# EDGAR Filing Document

**Accession Number:** 0000889512
**File Stem:** 0001193125-26-007543
**Filing Date:** 2026-1
**Character Count:** 18249
**Document Hash:** e47d455713d9afaed328ab72233784d4
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-26-007543.hdr.sgml**: 20260108

**ACCESSION NUMBER**: 0001193125-26-007543

**CONFORMED SUBMISSION TYPE**: N-MFP3

**PUBLIC DOCUMENT COUNT**: 1

**CONFORMED PERIOD OF REPORT**: 20251231

**FILED AS OF DATE**: 20260108

**DATE AS OF CHANGE**: 20260108

**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-MFP3
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06740
- **FILM NUMBER:** 26519221

**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 Institutional Liquid Reserves (Series ID: S000008908)

| Class ID   | Class Name           | Ticker Symbol   |
|:---|:---|:---|
| C000024235 | Institutional Shares | CILXX           |
| C000089731 | Investor Shares      | LLRXX           |

# Form N-MFP3: Monthly Schedule of Portfolio Holdings

## N-MFP: Filer Information
**Submission Type:** N-MFP3
**CIK:** 0000889512

### General Information

**Report for (YYYY-MM-DD):** 2025-12-31

**Registrant Full Name:** Legg Mason Partners Institutional Trust

**CIK Number of Registrant:** 0000889512

**LEI of Registrant:** 54930003LJE4ZPPMRV82

**Name of Series:** Western Asset Institutional Liquid Reserves

**LEI of Series:** 5493000JWV15U527D845

**EDGAR Series Identifier:** S000008908

**Total number of share classes in the series:** 2

**Is this the fund's final filing on Form N-MFP?:** No

**Has the fund acquired or merged with another fund?:** No

## Part A: Series-Level Information about the Fund

### Service Providers
| Role                          | Details                                                      | File/CIK Number   |
|:---|:---|:---|
| Investment Adviser            | Franklin Templeton Fund Adviser LLC                          | 801-66785         |
| Independent Public Accountant | PricewaterhouseCoopers LLP<br>City: Baltimore<br>State: MD   |  |
| Transfer Agent                | BNY Mellon Investment Servicing (US) Inc.<br>CIK: 0000849542 | 084-01761         |

### Fund Characteristics & Assets

- **Securities Act File Number:** 033-49552

- **Is this a Feeder Fund?:** Yes

- **Is this a Master Fund?:** No

- **Is this series for insurance company separate accounts?:** No

- **Money Market Fund Category:** Prime

- **Is this a Retail Money Market Fund?:** No

- **Is this a Government Money Market Fund?:** No

- **WAM:** 6 days

- **WAL:** 6 days

- **Total Value of Portfolio Securities:** $626149851.50

- **Amortized Cost of Portfolio Securities:** $0.00

- **Cash:** $0.00

- **Total Other Assets:** $54495.89

- **Total Liabilities:** $2135751.68

- **Net Assets of Series:** $624068595.71

- **Number of Shares Outstanding (Series):** 624081891.8880

- **Does the fund seek to maintain a stable price per share?:** No

- **Stable Price Per Share:** $0.00

- **Is cash management vehicle an affiliated fund?:** No

- **Does the fund apply liquidity fees?:** No

### Daily & Weekly Liquid Assets
| Date       | Daily Liquid Assets ($)   | Weekly Liquid Assets ($)   | Daily Liquid Assets (%)   | Weekly Liquid Assets (%)   |
|:---|:---|:---|:---|:---|
| 2025-12-01 | $3111779726.59            | $4361602576.59             | 48.8800%                  | 68.5100%                   |
| 2025-12-02 | $3740661842.77            | $4465478642.77             | 58.0300%                  | 69.2800%                   |
| 2025-12-03 | $3121434588.44            | $4046236415.94             | 51.8000%                  | 67.1400%                   |
| 2025-12-04 | $3227036609.32            | $4236746150.82             | 51.2300%                  | 67.2600%                   |
| 2025-12-05 | $3120206251.38            | $4279878279.88             | 49.1900%                  | 67.4700%                   |
| 2025-12-08 | $3238917114.61            | $4398686628.61             | 50.9100%                  | 69.1400%                   |
| 2025-12-09 | $3610090393.94            | $4344937523.44             | 57.2300%                  | 68.8800%                   |
| 2025-12-10 | $3075982646.01            | $3690851223.51             | 54.4000%                  | 65.2700%                   |
| 2025-12-11 | $3238378975.42            | $4253026838.92             | 51.2700%                  | 67.3400%                   |
| 2025-12-12 | $3283560910.71            | $4198276430.21             | 52.4300%                  | 67.0400%                   |
| 2025-12-15 | $2981790465.35            | $4286559823.85             | 47.7100%                  | 68.5800%                   |
| 2025-12-16 | $4224484493.88            | $5199358531.38             | 58.5700%                  | 72.0800%                   |
| 2025-12-17 | $3917696976.35            | $4517654423.85             | 59.9800%                  | 69.1600%                   |
| 2025-12-18 | $1971232144.78            | $2521206382.28             | 43.4700%                  | 55.5900%                   |
| 2025-12-19 | $2150878627.65            | $2525878627.65             | 47.3600%                  | 55.6200%                   |
| 2025-12-22 | $2165732277.64            | $2540732277.64             | 47.5500%                  | 55.7800%                   |
| 2025-12-23 | $2457934451.34            | $2782934451.34             | 51.2500%                  | 58.0300%                   |
| 2025-12-24 | $1917812106.29            | $2392719996.29             | 44.5400%                  | 55.5700%                   |
| 2025-12-26 | $2446308032.08            | $2952802986.60             | 50.5700%                  | 61.0400%                   |
| 2025-12-29 | $2566742103.76            | $3123236121.80             | 51.7800%                  | 63.0000%                   |
| 2025-12-30 | $2604336762.29            | $3235755915.01             | 51.3700%                  | 63.8200%                   |
| 2025-12-31 | $3426171931.35            | $4105578577.53             | 57.6800%                  | 69.1200%                   |

### 7-Day Gross Yield
| Date       | 7-Day Gross Yield   |
|:---|:---|
| 2025-12-01 | 4.0600%             |
| 2025-12-02 | 4.0700%             |
| 2025-12-03 | 4.0600%             |
| 2025-12-04 | 4.0600%             |
| 2025-12-05 | 4.0300%             |
| 2025-12-08 | 4.0200%             |
| 2025-12-09 | 4.0200%             |
| 2025-12-10 | 4.0100%             |
| 2025-12-11 | 3.9900%             |
| 2025-12-12 | 3.9100%             |
| 2025-12-15 | 3.8900%             |
| 2025-12-16 | 3.8600%             |
| 2025-12-17 | 3.8400%             |
| 2025-12-18 | 3.8300%             |
| 2025-12-19 | 3.8400%             |
| 2025-12-22 | 3.8400%             |
| 2025-12-23 | 3.8400%             |
| 2025-12-24 | 3.8500%             |
| 2025-12-26 | 3.8500%             |
| 2025-12-29 | 3.8600%             |
| 2025-12-30 | 3.8600%             |
| 2025-12-31 | 3.8600%             |

### Daily Net Asset Value per Share (Series)
| Date       | Net Asset Value per Share   |
|:---|:---|
| 2025-12-01 | 1.0000                      |
|  |  |
| 2025-12-02 | 1.0000                      |
|  |  |
| 2025-12-03 | 1.0000                      |
|  |  |
| 2025-12-04 | 1.0000                      |
|  |  |
| 2025-12-05 | 1.0000                      |
|  |  |
| 2025-12-08 | 1.0000                      |
|  |  |
| 2025-12-09 | 1.0000                      |
|  |  |
| 2025-12-10 | 1.0000                      |
|  |  |
| 2025-12-11 | 1.0000                      |
|  |  |
| 2025-12-12 | 1.0000                      |
|  |  |
| 2025-12-15 | 1.0000                      |
|  |  |
| 2025-12-16 | 1.0000                      |
|  |  |
| 2025-12-17 | 1.0000                      |
|  |  |
| 2025-12-18 | 1.0000                      |
|  |  |
| 2025-12-19 | 1.0000                      |
|  |  |
| 2025-12-22 | 1.0000                      |
|  |  |
| 2025-12-23 | 1.0000                      |
|  |  |
| 2025-12-24 | 1.0000                      |
|  |  |
| 2025-12-26 | 1.0000                      |
|  |  |
| 2025-12-29 | 1.0000                      |
|  |  |
| 2025-12-30 | 1.0000                      |
|  |  |
| 2025-12-31 | 1.0000                      |
|  |  |

## Part B: Class-Level Information about the Fund

### Class: 0L

- **Minimum Initial Investment:** $1000000.00

- **Net Assets of Class:** $623424252.39

- **Number of Shares Outstanding:** 623437490.1430

- **Expense Reimbursement/Waiver:** 95761.21

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-12-01 | 1.0000          |
|  |  |
| 2025-12-02 | 1.0000          |
|  |  |
| 2025-12-03 | 1.0000          |
|  |  |
| 2025-12-04 | 1.0000          |
|  |  |
| 2025-12-05 | 1.0000          |
|  |  |
| 2025-12-08 | 1.0000          |
|  |  |
| 2025-12-09 | 1.0000          |
|  |  |
| 2025-12-10 | 1.0000          |
|  |  |
| 2025-12-11 | 1.0000          |
|  |  |
| 2025-12-12 | 1.0000          |
|  |  |
| 2025-12-15 | 1.0000          |
|  |  |
| 2025-12-16 | 1.0000          |
|  |  |
| 2025-12-17 | 1.0000          |
|  |  |
| 2025-12-18 | 1.0000          |
|  |  |
| 2025-12-19 | 1.0000          |
|  |  |
| 2025-12-22 | 1.0000          |
|  |  |
| 2025-12-23 | 1.0000          |
|  |  |
| 2025-12-24 | 1.0000          |
|  |  |
| 2025-12-26 | 1.0000          |
|  |  |
| 2025-12-29 | 1.0000          |
|  |  |
| 2025-12-30 | 1.0000          |
|  |  |
| 2025-12-31 | 1.0000          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-12-01 | $18160336.29              | $6899920.13             |
| 2025-12-02 | $6807.68                  | $2450225.08             |
| 2025-12-03 | $10000.00                 | $2164960.38             |
| 2025-12-04 | $351012.11                | $4201164.10             |
| 2025-12-05 | $2825587.12               | $7680956.28             |
| 2025-12-08 | $390955.57                | $16639560.56            |
| 2025-12-09 | $2021404.90               | $3348755.42             |
| 2025-12-10 | $1315487.64               | $693977.05              |
| 2025-12-11 | $12900950.75              | $3522394.98             |
| 2025-12-12 | $573880.45                | $4545425.50             |
| 2025-12-15 | $9255940.43               | $260643.89              |
| 2025-12-16 | $1842535.41               | $4126978.12             |
| 2025-12-17 | $198866.13                | $2404561.77             |
| 2025-12-18 | $38000.00                 | $5475943.59             |
| 2025-12-19 | $675869.89                | $3239948.62             |
| 2025-12-22 | $12026677.48              | $4973979.12             |
| 2025-12-23 | $25000.00                 | $19332551.71            |
| 2025-12-24 | $871330.52                | $1995166.34             |
| 2025-12-26 | $5237437.00               | $1443625.00             |
| 2025-12-29 | $1732000.00               | $642581.43              |
| 2025-12-30 | $2778135.04               | $3682747.33             |
| 2025-12-31 | $13354031.00              | $849446.34              |

**Total Gross Subscriptions (Month):** $86592245.41

**Total Gross Redemptions (Month):** $100575512.74

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-12-01 | 3.8800%           |
| 2025-12-02 | 3.8900%           |
| 2025-12-03 | 3.8800%           |
| 2025-12-04 | 3.8800%           |
| 2025-12-05 | 3.8500%           |
| 2025-12-08 | 3.8400%           |
| 2025-12-09 | 3.8300%           |
| 2025-12-10 | 3.8300%           |
| 2025-12-11 | 3.8100%           |
| 2025-12-12 | 3.7300%           |
| 2025-12-15 | 3.7100%           |
| 2025-12-16 | 3.6800%           |
| 2025-12-17 | 3.6600%           |
| 2025-12-18 | 3.6500%           |
| 2025-12-19 | 3.6600%           |
| 2025-12-22 | 3.6600%           |
| 2025-12-23 | 3.6600%           |
| 2025-12-24 | 3.6600%           |
| 2025-12-26 | 3.6700%           |
| 2025-12-29 | 3.6700%           |
| 2025-12-30 | 3.6800%           |
| 2025-12-31 | 3.6800%           |

**Beneficial/Record Owner Categories**
| Category                  | Other Category     | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer             |  | 8.0400%          | 0.0000%              |
| Broker-dealer             |  | 48.3600%         | 0.0000%              |
| Non-financial corporation |  | 26.9700%         | 0.0000%              |
| Other                     | IND FID AS TRUSTEE | 6.3100%          | 0.0000%              |

### Class: 0I

- **Minimum Initial Investment:** $1000000.00

- **Net Assets of Class:** $644343.32

- **Number of Shares Outstanding:** 644401.7450

- **Expense Reimbursement/Waiver:** 4626.52

**Daily Net Asset Value per Share (Class)**
| Date       | NAV per Share   |
|:---|:---|
| 2025-12-01 | 0.9999          |
|  |  |
| 2025-12-02 | 0.9999          |
|  |  |
| 2025-12-03 | 0.9999          |
|  |  |
| 2025-12-04 | 0.9999          |
|  |  |
| 2025-12-05 | 0.9999          |
|  |  |
| 2025-12-08 | 0.9999          |
|  |  |
| 2025-12-09 | 0.9999          |
|  |  |
| 2025-12-10 | 0.9999          |
|  |  |
| 2025-12-11 | 0.9999          |
|  |  |
| 2025-12-12 | 0.9999          |
|  |  |
| 2025-12-15 | 0.9999          |
|  |  |
| 2025-12-16 | 0.9999          |
|  |  |
| 2025-12-17 | 0.9999          |
|  |  |
| 2025-12-18 | 0.9999          |
|  |  |
| 2025-12-19 | 0.9999          |
|  |  |
| 2025-12-22 | 0.9999          |
|  |  |
| 2025-12-23 | 0.9999          |
|  |  |
| 2025-12-24 | 0.9999          |
|  |  |
| 2025-12-26 | 0.9999          |
|  |  |
| 2025-12-29 | 0.9999          |
|  |  |
| 2025-12-30 | 0.9999          |
|  |  |
| 2025-12-31 | 0.9999          |
|  |  |

**Daily Shareholder Flows**
| Date       | Gross Subscriptions ($)   | Gross Redemptions ($)   |
|:---|:---|:---|
| 2025-12-01 | $2006.28                  | $7.61                   |
| 2025-12-02 | $0.00                     | $0.00                   |
| 2025-12-03 | $0.00                     | $1.27                   |
| 2025-12-04 | $0.00                     | $0.00                   |
| 2025-12-05 | $0.00                     | $0.00                   |
| 2025-12-08 | $0.00                     | $0.00                   |
| 2025-12-09 | $0.00                     | $0.00                   |
| 2025-12-10 | $0.00                     | $0.00                   |
| 2025-12-11 | $0.00                     | $0.00                   |
| 2025-12-12 | $0.00                     | $0.00                   |
| 2025-12-15 | $0.00                     | $0.00                   |
| 2025-12-16 | $0.00                     | $0.00                   |
| 2025-12-17 | $0.00                     | $0.00                   |
| 2025-12-18 | $0.00                     | $0.00                   |
| 2025-12-19 | $0.00                     | $0.00                   |
| 2025-12-22 | $0.00                     | $0.00                   |
| 2025-12-23 | $0.00                     | $0.00                   |
| 2025-12-24 | $0.00                     | $0.00                   |
| 2025-12-26 | $0.00                     | $0.00                   |
| 2025-12-29 | $0.00                     | $0.00                   |
| 2025-12-30 | $0.00                     | $0.00                   |
| 2025-12-31 | $0.00                     | $0.00                   |

**Total Gross Subscriptions (Month):** $2006.28

**Total Gross Redemptions (Month):** $8.88

**7-Day Net Yield (Class)**
| Date       | 7-Day Net Yield   |
|:---|:---|
| 2025-12-01 | 3.8300%           |
| 2025-12-02 | 3.8400%           |
| 2025-12-03 | 3.8300%           |
| 2025-12-04 | 3.8300%           |
| 2025-12-05 | 3.8000%           |
| 2025-12-08 | 3.7900%           |
| 2025-12-09 | 3.7800%           |
| 2025-12-10 | 3.7800%           |
| 2025-12-11 | 3.7600%           |
| 2025-12-12 | 3.6800%           |
| 2025-12-15 | 3.6600%           |
| 2025-12-16 | 3.6300%           |
| 2025-12-17 | 3.6100%           |
| 2025-12-18 | 3.6000%           |
| 2025-12-19 | 3.6100%           |
| 2025-12-22 | 3.6100%           |
| 2025-12-23 | 3.6100%           |
| 2025-12-24 | 3.6100%           |
| 2025-12-26 | 3.6200%           |
| 2025-12-29 | 3.6200%           |
| 2025-12-30 | 3.6300%           |
| 2025-12-31 | 3.6300%           |

**Beneficial/Record Owner Categories**
| Category      | Other Category   | Record Owner %   | Beneficial Owner %   |
|:---|:---|:---|:---|
| Broker-dealer |  | 100.0000%        | 0.0000%              |

## Part C: Schedule of Portfolio Securities

### Security 1: Liquid Reserves Portfolio

- **C.1 - Title:** Liquid Reserves Portfolio
- **C.6 - Investment Category:** Investment Company
- **Identifiers:** C.3 - CUSIP: NA, C.3 - LEI: N/A, C.5 - Other ID: LMLIQUIDRESERVE
- **C.18 - Value (incl. sponsor support):** $626149851.50
- **C.18.a - Value (excl. sponsor support):** $626149851.50
- **C.19 - Percentage of Net Assets:** 100.0000%
- **C.17 - Yield as of Reporting Date:** 0.0000%
- **C.11 - Maturity Date (WAM):** 2026-01-02
- **C.12 - Maturity Date (WAL):** 2026-01-02
- **C.13 - Final Legal Maturity Date:** 2026-01-02
- **C.10 - Ratings:** Fitch, Inc.: NR; Moody's Investors Service, Inc.: NR; Standard and Poor's Ratings Services: NR
- **Characteristics:** C.9 Eligible Security? Yes, C.14 Has Demand Feature? No, C.15 Has Guarantee? No, C.16 Has Enhancement? No, C.22 Is an Illiquid Security? No, C.20 Is a Daily Liquid Asset? Yes, C.21 Is a Weekly Liquid Asset? Yes, C.23 Categorized at Level 3? No

## N-MFP: Signatures

**Registrant:** Legg Mason Partners Institutional Trust

**Date:** 2026-01-08

**By:** /s/Christopher Berarducci

**Name of Signing Officer:** Christopher Berarducci

**Title of Signing Officer:** Principal Financial Officer