# EDGAR Filing Document

**Accession Number:** 0000764624
**File Stem:** 0001752724-25-182148
**Filing Date:** 2025-7
**Character Count:** 121373
**Document Hash:** 77214e00cc5e56ee705e1083107e5446
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-25-182148.hdr.sgml**: 20250729

**ACCESSION NUMBER**: 0001752724-25-182148

**CONFORMED SUBMISSION TYPE**: NPORT-P

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250530

**FILED AS OF DATE**: 20250729

**DATE AS OF CHANGE**: 20250729

**PERIOD START**: 20260228

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS INCOME TRUST
- **CENTRAL INDEX KEY:** 0000764624

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0731

**FILING VALUES:**
- **FORM TYPE:** NPORT-P
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-04254
- **FILM NUMBER:** 251159866

**BUSINESS ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018
- **BUSINESS PHONE:** 1-877-721-1926

**MAIL ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEGG MASON PARTNERS INCOME FUNDS
- **DATE OF NAME CHANGE:** 20060407

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY INCOME FUNDS
- **DATE OF NAME CHANGE:** 19941228

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SMITH BARNEY SHEARSON INCOME FUNDS
- **DATE OF NAME CHANGE:** 19931015

## Series and Classes Contracts Data

### Western Asset Short Duration Municipal Income Fund (Series ID: S000016249)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000044916 | Class A      | SHDAX           |
| C000044917 | Class C      | SHDLX           |
| C000044918 | Class I      | SMDYX           |
| C000183975 | Class IS     | SHDSX           |
| C000222209 | Class C2     | CIABX           |

## Nport-Ex

Schedule of Investments (unaudited)

May 31, 2025

 **Western Asset Short Duration Municipal Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity <br>Date<br>| Face <br>Amount<br>| Value |
| **Municipal Bonds — 98.5%** | **Municipal Bonds — 98.5%** | **Municipal Bonds — 98.5%** | **Municipal Bonds — 98.5%** | **Municipal Bonds — 98.5%** |
| *Alabama — 3.3%* | *Alabama — 3.3%* | *Alabama — 3.3%* | *Alabama — 3.3%* | *Alabama — 3.3%* |
| &nbsp;&nbsp;&nbsp; Black Belt Energy Gas District, AL, Gas Project Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Project No 7, Series C-2 (SIFMA Municipal Swap Index Yield + 0.350%) | &nbsp;&nbsp; 2.320% | &nbsp;&nbsp; 12/1/26 | &nbsp;&nbsp; $750000 | &nbsp;&nbsp;&nbsp; $733083<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1285223<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series C | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1559978<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2062785<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Southeast Alabama Gas Supply District, Gas Supply Revenue, Project No 1, Series <br> A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/1/27 | &nbsp;&nbsp; 2285000 | &nbsp;&nbsp;&nbsp; 2343440<br>|
| &nbsp;&nbsp;&nbsp; Southeast Energy Authority, AL, Cooperative District, Energy Supply Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/27 | &nbsp;&nbsp; 750000 | &nbsp;&nbsp;&nbsp; 762716<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1534098<br>|
| *Total Alabama* | *Total Alabama* | *Total Alabama* | *Total Alabama* | &nbsp;&nbsp; *10281323* |
| *Arizona — 2.8%* | *Arizona — 2.8%* | *Arizona — 2.8%* | *Arizona — 2.8%* | *Arizona — 2.8%* |
| &nbsp;&nbsp;&nbsp; Chandler, AZ, IDA Revenue, Intel Corp. Project  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 3765000 | &nbsp;&nbsp;&nbsp; 3709625<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Coconino County, AZ, Pollution Control Corp. Revenue, Nevada Power Company <br> Project, Series A, Refunding  | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 3/31/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 999335<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Maricopa County, AZ, IDA Revenue, Banner Health Obligation Group, Series A, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/31 | &nbsp;&nbsp; 2025000 | &nbsp;&nbsp;&nbsp; 2073655<br>|
| &nbsp;&nbsp;&nbsp; Maricopa County, AZ, Pollution Control Corp. Revenue, Public Service Company of <br> New Mexico Palo Verde Project, Series A, Refunding  | &nbsp;&nbsp; 0.875% | &nbsp;&nbsp; 10/1/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1918748<br> <sup>(a)(b)</sup><br>|
| *Total Arizona* | *Total Arizona* | *Total Arizona* | *Total Arizona* | &nbsp;&nbsp; *8701363* |
| *California — 7.9%* | *California — 7.9%* | *California — 7.9%* | *California — 7.9%* | *California — 7.9%* |
| &nbsp;&nbsp;&nbsp; California State Community Choice Financing Authority Revenue, Clean Energy <br> Project, Green Bonds, Climate Bond Certified, Series A  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; 2400000 | &nbsp;&nbsp;&nbsp; 2398378<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State Infrastructure & Economic Development Bank Revenue, Los <br> Angeles County Museum of Art, Series B, Refunding (SIFMA Municipal Swap <br> Index Yield + 0.700%) | &nbsp;&nbsp; 2.670% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1495581<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; California State PCFA Solid Waste Disposal Revenue, Series B-2, Refunding  | &nbsp;&nbsp; 3.125% | &nbsp;&nbsp; 11/3/25 | &nbsp;&nbsp; 975000 | &nbsp;&nbsp;&nbsp; 968761<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Fairfield-Suisun, CA, USD, Counties of Napa and Solano, GO, CAB, BAN  | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 2/1/29 | &nbsp;&nbsp; 2040000 | &nbsp;&nbsp;&nbsp; 1826597<br>|
| &nbsp;&nbsp;&nbsp; Gilroy, CA, USD, GO, Unrefunded, AG  | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 1840000 | &nbsp;&nbsp;&nbsp; 1553469<br>|
| &nbsp;&nbsp;&nbsp; Long Beach, CA, Bond Finance Authority Revenue, Natural Gas Purchase, Series B <br> (3 mo. Term SOFR x 0.670 + 0.262%) | &nbsp;&nbsp; 4.524% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2022774<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Los Angeles, CA, Department of Airports Revenue, Los Angeles International <br> Airport, Subordinated, Series C  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/15/29 | &nbsp;&nbsp; 4690000 | &nbsp;&nbsp;&nbsp; 4843863<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Northern California Energy Authority, Commodity Supply Revenue, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/28 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp; 1093511<br>|
| &nbsp;&nbsp;&nbsp; San Francisco, CA, City & County Airport Commission, International Airport <br> Revenue, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/30 | &nbsp;&nbsp; 4825000 | &nbsp;&nbsp;&nbsp; 5110900<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; San Mateo County, CA, Community College District Revenue, GO, CAB, Series C, <br> NATL  | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 9/1/29 | &nbsp;&nbsp; 2530000 | &nbsp;&nbsp;&nbsp; 2215531<br>|
| &nbsp;&nbsp;&nbsp; Ventura County, CA, Rio Elementary School District, GO, BAN, BAM  | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp; 1505000 | &nbsp;&nbsp;&nbsp; 1365269<br>|
| *Total California* | *Total California* | *Total California* | *Total California* | &nbsp;&nbsp; *24894634* |
| *Colorado — 4.4%* | *Colorado — 4.4%* | *Colorado — 4.4%* | *Colorado — 4.4%* | *Colorado — 4.4%* |
| &nbsp;&nbsp;&nbsp; City & County of Denver, CO, Airport System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/29 | &nbsp;&nbsp; 3025000 | &nbsp;&nbsp;&nbsp; 3201385<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/27 | &nbsp;&nbsp; 3615000 | &nbsp;&nbsp;&nbsp; 3745735<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Subordinated, Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 6510000 | &nbsp;&nbsp;&nbsp; 6734749<br> <sup>(c)</sup><br>|
| *Total Colorado* | *Total Colorado* | *Total Colorado* | *Total Colorado* | &nbsp;&nbsp; *13681869* |

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

May 31, 2025

 **Western Asset Short Duration Municipal Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Connecticut — 5.7%* | *Connecticut — 5.7%* | *Connecticut — 5.7%* | *Connecticut — 5.7%* | *Connecticut — 5.7%* |
| &nbsp;&nbsp;&nbsp; Connecticut State HEFA Revenue, Yale University Issue, Series T-2  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; $3000000 | &nbsp;&nbsp;&nbsp; $3240989<br>|
| &nbsp;&nbsp;&nbsp; Connecticut State Housing Finance Authority Revenue, Housing Mortgage Finance <br> Program, Series A, Refunding  | &nbsp;&nbsp; 0.600% | &nbsp;&nbsp; 11/15/26 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 805180<br>|
| &nbsp;&nbsp;&nbsp; Connecticut State, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 4/15/29 | &nbsp;&nbsp; 4275000 | &nbsp;&nbsp;&nbsp; 4430052<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D, BAM-TCRS | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 8/15/30 | &nbsp;&nbsp; 7250000 | &nbsp;&nbsp;&nbsp; 7310075<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/15/28 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2054496<br>|
| *Total Connecticut* | *Total Connecticut* | *Total Connecticut* | *Total Connecticut* | &nbsp;&nbsp; *17840792* |
| *Delaware — 0.3%* | *Delaware — 0.3%* | *Delaware — 0.3%* | *Delaware — 0.3%* | *Delaware — 0.3%* |
| &nbsp;&nbsp;&nbsp; Delaware State EDA Revenue, Delmarva Power & Light Co. Project, Series A, <br> Refunding | &nbsp;&nbsp; 1.050% | &nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp;&nbsp; *1012189*<br> <sup>(a)(b)</sup><br>|
| *District of Columbia — 2.0%* | *District of Columbia — 2.0%* | *District of Columbia — 2.0%* | *District of Columbia — 2.0%* | *District of Columbia — 2.0%* |
| &nbsp;&nbsp;&nbsp; District of Columbia Revenue, Children's Hospital Obligated Group Issue, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/15/28 | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp;&nbsp; 1050238<br>|
| &nbsp;&nbsp;&nbsp; Metropolitan Washington, DC, Airports Authority Aviation Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/27 | &nbsp;&nbsp; 1955000 | &nbsp;&nbsp;&nbsp; 2024151<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 3040000 | &nbsp;&nbsp;&nbsp; 3213650<br> <sup>(c)</sup><br>|
| *Total District of Columbia* | *Total District of Columbia* | *Total District of Columbia* | *Total District of Columbia* | &nbsp;&nbsp; *6288039* |
| *Florida — 2.1%* | *Florida — 2.1%* | *Florida — 2.1%* | *Florida — 2.1%* | *Florida — 2.1%* |
| &nbsp;&nbsp;&nbsp; Florida State Insurance Assistance Interlocal Agency Inc., Insurance Assessment <br> Revenue, Series A-1, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/28 | &nbsp;&nbsp; 4500000 | &nbsp;&nbsp;&nbsp; 4597010<br>|
| &nbsp;&nbsp;&nbsp; Greater Orlando, FL, Aviation Authority, Airport Facilities Revenue, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/30 | &nbsp;&nbsp; 1665000 | &nbsp;&nbsp;&nbsp; 1747263<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Palm Beach County, FL, Health Facilities Authority Revenue, Toby & Leon <br> Cooperman Sinai Residences of Boca Raton Expansion, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 6/1/26 | &nbsp;&nbsp; 230000 | &nbsp;&nbsp;&nbsp; 229694<br>|
| *Total Florida* | *Total Florida* | *Total Florida* | *Total Florida* | &nbsp;&nbsp; *6573967* |
| *Georgia — 3.6%* | *Georgia — 3.6%* | *Georgia — 3.6%* | *Georgia — 3.6%* | *Georgia — 3.6%* |
| &nbsp;&nbsp;&nbsp; Atlanta, GA, Airport Passenger Facility Charge, General Revenue, Subordinate <br> Lien, Series D, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 5000000 | &nbsp;&nbsp;&nbsp; 5092000<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Burke County, GA, Development Authority, PCR, Oglethorpe Power Corp. Vogtle <br> Project, Series A, Refunding  | &nbsp;&nbsp; 3.600% | &nbsp;&nbsp; 2/1/30 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1247581<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Main Street Natural Gas Inc., GA, Gas Supply Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/26 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1022604<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 518151<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; 650000 | &nbsp;&nbsp;&nbsp; 670610<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series E | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/31 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1581247<br>|
| &nbsp;&nbsp;&nbsp; Monroe County, GA, Development Authority, PCR, Georgia Power Co. Plant <br> Scherer Project  | &nbsp;&nbsp; 2.250% | &nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp; 1150000 | &nbsp;&nbsp;&nbsp; 1148051<br>|
| *Total Georgia* | *Total Georgia* | *Total Georgia* | *Total Georgia* | &nbsp;&nbsp; *11280244* |
| *Illinois — 4.3%* | *Illinois — 4.3%* | *Illinois — 4.3%* | *Illinois — 4.3%* | *Illinois — 4.3%* |
| &nbsp;&nbsp;&nbsp; Cook County, IL, School District No 87, Berkeley, GO, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/25 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 504692<br>|
| &nbsp;&nbsp;&nbsp; Illinois State Finance Authority Revenue, The Carle Foundation, Series A, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/15/25 | &nbsp;&nbsp; 2170000 | &nbsp;&nbsp;&nbsp; 2176627<br>|
| &nbsp;&nbsp;&nbsp; Illinois State, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/1/28 | &nbsp;&nbsp; 2090000 | &nbsp;&nbsp;&nbsp; 2175729<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 1415000 | &nbsp;&nbsp;&nbsp; 1490506<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series D | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/1/27 | &nbsp;&nbsp; 3430000 | &nbsp;&nbsp;&nbsp; 3569301<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series of October 2016, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/1/28 | &nbsp;&nbsp; 2170000 | &nbsp;&nbsp;&nbsp; 2223492<br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration Municipal Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* | *Illinois — continued* |
| &nbsp;&nbsp;&nbsp; Metropolitan Pier & Exposition Authority, IL, Revenue, McCormick Place Expansion <br> Project, Series B, Refunding  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 12/15/27 | &nbsp;&nbsp; $1270000 | &nbsp;&nbsp;&nbsp; $1289569<br>|
| *Total Illinois* | *Total Illinois* | *Total Illinois* | *Total Illinois* | &nbsp;&nbsp; *13429916* |
| *Indiana — 4.3%* | *Indiana — 4.3%* | *Indiana — 4.3%* | *Indiana — 4.3%* | *Indiana — 4.3%* |
| &nbsp;&nbsp;&nbsp; Indiana State Finance Authority: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental Facilities Revenue, Indianapolis Power & Light Company Project, <br> Series B, Refunding | &nbsp;&nbsp; 0.650% | &nbsp;&nbsp; 8/1/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 993836<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Environmental Improvement Revenue, United States Steel Corp. Project, Series <br> A, Refunding | &nbsp;&nbsp; 4.125% | &nbsp;&nbsp; 12/1/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1501116<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Health System Revenue, Indiana University Health, Series B | &nbsp;&nbsp; 2.250% | &nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp; 1320000 | &nbsp;&nbsp;&nbsp; 1317987<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Indiana State Finance Authority Revenue, Wastewater Utility, First Lien, CWA <br> Authority Project, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/29 | &nbsp;&nbsp; 1310000 | &nbsp;&nbsp;&nbsp; 1420947<br>|
| &nbsp;&nbsp;&nbsp; Indianapolis, IN, Local Public Improvement Bond Bank: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indianapolis Airport Authority Project, Series D, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/29 | &nbsp;&nbsp; 7030000 | &nbsp;&nbsp;&nbsp; 7344026<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Indianapolis Airport Authority Project, Series I-2, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/26 | &nbsp;&nbsp; 1005000 | &nbsp;&nbsp;&nbsp; 1015373<br> <sup>(c)</sup><br>|
| *Total Indiana* | *Total Indiana* | *Total Indiana* | *Total Indiana* | &nbsp;&nbsp; *13593285* |
| *Iowa — 0.2%* | *Iowa — 0.2%* | *Iowa — 0.2%* | *Iowa — 0.2%* | *Iowa — 0.2%* |
| &nbsp;&nbsp;&nbsp; Iowa Tobacco Settlement Authority Revenue, Asset-Backed Senior Bonds, Class 1, <br> Series A-2, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/28 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; *517330*<br>|
| *Kentucky — 1.6%* | *Kentucky — 1.6%* | *Kentucky — 1.6%* | *Kentucky — 1.6%* | *Kentucky — 1.6%* |
| &nbsp;&nbsp;&nbsp; Trimble County, KY, Environmental Facilities Revenue, Louisville Gas and Electric <br> Company Project, Series A  | &nbsp;&nbsp; 4.700% | &nbsp;&nbsp; 6/1/27 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2012980<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Trimble County, KY, PCR, Louisville Gas and Electric Company Project, Series A, <br> Refunding  | &nbsp;&nbsp; 0.625% | &nbsp;&nbsp; 9/1/26 | &nbsp;&nbsp; 3250000 | &nbsp;&nbsp;&nbsp; 3111090<br>|
| *Total Kentucky* | *Total Kentucky* | *Total Kentucky* | *Total Kentucky* | &nbsp;&nbsp; *5124070* |
| *Louisiana — 3.3%* | *Louisiana — 3.3%* | *Louisiana — 3.3%* | *Louisiana — 3.3%* | *Louisiana — 3.3%* |
| &nbsp;&nbsp;&nbsp; Louisiana State Offshore Terminal Authority Revenue, Deep Water Port Bonds, <br> Series A, Refunding  | &nbsp;&nbsp; 4.150% | &nbsp;&nbsp; 9/1/27 | &nbsp;&nbsp; 4000000 | &nbsp;&nbsp;&nbsp; 4025017<br>|
| &nbsp;&nbsp;&nbsp; St. John the Baptist Parish, LA, State Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series A-3, Refunding | &nbsp;&nbsp; 2.200% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 35000 | &nbsp;&nbsp;&nbsp; 34329<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series B-2, Refunding | &nbsp;&nbsp; 2.375% | &nbsp;&nbsp; 7/1/26 | &nbsp;&nbsp; 4050000 | &nbsp;&nbsp;&nbsp; 3979717<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marathon Oil Corp. Project, Series C, Refunding | &nbsp;&nbsp; 3.300% | &nbsp;&nbsp; 7/3/28 | &nbsp;&nbsp; 2515000 | &nbsp;&nbsp;&nbsp; 2465676<br> <sup>(a)(b)</sup><br>|
| *Total Louisiana* | *Total Louisiana* | *Total Louisiana* | *Total Louisiana* | &nbsp;&nbsp; *10504739* |
| *Maryland — 1.1%* | *Maryland — 1.1%* | *Maryland — 1.1%* | *Maryland — 1.1%* | *Maryland — 1.1%* |
| &nbsp;&nbsp;&nbsp; Maryland State Health & Higher EFA Revenue, University of Maryland, Medical <br> System Issue, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; 1770000 | &nbsp;&nbsp;&nbsp; 1891773<br>|
| &nbsp;&nbsp;&nbsp; Maryland State, GO, State and Local Facilities Loan, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/31 | &nbsp;&nbsp; 1420000 | &nbsp;&nbsp;&nbsp; 1492027<br>|
| *Total Maryland* | *Total Maryland* | *Total Maryland* | *Total Maryland* | &nbsp;&nbsp; *3383800* |
| *Michigan — 2.1%* | *Michigan — 2.1%* | *Michigan — 2.1%* | *Michigan — 2.1%* | *Michigan — 2.1%* |
| &nbsp;&nbsp;&nbsp; Michigan State Finance Authority Revenue, Mclaren Health Care, Series D-1, <br> Refunding  | &nbsp;&nbsp; 1.100% | &nbsp;&nbsp; 10/15/27 | &nbsp;&nbsp; 1325000 | &nbsp;&nbsp;&nbsp; 1247028<br>|
| &nbsp;&nbsp;&nbsp; Michigan State HDA Revenue, Series A  | &nbsp;&nbsp; 1.500% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 1730000 | &nbsp;&nbsp;&nbsp; 1551765<br>|
| &nbsp;&nbsp;&nbsp; Michigan State Strategic Fund Ltd. Obligation Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Consumers Energy Co. Project, Remarketing | &nbsp;&nbsp; 0.875% | &nbsp;&nbsp; 10/8/26 | &nbsp;&nbsp; 1335000 | &nbsp;&nbsp;&nbsp; 1252422<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Graphic Packaging International, LLC, Coated Recycled Board Machine Project, <br> Green Bonds | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 10/1/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1987802<br> <sup>(a)(b)(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

May 31, 2025

 **Western Asset Short Duration Municipal Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Michigan — continued* | *Michigan — continued* | *Michigan — continued* | *Michigan — continued* | *Michigan — continued* |
| &nbsp;&nbsp;&nbsp; Wayne County, MI, Airport Authority Revenue, Series F, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/27 | &nbsp;&nbsp; $400000 | &nbsp;&nbsp;&nbsp; $400835<br> <sup>(c)</sup><br>|
| *Total Michigan* | *Total Michigan* | *Total Michigan* | *Total Michigan* | &nbsp;&nbsp; *6439852* |
| *Mississippi — 0.2%* | *Mississippi — 0.2%* | *Mississippi — 0.2%* | *Mississippi — 0.2%* | *Mississippi — 0.2%* |
| &nbsp;&nbsp;&nbsp; Mississippi State Development Bank Revenue, Jackson Infrastructure Project | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/25 | &nbsp;&nbsp; 590000 | &nbsp;&nbsp;&nbsp; *590957*<br>|
| *Missouri — 0.3%* | *Missouri — 0.3%* | *Missouri — 0.3%* | *Missouri — 0.3%* | *Missouri — 0.3%* |
| &nbsp;&nbsp;&nbsp; Missouri State Environmental Improvement & Energy Resources Authority <br> Revenue, Kansas City Power & Light Co. Project | &nbsp;&nbsp; 3.500% | &nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp;&nbsp; *999323*<br> <sup>(a)(b)(c)</sup><br>|
| *Nebraska — 1.0%* | *Nebraska — 1.0%* | *Nebraska — 1.0%* | *Nebraska — 1.0%* | *Nebraska — 1.0%* |
| &nbsp;&nbsp;&nbsp; Sarpy County, NE, School District No 37, Gretna Public Schools, GO, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/15/30 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2085622<br>|
| &nbsp;&nbsp;&nbsp; Washington County, NE, Wastewater and Solid Waste Disposal Facilities <br> Revenue, Cargill Incorporated Project, Refunding  | &nbsp;&nbsp; 0.900% | &nbsp;&nbsp; 9/1/25 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1192145<br> <sup>(a)(b)(c)</sup><br>|
| *Total Nebraska* | *Total Nebraska* | *Total Nebraska* | *Total Nebraska* | &nbsp;&nbsp; *3277767* |
| *New Jersey — 6.6%* | *New Jersey — 6.6%* | *New Jersey — 6.6%* | *New Jersey — 6.6%* | *New Jersey — 6.6%* |
| &nbsp;&nbsp;&nbsp; New Jersey State EDA Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Motor Vehicle Surcharges Subordinate, Series A, BAM, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/27 | &nbsp;&nbsp; 445000 | &nbsp;&nbsp;&nbsp; 458514<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Motor Vehicle Surcharges Subordinate, Series A, BAM, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/28 | &nbsp;&nbsp; 5005000 | &nbsp;&nbsp;&nbsp; 5155243<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Natural Gas Facilities Revenue, Series C, Refunding | &nbsp;&nbsp; 2.450% | &nbsp;&nbsp; 4/1/26 | &nbsp;&nbsp; 2250000 | &nbsp;&nbsp;&nbsp; 2226760<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; New Jersey State Transportation Trust Fund Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation Program, Series CC | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1622640<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation System, CAB, Series A, BAM-TCRS | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 12/15/27 | &nbsp;&nbsp; 5035000 | &nbsp;&nbsp;&nbsp; 4638484<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation System, CAB, Series C, AG | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 12/15/29 | &nbsp;&nbsp; 2785000 | &nbsp;&nbsp;&nbsp; 2384020<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Transportation System, CAB, Series C, AG | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 12/15/32 | &nbsp;&nbsp; 2840000 | &nbsp;&nbsp;&nbsp; 2152251<br>|
| &nbsp;&nbsp;&nbsp; New Jersey State, GO, COVID-19 Emergency Bonds, Series A  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/29 | &nbsp;&nbsp; 1865000 | &nbsp;&nbsp;&nbsp; 2009432<br>|
| *Total New Jersey* | *Total New Jersey* | *Total New Jersey* | *Total New Jersey* | &nbsp;&nbsp; *20647344* |
| *New Mexico — 0.5%* | *New Mexico — 0.5%* | *New Mexico — 0.5%* | *New Mexico — 0.5%* | *New Mexico — 0.5%* |
| &nbsp;&nbsp;&nbsp; New Mexico State Municipal Energy Acquisition Authority, Gas Supply Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/28 | &nbsp;&nbsp; 640000 | &nbsp;&nbsp;&nbsp; 665481<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series 2025, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 5/1/29 | &nbsp;&nbsp; 850000 | &nbsp;&nbsp;&nbsp; 891554<br>|
| *Total New Mexico* | *Total New Mexico* | *Total New Mexico* | *Total New Mexico* | &nbsp;&nbsp; *1557035* |
| *New York — 14.0%* | *New York — 14.0%* | *New York — 14.0%* | *New York — 14.0%* | *New York — 14.0%* |
| &nbsp;&nbsp;&nbsp; Hudson Yards Infrastructure Corp., NY, Second Indenture Revenue, Series A, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/35 | &nbsp;&nbsp; 2285000 | &nbsp;&nbsp;&nbsp; 2334794<br>|
| &nbsp;&nbsp;&nbsp; Long Island, NY, Power Authority Electric System Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 9/1/29 | &nbsp;&nbsp; 5215000 | &nbsp;&nbsp;&nbsp; 5015138<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 0.850% | &nbsp;&nbsp; 9/1/25 | &nbsp;&nbsp; 4950000 | &nbsp;&nbsp;&nbsp; 4909761<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 1.500% | &nbsp;&nbsp; 9/1/26 | &nbsp;&nbsp; 4580000 | &nbsp;&nbsp;&nbsp; 4460505<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/1/27 | &nbsp;&nbsp; 5625000 | &nbsp;&nbsp;&nbsp; 5789791<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; MTA, NY, Transportation Revenue, Green Bonds, Series B-1, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 11/15/35 | &nbsp;&nbsp; 1645000 | &nbsp;&nbsp;&nbsp; 1691356<br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, HDC, MFH Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series F-2, FHA | &nbsp;&nbsp; 0.600% | &nbsp;&nbsp; 7/1/25 | &nbsp;&nbsp; 7465000 | &nbsp;&nbsp;&nbsp; 7443489<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Green Bonds, Series G, FHA, Refunding | &nbsp;&nbsp; 0.600% | &nbsp;&nbsp; 11/1/26 | &nbsp;&nbsp; 1075000 | &nbsp;&nbsp;&nbsp; 1011873<br>|
| &nbsp;&nbsp;&nbsp; New York City, NY, Transportation Development Corp. Revenue, American <br> Airlines Inc., John F. Kennedy International Airport Project, Refunding  | &nbsp;&nbsp; 2.250% | &nbsp;&nbsp; 8/1/26 | &nbsp;&nbsp; 1245000 | &nbsp;&nbsp;&nbsp; 1223341<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Port Authority of New York & New Jersey Revenue, Consolidated Series 207, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 9/15/32 | &nbsp;&nbsp; 390000 | &nbsp;&nbsp;&nbsp; 400618<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration Municipal Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* | *New York — continued* |
| &nbsp;&nbsp;&nbsp; Triborough Bridge & Tunnel Authority, NY, Revenue, Payroll Mobility Tax BAN, <br> Series B-2  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 3/15/29 | &nbsp;&nbsp; $9000000 | &nbsp;&nbsp;&nbsp; $9682874<br>|
| *Total New York* | *Total New York* | *Total New York* | *Total New York* | &nbsp;&nbsp; *43963540* |
| *North Carolina — 1.8%* | *North Carolina — 1.8%* | *North Carolina — 1.8%* | *North Carolina — 1.8%* | *North Carolina — 1.8%* |
| &nbsp;&nbsp;&nbsp; Charlotte-Mecklenburg Hospital Authority, NC, Health Care System Revenue, <br> Atrium Health, Series E, Remarketing  | &nbsp;&nbsp; 0.800% | &nbsp;&nbsp; 10/31/25 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1974294<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; North Carolina State Turnpike Authority, Triangle Expressway System Turnpike <br> Revenue, Senior Lien, Refunding, AG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/33 | &nbsp;&nbsp; 3440000 | &nbsp;&nbsp;&nbsp; 3617157<br>|
| *Total North Carolina* | *Total North Carolina* | *Total North Carolina* | *Total North Carolina* | &nbsp;&nbsp; *5591451* |
| *Ohio — 1.6%* | *Ohio — 1.6%* | *Ohio — 1.6%* | *Ohio — 1.6%* | *Ohio — 1.6%* |
| &nbsp;&nbsp;&nbsp; Columbus Ohio Regional Airport Authority Revenue, John Glenn Columbus <br> International Airport, Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 500000 | &nbsp;&nbsp;&nbsp; 528883<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ohio State Air Quality Development Authority Revenue, American Electric Power <br> Co. Project, Series A, Refunding  | &nbsp;&nbsp; 3.750% | &nbsp;&nbsp; 1/1/29 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 989678<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Ohio State Hospital Revenue, Cleveland Clinic Health System Obligated Group, <br> Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 3445000 | &nbsp;&nbsp;&nbsp; 3590283<br>|
| *Total Ohio* | *Total Ohio* | *Total Ohio* | *Total Ohio* | &nbsp;&nbsp; *5108844* |
| *Oregon — 1.7%* | *Oregon — 1.7%* | *Oregon — 1.7%* | *Oregon — 1.7%* | *Oregon — 1.7%* |
| &nbsp;&nbsp;&nbsp; Clackamas County, OR, School District No 62, Oregon City, GO, CAB, Series A, <br> SBG  | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 6/15/29 | &nbsp;&nbsp; 400000 | &nbsp;&nbsp;&nbsp; 352241<br>|
| &nbsp;&nbsp;&nbsp; Lane County, OR, School District No 1, Pleasant Hill, GO, CAB, Series B, SBG  | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 6/15/27 | &nbsp;&nbsp; 1320000 | &nbsp;&nbsp;&nbsp; 1233661<br>|
| &nbsp;&nbsp;&nbsp; Salem-Keizer, OR, School District No 24J, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Marion and Polk Counties, SBG | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/15/31 | &nbsp;&nbsp; 2050000 | &nbsp;&nbsp;&nbsp; 2145741<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, SBG | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 6/15/28 | &nbsp;&nbsp; 845000 | &nbsp;&nbsp;&nbsp; 764311<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, SBG | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 6/15/30 | &nbsp;&nbsp; 1050000 | &nbsp;&nbsp;&nbsp; 880889<br>|
| *Total Oregon* | *Total Oregon* | *Total Oregon* | *Total Oregon* | &nbsp;&nbsp; *5376843* |
| *Pennsylvania — 0.4%* | *Pennsylvania — 0.4%* | *Pennsylvania — 0.4%* | *Pennsylvania — 0.4%* | *Pennsylvania — 0.4%* |
| &nbsp;&nbsp;&nbsp; Pennsylvania State Economic Development Financing Authority Revenue, Sewage <br> Sludge Disposal, Philadelphia Biosolids Facility Project, Refunding | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 1/1/26 | &nbsp;&nbsp; 1220000 | &nbsp;&nbsp;&nbsp; *1221936*<br>|
| *South Carolina — 1.1%* | *South Carolina — 1.1%* | *South Carolina — 1.1%* | *South Carolina — 1.1%* | *South Carolina — 1.1%* |
| &nbsp;&nbsp;&nbsp; Patriots Energy Group Financing Agency, SC, Gas Supply Revenue, Subseries B-2, <br> Refunding (SOFR x 0.670 + 1.900%) | &nbsp;&nbsp; 4.788% | &nbsp;&nbsp; 3/1/31 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 2062713<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; South Carolina State Public Service Authority Revenue, Santee Cooper, Series B, <br> Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/28 | &nbsp;&nbsp; 1375000 | &nbsp;&nbsp;&nbsp; 1463231<br>|
| *Total South Carolina* | *Total South Carolina* | *Total South Carolina* | *Total South Carolina* | &nbsp;&nbsp; *3525944* |
| *Tennessee — 4.1%* | *Tennessee — 4.1%* | *Tennessee — 4.1%* | *Tennessee — 4.1%* | *Tennessee — 4.1%* |
| &nbsp;&nbsp;&nbsp; Metropolitan Government of Nashville & Davidson County, TN, HEFA Revenue, <br> The Vanderbilt University, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 10/1/34 | &nbsp;&nbsp; 1010000 | &nbsp;&nbsp;&nbsp; 1143822<br>|
| &nbsp;&nbsp;&nbsp; Tennessee State Energy Acquisition Corp., Natural Gas Revenue, Series 2018  | &nbsp;&nbsp; 4.000% | &nbsp;&nbsp; 11/1/25 | &nbsp;&nbsp; 9475000 | &nbsp;&nbsp;&nbsp; 9479688<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Tennessee State Housing Development Agency Residential Finance Program <br> Revenue, Series B  | &nbsp;&nbsp; 3.550% | &nbsp;&nbsp; 7/1/30 | &nbsp;&nbsp; 2090000 | &nbsp;&nbsp;&nbsp; 2075002<br>|
| *Total Tennessee* | *Total Tennessee* | *Total Tennessee* | *Total Tennessee* | &nbsp;&nbsp; *12698512* |
| *Texas — 11.5%* | *Texas — 11.5%* | *Texas — 11.5%* | *Texas — 11.5%* | *Texas — 11.5%* |
| &nbsp;&nbsp;&nbsp; Central Texas Turnpike System Revenue, Series C, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/15/31 | &nbsp;&nbsp; 1000000 | &nbsp;&nbsp;&nbsp; 1095732<br>|
| &nbsp;&nbsp;&nbsp; Fort Bend, TX, ISD, GO: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding, PSF - GTD | &nbsp;&nbsp; 0.875% | &nbsp;&nbsp; 8/1/25 | &nbsp;&nbsp; 1135000 | &nbsp;&nbsp;&nbsp; 1129846<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding, PSF - GTD | &nbsp;&nbsp; 0.720% | &nbsp;&nbsp; 8/1/26 | &nbsp;&nbsp; 820000 | &nbsp;&nbsp;&nbsp; 789395<br> <sup>(a)(b)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

May 31, 2025

 **Western Asset Short Duration Municipal Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Texas — continued* | *Texas — continued* | *Texas — continued* | *Texas — continued* | *Texas — continued* |
| &nbsp;&nbsp;&nbsp; Galveston, TX, Wharves & Terminal Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; $375000 | &nbsp;&nbsp;&nbsp; $388459<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/30 | &nbsp;&nbsp; 550000 | &nbsp;&nbsp;&nbsp; 572698<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; First Lien, Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/31 | &nbsp;&nbsp; 1015000 | &nbsp;&nbsp;&nbsp; 1057649<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Goose Creek, TX, Consolidated ISD, GO, Series B, PSF - GTD  | &nbsp;&nbsp; 0.600% | &nbsp;&nbsp; 8/17/26 | &nbsp;&nbsp; 1040000 | &nbsp;&nbsp;&nbsp; 1007947<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Mission, TX, EDC, Solid Waste Disposal Revenue, Graphic Packaging <br> International, LLC Project, Green Bonds  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 6/1/30 | &nbsp;&nbsp; 300000 | &nbsp;&nbsp;&nbsp; 306600<br> <sup>(a)(b)(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; North Texas Tollway Authority Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, First Tier, Series D, Refunding, AG | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 1/1/30 | &nbsp;&nbsp; 2920000 | &nbsp;&nbsp;&nbsp; 2486503<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; CAB, First Tier, Series D, Refunding, AG | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 1/1/31 | &nbsp;&nbsp; 2840000 | &nbsp;&nbsp;&nbsp; 2324174<br>|
| &nbsp;&nbsp;&nbsp; San Antonio, TX, Electric and Gas Revenue, Junior Lien, Refunding  | &nbsp;&nbsp; 1.750% | &nbsp;&nbsp; 12/1/25 | &nbsp;&nbsp; 2850000 | &nbsp;&nbsp;&nbsp; 2820202<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Texas State: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Gas Acquisition & Supply Corp. I, Gas Supply Revenue, Senior Lien, <br> Series B (3 mo. Term SOFR x 0.670 + 0.262%) | &nbsp;&nbsp; 3.756% | &nbsp;&nbsp; 12/15/26 | &nbsp;&nbsp; 2035000 | &nbsp;&nbsp;&nbsp; 2034320<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Gas Acquisition & Supply Corp. II, Gas Supply Revenue, Series C (3 <br> mo. Term SOFR x 0.660 + 0.863%) | &nbsp;&nbsp; 3.700% | &nbsp;&nbsp; 9/15/27 | &nbsp;&nbsp; 795000 | &nbsp;&nbsp;&nbsp; 795475<br> <sup>(b)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Gas Acquisition & Supply Corp. III, Gas Supply Revenue, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/15/27 | &nbsp;&nbsp; 3750000 | &nbsp;&nbsp;&nbsp; 3854968<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Gas Acquisition & Supply Corp. IV, Gas Supply Revenue, Series B | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/1/26 | &nbsp;&nbsp; 1200000 | &nbsp;&nbsp;&nbsp; 1211812<br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Municipal Gas Acquisition & Supply Corp. IV, Gas Supply Revenue, Series B | &nbsp;&nbsp; 5.250% | &nbsp;&nbsp; 1/1/27 | &nbsp;&nbsp; 1250000 | &nbsp;&nbsp;&nbsp; 1284644<br>|
| &nbsp;&nbsp;&nbsp; Texas State College Student Loan Bonds, GO, Series 2016  | &nbsp;&nbsp; 5.500% | &nbsp;&nbsp; 8/1/28 | &nbsp;&nbsp; 3535000 | &nbsp;&nbsp;&nbsp; 3612017<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp; Texas State Transportation Commission Revenue, Highway Fund, First Tier <br> Revenue, Series B, Refunding  | &nbsp;&nbsp; 0.560% | &nbsp;&nbsp; 4/1/26 | &nbsp;&nbsp; 1500000 | &nbsp;&nbsp;&nbsp; 1453705<br>|
| &nbsp;&nbsp;&nbsp; Texas State Transportation Commission Revenue, Mobility Fund, GO, Series B  | &nbsp;&nbsp; 0.650% | &nbsp;&nbsp; 4/1/26 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2427265<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; Texas State Water Financial Assistance Revenue, GO, Series B, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/31 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2594970<br>|
| &nbsp;&nbsp;&nbsp; Troy, TX, ISD, GO, CAB, Refunding, PSF - GTD  | &nbsp;&nbsp; 0.000% | &nbsp;&nbsp; 8/1/29 | &nbsp;&nbsp; 925000 | &nbsp;&nbsp;&nbsp; 789729<br>|
| &nbsp;&nbsp;&nbsp; University of Houston, TX, Board of Regents System, Consolidated Revenue, <br> Series A, Refunding  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 2/15/30 | &nbsp;&nbsp; 2115000 | &nbsp;&nbsp;&nbsp; 2139415<br>|
| *Total Texas* | *Total Texas* | *Total Texas* | *Total Texas* | &nbsp;&nbsp; *36177525* |
| *Utah — 1.1%* | *Utah — 1.1%* | *Utah — 1.1%* | *Utah — 1.1%* | *Utah — 1.1%* |
| &nbsp;&nbsp;&nbsp; Salt Lake City, UT, Airport Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; 2500000 | &nbsp;&nbsp;&nbsp; 2632829<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series A | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/32 | &nbsp;&nbsp; 705000 | &nbsp;&nbsp;&nbsp; 715671<br> <sup>(c)</sup><br>|
| *Total Utah* | *Total Utah* | *Total Utah* | *Total Utah* | &nbsp;&nbsp; *3348500* |
| *Virginia — 0.8%* | *Virginia — 0.8%* | *Virginia — 0.8%* | *Virginia — 0.8%* | *Virginia — 0.8%* |
| &nbsp;&nbsp;&nbsp; Wise County, VA, IDA, Solid Waste & Sewage Disposal Revenue, Virginia Electric <br> & Power Co. Project, Series A | &nbsp;&nbsp; 0.750% | &nbsp;&nbsp; 9/2/25 | &nbsp;&nbsp; 2650000 | &nbsp;&nbsp;&nbsp;&nbsp; *2621859*<br> <sup>(a)(b)</sup><br>|
| *Washington — 2.8%* | *Washington — 2.8%* | *Washington — 2.8%* | *Washington — 2.8%* | *Washington — 2.8%* |
| &nbsp;&nbsp;&nbsp; Central Puget Sound, WA, Regional Transit Authority Revenue, Sales Tax & Motor <br> Vehicle Excise Tax Improvement, Green Bonds, Series S-2A (SIFMA Municipal <br> Swap Index Yield + 0.200%) | &nbsp;&nbsp; 2.170% | &nbsp;&nbsp; 11/1/26 | &nbsp;&nbsp; 2000000 | &nbsp;&nbsp;&nbsp; 1987399<br> <sup>(a)(b)</sup><br>|
| &nbsp;&nbsp;&nbsp; King County, WA, Issaquah School District No 411, GO, SBG  | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 12/1/32 | &nbsp;&nbsp; 2390000 | &nbsp;&nbsp;&nbsp; 2438762<br>|
| &nbsp;&nbsp;&nbsp; Port of Seattle, WA, Intermediate Lien Revenue: |  |  |  |  |
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Private Activity, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 8/1/28 | &nbsp;&nbsp; 1060000 | &nbsp;&nbsp;&nbsp; 1106184<br> <sup>(c)</sup><br>|
| &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Series B, Refunding | &nbsp;&nbsp; 5.000% | &nbsp;&nbsp; 7/1/29 | &nbsp;&nbsp; 2020000 | &nbsp;&nbsp;&nbsp; 2127326<br> <sup>(c)</sup><br>|

---

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

 **Western Asset Short Duration Municipal Income Fund**

(Percentages shown based on Fund net assets)

---

| | | | | |
|:---|:---|:---|:---|:---|
| Security | Rate | Maturity<br> Date<br>| Face<br> Amount<br>| Value |
| *Washington — continued* | *Washington — continued* | *Washington — continued* | *Washington — continued* | *Washington — continued* |
| &nbsp;&nbsp;&nbsp; Seattle, WA, Municipal Light & Power Revenue, Series B, Refunding (SIFMA <br> Municipal Swap Index Yield + 0.250%) | &nbsp;&nbsp; 2.220% | &nbsp;&nbsp; 11/1/26 | &nbsp;&nbsp; $1000000 | &nbsp;&nbsp;&nbsp; $988588<br> <sup>(a)(b)</sup><br>|
| *Total Washington* | *Total Washington* | *Total Washington* | *Total Washington* | &nbsp;&nbsp; *8648259* |
| **Total Investments before Short-Term Investments (Cost — $310,067,888)** | **Total Investments before Short-Term Investments (Cost — $310,067,888)** | **Total Investments before Short-Term Investments (Cost — $310,067,888)** | **Total Investments before Short-Term Investments (Cost — $310,067,888)** | &nbsp;&nbsp; **308903051** |
| **Short-Term Investments — 0.6%** | **Short-Term Investments — 0.6%** | **Short-Term Investments — 0.6%** | **Short-Term Investments — 0.6%** | **Short-Term Investments — 0.6%** |
| **Municipal Bonds — 0.6%** | **Municipal Bonds — 0.6%** | **Municipal Bonds — 0.6%** | **Municipal Bonds — 0.6%** | **Municipal Bonds — 0.6%** |
| *Florida — 0.0%††* | *Florida — 0.0%††* | *Florida — 0.0%††* | *Florida — 0.0%††* | *Florida — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Highlands County, FL, Health Facilities Authority Hospital Revenue, Adventist <br> Health System/Sunbelt Obligated Group, Series I-2, Refunding | &nbsp;&nbsp; 1.950% | &nbsp;&nbsp; 11/15/32 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; *100000*<br> <sup>(d)(e)</sup><br>|
| *Illinois — 0.2%* | *Illinois — 0.2%* | *Illinois — 0.2%* | *Illinois — 0.2%* | *Illinois — 0.2%* |
| &nbsp;&nbsp;&nbsp; Illinois State Finance Authority Revenue, University of Chicago Medical Center, <br> Series D-1, LOC - TD Bank N.A. | &nbsp;&nbsp; 2.850% | &nbsp;&nbsp; 8/1/43 | &nbsp;&nbsp; 600000 | &nbsp;&nbsp;&nbsp;&nbsp; *600000*<br> <sup>(d)(e)</sup><br>|
| *New York — 0.1%* | *New York — 0.1%* | *New York — 0.1%* | *New York — 0.1%* | *New York — 0.1%* |
| &nbsp;&nbsp;&nbsp; New York City, NY, Multi-Family Rental HDC Revenue, Related-Sierra <br> Development, Series A, LOC - FNMA | &nbsp;&nbsp; 2.150% | &nbsp;&nbsp; 3/15/33 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; *100000*<br> <sup>(c)(d)(e)</sup><br>|
| *North Carolina — 0.0%††* | *North Carolina — 0.0%††* | *North Carolina — 0.0%††* | *North Carolina — 0.0%††* | *North Carolina — 0.0%††* |
| &nbsp;&nbsp;&nbsp; Charlotte-Mecklenburg Hospital Authority, NC, Atrium Health Care System <br> Revenue, Series E, Refunding, LOC - Royal Bank of Canada | &nbsp;&nbsp; 3.000% | &nbsp;&nbsp; 1/15/42 | &nbsp;&nbsp; 100000 | &nbsp;&nbsp;&nbsp;&nbsp; *100000*<br> <sup>(d)(e)</sup><br>|
| *Wisconsin — 0.3%* | *Wisconsin — 0.3%* | *Wisconsin — 0.3%* | *Wisconsin — 0.3%* | *Wisconsin — 0.3%* |
| &nbsp;&nbsp;&nbsp; Wisconsin State Housing and EDA Revenue, Series E, Refunding, SPA - FHLB | &nbsp;&nbsp; 1.850% | &nbsp;&nbsp; 9/1/35 | &nbsp;&nbsp; 900000 | &nbsp;&nbsp;&nbsp; 900000<br> <sup>(c)(d)(e)</sup><br>|
| **Total Short-Term Investments (Cost — $1,800,000)** | **Total Short-Term Investments (Cost — $1,800,000)** | **Total Short-Term Investments (Cost — $1,800,000)** | **Total Short-Term Investments (Cost — $1,800,000)** | &nbsp;&nbsp; **1800000** |
| **Total Investments — 99.1% (Cost — $311,867,888)** | **Total Investments — 99.1% (Cost — $311,867,888)** | **Total Investments — 99.1% (Cost — $311,867,888)** | **Total Investments — 99.1% (Cost — $311,867,888)** | &nbsp;&nbsp; **310703051** |
| &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.9% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.9% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.9% | &nbsp;&nbsp;&nbsp; Other Assets in Excess of Liabilities — 0.9% | &nbsp;&nbsp;&nbsp; 2688936 |
| **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | **Total Net Assets — 100.0%** | &nbsp;&nbsp; **$313391987** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

---

| | |
|:---|:---|
| †† | Represents less than 0.1%. |
| <sup>(a)</sup> | Maturity date shown represents the mandatory tender date. |
| <sup>(b)</sup> | Variable rate security. Interest rate disclosed is as of the most recent information available. Certain variable rate securities are not based on a published <br> 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 <br> reference rate and spread in their description above.<br>|
| <sup>(c)</sup> | Income from this issue is considered a preference item for purposes of calculating the alternative minimum tax ("AMT"). |
| <sup>(d)</sup> | Variable rate demand obligations ("VRDOs") have a demand feature under which the Fund can tender them back to the issuer or liquidity provider on no <br> more than 7 days notice. The interest rate generally resets on a daily or weekly basis and is determined on the specific interest rate reset date by the <br> remarketing agent, pursuant to a formula specified in official documents for the VRDO, or set at the highest rate allowable as specified in official <br> documents for the VRDO. VRDOs are benchmarked to the Securities Industry and Financial Markets Association ("SIFMA") Municipal Swap Index. The <br> SIFMA Municipal Swap Index is compiled from weekly interest rate resets of tax-exempt VRDOs reported to the Municipal Securities Rulemaking Board's <br> Short-term Obligation Rate Transparency System.<br>|
| <sup>(e)</sup> | Maturity date shown is the final maturity date. The security may be sold back to the issuer before final maturity. |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

Schedule of Investments (unaudited) (cont'd)

May 31, 2025

 **Western Asset Short Duration Municipal Income Fund**

---

| | | |
|:---|:---|:---|
| **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** | **Abbreviation(s) used in this schedule:** |
| AG |  | Assured Guaranty — Insured Bonds |
| BAM |  | Build America Mutual — Insured Bonds |
| BAN |  | Bond Anticipation Notes |
| CAB |  | Capital Appreciation Bonds |
| CWA |  | Clean Water Act |
| EDA |  | Economic Development Authority |
| EDC |  | Economic Development Corporation |
| EFA |  | Educational Facilities Authority |
| FHA |  | Federal Housing Administration — Insured Bonds |
| FHLB |  | Federal Home Loan Bank |
| FNMA |  | Federal National Mortgage Association |
| GO |  | General Obligation |
| GTD |  | Guaranteed |
| HDA |  | Housing Development Authority |
| HDC |  | Housing Development Corporation |
| HEFA |  | Health & Educational Facilities Authority |
| IDA |  | Industrial Development Authority |
| ISD |  | Independent School District |
| LOC |  | Letter of Credit |
| MFH |  | Multi-Family Housing |
| MTA |  | Metropolitan Transportation Authority |
| NATL |  | National Public Finance Guarantee Corporation — Insured Bonds |
| PCFA |  | Pollution Control Financing Authority |
| PCR |  | Pollution Control Revenue |
| PSF |  | Permanent School Fund |
| SBG |  | School Bond Guaranty |
| SIFMA |  | Securities Industry and Financial Markets Association |
| SOFR |  | Secured Overnight Financing Rate |
| SPA |  | Standby Bond Purchase Agreement — Insured Bonds |
| TCRS |  | Transferable Custodial Receipts |
| USD |  | Unified School District |

---

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

See Notes to Schedule of Investments.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

Notes to Schedule of Investments (unaudited)

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

**1. Organization and significant accounting policies** 

Western Asset Short Duration Municipal Income Fund (the "Fund") is a separate diversified investment series of Legg Mason Partners 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.

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

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

Pursuant to policies adopted by the Board, the Fund's manager has been designated as the valuation designee and is responsible for the oversight of the daily valuation process. The Fund's manager is assisted by the Global Fund Valuation Committee (the "Valuation Committee"). The Valuation Committee is responsible for making fair value determinations, evaluating the effectiveness of the Fund's pricing policies, and reporting to the Fund's manager and the Board. When determining the reliability of third party pricing information for investments owned by the Fund, the Valuation Committee, among other things, conducts due diligence reviews of pricing vendors, monitors the daily change in prices and reviews transactions among market participants.

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, 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 quarterly.

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

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

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

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

• Level 1 — unadjusted quoted prices in active markets for identical investments

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

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

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

The following is a summary of the inputs used in valuing the Fund's assets carried at fair value: <br>

---

| | | | | |
|:---|:---|:---|:---|:---|
| **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** | **ASSETS** |
| Description | &nbsp;&nbsp; Quoted Prices <br>(Level 1)<br>| &nbsp;&nbsp; Other Significant <br>Observable Inputs <br>(Level 2)<br>| &nbsp;&nbsp; Significant <br>Unobservable <br>Inputs <br>(Level 3)<br>| Total |
| Municipal Bonds† | &nbsp;&nbsp; — | &nbsp;&nbsp; $308903051 | &nbsp;&nbsp; — | &nbsp;&nbsp; $308903051 |
| Short-Term Investments† | &nbsp;&nbsp; — | &nbsp;&nbsp; 1800000 | &nbsp;&nbsp; — | &nbsp;&nbsp; 1800000 |
| **Total Investments** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$310703051** | &nbsp;&nbsp; **—** | &nbsp;&nbsp; **$310703051** |

---

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;

† See Schedule of Investments for additional detailed categorizations.

------

Western Asset Short Duration Municipal Income Fund 2025 Quarterly Report

------

## Form NPORT-P: Monthly Portfolio Investments Report

### NPORT-P: Part A: General Information

**Item A.1. Information about the Registrant.**

- **a. Name of Registrant:** Legg Mason Partners Income Trust

- **b. Investment Company Act file number:** 811-04254

- **c. CIK number of Registrant:** 0000764624

- **d. LEI of Registrant:** 549300Y1U2UCLTK83X35

- **e. Address and telephone number of Registrant.**

  - **Street Address 1:** 620 Eighth Avenue

  - **City:** New York

  - **State:** NY

  - **Foreign country:** US

  - **Zip / Postal Code:** 10018

  - **Telephone number:** 1-877-656-3863

**Item A.2. Information about the Series.**

- **a. Name of Series:** Western Asset Short Duration Municipal Income Fund

- **b. EDGAR series identifier (if any):** S000016249

- **c. LEI of Series:** 549300TYCEXVVJWI4402

**Item A.3. Reporting period.**

- **a. Date of fiscal year-end:** 2026-02-28

- **b. Date as of which information is reported:** 2025-05-30

**Item A.4. Final filing**

Does the Fund anticipate that this will be its final filing on Form N-PORT? **No**

### Fund Information

**Total Assets:** $313873569.62

**Total Liabilities:** $1041654.93

**Net Assets:** $312831914.69

**Cash Not Reported:** $3356.74

**Currency Risk Metrics (dv01):**

- 

**Credit Spread Risk - Investment Grade (dv01):**

- **3-Month:** 1192.11000000 | **1-Year:** 31356.12000000 | **5-Year:** 35981.83000000 | **10-Year:** 1468.65000000 | **30-Year:** 0.00000000

**Credit Spread Risk - Non-Investment Grade (dv01):**

- **3-Month:** 43.88000000 | **1-Year:** 483.35000000 | **5-Year:** 41.53000000 | **10-Year:** 341.98000000 | **30-Year:** 159.56000000

**Monthly Return Information**

| Class               | Month 1 Return (%)   | Month 2 Return (%)   | Month 3 Return (%)   |
|:---|:---|:---|:---|
| Class ID C000044916 | -0.19%               | -0.19%               | 0.61%                |
| Class ID C000044917 | -0.22%               | -0.23%               | 0.58%                |
| Class ID C000044918 | -0.18%               | -0.18%               | 0.42%                |
| Class ID C000183975 | -0.37%               | -0.18%               | 0.63%                |
| Class ID C000222209 | -0.24%               | -0.24%               | 0.36%                |

**Monthly Gains & Losses**

| Period   | Net Realized Gain/Loss   | Net Unrealized Appreciation/Depreciation   |
|:---|:---|:---|
| Month 1  | $-4738.89                | $-1513054.23                               |
| Month 2  | $234986.18               | $-1515379.39                               |
| Month 3  | $-13926.28               | $1084540.87                                |

### Schedule of Portfolio Investments

| Name                           | Title                                                                            | Identifiers                                   | Payoff Profile   | Asset Category   | Issuer Category   | Country   |   Balance | Units   | Value (USD)   | % of Net Assets   | Maturity Date   | Coupon Type   | Annualized Rate (%)   | Restricted?   |   Fair Value Level | Lending Status   |
|:---|:---|:---|:---|:---|:---|:---|---:|:---|:---|:---|:---|:---|:---|:---|---:|:---|
| OHIO ST AIR QUALITY DEV AUTH   | Ohio Air Quality Development Authority                                           | CUSIP: 677525WZ6<br>LEI: 549300DZUU80AYOR6M80 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $989678.20    | 0.32%             | 2029-01-01      | Fixed         | 3.75%                 | No            |                  2 | On Loan: No      |
| UNIV OF HOUSTON TX UNIV REVENU | University of Houston                                                            | CUSIP: 914302CG7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2115000 | PA      | $2139414.50   | 0.68%             | 2030-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NORTH CAROLINA ST TURNPIKE AUT | North Carolina Turnpike Authority                                                | CUSIP: 65830RCB3<br>LEI: 549300FCT1PN0GJGQ240 | Long             | DBT              | MUN               | US        |   3440000 | PA      | $3617156.90   | 1.16%             | 2033-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD | Michigan Strategic Fund                                                          | CUSIP: 594698SR4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1987801.60   | 0.64%             | 2061-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| S E ALABAMA ST GAS SPLY DIST G | Southeast Alabama Gas Supply District/The                                        | CUSIP: 84131TAU6<br>LEI: 549300BL04JIB2GJZ178 | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2343439.79   | 0.75%             | 2027-04-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET PIER & EXPOSITION AUTH IL  | Metropolitan Pier & Exposition Authority                                         | CUSIP: 592250FK5<br>LEI: 254900I3VDCQ58UGBR15 | Long             | DBT              | MUN               | US        |   1270000 | PA      | $1289569.18   | 0.41%             | 2027-12-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                                        | CUSIP: 795576LL9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2632829.00   | 0.84%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ INDL DEV AUTH | Maricopa County Industrial Development Authority                                 | CUSIP: 56682HBV0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2025000 | PA      | $2073654.47   | 0.66%             | 2031-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BURKE CNTY GA DEV AUTH POLL CO | Development Authority of Burke County/The                                        | CUSIP: 121342NR6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1247581.00   | 0.40%             | 2040-01-01      | Variable      | 3.60%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                                    | CUSIP: 66285WBW5<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   2840000 | PA      | $2324174.49   | 0.74%             | 2031-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                                             | CUSIP: 20772J6Q0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4275000 | PA      | $4430052.54   | 1.42%             | 2029-04-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I | Indianapolis Local Public Improvement Bond Bank                                  | CUSIP: 45528UD99<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   7030000 | PA      | $7344025.88   | 2.35%             | 2029-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| OHIO ST HOSP FAC REVENUE       | State of Ohio                                                                    | CUSIP: 677561KG6<br>LEI: 5493005LEB5E170OMX59 | Long             | DBT              | MUN               | US        |   3445000 | PA      | $3590283.57   | 1.15%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                      | CUSIP: 56035DJM5<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1022604.10   | 0.33%             | 2026-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC S | Long Island Power Authority                                                      | CUSIP: 542691EX4<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   4580000 | PA      | $4460504.59   | 1.43%             | 2051-09-01      | Variable      | 1.50%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST HLTH & HGR EDUCTNL | Maryland Health & Higher Educational Facilities Authority                        | CUSIP: 57421CHE7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1770000 | PA      | $1891773.17   | 0.60%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION  | Texas Municipal Gas Acquisition and Supply Corp II                               | CUSIP: 88255QBH1<br>LEI: 8E22IH4TQD26WYDGHB25 | Long             | DBT              | MUN               | US        |    795000 | PA      | $795475.09    | 0.25%             | 2027-09-15      | Variable      | 3.70%                 | No            |                  2 | On Loan: No      |
| MARICOPA CNTY AZ POLL CONTROLC | Maricopa County Pollution Control Corp                                           | CUSIP: 566854EK7<br>LEI: 549300QPXP6T4Y6I1D83 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1918747.80   | 0.61%             | 2043-06-01      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| WISCONSIN ST HSG & ECON DEV AU | Wisconsin Housing & Economic Development Authority Home Ownership Revenue        | CUSIP: 97689PX37<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    900000 | PA      | $900000.00    | 0.29%             | 2035-09-01      | Variable      | 1.85%                 | No            |                  2 | On Loan: No      |
| HUDSON YARDS INFRASTRUCTURE CO | Hudson Yards Infrastructure Corp                                                 | CUSIP: 44420RAX8<br>LEI: 549300EE2HJ67TPURL87 | Long             | DBT              | MUN               | US        |   2285000 | PA      | $2334793.58   | 0.75%             | 2035-02-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH MT | New Jersey Economic Development Authority                                        | CUSIP: 64578JBE5<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   5005000 | PA      | $5155243.09   | 1.65%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION  | Texas Municipal Gas Acquisition and Supply Corp I                                | CUSIP: 88256CAW9<br>LEI: 6AZ7FRSNC3ZFPM0Z8L86 | Long             | DBT              | MUN               | US        |   2035000 | PA      | $2034320.31   | 0.65%             | 2026-12-15      | Variable      | 3.76%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                      | CUSIP: 56035DJC7<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    650000 | PA      | $670609.81    | 0.21%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH MT | New Jersey Economic Development Authority                                        | CUSIP: 64578JAZ9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |    445000 | PA      | $458513.80    | 0.15%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                                | CUSIP: 249182UN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3615000 | PA      | $3745734.67   | 1.20%             | 2027-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PENNSYLVANIA ST ECON DEV FING  | Pennsylvania Economic Development Financing Authority                            | CUSIP: 70870FAN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1220000 | PA      | $1221936.14   | 0.39%             | 2026-01-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST HSG DEV AUTH SF MT | Michigan State Housing Development Authority                                     | CUSIP: 594654NM3<br>LEI: 549300NSWW1HVXE93T03 | Long             | DBT              | MUN               | US        |   1730000 | PA      | $1551764.67   | 0.50%             | 2029-06-01      | Fixed         | 1.50%                 | No            |                  2 | On Loan: No      |
| MET GOVT NASHVILLE & DAVIDSON  | Metropolitan Government Nashville & Davidson County Health & Educational Facs Bd | CUSIP: 592029CN0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1010000 | PA      | $1143822.27   | 0.37%             | 2034-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                                             | CUSIP: 20772J3X8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2054495.60   | 0.66%             | 2028-10-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN FRANCISCO CALIF CITY &CNTY | San Francisco City & County Airport Comm-San Francisco International Airport     | CUSIP: 79766DUD9<br>LEI: 54930055TIDYHNDP4F84 | Long             | DBT              | MUN               | US        |   4825000 | PA      | $5110900.07   | 1.63%             | 2030-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COOK CNTY IL SCH DIST #87 BERK | Cook County School District No 87 Berkeley                                       | CUSIP: 214165LU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $504692.05    | 0.16%             | 2025-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GILROY CA UNIF SCH DIST        | Gilroy Unified School District                                                   | CUSIP: 376087DH2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1840000 | PA      | $1553468.58   | 0.50%             | 2030-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| GTR ORLANDO FL AVIATION AUTH A | Greater Orlando Aviation Authority                                               | CUSIP: 392274Z41<br>LEI: 549300CP6PUG5S184F61 | Long             | DBT              | MUN               | US        |   1665000 | PA      | $1747262.99   | 0.56%             | 2030-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSISSIPPI DEV BK SPL OBLIG   | Mississippi Development Bank                                                     | CUSIP: 60534XBW5<br>LEI: 549300122LOI8CB50V38 | Long             | DBT              | MUN               | US        |    590000 | PA      | $590956.69    | 0.19%             | 2025-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CLACKAMAS CNTY OR SCH DIST #62 | Oregon City School District No 62                                                | CUSIP: 179162LC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $352240.76    | 0.11%             | 2029-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TRIMBLE CNTY KY POLL CONTROL R | County of Trimble KY                                                             | CUSIP: 896224BC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3250000 | PA      | $3111089.80   | 0.99%             | 2026-09-01      | Fixed         | 0.62%                 | No            |                  2 | On Loan: No      |
| SAN MATEO CNTY CA CMNTY CLG DI | San Mateo County Community College District                                      | CUSIP: 799038EL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2530000 | PA      | $2215530.87   | 0.71%             | 2029-09-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| PALM BEACH CNTY FL HLTH FACS A | Palm Beach County Health Facilities Authority                                    | CUSIP: 696507VG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    230000 | PA      | $229694.17    | 0.07%             | 2026-06-01      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTH CAROLINA ST PUBLIC SVC A | South Carolina Public Service Authority                                          | CUSIP: 8371515Z8<br>LEI: EMBXY64GWKA9MZGFUD26 | Long             | DBT              | MUN               | US        |   1375000 | PA      | $1463231.41   | 0.47%             | 2028-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSPA | Charlotte-Mecklenburg Hospital Authority/The                                     | CUSIP: 160853VA2<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.03%             | 2042-01-15      | Variable      | 2.10%                 | No            |                  2 | On Loan: No      |
| DISTRICT OF COLUMBIA HOSP REVE | District of Columbia                                                             | CUSIP: 254764JS3<br>LEI: 549300HWFOZXPKGOX654 | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1050238.18   | 0.34%             | 2028-07-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ENVRNMNTL  | Indiana Finance Authority                                                        | CUSIP: 455054BE5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1501115.85   | 0.48%             | 2026-12-01      | Fixed         | 4.12%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA CMNTY CHOICE FING A | California Community Choice Financing Authority                                  | CUSIP: 13013JAX4<br>LEI: 549300X8VKJ215S2R571 | Long             | DBT              | MUN               | US        |   2400000 | PA      | $2398378.08   | 0.77%             | 2052-10-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOPERAT | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBF9<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1534098.15   | 0.49%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 646136ES6<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2785000 | PA      | $2384020.43   | 0.76%             | 2029-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LONG BEACH CA BOND FIN AUTH NA | Long Beach Bond Finance Authority                                                | CUSIP: 54241ABC6<br>LEI: 549300BKBZ5U7OZH3S21 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2022773.60   | 0.65%             | 2027-11-15      | Variable      | 4.52%                 | No            |                  2 | On Loan: No      |
| SALEM-KEIZER OR SCH DIST #24J  | Salem-Keizer School District No 24J                                              | CUSIP: 794173FG4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1050000 | PA      | $880888.79    | 0.28%             | 2030-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE ST ENERGY ACQUISITIO | Tennessee Energy Acquisition Corp                                                | CUSIP: 880443JE7<br>LEI: 549300OJ2Z8PGEY46K92 | Long             | DBT              | MUN               | US        |   9475000 | PA      | $9479688.23   | 3.03%             | 2049-11-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH ENVRNMNTL  | Indiana Finance Authority                                                        | CUSIP: 455059AL9<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1000000 | PA      | $993836.30    | 0.32%             | 2025-08-01      | Fixed         | 0.65%                 | No            |                  2 | On Loan: No      |
| WISE CNTY VA INDL DEV AUTH SOL | Wise County Industrial Development Authority                                     | CUSIP: 977228AE5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2650000 | PA      | $2621859.39   | 0.84%             | 2040-10-01      | Variable      | 0.75%                 | No            |                  2 | On Loan: No      |
| SALT LAKE CITY UT ARPT REVENUE | City of Salt Lake City UT Airport Revenue                                        | CUSIP: 795576FR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    705000 | PA      | $715670.95    | 0.23%             | 2032-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LANE CNTY OR SCH DIST #1 PLEAS | Lane County School District No 1 Pleasant Hill                                   | CUSIP: 515282FN6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1233660.65   | 0.39%             | 2027-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                                | CUSIP: 249182QE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3025000 | PA      | $3201385.33   | 1.02%             | 2029-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARION & POLK CNTYS OR SCH DIS | Salem-Keizer School District No 24J                                              | CUSIP: 569203NC2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2050000 | PA      | $2145741.15   | 0.69%             | 2031-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE     | Port of Seattle WA                                                               | CUSIP: 735389U22<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   1060000 | PA      | $1106183.99   | 0.35%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TX WHARVES & TERMINA | City of Galveston TX Wharves & Terminal Revenue                                  | CUSIP: 364568JS5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1057649.39   | 0.34%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP  | New York City Housing Development Corp                                           | CUSIP: 64972EYZ6<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   7465000 | PA      | $7443488.86   | 2.38%             | 2061-05-01      | Variable      | 0.60%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                       | State of Texas                                                                   | CUSIP: 882724Q42<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2594969.75   | 0.83%             | 2031-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION& | Texas Municipal Gas Acquisition & Supply Corp IV                                 | CUSIP: 88256PAK6<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1284644.00   | 0.41%             | 2027-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST                 | State of Connecticut                                                             | CUSIP: 20772KBX6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   7250000 | PA      | $7310074.95   | 2.34%             | 2030-08-15      | Fixed         | 4.00%                 | No            |                  2 | On Loan: No      |
| HIGHLANDS CNTY FL HLTH FACS AU | Highlands County Health Facilities Authority                                     | CUSIP: 431022TN2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.03%             | 2032-11-15      | Variable      | 1.95%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST                  | State of New Jersey                                                              | CUSIP: 646039YN1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1865000 | PA      | $2009431.94   | 0.64%             | 2029-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TBL0<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2062784.60   | 0.66%             | 2053-05-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP  | New York City Housing Development Corp                                           | CUSIP: 64970HAY0<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |    100000 | PA      | $100000.00    | 0.03%             | 2033-03-15      | Variable      | 2.15%                 | No            |                  2 | On Loan: No      |
| LOUISIANA ST OFFSHORE TERMINAL | Louisiana Offshore Terminal Authority                                            | CUSIP: 546510FS2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4000000 | PA      | $4025017.20   | 1.29%             | 2027-09-01      | Fixed         | 4.15%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TDP9<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1250000 | PA      | $1285223.50   | 0.41%             | 2027-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW YORK ST TRANSPRTN DEV CORP | New York Transportation Development Corp                                         | CUSIP: 650116EY8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1245000 | PA      | $1223340.61   | 0.39%             | 2026-08-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST MUNI ENERGY ACQU | New Mexico Municipal Energy Acquisition Authority                                | CUSIP: 647207BG3<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    850000 | PA      | $891554.04    | 0.28%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CENTRL PUGET SOUND WA REGL TRA | Central Puget Sound Regional Transit Authority                                   | CUSIP: 15504RGN3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1987398.80   | 0.64%             | 2045-11-01      | Variable      | 2.17%                 | No            |                  2 | On Loan: No      |
| NEW MEXICO ST MUNI ENERGY ACQU | New Mexico Municipal Energy Acquisition Authority                                | CUSIP: 647207BF5<br>LEI: 549300KZGG2YNDKKCE92 | Long             | DBT              | MUN               | US        |    640000 | PA      | $665480.77    | 0.21%             | 2028-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MARYLAND ST                    | State of Maryland                                                                | CUSIP: 574193QF8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1420000 | PA      | $1492027.09   | 0.48%             | 2031-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| GALVESTON TX WHARVES & TERMINA | City of Galveston TX Wharves & Terminal Revenue                                  | CUSIP: 364568JR7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    550000 | PA      | $572697.95    | 0.18%             | 2030-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA ST FIN AUTH HLTH SYS R | Indiana Finance Authority                                                        | CUSIP: 45470YEX5<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1320000 | PA      | $1317987.13   | 0.42%             | 2058-12-01      | Variable      | 2.25%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST ECON DEV AUTH    | New Jersey Economic Development Authority                                        | CUSIP: 645779CD9<br>LEI: 5493006JS6QWDVU4R678 | Long             | DBT              | MUN               | US        |   2250000 | PA      | $2226760.43   | 0.71%             | 2059-04-01      | Variable      | 2.45%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION& | Texas Municipal Gas Acquisition & Supply Corp III                                | CUSIP: 88256HBC1<br>LEI: 0UDITKOYW0YKG3BBP242 | Long             | DBT              | MUN               | US        |   3750000 | PA      | $3854967.75   | 1.23%             | 2027-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue                      | CUSIP: 592647MM0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3040000 | PA      | $3213649.36   | 1.03%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| PORT AUTH OF NEW YORK & NEW JE | Port Authority of New York & New Jersey                                          | CUSIP: 73358WS54<br>LEI: 54930006MR4KZ4W74Z83 | Long             | DBT              | MUN               | US        |    390000 | PA      | $400618.14    | 0.13%             | 2032-09-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WASHINGTON CNTY NE WSTWTR SOLW | County of Washington NE                                                          | CUSIP: 938120AD4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1192144.80   | 0.38%             | 2030-09-01      | Variable      | 0.90%                 | No            |                  2 | On Loan: No      |
| CHARLOTTE-MECKLENBURG NC HOSPA | Charlotte-Mecklenburg Hospital Authority/The                                     | CUSIP: 160853VG9<br>LEI: 549300XOH4JU704GMZ32 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $1974294.60   | 0.63%             | 2048-01-15      | Variable      | 0.80%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                                       | CUSIP: 45200FZR3<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |    600000 | PA      | $600000.00    | 0.19%             | 2043-08-01      | Variable      | 2.05%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 452152P96<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   3430000 | PA      | $3569301.22   | 1.14%             | 2027-11-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST INFRASTRUCTURE & | California Infrastructure & Economic Development Bank                            | CUSIP: 13034AN48<br>LEI: 549300C1OG9RDIM8ET06 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1495581.15   | 0.48%             | 2050-12-01      | Variable      | 2.67%                 | No            |                  2 | On Loan: No      |
| MET TRANSPRTN AUTH NY DEDICATE | Metropolitan Transportation Authority Dedicated Tax Fund                         | CUSIP: 59259N8D8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1645000 | PA      | $1691356.10   | 0.54%             | 2035-11-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH  | Parish of St John the Baptist LA                                                 | CUSIP: 79020FBB1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2515000 | PA      | $2465675.57   | 0.79%             | 2037-06-01      | Variable      | 3.30%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST FIN AUTH REVENUE   | Michigan Finance Authority                                                       | CUSIP: 59447TU43<br>LEI: 54930022O46HOX5J1D14 | Long             | DBT              | MUN               | US        |   1325000 | PA      | $1247028.52   | 0.40%             | 2027-10-15      | Fixed         | 1.10%                 | No            |                  2 | On Loan: No      |
| DENVER CITY & CNTY CO ARPT REV | City & County of Denver CO Airport System Revenue                                | CUSIP: 249182LE4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   6510000 | PA      | $6734749.29   | 2.15%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST FIN AUTH REVENUE   | Illinois Finance Authority                                                       | CUSIP: 45204FHY4<br>LEI: 549300ZG6UBPNNNRN315 | Long             | DBT              | MUN               | US        |   2170000 | PA      | $2176626.53   | 0.70%             | 2025-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CALIFORNIA ST POLL CONTROL FIN | California Pollution Control Financing Authority                                 | CUSIP: 130536QW8<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    975000 | PA      | $968760.59    | 0.31%             | 2040-11-01      | Variable      | 3.12%                 | No            |                  2 | On Loan: No      |
| TROY TX INDEP SCH DIST         | Troy Independent School District                                                 | CUSIP: 897727JA2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    925000 | PA      | $789728.56    | 0.25%             | 2029-08-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HLTH & EDUCTNL  | Connecticut State Health & Educational Facilities Authority                      | CUSIP: 20775DFH0<br>LEI: 549300ZOQJ5U8YBS5Q35 | Long             | DBT              | MUN               | US        |   3000000 | PA      | $3240989.10   | 1.04%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| CONNECTICUT ST HSG FIN AUTH HS | Connecticut Housing Finance Authority                                            | CUSIP: 20775HFD0<br>LEI: 5493003DXX0NRJKSH186 | Long             | DBT              | MUN               | US        |    850000 | PA      | $805179.76    | 0.26%             | 2026-11-15      | Fixed         | 0.60%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION  | Central Texas Turnpike System                                                    | CUSIP: 88283KBW7<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $1095731.80   | 0.35%             | 2031-08-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TOBACCO SETTLEMENT AUTH IA TOB | Iowa Tobacco Settlement Authority                                                | CUSIP: 888805BS6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $517329.85    | 0.17%             | 2028-06-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SOUTHEAST ENERGY AUTH COOPERAT | Southeast Energy Authority A Cooperative District                                | CUSIP: 84136HBE2<br>LEI: 25490090A3RLJHITY273 | Long             | DBT              | MUN               | US        |    750000 | PA      | $762716.10    | 0.24%             | 2027-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| TENNESSEE HSG DEV AGY RSDL FIN | Tennessee Housing Development Agency                                             | CUSIP: 880461GV4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2090000 | PA      | $2075001.53   | 0.66%             | 2030-07-01      | Fixed         | 3.55%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TDQ7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1559978.25   | 0.50%             | 2028-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| COCONINO CNTY AZ POLL CONTROLC | Coconino County Pollution Control Corp                                           | CUSIP: 191855BN4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999335.40    | 0.32%             | 2032-09-01      | Variable      | 4.12%                 | No            |                  2 | On Loan: No      |
| TEXAS ST                       | State of Texas                                                                   | CUSIP: 8827236B0<br>LEI: 549300X9CH74QB747L76 | Long             | DBT              | MUN               | US        |   3535000 | PA      | $3612017.40   | 1.15%             | 2028-08-01      | Fixed         | 5.50%                 | No            |                  2 | On Loan: No      |
| TRIBOROUGH NY BRIDGE & TUNNEL  | Triborough Bridge & Tunnel Authority                                             | CUSIP: 89602HJB4<br>LEI: 54930020ZN4LQF7K3456 | Long             | DBT              | MUN               | US        |   9000000 | PA      | $9682874.10   | 3.10%             | 2029-03-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MISSION TX ECON DEV CORP SOL W | Mission Economic Development Corp                                                | CUSIP: 605155BW9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    300000 | PA      | $306600.06    | 0.10%             | 2064-12-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| SALEM-KEIZER OR SCH DIST #24J  | Salem-Keizer School District No 24J                                              | CUSIP: 794173FU3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    845000 | PA      | $764311.46    | 0.24%             | 2028-06-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| TEXAS ST TRANSPRTN COMMISSION  | Texas Transportation Commission                                                  | CUSIP: 882830BJ0<br>LEI: 5493006JSGNPGVJS7691 | Long             | DBT              | MUN               | US        |   2500000 | PA      | $2427265.00   | 0.78%             | 2041-10-01      | Variable      | 0.65%                 | No            |                  2 | On Loan: No      |
| GOOSE CREEK TX CONSOL INDEP SC | Goose Creek Consolidated Independent School District                             | CUSIP: 3826043G9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1040000 | PA      | $1007946.78   | 0.32%             | 2035-02-15      | Variable      | 0.60%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH  | Parish of St John the Baptist LA                                                 | CUSIP: 79020FBA3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4050000 | PA      | $3979717.52   | 1.27%             | 2037-06-01      | Variable      | 2.38%                 | No            |                  2 | On Loan: No      |
| GALVESTON TX WHARVES & TERMINA | City of Galveston TX Wharves & Terminal Revenue                                  | CUSIP: 364568JQ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    375000 | PA      | $388459.05    | 0.12%             | 2029-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| RIO CA ELEM SCH DIST           | Rio Elementary School District/CA                                                | CUSIP: 767032KT1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1505000 | PA      | $1365269.18   | 0.44%             | 2028-07-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 452153JL4<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   1415000 | PA      | $1490505.96   | 0.48%             | 2029-05-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC S | Long Island Power Authority                                                      | CUSIP: 542691DM9<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   4950000 | PA      | $4909761.45   | 1.57%             | 2050-09-01      | Variable      | 0.85%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 646136EV9<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   2840000 | PA      | $2152250.55   | 0.69%             | 2032-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| KING CNTY WA SCH DIST #411 ISS | King County School District No 411 Issaquah                                      | CUSIP: 4952243S4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2335000 | PA      | $2382639.60   | 0.76%             | 2032-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                      | CUSIP: 56035DJG8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1581246.90   | 0.51%             | 2031-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SARPY CNTY NE SCH DIST #37     | Gretna Public Schools                                                            | CUSIP: 803770XC5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2085622.20   | 0.67%             | 2030-12-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| INDIANA FIN AUTH IN WSTWTR UTI | Indiana Finance Authority                                                        | CUSIP: 45505MPB6<br>LEI: 549300PS0PAS7NDSSI20 | Long             | DBT              | MUN               | US        |   1310000 | PA      | $1420946.91   | 0.45%             | 2029-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 64613CFR4<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1622640.30   | 0.52%             | 2030-06-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| NRTHRN CA ENERGY AUTH COMMODIT | Northern California Energy Authority                                             | CUSIP: 664840AH8<br>LEI: 5493001ZIJGWU7HYLH34 | Long             | DBT              | MUN               | US        |   1050000 | PA      | $1093511.06   | 0.35%             | 2028-08-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MET WASHINGTON DC ARPTS AUTH A | Metropolitan Washington Airports Authority Aviation Revenue                      | CUSIP: 592647JW2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1915000 | PA      | $1982736.23   | 0.63%             | 2027-10-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MAIN STREET NATURAL GAS INC GA | Main Street Natural Gas Inc                                                      | CUSIP: 56035DJP8<br>LEI: 549300NY5M0QVZ6X4U26 | Long             | DBT              | MUN               | US        |    500000 | PA      | $518151.45    | 0.17%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FAIRFIELD-SUISUN CA UNIF SCH D | Fairfield-Suisun Unified School District                                         | CUSIP: 304747JT6<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2040000 | PA      | $1826597.23   | 0.58%             | 2029-02-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| SAINT JOHN THE BAPTIST PARISH  | Parish of St John the Baptist LA                                                 | CUSIP: 79020FAY2<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |     35000 | PA      | $34328.53     | 0.01%             | 2037-06-01      | Variable      | 2.20%                 | No            |                  2 | On Loan: No      |
| INDIANAPOLIS IN LOCAL PUBLIC I | Indianapolis Local Public Improvement Bond Bank                                  | CUSIP: 45528VAX7<br>LEI: 549300LX8ESJHDSESB87 | Long             | DBT              | MUN               | US        |   1005000 | PA      | $1015373.41   | 0.32%             | 2026-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FLORIDA INSURANCE ASSISTANCE I | Florida Insurance Assistance Interlocal Agency Inc                               | CUSIP: 34074EAE9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4500000 | PA      | $4597009.65   | 1.47%             | 2028-09-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MONROE CNTY GA DEV AUTH POLL C | Development Authority of Monroe County/The                                       | CUSIP: 610530FR3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1150000 | PA      | $1148050.87   | 0.37%             | 2025-07-01      | Fixed         | 2.25%                 | No            |                  2 | On Loan: No      |
| TRIMBLE CNTY KY ENVRNMNTL FACS | County of Trimble KY                                                             | CUSIP: 896221AF5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2012980.40   | 0.64%             | 2054-06-01      | Variable      | 4.70%                 | No            |                  2 | On Loan: No      |
| TEXAS ST MUNI GAS ACQUISITION& | Texas Municipal Gas Acquisition & Supply Corp IV                                 | CUSIP: 88256PAJ9<br>LEI: 549300PTUE847QDBBW22 | Long             | DBT              | MUN               | US        |   1200000 | PA      | $1211812.44   | 0.39%             | 2026-01-01      | Fixed         | 5.25%                 | No            |                  2 | On Loan: No      |
| TEXAS TRANSPRTN COMMISSION ST  | Texas Department of Transportation State Highway Fund                            | CUSIP: 88283LKX3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1500000 | PA      | $1453704.90   | 0.46%             | 2026-04-01      | Fixed         | 0.56%                 | No            |                  2 | On Loan: No      |
| PATRIOTS ENERGY GROUP FING AGY | Patriots Energy Group Financing Agency                                           | CUSIP: 70342PAS3<br>LEI: 5493008X0DFBVFH4HL19 | Long             | DBT              | MUN               | US        |   2000000 | PA      | $2062712.60   | 0.66%             | 2054-02-01      | Variable      | 4.75%                 | No            |                  2 | On Loan: No      |
| NEW JERSEY ST TRANSPRTN TRUST  | New Jersey Transportation Trust Fund Authority                                   | CUSIP: 6461362R1<br>LEI: 549300YUVD5TEXR6L889 | Long             | DBT              | MUN               | US        |   5035000 | PA      | $4638483.68   | 1.48%             | 2027-12-15      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| DELAWARE ST ECON DEV AUTH REVE | Delaware State Economic Development Authority                                    | CUSIP: 246387SU9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1015000 | PA      | $1012189.06   | 0.32%             | 2031-01-01      | Variable      | 1.05%                 | No            |                  2 | On Loan: No      |
| NEW YORK CITY NY HSG DEV CORP  | New York City Housing Development Corp                                           | CUSIP: 64972EZM4<br>LEI: 549300SQWVHKBRF8D702 | Long             | DBT              | MUN               | US        |   1075000 | PA      | $1011873.53   | 0.32%             | 2026-11-01      | Fixed         | 0.60%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 452152G96<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2170000 | PA      | $2223492.24   | 0.71%             | 2028-02-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| MICHIGAN ST STRATEGIC FUND LTD | Michigan Strategic Fund                                                          | CUSIP: 594698EH1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1335000 | PA      | $1252421.71   | 0.40%             | 2035-04-01      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| SEATTLE WA MUNI LIGHT & PWR RE | City of Seattle WA Municipal Light & Power Revenue                               | CUSIP: 812643WU4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $988588.20    | 0.32%             | 2045-05-01      | Variable      | 2.22%                 | No            |                  2 | On Loan: No      |
| COLUMBUS OH REGL ARPT AUTH REV | Columbus Regional Airport Authority                                              | CUSIP: 199546CL4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    500000 | PA      | $528882.70    | 0.17%             | 2030-01-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ATLANTA GA ARPT PASSENGER FAC  | City of Atlanta GA Airport Passenger Facility Charge                             | CUSIP: 04780TEC4<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   5000000 | PA      | $5092000.00   | 1.63%             | 2026-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| SAN ANTONIO TX ELEC & GAS REVE | City of San Antonio TX Electric & Gas Systems Revenue                            | CUSIP: 79625GBX0<br>LEI: 5493002G2FEH20Q4GQ04 | Long             | DBT              | MUN               | US        |   2850000 | PA      | $2820201.54   | 0.90%             | 2049-02-01      | Variable      | 1.75%                 | No            |                  2 | On Loan: No      |
| N TX TOLLWAY AUTH REVENUE      | North Texas Tollway Authority                                                    | CUSIP: 66285WBV7<br>LEI: PQGZGRE0F2WPMYQQ1B78 | Long             | DBT              | MUN               | US        |   2920000 | PA      | $2486502.93   | 0.79%             | 2030-01-01      | None          | 0.00%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC S | Long Island Power Authority                                                      | CUSIP: 542691KA7<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   5215000 | PA      | $5015138.25   | 1.60%             | 2049-09-01      | Variable      | 3.00%                 | No            |                  2 | On Loan: No      |
| LOS ANGELES CA DEPT OF ARPTS A | City of Los Angeles Department of Airports                                       | CUSIP: 544445FR5<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   4690000 | PA      | $4843863.42   | 1.55%             | 2029-05-15      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| BLACK BELT ENERGY GAS DIST AL  | Black Belt Energy Gas District                                                   | CUSIP: 09182TAN7<br>LEI: 549300I8V0Z68JQCB679 | Long             | DBT              | MUN               | US        |    750000 | PA      | $733082.63    | 0.23%             | 2052-10-01      | Variable      | 2.32%                 | No            |                  2 | On Loan: No      |
| CHANDLER AZ INDL DEV AUTH INDL | Chandler Industrial Development Authority                                        | CUSIP: 158862CE0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   3765000 | PA      | $3709625.13   | 1.19%             | 2049-06-01      | Variable      | 4.00%                 | No            |                  2 | On Loan: No      |
| PORT OF SEATTLE WA REVENUE     | Port of Seattle WA                                                               | CUSIP: 7353892A5<br>LEI: 549300T9UCDUJ3GZL429 | Long             | DBT              | MUN               | US        |   2020000 | PA      | $2127325.83   | 0.68%             | 2029-07-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| WAYNE CNTY MI ARPT AUTH REVENU | Wayne County Airport Authority                                                   | CUSIP: 944514TD0<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    400000 | PA      | $400835.44    | 0.13%             | 2027-12-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| ILLINOIS ST                    | State of Illinois                                                                | CUSIP: 452153CP2<br>LEI: 54930048FV8RWPR02D67 | Long             | DBT              | MUN               | US        |   2090000 | PA      | $2175728.87   | 0.70%             | 2028-03-01      | Fixed         | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND TX INDEP SCH DIST    | Fort Bend Independent School District                                            | CUSIP: 346843RY3<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1135000 | PA      | $1129846.31   | 0.36%             | 2050-08-01      | Variable      | 0.88%                 | No            |                  2 | On Loan: No      |
| MISSOURI ST ENVRNMNTL IMPT & E | Missouri State Environmental Improvement & Energy Resources Authority            | CUSIP: 606907BJ1<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |   1000000 | PA      | $999323.00    | 0.32%             | 2038-05-01      | Variable      | 3.50%                 | No            |                  2 | On Loan: No      |
| LONG ISLAND NY PWR AUTH ELEC S | Long Island Power Authority                                                      | CUSIP: 542691GD6<br>LEI: 1R46U5SYJ63KQXF39168 | Long             | DBT              | MUN               | US        |   5625000 | PA      | $5789790.56   | 1.85%             | 2052-09-01      | Variable      | 5.00%                 | No            |                  2 | On Loan: No      |
| FORT BEND TX INDEP SCH DIST    | Fort Bend Independent School District                                            | CUSIP: 346843SZ9<br>LEI: N/A                  | Long             | DBT              | MUN               | US        |    820000 | PA      | $789394.89    | 0.25%             | 2051-08-01      | Variable      | 0.72%                 | No            |                  2 | On Loan: No      |

### Signature

**Date Signed:** 2025-07-29

**Name of Applicant:** Legg Mason Partners Income Trust

**Signature:** Christopher Berarducci

**Name of Signer:** Christopher Berarducci

**Title:** Principal Financial Officer