# EDGAR Filing Document

**Accession Number:** 0000889512
**File Stem:** 0000940400-26-015909
**Filing Date:** 2026-5
**Character Count:** 184948
**Document Hash:** e9076743f93a1c1ccc23659755f45f46
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000940400-26-015909.hdr.sgml**: 20260506

**ACCESSION NUMBER**: 0000940400-26-015909

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20260228

**FILED AS OF DATE**: 20260506

**DATE AS OF CHANGE**: 20260506

**EFFECTIVENESS DATE**: 20260506

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS INSTITUTIONAL TRUST
- **CENTRAL INDEX KEY:** 0000889512

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 0831

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06740
- **FILM NUMBER:** 26947250

**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:** CITIFUNDS INSTITUTIONAL TRUST
- **DATE OF NAME CHANGE:** 19981030

## Series and Classes Contracts Data

### Western Asset SMASh Series M Fund (Series ID: S000014681)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000040179 | SMASh Series M Fund | LMSMX           |

### Western Asset SMASh Series C Fund (Series ID: S000014682)

| Class ID   | Class Name          | Ticker Symbol   |
|:---|:---|:---|
| C000040180 | SMASh Series C Fund | LMLCX           |

### Western Asset SMASh Series TF Fund (Series ID: S000052179)

| Class ID   | Class Name                         | Ticker Symbol   |
|:---|:---|:---|
| C000164185 | Western Asset SMASh Series TF Fund | LSMSX           |

### WESTERN ASSET SMASh SERIES CORE COMPLETION FUND (Series ID: S000069099)

| Class ID   | Class Name                        | Ticker Symbol   |
|:---|:---|:---|
| C000220869 | SMASh SERIES CORE COMPLETION FUND | WAADX           |

## Internal

Converted from PDF <br> Report of Independent Registered Public Accounting Firm<br>To the Board of Trustees of Legg Mason Partners Institutional Trust and Shareholders of Western Asset SMASh Series C Fund, Western Asset SMASh Series Core Completion Fund, Western Asset SMASh Series M Fund, and Western Asset SMASh Series TF Fund<br>In planning and performing our audits of the financial statements of Western Asset SMASh Series C Fund, Western Asset SMASh Series Core Completion Fund, Western Asset SMASh Series M Fund, and Western Asset SMASh Series TF Fund (each a series of Legg Mason Partners Institutional Trust, hereinafter referred to as the "Funds") as of and for the year ended February 28, 2026, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Funds' internal control over financial reporting, including controls over safeguarding securities, as a basis for designing our auditing procedures for the purpose of expressing our opinion on the financial statements and to comply with the requirements of Form N-CEN, but not for the purpose of expressing an opinion on the effectiveness of the Funds' internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Funds' internal control over financial reporting.<br>The management of the Funds is responsible for establishing and maintaining effective internal control over financial reporting. In fulfilling this responsibility, estimates and judgments by management are required to assess the expected benefits and related costs of controls. A company's internal control over financial reporting is a process designed to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles. A company's internal control over financial reporting includes those policies and procedures that (1) pertain to the maintenance of records that, in reasonable detail, accurately and fairly reflect the transactions and dispositions of the assets of the company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the company are being made only in accordance with authorizations of management and directors of the company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use or disposition of a company's assets that could have a material effect on the financial statements.<br>Because of its inherent limitations, internal control over financial reporting may not prevent or detect misstatements. Also, projections of any evaluation of effectiveness to future periods are subject to the risk that controls may become inadequate because of changes in conditions, or that the degree of compliance with the policies or procedures may deteriorate.<br>A deficiency in internal control over financial reporting exists when the design or operation of a control does not allow management or employees, in the normal course of performing their assigned functions, to prevent or detect misstatements on a timely basis. A material weakness is a deficiency, or a combination of deficiencies, in internal control over financial reporting, such that there is a reasonable possibility that a material misstatement of the company's annual or interim financial statements will not be prevented or detected on a timely basis.<br>Our consideration of the Funds' internal control over financial reporting was for the limited purpose described in the first paragraph and would not necessarily disclose all deficiencies in internal control over financial reporting that might be material weaknesses under standards established by the PCAOB. However, we noted no deficiencies in the Funds' internal control over financial reporting and its operation, including controls over safeguarding securities, that we consider to be a material weakness as defined above as of February 28, 2026.<br>This report is intended solely for the information and use of the Board of Trustees of Legg Mason Partners Institutional Trust and the Securities and Exchange Commission and is not intended to be and should not be used by anyone other than these specified parties.<br>/s/PricewaterhouseCoopers LLP<br> Baltimore, Maryland<br> April 20, 2026<br>PricewaterhouseCoopers LLP<br> 100 East Pratt Street, Suite 2600<br> Baltimore, Maryland 21202-1096<br> (410) 783 7600<br> www.pwc.com/us

# Form N-CEN: Annual Report for Registered Investment Companies

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000889512

## N-CEN: Series/Class (Contract) Information

**Series ID Record:1**
- **Series ID:** S000014682

**Series ID Record:2**
- **Series ID:** S000052179

**Series ID Record:3**
- **Series ID:** S000014681

**Series ID Record:4**
- **Series ID:** S000069099

**Class ID Record:1**
- **Class ID:** C000040180

**Class ID Record:2**
- **Class ID:** C000164185

**Class ID Record:3**
- **Class ID:** C000040179

**Class ID Record:4**
- **Class ID:** C000220869

### N-CEN: Part A: General Information

**Item A.1.a - Report for period ending:** 2026-02-28

**Item A.1.b - Does this report cover a period of less than 12 months?:** No

## N-CEN: Part B: Information About the Registrant

- **Item B.1.a - Full name of Registrant:** Legg Mason Partners Institutional Trust

- **Item B.1.b - Investment Company Act file number:** 811-06740

- **Item B.1.c - CIK:** 0000889512

- **Item B.1.d - LEI:** 54930003LJE4ZPPMRV82

- **Item B.2.a - Street 1:** One Madison Avenue

- **Item B.2.a - Street 2:** 17th Floor

- **Item B.2.b - City:** New York

- **Item B.2.c - State:** NY

- **Item B.2.e - Zip Code:** 10010

- **Item B.2.f - Telephone:** 1-877-656-3863

- **Item B.2.g - Public Website:** www.franklintempleton.com

### Item B.3 - Location of books and records

**Location books Record: 1**

- **a. Name of person (e.g., a custodian of records):** Legg Mason Partners Institutional Trust

- **b. Street 1:** One Madison Avenue

- **Street 2:** 17th Floor

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10010

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

- **h. Briefly describe the books and records kept at this location:** Records related to its function as registrant.

**Location books Record: 2**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company Limited

- **b. Street 1:** 10 Exchange Square

- **Street 2:** Primrose Street

- **c. City:** London

- **f. Zip code and zip code extension, or foreign postal code:** EC2A 2EN

- **g. Telephone number:** 44-20-7422-3000

- **h. Briefly describe the books and records kept at this location:** Records related to its function as investment sub-adviser.

**Location books Record: 3**

- **a. Name of person (e.g., a custodian of records):** The Bank of New York Mellon

- **b. Street 1:** 240 Greenwich Street

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10286

- **g. Telephone number:** 212-495-1784

- **h. Briefly describe the books and records kept at this location:** Records related to its function as custodian.

**Location books Record: 4**

- **a. Name of person (e.g., a custodian of records):** BNY Mellon Investment Servicing (US) Inc.

- **b. Street 1:** 500 Ross Street

- **c. City:** Pittsburgh

- **d. State, if applicable:** PA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 15262

- **g. Telephone number:** 412-234-5000

- **h. Briefly describe the books and records kept at this location:** Records related to its function as transfer agent.

**Location books Record: 5**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company Pte. Ltd.

- **b. Street 1:** 1 George Street #23-01

- **c. City:** Singapore

- **f. Zip code and zip code extension, or foreign postal code:** 049145

- **g. Telephone number:** 65-6428-3600

- **h. Briefly describe the books and records kept at this location:** Records related to its function as investment sub-adviser.

**Location books Record: 6**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company, LLC

- **b. Street 1:** 385 East Colorado Boulevard

- **c. City:** Pasadena

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 91101

- **g. Telephone number:** 1-626-844-9400

- **h. Briefly describe the books and records kept at this location:** Records related to its function as sub-adviser.

**Location books Record: 7**

- **a. Name of person (e.g., a custodian of records):** Western Asset Management Company Ltd.

- **b. Street 1:** 5-1 Marunouchi

- **Street 2:** 1-Chome Chiyoda-Ku

- **c. City:** Tokyo

- **f. Zip code and zip code extension, or foreign postal code:** 100-6536

- **g. Telephone number:** 81-03-4520-4300

- **h. Briefly describe the books and records kept at this location:** Records related to its function as investment sub-adviser.

**Location books Record: 8**

- **a. Name of person (e.g., a custodian of records):** Franklin Distributors, LLC

- **b. Street 1:** One Franklin Parkway

- **c. City:** San Mateo

- **d. State, if applicable:** CA

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 94403-1906

- **g. Telephone number:** 1-800-632-2350

- **h. Briefly describe the books and records kept at this location:** Records related to its function as distributor.

**Location books Record: 9**

- **a. Name of person (e.g., a custodian of records):** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **b. Street 1:** One Madison Avenue

- **c. City:** New York

- **d. State, if applicable:** NY

- **e. Foreign country, if applicable:** US

- **f. Zip code and zip code extension, or foreign postal code:** 10010

- **g. Telephone number:** 1-800-822-5544

- **h. Briefly describe the books and records kept at this location:** Records related to its function as investment advisor.

- **Item B.4.a - Is this the first filing by the Registrant?:** No

- **Item B.4.b - Is this the last filing by the Registrant?:** No

- **Item B.5.a - Is the Registrant part of a family of investment companies?:** Yes

- **Item B.5.a.i - Full name of family of investment companies:** FRANKLIN TEMPLETON

### Item B.6 - Organization

- [x] a. Open-end management investment company registered under the Act on Form N-1A

- [ ] b. Closed-end management investment company registered under the Act on Form N-2

- [ ] c. Separate account offering variable annuity contracts which is registered under the Act as a management investment company on Form N-3

- [ ] d. Separate account offering variable annuity contracts which is registered under the Act as a unit investment trust on Form N-4

- [ ] e. Small business investment company registered under the Act on Form N-5

- [ ] f. Separate account offering variable insurance contracts which is registered under the Act as a unit investment trust on Form N-6

- [ ] g. Unit investment trust registered under the Act on Form N-8B-2

- **Item B.6.i - Total number of Series:** 13

- **Item B.7 - Is the Registrant the issuer of a class of securities registered under the Securities Act?:** Yes

### Item B.8 - Directors

| Name                     | Is Interested Person?   | Other Investment Company File Numbers                                                                                                                                                                                                                                                                                                    |
|:---|:---|:---|
| Peter J. Taylor          | No                      | 811-06310, 811-21403, 811-04254, 811-06110, 811-02351, 811-21477, 811-10603, 811-10407, 811-04052                                                                                                                                                                                                                                        |
| Jane Trust               | Yes                     | 811-23930, 811-21403, 811-05497, 811-07920, 811-08709, 811-06506, 811-06310, 811-02351, 811-22444, 811-10407, 811-24075, 811-21467, 811-22294, 811-21343, 811-22491, 811-23408, 811-06444, 811-10603, 811-22369, 811-06629, 811-04052, 811-04254, 811-06110, 811-21477, 811-22338, 811-22334, 811-22546, 811-23598, 811-21337, 811-21128 |
| Michael Larson           | No                      | 811-02351, 811-06110, 811-04052, 811-04254, 811-10407, 811-21477, 811-21403, 811-06310, 811-10603                                                                                                                                                                                                                                        |
| Susan B. Kerley          | No                      | 811-10407, 811-06310, 811-04550, 811-03833-01, 811-21403, 811-22321, 811-21477, 811-10603, 811-02351, 811-04254, 811-06110, 811-04052, 811-22551                                                                                                                                                                                         |
| Robert Abeles, Jr.       | No                      | 811-06110, 811-02351, 811-10407, 811-04052, 811-21477, 811-21403, 811-06310, 811-10603, 811-04254                                                                                                                                                                                                                                        |
| Avedick B. Poladian      | No                      | 811-06110, 811-04052, 811-04254, 811-21403, 811-10407, 811-21477, 811-02351, 811-06310, 811-10603                                                                                                                                                                                                                                        |
| William E. B. Siart      | No                      | 811-21477, 811-10603, 811-02351, 811-04052, 811-10407, 811-04254, 811-21403, 811-06310, 811-06110                                                                                                                                                                                                                                        |
| Ronald L. Olson          | Yes                     | 811-06310, 811-10603, 811-21477, 811-06110, 811-02351, 811-10407, 811-04254, 811-04052, 811-21403                                                                                                                                                                                                                                        |
| Jane F. Dasher           | No                      | 811-10603, 811-04254, 811-21403, 811-06110, 811-02351, 811-06310, 811-21477, 811-10407, 811-04052                                                                                                                                                                                                                                        |
| Jaynie Miller Studenmund | No                      | 811-10407, 811-06310, 811-10603, 811-04052, 811-02351, 811-21403, 811-06110, 811-04254, 811-21477                                                                                                                                                                                                                                        |
| Anita L. DeFrantz        | No                      | 811-02351, 811-06310, 811-10603, 811-21477, 811-10407, 811-04254, 811-21403, 811-06110, 811-04052                                                                                                                                                                                                                                        |

### Item B.9. Chief compliance officer.

**Chief compliance officer Record: 1**

- **a. Full Name:** Ted P. Becker

- **b. CRD Number, if any:** N/A

- **c. Street Address 1:** One Madison Avenue

- **   Street Address 2:** 17th Floor

- **d. City:** New York

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Zip code:** 10010

- **h. Telephone number:** XXXXXX

- **i. Has the chief compliance officer changed since the last filing?:** No

If the chief compliance officer is compensated or employed by any person other than the Registrant, provide:

**CCO employer Record: 1**

- **i. Name of the person:** —

- **ii. Person’s IRS Employer Identification Number:** —

### Item B.10. Matters for security holder vote.

- **Were any matters submitted by the Registrant for its security holders’ vote during the reporting period?** No

- **Item B.11.a - Have there been any material legal proceedings?:** No

- **Item B.11.b - Has any proceeding previously reported been terminated?:** No

- **Item B.12.a - Were any claims with respect to the Registrant filed under a fidelity bond?:** No

- **Item B.13.a - Are the Registrant's officers or directors covered under any insurance policy?:** Yes

- **Item B.13.a.i - If yes, were any claims filed under the policy during the reporting period?:** No

- **Item B.14 - Did an affiliated person provide any form of financial support to the Registrant?:** No

- **Item B.15.a.i - Release numbers:**
  - IC-19023

### Item B.16. Principal underwriters.

**Principal underwriter Record: 1**

- **i. Full name:** Franklin Distributors, LLC

- **ii. SEC file number:** 008-53089

- **iii. CRD number:** 000109064

- **iv. LEI, if any:** N/A

- **v. State, if applicable:** CA

- **vi. Foreign country, if applicable:** US

- **vii. Is the principal underwriter an affiliated person...?:** Yes

- **b. Have any principal underwriters been hired or terminated during the reporting period?** No

### Item B.17. Independent public accountant.

**Public accountant Record: 1**

- **a. Full Name:** PricewaterhouseCoopers LLP

- **b. PCAOB Number:** 238

- **c. LEI, if any:** 5493002GVO7EO8RNNS37

- **d. State, if applicable:** MD

- **e. Foreign country, if applicable:** US

- **f. Has the independent public accountant changed since the last filing?** No

- **Item B.18 - Did an independent public accountant's report on internal control note any material weaknesses?:** No

- **Item B.19 - Did an independent public accountant issue an opinion other than an unqualified opinion?:** No

- **Item B.20 - Have there been material changes in the method of valuation?:** No

- **Item B.21 - Have there been any changes in accounting principles or practices?:** No

- **Item B.22.a - Were any payments made to shareholders as a result of an error in calculating NAV?:** No

- **Item B.23 - Did the Registrant pay any dividend or make any distribution required to be accompanied by a written statement?:** No

## Part C: Additional Questions for Management Investment Companies

### Management Investment Record: 1 - Western Asset SMASh Series C Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Western Asset SMASh Series C Fund

- **b. Series identification number, if any:** S000014682

- **c. LEI:** 54930003EFT6H1PI7A06

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 1

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | SMASh Series C Fund     | C000040180                                | LMLCX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company Limited

- **ii. SEC file number:** 801-21068

- **iii. CRD number:** 000110427

- **iv. LEI, if any:** 549300IVCLHPHPOYT226

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-08162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,499.61

**Brokers Record: 2**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,477.24

**Brokers Record: 3**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,869.83

**Brokers Record: 4**

- **i. Full name of broker:** NOMURA SECURITIES INTERNATIONAL, INC.

- **ii. SEC file number:** 008-15255

- **iii. CRD number:** 000004297

- **iv. LEI, if any:** OXTKY6Q8X53C9ILVV871

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,363.18

**Brokers Record: 5**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,530.99

**Brokers Record: 6**

- **i. Full name of broker:** J.P. MORGAN SECURITIES LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,904.55

**Brokers Record: 7**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,719.50

**Brokers Record: 8**

- **i. Full name of broker:** BOFA SECURITIES, INC.

- **ii. SEC file number:** 008-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,375.11

**Brokers Record: 9**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $6,511.72

**Brokers Record: 10**

- **i. Full name of broker:** DEUTSCHE BANK SECURITIES INC.

- **ii. SEC file number:** 008-17822

- **iii. CRD number:** 000002525

- **iv. LEI, if any:** 9J6MBOOO7BECTDTUZW19

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,742.11

**Aggregate Commission:** $48,841.36

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| CitiGroup Global Markets Inc. | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $4,422,536.14             |
| MIZUHO SECURITIES USA, INC.   | 008-37710         |    000019647 | 7TK5RJIZDFROZCA6XF66 | NY      | US        | $9,808,547.75             |
| J.P. Morgan Securities LLC    | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $16,653,291.29            |
| BOFA SECURITIES, INC.         | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $34,812,726.06            |
| BNP PARIBAS SECURITIES CORP.  | 008-32682         |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $4,874,490.33             |
| BMO CAPITAL MARKETS CORP.     | 008-34344         |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $5,440,165.02             |
| UBS SECURITIES LLC            | 008-22651         |    000007654 | T6FIZBDPKLYJKFCRVK44 | NY      | US        | $3,935,426.51             |
| GOLDMAN SACHS & CO. LLC       | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $917,184,612.38           |
| SCOTIA CAPITAL (USA), INC.    | 008-03716         |    000002739 | 549300BLWPABP1VNME36 | NY      | US        | $4,345,830.00             |
| MORGAN STANLEY & CO. LLC      | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $27,883,346.36            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $1,051,055,985.64

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $369,584,776.67

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 2 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 3 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 5 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 6 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 7 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 10 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 11 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 12 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 13 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 14 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 15 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 16 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 17 Name of institution:** BARCLAYS BANK PLC

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                           | SEC File number   |
|:---|:---|
| Franklin S&P 500 Index Fund                                            | 811-06444         |
| Franklin Growth Allocation Fund                                        | 811-07851         |
| Franklin Multi-Asset Variable Moderate Growth Fund                     | 811-21128         |
| ClearBridge Select Fund                                                | 811-06444         |
| Franklin Multi-Asset Defensive Growth Fund                             | 811-06444         |
| Western Asset Oregon Municipals Fund                                   | 811-04254         |
| Putnam Ultra Short MAC Series                                          | 811-07513         |
| Franklin Multi-Asset Variable Growth Fund                              | 811-21128         |
| Western Asset Corporate Bond Fund                                      | 811-04254         |
| Western Asset New Jersey Municipals Fund                               | 811-04254         |
| Putnam Income Fund                                                     | 811-00653         |
| Franklin Biotechnology Discovery Fund                                  | 811-06243         |
| Putnam International Value Fund                                        | 811-07513         |
| Templeton Sustainable Emerging Markets Bond Fund                       | 811-04706         |
| Western Asset Intermediate Bond Fund                                   | 811-06110         |
| Western Asset Intermediate Maturity California Municipals Fund         | 811-04254         |
| Franklin Templeton SMACS: Series EM                                    | 811-08226         |
| Franklin Growth Opportunities Fund                                     | 811-06243         |
| Franklin LifeSmart 2055 Retirement Target Fund                         | 811-07851         |
| Western Asset Municipal High Income Fund                               | 811-04254         |
| Templeton Foreign Fund                                                 | 811-02781         |
| Franklin Small-Mid Cap Growth VIP Fund                                 | 811-05583         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                | 811-04149         |
| Franklin Floating Rate Master Series                                   | 811-09869         |
| Western Asset New York Municipals Fund                                 | 811-04254         |
| ClearBridge Appreciation Fund                                          | 811-06444         |
| Putnam Dynamic Asset Allocation Balanced Fund                          | 811-07121         |
| Franklin Michigan Tax-Free Income Fund                                 | 811-04149         |
| Franklin New Jersey Tax-Free Income Fund                               | 811-04149         |
| Franklin Corefolio Allocation Fund                                     | 811-07851         |
| Putnam Focused Equity Fund                                             | 811-07513         |
| Putnam Multi-Asset Income Fund                                         | 811-07121         |
| Putnam High Yield Fund                                                 | 811-04616         |
| ClearBridge Dividend Strategy Fund                                     | 811-06444         |
| Franklin Emerging Market Debt Opportunities Fund                       | 811-10157         |
| Putnam VT Global Asset Allocation Fund                                 | 811-05346         |
| Franklin Convertible Securities Fund                                   | 811-04986         |
| Putnam Focused International Equity Fund                               | 811-01403         |
| Western Asset High Yield Fund                                          | 811-06110         |
| Putnam Short Duration Bond Fund                                        | 811-07513         |
| ClearBridge Variable Mid Cap Portfolio                                 | 811-21128         |
| Franklin Global Allocation Fund                                        | 811-07851         |
| Western Asset SMASh Series M Fund                                      | 811-06740         |
| ClearBridge Small Cap Growth Fund                                      | 811-06444         |
| ClearBridge Variable Appreciation Portfolio                            | 811-21128         |
| Franklin Federal Tax-Free Income Fund                                  | 811-03395         |
| Franklin International Growth Fund                                     | 811-10157         |
| Franklin Multi-Asset Growth Fund                                       | 811-06444         |
| ClearBridge SMASh Series EM Fund                                       | 811-22338         |
| Templeton World Fund                                                   | 811-02781         |
| Franklin U.S. Large Cap Equity Fund                                    | 811-06444         |
| Western Asset California Municipals Fund                               | 811-04254         |
| Templeton Growth Fund, Inc.                                            | 811-04892         |
| Franklin North Carolina Tax-Free Income Fund                           | 811-04149         |
| Putnam Large Cap Value Fund                                            | 811-02742         |
| Putnam Mortgage Opportunities Fund                                     | 811-07513         |
| Franklin Mutual Beacon Fund                                            | 811-05387         |
| Putnam Sustainable Future Fund                                         | 811-07237         |
| Putnam Small Cap Growth Fund                                           | 811-07513         |
| Franklin California Intermediate-Term Tax-Free Income Fund             | 811-04356         |
| Franklin Total Return Fund                                             | 811-04986         |
| Franklin Templeton Conservative Model Portfolio                        | 811-21128         |
| Western Asset Core Plus Bond Fund                                      | 811-06110         |
| Franklin Templeton Moderate Model Portfolio                            | 811-21128         |
| Putnam Mortgage Securities Fund                                        | 811-03897         |
| Franklin Mutual Shares VIP Fund                                        | 811-05583         |
| ClearBridge Large Cap Growth Fund                                      | 811-06444         |
| Franklin Low Duration Total Return Fund                                | 811-04986         |
| Franklin Growth Fund                                                   | 811-00537         |
| Franklin Natural Resources Fund                                        | 811-06243         |
| Western Asset Total Return Unconstrained Fund                          | 811-06110         |
| Putnam Emerging Markets Equity Fund                                    | 811-07513         |
| Putnam VT Research Fund                                                | 811-05346         |
| Franklin Multi-Asset Moderate Growth Fund                              | 811-06444         |
| Templeton Developing Markets VIP Fund                                  | 811-05583         |
| ClearBridge Emerging Markets Fund                                      | 811-22338         |
| ClearBridge Variable Growth Portfolio                                  | 811-21128         |
| Franklin Rising Dividends VIP Fund                                     | 811-05583         |
| Franklin Income VIP Fund                                               | 811-05583         |
| ClearBridge Variable Dividend Strategy Portfolio                       | 811-21128         |
| Franklin High Yield Tax-Free Income Fund                               | 811-04149         |
| Franklin Alternative Strategies Fund                                   | 811-22641         |
| Western Asset Massachusetts Municipals Fund                            | 811-04254         |
| Franklin Mutual Shares Fund                                            | 811-05387         |
| Franklin Colorado Tax-Free Income Fund                                 | 811-04149         |
| Franklin Conservative Allocation Fund                                  | 811-07851         |
| Putnam Diversified Income Trust                                        | 811-05635         |
| Franklin Mutual Quest Fund                                             | 811-05387         |
| ClearBridge Variable Large Cap Value Portfolio                         | 811-21128         |
| Franklin U.S. Government Securities Fund                               | 811-00537         |
| Templeton Developing Markets Trust                                     | 811-06378         |
| BrandywineGLOBAL - High Yield Fund                                     | 811-06444         |
| Franklin U.S. Small Cap Equity Fund                                    | 811-22338         |
| Franklin Senior Loan ETF                                               | 811-23124         |
| Franklin Strategic Income VIP Fund                                     | 811-05583         |
| Putnam Floating Rate Income Fund                                       | 811-07513         |
| Western Asset Mortgage Total Return Fund                               | 811-04254         |
| Putnam Dynamic Asset Allocation Equity Fund                            | 811-07513         |
| Putnam Short-Term Municipal Income Fund                                | 811-07513         |
| Western Asset Bond ETF                                                 | 811-23124         |
| Putnam Small Cap Value Fund                                            | 811-07237         |
| Putnam Ultra Short Duration Income Fund                                | 811-07513         |
| BrandywineGLOBAL - Global Opportunities Bond Fund                      | 811-22338         |
| Templeton Global Dynamic Income Fund                                   | 811-08226         |
| Putnam Dynamic Asset Allocation Conservative Fund                      | 811-07121         |
| Franklin Templeton Aggressive Model Portfolio                          | 811-21128         |
| Templeton Foreign VIP Fund                                             | 811-05583         |
| Franklin Real Estate Securities Fund                                   | 811-08034         |
| Western Asset Income Fund                                              | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund           | 811-04254         |
| Franklin Virginia Tax-Free Income Fund                                 | 811-04149         |
| Western Asset Core Bond Fund                                           | 811-06110         |
| Franklin Rising Dividends Fund                                         | 811-04894         |
| ClearBridge Mid Cap Growth Fund                                        | 811-06444         |
| Franklin Equity Income Fund                                            | 811-04986         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund                     | 811-22338         |
| Franklin Massachusetts Tax-Free Income Fund                            | 811-04149         |
| Franklin DynaTech VIP Fund                                             | 811-05583         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund) | 811-07513         |
| Franklin Mutual Global Discovery Fund                                  | 811-05387         |
| Franklin U.S. Government Securities VIP Fund                           | 811-05583         |
| Western Asset Long Credit VIT                                          | 811-06310         |
| Putnam VT High Yield Fund                                              | 811-05346         |
| Franklin Maryland Tax-Free Income Fund                                 | 811-04149         |
| Putnam VT Focused International Equity Fund                            | 811-05346         |
| Putnam VT Core Equity Fund                                             | 811-05346         |
| ClearBridge International Value Fund                                   | 811-06444         |
| Putnam VT Small Cap Value Fund                                         | 811-05346         |
| Franklin Global Real Estate VIP Fund                                   | 811-05583         |
| Franklin Georgia Tax-Free Income Fund                                  | 811-04149         |
| ClearBridge Mid Cap Fund                                               | 811-06444         |
| Franklin New York Intermediate-Term Tax-Free Income Fund               | 811-04787         |
| Putnam Large Cap Growth Fund                                           | 811-07237         |
| Franklin Mutual U.S. Mid Cap Value Fund                                | 811-05878         |
| Franklin Long Duration Credit Fund                                     | 811-04986         |
| Putnam VT Sustainable Leaders Fund                                     | 811-05346         |
| BrandywineGLOBAL - Corporate Credit Fund                               | 811-06444         |
| Putnam Sustainable Leaders Fund                                        | 811-06128         |
| ClearBridge Tactical Dividend Income Fund                              | 811-06444         |
| Franklin California High Yield Municipal Fund                          | 811-06481         |
| Franklin Floating Rate Daily Access Fund                               | 811-04986         |
| Templeton Global Total Return Fund                                     | 811-04706         |
| Franklin Louisiana Tax-Free Income Fund                                | 811-04149         |
| Franklin New York Tax-Free Income Fund                                 | 811-03479         |
| Putnam VT Emerging Markets Equity Fund                                 | 811-05346         |
| Western Asset Ultra-Short Income Fund                                  | 811-04254         |
| Franklin Mutual Small-Mid Cap Value Fund                               | 811-05878         |
| Putnam VT Mortgage Securities Fund                                     | 811-05346         |
| Western Asset SMASh Series TF Fund                                     | 811-06740         |
| Franklin Core Plus Bond Fund                                           | 811-06243         |
| Franklin Small Cap Value VIP Fund                                      | 811-05583         |
| Franklin Large Cap Growth VIP Fund                                     | 811-05583         |
| Franklin Small Cap Value Fund                                          | 811-05878         |
| Franklin Gold and Precious Metals Fund                                 | 811-01700         |
| ClearBridge Variable Large Cap Growth Portfolio                        | 811-21128         |
| Templeton Global Smaller Companies Fund                                | 811-03143         |
| Putnam International Small Cap Fund                                    | 811-07237         |
| Franklin Managed Income fund                                           | 811-04986         |
| Franklin Small Cap Growth Fund                                         | 811-06243         |
| Franklin Mutual International Value Fund                               | 811-05387         |
| Franklin Utilities Fund                                                | 811-00537         |
| Putnam VT Small Cap Growth Fund                                        | 811-05346         |
| Western Asset Short-Term Bond Fund                                     | 811-04254         |
| Franklin Small-Mid Cap Growth Fund                                     | 811-06243         |
| Putnam International Equity Fund                                       | 811-06190         |
| Templeton Global Bond Fund                                             | 811-04706         |
| Templeton Emerging Markets Small Cap Fund                              | 811-08226         |
| Western Asset Variable Global High Yield Bond Portfolio                | 811-06310         |
| International Equity Series                                            | 811-06135         |
| Franklin Mutual Global Discovery VIP Fund                              | 811-05583         |
| Franklin LifeSmart 2050 Retirement Target Fund                         | 811-07851         |
| Franklin Connecticut Tax-Free Income Fund                              | 811-04149         |
| Templeton Global Bond VIP Fund                                         | 811-05583         |
| Franklin Growth and Income VIP Fund                                    | 811-05583         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                 | 811-22338         |
| Franklin Low Duration U.S. Government Securities Fund                  | 811-04986         |
| Western Asset Short Duration Municipal Income Fund                     | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                        | 811-21128         |
| Franklin Templeton SMACS: Series I                                     | 811-06243         |
| Franklin Templeton SMACS: Series E                                     | 811-06243         |
| Putnam Global Income Trust                                             | 811-04524         |
| Putnam VT George Putnam Balanced Fund                                  | 811-05346         |
| Putnam U.S. Research Fund                                              | 811-07237         |
| Franklin Templeton Moderately Conservative Model Portfolio             | 811-21128         |
| Franklin LifeSmart 2060 Retirement Target Fund                         | 811-07851         |
| Franklin LifeSmart 2030 Retirement Target Fund                         | 811-07851         |
| Franklin DynaTech Fund                                                 | 811-00537         |
| Franklin International Equity Fund                                     | 811-22338         |
| Franklin High Income Fund                                              | 811-01608         |
| Franklin Global Equity Fund                                            | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                         | 811-06110         |
| Western Asset Intermediate-Term Municipals Fund                        | 811-04254         |
| Putnam VT Diversified Income Fund                                      | 811-05346         |
| Franklin LifeSmart 2035 Retirement Target Fund                         | 811-07851         |
| Putnam VT Income Fund                                                  | 811-05346         |
| Franklin Templeton SMACS: Series H                                     | 811-06243         |
| George Putnam Balanced Fund                                            | 811-00058         |
| Putnam VT Large Cap Value Fund                                         | 811-05346         |
| Putnam VT International Value Fund                                     | 811-05346         |
| Franklin LifeSmart 2040 Retirement Target Fund                         | 811-07851         |
| ClearBridge Value Fund                                                 | 811-22338         |
| Templeton Growth VIP Fund                                              | 811-05583         |
| BrandywineGLOBAL - Flexible Bond Fund                                  | 811-22338         |
| Putnam VT International Equity Fund                                    | 811-05346         |
| Franklin Minnesota Tax-Free Income Fund                                | 811-04149         |
| Franklin Arizona Tax-Free Income Fund                                  | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                                  | 811-04149         |
| Franklin Multi-Asset Variable Conservative Growth Fund                 | 811-21128         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)             | 811-07513         |
| Putnam Dynamic Asset Allocation Growth Fund                            | 811-07121         |
| Western Asset SMASh Series Core Completion Fund                        | 811-06740         |
| Franklin Multi-Asset Conservative Growth Fund                          | 811-06444         |
| Western Asset Managed Municipals Fund                                  | 811-04254         |
| Franklin Templeton Moderately Aggressive Model Portfolio               | 811-21128         |
| Franklin Moderate Allocation Fund                                      | 811-07851         |
| Franklin California Tax-Free Income Fund                               | 811-02790         |
| Franklin Federal Limited-Term Tax-Free Income Fund                     | 811-04149         |
| ClearBridge International Growth Fund                                  | 811-22338         |
| Putnam VT Large Cap Growth Fund                                        | 811-05346         |
| ClearBridge Global Infrastructure Income Fund                          | 811-22338         |
| Franklin LifeSmart Retirement Income Fund                              | 811-07851         |
| Foreign Smaller Companies Series                                       | 811-06135         |
| Western Asset Short Duration High Income Fund                          | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                         | 811-07851         |
| ClearBridge Large Cap Value Fund                                       | 811-06444         |
| Western Asset Pennsylvania Municipals Fund                             | 811-04254         |
| Franklin High Yield Corporate ETF                                      | 811-23124         |
| Franklin BSP CLO ETF                                                   | 811-23124         |
| Western Asset Core Plus VIT Portfolio                                  | 811-06310         |
| ClearBridge Sustainability Leaders Fund                                | 811-06444         |
| Putnam Global Health Care Fund                                         | 811-03386         |
| Franklin LifeSmart 2045 Retirement Target Fund                         | 811-07851         |
| Western Asset SMASh Series Core Plus Completion Fund                   | 811-06740         |
| Putnam VT Sustainable Future Fund                                      | 811-05346         |
| ClearBridge Small Cap Fund                                             | 811-22338         |
| Franklin Templeton SMACS: Series CH                                    | 811-06243         |
| Franklin LifeSmart 2025 Retirement Target Fund                         | 811-07851         |
| Putnam Global Technology Fund                                          | 811-07513         |
| Franklin Missouri Tax-Free Income Fund                                 | 811-04149         |
| Franklin Pennsylvania Tax-Free Income Fund                             | 811-04149         |
| Franklin Oregon Tax-Free Income Fund                                   | 811-04149         |
| Franklin Income Fund                                                   | 811-00537         |
| Putnam Convertible Securities Fund                                     | 811-02280         |
| Putnam VT Global Health Care Fund                                      | 811-05346         |
| Franklin Allocation VIP Fund                                           | 811-05583         |
| Franklin Templeton SMACS: Series C                                     | 811-06243         |
| Franklin Templeton SMACS: Series CP                                    | 811-06243         |
| ClearBridge Growth Fund                                                | 811-06444         |
| Franklin Ohio Tax-Free Income Fund                                     | 811-04149         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 2 - Western Asset SMASh Series TF Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Western Asset SMASh Series TF Fund

- **b. Series identification number, if any:** S000052179

- **c. LEI:** 5493003A2LBRM2IHU229

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 1

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class              | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | Western Asset SMASh Series TF Fund | C000164185                                | LSMSX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 17a-7 (17 CFR 270.17a-7)

- Rule 18f-4 (17 CFR 270.18f-4)

- Rule 18f-4(c)(4) (17CFR 270.18f-4(c)(4))

- Rule 22d-1 (17 CFR 270.22d-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-08162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $43.25

**Aggregate Commission:** $43.25

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| WELLS FARGO SECURITIES, LLC   | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $17,150,402.35            |
| RBC CAPITAL MARKETS, LLC      | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $3,362,161.25             |
| J.P. Morgan Securities LLC    | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $11,599,841.25            |
| BOFA SECURITIES, INC.         | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $13,433,161.28            |
| TD SECURITIES (USA) LLC       | 008-36747         |    000018476 | SUVUFHICNZMP2WKHG940 | NY      | US        | $3,634,926.20             |
| Academy Securities, Inc.      | 008-35173         |    000017433 | 2549000QX6RLQOZ2XC11 | NY      | US        | $54,589,433.09            |
| MORGAN STANLEY & CO. LLC      | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $6,589,694.60             |
| BARCLAYS CAPITAL, INC.        | 008-41342         |    000019714 | AC28XWWI3WIBK2824319 | NY      | US        | $7,346,354.89             |
| PERSHING LLC                  | 008-17574         |    000007560 | ZI8Q1A8EI8LQFJNM0D94 | NJ      | US        | $19,240,258.80            |
| CitiGroup Global Markets Inc. | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $8,099,212.52             |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $163,392,457.16

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $93,885,706.77

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 2 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 4 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 5 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 6 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 8 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 9 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 11 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 12 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 13 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 14 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 15 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 16 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 17 Name of institution:** DEUTSCHE BANK AG

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                           | SEC File number   |
|:---|:---|
| Franklin Income VIP Fund                                               | 811-05583         |
| Franklin Growth Opportunities Fund                                     | 811-06243         |
| Putnam Mortgage Securities Fund                                        | 811-03897         |
| Putnam Dynamic Asset Allocation Equity Fund                            | 811-07513         |
| Western Asset Variable Global High Yield Bond Portfolio                | 811-06310         |
| Franklin Georgia Tax-Free Income Fund                                  | 811-04149         |
| Franklin Connecticut Tax-Free Income Fund                              | 811-04149         |
| Franklin Managed Income fund                                           | 811-04986         |
| Putnam VT International Value Fund                                     | 811-05346         |
| ClearBridge Global Infrastructure Income Fund                          | 811-22338         |
| Western Asset Intermediate Bond Fund                                   | 811-06110         |
| Templeton Global Bond Fund                                             | 811-04706         |
| Franklin Templeton SMACS: Series CP                                    | 811-06243         |
| Franklin Templeton SMACS: Series EM                                    | 811-08226         |
| Franklin Mutual Quest Fund                                             | 811-05387         |
| Western Asset Pennsylvania Municipals Fund                             | 811-04254         |
| Western Asset Corporate Bond Fund                                      | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund           | 811-04254         |
| Franklin LifeSmart 2050 Retirement Target Fund                         | 811-07851         |
| Western Asset Massachusetts Municipals Fund                            | 811-04254         |
| ClearBridge Variable Dividend Strategy Portfolio                       | 811-21128         |
| Templeton Sustainable Emerging Markets Bond Fund                       | 811-04706         |
| Western Asset Ultra-Short Income Fund                                  | 811-04254         |
| Franklin Corefolio Allocation Fund                                     | 811-07851         |
| Putnam Dynamic Asset Allocation Balanced Fund                          | 811-07121         |
| Putnam Small Cap Growth Fund                                           | 811-07513         |
| Western Asset SMASh Series C Fund                                      | 811-06740         |
| Templeton Developing Markets VIP Fund                                  | 811-05583         |
| BrandywineGLOBAL - Global Opportunities Bond Fund                      | 811-22338         |
| Franklin LifeSmart 2030 Retirement Target Fund                         | 811-07851         |
| Putnam Ultra Short MAC Series                                          | 811-07513         |
| Templeton Foreign VIP Fund                                             | 811-05583         |
| Franklin Alternative Strategies Fund                                   | 811-22641         |
| Franklin LifeSmart 2045 Retirement Target Fund                         | 811-07851         |
| Putnam VT George Putnam Balanced Fund                                  | 811-05346         |
| Putnam International Small Cap Fund                                    | 811-07237         |
| Franklin Templeton Moderately Conservative Model Portfolio             | 811-21128         |
| ClearBridge Variable Small Cap Growth Portfolio                        | 811-21128         |
| Franklin Gold and Precious Metals Fund                                 | 811-01700         |
| Western Asset Short Duration Municipal Income Fund                     | 811-04254         |
| Franklin Small-Mid Cap Growth Fund                                     | 811-06243         |
| Western Asset Intermediate-Term Municipals Fund                        | 811-04254         |
| Franklin Small-Mid Cap Growth VIP Fund                                 | 811-05583         |
| Putnam Large Cap Growth Fund                                           | 811-07237         |
| Putnam VT Small Cap Growth Fund                                        | 811-05346         |
| ClearBridge Growth Fund                                                | 811-06444         |
| Western Asset Oregon Municipals Fund                                   | 811-04254         |
| Franklin Global Allocation Fund                                        | 811-07851         |
| Franklin U.S. Large Cap Equity Fund                                    | 811-06444         |
| Western Asset New Jersey Municipals Fund                               | 811-04254         |
| Franklin LifeSmart 2040 Retirement Target Fund                         | 811-07851         |
| Templeton Global Smaller Companies Fund                                | 811-03143         |
| Franklin Pennsylvania Tax-Free Income Fund                             | 811-04149         |
| Western Asset Intermediate Maturity California Municipals Fund         | 811-04254         |
| Western Asset SMASh Series M Fund                                      | 811-06740         |
| Franklin Low Duration U.S. Government Securities Fund                  | 811-04986         |
| ClearBridge Emerging Markets Fund                                      | 811-22338         |
| Franklin Low Duration Total Return Fund                                | 811-04986         |
| Putnam Global Health Care Fund                                         | 811-03386         |
| Putnam U.S. Research Fund                                              | 811-07237         |
| Putnam Sustainable Leaders Fund                                        | 811-06128         |
| Western Asset Managed Municipals Fund                                  | 811-04254         |
| Templeton Developing Markets Trust                                     | 811-06378         |
| Western Asset Core Plus Bond Fund                                      | 811-06110         |
| Western Asset Core Bond Fund                                           | 811-06110         |
| Franklin Allocation VIP Fund                                           | 811-05583         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                | 811-04149         |
| Putnam International Equity Fund                                       | 811-06190         |
| Templeton Global Bond VIP Fund                                         | 811-05583         |
| Putnam VT Mortgage Securities Fund                                     | 811-05346         |
| Franklin LifeSmart Retirement Income Fund                              | 811-07851         |
| Franklin LifeSmart 2025 Retirement Target Fund                         | 811-07851         |
| Western Asset SMASh Series Core Plus Completion Fund                   | 811-06740         |
| Franklin Conservative Allocation Fund                                  | 811-07851         |
| Franklin Alabama Tax-Free Income Fund                                  | 811-04149         |
| Franklin Templeton Moderate Model Portfolio                            | 811-21128         |
| Western Asset Income Fund                                              | 811-04254         |
| Western Asset High Yield Fund                                          | 811-06110         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)             | 811-07513         |
| Franklin New York Tax-Free Income Fund                                 | 811-03479         |
| Franklin Large Cap Growth VIP Fund                                     | 811-05583         |
| Putnam VT Sustainable Future Fund                                      | 811-05346         |
| Franklin S&P 500 Index Fund                                            | 811-06444         |
| Western Asset Bond ETF                                                 | 811-23124         |
| ClearBridge Tactical Dividend Income Fund                              | 811-06444         |
| Putnam International Value Fund                                        | 811-07513         |
| Franklin Templeton SMACS: Series CH                                    | 811-06243         |
| Putnam Global Income Trust                                             | 811-04524         |
| Franklin Virginia Tax-Free Income Fund                                 | 811-04149         |
| Western Asset California Municipals Fund                               | 811-04254         |
| Franklin Core Plus Bond Fund                                           | 811-06243         |
| ClearBridge Variable Appreciation Portfolio                            | 811-21128         |
| Franklin Moderate Allocation Fund                                      | 811-07851         |
| Franklin Templeton SMACS: Series C                                     | 811-06243         |
| Putnam VT International Equity Fund                                    | 811-05346         |
| Franklin Federal Tax-Free Income Fund                                  | 811-03395         |
| Putnam VT Core Equity Fund                                             | 811-05346         |
| Franklin Multi-Asset Growth Fund                                       | 811-06444         |
| Franklin Total Return Fund                                             | 811-04986         |
| ClearBridge Small Cap Growth Fund                                      | 811-06444         |
| Franklin New Jersey Tax-Free Income Fund                               | 811-04149         |
| Franklin Federal Limited-Term Tax-Free Income Fund                     | 811-04149         |
| Putnam VT Large Cap Growth Fund                                        | 811-05346         |
| Putnam VT Income Fund                                                  | 811-05346         |
| Franklin Biotechnology Discovery Fund                                  | 811-06243         |
| Franklin Global Real Estate VIP Fund                                   | 811-05583         |
| Putnam VT High Yield Fund                                              | 811-05346         |
| ClearBridge Appreciation Fund                                          | 811-06444         |
| ClearBridge Small Cap Fund                                             | 811-22338         |
| Franklin Oregon Tax-Free Income Fund                                   | 811-04149         |
| ClearBridge Sustainability Leaders Fund                                | 811-06444         |
| BrandywineGLOBAL - Flexible Bond Fund                                  | 811-22338         |
| Franklin Ohio Tax-Free Income Fund                                     | 811-04149         |
| Franklin Louisiana Tax-Free Income Fund                                | 811-04149         |
| ClearBridge Large Cap Value Fund                                       | 811-06444         |
| International Equity Series                                            | 811-06135         |
| Foreign Smaller Companies Series                                       | 811-06135         |
| Putnam Diversified Income Trust                                        | 811-05635         |
| Franklin Income Fund                                                   | 811-00537         |
| Putnam Multi-Asset Income Fund                                         | 811-07121         |
| Franklin Mutual U.S. Mid Cap Value Fund                                | 811-05878         |
| Templeton World Fund                                                   | 811-02781         |
| Putnam VT Research Fund                                                | 811-05346         |
| ClearBridge Large Cap Growth Fund                                      | 811-06444         |
| Franklin Floating Rate Master Series                                   | 811-09869         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund) | 811-07513         |
| Franklin International Equity Fund                                     | 811-22338         |
| Putnam VT Focused International Equity Fund                            | 811-05346         |
| Western Asset New York Municipals Fund                                 | 811-04254         |
| Putnam VT Large Cap Value Fund                                         | 811-05346         |
| Putnam Global Technology Fund                                          | 811-07513         |
| Franklin LifeSmart 2055 Retirement Target Fund                         | 811-07851         |
| Franklin Mutual Global Discovery VIP Fund                              | 811-05583         |
| Franklin Templeton Aggressive Model Portfolio                          | 811-21128         |
| Putnam Floating Rate Income Fund                                       | 811-07513         |
| Franklin Growth and Income VIP Fund                                    | 811-05583         |
| Franklin Convertible Securities Fund                                   | 811-04986         |
| Putnam Focused Equity Fund                                             | 811-07513         |
| Putnam Convertible Securities Fund                                     | 811-02280         |
| Franklin Massachusetts Tax-Free Income Fund                            | 811-04149         |
| ClearBridge International Value Fund                                   | 811-06444         |
| Franklin Equity Income Fund                                            | 811-04986         |
| Franklin Multi-Asset Conservative Growth Fund                          | 811-06444         |
| ClearBridge Variable Mid Cap Portfolio                                 | 811-21128         |
| Franklin BSP CLO ETF                                                   | 811-23124         |
| Franklin California Intermediate-Term Tax-Free Income Fund             | 811-04356         |
| Putnam VT Small Cap Value Fund                                         | 811-05346         |
| Franklin Michigan Tax-Free Income Fund                                 | 811-04149         |
| Franklin U.S. Government Securities Fund                               | 811-00537         |
| Franklin Multi-Asset Variable Growth Fund                              | 811-21128         |
| Franklin Growth Fund                                                   | 811-00537         |
| Templeton Global Total Return Fund                                     | 811-04706         |
| Franklin California High Yield Municipal Fund                          | 811-06481         |
| Franklin Templeton SMACS: Series H                                     | 811-06243         |
| Putnam Income Fund                                                     | 811-00653         |
| Franklin Mutual Small-Mid Cap Value Fund                               | 811-05878         |
| Franklin U.S. Small Cap Equity Fund                                    | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                        | 811-21128         |
| Franklin Global Equity Fund                                            | 811-06444         |
| Franklin U.S. Government Securities VIP Fund                           | 811-05583         |
| Franklin Utilities Fund                                                | 811-00537         |
| Franklin High Yield Tax-Free Income Fund                               | 811-04149         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund                     | 811-22338         |
| ClearBridge SMASh Series EM Fund                                       | 811-22338         |
| Franklin New York Intermediate-Term Tax-Free Income Fund               | 811-04787         |
| Franklin Rising Dividends VIP Fund                                     | 811-05583         |
| Franklin Senior Loan ETF                                               | 811-23124         |
| Putnam VT Sustainable Leaders Fund                                     | 811-05346         |
| Western Asset SMASh Series Core Completion Fund                        | 811-06740         |
| Western Asset Total Return Unconstrained Fund                          | 811-06110         |
| Franklin Templeton SMACS: Series E                                     | 811-06243         |
| Franklin High Yield Corporate ETF                                      | 811-23124         |
| ClearBridge International Growth Fund                                  | 811-22338         |
| Franklin Mutual Shares Fund                                            | 811-05387         |
| Franklin Minnesota Tax-Free Income Fund                                | 811-04149         |
| Franklin Mutual Beacon Fund                                            | 811-05387         |
| Franklin Multi-Asset Variable Moderate Growth Fund                     | 811-21128         |
| Western Asset Short-Term Bond Fund                                     | 811-04254         |
| Templeton Global Dynamic Income Fund                                   | 811-08226         |
| Franklin Real Estate Securities Fund                                   | 811-08034         |
| Franklin Multi-Asset Defensive Growth Fund                             | 811-06444         |
| Franklin High Income Fund                                              | 811-01608         |
| ClearBridge Variable Growth Portfolio                                  | 811-21128         |
| Franklin DynaTech VIP Fund                                             | 811-05583         |
| Putnam Dynamic Asset Allocation Growth Fund                            | 811-07121         |
| Franklin Small Cap Value Fund                                          | 811-05878         |
| BrandywineGLOBAL - Corporate Credit Fund                               | 811-06444         |
| Templeton Foreign Fund                                                 | 811-02781         |
| ClearBridge Select Fund                                                | 811-06444         |
| Franklin Rising Dividends Fund                                         | 811-04894         |
| Franklin LifeSmart 2020 Retirement Target Fund                         | 811-07851         |
| Franklin Maryland Tax-Free Income Fund                                 | 811-04149         |
| Putnam Dynamic Asset Allocation Conservative Fund                      | 811-07121         |
| Franklin Multi-Asset Variable Conservative Growth Fund                 | 811-21128         |
| Franklin Templeton SMACS: Series I                                     | 811-06243         |
| Putnam VT Global Asset Allocation Fund                                 | 811-05346         |
| Western Asset Core Plus VIT Portfolio                                  | 811-06310         |
| Franklin Missouri Tax-Free Income Fund                                 | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                                     | 811-06444         |
| Franklin Mutual Global Discovery Fund                                  | 811-05387         |
| Franklin Mutual International Value Fund                               | 811-05387         |
| Franklin Emerging Market Debt Opportunities Fund                       | 811-10157         |
| Franklin International Growth Fund                                     | 811-10157         |
| ClearBridge Dividend Strategy Fund                                     | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                                 | 811-04149         |
| Templeton Emerging Markets Small Cap Fund                              | 811-08226         |
| George Putnam Balanced Fund                                            | 811-00058         |
| Franklin Strategic Income VIP Fund                                     | 811-05583         |
| Putnam Large Cap Value Fund                                            | 811-02742         |
| Putnam Sustainable Future Fund                                         | 811-07237         |
| Putnam Focused International Equity Fund                               | 811-01403         |
| Putnam Short Duration Bond Fund                                        | 811-07513         |
| Putnam Mortgage Opportunities Fund                                     | 811-07513         |
| Putnam VT Diversified Income Fund                                      | 811-05346         |
| Franklin Small Cap Value VIP Fund                                      | 811-05583         |
| Putnam VT Emerging Markets Equity Fund                                 | 811-05346         |
| Templeton Growth Fund, Inc.                                            | 811-04892         |
| Templeton Growth VIP Fund                                              | 811-05583         |
| Western Asset Inflation Indexed Plus Bond Fund                         | 811-06110         |
| Putnam High Yield Fund                                                 | 811-04616         |
| Franklin California Tax-Free Income Fund                               | 811-02790         |
| Franklin Mutual Shares VIP Fund                                        | 811-05583         |
| Putnam Emerging Markets Equity Fund                                    | 811-07513         |
| Western Asset Long Credit VIT                                          | 811-06310         |
| ClearBridge Variable Large Cap Growth Portfolio                        | 811-21128         |
| Franklin LifeSmart 2035 Retirement Target Fund                         | 811-07851         |
| Western Asset Municipal High Income Fund                               | 811-04254         |
| Franklin Floating Rate Daily Access Fund                               | 811-04986         |
| Franklin North Carolina Tax-Free Income Fund                           | 811-04149         |
| Western Asset Short Duration High Income Fund                          | 811-04254         |
| Franklin Arizona Tax-Free Income Fund                                  | 811-04149         |
| ClearBridge Value Fund                                                 | 811-22338         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                 | 811-22338         |
| Western Asset Mortgage Total Return Fund                               | 811-04254         |
| ClearBridge Mid Cap Growth Fund                                        | 811-06444         |
| Putnam Small Cap Value Fund                                            | 811-07237         |
| ClearBridge Variable Large Cap Value Portfolio                         | 811-21128         |
| Franklin LifeSmart 2060 Retirement Target Fund                         | 811-07851         |
| Putnam Ultra Short Duration Income Fund                                | 811-07513         |
| Franklin Templeton Moderately Aggressive Model Portfolio               | 811-21128         |
| Franklin DynaTech Fund                                                 | 811-00537         |
| Putnam VT Global Health Care Fund                                      | 811-05346         |
| Franklin Multi-Asset Moderate Growth Fund                              | 811-06444         |
| Franklin Natural Resources Fund                                        | 811-06243         |
| Franklin Small Cap Growth Fund                                         | 811-06243         |
| ClearBridge Mid Cap Fund                                               | 811-06444         |
| Franklin Growth Allocation Fund                                        | 811-07851         |
| Putnam Short-Term Municipal Income Fund                                | 811-07513         |
| Franklin Long Duration Credit Fund                                     | 811-04986         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 3 - Western Asset SMASh Series M Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Western Asset SMASh Series M Fund

- **b. Series identification number, if any:** S000014681

- **c. LEI:** 549300IQMLUT4BTBM734

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 1

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class   | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | SMASh Series M Fund     | C000040179                                | LMSMX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 22d-1 (17 CFR 270.22d-1)

- Rule 32a-4 (17 CFR 270.32a-4)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company Limited

- **ii. SEC file number:** 801-21068

- **iii. CRD number:** 000110427

- **iv. LEI, if any:** 549300IVCLHPHPOYT226

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-08162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,459.88

**Brokers Record: 2**

- **i. Full name of broker:** GOLDMAN SACHS & CO. LLC

- **ii. SEC file number:** 008-00129

- **iii. CRD number:** 000000361

- **iv. LEI, if any:** FOR8UP27PHTHYVLBNG30

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $14,957.58

**Brokers Record: 3**

- **i. Full name of broker:** J.P. MORGAN SECURITIES LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,908.01

**Brokers Record: 4**

- **i. Full name of broker:** CITIGROUP GLOBAL MARKETS INC.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,335.32

**Brokers Record: 5**

- **i. Full name of broker:** DEUTSCHE BANK SECURITIES INC.

- **ii. SEC file number:** 008-17822

- **iii. CRD number:** 000002525

- **iv. LEI, if any:** 9J6MBOOO7BECTDTUZW19

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,702.32

**Brokers Record: 6**

- **i. Full name of broker:** RBC CAPITAL MARKETS, LLC

- **ii. SEC file number:** 008-45411

- **iii. CRD number:** 000031194

- **iv. LEI, if any:** 549300LCO2FLSSVFFR64

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,648.45

**Brokers Record: 7**

- **i. Full name of broker:** R.J. O'BRIEN SECURITIES, LLC

- **ii. SEC file number:** 008-67587

- **iii. CRD number:** 000143624

- **iv. LEI, if any:** 549300Y3W4512F4J2D08

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $4,222.93

**Brokers Record: 8**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,463.46

**Brokers Record: 9**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $10,393.84

**Brokers Record: 10**

- **i. Full name of broker:** BNP Paribas Securities Corp.

- **ii. SEC file number:** 008-32682

- **iii. CRD number:** 000015794

- **iv. LEI, if any:** RCNB6OTYUAMMP879YW96

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,411.62

**Aggregate Commission:** $61,921.89

**Item C.17.a. Principal transaction counterparties.**

| Name                          | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| GOLDMAN SACHS & CO. LLC       | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $6,832,385,060.12         |
| RBC CAPITAL MARKETS, LLC      | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $20,592,467.91            |
| MORGAN STANLEY & CO. LLC      | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $2,386,612,521.84         |
| J.P. Morgan Securities LLC    | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $1,281,916,134.11         |
| CitiGroup Global Markets Inc. | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $773,739,336.03           |
| MIZUHO SECURITIES USA, INC.   | 008-37710         |    000019647 | 7TK5RJIZDFROZCA6XF66 | NY      | US        | $45,070,941.25            |
| BNP PARIBAS SECURITIES CORP.  | 008-32682         |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $253,351,486.54           |
| BMO CAPITAL MARKETS CORP.     | 008-34344         |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $71,255,273.21            |
| BOFA SECURITIES, INC.         | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $72,562,139.92            |
| WELLS FARGO SECURITIES, LLC   | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $106,114,351.33           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $11,897,589,587.37

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $434,922,137.78

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 2 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 3 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 4 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 5 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 6 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 7 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 8 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 9 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 10 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 11 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 12 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 13 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 14 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 15 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 16 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 17 Name of institution:** CITIBANK, N.A.

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                           | SEC File number   |
|:---|:---|
| Franklin Small-Mid Cap Growth VIP Fund                                 | 811-05583         |
| Franklin Global Allocation Fund                                        | 811-07851         |
| Putnam VT Core Equity Fund                                             | 811-05346         |
| Franklin U.S. Government Securities Fund                               | 811-00537         |
| Franklin LifeSmart 2020 Retirement Target Fund                         | 811-07851         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)             | 811-07513         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                 | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                          | 811-06444         |
| Putnam International Small Cap Fund                                    | 811-07237         |
| Western Asset Income Fund                                              | 811-04254         |
| Templeton Emerging Markets Small Cap Fund                              | 811-08226         |
| Putnam Small Cap Value Fund                                            | 811-07237         |
| Franklin Managed Income fund                                           | 811-04986         |
| Franklin Floating Rate Daily Access Fund                               | 811-04986         |
| Putnam Dynamic Asset Allocation Conservative Fund                      | 811-07121         |
| Franklin Alternative Strategies Fund                                   | 811-22641         |
| ClearBridge Mid Cap Growth Fund                                        | 811-06444         |
| ClearBridge Variable Large Cap Value Portfolio                         | 811-21128         |
| Putnam VT International Value Fund                                     | 811-05346         |
| Franklin Small Cap Growth Fund                                         | 811-06243         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund                     | 811-22338         |
| Franklin Templeton Aggressive Model Portfolio                          | 811-21128         |
| Franklin Mutual International Value Fund                               | 811-05387         |
| Franklin Low Duration U.S. Government Securities Fund                  | 811-04986         |
| Putnam U.S. Research Fund                                              | 811-07237         |
| Western Asset Intermediate Maturity New York Municipals Fund           | 811-04254         |
| Putnam High Yield Fund                                                 | 811-04616         |
| ClearBridge Variable Large Cap Growth Portfolio                        | 811-21128         |
| Western Asset SMASh Series Core Completion Fund                        | 811-06740         |
| Western Asset Intermediate Maturity California Municipals Fund         | 811-04254         |
| Putnam VT Large Cap Value Fund                                         | 811-05346         |
| Franklin LifeSmart 2050 Retirement Target Fund                         | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                           | 811-04149         |
| Franklin S&P 500 Index Fund                                            | 811-06444         |
| Franklin LifeSmart 2030 Retirement Target Fund                         | 811-07851         |
| Franklin BSP CLO ETF                                                   | 811-23124         |
| ClearBridge SMASh Series EM Fund                                       | 811-22338         |
| Templeton Global Bond Fund                                             | 811-04706         |
| Franklin LifeSmart 2035 Retirement Target Fund                         | 811-07851         |
| Putnam VT Emerging Markets Equity Fund                                 | 811-05346         |
| ClearBridge Appreciation Fund                                          | 811-06444         |
| Western Asset Oregon Municipals Fund                                   | 811-04254         |
| Franklin Pennsylvania Tax-Free Income Fund                             | 811-04149         |
| ClearBridge Tactical Dividend Income Fund                              | 811-06444         |
| Putnam International Value Fund                                        | 811-07513         |
| Templeton Global Bond VIP Fund                                         | 811-05583         |
| Western Asset SMASh Series TF Fund                                     | 811-06740         |
| Western Asset Mortgage Total Return Fund                               | 811-04254         |
| Franklin International Equity Fund                                     | 811-22338         |
| Franklin Templeton Moderate Model Portfolio                            | 811-21128         |
| Templeton Global Total Return Fund                                     | 811-04706         |
| Putnam Large Cap Growth Fund                                           | 811-07237         |
| Foreign Smaller Companies Series                                       | 811-06135         |
| Putnam VT Sustainable Leaders Fund                                     | 811-05346         |
| Franklin Minnesota Tax-Free Income Fund                                | 811-04149         |
| Putnam VT Large Cap Growth Fund                                        | 811-05346         |
| Franklin Mutual Small-Mid Cap Value Fund                               | 811-05878         |
| Franklin Oregon Tax-Free Income Fund                                   | 811-04149         |
| Putnam International Equity Fund                                       | 811-06190         |
| Putnam Sustainable Future Fund                                         | 811-07237         |
| Templeton Foreign VIP Fund                                             | 811-05583         |
| Franklin LifeSmart 2025 Retirement Target Fund                         | 811-07851         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                | 811-04149         |
| ClearBridge Small Cap Fund                                             | 811-22338         |
| Putnam VT Diversified Income Fund                                      | 811-05346         |
| Franklin Large Cap Growth VIP Fund                                     | 811-05583         |
| Franklin Templeton SMACS: Series EM                                    | 811-08226         |
| Western Asset Total Return Unconstrained Fund                          | 811-06110         |
| Franklin Income Fund                                                   | 811-00537         |
| ClearBridge Select Fund                                                | 811-06444         |
| Franklin Conservative Allocation Fund                                  | 811-07851         |
| Western Asset Corporate Bond Fund                                      | 811-04254         |
| Western Asset High Yield Fund                                          | 811-06110         |
| Franklin Long Duration Credit Fund                                     | 811-04986         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund) | 811-07513         |
| Putnam VT Sustainable Future Fund                                      | 811-05346         |
| Franklin Missouri Tax-Free Income Fund                                 | 811-04149         |
| Putnam Focused International Equity Fund                               | 811-01403         |
| ClearBridge Global Infrastructure Income Fund                          | 811-22338         |
| Franklin Mutual Shares VIP Fund                                        | 811-05583         |
| Putnam Mortgage Opportunities Fund                                     | 811-07513         |
| Western Asset Variable Global High Yield Bond Portfolio                | 811-06310         |
| Franklin Mutual Global Discovery VIP Fund                              | 811-05583         |
| ClearBridge Large Cap Value Fund                                       | 811-06444         |
| Franklin Connecticut Tax-Free Income Fund                              | 811-04149         |
| Western Asset Core Bond Fund                                           | 811-06110         |
| Franklin Georgia Tax-Free Income Fund                                  | 811-04149         |
| Putnam Short Duration Bond Fund                                        | 811-07513         |
| Putnam VT Small Cap Growth Fund                                        | 811-05346         |
| Putnam Ultra Short Duration Income Fund                                | 811-07513         |
| Putnam Large Cap Value Fund                                            | 811-02742         |
| Putnam Dynamic Asset Allocation Balanced Fund                          | 811-07121         |
| Franklin Templeton Conservative Model Portfolio                        | 811-21128         |
| Franklin Equity Income Fund                                            | 811-04986         |
| Putnam VT High Yield Fund                                              | 811-05346         |
| Franklin Corefolio Allocation Fund                                     | 811-07851         |
| Franklin Templeton SMACS: Series H                                     | 811-06243         |
| BrandywineGLOBAL - Flexible Bond Fund                                  | 811-22338         |
| Franklin LifeSmart Retirement Income Fund                              | 811-07851         |
| Western Asset Long Credit VIT                                          | 811-06310         |
| Franklin LifeSmart 2045 Retirement Target Fund                         | 811-07851         |
| Franklin Core Plus Bond Fund                                           | 811-06243         |
| Putnam Sustainable Leaders Fund                                        | 811-06128         |
| Franklin Emerging Market Debt Opportunities Fund                       | 811-10157         |
| ClearBridge Variable Growth Portfolio                                  | 811-21128         |
| Putnam Focused Equity Fund                                             | 811-07513         |
| Putnam VT International Equity Fund                                    | 811-05346         |
| Franklin Multi-Asset Variable Conservative Growth Fund                 | 811-21128         |
| Putnam Short-Term Municipal Income Fund                                | 811-07513         |
| Franklin Growth Opportunities Fund                                     | 811-06243         |
| Franklin Small Cap Value Fund                                          | 811-05878         |
| Western Asset SMASh Series C Fund                                      | 811-06740         |
| Franklin California Intermediate-Term Tax-Free Income Fund             | 811-04356         |
| Western Asset Short Duration High Income Fund                          | 811-04254         |
| Franklin Templeton SMACS: Series I                                     | 811-06243         |
| ClearBridge Mid Cap Fund                                               | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                         | 811-07851         |
| Franklin High Yield Corporate ETF                                      | 811-23124         |
| Western Asset Intermediate-Term Municipals Fund                        | 811-04254         |
| Putnam VT Research Fund                                                | 811-05346         |
| Franklin Mutual Quest Fund                                             | 811-05387         |
| Franklin Senior Loan ETF                                               | 811-23124         |
| Franklin Multi-Asset Moderate Growth Fund                              | 811-06444         |
| Franklin Utilities Fund                                                | 811-00537         |
| Putnam Convertible Securities Fund                                     | 811-02280         |
| Franklin New York Intermediate-Term Tax-Free Income Fund               | 811-04787         |
| Franklin Templeton SMACS: Series CH                                    | 811-06243         |
| BrandywineGLOBAL - Corporate Credit Fund                               | 811-06444         |
| Franklin Mutual Global Discovery Fund                                  | 811-05387         |
| ClearBridge Emerging Markets Fund                                      | 811-22338         |
| Franklin Templeton Moderately Aggressive Model Portfolio               | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                            | 811-04149         |
| Franklin U.S. Government Securities VIP Fund                           | 811-05583         |
| Franklin Global Real Estate VIP Fund                                   | 811-05583         |
| Western Asset Core Plus VIT Portfolio                                  | 811-06310         |
| Putnam VT Focused International Equity Fund                            | 811-05346         |
| Templeton Foreign Fund                                                 | 811-02781         |
| International Equity Series                                            | 811-06135         |
| Franklin Natural Resources Fund                                        | 811-06243         |
| Western Asset California Municipals Fund                               | 811-04254         |
| Templeton Global Dynamic Income Fund                                   | 811-08226         |
| ClearBridge Growth Fund                                                | 811-06444         |
| Putnam VT Small Cap Value Fund                                         | 811-05346         |
| Templeton Global Smaller Companies Fund                                | 811-03143         |
| Franklin Louisiana Tax-Free Income Fund                                | 811-04149         |
| Franklin Alabama Tax-Free Income Fund                                  | 811-04149         |
| Franklin California Tax-Free Income Fund                               | 811-02790         |
| Western Asset Managed Municipals Fund                                  | 811-04254         |
| Franklin Moderate Allocation Fund                                      | 811-07851         |
| Franklin Allocation VIP Fund                                           | 811-05583         |
| ClearBridge Variable Small Cap Growth Portfolio                        | 811-21128         |
| ClearBridge International Growth Fund                                  | 811-22338         |
| ClearBridge Large Cap Growth Fund                                      | 811-06444         |
| Franklin Multi-Asset Variable Moderate Growth Fund                     | 811-21128         |
| Franklin International Growth Fund                                     | 811-10157         |
| Putnam Global Income Trust                                             | 811-04524         |
| ClearBridge Sustainability Leaders Fund                                | 811-06444         |
| Western Asset Massachusetts Municipals Fund                            | 811-04254         |
| Templeton Developing Markets Trust                                     | 811-06378         |
| Franklin U.S. Small Cap Equity Fund                                    | 811-22338         |
| Putnam Multi-Asset Income Fund                                         | 811-07121         |
| Franklin LifeSmart 2060 Retirement Target Fund                         | 811-07851         |
| Western Asset SMASh Series Core Plus Completion Fund                   | 811-06740         |
| Franklin Small-Mid Cap Growth Fund                                     | 811-06243         |
| Franklin Templeton Moderately Conservative Model Portfolio             | 811-21128         |
| Franklin Ohio Tax-Free Income Fund                                     | 811-04149         |
| Franklin Global Equity Fund                                            | 811-06444         |
| George Putnam Balanced Fund                                            | 811-00058         |
| Franklin Convertible Securities Fund                                   | 811-04986         |
| Franklin Total Return Fund                                             | 811-04986         |
| Western Asset Intermediate Bond Fund                                   | 811-06110         |
| Franklin New York Tax-Free Income Fund                                 | 811-03479         |
| Franklin Floating Rate Master Series                                   | 811-09869         |
| Templeton Sustainable Emerging Markets Bond Fund                       | 811-04706         |
| Putnam Mortgage Securities Fund                                        | 811-03897         |
| Putnam VT Mortgage Securities Fund                                     | 811-05346         |
| Franklin Templeton SMACS: Series CP                                    | 811-06243         |
| Putnam Small Cap Growth Fund                                           | 811-07513         |
| Western Asset Ultra-Short Income Fund                                  | 811-04254         |
| Franklin Rising Dividends Fund                                         | 811-04894         |
| Putnam Global Technology Fund                                          | 811-07513         |
| ClearBridge Variable Dividend Strategy Portfolio                       | 811-21128         |
| BrandywineGLOBAL - Global Opportunities Bond Fund                      | 811-22338         |
| Franklin LifeSmart 2055 Retirement Target Fund                         | 811-07851         |
| Franklin DynaTech VIP Fund                                             | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                               | 811-04149         |
| Templeton Developing Markets VIP Fund                                  | 811-05583         |
| Franklin High Yield Tax-Free Income Fund                               | 811-04149         |
| ClearBridge Value Fund                                                 | 811-22338         |
| Putnam Emerging Markets Equity Fund                                    | 811-07513         |
| Western Asset Core Plus Bond Fund                                      | 811-06110         |
| Franklin Maryland Tax-Free Income Fund                                 | 811-04149         |
| ClearBridge Variable Appreciation Portfolio                            | 811-21128         |
| Franklin Gold and Precious Metals Fund                                 | 811-01700         |
| Franklin Strategic Income VIP Fund                                     | 811-05583         |
| Franklin High Income Fund                                              | 811-01608         |
| Western Asset Bond ETF                                                 | 811-23124         |
| Putnam Diversified Income Trust                                        | 811-05635         |
| Franklin DynaTech Fund                                                 | 811-00537         |
| Western Asset New York Municipals Fund                                 | 811-04254         |
| Putnam Income Fund                                                     | 811-00653         |
| Putnam VT George Putnam Balanced Fund                                  | 811-05346         |
| Templeton Growth Fund, Inc.                                            | 811-04892         |
| Western Asset Short-Term Bond Fund                                     | 811-04254         |
| Western Asset Pennsylvania Municipals Fund                             | 811-04254         |
| Western Asset New Jersey Municipals Fund                               | 811-04254         |
| Franklin Rising Dividends VIP Fund                                     | 811-05583         |
| Franklin California High Yield Municipal Fund                          | 811-06481         |
| Franklin Biotechnology Discovery Fund                                  | 811-06243         |
| Franklin Low Duration Total Return Fund                                | 811-04986         |
| Franklin Multi-Asset Growth Fund                                       | 811-06444         |
| Franklin Small Cap Value VIP Fund                                      | 811-05583         |
| Templeton World Fund                                                   | 811-02781         |
| Franklin Federal Limited-Term Tax-Free Income Fund                     | 811-04149         |
| ClearBridge International Value Fund                                   | 811-06444         |
| Putnam Dynamic Asset Allocation Equity Fund                            | 811-07513         |
| ClearBridge Small Cap Growth Fund                                      | 811-06444         |
| Franklin Mutual Shares Fund                                            | 811-05387         |
| Franklin Virginia Tax-Free Income Fund                                 | 811-04149         |
| Franklin Growth Fund                                                   | 811-00537         |
| Franklin Growth and Income VIP Fund                                    | 811-05583         |
| Franklin Mutual U.S. Mid Cap Value Fund                                | 811-05878         |
| Franklin Arizona Tax-Free Income Fund                                  | 811-04149         |
| Putnam VT Income Fund                                                  | 811-05346         |
| Franklin Multi-Asset Variable Growth Fund                              | 811-21128         |
| Franklin Multi-Asset Defensive Growth Fund                             | 811-06444         |
| Franklin U.S. Large Cap Equity Fund                                    | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                         | 811-06110         |
| Templeton Growth VIP Fund                                              | 811-05583         |
| Putnam Ultra Short MAC Series                                          | 811-07513         |
| Putnam Floating Rate Income Fund                                       | 811-07513         |
| Franklin Templeton SMACS: Series E                                     | 811-06243         |
| Western Asset Short Duration Municipal Income Fund                     | 811-04254         |
| Putnam VT Global Asset Allocation Fund                                 | 811-05346         |
| Putnam Global Health Care Fund                                         | 811-03386         |
| Franklin Templeton SMACS: Series C                                     | 811-06243         |
| Western Asset Municipal High Income Fund                               | 811-04254         |
| Putnam Dynamic Asset Allocation Growth Fund                            | 811-07121         |
| Putnam VT Global Health Care Fund                                      | 811-05346         |
| Franklin Income VIP Fund                                               | 811-05583         |
| Franklin Growth Allocation Fund                                        | 811-07851         |
| Franklin Real Estate Securities Fund                                   | 811-08034         |
| ClearBridge Dividend Strategy Fund                                     | 811-06444         |
| BrandywineGLOBAL - High Yield Fund                                     | 811-06444         |
| Franklin Federal Tax-Free Income Fund                                  | 811-03395         |
| Franklin Michigan Tax-Free Income Fund                                 | 811-04149         |
| Franklin Colorado Tax-Free Income Fund                                 | 811-04149         |
| ClearBridge Variable Mid Cap Portfolio                                 | 811-21128         |
| Franklin Mutual Beacon Fund                                            | 811-05387         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

### Management Investment Record: 4 - Western Asset SMASh Series Core Completion Fund

**Item C.1. Background information.**

- **a. Full Name of the Fund:** Western Asset SMASh Series Core Completion Fund

- **b. Series identification number, if any:** S000069099

- **c. LEI:** 549300HUUQMD5AMJIL20

- **d. Is this the first filing on this form by the Fund?:** No

**Item C.2. Classes of open-end management investment companies.**

- **a. How many Classes of shares of the Fund (if any) are authorized?:** 1

- **b. How many new Classes of shares of the Fund were added during the reporting period?:** 0

- **c. How many Classes of shares of the Fund were terminated during the reporting period?:** 0

**d. For each Class with shares outstanding, provide the information requested below:**

|   Shares Outstanding Record | i. Full name of Class             | ii. Class identification number, if any   | iii. Ticker symbol, if any   |
|---:|:---|:---|:---|
|                           1 | SMASh SERIES CORE COMPLETION FUND | C000220869                                | WAADX                        |

**Item C.3. Type of fund.**

- [ ] Exchange-Traded Fund or Exchange-Traded Managed Fund or offers a Class that itself is an Exchange-Traded Fund or Exchange-Traded Managed Fund

-   [ ] i. Exchange-Traded Fund

-   [ ] ii. Exchange-Traded Managed Fund

- [ ] b. Index Fund

- [ ] c. Seeks to achieve performance results that are a multiple of a benchmark, the inverse of a benchmark, or a multiple of the inverse of a benchmark

- [ ] d. Interval Fund

- [ ] e. Fund of Funds

- [ ] f. Master-Feeder Fund

- [ ] g. Money Market Fund

- [ ] h. Target Date Fund

-   [ ] i. Underlying fund to a variable annuity or variable life insurance contract

- [x] N/A

**Item C.4 - Does the Fund seek to operate as a 'non-diversified company'?** No

**Item C.5 - Does the fund invest in a controlled foreign corporation?** No

**Item C.6. Securities lending.**

- **a. Is the Fund authorized to engage in securities lending transactions?** No

- **f. Provide the monthly average of the value of portfolio securities on loan during the reporting period:** —

- **g. Provide the net income from securities lending activities:** —

**Item C.7. Reliance on certain statutory exemption and rules.**

Did the Fund rely on the following rules?

- Rule 32a-4 (17 CFR 270.32a-4)

- Rule 22d-1 (17 CFR 270.22d-1)

**Item C.8. Expense limitations.**

- **a. Did the Fund have an expense limitation arrangement?** Yes

- **b. Were any expenses reduced or waived?** Yes

- **c. Are the fees waived subject to recoupment?** No

- **d. Were any expenses previously waived recouped during the period?** No

**Item C.9. Investment advisers.**

**Investment Advisers Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. SEC file number:** 801-66785

- **iii. CRD number:** 000140432

- **iv. LEI, if any:** 549300POFVK5JLWUL193

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Was the investment adviser hired during the reporting period?:** No

**Item C.9.b. Sub-advisers.**

**Sub-adviser Record: 1**

- **i. Full name:** Western Asset Management Company, LLC

- **ii. SEC file number:** 801-08162

- **iii. CRD number:** 000110441

- **iv. LEI, if any:** 549300C5A561UXUICN46

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Sub-adviser Record: 2**

- **i. Full name:** Western Asset Management Company Limited

- **ii. SEC file number:** 801-21068

- **iii. CRD number:** 000110427

- **iv. LEI, if any:** 549300IVCLHPHPOYT226

- **v. Is the sub-adviser an affiliated person?:** Yes

- **vi. Foreign country, if applicable:** GB

- **vii. Was the sub-adviser hired during the reporting period?:** No

**Item C.10. Transfer agents.**

**Transfer Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. SEC file number:** 084-01036

- **iii. LEI, if any:** N/A

- **iv. State, if applicable:** CA

- **v. Foreign country, if applicable:** US

- **vi. Is the transfer agent an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vii. Is the transfer agent a sub-transfer agent?:** No

- **b. Has a transfer agent been hired or terminated during the reporting period?** No

**Item C.11. Pricing services.**

**Pricing Services Record: 1**

- **i. Full name:** Bank of America Merill Lynch PriceServe

- **ii. LEI, if any, or provide and describe other identifying number:** N/A

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 2**

- **i. Full name:** S&P Global Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** Y6X4K52KMJMZE7I7MY94

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 3**

- **i. Full name:** PricingDirect Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300WIC0TOJ7N7GD54

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 4**

- **i. Full name:** Bloomberg L.P.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300B56MD0ZC402L06

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 5**

- **i. Full name:** LSEG US FIN CORP.

- **ii. LEI, if any, or provide and describe other identifying number:** 2138007FV67QQ13CGJ43

- **iii. State, if applicable:** DE

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

**Pricing Services Record: 6**

- **i. Full name:** ICE Data Pricing & Reference Data, LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 5493000NQ9LYLDBCTL34

- **iii. State, if applicable:** MA

- **iv. Foreign country, if applicable:** US

- **v. Is the pricing service an affiliated person of the Fund or its investment adviser(s)?:** No

- **b. Was a pricing service hired or terminated during the reporting period?** No

**Item C.12. Custodians.**

**a. Provide the following information about each person that provided custodial services to the Fund during the reporting period:**

**Custodians Record: 1**

- **i. Full name:** The Bank of New York Mellon

- **ii. LEI, if any:** HPFHU0OQ28E4N0NFVK49

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the custodian an affiliated person of the Fund or its investment adviser(s)?:** No

- **vi. Is the custodian a sub-custodian?:** No

- **vii. With respect to the custodian, check below to indicate the type of custody:** Bank - section 17(f)(1) (15 U.S.C. 80a-17(f)(1))

- **b. Was a custodian hired or terminated during the reporting period?** No

**Item C.13 - Shareholder Servicing Agents**

**Shareholder Servicing Agents Record: 1**

- **i. Full name:** Franklin Templeton Investor Services, LLC

- **ii. LEI, if any:** N/A

- **iii. State, if applicable:** CA

- **iv. Foreign country, if applicable:** US

- **v. Is the shareholder servicing agent an affiliated person?:** Yes

- **vi. Is the shareholder servicing agent a sub-shareholder servicing agent?:** No

- **b. Has a shareholder servicing agent been hired or terminated during the reporting period?** No

**Item C.14. Administrators.**

**a. Provide the following information about each administrator of the Fund:**

**Administrators Record: 1**

- **i. Full name:** FRANKLIN TEMPLETON FUND ADVISER, LLC

- **ii. LEI, if any, or other identifying number:** 549300POFVK5JLWUL193

- **iii. State, if applicable:** NY

- **iv. Foreign country, if applicable:** US

- **v. Is the administrator an affiliated person of the Fund or its investment adviser(s)?:** Yes

- **vi. Is the administrator a sub-administrator?:** No

- **b. Has a third-party administrator been hired or terminated during the reporting period?** No

**Item C.15 - Affiliated broker-dealers.**

**Broker Dealers Record: 1**

- **a. Full name:** ROYCE FUND SERVICES, LLC

- **b. SEC file number:** 008-28663

- **c. CRD number:** 000014470

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 2**

- **a. Full name:** Franklin Distributors, LLC

- **b. SEC file number:** 008-53089

- **c. CRD number:** 000109064

- **d. LEI, if any:** N/A

- **e. State, if applicable:** CA

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Broker Dealers Record: 3**

- **a. Full name:** Clarion Partners Securities, LLC

- **b. SEC file number:** 008-69204

- **c. CRD number:** 000166384

- **d. LEI, if any:** N/A

- **e. State, if applicable:** NY

- **f. Foreign country, if applicable:** US

- **g. Total commissions paid to the affiliated broker-dealer for the reporting period::** $0.00

**Item C.16. Brokers.**

**a. For each of the ten brokers that received the largest dollar amount of brokerage commissions...**

**Brokers Record: 1**

- **i. Full name of broker:** J.P. MORGAN SECURITIES LLC

- **ii. SEC file number:** 008-35008

- **iii. CRD number:** 000000079

- **iv. LEI, if any:** ZBUT11V806EZRVTWT807

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,811.14

**Brokers Record: 2**

- **i. Full name of broker:** CitiGroup Global Markets Inc.

- **ii. SEC file number:** 008-08177

- **iii. CRD number:** 000007059

- **iv. LEI, if any:** MBNUM2BPBDO7JBLYG310

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $5,674.99

**Brokers Record: 3**

- **i. Full name of broker:** MORGAN STANLEY & CO. LLC

- **ii. SEC file number:** 008-15869

- **iii. CRD number:** 000008209

- **iv. LEI, if any:** 9R7GPTSO7KV3UQJZQ078

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,410.23

**Brokers Record: 4**

- **i. Full name of broker:** BOFA SECURITIES, INC.

- **ii. SEC file number:** 008-69787

- **iii. CRD number:** 000283942

- **iv. LEI, if any:** 549300HN4UKV1E2R3U73

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $18,266.04

**Brokers Record: 5**

- **i. Full name of broker:** WELLS FARGO SECURITIES, LLC

- **ii. SEC file number:** 008-65876

- **iii. CRD number:** 000126292

- **iv. LEI, if any:** VYVVCKR63DVZZN70PB21

- **v. State, if applicable:** NC

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $11,080.50

**Brokers Record: 6**

- **i. Full name of broker:** R.J. O'Brien Securities, LLC

- **ii. SEC file number:** 008-67587

- **iii. CRD number:** 000143624

- **iv. LEI, if any:** 549300BSZNPQJNYIAD03

- **v. State, if applicable:** IL

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $91,967.39

**Brokers Record: 7**

- **i. Full name of broker:** DEUTSCHE BANK SECURITIES INC.

- **ii. SEC file number:** 008-17822

- **iii. CRD number:** 000002525

- **iv. LEI, if any:** 9J6MBOOO7BECTDTUZW19

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,288.73

**Brokers Record: 8**

- **i. Full name of broker:** JEFFERIES LLC

- **ii. SEC file number:** 008-15074

- **iii. CRD number:** 000002347

- **iv. LEI, if any:** 58PU97L1C0WSRCWADL48

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $31,020.95

**Brokers Record: 9**

- **i. Full name of broker:** BARCLAYS CAPITAL, INC.

- **ii. SEC file number:** 008-41342

- **iii. CRD number:** 000019714

- **iv. LEI, if any:** AC28XWWI3WIBK2824319

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,785.30

**Brokers Record: 10**

- **i. Full name of broker:** BNP Paribas Securities Corp.

- **ii. SEC file number:** 008-32682

- **iii. CRD number:** 000015794

- **iv. LEI, if any:** RCNB6OTYUAMMP879YW96

- **v. State, if applicable:** NY

- **vi. Foreign country, if applicable:** US

- **vii. Gross commissions paid by the Fund for the reporting period:** $3,078.82

**Aggregate Commission:** $180,535.97

**Item C.17.a. Principal transaction counterparties.**

| Name                           | SEC file number   |   CRD number | LEI                  | State   | Country   | Total Purchase/Sale ($)   |
|:---|:---|---:|:---|:---|:---|:---|
| MORGAN STANLEY & CO. LLC       | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $755,157,542.99           |
| BOFA SECURITIES, INC.          | 008-69787         |    000283942 | 549300HN4UKV1E2R3U73 | NY      | US        | $28,127,912.36            |
| MIZUHO SECURITIES USA, INC.    | 008-37710         |    000019647 | 7TK5RJIZDFROZCA6XF66 | NY      | US        | $38,903,499.80            |
| BMO CAPITAL MARKETS CORP.      | 008-34344         |    000016686 | RUC0QBLBRPRCU4W1NE59 | NY      | US        | $16,487,969.01            |
| BNP PARIBAS SECURITIES CORP.   | 008-32682         |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $119,963,768.96           |
| DEUTSCHE BANK SECURITIES, INC. | 008-17822         |    000002525 | 9J6MBOOO7BECTDTUZW19 | NY      | US        | $6,451,274.19             |
| WELLS FARGO SECURITIES, LLC    | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $26,685,854.09            |
| CitiGroup Global Markets Inc.  | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $73,292,153.58            |
| Goldman Sachs & Co. LLC        | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $711,401,777.60           |
| J.P. Morgan Securities LLC     | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $823,132,865.36           |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $2,620,195,649.43

- **Item C.18 - Did the Fund pay commissions for 'brokerage and research services'?:** No

- **Item C.19.a - Fund's monthly average net assets:** $117,315,738.56

**Item C.20. Lines of credit, interfund lending and interfund borrowing.**

- **a. Does the Fund have available a line of credit?** Yes

**If yes, for each line of credit, provide the information requested below:**

**Line of Credit details Record: 1**

- **i. Is the line of credit a committed or uncommitted line of credit?** Committed

- **ii. What size is the line of credit?** $2,995,000,000.00

- **iii. With which institution(s) is the line of credit?**

  - **Line Institutions Record: 1 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 2 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 3 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 4 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 5 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 6 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 7 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 8 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 9 Name of institution:** UMB BANK, N.A.

  - **Line Institutions Record: 10 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 11 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 12 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 13 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 14 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 15 Name of institution:** THE TORONTO-DOMINION BANK

  - **Line Institutions Record: 16 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 17 Name of institution:** DEUTSCHE BANK AG

- **iv. Is the line of credit just for the Fund, or is it shared among multiple funds?** Shared

  - **1. If shared, list the names of other funds that may use the line of credit:**

| Name of fund                                                           | SEC File number   |
|:---|:---|
| Franklin Floating Rate Daily Access Fund                               | 811-04986         |
| Putnam Ultra Short Duration Income Fund                                | 811-07513         |
| Franklin Equity Income Fund                                            | 811-04986         |
| Franklin Mutual Small-Mid Cap Value Fund                               | 811-05878         |
| Franklin Minnesota Tax-Free Income Fund                                | 811-04149         |
| Western Asset High Yield Fund                                          | 811-06110         |
| Putnam Core Equity Fund (f/k/a Putnam Multi-Cap Core Fund)             | 811-07513         |
| Franklin Mutual Shares Fund                                            | 811-05387         |
| BrandywineGLOBAL - Corporate Credit Fund                               | 811-06444         |
| ClearBridge Large Cap Growth Fund                                      | 811-06444         |
| Franklin Mutual Beacon Fund                                            | 811-05387         |
| ClearBridge Growth Fund                                                | 811-06444         |
| Franklin Floating Rate Master Series                                   | 811-09869         |
| Templeton Global Bond VIP Fund                                         | 811-05583         |
| Putnam Large Cap Growth Fund                                           | 811-07237         |
| Franklin California Tax-Free Income Fund                               | 811-02790         |
| Putnam Emerging Markets Equity Fund                                    | 811-07513         |
| Franklin Templeton SMACS: Series E                                     | 811-06243         |
| Western Asset Mortgage Total Return Fund                               | 811-04254         |
| Putnam VT Global Health Care Fund                                      | 811-05346         |
| Putnam Global Income Trust                                             | 811-04524         |
| ClearBridge Select Fund                                                | 811-06444         |
| Franklin Mutual Quest Fund                                             | 811-05387         |
| Franklin New York Tax-Free Income Fund                                 | 811-03479         |
| Putnam Mortgage Opportunities Fund                                     | 811-07513         |
| Franklin Templeton Aggressive Model Portfolio                          | 811-21128         |
| Franklin Growth Allocation Fund                                        | 811-07851         |
| Templeton Foreign VIP Fund                                             | 811-05583         |
| Western Asset Income Fund                                              | 811-04254         |
| Western Asset California Municipals Fund                               | 811-04254         |
| Franklin Senior Loan ETF                                               | 811-23124         |
| Putnam Dynamic Asset Allocation Equity Fund                            | 811-07513         |
| Franklin Alabama Tax-Free Income Fund                                  | 811-04149         |
| Putnam Multi-Asset Income Fund                                         | 811-07121         |
| Putnam Convertible Securities Fund                                     | 811-02280         |
| Putnam Focused Equity Fund                                             | 811-07513         |
| Templeton Global Smaller Companies Fund                                | 811-03143         |
| Franklin Multi-Asset Variable Conservative Growth Fund                 | 811-21128         |
| Putnam VT Mortgage Securities Fund                                     | 811-05346         |
| Franklin Global Allocation Fund                                        | 811-07851         |
| Western Asset Intermediate Maturity New York Municipals Fund           | 811-04254         |
| Franklin Multi-Asset Conservative Growth Fund                          | 811-06444         |
| Franklin Arizona Tax-Free Income Fund                                  | 811-04149         |
| Franklin Mutual Shares VIP Fund                                        | 811-05583         |
| Franklin S&P 500 Index Fund                                            | 811-06444         |
| Franklin Low Duration U.S. Government Securities Fund                  | 811-04986         |
| Franklin Colorado Tax-Free Income Fund                                 | 811-04149         |
| Putnam VT Sustainable Leaders Fund                                     | 811-05346         |
| Franklin Multi-Asset Variable Growth Fund                              | 811-21128         |
| Putnam VT Income Fund                                                  | 811-05346         |
| Franklin New York Intermediate-Term Tax-Free Income Fund               | 811-04787         |
| Franklin U.S. Small Cap Equity Fund                                    | 811-22338         |
| Franklin Multi-Asset Growth Fund                                       | 811-06444         |
| Templeton Growth Fund, Inc.                                            | 811-04892         |
| ClearBridge Variable Mid Cap Portfolio                                 | 811-21128         |
| Franklin Templeton SMACS: Series H                                     | 811-06243         |
| Putnam U.S. Research Fund                                              | 811-07237         |
| ClearBridge International Growth Fund                                  | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund                     | 811-04149         |
| Franklin Templeton SMACS: Series CP                                    | 811-06243         |
| Franklin U.S. Government Securities VIP Fund                           | 811-05583         |
| Franklin Templeton SMACS: Series I                                     | 811-06243         |
| Franklin Small Cap Growth Fund                                         | 811-06243         |
| Franklin Low Duration Total Return Fund                                | 811-04986         |
| Western Asset SMASh Series C Fund                                      | 811-06740         |
| ClearBridge Mid Cap Fund                                               | 811-06444         |
| Western Asset Municipal High Income Fund                               | 811-04254         |
| Putnam VT International Value Fund                                     | 811-05346         |
| Franklin International Equity Fund                                     | 811-22338         |
| Western Asset Core Bond Fund                                           | 811-06110         |
| Franklin U.S. Large Cap Equity Fund                                    | 811-06444         |
| Franklin Long Duration Credit Fund                                     | 811-04986         |
| Franklin High Yield Corporate ETF                                      | 811-23124         |
| Franklin Convertible Securities Fund                                   | 811-04986         |
| ClearBridge Variable Appreciation Portfolio                            | 811-21128         |
| Franklin Core Plus Bond Fund                                           | 811-06243         |
| ClearBridge Large Cap Value Fund                                       | 811-06444         |
| Franklin LifeSmart 2025 Retirement Target Fund                         | 811-07851         |
| Franklin Income Fund                                                   | 811-00537         |
| Franklin Templeton SMACS: Series EM                                    | 811-08226         |
| Western Asset Variable Global High Yield Bond Portfolio                | 811-06310         |
| Templeton Foreign Fund                                                 | 811-02781         |
| Western Asset Core Plus Bond Fund                                      | 811-06110         |
| Franklin Templeton Moderately Conservative Model Portfolio             | 811-21128         |
| Franklin LifeSmart 2050 Retirement Target Fund                         | 811-07851         |
| Franklin International Growth Fund                                     | 811-10157         |
| Putnam Income Fund                                                     | 811-00653         |
| Franklin Templeton SMACS: Series CH                                    | 811-06243         |
| ClearBridge Sustainability Leaders Fund                                | 811-06444         |
| Franklin Biotechnology Discovery Fund                                  | 811-06243         |
| Franklin Mutual International Value Fund                               | 811-05387         |
| ClearBridge Appreciation Fund                                          | 811-06444         |
| Putnam Short Duration Bond Fund                                        | 811-07513         |
| Templeton Global Bond Fund                                             | 811-04706         |
| Western Asset Intermediate Maturity California Municipals Fund         | 811-04254         |
| Franklin Emerging Market Debt Opportunities Fund                       | 811-10157         |
| Western Asset SMASh Series TF Fund                                     | 811-06740         |
| Templeton Growth VIP Fund                                              | 811-05583         |
| Putnam Focused International Equity Fund                               | 811-01403         |
| Western Asset New Jersey Municipals Fund                               | 811-04254         |
| Templeton Global Dynamic Income Fund                                   | 811-08226         |
| Franklin Growth Fund                                                   | 811-00537         |
| Templeton World Fund                                                   | 811-02781         |
| Franklin Pennsylvania Tax-Free Income Fund                             | 811-04149         |
| Franklin Conservative Allocation Fund                                  | 811-07851         |
| Putnam Dynamic Asset Allocation Balanced Fund                          | 811-07121         |
| Franklin LifeSmart Retirement Income Fund                              | 811-07851         |
| Franklin Georgia Tax-Free Income Fund                                  | 811-04149         |
| Putnam Global Health Care Fund                                         | 811-03386         |
| Franklin Moderate Allocation Fund                                      | 811-07851         |
| Franklin Rising Dividends VIP Fund                                     | 811-05583         |
| Putnam Floating Rate Income Fund                                       | 811-07513         |
| Putnam VT Focused International Equity Fund                            | 811-05346         |
| Franklin Alternative Strategies Fund                                   | 811-22641         |
| Putnam VT Large Cap Value Fund                                         | 811-05346         |
| Franklin Mutual U.S. Mid Cap Value Fund                                | 811-05878         |
| Franklin Mutual Global Discovery Fund                                  | 811-05387         |
| Western Asset SMASh Series M Fund                                      | 811-06740         |
| Putnam International Equity Fund                                       | 811-06190         |
| Putnam Sustainable Future Fund                                         | 811-07237         |
| Putnam Core Bond Fund (f/k/a Putnam Fixed Income Absolute Return Fund) | 811-07513         |
| Western Asset Oregon Municipals Fund                                   | 811-04254         |
| Franklin Managed Income fund                                           | 811-04986         |
| Western Asset Short-Term Bond Fund                                     | 811-04254         |
| Franklin Global Real Estate VIP Fund                                   | 811-05583         |
| Franklin Global Equity Fund                                            | 811-06444         |
| Franklin California High Yield Municipal Fund                          | 811-06481         |
| ClearBridge Variable Large Cap Value Portfolio                         | 811-21128         |
| Western Asset Total Return Unconstrained Fund                          | 811-06110         |
| Templeton Global Total Return Fund                                     | 811-04706         |
| Franklin LifeSmart 2040 Retirement Target Fund                         | 811-07851         |
| Franklin Utilities Fund                                                | 811-00537         |
| ClearBridge Tactical Dividend Income Fund                              | 811-06444         |
| Western Asset Core Plus VIT Portfolio                                  | 811-06310         |
| Putnam Dynamic Asset Allocation Growth Fund                            | 811-07121         |
| Franklin Large Cap Growth VIP Fund                                     | 811-05583         |
| Franklin DynaTech Fund                                                 | 811-00537         |
| Franklin DynaTech VIP Fund                                             | 811-05583         |
| Franklin New Jersey Tax-Free Income Fund                               | 811-04149         |
| Franklin U.S. Government Securities Fund                               | 811-00537         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund                | 811-04149         |
| ClearBridge SMASh Series EM Fund                                       | 811-22338         |
| Western Asset Bond ETF                                                 | 811-23124         |
| Putnam VT Diversified Income Fund                                      | 811-05346         |
| Franklin LifeSmart 2045 Retirement Target Fund                         | 811-07851         |
| Franklin North Carolina Tax-Free Income Fund                           | 811-04149         |
| Putnam VT Research Fund                                                | 811-05346         |
| Putnam Ultra Short MAC Series                                          | 811-07513         |
| Franklin Small-Mid Cap Growth VIP Fund                                 | 811-05583         |
| Franklin Templeton Moderately Aggressive Model Portfolio               | 811-21128         |
| ClearBridge International Value Fund                                   | 811-06444         |
| Franklin Growth Opportunities Fund                                     | 811-06243         |
| Franklin Income VIP Fund                                               | 811-05583         |
| Franklin Ohio Tax-Free Income Fund                                     | 811-04149         |
| Putnam Mortgage Securities Fund                                        | 811-03897         |
| Franklin Multi-Asset Moderate Growth Fund                              | 811-06444         |
| Putnam VT Global Asset Allocation Fund                                 | 811-05346         |
| Franklin Gold and Precious Metals Fund                                 | 811-01700         |
| Western Asset SMASh Series Core Plus Completion Fund                   | 811-06740         |
| Franklin Real Estate Securities Fund                                   | 811-08034         |
| Western Asset Short Duration Municipal Income Fund                     | 811-04254         |
| Franklin High Yield Tax-Free Income Fund                               | 811-04149         |
| Putnam VT Emerging Markets Equity Fund                                 | 811-05346         |
| International Equity Series                                            | 811-06135         |
| Western Asset Pennsylvania Municipals Fund                             | 811-04254         |
| Franklin Templeton Moderate Model Portfolio                            | 811-21128         |
| Franklin Michigan Tax-Free Income Fund                                 | 811-04149         |
| Franklin Multi-Asset Variable Moderate Growth Fund                     | 811-21128         |
| Franklin Total Return Fund                                             | 811-04986         |
| BrandywineGLOBAL - Flexible Bond Fund                                  | 811-22338         |
| Franklin BSP CLO ETF                                                   | 811-23124         |
| ClearBridge Variable Large Cap Growth Portfolio                        | 811-21128         |
| BrandywineGLOBAL - Multi-Sector Opportunities Fund                     | 811-22338         |
| Franklin Oregon Tax-Free Income Fund                                   | 811-04149         |
| Putnam International Small Cap Fund                                    | 811-07237         |
| Franklin Small Cap Value Fund                                          | 811-05878         |
| Foreign Smaller Companies Series                                       | 811-06135         |
| ClearBridge Value Fund                                                 | 811-22338         |
| Franklin Allocation VIP Fund                                           | 811-05583         |
| Franklin High Income Fund                                              | 811-01608         |
| Franklin Multi-Asset Defensive Growth Fund                             | 811-06444         |
| Franklin California Intermediate-Term Tax-Free Income Fund             | 811-04356         |
| Putnam Dynamic Asset Allocation Conservative Fund                      | 811-07121         |
| Western Asset Massachusetts Municipals Fund                            | 811-04254         |
| Putnam Diversified Income Trust                                        | 811-05635         |
| Franklin Rising Dividends Fund                                         | 811-04894         |
| Franklin Louisiana Tax-Free Income Fund                                | 811-04149         |
| Western Asset Corporate Bond Fund                                      | 811-04254         |
| Franklin Strategic Income VIP Fund                                     | 811-05583         |
| Western Asset Intermediate-Term Municipals Fund                        | 811-04254         |
| ClearBridge Small Cap Growth Fund                                      | 811-06444         |
| Putnam Sustainable Leaders Fund                                        | 811-06128         |
| Franklin Federal Tax-Free Income Fund                                  | 811-03395         |
| Putnam Large Cap Value Fund                                            | 811-02742         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund                 | 811-22338         |
| Putnam International Value Fund                                        | 811-07513         |
| BrandywineGLOBAL - High Yield Fund                                     | 811-06444         |
| Western Asset Long Credit VIT                                          | 811-06310         |
| ClearBridge Variable Dividend Strategy Portfolio                       | 811-21128         |
| ClearBridge Mid Cap Growth Fund                                        | 811-06444         |
| George Putnam Balanced Fund                                            | 811-00058         |
| Western Asset Short Duration High Income Fund                          | 811-04254         |
| Putnam Short-Term Municipal Income Fund                                | 811-07513         |
| Western Asset Inflation Indexed Plus Bond Fund                         | 811-06110         |
| ClearBridge Emerging Markets Fund                                      | 811-22338         |
| ClearBridge Variable Growth Portfolio                                  | 811-21128         |
| Western Asset Intermediate Bond Fund                                   | 811-06110         |
| Putnam VT International Equity Fund                                    | 811-05346         |
| Franklin Massachusetts Tax-Free Income Fund                            | 811-04149         |
| Putnam VT George Putnam Balanced Fund                                  | 811-05346         |
| Putnam Global Technology Fund                                          | 811-07513         |
| Franklin Virginia Tax-Free Income Fund                                 | 811-04149         |
| Franklin LifeSmart 2035 Retirement Target Fund                         | 811-07851         |
| Putnam VT High Yield Fund                                              | 811-05346         |
| Franklin LifeSmart 2060 Retirement Target Fund                         | 811-07851         |
| Franklin Maryland Tax-Free Income Fund                                 | 811-04149         |
| Templeton Sustainable Emerging Markets Bond Fund                       | 811-04706         |
| ClearBridge Global Infrastructure Income Fund                          | 811-22338         |
| Franklin Corefolio Allocation Fund                                     | 811-07851         |
| Franklin Small-Mid Cap Growth Fund                                     | 811-06243         |
| Franklin LifeSmart 2030 Retirement Target Fund                         | 811-07851         |
| Franklin Templeton SMACS: Series C                                     | 811-06243         |
| Putnam VT Small Cap Growth Fund                                        | 811-05346         |
| Western Asset Ultra-Short Income Fund                                  | 811-04254         |
| Franklin Templeton Conservative Model Portfolio                        | 811-21128         |
| Franklin LifeSmart 2055 Retirement Target Fund                         | 811-07851         |
| ClearBridge Small Cap Fund                                             | 811-22338         |
| Franklin Small Cap Value VIP Fund                                      | 811-05583         |
| Franklin Natural Resources Fund                                        | 811-06243         |
| ClearBridge Variable Small Cap Growth Portfolio                        | 811-21128         |
| Franklin LifeSmart 2020 Retirement Target Fund                         | 811-07851         |
| Franklin Growth and Income VIP Fund                                    | 811-05583         |
| Putnam VT Small Cap Value Fund                                         | 811-05346         |
| ClearBridge Dividend Strategy Fund                                     | 811-06444         |
| Putnam High Yield Fund                                                 | 811-04616         |
| Franklin Connecticut Tax-Free Income Fund                              | 811-04149         |
| Putnam Small Cap Value Fund                                            | 811-07237         |
| BrandywineGLOBAL - Global Opportunities Bond Fund                      | 811-22338         |
| Franklin Missouri Tax-Free Income Fund                                 | 811-04149         |
| Putnam VT Sustainable Future Fund                                      | 811-05346         |
| Templeton Developing Markets Trust                                     | 811-06378         |
| Western Asset Managed Municipals Fund                                  | 811-04254         |
| Templeton Emerging Markets Small Cap Fund                              | 811-08226         |
| Putnam VT Core Equity Fund                                             | 811-05346         |
| Western Asset New York Municipals Fund                                 | 811-04254         |
| Templeton Developing Markets VIP Fund                                  | 811-05583         |
| Putnam VT Large Cap Growth Fund                                        | 811-05346         |
| Putnam Small Cap Growth Fund                                           | 811-07513         |
| Franklin Mutual Global Discovery VIP Fund                              | 811-05583         |

- **v. Did the Fund draw on the line of credit this period?** No

- **b. Did the Fund engage in interfund lending?** No

- **c. Did the Fund engage in interfund borrowing?** No

**Item C.21. Swing pricing.**

- **a. Did the Fund (if not a Money Market Fund, Exchange-Traded Fund, or Exchange-Traded Managed Fund) engage in swing pricing?** No

## N-CEN: Part G: Attachments

**Item G.1a. Attachments.**

Attachments applicable to all Registrants. All Registrants shall file the following attachments, as applicable, with the current report. Indicate the attachments filed with the current report by checking the applicable items below:

- [ ] i. Legal proceedings

- [ ] ii. Provision of financial support

- [x] iii. Independent public accountant's report on internal control (management investment companies other than small business investment companies only)

- [ ] iv. Change in accounting principles and practices

- [ ] v. Information required to be filed pursuant to exemptive orders

- [ ] vi. Other information required to be included as an attachment pursuant to Commission rules and regulations

## N-CEN: Signature

Pursuant to the requirements of the Investment Company Act of 1940, the Registrant has duly caused this report to a be signed on its behalf by the undersigned hereunto duly authorized.

**Registrant:** Legg Mason Partners Institutional Trust

**Date:** 2026-05-06

**Signature:** Christopher Berarducci

**Title:** Principal Financial Officer and Treasurer