# EDGAR Filing Document

**Accession Number:** 0000874835
**File Stem:** 0001752724-23-051609
**Filing Date:** 2023-3
**Character Count:** 101601
**Document Hash:** 604e9c3d39217968b44acc348dadc491
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001752724-23-051609.hdr.sgml**: 20230310

**ACCESSION NUMBER**: 0001752724-23-051609

**CONFORMED SUBMISSION TYPE**: N-CEN

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230310

**DATE AS OF CHANGE**: 20230310

**EFFECTIVENESS DATE**: 20230310

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** LEGG MASON PARTNERS VARIABLE INCOME TRUST
- **CENTRAL INDEX KEY:** 0000874835
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** MD
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** N-CEN
- **SEC ACT:** 1940 Act
- **SEC FILE NUMBER:** 811-06310
- **FILM NUMBER:** 23722109

**BUSINESS ADDRESS:**
- **STREET 1:** LEGG MASON & CO., LLC
- **STREET 2:** 620 EIGHTH AVENUE, 49TH FLOOR
- **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, 49TH FLOOR
- **CITY:** NEW YORK
- **STATE:** NY
- **ZIP:** 10018

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** LEGG MASON PARTNERS VARIABLE PORTFOLIOS II
- **DATE OF NAME CHANGE:** 20060501

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** GREENWICH STREET SERIES FUND
- **DATE OF NAME CHANGE:** 19970902

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SHEARSON SERIES FUND
- **DATE OF NAME CHANGE:** 19920929

## Series and Classes Contracts Data

### Western Asset Core Plus VIT Portfolio (Series ID: S000016930)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047111 | Class I      | QLMHIX          |
| C000154792 | Class II     | LVITX           |

### Western Asset Variable Global High Yield Bond Portfolio (Series ID: S000017004)

| Class ID   | Class Name   | Ticker Symbol   |
|:---|:---|:---|
| C000047256 | Class I      | QLMYIX          |
| C000047257 | Class II     | QLMYTX          |

## Internal

**Report of Independent Registered Public Accounting Firm**

To the Board of Trustees of Legg Mason Partners Variable Income Trust and Shareholders of Western Asset Core Plus VIT Portfolio and Western Asset Variable Global High Yield Bond Portfolio

In planning and performing our audits of the financial statements of Western Asset Core Plus VIT Portfolio and Western Asset Variable Global High Yield Bond Portfolio (each a portfolio of Legg Mason Partners Variable Income Trust, hereinafter referred to as the "Portfolios") as of and for the year ended December 31, 2022, in accordance with the standards of the Public Company Accounting Oversight Board (United States) (PCAOB), we considered the Portfolios' 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 Portfolios' internal control over financial reporting. Accordingly, we do not express an opinion on the effectiveness of the Portfolios' internal control over financial reporting.

The management of the Portfolios 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.

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.

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.

Our consideration of the Portfolios' 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 Portfolios' 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 December 31, 2022.

This report is intended solely for the information and use of the Board of Trustees of Legg Mason Partners Variable Income 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.

/s/ PricewaterhouseCoopers LLP

Baltimore, Maryland

February 17, 2023

PricewaterhouseCoopers LLP, 100 East Pratt Street, Suite 2600, Baltimore, MD 21202-1096

T: (410) 783 7600, F: (410) 783 7680, www. pwc.com/us

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

## N-CEN: Filer Information
**Submission Type:** N-CEN
**CIK:** 0000874835

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

**Series ID Record:1**
- **Series ID:** S000016930

**Series ID Record:2**
- **Series ID:** S000017004

**Class ID Record:1**
- **Class ID:** C000047111

**Class ID Record:2**
- **Class ID:** C000154792

**Class ID Record:3**
- **Class ID:** C000047257

**Class ID Record:4**
- **Class ID:** C000047256

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

**Item A.1.a - Report for period ending:** 2022-12-31

**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 Variable Income Trust

- **Item B.1.b - Investment Company Act file number:** 811-06310

- **Item B.1.c - CIK:** 0000874835

- **Item B.1.d - LEI:** 549300HMB5WZ1N3QY685

- **Item B.2.a - Street 1:** 620 Eighth Avenue

- **Item B.2.a - Street 2:** 47th Floor

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

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

- **Item B.2.e - Zip Code:** 10018

- **Item B.2.f - Telephone:** 1-877-721-1926

- **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):** 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 sub-advisor.

**Location books Record: 2**

- **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:** 1-212-495-1784

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

**Location books Record: 3**

- **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 sub-advisor.

**Location books Record: 4**

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

- **b. Street 1:** 3344 Quality Drive

- **c. City:** Rancho Cordova

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 95670

- **g. Telephone number:** 1-916-463-2075

- **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, 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-advisor.

**Location books Record: 6**

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

- **b. Street 1:** 301 Bellevue Parkway

- **c. City:** Wilmington

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 19809

- **g. Telephone number:** 1-302-791-1700

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

**Location books Record: 7**

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

- **b. Street 1:** 100 International Drive

- **c. City:** Baltimore

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

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

- **f. Zip code and zip code extension, or foreign postal code:** 21202

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

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

**Location books Record: 8**

- **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 sub-advisor.

**Location books Record: 9**

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

- **b. Street 1:** 620 Eighth Avenue

- **Street 2:** 47th 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:** 10018

- **g. Telephone number:** 1-877-721-1926

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

**Location books Record: 10**

- **a. Name of person (e.g., a custodian of records):** Legg Mason Partners Fund Advisor, LLC

- **b. Street 1:** 280 Park 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:** 10017

- **g. Telephone number:** 1-305-529-4400

- **h. Briefly describe the books and records kept at this location:** Records related to its function as 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:** 2

- **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                      | 811-06740, 811-21403, 811-04254, 811-06110, 811-02351, 811-21477, 811-10603, 811-10407, 811-04052, 811-05812                                                                                                                                                                                                                                                              |
| Jane Trust               | Yes                     | 811-06740, 811-21403, 811-05497, 811-07920, 811-08709, 811-06506, 811-02351, 811-22444, 811-10407, 811-21467, 811-22294, 811-21343, 811-22405, 811-22491, 811-23408, 811-22693, 811-06444, 811-10603, 811-22369, 811-06629, 811-04052, 811-04254, 811-06110, 811-07362, 811-21477, 811-22582, 811-22338, 811-05812, 811-22334, 811-22546, 811-23598, 811-21337, 811-21128 |
| Michael Larson           | No                      | 811-02351, 811-06110, 811-04052, 811-06740, 811-04254, 811-10407, 811-21477, 811-21403, 811-05812, 811-10603                                                                                                                                                                                                                                                              |
| Susan B. Kerley          | No                      | 811-10407, 811-04550, 811-03833-01, 811-21403, 811-22321, 811-21477, 811-10603, 811-02351, 811-04254, 811-06110, 811-06740, 811-04052, 811-22551, 811-05812                                                                                                                                                                                                               |
| Robert Abeles, Jr.       | No                      | 811-06110, 811-02351, 811-10407, 811-04052, 811-21477, 811-21403, 811-05812, 811-06740, 811-10603, 811-04254                                                                                                                                                                                                                                                              |
| Avedick B. Poladian      | No                      | 811-06110, 811-04052, 811-04254, 811-21403, 811-05812, 811-10407, 811-21477, 811-02351, 811-10603, 811-06740                                                                                                                                                                                                                                                              |
| William E. B. Siart      | No                      | 811-21477, 811-10603, 811-02351, 811-04052, 811-05812, 811-10407, 811-06740, 811-04254, 811-21403, 811-06110                                                                                                                                                                                                                                                              |
| Ronald L. Olson          | Yes                     | 811-05812, 811-10603, 811-21477, 811-06110, 811-02351, 811-10407, 811-04254, 811-06740, 811-04052, 811-21403                                                                                                                                                                                                                                                              |
| Jane F. Dasher           | No                      | 811-10603, 811-06740, 811-04254, 811-21403, 811-05812, 811-06110, 811-02351, 811-21477, 811-10407, 811-04052                                                                                                                                                                                                                                                              |
| Jaynie Miller Studenmund | No                      | 811-10407, 811-06740, 811-10603, 811-04052, 811-02351, 811-21403, 811-05812, 811-06110, 811-04254, 811-21477                                                                                                                                                                                                                                                              |
| Anita L. DeFrantz        | No                      | 811-02351, 811-05812, 811-10603, 811-21477, 811-06740, 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:** 280 Park Avenue

- **   Street Address 2:** 8th Floor

- **d. City:** New York

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

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

- **g. Zip code:** 10017

- **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:** MD

- **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.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 Core Plus VIT Portfolio

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

- **a. Full Name of the Fund:** Western Asset Core Plus VIT Portfolio

- **b. Series identification number, if any:** S000016930

- **c. LEI:** 549300ZKZMJ585OXJ739

- **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?:** 2

- **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 | Class I                 | C000047111                                | QLMHIX                       |
|                           2 | Class II                | C000154792                                | LVITX                        |

**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 12d1-1 (17 CFR 270.12d1-1)

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

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

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

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

**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:** Legg Mason Partners Fund Advisor, 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

**Sub-adviser Record: 3**

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

- **ii. SEC file number:** 801-68224

- **iii. CRD number:** 000143388

- **iv. LEI, if any:** 549300ILBTC2ZDZBT448

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

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

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

**Sub-adviser Record: 4**

- **i. Full name:** Western Asset Management Company Pte. Ltd.

- **ii. SEC file number:** 801-67298

- **iii. CRD number:** 000142188

- **iv. LEI, if any:** 549300GGQQAH8OMMCX51

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

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

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

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

**Transfer Agents Record: 1**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

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

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

**Transfer Agents Record: 2**

- **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?** Yes

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

**Pricing Services Record: 1**

- **i. Full name:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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:** 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: 3**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 5**

- **i. Full name:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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

**Pricing Services Record: 7**

- **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: 8**

- **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: 9**

- **i. Full name:** Refinitiv Benchmark Services Limited

- **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

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

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

**Shareholder Servicing Agents Record: 2**

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

- **ii. LEI, if any:** 084-01036

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, 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:** 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

**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:** 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: 4**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

- **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

**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:** $3,051.30

**Brokers Record: 2**

- **i. Full name of broker:** Marex North America Securities LLC

- **ii. SEC file number:** 008-70580

- **iii. CRD number:** 000307508

- **iv. LEI, if any:** 984500E3F678110C8570

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,012.64

**Brokers Record: 3**

- **i. Full name of broker:** MERRILL LYNCH PROFESSIONAL CLEARING CORP.

- **ii. SEC file number:** 008-33359

- **iii. CRD number:** 000016139

- **iv. LEI, if any:** 549300PMHS66E71I2D34

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $2,409.74

**Brokers Record: 4**

- **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:** $5,706.12

**Brokers Record: 5**

- **i. Full name of broker:** UBS Securities LLC

- **ii. SEC file number:** 008-22651

- **iii. CRD number:** 000007654

- **iv. LEI, if any:** T6FIZBDPKLYJKFCRVK44

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $1,689.59

**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:** $16,565.62

**Brokers Record: 7**

- **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:** $7,877.51

**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:** $4,169.08

**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:** $4,185.62

**Brokers Record: 10**

- **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:** $5,566.60

**Aggregate Commission:** $53,337.11

**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        | $97,372,597.69            |
| CITADEL CLEARING LLC                      | 008-69521         |    000172693 | 5493001I7IJ4CW6Q9N27 | IL      | US        | $7,815,740.64             |
| Goldman Sachs & Co. LLC                   | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $144,052,825.65           |
| CREDIT SUISSE SECURITIES (USA) LLC        | 008-00422         |    000000816 | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $20,431,405.06            |
| J.P. Morgan Securities LLC                | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $187,210,465.84           |
| NOMURA SECURITIES INTERNATIONAL, INC.     | 008-15255         |    000004297 | OXTKY6Q8X53C9ILVV871 | NY      | US        | $10,211,576.29            |
| WELLS FARGO SECURITIES, LLC               | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $29,836,426.77            |
| BNP PARIBAS SECURITIES CORP.              | 008-32682         |    000015794 | RCNB6OTYUAMMP879YW96 | NY      | US        | $11,744,477.67            |
| MORGAN STANLEY & CO. LLC                  | 008-15869         |    000008209 | 9R7GPTSO7KV3UQJZQ078 | NY      | US        | $79,943,099.76            |
| Merrill Lynch Professional Clearing Corp. | 008-33359         |    000016139 | 549300PMHS66E71I2D34 | NY      | US        | $50,433,717.50            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $697,841,977.25

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

- **Item C.19.a - Fund's monthly average net assets:** $291,699,840.37

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

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

  - **Line Institutions Record: 1 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 2 Name of institution:** GOLDMAN SACHS BANK USA

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

  - **Line Institutions Record: 4 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 5 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 6 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 7 Name of institution:** BARCLAYS BANK PLC

  - **Line Institutions Record: 8 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 9 Name of institution:** THE BANK OF NEW YORK MELLON

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

  - **Line Institutions Record: 11 Name of institution:** STATE STREET BANK AND TRUST COMPANY

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

  - **Line Institutions Record: 13 Name of institution:** STANDARD CHARTERED BANK

  - **Line Institutions Record: 14 Name of institution:** BANK OF AMERICA, N.A.

  - **Line Institutions Record: 15 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 16 Name of institution:** WELLS FARGO BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 17 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 18 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 19 Name of institution:** MORGAN STANLEY BANK, N.A.

  - **Line Institutions Record: 20 Name of institution:** ROYAL BANK OF CANADA

- **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   |
|:---|:---|
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| ClearBridge Select Fund                                        | 811-06444         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| International Equity Series                                    | 811-06135         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Templeton Foreign Fund                                         | 811-02781         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Franklin International Growth Fund                             | 811-10157         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Western Asset Total Return ETF                                 | 811-23096         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| Franklin Louisiana Tax-Free Income Fund                        | 811-04149         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Western Asset Income Fund                                      | 811-04254         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Foreign Smaller Companies Series                               | 811-06135         |
| Franklin Income VIP Fund                                       | 811-05583         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin Natural Resources Fund                                | 811-06243         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Western Asset Variable Global High Yield Bond Portfolio        | 811-06310         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Templeton International Climate Change Fund                    | 811-02781         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Franklin K2 Alternative Strategies Fund                        | 811-22641         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Templeton China World Fund                                     | 811-07876         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin Mutual European Fund                                  | 811-05387         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin Total Return Fund                                     | 811-04986         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin International Equity Fund                             | 811-22338         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| ClearBridge International Value Fund                           | 811-06444         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Managed Income fund                                   | 811-04986         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| Franklin Growth Fund                                           | 811-00537         |
| Templeton Developing Markets Trust                             | 811-06378         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |

- **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 Variable Global High Yield Bond Portfolio

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

- **a. Full Name of the Fund:** Western Asset Variable Global High Yield Bond Portfolio

- **b. Series identification number, if any:** S000017004

- **c. LEI:** 549300DNX2ZRYZEQYB09

- **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?:** 2

- **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 | Class II                | C000047257                                | QLMYTX                       |
|                           2 | Class I                 | C000047256                                | QLMYIX                       |

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

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

- Rule 12d1-1 (17 CFR 270.12d1-1)

- 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:** Legg Mason Partners Fund Advisor, 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 Pte. Ltd.

- **ii. SEC file number:** 801-67298

- **iii. CRD number:** 000142188

- **iv. LEI, if any:** 549300GGQQAH8OMMCX51

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

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

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

**Sub-adviser Record: 3**

- **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:** BNY Mellon Investment Servicing (US) Inc.

- **ii. SEC file number:** 084-01761

- **iii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

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

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

**Transfer Agents Record: 2**

- **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?** Yes

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

**Pricing Services Record: 1**

- **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: 2**

- **i. Full name:** Refinitiv US LLC

- **ii. LEI, if any, or provide and describe other identifying number:** 213800HQORQAP68CJJ04

- **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:** THE CLEARING HOUSE PAYMENTS COMPANY L.L.C.

- **ii. LEI, if any, or provide and describe other identifying number:** 549300KIB86ZLHRUV723

- **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:** Virtu Financial, Inc.

- **ii. LEI, if any, or provide and describe other identifying number:** 5493001OPW2K42CH3884

- **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:** 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: 7**

- **i. Full name:** Refinitiv Benchmark Services Limited

- **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: 8**

- **i. Full name:** IHS MARKIT GROUP HOLDINGS LIMITED

- **ii. LEI, if any, or provide and describe other identifying number:** 2138005LTLTVZ4WMEX25

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

**Pricing Services Record: 9**

- **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:** 084-01036

- **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

**Shareholder Servicing Agents Record: 2**

- **i. Full name:** BNY Mellon Investment Servicing (US) Inc.

- **ii. LEI, if any:** 549300CFZQLI9QMJ1Z03

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

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

- **v. Is the shareholder servicing agent an affiliated person?:** No

- **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?** Yes

**Item C.14. Administrators.**

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

**Administrators Record: 1**

- **i. Full name:** Legg Mason Partners Fund Advisor, 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:** 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

**Broker Dealers Record: 3**

- **a. Full name:** Franklin Templeton Investment Services, Inc.

- **b. SEC file number:** 008-43206

- **c. CRD number:** 000027884

- **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: 4**

- **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

**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:** Marex North America Securities LLC

- **ii. SEC file number:** 008-70580

- **iii. CRD number:** 000307508

- **iv. LEI, if any:** 984500E3F678110C8570

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

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

- **vii. Gross commissions paid by the Fund for the reporting period:** $135.00

**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:** $157.50

**Brokers Record: 3**

- **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:** $90.00

**Brokers Record: 4**

- **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:** $135.00

**Brokers Record: 5**

- **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:** $259.50

**Aggregate Commission:** $777.00

**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        | $17,104,057.02            |
| Goldman Sachs & Co. LLC                   | 008-00129         |    000000361 | FOR8UP27PHTHYVLBNG30 | NY      | US        | $15,716,868.57            |
| CitiGroup Global Markets Inc.             | 008-08177         |    000007059 | MBNUM2BPBDO7JBLYG310 | NY      | US        | $23,593,672.43            |
| JEFFERIES LLC                             | 008-15074         |    000002347 | 58PU97L1C0WSRCWADL48 | NY      | US        | $6,518,543.35             |
| MARKETAXESS CORPORATION                   | 008-50727         |    000044542 | GPSMMRI21JE7ZCVYF972 | NY      | US        | $10,424,332.74            |
| WELLS FARGO SECURITIES, LLC               | 008-65876         |    000126292 | VYVVCKR63DVZZN70PB21 | NC      | US        | $5,723,571.70             |
| CREDIT SUISSE SECURITIES (USA) LLC        | 008-00422         |    000000816 | 1V8Y6QCX6YMJ2OELII46 | NY      | US        | $14,903,902.00            |
| Merrill Lynch Professional Clearing Corp. | 008-33359         |    000016139 | 549300PMHS66E71I2D34 | NY      | US        | $15,298,092.69            |
| RBC CAPITAL MARKETS LLC                   | 008-45411         |    000031194 | 549300LCO2FLSSVFFR64 | NY      | US        | $3,733,299.60             |
| J.P. Morgan Securities LLC                | 008-35008         |    000000079 | ZBUT11V806EZRVTWT807 | NY      | US        | $22,985,753.27            |

- **Item C.17.b - Aggregate value of principal purchase/sale transactions:** $157,700,168.91

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

- **Item C.19.a - Fund's monthly average net assets:** $142,809,754.34

- **Item C.19.b - Money market fund's daily average net assets:** $0.00

**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?** $2,675,000,000.00

- **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:** BARCLAYS BANK PLC

  - **Line Institutions Record: 3 Name of institution:** BANCO BILBAO VIZCAYA ARGENTARIA, S.A.

  - **Line Institutions Record: 4 Name of institution:** MANUFACTURERS AND TRADERS TRUST COMPANY

  - **Line Institutions Record: 5 Name of institution:** HSBC BANK USA, N.A.

  - **Line Institutions Record: 6 Name of institution:** PNC BANK, NATIONAL ASSOCIATION

  - **Line Institutions Record: 7 Name of institution:** GOLDMAN SACHS BANK USA

  - **Line Institutions Record: 8 Name of institution:** CREDIT SUISSE AG

  - **Line Institutions Record: 9 Name of institution:** DEUTSCHE BANK AG

  - **Line Institutions Record: 10 Name of institution:** THE BANK OF NEW YORK MELLON

  - **Line Institutions Record: 11 Name of institution:** THE TORONTO-DOMINION BANK

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

  - **Line Institutions Record: 13 Name of institution:** THE BANK OF NOVA SCOTIA

  - **Line Institutions Record: 14 Name of institution:** STANDARD CHARTERED BANK

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

  - **Line Institutions Record: 16 Name of institution:** JPMORGAN CHASE BANK, N.A.

  - **Line Institutions Record: 17 Name of institution:** STATE STREET BANK AND TRUST COMPANY

  - **Line Institutions Record: 18 Name of institution:** CITIBANK, N.A.

  - **Line Institutions Record: 19 Name of institution:** ROYAL BANK OF CANADA

  - **Line Institutions Record: 20 Name of institution:** BANK OF AMERICA, 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 K2 Alternative Strategies Fund                        | 811-22641         |
| Western Asset Core Plus Bond Fund                              | 811-06110         |
| Franklin LifeSmart 2035 Retirement Target Fund                 | 811-07851         |
| Martin Currie Emerging Markets Fund                            | 811-22338         |
| Franklin Templeton Conservative Model Portfolio                | 811-21128         |
| Franklin Small Cap Value VIP Fund                              | 811-05583         |
| BrandywineGLOBAL - Global High Yield Fund                      | 811-22338         |
| Franklin High Yield Tax-Free Income Fund                       | 811-04149         |
| Franklin Multi-Asset Variable Growth Fund                      | 811-21128         |
| Franklin Small Cap Value Fund                                  | 811-05878         |
| Franklin Allocation VIP Fund                                   | 811-05583         |
| Franklin Alabama Tax-Free Income Fund                          | 811-04149         |
| ClearBridge Appreciation Fund                                  | 811-06444         |
| Franklin Floating Rate Master Series                           | 811-09869         |
| Franklin Multi-Asset Moderate Growth Fund                      | 811-06444         |
| Franklin Strategic Income Fund                                 | 811-06243         |
| Western Asset Pennsylvania Municipals Fund                     | 811-04254         |
| ClearBridge Large Cap Growth Fund                              | 811-06444         |
| Franklin Federal Intermediate-Term Tax-Free Income Fund        | 811-04149         |
| Franklin Federal Tax-Free Income Fund                          | 811-03395         |
| Franklin Mutual Quest Fund                                     | 811-05387         |
| Franklin Mutual Global Discovery Fund                          | 811-05387         |
| Franklin Mutual Financial Services Fund                        | 811-05387         |
| Western Asset SMASh Series M Fund                              | 811-06740         |
| Western Asset Corporate Bond Fund                              | 811-04254         |
| Franklin Colorado Tax-Free Income Fund                         | 811-04149         |
| Western Asset New York Municipals Fund                         | 811-04254         |
| Western Asset New Jersey Municipals Fund                       | 811-04254         |
| Foreign Smaller Companies Series                               | 811-06135         |
| ClearBridge All Cap Value Fund                                 | 811-06444         |
| Franklin S&P 500 Index Fund                                    | 811-06444         |
| Franklin Templeton SMACS: Series H                             | 811-06243         |
| Franklin Templeton SMACS: Series E                             | 811-06243         |
| Franklin Rising Dividends Fund                                 | 811-04894         |
| Franklin Templeton Moderately Aggressive Model Portfolio       | 811-21128         |
| Franklin Income Fund                                           | 811-00537         |
| Franklin Managed Income fund                                   | 811-04986         |
| Western Asset Oregon Municipals Fund                           | 811-04254         |
| Franklin Small-Mid Cap Growth VIP Fund                         | 811-05583         |
| Franklin New York Intermediate-Term Tax-Free Income Fund       | 811-04787         |
| ClearBridge Dividend Strategy Fund                             | 811-06444         |
| Franklin Georgia Tax-Free Income Fund                          | 811-04149         |
| Franklin Focused Growth Fund                                   | 811-00537         |
| Franklin Mutual Global Discovery VIP Fund                      | 811-05583         |
| Franklin LifeSmart 2040 Retirement Target Fund                 | 811-07851         |
| Franklin International Growth Fund                             | 811-10157         |
| BrandywineGLOBAL - Diversified US Large Cap Value Fund         | 811-22338         |
| Franklin Templeton Aggressive Model Portfolio                  | 811-21128         |
| BrandywineGLOBAL - Corporate Credit Fund                       | 811-06444         |
| Western Asset Core Bond Fund                                   | 811-06110         |
| Franklin Biotechnology Discovery Fund                          | 811-06243         |
| Western Asset Massachusetts Municipals Fund                    | 811-04254         |
| Franklin Emerging Market Debt Opportunities Fund               | 811-10157         |
| Franklin K2 Long Short Credit Fund                             | 811-22641         |
| Franklin Growth Fund                                           | 811-00537         |
| Franklin Global Allocation Fund                                | 811-07851         |
| Franklin Fixed Income Portfolio Fund                           | 811-22801         |
| Franklin Pennsylvania Tax-Free Income Fund                     | 811-04149         |
| Templeton Developing Markets VIP Fund                          | 811-05583         |
| Franklin LifeSmart 2020 Retirement Target Fund                 | 811-07851         |
| Franklin Ohio Tax-Free Income Fund                             | 811-04149         |
| Franklin Equity Income Fund                                    | 811-04986         |
| Franklin Dynatech Fund                                         | 811-00537         |
| Western Asset Short-Term Bond Fund                             | 811-04254         |
| Franklin Multi-Asset Variable Moderate Growth Fund             | 811-21128         |
| Templeton World Fund                                           | 811-02781         |
| Franklin Low Duration Total Return Fund                        | 811-04986         |
| Franklin Oregon Tax-Free Income Fund                           | 811-04149         |
| Franklin Corefolio Allocation Fund                             | 811-07851         |
| Franklin Strategic Income VIP Fund                             | 811-05583         |
| Franklin Multi-Asset Defensive Growth Fund                     | 811-06444         |
| Western Asset SMASh Series Core Completion Fund                | 811-06740         |
| ClearBridge Variable Appreciation Portfolio                    | 811-21128         |
| Western Asset Mortgage Total Return Fund                       | 811-04254         |
| ClearBridge Variable Small Cap Growth Portfolio                | 811-21128         |
| ClearBridge Small Cap Growth Fund                              | 811-06444         |
| Templeton Foreign Fund                                         | 811-02781         |
| ClearBridge International Small Cap Fund                       | 811-06444         |
| Franklin North Carolina Tax-Free Income Fund                   | 811-04149         |
| Franklin Large Cap Growth VIP Fund                             | 811-05583         |
| Franklin Virginia Tax-Free Income Fund                         | 811-04149         |
| Franklin U.S. Small Cap Equity Fund                            | 811-22338         |
| Franklin U.S. Government Securities VIP Fund                   | 811-05583         |
| Franklin Templeton SMACS: Series I                             | 811-06243         |
| Franklin Mutual U.S. Value Fund                                | 811-05878         |
| BrandywineGLOBAL - Global Opportunities Bond Fund              | 811-22338         |
| Templeton Growth VIP Fund                                      | 811-05583         |
| Martin Currie SMASh Series EM Fund                             | 811-22338         |
| Franklin Global Market Neutral Fund                            | 811-22338         |
| Franklin LifeSmart 2025 Retirement Target Fund                 | 811-07851         |
| Templeton Sustainable Emerging Markets Bond Fund               | 811-04706         |
| Franklin Liberty High Yield Corporate ETF                      | 811-23124         |
| Franklin Rising Dividends VIP Fund                             | 811-05583         |
| Western Asset High Yield Fund                                  | 811-06110         |
| Franklin Total Return Fund                                     | 811-04986         |
| Western Asset Municipal High Income Fund                       | 811-04254         |
| Franklin U.S. Large Cap Equity Fund                            | 811-06444         |
| BrandywineGLOBAL - Global Opportunities Bond Fund (USD Hedged) | 811-22338         |
| Franklin Multi-Asset Conservative Growth Fund                  | 811-06444         |
| Franklin High Income Fund                                      | 811-01608         |
| Franklin LifeSmart 2060 Retirement Target Fund                 | 811-07851         |
| Franklin Real Estate Securities Fund                           | 811-08034         |
| Franklin Global Dividend Fund                                  | 811-06444         |
| Franklin Gold and Precious Metals Fund                         | 811-01700         |
| Franklin International Equity Fund                             | 811-22338         |
| Franklin Floating Rate Income fund                             | 811-09869         |
| Western Asset SMASh Series Core Plus Completion Fund           | 811-06740         |
| BrandywineGLOBAL - High Yield Fund                             | 811-06444         |
| ClearBridge Small Cap Fund                                     | 811-22338         |
| Western Asset Intermediate-Term Municipals Fund                | 811-04254         |
| Templeton China World Fund                                     | 811-07876         |
| Franklin Missouri Tax-Free Income Fund                         | 811-04149         |
| Franklin U.S. Government Securities Fund                       | 811-00537         |
| Western Asset SMASh Series C Fund                              | 811-06740         |
| Templeton International Bond Fund                              | 811-04706         |
| Franklin LifeSmart Retirement Income Fund                      | 811-07851         |
| Franklin Global Equity Fund                                    | 811-06444         |
| Franklin LifeSmart 2055 Retirement Target Fund                 | 811-07851         |
| Templeton Emerging Markets Small Cap Fund                      | 811-08226         |
| Franklin LifeSmart 2050 Retirement Target Fund                 | 811-07851         |
| Western Asset SMASh Series TF Fund                             | 811-06740         |
| Templeton Global Smaller Companies Fund                        | 811-03143         |
| Franklin Global Real Estate VIP Fund                           | 811-05583         |
| Franklin Floating Rate Daily Access Fund                       | 811-04986         |
| ClearBridge Small Cap Value Fund                               | 811-06444         |
| ClearBridge International Value Fund                           | 811-06444         |
| Western Asset Short Duration Municipal Income Fund             | 811-04254         |
| Franklin Adjustable U.S. Government Securities Fund            | 811-04986         |
| Franklin New Jersey Tax-Free Income Fund                       | 811-04149         |
| ClearBridge Variable Dividend Strategy Portfolio               | 811-21128         |
| Franklin Massachusetts Tax-Free Income Fund                    | 811-04149         |
| Franklin Strategic Real Return Fund                            | 811-22338         |
| Martin Currie Sustainable International Equity ETF             | 811-23124         |
| ClearBridge Mid Cap Growth Fund                                | 811-06444         |
| Western Asset Short Duration Income ETF                        | 811-23096         |
| Franklin Liberty Senior Loan ETF                               | 811-23124         |
| Franklin Small Cap Growth Fund                                 | 811-06243         |
| ClearBridge Variable Large Cap Value Portfolio                 | 811-21128         |
| Franklin Minnesota Tax-Free Income Fund                        | 811-04149         |
| Templeton Developing Markets Trust                             | 811-06378         |
| ClearBridge Variable Aggressive Growth Portfolio               | 811-21128         |
| Franklin Utilities Fund                                        | 811-00537         |
| Franklin VolSmart Allocation VIP Fund                          | 811-05583         |
| Franklin Convertible Securities Fund                           | 811-04986         |
| Franklin International Small Cap Fund                          | 811-10157         |
| Franklin Conservative Allocation Fund                          | 811-07851         |
| Western Asset Short Duration High Income Fund                  | 811-04254         |
| Templeton Foreign VIP Fund                                     | 811-05583         |
| Franklin Natural Resources Fund                                | 811-06243         |
| Western Asset Income Fund                                      | 811-04254         |
| Western Asset Emerging Markets Debt Fund                       | 811-04254         |
| ClearBridge Sustainability Leaders Fund                        | 811-06444         |
| Western Asset California Municipals Fund                       | 811-04254         |
| ClearBridge Mid Cap Fund                                       | 811-06444         |
| BrandywineGLOBAL - Global Unconstrained Bond Fund              | 811-22338         |
| BrandywineGLOBAL - Flexible Bond Fund                          | 811-22338         |
| Templeton Growth Fund, Inc.                                    | 811-04892         |
| ClearBridge Tactical Dividend Income Fund                      | 811-06444         |
| BrandywineGLOBAL-Dynamic US Large Cap Value ETF                | 811-23124         |
| Western Asset Total Return ETF                                 | 811-23096         |
| ClearBridge Variable Mid Cap Portfolio                         | 811-21128         |
| Western Asset Intermediate Maturity New York Municipals Fund   | 811-04254         |
| Franklin Maryland Tax-Free Income Fund                         | 811-04149         |
| Franklin Mutual European Fund                                  | 811-05387         |
| ClearBridge Value Trust                                        | 811-22338         |
| Franklin Arizona Tax-Free Income Fund                          | 811-04149         |
| Franklin Municipal Green Bond Fund                             | 811-04149         |
| Franklin Moderate Allocation Fund                              | 811-07851         |
| Franklin Mutual Beacon Fund                                    | 811-05387         |
| Templeton International Climate Change Fund                    | 811-02781         |
| ClearBridge Aggressive Growth Fund                             | 811-06444         |
| Western Asset Intermediate Maturity California Municipals Fund | 811-04254         |
| Franklin Connecticut Tax-Free Income Fund                      | 811-04149         |
| Western Asset Macro Opportunities Fund                         | 811-06110         |
| ClearBridge International Growth Fund                          | 811-22338         |
| Franklin California High Yield Municipal Fund                  | 811-06481         |
| Templeton Global Total Return Fund                             | 811-04706         |
| Franklin California Tax-Free Income Fund                       | 811-02790         |
| Franklin Small Mid-Cap Growth Fund                             | 811-06243         |
| Western Asset Core Plus VIT Portfolio                          | 811-06310         |
| International Equity Series                                    | 811-06135         |
| Franklin MicroCap Value Fund                                   | 811-05878         |
| Franklin Templeton SMACS: Series CH                            | 811-06243         |
| Templeton Global Bond Fund                                     | 811-04706         |
| Franklin LifeSmart 2045 Retirement Target Fund                 | 811-07851         |
| Franklin Multi-Asset Growth Fund                               | 811-06444         |
| Western Asset Inflation Indexed Plus Bond Fund                 | 811-06110         |
| BrandywineGLOBAL - Alternative Credit Fund                     | 811-22338         |
| Franklin Templeton Moderate Model Portfolio                    | 811-21128         |
| Western Asset Ultra-Short Income Fund                          | 811-04254         |
| Franklin Strategic Mortgage Portfolio                          | 811-07288         |
| Franklin LifeSmart 2030 Retirement Target Fund                 | 811-07851         |
| Franklin Growth and Income VIP Fund                            | 811-05583         |
| Franklin Mutual Shares VIP Fund                                | 811-05583         |
| Franklin Michigan Tax-Free Income Fund                         | 811-04149         |
| ClearBridge Large Cap Value Fund                               | 811-06444         |
| Western Asset Managed Municipals Fund                          | 811-04254         |
| Franklin California Intermediate Term Tax-Free Income Fund     | 811-04356         |
| Franklin Equity Portfolio Fund                                 | 811-22801         |
| Franklin Mutual Shares Fund                                    | 811-05387         |
| Templeton Global Bond VIP Fund                                 | 811-05583         |
| Western Asset Total Return Unconstrained Fund                  | 811-06110         |
| Franklin Growth Allocation Fund                                | 811-07851         |
| ClearBridge Global Infrastructure Income Fund                  | 811-22338         |
| Franklin Federal Limited-Term Tax-Free Income Fund             | 811-04149         |
| Franklin Income VIP Fund                                       | 811-05583         |
| Western Asset Intermediate Bond Fund                           | 811-06110         |
| Franklin Templeton Moderately Conservative Model Portfolio     | 811-21128         |
| ClearBridge Select Fund                                        | 811-06444         |
| Templeton Global Balanced Fund                                 | 811-08226         |
| Franklin Templeton SMACS: Series EM                            | 811-08226         |
| ClearBridge Variable Large Cap Growth Portfolio                | 811-21128         |
| Franklin New York Tax-Free Income Fund                         | 811-03479         |
| Franklin DynaTech VIP Fund                                     | 811-05583         |
| Franklin Multi-Asset Variable Conservative Growth Fund         | 811-21128         |
| Franklin Growth Opportunities Fund                             | 811-06243         |
| Franklin Louisiana 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

## 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 Variable Income Trust

**Date:** 2023-03-10

**Signature:** Christopher Berarducci

**Title:** Principal Financial Officer and Treasurer