Legg Mason Partners Variable Portfolios Ii NPORT-P Western Asset Core Plus VIT Portfolio (Mar 2024 report)

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
CORPORATE BONDS & NOTES - 31.7%
COMMUNICATION SERVICES - 3.4%
Diversified Telecommunication Services - 0.5%
AT&T Inc., Senior Notes		2.300	%		6/1/27		140,000	$	129,086
AT&T Inc., Senior Notes		2.550	%		12/1/33		210,000		168,275
AT&T Inc., Senior Notes		5.350	%		9/1/40		20,000		19,592
AT&T Inc., Senior Notes		5.550	%		8/15/41		10,000		10,091
AT&T Inc., Senior Notes		4.350	%		6/15/45		68,000		58,002
AT&T Inc., Senior Notes		3.550	%		9/15/55		96,000		67,180
AT&T Inc., Senior Notes		3.800	%		12/1/57		10,000		7,246
AT&T Inc., Senior Notes		3.650	%		9/15/59		30,000		20,904
Verizon Communications Inc., Senior Notes		2.625	%		8/15/26		230,000		217,977
Verizon Communications Inc., Senior Notes		3.000	%		3/22/27		20,000		18,958
Verizon Communications Inc., Senior Notes		2.100	%		3/22/28		80,000		72,048
Verizon Communications Inc., Senior Notes		4.329	%		9/21/28		144,000		140,838
Verizon Communications Inc., Senior Notes		3.875	%		2/8/29		50,000		47,885
Verizon Communications Inc., Senior Notes		3.150	%		3/22/30		60,000		54,263
Verizon Communications Inc., Senior Notes		1.750	%		1/20/31		80,000		64,963
Verizon Communications Inc., Senior Notes		2.550	%		3/21/31		162,000		138,443
Verizon Communications Inc., Senior Notes		4.500	%		8/10/33		70,000		66,967
Verizon Communications Inc., Senior Notes		5.250	%		3/16/37		100,000		101,155
Verizon Communications Inc., Senior Notes		2.650	%		11/20/40		80,000		56,406
Verizon Communications Inc., Senior Notes		3.400	%		3/22/41		250,000		195,519
Verizon Communications Inc., Senior Notes		3.850	%		11/1/42		10,000		8,231
Verizon Communications Inc., Senior Notes		4.125	%		8/15/46		50,000		41,976
Verizon Communications Inc., Senior Notes		4.862	%		8/21/46		10,000		9,396
Verizon Communications Inc., Senior Notes		5.500	%		3/16/47		10,000		10,283
Verizon Communications Inc., Senior Notes		4.000	%		3/22/50		30,000		24,276
Verizon Communications Inc., Senior Notes		2.875	%		11/20/50		30,000		19,611
Total Diversified Telecommunication Services									1,769,571
Entertainment - 0.2%
Walt Disney Co., Senior Notes		6.650	%		11/15/37		50,000		57,506
Warnermedia Holdings Inc., Senior Notes		6.412	%		3/15/26		20,000		20,000
Warnermedia Holdings Inc., Senior Notes		3.755	%		3/15/27		70,000		66,822
Warnermedia Holdings Inc., Senior Notes		4.054	%		3/15/29		90,000		84,279
Warnermedia Holdings Inc., Senior Notes		4.279	%		3/15/32		310,000		277,061
Warnermedia Holdings Inc., Senior Notes		5.050	%		3/15/42		30,000		25,799
Warnermedia Holdings Inc., Senior Notes		5.141	%		3/15/52		10,000		8,306
Total Entertainment									539,773

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      1

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Interactive Media & Services - 0.0%††
Alphabet Inc., Senior Notes		1.900	%		8/15/40		50,000	$	33,623
Media - 1.7%
CCO Holdings LLC/CCO Holdings Capital Corp., Senior Notes		4.750	%		2/1/32		1,440,000		1,176,607	(a)
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.908	%		7/23/25		40,000		39,524
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.200	%		3/15/28		80,000		75,439
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.050	%		3/30/29		100,000		96,474
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.400	%		4/1/33		570,000		505,476
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		4/1/38		240,000		208,634
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		3.500	%		3/1/42		400,000		267,160
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.375	%		5/1/47		10,000		8,064
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.750	%		4/1/48		30,000		25,282
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.125	%		7/1/49		40,000		31,027
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		4.800	%		3/1/50		170,000		125,948
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		6.834	%		10/23/55		30,000		28,818
Charter Communications Operating LLC/Charter Communications Operating Capital Corp., Senior Secured Notes		5.500	%		4/1/63		70,000		54,962
Comcast Corp., Senior Notes		3.150	%		3/1/26		80,000		77,491

See Notes to Schedule of Investments.

    2  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Media - (continued)
Comcast Corp., Senior Notes		3.300	%		4/1/27		40,000	$	38,278
Comcast Corp., Senior Notes		4.150	%		10/15/28		270,000		263,621
Comcast Corp., Senior Notes		3.400	%		4/1/30		50,000		46,254
Comcast Corp., Senior Notes		4.250	%		10/15/30		320,000		309,249
Comcast Corp., Senior Notes		3.250	%		11/1/39		10,000		7,845
Comcast Corp., Senior Notes		3.750	%		4/1/40		40,000		33,269
Comcast Corp., Senior Notes		3.400	%		7/15/46		10,000		7,474
Comcast Corp., Senior Notes		4.000	%		8/15/47		20,000		16,235
Comcast Corp., Senior Notes		3.969	%		11/1/47		610,000		490,722
Comcast Corp., Senior Notes		4.000	%		3/1/48		10,000		8,124
Comcast Corp., Senior Notes		3.999	%		11/1/49		185,000		149,907
Comcast Corp., Senior Notes		3.450	%		2/1/50		50,000		36,597
Comcast Corp., Senior Notes		2.800	%		1/15/51		60,000		38,422
Comcast Corp., Senior Notes		2.887	%		11/1/51		280,000		181,904
Comcast Corp., Senior Notes		4.049	%		11/1/52		440,000		354,383
Comcast Corp., Senior Notes		2.937	%		11/1/56		27,000		17,014
Comcast Corp., Senior Notes		4.950	%		10/15/58		20,000		18,738
DISH DBS Corp., Senior Notes		5.875	%		11/15/24		60,000		57,538
DISH DBS Corp., Senior Notes		7.750	%		7/1/26		30,000		20,111
DISH DBS Corp., Senior Notes		5.125	%		6/1/29		60,000		25,075
DISH DBS Corp., Senior Secured Notes		5.250	%		12/1/26		30,000		23,679	(a)
DISH DBS Corp., Senior Secured Notes		5.750	%		12/1/28		10,000		6,891	(a)
Fox Corp., Senior Notes		6.500	%		10/13/33		140,000		148,346
Fox Corp., Senior Notes		5.476	%		1/25/39		40,000		38,094
Time Warner Cable LLC, Senior Secured Notes		6.550	%		5/1/37		160,000		151,353
Time Warner Cable LLC, Senior Secured Notes		7.300	%		7/1/38		10,000		10,109
Time Warner Cable LLC, Senior Secured Notes		5.875	%		11/15/40		90,000		78,035
Virgin Media Secured Finance PLC, Senior Secured Notes		5.500	%		5/15/29		210,000		194,319	(a)
Total Media									5,492,492
Wireless Telecommunication Services - 1.0%
CSC Holdings LLC, Senior Notes		4.500	%		11/15/31		1,500,000		1,063,360	(a)
Rogers Communications Inc., Senior Notes		5.300	%		2/15/34		180,000		178,462
Sprint Capital Corp., Senior Notes		8.750	%		3/15/32		60,000		72,795
Sprint LLC, Senior Notes		7.625	%		2/15/25		40,000		40,499
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/25		30,000		29,418
T-Mobile USA Inc., Senior Notes		2.250	%		2/15/26		20,000		18,938
T-Mobile USA Inc., Senior Notes		3.750	%		4/15/27		20,000		19,267
T-Mobile USA Inc., Senior Notes		2.625	%		2/15/29		60,000		53,750

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      3

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Wireless Telecommunication Services - (continued)
T-Mobile USA Inc., Senior Notes		3.375	%		4/15/29		60,000	$	55,538
T-Mobile USA Inc., Senior Notes		3.875	%		4/15/30		820,000		768,403
T-Mobile USA Inc., Senior Notes		2.550	%		2/15/31		50,000		42,610
T-Mobile USA Inc., Senior Notes		2.875	%		2/15/31		50,000		43,475
T-Mobile USA Inc., Senior Notes		3.500	%		4/15/31		130,000		117,518
T-Mobile USA Inc., Senior Notes		2.700	%		3/15/32		490,000		412,318
T-Mobile USA Inc., Senior Notes		5.150	%		4/15/34		120,000		119,645
T-Mobile USA Inc., Senior Notes		3.000	%		2/15/41		20,000		14,740
T-Mobile USA Inc., Senior Notes		3.400	%		10/15/52		160,000		113,588
Vmed O2 UK Financing I PLC, Senior Secured Notes		4.750	%		7/15/31		200,000		172,572	(a)
Total Wireless Telecommunication Services									3,336,896
TOTAL COMMUNICATION SERVICES									11,172,355
CONSUMER DISCRETIONARY - 2.8%
Automobiles - 0.9%
Ford Motor Co., Senior Notes		3.250	%		2/12/32		1,200,000		998,842
Ford Motor Co., Senior Notes		6.100	%		8/19/32		110,000		111,534
Ford Motor Co., Senior Notes		4.750	%		1/15/43		30,000		24,941
Ford Motor Credit Co. LLC, Senior Notes		4.950	%		5/28/27		200,000		195,236
Ford Motor Credit Co. LLC, Senior Notes		2.900	%		2/10/29		340,000		299,978
Ford Motor Credit Co. LLC, Senior Notes		4.000	%		11/13/30		420,000		375,323
General Motors Co., Senior Notes		6.125	%		10/1/25		60,000		60,530
General Motors Co., Senior Notes		5.600	%		10/15/32		100,000		101,236
General Motors Co., Senior Notes		6.600	%		4/1/36		10,000		10,640
Nissan Motor Co. Ltd., Senior Notes		3.522	%		9/17/25		530,000		511,117	(a)
Nissan Motor Co. Ltd., Senior Notes		4.345	%		9/17/27		340,000		323,420	(a)
Total Automobiles									3,012,797
Broadline Retail - 0.6%
Amazon.com Inc., Senior Notes		3.300	%		4/13/27		30,000		28,865
Amazon.com Inc., Senior Notes		1.200	%		6/3/27		300,000		269,791
Amazon.com Inc., Senior Notes		3.150	%		8/22/27		130,000		123,940
Amazon.com Inc., Senior Notes		3.450	%		4/13/29		70,000		66,853
Amazon.com Inc., Senior Notes		1.500	%		6/3/30		60,000		50,105
Amazon.com Inc., Senior Notes		3.600	%		4/13/32		350,000		326,101
Amazon.com Inc., Senior Notes		3.875	%		8/22/37		80,000		72,259
Amazon.com Inc., Senior Notes		4.950	%		12/5/44		50,000		50,100
Amazon.com Inc., Senior Notes		2.500	%		6/3/50		400,000		255,527
Amazon.com Inc., Senior Notes		3.100	%		5/12/51		190,000		136,570

See Notes to Schedule of Investments.

    4  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Broadline Retail - (continued)
Amazon.com Inc., Senior Notes		4.250	%		8/22/57		20,000	$	17,428
Prosus NV, Senior Notes		3.061	%		7/13/31		600,000		488,645	(a)
Total Broadline Retail									1,886,184
Hotels, Restaurants & Leisure - 1.0%
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.875	%		1/15/28		30,000		28,216	(a)
1011778 BC ULC/New Red Finance Inc., Senior Secured Notes		3.500	%		2/15/29		30,000		27,424	(a)
Caesars Entertainment Inc., Senior Secured Notes		7.000	%		2/15/30		40,000		41,084	(a)
Caesars Entertainment Inc., Senior Secured Notes		6.500	%		2/15/32		30,000		30,283	(a)
Hilton Domestic Operating Co. Inc., Senior Notes		6.125	%		4/1/32		80,000		80,391	(a)
Las Vegas Sands Corp., Senior Notes		3.200	%		8/8/24		350,000		346,374
Las Vegas Sands Corp., Senior Notes		2.900	%		6/25/25		360,000		346,588
Las Vegas Sands Corp., Senior Notes		3.900	%		8/8/29		50,000		45,537
McDonald’s Corp., Senior Notes		1.450	%		9/1/25		10,000		9,493
McDonald’s Corp., Senior Notes		3.700	%		1/30/26		150,000		146,842
McDonald’s Corp., Senior Notes		3.500	%		3/1/27		20,000		19,323
McDonald’s Corp., Senior Notes		3.500	%		7/1/27		90,000		86,304
McDonald’s Corp., Senior Notes		3.600	%		7/1/30		250,000		233,294
McDonald’s Corp., Senior Notes		3.625	%		9/1/49		10,000		7,602
McDonald’s Corp., Senior Notes		4.200	%		4/1/50		310,000		259,192
NCL Corp. Ltd., Senior Secured Notes		8.125	%		1/15/29		140,000		148,238	(a)
Royal Caribbean Cruises Ltd., Senior Notes		6.250	%		3/15/32		100,000		100,859	(a)
Sands China Ltd., Senior Notes		5.125	%		8/8/25		630,000		621,885
Sands China Ltd., Senior Notes		4.050	%		1/8/26		200,000		192,768
Sands China Ltd., Senior Notes		2.300	%		3/8/27		200,000		181,263
Sands China Ltd., Senior Notes		2.850	%		3/8/29		200,000		173,958
VOC Escrow Ltd., Senior Secured Notes		5.000	%		2/15/28		80,000		77,023	(a)
Total Hotels, Restaurants & Leisure									3,203,941
Household Durables - 0.0%††
Lennar Corp., Senior Notes		4.500	%		4/30/24		160,000		159,821
Specialty Retail - 0.2%
Home Depot Inc., Senior Notes		2.500	%		4/15/27		60,000		56,248
Home Depot Inc., Senior Notes		3.900	%		12/6/28		10,000		9,714
Home Depot Inc., Senior Notes		2.700	%		4/15/30		190,000		169,328
Home Depot Inc., Senior Notes		3.300	%		4/15/40		230,000		183,038

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      5

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Specialty Retail - (continued)
Home Depot Inc., Senior Notes		3.900	%		6/15/47		10,000	$	8,181
Home Depot Inc., Senior Notes		3.350	%		4/15/50		60,000		44,088
Lowe’s Cos. Inc., Senior Notes		4.500	%		4/15/30		40,000		39,132
Lowe’s Cos. Inc., Senior Notes		4.250	%		4/1/52		110,000		90,219
Total Specialty Retail									599,948
Textiles, Apparel & Luxury Goods - 0.1%
NIKE Inc., Senior Notes		2.750	%		3/27/27		70,000		66,299
NIKE Inc., Senior Notes		2.850	%		3/27/30		160,000		144,657
NIKE Inc., Senior Notes		3.250	%		3/27/40		40,000		32,240
NIKE Inc., Senior Notes		3.375	%		3/27/50		50,000		37,866
Total Textiles, Apparel & Luxury Goods									281,062
TOTAL CONSUMER DISCRETIONARY									9,143,753
CONSUMER STAPLES - 1.2%
Beverages - 0.4%
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.650	%		2/1/26		149,000		145,680
Anheuser-Busch Cos. LLC/Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.900	%		2/1/46		380,000		361,354
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.000	%		4/13/28		70,000		68,311
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.750	%		1/23/29		90,000		90,017
Anheuser-Busch InBev Worldwide Inc., Senior Notes		3.500	%		6/1/30		40,000		37,277
Anheuser-Busch InBev Worldwide Inc., Senior Notes		4.350	%		6/1/40		100,000		90,621
Anheuser-Busch InBev Worldwide Inc., Senior Notes		5.550	%		1/23/49		240,000		250,402
Constellation Brands Inc., Senior Notes		3.600	%		5/9/24		50,000		49,882
Constellation Brands Inc., Senior Notes		4.350	%		5/9/27		70,000		68,573
Constellation Brands Inc., Senior Notes		2.250	%		8/1/31		90,000		74,387
PepsiCo Inc., Senior Notes		2.625	%		3/19/27		10,000		9,433
Total Beverages									1,245,937
Consumer Staples Distribution & Retail - 0.0%††
Costco Wholesale Corp., Senior Notes		1.600	%		4/20/30		90,000		75,798
Walmart Inc., Senior Notes		1.500	%		9/22/28		50,000		44,193
Walmart Inc., Senior Notes		1.800	%		9/22/31		20,000		16,613
Total Consumer Staples Distribution & Retail									136,604

See Notes to Schedule of Investments.

    6  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Food Products - 0.1%
Kraft Heinz Foods Co., Senior Notes		5.200	%		7/15/45		80,000	$	75,881
Mondelez International Inc., Senior Notes		1.500	%		5/4/25		160,000		153,458
Total Food Products									229,339
Personal Care Products - 0.1%
Haleon US Capital LLC, Senior Notes		3.375	%		3/24/29		260,000		241,928
Kenvue Inc., Senior Notes		4.900	%		3/22/33		210,000		209,976
Total Personal Care Products									451,904
Tobacco - 0.6%
Altria Group Inc., Senior Notes		2.350	%		5/6/25		20,000		19,362
Altria Group Inc., Senior Notes		4.800	%		2/14/29		13,000		12,880
Altria Group Inc., Senior Notes		2.450	%		2/4/32		460,000		373,457
Altria Group Inc., Senior Notes		6.875	%		11/1/33		330,000		359,199
Altria Group Inc., Senior Notes		3.875	%		9/16/46		40,000		29,993
Altria Group Inc., Senior Notes		5.950	%		2/14/49		340,000		346,323
BAT Capital Corp., Senior Notes		3.557	%		8/15/27		40,000		37,890
BAT Capital Corp., Senior Notes		4.540	%		8/15/47		450,000		347,746
Philip Morris International Inc., Senior Notes		4.875	%		2/13/29		90,000		89,488
Philip Morris International Inc., Senior Notes		2.100	%		5/1/30		200,000		170,053
Philip Morris International Inc., Senior Notes		5.125	%		2/13/31		20,000		19,878
Philip Morris International Inc., Senior Notes		5.250	%		2/13/34		60,000		59,496
Philip Morris International Inc., Senior Notes		4.500	%		3/20/42		10,000		8,748
Reynolds American Inc., Senior Notes		5.850	%		8/15/45		80,000		74,283
Total Tobacco									1,948,796
TOTAL CONSUMER STAPLES									4,012,580
ENERGY - 5.7%
Energy Equipment & Services - 0.0%††
Halliburton Co., Senior Notes		4.850	%		11/15/35		20,000		19,464
Halliburton Co., Senior Notes		5.000	%		11/15/45		10,000		9,396
Total Energy Equipment & Services									28,860
Oil, Gas & Consumable Fuels - 5.7%
Apache Corp., Senior Notes		7.750	%		12/15/29		40,000		43,407
Apache Corp., Senior Notes		5.100	%		9/1/40		160,000		137,416
Apache Corp., Senior Notes		5.250	%		2/1/42		10,000		8,445
Apache Corp., Senior Notes		4.750	%		4/15/43		10,000		7,891
Apache Corp., Senior Notes		4.250	%		1/15/44		90,000		64,516
Apache Corp., Senior Notes		5.350	%		7/1/49		40,000		33,843
BP Capital Markets America Inc., Senior Notes		3.410	%		2/11/26		120,000		116,714
BP Capital Markets America Inc., Senior Notes		3.633	%		4/6/30		170,000		160,232
BP Capital Markets America Inc., Senior Notes		3.000	%		2/24/50		250,000		170,703

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      7

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Cameron LNG LLC, Senior Secured Notes		2.902	%		7/15/31		20,000	$	17,180	(a)
Cameron LNG LLC, Senior Secured Notes		3.302	%		1/15/35		440,000		366,421	(a)
Cheniere Energy Inc., Senior Notes		4.625	%		10/15/28		1,020,000		989,287
Cheniere Energy Partners LP, Senior Notes		4.000	%		3/1/31		20,000		18,196
Cheniere Energy Partners LP, Senior Notes		3.250	%		1/31/32		120,000		102,315
Chevron Corp., Senior Notes		3.078	%		5/11/50		10,000		7,189
Columbia Pipelines Operating Co. LLC, Senior Notes		6.036	%		11/15/33		400,000		414,644	(a)
Columbia Pipelines Operating Co. LLC, Senior Notes		6.544	%		11/15/53		60,000		65,060	(a)
Continental Resources Inc., Senior Notes		3.800	%		6/1/24		40,000		39,842
Continental Resources Inc., Senior Notes		2.268	%		11/15/26		160,000		147,333	(a)
Continental Resources Inc., Senior Notes		4.375	%		1/15/28		120,000		116,006
Continental Resources Inc., Senior Notes		5.750	%		1/15/31		350,000		348,140	(a)
Continental Resources Inc., Senior Notes		4.900	%		6/1/44		120,000		99,842
Coterra Energy Inc., Senior Notes		3.900	%		5/15/27		70,000		67,402
Coterra Energy Inc., Senior Notes		4.375	%		3/15/29		110,000		105,998
DCP Midstream Operating LP, Senior Notes		6.450	%		11/3/36		20,000		20,955	(a)
Devon Energy Corp., Senior Notes		5.850	%		12/15/25		10,000		10,059
Devon Energy Corp., Senior Notes		4.500	%		1/15/30		40,000		38,582
Devon Energy Corp., Senior Notes		5.600	%		7/15/41		160,000		154,376
Devon Energy Corp., Senior Notes		4.750	%		5/15/42		30,000		26,136
Devon Energy Corp., Senior Notes		5.000	%		6/15/45		510,000		452,979
Diamondback Energy Inc., Senior Notes		3.500	%		12/1/29		270,000		249,864
Diamondback Energy Inc., Senior Notes		4.400	%		3/24/51		140,000		116,082
Ecopetrol SA, Senior Notes		5.875	%		5/28/45		510,000		381,177
Energy Transfer LP, Junior Subordinated Notes (3 mo. Term SOFR + 4.290%)		9.597	%		4/15/24		40,000		39,880	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (6.500% to 11/15/26 then 5 year Treasury Constant Maturity Rate + 5.694%)		6.500	%		11/15/26		50,000		49,132	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (6.750% to 5/15/25 then 5 year Treasury Constant Maturity Rate + 5.134%)		6.750	%		5/15/25		100,000		98,643	(b)(c)
Energy Transfer LP, Junior Subordinated Notes (7.125% to 5/15/30 then 5 year Treasury Constant Maturity Rate + 5.306%)		7.125	%		5/15/30		60,000		58,727	(b)(c)
Energy Transfer LP, Senior Notes		2.900	%		5/15/25		70,000		67,962
Energy Transfer LP, Senior Notes		4.950	%		6/15/28		40,000		39,695
Energy Transfer LP, Senior Notes		5.250	%		4/15/29		30,000		30,043

See Notes to Schedule of Investments.

    8  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Energy Transfer LP, Senior Notes		3.750	%		5/15/30		370,000	$	341,210
Energy Transfer LP, Senior Notes		5.550	%		5/15/34		140,000		140,514
Energy Transfer LP, Senior Notes		5.300	%		4/1/44		10,000		9,202
Energy Transfer LP, Senior Notes		5.400	%		10/1/47		10,000		9,236
Energy Transfer LP, Senior Notes		6.250	%		4/15/49		480,000		493,120
Energy Transfer LP, Senior Notes		5.000	%		5/15/50		160,000		140,486
Enterprise Products Operating LLC, Senior Notes		4.150	%		10/16/28		390,000		379,546
Enterprise Products Operating LLC, Senior Notes		3.125	%		7/31/29		30,000		27,685
Enterprise Products Operating LLC, Senior Notes		2.800	%		1/31/30		420,000		376,643
Enterprise Products Operating LLC, Senior Notes		4.850	%		1/31/34		320,000		315,342
Enterprise Products Operating LLC, Senior Notes		6.650	%		10/15/34		80,000		89,297
Enterprise Products Operating LLC, Senior Notes		7.550	%		4/15/38		20,000		24,006
Enterprise Products Operating LLC, Senior Notes		4.850	%		3/15/44		10,000		9,355
Enterprise Products Operating LLC, Senior Notes		3.700	%		1/31/51		310,000		239,800
Enterprise Products Operating LLC, Senior Notes		3.950	%		1/31/60		40,000		31,133
Enterprise Products Operating LLC, Senior Notes (5.375% to 2/15/28 then 3 mo. Term SOFR + 2.832%)		5.375	%		2/15/78		30,000		28,034	(c)
EOG Resources Inc., Senior Notes		4.375	%		4/15/30		10,000		9,790
EOG Resources Inc., Senior Notes		3.900	%		4/1/35		90,000		82,020
EOG Resources Inc., Senior Notes		4.950	%		4/15/50		210,000		199,917
EQT Corp., Senior Notes		6.125	%		2/1/25		6,000		6,011
EQT Corp., Senior Notes		3.900	%		10/1/27		310,000		294,889
EQT Corp., Senior Notes		5.000	%		1/15/29		200,000		196,110
EQT Corp., Senior Notes		3.625	%		5/15/31		100,000		88,090	(a)
Exxon Mobil Corp., Senior Notes		3.482	%		3/19/30		80,000		75,434
Exxon Mobil Corp., Senior Notes		4.114	%		3/1/46		40,000		34,523
Exxon Mobil Corp., Senior Notes		4.327	%		3/19/50		10,000		8,857
Exxon Mobil Corp., Senior Notes		3.452	%		4/15/51		310,000		235,037
KazMunayGas National Co. JSC, Senior Notes		5.375	%		4/24/30		200,000		196,590	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      9

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Kinder Morgan Energy Partners LP, Senior Notes		4.250	%		9/1/24		10,000	$	9,937
Kinder Morgan Energy Partners LP, Senior Notes		5.500	%		3/1/44		10,000		9,525
Kinder Morgan Inc., Senior Notes		4.300	%		6/1/25		60,000		59,165
Kinder Morgan Inc., Senior Notes		4.300	%		3/1/28		30,000		29,288
Kinder Morgan Inc., Senior Notes		7.750	%		1/15/32		40,000		45,428
Kinder Morgan Inc., Senior Notes		5.200	%		3/1/48		10,000		9,007
MEG Energy Corp., Senior Notes		5.875	%		2/1/29		20,000		19,670	(a)
MPLX LP, Senior Notes		4.800	%		2/15/29		10,000		9,882
MPLX LP, Senior Notes		2.650	%		8/15/30		110,000		94,666
MPLX LP, Senior Notes		4.500	%		4/15/38		120,000		106,618
MPLX LP, Senior Notes		4.700	%		4/15/48		70,000		59,755
MPLX LP, Senior Notes		5.500	%		2/15/49		60,000		57,156
Occidental Petroleum Corp., Senior Notes		6.950	%		7/1/24		46,000		46,098
Occidental Petroleum Corp., Senior Notes		5.550	%		3/15/26		10,000		10,043
Occidental Petroleum Corp., Senior Notes		3.400	%		4/15/26		90,000		86,867
Occidental Petroleum Corp., Senior Notes		3.000	%		2/15/27		50,000		46,931
Occidental Petroleum Corp., Senior Notes		3.500	%		8/15/29		10,000		9,076
Occidental Petroleum Corp., Senior Notes		7.875	%		9/15/31		70,000		79,401
Occidental Petroleum Corp., Senior Notes		6.450	%		9/15/36		140,000		149,365
Occidental Petroleum Corp., Senior Notes		6.200	%		3/15/40		70,000		71,875
Occidental Petroleum Corp., Senior Notes		4.625	%		6/15/45		70,000		56,719
Occidental Petroleum Corp., Senior Notes		6.600	%		3/15/46		180,000		194,109
Occidental Petroleum Corp., Senior Notes		4.400	%		4/15/46		70,000		57,151
Occidental Petroleum Corp., Senior Notes		4.100	%		2/15/47		70,000		52,882
Occidental Petroleum Corp., Senior Notes		4.200	%		3/15/48		50,000		38,669
ONEOK Inc., Senior Notes		5.550	%		11/1/26		80,000		80,758
ONEOK Inc., Senior Notes		5.800	%		11/1/30		130,000		134,030
ONEOK Inc., Senior Notes		6.050	%		9/1/33		170,000		177,384
ONEOK Inc., Senior Notes		6.625	%		9/1/53		270,000		297,769
Petrobras Global Finance BV, Senior Notes		5.299	%		1/27/25		794,000		786,960
Petrobras Global Finance BV, Senior Notes		7.375	%		1/17/27		170,000		176,841
Petrobras Global Finance BV, Senior Notes		6.900	%		3/19/49		30,000		29,122
Petrobras Global Finance BV, Senior Notes		6.850	%		6/5/2115		100,000		92,856
Petroleos Mexicanos, Senior Notes		6.875	%		8/4/26		150,000		145,693
Pioneer Natural Resources Co., Senior Notes		1.125	%		1/15/26		20,000		18,623
Pioneer Natural Resources Co., Senior Notes		1.900	%		8/15/30		30,000		25,220
Pioneer Natural Resources Co., Senior Notes		2.150	%		1/15/31		270,000		227,320

See Notes to Schedule of Investments.

    10  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Range Resources Corp., Senior Notes		4.750	%		2/15/30		40,000	$	37,328	(a)
Reliance Industries Ltd., Senior Notes		3.625	%		1/12/52		260,000		187,978	(a)
Shell International Finance BV, Senior Notes		2.750	%		4/6/30		80,000		71,978
Shell International Finance BV, Senior Notes		4.550	%		8/12/43		10,000		9,298
Shell International Finance BV, Senior Notes		4.375	%		5/11/45		170,000		152,135
Shell International Finance BV, Senior Notes		4.000	%		5/10/46		40,000		33,673
Shell International Finance BV, Senior Notes		3.250	%		4/6/50		360,000		261,598
Southern Natural Gas Co. LLC, Senior Notes		8.000	%		3/1/32		50,000		57,547
Southwestern Energy Co., Senior Notes		5.700	%		1/23/25		1,400,000		1,394,369
Southwestern Energy Co., Senior Notes		5.375	%		3/15/30		620,000		597,302
Southwestern Energy Co., Senior Notes		4.750	%		2/1/32		50,000		46,068
Targa Resources Corp., Senior Notes		4.200	%		2/1/33		80,000		72,978
Targa Resources Corp., Senior Notes		4.950	%		4/15/52		70,000		61,389
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.000	%		1/15/28		20,000		19,728
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		5.500	%		3/1/30		20,000		19,919
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.875	%		2/1/31		150,000		143,729
Targa Resources Partners LP/Targa Resources Partners Finance Corp., Senior Notes		4.000	%		1/15/32		10,000		9,009
Tennessee Gas Pipeline Co. LLC, Senior Notes		2.900	%		3/1/30		360,000		315,443	(a)
Transcontinental Gas Pipe Line Co. LLC, Senior Notes		7.850	%		2/1/26		210,000		217,948
Venture Global Calcasieu Pass LLC, Senior Secured Notes		3.875	%		11/1/33		60,000		51,022	(a)
Western Midstream Operating LP, Senior Notes		3.100	%		2/1/25		70,000		68,535
Western Midstream Operating LP, Senior Notes		4.500	%		3/1/28		20,000		19,342
Western Midstream Operating LP, Senior Notes		4.050	%		2/1/30		610,000		569,527
Western Midstream Operating LP, Senior Notes		5.300	%		3/1/48		10,000		8,781
Western Midstream Operating LP, Senior Notes		5.500	%		8/15/48		50,000		44,256
Western Midstream Operating LP, Senior Notes		5.250	%		2/1/50		50,000		44,758
Williams Cos. Inc., Senior Notes		3.750	%		6/15/27		200,000		192,529
Williams Cos. Inc., Senior Notes		3.500	%		11/15/30		40,000		36,381
Williams Cos. Inc., Senior Notes		7.500	%		1/15/31		30,000		33,457
Williams Cos. Inc., Senior Notes		7.750	%		6/15/31		160,000		177,600

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      11

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Oil, Gas & Consumable Fuels - (continued)
Williams Cos. Inc., Senior Notes		5.150	%		3/15/34		250,000	$	247,860
Williams Cos. Inc., Senior Notes		4.850	%		3/1/48		190,000		170,129
Total Oil, Gas & Consumable Fuels									18,539,644
TOTAL ENERGY									18,568,504
FINANCIALS - 10.4%
Banks - 6.7%
Banco Santander SA, Senior Notes		2.746	%		5/28/25		400,000		386,780
Bank of America Corp., Senior Notes		3.500	%		4/19/26		150,000		145,512
Bank of America Corp., Senior Notes		5.000	%		1/21/44		150,000		145,282
Bank of America Corp., Senior Notes (2.572% to 10/20/31 then SOFR + 1.210%)		2.572	%		10/20/32		240,000		199,190	(c)
Bank of America Corp., Senior Notes (2.592% to 4/29/30 then SOFR + 2.150%)		2.592	%		4/29/31		290,000		250,126	(c)
Bank of America Corp., Senior Notes (2.972% to 2/4/32 then SOFR + 1.330%)		2.972	%		2/4/33		500,000		425,365	(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		481,000		451,376	(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		130,000		123,604	(c)
Bank of America Corp., Senior Notes (3.841% to 4/25/24 then SOFR + 1.110%)		3.841	%		4/25/25		90,000		89,878	(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		50,000		40,986	(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		110,000		104,285	(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		430,000		352,871	(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		160,000		137,844	(c)
Bank of America Corp., Senior Notes (4.376% to 4/27/27 then SOFR + 1.580%)		4.376	%		4/27/28		750,000		732,430	(c)
Bank of America Corp., Senior Notes (4.571% to 4/27/32 then SOFR + 1.830%)		4.571	%		4/27/33		590,000		560,654	(c)
Bank of America Corp., Subordinated Notes		4.000	%		1/22/25		130,000		128,308
Bank of America Corp., Subordinated Notes		4.450	%		3/3/26		40,000		39,423
Bank of America Corp., Subordinated Notes		4.250	%		10/22/26		700,000		685,028
Bank of Montreal, Senior Notes		1.850	%		5/1/25		160,000		154,126
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		30,000		28,001	(c)

See Notes to Schedule of Investments.

    12  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Bank of Nova Scotia, Senior Notes		1.300	%		6/11/25		80,000	$	76,305
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		200,000		181,457	(c)
BNP Paribas SA, Junior Subordinated Notes (8.000% to 8/22/31 then 5 year Treasury Constant Maturity Rate + 3.727%)		8.000	%		8/22/31		240,000		245,551	(a)(b)(c)
BNP Paribas SA, Junior Subordinated Notes (8.500% to 8/14/28 then 5 year Treasury Constant Maturity Rate + 4.354%)		8.500	%		8/14/28		200,000		209,550	(a)(b)(c)
BNP Paribas SA, Senior Notes (2.219% to 6/9/25 then SOFR + 2.074%)		2.219	%		6/9/26		600,000		577,122	(a)(c)
BNP Paribas SA, Senior Notes (5.125% to 1/13/28 then 1 year Treasury Constant Maturity Rate + 1.450%)		5.125	%		1/13/29		490,000		489,436	(a)(c)
BNP Paribas SA, Senior Notes (5.894% to 12/5/33 then SOFR + 1.866%)		5.894	%		12/5/34		240,000		251,063	(a)(c)
BNP Paribas SA, Subordinated Notes		4.625	%		3/13/27		200,000		195,223	(a)
Citigroup Inc., Junior Subordinated Notes (6.300% to 5/15/24 then 3 mo. Term SOFR + 3.685%)		6.300	%		5/15/24		20,000		19,996	(b)(c)
Citigroup Inc., Senior Notes		8.125	%		7/15/39		37,000		47,377
Citigroup Inc., Senior Notes		4.650	%		7/30/45		275,000		248,601
Citigroup Inc., Senior Notes (2.520% to 11/3/31 then SOFR + 1.177%)		2.520	%		11/3/32		660,000		541,540	(c)
Citigroup Inc., Senior Notes (2.572% to 6/3/30 then SOFR + 2.107%)		2.572	%		6/3/31		430,000		367,556	(c)
Citigroup Inc., Senior Notes (3.106% to 4/8/25 then SOFR + 2.842%)		3.106	%		4/8/26		70,000		68,246	(c)
Citigroup Inc., Senior Notes (3.785% to 3/17/32 then SOFR + 1.939%)		3.785	%		3/17/33		630,000		563,025	(c)
Citigroup Inc., Senior Notes (4.412% to 3/31/30 then SOFR + 3.914%)		4.412	%		3/31/31		110,000		104,888	(c)
Citigroup Inc., Senior Notes (4.658% to 5/24/27 then SOFR + 1.887%)		4.658	%		5/24/28		120,000		118,232	(c)
Citigroup Inc., Senior Notes (4.910% to 5/24/32 then SOFR + 2.086%)		4.910	%		5/24/33		110,000		106,091	(c)
Citigroup Inc., Subordinated Notes		4.400	%		6/10/25		10,000		9,864
Citigroup Inc., Subordinated Notes		4.300	%		11/20/26		80,000		78,104
Citigroup Inc., Subordinated Notes		4.450	%		9/29/27		570,000		554,654
Citigroup Inc., Subordinated Notes		4.125	%		7/25/28		170,000		163,018

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      13

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Citigroup Inc., Subordinated Notes		5.300	%		5/6/44		13,000	$	12,640
Citigroup Inc., Subordinated Notes		4.750	%		5/18/46		70,000		62,205
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		510,000		455,344	(a)(c)
Credit Agricole SA, Senior Notes (1.907% to 6/16/25 then SOFR + 1.676%)		1.907	%		6/16/26		250,000		239,088	(a)(c)
Danske Bank A/S, Senior Notes (3.244% to 12/20/24 then 3 mo. USD LIBOR + 1.591%)		3.244	%		12/20/25		200,000		196,072	(a)(c)
Danske Bank A/S, Senior Notes (4.298% to 4/1/27 then 1 year Treasury Constant Maturity Rate + 1.750%)		4.298	%		4/1/28		500,000		482,665	(a)(c)
HSBC Holdings PLC, Senior Notes		3.900	%		5/25/26		220,000		214,284
HSBC Holdings PLC, Senior Notes (2.099% to 6/4/25 then SOFR + 1.929%)		2.099	%		6/4/26		630,000		604,403	(c)
HSBC Holdings PLC, Senior Notes (3.973% to 5/22/29 then 3 mo. Term SOFR + 1.872%)		3.973	%		5/22/30		250,000		233,741	(c)
Intesa Sanpaolo SpA, Subordinated Notes		5.017	%		6/26/24		470,000		468,489	(a)
JPMorgan Chase & Co., Senior Notes (2.083% to 4/22/25 then SOFR + 1.850%)		2.083	%		4/22/26		630,000		607,200	(c)
JPMorgan Chase & Co., Senior Notes (2.522% to 4/22/30 then SOFR + 2.040%)		2.522	%		4/22/31		80,000		69,169	(c)
JPMorgan Chase & Co., Senior Notes (2.545% to 11/8/31 then SOFR + 1.180%)		2.545	%		11/8/32		260,000		216,426	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/40 then 3 mo. Term SOFR + 2.460%)		3.109	%		4/22/41		40,000		30,502	(c)
JPMorgan Chase & Co., Senior Notes (3.109% to 4/22/50 then SOFR + 2.440%)		3.109	%		4/22/51		40,000		27,819	(c)
JPMorgan Chase & Co., Senior Notes (3.509% to 1/23/28 then 3 mo. Term SOFR + 1.207%)		3.509	%		1/23/29		300,000		283,858	(c)
JPMorgan Chase & Co., Senior Notes (4.203% to 7/23/28 then 3 mo. Term SOFR + 1.522%)		4.203	%		7/23/29		140,000		135,019	(c)
JPMorgan Chase & Co., Senior Notes (4.452% to 12/5/28 then 3 mo. Term SOFR + 1.592%)		4.452	%		12/5/29		60,000		58,511	(c)
JPMorgan Chase & Co., Senior Notes (4.586% to 4/26/32 then SOFR + 1.800%)		4.586	%		4/26/33		520,000		498,486	(c)
JPMorgan Chase & Co., Subordinated Notes		3.875	%		9/10/24		60,000		59,525
JPMorgan Chase & Co., Subordinated Notes		4.250	%		10/1/27		50,000		48,885
JPMorgan Chase & Co., Subordinated Notes		4.950	%		6/1/45		30,000		28,547

See Notes to Schedule of Investments.

    14  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report 

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Lloyds Banking Group PLC, Senior Notes (3.574% to 11/7/27 then 3 mo. USD LIBOR + 1.205%)		3.574	%		11/7/28		400,000	$	375,158	(c)
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		200,000		196,543	(c)
PNC Financial Services Group Inc., Senior Notes (5.582% to 6/12/28 then SOFR + 1.841%)		5.582	%		6/12/29		280,000		283,493	(c)
PNC Financial Services Group Inc., Senior Notes (5.812% to 6/12/25 then SOFR + 1.322%)		5.812	%		6/12/26		90,000		90,327	(c)
Royal Bank of Canada, Senior Notes		1.150	%		6/10/25		170,000		162,209
Royal Bank of Canada, Senior Notes		3.875	%		5/4/32		180,000		166,476
Royal Bank of Canada, Senior Notes		5.150	%		2/1/34		140,000		140,199
Santander Holdings USA Inc., Senior Notes		4.500	%		7/17/25		70,000		68,842
Toronto-Dominion Bank, Senior Notes		1.150	%		6/12/25		80,000		76,224
Toronto-Dominion Bank, Senior Notes		4.456	%		6/8/32		190,000		182,043
Truist Financial Corp., Senior Notes (6.047% to 6/8/26 then SOFR + 2.050%)		6.047	%		6/8/27		190,000		192,612	(c)
US Bancorp, Senior Notes		1.450	%		5/12/25		10,000		9,590
US Bancorp, Senior Notes (2.215% to 1/27/27 then SOFR + 0.730%)		2.215	%		1/27/28		30,000		27,680	(c)
US Bancorp, Senior Notes (5.775% to 6/12/28 then SOFR + 2.020%)		5.775	%		6/12/29		200,000		203,547	(c)
US Bancorp, Senior Notes (5.836% to 6/10/33 then SOFR + 2.260%)		5.836	%		6/12/34		70,000		71,375	(c)
Wells Fargo & Co., Senior Notes		3.000	%		10/23/26		530,000		501,857
Wells Fargo & Co., Senior Notes		4.150	%		1/24/29		210,000		202,466
Wells Fargo & Co., Senior Notes (2.188% to 4/30/25 then SOFR + 2.000%)		2.188	%		4/30/26		150,000		144,491	(c)
Wells Fargo & Co., Senior Notes (2.393% to 6/2/27 then SOFR + 2.100%)		2.393	%		6/2/28		760,000		695,837	(c)
Wells Fargo & Co., Senior Notes (3.350% to 3/2/32 then SOFR + 1.500%)		3.350	%		3/2/33		50,000		43,398	(c)
Wells Fargo & Co., Senior Notes (4.478% to 4/4/30 then 3 mo. Term SOFR + 4.032%)		4.478	%		4/4/31		260,000		249,064	(c)
Wells Fargo & Co., Senior Notes (4.611% to 4/25/52 then SOFR + 2.130%)		4.611	%		4/25/53		830,000		734,112	(c)
Wells Fargo & Co., Senior Notes (5.013% to 4/4/50 then 3 mo. Term SOFR + 4.502%)		5.013	%		4/4/51		630,000		591,910	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      15

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Banks - (continued)
Wells Fargo & Co., Senior Notes (5.557% to 7/25/33 then SOFR + 1.990%)		5.557	%		7/25/34		120,000	$	120,516	(c)
Wells Fargo & Co., Senior Notes (5.574% to 7/25/28 then SOFR + 1.740%)		5.574	%		7/25/29		120,000		121,459	(c)
Wells Fargo & Co., Subordinated Notes		4.100	%		6/3/26		50,000		48,685
Wells Fargo & Co., Subordinated Notes		4.300	%		7/22/27		60,000		58,467
Wells Fargo & Co., Subordinated Notes		4.650	%		11/4/44		190,000		166,204
Wells Fargo & Co., Subordinated Notes		4.900	%		11/17/45		270,000		243,100
Wells Fargo & Co., Subordinated Notes		4.400	%		6/14/46		40,000		33,315
Wells Fargo & Co., Subordinated Notes		4.750	%		12/7/46		150,000		131,673
Total Banks									21,763,718
Capital Markets - 2.6%
Bank of New York Mellon Corp., Senior Notes		1.600	%		4/24/25		50,000		48,104
Charles Schwab Corp., Senior Notes		5.875	%		8/24/26		420,000		427,106
Charles Schwab Corp., Senior Notes (6.136% to 8/24/33 then SOFR + 2.010%)		6.136	%		8/24/34		80,000		83,508	(c)
Credit Suisse AG, Senior Notes		7.950	%		1/9/25		410,000		416,891
Credit Suisse AG, Senior Notes		2.950	%		4/9/25		270,000		262,948
Credit Suisse AG AT1 Claim		—			—		590,000		67,850	*(d)
Credit Suisse AG, Senior Notes		7.500	%		2/15/28		480,000		517,796
Goldman Sachs Group Inc., Senior Notes		3.850	%		7/8/24		40,000		39,807
Goldman Sachs Group Inc., Senior Notes		3.500	%		1/23/25		190,000		186,995
Goldman Sachs Group Inc., Senior Notes		3.500	%		4/1/25		270,000		264,962
Goldman Sachs Group Inc., Senior Notes		3.500	%		11/16/26		270,000		259,115
Goldman Sachs Group Inc., Senior Notes		6.250	%		2/1/41		100,000		108,971
Goldman Sachs Group Inc., Senior Notes		4.750	%		10/21/45		20,000		18,441
Goldman Sachs Group Inc., Senior Notes (2.650% to 10/21/31 then SOFR + 1.264%)		2.650	%		10/21/32		1,240,000		1,032,090	(c)
Goldman Sachs Group Inc., Senior Notes (2.908% to 7/21/41 then SOFR + 1.472%)		2.908	%		7/21/42		370,000		266,308	(c)
Goldman Sachs Group Inc., Senior Notes (3.210% to 4/22/41 then SOFR + 1.513%)		3.210	%		4/22/42		20,000		15,049	(c)
Goldman Sachs Group Inc., Senior Notes (3.615% to 3/15/27 then SOFR + 1.846%)		3.615	%		3/15/28		40,000		38,272	(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		150,000		143,560	(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		120,000		113,792	(c)

See Notes to Schedule of Investments.

    16  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Capital Markets - (continued)
Goldman Sachs Group Inc., Senior Notes (4.223% to 5/1/28 then 3 mo. Term SOFR + 1.563%)		4.223	%		5/1/29		260,000	$	250,324	(c)
Goldman Sachs Group Inc., Subordinated Notes		4.250	%		10/21/25		80,000		78,533
Goldman Sachs Group Inc., Subordinated Notes		6.750	%		10/1/37		190,000		207,677
Goldman Sachs Group Inc., Subordinated Notes		5.150	%		5/22/45		140,000		135,460
Morgan Stanley, Senior Notes (2.188% to 4/28/25 then SOFR + 1.990%)		2.188	%		4/28/26		480,000		463,223	(c)
Morgan Stanley, Senior Notes (2.511% to 10/20/31 then SOFR + 1.200%)		2.511	%		10/20/32		410,000		339,256	(c)
Morgan Stanley, Senior Notes (3.622% to 4/1/30 then SOFR + 3.120%)		3.622	%		4/1/31		270,000		247,722	(c)
Morgan Stanley, Senior Notes (3.772% to 1/24/28 then 3 mo. Term SOFR + 1.402%)		3.772	%		1/24/29		230,000		219,012	(c)
Morgan Stanley, Subordinated Notes (2.484% to 9/16/31 then SOFR + 1.360%)		2.484	%		9/16/36		60,000		47,480	(c)
UBS AG, Senior Notes		4.500	%		6/26/48		200,000		181,481
UBS Group AG, Junior Subordinated Notes (9.250% to 11/13/28 then 5 year Treasury Constant Maturity Rate + 4.745%)		9.250	%		11/13/28		460,000		499,548	(a)(b)(c)
UBS Group AG, Senior Notes		4.550	%		4/17/26		250,000		246,068
UBS Group AG, Senior Notes		4.253	%		3/23/28		500,000		482,340	(a)
UBS Group AG, Senior Notes (4.194% to 4/1/30 then SOFR + 3.730%)		4.194	%		4/1/31		250,000		232,293	(a)(c)
UBS Group AG, Senior Notes (9.016% to 11/15/32 then SOFR + 5.020%)		9.016	%		11/15/33		560,000		680,002	(a)(c)
Total Capital Markets									8,621,984
Consumer Finance - 0.1%
American Express Co., Senior Notes		3.375	%		5/3/24		20,000		19,958
American Express Co., Senior Notes		4.050	%		5/3/29		190,000		184,375
Total Consumer Finance									204,333
Financial Services - 0.8%
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		2.450	%		10/29/26		1,100,000		1,021,911
AerCap Ireland Capital DAC/AerCap Global Aviation Trust, Senior Notes		3.300	%		1/30/32		830,000		712,160
Berkshire Hathaway Energy Co., Senior Notes		6.125	%		4/1/36		97,000		103,208
Berkshire Hathaway Finance Corp., Senior Notes		4.250	%		1/15/49		180,000		161,040
Mastercard Inc., Senior Notes		3.850	%		3/26/50		20,000		16,569

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      17

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Financial Services - (continued)
PayPal Holdings Inc., Senior Notes		2.300	%		6/1/30		80,000	$	69,050
USAA Capital Corp., Senior Notes		2.125	%		5/1/30		150,000		125,582	(a)
Vanguard Group Inc.		3.050	%		8/22/50		120,000		76,587
Visa Inc., Senior Notes		2.050	%		4/15/30		120,000		103,567
Visa Inc., Senior Notes		4.300	%		12/14/45		190,000		171,481
Total Financial Services									2,561,155
Insurance - 0.2%
Aon North America Inc., Senior Notes		5.450	%		3/1/34		360,000		364,362
Guardian Life Global Funding, Secured Notes		1.100	%		6/23/25		30,000		28,551	(a)
New York Life Global Funding, Senior Secured Notes		0.950	%		6/24/25		60,000		56,977	(a)
Principal Life Global Funding II, Secured Notes		1.250	%		6/23/25		30,000		28,562	(a)
Teachers Insurance & Annuity Association of America, Subordinated Notes		6.850	%		12/16/39		8,000		9,104	(a)
Teachers Insurance & Annuity Association of America, Subordinated Notes		4.900	%		9/15/44		360,000		330,478	(a)
Total Insurance									818,034
TOTAL FINANCIALS									33,969,224
HEALTH CARE - 3.6%
Biotechnology - 0.5%
AbbVie Inc., Senior Notes		2.600	%		11/21/24		30,000		29,465
AbbVie Inc., Senior Notes		3.800	%		3/15/25		20,000		19,720
AbbVie Inc., Senior Notes		3.600	%		5/14/25		480,000		471,253
AbbVie Inc., Senior Notes		2.950	%		11/21/26		70,000		66,680
AbbVie Inc., Senior Notes		4.800	%		3/15/29		200,000		200,400
AbbVie Inc., Senior Notes		3.200	%		11/21/29		510,000		470,083
AbbVie Inc., Senior Notes		4.950	%		3/15/31		80,000		80,611
AbbVie Inc., Senior Notes		5.050	%		3/15/34		120,000		121,544
AbbVie Inc., Senior Notes		4.875	%		11/14/48		10,000		9,572
AbbVie Inc., Senior Notes		4.250	%		11/21/49		100,000		86,682
Amgen Inc., Senior Notes		4.663	%		6/15/51		29,000		25,704
Gilead Sciences Inc., Senior Notes		3.500	%		2/1/25		50,000		49,219
Gilead Sciences Inc., Senior Notes		4.750	%		3/1/46		50,000		45,958
Total Biotechnology									1,676,891
Health Care Equipment & Supplies - 0.4%
Abbott Laboratories, Senior Notes		4.750	%		11/30/36		170,000		168,684
Becton Dickinson & Co., Senior Notes		3.363	%		6/6/24		68,000		67,704
Becton Dickinson & Co., Senior Notes		3.734	%		12/15/24		9,000		8,886
Becton Dickinson & Co., Senior Notes		4.685	%		12/15/44		8,000		7,252

See Notes to Schedule of Investments.

    18  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Equipment & Supplies - (continued)
Roche Holdings Inc., Senior Notes		2.607	%		12/13/51		200,000	$	127,435	(a)
Solventum Corp., Senior Notes		5.400	%		3/1/29		220,000		220,503	(a)
Solventum Corp., Senior Notes		5.450	%		3/13/31		210,000		209,528	(a)
Solventum Corp., Senior Notes		5.600	%		3/23/34		290,000		291,078	(a)
Solventum Corp., Senior Notes		5.900	%		4/30/54		210,000		209,654	(a)
Total Health Care Equipment & Supplies									1,310,724
Health Care Providers & Services - 1.4%
Centene Corp., Senior Notes		4.250	%		12/15/27		50,000		47,711
Centene Corp., Senior Notes		4.625	%		12/15/29		80,000		76,008
Centene Corp., Senior Notes		3.375	%		2/15/30		10,000		8,856
Centene Corp., Senior Notes		3.000	%		10/15/30		10,000		8,583
Cigna Group, Senior Notes		4.375	%		10/15/28		310,000		302,531
Cigna Group, Senior Notes		4.800	%		8/15/38		430,000		404,191
Cigna Group, Senior Notes		4.900	%		12/15/48		20,000		18,231
Cigna Group, Senior Notes		3.400	%		3/15/50		100,000		71,225
CVS Health Corp., Senior Notes		3.875	%		7/20/25		10,000		9,815
CVS Health Corp., Senior Notes		3.625	%		4/1/27		30,000		28,866
CVS Health Corp., Senior Notes		4.300	%		3/25/28		136,000		132,761
CVS Health Corp., Senior Notes		3.750	%		4/1/30		400,000		372,897
CVS Health Corp., Senior Notes		1.875	%		2/28/31		20,000		16,307
CVS Health Corp., Senior Notes		2.125	%		9/15/31		80,000		65,345
CVS Health Corp., Senior Notes		4.125	%		4/1/40		20,000		16,864
CVS Health Corp., Senior Notes		5.125	%		7/20/45		150,000		138,325
CVS Health Corp., Senior Notes		5.050	%		3/25/48		550,000		499,829
Elevance Health Inc., Senior Notes		3.350	%		12/1/24		50,000		49,298
Elevance Health Inc., Senior Notes		3.650	%		12/1/27		220,000		210,524
Elevance Health Inc., Senior Notes		4.100	%		5/15/32		180,000		168,602
Elevance Health Inc., Senior Notes		4.550	%		5/15/52		70,000		61,595
HCA Inc., Senior Notes		5.375	%		2/1/25		20,000		19,947
HCA Inc., Senior Notes		5.250	%		4/15/25		30,000		29,882
HCA Inc., Senior Notes		5.250	%		6/15/26		30,000		29,921
HCA Inc., Senior Notes		5.375	%		9/1/26		60,000		60,013
HCA Inc., Senior Notes		4.500	%		2/15/27		40,000		39,231
HCA Inc., Senior Notes		5.625	%		9/1/28		100,000		101,273
HCA Inc., Senior Notes		3.500	%		9/1/30		170,000		153,796
HCA Inc., Senior Notes		5.500	%		6/15/47		30,000		28,543
Humana Inc., Senior Notes		4.500	%		4/1/25		20,000		19,809
Humana Inc., Senior Notes		3.950	%		3/15/27		410,000		397,194
Humana Inc., Senior Notes		2.150	%		2/3/32		30,000		24,002

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      19

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Health Care Providers & Services - (continued)
LifePoint Health Inc., Senior Secured Notes		9.875	%		8/15/30		20,000	$	20,946	(a)
Medline Borrower LP/Medline Co-Issuer Inc., Senior Secured Notes		6.250	%		4/1/29		110,000		110,630	(a)
UnitedHealth Group Inc., Senior Notes		1.250	%		1/15/26		20,000		18,751
UnitedHealth Group Inc., Senior Notes		3.875	%		12/15/28		280,000		270,184
UnitedHealth Group Inc., Senior Notes		4.000	%		5/15/29		130,000		125,776
UnitedHealth Group Inc., Senior Notes		2.000	%		5/15/30		30,000		25,509
UnitedHealth Group Inc., Senior Notes		2.300	%		5/15/31		20,000		16,952
UnitedHealth Group Inc., Senior Notes		4.200	%		5/15/32		90,000		85,572
UnitedHealth Group Inc., Senior Notes		5.000	%		4/15/34		30,000		30,065
UnitedHealth Group Inc., Senior Notes		4.250	%		6/15/48		20,000		17,292
UnitedHealth Group Inc., Senior Notes		4.450	%		12/15/48		20,000		17,821
UnitedHealth Group Inc., Senior Notes		3.700	%		8/15/49		100,000		78,511
UnitedHealth Group Inc., Senior Notes		2.900	%		5/15/50		30,000		20,349
UnitedHealth Group Inc., Senior Notes		3.250	%		5/15/51		180,000		129,530
UnitedHealth Group Inc., Senior Notes		3.875	%		8/15/59		50,000		38,766
UnitedHealth Group Inc., Senior Notes		3.125	%		5/15/60		10,000		6,584
Total Health Care Providers & Services									4,625,213
Pharmaceuticals - 1.3%
Bausch Health Cos. Inc., Senior Notes		6.250	%		2/15/29		90,000		38,578	(a)
Bausch Health Cos. Inc., Senior Notes		7.250	%		5/30/29		20,000		8,677	(a)
Bausch Health Cos. Inc., Senior Secured Notes		5.500	%		11/1/25		10,000		9,450	(a)
Bristol-Myers Squibb Co., Senior Notes		2.900	%		7/26/24		71,000		70,413
Bristol-Myers Squibb Co., Senior Notes		3.400	%		7/26/29		158,000		148,455
Bristol-Myers Squibb Co., Senior Notes		5.100	%		2/22/31		110,000		111,115
Bristol-Myers Squibb Co., Senior Notes		5.200	%		2/22/34		300,000		304,759
Bristol-Myers Squibb Co., Senior Notes		5.550	%		2/22/54		60,000		61,756
Bristol-Myers Squibb Co., Senior Notes		5.650	%		2/22/64		50,000		51,485
Eli Lilly & Co., Senior Notes		4.700	%		2/9/34		280,000		278,575
Eli Lilly & Co., Senior Notes		5.000	%		2/9/54		30,000		29,854
Eli Lilly & Co., Senior Notes		5.100	%		2/9/64		230,000		229,092
Johnson & Johnson, Senior Notes		2.100	%		9/1/40		460,000		316,569
Merck & Co. Inc., Senior Notes		1.450	%		6/24/30		50,000		41,199
Merck & Co. Inc., Senior Notes		2.750	%		12/10/51		320,000		209,398
Pfizer Inc., Senior Notes		2.625	%		4/1/30		460,000		409,919
Pfizer Inc., Senior Notes		1.700	%		5/28/30		70,000		58,873
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		3.150	%		10/1/26		1,460,000		1,366,109

See Notes to Schedule of Investments.

    20  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - (continued)
Teva Pharmaceutical Finance Netherlands III BV, Senior Notes		5.125	%		5/9/29		460,000	$	442,493
Wyeth LLC, Senior Notes		5.950	%		4/1/37		10,000		10,809
Total Pharmaceuticals									4,197,578
TOTAL HEALTH CARE									11,810,406
INDUSTRIALS - 2.5%
Aerospace & Defense - 1.1%
Boeing Co., Senior Notes		4.875	%		5/1/25		160,000		158,247
Boeing Co., Senior Notes		2.196	%		2/4/26		400,000		374,650
Boeing Co., Senior Notes		3.100	%		5/1/26		20,000		18,992
Boeing Co., Senior Notes		2.700	%		2/1/27		40,000		36,862
Boeing Co., Senior Notes		2.800	%		3/1/27		50,000		46,203
Boeing Co., Senior Notes		3.200	%		3/1/29		130,000		116,216
Boeing Co., Senior Notes		5.150	%		5/1/30		320,000		309,759
Boeing Co., Senior Notes		3.250	%		2/1/35		30,000		23,624
Boeing Co., Senior Notes		3.550	%		3/1/38		20,000		15,234
Boeing Co., Senior Notes		5.705	%		5/1/40		90,000		86,209
Boeing Co., Senior Notes		3.750	%		2/1/50		30,000		20,899
General Dynamics Corp., Senior Notes		4.250	%		4/1/40		10,000		9,078
General Dynamics Corp., Senior Notes		4.250	%		4/1/50		140,000		122,116
L3Harris Technologies Inc., Senior Notes		5.054	%		4/27/45		60,000		56,726
Lockheed Martin Corp., Senior Notes		3.900	%		6/15/32		160,000		150,264
Lockheed Martin Corp., Senior Notes		4.500	%		5/15/36		30,000		28,524
Lockheed Martin Corp., Senior Notes		4.150	%		6/15/53		530,000		447,775
Lockheed Martin Corp., Senior Notes		5.200	%		2/15/64		60,000		59,377
Northrop Grumman Corp., Senior Notes		2.930	%		1/15/25		10,000		9,816
Northrop Grumman Corp., Senior Notes		3.250	%		1/15/28		440,000		415,897
Northrop Grumman Corp., Senior Notes		5.250	%		5/1/50		250,000		245,510
RTX Corp., Senior Notes		3.150	%		12/15/24		40,000		39,228
RTX Corp., Senior Notes		4.125	%		11/16/28		130,000		125,814
RTX Corp., Senior Notes		2.250	%		7/1/30		70,000		59,806
RTX Corp., Senior Notes		6.000	%		3/15/31		150,000		157,774
RTX Corp., Senior Notes		4.500	%		6/1/42		260,000		232,160
RTX Corp., Senior Notes		3.030	%		3/15/52		160,000		106,076
TransDigm Inc., Senior Secured Notes		6.375	%		3/1/29		50,000		50,218	(a)
TransDigm Inc., Senior Secured Notes		7.125	%		12/1/31		150,000		154,771	(a)
TransDigm Inc., Senior Secured Notes		6.625	%		3/1/32		60,000		60,692	(a)
Total Aerospace & Defense									3,738,517

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      21

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Building Products - 0.0%††
Builders FirstSource Inc., Senior Notes		4.250	%		2/1/32		20,000	$	17,950	(a)
Carrier Global Corp., Senior Notes		3.577	%		4/5/50		10,000		7,459
Total Building Products									25,409
Commercial Services & Supplies - 0.2%
Cintas Corp. No 2, Senior Notes		3.700	%		4/1/27		160,000		155,493
GFL Environmental Inc., Senior Secured Notes		4.250	%		6/1/25		50,000		49,219	(a)
GFL Environmental Inc., Senior Secured Notes		6.750	%		1/15/31		110,000		112,867	(a)
Waste Connections Inc., Senior Notes		5.000	%		3/1/34		170,000		168,461
Total Commercial Services & Supplies									486,040
Electrical Equipment - 0.0%††
Eaton Corp., Senior Notes		4.150	%		11/2/42		20,000		17,563
Ground Transportation - 0.2%
Burlington Northern Santa Fe LLC, Senior Notes		2.875	%		6/15/52		100,000		65,575
Canadian Pacific Railway Co., Senior Notes		3.100	%		12/2/51		200,000		138,166
Union Pacific Corp., Senior Notes		2.891	%		4/6/36		240,000		195,940
Union Pacific Corp., Senior Notes		3.839	%		3/20/60		370,000		284,546
Union Pacific Corp., Senior Notes		3.750	%		2/5/70		60,000		44,185
Total Ground Transportation									728,412
Industrial Conglomerates - 0.2%
3M Co., Senior Notes		2.375	%		8/26/29		50,000		43,858
3M Co., Senior Notes		3.050	%		4/15/30		120,000		107,851
3M Co., Senior Notes		3.700	%		4/15/50		120,000		88,776
Honeywell International Inc., Senior Notes		5.000	%		3/1/35		270,000		271,133
Total Industrial Conglomerates									511,618
Machinery - 0.0%††
Deere & Co., Senior Notes		3.100	%		4/15/30		10,000		9,140
Deere & Co., Senior Notes		3.750	%		4/15/50		40,000		33,149
Otis Worldwide Corp., Senior Notes		2.056	%		4/5/25		10,000		9,673
Total Machinery									51,962
Passenger Airlines - 0.4%
American Airlines Inc., Senior Secured Notes		8.500	%		5/15/29		240,000		253,700	(a)
Delta Air Lines Inc., Senior Notes		2.900	%		10/28/24		60,000		58,946
Delta Air Lines Inc., Senior Notes		7.375	%		1/15/26		100,000		103,202
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.500	%		10/20/25		50,750		50,244	(a)
Delta Air Lines Inc./SkyMiles IP Ltd., Senior Secured Notes		4.750	%		10/20/28		150,000		146,758	(a)

See Notes to Schedule of Investments.

    22  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Passenger Airlines - (continued)
Mileage Plus Holdings LLC/Mileage Plus Intellectual Property Assets Ltd., Senior Secured Notes		6.500	%		6/20/27		58,500	$	58,869	(a)
Spirit Loyalty Cayman Ltd./Spirit IP Cayman Ltd., Senior Secured Notes		8.000	%		9/20/25		60,000		45,590	(a)
United Airlines Inc., Senior Secured Notes		4.375	%		4/15/26		20,000		19,348	(a)
United Airlines Inc., Senior Secured Notes		4.625	%		4/15/29		480,000		446,935	(a)
Total Passenger Airlines									1,183,592
Trading Companies & Distributors - 0.4%
Air Lease Corp., Senior Notes		3.375	%		7/1/25		40,000		38,995
Air Lease Corp., Senior Notes		5.300	%		2/1/28		160,000		160,161
United Rentals North America Inc., Secured Notes		3.875	%		11/15/27		20,000		18,953
United Rentals North America Inc., Senior Notes		4.875	%		1/15/28		20,000		19,479
United Rentals North America Inc., Senior Notes		5.250	%		1/15/30		100,000		97,621
United Rentals North America Inc., Senior Notes		3.875	%		2/15/31		1,090,000		977,713
United Rentals North America Inc., Senior Notes		3.750	%		1/15/32		60,000		52,441
Total Trading Companies & Distributors									1,365,363
TOTAL INDUSTRIALS									8,108,476
INFORMATION TECHNOLOGY - 0.6%
Semiconductors & Semiconductor Equipment - 0.3%
Broadcom Inc., Senior Notes		3.137	%		11/15/35		440,000		355,642	(a)
Broadcom Inc., Senior Notes		4.926	%		5/15/37		10,000		9,496	(a)
Intel Corp., Senior Notes		1.600	%		8/12/28		220,000		193,144
Intel Corp., Senior Notes		5.125	%		2/10/30		120,000		121,885
Intel Corp., Senior Notes		4.750	%		3/25/50		70,000		63,452
Intel Corp., Senior Notes		3.050	%		8/12/51		20,000		13,496
Micron Technology Inc., Senior Notes		5.300	%		1/15/31		130,000		130,800
Micron Technology Inc., Senior Notes		5.875	%		2/9/33		80,000		82,818
NVIDIA Corp., Senior Notes		3.700	%		4/1/60		70,000		55,866
NXP BV/NXP Funding LLC/NXP USA Inc., Senior Notes		2.700	%		5/1/25		20,000		19,414
Texas Instruments Inc., Senior Notes		1.750	%		5/4/30		50,000		42,259
Total Semiconductors & Semiconductor Equipment									1,088,272
Software - 0.3%
Microsoft Corp., Senior Notes		3.450	%		8/8/36		5,000		4,477

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      23

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Software - (continued)
Microsoft Corp., Senior Notes		2.921	%		3/17/52		165,000	$	116,750
Oracle Corp., Senior Notes		1.650	%		3/25/26		140,000		130,745
Oracle Corp., Senior Notes		2.950	%		4/1/30		10,000		8,902
Oracle Corp., Senior Notes		4.650	%		5/6/30		120,000		117,719
Oracle Corp., Senior Notes		2.875	%		3/25/31		480,000		417,584
Total Software									796,177
TOTAL INFORMATION TECHNOLOGY									1,884,449
MATERIALS - 1.2%
Chemicals - 0.1%
OCP SA, Senior Notes		3.750	%		6/23/31		200,000		170,985	(a)
Orbia Advance Corp. SAB de CV, Senior Notes		2.875	%		5/11/31		300,000		249,657	(a)
Total Chemicals									420,642
Metals & Mining - 0.9%
Anglo American Capital PLC, Senior Notes		3.625	%		9/11/24		300,000		296,600	(a)
Barrick North America Finance LLC, Senior Notes		5.700	%		5/30/41		180,000		184,637
BHP Billiton Finance USA Ltd., Senior Notes		5.000	%		9/30/43		250,000		240,904
First Quantum Minerals Ltd., Secured Notes		9.375	%		3/1/29		200,000		207,433	(a)
First Quantum Minerals Ltd., Senior Notes		6.875	%		10/15/27		420,000		403,166	(a)
Freeport-McMoRan Inc., Senior Notes		4.550	%		11/14/24		10,000		9,930
Freeport-McMoRan Inc., Senior Notes		4.625	%		8/1/30		30,000		28,847
Freeport-McMoRan Inc., Senior Notes		5.400	%		11/14/34		40,000		39,548
Freeport-McMoRan Inc., Senior Notes		5.450	%		3/15/43		310,000		297,053
Glencore Funding LLC, Senior Notes		4.625	%		4/29/24		40,000		39,954	(a)
Glencore Funding LLC, Senior Notes		4.000	%		3/27/27		420,000		406,177	(a)
Glencore Funding LLC, Senior Notes		3.875	%		10/27/27		70,000		67,194	(a)
Southern Copper Corp., Senior Notes		5.250	%		11/8/42		350,000		331,942
Teck Resources Ltd., Senior Notes		6.000	%		8/15/40		10,000		10,046
Vale Overseas Ltd., Senior Notes		6.875	%		11/21/36		149,000		159,347
Total Metals & Mining									2,722,778
Paper & Forest Products - 0.2%
Suzano Austria GmbH, Senior Notes		3.750	%		1/15/31		200,000		176,929
Suzano Austria GmbH, Senior Notes		3.125	%		1/15/32		480,000		399,053
Total Paper & Forest Products									575,982
TOTAL MATERIALS									3,719,402
UTILITIES - 0.3%
Electric Utilities - 0.2%
American Transmission Systems Inc., Senior Notes		2.650	%		1/15/32		150,000		124,518	(a)

See Notes to Schedule of Investments.

    24  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Electric Utilities - (continued)
Duke Energy Carolinas LLC, First Mortgage Bonds		5.300	%		2/15/40		110,000	$	108,846
FirstEnergy Corp., Senior Notes		1.600	%		1/15/26		30,000		28,010
FirstEnergy Corp., Senior Notes		4.150	%		7/15/27		270,000		259,165
FirstEnergy Corp., Senior Notes		5.100	%		7/15/47		150,000		131,805
Pacific Gas and Electric Co., First Mortgage Bonds		2.100	%		8/1/27		40,000		36,032
Pacific Gas and Electric Co., First Mortgage Bonds		2.500	%		2/1/31		50,000		41,616
Total Electric Utilities									729,992
Multi-Utilities - 0.1%
Consolidated Edison Co. of New York Inc., Senior Notes		3.350	%		4/1/30		110,000		101,409
Consolidated Edison Co. of New York Inc., Senior Notes		3.950	%		4/1/50		90,000		73,194
Total Multi-Utilities									174,603
TOTAL UTILITIES									904,595
TOTAL CORPORATE BONDS & NOTES (Cost - $109,150,212)									103,293,744
MORTGAGE-BACKED SECURITIES - 28.9%
FHLMC - 9.2%
Federal Home Loan Mortgage Corp. (FHLMC)		3.000	%		10/1/32-4/1/52		1,312,324		1,154,458
Federal Home Loan Mortgage Corp. (FHLMC)		3.500	%		4/1/33-4/1/52		1,026,343		932,991
Federal Home Loan Mortgage Corp. (FHLMC)		4.500	%		6/1/38-12/1/52		2,162,847		2,088,209
Federal Home Loan Mortgage Corp. (FHLMC)		2.000	%		9/1/40-11/1/51		5,954,141		4,971,548
Federal Home Loan Mortgage Corp. (FHLMC)		1.500	%		11/1/40-3/1/52		2,356,349		1,913,764
Federal Home Loan Mortgage Corp. (FHLMC)		5.000	%		6/1/41-5/1/53		2,011,083		1,973,535
Federal Home Loan Mortgage Corp. (FHLMC)		2.500	%		3/1/42-4/1/52		9,893,387		8,330,864
Federal Home Loan Mortgage Corp. (FHLMC)		4.000	%		7/1/49-2/1/53		1,489,941		1,393,940
Federal Home Loan Mortgage Corp. (FHLMC)		5.500	%		12/1/52-9/1/53		2,444,476		2,442,311
Federal Home Loan Mortgage Corp. (FHLMC)		6.000	%		12/1/52-9/1/53		661,337		673,102

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      25

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FHLMC - (continued)
Federal Home Loan Mortgage Corp. (FHLMC)		6.500	%		1/1/53-5/1/53		617,076	$	635,128
Federal Home Loan Mortgage Corp. (FHLMC) (1 year Refinitiv USD IBOR Consumer Cash Fallbacks + 1.619%)		2.875	%		11/1/47		209,340		203,062	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (1 year Refinitiv USD IBOR Consumer Cash Fallbacks + 1.621%)		3.096	%		2/1/50		105,550		99,738	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (1 year Refinitiv USD IBOR Consumer Cash Fallbacks + 1.627%)		3.007	%		11/1/48		210,473		198,378	(c)
Federal Home Loan Mortgage Corp. (FHLMC) (1 year Refinitiv USD IBOR Consumer Cash Fallbacks + 1.634%)		2.635	%		12/1/50		296,936		272,170	(c)(e)
Federal Home Loan Mortgage Corp. (FHLMC) Gold		4.000	%		6/1/43		1,308,026		1,228,359
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.500	%		3/1/45		245,471		220,320
Federal Home Loan Mortgage Corp. (FHLMC) Gold		3.000	%		10/1/46-5/1/47		1,338,775		1,183,913
Total FHLMC									29,915,790
FNMA - 11.2%
Federal National Mortgage Association (FNMA)		5.350	%		7/1/33		100,000		103,065
Federal National Mortgage Association (FNMA)		3.500	%		12/1/34-6/1/52		4,764,715		4,320,391
Federal National Mortgage Association (FNMA)		3.000	%		7/1/35-3/1/52		7,355,250		6,472,062
Federal National Mortgage Association (FNMA)		2.500	%		9/1/36-6/1/62		7,048,602		5,896,175
Federal National Mortgage Association (FNMA)		3.870	%		5/1/37		100,000		91,255
Federal National Mortgage Association (FNMA)		2.000	%		10/1/40-3/1/52		7,853,870		6,407,372
Federal National Mortgage Association (FNMA)		4.000	%		10/1/40-6/1/57		1,774,571		1,677,447
Federal National Mortgage Association (FNMA)		1.500	%		11/1/41-3/1/51		697,512		542,479
Federal National Mortgage Association (FNMA)		4.500	%		6/1/47-1/1/59		1,463,699		1,407,413
Federal National Mortgage Association (FNMA)		5.000	%		11/1/48-7/1/53		1,376,602		1,357,847

See Notes to Schedule of Investments.

    26  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
FNMA - (continued)
Federal National Mortgage Association (FNMA)		5.500	%		11/1/52-9/1/53		2,669,457	$	2,666,109
Federal National Mortgage Association (FNMA)		6.000	%		12/1/52-7/1/53		1,664,246		1,692,115
Federal National Mortgage Association (FNMA)		6.500	%		1/1/53-12/1/53		544,493		561,690
Federal National Mortgage Association (FNMA)		6.500	%		3/1/54		300,000		308,443	(e)
Federal National Mortgage Association (FNMA)		3.000	%		4/1/54		1,200,000		1,032,535	(f)
Federal National Mortgage Association (FNMA)		4.500	%		4/1/54		900,000		857,141	(f)
Federal National Mortgage Association (FNMA)		5.000	%		4/1/54		900,000		878,237	(f)
Federal National Mortgage Association (FNMA)		6.500	%		4/1/54		200,000		204,355	(f)
Total FNMA									36,476,131
GNMA - 8.5%
Government National Mortgage Association (GNMA)		3.000	%		9/15/42-10/15/42		87,422		79,039
Government National Mortgage Association (GNMA)		3.500	%		5/15/50		39,783		36,906
Government National Mortgage Association (GNMA) II		4.000	%		10/20/45-6/20/52		1,439,323		1,364,175
Government National Mortgage Association (GNMA) II		3.500	%		1/20/46-6/20/52		2,421,876		2,212,267
Government National Mortgage Association (GNMA) II		3.000	%		11/20/46-4/20/53		3,110,978		2,738,396
Government National Mortgage Association (GNMA) II		4.500	%		8/20/47-9/20/52		1,671,702		1,622,342
Government National Mortgage Association (GNMA) II		5.000	%		5/20/48-8/20/53		3,241,166		3,199,639
Government National Mortgage Association (GNMA) II		2.000	%		10/20/50		1,164,231		955,279	(e)
Government National Mortgage Association (GNMA) II		2.000	%		12/20/50-3/20/51		4,501,856		3,685,067
Government National Mortgage Association (GNMA) II		2.500	%		1/20/51-12/20/52		4,601,343		3,907,019
Government National Mortgage Association (GNMA) II		2.500	%		4/20/51		889,585		758,810	(e)
Government National Mortgage Association (GNMA) II		5.500	%		11/20/52-8/20/53		2,283,614		2,293,641
Government National Mortgage Association (GNMA) II		6.000	%		9/20/53-1/20/54		772,960		786,199

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      27

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
GNMA - (continued)
Government National Mortgage Association (GNMA) II		6.500	%		9/20/53-11/20/53		196,919	$	201,527
Government National Mortgage Association (GNMA) II		3.000	%		4/20/54		100,000		88,201	(f)
Government National Mortgage Association (GNMA) II		4.000	%		4/20/54		500,000		467,923	(f)
Government National Mortgage Association (GNMA) II		4.500	%		4/20/54		1,100,000		1,057,084	(f)
Government National Mortgage Association (GNMA) II		5.000	%		4/20/54		1,100,000		1,081,204	(f)
Government National Mortgage Association (GNMA) II		5.500	%		4/20/54		1,200,000		1,199,061	(f)
Government National Mortgage Association (GNMA) II		6.000	%		4/20/54		100,000		100,890	(f)
Total GNMA									27,834,669
TOTAL MORTGAGE-BACKED SECURITIES (Cost - $98,661,071)									94,226,590
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - 12.5%
280 Park Avenue Mortgage Trust, 2017-280P F (1 mo. Term SOFR + 3.127%)		8.445	%		9/15/34		410,000		373,058	(a)(c)
ACRES Commercial Realty Ltd., 2021-FL1 A (1 mo. Term SOFR + 1.314%)		6.640	%		6/15/36		285,483		282,101	(a)(c)
Angel Oak Mortgage Trust, 2022-3 A3		4.134	%		1/25/67		539,929		492,017	(a)(c)
BANK, 2017-BNK5 A5		3.390	%		6/15/60		640,000		605,766
BANK, 2017-BNK6 A4		3.254	%		7/15/60		360,000		340,513
BANK, 2017-BNK7 A5		3.435	%		9/15/60		580,000		547,782
BANK, 2017-BNK7 XA, IO		0.714	%		9/15/60		2,922,287		53,776	(c)
BANK, 2023-BNK45 A5		5.203	%		2/15/56		170,000		171,784
Benchmark Mortgage Trust, 2018-B1 A5		3.666	%		1/15/51		220,000		206,107	(c)
Benchmark Mortgage Trust, 2020-IG1 AS		2.909	%		9/15/43		500,000		372,208	(c)
Benchmark Mortgage Trust, 2022-B32 XA, IO		0.458	%		1/15/55		4,113,395		80,949	(c)
BLP Commercial Mortgage Trust, 2023-IND A (1 mo. Term SOFR + 1.692%)		7.017	%		3/15/40		170,000		170,556	(a)(c)
BPR Trust, 2021-TY A (1 mo. Term SOFR + 1.164%)		6.490	%		9/15/38		170,000		169,075	(a)(c)
BPR Trust, 2022-OANA A (1 mo. Term SOFR + 1.898%)		7.223	%		4/15/37		220,000		221,362	(a)(c)
BRAVO Residential Funding Trust, 2021-NQM2 A1		0.970	%		3/25/60		26,084		24,375	(a)(c)
BRAVO Residential Funding Trust, 2024-NQM3 A1		6.191	%		3/25/64		250,000		251,477	(a)

See Notes to Schedule of Investments.

    28  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
BX Commercial Mortgage Trust, 2023-VLT2 D (1 mo. Term SOFR + 4.774%)		10.099	%		6/15/40		320,000	$	321,257	(a)(c)
BX Commercial Mortgage Trust, 2023-VLT2 E (1 mo. Term SOFR + 5.871%)		11.196	%		6/15/40		690,000		693,763	(a)(c)
BX Commercial Mortgage Trust, 2023-XL3 A (1 mo. Term SOFR + 1.761%)		7.087	%		12/9/40		310,000		312,439	(a)(c)
BX Commercial Mortgage Trust, 2024-XL5 A (1 mo. Term SOFR + 1.392%)		6.692	%		3/15/41		260,000		260,517	(a)(c)
BX Trust, 2022-CLS A		5.760	%		10/13/27		450,000		451,923	(a)
BX Trust, 2022-LBA6 A (1 mo. Term SOFR + 1.000%)		6.325	%		1/15/39		250,000		248,864	(a)(c)
CD Mortgage Trust, 2017-CD3 A4		3.631	%		2/10/50		170,000		157,211
Chevy Chase Funding LLC Mortgage-Backed Certificates, 2004-3A A1 (1 mo. Term SOFR + 0.364%)		5.694	%		8/25/35		200,110		186,587	(a)(c)
Chevy Chase Funding LLC Mortgage-Backed Certificates, 2004-3A A2 (1 mo. Term SOFR + 0.414%)		5.744	%		8/25/35		218,349		204,215	(a)(c)
CIM Trust, 2021-R6 A1		1.425	%		7/25/61		67,204		58,048	(a)(c)
CSAIL Commercial Mortgage Trust, 2017-C8 C		4.265	%		6/15/50		515,000		429,408	(c)
CSMC OA LLC, 2014-USA F		4.373	%		9/15/37		640,000		228,017	(a)
CSMC Trust, 2017-CHOP G (PRIME + 2.294%)		10.794	%		7/15/32		714,000		616,634	(a)(c)
CSMC Trust, 2018-J1 A2		3.500	%		2/25/48		250,366		222,201	(a)(c)
CSMC Trust, 2019-AFC1 A1		3.573	%		7/25/49		83,580		77,779	(a)
CSMC Trust, 2021-AFC1 A1		0.830	%		3/25/56		59,236		48,041	(a)(c)
CSMC Trust, 2021-NQM3 A3		1.632	%		4/25/66		62,406		51,872	(a)(c)
CSMC Trust, 2021-NQM7 A1		1.756	%		10/25/66		94,850		80,795	(a)(c)
CSMC Trust, 2021-NQM8 A1		1.841	%		10/25/66		582,977		508,192	(a)(c)
CSMC Trust, 2021-RPL6 A1		2.000	%		10/25/60		73,980		64,957	(a)(c)
DBJPM Mortgage Trust, 2016-C3 A5		2.890	%		8/10/49		500,000		469,893
DTP Commercial Mortgage Trust, 2023-STE2 A		5.648	%		1/15/41		320,000		321,296	(a)(c)
Ellington Financial Mortgage Trust, 2020-1 B1		5.097	%		5/25/65		720,000		732,040	(a)(c)
Ellington Financial Mortgage Trust, 2021-2 A1		0.931	%		6/25/66		74,050		59,817	(a)(c)
Ellington Financial Mortgage Trust, 2022-1 A2		3.001	%		1/25/67		120,000		86,937	(a)(c)
ELP Commercial Mortgage Trust, 2021-ELP A (1 mo. Term SOFR + 0.815%)		6.141	%		11/15/38		119,860		118,896	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K104 X1, IO		1.123	%		1/25/30		3,421,261		175,192	(c)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      29

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K123 X1, IO		0.771	%		12/25/30		6,466,970	$	259,721	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K130 X1, IO		1.037	%		6/25/31		4,091,006		240,036	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K152 X1, IO		0.154	%		11/25/32		12,993,115		185,721	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K736 X1, IO		1.281	%		7/25/26		952,681		21,210	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, K1517 X1, IO		1.323	%		7/25/35		136,822		14,157	(c)
Federal Home Loan Mortgage Corp. (FHLMC) Multifamily Structured Pass-Through Certificates, KG06 X1, IO		0.532	%		10/25/31		3,095,997		97,686	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 3281 AI, IO (-1.000 x 30 Day Average SOFR + 6.316%)		0.997	%		2/15/37		1,115,260		100,130	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4391 MZ		3.000	%		9/15/44		132,929		115,626
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4980 KI, IO		4.500	%		6/25/50		889,371		203,315
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 4991 QV		2.000	%		9/25/45		92,218		74,154
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 IK, IO		2.500	%		9/25/50		64,801		9,683
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5010 JI, IO		2.500	%		9/25/50		153,747		24,716
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5013 IN, IO		2.500	%		9/25/50		78,544		12,795
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5018 MI, IO		2.000	%		10/25/50		80,898		10,716
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5071 IH, IO, PAC		2.500	%		2/25/51		485,272		63,200
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5092 AP, PAC		2.000	%		4/25/41		76,719		65,496
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5093 IY, IO, PAC		4.500	%		12/25/50		484,108		110,395

See Notes to Schedule of Investments.

    30  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5118 NI, IO		2.000	%		2/25/51		760,438	$	98,413
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5140 NI, IO		2.500	%		5/25/49		172,540		24,013
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5202 IN, IO		3.000	%		1/25/47		725,898		95,141
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5224 HL, PAC		4.000	%		4/25/52		100,000		89,905
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5230 PE		2.000	%		12/25/51		300,000		234,312
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5274 IO, IO		2.500	%		1/25/51		643,451		104,280
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, 5293 IO, IO		2.000	%		3/25/51		929,492		114,611
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA1 M2 (30 Day Average SOFR + 1.800%)		7.120	%		1/25/51		76,085		76,715	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA6 B1 (30 Day Average SOFR + 3.400%)		8.720	%		10/25/41		350,000		362,740	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA1 M1B (30 Day Average SOFR + 1.850%)		7.170	%		1/25/42		490,000		493,279	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA2 M1A (30 Day Average SOFR + 1.300%)		6.620	%		2/25/42		137,030		137,390	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2022-DNA4 M1A (30 Day Average SOFR + 2.200%)		7.520	%		5/25/42		409,302		416,616	(a)(c)
Federal Home Loan Mortgage Corp. (FHLMC) STRIPS, 328 S4, IO		0.000	%		2/15/38		17,875		1,133	(c)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2021-DNA2 M2 (30 Day Average SOFR + 2.300%)		7.620	%		8/25/33		93,172		95,066	(a)(c)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      31

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Federal Home Loan Mortgage Corp. (FHLMC) REMIC, Structured Agency Credit Risk Debt Notes, 2023-DNA2 M1A (30 Day Average SOFR + 2.100%)		7.420	%		4/25/43		607,658	$	619,162	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2019-R03 1B1 (30 Day Average SOFR + 4.214%)		9.535	%		9/25/31		288,494		306,409	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2019-R05 1B1 (30 Day Average SOFR + 4.214%)		9.535	%		7/25/39		217,118		226,292	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2020-R01 1M2 (30 Day Average SOFR + 2.164%)		7.485	%		1/25/40		29,279		29,678	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2021-R01 1B1 (30 Day Average SOFR + 3.100%)		8.420	%		10/25/41		250,000		257,581	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2021-R03 1M2 (30 Day Average SOFR + 1.650%)		6.970	%		12/25/41		520,000		522,841	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2023-R06 1M2 (30 Day Average SOFR + 2.700%)		8.020	%		7/25/43		240,000		248,832	(a)(c)
Federal National Mortgage Association (FNMA) - CAS, 2024-R01 1M2 (30 Day Average SOFR + 1.800%)		7.120	%		1/25/44		250,000		251,690	(a)(c)
Federal National Mortgage Association (FNMA) ACES, 2023-M4 A2		3.768	%		8/25/32		100,000		93,824	(c)
Federal National Mortgage Association (FNMA) REMIC, 2012-118 VZ		3.000	%		11/25/42		126,519		113,002
Federal National Mortgage Association (FNMA) REMIC, 2014-6 Z		2.500	%		2/25/44		257,809		218,600
Federal National Mortgage Association (FNMA) REMIC, 2015-55 IO, IO		0.000	%		8/25/55		146,473		5,152	(c)
Federal National Mortgage Association (FNMA) REMIC, 2015-65 CZ		3.500	%		9/25/45		134,983		114,177
Federal National Mortgage Association (FNMA) REMIC, 2020-47 GZ		2.000	%		7/25/50		107,782		64,348
Federal National Mortgage Association (FNMA) REMIC, 2020-56 AQ		2.000	%		8/25/50		600,000		465,093
Federal National Mortgage Association (FNMA) REMIC, 2020-56 DI, IO		2.500	%		8/25/50		74,851		12,184

See Notes to Schedule of Investments.

    32  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Federal National Mortgage Association (FNMA) REMIC, 2020-57 TA		2.000	%		4/25/50		240,767	$	207,566
Federal National Mortgage Association (FNMA) REMIC, 2020-96 IN, IO, PAC		3.000	%		1/25/51		1,075,502		179,929
Federal National Mortgage Association (FNMA) REMIC, 2021-28 LB		2.000	%		4/25/51		276,982		223,321
Federal National Mortgage Association (FNMA) REMIC, 2021-43 IO, IO		2.500	%		6/25/51		724,894		113,306
Federal National Mortgage Association (FNMA) REMIC, 2021-65 JA		2.000	%		1/25/46		71,568		62,279
Federal National Mortgage Association (FNMA) REMIC, 2022-22 IO, IO		2.500	%		10/25/51		631,160		109,145
Federal National Mortgage Association (FNMA) REMIC, 2022-86 IO, IO		2.500	%		5/25/50		742,395		103,435
Federal National Mortgage Association (FNMA) REMIC, 2023-2 CI, IO		2.000	%		10/25/50		930,845		114,575
Federal National Mortgage Association (FNMA) STRIPS, 427 C21, IO		2.000	%		3/25/50		819,061		100,513
Freddie Mac Multiclass Certificates Series, 2020-RR07 BX, IO		2.608	%		10/27/28		3,000,000		270,897	(c)
FS Commercial Mortgage Trust, 2023-4SZN B		7.544	%		11/10/39		150,000		156,167	(a)(c)
Government National Mortgage Association (GNMA), 2012-34 SA, IO (-1.000x 1 mo. Term SOFR + 5.936%)		0.607	%		3/20/42		309,438		29,181	(c)
Government National Mortgage Association (GNMA), 2012-43 SN, IO (-1.000x 1 mo. Term SOFR + 6.486%)		1.159	%		4/16/42		161,771		21,438	(c)
Government National Mortgage Association (GNMA), 2013-101 IO, IO		0.221	%		10/16/54		2,108,822		28,902	(c)
Government National Mortgage Association (GNMA), 2013-107 AD		2.833	%		11/16/47		36,197		32,285	(c)
Government National Mortgage Association (GNMA), 2014-17 AM		3.536	%		6/16/48		3,776		3,534	(c)
Government National Mortgage Association (GNMA), 2014-186 IO, IO		0.371	%		8/16/54		325,066		3,255	(c)
Government National Mortgage Association (GNMA), 2015-167 OI, IO		4.000	%		4/16/45		102,930		19,488
Government National Mortgage Association (GNMA), 2016-84 IG, IO, PAC		4.500	%		11/16/45		752,787		151,022

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      33

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Government National Mortgage Association (GNMA), 2016-135 SB, IO (-1.000x 1 mo. Term SOFR + 5.986%)		0.659	%		10/16/46		237,141	$	32,592	(c)
Government National Mortgage Association (GNMA), 2020-118 IO, IO		0.881	%		6/16/62		3,622,027		221,876	(c)
Government National Mortgage Association (GNMA), 2020-103 AD		1.450	%		1/16/63		462,668		349,249
Government National Mortgage Association (GNMA), 2020-123 NI, IO		2.500	%		8/20/50		72,312		9,920
Government National Mortgage Association (GNMA), 2020-127 IN, IO		2.500	%		8/20/50		71,089		9,519
Government National Mortgage Association (GNMA), 2020-129 IE, IO		2.500	%		9/20/50		73,957		9,920
Government National Mortgage Association (GNMA), 2020-160 YI, IO		2.500	%		10/20/50		149,361		20,086
Government National Mortgage Association (GNMA), 2020-175 GI, IO		2.000	%		11/20/50		283,087		30,568
Government National Mortgage Association (GNMA), 2020-H04 FP (1 mo. Term SOFR + 0.614%)		5.944	%		6/20/69		158,039		157,821	(c)
Government National Mortgage Association (GNMA), 2020-H09 FL (1 mo. Term SOFR + 1.264%)		6.594	%		5/20/70		121,023		121,713	(c)
Government National Mortgage Association (GNMA), 2020-H09 NF (1 mo. Term SOFR + 1.364%)		6.694	%		4/20/70		48,448		49,099	(c)
Government National Mortgage Association (GNMA), 2021-57 BI, IO		3.000	%		3/20/51		1,303,417		208,035
Government National Mortgage Association (GNMA), 2021-96 VI, IO		2.500	%		6/20/51		832,226		111,278
Government National Mortgage Association (GNMA), 2021-108 IO, IO		0.967	%		6/16/61		3,281,648		232,793	(c)
Government National Mortgage Association (GNMA), 2021-176 IN, IO		2.500	%		10/20/51		1,160,554		158,342
Government National Mortgage Association (GNMA), 2021-188 PA, PAC		2.000	%		10/20/51		411,386		338,251
Government National Mortgage Association (GNMA), 2021-223 P, PAC-1		2.000	%		6/20/51		411,391		356,468
Government National Mortgage Association (GNMA), 2021-H02 TF (1 mo. Term SOFR + 1.394%)		6.724	%		1/20/71		380,125		390,548	(c)

See Notes to Schedule of Investments.

    34  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
Government National Mortgage Association (GNMA), 2022-3 IO, IO		0.640	%		2/16/61		287,949	$	14,157	(c)
Government National Mortgage Association (GNMA), 2022-63 LM		3.500	%		10/20/50		300,000		250,085
Government National Mortgage Association (GNMA), 2022-99 JW		2.500	%		1/20/52		100,000		80,102
Government National Mortgage Association (GNMA), 2022-113 Z		2.000	%		9/16/61		2,278,297		1,256,405
Government National Mortgage Association (GNMA), 2022-139 AL		4.000	%		7/20/51		300,000		268,762
Government National Mortgage Association (GNMA), 2022-189 PT		2.500	%		10/20/51		276,114		229,291
Government National Mortgage Association (GNMA), 2022-196 BE		3.000	%		10/16/64		100,000		73,634	(c)
Government National Mortgage Association (GNMA), 2022-216 IO, IO		0.749	%		7/16/65		1,485,914		95,903	(c)
Government National Mortgage Association (GNMA), 2022-220 E		3.000	%		10/16/64		200,000		148,779	(c)
Government National Mortgage Association (GNMA), 2023-92 AH		2.000	%		6/16/64		99,984		77,326
GS Mortgage Securities Corp. Trust, 2018-SRP5 B (1 mo. Term SOFR + 3.047%)		8.373	%		9/15/31		471,772		121,157	(a)(c)
GS Mortgage Securities Corp. Trust, 2021-ROSS A (1 mo. Term SOFR + 1.264%)		6.590	%		5/15/26		290,000		270,483	(a)(c)
GS Mortgage Securities Corp. Trust, 2024-70P E		8.666	%		3/10/41		380,000		387,258	(a)(c)
HOMES Trust, 2023-NQM1 A1		6.182	%		1/25/68		317,023		316,773	(a)
ILPT Commercial Mortgage Trust, 2022-LPF2 A (1 mo. Term SOFR + 2.245%)		7.570	%		10/15/39		810,000		810,662	(a)(c)
JPMorgan Chase Commercial Mortgage Securities Trust, 2016-JP2 A4		2.822	%		8/15/49		200,000		188,028
JPMorgan Chase Commercial Mortgage Securities Trust, 2015-FL7 D (PRIME + 0.693%)		9.193	%		5/15/28		114,920		100,073	(a)(c)
JPMorgan Mortgage Trust, 2018-5 A1		3.500	%		10/25/48		63,447		55,994	(a)(c)
KREF Ltd., 2022-FL3 A (1 mo. Term SOFR + 1.450%)		6.776	%		2/17/39		670,000		665,812	(a)(c)
La Quinta Mortgage Trust, 2023-LAQ A (1 mo. Term SOFR + 2.091%)		7.417	%		3/15/36		168,873		169,686	(a)(c)
Legacy Mortgage Asset Trust, 2021-GS5 A1, Step bond (2.250% to 11/25/24 then 5.250%)		2.250	%		7/25/67		85,217		82,495	(a)
Med Trust, 2021-MDLN G (1 mo. Term SOFR + 5.364%)		10.689	%		11/15/38		497,612		498,153	(a)(c)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      35

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
MF1 LLC, 2022-FL9 A (1 mo. Term SOFR + 2.150%)		7.476	%		6/19/37		670,000	$	670,802	(a)(c)
MF1 Ltd., 2022-FL8 A (1 mo. Term SOFR + 1.350%)		6.676	%		2/19/37		485,903		481,354	(a)(c)
MHC Trust, 2021-MHC2 A (1 mo. Term SOFR + 0.964%)		6.289	%		5/15/38		49,888		49,684	(a)(c)
Morgan Stanley Capital I Trust, 2017-ASHF A (1 mo. Term SOFR + 1.147%)		6.473	%		11/15/34		259,915		258,472	(a)(c)
Morgan Stanley Capital I Trust, 2017-H1 C		4.281	%		6/15/50		250,000		221,483	(c)
Morgan Stanley Capital I Trust, 2019-BPR A (1 mo. Term SOFR + 1.992%)		7.318	%		5/15/36		250,105		248,451	(a)(c)
MSWF Commercial Mortgage Trust, 2023-2 A5		6.014	%		12/15/56		360,000		385,752	(c)
MTN Commercial Mortgage Trust, 2022-LPFL A (1 mo. Term SOFR + 1.397%)		6.727	%		3/15/39		240,000		237,770	(a)(c)
New Residential Mortgage Loan Trust, 2016-4A A1		3.750	%		11/25/56		302,372		281,882	(a)(c)
New Residential Mortgage Loan Trust, 2017-6A A1		4.000	%		8/27/57		174,557		165,898	(a)(c)
New Residential Mortgage Loan Trust, 2018- RPL1 M2		3.500	%		12/25/57		240,000		201,415	(a)(c)
New Residential Mortgage Loan Trust, 2021- NQM3 A1		1.156	%		11/27/56		62,429		52,666	(a)(c)
NJ Trust, 2023-GSP A		6.481	%		1/6/29		280,000		292,964	(a)(c)
NRTH Mortgage Trust, 2024-PARK A (1 mo. Term SOFR + 1.641%)		6.941	%		3/15/41		380,000		381,130	(a)(c)
OBX Trust, 2021-NQM2 A1		1.101	%		5/25/61		178,046		142,404	(a)(c)
OBX Trust, 2021-NQM2 A3	��	1.563	%		5/25/61		68,921		55,356	(a)(c)
OBX Trust, 2021-NQM3 A1		1.054	%		7/25/61		99,476		77,654	(a)(c)
OBX Trust, 2022-NQM1 A2		3.001	%		11/25/61		500,000		370,756	(a)(c)
OBX Trust, 2023-NQM3 A1		5.949	%		2/25/63		579,800		577,982	(a)
OBX Trust, 2023-NQM6 A3		6.975	%		7/25/63		248,954		250,679	(a)
OBX Trust, 2024-NQM1 A1		5.928	%		11/25/63		244,407		244,047	(a)
PRKCM Trust, 2021-AFC1 A1		1.510	%		8/25/56		180,662		145,289	(a)(c)
PRKCM Trust, 2021-AFC2 A1		2.071	%		11/25/56		380,559		324,077	(a)(c)
PRKCM Trust, 2022-AFC1 A1A		4.100	%		4/25/57		545,338		524,143	(a)(c)
PRKCM Trust, 2022-AFC2 M1		6.213	%		8/25/57		730,000		717,486	(a)(c)
PRKCM Trust, 2023-AFC1 A1		6.598	%		2/25/58		539,419		539,210	(a)
SFO Commercial Mortgage Trust, 2021-555 A (1 mo. Term SOFR + 1.264%)		6.589	%		5/15/38		500,000		487,220	(a)(c)
SLG Office Trust, 2021-OVA A		2.585	%		7/15/41		337,000		279,134	(a)

See Notes to Schedule of Investments.

    36  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
COLLATERALIZED MORTGAGE OBLIGATIONS(g) - (continued)
SREIT Trust, 2021-MFP2 A (1 mo. Term SOFR + 0.936%)		6.261	%		11/15/36		120,000	$	119,446	(a)(c)
Towd Point Mortgage Trust, 2016-3 B1		4.130	%		4/25/56		110,000		104,715	(a)(c)
Towd Point Mortgage Trust, 2017-4 B2		3.658	%		6/25/57		250,000		206,057	(a)(c)
Towd Point Mortgage Trust, 2019-HY2 A1 (1 mo. Term SOFR + 1.114%)		6.444	%		5/25/58		385,403		392,329	(a)(c)
UBS Commercial Mortgage Trust, 2018-C9 XA, IO		0.912	%		3/15/51		7,627,609		231,148	(c)
Verus Securitization Trust, 2023-4 A1		5.811	%		5/25/68		466,655		464,368	(a)
VLS Commercial Mortgage Trust, 2020-LAB B		2.453	%		10/10/42		210,000		169,731	(a)
Wells Fargo Commercial Mortgage Trust, 2016- C36 A4		3.065	%		11/15/59		310,000		291,381
Wells Fargo Commercial Mortgage Trust, 2017- RB1 XA, IO		1.194	%		3/15/50		1,751,966		48,159	(c)
TOTAL COLLATERALIZED MORTGAGE OBLIGATIONS (Cost - $43,115,974)									40,642,761
U.S. GOVERNMENT & AGENCY OBLIGATIONS - 12.4%
U.S. Government Obligations - 12.4%
U.S. Treasury Bonds		1.125	%		8/15/40		590,000		365,408
U.S. Treasury Bonds		1.375	%		11/15/40		240,000		154,411
U.S. Treasury Bonds		2.000	%		11/15/41		1,750,000		1,228,281
U.S. Treasury Bonds		3.875	%		2/15/43		840,000		776,770
U.S. Treasury Bonds		3.875	%		5/15/43		4,600,000		4,246,914
U.S. Treasury Bonds		3.625	%		8/15/43		80,000		71,187
U.S. Treasury Bonds		4.375	%		8/15/43		2,670,000		2,639,128
U.S. Treasury Bonds		4.750	%		11/15/43		1,540,000		1,597,991
U.S. Treasury Bonds		4.500	%		2/15/44		60,000		60,347	(e)
U.S. Treasury Bonds		3.125	%		8/15/44		110,000		90,125
U.S. Treasury Bonds		2.875	%		8/15/45		110,000		85,667
U.S. Treasury Bonds		3.375	%		11/15/48		160,000		133,759
U.S. Treasury Bonds		3.000	%		2/15/49		900,000		701,982
U.S. Treasury Bonds		2.875	%		5/15/49		290,000		220,695
U.S. Treasury Bonds		2.000	%		2/15/50		200,000		125,328
U.S. Treasury Bonds		1.250	%		5/15/50		670,000		342,904
U.S. Treasury Bonds		1.375	%		8/15/50		2,330,000		1,231,168
U.S. Treasury Bonds		1.625	%		11/15/50		1,990,000		1,124,661
U.S. Treasury Bonds		2.375	%		5/15/51		1,830,000		1,242,899
U.S. Treasury Bonds		2.000	%		8/15/51		1,570,000		973,216
U.S. Treasury Bonds		1.875	%		11/15/51		301,000		180,377
U.S. Treasury Bonds		3.000	%		8/15/52		1,150,000		893,586

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      37

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
U.S. Government Obligations - (continued)
U.S. Treasury Bonds		4.000	%		11/15/52		560,000	$	526,684
U.S. Treasury Bonds		3.625	%		2/15/53		1,150,000		1,010,113
U.S. Treasury Bonds		4.125	%		8/15/53		1,780,000		1,711,303
U.S. Treasury Bonds		4.750	%		11/15/53		2,790,000		2,978,979
U.S. Treasury Bonds		4.250	%		2/15/54		830,000		816,448
U.S. Treasury Notes		2.500	%		4/30/24		710,000		708,362
U.S. Treasury Notes		0.250	%		5/31/25		460,000		435,733
U.S. Treasury Notes		5.000	%		8/31/25		600,000		601,312
U.S. Treasury Notes		5.000	%		9/30/25		20,000		20,052
U.S. Treasury Notes		4.625	%		2/28/26		90,000		89,933
U.S. Treasury Notes		4.625	%		3/15/26		50,000		49,965
U.S. Treasury Notes		0.750	%		8/31/26		270,000		246,850
U.S. Treasury Notes		4.625	%		9/15/26		30,000		30,070
U.S. Treasury Notes		1.250	%		12/31/26		20,000		18,365
U.S. Treasury Notes		4.125	%		9/30/27		50,000		49,621
U.S. Treasury Notes		4.000	%		2/29/28		40,000		39,539
U.S. Treasury Notes		3.375	%		3/31/28		130,000		126,753
U.S. Treasury Notes		1.000	%		7/31/28		1,690,000		1,472,941
U.S. Treasury Notes		4.125	%		7/31/28		40,000		39,757
U.S. Treasury Notes		1.125	%		8/31/28		1,920,000		1,679,250
U.S. Treasury Notes		4.500	%		9/30/28		60,000		60,872
U.S. Treasury Notes		4.875	%		10/31/28		30,000		30,758
U.S. Treasury Notes		3.750	%		12/31/28		50,000		48,942
U.S. Treasury Notes		4.250	%		2/28/29		70,000		70,104
U.S. Treasury Notes		4.375	%		11/30/30		1,930,000		1,946,322
U.S. Treasury Notes		4.000	%		1/31/31		4,540,000		4,481,477
U.S. Treasury Notes		4.250	%		2/28/31		2,110,000		2,114,121
U.S. Treasury Notes		3.500	%		2/15/33		20,000		18,945
U.S. Treasury Notes		4.000	%		2/15/34		190,000		186,883
U.S. Treasury Strip Principal (STRIPS)		0.000	%		5/15/49		950,000		315,445
TOTAL U.S. GOVERNMENT & AGENCY OBLIGATIONS (Cost - $45,177,185)									40,412,703
						FACE AMOUNT†/ UNITS
ASSET-BACKED SECURITIES - 4.4%
AB BSL CLO Ltd., 2023-4A A (3 mo. Term SOFR + 2.000%)		7.318	%		4/20/36		190,000		191,407	(a)(c)
AIMCO CLO, 2017-AA AR (3 mo. Term SOFR + 1.312%)		6.629	%		4/20/34		250,000		249,876	(a)(c)

See Notes to Schedule of Investments.

    38  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
Applebee’s Funding LLC/IHOP Funding LLC, 2023-1A A2		7.824	%		3/5/53		670,000	$	694,520	(a)
Ares Loan Funding Ltd., 2023-ALF4A A1 (3 mo. Term SOFR + 1.750%)		7.097	%		10/15/36		520,000		522,340	(a)(c)
Avis Budget Rental Car Funding AESOP LLC, 2021-1A A		1.380	%		8/20/27		290,000		266,715	(a)
Avis Budget Rental Car Funding AESOP LLC, 2024-1A A		5.360	%		6/20/30		250,000		251,861	(a)
Avis Budget Rental Car Funding AESOP LLC, 2024-3A A		5.230	%		12/20/30		250,000		250,476	(a)
Birch Grove CLO Ltd., 2023-5A A1 (3 mo. Term SOFR + 2.200%)		7.518	%		4/20/35		250,000		252,083	(a)(c)
Birch Grove CLO Ltd., 2023-7A A1 (3 mo. Term SOFR + 1.800%)		7.177	%		10/20/36		290,000		291,816	(a)(c)
Cayuga Park CLO Ltd., 2020-1A AR (3 mo. Term SOFR + 1.382%)		6.698	%		7/17/34		270,000		270,322	(a)(c)
CIFC Funding Ltd., 2021-1A A1 (3 mo. Term SOFR + 1.372%)		6.696	%		4/25/33		260,000		260,588	(a)(c)
Dryden CLO Ltd., 2018-55A A1 (3 mo. Term SOFR + 1.282%)		6.596	%		4/15/31		252,824		253,115	(a)(c)
Edsouth Indenture LLC, 2015-1 A (30 Day Average SOFR + 0.914%)		6.235	%		10/25/56		197,599		196,093	(a)(c)
Empower CLO Ltd., 2023-2A A1 (3 mo. Term SOFR + 2.200%)		7.514	%		7/15/36		390,000		394,862	(a)(c)
Five Guys Holdings Inc., 2023-1A A2		7.549	%		1/26/54		250,000		260,367	(a)
Ford Credit Floorplan Master Owner Trust, 2018-4 A		4.060	%		11/15/30		280,000		269,960
Ford Credit Floorplan Master Owner Trust, 2023-1 A1		4.920	%		5/15/28		440,000		438,263	(a)
Galaxy CLO Ltd., 2024-33A A1 (3 mo. Term SOFR + 1.550%)		6.848	%		4/20/37		415,000		414,949	(a)(c)(e)
Hertz Vehicle Financing LP, 2021-2A A		1.680	%		12/27/27		180,000		164,474	(a)
Hildene Community Funding CDO Ltd., 2015-1A ARR		2.600	%		11/1/35		298,256		246,968	(a)
HPS Loan Management Ltd., 15A-19 A1R (3 mo. Term SOFR + 1.320%)		6.638	%		1/22/35		250,000		250,520	(a)(c)
InStar Leasing LLC, 2021-1A A		2.300	%		2/15/54		94,443		83,708	(a)
Jack in the Box Funding LLC, 2019-1A A23		4.970	%		8/25/49		126,100		119,950	(a)
Mosaic Solar Loans LLC, 2024-1A A		5.500	%		9/20/49		445,948		445,971	(a)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      39

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS		VALUE
ASSET-BACKED SECURITIES - (continued)
Navient Private Education Refi Loan Trust, 2019-A A2B (1 mo. Term SOFR + 1.014%)		6.340	%		1/15/43		75,715	$	75,409	(a)(c)
Navient Student Loan Trust, 2016-3A A3 (30 Day Average SOFR + 1.464%)		6.785	%		6/25/65		209,467		211,836	(a)(c)
Neuberger Berman Loan Advisers CLO Ltd., 2018-29A A1 (3 mo. Term SOFR + 1.392%)		6.701	%		10/19/31		256,834		257,411	(a)(c)
Oak Street Investment Grade Net Lease Fund, 2020-1A A1		1.850	%		11/20/50		208,124		193,171	(a)
Octagon Ltd., 2022-1A A1R (3 mo. Term SOFR + 1.750%)		7.076	%		11/16/36		350,000		352,463	(a)(c)
Palmer Square CLO Ltd., 2022-5A A (3 mo. Term SOFR + 2.000%)		7.318	%		10/20/35		250,000		250,897	(a)(c)
Rad CLO Ltd., 2023-22A A1 (3 mo. Term SOFR + 1.830%)		7.202	%		1/20/37		590,000		594,459	(a)(c)
SLM Private Credit Student Loan Trust, 2006-A A5 (3 mo. Term SOFR + 0.552%)		5.881	%		6/15/39		252,538		245,037	(c)
SLM Student Loan Trust, 2003-10A A4 (90 Day Average SOFR + 0.931%)		6.285	%		12/17/68		79,634		78,857	(a)(c)
SMB Private Education Loan Trust, 2015-C R		0.000	%		9/18/46		1,092		283,580	(a)
SMB Private Education Loan Trust, 2020-A A2A		2.230	%		9/15/37		110,738		103,954	(a)
SMB Private Education Loan Trust, 2021-A A2A1 (1 mo. Term SOFR + 0.844%)		6.170	%		1/15/53		188,475		186,843	(a)(c)
SMB Private Education Loan Trust, 2021-A A2B		1.590	%		1/15/53		292,461		261,461	(a)
SMB Private Education Loan Trust, 2021-A B		2.310	%		1/15/53		178,727		166,910	(a)
SMB Private Education Loan Trust, 2021-C B		2.300	%		1/15/53		165,832		154,363	(a)
SMB Private Education Loan Trust, 2021-E A1A		1.680	%		2/15/51		103,126		93,530	(a)
SMB Private Education Loan Trust, 2023-B B		5.770	%		10/16/56		600,000		596,483	(a)
Storm King Park CLO Ltd., 2022-1A A1 (3 mo. Term SOFR + 2.050%)		7.364	%		10/15/35		250,000		251,362	(a)(c)
Structured Asset Investment Loan Trust, 2003- BC12 2A (1 mo. Term SOFR + 0.834%)		6.164	%		11/25/33		842,300		812,970	(c)
Structured Asset Investment Loan Trust, 2004-7 A8 (1 mo. Term SOFR + 1.314%)		6.644	%		8/25/34		86,649		87,398	(c)
Structured Asset Investment Loan Trust, 2005- HE1 M2 (1 mo. Term SOFR + 0.834%)		6.164	%		7/25/35		143,317		133,123	(c)
Structured Asset Securities Corp. Mortgage Loan Trust, 2007-WF1 A1 (1 mo. Term SOFR + 0.534%)		5.864	%		2/25/37		195,652		189,196	(c)
Symphony CLO Ltd., 2023-40A A1 (3 mo. Term SOFR + 1.640%)		6.984	%		1/14/34		560,000		562,591	(a)(c)

See Notes to Schedule of Investments.

    40  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†/ UNITS			VALUE
ASSET-BACKED SECURITIES - (continued)
Triumph Rail Holdings LLC, 2021-2 A		2.150	%		6/19/51		96,421		$	87,334	(a)
United States Small Business Administration, 2019-25G 1		2.690	%		7/1/44		56,314			49,171
US Bank NA, 2023-1 B		6.789	%		8/25/32		528,551			531,804	(a)
Venture CLO Ltd., 2021-41A A1N (3 mo. Term SOFR + 1.592%)		6.909	%		1/20/34		410,000			409,898	(a)(c)
TOTAL ASSET-BACKED SECURITIES (Cost - $15,592,164)										14,262,715
						FACE AMOUNT†
SOVEREIGN BONDS - 3.6%
Argentina - 0.2%
Argentine Republic Government International Bond, Senior Notes		1.000	%		7/9/29		37,763			20,403
Argentine Republic Government International Bond, Senior Notes, Step bond (0.750% to 7/9/27 then 1.750%)		0.750	%		7/9/30		365,677			192,456
Argentine Republic Government International Bond, Senior Notes, Step bond (3.500% to 7/9/29 then 4.875%)		3.500	%		7/9/41		380,000			153,922
Provincia de Buenos Aires, Senior Notes, Step bond (6.375% to 9/1/24 then 6.625%)		6.375	%		9/1/37		306,388			125,988	(a)
Provincia de Buenos Aires, Senior Notes, Step bond (6.375% to 9/1/24 then 6.625%)		6.375	%		9/1/37		471,216			193,765	(h)
Total Argentina										686,534
Brazil - 0.3%
Brazil Notas do Tesouro Nacional Serie F, Notes		10.000	%		1/1/33		4,364,000	BRL		826,016
Colombia - 0.1%
Colombia Government International Bond, Senior Notes		4.125	%		2/22/42		400,000			271,406
Colombia Government International Bond, Senior Notes		5.625	%		2/26/44		240,000			190,923
Total Colombia										462,329
Israel - 0.1%
Israel Government International Bond, Senior Notes		2.750	%		7/3/30		400,000			345,233
Jamaica - 0.1%
Jamaica Government International Bond, Senior Notes		9.625	%		11/3/30		33,500,000	JMD		231,483

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      41

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
Kenya - 0.2%
Republic of Kenya Government International Bond, Senior Notes		9.750	%		2/16/31		560,000		$	575,050	(a)
Mexico - 2.1%
Mexican Bonos, Bonds		10.000	%		12/5/24		2,000,000	MXN		119,445
Mexican Bonos, Bonds		8.000	%		11/7/47		51,700,000	MXN		2,682,728
Mexican Bonos, Senior Notes		7.750	%		11/23/34		25,230,000	MXN		1,358,151
Mexican Bonos, Senior Notes		7.750	%		11/13/42		41,430,000	MXN		2,117,542
Mexico Government International Bond, Senior Notes		4.600	%		2/10/48		830,000			665,601
Total Mexico										6,943,467
Nigeria - 0.1%
Nigeria Government International Bond, Senior Notes		6.500	%		11/28/27		200,000			188,524	(a)
Peru - 0.0%††
Peruvian Government International Bond, Senior Notes		5.625	%		11/18/50		120,000			119,802
Supranational - 0.4%
Inter-American Development Bank, Senior Notes		7.350	%		10/6/30		109,000,000	INR		1,332,368
TOTAL SOVEREIGN BONDS (Cost - $11,802,068)										11,710,806
SENIOR LOANS - 2.9%
COMMUNICATION SERVICES - 0.2%
Entertainment - 0.1%
UFC Holdings LLC, Term Loan B3 (3 mo. Term SOFR + 3.012%)		8.336	%		4/29/26		168,805			169,250	(c)(i)(j)
Media - 0.1%
Nexstar Media Inc., Term Loan B4 (1 mo. Term SOFR + 2.614%)		7.945	%		9/18/26		114,259			114,418	(c)(i)(j)
Virgin Media Bristol LLC, Term Loan Facility N (1 mo. Term SOFR + 2.614%)		7.940	%		1/31/28		180,000			177,549	(c)(i)(j)
Total Media										291,967
TOTAL COMMUNICATION SERVICES										461,217
CONSUMER DISCRETIONARY - 0.6%
Automobile Components - 0.1%
Clarios Global LP, 2024 Refinancing Term Loan Facility (1 mo. Term SOFR + 3.000%)		8.330	%		5/6/30		249,375			250,310	(c)(i)(j)
Hotels, Restaurants & Leisure - 0.4%
Alterra Mountain Co., 2028 Term Loan B (1 mo. Term SOFR + 3.614%)		8.945	%		8/17/28		165,149			166,044	(c)(i)(j)

See Notes to Schedule of Investments.

    42  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Hotels, Restaurants & Leisure - (continued)
Caesars Entertainment Inc., Incremental Term Loan B1 (3 mo. Term SOFR + 2.750%)		8.040	%		2/6/31		380,000	$	380,771	(c)(i)(j)
Caesars Entertainment Inc., Term Loan B (3 mo. Term SOFR + 3.350%)		8.663	%		2/6/30		29,700		29,822	(c)(i)(j)
Entain Holdings Gibraltar Ltd., USD Term Loan Facility B (3 mo. Term SOFR + 2.600%)		7.909	%		3/29/27		28,879		28,954	(c)(i)(j)
Flutter Entertainment Public Ltd. Co., Term Loan B (3 mo. Term SOFR + 2.350%)		7.659	%		11/25/30		359,100		359,901	(c)(i)(j)
Four Seasons Hotels Ltd., 2024 Repricing Term Loan (1 mo. Term SOFR + 2.100%)		7.430	%		11/30/29		139,646		140,031	(c)(i)(j)
PCI Gaming Authority, Term Loan Facility B (1 mo. Term SOFR + 2.614%)		7.945	%		5/29/26		51,867		52,035	(c)(i)(j)
Scientific Games International Inc., Term Loan B1 (1 mo. Term SOFR + 2.750%)		8.075	%		4/14/29		296,244		297,251	(c)(i)(j)
Total Hotels, Restaurants & Leisure									1,454,809
Specialty Retail - 0.1%
Harbor Freight Tools USA Inc., 2021 Refinancing Term Loan (1 mo. Term SOFR + 2.864%)		8.195	%		10/19/27		309,287		309,445	(c)(i)(j)
TOTAL CONSUMER DISCRETIONARY									2,014,564
CONSUMER STAPLES - 0.0%††
Beverages - 0.0%††
Triton Water Holdings Inc., First Lien Initial Term Loan (3 mo. Term SOFR + 3.512%)		8.814	%		3/31/28		55,964		55,446	(c)(i)(j)
FINANCIALS - 0.7%
Capital Markets - 0.1%
First Eagle Holdings Inc., Term Loan B2 (3 mo. Term SOFR + 3.000%)		8.334	%		2/22/29		46,127		45,736	(c)(i)(j)
Focus Financial Partners LLC, Term Loan B7 (1 mo. Term SOFR + 2.750%)		8.080	%		6/30/28		261,707		261,176	(c)(i)(j)
Total Capital Markets									306,912
Financial Services - 0.4%
Boost Newco Borrower LLC, Initial USD Term Loan (3 mo. Term SOFR + 3.000%)		8.309	%		1/31/31		490,000		492,349	(c)(i)(j)
Castlelake Aviation One Designated Activity Co., Initial Term Loan (3 mo. Term SOFR + 2.500%)		7.829	%		10/22/26		143,204		143,392	(c)(i)(j)
Citadel Securities LP, 2024 Term Loan B (1 mo. Term SOFR + 2.250%)		7.577	%		7/29/30		68,827		68,846	(c)(i)(j)
Deerfield Dakota Holding LLC, First Lien Initial Dollar Term Loan (3 mo. Term SOFR + 3.750%)		9.059	%		4/9/27		210,326		209,552	(c)(i)(j)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      43

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Financial Services - (continued)
Setanta Aircraft Leasing DAC, Term Loan (3 mo. Term SOFR + 2.262%)		7.564	%		11/5/28		490,000	$	491,566	(c)(i)(j)
VFH Parent LLC, Initial Term Loan (1 mo. Term SOFR + 3.100%)		8.430	%		1/13/29		76,755		76,756	(c)(i)(j)
Total Financial Services									1,482,461
Insurance - 0.2%
Acrisure LLC, 2021-2 First Lien Additional Term Loan (1 mo. USD LIBOR + 4.250%)		9.695	%		2/15/27		108,611		109,086	(c)(i)(j)
AmWINS Group Inc., 2023 Incremental Term Loan (1 mo. Term SOFR + 2.864%)		8.195	%		2/19/28		39,500		39,621	(c)(i)(j)
AmWINS Group Inc., Term Loan (1 mo. Term SOFR + 2.364%)		7.695	%		2/19/28		37,667		37,714	(c)(i)(j)
Asurion LLC, New Term Loan B8 (1 mo. Term SOFR + 3.364%)		8.692	%		12/23/26		156,525		153,729	(c)(i)(j)
Asurion LLC, New Term Loan B9 (1 mo. Term SOFR + 3.364%)		8.692	%		7/31/27		67,900		65,415	(c)(i)(j)
Asurion LLC, New Term Loan B11 (1 mo. Term SOFR + 4.350%)		9.677	%		8/21/28		114,168		110,457	(c)(i)(j)
Total Insurance									516,022
TOTAL FINANCIALS									2,305,395
HEALTH CARE - 0.7%
Health Care Providers & Services - 0.3%
Grifols Worldwide Operations USA Inc., Dollar Term Loan B (3 mo. Term SOFR + 2.150%)		7.459	%		11/15/27		196,474		190,665	(c)(i)(j)
Phoenix Guarantor Inc., Term Loan B4 (1 mo. Term SOFR + 3.250%)		8.577	%		2/21/31		429,076		424,041	(c)(i)(j)
Sotera Health Holdings LLC, Term Loan (1 mo. Term SOFR + 2.864%)		8.195	%		12/11/26		290,000		289,516	(c)(i)(j)
Total Health Care Providers & Services									904,222
Health Care Technology - 0.2%
AthenaHealth Group Inc., Initial Term Loan (1 mo. Term SOFR + 3.250%)		8.580	%		2/15/29		267,885		266,024	(c)(i)(j)
Cotiviti Holdings Inc., Term Loan		—			2/24/31		550,000		549,312	(k)
Total Health Care Technology									815,336
Life Sciences Tools & Services - 0.0%††
ICON Luxembourg Sarl, 2024 Repricing Term Loan B (3 mo. Term SOFR + 2.000%)		7.309	%		7/3/28		90,724		91,049	(c)(i)(j)
PRA Health Sciences Inc., Term Loan (3 mo. Term SOFR + 2.000%)		7.309	%		7/3/28		22,604		22,685	(c)(i)(j)
Total Life Sciences Tools & Services									113,734

See Notes to Schedule of Investments.

    44  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†		VALUE
Pharmaceuticals - 0.2%
Gainwell Acquisition Corp., Term Loan B (3 mo. Term SOFR + 4.100%)		9.409	%		10/1/27		477,379	$	457,508	(c)(i)(j)
Jazz Financing Lux Sarl, Dollar Facility Term Loan B1 (1 mo. Term SOFR + 3.114%)		8.445	%		5/5/28		98,871		99,489	(c)(i)(j)
Total Pharmaceuticals									556,997
TOTAL HEALTH CARE									2,390,289
INDUSTRIALS - 0.4%
Building Products - 0.0%††
Quikrete Holdings Inc., Term Loan B1 (1 mo. Term SOFR + 2.864%)		8.195	%		3/19/29		97,924		98,086	(c)(i)(j)
Commercial Services & Supplies - 0.2%
Allied Universal Holdco LLC, USD Term Loan (1 mo. Term SOFR + 3.850%)		9.180	%		5/12/28		424,181		424,141	(c)(i)(j)
Garda World Security Corp., Fourth Additional Term Loan (3 mo. Term SOFR + 4.250%)		9.583	%		2/1/29		48,095		48,245	(c)(i)(j)
GFL Environmental Inc., 2023 Term Loan (3 mo. Term SOFR + 2.500%)		7.816	%		5/31/27		85,917		86,348	(c)(i)(j)
Total Commercial Services & Supplies									558,734
Construction & Engineering - 0.1%
Brown Group Holding LLC, Initial Term Loan (1 mo.Term SOFR + 2.850%)		8.180	%		6/7/28		265,158		265,278	(c)(i)(j)
Ground Transportation - 0.1%
Genesee & Wyoming Inc., Initial Term Loan (3 mo. Term SOFR + 2.100%)		7.402	%		12/30/26		207,769		208,138	(c)(i)(j)
TOTAL INDUSTRIALS									1,130,236
INFORMATION TECHNOLOGY - 0.3%
Electronic Equipment, Instruments & Components - 0.1%
Coherent Corp., Term Loan B (1 mo. Term SOFR + 2.864%)		8.195	%		7/2/29		242,492		243,281	(c)(i)(j)
Software - 0.2%
Cloudera Inc., Term Loan (1 mo. Term SOFR + 3.850%)		9.180	%		10/8/28		35,933		35,855	(c)(i)(j)
DCert Buyer Inc., First Lien Initial Term Loan (1mo. Term SOFR + 4.000%)		9.330	%		10/16/26		417,838		416,404	(c)(i)(j)
Peraton Corp., First Lien Term Loan B (1 mo. Term SOFR + 3.850%)		9.180	%		2/1/28		403,148		403,559	(c)(i)(j)
Total Software									855,818
TOTAL INFORMATION TECHNOLOGY									1,099,099
TOTAL SENIOR LOANS (Cost - $9,422,169)									9,456,246

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      45

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY			RATE			MATURITY DATE		FACE AMOUNT†		VALUE
U.S. TREASURY INFLATION PROTECTED SECURITIES - 0.7%
U.S. Treasury Notes, Inflation Indexed (Cost - $2,426,424)				1.125	%		1/15/33		2,443,520	$	2,292,941
			EXPIRATION DATE			CONTRACTS		NOTIONAL AMOUNT†
PURCHASED OPTIONS - 0.1%
EXCHANGE-TRADED PURCHASED OPTIONS - 0.1%
3-Month SOFR Futures, Call @ $94.938				6/14/24			32		80,000		3,000
3-Month SOFR Futures, Put @ $94.750				4/12/24			62		155,000		775
3-Month SOFR Futures, Put @ $95.500				12/13/24			75		187,500		61,875
U.S. Treasury 2-Year Notes Futures, Call @ $102.625				4/26/24			43		86,000		6,719
U.S. Treasury 2-Year Notes Futures, Call @ $103.500				5/24/24			10		20,000		781
U.S. Treasury 5-Year Notes Futures, Call @ $106.750				4/26/24			64		64,000		39,999
U.S. Treasury 5-Year Notes Futures, Call @ $107.500				4/26/24			16		16,000		4,500
U.S. Treasury 5-Year Notes Futures, Put @ $106.500				4/26/24			42		42,000		11,156
U.S. Treasury 6 to 7-Year Notes Futures, Put @ $109.750				4/5/24			21		21,000		1,641
U.S. Treasury 10-Year Notes Futures, Call @ $110.500				4/26/24			64		64,000		55,000
U.S. Treasury 10-Year Notes Futures, Call @ $111.000				4/26/24			22		22,000		13,063
U.S. Treasury Long-Term Bonds Futures, Call @ $120.000				4/26/24			11		11,000		17,188
U.S. Treasury Long-Term Bonds Futures, Put @ $118.000				4/26/24			16		16,000		7,750
TOTAL EXCHANGE-TRADED PURCHASED OPTIONS (Cost - $307,503)											223,447
	COUNTERPARTY
OTC PURCHASED OPTIONS - 0.0%††
U.S. Dollar/Australian Dollar, Put @ $0.669		BNP Paribas SA		4/17/24			2,487,555		2,487,555		1,489
U.S. Dollar/Japanese Yen, Put @ 143.420JPY		BNP Paribas SA		4/18/24			2,690,000		2,690,000		1,447
TOTAL OTC PURCHASED OPTIONS (Cost - $59,100)											2,936
TOTAL PURCHASED OPTIONS (Cost - $366,603)											226,383

See Notes to Schedule of Investments.

    46  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Portfolio net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT†			VALUE
NON-U.S. TREASURY INFLATION PROTECTED SECURITIES - 0.1%
Uruguay - 0.1%
Uruguay Government International Bond, Senior Notes (Cost - $186,143)		3.875	%		7/2/40		7,241,109	UYU	$	208,228
TOTAL INVESTMENTS BEFORE SHORT-TERM INVESTMENTS (Cost - $335,900,013)										316,733,117
						SHARES
SHORT-TERM INVESTMENTS - 2.5%
Western Asset Premier Institutional Government Reserves, Premium Shares (Cost - $8,290,649)		5.271	%				8,290,649			8,290,649	(l)(m)
TOTAL INVESTMENTS - 99.8% (Cost - $344,190,662)										325,023,766
Other Assets in Excess of Liabilities - 0.2%										556,079
TOTAL NET ASSETS - 100.0%									$	325,579,845

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      47

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

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

†† Represents less than 0.1%.

* Non-income producing security.

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

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

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

(d) Security is fair valued in accordance with procedures approved by the Board of Trustees (Note 1).

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

(f) This security is traded on a to-be-announced (“TBA”) basis. At March 31, 2024, the Portfolio held TBA securities with a total cost of $6,969,004.

(g) 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.

(h) 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 Trustees.

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

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

(k) All or a portion of this loan has not settled as of March 31, 2024. Interest rates are not effective until settlement date. Interest rates shown, if any, are for the settled portion of the loan.

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

(m) In this instance, as defined in the Investment Company Act of 1940, an “Affiliated Company” represents Portfolio 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 Portfolio. At March 31, 2024, the total market value of investments in Affiliated Companies was $8,290,649 and the cost was $8,290,649 (Note 2).

See Notes to Schedule of Investments.

    48  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

Abbreviation(s) used in this schedule:

ACES	— Alternative Credit Enhancement Securities
BRL	— Brazilian Real
CAS	— Connecticut Avenue Securities
CD	— Certificate of Deposit
CDO	— Collateralized Debt Obligation
CLO	— Collateralized Loan Obligation
IBOR	— Interbank Offered Rate
ICE	— Intercontinental Exchange
INR	— Indian Rupee
IO	— Interest Only
JMD	— Jamaican Dollar
JPY	— Japanese Yen
JSC	— Joint Stock Company
LIBOR	— London Interbank Offered Rate
MXN	— Mexican Peso
PAC	— Planned Amortization Class
REMIC	— Real Estate Mortgage Investment Conduit
SOFR	— Secured Overnight Financing Rate
STRIPS	— Separate Trading of Registered Interest and Principal Securities
USD	— United States Dollar
UYU	— Uruguayan Peso

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      49

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d)	March 31, 2024
(Percentages shown based on Fund net assets)

SECURITY	RATE			MATURITY DATE		FACE AMOUNT			VALUE
SECURITIES SOLD SHORT - (0.3)%
MORTGAGE-BACKED SECURITIES - (0.3)%
Federal National Mortgage Association (FNMA) (Proceeds - $(978,547))		2.500	%		4/1/54	$	(1,200,000	)	$	(992,034	)(a)
TOTAL SECURITIES SOLD SHORT (Proceeds - $(978,547))									$	(992,034	)

(a) This security is traded on a to-be-announced (“TBA”) basis and is part of a mortgage dollar roll agreement.

At March 31, 2024, the Portfolio had the following written options contracts:

EXCHANGE-TRADED WRITTEN OPTIONS
SECURITY			EXPIRATION DATE		STRIKE PRICE			CONTRACTS		NOTIONAL AMOUNT		VALUE
3-Month SOFR Futures, Call				6/14/24	$	95.250			64	$	160,000	$	(2,400	)
3-Month SOFR Futures, Call				12/13/24		97.125			75		187,500		(9,375	)
3-Month SOFR Futures, Put				12/13/24		95.000			75		187,500		(20,156	)
U.S. Treasury 2-Year Notes Futures, Call				5/24/24		104.500			10		20,000		(156	)
U.S. Treasury 5-Year Notes Futures, Call				4/26/24		107.750			32		32,000		(6,750	)
U.S. Treasury 5-Year Notes Futures, Call				4/26/24		108.000			42		42,000		(6,562	)
U.S. Treasury 5-Year Notes Futures, Call				4/26/24		108.500			32		32,000		(2,750	)
U.S. Treasury 5-Year Notes Futures, Call				5/24/24		108.500			43		43,000		(9,406	)
U.S. Treasury 5-Year Notes Futures, Put				4/26/24		105.750			42		42,000		(3,938	)
U.S. Treasury 10-Year Notes Futures, Call				4/26/24		111.500			42		42,000		(17,062	)
U.S. Treasury 10-Year Notes Futures, Call				4/26/24		112.500			22		22,000		(3,438	)
U.S. Treasury 10-Year Notes Futures, Put				4/26/24		108.000			23		23,000		(1,438	)
U.S. Treasury Long-Term Bonds Futures, Call				5/24/24		130.000			3		3,000		(375	)
U.S. Treasury Long-Term Bonds Futures, Put				4/26/24		115.000			8		8,000		(750	)
U.S. Treasury Long-Term Bonds Futures, Put				4/26/24		116.000			24		24,000		(3,750	)
TOTAL EXCHANGE-TRADED WRITTEN OPTIONS (Premiums received - $181,025)													(88,306	)
OTC WRITTEN OPTIONS
	COUNTERPARTY
U.S. Dollar/Mexican Peso, Put (Premiums received - $6,962)		Citibank N.A.		6/3/24		16.796	MXN		1,227,912		1,227,912		(17,208	)
TOTAL WRITTEN OPTIONS (Premiums received - $187,987)												$	(105,514	)

Abbreviation(s) used in this schedule:

MXN	—Mexican Peso
SOFR	—Secured Overnight Financing Rate

See Notes to Schedule of Investments.

    50  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

At March 31, 2024, the Portfolio had the following open futures contracts:

	Number of Contracts		Expiration Date		Notional Amount		Market Value		Unrealized Appreciation (Depreciation)
Contracts to Buy:
3-Month SOFR		137		3/25	$	32,746,353	$	32,684,775	$	(61,578	)
3-Month SOFR		237		3/26		56,947,294		57,025,163		77,869
3-Month SOFR		8		6/24		1,892,513		1,893,450		937
Euro-OAT		26		6/24		3,564,921		3,595,181		30,260
U.S. Treasury 10-Year Notes		675		6/24		74,445,713		74,787,894		342,181
U.S. Treasury Long-Term Bonds		42		6/24		4,990,198		5,058,375		68,177
U.S. Treasury Ultra Long- Term Bonds		112		6/24		14,229,102		14,448,000		218,898
United Kingdom Long Gilt Bonds		19		6/24		2,336,727		2,396,646		59,919
										736,663
Contracts to Sell:
Euro-Bund		29		6/24		4,135,744		4,173,013		(37,269	)
Euro-Buxl		8		6/24		1,139,773		1,172,063		(32,290	)
Japanese 10-Year Bonds		4		6/24		3,845,929		3,854,670		(8,741	)
U.S. Treasury 2-Year Notes		12		6/24		2,462,230		2,453,813		8,417
U.S. Treasury 5-Year Notes		268		6/24		28,620,927		28,680,189		(59,262	)
U.S. Treasury Ultra 10-Year Notes		106		6/24		12,055,094		12,148,594		(93,500	)
										(222,645	)
Net unrealized appreciation on open futures contracts									$	514,018

Abbreviation(s) used in this table:

Buxl	— Ultra Long German Bond
OAT	— Obligations Assimilables du Trésor (French Treasury Bonds)
SOFR	—Secured Overnight Financing Rate

At March 31, 2024, the Portfolio had the following open forward foreign currency contracts:

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
NOK	15,357,495		EUR	1,354,501	BNP Paribas SA		4/19/24	$	(47,180	)
AUD	2,133,886		USD	1,430,737	Citibank N.A.		4/19/24		(39,340	)
EUR	964,000		USD	1,052,599	Citibank N.A.		4/19/24		(11,700	)
EUR	1,251,166		USD	1,378,761	Citibank N.A.		4/19/24		(27,789	)
IDR	104,276,250		USD	6,725	Citibank N.A.		4/19/24		(153	)
IDR	3,088,071,318		USD	197,195	Citibank N.A.		4/19/24		(2,565	)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      51

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
USD	531,421		CAD	710,000	Citibank N.A.		4/19/24	$	7,099
USD	301,221		EUR	280,000	Citibank N.A.		4/19/24		(1,115	)
USD	302,608		EUR	280,000	Citibank N.A.		4/19/24		272
USD	488,030		EUR	450,000	Citibank N.A.		4/19/24		2,133
USD	614,374		EUR	570,000	Citibank N.A.		4/19/24		(1,095	)
USD	795,886		EUR	730,000	Citibank N.A.		4/19/24		7,653
USD	806,623		EUR	740,000	Citibank N.A.		4/19/24		7,592
USD	2,127,156		GBP	1,668,279	Citibank N.A.		4/19/24		21,292
USD	6,122		JPY	900,000	Citibank N.A.		4/19/24		158
BRL	760,000		USD	151,725	Goldman Sachs Group Inc.		4/19/24		(521	)
BRL	760,000		USD	152,135	Goldman Sachs Group Inc.		4/19/24		(931	)
BRL	1,860,000		USD	372,056	Goldman Sachs Group Inc.		4/19/24		(2,003	)
BRL	1,930,000		USD	386,267	Goldman Sachs Group Inc.		4/19/24		(2,287	)
BRL	4,899,334		USD	979,459	Goldman Sachs Group Inc.		4/19/24		(4,721	)
CHF	110,000		USD	123,889	Goldman Sachs Group Inc.		4/19/24		(1,629	)
CHF	210,000		USD	238,391	Goldman Sachs Group Inc.		4/19/24		(4,985	)
CHF	210,000		USD	233,120	Goldman Sachs Group Inc.		4/19/24		286
CHF	220,000		USD	244,004	Goldman Sachs Group Inc.		4/19/24		517
CHF	230,000		USD	259,760	Goldman Sachs Group Inc.		4/19/24		(4,124	)
CHF	240,000		USD	270,957	Goldman Sachs Group Inc.		4/19/24		(4,207	)
CHF	260,000		USD	290,184	Goldman Sachs Group Inc.		4/19/24		(1,205	)
CHF	330,000		USD	373,021	Goldman Sachs Group Inc.		4/19/24		(6,239	)
CHF	350,000		USD	397,469	Goldman Sachs Group Inc.		4/19/24		(8,458	)
EUR	30,594		USD	33,392	Goldman Sachs Group Inc.		4/19/24		(357	)
USD	194,360		CHF	170,000	Goldman Sachs Group Inc.		4/19/24		5,412
USD	239,847		CHF	210,000	Goldman Sachs Group Inc.		4/19/24		6,440
USD	328,069		CHF	290,000	Goldman Sachs Group Inc.		4/19/24		5,746
USD	374,547		CHF	330,000	Goldman Sachs Group Inc.		4/19/24		7,765
USD	377,715		CHF	330,000	Goldman Sachs Group Inc.		4/19/24		10,934
USD	399,853		CHF	350,000	Goldman Sachs Group Inc.		4/19/24		10,843
USD	2,529,129		CHF	2,224,875	Goldman Sachs Group Inc.		4/19/24		56,272
USD	337,006		EUR	310,000	Goldman Sachs Group Inc.		4/19/24		2,277
USD	347,947		EUR	320,000	Goldman Sachs Group Inc.		4/19/24		2,420
USD	369,999		EUR	340,000	Goldman Sachs Group Inc.		4/19/24		2,877
USD	976,216		MXN	16,383,373	Goldman Sachs Group Inc.		4/19/24		(6,019	)
MXN	15,572,510		USD	905,837	JPMorgan Chase & Co.		4/19/24		27,784
USD	3,305,054		CNH	23,513,149	JPMorgan Chase & Co.		4/19/24		65,163
USD	574,899		CNY	4,079,198	JPMorgan Chase & Co.		4/19/24		9,164
USD	206,224		IDR	3,192,347,568	JPMorgan Chase & Co.		4/19/24		5,022

See Notes to Schedule of Investments.

    52  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

Currency Purchased		Currency Sold			Counterparty	Settlement Date		Unrealized Appreciation (Depreciation)
BRL	2,080,000		USD	416,275	Morgan Stanley & Co. Inc.		4/19/24	$	(2,452	)
CAD	4,093,755		USD	3,057,591	Morgan Stanley & Co. Inc.		4/19/24		(34,423	)
INR	40,204,747		USD	481,667	Morgan Stanley & Co. Inc.		4/19/24		114
JPY	774,138,307		USD	5,426,660	Morgan Stanley & Co. Inc.		4/19/24		(296,090	)
USD	111,047		CAD	150,000	Morgan Stanley & Co. Inc.		4/19/24		274
USD	222,568		CAD	300,000	Morgan Stanley & Co. Inc.		4/19/24		1,023
USD	259,119		CAD	350,000	Morgan Stanley & Co. Inc.		4/19/24		650
USD	259,534		CAD	350,000	Morgan Stanley & Co. Inc.		4/19/24		1,065
USD	317,172		CAD	430,000	Morgan Stanley & Co. Inc.		4/19/24		(376	)
USD	574,743		CAD	780,000	Morgan Stanley & Co. Inc.		4/19/24		(1,274	)
USD	125,162		JPY	18,390,000	Morgan Stanley & Co. Inc.		4/19/24		3,283
USD	707,466		JPY	103,210,000	Morgan Stanley & Co. Inc.		4/19/24		23,446
Net unrealized depreciation on open forward foreign currency contracts								$	(218,262	)

Abbreviation(s) used in this table:

AUD	— Australian Dollar
BRL	— Brazilian Real
CAD	— Canadian Dollar
CHF	— Swiss Franc
CNH	— Chinese Offshore Yuan
CNY	— Chinese Yuan Renminbi
EUR	— Euro
GBP	— British Pound
IDR	— Indonesian Rupiah
INR	— Indian Rupee
JPY	— Japanese Yen
MXN	— Mexican Peso
NOK	— Norwegian Krone
USD	— United States Dollar

At March 31, 2024, the Portfolio had the following open swap contracts:

OTC INTEREST RATE SWAPS

SWAP COUNTERPARTY

NOTIONAL AMOUNT*

TERMINATION DATE

PAYMENTS MADE BY THE PORTFOLIO†

PAYMENTS RECEIVED BY THE PORTFOLIO†

MARKET VALUE

UPFRONT PREMIUMS PAID (RECEIVED)

UNREALIZED DEPRECIATION

JPMorgan Chase & Co.

29,330,000

BRL

1/2/29

BRL-CDI**

10.230%**

$

(80,456

)

—

$

(80,456

)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      53

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

CENTRALLY CLEARED INTEREST RATE SWAPS
NOTIONAL AMOUNT*	TERMINATION DATE		PAYMENTS MADE BY THE PORTFOLIO†		PAYMENTS RECEIVED BY THE PORTFOLIO†		MARKET VALUE			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED APPRECIATION (DEPRECIATION)
1,842,000		9/30/24		Daily SOFR Compound annually		3.500% annually	$	(17,033)		$	(3,169	)	$	(13,864	)
28,260,000MXN		7/18/29		28-Day MXN TIIE- Banxico every 28 days		7.450% every 28 days		(99,448)			6,308			(105,756	)
47,980,000MXN		7/20/29		28-Day MXN TIIE- Banxico every 28 days		7.440% every 28 days		(170,214)			13,018			(183,232	)
17,549,000		2/28/31		3.870% annually		Daily SOFR Compound annually		(31,009	)		(47,885	)		16,876
941,000		2/15/47		1.520% annually		Daily SOFR Compound annually		319,108			(12,013	)		331,121
3,523,000		2/15/48		2.600% annually		Daily SOFR Compound annually		623,099			303,002			320,097
3,484,000		2/15/48		3.050% annually		Daily SOFR Compound annually		371,327			131,251			240,076
5,086,000		5/15/48		3.150% annually		Daily SOFR Compound annually		461,906			(217,323	)		679,229
Total							$	1,457,736		$	173,189		$	1,284,547

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - SELL PROTECTION1
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS RECEIVED BY THE PORTFOLIO†	MARKET VALUE3		UPFRONT PREMIUMS PAID (RECEIVED)		UNREALIZED APPRECIATION
Markit CDX.NA.IG.42 Index	$	32,637,000		6/20/29	1.000% quarterly	$	737,232	$	718,099	$	19,133

See Notes to Schedule of Investments.

    54  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

CENTRALLY CLEARED CREDIT DEFAULT SWAPS ON CREDIT INDICES - BUY PROTECTION4
REFERENCE ENTITY	NOTIONAL AMOUNT2		TERMINATION DATE		PERIODIC PAYMENTS MADE BY THE PORTFOLIO†	MARKET VALUE3			UPFRONT PREMIUMS PAID (RECEIVED)			UNREALIZED DEPRECIATION
Markit CDX.NA.HY.42 Index	$	5,947,700		6/20/29	5.000% quarterly	$	(428,721	)	$	(417,401	)	$	(11,320	)

1 If the Portfolio is a seller of protection and a credit event occurs, as defined under the terms of that particular swap agreement, the Portfolio 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 Portfolio could be required to pay as a seller of credit protection or receive as a buyer of credit protection if a credit event occurs as defined under the terms of that particular swap agreement.

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

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

† Percentage shown is an annual percentage rate.

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

** One time payment made at termination date.

Reference rate(s) and their value(s) as of period end used in this table:

Reference Index	Reference Rate
28-Day MXN TIIE-Banxico		11.249	%
BRL-CDI		10.650	%
Daily SOFR Compound		5.340	%

Abbreviation(s) used in this table:

BRL	— Brazilian Real
BRL - CDI	— Brazilian Cetip InterBank Deposit Rate
MXN	— Mexican Peso
SOFR	— Secured Overnight Financing Rate
TIIE	— Tasa de Intere’s Interbancaria de Equilibrio (Equilibrium Interbanking Interest Rate)

See Notes to Schedule of Investments.

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      55

WESTERN ASSET CORE PLUS VIT PORTFOLIO

Schedule of investments (unaudited) (cont’d) March 31, 2024

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

See Notes to Schedule of Investments.

    56  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

Notes to Schedule of Investments (unaudited)

1. Organization and significant accounting policies

Western Asset Core Plus VIT Portfolio (the “Portfolio”) is a separate diversified investment series of Legg Mason Partners Variable Income Trust (the “Trust”). The Trust, a Maryland statutory trust, is registered under the Investment Company Act of 1940, as amended (the “1940 Act”), as an open-end management investment company.

Shares of the Portfolio may only be purchased or redeemed through variable annuity contracts and variable life insurance policies offered by the separate accounts of participating insurance companies or through eligible pension or other qualified plans.

The Portfolio 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 Portfolio 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 Portfolio holds securities or other assets that are denominated in a foreign currency, the Portfolio 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 Portfolio calculates its net asset value, the Portfolio values these securities as determined in accordance with procedures approved by the Portfolio’s Board of Trustees.

Pursuant to policies adopted by the Board of Trustees, the Portfolio’s manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Portfolio’s manager is assisted by the Global Fund Valuation

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      57

Notes to Schedule of Investments (unaudited) (continued)

Committee (the “Valuation Committee”). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Portfolio’s pricing policies, and reporting to the Portfolio’s manager and the Board of Trustees. When determining the reliability of third party pricing information for investments owned by the Portfolio, 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 Trustees, 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 Trustees quarterly.

The Portfolio 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.

    58  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

Notes to Schedule of Investments (unaudited) (continued)

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 Portfolio’s own assumptions in determining the fair value of investments)

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

The following is a summary of the inputs used in valuing the Portfolio’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		—	$	103,293,744		—	$	103,293,744
Mortgage-Backed Securities		—		94,226,590		—		94,226,590
Collateralized Mortgage Obligations		—		40,642,761		—		40,642,761
U.S. Government & Agency Obligations		—		40,412,703		—		40,412,703
Asset-Backed Securities		—		14,262,715		—		14,262,715
Sovereign Bonds		—		11,710,806		—		11,710,806
Senior Loans		—		9,456,246		—		9,456,246
U.S. Treasury Inflation Protected Securities		—		2,292,941		—		2,292,941
Purchased Options:
Exchange-Traded Purchased Options	$	223,447		—		—		223,447
OTC Purchased Options		—		2,936		—		2,936
Non-U.S. Treasury Inflation Protected Securities		—		208,228		—		208,228
Total Long-Term Investments		223,447		316,509,670		—		316,733,117
Short-Term Investments†		8,290,649		—		—		8,290,649
Total Investments	$	8,514,096	$	316,509,670		—	$	325,023,766

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      59

Notes to Schedule of Investments (unaudited) (continued)

ASSETS (cont’d)
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Other Financial Instruments:
Futures Contracts††	$	806,658		—		—	$	806,658
Forward Foreign Currency Contracts††		—	$	294,976		—		294,976
Centrally Cleared Interest Rate Swaps††		—		1,587,399		—		1,587,399
Centrally Cleared Credit Default Swaps on Credit Indices - Sell Protection††		—		19,133		—		19,133
Total Other Financial Instruments	$	806,658	$	1,901,508		—	$	2,708,166
Total	$	9,320,754	$	318,411,178		—	$	327,731,932
LIABILITIES
DESCRIPTION	QUOTED PRICES (LEVEL 1)		OTHER SIGNIFICANT OBSERVABLE INPUTS (LEVEL 2)		SIGNIFICANT UNOBSERVABLE INPUTS (LEVEL 3)		TOTAL
Securities Sold Short†		—	$	992,034		—	$	992,034
Other Financial Instruments:
Written Options:
Exchange-Traded Written Options	$	88,306		—		—		88,306
OTC Written Options		—		17,208		—		17,208
Futures Contracts††		292,640		—		—		292,640
Forward Foreign Currency Contracts††		—		513,238		—		513,238
OTC Interest Rate Swaps		—		80,456		—		80,456
Centrally Cleared Interest Rate Swaps††		—		302,852		—		302,852
Centrally Cleared Credit Default Swaps on Credit Indices - Buy Protection††		—		11,320		—		11,320
Total Other Financial Instruments	$	380,946	$	925,074		—	$	1,306,020
Total	$	380,946	$	1,917,108		—	$	2,298,054

† See Schedule of Investments for additional detailed categorizations.

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

    60  Western Asset Core Plus VIT Portfolio 2024 Quarterly Report

Notes to Schedule of Investments (unaudited) (continued)

2. Transactions with affiliated company

As defined by the 1940 Act, an affiliated company is one in which the Portfolio owns 5% or more of the outstanding voting securities, or a company which is under common ownership or control with the Portfolio. The following company was considered an affiliated company for all or some portion of the period ended March 31, 2024. The following transactions were effected in such company for the period ended March 31, 2024.

	Affiliate Value at December 31, 2023		Purchased				Sold				Realized Gain (Loss)		Dividend Income		Net Increase (Decrease) in Unrealized Appreciation (Depreciation)		Affiliate Value at March 31, 2024
			Cost		Shares		Proceeds		Shares
Western Asset Premier Institutional Government Reserves, Premium Shares	$	8,466,316	$	32,333,496		32,333,496	$	32,509,163		32,509,163		—	$	114,008		—	$	8,290,649

Western Asset Core Plus VIT Portfolio 2024 Quarterly Report      61