Daily SOFR Compound annually	37,362,804		(618,885	)		37,981,689
		93,963,000		2/15/48	2.600% annually	Daily SOFR Compound annually	21,885,728		9,896,880			11,988,848
		229,780,000		2/15/48	3.050% annually	Daily SOFR Compound annually	37,876,468		8,761,574			29,114,894
		190,799,000		5/15/48	3.150% annually	Daily SOFR Compound annually	28,579,755		(33,823,164	)		62,402,919
		37,524,000		4/21/52	2.500% annually	Daily SOFR Compound annually	9,648,319		34,968			9,613,351
Total	$	7,082,233,000					$131,706,421	$	(14,261,843	)	$	145,968,264

See Notes to Schedule of Investments.

Western Asset Core Bond Fund 2023 Quarterly Report         75

WESTERN ASSET CORE BOND FUND

Schedule of investments (unaudited) (cont’d) September 30, 2023

OTC CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION1
SWAP COUNTERPARTY (REFERENCE ENTITY)	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS RECEIVED BY THE FUND†	MARKET VALUE3		UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED APPRECIATION
Bank of America N.A. (PrimeX.FRM.1), 4.420%, due 7/25/36	$	209,841		7/25/36	4.420% monthly	$	21,320	$	9,748	$	11,572	(a)(b)
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 DEPRECIATION
Markit CDX.NA.IG.41 Index	$	1,134,514,500		12/20/28	1.000% quarterly	$	13,589,637	$	14,943,217	$	(1,353,580	)

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

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

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

† Percentage shown is an annual percentage rate.

(a) Swap contract is valued using significant unobservable inputs (Note 1).

(b) Swap contract is valued in good faith in accordance with procedures approved by the Board of Directors (Note 1).

** One time payment made at termination date.

Abbreviation(s) used in this table:

SOFR — Secured Overnight Financing 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.

    76     Western Asset Core Bond Fund 2023 Quarterly Report

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Core 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

77

Notes to Schedule of Investments (unaudited) (continued)

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.

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)

78

Notes to Schedule of Investments (unaudited) (continued)

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		—	$	5,079,934,164		—	$	5,079,934,164
Mortgage-Backed Securities		—		5,035,489,524	$	1,203,238		5,036,692,762
Collateralized Mortgage Obligations		—		1,840,333,114		—		1,840,333,114
U.S. Government & Agency Obligations		—		1,174,716,397		—		1,174,716,397
Asset-Backed Securities		—		973,365,402		—		973,365,402
Sovereign Bonds		—		341,325,950		—		341,325,950
U.S. Treasury Inflation Protected Securities		—		140,257,999		—		140,257,999
Purchased Options	$	38,225,129		—		—		38,225,129
Municipal Bonds		—		160,113		—		160,113
Total Long-Term Investments		38,225,129		14,585,582,663		1,203,238		14,625,011,030
Short-Term Investments†		310,387,834		—		—		310,387,834
Total Investments	$	348,612,963	$	14,585,582,663	$	1,203,238	$	14,935,398,864
Other Financial Instruments:
Futures Contracts††	$	91,867,330		—		—	$	91,867,330
Centrally Cleared Interest Rate Swaps††		—	$	175,083,983		—		175,083,983
OTC Credit Default Swaps on Credit Indices - Sell Protection‡		—		—	$	21,320		21,320
Total Other Financial Instruments	$	91,867,330	$	175,083,983	$	21,320	$	266,972,633
Total	$	440,480,293	$	14,760,666,646	$	1,224,558	$	15,202,371,497

79

Notes to Schedule of Investments (unaudited) (continued)

LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Written Options	$	43,657,713		—		—	$	43,657,713
Futures Contracts††		114,149,906		—		—		114,149,906
Centrally Cleared Interest Rate Swaps††		—	$	29,115,719		—		29,115,719
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection††		—		1,353,580		—		1,353,580
Total	$	157,807,619	$	30,469,299		—	$	188,276,918

† 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.

2. Transactions with affiliated companies

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 Fund invested in Western Asset Premier Institutional Government Reserves, Premium Shares, an affiliated registered money market fund managed by Western Asset Management Company, LLC. Benefit Street Partners is a wholly-owned subsidiary of Franklin Resources, Inc. The following companies were considered affiliated companies for all or some portion of the period ended September 30, 2023. The following transactions were effected in such companies for the period ended September 30, 2023.

	Affiliate Value at December 31, 2022		Purchased				Sold
			Cost		Shares/ Face amount		Proceeds		Shares/ Face amount
Benefit Street Partners CLO Ltd., 2014-IVA ARRR	$	5,898,591		—		—		—		—
Western Asset Premier Institutional Government Reserves, Premium Shares		644,150,557	$	3,980,881,505		3,980,881,505	$	4,314,644,228		4,314,644,228
	$	650,049,148	$	3,980,881,505			$	4,314,644,228

80

Notes to Schedule of Investments (unaudited) (continued)

(cont’d)	Realized Gain (Loss)		Interest/ Dividend Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at September 30, 2023
Benefit Street Partners CLO Ltd., 2014-IVA ARRR		—	$	286,856	$	96,275	$	5,994,866
Western Asset Premier Institutional Government Reserves, Premium Shares		—		16,384,947		—		310,387,834
		—	$	16,671,803	$	96,275	$	316,382,700

81